Bitcoin Forum

After purchasing my first coin on binance. I had over $400 worth of Bitcoin. Been a single mother of one promising child I decided to trade my coin so as to afford to feed my family without touching the $400 I have been able to save over the years. Everything went smooth not until I decided to place a buy order. I have never traded before this happens to be my first experience and it turned against me. How do I cope with this and how do I feed my son?

I haven't spent enough time with binance app. I was trying to study the app when I came across the trading aspect of binance app and been so desperate to start earning so I can feed my son I had to take the risk. Currently I am doomed and I don't have a job to fall back to. I do I explain to my baby I have lost our hope of survival.

I wish I can upload my binance screenshot on the forum for proof currently I'm helpless and I need full assistance at this point. I am sorry if I am not supposed to post this on this forum. But I just have to device an alternate means to cover up my lapses before things get out of hands and beyond what I can afford to control. I wish I can get help or suggestions on how to go about this considering the fact I have gone hopeless

First begging is not allowed in this forum and secondly don’t be desperate in trading avoid attaching emotions to trading as it leads to a bad trading decision.
Why should you use your last savings for trading knowing fully well you have a baby to Carter for?
You should have sort for experienced trader advice before jumping into trading.

If I understand your story correctly, you just placed a buy order right then you didn't mention that you do some selling. I also doubt you will sell at a much lower price as you are on the mission to gain more.

What you have is just a paper loss. What coin did you buy? Just have patience holding it. And remember, trading shouldn't be a source of your income especially if you don't have any source of stable income.

Maybe you are too brave to start trading without learning. If you believe in social media too much that Crypto can make you rich quick it will take a process. He should have set aside funds for his basic needs. Use free money for trading, because trading is difficult, even experienced people have mistakes. If you are trading futures, it is possible that your funds will be liquidated if there is no remaining.

You don’t seem to have learned anything from all those answers you got in the second thread, and you are certainly advised not to invest all the money you have because of all the possible risks. @o_e_l_e_o warned you nicely as well as some other members. Furthermore, you cannot expect to make a profit without trading, unless it is a matter of borrowing your BTC and earning interest - but $400 cannot bring you any significant profit.



I think you sold your BTC for less than $400 and now you think something has been lost - but as long as you keep the BTC in your possession you can expect to be able to sell it at that or even higher price. So you have Bitcoin or fiat in some amount, it is impossible that you have nothing - try to better explain to us what you currently have in your Binance account.

Your situation is really difficult, I know that as a parent you do whatever it takes for the good of your child, I understand that part, but at least what investment do you have and how much have you lost? Right now the market in general has a slight correction, but it can continue to fall even more, if you are looking for financial advice you have to take into account its possibilities, what I can advise you is that you take as a preventive measure extract half of the investment so that you do not leave the baby without food, and the other 50% goes to your investment or trade, without despair.

No, you are not doomed to be in the crypto space for a while.
If at this time the value of your trading cap is not shrinking (at least up to -5%), I suggest you to withdraw it back and think of something else to manage your money with more promise of definite profits and every day. I advise you to start a small business in the real world. I am sure you will find opportunities instead of relying on trading profits that have absolutely no guarantee of success.
Your decision is wrong, obviously $400 is actually for your basic needs. Don't put your hopes on something that is uncertain, you will definitely be disappointed.

Actually what are you talking about? why you upload binance screenshots here? Are you thinking binance scamming you? If not then no need to upload those screenshots and it will not help you to bring the lose amount back.

I can feel your situation, you have to agree with this situation. Trade means sometime lose sometime profit. Take it easily and learn more about trading.

do not feel discouraged if you are destined to trade. Despair will only give you a burden.
Trading requires a strong mentality as well as good risk management and capital management.
As a beginner trader you should learn it first. trading requires free money that is not suddenly needed.

I know being a single mom is hard but pushing yourself to do things that you don't even know is very risky, and trading is one of them. Trading is not a thing that you could master overnight and expect high returns after you bought a coin to use it on Trading, it's much better if you invested that $400 on a small business and while you're doing your business, study about trading little by little until you have the right amount of knowledge to risk your money on it.

This is not going to work I guess, its like you want to gamble with your final penny to win a lottery.

You can do trading which is not too much difficult but it can't be a only source of income to feed enough for your family, just do trades while you are working to bring fortunes.

Well it is a pity that you have had ill luck on your first. Trading isn't easy for even the experience because it moves are not certain. And incase you get help from anywhere, don't trade except you have gone through some kind of training. The issue is many people wanting to rush in for a fast profit but they don't think the side of losing also. Is a pity for your lose. You will get back to life trust this to happen.


Binance is not the issue so no need thinking about screenshot except you want to take users mind away from feeling that you are trying to scam maybe, just my thinking the other way.

Trading is pretty hard especially on your case that you rely on trading for survivial. I think you should study and learn more about trading. I hope you know the risk in entering the trading scene, Knowledge, Self control, Luck and other factor is needed on acquiring a successful trade. Pressure is one of your hindrance right now since you are trading for survival. I recommend to learn the fundamentals of trading first before trading with your available funds right now to make your winning chance higher.

I am sorry to say, but the truth is you quite hard. You can't expect to feed your family from the treading within the short term. I don't know who introduced you to trading, you have to know what is trading basically. Buying a coin doesn't mean anything, it would dump or pump as well. But you have to be ready to afford a dump as well. And $400 for trading on Binance is a too small amount at all. If you don't have backup funds then it's hard to take profits from the trading. Trading shouldn't be your primary income source since you don't know either you will be a winner or a loser. Trading isn't really an easy thing, you should have enough patience for trading. Since you are thinking to feed your family from trade earnings, so patience is useless here. Please find some other job besides trading either offline or online.

You quoted the wrong user dude. :D

I though she is looking for assistance with trading but it seems she is looking for financial assistance which is not allowed since we call it as begging here. :)

You have to work on the side, besides you, have to trade in the world of crypto as your main livelihood to eat, except: you are very professional in trading/investing crypto/Bitcoin.

Hello, mom. If you are buying / selling on the Binance / crypto market and to profit from your $ 400 balance, you should learn about the crypto assets you are trading, analysis, chart scoring is important and many others, if you don't have a regular job, if you want to continue trading in the crypto world.

For that I have a little information for you below, what you need to do in trading crypto = Bitcoin.
Hopefully it can help you to buy food for your child, if you want to learn it.

1. How to Make Money in Crypto (https://bitcointalk.org/index.php?topic=2438827.220;wap2)
2. Topic: Crypto Trading Strategies for Beginners (https://bitcointalk.org/index.php?topic=4576895.0)
3. Topic: How do you manage your profits in trading? (https://bitcointalk.org/index.php?topic=5035071.0)

Is that the life savings that you've mistakenly put into the trade? you shouldn't be discouraged in life because you're still alive and there are other ways for you to feed your child.

Don't trade after that experience.

And instead of trading, you should hold if you ever have some cryptos remaining.

When someone do make out some story and some sort of asking for some support then i do really have these kind of impressions about begging but lets tell that op isnt really aiming for that one
but just focusing on how she would able to resolved this problem.Lets say he had made out some  mistake on that buy order then its not really a total loss.She might able to buy something
on expensive but doesnt mean that you had lost out everything.@OP, what coin you had bought? At least put up some more information so that people on the community wont
boggled up or not having those questions.Also, dont risk out the amount that you cant afford to lose, dont risk up life savings or some sort.

There is nothing but to move on. If you genuinely faced this issue then nothing but to move on. Life is all about failures, mistakes and regret. Yet is it must to look beyond and enjoy the show, its not going to last forever.

How did you lose it all? Binance futures or Binance Spot?

If it's Spot, then why you sold right away if the value is already losing? Sometimes, you don't need to Stop-Loss if the coin you pick always reached your buying price, just hold! You are in crypto for years so you should understand by now that hold is already part of the trading. Patience and just be calm. Should served that as a lesson. The lose now happened and no choice but to accept it. It's not the end of the day. Move on! $400 is not an amount that will change your view towards life.

This crypto trading investing and shit isn't for the people who live pay check to pay check if you ask me. Only deal with crypto (and any other investment) if you can afford to save any money. If you can save $100 every month, fine you can do whatever you want with it. If you can't, then it means you have other priorities.

