Bitcoin Forum

Hey guys.
First of all, i would like to thank all people here who are sharing informations and help other.

 Secondly, i want to share my bad experience in crypto using future.

Before Starting in crypto, i have traded forex in 2016, starting with a capital of $ 500,  i Lost it quickly then i have learned TA, after a few months, i came back and start again with $1k, Wich i turned into 5K in almost 15 days, but i Lost all again because I didn't respect rules and take more risk then i realized that forex isn't for me.

In the beginning of 2016 i started trading crypto but didn't know a lot of things about Blockchain, then lost again, because I didn't hold ( sold BTC and Ethereum at 2000, eth at 800 😂...

Since April 2021, when all people talk about crypto and when all is green 🍏 i started again in crypto but I didn't have  a clear strategy because i have trading using the money that i barrow from the bank Wich i had to use to buy our house with my wife, then i Start to take money from the bank, 3k a week, then i traded spot but as i wanted to make profit quickly but that was the wrong...
Then i started trading future and after turning 5k into 11k I didn't take profit coz i was greedy lol
After I lost all the money i have Wich is +20 k, i was living in hard situation coz i didn't buy the house i had planned with my wife to buy and she was angry as she didn't understand all this, she think it's only like casino...
Now I'm paying the bank every month the money i have borrowed from them until 7 years ...

It was a good lesson for me that I won't never forget.

My advice for newbies :
PLEASE, DONT NEVER TRY FUTURE.
PLEASE, DONT NEVER USE THE MONEY THAT YOU NEED FOR YOUR LIVING.
PLEASE, DON'T NEVER TAKE The MONEY FROM THE BANK AND TARDE WITH IT.

At the end, i apologize if that's long, but i would just like to share this and i hope newbies like me take lesson from this.
 Thank you guys.

Staying away from Futures trading is definitely a good idea unless you like crazy risks.  Crypto is volatile, Futures trading is high risk by definition.  Combine these two and you get as much risk as you would from gambling.  Particularly when you do not have a strong background experience to begin with.  Borrowing money from banks is another risk, so what you have done is nuts!

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Regards,
PrivacyG

Sad to say, I've lost a lot of dollars in my life.My future would have been much brighter today if I had converted my money from the time I worked on this forum.But I kept all my coins without selling them because of which I have suffered a lot today.I have learned a lot from here in my life. From then on, I will never hold any more coins. When I see that the price has increased, I will immediately sell it and convert it into money.In this way, our future may not work. We have to find a better way to move forward. As much as I have lost, I will not make such a loss after that. Meanwhile, everyone should be aware.

It seems easy this industry but is not. A lot of people are promoting their shit idea, or a simple picture valued millions of dollars and we are forced to think that "it's easy making money here"... but it's just a marketing move...
in your case, you have learned a lesson that in a certain way could be applied... in the future of your life.
crypto world is not easy to understand because you have not anyone that is helping.
you have to understand by yourself. and even if you find an explanation sometimes you can't blindly trust that explanation.
my suggestion is always the same in this case.
try to learn as much as you can on that field and after... act!

Well Op, they are things you shouldn't risk for cryptcocurrency, such as; your wife's happiness, shelter, and health. When next you want to future trade a hooping amount of money make sure every important aspect of your life is fixed. Even if the results plays out to be negative you'll have other things to fall back to. Now, you lost the house, coin and your wife's joy. The home will be unbearable for you, because you don't know how to explain to your wife about the sudden disappearance of the money you borrowed from the bank.

Failure doesn't determine the end, since you have lost so much on cryptocurrency trading, don't stop right there put in some time in learning from experts on how to trade. In this market time is crucial, trade your time first before the money. By doing so you'll have enough experience from what you've read and it'll serve as a guide towards any activity you want to make on an exchange. I'll urge you to explain everything to your wife, apologize to her and promise her that given time the money lost will be replenished. Let her see it as an investment and you'll find yourself coming back stronger and wiser to the market.

futures is not for newbies. your funds can easily be liquidated on this type of derivative contract. but it is great to hear it from a user who directly had experience in this kind of trading.
7 years of monthly payment is a very hard lesson to remember. this is  a testament that in crypto, whether you are in futures or not, it is always best to use your extra funds and not your loaned money. at least, if it is your spare money, if you totally lose it owed to greed, it is only you who will suffer and not other people like your loved ones.

Thanks for sharing, this is good for those traders, newbies or not that have been feeling greedy with their trades. Never ever forget to take profit and your capital if you can.

That's going to give you the confidence that you're doing good if you're taking them and going to keep trading with the remaining money from your profit.

It's going to give you a good feeling if you have secured a profit and your capital back in your hands.

whats your strategy in future trading ?  never risk more than 1-3% . even when you cut loss and candle turn into your favor you shouldnt regret doing that  . the point is to save your capital and do better ta and money management for next trade. also not using stop loss can wipe all your gain .  and for your personal problems I hope you get through it well.

Those are good points.  Especially with trading futures with money you don't have to lose.  Crypto turns on a dime and you will be liquidated before you even wake up.  Crypto is very volatile so expect the worst but hope for the best and if you are putting your rent or mortgage money in you will end up slaughtered.  Sorry to hear your story but it's all too common here.  Greed is a bitch.

I know that but regretting after you are losing in the future was a big mistake. Why don't you only play in the spot if you can't even deal with the risk? Playing future = you have known the reality and deal with it. So, anyone who wanna deal with it must have known about that. For the members who have not yet touched this thing and you must not try to do that, This is pretty much the same as gambling or binary option but you have stop losses for this.
OP, why don't you use stop losses and try to go out before all of your money got liquidated? where are you going all in OP?
Using a loan to trade in future is the biggest mistake in your life.

