Just got liquidated by my first 10x margin call.


It honestly wasn’t so bad. I put $100 into Algorand yesterday via KuCoin and used their 10x margin trading features to borrow $900 for a total of $1000 on ALGO. In less than 24hrs it dipped low enough to get me liquidated. Now I have about $17 worth of ALGO leftover.

Totally worth it to learn how this all works. Still feel very new to all of this as I never had a “financial literacy” background before I got into crypto. Where did I go wrong? Should I have started with a smaller margin? Or gone all in on LUNA or AVAX instead?

EDIT: Wow this community is very helpful! Truly appreciate all the input, needed to hear all of this. In retrospect I think my psychology was that I was having FOMO for missing out on ADA’s gains lately and convinced myself we were in an epic bull run and tried to force a major gain without doing enough due diligence.

submitted by /u/BAE_CAUGHT_ME_TRIPPN
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