Every now and then, I look back and see a picture of myself losing $41,000 trading futures during a downtrend. That time was quite similar to now, when I felt like there was no way to make money, but I still had to spend money on other things, so I tried trading futures.
At first, it was just for fun, but later I made a decent amount, around $10,000. However, this is also a deadly trap because I couldn't control my greed; once I got used to winning big, I couldn't win small anymore.
What was bound to happen eventually did when I got stuck with Perp. I tried everything to hold on, from selling all my spot coins on the exchange (the coin was almost at its Dip price with the SOL at only $20) to selling a significant amount of coins from my external wallets. However, nothing could save me when Perp Chia in half, and I lost all $41,000.
Based on my own experience, I just hope that everyone will avoid getting involved in futures, especially during this period when Tet (Lunar New Year) is approaching. Earning money is difficult, and keeping it is even harder.
I'm not referring to anyone who's trading successfully and making a profit, because those guys, like me who often chat in the group, are among the few who are already good traders.