Wow, yes, be very careful, bro.

Trading is very high risk! Price can go up or it can go down, nobody know. It's huge risk because trading is like gambling.
Better avoid it and only HODL.

Playing Future Trading risky games with borrowed money and not setting a Stop Loss is crazy, particularly when you keep taking money out of the bank every week that you know you can not afford to lose!

I will be the crash of your party, but I have breaking news for you.  Price goes up or down with HODL as well. 

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Regards,
PrivacyG

You forgot to include to not be greedy. In your experience you actually gain from your investment (from forex and crypto) but because of your greed to earn more, you missed the opportunity and end up in a worse situation. Its a must to take profit at times thats the purpose why you're investing right? To profit.

Control your emotion and dont be greedy. Atleast now you realized your mistakes and other investors (specially newbies) can learn something from your experience.

Anyway, cheer up because you can always do better next time as long as you wont repeat the same mistakes again.

I see that you're into the hype and whenever there's one, you rush to jump on it without realizing the consequences. For me, that's lots of trouble because rushing into something makes you prone to something you don't really want because when doing that, you haven't even refrained and thought of it twice before you invest. I also have some money to spare to expand my investment but I rather choose to wait and carefully wait for the right time to buy because rushing is not a good thing to do here.

I see no problem when someone lost money and someone made money. And complaining about someone or yourself won't help much, instead keep looking for new opportunities to review past mistakes to fix it. Even though you have lost some money now because of past mistakes, if you are not on the right track, there will be other mistakes in the future waiting for you. Personally, I'm in any field, being satisfied with everything and knowing enough for myself will bring a comfortable life.

Until now I have never tried futures trading, I think that it is very risky. I have never experienced it firsthand, but some of my friends have experienced losses that even exceed the losses you mentioned. They also advise against playing futures trading.

" It would be better if you buy coins or tokens directly on the spot for your future " is roughly what one of my friends said. I have a plan to at least find out how the mechanics of this futures trading actually are.

I am sorry for your loss. Never using money for living is quite right because you need to continue life and without that money, you can not buy your daily needs. When you want to invest in crypto or others, you need to know how much money you will use and do not use all of the money because you read the news that many people are making a lot of money from crypto. That is not like that and it is not as simple as you tough because they have already been in crypto for some time and are lucky to make a big profit from crypto. You should always be careful spending your money because your life will in risk if you do not know what to do.

Your experience is really very sad, i'm sorry  :'(. Thank you for sharing your experience with us. crypto can indeed be an easy way to make us get rich quick, but behind all that crypto can also easily make us bankrupt and poor.
 
from the past, many people have warned of the risks that will be obtained when investing in crypto and several others have always warned to use money that is not used for daily needs but many people ignore it. i hope that in the future no one will be like you.

Yup same as everyone else said, never trade money you cant afford losing, and Never, ever under any circumstances trade with bank loans! Your lucky that it was 20K, people have remortgaged their homes looking to make a quick buck and lost it all. I would personally stay clear of leveraging as well but at the very least traders are borrowing for the most part against collateral they already own!

Bank loans geeze, sorry for your loss but thats a deffo no for anyone!

This is the safest gamble. Future trading is something so addictive. Yes its easy to earn but also the losing is also high chance there. Future trading is increasing leverage to earn by risking your funds at certain level. So for beginner this is really tough, only those who knows how to earn can easily find it easy. Also knowledge on charting, technical and fundamentals are highly recommended for your skills before doing it.

First, sorry for the loses. It's not easy losing such amount of money. But, you should have been wiser in the proof time. I mean your loses should have taught you a lesson or two. However, thanks for the advice. Personally, I don't do future trading, I don't understand anything about it, so I run from it.
Another advice you fail to mention is that, we should always learn to take profit. Don't be a dashboard millionaire. Always take profit, no matter how small.

Investing in cryptocurrencies is crazy, I have known cryptocurrencies since 2012 or 10 years ago, at that time I was actively trading and participating in HYIPs, cloud mining, etc. when I managed to withdraw and profit then I would add more so that the value increased significantly, and the bad thing happened that the cloud mining and HYIP site became a scam so I stopped completely since 2015. Now I only invest top coins and hold for long term.

very sorry for what happened to you.
it's true what you said NEVER TAKE MONEY FROM THE BANK AND TARDE WITH IT.
and I say it should be noted for novice traders, because if you don't have the expertise and experience I can make sure your money will be in vain, but here we are also taught so that we are not greedy in taking profits

How can you say it's not for you already when you just lost it? When were you successful in having turned $1k into $5k? What is the realization there? Is it just because of the loss or your lack of discipline and rules that you should set yourself not to lose your every capital?

I think it's just on your mindset that you should know your limits and have backup plans or have an emergency fund before anything else to quickly recover anything that might affect your lifestyle or living conditions.

You should have control over futures and set the right amount of rules. You can try Gunbot (https://gunbot.ph) to have a trading system that can assist you continuously.

all i can say is congratulations to your all success and failure in this investing and trading journey mate, what i find in your post is that greediness is all your problem and not the strategy you made.
because on all of those? you started well(Of course not including the very first time) this means one thing that you are good in this field it is just the attitude that brings you mostly to losses.
this may serve as your lesson mate that in any investing you will enter try not to seek too much profit and be contented in small but surely way.

From your story, it seems that you don't have the expertise to analyze so it makes you suffer losses and unfortunately, you do that many times and even use the money you borrowed. I hope it is the last time and you will never do it again and better start learning to trade.

