A month has passed, and today I decided to share this as a warning to everyone: learn from my experience—don't gamble!
On June 2, a few days after the end of the Backpack S1 season, I had $135,000 in cash and felt a bit aimless. I thought that since the Backpack couldn't hedge, I might as well try short-term trading on Lighter, perhaps I could increase some funds before the S2 season starts.
So, I started contract gambling, gradually increasing my position from small to $1 million, with a 1% rise or fall meaning a $10,000 fluctuation, which was very exciting.
🔸 On the first day of entering the market, by evening I had lost $25,000, leaving only $110,000 in capital. I told myself to be steady the next day and avoid blind high-frequency trading; if I could make $5,000 a day, I could recover my losses in a week!
🔹 The next day, I indeed made over $4,000, and I was secretly pleased, thinking that if I could hold on for a week, I could exit without losses, and I would never gamble again after breaking even.
🔸 On the third day, I woke up eager to trade, wanting to quickly recover my losses. I opened a position before 8 AM, but my ETH position got stuck. I was in extreme pain, sweating as I watched the numbers approaching my stop-loss, enduring the whole day. In the evening, the stop-loss was triggered, and I lost another $25,000; at that moment, I felt relieved, like a death row inmate finally facing reality.
🔹 On the fourth day, my capital was down to $95,000, and I clearly felt physically and mentally exhausted, but the thought of breaking even drove me to open a position again. I missed a short opportunity at noon, and around 2 PM I judged that there would be a rebound and went long, but ended up getting stuck; at 5 PM, the stop-loss was triggered, losing $10,000, bringing my capital down to $85,000. Then, I went all in, seeing ETH break down, and at 6 PM I shorted on my phone without setting a stop-loss! As a result, I shorted at the lowest point, sweating on my way home while staring at the rebounding price, fantasizing that if it dropped 7%, I could break even, determined to hold the position. At 8:30 PM, I pretended to watch TV but checked my phone for price fluctuations every minute. Around 9 PM, ETH rebounded nearly $30, and my losses worsened; I completely broke down, my brain numb.
I rushed back to my bedroom, desperate to close the unprotected short position. The Lighter mobile login prompted that access was restricted in my region, and I frantically changed VPN nodes, desperately trying to close it. When the position was finally closed, I felt a huge relief; in just a few days, I had lost over 500,000 RMB, and I lay in bed speechless, falling into a deep sleep before 10 PM.
🔸 On the fifth day, I habitually checked the price at 7 AM, and ETH plummeted 7.6% (later learned it was due to Musk and Trump falling out). If I hadn't closed my short position, I could have broken even as I fantasized yesterday. But life has no ifs, and there are no do-overs; I must face reality.
This is my experience from the first week of June. For the next 7-8 days, I only ate two bites of vegetables at each meal, feeling anorexic and depressed, my spirit completely collapsed. Looking back, it feels like fate played a trick on me; now, seeing K-lines makes me physically nauseous. Life has no ifs; if you ask me what I gained, perhaps it was the 310 points awarded by Lighter that week, my highest historical gain. But I am grateful for the lesson from a month ago: now, the unhedged positions make me feel sick, and I have completely quit gambling.
✅ People live because they have hope.
Thanks to my psychological mentor @Metabape and wise brother @dominolu for their help in helping me step out of the shadows. The road of life is still long; I still have capital and points from @Backpack_CN, and I can earn back through other means. As long as there are people, there is hope. People grow from lessons.
I will strive to achieve financial freedom in the second cycle. Let's work hard together, brothers! Don't gamble, and don't go back!
Go for it!
from @小熊饼干.eth
🔥 Solving the issue of accessing the OKX exchange in China#
Many exchanges' original domain names may be blacklisted, or access speed may be affected due to servers being located overseas. For ordinary users, this situation often leaves them feeling helpless, even doubting whether the exchange itself is having issues. In fact, this is more due to the network environment rather than a service interruption on the platform itself. To cope with this situation, exchanges like OKX and Binance usually update their backup domain names regularly to ensure users can continue to access the official website through alternative addresses.
-
- OKX backup domain Overseas OKX - need to bypass restrictions or alternative link
-
- Binance backup domain Binance
-
- Bitget backup domain Bitget
-
- Bybit backup domain Bybit/Bybitglobal
-
- Huobi HTX backup domain Huobi (Huobi/HTX)
-
- Gate backup domain Gate.io (芝麻开门)
🔥 Related Reading#
🔥 Practical tools for finding gold dogs#
1️⃣ Axiom dog charging tool https://axiom.trade
2️⃣ Gmgn dog charging tool https://gmgn.ai
3️⃣ dbot dog charging tool https://app.debot.ai
4️⃣ Morelogin multi-account fingerprint browser www.morelogin.com
Everyone is searching for#
Buying Bitcoin, stock trading principles, Bitcoin, presidential coin, Tony quotes, crypto master Tony, Trump coin, buying Bitcoin domestically, trading exchanges, OKX download registration, domestic OKX recharge, Binance App registration, Binance App download, Binance platform coin buying tutorial, Binance registration, Binance airdrop registration, Binance Apple download, how to buy presidential coin, how to buy Dogecoin, buying Bitcoin with RMB, how to download OKX, web3 earning, web3 zero earning, Bitget mainland download registration, OKX passport registration, OKX download, Binance download, side job trading coins, OKX contracts, how to recharge RMB on OKX, how to recharge OKX, how to set up an NFT wallet, how to recharge RMB on Huobi, beginner's guide to the crypto world, btc8848.com, Tony's trading principles, contract leverage bit wave, DeFi mining, earning in the crypto world, can we still play crypto airdrops, what to do if a contract is liquidated, how to buy presidential coins on OKX and Binance, how to buy Ethereum on OKX and Binance, how to play DeFi staking mining, can we still play NFTs, web3 airdrop earning, how to play web3 zero earning, how to mine inscriptions, how to mine runes, crypto beginners' guide, how to trade coins, can you make money trading coins, crypto beginner tutorial btc8848.com, can you make money trading coins, what is contract leverage, DeFi mining, how to earn in the crypto world, OKX airdrop, node staking, liquidation, financial freedom, night investment heiyetouzi.xyz