Bitcoin Forum

hello community members, am new in trading and run into problems recently with trading where i almost lost all my funds. i started trading with a single token i have made x2 profits within a week when i decided to trade another coin which from my analysis the coin have great potential because of it price at that time and that was the beginning of my lost.
what went wrong and what strategy will you advice i adopt that will help me in my future trading that will give good profits and minimize lost.
your views are appreciated.

Learn to use some indicators bro because it can help you to avoid losses. I mean not just one indicator because there's a lot of indicators to use when trading and they're very useful to be honest . By the way if yo want to learn i highly recommended  "DATA TRADER"  (https://youtube.com/channel/UCwIsRM8qBXobpAnzVJ0c4IQ) which is a youtuber because for me he's very professional and his videos are very informative and so easy to understand as well.

Ps. Don't forget to learn how to use stop loss because its the most important to prevent massive losses.  ;)

If you have profited to that single token you mentioned where you profited x2 then why trade another coin, you just have to sick there and make it x10 or more. 
If you have the strategy which keeps you wining a trade, there is no reason for you to move to some other coin, you will just be exposed to riskier tokens. And that is probably what went wrong.

I would like to hear from you specifics about which coin you traded and which coin you chose for your new investment. Otherwise, we can only guess at the reasons for your failure in trading. The most common reason for receiving a loss is the fact that you bought a coin at a high price and after the correction, its price decreased several times.

Most probably you've been in the wrong analytics which made you fail in the first place. Please share us here you projections so we could teach you what point you did a mistakes. If we're just talking here about your frustrations, there's nothing we can fix around but only your missery. Hopefully you'll add another details about your trading history or whatsoever can support your topic.

It's possible that what works for me won't work for you. It's is up to you to try various techniques based on your risk appetite and work schedule. You should also think about how important it is to have proper bankroll management to avoid blowing up your account in a single trade.

Determine your leverage, the percentage of your total bankroll you're willing to risk per trade, and your stop loss, among other things. Risking a large portion of your entire bankroll while still in the early stages of your trading career is a definite way to lose money. A 1-3 dollar deal would be a good way to test your trading accuracy while also establishing confidence in the market.

Furthermore, whether your past trades were profitable or not, re-evaluate them. This will allow you to determine which part is inaccurate, and tell if you have followed your trading plan religiously.

You can also watch COTTONCANDY TA's trading courses to give you an idea how trading works under the hood. I've been following him for over a year now and I still practice what I have learned on his videos for free.
[1] https://www.youtube.com/c/c0tt0nc4ndyTA/featured

Apart from adopting the use of stoploss that many traders avoid to use because they don't want to lose a penny (but losing is part of the business), I try to keep to what works for me. If you try using stoploss on the new coin you are coming of and you are not comfortable with that, then you forget it and move to a coin that works with your strategy for profit taking. Avoid taking unnecessary risk that don't work.

Losing funds is a part of trading. Doesn't necessarily have to be much panic. You can't win always in trading and you should accept it as a normal trading behavior. I admit at the beginning most newbies losing portfolios due to lack of knowledge and you have to spend more time to learn more. Pumping price sometimes doesn't mean this coin is a potential coin. You have to research more before choosing a coin for trading. First of all, you have to choose a few coins and add in your favorite. Perhaps you may select ten pairs this way. Then trade from there in real-time. You have to decide what is the suitable time for trading. Just keep watch coins from your favorite list with patience. And enter in trade when necessary and exit as well when you have profit.

You nailed it and this was the truth, even though experts in trading will experience losing funds because there's no infinite passive income in trading, there's sometimes a failure.

It's a coincidence I think, token will also give profit especially if it is newly launched on a good exchange platform.  And when it's hyped and very trending in most communities, it will surely be pumped and have a chance to earn folded in how many times in profit but when later on, it will fade and becomes shitcoins/tokens.  In short, knowing them and have further research you might ride the trend, but remember this is very risky in holding for the long term, you might earn in just a short time trading when it's on the hype.

Improve your fundamental and technical analysis, these are the only way how to lessen your losses in trading.

thank you all for you suggestions and comments i really appreciated and still looking forward to more reply and advice's, to give more clarification about the token i started trading with hybrix coin and took good advantage of the volatility of the token early market and went on to trade on Basic attention token (Bat) before losing.

