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If I was asked this question two to three years ago, I would have said I like playing things safe. Coincidentally, within that space of time a lot of things have changed in my life. Two years ago I knew nothing about crypto. I was one of those people who thought bitcoin was crypto. All I knew was whenever you said anything about cryptocurrency you meant bitcoin and bitcoin was the only crypto to me.
Next year June will be my second year anniversary in the cryptocurrency space. I know it's not a big deal but I said that cause I want you to understand the number of years I've been in the space. I dedicated my time to studying a lot about other coins and how to play it safe. In my first few months as a beginner I played everything safe. Like all newbies, I followed the big guys and their signals. I always bought coins with a little over 10 dollars. I was afraid of loosing the little money that I had in cryptocurrency.
Well, my fears came to reality when the luna crash happened. I was still in the learning process hence I didn't know a lot about when coins are crashing and what to do. I saw an opportunity and I bought. The moment I bought the coin was the same moment I lost all my money. I agree I was greedy but then I entered blindly. I was rekted, I had lost everything I took time in building but then at the same time I learnt my lesson. I realized to make it you have to be a risk taker; I know some of you would have thought I had learnt my lesson and I won't risk stupidly again hihi.
Just about 4 days ago we all heard about the FTT crush. Well that was a good one for people who didn't have their money in FTX. I saw an opportunity to make some cash and I did so through leverage trading.
To be sincere I entered the trade through sentiment. I knew nothing about the recent high, or low. I didn't take my time to read the charts all I knew was that the coin was crashing and if I was fast enough I could get something from it. So I opened my binance account. At that time the price of the token was around 17 dollars so I placed a 5x short position on it.
Even though I was trading leverage and risking I still had to take some precautions. I opened the trade with 40 dollars and within 3 to 4 hours I had made well over 50 dollars. As they say, play it greedy and loose it all or play it safe. I had to take that and leave. The moment I left the market, news came that Binance was planning on bailing FTX out, out of no where the coin shot up to 20.8 dollars. At that time my liquidation price was 21 dollars. Boy I was lucky I left at that moment.
I waited for more trading opportunities and each time I entered the market with 5x leverage and came out with profit. What turned out to be a great day almost turned sour for me at one point. On my way to the mosque I opened a position in hurry and almost lost all my money. I waited till the price went back to normal and I left with a mere 1 dollar loss.
I am a risk taker and I will risk all day. It can pay off sometimes but sometimes it can go really bad for you. Once you are trading leverage you should understand that so when you loose it's normal. It happened that I didn't loose but gained profit that day and am glad for that.
Thank you.
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