| alhabking | 01-01-2022 03:31 PM |
Re: Crypto Blowing Up
Quote:
Originally Posted by Soundofsilence
(Post 1180598)
Thanks. I appreciate your advice. Trying to recover emotionally. It was $520 but it was all I had after some major crash due to poor financial management. Will be back with x125 patience instead of x125 leverage.��
|
125X is ridiculous. The liquiditation price is very very small unless you significantly top up your margin.
You can make a comfortable living off 8-12X leverage, whcih is what I always use. For BTC i use 28X leverage and Eth I use 18X leverage.
If you are patient, you will have been enough money by just topping up your margin so your liquidation price is something extremely small.
Today I made around $250 off longing BTC at 46K with 25X leverage and made $177. My liquidatation price was $6,000. I also longed SOL at $171 and sold just now for $177.5 and made like $80.
I used to make $3-4K a week back in April to July till I got extremely greedy and lost 70% of my gains from 4 months of trading. I think I lost like $11K in two trades after I put way too high of an exposure by increasing the amount in my trade. This meant my liquidation price was too high that it should be. If I didnt pile in too much in those trades I would have easily survived and walked away with a profit with a few days of holding but I got extremely impatient.
Nowdays, I am happy with $600-$800 a week as I also have my 9-5 and im a gym addict these days | 