We all must have experienced losses, but if we can take lessons from what we experience, we can change and improve our skills. Take your losses as a reminder and your reason to study better so that you can reap the benefits later.

I think it's pretty pointless discussing rational numbers with guys like that actually.

First, the post sounds completely fake, as you noticed. Second, the guy is probably not even using his real forum account, so that means he's not telling the truth or he'd be using his actual account. Who the hell loses that much money and doesn't have an account here already right?

Anyway, Gunbot is just for automation. If your system doesn't work, Gunbot doesn't make it better :)

Disagree with the number 1 and 3. Newbies can try future but with extra caution, I learned future and how it works through experience but of course with a limited amount of money around $20-$50 per trade and with a lower leverage to see and experience how it works. The third one, it's alright to take money from the bank and trade with it as long as it is your personal savings and not a loan taken from bank since I'm sure you wouldn't be able to pay for it.

I agree with the second one, if you have money and that money is for food, paying bills and other important expenses don't try to use that to trade or try your luck with trading since trading is like gambling there's no way you can tell that you are going to have profit and so it's not smart to use that money to trade. Only trade using your spare money that you can afford to lose.

You made a very good choice to stop trading futures. most of us that have traded FX back in the days and even if we did not make profits from those trades didn't take that experience and did not go in the same direction with crypto instead, we went into crypto trading with that mentality however, I believe that spot trading if at all you are going to day trade is the best. Buy and hold and sell when you are in a better price but for me, I prefer a longer time investment but great that you have realized the mistake and also shared it with us cos some will definitely learn from it.

 The first impression I take from your experience is that you are too ambitious with a world you don't understand. It's true what you said that you were greedy, but what's even scarier is that you borrow money from a bank to trade crypto, that's crazy in my opinion, don't you think about the risk of loss that you may experience in the future? My advice for the future is never to repeat this kind of thing again, never use your life's money to play crypto, just with the money you are ready to lose.

It's a golden rule to always play with safe money that you can afford to lose. Don't invest your hard-earned money and don't be enticed by others' earnings because the result can not be the same for everyone. This market requires patience and does not trade like a gambler always book the profit at the right time. Learn to control the greed If you become greedy you might lose all your profit. Mostly, newbies, investors come here to make quick money but they end up in loss because of their gambling nature and lack of knowledge about the crypto market movements. I feel you lose money in overconfidence. I would advise you to enter again in this market when you learn the basics and fundamentals of the market otherwise it will always be risky.

I just read the words that are in capital letters and I think its enough to know what is the main idea behind the OP's post.

I agree with you and I think many of us will agree because there are some traders including me who tried futures trading and failed. I still remember when I double my money in a short amount of time but I did it thru many trades (like swing trading but in the futures). All of the profits and the initial capital that I used in futures trading got wiped out in just a single trade. I did one single trade mistake and I lost all of my profits and my capital. After that I didn't do futures trading anymore. Futures isn't for everyone. Futures is for the expert people and those who are ready to lose their money if they made a single mistake.

Here some mistakes that you have made it from your thread.

1. using loan to trade in the speculation market. Future is a very high risk trade for sure. You can get shorted by the whales easily and wiped out from the market.
2. You're being too greedy and yeah just take any profit from the market if you can get it.
3. you didn't use stop loses
4. you know that you have been loosing your money through future trade but you keep gambling on it with whole of your money.

Man, you have made lots of mistakes and you must work hard to pay your monthly debt to the bank. I hope that you know what you must to do next.
Avoid to deal with future trade anymore if you didn't have cold money to be used.  You may lose your life once again when you do that in the future

I feel sorry for your $20K loss buddy and thanks for sharing your experience, I hope it can help novice crypto users and investors in terms of awareness. Anyway, I can say that trading futures are not suitable for newbies because it's not easy to catch up with the market trend, crypto is a very volatile asset that's why everyone should take some precautions when it comes to trading cryptocurrency whether it's for Spot, Margin, and futures. everyone should learn first to avoid such incidents to happen unless it's just for trial and error purposes.

There are people who actually make their living out of the crypto investments and future trading is one of the way to do so. It’s a myth that you are spreading here and I think it’s not what others gonna follow. Most of them in trading section knows how to trade by using the skills since there been hundreds of topics on the same.

I’m so sorry that you came to know that you did not qualify for the futures trading because you went into it blindly.
Understand that trading is critical workflow which needs to be understood before investing.

Learn, train yourself, and keep implementing.

You have learnt a hard lesson OP. $20k + is definitely a huge amount to lose and it could bring a change in one's living for a short term.
You have definitely made some mistakes but it's good that you have realized it. Just keep in mind not to repeat those mistakes again.
If you learn trading and do it the right way may be you can recover your lost funds after some months.
Take profits along the way and use stop losses to limit your losses.

Its so pity, but now a lot of ppl taking money from bank and trying invest, but its rly like russian roulette.
I also should pay the bank a small amount of money, im taked around 100$ 3 years in the past, and im paying it for now, haha and im have a job which paying me every week a salary, but i just wont pay (im from ukraine) and im learned one rule, never use money from bank which u cant return when u wont, in summary i alrd pay 200$ and should pay smth aroung 10$, no and no, its not coz i dont have money,  I just wan't pay bank. They always calling me and asking to pay, im saying " what u want? Money? Ill pay when I want pay, not when u wanna and pls dont disturb me"
And i also tried forex in 2019 louse around 20$ and forget about it. Then now i trying a Futures, but im use only a small bit of my money, that after im click Long/Short, im forgetting about this money, so they are not mine  ;D
People should fall once, to up in future.

