Bitcoin Forum

Though I lost so many times earlier but this one is bit tough. I was bearish on bitcoin when it was around 30000$ but it went up and up and touches 40000$. I lost around 1000$ and I was ok but I do not know what happens to me suddenly in the heat of the moment I decided to go all in with 100x leverage, with no technical analysis nothing, as I was sure about bitcoin reaching 50000$.
And that is it all my bankroll which I build from 350$ vanished my hard work of 6 month gone.
Now I am broke. But I know I will build my bank roll again over the course of few months but oh man this is tough.
I hate this feeling. Guys no matter what don't be impulsive in trading.

Such is life. Getting too greedy or getting too desperate can easily put you in a far worse situation.

Obviously, your 2 choices are:

1. Stop trading altogether and do something else for money.
2. Learn from that big mistake, never do it again, and next time trade in a calculated manner and NOT in an impulsive manner.

If it's the case that you really aren't looking for advice but you're just posting to let your feelings out, then chin up! We all make stupid mistakes sometimes, with some people even making far bigger mistakes than yours. Hopefully when you say "broke", you meant that your trading bankroll has been shaved off but not necessarily that you're going to be homeless or something like that.

Anyway, I wish you the best of luck moving forward!

 Are profits tax-free in your country?

Rough. This is why you should separate your emotions from your money, else it will cause undesirable things to your finances in the long run. At the least, you already know what went wrong and why it went wrong, and you would know the next time how to avoid such things from happening. You can always build your bankroll from the ground up if you know what to avoid and what best practices are there to keep. But also keep in mind that you can always topple that bank roll in a moment's notice if you let uneducated moves urged by emotions get the best of you.

In the meantime, try to do some small trades and start from there, especially if the money isn't really easy to come by on your end.

Losing money always sucks no matter how high or low the amount, is it is always difficult, however I am going to be direct, the fact that you could start with 350 dollars and then convert it in 17500 in just 6 months which is a 50x gain tells me that you have been taking massive risks from the very beginning and it was just a matter of time until your whole capital was lost in this way, so I hope you learned your lesson if you decide to keep trading otherwise this may happen again.

Why did you do that?
Weren't you obsessively telling us to cash out our profits as a dump is coming (https://bitcointalk.org/index.php?topic=5301495.0)?


For such a bear like you and also an experienced trader, going x100 long seems a bit weird at least!


If indeed the sums and the story is right it's actually a miracle he has reached this far, playing around with 25-100x leverage and most importantly having to put almost everything at stake every time it's not about knowledge anymore is pure luck, and as luck works it does run out.
It's like professor Pigskin betting advice, with every consecutive move made the number of traders making the right choice once more is trimmed down a bit, do that for 6 months and you can count them with one hand.

Yeah I was the one who guessed ATH same day (just hours before). I guessed it with exact time frame and you are right that I knew (with 80-90% certainty) that dump is coming for short period but I don't know how in the moment I took the risk without even giving it a thought. I am not a gambler  I know how much self discipline and careful bankroll management it requires to build decent bank roll. But again just information is not enough you have to have realization. That is tilt and widely known in many sectors and it only make you stronger. I just want to share this here that's all.

There is no clear law regrading income from crypto trading, though trading in general is tax free.

Leverage trading shouldn't just consider without doing some analysis. Although at some point that even a professional analysis goes wrong, it's still good to act when there is a reference rather than doing emotional trading.

Not easy to say that you have to move on as I don't know the feeling of losing such an amount but only you can help yourself.

Come back when you think you are ready. There's always time to create the next chapter of doing trades.

That was your biggest mistake — not having a trading plan/strategy. Once you trade hands free without recourse to fundamental and technical analyses, just know you've crossed the thin line between trading and gambling. From your story, you merely gambled. I hope you learnt your lesson with that and have restrategized for better trading experience. Don't trade without acquiring the basic set skills for trading. Trading isn't for the faint hearted. Again, your $50,000 projection will come to pass but the truth about trading is that the price lines don't move straight to point. The lines behave like children sent on errands. The children don't head straight to where they're sent without branching off. $50,000 is feasible but it may burn many traders' accounts before getting there.

100x and all in? That's not tough but a stupid decision.
You should not trade more than 1% of your entire portfolio (per 1 trade) that you hold for leverage trading. Even if you lose 1-2 even 10% of your bankroll while following this, there will be consistency and you will also be able to add more margin to some of your positions if you have something extra on your hands so that it will come your way. And losing 10% still leaves you 90 chances to trade.

Every traders and starters went through that, and I know that feeling myself. But in fact, such loses is really a win -- a win in such way that you've learned your lesson and you've somehow invested in having that kind of frustration in losing in trading. But keep in mind, a profit is a profit. either you earn 10% or less, you must be happy. But one thing you must ensure on your self before engaging again in trading, do your capital/margin are those that you aren't afraid to lose? If it was so, the frustration would be less as you know yourself that the money you'll trade are just a small portion of your money and just your spare money.

You can still keep on trading, but never trade because you want to earn. Trade because you want to win and learn!

You are right but I hope you will learn how to profit from your mistake.

The OP did cross the line when she makes her trading decision footing no analysis but this January market trend totally surprised us all cause it trend was different from the previous market, what I am trying to point out is that even people that do technical analysis make losses during the December market which OP was bearish (https://bitcointalk.org/index.php?topic=5301495.msg55867613#msg55867613) on. But the OP makes two mistakes, which is no market analysis before investment and she also chooses the risky part of trading which means she is indeed greedy as stated by others.