Find another way to increase your monthly income before you play the crypto game. Trading can be a job too but those who make money from trading and investing are usually already rich and they can sustain themselves for many decades without working anymore.

What coin do you buy? If it is bitcoin, you can hold it

I have few advices for you. First, you have to accept the true that not your trade order can go against you. It is not too bad because waiting is one of the best way for your coin to recover back to the entry point. Second, do not invest if you can't afford to lose. Admitting that you will have a possibility to lose your money in trading. Third, knowledge is the key element making a successful trader. Learn before investing. Do not rush.

I hope that you will soon recover your budget. Bitcoin momentum is still very strong IMO so do not worry much

You've got in the wrong timing since Bitcoin prices went down. It was the risk that usually meant to happen any time that is how important it to analyze the market first and not to buy coin/s that are already in the hypes as it was more prone to dump.
Yeah, it feels bad but that is how the life of a trader. What I could suggest to you is to hold it for a while, who knows if Bitcoin will rallying back high again after this correction. If ever it won't get back high, your option is to either HOLD or SELL it at loss.

I pity OP but somehow I feel the post isn't good or necessary isn't it? Cause the topic is something like begging or what. It's not right to risk your money into something you don't even sure if there is a clear future especially if you have a child depending on the decision you are making. It's not an easy goal to achieve a good trading skill just by learning the app. It's all about the whole market and not just the platform you gonna work on.

Sorry about if the money was lost maybe you just came at a wrong time since the price now is awfully high and needed some corrections.

the world of trading can sometimes be said to be cruel without mercy. but I think the main thing in this position, is humans who are obsessed with the success of other people and want to get money quickly. therefore, first learning about crypto is needed. and for now, I think you better cut loss. because I see your psychology is not yet established, and learn first with your free money, so that psychological pressure can be suppressed

Seems you did put all your money into Binance trading. I just hope before you did that buy options, you should stop for a while and think that you dont have any backgrounds in trading.
 
 Putting $400 and all your savings in crypto exchange wasnt a good idea. Because you aim to feed your son from that money and crypto trading wasnt that easy as you think it is.
 What solution will you gonna do? Find a sideline job, restart with your left money in Binance and just hold it until bitcoin recovers.

In fact as easy as it is to do business in crypto if you don't know anything about crypto everything will start to decline. The way you start your business has the potential to be risky, so you need to set your mindset and understand the market strategies entrepreneurs need to look at their own capital before making a decision and it is not so easy to set up a small business and work on it until it is profitable. In order for a business to reach a profitable position time money focus must be fully applied if there is a risk in trading it is better to keep the risk low here.

Unfortunately, it is clear that for $ 400 you have spent a lot of effort and time in trading towards raising your son.  That makes toii believe that you are a very responsible person for motherhood.  I am not a follower of trading, I have a job with me.  the time I devoted myself to learning how to invest is right and wrong!  I hope you live again, also remember, your son will also be the most valuable asset! :'(

Remember that trading isn't for everyone and you think it wrongly into relying the future of your son and yours in trading which I'd find that you are headed to a big troubles. If you have start in trading too early when the market isn't in the bullish season. it looks like it works great and profitable. But somehow, you are entering during the hypes and it makes difficult for the price to even grow more , instead of a chance to dump and causes you to become hopeless.   

As of now everyone is in the dip and baffled by the crypto currency dump so you done nothing wrong. I would not suggest you to invest you more money into crypto at this point but for a big investor this is a great opportunity to enter. The whole thing is turned down due to legit reason of China electricity failure.

So for you, please hold whatever you have right now and don’t panic sell. Everything has proper timing and currently we should be in silent mode. No Huss and fuss in the trading if you are not experienced one.

Moreover, you can always use binance lite version which is way to easy to use.

You didn't have to go full on trading a lot of money just to learn how to trade, there are paper trading out there that can help you experience trading while not making any real losses. I can't help you regarding money since I am broke as well but my advice to you is that you shouldn't do trading if you can just hodl bitcoin.

Yeah it isn't for everyone if they are not willing to learn and just rely on signals given by experience traders but id they are eager to learn some strategies which can help on their trades for sure they will know how technical it is and know how to counter the marker if there's fast changes happening on it.

And those newbies who enter the scene right now are been burn as the marker is still at bearish state maybe they should wait more if they want to take their position since looks like we can see more dumps in next 24 hours.

having an investment is good because you have something to look forward to. but don't trade if you didn't learn it yet.

if you have to invest your $400, make sure you have something else that could make you survive and support your daily needs. a job will be a good help for you because you are raising a kid which you have more pressure to handle. you need to be a friend to your kid while you have to work as well. start by finding a job whether online or not. i would recommend online though because that will make you available to your kid every time.

Trading without knowledge is risky and you'll lose money, that's what happen to the money of OP.
You''re not doomed in trading, you just forget to study before you make trade but if you do your part analyzing the chart, then you can be good in trading. Beside, don't depend too much on trading for your daily expenses because you can't make money always in trading most of the traders are losing money almost everyday, so better to look for other source of income and before you trade again, start learning first.

this is really not clear, losing money by just placing a buy order is not clear. did the token dump or you traded futures and lost it. you need to give more clear explanation so people will know what really happened. please dont trade if you dont have enough trading knowledge. you need to learn first before you earn.

Well, there are two possibilities.
1. She came across the futures trading in binance with a very little idea on what she was doing and "longed" a certain coin that eventually made all of her funds liquidated.
2. She bought a certain coin in spot but the price went even lower and she thinks she's doomed.

I hope she's only in number 2 so she can still have a chance of getting her 400$ back when the price goes up again. Too bad, she jumped into trading with desparation but without enough basic knowledge on what she is doing. I wished someone has told her before "to invest what she only can afford to lose".

Learning is an investment and it is a vital thing to acquire before we got into the decision to start trading. But it looks like OP skip to it.
It is either she blames herself or the Binance app but it has done already. We can never get back and ask for a 2nd chance. And as OP losses such huge capital and have no other resources, I feel bad that she might not able to continue in trading.

But anyway, I also suggest her to stop doing this until she prepared enough.

Well, there's really nothing anyone can do about that. Nothing can be done to reverse what has happened. You're just like everyone else that rush into trading hoping to make a quick fortune out of it only to realise it's not as easy as it seems.
Trading isn't something one can dabble into. It takes quite a lot of learning and understanding how the market works. Only if you have the necessary knowledge needed for trading would you be able trade successfully and make profits. Until then, you'd only be trading at a loss.
Well, you've learnt your lesson even though it's the hard way. Move on and do the needful

Really, I don’t know what’s wrong with people ??? ??? did you do your research first before considering to become a trader and trading cryptocurrency? Before doing anything always make sure that you do proper research to be sure of what you’re getting yourself into. Haven’t you heard that trading is a risky business to do, or do you think it is all about making profit?

One advice I give to newbie traders is that they should never get into trading if they don’t have a good stable means of income, because you’re running the risk of losing the little you have and being left with nothing.

Seem like you are not alone, there will be many people who will fall to the same thing as yours. Even, this situation will always happen when bitcoin price touch new all time high. Yeah, take a look with the previous year or 2017 ago when bitcoin price touched $20.000 there were many new comers who didn't know bitcoin or didn't know how investing/trading work obtrude themselve to do that and eventually lossing their money.

Also, the information is true that now trading is more popular than social media. A lot of people are trying to find another income and choose trading as a way whilst trading is a hard way to be made as an income. You need at least five years to feel how trading can be said as a source income. The knowledge about trading is really complex, you need to force to learn a lot of trading strategy and practice it. So, if you serious to be a trader then you must learn a lot about trading strategy until you have your trading system that can give you profit consistent.

Trading isn't an easy way to multiply money.. It requires a lot of time and efforts in order for us to gain profits after all.. Now look what happened to you wherein after making decisions without any specific information about it. Sorry for your loss because its not refundable.. Maybe this is a kind of leason for you to prevent doing mistakes in the near future. But despite of this i suggest to keep in mind that it just part of our life, don't lose hope   

As others have put it begging is forbidden in the forum, with that out of the way you made too many mistakes and when that happens there is nothing to do but to accept them, to begin with it seems to me you bought something that you do not really understand and that is a capital sin, second you decided that you were going to become a trader and feed your child that way, there is only one problem with that more than 95% of traders lose everything they had in just a year.

