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I have been trading in Binance futures the last month or so and it was going really well
I was using my own judgement, analyzing TA etc, following people on the leader board and following signals
All was going great and was dreaming of buying an apartment which on my current directory would be in about 1-2 months

However it all went down the toilet. One free telegram group I am in, which does have good signals, sent me a signal for a long on Wednesday evening I put on the trade and it hit target one, however kept it open with a TP at target 2. I was crossed at 20X which was the leverage I had been using for the last two weeks.
Well it all went to hell. We had the major dump and I lost it all.
I know I should have quit the trade before and put my money in a short but I had done a couple of other such trades and the market had fallen only to go back up. I just hit my liquidation point and the coin did recover up to the TP target.

Now I want to dust myself up and start again, learn from my mistake but I have lost my mojo with it all. Up til Wednesday I was on a winning streak and everything was going well but I dont trust myself now.
I put on a trade and if it falls by 20% (leveraged) I close the trade only for it to go back up.
I am looking for strategies or tools to try and figure out a better game plan with futures, I can see huge potential just need to get focused and try again   

We are all going to experience losses one way or the other. That's just how life works and that's going to be continuous throughout. What we can do as traders is to be consistent with our strategy and know-how to risk management. It's always going to be a factor. Greediness and satisfaction with what you have would be a key factor to be ahead.

One tool that you could probably use is Gunbot. If you are interested in it, it would be helpful for you. It could trade for you. Message me if you want to know more.

Risk management is a huge issue for me had it with spot trading but is especially true for futures. I saw a YT video which mentioned this it said we have a great habit of wanting to sell quickly a trade thats going in the right direction in case it reverses but hold on the a losing trade on the hope it goes back.
I am good at setting realistic TP targets but not SL
I will TP at 20% but set a SL at 50% which isnt good

I'm sorry for your hard learned lessons and can only recommend you to work on your risk and position management as well as your discipline when it comes to cutting your loses according your plan.  Also I'd recommend you to give these books a read (or get the audiobook on Audible):

What I Learned Losing a Million Dollars – Jim Paul (https://www.amazon.com/Learned-Million-Columbia-Business-Publishing/dp/0231164688)

Mastering the Trade: Proven Techniques for Profiting from Intraday and Swing Trading Setups – John F. Carter (https://www.amazon.com/-/de/dp/B07HYBLP69/ref=sr_1_1?__mk_de_DE=%C3%85M%C3%85%C5%BD%C3%95%C3%91&keywords=mastering+the+trade+carter+third+edition&qid=1616946394&s=books&sr=1-1) … Especially the first 5 chapters

The Disciplined Trader: Developing Winning Attitudes – Mark Douglas (https://www.amazon.com/-/de/dp/0132157578/ref=sr_1_14?__mk_de_DE=%C3%85M%C3%85%C5%BD%C3%95%C3%91&dchild=1&keywords=trading+in+the+zone&qid=1616946467&s=books&sr=1-14)

Also I'd recommend to not blindly follow signals or other traders but to build your own profound knowledge on trading to make your own analysis and decisions.  And if you do not yet have a trade plan for your trading: develop one!

All the lessions you need is in you. You don't have to do any more magic but to go on your paste and you will get back to your winnings. You had a plan that you got profit but you lost focus and went for a telegram group which is where your trouble started from and that has put fears on losing on you which is natural. But you have to get up and continue what you were doing right and take away fear.

No, you should trust yourself and stay away from the signal group, they will distract your game plan and make you confused and not decide very well which way to follow, your game plan or them.  You should trust your capability in trading, as you have said in the first paragraph, using your own judgment by using your own TA.

You might need to use the stop losses strategy, so if there's a huge drop of the coin that you have picked, it will automatically cut your loss.  There are automated tools also that will execute the stop loss on behalf of you when you are AFK (away from keyboard).

That's good news on your side you can able to manage your losses, again, there's no need to be greedy and be careful in every decision.

The telegram group I am in overall is good but nothing is 100%.
Many of the profitable trades I did was based on their signals. It was just the dump that killed me

Not a signal channel but does anyone know a website that analysis coin TA and indicates if you should buy or sell it it
I know Trading view has some such features or what is the best way to do mass TA across binance

I don't want to sound rude or offend you, but only be honest: it was not the dump that killed your account. It was your hope, that if you stay in the trade long enough some magic will happen and turn around the market to save your account.

As you said: you've done it before and it worked out in the end. This is working wonderfully – until it doesn't work and it'll doom your account. My rule #1: I know my entry and all exits before I enter the market. And I stick to it as my life would depend on it.

https://youtu.be/-2y38NHzoKQ

@OP, Sorry about your loss. But I would suggest not giving up yet on your dream of acquiring an apartment yourself. You can either take some time off to reflect on your mistakes and then come back to start the rebuilding process or you head immediately into the rebuilding process. The bull market is still on and there's still a lot of upside potential yet to be experienced. That's why you shouldn't give up yet.