How did you get x2 profits? From gamble and luck or is it from your careful investment or trading? If the answer is gambling and depending on luck, the ending is reasonable.

Even if you made your first successful trade from careful decisions, if you can not control your emotion, you will make wrong decisions after that.

It's always like this. A great success is the beginning of a great failure. When you win big, you should stop and stay outside the market for a few weeks.

• Win big, should stop
• Win big in streak (a few continuous big wins), must stop
• Lose big, should stop
• Lose big in streak (a few continuous big loses), must stop

For day trading, I prefer to trade on coins that have large caps. to trade on new coins is indeed very difficult to predict, because it seems that there is no need for people like whales to be able to move the market. therefore you can trade on bitcoin mainly, unless you are a person who likes speculation, as you are doing now

Trading is a game of wins and losses. Every trader losses some trades at some points. The goal is to keep the win rate at least higher than 50% plus a good risk management strategy. Always gave your stop losses on, no matter how obvious the trend of the coin seems to be.

Lastly, don't give up. Keep learning new things such as indicators, strategies and trading techniques. Your persistence will finally pay off at one point.

Once you've made some profits you should keep at least half of your assets in Bitcoin & Ethereum, that way you never lose. The other 50% is for riskier assets which you might get lucky on. If you're new with trading then don't go lower than the top 50 assets or you will end up seeing red and going red  >:(

I think if you've been profitable with your current trade, stay where you are and keep doing the method that you've been used to. And when you have seen that you're starting to incur losses with that strategy, it's time that you have to test your method into other pairs. But what you did is the opposite, despite you being profitable with that trade, you have already jumped into another pair and that made you into a loss. How about going back to that profitable trade that you've done before?

Crypto is unpredictable even me made some mistake buying coins/token that I know it has some potential but in the end, I lost but I can minimize the lost by using the stop-limit.

What you need to do is learn how to use stop-limit to avoid losing much while holding them.

I would suggest you check this awesome link below to learn more about trading from basic to technical analysis including free and paid tools.

- https://github.com/SpiralDevelopment/Awesome-Crypto-Trading

You've barely stated your case properly and your here asking what went wrong @OP. For all we know or I know, you lost on a trade and its normal for everybody. Especially for a beginner trader to lose more often and in some rear cases, make profits.
I don't mean to discourage you but, if your yet to blow your account or should I say, have all your funds wiped out by the market, you haven't even started trading! Your yet to experience the bitter aspect of it all. Its in that, that you get the most experience, you feel the desire to always have a solid ground about your position on the market and also how to guide against unexpected events.

For you to know hiya really went wrong in your trading, you have to explain more and maybe on your own, try retracing your steps through your analysis, events of the time and your approach to the market.

At least tell us what you did, you can't exactly expect us to know what's wrong without knowing what you actually did right? And ngl tbh, losing is PERFECTLY normal in trading. You said you analyzed it but still lost? Then that's where the wrong part is, your analysis was simply wrong. As for how it was wrong, well just compare what happened to what you expected to happen, then derive it from there. Understand the factors involved, and if it's still missing something, find it. That's pretty much the only thing you'd do as a trader, rinse and repeat.

the difficult thing is that we must correct ourselves continuously until we finally reach the goal, namely trading for living. Of course, there will be many obstacles, and we must respond with enthusiasm. especially in this case using real money, so we have to respect that

Base on your statement you already got profit but having mistake you losses all your profits. I guess it's better if you have a trading plan and learn the fundamentals of the trading which is suitable for yours.

There's no perfect trader sometimes we lose on our trade and always learn from those mistakes. If you identify the mistakes try to analyze them. The best idea is to learn different trading techniques and strategies such as trading patterns, candle sticks, and more. You don't need a coach most of the traders here learn by themselves.

You made 2x profit in a week? Sounds too good to be true for a person who is new to trading. Maybe you got lucky and that is where you have gone wrong. Luck will not help you with every trade.

I would like you to first answer the question I asked above.

However if a certain coin has given you 2x profits, you should exit and sell, provided you are newbie who made their first big profit. You have no lost your funds if you are spot trading, I believe you are margin trading?