Don't step on future if you are a newbie since you will encounter that heavy lose if you cannot defy thing towards picking good positions maybe for now train yourself on spot since its more safer and your money will not burn if market drops for sure in that you can learn a experience which you can use for your next trade in future.

The loss experienced by the OP is indeed very large, we must learn from these mistakes. It is clear from the experience recounted by the OP,
he does not control his emotions when trading. He was trading obsessed with wanting to make big profits immediately and greed overtook him.
So when OP was trading Forex in 2016 he managed to make $5k profit in 15 days, but because of greed he lost all of his profits. After that decide
on crypto trading without first learning about the crypto world. It's clear that trading crypto without knowledge, we will definitely experience losses.
Then entering 2021 the OP returned to trading crypto because the market was bullish, but the OP made the same mistake, he returned greedy
when trading futures by using borrowed money from the bank. In the end, his life fell apart and had to bear huge debts. We should learn from
the OP's mistakes, because the experience of others can be useful for those of us who have not experienced it.

Future trading isn't for newbies, OP is too early to choose Future trading. For newbies, Spot trading is much safer for them although there is no guarantee for no losses. So, OP should start from Spot trading and get some experience+knowledge there for a few months at least. Then, he can try Future trading with small capital once he thinks having enough knowledge+experience after a few months or even years in Spot trading. Honestly, I also still didn't try Future trading although I have spent more than 3 years in Spot trading. It is because I think Future trading doesn't fit with my trading style.

It all depends on the person for sure. So if the people don't manage to do their goal and just sit around and not do anything about it, it's not going to be as effective as it should be.

He doesn't make sense, you are correct but I don't think there's an evident connection to him having another account or something. I don't really care though lol.

True. Better stick to the tried and tested strategies included.

I have stop with future about one year ago and never try again with future trading, last time ever loss $2,000 on big fund and not remember when fund about $100 until $300 deposit for future trading, usually first time after fund deposit looks easy how to earn profit with future trading, but always first get little profit and second entry with future loss all my assets. Now only keep spot trading because how ever price drop we still have our coin although have lower price but still have our money without loss like on future trading, although giving much profit and faster with future not come back again for entry on future trading.

Newbies shouldn't try futures trading it's the riskiest trading strategy that ever existed , every newbies must start with spot trading instead of futures because spot trading has the lowest risk of all, greed is why a newbie will want to try out futures when they aren't even good with spot yet.

Thank you for sharing, I hope people stay away from futures trading as far as possible. The biggest mistake in financial investment is not using borrowed money to invest. They not only bring risks to ourselves but also have consequences for our loved ones. It's even worse when we want to get rich quick by trading futures, to me it's like a game of chance. To be honest, I have not seen anyone win in futures trading whether a newbie or a experienced trader

That's a good story of your life. lesson learned. The only advice for you is to trade on spot and that's the best place for you to try to train how to control your emotion. You are being so greedy and don't take the profit caused by you think that you can be a rich guy in a night and this is really wrong. You need to take any profit from the market as soon as you can get decent profit from there.
Try to learn from your mistake and i hope that you will have another chance to do that again. If you can't accept the risk to trade in the future and move to the spot

You forgot to write down one more important point: to close your trade, don't be greedy after seeing a big profit because you probably won't be able to see it again shortly.
You may forget to write down many things, but this becomes an important lesson for you not to do it again in the future.
By always learning and never giving up, all your losses will be replaced with profits even though you haven't been able to get big profits in a short time.
Never give up because you still don't know what the future holds and keep trying.

As a newbie you can not succed in future trading because of it's risk factors. There are leverage system to go with and i am sure newbies can not contol their mind to handle risks. If you want to predict price of coins then you should prefer spot trading first. Future trading is only for higher experienced traders who has spent times in market and have done some research. If we can predict in spot correctly every time then you can target future with low leverage.

Many are attempted by futures trading because a small amount of capital can get big profits most contrast with spot trading, where we only earn small profit and waiting almost few days depending how coin reach up. But compared to the risks faced when playing with futures trading and you can loss all your money if not try to use stop loss or you not add fresh fund to make liquid far, but benefit with future trading now have waiting when bitcoin or altcoin pump to earn profit but also when market dump you can earn profit with use short position.

Big lesson learnt here  ;D futures trading is too dangerous for professional traders not to talk of newbies that know so less about trading, futures is a perfect example of gambling, the risk is too high honestly.

That is one of the biggest things that people end up doing and that causes a lot of people to lose out. Back in the day that made a bit of sense if it was like a big big big increase. Like you opened a long when it was 10k and it became 20k+ and then you are still holding then it makes sense but right now?

It doesn't make sense since we are not in a huge bull run that makes it go up like that. At the end of the day, we are talking about something that is a bit more common and you should take your profit and run away with it. Just do it like most people do, have 1k in that turned into 10k?

Just take out 5k and then with the other 5k do it again, keep doing that if you keep winning, and if you lose then go back to 1k each, that means 9 more tries until you run out of money and go back to your initial 1k investment. How hard that could be?

It is dangerous even those that are good in trading and has been doing it for many years, they're also careful. Much better for the newbies to avoid it because it's not for them.

That's certainly is a gamble and they should put it on their minds that making money there is quick and losing money as well. High risk, high reward but it's more intense than the market's volatility.

This is actually the common mistakes of newbies which they always add up a huge amount after they win on their first trade and thinking for more huge profit if they put huge amount on their next trade we see scenario like this and its so scary to happen especially if we use our life savings upon trading. Maybe other should be careful on this and develop their trading plans before stepping up on the market.

