I played with leverage today!

I have been in crypto space since many years but never touched "leverage". Few hours back just out of curiosity I tried leverage on Binance.

I started with 78 USDT and used leverage of 3x with BTC, voila I made a profit of few dollars and felt like a king. I increased the leverage to 5x and the winning streak continued.

Next, I leveraged with Ethereum and leveraged 10x and it was wonderful. I was feeling on the top of the world, nothing could stop me.

After first timers luck the degen ape in me woke up and I leveraged 25x on ShibaInu and the house of cards came falling in front of me. All of my profit from earlier trades was wiped out and my capital of 78 USDT decimated to 50 USDT.

I was hysterical and went all in on Shiba again with leverage of 50x and recovered my loss and made a mind boggling profit of 5 USDT.

My take from my experiment with leverage :

1. Don't leverage, Don't play with futures, it is very demanding.
2. You will be constantly checking prices/profit or loss.
3. It is addictive and this gambling can ruin you financially.
4. My mental peace was gone and I was barely able to sleep for 2 hours and even in my sleep I was dreaming about charts.

conclusion - Don't leverage / play with future else it will destroy your future. If you want to do it properly follow stop-loss.