Why do you think you are going to be different than them when the majority knows more about this market and trading in general than you do? We need to use our common sense otherwise this is going to keep happening to you.

You should have started trading with the amount of money you can afford to lose, personally I started trading with Binance app using $100 only just for a test so as to get use to all their features while navigating all their interfaces and learn it uses and I tried all kind of strategies for trading  trials although some losses was incurred while I also profited before settling with one strategy, in a nutshell It took me several days to understand how to trade eg spot, margin (close Margin and isolated margin) I also expect the OP to do same.

I feel bad for you actually, but why did you decided on the first place to buy coin in Binance if you are the one carrying the your family's finance in the first place.

You should probably sell that already to your local currency, OP. Market is going crazy right now.

In the first place I feel sorry about your sad experienced in doing trade here in cryptocurrency. Second, you shouldn't be desperate if you encounter lose in your trading. Third, I am pretty sure that you are not the only one who is jobless we are many actually all over the world now because of the pandemic. And don't be hopeless too because there is always hope, if there's a problem surely there is a solutions waiting for us with this thing.

Losses are just normal to traders, not all the time you wre gaining,there are times that your investment will get low as you go by trading, learning in your losses is just normal for us traders, sometimes we are frustrated about wrong coin choices and we tend to lose hope but just kwwp pushing in trading and be wise in buying alt coin pairs.

my advice is not to trade if you are not ready for the risk, you need to know, many people who lose money in crypto trading, those who think will not use the main money to trade, Tranding is not something easy, study it first and only use your pocket money so you don't regret it in case of a loss.

But sometimes it never makes sense pushing ourselves to a thing that we are not fit into coz it is just like we are throwing our money so easy. If feel disappointed and frustrated in trading the more it becomes worse and we ends losing everything we have. It is neither to choose another opportunity rather that staying to trading that seems are not meant for us. We better have a clear understanding towards ourselves and trading in order not to hurt ourselves in the end.

Let me get this straight. First, you have no idea at all about crypto and ask questions in the beginners section (which is perfectly fine). Then, you discover Binance and having no idea what you're doing you lose your money. Then all the crying about a promising baby starts.
Solution:
- don't get yourself into something you have no idea about
- Study the subject before you partake it it
- Learn your lesson and move along.

PS
- Trading != "print money" button, same with any investment

I think people really need to screw their heads on straight. It's not a legitimate way to multiply money, so easy or hard doesn't really even do it justice. It's a risk, extremely high and higher still for crypto. Most people will end up treating it like gambling, in which case you could even be better off gambling!

It is not just one person, it is i not just group of people, it is a whole bunch of people in tens of thousands that fail in trading, including me. Some people are both unlucky and do not have the patience to just day trade all day every day, it is both very hard to learn how to do that and study to become better, but also even if you are great at it, the job itself is not as cool as portrayed in Hollywood movies.

You do not just open up 5 monitors every day, all looking at different charts and make trades all day sipping coffee, that is what you look like from outside but the reality you are dealing with thousands of dollars at minimum, some do it with millions of dollars, you could be up 200k+ one day or down 200k+ that day, having the balls to sit through those and making right decisions even after those things require a lot of expertise and a lot of emotionlessness.

I'm curios what happened to your order? Did you use leverage trading? If yes then I assume you lost all your money based on your story since this kind of trading is too risky If you are not skilled enough spot trading is more advisable than leverage yeah you can gain fast and huge and you can also lose really fast just a blink of your eyes your hard earned money will be lost its just like a gamble, my advise is to search for a job for now and if you have enough funds you can go trading again but learn and practice first.   

This is a lesson for you, don't trade using all the money you have. Moreover, you do not have good trading experience and knowledge. I am sorry
for the situation you are in, especially if you are a single mother who has to feed your child. I recommend that while for the cost of meals,
can ask for help from family or neighbors. And don't make trading for your job, find a job that matches your skills in the real world. If you already
get a job with a fixed salary, you can set aside some of your money to learn and start trading again.

Many novice traders enter the market without any risk management system and without a long-term strategy. This is normal. But they are bound to lose money. This is the price for knowledge. Without good risk management and strategy, you won't last long in the market.

Alisha-k, I would like to warn you that all your messages can be easily read in the message history. By some unknown incident, I often come across your posts and forgive me, I do not see any logic at all in your actions.
On April 20, you ask questions about wallets, then completely ridiculous questions about the Binance exchange, and after two days you write about your results.
I don’t know how sincere you are, but if you decide to become a trader in two days, then you should not blame anyone for your failures. I will not write about the fact that you cannot get rich in a year in cryptocurrency, let alone the fact that without experience, the loss of your money will be obvious.
You have written many posts about how you like to read and study everything, but your rush has played a cruel joke on you from experience.
I'm sorry, but I don't feel sorry for you.

That was too honest dude, but I believe she has to hear it too. If that's really the case, the lesson here is, our will or urge should not overpower knowledge or education. In her case, she has a lot of will but not enough knowledge. We must think that our will could be our driving force to learn and be wiser in what we do.

OP should be careful next time, it's hard to lose the only money you have left. One of the golden rule in crypto is that "Invest only what you can afford to lose". It's very important that newbies have sufficient knowledge to about trading. Sometimes newbies are overconfident that they forget about risk management. Sometimes people place the wrong value in order resulting to quickly sell at a small price. That's one of the simple things but if where careless we might lose large amount of our money.

Every action and decision must be taken seriously and must have a plan (A/B). OP still new to trading and it was a crazy thing she thinks about putting huge money into a thing that she never works before or, has knowledge about it. What she after is to make her money grow faster but unfortunately, she chooses to trade and everything turns very unlucky.

I feel too much regret from her but it is done already. Too bad but that is how life evolved in trading resulted in a very disgraceful scenario when we are not fully prepared for this. It is a sad story that everyone should be aware of, otherwise, it might also happen to us.

What cryptocurreny pair were you trading and what strategy did you apply. If I got you right you have never traded before and this happened to be your first experience.

Accept what has happened and move on. If you love to trade then I suggest you get trained. Get the skill and the earning is yours.

I guess all traders do not have any other options except accepting losses and move on to next available opportunity so that we may easily recover the losses and then will try to maximize the capital. Yeah, instead of staying within losses and its frustrations, start looking for new opportunity will help any trader to find their fortune out of crypto trading.

Learning skills will be crucial. To change the profit line of trading, every trader must look into continuous learning opportunities. When are good with skills then we can easily avoid getting doomed time to time. Facing losses is not a big thing in trading but focusing on things for not facing losses will help.

If you only see profits, I think this will lead to losses because he doesn't know the real basis of trading, actually by spending capital is not a problem as long as we can process it in his portfolio even though this must be planned so that his trading becomes more organized and can be rated better.

In regret, there is definitely a risk that must be taken, remember trading can change everything, meaning it evolves from losses and vice versa, therefore whatever is already done with the scenario that has been done, I think I have to take good steps if even capital still remaining can still be managed again in the trade that has been planned.

But don't be surprised by this. Crypto people are a lot like the forex traders you'd find online like 10 years ago. They saw an ad telling them they can make x10 money easily.

They just go online asking random people random questions and have no patience so dive right in.

Whether experienced or not, no trader has had only profits.
When making a trading decision in general, give it a minute and check if you're doing it from emotion or logic.
We are human and can be emotional. We all at some point face a loss that might be hard to deal with. This can negatively drive our emotions which often leads to poor decision making.
If you ever find yourself in such a situation; sit back, and critically anlayze what went wrong. Evaluate your mistakes and learn from them instead of acting out.

The author of this topic broke many rules at once that beginners must follow. These are well-known rules and it is foolish to ignore them.

1. Trade only with those funds that will not be critical for you to lose.
2. If you have no experience, then do not trade with big money right away. Invest your time first.
3. If the trading results are not very good, then it is better to try hold.
4. Moreover, newbies hold 99% of the time.
5. Have enough fiat in your portfolio in case of averaging.
6. Don't use leverage.

