Name: [Udemy Course] Cryptocurrency and Bitcoin Margin trading on Binance guide by Bobby B
SKU: 615bca469ac2c0002ca30615
Price: 15.0 MYR
Availability: InStock

Description

What you'll learn

How to Margin trade cryptocurrencies on Binance platform

What is Margin trading

When to use margin trading

How professionals use margin trading

Isolated and Cross margin

Let me share you a story for my most devastating loss in my trading career.

It happened in 2018. That time I just had moved recently to an apartment with my wife in the second biggest cities in my home country. I was trading full time and this was our only source of income ( my wife wasn`t working). So we were both dependent on my income from trading. We had a decent monthly expenses because we were renting a nice apartment in the centre of the city. At that time I was using a trading strategy without a hard stop-loss (only mental stop loss). I was trading on a 11 000$ account. Everything was perfect until I entered this XRP short trade. The whole market was in a downtrend only XRP was rising so I shorted the bad boy. The problem was that the trade really started to go against me ... I was "sure" that I am right and it have to go down so I kept adding to my losing position. On top of this my mentor at that time was in the same trade and he also was "sure" that the top is in or close and its not going to continue to go higher ... This gave me additional confidence because even my mentor who in my head was the one who "knows everything" was thinking just like me so I kept adding to my losing position. By the time I realized what I am doing I was in a 33 000$ position with 11 000$ account. So I was not only "all in" I was in with 22 000$ more than my capital that I borrowed ... "Margin trading was a way to make more money they said " ... Not only this but in the meantime XRP continued to go against me even more ... The next 1 day I spend arguing with my wife ... She was telling me to exit the trade, eat my loss (the loss was a little higher than 1000$) but I was so stubborn and "sure" that it wont go up anymore that didn`t listen ... "Ego is your enemy" ... The second day the loss was going higher and higher ... she was already crying ... I was with the mentality "I don`t care anymore I will lose everything but won`t close this trade" ... This were the longest days in my life ... It just kept going up and eventually I got liquidated ( meaning I lost all the money ...) I broke my phone in the wall ... Made both my mom and my wife to cry so much ... Now even I was crying (from the inside) ... The problem were not only the money ... the problem was that now we had to move out of the apartment that we just recently rented + I had to go and work jobs that I hated to save capital and go back to trading ( which everyone consider nonsense after such a failure)

Why I shared with you my story?

So I can give you reference of what margin trading can do to you if you use it in a wrong way!

💢💢💢💢💢💢💢💢

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[Udemy Course] Cryptocurrency and Bitcoin Margin trading on Binance guide by Bobby B

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