Well, I admire one thing, you used the word guessed, not predicted, as for the self-discipline you proved yourself wrong and it was all that it took one time, either you lost confidence in your own reasoning or you saw an opportunity that wasn't really there, at this point it makes little sense either crying over spilled milk or analyzing why the milk was spilled.
 There are a few users here that are always telling people that a good trader is not one that makes huge profits in a bull market but the one that avoids losses in a bear season, it's the same about those urges to go on huge leverage, the ones who can keep their fingers from doing stupid things are better traders than the ones who manage 4 strikes in a row randomly.


And you need luck.
A lot of traders always avoid the discussion about luck because they want to portray themselves as being better than gamblers but in the end just one episode of bad luck like a stupid event happening just seconds after you took a break and that's all it was needed to destroy your trades.



That's sugarcoating BS, just like the experience of being evicted from your home and living 10 years on the streets will toughen you up.
A loss is a loss and no amount of knowledge learned will make that loss go away.

That's bad, you don't have done to 100x if you don't have an analysis which is the next move. It's a risky thing to leverage without having a backup and why would you put your entire portfolio with that bet. The effort you've done for the past months with your starting capital is now gone because you were one of those who got liquidated.

I already more than 4 year in cryptocurrency trading, but i never touch leverage trading. This type of trading similar to gambling, and  about 80% of trader loss money from it. You should be stop trade on margin trading and avoid greedy, its enough to trade on spot market and invest in strong coin and hold it for a few month, this easy strategy also promising multiple profit.

I was concerned with the OP now, knowing that this post was at the start of this year. I'm not sure how he handled his mind knowing that it reached his target but because of the volatility, it just didn't went his way already and treated trading as gambling. I hope he is okay now and recovered. It's great that he made it all the way to $17500 from $350 though. Pretty sure he can do it again.

Just saw this post because of the necro poster above. 

---

You can miss out on potential profits if you didn't use leveraged trading. I mean, it's good once you know how to use it efficiently and not just doing wishful thinking with your trades. It's better to know what you are doing before doing anything else.

Ive lost and gained . Just stick with it and you will be ok. But like the others say, do not be emotional or follow others. Do your own observations and analysis and just try to make enough to live on safely and allocate some to do riskier trades. Good Luck   :) :)

Although it's hard to loose all your hard earned money in a single trade but you yourself being an experienced trader knows that this is how risky crypto trading can be.People outside think that prices are increasing suddenly and invest without any analysis and become greedy to loose their money which is their biggest mistake.Same happened with you as your technical analysis was ignored and it was the main cause for your suffering.But be determined and get up to recover from your loss and convert them to your profits again.Trading is not everyone's cup of tea but you knows how to make 50x or 100x gains as you converted $350 to $17500 within 6 months and you can do it again.

I hope you will find a way to recover from the loss and other people can learn from your mistakes. I have done similar stuff alone but with small money which I could afford to lose. The feeling is bad but better times and trades will come.

One of the most common mistake of a particular person when dealing up with trading on where they indeed become impulsive or become much confident
when they are earning profits and when that thing happens they do forget out on following those risk management and tending to go all in because
they had profit out on initial tries or position and when things happen and we know that nothing is guaranteed when it comes to price movement
then you'll surely be fucked up and wont able to recover when having that all-in kind of behavior.

Op, I think you lost the opportunity you had this time to remake your profits you did before, which might have recovered your loss or part of that. Better stay out of markets for a week at least because I expect too much volatility because the news from institutions are doing nothing but breaking the balls of crypto and in this time of sorrow, we must stand united and keep our funds safu for more buy opportunities that will be available soon.

Learn a lesson on the mistake that you had commited.This proves out that when you do make yourself get greedy then you will basically be experiencing this kind of mistake.

Take some break and try to realize those things and when you are already prepared again then it isnt bad to go back to the start just like on what you had did before.

Set things according to plan and dont be greedy and make yourself consistent and sustainable which this is the primary goal or target.

Trading future is not suitable for someone who doesn't know about technical analyst. If you don't know about technical analyst then yeah you just commit suicide trading in that place. There is a leverage feature that make many people lose their money, even you can lose your money in a few time if you use high leverage like you 100x, I do not understand that you choose that much leverage.

I guess it will be different if you choose spot trading where there is one direction to make an entry price and I guess it will save you for this market sentiment. Many people still see that bitcoin price movement is still in the bullish market although we have seen a huge dump that has happened. But technically buying bitcoin right now is good then we just only see a bitcoin price movement.

We can see that the experience is indeed very expensive, but here I see that progressing without preparation is very bad and risky, and chasing losses is something that should not be done in the future. good for you because you have found a good patern in the future bro, I hope you can be successful in the future

I didn't think that he was chasing losses, he just chose to not stick to what he first believed in when the prices has gone up to 40k USD and leveraged, OP didn't consider that there might be a correction at that time. Hopefull this person can recover his losses and it has been 4 moths now since this OP and I think that OP might've recovered already even a little bit.

even though your guess is correct when you believe bitcoin penetrated $ 50000, but you are not balanced with a strong basis, which without analysis, I doubt that such traders will find it difficult to survive in the long term. it is proven by you still don't have a good psychological well. therefore we learn together in order to survive in the market

why you let this happen? Probably you're not aware on such situations when it comes tradig with crypto currency.. And for sure you didn't even monitor it because seems you're basing on long term..  It's a big mistake mate in my personal opinion, especially right now wherein there's a lot of issue just to create a masive correction in the market.  Now see what's the results it's always too good to be true to be honest.

