Bitcoin Forum

I think most of the beginners on trading felt the same as you and also experienced the same as you. Just like me, in the beginning, especially when I started to trade, I lost almost 50% of my balance in the exchanges.
I decided to stop, but there's one inside of me that pulls me to trade again, then, I started to learn and study, research and ask.

Just what you said, once you learnt something, everything will be easy for you, like you are familiar to everything that you do.

 Just always keep in your mind, there is no easy money, it comes for hard work and learning.
https://i.imgur.com/fvs70sx.png

I typically risk no more than 5% of my trading balance to ensure drawdowns aren't too bad most of the time, and I've been fortunate enough to have not been down 30% at any time so far, but there have been times in the past when I wasn't using good risk management where I was down greater than 30%. Those times were actually a blessing to me, as I was trading a smaller amount of money than I am now and those losses made me take another look at TA and risk management which has now taken me much further than I would've been if I didn't lose.

As for gaining confidence, there's a number of ways to do that, but one of the simpler things is just to look at the brighter side. There's a good chance you're only looking at the negatives if you've lost your confidence.

Same thing that happened to me 2 years ago after the great China fake news that dropped all Altcoin prices including Bitcoin. After that incident, I seldom trade and if I ever trade, the amount at risk is very low. Its a learning experience and it costs us a lot to learn from our mistakes but it teaches us to be more cautious at every move that we make in trading.

There is nothing to do with confidence in trading. We don't know on what direction the market is going to move. Just can predict and open the buy and sell orders. Should not go for immediate profiting out of confidence. Here being courageous to spend is the must. Even if some thing happens away from the predictions just take a break, analyze and proceed further. This will make you limit your losing.

I like explanation in the picture and that is really the process if a person wants to be successful.
We keep learning everyday, accept our mistakes and improve it.

I can also testify that to my personal experience, I'm a kind of person who does not easily give up in challenges, and trading IMO
is a challenge, if we want to be successful, we have to accept that challenges and always believe that quitters never win.

Once you lost the confidence in your mind then it will definitely very hard to get back in your life again but if you try some effort to make it possible then you will feel better with confidence in this field also very quickly.

I recently lost a lot in my trading account, the portfolio that I was counting on that could generate me more money than I could hope for, but it didn't work out. I had to check out why it happened. I kept on losing money, and all I did was the wrong decisions.

I'm still waiting for the moment to have the experience to make things right, like the post by @GreatArkansas. It's a great thing to understand, but being attached to the feelings won't make the right ones. You have to be strict for yourself, and unluckily, I didn't follow on it. It's the saddest part.

I'm hoping to get back everything that I have lost, and maybe more discipline is needed. I have lost hope, but I know I shouldn't be that down, I should pick myself up and recover.

Short but quite inspirational story. You've made the right decision to continue walking on the path you've chosen. The trail would not definitely as smooth as you imagined but I know that it is all worth it when you succeed. Pain and losses were not pure miseries, actually they are blessing in disguise because they make us stronger investor and a person in general. There's a saying "What doesn't kill you make you stronger" :).

I also lost a lot of money before (around $140 worth of btc) and I was so very upset because I'm facing a financial crisis that time. That amount already means a lot to me and I lost it for being greedy. Fortunately, I was able to survive my 4th year college even without it and here I am still trusting to crypto. I already learned a lesson and I'm doing my best for me to not commit the same mistake again.

The anime character used in the picture was already enough to represenst what OP's situation is like. If you are familiar with One Punch Man, he (Saitama) is the protagonist of it. He is just a weak normal guy at the beginning but started to dedicate his life on training and now become an invincible hero. His enemies only need to get one punch in order to be defeated ;D.

That is why the whole crypto trading also involves a lot of mental toughness. You can't just lost your confidence here, otherwise how can you get back. As I have been preaching here, crypto trading is a journey, a lot of bumps along the way and if you don't know your way specially standing and getting back again they you will be lost along the way.

To the OP, at least your mind didn't give up like majority of us. When they see their portfolio down, they start to bitch around the community and even blame everyone except themselves. Just keep fighting those negativity and I'm sure you can slowly gain back what you have lost. Again, this is a journey and not a marathon.

the problem with this market is that it can give a lot of the newcomers a false sense of confidence specially during certain periods of time where it is easy to trade. you just have to close your eyes and select an altcoin to make profit. for example 2017. that year ruined a lot of people and emptied their pockets because they thought they were expert traders just because they made some lucky bets on the market. then when the actual market showed its face and they started losing money by making the same "bets" they slowly realized their "confidence" was a sham.
only those who learn from their mistakes can come back to the market and continue on.