Also, I'd like to suggest you consider trying out Isolated margin in your futures. This, alongside your risk management should ensure that you don't blow up your account (aka lose it up) due to cross leverage. Additionally, you should reduce your leverage size till you get more experienced.

This happened because you believe into someones work, especially on that telegram group this is why having your own analysis is way better than to depend to anyone. Besides, features is very risky so you better do your own analysis, to avoid loses like this.

This is a lesson to be learned for everyone, we should always do our own analysis and its not always about winning, losing is inevitable in this market and you just need to be more consistent and keep trying to earn even a small profit.

Do you know you shouldn't trust blindly on anybody and should not put in a trade what you cannot afford to lose? Trading needs patience, hodl, etc. but if you do it at a very high leverage of 20x, then no strategy is going to work. Stop doing shit, keep calm and don't trade for some days as you may lose more because of your psychological nature and behavior that will make you to go for high leverage under the greed of recovering everything.

Relying on opinions, signals of others, groups to build up your career is bad, very bad actually.

All will be good till the day it is destroyed. You need to open and finish many positions successfully to get what you had along with high pressure you accept. Unfortunately, just one or two bad positions which were liquidated will wipe out all you have.

Additionally, 20x leverage is very risky that is for gamblers. Especially, traders who are relying on others are truly gamblers when they use 20x leverage.

Try to build up set of indicators that you will use for your trades. Leave any groups you are participating so far. Get rid of your dependence on them.

Leverage: minimize your leverage from 2 to 5. The max leverage you should use is 10x. Only use it if you know what you are doing with position, price and where to cut loss and close your position to protect your capital

Why do you not trust yourself now, knowing that you were just following those so called "signals" in the first place? There's a reason why those "signal" groups are heavily frowned upon, and that if you want to trade, actually learn trading yourself.

Also, if I understand correctly you've only traded for 1-2 months. It seems like you've earned good money in your first month, and you got a bit too cocky the following month. If that's the case, control your total bank roll when trading; don't unnecessarily allocate significantly higher amounts of money on a single trade just because you're a bit more confident.

That's why One of the Best Weapons in Trading (https://bitcointalk.org/index.php?topic=5173189.msg52086364#msg52086364) is very important in trading.
Having stop loss is a very lifesaver for traders. Especially in the case of you OP, you already in profits but you still didn't manage to put any stoploss? Even what you did is moving your stop loss from your entry price or from the TP 1, so you already in profits no matter what.
Another thing is, over leveraging, this is one of the most problems of future traders. Seems the 20 cross leverage for me is very high.

You really shouldn't be using those trading groups, most of those are scams. And they are especially dangerious if you are using leverage , such as 20x. And you can see how quickly you lost it all.

20x doesn't seem like much however if you long BTC now at $55000 your liquidation price is essentially $52500, which is only a little over 4% which is considered very low volatility with crypto.

You need to learn how to trade yourself instead of copying other traders. Imagine if those trading signals you got were profitable... what would you do if one day they just closed their doors and didn't give you any signals anymore... what would you do. Hence you need to learn to trade yourself and not rely on other people.

Learning from our mistakes is a must.. Indeed it really help us to readjust the situation and it will let us also to make a correction in our strategies and etc wherein just to avoid losses especially when it comes trading.. So for short if we ignored our mistakes it can cause losses everytime when we enter trading.. It's not like always wherein there's just a factor that we can't prevent because of not being aware in every single mistake.. There is a big advantage actually in my opinion..

All mistakes hopefully can make you more mature in making decisions in trading, all traders must have experienced losses even though they have been in trading activities for a long time.


You should have more confidence in your own analysis, while all the signals given by the group you are participating in are only for comparison.

It looks like these losses are really driving you down, before you end up losing all the capital you have, better for you to quit for a while from trading until you find confidence again.

Traders do have losses, but future trading is more difficult, on binance you can borrow up to 125x with the funds a trader have on binance, the more the leverage the more the losses. Even as spot trading is so risky and many traders found themselves losing, future trading is more. Some people will still go for 125x levegae and lose more and more often. But you are right, experience matters a lot, but what someone needs to really understand is to know how to manage risk, especially by reducing the leverage used.

If you rely on signals from others it means that you still have plenty to learn.
Trading is about good decisions and risk management. Luck/mojo is involved, but you simply can't expect that last forever.
And you should know how risky leveraged trading is. Sorry for your loss, but you should have lowered your expectations and probably also risked less.

Take it as a lesson. Be more careful. After a couple good trades you'll be back in the game, but don't get too confident/greedy, because then this "history" will repeat itself sooner or later.

