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/biz/ - Business & Finance

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10239244 No.10239244 [Reply] [Original]

I'm a dumb idiot and I entered a 10x leveraged long at 6500 and I'm getting liquidated at 5800.

I could close now and lose around .0450 XBT which is like 10% of my portfolio. Getting liquidated out would be 20%. Now I'm holding it hoping for a bounce to 6500, basically the meme'd inverse HnS is my only bet.

Welcome to point and laugh, I know I'm a disaster. Trust me I already feel bad enough though. Any advice on what I should do? Hopefully with some reasons. All I know is that if I survive this trade I'm done with trading because I'm just so damn bad at it.

>> No.10239256

So you leveraged 100% of your portfolio? That's awesome dude fucking awesome

>> No.10239261
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10239261

double down

>> No.10239264
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10239264

Stick to your original plan

Don't worry fag we'll be buying below 6k.

>> No.10239272

Not bad OP, just a quick reminder that we go to 4k next

>> No.10239298

>>10239244
>/biz/ - Gambling

>> No.10239311

>>10239244
watch that funding OP longs pay shorts in ~4 hours.
will really eat away at you in a hurry if the rate goes back up

>> No.10239315

>>10239256
My math is all fucked up. I put 20% of my portfolio into a trade cause I got a feeling. If I get liquidated I lose that 20%

>> No.10239357

>>10239244
Just be a man and get liquidated

>> No.10239364

Why doesnt everyone just hold link?

>> No.10239380

>>10239315
Haha yeah

>> No.10239390
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10239390

>>10239364

>> No.10239394

>>10239390
Picture is you

>> No.10239396
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10239396

>>10239364

>> No.10239397

>>10239364
>impatient
But, we do get these threads for entertainment

>>10239244
You know whats more fucked, I have 389.93 BTC right now, I could totally market sell in 3 hours and fuck you super hard in the ass op. But, We bull now. So, not today charlie.

>> No.10239403

>>10239244
I aint gonna laugh at you you're doing the right thing, the /biz/ way.

>> No.10239406

>>10239244
retard stop trading before you learn risk management Jesus Christ how do you go in a trade like that without a predefined stop loss

>> No.10239407

>>10239244
>Any advice on what I should do?
IF you have a plan stick with it.

If your gambling, witch i suspect you are. 2 options
1. sell & BUY crypto but be prepared to HODL for time. at least if the trade goes sideways, as long as you have researched you still own something!
2. the best option, Sell & never return to crypto or trading/investing, plz stop lying to yourself, you are a gambler! Get some help if need

>> No.10239454

thread theme

https://www.youtube.com/watch?v=kdvTkddp1F0

>> No.10239470

>>10239244
dont worry, btc mcap wont drop below 100bil

>> No.10239477

>>10239397
or you could give me .05 btc and fix all of my emotional anguish, but then I'd prolly lose it too

>>10239407
you're right. I am gambling. I have such a small portfolio I've been desperately trying to make gains before we possibly reach newer lows. I'm aware I went about it all wrong and I should have just held only fiat till now. I don't have an addiction thankfully.

Problem is I've gotten bad advice and so I've based my trading on gut feelings. I won 5 small trades then decided to try 1 big trade and got fucked. Lesson learned. This isn't for me, and I'll just wait for a good level and hold some projects I like.

>>10239406
I'm learning.. I was afraid to set a stop loss because the stop-hunting was so aggressive lately. I got stopped out of a good position once and it fucked me up mentally.

>> No.10239498

>>10239364
I hold some LINK. Was doing this hoping to gain abit more. Respecting your green ID

>> No.10239510
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10239510

>>10239364

>> No.10239532

>>10239244
why are you even using bitmex to begin with unless you're a degenerate gambling addict. invest and hold kek

>> No.10239544

what the fuck is the problem? i started longing on 6300 and I will slowly add more if we drop below support (6k) to decrease my liquidation point. we wont go below 5.8k without major bounce to 7k+. mark my words

>> No.10239567

>>10239544
Some say a third touch to 5.8 will cause it to break through.

>> No.10239575

>>10239532
If you've got a very small income/savings, there's a real incentive to take riskier positions to try to get yourself in a better state.

>> No.10239586

>>10239575
i have a small portfolio as well, but i'd much rather gamble on shitcoins that will moon quickly than use bitmex

>> No.10239608

>>10239586
What shitcoins you gambling on? I hold a small position of XLM and LINK but BTC and Fiat is where I'm pretty much mostly at, because shitcoins have likelyhoods to bleedout and it's emotionally troubling to see -10% losses than btc's -4%

>> No.10239626

buy mimblewimble when it comes out

>> No.10239834

>>10239477
doesn't matter. without a stop loss it's incredibly irresponsible to trade. only take trades with r/r that match your strike ratio

>> No.10239881
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10239881

>>10239364

>> No.10239935
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10239935

>>10239244
1) Control your fear
2) Stick to the plan
If you haven't planned a stop loss, that's you being a retard but you might pull this one off. I long 1x from 6180. SL 6085. If we stay too long at these levels and BTC dominance increases, that's also bearish and I'll exit the trade.
Also don't listen to me. Do your own analysis and get a fucking stop loss. It's highly speculative right now

>> No.10239984

>>10239935
Thanks

Was there a time when it wasn't so speculative? Like when things were pretty certain? Traders I listen to all seem to say this is a speculative time and very risky, but were there times during the downtrend when trades were more certain?

>> No.10240408

>>10239608
>hodling fiat
Be a man and go all in on link, broke as fuck student here with 22K linkies, my bank account shows -200euros already, not even mad or stressed because I know i will make it in a few years.

>> No.10240507

>>10240408
I have about 5k LINK but it bleeds out pretty bad at this time. Maybe if I get extremely suicidal I'll just dump alot into LINK, put it in my wallet and forget about it for 2 years but it just seems irresponsible to do now.

>> No.10240866

>>10239244

Close it. You went long at 6500 you picked an AWFUL entry. Not trying to be mean op i know the feel but you are shit at this.

You close now ant eat the loss or you remain underwater for months while adding margin or take a bigger loss. Simple as that.

Longs and shorts are all about the entry. If you miss them you sit it out

>> No.10240994

>>10240866
But to eat such a big loss, it's really making me want to kill myself.

Yes I'm awful at this. Terrible terrible entry. I had no idea what I was doing.

I'll think about it quietly and decide to close it maybe. What hurts most is not knowing what the next trade should be. I'll feel just as helpless when it comes across.