Better be doing technical analysis and not just pure decision driven by emotions making you to just go with your guts and instincts specially when you are about to trade for a big amount of money on hand. May this serve you as a big lesson as big as what you have loss because if not, you will just be repeating the same mistakes and will probably cost you a lot in the end. Make sure to always keep in your mind that doing trading must be put into moderation and not just deciding based on what you feel about the situation. Remember that with such way you are vulnerable to be taking loss rather than profit. Be wise enough on making decisions.

Due to unpredictability of this market then its really hard to tell to someone on what they should do because even with our own analysis we cant even tell that it would really be precise or would happen.

What if it did really paid off or the guess he made was right? Of course each decision would really be accompanied with some analysis and considerations before making any step.

Its a little bit mixed with gamble though which is the reality but with these kind of mistakes in related with emotional and psychological then it should really be resolved out by oneself.

Thanks for sharing this, let your painful experience be a lesson for many.

At least you know now that gut feeling isn't always the right feeling, trust me we've been there.

All that matters now is that you don't repeat the mistake because as you say, it does take a long time to accumulate that amount of money. And, don't make it worse for yourself with the 'ifs' and 'buts' just take the really hard lesson.

Sorry for your loss, but maybe you learned something especially you can achieve $17500 from $350 maybe you already good in trading and only need to maintain emotion. Maybe with this you can know how to be patient and took a right moment so you not do same mistake again. Hope you can get your profit back soon.

You get the lesson a bit rough. I can feel the devastation that you experience because I've been in the same spot before. The most painful loss I got is when I trade just using my guts, No Technical analysis, no research, no everything. I know that you can rebuild your bankroll again because you have been doing it for the past 6 months, just don't make the wrong decision that you made before.

I'm sure there are many stories like this today after so many liquidations happened. I just hope that your not the type of broke people that has literally zero money or the type of broke that affects you badly in real life.

right, psychology plays the most important role in trade. although in practice it is always contrary to conscience. controlling emotions when we are floating minus or floating plus until we reach the target is not easy, and we are required to master it

Don't  get frustrated.
Keep going on one path.
If you thing you have lack of knowledge about trading then learn first.
Then try with small amounts.
Then if you thing you are better than you was before then start again..

Guys maybe he already recovered? Or maybe he completely quit? I mean this was a topic that started at 13th of January and we are in at the end of may right now, maybe we should let it go? He hasn't even been online for over a week so maybe he already stopped caring as well. If we are going to talk to other people on behalf of OP and giving advice people to not be like OP that's a good thing but I am seeing some of you still writing to OP and that is not really a smart thing to do, that makes no sense, it has been over 5 months since this dude lost his money, he ain't reading here even to this day.

However I do agree that this should be an example to every other person, dude says he didn't do any TA or anything and just jumped the gun and did a 100x leverage, that is literally the most wrong thing you could ever do in the crypto world without a doubt.

you are bankrupt because of your own mistake playing futures trading mate, you should stay away from futures trading, because it is high risk,
 in the bul market it is better to play in the spot market, even though experiencing correction is still very reasonable,
and you will not lose your money before selling it It's different if you use leverage, of course if you make a mistake you will lose your money for good, I am sorry for you

Yes. Everyone is trying to console him but he was very wrong to enter a trade with doing proper analysis and due diligence. To make matters worst for him, he used a  very high leverage as well for the trade. I don't know what he was thinking playing with such high leverage. Exchanges that offer leveraged trading always mention how risky it is and try to warn customers when they try to overleverage and yet he still went ahead to do it. Risks wasn't managed here.

As I have often said, trading is not an easy thing to do, we can make big profits and can also experience big losses too. It depends on how we control
our emotions when trading, because I agree with you that psychology is the most important part of trading. Therefore, for those who can control
their emotions well when trading, 70% of success should be obtained, maybe the rest is related to technical problems.

I never thought that trading was easy, I would apply it, including psychologists, including an important part where we have to control from dissolving emotions and also other greed, this usually happens when the target has been reached but wants to be increased higher and usually this is what a lot of trapped in. in a bow that is too high.
Analytical techniques, indicators that are also needed in trading I think this will not be easy to combine, and when losses occur we have to be able to not escape the tension.

I was once a culprit of not taking profit after my trade moved in my direction  and reached my target the greed to earn more profits prevented me from taking profits however the trade reversed and I ended up losing that particular trade  I believed the use of stop loss in trading is very useful to ensure reducing risk, the OP over leverage his trades consequently resulted to the massive losses, it is a pity losing such a whopping sum of money in trading.

What happened to you shows once again that cryptocurrency trading is a very serious and high-risk process. Moreover, when trading cryptocurrency, you either need to have skills or reliable information in order to ultimately make a profit. But you need to understand that everyone cannot earn money, which means that if someone made a profit, then someone else spent the money. Also, in order to trade, you need to have funds that you are ready to lose, otherwise you can get a big psychological blow. Also, trading is the acquisition of experience, which is certainly expensive, and if you were able to gain experience in trading, then you really wasted your time and money.

Be careful and don't be like someone who killed himself because he lost all his assets in leverage trading during this current downtrend of crypto market. That's just a money that you can still earn if the market will pump again. Always have risk management and manage your emotions properly to avoid some bad things that can happen in life.