Instead of listening to signals why not really learn yourself so you can plan your own trading. We almost have the same experience, last February I managed to earned almost 2000$ from my 500$ capital in futures but because of greediness I still did not took profit that time. And thinking that I could make money quick out of it, I increased my margin then almost got liquidated. From that experience, I now know what they say risk management. I am hooked now watching Reyner Teo's youtube channel, he teaches alot about trading not just about candles and charts.

Strategy? Don’t ever use high leverage because your trading is very risky and purely a gambling. Second, Always use stop loss especially on your leverage trading and lastly, Never trust public telegram channel that giving away signal, They are just using your money just to pump the coin they enter earlier then dump at once once they reach there target profit. Waiting for all TP to hit is insane considering your leverage.

Be patient always in trading, 

If you have never lost money then you are not a real trader.Welcome to the real traders club.
Now put your regrets aside and get back to work.Maybe you should stop using leverage and maybe you shouldn't trust Telegram signals groups that much.
I know the feeling when you are on a streak and everything works in your favor.This is just a phase and it ends eventually.Great traders are the ones,who recover from a great loss and get back on the right path.

I'd be a lot more careful in the future if you're going to trade more and count yourself as functional only when you have "mojo". Trading is supposed to be boring and dry and dull my friend. If you need mojo to trade, then you're treating it more like gambling.

Take a break. And then go in again when you're ready. With money you're HAPPY to lose.

That is your mistake. I guess you do not have your target price to close the trading and you want to make a bigger profit. It is hard to wait for the price to reach your target 2 because that will depend on the price moves. My suggestion is to set your target price to close the trading and whenever you see it reach your target price, close it right away because we do not know if the price can still increase or not.

It is a good lesson for you as you do not need to become greedy for more profit because everything will not always happen as you want. Next time, you should know when you need to close the trading and take profit. Just remember, you can make a bigger profit someday.

That's right. If you are a trader you will make a loss, every trader makes a loss, it's never a true deal until you make one. Of course if you keep making a loss and keep losing money that means you are not a good trader, most of the time it's something that people do make profit and a loss and in the end they are at a profit when all said and done.

For example, you start with 1000 dollars, go to 1500 dollars and drop to 1200 dollars, that's still 200 dollar profit. If you are like that and if you losses like that do not care about it and keep regretting it. Learn from your mistakes and do not make the same mistakes all over again constantly, that would be a lot more helpful. I personally made a lot of mistakes in the past, I try to not dwell on it and try to learn from my mistakes and get better in the end, that's a lot better way of becoming a true trader.

Continue to experience losses and spend capital needs to be questioned, whether you have mastered trading techniques or not. If you don't buy at a cheap price and hold it, it will be better, rather than having to force to trade and always lose.

Trying to learn from past mistakes is a very good lesson so that trading skills can continue to develop. Avoiding the same mistakes must of course be made. When you are familiar with and master the technical and fundamental trading, trading will be fun and profits will continue to be obtained. luck is only a few percent, what determines how much you can read the direction of the market.

from the start you trade means that without realizing it you are already wasted with all the risks. that's what crypto trading is all about. learning from mistakes has made you better in the future. because basically someone has to experience the first loss, so realizing how difficult it is to control ambition when big profits are in front of the eye just let pass.

believe, and correct every mistake in managing your trades, do it carefully and still use the strategy if you really understand it as a whole. if you feel that the strategy is not understood well, it's better to learn it until you can simplify everything, don't be in a hurry to apply it.

I agree with almost every word you said.

Losing some money is important in trading because it helps you realize that trading is not a dream, at some point you have to wake up and the earlier, the better for you because you will learn to adjust and adapt to the loss.

As for signals, I don't know why people even care about these things because I have hardly seen a consistent crypto signals provider either paid or free and yes some might give good signals but the truth is that it is more like gambling on someone's picks.

Futures and leverage trading and just too risky and it is actually not worth for someone like me who sometime has to wait for months for a coin to recover its price. I would suggest investing more into your capital but avoid taking leverage.

OK haven't got my Mojo back but am still trading and trying
I have been watching more videos on trading and TA and trying to build a strategy. While I do understand the principles of TA putting it to work in practice is a different story
Some of this goes down to patience and waiting for an opening

I have noticed some problems and issues I have
I look for a trade and find a coin that has gone up however as soon as I invest or put on a trade long i reverses and goes down and I keep my position open in the hope it goes back up

I am aslo getting scared and closing my position too quickly at a loss before it reverses and goes up again

I need to come up with a tool or better way to see if a run up or dump is coming to and end or at the very least check for confirmation of trend.

What are the best indicators for this or signs I should watch out for. One I am noticing on candlesticks is a horse shoe forming after a run up generally indicates a dump, confirmed then by falling under the 20MA

Any other tools or tricks I should look at

Don't want to sound rude but just want to be honest to you: you are placing trades without a proper plan, system and without discipline hoping to catch the one big move which is going to bring back your losses.  Hoping instead of letting a stop loss decide isn't trading but religion.