If so, please read more and learn about margin trading first before taking any chances in it. It is not for newbies and even veterans struggle in it, because it is a type of gambling only.

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You should make amends to improve your trust rating.

use stop loss everytime you trade because it the most safer strategy when it comes trading.. Even you know how to use different indicators it's still useless especially if the market is so volatile.. So bear it always in your mind to protect your money.. Indeed through youtube you can get some specific information what are the proper ways how to execute it in the graph.

My assumption in your loss is that you got screwed over by some sort of a shitcoin that hypes up their prices and deceives other people so the people that created the coin or have a lot of stake in the coin gets a lot of money out of the other people who are late to the party. I don't think that this assumption of mine is original because I believe that others think that it's the case.

Over confidence that's what went wrong. You did so well in the other trade that you felt like a professional and decided to take more risk for higher returns which backfired. You only picked that coins because of its price that's what I understood from your words. Glad you understand you made a mistake and now seeking solutions, that's a great step as many don't realized this until it's late. I'll advice you go back to the drawing board to see what went wrong.

After profiting from your previous trades, did you keep back some funds or reinvested everything into the other trade that didn't go as planned? Did you increase your risk without considering that the trades mightn't favor you as we just found out. These are the things you need to pay attention to. Greed kills many potential professional traders before the achieve their full potential.

You have to watch your emotions before entering a trade, don't get too over excited form your previous trades and do understand that a past success doesn't guarantee the future success. Also do understand that the market hasn't been favourable for the past week so something it might not be you but just situation you can't control.

When going to trade, you must know the capacity you have, such as knowledge and experience.
If you are a beginner with little experience and knowledge then don't take too big a risk, even at this position you are better off not trading and it is better to spend your time studying first before trading with money.
But if you really want to trade, then the way to minimize your risk is to trade on coins that have a large market cap and are ranked in the top 10 in CMC, the reason is because coins that have a large market cap are very small to manipulate and the price movement is not too volatile, so you can minimize the losses that will occur when you predict the market wrong, but of course trade management will be your next key.

Future trading does have a higher risk compared to spot trading.
I am also a beginner, here, fund management and risk are very important.
Usually, I only use no more than 5% (often only around 2-3%) when it will install a margin in future trading.
So when the funds are also lost, it will not lose too much.
In addition to the management, we can also see in the time frame (different traders' different strategies, can be by looking at TF 4 hours, 1 hour or minutes). This is to see the increase chart and decline.
Plus I usually see the lowest and highest prices before. Then, check indicators in more detail, this might be difficult especially for beginners, I also feel that way, but it's okay if you want to learn more.
Well following the news that can support DFundamentals also need to or there is FUD at that time. This can also influence.

Note :
Different people have different strategies, so wear the most right for you.

Why the sudden switch? You are already making some profits on the first, you should've continued it and make the most out of it first.
When you do, that's when you try to switch with a capital higher than your first entry.
I bet you tried the high-risk, high-profit motto which is not how it really works.
All you could do now is try to recover it without forcing your way. Go back to where you started make some profits there and try to achieve ROI or better profits again.

Losing is part of the trading. That doesnt mean you'll gonna give up on it. Good thing you are eager to learn and decided to continue. Learn more abouy technical analysis where it teaches you when to buy or sell your coin. The indicators will helps you a lot to spot a good entry point.

Also, if you'll have a good plan like setting stop losd and what % profit will you set, your trading will have a good success rate.

Well just by what you are telling us I see many problems, the fact that you invested in a coin that gave you 2x within a week and then you invested in another coin and you lost almost everything is telling me you are taking huge risks when you are investing, you need to take it slow, get out of the markets for a few months before you make even a bigger mistake and use that time to learn more about the markets and only once you have learned more then you need to select coins like bitcoin and ethereum, and only invest in those two coins until you can prove to yourself that you can be profitable with them.

Even a professional trader may also experience losses in trading. Trading is risky, that is why we must be ready for the risks. However, although we are ready, we must also struggle to minimize risks themselves.
Yep, sometimes, people have different ways to trade. People may also have certain cryptos that are favorite to trade because of having to know the coin cycle, chart, and also movement. Sometimes, people will also trade based on the fundamentals news at that time. or, it will also be based on the time frame analysis of each coin itself. I personally will prefer to trade coins that I really know, not willing to try other coins before analyzing them based on the chart and also cycle.

