Yesterday, I published Part 1 of my time trading futures.

In my first post, I shared how I was finally tempted by Binance into trying out futures and being convinced to do research on futures trading.

So I did; the videos and Reddit posts covered the usual advice, such as:

• Always use stop loss
• Avoid making "revenge trades"
• Take profits, not screenshots
• Research whatever you decide to trade
• Track all the trades you make

And the one I should have strictly followed, as you will find out later on.

• Anything above a 5x margin is a reckless gamble unless you know what you are doing

I started by trading new listings, as they tend to have high volatility.

I selected 2x and 3x margins, depending on how confident I was in the trade. I was making more than I was losing. The losses were kept to a minimum, thanks to using stop loss.

This went on for almost two weeks, then I got overconfident and made my first 5x trade.

Watching the green numbers go up even faster was an altogether different level.

It was a rollercoaster of emotions. I was gaining more, but I was also losing more. 

I was still somehow doing well at a 5x margin, so I got overconfident and let greed get the better of me.

I started doing 10x trades, and it was a rocky start. The sinking feeling from losing big amounts caused a downward spiral of bad decisions made in a panicked state.

Eventually I lost whatever I was willing to lose, and I stopped trading.

It stung, but in that short time I understood how easy it was to let greed and fear take over.

Would I ever get back into trading futures? At some point I might try again, hopefully remembering whatever I learnt and being more patient.