This Binance life token says it won't drop, says it won't go up, so I tried it and unexpectedly experienced my first liquidation. #Cryptocurrency market rebound
Liquidation will lead to the staked tokens and margin being completely cleared. If there are other positions running, I'm afraid those positions won't be preserved either. Among these numerous currencies, all my losses are because I entered these small amount tokens to start spot buying and selling, and then made contract orders for that token, executing orders. The actual situation is that encountering these small amount tokens just leads to continuous losses, which will become a cycle of loss starting point. These small amount tokens are not trustworthy; only tokens with legitimate momentum will have stable market conditions:
Look at this liquidation, after the liquidation, the detailed contents inside still attached a K-line chart trend before the liquidation.
I placed a market short order at around 0.305, and this position was executed at 1:35 PM. Because I only opened one position, I found that after logging into the platform, the dollars in the U-based contract account and the margin, except for a small amount of residual BNB in related accounts, were cleared to 0.
Before the forced liquidation, the other party will send an email to your Google mailbox, informing you that unfortunately, you are about to be liquidated. Below are my recent profits and losses, whether from spot or contract, I have been losing continuously, and this first liquidation was based on the fact that I did not set a stop loss or take profit.
$BNB
