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/biz/ - Business & Finance

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File: 33 KB, 1129x357, biz help me pls.png [View same] [iqdb] [saucenao] [google]
29092081 No.29092081 [Reply] [Original]

OK so I just did an isolated margin trade with money I don't have on Binance. Kind of shitting my pants now, not sure if I can cancel it.
How badly have I fucked up?
need help from anons pls.

>> No.29092115

I'd like to get off this train immediately.

>> No.29092178

How do i stop this hahahaha
if i now owe 3k im gonna rope

>> No.29092209

>>29092081
Stop fucking around with margin you fucking idiot, this isn't a joke. You won't just lose your money, you'll put yourself in debt for years. Fucking retard, did you see some WSB shit and think it'd be funny? You are gonna ruin your life over this if you keep doing it

>> No.29092249

>>29092209
Is there a way I can cancel it?

>> No.29092275

>>29092249
Pay it back retard.

>> No.29092325

>>29092275
how!

>> No.29092454

>>29092325
you deserve to lose your money

>> No.29092457
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29092457

>>29092325

>> No.29092458

can i seriously not cancel it?
how do i make it stop

>> No.29092502

>>29092325
You just find the borrow / repay button next to your position paid.

>> No.29092552

>>29092457
yeah I think i've fucked up badly, i can't pay it back because I don't have funds to

>> No.29092560

>>29092249
Invent a time machine

>> No.29092569

>>29092552
sell the btc first retard

>> No.29092601

>>29092458
The chinks are on their way to your location

>> No.29092628

>>29092569
says my account equity is 1k from this but i owe 3k

wtf wtf wtf does this mean

>> No.29092665

>>29092569
Not necessary
>>29092552
Yes you do, You're balance is 0.11 btc and debt is 0.08
See https://www.binance.com/en/support/articles/360030486591 though I'm sure this is a bait thread.

>> No.29092702

>>29092665
this is not bait, pls jannies dont close the thread
20 yr old newfag

>> No.29092708

>>29092628
Price is dumping + fees + interest.

>> No.29092744

>>29092702
Go contact support then retard.

>> No.29092766

some chinese people with baseball bats will ring your doorbell very soon, i highly suggest you open the door for them

>> No.29092805

could someone help me if i give my discord?

Reee#8589

>> No.29092822

>>29092628
what this anon said
>>29092665

you're about a grand in front
equity - balance minus debt

>> No.29092893
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29092893

>>>how badly have i fucked up

Its literally over bro.

Its going to decades thousands of handjobs behind the taco bell dumpster to recover

>> No.29092904 [DELETED] 
File: 30 KB, 442x621, biz.png [View same] [iqdb] [saucenao] [google]
29092904

>>29092822
dude what do u mean i literally cant pay it back

>> No.29092943
File: 182 KB, 1000x1000, 1593284475958.jpg [View same] [iqdb] [saucenao] [google]
29092943

>>29092628
the value of your current position is 4200. because of your trading + fees + BTC price changes, you own 3200. account equity is how much cash you basically have right now if you were to cash out AKA the amount of BTC you'll have after you pay the loan

dont fucking margin trade jesus fucking christ you idiot this is a huge sell signal

>> No.29092982

>>29092904
CLEARLY you didnt read the support article I linked you. In there it states this:
>You need to repay the same coin as what you borrowed. For example, if you borrowed ETH, your account needs to have ETH when you make the repayment. You are not allowed to use other coins for repayment.
Seriously OP get it together.

>> No.29093002

>>29092904
just write to binance support and try to negotiate some kind of deal so you can pay them back at some point. they're not gonna be happy about this.

>> No.29093007

>>29092904
sell whatever you bought with margin and buy back the AVAX fucking retard

>> No.29093009

>>29092904
you have zero avax to pay it back

>> No.29093083

my heart is beating out of my chest

so i use the borrowed BTC to margin buy back AVAx?

>> No.29093132

>>29093009
>>29093002
>>29093007
What did OP say before he deleted his post

>> No.29093156
File: 80 KB, 645x729, 1592839270943.png [View same] [iqdb] [saucenao] [google]
29093156

>>29092943
you OWE 3200*

>> No.29093166

>>29093083
Yea 100x it retard. You're doomed

>> No.29093177

https://youtu.be/1jzSmcWEro0
Go watch the video

>> No.29093228

>>29093083
yes retard
just buy back the 114.5 AVAX and return it

>> No.29093236
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29093236

>>29093132
he deleted this. op just use your BTC to buy AVAX and pay back the loan. then you can do whatever you want with the remaining AVAX

>> No.29093237

>>29093083
op you're fine faggot, listen, crypto is unregulated, that means binance can't take ANYTHING from you that wasn't already in your account. It's not like regulated markets where the bailiffs will turn up. At the same time binance could go offline permanently tomorrow and take all your money and you would be fucked

>> No.29093248

I think i fucking did it, my "total debt" is back to £0.000000

holy shit i could cry right now

>> No.29093267
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29093267

this you OP?