Wow, honestly, this is a pretty sad story, and to be sincere, I've gone through this before, so I pretty much understand how you feel, though my loss wasn't as high as this, but then I lost over 90 percent of the amount I had in that account, and I traded with 100x leverage as well, just like you said, I've been losing before, which have always been no problem to me, but after I made the 90 percent loss, I decide to quit trading  ;D, the stress and frustration was too much, lol, I decided to just stick with investing and keeping for a while to grow, I've always sucked when it comes to trading by the way, so I quit for good to have peace of mind.
Sorry for your loss mate, as long as you believe in yourself, you will come back strong, don't let the loss wear you down, its one of those things we experience on our ladder to success.

wow that's so crazy !, $ 17500? why can you lose money that easily mate?
You should understand that if you want to enter crypto currency it is very volatile and you have to manage your money management properly,
it's a shame if you lose so much money, it must be very painful, in the future don't play in futures trading

Yeah right! life is more important if you made a mistake then work on it and try to find the right way to recover. Learn from that experienced and look for much better way to make things appropritate with your desire to bring those losses back and try to gain benefits.

Go  a little bit deeper in finding the right system, rushing things out won't help but instead, try to established plans that will lead you to avoid making the same things over and over.

Take time, chance will open it's door again make sure that you already know the timing.

I feel you and I suggest do not put in more than you can afford.

Just do with smaller amounts and always cash out profit do not put max amount to the trade and always check the market, In this dump, many people got chance to get out but many lost.

I heard some other story as well where he lost everything during the recent dump all his assets were in crypto... I feel really bad for him. If you are earning good why do you want to go over trading just stay calm do some sports/activities and gather money, Invest in some other stable things, not in crypto?

Regards

You can lose up that fast when you do deal with futures or leverage trading depending on what you had set out where losing big amounts is piece of cake or get easily liquidated.

Its not a shameful thing since theres no perfect trader in this market.The mistake here is that they havent set out some risk management thing in case the market would dip down that much.If we go back on where dipping down 40% hadnt happpen in couple of years which lead up to some sort of confidence but it did happen recently

There are still lots of sad stories like this which hadnt been surfaced or known.On this market there are only two type of investors which the one is on profiting and one is on loosing side.

Actually, the post in OP is from January 2021 and if only he had held strong he could have made some really good money pretty easily. Just need to keep believing and avoid panicking and it's not even that hard since we have seen the same trend for years now. It feels bad when people lost money because of a correction or dip but we do need dips to buy bitcoins so it's similar to friction - a necessary evil.

That is really the story of the market right now. You need to stay away if you cannot withstand these dips and swings because most of the times traders will get overhyped during bull runs and sweat during bear runs. I don't think BTC will go down further but hey I was also thinking we might never go below 40k again ever and we know what happened.

I know how it feels to be like that. It really stings and caused a heavy heart if I were in your shoes. I would be depressed and gonna be stressed for so many days if I lose money like that.

However, going all-in is a bad decision on your part. My sister back then asking me some advice if she can go all-in on Bitcoin rather than saving in her bank account, but I told her not to. Diversifying, doing her own research and learning how to manage funds by putting an amount that she can afford to lose is what I advise her.

You should have thought of not going all-in man. I know that it’s tempting, but very risky.

Because OP have his/her emotion decide what to do next when OP is trading at the riskiest way in crypto which is leveraging which is pretty stupid considering and assuming that OP should have some experience in trading and that OP should've known by now that emotion isn't the way to trade. I hope that OP has reclaimed back some of his money because it has been 5 months now since this thread has been posted.

Never ever in your life do 100x leverage on your bankroll, it's just committing suicide.

On 100x leverage, 1% negative price movement is enough to make you liquidated. In crypto world, it's very, very hard to catch the absolutely ideal price for your futures position, that's why you have to use low leverage. The max to my mind would be to use 10x leverage when you are highly confident that it's the lowest price to buy right now. Even with this, doesn't matter how confident you are, always set stop-loss on every order. It worths to use stop-loss order and miss great chance rather than risk the whole capital. Crypto is very risky and you need luck here too.

Why do you all like doing this? And moreover your headline and your write-up is confusing me a lot. First of all you said that you lost $17,500 according to your headline, and then you said you lost $1,000 and also you lost $350 you have been building for over six months? Well whatever it is I believe that you have learnt enough lesson and you’re going to be careful from now on. You took a really big risk by doing that.

I don’t know what pushes people to take this kind of risk of investing everything they have in assets like this, knowing very well how risky it can be, it’s very bad.Please try to avoid this kind of mistake, don’t go all in, take it slow you will reach there.

I love your energy bro, this is real energy.
Before I can say something, I'm gonna tell you sorry about the heavy loss, today's mistake gives you strength and experience tomorrow.
Listen up bro, I will encourage you not to quit this, everyone has their respective strategy that works for them, I'm not good at leverage trading so I will never try that, it's impressive to see this strength of raising $350 to his unexpected amount, what's left for you to learn now is risk management and control, I will advise you to start up again when the market regains her stability.

I think he means to say that he lost 1000 dollars first, then he went all in which is either 17.5k or maybe 16.5k because he already lost 1k, and that was money he earned all the way from starting at 350 to reaching there. That is what I imagine he means in the message, start at 350, then get to high level of 17.5k, wager 1k and lose, then lose the rest on an all in.

I do not think that people like these learn their lesson that easily, they either give up completely and call it a rigged system or whatever, or they end up spending even more to earn more. This guy said he went all in and he doesn't have money left so I am assuming he will be the first type and not the second type, that way he will end up with some sort of huge grief and keep saying bitcoin will always go down and any chance he gets he will call it rigged against poor people and it is whales' toy.

