Bitcoin Forum

I HAVE JUST EXPAIN TO YOU MY JOURNEY OF TRADING THAT HOW I HAD LOST THESE DOLLARS.
I have started the trading from BINANACE app and I invest 1 k dollar at the start from spot while I had no teacher
i was in trainee at that time one day was will profit the other day was my loss day every month I invested in binance app from my salary
after investing these money would finish in just 4 to 6 days after that I again wait for my salary.
At the end in invested 6 k dollar at one time but there was a coin which has up from 0.92 to 14 dollars I bought this coin in 11 dollars and
unfortunately this coin dip to 2 dollars and I was see my loss in just 10 minutes.
My trading method I just sharing with you tell me where I done a mistake
1: invest in one coin also multiple coin
2: trading was at spot also futures
3.coin was buy from dip they again more dip
4.coin was sell from top they again go up
Kindly share your experience that I m doing a loss you are also a part of my problem so that I want to khow where I done mistake.

Your mistake has been to believe the hype: that trading is a good way to make money, when the reality is that the percentage of retail investors who make money from it in the long run is very low, and the time and money invested to be one of the chosen few is often not worth it.

In my case I don't do day trading or short trading, I invest for the long term which is much more boring but a much safer way to make money.

You done a mistake by trading when you don't know how to trade. You earn good from your salary job. Set out like 10% to 20% of your salary to upgrade your trading skills so that you can make profits on the long run.

It doesn't matter if you are investing on one coin or multiple coins, invest only on the coins you understand its movement.

It will be nice if you avoid futures. If you lose on spot, you might later enter in profits if you don't sell at lose.

This is why you should know your charts and only buy the bearest dip and also use your stop loss.

Unfortunately, that's true. Especially for newcomers to the market, it sounds so simple: you buy an asset (e.g. BTC) and simply wait until it is worth more than the price at which you bought it.
In reality, you panic and try to save what can be saved as soon as the trade turns negative and you incur losses. Often these rescue attempts lead to the fact that you spend much more money than you actually intended and in the end, like the OP, you are left with a high loss.

Even successful traders are 49% wrong with their trades ... however, 51% of their trades are successful. Exactly this difference then decides about profit and loss of the trades.

A few hints for you OP:

• Trade only in markets you know. Analyze the market as good as you can and take advantage of news and trends (e.g. it was already known in advance that the SEC will not raise an objection because of Grayscale. The market turned significantly positive with the release of the news).
• Stick to your plan: Set limits and stick to them (both stop-loss and take-profit).
• and very important: don't follow signals or "successful" traders, you will definitely only lose money.

Being successful as a trader involves having a lot of experience. All of us had to pay a (often high) price to gain this experience.

These mistakes demonstrate the absence of a strategy, as a person can follow the same mistakes and achieve profits, and the only difference is the history of buying and selling, which may turn a gain into a loss by following the same method. Build your investment plan better. Always let your goal be to increase the amount of Bitcoin and dollars you have. Invest wisely and do not let greed chase you. Invest in the decision to buy more than to sell, meaning that you buy when the price is low, provided that you know that it will return to a normal level, and from there you achieve Profits, and stay away from emotional investment and feelings.

Consider this an expensive life lesson. Nothing is a better teacher than experience. Now you (hopefully) exactly know how to avoid losing money with altcoins. If you do trades without doing your research again, you will lose money just like that again. If you want to make money, study some fundamental and technical analysis. Read some finance books and get some college education if you can. (Not a must though) If you start your business, that’s better than anything. If you can manage your own business successfully, you will know how to make money safely. If you are young don’t worry, there still many years ahead of you. In the long run $16k means nothing.

From 1k to 6k and 16k dollars is a lot. You are bravely to continue your losing habit from 1k to 16k without break time to think of mistakes and learn from your losses.

Your story is mixed between Investing and Trading. You did not invest in Binance App but invest in Bitcoin and altcoins through Binance exchange app.

Invest in a single coin is different than invest in multiple coins. It's not the same.

If you change from invest in only Bitcoin to invest in multiple coins including altcoins, you are taking more risk with altcoins.

Best is don't Trade.

Best is don't trade or invest in altcoins.

That was your bad luck that you started from a bear market. This is a usual scenario in a bear market the price keeps crashing. Your first point is right that we should not put all our eggs in one basket. We should diversify our portfolio but this should be done in a sideways market. If your investment was only in bitcoin and if you really invested in a regular interval like you have said then your average would be much lower than bitcoin's ATH. This could have been a good investment even if your investment would have been 50% down because bitcoin is an asset and most of the altcoin is just securities 99% time if an altcoin performs well in a bull market then it doesn't in the next one.

As you said you lost 16k dollars in 1 year. And then you come here to correct your mistake. I think it is a confiused word and an impossible story. Even if a person invests in Binance in a new state and loses the money invested in the first time, he will think a little bit about investing a second time. And then he will post it on a nearby person or here. But in your case it is completely opposite.Anyway, I don't know if what happened to you is true or false. If true then I would say you are too late to come here. When you're about to make the same mistake a second time, that time come here.

sorry for the loss you experienced.
First mistake, you clearly lack knowledge regarding investing, trading, or choosing assets. Actually, there is a lot you have to learn first before you just spend your money. it is an expensive experience that you have to pay for with your ignorance.
Your next mistake is choosing the wrong asset you want to invest in. I don't know how you choose assets, but when you follow an asset that makes a pump, obviously it is very risky when you buy it at the top.

If you want to focus on investing, then choose Bitcoin. If you want to trade, then try to understand spot trading first.
I hope you will never have an experience like that again. Once again this is a valuable lesson. you've already paid a heavy price for a bad start. but as you learn more, hopefully you will become a good trader or investor in the future.

The biggest mistake is probably lack of risk management and a proper working trading strategy that suits you. Yes in trading you are bound to make loses from point to point, but what are you doing to avoid blowing up your account in case a trade does not go your way?

Also, FOMO, Greedy (trading with emotions) is very dangerous.  You are still relatively new in trading. Take your time to practice and learn. Use small amounts of funds to avoid losing money that you can not afford to lose. This can even affect your mental health.

You are more daring to deposit thousands of dollars for trading while you have no strategy about patterns, charts, analysis and other trends and you do not use risk management properly so that more losses than profits in addition you learn with large capital.

There's nothing wrong with investing in coins if it's just Bitcoin you won't suffer any losses if you don't sell it.
Futures are more risky if you are not good at doing, spot trading is much safer although the loss will not be as big as in futures trading.
Maybe you are analyzing the wrong coin.
Same, you rush to sell and then after selling it goes up.

Because you chose to trade in altcoins without consideration based on good knowledge about trading. Trading is risky and there is a very high risk of losing if you don't have a strategy.
You will not lose money if you buy bitcoin for the amount of money that you say is a loss and hold it as an investment rather than trading.

You diversify into shitcoins, it obviously makes you more FOMO.
You also trade in futures but the basis of your decisions relies on feelings to open a position.
This relates to the first point. Buying on the dip and vice versa will be useless.

You invested at the wrong time 2022, is still the bear market year til 2023. And you invest in altcoins that have already pumped high which it could just be waiting for investors to jump in and then it's all dumped in you.

But you are not the only one who made this mistake. Many of us have done this before thinking the bear market will not really last for years. Along the way, you also learned the crypto market has cycles and the Halving is your cue.

Your first mistake was you bought coins worth 1k usd, without having any prior knowledge in trading. If you don’t have knowledge, then it’s important to educate yourself on trading first. Hard work and time gives you real money. If you don’t respect that and invest it like this, then you won’t be able to earn it back. You should have first learnt about trading, learn technical analysis and then learn how to research about particular coins. When you done this, then do trading with demo balance. Once you feel confident then only go for real money. Hope you recover your losses very soon.

Trading isn't the best way to get profit and before you should trade, you are suppose to have learnt the fundamental mental analysis and technical analysis in trading so that you should know when to buy. You also didn't take your time to make research of which coin to buy and that was why you bought altcoin. Altcoins are used to scam people that is new into cryptocurrency and they don't have the knowledge that bitcoin is the only genuine cryptocurrency, or for greedy investors. Bitcoin is the only cryptocurrency that is worth investing in and don't ever think of trading but think of holding for a long time and how you can use to increase your bitcoin by accumulating through DCA.

May I know what trading kinds do you use until loss $16k and based on your story got loss without few minutes after trading, I don't think happen with spot trading exactly there are not any coins price drop drastically in few minutes. First your fatal mistake is trading with hype coins have up and down in short term, its good for earning faster profit but need to use stop loss feature when trading with coins have faster movement up and down. For the future less risk, use stop loss when trading in spot or future and you can reinvesting when have been in lower price.
You have wrong timing when investing assets, during with your investment Bitcoin and altcoin on higher price around 2022 before going dump drastically.

