A month has passed, and today I decided to share this as a warning: please take me as a cautionary tale and never gamble!
Review of the Experience on June 2#
A few days after the end of the Backpack S1 season, I held $135,000 in cash and suddenly felt aimless. I thought, since the backpack couldn't hedge, why not try short-term trading on Lighter? Perhaps I could increase my funds before S2 starts. So, I turned to contract trading, increasing my position from small to large, eventually reaching a scale of $1 million—where a 1% rise or fall meant $10,000, which was extremely thrilling.
🔸Day One: That night, I lost $25,000, reducing my capital to $110,000. I resolved to operate steadily the next day and avoid high-frequency trading. I planned to earn $5,000 daily and break even within a week!
🔹Day Two: I successfully made over $4,000, feeling secretly pleased and firmly believing I could exit with my capital intact within a week, promising to quit gambling from then on.
🔸Day Three: I opened a position before 8 AM, but my ETH position got stuck. I spent the whole day anxiously watching the stop-loss point, sweating profusely. In the evening, the stop-loss was triggered, and I lost another $25,000—an overwhelming sense of relief washed over me, like a death row inmate being released.
🔹Day Four: My capital was down to $95,000. Exhausted both physically and mentally, I was determined to recover my losses. I missed a short-selling opportunity at noon, and after going long on ETH at 2 PM, I got stuck again. By 5 PM, I stopped out, losing $10,000, leaving me with $85,000. In a last-ditch effort, I placed a short order for ETH at 6 PM (without setting a stop-loss), shorting at the lowest point. On the way home, I anxiously watched for a rebound, sweating profusely, fantasizing that if it dropped 7%, I could break even, determined to hold the position. At 8:30 PM, I pretended to watch TV, checking my phone for price fluctuations every minute. Around 9 PM, ETH rebounded by $30, worsening my losses, leading to a mental breakdown and a numb brain. I rushed back to my bedroom, desperately trying to close the short position (Lighter's mobile login was restricted), and after changing the VPN node, I finally closed the position. Instant relief—over 500,000 RMB lost in just a few days. I lay in bed speechless, falling asleep before 10 PM.
🔸Day Five: At 7 AM, I habitually checked the price, and ETH plummeted by 7.6% (later learned it was due to a conflict between Musk and Trump). I fantasized that if I hadn't closed my position, I could have broken even. But life has no "what ifs," and I had to face reality.
Reflection and Lessons#
After the first week of June, I suffered from anorexia for 7-8 consecutive days, eating only a small amount of vegetables, feeling mentally collapsed. Reflecting on this matter, I deeply felt the whims of fate. Now, looking at the candlestick chart makes me physically nauseous. Life has no second chances—the only gain was that Lighter issued 310 points that week (the highest in history). But I am grateful for this experience: the physiological aversion I felt when I had no hedged positions has completely insulated me from contracts, allowing me to quit gambling entirely.
✅People live because of hope
Thanks to my psychological mentor @Metabape and my wise brother @dominolu for helping me emerge from the shadows. Life is long, and the remaining capital along with @Backpack_CN points can still be used to recover losses. As long as there are people, hope remains. Lessons promote growth—I strive to achieve financial freedom in the second cycle and encourage my brothers together! Do not gamble, do not look back!
Keep going!
from @小熊饼干.eth
🔥 Solving the Issue of Inaccessibility to OKX Exchange in China#
Many exchanges' original domain names are often restricted or delayed by overseas servers, which is not a platform fault. Ordinary users can easily be confused; it is actually due to the network environment. OKX, Binance, and others regularly update their backup domain names to ensure access to the official website.
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- OKX backup domain Overseas OKX - Need to use a VPN or Alternative link
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- Binance backup domain Binance
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- Bitget backup domain Bitget
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- Bybit backup domain Bybit/Bybitglobal
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- Huobi HTX backup domain Huobi/HTX
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- Gate backup domain Gate.io
🔥 Recommended Reading#
The Latest Ranking of the Top 10 Virtual Currency Trading Platforms in China for 2025 is Out🔥【Worth Collecting】
【Real Stories of Getting Rich in the Crypto World】Many people ask me how I went from 0 to 11 million and then to a debt of 100,000 over the years of trading coins.
🔥 Practical Tools for Finding Gold Dogs#
1️⃣ Axiom Dog Trading Tool https://axiom.trade
2️⃣ Gmgn Dog Trading Tool https://gmgn.ai
3️⃣ dbot Dog Trading Tool https://app.debot.ai
4️⃣ Morelogin Multi-Account Fingerprint Browser www.morelogin.com
Everyone is Searching For#
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