First off, you might want to mention to readers that the US only allows accredited investors with provable liquid reserves of $10,000,000 to use leverage. None of those sites/apps you mentioned will pass a US citizen through KYC/AML. Don't say VPN because if the exchange catches you, they can seize your deposits lawfully.
It kind of sucks that the majority of your readers will not be able to do anything you describe and you never ever mentioned it.
You also say:
<<Note, that this is not financial advice, I’m simply describing one of many of my strategies that I will use to generate life changing money for myself. These strategies are highly risky and could lead to a complete loss of capital.>>
So you say you're describing a strategy that you will use to achieve life-changing money for yourself, the in the next sentence you say it is highly risky and could lead to a "complete loss of capital".
I suppose going broke is life changing money".
But it appears like you're telling people you're sure you will profit but not them doing the same thing, disingenuously. I know you say later on that you might have to adjust your strategy should something happen ("complete loss of capital"?) and that you will keep everyone posted (like they're going to take your advice any more after you go broke and they go broke listening to you) but you are very non-specific.
The fact is that leveraged trading is gambling and that's why you have to be an accredited investor to legally use over 25% margin (4:1 leverage).
There needs to be a giant disclaimer on any posts like yours which says: OVER NINETY PERCENT OF TRADERS USING LEVERAGE ON CRYPTO EXCHANGES LOSE ALL THEIR MONEY EVENTUALLY AND DON'T COME BACK.
and
BUYING CRYPTO ON LEVERAGE IS LIKE PULLING A SLOT MACHINE HANDLE
This article was very irresponsible of you. Not sure what made you think you are qualified to give trading advice BEFORE you've made your first million in the market??? Then admitting you very well could get wiped out and will need a new strategy that you can't share right now.
This whole article is a poor lemming leading other lemmings off a cliff.
Folks: If you use 100:1 leverage which these sites offer and many do, you lose ALL your money if the coin moves 0.9% against you. The average crypto swings between 2-6% on a AVERAGE DAY.
When you buy crypto on any exchange, the exchange is the counterparty to the transaction. They don't match buyers and sellers, they simply take your money and attempt to balance longs and shorts by adjusting the funding rate, something most people pay no attention to.
The exchanges conspire (bankrupt FTX founder Sam Bankman-Fried who was just sentenced to 25 years in federal prison showed a screenshot of Binance founder CZ chatting with him in a Signal app private chat labeled "Exchange Coordination" and claimed that they could and did manipulate the market at will) to not just profit from funding rates, commissions and transaction fees but take the opposite position to counter clienf trades. They are actively trying to liquidate their client positions. If a client is liquidated, they keep the money. If not, then the client will have money to withdraw (they hate that) or spin the wheel with and possibly land on a big number.
This guy is selling you something that he doesn't understand and hasn't worked for him or he'd be doing it right not talking about how it might not work and stay tuned if you go broke, he will guide you back to solvency.
Can't believe Medium even publishes garbage like this.
The exchanges are casinos so yes you can get lucky like in Vegas. But make no mistake