Unfortunately, this is a very expensive lesson to the OP. If I were on his shoes, it wouldn't cost me $16K to know that I am making a mistake in trading hence costing my salary monthly just to be a lesson.

@hugeblack is right, he lacks a strategy. For me $16K is a lot money, wish I could have that amount someday. I think what he is doing is that he is chasing his losses thinking he could revive his wallet in a day, but it turns out wrong. Keep in mind that trading is a waiting game and also a timing game, if you could have invested your time learning and researching about the coins you are investing if could have lessen your losses, or else you even make a profit out of it. Then wait for the perfect market, tho you can spot it but you can always have analysis and gain insight from the indicators.

A problem here is you do not know how to trade but went ahead to trade. In not saying professional traders don't lose money too, but it's obvious you didn't learn.
I'd advise you to take a step back and learn how to trade. It doesn't mean you won't trade while learning but try to have a certain amount that you use to trade.
This money should not be a huge sum, just a small sum that you can use to practice your trading.

It's safer to stick to one coin but we can't always play it safe. All you have to do is know and understand the coin you're dealing with.
Don't be enticed by the hype of different coins, a lot of other coins as just shit.

Avoid trading on altcoins that appear to have pump and dump potential - they will obviously hurt you overnight. Even if you don't lose your coins - but the drop percentage is very scary. You may forget that you have to have a trading strategy before you do it - so this is a bad experience that could teach you something useful.

Now don't get out just because you lost money - hold your coin if they have good future potential. But consider increasing them by investing in the long term rather than day trading.

What worries me, besides the huge amount of money you have lost in a single year, is that you talk about your journey and how much money you have lost, but you do not talk at all about what you have done to become a better trader, it seems to me that you just read that you could make money by trading and then you just started doing it after watching a few youtube videos, if that is the case or at least I am close in my diagnosis then you need to stop trading and start learning before things get even worse for you.

it is just too unfortunate for you not to have got what you expected to earn from trading. Moreover, you should have at least learn something about trading that would limit your loses. It is very advisable for people to learn how to trade not just glancing at trading materials and admitting of understanding what trading truly is. If you have at least learnt how to trade, this would have limited your loses or even give some good profits at the end. I hope you have learnt from your mistake and others would have to see your mistake and an opportunity to learn and not skip learning because they want to make money from trading which can always backfire.

Starting big during your learning process is quiet not good, because that’s already big for the starter.
Well, you’ve already loss the money and you can’t do anything about it anymore aside from moving on. This could be the costly lesson for you to take but you have to stand again and do better this time. If you are not doing for the past year, learn from it and understand the process before making any movement again. Trading is very risky, and this is not an easy money to get, you have to analyze and create your own strategy just to succeed in trading.

If you are not really ready and understand about trading in crypto, you should understand it first with enough knowledge. This is a provision for what you have to do. It looks like you bought when the coin was hype. The next mistake is probably because you bought into the altcoina hype. No matter how much money we spare for certain coins, if they have hype altcoins, it doesn't guarantee you will be successful. because it will be very difficult for elcoin to rise again If they are menstruation Points will end up as shit coins. In my opinion, the most appropriate thing is to just invest in Bitcoin because it will have a lower risk than the others. and of course the opportunity to rise in Erabolis will be greater and it is worth holding on to.

You can invest to as many coins that you can as long as you know their fundamentals and you understand the tokenomics of that coin, not just as a trader but also as an investor.
And with futures, it's like just for real risk takers that you can take because it is truly for gamblers. If you are a gambler and you think that you can attain the risk in the future, do it with small amounts.

The most common mistake you have done is not having a teacher, look to whatever things you wanna be today you needs a guardian who will lead you to the successful part of your trading, so your mistake again was when you didn't invest in bitcoin your attention was on altcoin and you never for any day have this feelings that your coin can turned to zero in a single minute without you knowing your stance and I must say you invested in shitcoin rather a good coin. Which likely ended up a pump and dump coin. Go have a teacher and come back again to better yourself than doing it your own ways.

Good luck!

That's quite a loss, you don't seem to have a good strategy that can be applied.
Trading Spot and Futures requires a good knowledge of trading.
If you don't know that, it's very risky.

The initial investment of $1000 is also quite large and can develop consistent trading if you do it right.
But you are interested in hype coins and when you get profits you don't sell them.

You need to have a target to sell, not just hold.
When you reinvest $6000 it becomes a big investment peak, here I know you are affected by FOMO with the hype coin.

If you enter recommended coins such as Bitcoin and ETH, I think you will still get profit in the end.
And you need to apply risk management and financial management.

You should not buy coins whose price has already increased significantly. It should be remembered that this is not the last opportunity for you to become a millionaire. Also, you should not buy one coin for your entire deposit. In this case, if you have chosen the wrong coin for investment, it will not entail the loss of the deposit.

she spent a good amount of money when she was very early in this trading market. she should test it with few bucks first up until she got a good grasp of what she's doing.
if she bought btc, i highly believe, she will still have those satoshis. and happy about it.
- for one, don't invest on alts that you have no idea of, esp those pnd alts. you will easily get rekt by these projects.
- don't buy fomo, or other hyped up projects
- stick to btc every time you are in doubt about the coin you want to buy
- don't go to futures if you have no idea about this, stick to spot trading while you are learning more about this market.
but as she walked her way on this market, hopefully, she will learn a thing or two before she totally regret of knowing about this market

You trade in the wrong coin and perhaps the confidence caused by the hype in trading is quite dangerous and we are unable to control when there is a decline in the coin. Even if you buy a coin when the price is down, if the coin does not have good fundamental levels or is only influenced by hype then it is not a good decision to get involved in it. I don't trade on the short term because I don't have any special skills, but I prefer to trade when I am truly prepared for all the possibilities that may occur. The mistake is that you don't understand trading but still insist on getting involved in it using a large budget at once and you should trade with a small budget first if you don't have the experience and skills.

The coin chosen must be able to be analyzed for its development because engaging in short-term trading is much more difficult than choosing long-term investments. If you don't have this ability, you should choose a coin that is much more fundamental for trading, so that you can avoid losses like the ones you felt at that time.

we cannot say that where is the fundamental levels of coins because you can take example from the DOT coin which was at the price of 55 in january 2021 now you can see the the price is 3 to 4 dollars.how can we know where is the dip level and where is the up level.all the movement of coins is according to bitcoin if bitcoin is up all the coin will go up if bitcoin is going down the coin will be down respectively

Well, you are a trainee you said, and you invested that amount of money? I don't want to say that you're insane, but for me, you really are. Just imagine losing that huge amount in just a short amount of time? That's ridiculous TBH.

Where did you make a mistake? I will tell 2 reasons that I think it is.
1. You invested a very large amount of money when in fact you are just starting. What is your monthly salary if I may ask OP? Newbies tend to lose money at the start of their trading journey. Well, it's understandable that you lose money since you stated that you're a newbie, but to lose that amount when you're just starting? Like I always say, "Experience really is very expensive."

2. You let your emotion decide for your trade, and because of that, you made wrong a wrong decision. You bought a coin that's pumped up in price already, and you hope that it will pump even more. I know that because I also experienced the same thing that you experienced when I was a newbie. I also bought a coin that's price has been pumped already because I think that I can get short term profits on it. Ending? I lost more than half of my money because of that decision. I let my emotion decide for my trade, and that's your problem as well.

I guess you need to lose a huge amount of money to learn something from trading. I don't want to say that you need to continue trading especially after losing that amount, but if you really want to continue trading despite what happened then it's up to you already. Good luck with your life, and I hope you will recover from these losses that you incur.

I guess you just learnt the hard lesson I try to repeat as often as possible for people in this forum. That is, trading is most likely not for you, and even if it is, trading is most likely going to cause you losses.

People complain a lot when you say this, but not a single trader who does this can show you pure 100% transparent trade history where they made money by following a particular strategy.

Put money you can afford to lose. Invest in Bitcoin and Ethereum long term (buy not trade) :)

Either courage or greed decides to start trading with very large amounts of money.
I really wonder why there are people who are so brave when in fact they should know first that the crypto market is very risky and they should learn first so as not to suffer big losses.

What you say is very true that emotions that determine trading destroy trading itself, And also because the capital is large, it makes things worse because realistically someone who trades with large capital will want large profits too.
Especially for a beginner who doesn't understand much knowledge in trading.

Experience is indeed expensive, but a big defeat will definitely affect a person's mentality in starting again, there will definitely be a feeling of fear that will haunt him in the future if he does the same thing.
However there is really no other choice but to make this a lesson and start better so that we can recover from the defeat we have suffered.

i cannot leave trading but i can change the method for my trading.now i thinking if i should invest only in bitcoin then i could not lost a huge amount.i hope i will recover it in 2 to 3 years with a positive thinking and specially changing the trading method.