There will be risks in trading it is easier to succeed if you can go ahead with the risks with technology you can learn and practice the truth and something. If you need to learn how to copy creative advertising you can take classes online and the purpose can be achieved this is very beneficial for your business when you start out it is highly possible that you will be low on your budget and cannot afford highly professional people for business and planning. So if you know some strategies for yourself it becomes easier with the initial progress and later when the financial improvement.

I had prefer you a way which is very important in trading, which is patience. Without patience you can't do anything in trading and after all i will prefer you to buy short term coins first and analyze them hardly because analyzing the token is also a part of trading. Short term tokens will give you a profit and then you can be ready for the long term.

If you had success in trading one token and you applied a certain strategy, then I see no reason to change it, if you managed to make a profit, then stick to your strategy and do not change it, why did you need to switch to another coin if you received x2 ... The strategy must be changed in case of unsuccessful attempts, but on the contrary, you managed to double your deposit, albeit a small one.

I will advise you that 2x in a week may be luck game. Please don't day trade without full Knowledge unless you know what you're doing and having a decent amount to invest in. It's also mentally draining day trading as you'll constantly check and be worried and probably end up losing money. Stick with staking if you're new and maybe trade with 10% of your portfolio.

It's why my pairs are with stable coin, BTC/USDT, TRX/USDT... and I try to not move from my pairs, it's what I follow, I know what I can expect...
In the beginning, I made many mistakes like OP now... I make a profit with some pair, and I move all that money to some "potential" coin/token and I get busted! I don't do that anymore and if I invest in some new project it's for the long term! Simply, too many pump and dump schemes happen with them, so it's more like gambling than trading.

The first and basic advice will be don’t invest, all in.
Rather what you can do is split your funds in multiple assets so that you don’t lose all.
Secondly before choosing the right coin, do some research whether to invest in it or not.
At last when you get small profits of your base investment, do cash out.
If you greed for more profit, then ultimately you will face loss only.

May I ask what strategy are you using? are you using indicators? are you taking consider looking at the market cap of that certain coin? are you only investing to new coins? I think you should give us more information on how you trade, also try taking consider adding this to your trade. It depends on your strategy what kind of indicator you are going to use.

I'd like to echo in on this. Brainboss is right. What went wrong is you got lucky, but you failed to recognize that and thought you were actually pretty good at trading. Common mistake most "traders" made when they decided to get in on the business. Crypto speculators in 2017 and in 2020/21 would have made easy killings on most coins and new defi hype shitcoins. Why? Because you can do 2x in crypto easily during a bull run.

The true test is to consistently make money in any market condition. Which is what most people can't.

You're a trader if you can.

Beginners luck. OP, sorry I know that's a heartache if you got greedy after that. Which is mostly the case. You win, you think you are good at it and it happens to starters most of the time. It did happen to me too. Thankfully, I am the kind of trader that easily gets happy with a little profit and I didn't put it back to any coin. I used the money as cash and savor it.  :D
What you can do is try to forget whatever you had loss and try to start all over again. Just use what you experienced as a learning point and avoid whatever emotion you felt that time.

I did not use any known strategy all I did for the first week is take advantage of the volatility of the market by buying low and selling high; I guess I got overexcited by my first week profits I thought I could use the same method with the other coin which look more volatile.

Some people see it like gambling it all-in constantly, and yes that is the maximum way you could profit, there is no other way that could yield more profit then that if you are right that is true, but that is also the most optimized way to lose money at maximum rate as well.

Getting over confidence is not an issue, not realizing how to trade is the issue, you could still divide your portfolio and spend only 5-10% to just one trade but then have the confidence that it will make you profit, because you picked it and you are awesome! that is over confidence, but if you fail and lose money then you will lose only 5-10% and that is fine for everyone.

It means it is usually about not studying and learning more before starting to trade, even if you end up earning first, you will end up losing later on, it is just too obvious that people end up losing money constantly because they never study trading.

