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Graduated from 985, couldn’t land a job so I switched to crypto trading—this is my second day.
Started my futures account with 100 USDT aiming for 1,000 USDT, but today my balance is 70 USDT. There haven’t been any ideal entry signals on the charts, so I’m holding off for now—impulsive trading is often the start of losses.
On the bright side, the reward from the Folks trading competition arrived today: 15 Folks tokens in the bag (I participated in the tier where the prize pool is split among the top 1,000 by trading volume). This reward definitely eased some of my anxiety about unrealized losses.
It’s worth noting: when rewards from these competitions are distributed in bulk, there’s usually a wave of sell pressure. Players who ranked high are very likely to cash out and exit. In the short term, Folks may face selling pressure, and trying a short with a tight stop-loss could be an option—of course, only if risk management is in place; don’t let your stop-loss turn into a liquidation.
The market is always crazier or calmer than you expect—respect the rules if you want to survive.
Only two days 70U... How uncomfortable it feels
The wave of competition rewards in folks is indeed a pit, and the big players cashed out a wave of leeks and wilted, and I have seen this drama too many times
Calm and inactive is the wisest, I just couldn't hold back my hand before and blew up the account
As the saying goes, surviving is much more important than getting rich quickly
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As soon as the folks’ competition rewards hit the account, you have to run. All the seasoned players know this trick—coordinated dumping, for sure.
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Risk control is easy to talk about but hard to do. Don’t wait until you’re liquidated to regret standing still.
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From job hunting to liquidation, all in just these two days? Are you going to keep going next week? Haha
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Respecting the rules sounds good, but who really listens?
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What can 15 folks really save? This is the lure of crypto—it keeps you daydreaming.
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I just want to know where this 100U came from—credit card or from home?
Turning 100U into 70U, that's probably the first lesson reality has taught you.
The rewards from the Folks wave were definitely satisfying, but the selling pressure you mentioned is a real concern, don't celebrate too soon.
You can try shorting, but honestly, if your risk management isn't solid, you'll get liquidated—I’ve seen it happen too many times.
Respect the market and survive longer, I give you a thumbs-up for that.
Huh, is the selling pressure from this round of the folks competition here? I knew it, when leaderboard players cash out it's usually the biggest moment for retail to get rekt.
Still have a lot of 70U left, keep dumping.