The One Trading Mistake That Could Cost You Thousands On Steemit...

in bitcoin •  8 years ago  (edited)

The One Mistake I Made During A Sell Order That Lost Me $29,000+ IN 1 SECOND...

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DO not ever sell a market order unless you really want to liquidate!

In 2013 on another exchange I once sold an order at market rate instead of the amount I was setting it up to auto sell back in the day when I had over 1200 bitcoins and they were in the 150ish range....it cost me about $29,000 in bitcoins in loss with a single push of the button.....

It was early in the morning and I was getting ready for kick ass day of trading (it had been going VERY well the prior weeks), but I was still new at this...

The trollbox on BTC-E paused cuz the market moved so hard they said...WTF was THAT!

It was me, losing my ass...

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I couldn't move for a while...just staring at the screen.

Have you had a similar experience? Share it with us below!

Other posts by Michael

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bitcoin trading stories ouch sad experiences
8 years ago by

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      ·  8 years ago 

    Ouch. I like your 'other posts' idea at the bottom of your posts. Is that native to Steem or do you add it manually?

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      [-]
        ·  8 years ago 

      My idea :)

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          ·  8 years ago 

        Possibly one of the most brutal fat fingers I've ever heard about on an individual level. Of course there are stories about big time institutional traders that have caused their entire company to go bankrupt... but 29k... damn.

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          3 votes
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            ·  8 years ago 

          Dude it should go down in history as a WTF moment in early bitcoin trading.

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              ·  8 years ago 

            Should have caused a flash crash that you could have bought back into cheaper !

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                ·  8 years ago 

              It didn't, that was my first thought. They all were stunned long enough that there were not enough sell orders for me to mitigate enough. I would have lost more but I bought what I could back..it couldhave been worse...UGH

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                  ·  8 years ago 

                Look at it this way, at least you're not Lazlo...though from what I've heard Lazlo was quite satisfied with buying a new computer in addition to his pizzas (I'm not totally buying that though)

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                    ·  8 years ago 

                  Man it would be hard not to walk into oncoming traffic if I were him...

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