Your experience is an encouragement to those that are new in this market and have not been affected by the brutality of the cryptocurrency trading. It happens to me sometime back when I came into trading for the first time. I was making gained from the beginning until a single trade wipeout out my capital and gained and I have to stay away from trade for over two months before coming back again but this time extremely careful.

A mistake is a thing we can't simply escape from, anyone is subject to have it but it has an advantage for us. We learn from those mistakes and could give us a way to find a solution for not recurring again. And base on my experience, trading is difficult to look at but if we understand it and take control of our self, it everything will be fine.

Each participant in this market has many different mistakes and this is inevitable in this risk market. I think finding a solution is the only way we can survive in the bear market because every day is a survival war so you can make the most profit but if without real knowledge you will never win this market . Personally I holding a lot of good coins and so far my profit has been very small but I will continue to be patient with this market in the near future.

Everyone make mistakes here, so I'm sure all of us at some point experience this kind of feeling. We lost our confidence and we suffer depression and afraid not to trade again because we lost a lot. But that is life so we need to face the consequences of our actions.

And as we mature we learn new things and experience is the best teacher. Learn from our past mistakes and don't let emotions takes over, take control, that is the key.

Only 26%, I think you are new at here. I and other people got more than 90% lose from the market with a lot of shitcoin, ICO and other coins. Welcome to the club, we are archive a lot of lose from trading.

Same things also happened with me but the percentage was huge more than half for me. But still I have some hope in crypto and I didn't withdraw my assets.

However, if you lost your confidence,it will be hard to get it back because it's an abstract things. Once we lost, it rarely back to us.

Treat mistakes as a good foundation in building strong trading experienced.

Without those mistakes, losses, regrets, being crashed, being wrecked, etc. we will not know how to deal properly of al the trading problems we will encounter in the future. Even professional traders today experienced losses during their newbie days and up to now. But that losing experienced able to guide them to create a better and more effective strategy in the future.

If at some point that mistakes happen regularly and continuously over and over again for a "long period of time", without establishing a bounce-back win between those losses, then maybe trading is not really fit for them or still lack of seriousness on that profession.

OP there is no need to post with texts increased in size.
It's good and congrats that you get everything on top. Without fall you can't rise. You did what people advice here, learnt on mistakes.
In overall such threads are always welcome, there are a lot of people who fail in trading, such threads really boost positive feelings and let us know what people who fail in trade aren't alone and there is a chance to learn on mistakes, it's like a motivation.
Thanks and wish you all the best.

Confidence may not directly be a factor to success in trading, but it can indirectly play a part, when one is confident about something, in one way or the other, you tend to do that thing correctly and smartly, if one takes away panic and uncertainty, applying all the methodologies learnt as well as imputing confident ideas, with luck on your side, such trade would be successful. People should be encouraged to eliminate fear and boldly trade cryptocurrencies.

When we experienced losses, it lessens our confidence but remember that there is still many options to get back our losses. We can simply hodl and wait for the bull run again or regain it by selling it in lose amount then trade again to compensate the lose. Great thing, there are mentors who are there tk remind you and to still guide you on the right track. But remember that it is not only you, who got that feeling. Whenever there is loses, there is insecurities.

I experienced this too years back before I got into crypto currency trading, then Forex trading was the popular one, so I got myself involve and I started trading, I had used demo practice before I went to live trading and I could swear that I was a guru with the demo trade, but when I was faced with the live trade, everything changed and I started encountering difficulties like the one you described here, but the difference between my own was that I lost everything and I gave up on the trade completely till I got to know about cryptocurrency trading.

During the time I gave up my trade though, I did not stop learning and gaining more strategies, because I believe it was lack of my strategies that led to my failure, so I embarked on a long training, but luckily for me, cryptocurrency came, which I saw the opportunity to trade and I have been trading without mistakes since then based on my past experience, and accumulation of more knowledge.

I also have an undeniable achievement, I have lost more than 90% of my portfolio within 3 days when I did not place a stoploss and were too confident in the business I had invested.
It was rotten and it was my greatest failure in life. I seem depressed, stress for 3 weeks.
My remedy is to think optimistically. We are young, we have many opportunities and failures that are one of the prerequisites for our great success in the future.

Sounds like a lot of folks have gone through this, and for that I sympathize.

Hopefully y'all were able to work through it as well!

that's why we should read more about financial books, helping us to fight big risks.
I witnessed my greedy friends when investing in crypto market. Some people go bankrupt because they don't know anything about crypto and how the market works.
I have also been greedy and got very bad results. Therefore, before investing, we should learn how to best manage finance to make the most reasonable investment decisions.

Lesson learned mate dont just put your money without doing technical analysis because at the end you will repent and will blame you self.  So be practical , always check the coin if its has potential because that's the most important on this kind of business wherein to avoid such issue. Always look forward for some sort of project that will give you a good return and don't easily put your money without enough information .

