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Author Topic: Trading sucks, I'll just hold my coins  (Read 25487 times)
DaddyMonsi
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August 04, 2017, 03:50:08 AM
 #21

Trading is not for everyone. Its easy to say "Buy Low, Sell High" but its actually easier said than done. if you are a first time trader then it is likely that you will commit mistakes and even those who are into crypto trading for quite sometime now still commits mistakes, so dont blame yourself. Get some more patience and have fun trading.
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August 04, 2017, 04:06:02 AM
 #22

I know you can trade. But, I think there is a part in trading that you have not understood. Ie "not too lustful" to look for big profits. Well, if you think the money is of great value to you, why do not you hold your lust in trading? Learn from experience Others who have lost a lot of money because of "too lust" in trading.

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August 04, 2017, 04:10:07 AM
 #23

Well you lost the money because you weren't patient enough or you invested in a really shitty coin. You need to be smart about investments and also have a lots of patients. For a newbie, its better to just trade the high market cap coins, because those are reliable options.
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August 04, 2017, 04:20:15 AM
 #24

Hold probably the best option for inexperienced trader, but you must learn trading too, with small number to avoid big lost. However, expert is experienced noobs, losing is unavoidable. This is just about power of will, strategy, patience and learning from every action and mistake
I know you can trade. But, I think there is a part in trading that you have not understood. Ie "not too lustful" to look for big profits. Well, if you think the money is of great value to you, why do not you hold your lust in trading? Learn from experience Others who have lost a lot of money because of "too lust" in trading.
Agreed

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August 04, 2017, 04:53:29 AM
 #25

Trading is not for everyone, but one can make himself successful through continued study about the market and investing small amount to experience the real factors that happen during the process of trading. Majority of the users who say trading sucks is all because of their misunderstanding that trading is simple and can earn big in a short.

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August 04, 2017, 05:05:33 AM
 #26

It sounds like you didn't research, you never traded before but you saw the hype and wanted some easy money. A smarter idea is find good projects, invest some money and sit on it for 10 years. If it's really good other people will take notice too and it'll go up and up in price.
that's the problem but lesson learned coming out from that mistake and beginning that day traders must need to know what should be the necessary
alternatives if things is not going to your way never ever make a move that you don't have any plan b.

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August 04, 2017, 06:17:50 AM
 #27

    I am not an expert trader but i guess you could have just hold it anyway than selling it. If you choose to sell then actually that's the time you will eventually lose, but in holding case well there is still slight or maybe a big chance for you to cope up. You can make this also as an experience so just keep them with you.


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August 04, 2017, 06:58:56 AM
 #28

I guess you have used much leverage and attempted margin trading, which is cause of that big loss in short time.Even for he expert day traders it is not easy to trade the market with leverage.So as newbies it is always better to avoid this type of trading and first start learning Money management, that is key here.
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August 04, 2017, 08:05:05 AM
 #29

Trading is a very risky things and newbie supposed to be not playing big, you should start from small amount and be ready to lose that money, trading is not as simple as buy low sell high, there are so many aspects and things that need to be considered, and losing money is a common thing in trading, but if you are not ready to lost that money then don't do any trading

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August 04, 2017, 08:14:26 AM
 #30

I'll paste this in, because its worth a read.  (he lost 120BTC). Better to learn from his mistake, not yours.
(src: https://www.reddit.com/r/ethtrader/comments/606fz4/my_final_margin_call/)

Okay guys, so after quite a few years, I'm quitting trading altogether.
Through my years, I've had some great days and some bad ones. I remember staying up nights on end looking at the price, roaring with happiness when my position went up 20% and sighing when my stop losses were hit. I've had some amazing fun and invested hours upon hours of my life into crypto. I'd earned a LOT by reselling stuff in real life and putting it into BTC in the $200-600 range. My net worth was pretty huge and I was essentially set for life. Being young, I have very little in fiat: the majority of my holdings were in BTC.
All because of one position, I lost it all. Yes, I know it was stupid. Yes, I know you shouldn't short, especially in a bull market. Yes, I know that I should have cut my losses fast. From the first worrying -2 BTC to the slightly terrifying -20 BTC, watching my losses grow and grow. Everyone told me to close the position: but I told them, are you retarded? Do you want me to close out with a $2,000 loss when it's so clear DASH is going to crash? Do you want me to close with a $10,000 loss when this is clearly a bubble? Do you want me to close with a $50,000 loss when I can easily make $20,000 if I just wait this out?
I was so damn certain that DASH was going to fall. And, it kept hitting new all time highs. I thought I was smarter than the market, I thought I could time the bubble: but guys, remember. It just doesn't work.
So, I've decided to stop trading 100%. It's a drug to me. (Even after being liquidated, can you believe that I converted the rest of my bank funds to Bitcoin and shorted more? I made a horrible decision in a fit of rage and I regret it so fucking much.)
My final margin call: https://gyazo.com/8cba2eb983f4ff6733a0b8b4807f358a
I hope that some people here will be able to learn from me and never let their losses grow to what they can't afford to lose. For years, I have been content with my life and sufficiently "well-off" in the knowledge that crypto is huge and I have enough money to live comfortably. I'm crying as I type this, because this is the worst moment of my life. So many fucking years of working, and all gone in days. I'm no longer rich, or well-off. I'm going to have to fucking bust my ass, bit by bit, to slowly recover - and I don't even know where to start. The pay I'll get when I start working ($10-20ish) seems like literally nothing compared to the thousands I lost. And if crypto really takes off, I'll always have regrets about what could have been.
Honestly, I'm just so done with everything. My head hurts, I can't stop crying and DASH is still going up. Good bye, I hope all of you have a great day.
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August 04, 2017, 08:48:57 AM
 #31

