RE: I Got Liquidated. So What?
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During the last 5 years, I got liquidated multiple times. The most brutal was when bitcoin broke down 6k mark.
I bought at 5700$ with some leverage. And left the trade open, thinking I will come back at it after a year or so.
I got liquidated around 3800, and it turned around from 3300 something to 10k, then 20k, then 60k.
That trade still haunts me. Lost more than 70% of my new money that I put into crypto. And all the unrealised gains I could have made with that trade, had I not leverage traded it.
After that point, I stopped leverage trading, mostly I passive invest now.
Bad thing is I don't make a lot of crazy gains.
Good thing is I sleep well.
The whole crypto world is bleeding and I barely notice it. Maybe worth the peace of mind.
Anyways, you are right. You always bounce back from losses, if you learn from them.
I am sure you will make a lot more than 20k$ in the future. Crypto is just the university of hard knocks, teaching one hard financial lesson at a time.
Good luck rebuilding your portfolio🙂
You know I looked at the trading thing, tired it and it just did not click with me, I prefer the stacking up and earn passively and like you I careless about the crypto market at the moment and if there is anything I worry about now, it is buying the dip
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Same here. I'm not an active trader.
Yeah rather play a league one can handle
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Most of this was not from trading, at least not intentionally. It was mostly savings. I don't have the patience for trading. I think, if I was liquidated for leveraging, I might be a bit more sour. My loan went towards paying down other debt at higher interest. So, I feel I got something out of it.
But, you're right. I feel I can repeat this for much more. It would be silly to just give up. I have proof that it can be done. Why stop?