My biggest advice has always been leave your emotions out the door and become a robot in this work. However that is already said a million times so I am not going to repeated that. Studying about trading for months and months is a good advice as well but once again that has been said a million times too.

If you are not doing these two then you will lose, there is nothing more important than these two things and if you could become someone who is super wise about how to trade and leave your emotions out the door when you start trading then you can make a lot of profit. However lets go for the third one which is a little bit less important but still matters a bit ; do not listen to others when you are trading. If you did the first two then you already know about this of course, but I just wanted to add that if someone tells you about a coin then do not buy it just because you trust the person neither.

The best advice i can give you is to learn from your own experiences, look back at the token that made 2 times the profit reflect on the decision hat you made compare them to what you did right than and what you did wrong when trading the new one, when it comes to trading you have to really on your onw ways and your own strategies, but always keep in mind that you won't always win you are going to take some losses since the market is unpredictable, and trading is all about managing your profit and your losses.

Or, remember what you lost and take the lesson that tells you: hello sir, you're NOT a trader. So please don't make this your life and take away all the joy of actually holding, using and Dollar Cost Averaging your stash:)

Seriously, OP, stop trading, you're clearly not built for it and there's no shame in that because very, very few of us are.

Absolutely, You can learn all of those things from your own experiences. Honestly, sometimes we totally made mistakes but it help us think in a mature way. Maybe we can make those mistakes as our inspiration for us to learn more and earn good profit. Traders need to have enough patience of the things they enter especially here in crypto world. They must always have their own strategies and especially they must need also to be updated. Trading is not always win or earn, sometimes you also need to experience those things that might get you upset before you can get an idea on what to do.

Thing is emotions are almost part of every actions we made. It is almost like that known third law of Newton. :)
Only the best thing to do is just decide the opposite of how your reaction wants you to react. It might seem generic to say, but to put it bluntly, I day traded before and somehow in day 3 I managed to just stop panicking especially when I sell even if the market wants me to sell immediately.

He said that he lost almost all his funds applying the same strategy that he applied for the first coin, it is clear that his strategy is wrong as for the most part he is relying on his luck to produce positive results and it is taking huge risks in the process, almost no trader can survive any market with that kind of strategy and when we add that we are in one of the most volatile markets around the world then this becomes even worse, so what the OP needs to do is to change his strategy otherwise this is going to keep happening over and over again.

I am glad you can analyze the mistake and realize that it is not because the strategy is wrong but because you lose control of emotion and make you in a rush. Hopefully, you can get the point from your mistake to fix and continue trading and recover the losses. I am sure that will improve yourself in controlling yourself and it could also improve your skills because you now become calm down and can reduce the emotion in trading. Yes, all of us are waiting for bitcoin to gain momentum toward $45k and it will happen sooner or later.

True.

Not everyone can make money in any market situation. Mostly are aggressive during the bullish run and makes the best out of it.

But when it is bearish, it is the hardest time to make because you are mostly buying and won't be selling.

If you are good at trading and you got some profit after all, then you should keep some profit at least 50-60% for the big coins like bitcoin etherium etc for which you can earn a lot and that money will be save for you.

Yeah. What makes me happy is that my profit has not diminished and I have realized that the market is still going to bounce back. My only advice is do not get carried away by emotions, It's ok to trade a bullish momentum but don't be a trader that is over eager to trade, be prepared to lose money at times.

Glad you have realized this mistakes, don't beat yourself up these things happen. Even the professional sometimes get emotional. It's common but what makes you stand out above the noobs just coming in the the space is the ability to recognize your mistakes and learn form it and better yourself. We're all humans and sometimes we can just lose it. A slight miscalculation could make your emotions take control of your decision making but you have to be very vigilant as such event something ends new traders journey.

Just imagine if the funds lost was a huge sum that it'll take you sometime or never to recover. Imagine the market didn't recover this fast and kept falling like in 2018. Many traders experiencing this and it discourage them for further trades. The reason been that they invested more than they're willing to lose which is the main reason many people lose it when they get one trade wrong. Your case was different and it helped you.

