You'll never fully understand liquidation without experiencing it.

It taught me a lesson and that was when I knew the weight of the risks involved in trading. So throwback to when I was scalping 24/7, I was somewhat profitable because I usually monitored every trade and I chased only little market movements.

Until this crazy day where I was in loss of about $250 and I would not call it a day until I had made at least half back. I was really tired already but I was still looking for just one clear strategy with conviction, and I found. I didn't like to waste time in order not to miss the opportunity so, in like two minutes I did my analysis and confirmed the strategy.

I opened the position (long), set 50x leverage, and inputted $500 on cross margin. It started going up and my goal was to monitor for 10 mins and then take profit. I didn't know when I rested my head and slept off. Next memory was partially waking up at midnight and seeing an email notification "liquidation notice".

Funnily enough, I ignored it and went back to sleep (I was half asleep). Morning reached and first thing I did was to check the trade and it was all gone. I had about $1000 in total so I lost another $500 because of the margin, but it was all so crazy and quick. But still not quick to leave my memory because I can't forget it.

Eye-opener of an experience. I stopped trading for a while but when I continued, I was still scalping but later stopped and this experience surely played a role in me stopping scalping.

This is my experience, so y'all can learn so you won't go through the same. Know the margin you're working with, understand leverage risks, and risk what you can afford to lose.
#MyGateTradeStory