Introduction
I am a South Korean cryptocurrency trader who first encountered crypto in June 2016. A friend introduced me to ADA (Cardano), and with little knowledge, I invested ₩600,000 (around $500) just because I heard, “ADA is going up.” This marked the beginning of my journey into the world of crypto trading.
Early Investments and the 2017 Crypto Boom
At the time, I was working as a mechanic and was preoccupied with my business. However, after purchasing ADA at ₩20, I saw it rise beyond ₩40. Encouraged by this, I decided to invest an additional ₩10 million (around $8,000) from a ₩50 million business loan.
By early 2017, my crypto portfolio had grown to over ₩100 million ($80,000). I used the profits to develop my own washing equipment and repay my loan. However, in just a few months, the market crashed following comments from the Financial Supervisory Service chairman.
First Major Loss and Entering Futures Trading
As a complete beginner, I had no idea how to profit in a bear market. Instead of watching my holdings lose value, I looked for alternative ways to trade. This led me to BitMEX Futures Trading in 2018.
At first, I made decent profits, but my lack of chart analysis and reckless gambling-like trading resulted in massive liquidations. Eventually, I lost several million won and quit BitMEX by the end of 2018.
At the same time, my repair business was struggling. I had to shut it down and return to a regular mechanic job, but my salary was barely enough to get by.
Restarting with Small Capital and Learning
With only ₩300,000 ($250) saved, I decided to start trading again on Upbit, a Korean exchange. Over the next few years, I slowly built my capital up to ₩2 million ($1,600) by 2021. However, when the bear market returned, I found myself once again unable to profit from falling prices.
I started researching ways to trade in downtrends and rediscovered futures trading. Unlike in 2018, I found an abundance of educational resources on YouTube, helping me understand risk management and strategy.
By December 2023, I transferred ₩100,000 ($80) to Bybit and began testing what I learned with live trades.
Struggles and Setbacks in 2024
Between December 2023 and January 2024, I faced multiple liquidations.
- ₩100,000 turned into ₩30,000
- ₩30,000 turned into ₩70,000
- Eventually, my total balance dropped from ₩2 million to just ₩10,000 ($8)
At this point, I thought my trading career was over. However, determined not to give up, I saved ₩160,000 and reinvested it.
Why I Created This Trading Diary
Now, in 2024, I am committed to analyzing my trades, learning from my mistakes, and maintaining emotional control through this trading diary.
- Purpose: Documenting my daily trades
- Goal: Understanding my losses, improving risk management, and developing discipline
- Future Vision: Becoming a consistently profitable trader
I believe that consistency and a clear trading journal will help me succeed.
👉 Follow my journey as I share my trading experiences, lessons, and strategies on this blog.
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“From my first crypto investment in 2016 to experiencing major losses on BitMEX, I am now mastering Bybit futures trading. Follow my journey as I document my experiences, trading mistakes, and strategies for consistent success in the crypto market.”