My advice, in doing trade always be careful and always think twice or more before making decisions like buying other coin even you earn profit already from the the first coin you choose to trade. Trading is very risky and always need knowledge and understanding the market graph and price movement. Also, learn from your mistake and experience and from there think a possible strategy that you can be use in trading to gain profit and avoid loses.

Thorough observation and background check prior to investment must be done to ensure how things are going so that you can act right depending on the situation. It does not always mean that a coin starting with a good price will last to be a good one so must not put your guard down on monitoring into such coin because in this market that is highly volatile, things can happen unexpectedly. Also, it might be a great help to use trading tools like indicators and bots to help you out that maybe suitable for you as a help in your trading journey.

one more thing that needs to be prepared is trading psychology. even though we have studied technical analysis, then money management, I think without a good trading psychology, it will make our trading chaotic. In fact, there are those who describe that psychology has the biggest role for success in trading, so we must first understand the understanding of trading in theory and then continue with practice

I think what went wrong is that you were trying a new coin that might've been a pump and dump project of someone that wants to earn a quick buck, you could've made money out of it if it wasn't a token that anyone have heard. And try to stick on the known coins because you can't be wrong doing investing in those coins especially with bitcoin.

That's why it's important to do research and analysis before investing or trading,
because by doing that at least we get more detailed information about the coin,
what is clear is that it is not easy to make a profit in investing and trading takes hard work

I believe you made your first deposit too early and started trading. Like any newbie, the first thing you need to do is understand the mechanics of the market and get used to losses.
But it is best to do this without losing your own money, it will be enough to start with a demo account, which you will take very seriously as real money. Over time, you will gain enough experience to make a good real money deposit.

Indeed. No one will earn if there are lots of issues especially when there are negative situations that may cause prices to decrease. I suggest to all the traders that they must need to be careful and always think twice or more before making decisions, just like buying coins, you just need to make sure that you can gain even a small amount of profit when you trade. Trading is very risky and you need to have proper knowledge on it. Learn from your mistakes and always make your worst experiences as an inspiration to gain profit and avoid loses.

Maybe at first, if you tell us you almost lost all your funds it means in every trading you put all your money. Maybe that thing need to be changed first. If you get x2 profit, i think you can use only your profit to do trading again so you have back up when your prediction missed. Maybe that is first that you can do in future.

Most newbies make this mistake somehow thinking that they are going to miss in the action if they do not enter the market immediately not understanding that the market is not going to disappear and there is always going to be an opportunity to make money in it, but they are so desperate to generate profits and to become rich overnight that they never think about these kind of issues and then they have to pay the price and lose a great deal of money because of this attitude.

What will happen in future does depend on how you do make out trades because no one could able to help you out but only yourself because you are the ones would make out trials and errors towards your trading.

You cant just expect to have perfect or making profits constantly when doing trading and its just normal that you would commit losses and in all the projects currently in the market then you would really be having

a hard time on looking on potential ones.Suggestion i would say that stick into your analysis and losses are inevitable.Discover and enhanced yourself.

Demo accounts are good for those that can't risk their actual money to trade.

But afterwards, you have to deposit and use your money for it and there's no way to flee from that. You'll gain what you have needed to gain by using your money for deposits.

There are a lot of websites that allows tests and practice.

^ Regular traders are expected to experiences some losses and that is fine.
I think the best strategy that you can do is to improve your trading analysis and skills and also using a tool that can also help to reduce or minimize the possible loss in trading, use a tool that can manage your portfolio wherever you go you can monitor on it. And a tool that can be automated cut your losses when the price suddenly drops, and on behalf of you auto trading bot is a perfect tool that can execute trading upon with your command. Nevertheless, all these tools are just a tool, it won't work without your command and if you don't have enough skills, this will not work.

At first I think if you really want to make profits then you should trade with a coin that has much volatility because that's where the money is being made from, but at first you need to strategies and have a cool knowledge about technical analysis and also try as much as possible to use stop loss because it will save you very much from high losses. Always try to learn from your mistake and know why you had a loosing trade and try to correct the error.

I strongly agree, if we start to see every time we lose the important thing is to know why, so we learn much more, when we win in trading many times we do not highlight the why but rather we rejoice and let ourselves be carried away by emotion, and Although sometimes you lose in the operations, it is important to leave with a positive balance, in case we lose a lot it is recommended to analyze the market in another way, since you are not seeing the trading in a correct way, that is, the plans must be totally changed.

