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Divine Chimsirike
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Divine Chimsirike
@divinechims
| PRO CRYPTO 📊 | GYM | MEMES | INVESTOR | NEWS | MOTIVATION | CONSISTENCY IS KEY |
Katılım Aralık 2023
588 Takip Edilen1.1K Takipçiler

@aussiehaggie If you follow me I'll definitely follow you back right now
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For the Newbies this is how leverage actually works — and what happened to me in September 2021 $BNB
Let me explain leverage in the simplest way possible.
You have $100. With 10x leverage, Binance lets you trade as if you have $1,000. Sounds good. But here is what they dont always explain clearly.
If your $1,000 position moves 10% against you — you lose your entire $100. Your position is liquidated. The $1,000 was never yours. Binance takes back their $900. You keep nothing
In September 2021 — my 5th month on Binance — I did not fully understand this. I was trading $BTC pairs with high leverage. The market moved fast. I had no stop loss properly set.
In one single month I was liquidated 23 times. I lost $3,198 in 30 days.
Binance has a feature called "Adjust Leverage" — please use it. Set it to 2x or 3x maximum when you are learning. Use the leverage calculator before every trade. It shows you exactly at what price you will be liquidated.
These tools are there. Please use them. I did not know enough to use them in 2021 and it cost me everything.
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@divinechims It Dey work o if you lose am your engagement go come worse
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@Szymansk_ii I'll pray beauty without nyash for my children and family,then the one with nyash for myself 🤷
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