This sharing is also a big part of making the loss mentality more and more heavy for new entrants.  Don't spend 100% of your investment at once if you can't figure out how to be profitable and plan to rotate your portfolio.  I have also suffered losses but not dumping my portfolio is not considered a failure.  If buy with only 10% and let the DCA sequel stay under control.  In long-term investing, the concept is clear that only if you are willing to lose this capital without any impact on your finances.  If stop loss means accepting a loss and you will continue that way.

A very interesting experience and I'm sure it happens a lot. everyone also knows that always use cold money the reason is simple Crypto price movements can go up and down very quickly every day, if I may suggest if you want to re-invest buy good fundamental crypto, diversify into several cryptos and hold long term, this way is much safer.

I'm really sorry for your loss. And thank you so much for sharing your journey, experience, mistakes and all those things. However, I will always avoid future trades.But what I believe is that when we want to do future trade, we shouldn't take much risk, plus we shouldn't take risk with our all, we just go with that amount of risk that we can afford without any worry. After reading your story, your saddest thing is your greed. That is what turned you into a patientless person. What can't give you satisfaction with your accomplishments? That is why you lost everything. This means greed is equal to loss. Though what I learned from expert traders is that they always say to not go with everything you have in trading, go with that amount of what you don't need. Stay happy with what you gain, no matter how much it is. There you can't blame future trade. Here you are the main problem. If you were happy with your profit now, you would be in a good place. Your greed made you this. Though thanks to your suggestion, we actually got some lessons.

It's quite unfortunate that people could lose a whole lot from futures. Most times I see posts of huge percentage gains on the futures and I wish I knew how to go about it. The truth is that there are many more people making loses who are not posting their loses. I've come to realise that it's best to avoid those things you don't have in depth understanding about because there could be hidden risks attached.

Exactly, this is the same problem I believe is what is wrong with most newbie crypto traders because they still believe that crypto is a get-rich-quick avenue and they don't even try to do their due diligence, and even venturing into trading futures is highly risky. You can trade spot and still be safe as long as you don't sell even when the market is down but futures isn't the same thing.

I have mixed experience with futures i have lost it all when I was trading with higher leverages like 25x, 50x and 100x but I started recovering the loss when I had a plan in place wherein I will never use more than 3x leverage and only in invested into bitcoin and ETH wherein I will lose my money only if it goes down by over 33% which doesn't happen overnight unlike other coins. I think future is not for other it may ruin lives and make us go bankrupt, it's better to stay away from it or else use very lesser leverages.

If you know that you're trading along with an unstable currency, never EVER make plans that immediately unless you're entirely sure with concrete mindset that you're going to be sitting in fortune soon. I wouldn't even blame your wife getting mad at you for that, unless she have a good paying job.
Never also borrow any amount that you will use for trading. It's way too risky. You're never even sure that you're able to pay that off.

i am in deep shit than you lol lost around 500 btc + at multiple prices :(

Good you brought this topic...

i had promised to wife not to trade on futures but kept trading n losing like hell...

I have finally made up my mind not to trade in futures in my life irrespective of any profit

Suggest everyone to trade in spot and be happy with what you earn !

Indeed.
Don't try future trading if we are newbies, moreover if we exactly don't know about crypto yet fully or even don't know what future trading. Future trading is very risky for all people, moreover for beginners.
Sometimes, the only trust on free or VIP signals about trading in the future. But, note" never trust 100% to the signal because they are also predictions, they commonly shared the signal after they did it and the moment may have been left when you want to enter.
So, basically, do whatever you exactly understand. The best way may be trading on the spot exchange or even doing some holding only in the top coins (not the hype coins)

This relates to:
Trade or invest only the amount that you can afford to loose
Only use free money to invest or trade
Loan for trading is very risky, never do it moreover if you are new.
Be wise and smart

In the world of crypto of course we have the risk of every investment, because predicting coins for the future is not necessarily the case as we expect, so in this case we have to study in detail every step we want to do especially and do not borrow money to make investments in the crypto world this is a big mistake that we do, Here we can make money by following the bounty project and from there we can invest, although later we experience losses but we do not spend real capital as happened to you.

You're supposed to be trading carefully and have developed a good strategy because your trading with a loaned money because you will scratch your head once you lose it but even if its our money, losing is still a hard thing to accept because we also work our way just to get that money and when it's gone, we need to work hard again to earn another.

You lost on crypto before because you didn't hold but your new session makes you lose because you sold late. I think what you need is moderation, I mean not too early and not too late. You can try it for one more time and if you still fail well maybe crypto is really not for you. Also some of your advises are seem not right IMO.

I think a lot of them loss much on cryptocurrency because have wrong decision and choose which one altcoin have to buy, but have some investor loss every thing on cryptocurrency because investing on shit or meme coin and still have trader keep use future trading for investing. I see if still use spot and have potential coins for investing still have chance and not loss all in their life, looks nothing will gone car until house if try investing on spot only because their money keep safety just have lower value only, I think price will go up later but need to wait only until really have higher price later.

Well at least you lost $20k and no more than $500k, that was the case of two friends, in 2017 they started trading, and they were doing very well, because every altcoin they bet that meant that it rose uncontrollably, and they made a lot of BTC and Crypto that at that time was worth a lot, however they believed that the BTC would never go down in price, but on the contrary, that the bearish trend would begin or what we commonly call the Distribution stage, no matter how hard they were I warned them to sell, to leave everything in usdt or fiat, they did not pay attention, but instead invested everything in altcoins, and that was when everything fell apart, and they lost all that amount of money.

