Why do people who get easily addicted to trading should avoid futures? Let's take a look at a real tragedy in the crypto world!
During the bull market in 2021, I had a buddy who invested over 700,000 and quickly made over 5 million. At that time, everything he bought went up, and it felt like he didn't have enough money. Later, he opened a futures account, and after learning about it, he made even more money and was extremely happy.
One day, he suddenly asked me if there were any good coins to invest in and said that it was inconvenient for him to invest in small coins. When I heard that, I was startled and asked him where he got so much money. He told me it was financed, with five times leverage, and the interest wasn't low, plus a month's fee was deducted in advance.
I was worried that he would run into problems doing this, but he was quite confident, saying it was introduced by an acquaintance from the securities side, and it was absolutely safe. However, I already felt that the market was about to end, and I urged him for three consecutive days to close his futures account, but he wouldn't listen, thinking there wouldn't be any major issues.
Then, just a few days before May 19, Musk suddenly said that you no longer need Bitcoin to buy cars, and then Bitcoin plummeted dramatically, dropping 34% in a single day. Other coins also dropped severely, with Dogecoin and Shitcoin falling more than 50% and 60%. After that, I never heard him mention anything about the crypto world again. Later, I found out that he had been liquidated, losing over 18 million.
That night, he cried his heart out and almost wanted to do something drastic. His wife comforted him the whole night, fearing he might do something foolish.
Later, the couple moved to another city and lost contact since then.
So now, when someone asks me about futures, unless they can really follow my strategy, I just reply: buy spot.
I myself made it through with futures, friends who are confused and directionless in trading, leave a comment 1, to help you succeed, you can also join my exclusive chat room
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