Many people see trading not as a business, but as a quick money-making option, and that's where they really fail.

First of all "Don’t invest any money you can’t afford to lose”
Secondly, DON’T PUT ALL YOUR EGGS IN ONE BASKET

Try to learn some basics about the crypto trade. I would say try to learn everything before doing any trade. Without the proper skill of the trade, you cant make money here. You will lose sooner or later. Try to learn about candlestick, how to use stop-loss, various indicators, Risk management, etc. Keep in mind that,  95% of Traders Lose Money and Fail in trade. So it's not so easy, You need to spend a lot of time to understand this. First learning, then try to earn. Good luck

experience is indeed an important thing to train mentally when trading and our readiness in unfavorable market conditions. Market mechanisms really need to be understood, but don't get used to losses. The most correct thing is to get used to price fluctuations so that you can avoid the impact of bigger losses and get as much profit as possible. always use free money to trade, it will be better.

I think, You need to now profitable trade. It's surely you need to know about trading. You make first trading so truly you need good trading signal.Then you can make you first deposit for trading. Trading with valuable coin and make good profit (2x) total.

Trading signal is a BS to create fake hypes on shitcoins that will only help people that created the signal to make money instead of the people who have invested in it. Ask this yourself, why give signal on coin when you know that it works, I wouldn't give it to anyone if I have the perfect solution.

Read the OP again to get the message of the OP, he isn't saying he doesn't know how to trade instead trying to get what went wrong with his trading strategy. Already he has previously made profits in other trades he has executed and was successful but just trying to know exactly what he did wrong in this one, which he has from his follow-up discussion on the thread. You advice is totally wrong. A professional trade you say, how do you know if they're professional trad e (if there's even anything like that).

Basically you're just relying on a random users you see offering the said professional signal service without even knowing if what he says is true. Firstly the industry is full of fakes so in every 10 signal service provider you see out there, atleast five is total scam which they don't have any intention of providing the service they claim to be providing but just there to scam users. Out if the 5 remaining, 3 don't know what they're doing, the said professional can't even read and interpret charts but just relying on the power of their audience to pump and dump tokens.

The other 2 which could be doing the real thing in terms of providing signal could have other motive behind their service like shilling certain project for their selfish gains.

You are right, the entire crypto space is full of scammers and I have realized that there is nothing like trading signal provider, it does not exist trading signal is scam it does not work.

While learning to use some indicators in order to trade is without a doubt important at the same time you need to be able to put a coherent strategy around them, after all there are people that are experts at using many indicators and when you see their charts it is almost impossible to see what the price is doing because of all of the indicators that they have in place, however even if they have so many indicators they do not really know what to do with them and that's why they still lose money despite their deep knowledge of the inner workings of those indicators.

I firmly believe that if trading signals are not a good strategy, it may be profitable, but for how long? Are you sure trading signals can give you consistent profits? I doubt that. Trading is about understanding our own potential and abilities, and the OP is very visible if as a trader he has not found his potential and abilities, learning from mistakes is the best way to solve the problem, not trading following trading signals.

That is the thing, those that are relying on signals are relying on someone else for their financial future, someone they do not know, someone from which they do not know their credentials, intentions or anything else that could help them to decide if this is the person they want in charge of their future, to me this is incredibly scary and there is no amount of hype that will convince me that this is the right path for me since I prefer to study on my own and learn how to trade by myself.

An example of how to correctly predict the price can be seen here (https://cryptogeek.info/en/blog/bitcoin-price-prediction). I would advise you to write your question to them in the comments, I think they will name the tools with which they make their predictions.

Trading some times work and get you huge profit.But for that,you need to hold for the longer period as much possible.Sometimes you may lose 70 percentage of investment.Time define the profit.Holding people get huge profit all the time.Some people loss by doing panic selling.

Yes if there was some thing like perfect trading then he/she would have became billionaire in few years. You can get familiar in trading by talking with people and taking their thoughts , watching some online videos can also help but really you can only learn when you do it yourself . Your knowledge will only get increase with your experience in trading.

