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“Here we go, another disgruntled trader that just wants revenge for losing all his hard earned money!
Well, for the record, Iām not telling you not to use Bybit. I am sure that there are many traders out there that think Bybit is fantastic in every way. Itās just me writing a review of my experience of trading on Bybit and how I lost a lot of money, and more importantly, why.
Also, Iāll say the obvious, trading with leverage always puts your money at risk.
I have studied a lot of T.A. trading analysis for at least a year before placing my first trade.
However, you can do all the TA in the world and look for the strongest setups, matters not a jot!
As soon as I place the trade, it reverses, and you might think, ah! itās just a pullback or correction, you might think, but then the pullback turns into an impulse and keeps on going! You think, I must have read it wrong. So you are now in a losing trade. Iāll bite the bullet and pull out, and guess what, within minutes it reverses and goes in the direction that you originally wanted.
Now, Iāve never said that I was a lucky person, definitely not. But when trade, after trade has the same effect on the market my mind goes into overdrive! My little trades are affecting huge markets, really?
I was losing, again and again! What was I doing wrong! Stress was through the roof. I was doing the support and resistance levels, fibs, trend analysis etc. Every time the trade went against me. So began to suspect that someone was moving the goalposts. So I started to research and found TJ āSpoon Manā Jacques had had very similar experiences to myself. Heās done a video on youtube 'HOW BINANCE, FTX, BYBIT TRADES AGAINST YOUR POSITION? THE SCAM' https://www.youtube.com/watch?v=lGuv0lEE8yg
I thought to do some experiments, and found that if I placed a counter trade in the opposite direction that the market froze! And started to consolidate, it would then fluctuate up and down a few dollars. The algorithms couldnāt cope, whichever way it sent the market it wasnāt making much money, but neither was I, it just proved a point!
This is blatantly fraud!
So there you have it, you check for yourselves. I hope you donāt have the same experience that I had.
I am seeking legal advice at the highest level.”
