Author Topic: While $10,000 Lost in Futures Trading, I Was Saved by Bitcoin Options  (Read 6 times)

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I still remembered the morning in Sep.25th, when I checked the market of bitcoin as before, I felt helpless because finally all my futures orders were all forced into liquidation. At that moment, I felt as if a knife were piercing my heart while I lost more than 10,000 dollars. Two days ago, after hearing the top news that BAKKT launched with high expectations from the markets and media, I swore to my wife and promise that we would be rich soon.
With the viewpoint that the launch of BAKKT would be bullish for the market, I took all my money in the bank and opened long contracts in 20X leverage with 10,000 dollars. This was almost all my property. I lost my mind, and I only desired to get rich at this time. Unfortunately, my hell was coming…
The launch of BAKKT was not going as my expectation, 24h trading volume is only 71 BTC. After that, the whole market was dump on the morning of Sep.25th. The price of bitcoin dropped rapidly from $9,600 to $7,700.
But, how could I save myself? My orders were all forced into liquidation. I was despair while I checked my balance: $500. I did not know how to tell my wife this truth. On that day, I just disappeared without eating or drinking anything. I reflected that I had done crypto trading for 3 years, and I always persuaded others not to try any leveraged trading, but I was just seduced.
I have imagined that I might lose since I started trading with full positions, but I never expected that day came so soon. Futures, the trading pattern which can enlarge greed of human beings, just shut me down. It must be my first time but also the last time to do leverage trading. I never complain about anyone or anything, but I was regret that I just push my wife to go through those consequences. I ‘ve never told her any about the thing.
One day, I was checking bitcoin talk and found an announcement that BitOffer would launch BTC Options, users were able to buy a bitcoin with $5. I opened that announcement and perused it: a bitcoin requires $9,000 but one bitcoin option only requires $5. If the price of bitcoin rises from $9,000 to $9,500, they both earn $500. It is no doubt that Options trading is far more competitive than spot trading.
After then, I registered an account on BitOffer and transferred my rest $500 to my BitOffer account. On Oct,24th, I detected Mike Base showed up in the market. Years of experience told me the price of bitcoin would be likely to pump. So, I placed orders for 50 call contracts on BitOffer BTC Options, which cost me $300. At that time, the price of bitcoin was $7,500, and the second day, it was pump from $7,500 to $8,200. After calculating, I earned $700 for each contract, which means that I earned $35,000 in total. It was amazing, this fund was important to my family. Until now, my wife still does not know anything about my futures orders were forced into liquidation. But with the funds I got from BitOffer bitcoin options, I can keep this secret and save my marriage...