1 week ago I moved 60% of my whole portfolio (all my savings are in crypto) to bitmex. I went long at 11.6k with cross leverage. BTC moved sideways since hours and I thought its not that dangerous. the second the order has been filled it dumped hard and I got fucking rekt. my whole funds were gone in a minute or so. I was near to kms but I managed to calm down and took a decision. once a clear market movement shows, I will go all in and get my funds back and never margin trade again afterwards. so I shorted after the pump from 11.1k to 11.9k, it was just clear for me that there will be a pushback. well. unironically fucking again in the second the order went through it pumped like crazy to 12.5k. how is this even possible. how can a single human being be so fucking unlucky. I still dont realize what Ive done. I lost everything, all my savings and gains of years were gone in
1 week ago I moved 60% of my whole portfolio (all my savings are in crypto) to bitmex. I went long at 11...
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we love you user
Now you can finally rest.
Farewell
And this is why you stay away from bitcoin casino and just invest in real projects ( chainlink )
Jesus fucking christ. Stories like this is why I will NEVER ever fucking use Bitmex. I've predicted ups, downs and reversals before and got them right. Not even slightly tempted to try on Bitmex. I've heard so many completly rekt tier stories like yours. I don't know why you margin gamblers take such huge risks.
I like margin trading purely because so many brainlets get rekt, lose everything and end up out of crypto for good, which simultaneously increases the collective intellect of those holding crypto.
you took an over leveraged position, should have planned for a swing against you and had your liquidation point quite a bit further than you would have expected it to go.
well you can be sure I learned my lesson. if I would get back my 2.5 BTC I would just hodl and never look back. its too late for me now
I know right? but greed can be a very strong factor for your actions.
user if you have any money left, just do as the other user said and buy some Link during this dip and hold till 1k. It's your only chance. You are clearly not a trader and have no idea how to predict movements. Just buy and hold something with good fundamentals. I wouldn't even buy shitcoins of the month because you need to be able to predict the dumps on those or you get rekt overnight.
So let me get this straight
You heard somewhere that you could magically get 10% to 200% from small movements on Bitcoin's charts, so you went all in, instead of being smart about it and only use like a 10% of your holdings
You did it without looking at the charts, lost your money, then, instead of backing off and think of a better plan, you just kept insisting in putting money in. Now, you got literally nothing, all of this in the frame of 1 fucking hour.
AND YET YOU ASK YOURSELF WHAT THE FUCK YOU DID WRONG?
Fuck, mate, I'm so sick of seeing these posts of people with tens of thousands of dollars losing all their money because they are just following Jow Forums memes
When in doubt, zoom out.
For real, never leverage trade against the macro trend, unless a war has just been declared or something. This is what I learned from leveraged FX, in crypto, these types of fundamental news events are even stranger.
well, thats not exactly how it happened. I made my TA before it, it just was just wrong. otherwise you're right with your description and it seems completely absurd to me too, now that I'm reading it. however: what is the probability that in the second of the orderfills the price rises / falls parabolically and does not return to the entry?
I only lost 500 bucks when I tried margin trading, but it was enough to make me never do it again. If I ever margin again its going to be on macro movements with 2 times margin.
Accept that you aren't as smart as you think you are, that is the final redpill.
The only way to trade bitmex is with 10% of your total crypto holdings and then 10% of your bitmex stack in any one trade on no more then 5x leverage with tight stop losses. Just trade off the RSI.
lmao good luck with those 0.01% gains.
OP did it right, he just was unbeliveble unlucky
It’s because you’re gambling and have too low of an IQ to understand fundamentals, along with long term investment.
>inb4 muh crypto bad
Objectively wrong. You’re just technologically illiterate and don’t understand the core principals of Austrian Economics. Only high IQ programmers / libertarians understand what is really going on in this market, which probably account for less than 10% of this board.
Sometimes I wonder if the order books are almost entirely fake and any real money they goes in is swiped
>how is this even possible. how can a single human being be so fucking unlucky
you weren't unlucky, you gambled your life savings away, what did you expect? by the way, i'm looking forward to seeing you at my local McDonald's cash register, and remember, for me, it's the McChicken
this. it was so unreal, it really happened right in the moment I clicked on long/short. like in a movie or so
This feels like a moon3d or crash gambling game... Just one more, just one more...
It's not luck in the slightest, you literally have no clue what you are doing.
Also never gamble more than you're willing to lose. Yes you were gambling.
Today I made $10 by being stupid and giving money to robinhood for a share of btc. Right when I wanted to sell, the trade service conveniently went down for maintenance. They can suck my dick. What's the best crypto exchange out there? I binance recommended?
I lost everything on bitmex as well, OP. It's rigged against you, I would not be surprised if different users were seeing different price movements, in fact.
It's LITERALLY a scam.
The way to win big in crypto is shitcoining, getting in before big-multiple pumps on shitcoins and then flipping. Simple as that. All in, all out.
WORST CASE scenario is your pump is somewhat delayed and you have to wait a few weeks or something. But if you use the most basic of checklists when choosing a coin, you won't "lose your money" and success is near enough guaranteed. 99% of people fail at this because they are impatient/panicking and can't cope with a few % drawdown before the moon.
Sorry for your loss, OP. Take a big loan, buy back in, and get on shitcoins.
Warning to anyone reading this - do NOT go to bitmex. Don't even fucking look at that website, ever.
you are a retard not unlucky, its literally meant to do this to people like you. just reallize your mistake and try again later down the line its not like this is your last opportunity to make it
Oh and just to give you some hope, OP, I literally lost all of my BTC on margin shit, literally every last fucking sat.
I made it back to ~80 BTC as of today, though, once I got my head straight.
thanks user, feeling a little bit better now. the problem is I dont have any fiat left to invest. Ill have to DCA with like 150$/month.
one question: which coins you invested that make you get back your stack and how would your shitcoin checklist look like now?
what to look for, small cap on a project that sounds real enough to shill for a bit?
Binance is alright i guess. Has half the altcoins shilled here and decent volume too. If you are gonna signup, consider using my ref link?
Congratulations. You're a degenerate gambler who thinks the dice are against you.
m8 leveraged trading platforms pick of your positions
This. And thankfully I'm lazy af and don't feel like jumping thru the hoops of being a burger and using bitmex.
even the news is interpreted and explained differently in bull vs bear cycles
Kek
So how much money did u lose total in USD?
around 25k, my initial investment was "only" 3k though
So total money that you put in (not counting crypto gains) was 3k, correct?
If so that's not too bad so long as you live in the US since I know 3k USD can go a long way in some other countries unlike in the USA.
>get greedy
>goes all-in
>loses everything
>wants to do it again because this time it will be different.
user. I'm gonna tell you something, it's gonna hurt but please hear me, it's for your own good.
You wil never. Never ever. Never ever EVER.
E
V
E
R
gonna make it.