It seems like you have got engaged into something that you still do not certainly know about making you get into the situation of getting hopeless because if you do knkw what you were doing, you can be up into something to manage what you have done with. Also, you seems likely to be unfamiliar with Binance app the reason why you were exploring it to get yourself knowledgeable about it. Be mindful of the things you do click even if you do not know it because it is your fault once you mess up.

So you risked your (only?) money that you had on trading and lost everything? You do know the golden rule right? Trade what you can afford to lose. You couldn't afford to lose the $400, then why did you even think about trading it? Think about it as a lesson that you have learned. You paid $400 for it.
Now there is nothing you can do. Move on. Make no such mistakes in the future. Try earning back those $400. Work a little extra till you have earned those losses back.

Yeah, that must be very basic of getting into cryptocurrency trading. We are having lots of other options to explore ourselves to get familiar among trading environment and trading strategies so we never need to risk with our original capital and real trading environment. For example, demo accounts and fake-money based trading apps are available for this exact purposes.

Losses in trading cannot be reverted back so we need to be conscious whether we are doing perfect or not; when you're not having enough confident on what we are doing then it would be better to stop right away rather than struggling later on.

You are doomed from trading and asking Help here but what is the thread you created in gambling?

are you really doomed because of trading or you have just gambled your funds?


Sorry but i don't think it is appropriate to trade and gamble at the same time because you are only risking all your chances.

Hope you can get money back. Maybe start looking for a job that can allow to bring baby is worth to do than nothing. Since you not mention sell order what i assume is you do future trading which can make us get liquidity without do anything with our orders. For others too, future trading maybe look very easy to get profit but it is only look, behind people's profit there are a lot of works and maybe even they really do hard to get profit so it can't be same for each other people.

You're not the first one to suggest about these but unfortunately people are committing their own mistake to learn their own lessons, I guess no one could do anything about that.

Making use of demo accounts for getting familiar with trading strategies and all other basics, is the first stop every trader must need to do, but I'm not seeing any of my friends as well doing that. They are all in rush to make big profits out of crypto trading because they do not want to miss currently available opportunity but usually they are ending up in losing their capital rather than catching up any new profits.

As simple as that, I understand that people may get excited when they first find out about the existence of bitcoin, in fact I know that was the case with myself as well, but our common sense needs to take over, even the quickest research about trading indicates it is an activity with less than 10% success rate, and if you are a newbie the success rate is as close as zero as it can be.

This is why the best move that a newbie can make is not to invest in X or Y coin rather the best movement is to begin to ask questions on the forum and read a few books about trading, once you do that you could be ready to invest in bitcoin and after some years have passed altcoins could be on the cards.

feelings of regret are bound to be experienced in times of such situations, but we should not linger in regret. the next action is that we have to determine the steps whether to remain in the world of trading or switch to other fields of work. regret must end

What they say is a bit harsh but has all the logic possible, many times people enter the market operating with the best desire to win, but what they do not measure is that they risk their money and the danger is that they can lose everything. Whenever this type of thing happens, the affected person must study and reflect that trading cannot be taken as a game, that trading must be taken seriously because you are risking your money, that 95% of traders lose and that if you have luck and win at the beginning at some point the luck will run out.

For this type of thing it is best to study very well each step you can take, this in a commercial decision, before carrying out any operation it is better to test the strategy by operating with fictitious money to test the plan and learn how to use the platform or exchange well to react in time in case the market goes against it.

Considering that OP is still a newbie, I think that he/she did engage in something that is completely unknown to OP. My advice to OP is to stop trading for now and try to practice and learn more about trading, you can read the basics and practice on sites that have a paper trading to experience trading without losing any money.

It looks like he is stuck at a low price, maybe he should learn more from the existing case and that can be used as a way for him to use his assets well instead of having to ask for help here.

It was a lesson to learn for her and for everyone who is planning to be in trading that we need to prepare ourselves first.
Most of the traders got overwhelmed because of seeing other traders get a huge profit in trading but they don't bother to ask them what they do. They are simply jumping into a place where it supposed it wasn't the time for them. They are in the hurry because of money but too sad that it only costs them to lose everything just like how OP ends.

@OP
I would learn proper risk management. Its a good way to start with money you could afford to loose until you move the next money in next time. Lets say you invest every month $500 then you only buy with 1/4 of it instead of all in. If it goes down your mental health will be much better and you can invest more. Dont hunt the max profits, its not worth the risk. Good luck.

Yups, I think so too, if possible, don't make trading your main source of income. Because as you are experiencing right now, if you lose all of your money, it will never come back to you. Better, if you can afford it, start taking on small jobs so that you can also look after your children too. For example, being a maid. Maybe this seems very low for an example, but considering your child is still a toddler, it will be difficult for you if you are not accompanied by your husband. Like it or not, you will have to become a solo career, to pay for all your daily needs, and send your children to school.

Therefore, my advice is not to make trading your main source of income, if you want to start again and keep in mind trading cannot be done carelessly. It may seem easy we just have to buy, sell or hold. But all jobs must be called skills. At a minimum, you have the basic skills to trade. To know how and what action you should take when faced with various situations. Maybe you have made a profit without any knowledge or skills, believe me it is just luck. Instead, you start looking for a job for which you will definitely get paid or profitable. Because in trading you really have to be ready to lose the money you are trading. Therefore, trade with capital that you are prepared to lose.

I think as a beginner we should not put big amount of money because it is very risky and we might lose it all in a blink of an eye if we commit a mistake. As a beginner, we should only put an amount that we can afford to lose. As a beginner, we should have or conduct a research on what we are doing because even though we see others earning big money from here, we do not what they've been through to earn that. I do not know what coin you're holding now but I hope it is not a shit coin or else maybe it is much better to cut your losses and try to trade some other promising coins.

Well seeing the some people fail in forex trading, it is expected that they'll go from here like it will be the same as their experience in forex trading and then just end up failing because both are different from each other or it could also be their alternative source of income just because they earned the same way in forex trading, but hell I know that when you start here in crypto trading, you'll have to start from scratch like you don't know a single thing in trading.

Trading cryptocurrency for a living is currently not for you. First you need to find a job to have a fixed income. Second develop your trading skills or system. Until you are very confident to do trading for a living.

You are right. When we are trading without commitment then we can find peace of mind which must be more important for profitable trading in crypto markets. Having another regular income stream and then trying for extras income along with in crypto trading will definitely give traders an extra edge as they will not be in need of chasing profits but they can easily grab the opportunities which are naturally happening in market.

Both new traders and experience traders should never take pressure on them because that will easily lead to emotional failures which is a known enemy for profits making in crypto trading.

Not currently, the best thing for OP is to never try to trade again! I am not sure that I understand his words correctly, he placed a buy order and that's it?! Money lost? I saw more about his son and food than about trading...

And why would anyone risk everything (in this case $400), on something you never ever tried before?! This is an insane move... and you know you need money for other things, but you decided to go all-in with 0 knowledge about what you are doing... and now the time for crying has come! I don't feel sorry for the guy, I feel sorry for the kid... his dad will make the same mistake again, most likely!

The best advice that anyone could ever give you OP is probably you should do all the research needed with the help of old master trader. Learn first before you try and try not to rely in youtube. I believe you bought a coin who slowly decrease in value and now your 400$ is in total disaster in just an instant. Another advice is don't follow those whales whose trying to manipulate the market.

That's unfortunate and I felt really bad, that is why it is never recommended to use your money in investment if you cannot afford to lose it because it is still not certain if you will get it back or make a profit from it, especially that you have just recently entered this field. But if you will insist on going to invest make sure to invest in Bitcoin or top high volume coins in the market as they are less risky than those altcoins. And if you are going to invest in altcoins make sure that you did some proper research first due to the fact that it is risky.

Hope OP's financial condition already recovered for today. But maybe OP is not alone and other people maybe will do that too. With this post other people must be concerned that trading is a risky thing especially future trading. Chance to lose all money in balance is big although maybe other people look success in it. So don't trade without analysis and only use balance that we afford to lose.

