I had a margin trade that got force settled last night during the correction losing over 20 thousand. Very hard on me and unpleasant. Learned a big lesson master Haejin. Must be more cautious.
RE: BitShares (BTS) Short Term Consolidation
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BitShares (BTS) Short Term Consolidation
This happened to me as well. I had good profits going on and then I actually lost almost all of my initial deposit. I actually stumbled upon Haejin just after that. We both learned the hard way, but it's a part of the process.
I wish you MASSIVE profits!
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A good trader is a bad trader who forgives himself for his mistakes and learns his lessons and tries again!
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I never forgive myself I’m constantly arguing with the voices in my head. Lmao.
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A great Trader today could be a bad one tomorrow,10 wins can be undone by one loss. Lessons never cease.
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Sorry to hear about that. What did you leave your collateral ratio at ? Here an upvote to get you back on your feet
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margin training is not cheap
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Margin trading in DEX is interest free. As long as you keep you ratios high then it’s less risky.
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One of Haejin's rules is no margin trading, it will bring your account to 0. With the volatility in cryptos, this is especially true. I only ever do it very short term when I want to put on a position and move fiat into the account later.
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i have 8X collateral ratio.... bts would have to correct to a 80% or more for me to get margin called....im not really concerned plus with no interest its also less risky...when i sense a top...way before the top i close out my margin positions...wait to bottom out then reopen again.....haejin has his rules...i have mine...i have been trading crypto since 2010 and mining also fyi
plus i have an alarm set when BTS gets too low...if it gets too low i can close out my margin position in seconds with bitUSD in reserves or i can reduce my ratio all the way down for a force settlement...too many ways to skin a cat...
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Yes, with an 8x ratio, you’re pretty safe lol. I think for 90% of new traders out there, avoiding margin is a smart move.
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yes that we can agree on as newer traders are greedy...me i do not need to be greedy as i have enough....thanks matthew for watching out tho brother
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What margin were you using? 2x? Maybe try 4x next time to be more conservative.
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Sorry to hear about this... I have a margin position but have my ratio at 4:1. This is still a low volume market which allows big holders to push price around. I may close out my position until the volume picks up to avoid this type of situation.
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