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The DeFi Chronicle: 5 Lessons I learned after getting rekt leverage trading Ethereum
About a month ago, I wrote an article about how I decided to try leverage trading on the Injective Protocol. You can read about it here: The DeFi Chronicle: Ethereum’s gas fees got me to try leverage. As you may have guessed, my leveraged long got liquidated and now my invested funds are a mere memory- a sacrifice to the crypto gods.
Maybe I’m watching a little too much Viking-inspired television. But after watching the markets drop and Eth dropping nearly 26% in one month, I’m a little upset at myself for irresponsibly losing 100% of my investment with no chance of seeing it bounce back. Crypto is one of the best schools of hard knocks and here are some of the lessons I have taken away from my experience.
- Leveraged trading is similar to gambling and best left to the professionals
Have you ever noticed that many of the names in the professional poker circuit come up over and over again? Does that mean that you or I could become one of these names if we devote full-time hours to playing poker? It could, but in reality, very few poker players make decent money over the long haul.
There will be traders who make a killing by doing leveraged trades. But there will be far more who end up dead or wounded on the battlefield in their…
