TRADING FROM 5 YEARS STILL IN 30k LOSS

[Roseline492]

I am trading crypto from past 5 years

When I was doing my Bachelors Degree I started trading and whatever I earn from freelancing I used to put in binance and do future trading.

Now after 5 years my total loss is 30k USDT

I am earning hardly 500 USDT per month from my job and recently got married

Let me know how to recover loss bcz now I also have a loan of 3k USDT on me.

 :)Is it all gamble or I consider it as fee of learning in this field

Should I continue to trade or leave this field

I will not consider it as a fee of learning because if you still trade you will loss as you have lost all this years so is actually cost of learning that wasn't accomplished, did you lose this money without getting any? Because the way I look at it is as if you have never won any money from your trading. Is going to be hard if you are earning below your expenses and remember that you lost a money that can worth more than 5 years of your current salary, you just have to manage the $500 to be able to pay and reduce the amount you are owing because if expenses is high you can't pay at once.

[lixer]

he loss because of future trading. This is the real mistake from him. Maybe he want to double his money quickly from trading, instead of trade on spot market, he already choosing future trading. a common mistake that happens from new trader, they are thinking spot and future trade is a same way to take a profit. The funny thing after they are losses a lot of money, they say if crypto is a scam, ponzi etc.

Lucky for me, i know a trade from spot and before the future trade era, so i can see the different of both trade.

Futures trading can definitely give us really good profits but it comes with huge risk. Making money is not that easy and if the market is giving us the leverage, it will take something in return. Here, in most cases it will be our complete account balance because futures has the ability to liquidate our complete account just behind one single trade.

Usually the reason why most people do not like spot trading is because the profits are not that good. One might have to struggle even to get around 20% profit every month from the spot markets but we can make that profit in just a couple of trades in futures trading and that is what lures new investors.

New traders will usually come with the mindset to make quick profits and get rich quick which is never the case when it comes to trading. Trading needs a lot of patience and starting with spot markets will only make us gain the patience level so I would always suggest anyone newly starting to go for spot and avoid futures until they think they can perform well and are self confident.

[masulum]

OP is not a new trader and I think with 5 years of experience he knows the difference between spot trading and futures trading.

Yep, i know it, but i think from the start of his trade, he playing with future trades, that why over 5 years he losing more money and unable to recover. I mean, while he is new in trade, not now but in the past too.

Honestly, many traders will disagree but for me, futures trading is gambling.

I think so, futures do not buy coins, so we are doesnt have a coins, instead we are only have a increased value according to the amount of leverage for betting long or short.

[BlackBaron]

OP is not a new trader and I think with 5 years of experience he knows the difference between spot trading and futures trading.

Yep, i know it, but i think from the start of his trade, he playing with future trades, that why over 5 years he losing more money and unable to recover. I mean, while he is new in trade, not now but in the past too.

Futures trading does indeed carry significant risks, and the OP is one of those who has experienced losses, and he has experienced them for a very long time. If he had invested using the DCA method starting five years ago, I think we would have said the same thing: he would have made a decent profit.

This can be a lesson for beginners, as futures trading carries similar risks. Yes, spot trading also has risks, but they are lower. For example, if the invested coin (if invested) were to decline, the losses would not be as significant as the current ones.

[Awaklara]

Should I continue to trade or leave this field

Five years is not a short time to become experienced in trading. If you are still having trouble making a profit, perhaps the best thing for you is to close your trading account and start a good life without the stress of losing trades.

Your losses are not small, but you should accept them as valuable experience. Maybe futures trading is simply not for you. During that time, have you considered focusing on Bitcoin investment instead? This is not advice, but perhaps you could compare it.

[Koadharber]

he loss because of future trading. This is the real mistake from him. Maybe he want to double his money quickly from trading, instead of trade on spot market, he already choosing future trading. a common mistake that happens from new trader, they are thinking spot and future trade is a same way to take a profit. The funny thing after they are losses a lot of money, they say if crypto is a scam, ponzi etc.

Lucky for me, i know a trade from spot and before the future trade era, so i can see the different of both trade.

Futures trading can definitely give us really good profits but it comes with huge risk. Making money is not that easy and if the market is giving us the leverage, it will take something in return. Here, in most cases it will be our complete account balance because futures has the ability to liquidate our complete account just behind one single trade.

Usually the reason why most people do not like spot trading is because the profits are not that good. One might have to struggle even to get around 20% profit every month from the spot markets but we can make that profit in just a couple of trades in futures trading and that is what lures new investors.