If this story is true then it is really hard to lose money as a parent and besides you have mentioned that you don't have work to turn back the money that has lost, maybe this would just be a good lesson for you, do not invest and try to trade if you can afford to lose your money, that is the number one rule that we have mind before doing trading, you know the risk for it and still you take it and that would be the consequence.

Okay, the scenario the OP painted is one simply jumping into the sea without first learning how to swim or getting in a car and trying to drive off without first learning how to drive just because one is the owner of that car. Besides the desperation to feed her baby I observed that OP is pressed for time to make profit. Wrong tactics. Stress and trading don't go well together. Again, missing the basic skill sets for trading did the OP in expectedly, (of course, it will always come to that for anyone who doesn't have the skill sets). However, how people tend to think they can hop on trading without learning the rudiments for it, at least, is what I don't get. Trading is a profession and should be treated with respect. No one calls themselves doctors or lawyers without the required training years.

In the event that you put stock in online media a lot of that Crypto can make you rich speedy it will take a cycle. He ought to have saved assets for his fundamental requirements. I'm certain you will discover openings as opposed to depending on exchanging benefits that have positively no assurance of accomplishment. Exchanging isn't a thing that you could dominate expedite and expect significant yields after you purchased a coin to utilize it on exchanging.

But people treat them as traders from the day one itself ;D. Most of the naive traders are getting deceived by fake success stories of other traders. Some brokers are intentionally doing such kind of success stories to attract new people into trading. Anyhow, it would be basic responsibility of individuals to protect their hard earned money, regardless of whatever attracting them to start risking in trading.

I agree with that number one rule of trading; risking in trading is not at all recommended when you're not having any other income stream. It means that trading should be started like a part-time one but over the course of time we may adopt it as a full-time job.

No matter the situation you go through in life, you should always remember that life goes on. It doesn't pause at any point to wait on you to correct your errors or catch up from where you left off. You can only try to add and learn along the way. That's how it works.

What is lost is lost, now, you should focus on what you can gain fron the future. You took your time and saved for this long, you can also start up another savings and earn yourself something worth the while over time. Never be discouraged, always try to learn before you dive in and ask the professionals on how they manage it. Depending on your comprehension skills, you might get to grasps what it's really all about.

He could just as well take his money to the casino and lose it. So the point here is not in trade, but in the person himself and his attitude to earnings. Usually such people come back again and to lose their money again, since they do not analyze their losses.

As long they wont make out some realizations then they would really commit mistakes all over again and again which is a very common for a person who do have that gambler like mind which doesnt really fit out on trader career.

Its just normal that we would lose up money but you should really learn  from any thing that you do encounter along the way and you should really take good grasps so that you would be aware
on next encounter or face up.

This do takes time and if you are impatient then this thing isnt really for you but rather find out another alternatives which you could seek off.

1. Right, always set a budget on how much you're willing to lose. Trading is also like gambling so set an amount that no matter what happens, win or lose, you're totally fine seeing it where it go.

2. That's a good inspiration that you're setting. The determination and your eagerness to learn about trading will make you go far and the lessons that you've learned will remain to you. So, trade only when you're okay mentally and emotionally.

3. DYOR is a continuous factor that one should do.

I hope that you're okay after your depressing story posted nearly a year ago.

What I know is that fortune is indeed God's destiny.
However, trading is not destiny, it is a choice.
And to make a choice can't be done in a hurry, even more so when deciding something in a place that you don't understand yourself and haven't learned. This will actually take a very high risk for you and your child.

I can't blame you, many people are in the same position or almost more desperate than you. But believe me, despair is not the solution.
If you have already put money into trading, live it with taking profits, don't panic sell. But keep learning, because, without learning, your money will be wasted. You might expect to quickly make a lot of money from trading. But without knowledge, it's more like gambling.

I follow you with that. It's part of the business, losing some of your investment, but if you keep repeating the same mistake, that's not normal, you need to excel and take those mistakes as good learning patterns; you have to adjust, not repeating that same failure and try to do something good for your investment. The more you see what are your lapses the more you can change your strategy.

It's not going to happen in a short span of time, but it's a continuous process that you need to adopt if you wanted to survive

inside this business, you have to find ways to establish your trading practices.

There are things you need to state clearly which are hidden from us here, ma do you say is the first time you are trading on Binance?
okay if that is your first time have you ever traded with any other trading platform if YES then i must say you are very careless. almost all trading platform or the sell and buy human interface of exchanges looks similar so it is very easily for you to detect whether the price is high or low. Binance app is the most simplest app to trade with maybe the screenshots you made mentioned would really  help alot. I know no one is above mistake when it comes to  handle exchanges but i m not fully convinced about Binance app.

Trading does require good knowledge and also skills in order to make a profit. besides that, we also have to be patient in waiting for the crypto market to go up and down, don't be in a hurry because it will make our minds chaotic and also panic. Most people fail at trading because they panic about the crypto market that is going up and down and end up selling it at a low price. Besides that, I think trading cannot be used as the main job, especially for people who are not really good at it, so it would be better if we don't rely too much on trading before we can do it well and upgrade our skills.

There are people who do easily just give up whenever they do experience loss or unfortunate events which is totally normal and as long they dont have the passion and determination on dealing with trading
then they could simply make out decisions something like this and make out conclusions that trading isnt really for them talking just on short time period but they should really make realizations that this isnt
something that you could really get on short term basis in terms of learning and getting experience from it. Mistakes and losses are inevitable and you should bare that in mind but doesnt
mean that we would lost all the time and this is where learning do comes in from those past mistakes.

Indeed. Its unfortunate that she face losses but its not a reason to give up easily especially she has a child to feed. This is the reason why its hard to rely on trading/investing on crypto and thats where you'll going to get your budget for your daily needs because not all the time the situation will go as planned. Its best to have a real job while you trade as your sideline to get additional income.

Anyway, there's always a solution for every problem so op should not give up whatever path she want to take (either to continue trading or she has something else in mind). Dont be discourage and move forward.

When it comes to trading, it is important to educate yourself first. Do the necessary research and analyze before making any decisions. Trading with all your saving is just a foolish idea.Start with something that you can afford to lose. Make sure you do not invest more money that you need to, otherwise you could end up with a serious loss that could affect your future plan.
Temporary losses during a trade are natural outcome to manage.Nobody can avoid losses,but how you handle losses makes all difference.

What has done is done.We made mistakes but we have to learn from it.No matter how hard it might seem to you right now, there is a purpose for it.There is a better opportunity waiting for you. Just be patient and dont lose hope :) Life goes on.

Investing is not a short term game. This is really something you should always keep in mind. Secondly, DO NOT PANIC. AND DO NOT SELL. In fact, it would definitely be best to not make any actions based on emotions. Bitcoin goes up and down up and down. Just because you got in when it was going up but went down, does not mean you lost your money. But it does mean that you must stay patient.

But it is also wise not to put any money into Bitcoin which you really really need short term.

Edit:

Tip if you need money: a lot of people are looking for someone to do simple jobs on this forum. Like signature campaigns or social media managing. You can also translate and much more... Making an extra $400 a month is no problem.

You are too brave to trade without enough knowledge. Trading is not an easy money making machine. It needs knowledge, patience and strategies. It is always reminded here that invest only the amount that you can afford to lose because trading or other kinds of investment involves risk. Trading is profitable if you have knowledge about it and of course choose the best coin to trade. In my country $400 is huge amount already, enough to use as capital in trading.

Theres no such thing as fast money when it comes to trading. You gotta put a lot of hardwork,patience and knowledge in order for you to achieve your goal. .Some people think it is quick easy money. But the truth is,thats not just the way how it works. Thats why you get frustrated,and realize that its not quick and easy as what you think.Trading is not a job, it is a business. And when it comes to business, there is always a risk behind it.
Anyway,its already done. Lets just think that is a part of your experience. You just need to accept the truth ,that you made a mistake. And you have to learn from your mistakes. :)

Everything happens for a reason.

It really depends on how you see the mistake, if it's a learning experience for you then it should help you improve, and who knows you'll be successful in the future. Not every trader had overnight success, most of them build their success over a period of time, and they achieved it because they don't give up easily.