I'm sure everyone has the same experience like you but not everyone who had the same experience were able to to fought and get their confidence back.
Very similar to sayings that not everyone here investing in crypto are successful, some will fail and loss their money, and you are lucky to stay compose and you are also good to share you experience that it could help others to learn.

After those failures, we should find a way to fix it so that it does not happen again. I think this market always has many surprises that we cannot predict and easily make us sell panic when the market starts to fall. Personally, after each failure, I will begin to study more carefully and participate in many useful courses to help me have the best experience before returning to this market.

Being a trader is hard thing to do, I have been two years to learn about how to trade for at least I have to reduce the risk of my loss, but till now I still found a huge lost a few times. But when I got profit from it I feel my time that have been spending to learn more about how to be a good trade was paid off. At least I like to find an understanding or to find more a knowledge either from an article or youtube channel these are my refferences. Because the key of success is knowledge, when I choose a field which I will pursue then I have to know more the ins and out about it.

That's some sign of courage you did display in your story above. Not everyone can summon the courage to do what you just did, many traders losses self confidence the moment one bad trade occurs in their trading career. Unlike what you did, which has to do with taking it step by step, building back your confidence with little amount of trading capital. Some traders immediately go in big again hopefully to recover their lost fund in the closest time frame possible and that's the major reason why most traders don't success in recovery thier lost fund or finding their trading confidence. Thank you for sharing your story.

I just joined the trading field and also encountered certain defeats. I was greedy and bought a lot of Litecoin at $ 135 because the members of many groups had fomo about Litecoin.
I did not self-assess about the market and only bought according to the words of other traders.
and you see, I lost almost 35% of my portfolio.
But I think failure is the mother of success, we need failures to become wiser.
You did very well when you passed the difficult period. just go ahead, success will come to you. ;)

Thanks OP for sharing. I think every trader must have gone through the same experience. Tbh losing 26% of your portfolio is nothing compared to me. I had my portfolio lost around 90% of value when i was very early in crypto investing in 2017 mostly because of my impatience and panic sell. I was very panicked back then but fortunately, i managed to turn things around after getting a lot of profit through TRX and XRB (now called Nano) investment, turned my $150 capital into thousand of dollars.

I think majority of the traders who started to entered in crypto world encountered the same as yours mate.
I knew lots of traders faced lost most of the time in trading were their coins always got loss, but in the end because
of the experienced they had in trading they've learned from it were little by little profit came to them. Therefore, being a traders
need to be patience and not emotional every time they are in the actual performance of trading.

You had really overcome your losses and regained your confidence in your tradings this is indeed a rare feat that isn't easy to overcome or accomplished as a newbie in trading as a result of fear and emotions of losing more trades, I had also experienced some losses in my tradings I was worried looking at how my portfolio had dropped massively having incurred some avoidable losses in trades that Iam supposed to take profit however I mustered courage and took the bull by horn and enter on new trades thus recovered those losses and makes more profits this are some of difficulties agood trader must overcome to garner and acquires more experience in trading.

i also have experienced frustration and felt very down because of the price crashed of crypto last 2018
i dont know why i didnt sell, i just watched my folio turn negative ,i was too naive with my hopes because of that i have lost $12,000.
For a single mother like me it is a very significant amount of money i was really devastated ,
 i literally stop doing anything concerning crypto because i have nothing and was disoriented. But soon i came back doing bounties
, i just realized that good campaigns here in bitcointalk can give me a new start and i was not wrong. Now i am back on track
i am starting to trade again and much more eager to learn.

Only a few does survive yet some of them already gave up on first-second failures thats why they dont really improve yet they dont accept loss of money or such mistake.

Experience can be gained on this way.You wont learn nothing if you wont experience hardship.Nothing comes simple not only on trading but in all sorts of things in life in related on doing such decision.
The best thing here is that you do learn something that you can be used up on your future trades to take on.

It happens to all people. The exclusion is only self-confident guys, but they also make many mistakes, have losses and usually blame others for this stuff. To get your confidence back, you need to feel success, and it may be not only good profit during trading. All positive changes will help to change your mind and your mood, and you will be more confident in dealing with crypto.

Losing confidence may still be lighter because we can build it again, the worst is when you continue to lose and learn nothing to get up. I have experienced an incident, where I traded for almost half the year I continued to lose, from there I began to understand how we should behave when trading.

This was the best course of action, when a newbie suffers great losses instead of taking a step back and think about went wrong they try to immediately regain all the money they lost to the markets only to lose the rest of their capital, as a trader I have lost money and it is one of those experiences that are inevitable since no one can predict what the market will do 100% of the time, what it is important is how you react to it and what do you do to recover from it, and you took the right steps, you took notice of your lack of confidence and took enough time to rebuild it, and as long as you remember this valuable lesson you will eventually recover any money you have lost.

