Last November, a friend played with contracts, putting in 500,000 principal with a 5x leverage, the account peaked at 4.3 million, after deducting fees and the portion hedged with spot trading, a total return of 851%.
What would you do if it were you at that moment? Most people would have stopped long ago, but he didn't. His wife said there was a small dip in the middle, and he didn't stop loss; later, it rebounded. At that time, the contract account had already made a profit of over 900%, it should have been that there were too many short positions, so he didn't pay attention. Later it fell a bit, and he still didn't choose to stop loss. When it dropped to 430, he called out to her with a slightly trembling voice to inform her of the situation, without being particularly agitated, and then he stared at the screen, slowly incredibly calm. Because with contracts, he had previously made nearly 3 million at the peak and then gradually lost it all. Having seen great storms and waves, he could remain incredibly calm in such situations.
He firmly believed it would reach 500, wanting to wait until it broke past 500 before stopping, but... without hedging the contract position, a needle just mercilessly struck down... The account instantly had only over 80, less than 90, closing it out, clearly it was too late... The outcome is something everyone should know, bomb...
All that was left was him holding his head with both hands, brooding for two minutes. His wife vaguely felt something was wrong, just as she was about to ask him what was wrong, he rushed to the windowsill and jumped down... Fortunately, his home was on the third floor, so he survived.
But the leg, is forever useless.
