Quote from: The Pharmacist on Today at 03:01:33 PM

Quote from: tomm741 on April 29, 2020, 06:59:13 PM

I have tried margin trading because i thought yeah its easy to make money with 100x leverage but
no is not i was stupid.

Sure, it's way easy to make money if you're using 100x leverage--as long as all your trades go your way, which frequently doesn't happen (you found that out the hard way, unfortunately).

Don't feel too bad, though. You're in good company as far as the number of traders who've gotten blown out when they're over-leveraged. Even some of the most experienced, highly capitalized traders have been wiped out. Anyone remember Long Term Capital Management? If not, at least check out the Wikipedia page on them and how they almost screwed up the banking system because of how much leverage they were using. It's incredible.

OP, as far as recouping your losses, I don't have any sage wisdom to give you. You just got an education that cost you a lot of money, and I'd probably just take a break from trading until your mind is right. And I would definitely not use so much leverage next time--maybe none at all. I've never traded on margin myself and while I'm sure I could have made a tidy profit on a few trades had I employed leverage, I don't have that kind of mindset. I don't like borrowing money, especially for risky things like trading. Good luck to you in the future.

Quote from: bustabitsboy on Today at 02:16:13 PM

i would say use the last of your funds and try and ride a alt coin Pump

Sure, why not lose the rest of his funds? Very few people get out of "altcoin pumps" early enough to make a profit.

LIke you said there isnt really a quick fix but if you are in for a penny you are in for a pound and i think he would rather try his luck at something else to do with BTC than withdraw less than 5% of his initial investment, but i do agree that it has a low probability of sucess