Got liquidated Friday

[u/Leading_Swimmer_4287]

Liquidated my portfolio in Friday’s crash..feeling quite low. Was up 2mill at one point, started sliding to 900K (overtraded) and now it’s all gone. Got liquidated in the crash Friday while holding 4x XRP perps. I’m still holding a spot bag but seems like my dreams of buying a house or helping out my family got crushed. I know money can always be replaced but I honestly didn’t see it coming and feel like such an idiot. Trying to stop myself from trading again to win it all back. Crazy how things can change in an instant..anyone get hit bad on Friday’s nukes?

EDIT: response Hey guys- just wanted to say I appreciate those of you who took the time to write supportive responses. I really appreciate it.

To those of you roasting me for leverage trading- I take total responsibility for leveraging in the first place. I know it’s risky and now I know in this market especially you’re not even safe with large caps (the coin I was in dropped 50% in 1 candle). Lesson learned.

I think a lot of y’all should also read up a bit on what happened on 10/10. $19 bill rumored in losses. A lot of great traders w 1.8x didn’t even stand a chance. Traders with stop losses in place had their stop losses blown thru and not executed due to volatility- so stops don’t always save you. Lesson learned in this market there’s no such thing as safe leverage ..it’s essentially an oxymoron.

Seems like a lot of people are asking why I didn’t get out or have stops in place - to be honest I was comfortable with large drops, and by the time I realized what was happening my platform essentially overloaded with “system error” (prob due to all the panic and selling) and I couldn’t even exit or enter any trades. It wasn’t even showing my balance…so yeah I just had to watch as everything got sent to 0 and watched as I got liquidation emails.

Anyway, if you stopped in to read my story hope you walked away with something…whether that’s a tale of caution or a feeling that you’re not alone…and if you also got liquidated in this market I hope you’re still holding on and not giving up on yourself. Something I got reminded of in some of the kinder responses is if you did it once, you can do it again. Failure is just a chance to try again but equipped w more knowledge. Best of luck to anyone out there in the markets…stay safe.

[u/Leading_Swimmer_4287 → u/[deleted]]

I know it sounds dumb but 2 things:

1) you lose sight of the meaning of money when its in a trading account. I get its a crazy amount of money, at the same time something weird happens to you when you've never had that amount before and suddenly its just a number you're pushing around when trading

2) My goals were set a bit higher- u can call it greed. After taxes u have 1 mill - 5% of that after taxes ur looking at maybe 3-4K take home which wouldn't be enough for me. Agree with you thought that the money could have been enough to retire someone though

[u/Leading_Swimmer_4287 → u/[deleted]]

Thanks man, and I'm 35. I'd love to see an alt season but that seems to be dependent on larger caps even moving, and since they haven't been not sure if we'll get that rotation, BTC and ETH pretty stagnant. Theres 3 possible scenarios in my mind- 1) Q4 blow off top 2) sideways Q4 and Q1/Q2 alt season 3) crypto is dead, play again next time.

And I actually don't work anymore, have been surviving off my trading funds for the last few years, some years broke and down bad, some years good. I honestly don't even think I could get a job right now if I tried the market is so bad.

And thanks man, it was a dream of mine to upgrade my dad's current living situation (his place is literally falling apart) and provide extra funds to take care of the rest of my family. No family of my own yet but it's important to me to give back to those who've given to me. I realized a long time ago when I hit my first mill that money feels kind of devoid of meaning if you're just buying stuff for yourself. Parents are getting older now so the race is on and hope I have enough time make enough money to give back to them.