You are probably trading shitcoins and taking part in pump and dump schemes. Don't fall for those telegram groups who say this coin will go up.
You have to give your time to the market and learn things. You are doing all those mistakes which have already been discussed here several time.
So you definitely need to slow down now and learn to trade before diving right in. Start learning analysis and start slow.

To be honest ... it sounds to me now like you want to lose significantly more money.
So what's your strategy that you're going to change? Maybe you could get some tips here before you put them into action.

Here as a general tip: Especially as a newcomer in the market, you should never invest real money but deal with paper trades for a long time. This way you learn a lot about yourself and your trading behavior, but you don't lose money if the trades don't go as planned.

I suspect that you have fallen into the trap of a pump-and-dump scheme from a group that will benefit from inexperienced traders like you who buy coins that are going up because they think they will still rise higher but the opposite happens, and the coins are usually with a low market capitalization or could be on the list of exchanges that will be delisted as soon as possible.
An important lesson is not to get involved in trash coins like that, because many people use these coins to pump and dump and make a profit from that. If you want to trade on altcoins it is better to have the highest trading volume on that exchange although this is not a guarantee because anything is possible in the crypto world like you experience a lot of losses even in a very short time.

There seems to be a problem with the way you handle yourself in what you are doing. You've admitted that you aren't experienced enough in trading, so how come you risk a large amount of money in it? Isn't it the right approach to start with a smaller amount and evaluate yourself first to see if you're ready to go big? It appears you might be playing with your money, if I may say. Trading is all about knowledge and experience, so starting with a significant capital for someone who isn't experienced enough is a bad move and is bound to lead to losses sooner or later.

I've also noticed that you're involved in different kinds of trades, which I think is another mistake. I mean, for a trader who isn't very knowledgeable, you should focus on simple trades only, like the classic 'buy low and sell high' technique. Once you've mastered that, then you can consider moving into something more complicated.

Upto when I will do trade as paper trade..why shouldn't invest real money when I believe my self that I can do more things in the crypto filed.the best method now in trading I think only bitcoin but I seems to wait for a long time

Buddy, nothing is good in excess. The reason for saying this, is to go overconfident is being many times face a lot of losses. A person I know is similar to your activities, he himself told me that he will gain profit by doing this trading, he does both future and spot trading with dollars buying from me. But in case of selecting coin he selects alternative coins in the hope of extra profit. Ultimately it appears that he has faced loss. Moreover, there is the issue of emotion control, so some of my friends faced about 18k and another 50k dollars in the Luna incident.
But if you can follow the strategy you are currently adopting correctly, after long term strategy you can gain a good profit. Here you must be patient and control your emotions. And of course by following a proper DCA method you can invest in Bitcoin for long term. Best of luck.

Your statement is very vague due to the poor grammar but obviously you loss your money because you keep investing on tokens that is too volatile. You are also easy to jump on pumping tokens that gives you a huge lose since you purchased at top.

Use a long time frame next time when you view the chart and never purchase token that is just recently pump(few months or weeks) because this token will surely correct due to many early traders will take profit once resistance already hit and established. Purchased only Bitcoin if you don’t want problem. I’m sure you can quickly recover from this since you have high salary judging on how you can add capital every month until you come up with that lose within a year only.

As long as the OP words are not confirmed by screenshots, it is possible to question his losses in the amount of 16 thousand dollars. It is possible that such a thing really happened in his trade, but only with a smaller amount. Or the OP trading method is comparable to a casino, when all the money is put on a new coin with increased risk.

1. Invest or trade only on coins which had been that known or having that good liquidity or volume.
2. Spot is recommended for noobs and futures is just pure gambling
3. This is where analysis would kick in, if TA's shows that you are already on possible peak or already that getting left behind, then dont make yourself FOMO
4. There's no way on telling the peak and that what makes this market unpredictable in the first place.

Experience? We are all inevitably be able to experience the same stuff since all of us did really come on being a newbie on which these mistakes or errors are really that common.The bad thing
that you have done on here is that you had really that put or make use of huge amount of capital despite of being a noob which if you had just make out or use some
small amount of money just for some training up yourself then you wont really be that losing that big but since you have done the different thing then this is where things turns
out to be shit but well this is a lesson learned for you even though it is costly but its impossible that you havent learnt something from it.

Of course - you should not give up because you are losing, but improve the strategy.
I think that's the best advice for you so far - but stay away from greed even if you're really tempted by the same thing as before.

In general, day trading is tempting because of the profit potential - but in the long term day traders find it difficult to control their emotions and psychology because of market volatility. You need to stay away from futures trading anyway - it's only good if you understand the risks and also have a budget limit. Invest instead of trade - that's advice worth considering.

It is a bit confusing, you traded crypto coins or you invested in crypto coins?  ???
They are not the same, you can't do both trading and investment with a single strategy. According to your story, I don't see certain strategies you applied on your trading/investment. You only did both of them with the same way.

Well, you said you have no teacher, which means you trade/invest from a self-taught learning. I'm just curious, how long you learned before you started that trading/investment journey? I suspect you too early decided trading/investing, you actually still didn't have sufficient knowledge.

You said, you also traded in future. I'm surprised you did future trade although you seem having not enough knowledge/experience. Although you have trade few months, I don't think you are ready for future trade. I bet most your losses come from the future trade, didn't it?  :-\

You already know that crypto trading may be extremely rewarding for anyone that attempts it and has a thorough understanding of it. That is, anything we might possibly earn here will be predicated on the concept and having a thorough comprehension of it. There are several traders, particularly newcomers to this area. They make their money based on their projections.

If the only basis is a guess and there is no reason why that is their guess, they are not traders; rather, they are gamblers who rely solely on luck. This is frequently done by persons who lack sufficient trading skills, and others continue to do so.

The reality that there lies the fundamental level of the coin and if they follow the movement of bitcoin then believe me in the next few years the price will fall much lower again and the worst case scenario may be faster as predicted. This is what is called the coin's fundamental level which is not strong enough to hold the price in the market. If you intend to hold coins other than Bitcoin, why not hold ETH, which has much more potential and has a large market capitalization value. Experience should teach you that there is no coin with much more potential than Bitcoin and choose large risks can result in unnecessary losses.

It is not a good idea to believe the hype because there are many coins that die faster than expected and is also influenced by hype which makes the price rise. Unless you intend to take risks and are able to see the opportunity to make a profit, the risk is still much greater and if you don't have good analytical skills it's best not to do it.

It seems @OP is trying to follow the hype in the market and not analyze the coin to find more information. That's the risk we get in trading if we don't learn much about trading. Many coins get a pump so people try to jump in and join in on the coin but it turns out the party is over and those people get losses.

Supposedly, with all his money, @OP could have chosen to invest in Bitcoin and not trade or invest in altcoins. That would be better. He also can analyze only a few coins to find the right one. And if he uses the DCA method, he can accumulate a lot of Bitcoin.

Hopefully, @OP can learn from his experience. He can try to find out how the coins he owns are through analysis. If each of the coins can increase, he needs to hold them and wait for them to increase. He needed to do that because if he sold it now, he would also lose money. So it's better to hold and wait for altcoins to have an altcoin season.

Your first mistake was to think that you could conquer the market without knowledge and experience, you didn't bother learning about trading first and entered the market thinking that you know everything and it's very easy to get profit in this market, and you didn't even learn from your mistakes because you should have started learning after losing the first investment instead of investing again with limited knowledge.

Your second mistake was to FOMO and buy a coin or token that has already gained significant value and you still bought that token thinking that you will get some profits and exit the market as soon as possible, everyone with less knowledge and a greedy mindset think that way and eventually lose money. FOMO means Fear Of Missing Out, which means that you panic that you have missed out on profits and then you buy that asset quickly to enter the league of those who are profiting from it but you are actually late and the party is already over.

I don't fully understand your situation, you started with 1k USD and kept adding more money up to 6k USD. But how did you manage to lose 16k USD? Maybe you are counting from the ATH of prices and not from the money you invested? There is a big difference between realized and unrealized wins and losses. I wouldn't be comparing my actual wins against the highest possible winning if i had sold at the right time. The same goes for losses, it's not helpful to assume the optimal decision making after events occurred. There will always be better decision we could have made and thinking about them is only bringing us down. Also buying a coin that went from less than 1 USD to 11 or 14 USD seems like a bad trade. We should be buying coins that are cheap and before they become popular, otherwise there is no upside potential left to make money.

The first mistake you make is that you start trading without learning and gaining experience, which is definitely a disadvantage for any newbie. The most important mistake you made is when you bought a $0.92 coin at $11, because it went up almost 11 times and was sure to go back.Those who do not have a teacher, they do harm by making such mistakes .Trading is very difficult. You started with a very simple understanding, from which your seriousness can be estimated.