That’s really terrible to read. I’m not sure at what point you started the trading and what was your skill pursuance at the time; but I’m sure gaming is something one should not really believe at first glance. Remember that whenever it is money related matter you should think hundred times before investing. I mean if you are salaried person then that’s the first priority. I understand that being on fixed income we always tend to go ahead and make another income sources for ourselves but we have to be very careful how we spend it.

There is nothing about Binance here frankly. It’s all about how much you know trading and limits of your trade too.

I can understand your feeling. I will not criticize as other members have done. First please provide details correctly which coin you have bought and now how many $ have remained in your account. If the coin has the potential to increase we will suggest you hold if it is not so good and you have no any other source of income then you must withdraw that money and avoid trading with that money.
Find a good job.
Work in bounties, join big airdrops(These will not give you stable income but they will be little helpful for you.)

Doesnt really need to be that in detail because you could already picture out on how it would really be looks like or in say with general on which people would tend out to quit when they do experience unfortunate events
which it isnt surprising.

We do quit when we are really experiencing those problems without even thinking that we should really study and learn from those mistakes.You do make out easy conclusions behind.
Lets really realize that this market isnt something simple that you could deal with.

Trading is good if you think you are consistent in making profits, but if you sacrifice your savings hoping to make the most in trading, that is a very big risk. Plus you have your child with you, so its better to find a stable job that will help you sustain your needs especially the future of your child. You may participate in signature campaigns for now to give you an income but you cannot rely from it for a lifetime. Trading is good as long as you do it as a side income.

That's so true.

When the starters get in, they're impatient enough to sell those coins that they hold. As the market pumps, they're all happy and waiting to see more of the pump.

But when it starts to dump, that's not making them comfortable and they're all ending up selling even they don't want to because they're being triggered emotionally. It happened to me many times before.

I totally agree with above mentioned point of view. It is better not to follow collective trends on market because it might cause wrong decisions. Never forget about volatility and cyclicity of the market. And I think it is good idea to trade with 10% of your income not to lose everything and leave your children in hunger. By the way I got such understanding that only few percent of traders (whales) earn trading in crypto industry. It is essential. But everybody should be aware of risks

This is most common to all newbies as they have less experiences in trading that made them trade with emotions rather than controlling it. And as expected, traders with less experiences are doomed to fail in trading. With OP, never focused in trading as your main source of income. Its always risky to rely much in trading especially if you are still not inclined to it. You can trade but as your side income. You have to look for a day job that will help you to survive along with your child, and the income is consistent and fixed.

Quitting is not really the best solution though, but if you think you have made frequent losses in trading, then its better to quit and accept the fact that trading will not suit you. But for OP, i understand the feeling that you are already obsessed to make profits but trading won't help you and give you profits instantly. Trading demands hardwork, knowledge and skills so you will be good in it, and it will take time before you can attain that. I suggest to look for a good job that will give you a stable source of income. The future of your child is at stake so you should do more good in decision making.

It's better to have that amount or percentage of your income to use in trading is the one that you really afford to lose.

We always have to remember that trading isn't stable in terms of results. We may win big today but tomorrow is going to be the worst day ever in our trading career.

You just have to be moderate and don't be too assertive.

In the first place, you just need to know already the possible risk of the trading, I guess you come on the peak of the market and bought with the wrong position the market is volatile so if you think the knowledge you have are still lacking to commit a trade better to hold your assets.  Again don't invest what you afford to lose not all the ads saying that you can earn double up in crypto is legit its all about your knowledge and current capital to start.

Yeah, that is 100% true. Unfortunately many people I have talked to that quit crypto world all kept calling it a scam to steal your money. That shows how they do not even understand the market. I mean sure if you wagered on a shitcoin and then got rug pulled then I would understand but these people called it after bitcoin went down.

So, it is clear that there are too many people who do not understand much about crypto and assume the worst. We need to educate people a lot more to stick around and learn more before they quit, even if they do not keep on investing.

This is the reason why you need to be fully prepared before entering the trading market, be it spiritually, physically, and mentally. And of course, your capital should always be considered as you only have to trade on the amount you can afford to lose. I guess OP, you are literally trying to be rush in making profits when in fact, you still have no experience at all. So expect that you will make faults along the way, but that won't be enough reason to stop learning from trading, just take a break while trying to improve all what you have learned from trading.

yeah, if we can't afford to risk more in trading and are not really confident of ourselves due to lack of knowledge and skills, we'd better decide to hold. It was not cowardice to call, we just make sure that we don't fall into the wrong place like trading as this was a place for everyone. We dare to accept that every single mistake we take in trading will certainly give us losses and I think we don't want it. That is why we have to consider our capabilities first than to say sorry.

It is very clear 2 days is a very fatal decision to decide something and hope to immediately get a profit. That's a big mistake!
If I look at Alisha-k's post, which uses $400 where the money is intended for daily needs, it is also very risky.
First of all, if you hope to become a trader, never use money whose purpose is to meet daily needs.
I suspect, did Alisha-k read and understand the basics, or was she tempted by the results of other people who successfully traded on Binance and decided to put $400?
The best solution in my opinion is to withdraw or continue the trade, where I also can't guarantee the money will come back and make a profit. The world of trading is very cruel and requires a lot of knowledge and high focus.

You can see if you can keep the keep to space for a while. If you have your advice, if the quality of your training camp is not good at this time, then with a certain level of commitment and some other way to manage your money every day.  The reason I am thinking of doing this is because if you do any business in real life, you will be able to do well from there.

There are stories that actually tells that they have made a lot of profit in trading. There's sort of bias on it because it had happened to them and not because they've made it, everyone can make it, just no.

In OPs case, admitting that he's doomed in trading is a sign of acceptance and that's good to have that attitude. It's a sign of being patient and willing to learn. Well anyway, he had probably recover from this and made a better decision.

Acceptance is the key because if you dont welcome any losses or mistakes then you wouldnt really progress as a trader and minding off that losses are inevitable thing to experience which simply means that

in order for you to make yourself better is that you should learn from those mistakes and improve the ways of your own trading.Majority might ending up on getting wrecked but it doesnt mean that

it would really be over.Decisions on quitting or stopping would be personal but dont make out conclusions in just few fail attempts or engagement.

Whether we like it or not, mistakes can't be avoided even though we are too careful of our doings. That I believe it was a part of our life as sometimes we become distracted and can't focus especially when making a decision. But we don't let this thing become a reason why we stopped but instead, make this a reason to work hard and be even more careful. For me, a consider this as a blessing in disguise where I have to push myself to learn more and make more searches than being enough to what I have today. And I believe that there is no forever darkness  in our life which means that we can still see light someday.

Wait what? You lose your $400 from trading or what  ???

Let something like this become our experience and always use your money that you can afford to lose so when something like this occurs you won't be depressed so much. It's better to start at a little first and learn how it works. Many people at first will feel hopeless because they just lose their money but it will fade away and become your experience in trading for the next trade.  

Losing is part of trading but in your case OP, you should have not traded in the first place when you don't have enough experiences in trading yet, because you will really expect losses than gains. Aside that, you should never take risk the money you only have because once its lose, its already lose. And you and your son will experience the consequence of your actions. If i were you, do not rely in trading, instead, go and look for a stable job that can sustain your child. Trading is for everyone, but not everyone can be able to sustain profits in trading.

True, it's better to use a little money first to learn self-control. However, if you are forced to use a large money, be brave enough to determine how many dollars you want to lose (cut loss).

Then, don't get forced, otherwise. It was best to start at a small amount for we are just in the learning process and the time that we are fully ready for a huge trade and capable enough, then that was the time to spend more. Trading is not a race that we need to be in a hurry, we should think that every mistake would lead to losses and we can't bring the time back. If we are wanted to be sure that we can make more profit instead of losses, we need to ready ourselves first.

The problem here is that whenever you do make big profits out of those small investment or capital of yours then you would really be minding that making money is easy
and thats the time you do set out your orderbooks a little bit bigger or the worst you do really go all in with a particular trading entry which neither might result into huge loss
or big profits depending on the market condition or simply in talks on becoming a gambler like mind which you do become greedy.

