We all noticed a sudden decrease in our portfolio few hours ago right? $1.1 Billion Bull position was said to had gotten liquidated. It's the Bull season, everyone is longing, everyone is buying against the Bull run because they want to make some Bull profit. My Twitter timeline is filled with a lot of Bull position showing Greens by Twitter influencers showing people how much profit they are making from the market. Seeing their profits and post made by them can be pretty depressing making you feel like you are not utilizing the Bull market enough like them. Some of these people display huge profits, imagine trying to figure a way to make the least $1,000 and some crypto influnecer is flexing their $300k profit trading the Bull market, then if you check the capital they used to make that trade you will see $23k.
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$23k is a lot of money to trade with, to make over $300k profit means that the market volatility is high, this means that if you make a loss, that $23k could go in a second. That is where $1.1 Billion of people's money who longed the market went to. Most of these crypto influencers that always post their gains were no where to be found yesterday when the market was in a red zone, this means that they must have lost a lot and they didnt post, or they never traded. If you follow or get influenced by crypto social media influencers, you are going to lose your money. These people feed off engagements, this bull market is the time where they are going to deceive a lot of people to take some long positions because everyone is currently too desperate to make profit. Trade with caution and always trade what you can afford to lose.
In this bull market, I will do more of spot trading, buying lots of utility coins with low market cap that can help turn my $100 to $8k using a solid plan of course. It’s possible to achieve this in a week with future trading or memecoin trading but with spot trading it will take a longer time, but the beauty is the risk management involved, the risk is lower. Trade carefully and don’t get too excited about your unclaimed profit then forget to claim them, unrealized profit is dumb money until realised. It’s the bull market, if you are doing perpetual trading, try so hard not to get liquidated, you might get too comfortable and increase your leverage, a huge dip pull back can happen and have you in loss or liquidated in no time.
Posted Using InLeo Alpha