One should never invest in a single coin, but always diversify one's investment into different coins. The risks of loss in spot trading are always low, because when the price of a coin falls, there is no fear that your entire capital will be zero. Futures trading is very risky, there can be a huge profit and your capital can be zero. However, you need to learn a lot in the crypto currency market because it will be very difficult to trade when you don't fully understand the crypto market.

Come to think that trading for 1 year? It is really just that impossible that you arent really that learning on a specific period of time.Yes, 1 year might not really be enough but i would say that its impossible that you cant really be able to point out with those mistakes that you've been doing along the way. You wont really be that so dumb on not to notice with those errors and mistakes  that you have done with that specific period of time but instead you had tolerated out on being like that. Come to think that even on first month try then you would really be able to see whether you are doing something good or not basing up with your montly gain or losses.If you do find out to be negative then reassessing those trades back and look at on what wrong thing that you have done.

It is really just that there are really those people who are able to assess early and there are ones who do tolerate those losses until they would really be busting up everything.
There really just those people who are really that could be making out those reactions while its still early and there are ones who do stop on the time that
they had been wrecked out.

How do you expect that you will make a profit in trading without having a teacher or a mentor, all this things is something we know quite well that come as result of some people backing up to trading, when they entered trading without having the skill.

It's very obvious that whosoever that enters into trading without understanding the protocols and procedures of trading should be done and well understood before joining trading, using a car drivers as illustrations, when you don't know how to drive a car and you have the pre-knowledged of how to drive a car, you move the car because of the ideas you have in driving a car, but you can't drive a highway journey, so when you insist to drive a high way their is every tendency that the car most collide

So when your knowledge is not sufficient in trading their is every tendency that if you use up 1000k to trade you might lose all before the months runs out, so it's better to learn and comprehend the strategic point of trading before joining trading otherwise or else you will lose your capitals.

A trading teacher or mentor is certainly useful - but a trader doesn't need one if they have a desire to learn the basics of how the markets work self-taught.

Sometimes the best teacher or mentor before you succeed is your own failure. That could be an expensive experience for the OP – but I hope she doesn't change her plans after this.

OP needs to change strategy to make a profit - but he needs to avoid intending to recover his losses quickly after this incident. He needs to learn and improve his understanding - but I'm very confident he could have avoided major losses had he chosen long-term investments instead of trading.

It is possible that you can make a trading strategy even without a mentor but it takes a lot of time to do it and you may lose a lot before you become profitable. So for me, it is not advisable to join a mentorship. If you join mentorship, they will teach you not only trading strategy but also psychology which is very important in trading so that we know what we should watch out for before we trade.

If you are experiencing a big loss, don't re-enter. Just admit your defeat and forgive yourself. If you come back in with bad psychology, believe me, you are gambling.

drill into yourself that TA is not 100 correct. A trader's victory is adhering to the trading plan. money management and trading psychology must be studied. patience is the key.
First analyze market conditions before analyzing technically. What are the issues today, and what monetary policies are being carried out by developed countries and others. then you do technical analysis. not technical first or even foremost. You can't fight the market.
If the market is in a bad condition, don't force it.

Don't be afraid to learn, because a pro has experienced many failures.

Trading without a mentor may be a steep learning curve, and although developing a strategy on your own is doable, it frequently comes at the expense of big losses. Mentorship may give vital insights not just into trading tactics but also into trading psychology, which is critical. Understanding the psychological components allows you to avoid emotional mistakes, manage impulsive actions, and make better informed decisions regarding market movements.

For points 1 and 3, 4 it is one unit, indeed everyone has different views in determining what coins to invest in, there is no problem investing in several coins other than BTC. If I had that much funds I would do it in just one coin, namely Bitcoin. Increases and decreases have become commonplace in the investment world, prices are very volatile. You need to remember that in investing, don't think about getting rich quickly or instantly. Everything needs a process, learn like rich people like M Saylor, they continue to accumulate their bitcoins. Regardless of the current price, he is sure that this asset will be bright in the future.

For point 2, if you have tried this over and over again, I really regret your actions, even someone who is skilled can lose too. Have you studied it before, if I were you I would never try it, the risks are very, very big.

Learn from your failures, this will make you survive in the following year, this failure is your best teacher.

This is not a wise strategy. Trading is not a piece of cake, and you have to learn technical and analytical skills beforehand to increase your chances of making a profit. Most retail investors are making the same mistake after their investment; if the price dips, they start panicking and sell their holdings. It is better to plan before investment and not invest in a shit coin as the chances of losing money are more in these coins. Only invest/ trade in well-known coins like BTC, ETH, etc. Once you have invested, try to hold for at least a few years, and do not go for a short-term profit or future trading.

Firstly, as a beginner who knows nothing about trading and is beginning to learn how to trade, why will you start trading with $1k? It's totally a wrong idea. You should start with a small amount. From your post, you said you had no teacher, so nobody to guide you. Then you should have just started with a small amount, you should have just deposited like $10–$50 and be using it to practice. Even professional traders do lose, if you're just starting and don't know anything about trading, you will lose almost everything you deposited to start with.

You should have just taken a break when the loss was too much. You should have just stopped trading and done more research on why you were losing, then try to improve your strategy. If you know anyone to be a good trader, you can just seek help from the person to put you through.

From your post, it shows that you were trading altcoins, which is very risky. If you focused on bitcoin, I'm sure you wouldn't have lost that amount of money. You were looking for quick money, which is why you FOMO, a coin that pumped from $0.92 to $14, then dropped to $11, and just because of the little drop, you decided to jump into it. You should have known that coins like this are pump and dump coins, and since the coin has already pumped,  the next thing is for it to dump, and it was dumped on you.

Investing in one coin is not bad, but it should be bitcoin. You invested in an altcoin (pump and dump coin), and that was the first mistake you made.

As a beginner, you shouldn't even go close to future trading, you can lose all the money you are using to trade within a very short period of time.

You went to buy a coin from the top instead of from the bottom. Next time, you shouldn't buy a coin that has already been pumped, because people who pumped it will dump it on people like you who are beginners.

Trading is actually a risky practice but we should not completely discard it just because it is risky. Trading is one aspect of crypto currency and should not be ignored. It's actually exciting and also profitable when you have what it takes to become a trader because it requires a lot of time to learn, energy and also focus. To majority of us who find it too risky will prefer to be careful with it while those who find it interesting and profitable will be excited to trade. So, I think it depends on individual preference and circumstances.

Altcoins are also part of crypto currency, though it is more riskier compare to bitcoin but when it comes to trading, altcoins are the best to trade if you have the experience. Bitcoin is very good and advisable for holding and not trading because it's not profitable like altcoins in term of trading.

No its not if you are really that serious or having that sufficient time on researching things up, it might not that simple but its not something that hard yet everything could really searched on the internet on which means
that you wont really be needing that a mentor since everything could really be checked and would really be learned and the rest of learning would really be gained through real experience on which this is something
that a very normal phase or path to take. Just like the rest been saying that the only mistake on which OP did make is that he didnt make out any adjustments on the time that he do suffer losses on which it is really that impossible he wasnt been able to realize on what are the wrong things that he had done on several or couple of months. On the time that you would really be making mistakes then it would really be just normal
that you would be making adjustments.

1 year time is really that sufficient on making yourself that learn and find out on what are the wrong things that you have been doing. The amount had loss is really that
huge and it isnt something that not every trader could really afford on losing so and this is why it would really be that just wise that you should adapt
accordingly or making adjustments if needed.

He didn't mentioned if what coin he used but maybe he lacked in patience and sell at a loss because he said the coin he picked dumps right after a dump. Coins like this are not always the shit coins but it can also happen to the good coins especially now that we are still in the bear season.

In trading, I think it is possible to control the coin when it's declining but as long as you didn't set a stop loss. Whether we are trading for short or long term, a special skill is still needed because trading is not easy. He didn't use large budget at once but he only start with 1k dollars. The amount was still huge for the most of us poor but maybe not really for him knowing that he is only a trainee that time.

If you are just starting your trading journey, then you did not need to trade such large amounts. Obviously, at first you will make mistakes, but your mistakes are simply catastrophic, you decided to buy a token that showed an increase from $0.9 to $11, what did you expect in such a transaction? After such growth, it was obvious that the price would fall. In this case, all that remains is to become a holder with the hope that the price will someday rise again, but this can be waited for years and this still may not happen. But because you want to do trading, then waiting is not an option. Another huge mistake is trading without a stop loss, you could save most of your deposit if you used a stop, if you don't know what it is, you should look into it. If you still want to continue trading, then enter a small deposit and stay on it until you learn how to make a profit, you shouldn’t even think about depositing a large amount for trading, you will still lose it.

