Lost 10k yesterday, got it back by shorting the same coin!

I’m so angry/happy/upset/tired that I don’t even know why I’m writing this post. I just want to share it with someone and sadly I don’t know anyone involved in crypto.

When CRO sunk, I sold my $ 10k worth of CRO and bought LUNA. I was already at loss but somehow I saved 10k. Before they were 20k. CRO was 50% of my whole portfolio.

Yesterday my 10k became 2500$. I was shocked that 20k became 2.5k just because someone decided to make a mess. I have no problem with normal fluctuations, I invest in crypto since 2 years and I don’t panic when the market is not bullish. But man, cro and Luna did a mess because of their owners! It’s different!

I never did margin trading. I always just bought and hold relevant projects. My initial and only investment was 400$ 2 years ago, I’m not rich and all my portfolio was built by holding.

I decided to take 1250$ and use it to short Luna. It was worth 25$. I went to sleep and this morning it was worth 15$. I was so happy for few seconds, then I realized that I got liquidated during the night so I actually lost all.

I ended up with my last 1250$.
Luna was still falling. I decided to put everything and short it again.
It went down to 9$, I took profit and short it again by reinvesting everything (previous profit included).

It went down to 6$, I took profit and short it again everything I had. Now my liquidation price was 6.1$

It went down to 4$. If I sold, I would take back almost everything I lost. I decided to wait, I suffered to much because of this mess and I deserved to get a full refund.

It went up to 5.5$. I started to panic. Just few cents and I would get liquidated. You’ll never believe me, but for few seconds it went up to 6.15$, I throw away my phone thinking I got liquidated, but for some mysterious reason it didn’t happen.

I checked back my phone after 1 hour. LUNA was now worth 2.90$ and I realized I didn’t get liquidated! I closed my position and thanked the Gods of crypto.

I’ll never margin trade again, I’ll never invest in shady projects, I’ll keep investing in btc, ETH and few others like I always did before.

View Source

35 thoughts on “Lost 10k yesterday, got it back by shorting the same coin!”

  1. Holy, you got your money back but there goes 10 years of your life 😀
    Jokes aside, I’m glad you didn’t lose everything

    Reply
  2. Yeah, this seems too familiar. OP, when you say you won’t do it again, I don’t believe you. Not bcs you seem like a person who I would not believe, but bcs you display classic gambling addiction symptoms.

    You WILL do this again, unless you sort this addiction. Good luck.

    EDIT: u/bitjava is completely correct and I am wrong. My conclusion based on a single post is flawed. See his comment for more information.

    Reply
  3. Bravo for using shorting as a tool to get you gain👏👏👏

    People get so upset when you short crypto/stock, but it’s just another way one can make profits in the markets and that’s why we all are here at the end of the day…to make money

    Reply
  4. I made £15,000 in one night playing blackjack for the FIRST TIME. I had brought in £200 to the casino. 5 years later, I have lost more money than I care to even explain anymore. This was gambling. Don’t do it again. Take your money and RUN.

    Reply
  5. You should never ever invest in crypto again. You committed every single cardinal sin imaginable in investing and trading, and lived to tell the tale through sheer luck.

    Even without margin trading, based on this post I know you will lose everything in the future unless you stay away. Sorry for the condescending comment, but it’s true and you should hear it.

    Reply
  6. IN ALL CAPS: LET THIS BE A LESSON. ALWAYS KEEP 50% BTC. DO NOT DISRESPECT BIG POPPA PUMP. OR HE WILL COME BACK TO SPANK YOU.

    Reply
  7. If you didn’t panic and throw your phone you could have gotten closer to the bottom. I’m riding house money on a .9 ave now. Dont give 2 fucks if it gos to zero. Best high risk high reward situation.

    Reply
  8. made 21k flipping Luna lost nothing own nothing

    crypto is rekt for ALTS bleeding endlessly.

    another 50% to go.

    Reply
  9. I still have no clue how the shorting works. Not planning to do that, just looking for someone to explain.

    I just tried to read a bunch of articles but Im still lost.

    When you short a coin, is there a “limit” til your position is open? I mean, are you betting that a certain coin will be worth more or less in 24 hours? Or a month? Or it doesnt matter and if you “guessed” right you can take a profit but the more it falls or rises you can more profit if you “guessed” right?

    Reply
  10. I just turned 100$ to a 1000$ from luna. The times my heart dropped to my anus in those shorting minutes was numerous

    Reply

Leave a Comment