Starting again with an empty account after being into crypto for 5 years. What I learned.

I got into crypto during the bear after the 2017 bull run. Btc had reached its top at approx 20k and it had started falling. I got in when it was around 10k. I used coin base, not even coin base pro. I purchased some and I watched it fall more and more.

At some point I discovered coin base pro and was fascinated with the trading aspect. I was looking at charts, order books etc all day long, but it made a small difference to my account since I had a small account and there was no leverage, nor low market cap coins which could make big movements.

Then I discovered Binance. When I discovered Binance the price of btc was around 4k. I started experimenting with trading a lot of alt coins. Some days were good and some days were bad. I managed to make some profit trading alt coins and I had 0.9 btc.

At that point I discovered BitMex and margin trading. I started making bets with 100x leverage. That 1 btc, gone. Very quickly. I kept putting more money and I kept blowing up my account. Overall I have gambled around 100 ETH (I used ETH whenever I wanted to fund my account on Binance and then I would swap it for btc and then xbt (BitMex btc). 100 eth, today is worth around 150k. During its all time high, the total eth that I chose to gamble instead of save, was worth half a million dollars, but I was not in possession of it anymore.

Recently I started investing in agix cause I believe that it will get big. And it did really well. I got in before the pump of the ai coins. I said to myself that I will set it and forget it. I wasn’t able to do so. I wanted more agix before I set and forget. I sold it all and opened a 20x long on btc thinking that with the profits I will buy more agix. And this brings us to the last dump that occurred which liquidated me for one more time. I was thinking that I had learned my lesson. I didn’t use 100x. Only 20. Well…still dangerous as it seems.

Now I have decided to start again. But I won’t gamble. At least that’s what I say at the moment. You never know with problem gamblers like myself. I will try to stick to my new plan, which is to dollar cost average into the Binance and CMC Index (the top 10 cryptos, the blue chips). That’s it folks.

TLDR: leverage bad, gambling addiction real, trying a new approach