You mentioned about using your salary to invest in these certain coins, right? But you failed to mention how much percentage of the salary that you have put in to invest. Maybe you need to start learning how to manage your money well like only putting an amount that you can afford to lose.

Greed got the best of you. I know how it feels to lose such big amounts like that in trading especially if you are going all-in for that. Managing your risks is very important and you should always acknowledge the fact that the cryptocurrency market is unpredictable and it can go up or down in seconds without warning.

Your first mistake is you jump right into threading without learning anything. You thought you could learn it as you move forward, but trading does not work like that. Your plan would have worked if only you have spent less. You should have started with a low amount just for the experience and the knowledge. You need a deep understanding of the market before you can start trading. $1,000 is a huge amount for a beginner.

Second and most important thing that you have missed out on is you should only invest what you can afford to lose. You said you put a certain amount of your income into investment. But I don't think those amount were thing that you could afford to lose. If that was the case you wouldn't have regretted this.

As a newbie, I will always suggest trading with coins that are well reportable and has a great history. Although past performance does not determine future outcome but it is a good practice to go with those reputable coins. Altcoin market movement are mostly determined by hype/trend/sentiments. If you don't have understanding on that kind of thing then you should stay away from them. Also centralized coins should never be considered the first choice.

And lastly, you put a huge amount knowing you have made multiple losses in the past. The outcomes weren't good and yet you have decided to put that much money into trading. Never put all of your eggs in one basket.

So the summary of your mistakes is this. Not having enough knowledge, not investing what you can afford to lose, not choosing the right coin for trading, and putting a huge amount all in one go without any concern.
If you work on these mistakes, I think you can become a better trader in the future. Learn first, gain knowledge then apply that knowledge in order to gain experience. And with that experience you can gain more knowledge and the cycle continues.

The first and biggest mistake is that you invest all your capital at once. This carries a huge risk and you have seen the results yourself through your huge loss.

It is always better to divide your capital into three parts: one part to buy the coin (it is preferable to buy more than one coin) at different price levels (not all at once), another part that you leave in dollars (to buy if the coin decreases more and more), and the last part Precaution: Do not use it except in cases of extreme necessity.

I am not saying that this strategy completely protects you from loss, but at least it reduces losses to a minimum.

It is a pity that you are too aggressive to lose a lot of dollars, you also enter at once even though it is in the training period which can be said to be a beginner, maybe you are too careless and greedy if big capital can be big profits.

To be honest, I have experienced losses and this is the first experience for the first time when trying to trade, it is not unusual at the beginning we will experience losses but when you feel that you should at least be able to change the mindset of how trading does not continue to lose, of course skills are needed but sometimes it is still very difficult if you do not have a safe risk management.

Yup if you are not good at trading you will lose, but if you HODL bitcoin you will never lose if you don't sell it.

Timing to take profit is another thing you need to learn if you aspire to be a trader. Sorry to say that crypto capture your attention during the bull run, if you borded tbe trading plane during the bear market, you will have learnt lot of lesson and master how to exit the market, and even though loss can't be negligible in crypto market, it will be fair, wouldn't top to that $16k

Another reason why you lost such amount is because while you were training, you were also risking, you don't trade with real money when you are still a newbie to trading, you should have use virtual money to test the waters and see if you are equip and ready to take the market bull by the horn but unfortunately, it ended badly.

I want to correct some points you highlighted in reference to one of the coin you bought at $0.9, went up to $15 and crash back again. In everything you do in trading altcoins, as soon as you make profits, sell them. There is no good thing in holding altcoins because the way they give quick profits is the same way they crash downward if investors were to sell.

Avoid futures if you don't understand trading fully, if altcoins dip and dip, be careful of how you buy them, some may never recover again. The next time you want to trade, ask questions also, it clear doubts in the minds like the way you are sharing now.

In trading we must be able to place targets and stop losses logically, from which we monitor the market to implement the planned strategy. Indeed, in a very fluctuating market, accuracy and good intuition are needed in dealing with the market, so that we can determine whether we should make a cut loss or not. If we want to trade short term, I think using Bitcoin is enough, but if we want to invest long term , I think asset diversification is a better choice

I think Bitcoin is great for both short term and long term investment, because Bitcoin is the most reliable of all the crypto currency markets. I have been trading in different crypto currencies for a long time, but any crypto currency, even if it is the best crypto currency in the market, has a high risk of loss.

We often trade in crypto currencies that have high volatility so that we get a good profit, but often the same volatility becomes a big loss for us. My experience till date has taught me that whether long term investment or short term trading Bitcoin is the best. Where our assets are the most secure, even if their value falls, we do not worry about our assets.

Frist of all you have to add some strategy in your trading.As many types of analysis are done in trading but by keeping in mind fundamental and technical analysis, We can avoid the risk  of trading.We should never make our investment in a single coin because  is the risk in trading. If we make our investment in a single coin, we cannot control the risk.

Where OP's mistake lies in not choosing Bitcoin. If I'm wrong about what the OP meant, I'd say that he didn't explain what coins he was losing money on.
Long term investments have more benefits than short term investments. I don't recommend people to trade on Bitcoin, but I rather recommend people to invest in Bitcoin.

Long-term investors can make any decision according to their wishes. But waiting until it reaches the highest price is a good decision for long-term holders. Different from those who choose short term.

To be perfectly honest it feels like this was just someone who didn't know how to trade and insisted on making the lost money back and consistently made even more mistakes.

If you end up buying something and it goes down, selling something and it keeps going up, those are indications that you are making a bad mistake and you do not know how to trade and you should not be spending money on it.

What can you do? Learn trading better, just google as simple as "learn how to trade crypto" and there will be a billion results, start from the top and learn from different places, also you can go to youtube and write the same thing and there will be another billion results there too, sort it based on highest viewed and start watching them too.

At some point, you will realize that you learned a lot of things that you did not know, it would be a lot cheaper lesson than losing 16k as well, they are mostly free and will give you a great return.

When you feel like you studied enough, start with something quite small, like for example 100 dollars, and see if you are making good decisions, even without that, just write down the price of something you wanted to buy, and then come back and see if it went up or not. Without learning, you are just risking your money based on your assumptions that's it.

It is obvious that you have enough money if you are going to gamble with $1000 without even knowing what exactly you are going to do with that money. Without any knowledge, plan and strategy, that money was lost the moment it was sent.


When you trade with shitcoins, things like that happen, so even though a lot of money was lost completely pointlessly, did you learn something from all of that?


The problem is that you are doing something that you obviously have no idea about, and the only thing you are successful in is constantly losing money. If I were you, I would delete that app and refrain from any similar investments until I learn some trading basics. Then I would start with very small amounts ($50 - $100) and try to learn something even if I still have losses.

In the end, you need to accept that crypto trading is not for everyone, and that statistics say that only about 5% of people are successful in it.

More beginners like Op, don't know much about how to trade with strategies or even if they want to invest long term, they still need direction in choosing assets and important warnings not to panic when in the short term something happens that is not in accordance with the investment plan.
but if within 1 year he loses his money in the trading process, he should have learned a lesson. When losses continue to be experienced, it means that there is something wrong with his understanding of trading.

Everyone's interests will be different. There are those who prefer long-term investments and there are also those who prefer trading. At least for a beginner who wants to start, he must have someone who can provide explanations and knowledge to him.

I'm also curious about how much of the $6000 the OP used for spot trading and how much of it was used for futures trading. If the OP buys coins on the spot and then the price of the coins decreases then the OP should have the control to sell them immediately, but if the price has fallen far, I have no other words other than hold and hope that the coins will rise again someday, that is if the coins are sold. buy a good OP and enter the top 50 market cap list. But I'm not so sure about shitcoins.

The Futures market is a cruel market if we trade without stop loss and take profit. No matter how much money we make, if we are too brave to use large margins and leverage, it will have a bad impact if our position is in the opposite direction to the market direction.

The best decision is investment compared to trading. OP also said that he had just started trading, so this was purely OP's mistake in choosing to place that much money in trading instead of investing.

Without knowledge and direction from people who already have experience in the investment field, it is better for us not to try to do it because it will cause us losses in investing and if we have the desire to invest, I think we need to seek knowledge about investment from those who have have experience in this field. You are right, there are two things that can be done in investing, some do it long term or short term, but in my opinion, if we just try it, it would be better if we just try one of them so that it can be easily understood after understanding it, then we will You can try other ways to get profit.

It's true that everyone's interests are different. 1 year to learn trading is enough time even if you experience losses in 1 year. If after 1 year you still cannot implement strategic management, it means that you should not continue trading because it is not suitable and switch to long-term investment by choosing Bitcoin.
Investing in Bitcoin is more convenient for beginners. The level of complexity is more controlled. Buy when the price is low and hold until the price increases greater than the purchase price.