You made a useful trade in the forum.Because same happened to me in future trading of binance. I had lost over 2700$ in future trading. I had experience over all the trading from the beginning of forum. So I had started the Binance future trading with some good hope. But future trading had teach me a lot. Which is not in previous trade history. Huge loss in a trade. I had started with 1200$ and do continuous trade till it 2100$.After that I was gredy to get more. So I had made liquidity over 600$.But market crush eaten all my 2700$.This leads to huge loss for me.

That's a lot of money to be lost in the future trade. This trade is very risky trade caused by you can be shorted by the whale and the whales will make you lose your money. To be able to control your emotion is the most important thing right now. You have managed to get unrealized profit from your future trade but you didn't even take it. You have made a big mistake by using your loan to gamble it on the future trade and now you have no money to pay back your loan again. You need to work and then forget about what you have done in the past. You need to learn don't be greedy guy when you are trading in the future market.
If you get small profit from there and just take it as soon as possible and try to bring back your capital first and then use your profit to trade again.

     If it makes you feel better, just think about it as an expensive learning course about this industry. Futures alone really doesn't do that much harm for newbies. What really does them harm is low self discipline and greed. I bet you were over leveraging on your trades and get easily fomoed into most of the trades that you do. We've all been there. It's just that some people learn faster or slower than the others but what matters is that the learning is there. Never give up on trading. It is a tiring and a very tedious career to take but when you finally get the hang of it it will really change you into a better person and lead you to a life that is financially stable fulfilling.

     if your wife does not support you, then you're with the wrong woman, brother. Some women don't understand that changing a person to suit their wants is dumb and that anyone that gets easily swayed to give up on their dreams are not reliable partners and would guve up when things get rough in the long run. Anyway, good luck on your future endeavours, stick with what you believe in! I'm rooting for you!

Of course, you have the right to express your point of view about futures based on your own experience, but you have no right to recommend others not to use margin trading. If you are not a trader, but only hold coins, then it will be dangerous for you not only futures, but also spot trading.

The “take profit” strategy generally involves selling some fraction of your holdings each time the asset reaches a new all-time high. For example, a take profit strategy may be to sell 10% of your holdings every time the price exceeds your previous sell price by 10%. You can combine this with a buy back in strategy.

That seems a simple strategy but you would really need to stick to that plan as I think greed will start kicking in when the price keeps rising and rising. Another strategy could be to sell 50% of your coins (or slightly more) when the price doubles in value. The rest of the coins, you can like see as free money.

Without an actual strategy, this is essentially a casino.

Especially if you are playing with leverage. That stuff is extraordinarily dangerous for beginners to touch.

I wouldn't say that futures are always bad - you can do some very useful things with it, including hedging your positions or whatnot. But overwhelmingly people are misusing it as a tool to get rich quick, and that is definitely not going to happen. Markets are quite efficient and you never quite know what's going to happen next.

Very valuable lesson to learn from this, but I wouldn't advice newbies or rather traders not to try futures trading, but rather, make sure you know what you are doing, don't go gambling or guessing the market's movement cus doing this is the beginning of failure.
And secondly, it's been adviced for ages never to borrow money from the bank to trade or invest in cryptocurrencies, it's highly risky, if you must borrow, make sure to borrow from family members or relatives who would understand the situation incase anything goes wrong.

Crypto is highly volitile and as such, it's high risk form of investment, this is why it's always adviced to never invest what you can't afford to loose.

@op, so sorry for your lose, and thanks for sharing, it's indeed a lesson for all to learn from, not just newbies, just as greed in the form of patience helps us make more money in crypto, it also can make one loose everything, we must learn how to get it under control, learn to know when patience have shifted to greed and know how to get it under control, this one of the ways one can survive and succeed in this space.

a big mistake if you risk all your assets to invest in crypto which must be understood for beginners that investing in crypto is full of risks so my advice if you are just starting out or want to benefit from crypto start with your extra money or money that not in use in the near future do not use the money from borrowed.

Hello guys,
First of all, i would like to thank all of u guys, i have read all your responses...

Anyway it was a big lesson for me but i won't give up and I'm planning to invest $350 every month in same good project and hold for long term this time.

Thank u again guys 🤗

One thing very much important is that we must not borrow to start up crypto. It's advisable we used our spare money 💰 or money that is not in any pressure to pay back for online business. Most at times people thought that whatever concerns online turns to be gambling so I don't really disclose it to people in terms of trading and investment.

Well nevertheless, sorry for the bad experience please take heart and start afresh by buying currencies instead of future trading ect.

very interesting experience. that's why people always emphasize not to use money which is very important for our life, and not to be greedy. however, you have so many opportunities to make a sizable profit. however, I understand how we can become greedy when we get big profits. I've also felt that way until finally it brought us a big loss. besides, never make a decision just because someone else is benefiting from it. we need to prepare a strategy before starting, especially if it is a place full of risk. this is a very good lesson.

There is a question that I want to ask newbies out there, why try something you know too less about with real money? Futures trading is for the pro traders around the globe, even exchanges will warn you when you click on the futures trading tab, the risk is way higher than every other, followed by margin trading, its good to challenge your brain but with low capital that wont hurt you, why 20,000$ mate?, you can't be greedy on something you know too less about.

I am not a newbie but I have seen a lot of newbies and I can give you a few answers to this. One of the reasons is the fact that they think they will be different than others and they think they "know" what is going on inside.

Think of it like "rothschilds and soros families are ruling the world!! they have hidden secret prayers killing virgins!!!" and so forth type of mindset, it is conspiracy and they think that they are in the know when they find some influencer who they think carries information from inside. Reality is that they are clueless but they think they got hold off some information that will make them rich and that is the main reason why they are so confident when investing.