I just hope you have something left to go back into the game because seriously bro we all make dump mistake and is alright to make them Just make sure you dont repeat it again and also try to take some profit off the table in USDT incase of market dips You can go shopping at those times

We will not underestimate the market and you can lose everything you have if you got mistaken. Everyone should be aware of this possibility, in fact, not only OP had suffered like this but many. To ask how to stop this? That will depend on you, it was you you can decide, if you are too careless enough with your trades and out of focus, this will be your possible ends. What we gonna do in order to minimize losses, take trading seriously, avoid being emotional as this a big factor.

Posts like this are the reason why you need to wait until bitcoin makes a move before you either go long or short. There are many traders right now which lost tons of money. And they redepositted more money into their exchange account and are reverenge trading.

Basically they want to make it all back, so they are using leverage and most likely whether they go long or short they will get liquidated. Most likely if they go short, we will retest the $42K area at least and stop them out. Then they will trap bulls and most likely retest the $30K low and take out even more traders. It could trade like this for weeks. And people will get liquidated because they are caught in the chop. Best to wait and see which way it goes and then make a move.

This showed that cypto trading space is not just an easy thing, just like what the others thinking about it. It represent only that doing trade
in cryptocurrency is full of risk while doing it in the actual platform of trading anyway. So sad for what happened to the author of this topic, its not the end of the world yet dude, you can still move forward and besides your not the only one who encountered that anyway.

Sorry about that mate, hope you’re going to be very careful in case of next time  so that you don’t end up losing your money again. There are a lot of people that lost their money with this new decrease. I have sold a part of my coins before the crash, and I am still holding some of them in Bitcoin, TRX, ETH, Neo, and Cardano.

I did lose some money but I am not much worried about it. The reason why I am not worried about that is because I have already planned myself before now, and I was ready for any decrease in price that was coming, so it isn’t a surprise to me, I planned for it. This is why it’s very necessary to take profit when you can and leave the rest. There are people who don’t take profit because they say the price will increase. Personally I think that’s greed.

Should be a lot more careful as you mentioned you make an investment without analyzation but instead it's because you just feel you're bullish while its obvious the market is struggling to go up after reaching ATH the market correction also eventually gonna come, but many people also speculated that the bullish isn't over and we are just halfway but thats just speculation right? however what you do is basically gambling and it's no wonder that you gonna lose money eventually.

I lost my 2k $ but i think it will recover soon because it’s a rule that after uptrend come downtrend so I'm holding my fund.

That's very bad you don't have to take that kind of risk you don't have to use 100% leverage you are to desperate which is very bad you will always endup losing money whenever you are to desperate in Cryptocurrency. I believe you shouldn't make that kind of mistake or I believe you are probably a newbie in trading. If you are trading future I believe stop lose is very important just because of this kind of unforeseen dump that just happen that must people don't really expect, if you have used stop lose I believe you won't really lose this kind of money and you will have some fund to start again with. Pls make sure you go and learn about risk management before going back into cryptocurrency.

'Feelings' are not to be used in trading. This is the biggest mistake people make and they lose.

The OP also didn't really seem to have taken a moment to think much about the investment and aped in. Unfortunately, this just remains as a hard lesson to learn from. You can't trade specially with margin in a market when the waters haven't calmed down properly, you'll play only with risk.

One of the mistakes when you are still noob into trading and honestly i had experienced this one on where i do rely with some gut feeling that the price might go up in next hours or days
and thats my indication for me to put up investment but sadly those turn out to be opposite and after than you would really be making out self realizations.

Emotion is one of the most common enemy or things that you should avoid when trading. If you do just mind off and make out decisions based up on your hunch
then thats really a bad idea since this is simply gambling.

You would definitely go broke if you do have this kind of method. Making out positions without any basis and purely depending with emotion and random choice.

You can still recover it as long as you hold good projects and you didn’t sold during the bottom price that’s a good benefit of not panicking. I’d also incur some paper loss because of panic and I don’t mind it actually because I know the market will always recover and that’s the cycle of cryptocurrency.

i have been these situation before . and it was hard  when you lose your money hard earned money (its hard to be such situation ) . but do not lose your hope . you need to focus on your mistake and never repeat them again .

(it hard to grow and easy to lose )

It's impossible to stay relaxed when you see $10-20k movements and that too within a span of few days because saying to someone "keep calm" is easy but it's impossible to implement. I was at a friend's funeral some time ago and it was easy for me to everyone there, calm down everything will be good. The same happened to me when I lost someone very close to me and I could not even sleep for a few days despite everyone saying to me, calm down.

Not sure what path you mean, if you mean to hold tight then I agree because that looks like the only possible way of earning.

I literally challenge anyone who can predict which way the market will move, UP or DOWN. I mean even the best traders you bring, no one can predict the correct movement consistently.

If you have invested in bitcoins just hold them and maybe even forget about them if possible for a few years, that has been the best earning strategy for me.

That's easy to say but if you don't have the money to start over again, it will be a different story, you will probably be out of commission in crypto trading because you have to save money to fund your trading.

Hoping that you will also take such advise. Trading isn't for everyone, if you try with no success then you know you have to quit and try other thing. I don't trade because of the challenges and emotion involved in it. To me it is a difficult area of life and because of the difficulty to understand, I better stay away from it and watch. But you need to guide your trade very well not to keep making mistakes.

This is why you don't associate your emotion in trading especially if it is leveraged. You just like gambled going all-in with that leverage and no plan at all and your only goal is to recover your loss. Many people are ruining their life in leverage trading, the profit can really be huge with just a small capital but if you don't plan your trade you will likely get liquidated if the market doesn't go the way you want. I don't suggest to do leverage trading especially if you don't really know how to read charts and use different indicators. Even pro traders are very careful diving in with this type of trading.