Oh..he Mr. OP, the strategies you adopted were completely wrong due to which you have suffered constant losses and lost money. Since you did not take trading advice from any wise teacher, you have to suffer this situation. It would have been better for you to have known things earlier when you first thought of investing. But instead of doing that, you start trading again without realizing it and end up losing money. You mentioned here that with the $6000 you purchased an Altcoin token, that too during peak pumping. You need to know these things first that the riskiest investment is altcoins, which can make you lose money quickly. When you bought this coin it was worth $11 dollars which seems to be the maximum pump and when it was dumped it dropped to $2 dollars which really dropped the collapse in your wallet. So you should avoid day trading, I hate this kind of trading at all, but investing for long term is the most preferred for me, and there is security of money to be gained.

It depends on what kind of trading you want to get involved because you don’t need that kind of technical knowledge if you will just invest on spot market and don’t sold at loss because you can hold your token until the price pump or recover in an event that it suddenly dump once you purchased.

The problem on newbie was they are too greedy and gullible to try risky sector of crypto trading such as futures trading. Crypto is already too volatile in nature and adding leverage on it will surely a killer. Exchange that offers a leverage higher than x20 is already unethical because they are allowing their customers to gamble without knowing the real danger of high leverage.

Trading is a very risky platform as money can be easily earned and lost easily. You were relatively new there so you lacked experience. But there is no way to say that you could have profited there even with experience. Essentially you took a trade in a coin at a time when that coin was at its highest price. When the market starts to turn a bit bearish your coin price also drops very quickly. Any investment based on hype is more likely to lose. Also you kept your investment in only one basket which was also a big mistake. Investing in a diversified portfolio reduces the risk of losing quickly. Again, if you try to buy any coin from the dip, it is not possible because the market is bullish at that time and you have to wait for a long time to get the dip. But you have learned a good lesson from your mistakes. Hopefully in the future you will definitely be able to take better judgment and take trades before taking them.

The mistake I have clearly seen was, you are driven easily by the hype.

That $0.92 to $14 price increase is a situation where you should be vigilant especially if we are talking about altcoin. You got deceived by what you saw, a whopping 1400% increase and I understand the feeling. At that time, you are now under FOMO and still buy that coin at its hype price thinking you will be able to ride that trend.

Anyway, it's fine to feel egrettable about that decision. Losing experience is part of trading. What you should do now is learn from that experience and come back to trading as a more knowledgeable and vigilant trader. You should be serious from now on as you are spending decent money on the process. The same as having a business, you shouldn't allow your capital to be wrecked as much as possible.

The issue for the OP is the high amount of money they have lost already, one widely known fact is that newbies lose money when they begin to trade, and if they had known this then they could have reduced the amount of money they invested and test the waters this way, experiment what works for them or not and finally once they get to know themselves and the markets they could take better decisions when faced with a difficult choice, but instead they used a lot of money from the beginning and now we are seeing the disastrous results this brought them.

In my opinion, investment is definitely easier than trading, but not so easy that even a newbie can invest easily. Trading is a tough job and requires a lot of experience and skill, while investing also requires knowledge. Market volatility bear, season bull season, previous record and history of any coin, current season information about all these is very important. Only then can we be a good investor and make a profitable investment.

There are also people who bought Solana at $200 and bought Dot Coin at $40.Now you can see the current price of both where they are trading. Similarly, you will find many investors who bought Bitcoin around $50,000 and then the price of Bitcoin has dropped to $15,000.These will surely be people who don't know about investments and invest without knowledge and information after watching the price of Bitcoin decrease.

Lack of understanding about trading is the main reason why the OP lost that amount of money. Before you start any business or investment, don’t just rush and invest a large amount in it. If you start trading, there are high chances of you losing all your money in the process of learning. That’s why it’s better to just start with a small amount of money to learn and to get the strategy that will work for you before increasing the amount that you will be using to trade. When increasing the amount you will be using to trade, it should be gradually. Don’t think you already know how to trade and you will increase your money instantly, you have to be increasing your money gradually, trading is a continuous process and you will keep on learning always.

If there is one part about crypto trading most users don't really talk about is the Altcoin market manipulation!!!

The fact that Altcoins have very little liquidation on most of these exchanges we know, makes them easy to manipulate if you own a lion's share of coins...and knowing this information should have saved you and made you some profits!! Anyway , incase  you still trading
alts  you want to be taking out profits at any given chase unless it's Bitcoin you can hold a winning trade till take profit.

When some high-ranking members in the forum are advising newbies to stay away from trading, they have a reason for that, but some newbies are feeling themselves with little knowledge; they just gather and go ahead and involve themselves in trading, which is not supposed to be the case. If someone wants to be a successful trader, they need a proper understanding of trading before they should involve themselves in trading. If someone who is an experienced trader can also lose some time in trading despite their knowledge of trading, a newbie should know that trading is very hard and requires good knowledge.
 
Op I believe that you lost money in trading because you lack proper knowledge about trading because the way you try to explain yourself seriously shows you just buy the coin because you feel that the coin will do well without any technical analysis before buying, and they don't trade like that because you easily fall into the trap of scam coins, which are pump and dump. And again, as new people in trading, they don't need to use a huge amount of money for trading, they need to start with a small amount of money, and from there, you can gradually increase the amount when they notice they are making profits from their trading.

I Understood Very Well, Our Ancestors Have a Saying: If You Are Patient, You Can Succeed, Dear Users, Do Not Forget This Word. Even if you lose 15 K today, do not sell because it may exceed this level in the future. This is my advice to you

You lost $16,000 last year because of your mistake. You should have consulted an experienced teacher before investing or trading so that he would have given you good advice and you would not have lost so much if you took that advice. But you didn't take advice from a good trader and later you lost so much money in future trading or spot trading. You should first know about the market and how you can make a profit if you invest. You lost because you went into trading without knowing about the market, it's mainly your fault because the market often gets volatile due to which people lose their money. That's why you need to know about the volatility so that you don't stop trading and face losses during those times. But you didn't take any such education and you didn't take anyone's advice which is why you got into this situation. But if you were doing spot training it might give you some hope or if you were investing in bitcoins it would give you the most profit. That's why if you want to trade or invest later on, make sure to invest in Bitcoin for a long period of time knowing that it will give you maximum returns.

Your first mistake is that you initiate trading without knowledge which means that you did not understand about any coin and consider every coin as a beneficial coin to give you profit. Other mistake is that you Continuesly trading after your loss, I think if you face loss for certain times then you should stop your trading that time and try to evaluate the reason behind your loss which you did not evaluate.
If you are not good in trading then don't waste your time and money in trading but save your money through investment which will maximise your money as well as reduces your loss. Also remember that if you are spending lots of money on other useless coins then beside it you can invest large sum at once in bitcoin which can be beneficial for you.

So there's what have you done and these are my comments basing up on the number.

1. Doesnt need to go multiple if one is really just that enough. Dont try to catch up everything.
2. Futures is not recommendable, it is really that gambling like
3. Buy high sell low, eh?
4. Profits is profits, this what matter most.

Dealing up with this unpredictable market would really be always be ending up with unpredictable results. Outcomes could really be that different because there's no way that
we could be able to determine on where things could be going. This is why losses are indeed inevitable and there's no way that you could really be able to tell whether you would really be
succeeding into this career or not.

16k loss in a year is really that big and not something that i could really afford  to lose but since its their then there's no turning back.
People would really be losing money on the time that they are starting which its a common newbie situation but later on then having  those mistakes do make out
learnings on which it would really be something that will really be useful for you into your further trades that would happen in the future.

The stress and pressure caused by both are also different. Trading has a higher level of stress and pressure because this is influenced by market price volatility at that time as well as several take profit and loss targets during the trading period (short term). Investment is clearly different because the goal is long term.

As you explained, although investing is relatively easy, it carries big risks and tends to take up time. To achieve satisfactory results we are also required to master basic things regarding market analysis and sentiment. If you invest haphazardly, the profits generated and the time required will be a little unequal. However, if we master the basics of analysis, perhaps the investment time and funds used can provide maximum and satisfying results. And events like buying at peak prices as you say will not happen.

Before we start trading, it would be better if we start with a little thought because if we trade with a wrong decision, we will lose. But for trading, we must have a good idea in trading communication, then we can succeed in trading. However, during our trading, some  Trading should be done according to the rules. When there is a loss, then you should stop trading for some time and understand the situation of the market.