To some extent, I don't see your situation as doomed as you still gain at first but you allowed your quest for more profits to beclouded your sense of judgment and you went all in for the wring trading pair I will advise you always use small amount whenever you want to trade in an uncertain asset that way you can easily manage yours loses.

I'm sorry about your lost but you should have use your common sense, well welcome to the market, I believe you have learnt your lesson.

No pain no gain
Experience is the best teacher

Sadly, some people are driven by greed and we all do at some point of our trading life. But we can always learn our lessons here. The OP should not give up in this market, one mistake will not define you as a trader. It will only give you reason to learn from your mistakes and come back strong. Many of us need to experience loss, before we wake to the reality of trading. Also, I am hoping that the OP is not just wanting some sympathy so people can donate to her.

Anyone should realize that without a bad experience in trading, we won't be able to improve our skills. Take all those losses and painful experiences as our reference not to have the same mistake. It's a common and usual experience and we are not alone. I don't remember anyone who don't experience bad trades as it's impossible to happen.

Even the most knowledgeable traders in the world still experience losing. There's no 100% perfect trade. Newbies should think of that. The goal is to minimize losing and not to avoid losing at most of the cases.

In investing, you don't put in more than you can bear when you loose. As parents you must ensure that you don't invest your savings that is meant to provide for your family. Losses are part of business and somethings inevitable, hence we must learn to invest only a part of our savings.

this is a very sad story, you should first do an experiment so that when you go to trade with real money you will have an idea that you are prepared to trade and how everything works you should not trade with real money if the person is not ready to do so trade.

advice to cover your loss would be if you could look for a business in the real world and make a profit. this would be the best and safest option for you right now

This is a touching story many investors will need to read and listen not to fall victim to such scam trading in the community. I know your story is a reality but nothing we can do to help you arebecause it happened for other traders to learn a lesson not to invest their money to such fake investment. Don't allow the challenges to defeat you in crypto trading because many professional traders has experience such doomed in their trading system that later make them to become a successful profit making in their business.

Lean how to carry out your personal research before investing your money on a particular project not to experience losses in the future.

The fact that she said she doesn’t have any job or a source of income, but still went on to trade cryptocurrency with all her savings is what surprised me here. How can someone choose to trade cryptocurrency when they don’t have a source of income and also knowing fully well that cryptocurrency trading is a lot risky ??? ?

There would have been a lot other things to do with that money than choosing to take risk in this volatile cryptocurrency market. People tend to think that cryptocurrency can make them quick money, but this is not true. They really need to understand that this is a risky business, you can lose your money in it. Before trading, you have to learn a lot about the market starting from the basics.

Trading didn't mean that if someone didn't have money for his family and he/she didn't have money for his daily uses and he want to earn through trading, that might be a bad thinking for a person who wants to start trading and investing if he didn't have a strong support even, this is just my opinion. Firstly a man should be stable then he should start trading. This will certainly make a person to trade with free mind and tension free.

Making it as a last resort of your funds and hoping that you could able to sustain or maintain on making profits?If yes, then this thing isnt for you because you would surely be hurrying up on

making yourself on doing trades which it might result into desperate moves which isnt really that appealing or recommendable when doing trades.You would really likely to experience losses

rather than on earning.Losses is inevitable and couldnt really be avoided but what matters here is that on how you do survive.

It's saddening when there are people that still can't control themselves upon investing and coming to the point of investing including their life savings.

That's an uncontrollable thing for those folks and they're new to it.

In trading, it's a gamble that you need to play with numbers and emotions. You just don't spin the roulette and wait for the result. It needs critical thinking and analysis which needs to exert more effort.

Trading comes with a lot of risks, so instead of using your last money or borrowing to trade with is not a good idea that is why one is always advised to trade with spare money in other not to slide into depression when your trade goes wrong.

It's quite unfortunate that these mistakes always happen to newbie traders because lack control and adequate knowledge in trading.

True! But sad to say most people are really blind when it comes trading, i mean despite of losses they just keep following their emotions because of greediness not knowing that if they continue the same way they can always burn their money afterwards.

They don't even think to take paper trading first to ensure when they trading live all situation will be fine
instead they preferred to take all the risk.

The problem here is the cockiness, newbies tend to spend more than what they should because they think in the measly wins that they've got, they suddenly think that they can take over the world and then they suffer losses which could have had a least negative effect if it wasn't for their cockiness and then they go in a downward spiral at this point.

It is not just one person, it is i not just group of people, it is a whole bunch of people in tens of thousands that fail in trading, including me. Some people are both unlucky and do not have the patience to just day trade all day every day, it is both very hard to learn how to do that and study to become better, but also even if you are great at it, the job itself is not as cool as portrayed in Hollywood movies.

You do not just open up 5 monitors every day, all looking at different charts and make trades all day sipping coffee, that is what you look like from outside but the reality you are dealing with thousands of dollars at minimum, some do it with millions of dollars, you could be up 200k+ one day or down 200k+ that day, having the balls to sit through those and making right decisions even after those things require a lot of expertise and a lot of emotionlessness.

Agree like overconfident that thinking that without knowledge they can dominate trading or just earn a single penny but the truth is just hitting that button it could ruin your life and lose all of the money so that is why before hitting that button you should read and learn something before diving into trading but all of us will be going thru that weather you have knowledge or not but with knowledge you can lessen the risk and able to start earning a penny.

Although I can’t tell if what you’re saying is the truth or not, but I do understand how a situation like this can be. But you made a mistake by venturing into what you don’t know. When you knew that you don’t have any trading skills or experience on how it works, you should have attempted the risk of using all your savings to trade when you know fully well that you have no clue at all on how trading works. What you did was just a gamble.

There isn’t any way that you can get that kind of money back, once you lose money in trading, it is gone for good and there is no getting it back.

Most of the time you would only learnt up on things when you do experience unfortunate events but before that you do really have that kind of behavior on which you do really believe on that you could able to handle up trading well or something that is easy and on the time you had experience it for yourself then you would really able to realize that you are dealing with something which is hard to be controlled nor able to guess on what would be your next move and this is the  reality that you would mainly realize for yourself.Lots of mistakes would be experienced but it wouldnt be that just right
that you would quit up directly.

I agree that we are only able to support and give some advice to those who got stuck in trading. Make that event become our experience and don't let the same thing happen again if we want to increase our skills and prevent something like that from happening again we should study and get a friend who can advise us. Although we have already learned a lot about how to analyse accurately we keep making some mistakes in trading.

Just a friendly advice, do not start a game if you think you are not capable to sustain it. Start learning first, and when you think you are ready enough, then that's the time for you to experience the real trading. But don't expect for immediate profits as novice traders are mostly associated with losses at first. However, for a breadwinner like you, trading should not be your main source of income. Look for a stable job instead that can sustain your needs, and maybe trading could only be your second source of income as there's no certainties when will you make profits from it.

No one knows unless they do try and we know that newbie mistakes is really very common but this is where we do learnt up which would be a very common path to take by everyone
because no one starts on being a pro.Sometimes we do just easily give up when we do lost money but if we do realize those mistakes then we would come back but with a better realization
which you would definitely apply it on your future trades.

@op, it's been a long time you made this thread and I know you must have moved on, and seeing that you are now wearing 1xbit signature shows that you later found another means of livelihood, (though incase you don't know, 1xbit is a known scam casino on this forum and I believe the negative trust you received are based on you promoting them), that aside cus that's no the reason I decided to reply you.

If probably you still visit here, then I did like to let you know you didnt say what actually happened which lead to the loss of your fund I believe, stating this would have helped many of us here, most especially the newbies, to learn and avoid making the same mistake(s) any day they find themselves trading in binance or any other crypto exchange, this would have been the first part of your post, before going ahead to ask for whatever kind of assistance you want to ask, even though asking for assistance in this manner isn't permitted on this forum.

OP has not been very clear why she had lose that time. But one thing is certain, she started trading even if she has no experience with it which is very wrong. She should not expect to gain profits if she is not sure what she is doing, that leads why she lose her money. For all newbies, i guess we should not just jump to trading if we don't have the knowledge and skills on it. Trading is very risky, one wrong move can lead losing all your capital. So maybe by now, you have learned a lesson from you first trade and i guess you're doing great already in what made you busy right now.