The most important thing about making mistakes be it big or small is what you did learn from it. That single wrong move that recked you 9f months of work and resources, what did you deduce from it and at what point did you get it all wrong. Figure that out and build on it then, you might just be paving a way for your success.
One good thing about you for which, I'm happy of is the fact that, your not giving up. Some loose and just breakdown, not wanting to start a fresh so, they find a way to discourage themselves by labelling bitcoin as a scam or some sort of ponzi. Well, its best to know that bitcoin is nothing like ant of those and as such, it pays to be experienced in the field especially as a trader. Do your analysis and be conscious of news. It would help.

means that your cryptocurrency balance doesn't decrease, it's still the same. the correction that occurs is a natural thing where the market experiences a saturation period, so it is impossible to continue to experience a rally. If I am in your position, maybe I will do the same, be patient waiting for the bullish market to return

Its too pity that all our efforts in 6 months was all of a sudden gone in just in just a short while only. Well, good luck to you dude, if you think you can take it back again, that would be a nice play for you. Just all I can say when you play don't be greedy  if your in the actual play game just relax and enjoy it only.

This has a lot to do with the tests that life puts you, if you managed to build all that money in that time, just apply the same strategy and intelligence to do it again, this reminds me of Robert Kiyosaki when they asked him if he could go back in time and if you had a phone to call yourself what would you say? He himself said that the only thing he would say is to go ahead and do everything as it is, and this is so, both in trading and in life you have to see things as the breaking point.

It is not to feel bad because you lose, in trading we can lose everything, such is the case of Jesse Livermore, he became a millionaire 5 times and 5 times he fell into bankruptcy, he finally recovered and was fine, the bad thing was that he committed suicide, The reason is unknown, but I am sure you learned many things to reach $ 17.5k, this time do not make the same mistakes, and as Jesse Livermore did, whenever you win, allocate 50% of your earnings to enjoy the money, Whether traveling, sharing with the family, among others, there is the secret of all this.

X100, might aswell go to the casino.

You build your portfolio from $350 right? Means you are still in profits but you done a mistake by taking a chance which is almost impossible to happen. Don't gamble with crypto trading it may work some time but not going to work every time.

Next time make sure that you will never repeat the mistake again and if you ask me better do the spot trading instead of going with risky leverage trading.

Another example of taking crypto trading so easy. People think that crypto trading is just buying at dips and selling at high, they totally forget that it's very hard to find what's dip and high. The biggest mistake made by new comers is that they jump in with huge money without having any experience and knowledge of trading and ends up losing it altogether.

You don't get what OP mean. He was over confident about his pick but in the end he lose his money due to huge leverage he put, he is putting risk to lose his money aka Go big or go home just by his instinct bitcoin will up again in very short time. Sad for him to lose that amount, if he was patient enough, he could make decent profit because bitcoin has touched $64,000 few months later.

So sad to know this, and many people also experience this.
Well, it is risky to use a loan for crypto trading or investment.
It is risky to trade with panic and also greediness.
It is risky when we are all into trading and investing.
Because of the risks, we must be aware at first that someday we may be losing our money very easily.
but, in fact, we can also still getting profits.
The matter is how we become ready and smart in trading. The market of crypto is always volatile, there will be always a dump and pump. We cannot expect for increasing price always.

It is very bad with you that so much money has been lost. I wish that your 100$ goes to 17555$ in future. We don't know which point you make entry because in previous months market is at all time high and when this trend is going everybody knows that market can pullback any time because big investors are in profit now and they will eat your money very easily and whose money you eat nothing. So always go for a active project. take entry at their deepest when panic sale going of that coin and hold  you always make money.

Your loss is because you didn't properly analyze the market and tried to stall the train while it was running. I still often make mistakes when participating in derivatives or futures trading. For cryptos that have surpassed their ATH, their value will increase many times so master technical analysis and have trading options to ensure risk.

This is like you entered a war with no enough weapons and ammunition and no gameplan at all and thats really risky 100% leverage is kinda high you can gain huge amount in seconds but you will also bankrupt in seconds its a lesson learned OP, better make plan next time and stick to it.

if you have done futures trading it will make us addicted, why?
because in futures trading, of course the capital that we trade, will be 2x to 10x easily if all your analysis is correct,
but it is true that the losses we will get are also getting bigger, even your capital may wll lose, so follow the trading rules and you will be safe

Seen OP's story it means maybe he really confident with his prediction because he said there are no technical analysis. That is maybe be a mistake, maybe we should't under estimate how market work so we must be keep on position or maybe condition which really good in trading. But see the title is $17500 from $350 so OP you actually really good trader, sorry for your loss. And maybe he already get his profit back now because it is already many months.

Doesnt have technicals doesnt mean that it is already wrong since he had presume that the market wont really dipped down for 30% which we know that its likely to happen easily within this market
and thats still be considered to be an analysis.

Also, not all technical would be precise but i agree that it is much better to have rather than nothing at all.You wouldnt know on what comes next and when it comes to fund management
then people should really know on how to handle it.

OP isnt the only one who got wrekt by this market but there are still lots out of there.This should be a lesson learned.

The problem with the OP is that he said he didn't make any analysis. So it is like he is putting his money on the market blindly, which is actually not very good. Even if we say, TA will not work all the time, at least you have idea on what may happen. But here, it is like he is punching in the air. Anyway, that will be his lesson and by now, I guess, he already recovered. As long as we live, we have the chance to earn money.