Well , it might be the time to actually admit trading is not for you right ? I mean , if you had those kind of money to trade and assume to fact that you can lose them , it's okay ...but if you don't , I think it's time to stop and your aggressive trading and simply transit towards a hodler as I'm sure you will be a lot more happier in the end. Personally , I never was a good trader and if you're not a major player in crypto space , the market will instantly eat you and your money on same time.  ;D

But we know that being having that too long "PATIENCE" or something that we could say that soo much in that sense then it would really be having its cons or disadvantage on which you would really eventually missing out tons of opportunities on which you could really be able to miss out if you wont really be that wise on knowing on when would really be the best time to sell.There are indeed situations on which you would really be needing to take up such action but if you are really that going for long term or lets say for some decade before on making out such decision then it would really be your choice.It would really be requiring that extreme dedication and patience for you to be able to do so. Not all would really be having on the same level when it comes to this manner.

Learning from your mistakes would really be the key on making yourself way more better. It might sounds hard but its not impossible. There are really just those losses or misakes which is really that severe
and really that hard to move on and you would be always keep on thinking on what you have done but well whats done is done and there's no way that it could really be taken back.
It is really just that you would really be needing to move on and move forward.

Seems just you made the wrong timing of your position, even though you are a beginner you know and understand if the market that time is quite high or low, so you can possibly make a good strategy to entering and exit, and another thing is don't make alot of expenses too much you don't need to give all of your salaries, seems like its okay with you to lose your income just to have a trade. Looking forward into it, this can be a treated as an expensive learning or mistake, by that i guess you learn alot with the market possible movement so you could avoid now the same mistake from the last year youve committed. Or else why not make an investment other than crypto and if you succeed use those good cashflow for your crypto.

While I think this is the correct path for the OP to take as the level of difficulty is way lower, I doubt the OP will listen to your advice, as once a person has lost that much money they will be unable to stop thinking about it and they will want to recover it, this is a process we see in every single activity in which people can lose money, including gambling, and despite how much it is known about this process, due to human nature this keeps happening, producing greater and greater losses for those that choose to follow this path.

Don't be like that if you're a starter trader. You can start with a small amount for your trades just to get familiarized with how it goes. Putting $1k already as you start is like a pro move but do you think that you can burn that much money just for the lessons? It is better to get discouraged for the newbies to start with huge money as you trade but if that's what you can afford to lose, it's not my money to touch it but just saying that start with little trades first before getting greedy with your future trades.

You've made many mistakes. First, you trade without enough knowledge. I get it. You don't have someone to teach you or an expert trader to teach you. So what you should do is work hard to gather a lot of knowledge and experience in trading, but you choose the shortcut, which is to keep trading even without the right amount of necessary tools. Second, you keep on trading even if you notice you are keeping on losing, which is an indicator that you chase your losses, which is pretty bad. Third, the amount of money you trade is huge, which is too risky. Remember, too much risk equals a huge reward, just as too much risk can result in a big loss. You also don't focus on one coin only, which you should do so that you will become familiar with the coin and own it. and also buying in a late trade, meaning you ingage in a trade where the profit potential is past, which is not a good move for a trader. I hope you've learned your lesson, but you've learned it in a hard way.

I can't understand how people trade without any knowledge, it's an illogical thing in my opinion, not only in trading but everything we do must of course be based on knowledge, regardless of the reason, but in my opinion there are so many places nowadays so we can learn to gain knowledge before we trade.

For investment choices, in my opinion, everyone has their own targets and whether they want to have many choices or just one type, there is no difference in my opinion because that is not something that minimizes risk. In fact, before we choose an investment option, the most important thing is knowledge about investment. what we will do is the most important.

If I consider what you do with your crypto trading activities, based on the data you submit below.

For me it's a common thing to do, maybe I use the method like you did above, I'm sure of that.

However, the difference is the type of crypto you choose in the trading method, I am very sure that if you choose Bitcoin, you will not lose, My experience is that when I paid attention to the crypto market in the last two years and considered several types of coins that were often removed on various existing exchanges, including Binance, at that time I came to the conclusion: I think taking other coins besides Bitcoin is high risk, for that reason I concluded that Bitcoin is one of the best choices for me in trading or investing, nothing else.

The very first thing that a newbie needs to understand is that they need to gain enough knowledge about the market, trading practices and techniques, types of analysis, and anything about the coins and tokens that they are going to trade. Once they do that, they should know that futures trading isn't for them since it requires even more extensive knowledge and experience and that experience can only come if you spend some time in the market doing other trades like just buying and selling after a short time intervals so that you can have an idea about how the market and different coins move.

You are absolutely right that when a person is in the learning phase, they shouldn't use a very high amount for their trades but they should only use small amounts for each trade so that even if they fail some trades, they won't lose a lot of money and the amount lost should be recoverable through later trades.

The question is:
When you have started losing money on Altcoins, why do you continue trading in these Altcoins? Moreover, you do it in altcoins which I think are new altcoins and don't have good potential. What's more, you trade on the Future market. This is an initial mistake as a beginner doing future trading. This is very high risk and is not recommended for beginners before they really understand it first by learning spot analysis.

Actually, if it's on the spot, as long as the coins you take are coins that basically have a future, this won't be a problem when the value decreases. However, if they are shitcoins, then be prepared to go to zero. It's better if you start again, do it only in Bitcoin and make sure to wait until the bullish era comes. There's a big chance you can get some profits. Even though it might not be as tempting as the hyped altcoins, it's much better with lower risks compared to gambling.

If you are an investor, investing in only bitcoin is what I mostly recommend. Investing in bitcoin is less risky if you are holding it for a long time, and you don't need to diversify your portfolio. But I know some people just prefer investing in altcoins, which I don't really see as a nice idea. If you go all in with an altcoin, then you are taking unnecessary risk because if the altcoin crashes, then all your money is going down with it. But if you diversify your portfolio, if some fails you, then you might be lucky to recover from others.

Stop loss is really important, actually, I don't use it because I am always online monitoring my trade, but I do recommend newbies to always make use of it in case the market goes against them, it's going to cut their losses, but some newbies don't even know that stop loss exists, all they want is to start trading and make money. They don't know the basic things that they are supposed to know before trading.

For both long-term and short-term investments, bitcoin is still the best. Don't be deceived by what you hear people say. Investing in bitcoin will give you peace of mind.

There are lots of mistakes we can make as a trader but the most important thing we need to ensure is not be too greed even when we don't have a solid knowledge or experience about the market. Crypto market is very risky and we need to think very wise when we want to make decisions. A good decision and plans couples with strategy is what make us a good trade. If we don't have a trading plan or strategy, we can keep making the same mistakes over and over again without understanding the reasons why we keep losing in the market.

Many people, who think that they can make a lot of money easily by trading especially in the cryptocurrency markets are pumped up by the ridiculous motivational videos shared on Instagram and think that they are experts in everything usually start trading in the cryptocurrency markets without any experience. Since there are more earning chances and opportunities in the cryptocurrency markets compared to other financial markets many people with no experience generally trade inexperiencedly imagining that they will get rich as quickly as possible.

It should never be forgotten that having knowledge and experience about the preferred investment method is as important as making a good choice in making money by investing. For this reason, the most important criterion when investing is to learn from the experiences of others and to analyze our own mistakes well and improve ourselves as a result of these experiences.

If you were a wise trader you would not have made such mistakes. Because you traded with a lot of money without realizing and lost it was because of your mistake. First of all, since you lost $16000 dollars, it is a lot of money, if you had better understood trading, you could have made a profit and not lost money. Moreover, while trading you must take the advice of an experienced person so that you can make profit and not face loss. If you had started from the beginning with a small amount of money, you might not have faced such a huge loss. You should start trading with $1000 and gradually learn you trading skills. If you had been trading this way from the beginning, you might not have faced such huge losses. It's really sad that you started training with a huge amount of money and lost all your money very quickly, but this will always discourage you from trading.

Sounds like to me that you went in and tried to trade without knowing what you are doing. And the worst part is that you did it with real money.

For the next time, practice trading on testnets or by buying/selling imaginary coins. Once you have gauged how good your trading strategy is, you can move on to using real money to execute said strategy.

But do not worry. Most of us traders have lost much more money than that before we learned how to trade on a profit. You should see your loss as a learning fee.

That being said, hodling Bitcoin is the best strategy. Altcoins and trading strategies will never have more profit than simply hodling Bitcoin for many years. And if you take a look at the year chart, you will see that.

I am skeptical about any advertising that I see regarding trading, it is obvious that this is just a bait for gullible people who do not understand how everything works. It is enough to start trading to see how things really are, and most importantly, to understand whether this activity is suitable for you, whether you can make money from it or not. I am against a beginner starting to trade large sums of money, without experience it will be very difficult to earn something, or at least to keep what you came into trading with, so it would be worth starting trading with a small amount, which he will most likely lose, but perhaps he will be able to gain some experience or skills that will help him achieve good results in the future.

