Never use high Leverage

Crypto Loss
Bhubaneswar, India
August 2, 2022 5:59am CST
Hello dear members, I have learned a hard lesson & I am sharing that with you. So I was trading ETH/USDT in kucoin futures & got a little greedy , increasing the leverage from 5x to 15x. When ETH price fell below 8% I can't afford more margin so I have to close the position at 166 USDT loss My advice to anyone trading futures is to use low leverage.
7 people like this
6 responses
• Philippines
3 Aug
Hello! I see you are a newbie here I hope you will enjoy myLot. I just wanted to greet you. cuz I dont actually know how this crypto works so yea.
1 person likes this
• Philippines
4 Aug
@RandomUser Glad to know that you love this community. Okay got it. many people will let you know what your mistake without criticizing you so yea. Very good community You are welcome!
1 person likes this
• Bhubaneswar, India
4 Aug
Yes I am new here & I love this community. If anything mistaked by me please notify me so that I can correct & learn. Thanks for the greet.
1 person likes this
@LadyDuck (401246)
• Switzerland
2 Aug
This is why people should let the expert do the trading.
1 person likes this
@LadyDuck (401246)
• Switzerland
2 Aug
@RandomUser Trading is dangerous, no matter if currencies or if you play the stock market.
• Bhubaneswar, India
2 Aug
Yes, I will never trade crypto again
1 person likes this
@aninditasen (7848)
• Raurkela, India
2 Aug
I don't know anything about trading and so don't invest.
1 person likes this
@yoalldudes (32728)
• Philippines
2 Aug
This is what happened to me in eToro. I leveraged and lost money so that I have to withdraw all the remaining funds. I will try again some other time but will try to be smarter.
1 person likes this
• Bhubaneswar, India
2 Aug
yes, never use high leverage unless you have lot of funds
@yoalldudes (32728)
• Philippines
4 Aug
@RandomUser Lesson learned it was quite costly LOL.
1 person likes this
@JordanLader (4449)
• Sparta, Tennessee
2 Aug
I wish I understood all of this lol. I want to get into stocks and bitcoin but I don't understand any of it
1 person likes this
• Sparta, Tennessee
2 Aug
@RandomUser I think that what a lot of people find fun. That is if you actually understand what you're doing lol.
• Bhubaneswar, India
2 Aug
Thats a good thing. Never risk losing money. Crypto market is unpredictable
1 person likes this
@luisga814 (4968)
• Quezon City, Philippines
2 Aug
Yes. I have my cryptocurrency also thru Coinbase. So far, it's still manageable.
1 person likes this