This is not a good idea and anyone who does like this will surely end up broke. Even just knowing the basic knowledge about crypto is not good enough to make a good profit and most likely we still have a big chance to lose. In order to avoid such a thing, we have to enhance our knowledge and skill, we need to level our understanding as that only the tool that could help us otherwise, we be just like OP.

Sorry for your loss! I think everybody have had their share of bad judgement! I am sure this experience will help you a lots in your future trading! The first thing on my mind when opening a position on any trade is safety of my fund and I must say this have limit my profit but have kept me safe ! It important to be guided by established principle, money is emotional and trading priniciple will protect in the heat of emotions!

I'm sorry about your loss. Well, you are one of the people who had to learn lessons the hard way. I'm sure by now you must have understood how not to make this mistake again.
I think you should take some time off trading for your mental health. I'd have said you should take the time to learn trading but you're already a good trader but it doesn't hurt to know more so learn more and then you'd be able to come back to trading better and stronger and you'd be able to recover your funds in no time because you'd make calculated trades now.

That's pretty sad of a story but enough of that I guess. Your mistake is a good lesson for others to learn and try to look at the positive side that you will help prevent other people from doing the same mistake. There will be a brighter future for you OP, remember that as long as you live, there will be hope for the next day.

You should thinking more than twice before trade on futures markets, and avoid trade based on emotional and greedy. $17500 is alot of money, and by this amount you should be make invest in separate differents intstrument of asset. $1k is enough for margin trading and the remaining of your fund should put on others assets like real BTC, High cap altcoin, Gold and good stocks.

hey , i also lost almost $ 20k on recent bear , but , i cant just die because it , u know what , that just reminded me to why i soo stupid spending almost 18 hrs/day watching the shit price movement , and i must pay for it.  Now what i do just play NFT game and earn from it. of course , i just stay away from "trading" , too much time and money wasting on that job. eventhough $ 18k i got from trading, but , my greed is too much and they take back what they give.

Completely broke means:

1. You did not practice stop loss. Bad idea.
2. You did not put money you can afford to lose. Also very bad idea.
3. You have the chance to learn a great lesson. Buy crypto and hodl with money you can dispose. Earn back with a proper job salary what you lost and look back on this as a great experience.

Dealing up with market on very active manner would really be taking lots of patience towards the market and of course you should really be minding on how you would gonna be handling out your time and funds effectively and losses would really be always part of the line.

If you cant just easily accept that you do lost and trying out to quit just because you are afraid for further losses then you dont actually have that investor kind like of mind but i cant really blame some on not to have those kind of reactions since money is valuable and we cant just afford to lose even more.

When it comes to losses then i dont usually make some tally or list out on how much overall that i had lost because you can eventually presume out if you are on positive or negative and the most important thing is that you do able to sustain yourself.

Quit or continue. You do only have two choice and its up to someones personal choice.

This is how most often unreasoned all-ins end. You decided to play roulette with a bet of 1 to 100 and lost, there is nothing to be surprised about and nothing to worry about. You yourself took the risk and lost.
These are the rules of the game. Just accept that you are unlucky or that you shouldn't have done that, decide for yourself. But they hope that here they will tell you that you are a fine fellow, this is unlikely.

Nice comment! Leverage is pure gambling, and you are 101% right, the OP decided to place a very risky bet and he lost... it would be the same if he decided to play any other gambling game! When you are gambling and risking you need to be ready to lose!
With that said, don't do something you can regret later! What OP can do now is to try to not make the same mistake again... that works for others, try not to make this mistake, to go all-in with everything you have on a risky bet!

I really understand your feelings very well. I also survived this way. During that period of time, I was tortured every day. I lost 8 pounds a week. I didn’t want to eat or sleep. I didn’t have any interest in anything. It felt more frustrated than being broken in love. ,, staring at the plate, tossing and turning, waiting for dawn with eyes open, watching the sun rise, but my world is dark, without a trace of light, my heart is like being cut inch by inch by an unsharp knife, too tormented After that, I summarized some of the reasons and improved my ability to withstand stress in such a catastrophe. Although I have not yet recovered, I am confident that I can do it next, because I have not been knocked down, and all those who can’t kill me, Will make me stronger. You also have to have confidence and stand up again. Together we will. Stand up again.

I’m invested in several coins, and due to the current swing, ive moved my initial investments into USDT (won’t lose or gain their, but it’s safe) and the house money i profited  is still sitting in Bitcoin, Ada, ETH etc…
My money maker is in a stable utility token, IMC…. Been going up for last 7 months… slow, but increases daily…
But all this, obviously, is my personal strategy… choose what’s best for you.

Not most of the time but i do agree that this is gambling and due to greed of most newbies they do really burned out themselves quick and would realize into the mistakes that they had committed.
I was once of those noobs who do really believe about quick bucks with leverage until it burned or blown out my capital in short time and able to realize that it isnt something a noob that could
handle on.If you do have good analysis or experience in the market then you might have chance but the risk is on where we do talk about and depends on how someone could able to accept it.

I think you understand that your risk management is poor. Margin trading is the fastest way to lose money.
At the same time, you take this risk yourself, which means you had to accept it from the very beginning.
The fact that you are broken only means that you were not ready for this, you went all in.

This is why I say that trading isn't for everyone. It requires skills as much as it requires patience. You never go on leverage when you're not sure of the market, and never do it with 100x.

