I had saved 200$ , sacrificed few things. And ended up investing in Luna at around .80 $ - Lost everything. Now i am broke again - i really thought this will be my return to crypto because in the past i had done leverage trading and lost everything back then.
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Gambles like this are always very risky and one should only put in what they really don't mind losing. Jeff had it easier since $10k is just play-money for him, but us serfs need to be a lot more careful, unfortunately.
don't gamble its not about fast money its about supporting projects that you trust and that WORK FOR YOU. leverage trading is for opportunities not for a daily income (unless your a professional). I was obsessed with lev trading last year slept like 2-3 hours a night. I 3x my money one month and lost 95% of my portfolio the next. Since then I've learned that long term spot works much better for me or if you find a rare opportunity you can use leverage to minimize risk. really I've been trading a year and a half and I would say you shouldn't use leverage the first 2 years. I do occasionally but like I said above its about minimizing risk not maximizing returns.
Bro i had became addicted to leverage trading and sold everything like 6-7 months ago in order to do more gambling. Its just i had saved 200$ to buy something in Spot and Luna went to 0.
These are how we pay for the lessons we learn as traders. dont beat yourself up. your in your 20s right. im 23 and watched my already small portfolio shrink buy easily 85% but if you have done your research and feel confident holding you dont lose money till you sell with spot. i doubt luna will be back above $1 anytime soon but its just $200 If you get your hustle on and start learning more and more you will laugh at that 200 one day
Leverage trade - say you buy $100, If lose trade what's your max lost at x100?
It actually doubled from today's low already, so if you jump in and out at the right time, you can make some crazy returns very quickly even now. Gotta be careful though, the thing is very hot.
Definitely a gamble right now, but some people still seem to think it might get revived eventually.