I know you can trade. But, I think there is a part in trading that you have not understood. Ie "not too lustful" to look for big profits. Well, if you think the money is of great value to you, why do not you hold your lust in trading? Learn from experience Others who have lost a lot of money because of "too lust" in trading.

Trading is not for everyone, believe me. You cant be a good trader when you dont have skills and proper knowledge. It requires this as you need to equip yourself and dont end up become a loser. When you think trading is not really for you then stop it or else you will be poor as a rat. Just hold your bitcoin for long term and it'll profit without losing anything.

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August 04, 2017, 08:52:37 AM
 #32

In trade, you can not give in to emotions. I, too, decided that it would be safer for me to just keep coins and wait for the price to rise, I already earned a lot in this way.

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August 04, 2017, 09:19:47 AM
 #33

Really? Hmm i am planning to start trading but now i'm hearing negative things about it. But regardless, i will still try it with atleast .05 btc as a start. We learn from our mistake and hopefully you recover all your losses.

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August 04, 2017, 09:32:34 AM
 #34

Trading doesn't suck at all i just made 1 bitcoin in the last 24 hours from just 0.2 bitcoin. You can also earn profit but first stop trading shit coins or buying coins whenever you have funds trading is all about timing just hold atleast 0.1 bitcoin on your favourite exchange one day there will be a trading opportunity you will notice to make you huge profits



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nakata90
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August 04, 2017, 10:15:54 AM
 #35

In trade, you can not give in to emotions. I, too, decided that it would be safer for me to just keep coins and wait for the price to rise, I already earned a lot in this way.
Most trader on market trading with type keep coins and waiting highest price in early this year (about in March - May) are take a huge profit from it. But remember when in June beginning the bearish trend, if you still keep your coin just make have loss more money.

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sweetbet
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August 04, 2017, 10:50:51 AM
 #36

Sorry to hear about your losses. It sucks when you're a newbie and you get excited about trading, but you end up losing a lot of money and it puts you off trading. It happened to me too when I first started out. I purchased coins at a high price and then they crashed and stayed down for weeks, so I sold them. After I sold them, they skyrocketed and I would've made my money back if I kept them. I've learned many lessons since then, among the most important lessons are:

1. Invest in strong quality coins
2. Study the minimum price over a minimum month long period before you place an open order to buy at the rock bottom price.
3. Even if the price falls after you buy it, hold the coin until the price rises again.
4. Never buy during a pump. I did that once. I purchased at the end of a pump, then the price plummeted and so did my money. Never again.

It's always a good idea to experiment and learn with small amounts of money until you get it right before trading with more money.

I wish you all the best going forward, and even if you don't trade again and just hold onto your BTCs, one day they'll be worth a lot more money and you'll more than make up for the money lost.

Sweet Bet - Reviews of online casinos, poker rooms, sportsbooks & bingo sites. Crypto Casino King - Reviews of the best Bitcoin & altcoin casinos.
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August 04, 2017, 10:57:29 AM
 #37

For guessing a large amount of income it is easy in trading but when it comes to picture you need to wait some time in order to make profits on the investments you made on a particular coin. It is very easy to say buy low and sell them at a high price but it is really hard because it will take some time to get profits.

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August 04, 2017, 11:05:23 AM
 #38

Trading is risky and I think OP already know that before he jump in the water, and probably he was doing short term trading and I admit it took me quite some time too to master that (not really master but to know how to do short term trading). You see when you are doing short term, you have to keep your eyes on your laptop and wait for the pump and dump of the coins, so sad that you weren't lucky enough to have patience and wait for the rise and fall of the coin. And that is the reason why I also prefer long term than short term because I don't want to wait and keep my eyes on the laptop all the time.
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August 04, 2017, 11:28:49 AM
 #39

Short term trading is really hard. I tried a few times but I never got consistent in doing it, so I think that my profits come more out of luck and not knowledge. I think what you are doing now, is the best option, and it's what I'm also doing. Just hold to your coins. Of course I don't advise you to hold anything else than BTC, and maybe ether, and why not the free bcc you probably just received.

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August 04, 2017, 12:35:31 PM
 #40

A wise man always does his homework. You are a newbie and you should not have taken quick actions. Clearly it can be seen that you have panicked but what did you actually do ? did you take part in a pump and dump or you just sold your coins in a loss or did you invest in a shitcoin? whatever you did was a big mistake. The rule to trading is " Never sell your coins in a loss" and " Do your homework" . Research about a coin that has good potential to rise up and only then invest in it. If a coin has good potential it will definitely rise up sooner or later and so there is no need to worry about the loss.














 

 

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