The reality is that people will nonetheless try it because they want that quick money but it is stories like this that puts the risks in perspective. It is tough to lose it all but you've got a valuable lesson out of it, and don't forget you made the money once you can do it again!

^ Definitely right and I must agree with your point of view. Trading is required skills and knowledge and this is not an easy way of getting profit. When you see that the market suffers losses because it is in a bearish situation. You can take a break in trading or just do a little scalping while waiting the price will surge back. If you don't have enough skills on this, I suggest you pay attention to the investment process which is a very simple way of making a profit once you have patience holding on to it.

the usual reason why they go all in even with insufficient knowledge is for the hope that they will get good profits but most of the time, we will hear sad stories afterwards. that's a learning lesson for them. and next time, they will be more careful and they will at least do their own assessment before entering again. because if they will commit the same mistakes again and again, i can call that as stupidity. no one will help you but yourself in this market. don't rely from others' perspectives. you need to take care of your own business here.

In my case I like to call it bankroll or capital investment, the problem is not losing $ 17k or $ 100, both can be difficult to recover for anyone, the problem is thinking that this could not happen ..... although that is not the main problem , the detail is not having the backing of money to start recovering.

I read you and it is like reading any player who makes a bet and thinks they are such a winner that they forget about the "safe bankroll", that is, if the probability is not 100% guaranteed, you are destined to that the percentage against you appear and lose, losing is the rule of risk in any type of investment, you should always have at least 10x of what you invest and the normal is 100x or more, you should never invest it all.

The positive is that you know how to start and if you did it once, there is no reason not to achieve it, but starting with $ 350 may not have the same achievement time, please do not repeat the same mistake.

Taking risks is a part of trading and getting sometimes a loss and sometimes the coins which give you a loss will also give you profit but the main point is never to lose hope. Try again this time with a small investment and wait for some time and hold them to give you a bigger profit than you expected

Right. Any information should be perceived critically, moreover, there is always a factor of uncertainty, when events about which we do not suspect anything,
for example a disaster or Elon Musk's tweet, break the whole game for us, turning the market in one direction or another.

trading margin should did by beginer traders who haven't good skill in technical or fundamental, we could loss our money easily if you dare to do it. Crypto market was not the way to make us rich in short time , but it could be place to make us poor in short time.

try with small investment will trained us and also test our trading skill , emotion and also psychology.. if we could consistant with small amount, add it gradually will be good step to growth our portofolio.

This is where take profit and stop loss plays vital role. No guru can accurately tell how long a trade can sustain a given direction and so therefore it's always good to always take profit to avoid regretting. If you had applied stop loss and had shifted it above your entry point you would have left the trade with a profit. Shit happens though it's part of your own trading experience. Hope you recover soonest

Sad stories or wrekt experience is something been casual already on this trading market or topic where there are people who do lost up big time just because of having wrong perception which do end up on wrong
position or trades which it did really cost them big.

Going 100x is suicide..I do only touch up futures with 10x and wont get past on that number and thats the only percentage where i can took up some risk.You would really be basically messing up your life.

Invest or trade on the amount you can afford to lose because you wouldnt know on what would happen next.

First of all you should have to cash your tokens or coins etc as we are all observing the news in which when there is a dump coming we should be aware of it and we have to make our tokens out of trading and then there will be zero percent loss and in most cases a little loss. But this is called trading you have to be ready for loss as well as you will get some profit too.

That is indeed tough. I had done the same thing as you did but instead of such a huge amount I lost around $500.
Still I felt like I lost a lot but I am confident that I will recover this amount just by holding bitcoin for the long term.
From this I learnt a lesson that never trade crypto unless you are very sure about it and you have done your analysis well.
Not to forget that stop loss is a must.

This is really a huge and extremely stupid mistake, even if I am bullish on my life that bitcoin will reach 50k still I would not go for 100x leverage because of the very simple fact of fluctuations. We all know that how much bitcoin fluctuates, and with 100x leverage, your liquidation point must be just around 40-50 points below the current price, which means you gave zero breathing space to your order. I hope this lesson remains in your mind forever, the only holy grail for making money in this market is protecting your capital and keeping risk minimal. Impulsive trading isn't trading it's just gambling.

Bitcoin is very volatile and I feel the emotion and pain of losing money that you are feeling after investing a lot of time into it, we just have to keep trying till we get it right.

The moment you lost your composer and started trading with your emotions ,that's the moment you lost not when your account was gone. Don't revenge trade after losing this is very dangerous.

One step at a time, you have done it once you can do it again.

DO people still read this stuff. The OP was back in January, Jesus Christ.

This happened about 8 months ago guys, let it go. Dude already explained that he lost because he did 100x leverage without knowing anything about it, and that is normal. At the end of the day, if you do 100x leverage without knowing anything about the market or any research on it, then you are going to lose all of your money too, everyone will lose money, it is really nothing abnormal to lose that much money if you are doing something this silly.

I get that time to time people find this topic and they want to say how wrong it was, but even OP knew what he did was wrong, nobody in the world thinks it is smart to put all of your money into just one 100x leverage. Sometimes some people do it, even though they know it is wrong, because the upside dream of having 100k+ even 200k+ depending on the increase sounds very tempting, you could make a lot of money this way, but the downside is losing everything you own, and that is why sane people don't do it.

This is the big risk we have to take when we trade Crypto using this method. Leverage 100x will be profitable if the prediction we make is correct, but if it is wrong then we will lose a large amount.  
Again, we have to be careful in this trade.  This has happened to you for quite some time, but it will be a lesson for me. Since I am a small trader, I would not use too high leverage in trading.