MY FIRST TIME TRADING LEVERAGE || #CLUB75

I remember I once replied to one of @o1eh's posts about leverage trading where I told him I was going to try leverage trading out and see how it will go for me.

To be clear, this was not my first time leveraging as I have done it before in one of the professor's assignments where I used only 5 usdt using the 5 minutes time frame with the help of 3 indicators. To be precise I used the parabolic SAR, the RSI and the EMA where I changed the length to 200. For that first trade, I didn't know what I was doing even though I was able to read the chart and place my position on the chart. It was left with taking my position. After struggling with the Binance exchange I was able to place a sell trade successfully.

Because I didn't know what I was doing I decided to exit my position early cause I didn't want to make a loss. But then after exiting the trade I looked ok my chart and realised I took the position rather early as the market was in a ranging phase but the surprising part is I was able to make a few cents so I left a happy man.

Today I decided to try leverage trading again as this time round I had a little bit of experience. I had 8usdt in my Huobi-global spot wallet so I had to transfer it into my leverage account. After transferring I looked on the BTC/USDT chart and after adding two indicators (RSI and EMA) I placed a long/buy position. I used all the 8 dollars and within 5 minutes I made +3 usdt since I was excited I didn't look on the chart again and then I quickly left the market with the little I made.

By this time I had made 3 usdt plus the 8 usdt making it 11 usdt. An urge of excitement and greed got to me so I went back with all the 11usdt and placed a long position once more. This time round I came out of the market with a plus of 7 usdt making my total amount 18 USDT. I made a little trade more and then by the time I stopped I had a total of around 22 USDT in my wallet. I was excited about how I was able to turn 8 USDT into 22 USDT.

After making this I should have left but I wanted to make more and by the time I realised I lost all the 22 dollars. It was quite surprising but I felt a bit of excitement as to how I lost it in a flash.

I was a bit disappointed but then I wanted to go back into the market don't transferred 20 steel from binance and I went back into tye market. This time round tie indicators were showing a fall in price of the asset so I had to perform a short position. The 20 steem had given me an amount of 6 USDT which I transferred to my derivatives account.

This time I remembered the first rule of trading, which is to always have a trading plan before you take a position. Sadly I didn't do that the first time I was opening my positions which caused me to loose all my USDT in my huobi-Global account.

This time round I decided to take my first short position using 1.5 USDT and this time round it didn't work out. I was quick to react which I shouldn't have and then due to impulse I again used the rest of my assets to place a short position which I lost once more.

So in a day I made 22 dollars and then I lost almost up to 30 dollars which has taught me so many things.
Some of which are

• You should always have a trading plan before entering the market.

• You should have a plan on how much loss you willing to make.

• you should also have a plan on how much profit you are willing to make so that you are not caught up with making too much profit.

Leverage trading is about making profits on a low for people who wouldn't be caught up by greed.

Thanks for reading.