No one can create the right strategy in the first attempt. It is created through re-evaluation. Analyzing your mistakes and making required changes will help you improve.

I think the problem here is with your analysis. Although I agree that no one can make correct predictions but if you lost all your funds that simply means that your analysis was not even near. Try to work on that.

So you have invested all of your funds in one coin! It was a great mistake, Most of the people do it and lost their money on the trade. Remember, Dont put all of your eggs in one basket. You can't survive in trade in this way. The main reason for this loss you did not manage your risk. It's very important to manage risk in crypto trading. I will suggest you try to read some articles regarding Risk management. You can also watch videos on youtube.
Here is some video/article regarding Risk management:

1) Money & Risk Management & Position Sizing Strategies To Protect Your Trading Account (https://www.youtube.com/watch?v=TrTJR-6z6xY)
2) Risk Management - Technical Analysis Series (https://www.youtube.com/watch?v=ofwtsc20hOY)
3) Risk Management and Position Sizing (Simply Explained (https://www.youtube.com/watch?v=TjypytEW52E)
4) Risk Management: The Essential Tool For Day Trading Profitability (https://www.youtube.com/watch?v=LKQH1EsFVKA&list=PLfs71TITjLv1OtRO7VnXI-LM7Rt9jlDtZ)

5) Risk management part 1 (https://twitter.com/EmperorBTC/status/1338113899548135424?s=20) (Twitter post/article)
6) Risk management part 2 (https://twitter.com/EmperorBTC/status/1338113899548135424?s=20) (Twitter post/article)

I still not understand yet how to read and make chart, maybe the only me faced problem with how to mark chart where have support entry to buy, but I am always checking with coin want to buy and see price day by day. When lower price coming this time to buy without read about chart because I am not understand yet there.

For me, it is important to choose the best coin, learn how to trade and hold your coin specially when you are not earning but getting more losses. Crypto price is not stable so it is important to understand it and do not panic.

for me we must first define our trading goals whether trading long term or short term. for the short term of course we can not hold any longer, and must place a stop loss area. it feels difficult, but if we study it continuously over time we will understand and have intuition naturally

Maybe try to trade in pair that can be more expected like bitcoin. Because in future we don't need all day to gain any pnl in our trading activity. I think my suggestion so far is like that because OP said that he already made profit, so he know how to do future trading. Maybe only way that we can suggest is pick right coins or at least safer coin to trade in future trading.

You have earned X2 profit from the result of the first trade. Thus diverting to trade in other coins and resulting in losses. Actually this is a natural thing for a trader, profit and loss is something that cannot be avoided. But you didn't say clearly which coin caused the loss, so I can't say for myself what steps to take. If I make a suggestion, if the altcoin you are holding is a potential altcoin, you should hold it for a long time. there is no need to panic with the downturn that occurs, but you must have enough patience to wait.

Okay, I am providing some video/blog posts about How to read candlestick charts & the Basics Of Technical Analysis.
It will be very helpful for you if can able to learn those.

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Candlestick charts: The ULTIMATE beginners guide to reading a candlestick chart (https://www.youtube.com/watch?v=jmoOrgTP5XQ)
What Is Candlestick Chart? Basics Of Technical Analysis Candlestick Explained By CA Rachana Ranade (https://www.youtube.com/watch?v=V47CdOCDo4s)
The Ultimate Candlestick Patterns Trading Course (For Beginners) (https://www.youtube.com/watch?v=C3KRwfj9F8Q)

If you do google/youtube you will be getting tons of videos like this. You just need patients to learn from those videos.
Don't waste time, first try to develop your skill.

You can be investor than trader, buy coin when lower price and sell later after price raise up, do it for every moment but if you buy on higher price and later price dump wait and hold until price back. Not any technical need as investor just know with good coins to buy, Recommended with BNB or ETH as holding coin and open your portfolio maybe two months later.

You’ve made a wrong choice with that second token. It very often happens when traders invest in new projects. To avoid this in future you need to check all the info about project you want to take part in very carefully and always to protect your tokens by stop loss orders. Otherwise you can miss the dump. But the best way not to lose your money is to invest in top-10 coins of coinmarketcap. Those coins are the most reliable.