Here is my opinion on what you should do:

1) stop trading live right now!
2) if you're thinking about trading live again: don't do it!
3) stop chasing the get-rich-quick movements!  Enter when your plan says to do so and exit when it says to do so.  No excuses!  As long as you don't know when and why to enter, you are going to catch it at the peak before it reverses and your panic will let you exit before it reverses again.
4) you don't have to trade only because the market is moving!
5) take a proper course, join a trading community, get a system, write a plan, trade your system and plan demo for at least 100 trades and journal every single trade.  Better: trade it demo until you're profitable for at least 1 month!

Here is where you can start: https://www.youtube.com/watch?v=ZbcujYcNYNo I'm live-trading Forex with Nick (Mastermind Member) since 2017 – he and his course are legit.  His approach is not limited to Forex but working very, very well in Crypto markets.  He also has a Crypto Course: https://cryptos4noobs.com/

Another possible course: https://tradingcryptocourse.com/.  His approach is reasonable and he also covers basics in risk management and psychology.


You don't need tricks!  You need the foundation first.  Especially psychology and risk/money management.

As expected where emotions is the most common enemy when you do deal with price volatility too actively, try to reverse out those things that you had done. Try to resist that panic
which causes for you to close up your position.

See  if it do give out some positive results then you should better stick with it.Its really hard to give out suggestions because this might work on us but not for you because
execution is really different on each person.We do have different views and ways on our trading.

Just  try lots of trial and error and you would eventually learn up something.

As a trader, lost is a something you are not expecting in your trade but you found it in your investment sometimes which you don't need to give up on that particular trade than to strategize in your trade. Any day you lack personal research before carry out your trade,be rest assure that you will definitely experience negative week in your investment.

Yups, better learn to find your own way to trade. If you keep going with the flow, it will make you fall asleep. It is true that following the flow or news is important, but what needs to be emphasized, from the sources that you get, it is necessary to consider again, if you have your own way of trading, these sources can be considered with that. Like analyzing charts, we also need previous data and a source of what's going on. It can help you to analyze it correctly, even if it is not completely accurate, actually if you can, you can see it through the ups and downs of the chart over time or through the candlesticks. However, you also need to compare it with the market volatility that is happening at that time. Actually, everything is already available, it remains how we can take advantage of this availability.

It doesn't hurt to try again, which is wrong when we've given up trying. While there is still the intention to study it, then keep on maintaining it. Study and understand the experience you are getting at this time. Take the good and reduce the bad. In fact there is no end, for those who want to keep trying. Hopefully in the future, it can produce good results. Good work !

I know the feeling of losing your own confidence after losing many streaks and huge deficit. The thing here is, giving up is not the solution. Also, chasing your losses isnt a good idea, too. You chase youe negative but you can chase it slowly. Meaning, you go back to your own self where your confidence was built and your strategy of winning will also return.

Find a way to inspire you, remember that you're not alone that experiencing such huge loss and everything but keeping up and continuing is a good way to become successful and to recover it all.

It's unavoidable as the market is volatile, even you think thing will happened according to how you

plan everythingm there's still possibilities that it will turned against you. You just need to focus and

stay positive, that along the way you'll see growth from your investment. Just continue to enhance

your knowledge and never to lose hope.

Better not to force it if you have lost your Mojo. Losing is part of the trading game, we need to prepare ourselfs for it, we can't be always right. But if you are not convinced of your trades right now then just take a break. There is no need to over trade, there will be new opportunities every week. Taking a break for a week or two can be very helpful, it will help to refresh our mind and we can be fully focused again. Having the right mindset and mojo is very important, we need to be optimistic.

Sorry about that man, i believe every traders have had these days when they experienced huge losses because the market decided to go the other way round , but its good that you are ready to accept the losses and dust yourself up and try again this time with experience unlike before, I don't think you should rely on this mojo thing, rather go back learn more and try again, don't rely on mojo for success change that mind set and you will be good to go.

I would say "forcing" yourself is definitely not the way, but giving up is not the way neither, there needs to be something in between. Just this month I have lost 70%+ of my money on a very bad trade, the coin crashed big time, dropped from 8k to 1.6k levels, and I could have given up during that time.

However I feel like it is actually not doing that bad, I feel like it is going to be better in the future, I am still in profit right now thanks to my bitcoin investments and I got into that coin a lot lower so I lost from my profit, my entry point total came to about 1.5k dollars so I didn't lose much money, in fact made a bit of profit, but I could have gotten out at 4x profit even more. So now I cannot quit, but I do not want to force myself into a new trade neither, which is why I am looking into some new coins and taking my time, I am going to go in, I just do not know which one, but as soon as I know, I will invest again.