The last K-line with 50x leverage
At half past three in the morning, Chen Hao stared at the wildly flickering K-line on his phone screen, his fingers trembling slightly.
He had just opened a 50x leveraged long position on QI. The margin was everything he owned—32,200 yuan. This was his last month’s salary plus the money he had pulled out from Huabei.
"This time, it has to work." he muttered to himself.
QI rebounded from 0.001475 to 0.005080, nearly tripling. He chased in at around 0.0048, calculating that if it rose another 2%, he would make nearly 30,000 yuan.
A big V in the group said QI was the black horse of this cycle, with a target price of 0.01. Chen Hao believed it. Not only did he believe it—he even added leverage.
When the price reached 0.0049, his unrealized profit showed 1,600 yuan. His heartbeat sped up; his palms were soaked with sweat.
Then a red long bearish candle smashed down.
0.0045. 0.0040. 0.0036.
His margin ratio dropped from 80% straight to 15%. The phone popped up a forced liquidation warning. He desperately tried to add margin, but there were only 400 yuan left in his bank account.
0.0035.
The screen flashed—his position had already been forcibly liquidated.
32,200 yuan, gone.
He slumped onto the bed in his rental room. Outside the window was the gray, dim sky of Shenzhen. His phone was still ringing. Someone in the group was shouting, “QI is pulling back—get in now.” He didn’t have the energy to reply.
He opened his position records and flipped to the earliest trade. He had bought a bit of PHA last year—entering at 0.0491. He didn’t sell when it climbed to 0.0853. Later, when it dropped back, he was too lazy to cut his loss. That trade had only put in 2,000 yuan, which he’d long forgotten.
He casually tapped to check.
It was still there. The unrealized return showed 70.67%.
The 2,000 yuan had become over 3,400.
Chen Hao stared at that number for a long time, then suddenly let out a laugh. With 50x leverage he lost 32,000, but the PHA he bought on a whim was making money instead.
He turned off his phone and decided to sell the PHA tomorrow.
No—wait. Think about it again.
At half past three in the morning, Chen Hao stared at the wildly flickering K-line on his phone screen, his fingers trembling slightly.
He had just opened a 50x leveraged long position on QI. The margin was everything he owned—32,200 yuan. This was his last month’s salary plus the money he had pulled out from Huabei.
"This time, it has to work." he muttered to himself.
QI rebounded from 0.001475 to 0.005080, nearly tripling. He chased in at around 0.0048, calculating that if it rose another 2%, he would make nearly 30,000 yuan.
A big V in the group said QI was the black horse of this cycle, with a target price of 0.01. Chen Hao believed it. Not only did he believe it—he even added leverage.
When the price reached 0.0049, his unrealized profit showed 1,600 yuan. His heartbeat sped up; his palms were soaked with sweat.
Then a red long bearish candle smashed down.
0.0045. 0.0040. 0.0036.
His margin ratio dropped from 80% straight to 15%. The phone popped up a forced liquidation warning. He desperately tried to add margin, but there were only 400 yuan left in his bank account.
0.0035.
The screen flashed—his position had already been forcibly liquidated.
32,200 yuan, gone.
He slumped onto the bed in his rental room. Outside the window was the gray, dim sky of Shenzhen. His phone was still ringing. Someone in the group was shouting, “QI is pulling back—get in now.” He didn’t have the energy to reply.
He opened his position records and flipped to the earliest trade. He had bought a bit of PHA last year—entering at 0.0491. He didn’t sell when it climbed to 0.0853. Later, when it dropped back, he was too lazy to cut his loss. That trade had only put in 2,000 yuan, which he’d long forgotten.
He casually tapped to check.
It was still there. The unrealized return showed 70.67%.
The 2,000 yuan had become over 3,400.
Chen Hao stared at that number for a long time, then suddenly let out a laugh. With 50x leverage he lost 32,000, but the PHA he bought on a whim was making money instead.
He turned off his phone and decided to sell the PHA tomorrow.
No—wait. Think about it again.