>> No.29093329

in all that panic I made £27
holy fuck not worth at all
jesus christ fuck this hahahaha

>> No.29093331

>>29093248
Don't touch margin trading before you know what the hell you are doing.

>> No.29093337

>>29093248
>he deleted this. op just use your BTC to buy AVAX and pay back the loan. then you can do whatever you want with the remaining AVAX

great, i'll call CZ and tell him the situation is sorted, he should be pretty relieved

>> No.29093362

>>29092209
you can't get in debt from isolated margin, retard

>> No.29093374

>>29093248
Considering your track record of not understanding what you're doing, I don't believe you. Post a pic of your repay tab so we can be sure. (it won't dox you or anything theres no precious data there). Also in the future maybe research financial products before using them. GL anon

>> No.29093405

>>29092209
>You won't just lose your money, you'll put yourself in debt for years.
uhhhh... no you won't, there is a thing called liquidation

>> No.29093451
File: 51 KB, 1075x540, biz help.png [View same] [iqdb] [saucenao] [google]
29093451

>>29093331
I promise I won't

>>29093337
I thought id ow him 3k

>>29093374
here

>> No.29093466

>>29093248
We did it reddit!

>> No.29093503

>>29093451
You did it, good job anon. Careful out there.

>> No.29093536

>>29093466
im not from reddit pls stop bully
im just a retard, not a redditor!

seriously though thank you to everyone for the help, was shitting myself big time

>> No.29093552

>>29093451
Now do it on a 20x

>> No.29093610

>>29093329
Someone explain. How did you go from being down 3k to being up 27 bucks

>> No.29093622

>>29093552
haha fuck you
my hands are shaking, not a joke

>> No.29093719

this thread is such a massive sell signal

>> No.29093736

>>29093610
he wasn't down. he had 4k total, of which 3k was borrowed

>> No.29093762

Honestly, if you're looking to get your feet wet with leverage, I highly recommend futures over margin trading.

>> No.29093872

It’s funny how 4chan(nel) is considered the worst place on the internet yet all these people went out of their way to help a (likely redditer) retard

>> No.29093900

>>29093329
27 quid
beer and lunch at the pub after that mate

>> No.29093904

>>29093872
im not a redditor i swear!

>> No.29093973

>>29093872
I'll have you know I did in the most belittling way I could. Still I'd prefer not to watch even the most market ignorant users hand money directly to CZ.

>> No.29093980

>>29093904
We’re happy the chinks aren’t gonna come for you anon. Just having a little fun at your expense is all :)

>> No.29094027

chinks were trying to lure me with a measly $200 0% margin. Almost went in thinking whatever it’s not my money I’ll just delete my account if it goes bad.

>> No.29094041

>>29092081
You are all tripping right? OP you may lose all your money depending in what you did, but will get margin called (liquidated) before you owe even a single penny.

Besides, to do margin trading you need to move money TO your marging trading wallet. I really don’t think you did this by mistake.

>> No.29094111

>>29094041
I have 1k worth of AVAX, I had just deposited it from avalanche, I did not move it to any margin wallet

losing 1k to me is still a big deal so even if i didnt owe anything, losing that 1k would make me sad

>> No.29094119

>buying AVAX on margin

>> No.29094171

>>29094119
no i was selling it i think
my faith in my avax friend is dwindling

>> No.29094190

>>29092209
Is this a meme? Do people really believe that a platform like binance would loan people money that they can't pay back? That just doesn't make sense businesswise

>> No.29094211

We saved him bros, crisis averted.
OP, don't play with the Chinese.

>> No.29094247

holy fuck i still feel sick
thanks guys, hope you all have a great evening

>> No.29094298

>>29094171
I mean if he was shorting it (even if inadvertently) it still would be a good move lol. Can’t wait to seek this garbage. Actually I should short this shit.

>> No.29094320

>>29094247
i shouldn't, but fuck that made me laugh

>> No.29094634

>>29093872
I always try and help anons on /biz/, especially with tax related questions.