Well, your narration shows truly that you suffered great loss. However, I think you messed up a trading plan that fetched you profit because you got carried away too soon. If a plan made you money, you ought to have settled with it and mastered it for greater profitability. Again, you quit too quick after suffering just two defeats from the market. Trading (whether forex or crypto) isn't an easy thing. You should've stayed a while to revisit the grey area of your failure and then try again. There isn't any profitable trader who didn't suffer losses before mastering the art.

You won't blame her for thinking that way, anyway. You made trading look like gambling to her.

Guys, if you are a newbie in the crypto world, don't ever play trading in futures.
even if you can give 30,50, 100 times the profit you will get but with the consequence all your money is lost.
Never play futures if you don't master the concept of trading.
It is not recommended to gamble in playing futures because you will have the potential to lose money.
if you are a newbie you should just play on the spot. relatively safer although it is possible you can experience losses but you still have assets
in crypto even if the price drops and you lose.
Again NEVER PLAY FUTURE IF YOU DON'T UNDERSTAND THE CONCEPT OF TRADING WELL!!!!

Alot of Traders have lost money in trading, it is as a result of their greed, wanting to have more instead of closing their trade, and secondly their carelessness. When involving yourself in trading, you need to master some essential qualities as a trader or as an investor, like how to avoid greed in trading. Trader need to be able to eliminate a greed mindset, these negative thought won't allow you enjoy profits in the space, as a trader you won't be opportune to have peace of mind in trading. Carelessness is also as a result of recalcitrant behavior of the trader. A trader can refused to check his trade, or can sleep without setting his TA( Take Profit) and SL (Stop Loss). All these are some basis you need to know how a newbie coming up.

I think this trading feature is where these exchanges are gaining a lot of profit. As I have read a lot of people getting liquidated by futures trading, you will ask, where will the money goes? Of course, it is in the trading platform itself. And I very well agree, if you are a newbie in trading, don't try futures. Better go for spot trading first. You can only explore futures if you already know what you are doing and know the high risks involve in this type of trading.

Buddy may your soul get peace, and you are totally right, we should only invest that money in future which we can afford to lose, like if they all gone than their should be no effect of lossing money on our life, yeah i know there must be effects but not like yours. So i only trued to play safe for some time and now i totally left it and moved to spot trading,
If i have 1k$ like for savings than i could turn them into many on spot,
Thanks for your post

Futures is actually a gamble.

Newbies think that it's okay to gamble with it and do it even without proper knowledge and training. I know people that do futures and they're good, they do it with a lot of pairs because they know how to do it.

They're also good in risk management, so their technique is low risk and high reward since it's future. They're taking that advantage on their own strategies.

Thanks for the nice advice. In fact, I am new to the world of trading. As I know, futures trade is more risky. I don't like futures trading because It is directly related to gambling...
There is an ancient saying -
"Greed is sin and sin is death"

How did you start trading as a newbie because you have to practice for years to start new trader. Did you know that a successful trader has to practice for a few decades then he becomes a bit skilled. So if you start a business without realizing it, you will suffer and you will lose your money as a reflection.

Betting on futures is very risky as some traders newbie are not content to lev. 5x but they set higher for maximum profit, but unfortunately because market movements are unpredictable, it is possible to lose funds because there is no liquidity that can maintain margins. We must advise newbie traders to stop being greedy because futures will plunge into the loss zone and have a psychological effect on newbie traders.

There is always a mandatory rules dont invest which you i afford to loose and other most important thing without knowing much dont try to trade on future trade its always a high risk trading platform and insted you can choose spot trading because its reliable than futurw trade and its always low risk and also choose binance for trade its also perfect for you!

for traders that didnt applied trading rules such as money management and trading plan , it is true as a gambling. no matter how much money in our balance it could loss only in second.

future or spot have same technique to analisys, but before we are expert in spot better dont try in future because its very risky and easy to decrease our money.

Future is ofcourse very risky game and all user should escape future. One can make good profit in spot and staking with low risk. If you see dip the Staking rewards while buying during the dips and then as a bull market starts, begin moving to flexi save or spot and sell 10% of your holding every 10% you go up from the bottom.

If you leave your greed at the door this will make you insane profits, its also safe as a crash at any point will leave you with some cash ready to buy the dip. And repeat.

In fact, it is very difficult to say what happens in cryptocurrency. There are many people who have spent their entire lives in cryptocurrency and have done nothing for their own lives.Again, there are many people who have taken a lot of money from this cryptocurrency. I would say that if we have to work in cryptocurrency then of course we will convert our money as soon as we get it.I will not think about what will happen next. Cryptocurrencies have lost almost everything. I also lost but regretted myself.Now let's go with the target. As soon as I reach a certain target I convert all my coins into my money.

The best advise for people "stay away from futures" is great advise.  So little amount of people win on these bets.  Crypto is too volatile and it's a 24/7 market.  Things can change while you sleep and get margin called before you even wake up.  Stack sats, hold and enjoy the ride is the way to go. 

I think the advice you have given is very suitable for everyone to consider because basically every decision must be based on the knowledge and direction of those who are experienced or from those who have tried it, because the Binance exchange now has a lot of features.
And obviously it is very helpful for every user who wants to trade there.

Unfortunately, there are quite a few such stories, thanks to the author's frankness, futures are not for beginners, that's for sure, the worst thing is when a newcomer by a lucky chance makes several successful transactions on futures and gets into the taste, then the market usually eats such people, just think a few times, try on spot trading, if it fails to make certain conclusions.