I definitely agree, in general many people who have just started trading in financial markets think that starting with a high budget is a professional move even though they don't have any knowledge or experience yet. This is actually a huge mistake because a beginner generally loses money during the learning and experience phase. I always state this;

An individual who has just started trading in financial markets should first gain experience and have an idea about the process with a low budget. Dealing with all capital in an inexperienced and uninformed manner only results in financial damage. Trading with the full budget always helps to achieve more efficient capital control after gaining experience in the process.

People would really be only minding on trying to go back into the drawing board and realize the things on what they have done, this is where regret would kicks in and would really be having that kind of thinking that they have done a huge mistake because they've rushed in on doing trading without that proper analysis and knowledge about it but instead they have done it with lacking awareness and with those basics until
it comes that their trading results or outcomes turns out to be shit. This is why it would really be that always recommendable on that when you are just starting completely new into a certain thing then it would really be just that wise or normal that you should be having that kind of approach which you should need to learn up things first.

You cant really just dive in without having those preparations because dealing up with the market or making up some trades would really be needing up that skills
and awareness on how this market moves. You cant really just make out some trades and doesnt really know on what you would gonna do next.

Definitely, it would be beneficial to avoid all kinds of advertisements we see regarding trading because usually the target of such advertisements are inexperienced people and the only purpose of such advertisements is to exploit the person's money. The best option to gain trading experience is to enter the financial markets using a low budget and gain the best possible experience in this process. Especially a beginner has to analyze how the process works and how the financial markets move, with a low budget as he/she will be more prone to lose money in general. This is because beginners generally have a very high probability of losing.

Of course, individuals with good trading experience don't always win, they also lose money but it is also clearly known that experienced individuals make fewer mistakes. It is important to remember that experience and knowledge are the two most important criteria that will be needed in financial markets. Knowledge is best learned by reading and analyzing other people's experiences and experience is shaped by being able to analyze one's own mistakes in the best way possible.

Potential loss would really be entirely be depending on how much capital that you had been able to put on, which means that amount could really be only determined on how deep your pocket is.
1 year would be neither be enough or not because learning process and adaptation or self learn will entirely be depending on how well a certain person do adapt on certain conditions.

Losing potential would really be that huge if you are careless but we know that losing is really that inevitable. Learning process would really be harsh and something that you cant really be able to assure
whether you would really be that able to succeed or not. It would really be that entirely be depending on how well you would be dealing with the market.

If you have lost that much for a year, then try to minimize it on next year. It is really just that impossible that you dont really be able to
learn up something with that kind of experience that you had attained. Its a matter of adaptation and adjustments which it is really that normal that
you would be needing on doing so for you to be able to handle such thing. 

Truly the OP traded without any prior knowledge of trading and traded randomly with altcoins, more importantly the OP should have traded with small funds as a trainee to minimize losing huge funds unfortunately losing $16K in a year is massive, personally I think the OP funded account shouldn't be more than $1K until when profit earning is consistent thereafter more funding into the account, however this is also a wake-up call to all new traders and investors to take enough time in learning how to trade and not just to trade blindly on any altcoins crypto trading or investment because it is not a get rick quickly scheme it takes a lot of time commitment and perseverance to become successful.

Blindly trading will only bring losses in the end.
See how OP spent $16k in a year, it's quite unfortunate, whereas if he is able to trade well and knows at least the basic science of trading he will get profit even though not much.

If you just do trial and error and rely on feelings alone, trading will run like a blind man with no direction and everything becomes unclear.
Losses will be experienced gradually, the ratio of losses is greater than profits.

But it is still quite good if only in a year to experience a loss of $16k.
There are some people who trade blindly and lose thousands of dollars or even hundreds of dollars in less than a day.
And of course, they get into new altcoins managed by scammers.

Aside from that, you should not be trading in the first place because your experience and skills are not sufficient enough. You might be quite knowledgeable but that's never enough to make successful in your trades. Know that trading is hard and risky, so it takes a professional trader before you are entitled to gain decent amount of profits. For now, focus on long term hodling for bitcoin. If you want to maximize your future profits, then do the DCA every time you receive spare money from you salary.

Patience is always the key. While you are in the process of investing bitcoin for long term, then take your time to study how trading works and listen to the tips and advices for experienced traders. Learn from their experiences first before you decide to risk your money and time in trading.

The problem is, that is cryptocurrency trading, where trading is very high risk. especially if we are beginners who don't really understand trading, strategy, how to analyze, and also manage our emotions and finances in trading. Then it will backfire as we trade both on the Spot market and even more so on the Future market. Again, the risks are very high. That's why, for beginners, instead of choosing trading, it would be better to just invest in Bitcoin as a preliminary while learning about trading well and maturely.

When it's Bitcoin, isn't it okay if its value decreases? As long as we haven't sold it, the amount of Bitcoin we have remains at that amount. However, it is true that our emotional ethics are not yet stable and our thinking is not yet very mature, so it will feel very sad when we see that the value of our assets is really at a very low value if converted into fiat. Yes, because prices keep changing. However, as long as we are able to hold it, it will not change the amount of Bitcoin you have. Once again, keep holding even though the value in fiat seems to be decreasing. Wait until the next bullish era, at least you can see it grow again.

but the problem is if it is altcoins that are not top coins, especially new altcoins that you bought during the hype, then to be honest, it will be very difficult for it to rise again to its original, very high price. Maybe there are, but it's very rare to find hype coins that can then skyrocket again later. Usually the value will continue to decrease. For this reason, we often see various advice here about being careful when we invest our money in altcoins. because it is high risks, riskier than Bitcoin.

It's quite unfortunate, but that sounds like FOMO. If you're not familiar with what FOMO is, you can read about it here: https://www.techtarget.com/whatis/definition/FOMO-fear-of-missing-out

It's important to note that coins with weak fundamentals that rely solely on pumps to attract investors are often a bad sign for their future... even if you get them at a low price, there's still a possibility that their value will decrease in the future, potentially reaching rock bottom. It's crucial to choose coins carefully if you intend to use them as part of your savings strategy to help safeguard your assets and preserve their value.

imo, your mistake might have been placing too much confidence in coins going through a pumping phase and rushing to enter without logical reasoning. It's a good idea to practice patience and observe market movements. Then, align your approach with your trading style, whether your analysis is for the long term or the short term.

As I advice for all person do not invest money when you didn't know how to trade first of all we should get good knowledge about trade after that we should not invest our pocket money on crypto if we have extra money which might be loss in crypto so we wouldn't in tention 16k dollars is not less money but are unlucky becauseay be you have not good knowledge about trading

But you see the price of bitcoin now..the main problem is that we can't wait for trading we are getting panic fastly.we are thinking short way for trading to make rich which is not good..in this crypto trading there a lot of coins which all are not same we should understand the market situation after that choose a best coin which have good price chart records previously like BTC if this 16 was invested in bitcoin when bitcoin was at price of 16k dollars then your money would now 37k dollars always choose right coin

One of the things that everyone is really that experiencing specially when you are still a noob, getting FOMO'ed? Pretty common and if you are someone who arent that emotionally stable or something that being too impulsive then you are really that susceptible on making out with those impulsive reactions which would lead up into those actions and decisions on which it might not really be that giving you some advantage because we know that once your emotions are disrupted then there's no way that would'nt really be changing up your mind into the decisions you might be taking.

If we do speak about losses, then it is really that inevitable. Why? We are  dealing with a market on whose really that too volatile and unpredictable. So it is really that normal that
there are positions on which we do make out some bad decisions into it, the important thing on here is that you should be getting prepared for some
additional or back up plans when it comes to this matter. Also mistakes are stepping stones or something that could make you more better as you do go ahead.
You would be finding soon later that you are really that enhancing up your skills.

Investing in cryptocurrency is not a very risky thing, but trading is very difficult and people take it easy and lose money trying to get more profit. Sometimes even people who know how to trade make a loss in trading. Those who do not know how to trade, yet participate in trade, are like gamblers.

$16k is certainly a lot of money, but even if a million dollars is given to people who have no experience, they can waste it.profits are not guaranteed in any business , but  must be a good experience, and always move with the market. It is very important to know how the crypto market works. A good amount of money is required to trade in the cryptocurrency market, here you can neither trade nor get profit with the amount of pocket money.

Bitcoin price is increasing as continuously but we have seen now it is more stable at above $35k which is a better sign of relief for the traders which are going to make some huge investments in different coins they know and have knowledge. As in crypto space, a person who have some knowledge about its coins he wants to buy or if he wants to invest in that, he must be at that stage in which he knows what the coins really is.

Many traders in the trading competition are far behind still now because they didn't have some proper management and planning and they didn't have mostly the ability to cover these topics in which he is weak like one is strategy.

I read your story and i want say your some wrong step, Why you started with big amount of dollars while you are not a experienced traders, 1k$ is not a joke.
The sound is you traded as like gamble it's not trade, without knowledge started trading it's your big mistake, it's very sad you already lost 16k$ for aggressive trading.