REKT Too Many Times

By R23 | Supportive Crypto Community | 11 May 2022



Image Source

Well here we are everyone. We are getting absolutely destroyed in dollar value throughout the markets right now, and yet I was still feeling confident enough to take some risks.

Here are the three posisitions that I had liquidated just in the last 24 hours:

Went long on RUNE @ 5.65 10x

Went long on LUNA at 29.45 10x

Went long on RUNE @ 4.55 5x

After getting REKT in the two 10x positions, I thought we must have been nearing the bottom so I took a bit of a larger position in RUNE with lower leverage expecting it to be a long term hold as the liquidation point was roughly $3.30... Yet to my absolute shock, we actually found that point as RUNE bottomed this morning around $3.20.

Now I won't make this a sob story because I wasn't using life changing amounts of money, but it does sting to be wrong so many times (so dramatically) in a 24 hour period. I will financially recover from this within a week because I have been more responsible with my risk tolerance as of late, but I do hope that everyone is being responsible playing these markets short-term.

The Character Development

After taking these L's, I have fought off the urge to continue back and chase the losses. Instead, I have made a hefty investment in RUNE, LINK and now am trying to buy LUNA without any leverage. I guess the dream of hitting big on the volatility distracted me from the ultimate goal of wealth accumulation over a long period of time. This morning, I changed that and am excited that though the tokens may still have a bit of downside potential, I won't be getting liquidated and will be able to ride this one out going forward.

I think that the concept of leverage is alluring and that it becomes easy to be distracted from the reality that crypto is indeed volatile enough to liquidate you on a moments notice. This is a space where you need to be on top of your risk and take advantage of the volatility responsible or you're just one trade away from losing it all.

Be careful out there and make sure you are properly balancing your short and long term investments!

Come talk basketball on Dunk Social!



Links and Connections:
Join me on Splinterlands exploring blockchain gaming
Get paid for your search results with Presearch
Follow me on Twitter/Instagram: @ Rob_Minnick23
Hive: @ rob23
NEW TRIBE: @dunksocial
Join me on Torum
Check out Cake DeFi for staking rewards
Bitcoin Cash Apps: @ rob23
Join me on Publish0x to talk crypto

Who I am:
My name is Rob and I am a financial analyst with interests in cryptocurrency and blockchain. I have enjoyed my time thus far engaging with Web 3.0 and am looking to continue learning more and sharing what I learn through my experience.

How do you rate this article?




A new cryptocurrency investor looking to learn as much as possible about smart contracts and coding!

Supportive Crypto Community
Supportive Crypto Community

A blog that highlights crypto communities and shows how supportive they are of one another.

Send a $0.01 microtip in crypto to the author, and earn yourself as you read!

20% to author / 80% to me.
We pay the tips from our rewards pool.