I am a 20 year old female with limited trading experience. I have been involved with Bitcoin since 2016 and I have never had much capital to invest. I had never used Bitmex since I am located in the USA and I was always afraid of margin trading. My first real experience with Bitmex is detailed below.
It was January 21st. I had just deposited $3,000 of the $4,000 worth of financial aid I'd received. I was keeping my margin under 50x. (Given my liquidation point this seemed reasonable to a noob)
I placed an order for 25000 Ethereum contracts during a Bitmex overload. This happened to coincide with the rest of my financial aid ($1,000) going from pending to credited.
I accidentally wound up with two orders (since I had this extra money confirm it) and I was instantly liquidated once the overload settled.
I emailed Bitmex's support just hoping they could do anything at all because I was so desperate, but of course they referred me to their terms of service.
This has been financially and emotionally devastating.
This is the first time I have ever even talked about it to anyone. It has made me extremely depressed and even suicidal at times.
I had already encumbered such serious losses throughout 2018 (from holding my 2017 gains down).
I see the potential in cryptocurrency. I wish more than anything that I had never tried my hand at trading and had simply invest and held. Don't be like me and so many others. Only trade what you can afford to lose.
Sincerely yours,
The stupidest person in all of Crypto
Naomi Moon
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from Bitcoin - The Currency of the Internet http://bit.ly/2V3niuo
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