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Well, there are more than enough posts today about the crash and reasons and analysis... doom and gloom or HODL HODL HODL..... So, this is not going to be one of those posts!

This is just a little post to share my experience of yesterday's sudden downturn, and to just see what other people's experience was!

Where were you when...

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So, just as the crash was happening I was just about to go on stage for a performance last night! I got an email as I was waiting in the wings, and so I just stopped to quickly check it. It was an email from Bitmex, a crypto derivatives platform where I had been playing around with a small amount of BTC to see how it all worked. In my first month there I had a stupid run of beginner's luck, and so I was able to double my small amount that I had put it.

However, this email was a little unexpected, seeing as I normally only get login notifications from Bitmex. It was a note saying that my long ETH position had been liquidated! Ah crap, that meant that the position that I had was cleared and I lost the entire amount that I had bet on that position. Very soon after, I got a message saying that my BTC position was also liquidated! Wow, the drop was so fast that my stop-loss orders never even got time to trigger and execute! I had learnt my lesson from this little experience, set my stop-loss a bit more conservatively and maybe exit at market rather than with a set limit.

Ah well... some days you win, and other days you crash hard! The least I can do is to learn the lesson and take solace in the fact that it wasn't very much money. However, the past day has been crazy volatile on Bitmex, but having been burnt, I'm a touch too scared to jump in at the moment withe remainder of my balance. I might just wait for things to settle down a bit before getting my feet wet and beginning the slow build again!

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