Thats why it is very important to know when we should buy or sell our coin and not being too greedy.
Target to take profit should be defined to getting real profit in the future, as well target to stop the loss.
With that strategy, our loss shouldn't too much and our profit should more certain.

Lucky are the beginners who could read testimonies like this because when I was a newbie in crypto, I didn't know the risk of future for beginners. I also lost huge funds on it which caused me confusion at first but later on taught me a lesson to study about how futures trading works. I failed and it was too late for me to realize that it wasn't for me. That was a terrifying experience but at least I've learned from it.

What you say is very precise so it is very necessary to implement it because stopping losses is very important for now and getting definite results is everyone's goal at this time so it is true as you say that targets for the future must be clear from now on.

It's better for them to not get involved with futures if they're not yet educated about it.

That's the best choice that they can do and stay with the spot so that they can learn their way until they can take the pressure and risk that futures have.

There are advantages and disadvantages with it and it's all on you on how to make yourself be versed with it.

I would suggest that this is not a great strategy either.

You should diversify and expand your reach as opposed to just DCAing into the same project regardless of what the fundamentals are. That is quite foolish.

Even if unlevered, pouring money like this into projects is never going to work out well. Yes, have a few blue chip projects that you consistently put money into, but also spread your risk out. I thought you'd have learnt through your futures failure.

One thing was constant and that us making same mistake every time despite switching from forex to crypto. I believe you have identified it and lesson learnt the hard way. Don't take too much risk, don't borrow to invest or trade, be consistent with your trades and win more on average. There is nothing wrong with futures but when you go all in with high leverage then it ruins faster.

The risk is really high if you are dabbling with the future market especially in the cryptocurrency market simply because it is a highly volatile market and there is no benchmark to understand what causes major market movements and it is controlled by institutional investors, so i will not take that much risk in the future market but if you are lucky then the return is attractive as well.

Hard lesson. I learnt it a long time ago. All my offline funds(I'm a physician) go into the family upkeep. I never use it for crypto. The money I use for crypto, whether farming or staking all came from crypto itself. I don't cross

This is a very hard experience you have to face. But, I am sure very valuable lessons were learnt.
For me, I don't even want to learn how to trade futures. I don't know how it works and I don't care because I don't have any intention of trading it. Matter of fact, I detest it.

It is a hard experience but it's the needed one when trading. Losing money it's part of the trader life. But always trade with money you are willing to lose. Doing stuff and losing money you need for living is really bad and hard situation to be in.

People who think that they could do futures do not realize that one mistake doesn't just end up with you getting a lower amount, it means losing all of your bet. This is why it is more like gambling because in the end you have either zero, or a lot. Investment is normally not like that, in the investment world you put your money into something and you either get something decent with it, or you lose a bit with it but never really zero, unless you invested into a scam.

For example, if I invest into bitcoin right now, even the worst case scenario would be like 80% drop, but NEVER 100% all money gone. Trading on spot, or investing, all have drops but futures have 100% drops, which is dangerous.

Your breaking news is wrong, it is less risky because we have less volatility overally. We don't need to worry about buy sell, we can just wait, wait and wait and get a good result later, hopefully.

Fearful or inexperienced traders should avoid futures and spot trading. You made the futures too simple. Futures contracts are risky due to their leverage, but comparing them to gambling is a mistake. A competent futures trader uses strategy, market analysis, and hedging. Gambling relies solely on luck. And the house always win

Standard investments can lose value, so no one can be guaranteed. Consider all the stocks and corporations that have gone to zero. Thinking ordinary investments are risk-free is dangerous.

It seems unthinkable that Bitcoin's price will plummet to zero right now. Its naive to think spot trade or traditional investments never lose 100%. Both future and past investments carry hazards. Managing risk is more important than blind confidence.

I think this topic should fall under the Trading Discussion and the mod should move this as futures trading is under crypto trading.

Since the OP is a newbie, I assume that he is still new in navigating to this forum especially posting to appropriate sections.

Spot trading is less riskier than futures trading. Before getting into futures trading, you must self-learn first on how to master technical analysis in reading the charts, patterns, candlesticks and possible scenarios.

I know how it feels to lose that amount, but that is a lesson that you should learn and never forget. Learn to move forward and get better with your trading decisions.

Yes, but most likely the point of the OP is that he lost big time in future trading and this might not be the appropriate boards and I will agree, but what's important that he want's to get the message across this community and he wants to share his lessons here because it's very expensive as for the majority of us, $20k could he a huge some of money to us.

It's really hard to get over this kind of lost, even in gambling, it will take days before it sink it unless we have really deep pockets and that we can afford to gamble and lost the money. But it seems that it's not the case for the OP and the best thing to do is share his lessons to us.

this is an interesting story. However, you always start off on a good foot, but end up losing everything due to a greater desire.
However, from the start, we are not encouraged to use the money we use to live, especially if we borrow at the bank for that. Besides, you are taking too much risk, and not taking advantage of it. The most important thing in business is management. when you have made a profit, then immediately secure the capital you use. Well, even though it's simple, it's a difficult thing because we don't know when time should stop, and winning makes us blind. However, it is a very meaningful lesson for those who would do the same.

I too have a bad experience with futures. Its nice and good profit till it goes according to your plan and it stays good in a sideways trend market. But when there are rapid highs and lows, you are doomed. You don't even hold the coins at last. Everything is lost.
If you believe in future of a specific coin, its better to buy them and hold and trade rather than go for futures, as if price go down, you have the coin to hold for selling at better price at later time and if it goes high, you have a profit on dollars. Maybe less so than in future but you are never in complete loss.