Seeing some people mock perp traders, but yesterday was different. Even the risk averse guys I know lost a lot.
Let's say you had bids at Fartcoin at $0.30 at a reasonable leverage (eg. 3x).
Imagine you watch the price, it is $0.60 and you watch some Netflix on a Friday night, you have limit orders at $0.30, thinking that these stink bids will never fill. Then suddenly price starts nuking because of the Trump news and your Telegram alerts pop off left and right. You pay attention and start dreaming about filling with size. After all, Degen Ping said to bid on this exact day. Minutes later you're happy because your Fartcoin limit order fills. You almost can't believe it. Generational wealth next.
3 min later your 3x long is wiped out because Fartcoin touches $0.10. Brutal, but I can imagine a similar situation happened to many last night. The Generational entry that nuked lower than what people could think was possible.
Check in on your friends. A brutal day for many. Peace.
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