The Bitcoin contract lost 1 million in half an hour. My wife saved me with a small operation

At around 6pm on August 10th, Bitcoin suddenly plunged from 12,000 US dollars to 11,500 US dollars, and fell 500 US dollars in 10 minutes, a drop of as much as 4%. The 50 times leveraged contract I opened almost broke out and almost lost 2 million. Fortunately, the account margin is more. Until now, my heart is still bouncing, if the position is burst, I might go to the T building.

I work in a bank and I am mainly responsible for lending business. In my free time outside of work, I will play contracts. I mainly want to use small funds to gain a lot of money, especially after adding 20 times, 50 times, and 100 times leverage. In the right situation, 100,000 can quickly earn 1 million, and it is not impossible to get rich overnight.
In the beginning, I played the contract with my own salary. I opened about 5000 once, and usually opened a leverage of 20 times. The profit was 3 to 5 points and the position was closed. A single order could earn more than 1000. At the beginning, I was right about this The income is quite content. But as my understanding of the contract deepened, I began to become greedy, always wanting to get rich overnight, so I started to put together the idea of ​​1 million savings in my family, ready to play a big game.

At about 5:30 pm on August 10th, I carefully analyzed the market. In the morning, Bitcoin has broken through the strong pressure of 12,000 US dollars. After a slight correction in the afternoon, it is bound to hit the 12,000 US dollar mark again, from 1 hour to 4 hours. From the perspective of cyclical trends such as the daily line, the K line collectively diverges and rises, which is an obvious bullish signal. So I decided to use my family's 1 million savings to open a 20 times leverage to do more. If Bitcoin successfully breaks through the pressure level of 12,000 US dollars this time, it will be no problem to rise more than 10 points.
And if Bitcoin successfully rises by 10 points, the 20 times leverage will double the funds, and 1 million will instantly become 2 million; I can fight for 20 years less, and the more I think about it, the more excited I decided to do it.

After recharging 1 million into the trading account, my heartbeat speeded up. On the one hand, I was excited, thinking that I was about to have 2 million, and I was extremely excited; on the other hand, because of fear, if I made a mistake in my judgment, I could beat the 1 million. The water has drifted. This is the hard work of myself and my wife. If I lose everything, my wife will definitely divorce me.
Thinking of this, I always feel uneasy in my heart. After I talked to my wife about my thoughts, my wife strongly opposed it, so I secretly transferred 500,000 to open 20 times the contract to do more. Unexpectedly, the reserved mobile phone number of the bank card was filled with me. Wife, when she found out that the money in the card had been transferred 500,000, she immediately called me and asked me what I was transferring the money to? I knew that I couldn't hide it, so I told her all about it. She still didn't agree, but it was too late and I had successfully opened the order.

Just in case, she asked me to buy 100 1-hour put options on BitOffer as a hedge against the contract. A total of 1,000 US dollars was spent. If the contract is wrong, the options will be profitable. Risk hedging.
Everything was done. It was 6 o'clock at this time. I sat on the sofa and waited for Bitcoin to rise. Unexpectedly, in the next 10 minutes, Bitcoin not only did not rise, but ushered in a sharp drop, from 12,000 US dollars to 11,500 US dollars, a drop of as much as 4%. Fortunately, I set a stop loss. When Bitcoin drops by 1%, the loss will be stopped immediately. Otherwise, all the 1 million positions will be liquidated and the loss will be lost.

In the end, the contract lost 200,000, but it was good to listen to my wife’s suggestion. I bought 100 put options. Bitcoin fell from 12,000 US dollars to 11,500 US dollars, which was 500 US dollars. The 100 options earned a total of 350,000, excluding contract losses. 200,000, I also made 150,000.
After this lesson, I will always buy a few inverse options on BitOffer for hedging whenever I play a contract after this lesson. After hedging is enabled, if the contract is opened correctly, the contract will make money, and I will lose up to dozens of dollars in the option principal; On the contrary, options make money. In the end, no matter what, there is always a product that will make money, so that the risk of the contract can be hedged.