03-06-2023, 05:30 AM
Starting again with an empty account after being into crypto for 5 years. What I lea
<!-- SC_OFF --><div class="md"><p>I got into crypto during the bear after the 2017 bull run. Btc had reached its top at approx 20k and it had started falling. I got in when it was around 10k. I used coin base, not even coin base pro. I purchased some and I watched it fall more and more. </p> <p>At some point I discovered coin base pro and was fascinated with the trading aspect. I was looking at charts, order books etc all day long, but it made a small difference to my account since I had a small account and there was no leverage, nor low market cap coins which could make big movements. </p> <p>Then I discovered Binance. When I discovered Binance the price of btc was around 4k. I started experimenting with trading a lot of alt coins. Some days were good and some days were bad. I managed to make some profit trading alt coins and I had 0.9 btc. </p> <p>At that point I discovered BitMex and margin trading. I started making bets with 100x leverage. That 1 btc, gone. Very quickly. I kept putting more money and I kept blowing up my account. Overall I have gambled around 100 ETH (I used ETH whenever I wanted to fund my account on Binance and then I would swap it for btc and then xbt (BitMex btc). 100 eth, today is worth around 150k. During its all time high, the total eth that I chose to gamble instead of save, was worth half a million dollars, but I was not in possession of it anymore. </p> <p>Recently I started investing in agix cause I believe that it will get big. And it did really well. I got in before the pump of the ai coins. I said to myself that I will set it and forget it. I wasn’t able to do so. I wanted more agix before I set and forget. I sold it all and opened a 20x long on btc thinking that with the profits I will buy more agix. And this brings us to the last dump that occurred which liquidated me for one more time. I was thinking that I had learned my lesson. I didn’t use 100x. Only 20. Well…still dangerous as it seems. </p> <p>Now I have decided to start again. But I won’t gamble. At least that’s what I say at the moment. You never know with problem gamblers like myself. I will try to stick to my new plan, which is to dollar cost average into the Binance and CMC Index (the top 10 cryptos, the blue chips). That’s it folks. </p> <p>TLDR: leverage bad, gambling addiction real, trying a new approach</p> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/DimiXti"> /u/DimiXti </a> <br/> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/11iu38m/starting_again_with_an_empty_account_after_being/">[link]</a></span> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/11iu38m/starting_again_with_an_empty_account_after_being/">[comments]</a></span>
<!-- SC_OFF --><div class="md"><p>I got into crypto during the bear after the 2017 bull run. Btc had reached its top at approx 20k and it had started falling. I got in when it was around 10k. I used coin base, not even coin base pro. I purchased some and I watched it fall more and more. </p> <p>At some point I discovered coin base pro and was fascinated with the trading aspect. I was looking at charts, order books etc all day long, but it made a small difference to my account since I had a small account and there was no leverage, nor low market cap coins which could make big movements. </p> <p>Then I discovered Binance. When I discovered Binance the price of btc was around 4k. I started experimenting with trading a lot of alt coins. Some days were good and some days were bad. I managed to make some profit trading alt coins and I had 0.9 btc. </p> <p>At that point I discovered BitMex and margin trading. I started making bets with 100x leverage. That 1 btc, gone. Very quickly. I kept putting more money and I kept blowing up my account. Overall I have gambled around 100 ETH (I used ETH whenever I wanted to fund my account on Binance and then I would swap it for btc and then xbt (BitMex btc). 100 eth, today is worth around 150k. During its all time high, the total eth that I chose to gamble instead of save, was worth half a million dollars, but I was not in possession of it anymore. </p> <p>Recently I started investing in agix cause I believe that it will get big. And it did really well. I got in before the pump of the ai coins. I said to myself that I will set it and forget it. I wasn’t able to do so. I wanted more agix before I set and forget. I sold it all and opened a 20x long on btc thinking that with the profits I will buy more agix. And this brings us to the last dump that occurred which liquidated me for one more time. I was thinking that I had learned my lesson. I didn’t use 100x. Only 20. Well…still dangerous as it seems. </p> <p>Now I have decided to start again. But I won’t gamble. At least that’s what I say at the moment. You never know with problem gamblers like myself. I will try to stick to my new plan, which is to dollar cost average into the Binance and CMC Index (the top 10 cryptos, the blue chips). That’s it folks. </p> <p>TLDR: leverage bad, gambling addiction real, trying a new approach</p> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/DimiXti"> /u/DimiXti </a> <br/> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/11iu38m/starting_again_with_an_empty_account_after_being/">[link]</a></span> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/11iu38m/starting_again_with_an_empty_account_after_being/">[comments]</a></span>