Quote from: Olamidetechie on March 24, 2025, 03:46:03 PM

Liquidation is something I fear the most in my trading history, because no matter how sure you are about a trade, the market can decide to go otherwise. If you've only set a take-profit (TP) without setting a stop-loss (SL), you'll surely face liquidation at the end of the day.
A seasoned trader once said it's better to hit your SL than to liquidate, because you'll have something to fall back on to recover your losses.

A word of caution is enough for the wise. I'm sharing this because of a close friend who saw me trading a few days ago and thought it was easy after watching some YouTube videos. He bought XRP futures and lost up to $1,000. Ironically, he later came to confess to me, which was already too late, as his overconfidence had led him to neglect setting an SL. I helped him fight for liquidation protection, and he managed to get $100 back here due to his larger trading volumes.
Now, he's back to learn from me. What advice should I give him?

To your last question, he should be patient really. No rush, always use stop loss and always wait for his preferred entry before taking a trade. Now tell me about this liquidation protection you talked about. How does that work??