Make it simple, trading is not gambling so for those people who want to get profit from trading he should have a known against it. It will be useless if there is someone who want to get profit but he knows nothing again it, but I guess this type person is ralely when he start to trade.

If they wan't to learn about trading I guess that is time for them to get out from this field and find another place which suitable with his desire. And I have confident foe those people who still trading he will find and still learn the strategy of trading because at this time the strategy of trading is much. You can find it on youtube channel and other people experiences.

Exactly, giving up is just a form of fear, now we can give up but the future, we still face many similar stories, our life will be a coward if we choose to give up, our eyes are ahead, it wants us to always look straight, accept fate and step on fate to win. So even though failure can break our confidence, as long as we keep going, everything will be rebuilt, and we should know that when we realize our mistake, recovery will become faster, and not stop there, our confidence will be built stronger because we know, we can still return perfectly even when we fall into a deep pit of defeat

Not everyone you see that stopped has actually lost confidence in trading, we have so many people that did not acquire enough strategy and skills before they went into trading, and after they try their luck and they fail, some usually withdraw first to just go back and learn more before coming back to the market.

When I started trading, it happened to me too, I started learning to trade and because I was doing well with my practices, I did not wait to become perfect and I rushed into trading live till the extent that I started using margin trade, but after I lost heavily, I surely withdrew and went back to take more time to learn more, in fact it took me almost a year of staying back, but now I am perfect with my trades now after I have gone to learn more techniques.

Yes I know, but people cannot all be the same or know same thing, we have some people that no matter the effort they out into it, they may still never get it right, so what would you advise such people to do? They should still continue with it and keep failing? We don’t have to get ourselves involve in things that are never meant for use, but if we eventually see the truth, then we can shift away from it and then look for that thing that are meant for us to do.

There are some people that are not just good with trading, and I don’t think we should push them too hard in the name of not giving in to failure, it is not about failure, it is just about finding the right part for them to follow and be successful. They have to discover themselves and see if they have passion for trading or not, otherwise they will keep failing.

Another good story of how someone recovered from adversity, the truth is that regardless of your skill as a trader at some point you are going to make a mistake and you will lose more money than what you planned initially, and when that happens you need the mental toughness to overcome the situation, it is not easy at all but it can be done as long as you are willing to examine your actions with honesty, I have made a few mistakes as well but after each mistake my ability as a trader has increased.

Losing confidence in trading is hard, and I feel that. I think we need to convince ourselves and say to ourselves that we can try again, no matter if we have a bad experience before because I am sure that we are not only one and there are many others will have the same experience. We should use the experience as a lesson for ourselves, so we can get back and try trading again. No matter if it's hard, if you have a strong will and you want to try, I am sure you will get better than before.

Failures are the pillars of success. Every successful man had many failures in life before becoming successful. The way you decided to analyze your mistakes and came back to trading with plan is really impressive and more valuable than the amount you lost. I am in trading for more than 9 years, many times I increased my account to 500% and suddenly lost the whole account. I know the fact that I take risky trades which should not be done. Now like you I decided to learn from my mistake and will trade my account professionally, I hope will gain all back what I have lost. You whole story is really inspiring.

Yes your story is really worth reading.
You set an example for others.
You really lost a huge amount in less than 90 minutes,  but you didn't get panicked and lost your confidence.
That is the thing that many traders lag behind.
I really appreciated the eay you fought and got your confidence back.
Good luck to you.

This is what exactly happens with new traders who try to make good trades without getting enough knowledge and lose their money.
Once we get the knowledge and experience in trading, we can not only recover our loses but same time we may be in profit also.

Emotional breakdown for newbies is a common occurrence especially the ones who have entered the markets with literally no experience in trading whatsoever, they will always expect that the money after buying will be an automatic profit. Luckily the OP is one of those newbies that can realize mistakes and try to fix it. The first part of it is of course admitting their own mistakes where newbies mostly fail as they always blame the market of Bitcoin in particular for their loss, they don't see their own carelessness and unpreparedness on entering the market.

Keep up spirit and dont give up. I am too already lost more than 80% from my asset. I think most of beginners had lost their asset. Just dont give up, u will learn from ur experience.

Our mistakes are really meant to give us those experiences that will teach us how to further grow in our trades and investment. The first thing we even have to do first is to believe in that investment that we choose, once we believe in it, then it will give us the strength never to give up on it even we experience some failures.

Our failure is meant serve as an experience, and at least something that we will be able to tell story with when narrating our success to people. there is an elderly person in my village who believes that those who faces challenges in life would be the one that lives longer in life(lol), I don’t know how true this is, but those are the words of the elderly ones, so in crypto trading, I believe those who has had history of failure a lot are the ones that later becomes the guru in future.