New traders will usually come with the mindset to make quick profits and get rich quick which is never the case when it comes to trading. Trading needs a lot of patience and starting with spot markets will only make us gain the patience level so I would always suggest anyone newly starting to go for spot and avoid futures until they think they can perform well and are self confident.

Many people jump straight into futures trading because of the excitement of quick profits but what they don’t realize is that the same leverage that makes it look attractive can easily wipe out an entire account in a single bad move futures are designed for experienced traders who already understand risk management and how to handle market volatility not for beginners still learning the basics.

Spot trading on the other hand teaches discipline it’s slower but steadier you learn to deal with price fluctuations without the pressure of liquidation and this process builds patience which is one of the most important qualities a trader needs those who skip this stage often end up paying heavily because futures magnify both profit and loss at the same time. The main reason new traders fail is the mindset of turning a small capital into a fortune overnight trading doesn’t work like that markets don’t reward greed they reward control and experience the right approach is to start small on spot markets learn how price reacts to trends and support levels and once you can consistently manage your risk then you can think of moving to futures with strict limits and discipline.

[Z_MBFM]

I am trading crypto from past 5 years
When I was doing my Bachelors Degree I started trading and whatever I earn from freelancing I used to put in binance and do future trading.
Now after 5 years my total loss is 30k USDT

I am earning hardly 500 USDT per month from my job and recently got married

Let me know how to recover loss bcz now I also have a loan of 3k USDT on me.

Should I continue to trade or leave this field

Your story is very similar to mine. I lost a lot of money in futures trading which I blame myself a lot. Every time I tried to recover my losses, I lost more. And then after trading I started gambling to recover my money which hurt me even more. So I understand that success never comes quickly. Both futures trading and gambling make us dream of quick success and financial strength. And there I think the end result is loss.

I would suggest you to quit futures trading and use your good skills in something good which will give you a passive income and a security income for your whole life. In this case, you can at least live a normal life very well even if you cannot live a luxurious life. If you have funds to invest then in that case you can invest them in strong coins like Bitcoin for the long term.

[masulum]

This can be a lesson for beginners, as futures trading carries similar risks. Yes, spot trading also has risks, but they are lower. For example, if the invested coin (if invested) were to decline, the losses would not be as significant as the current ones.

Coins with high liquidity and volume, mostly save to trade, because it will be hard for whale to playing pump and dump. But, if buying low liquidity and volume, this coins or tokens also have high risk to dump fall very deep and never touch last ATH forever. So, even buying a coins from spot trade, just make sure the coins /tokens have good trading volume everyday.

With this trade, even just taking profit 5% for 1-3 days, it will better than trade with futures, miscalucalted will ended up being liquidated.

[passwordnow]

Futures trading does indeed carry significant risks, and the OP is one of those who has experienced losses, and he has experienced them for a very long time. If he had invested using the DCA method starting five years ago, I think we would have said the same thing: he would have made a decent profit.

This can be a lesson for beginners, as futures trading carries similar risks. Yes, spot trading also has risks, but they are lower. For example, if the invested coin (if invested) were to decline, the losses would not be as significant as the current ones.

Those newbies that don't want to experience the mistakes and losses of the others, you don't have to feed your curiosity on how it's quick in making money with the futures. Because if the influencers are showing you how profitable and quick they are with it, it's also the same with the opposite on how you can be quick in losing your money there. And that's not what they're telling you and unlikely of showing it because if they do so, their reputation is going to be stained in front of their fans.

[Ziskinberg]

Should I continue to trade or leave this field

Five years is not a short time to become experienced in trading. If you are still having trouble making a profit, perhaps the best thing for you is to close your trading account and start a good life without the stress of losing trades.

Your losses are not small, but you should accept them as valuable experience. Maybe futures trading is simply not for you. During that time, have you considered focusing on Bitcoin investment instead? This is not advice, but perhaps you could compare it.

Bitcoin investment and hodling should not be underestimated. With due diligence on buying and patiently hodling, the results will be excellent. It's just that new investors these days prioritize their greed and rush to enter trading, when we all know its not the right thing to do as a beginner in crypto. And when they start losing a significant amount, that's when they will be enlightened and learned their lesson. Trading is not for them, hodling may be.

[Questat]

Maybe there are probably some traders who mature and get skilled after years of enduring mistakes and losses. And if OP still want to prove that trading is also for him, then let him be. Maybe he is right, maybe he is wrong.

However, there are always options OP. You can make an exit from trading and start venturing something new, but this time develop your skills and strategies first before diving in, so that your losing experience from trading will not be repeated.