 Trading when you have zero knowledge is still sort of understandable. If you are not expecting returns all that much, and trading with very small amount then it could be understandable. You have to start somewhere and this could be the way in. However, that should be like %2 of your whole money, and if we are talking about like under 500 dollars then you should not even start and just try to get more money. After you reach above 500, you should deposit that and do like 10 bucks trading each time. That way you could lose a bit, or earn a bit and it wouldn't really matter, won't be too much. But you would at least learn what to do and what not to do.

Feeling very sad to hear. Why new user not follow The basic rule of Crypto investment "" Don't invest more than what you can afford to lose"" and "" Always invest extra miney on crypto"
Crypto is high risky and if you used Spot trading you have never losed until you sell.

Here sadly some people are driven by people.  And we all do that at some point in our business life but we can learn our lesson here all the time. This market should not be abandoned. This mistake will build you up as a trader.  Many of us will have to face losses before we wake up to the management of the training. I also hope that not only do we want empathy so that people can donate to them and if they work in this way they are expected to have a lot of success.

Yeah Al that sounds pretty crap to me, Looks like BT aint for me either, Looks like BT aint for me either, Looks like BT aint for me either, Looks like BT aint for me either  Nor are most of them to build their success in a timely manner and they have achieved one because they did not give up easily and they can be assumed to have succeeded since they caught Al.

Well even though the story may be hard to believe we can't deny the fact that we have some lessons to learn from the whole situation, trading requires skills, and for anyone to be able to trade perfectly we need to have build trading skills within some time. You may face some losses at the early stage but then we must persist and learn along the way, once you can master the trading skills and haven't practiced it for some with steady profits after then you can start trading with a huge and last fund such as $400 you mentioned.

From my experience best and fastest way to learn is playing with real money but with small amount. You remember better when you lose your own money.

As long as your order remain open on BTC then there's tendency you'll still get your money back, you just got to wait a little longer. At least, yours is still better than someone who converted his 800$ worth of bitcoin for a mere NFT gaming that's now no where to be found.

It so touching hearing this from a mom, I know u got desperated because you need to care for your son, but still you can't invest all you have in crypto, you should know there are no guarantees when it comes to crypto. I have been in same situation when I need to pay for my school fees back in my school days, so never invest the money u can't afford to lose into crypto.

Everyone has ups and downs, the main thing is not to get upset, and it's better not to risk trading with the last money next time, most often it doesn't end well. It's hard to be a trader, or rather a successful trader, you need nerves of steel and experience.

Dont rely with luck but rather mind on working hard and learn from the mistakes that you had committed or experience because these things would be your learning steps or stones for you to make yourself more better.

Being a trader is hard and the main mistake of most people is that they do rush up on making money or profits without even minding about sustainability or survivality on the market which should be your main
target or aim on achieving that.Yes, we do have ups and downs but you should not completely nor easily get stopped because of some mistakes.Nothing is perfect but as long you do able to get some
experience then you would able to handle it out later on.

That is the consequence when you trade without prior knowledge and experience about trading, you will end up totally in loss. Sad to say, but you can't regain your money back the moment you take the risk from trading.

I understand that you only want the best for your child, but trading can't give it to you if you always trade without skills and expertise. Getting a stable job is the best thing that you can do, because it can give you fixed amount of income regularly. Trading can be your second source of income, only if you know how to deal with it properly.

The price movements doesn't bother me. I do both trading as well as staking. Large prices swings are good for trading and as for staking ,drop in price means more coins for less money. My outlooks is still few years out, hopefully by then the price will have moved to new highs. My only real concern is with all the new coins that are coming into the market at a alarming rare.

Sorry to hear about your loss in your trading journey this is a process all traders go through! Btw I suggest you give yourself time to try out demo accounts to give you the whole idea of how trading works, which should have allowed you to practice and perfect your skills...but my advice don't give up as practice makes perfect, and btw trade using funds you can afford to lose as you won't always win your trades.

Profits and losses two very common phenomena in cryptocurrencies trading... But sometimes it would be happened with huge sorrows and in miserable conditions. More than 6month  ago I doomed 16000 dollars buying and holding beyond protocol (BP) token .

When taking trading for a source of income, you ought to be very professional about it. Sincerely, I almost go socked up in youremotional story but the details are rather cranky so, I'm going to pass.

Though, I feel you should know this. Trading is no easy task as you might have experienced should your story be true. When you don't know or inst familiar with a thing, the least that is expected before you go in fully is to study all about it and even get to ask professionals how they go about getting it right. Luckily, we've got demo right about any form of trading and on many platforms for practice. You should do more of that before going live.

I don't know but, you've got to find your fit and know that, your lose isn't the end of life. There are more sunny days ahead of you. Start anew.

if we are confident in the world of trading, then we should be able to respond more to what must be done to become a pro trader. psychological, analysis, money management all must be taken into account. There are many events that we can take lessons from, sometimes we feel sorry because we didn't buy before and now pump, or other feelings. what is clear is that it should not interfere with our focus on the future, therefore it is necessary to believe in yourself

loss moment better than loss our money in market, dont ever trapped in fomo or hype so our position will be on lowest risk. this is mind game  , entering market really need patience, alot good opportunity wil missed but dont be regret another opportunity will coming.

For this I agree with you because when we lose the moment we can wait for it another time,
the moment will always come so it is important to be patient to wait for it,
Having knowledge, skills and also self-control is important before entering the market

Knowing how to manage capital is really important. Some people are fond of letting their greed blind them from making the right decisions in the market, maybe because of what they have heard from the news, about traders who have made lots of money from the market, and they forget that it never works that way for everyone.

It’s a process and is not something that you will have to rush, you just have to take it slowly and keep learning and also manage your capital in the right way, knowing fully well that the market is a volatile one. With time you’re going to start earning bigger in the market.

I have come to understand that patience drives the market. And patience is one thing that every trader learns either the easy way or the hard way. The are always opportunities in the market other than rushing on a trade that isn't clear enough patience can help avoid the disaster that will come with it. Having patience will bring a clearer picture of a good investment to pick from other than falling for hypes

Emotions controlling people and how they make a profit is a big deal, you do not have to let your emotions control your trading but unfortunately too many people let that happen. Which is why I believe that we have so many people doing so badly these days. In the end, we should be focusing on what we can do, sometimes we can do great, sometimes we do horribly, only because we let our emotions take the charge.

What we should do instead is remove all the emotion from trading, but if we are feeling like we may let emotions back in at any time, just stop, stop trading all together and get rid of those emotions first and come back to trading after that.

Apart from trading do you have any other job that you’re doing, or you’re just a full-time trader? And did you lose all the money you had in the Binance app? I don’t really see the possibility of losing everything or maybe you’re not explaining something?

If you really that you lost all the $400 then there is really no suggestion that anyone would give that will be enough to solve this kind of problem. And it is also not advisable to be a full-time trader since it is a very risky thing to do. You need to have a stable business or job that you’re into and not just relying on trading when you don’t know anything about it.

Emotional aspect is the biggest or the main enemy of yours when you do deal with trading or simply been fighting against off volatility. Mistakes or errors are really just normal which cant really be avoided but the
important thing is that you do able to handle out yourself into these kind of times and end up to be profitable in the end of the day.Yes, it might not be easy but its not impossible
Doomed is the word of someone who do find out on continuous losses on doing trades but doesn't mean or a shallow reason for you to stop completely.

Better to stop wholly when you don't feel it anymore.

The bad thing is that our emotions when we catch all the hype and we think that it's not going to be up anymore. So then our emotion is going to feed us of what we must do in a hurry.

And if we're in a hurry, that's the time that we don't know what we're doing anymore and it's very important to remember that we will definitely make mistakes when we're in that form.

I think the same and I think that it is not the time to feel ashamed to lose in trading, that is what happens and they are what we call "gages of the trade", when I was learning what cost me the most was to take a little patience, but with the reading of books I learned that always for everything the best thing is to continue learning, at this time I do not understand what can happen in the BTC market, that is why it is good to even read some articles to know what other people think, or at least those who write the articles, however this can open my mind a bit to try to understand things that I had not even imagined before.