aencarnaci
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May 25, 2018, 08:25:50 AM |
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Losing your hard earned money on trading is one of the traumatic experiences that might happen to you. This is usually happen when you are so bullish on the coins you are investing. Here are my thoughts on how to redeem you from this kind of experience. 1. Acknowledge that you did something wrong There are no other ways to start the process of redemption by accepting the fact that you made wrong decision. You need to accept that every once in a while we do poor judgment. It is important; when this thing happens to us we are ready to humble ourselves that we committed mistakes. 2. Identify the problems
a. Lack of experience – I was a successful trader in stock market winning mostly of my trade. But playing here as a day trader in crypto is something new. Your success in stock market doesn’t guarantee you success in BTC. b. Playing aggressive – Since I have too much ego in my head I put all my money in one coins only. I didn’t consider altcoins to hedge risk from BTC. There are altcoins who doesn’t affect much by this massive correction. c. Didn’t follow my trading plan – Foundation of trading practice is to follow the plan you have originally set. Your exit strategy is one of those important decisions you will made. It composes of selling and cut loss strategy. 3. Courses of actions a. Never stop growing (learn the new market) – In every new things to we do it is very important to know our strength, weakness, opportunities, and threats (SWOT). Money is involved in every trade which make, which gives us reasons why we need to study the every aspects of cryptocurrency. b. Follow religiously your trading plan – There some trader who doesn’t have trading plan, in my case I have one which was not followed. Trading plan was based on your personal experience in trading. In time these plans was polished and test its effectiveness. If followed properly chances of success are increase. c. Never stop trading – If this single defeat dictates me to stop then the real loss will happen. These circumstances should ignite us to continue, make this experience to hungrier for success. d.Diversify your portfolio – Never do all in trade. These will gives you room for another alternative once the other coin doesn’t do well. Balance your portfolio composes of your well research coins. After careful assessment of my situation, I believe that once a trader will always be a trader. I may lose sometimes but will rebound harder and stronger. Remember merits are perishable if not useIf I lost $ 2,000, I'll still invest, I'll cover $ 2,000. There are many ways to get rid of $ 2,000, when we are just waiting for our invested currency to recover our investment losses, we are not always losing money, we have a successful investment day too. It is a part of the business and it is a bit risky businesses so do not worry. I have known many people who lose in the start when they enter the business but work hard to understand and learn about the technology they are investing in. As a result, they regain the lost money and even make more money as compared to the money that was lost in the start. Do not worry, stay focused.
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Moneypham5
Newbie
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Activity: 134
Merit: 0
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May 25, 2018, 08:52:40 AM |
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I think you need to learn more before investing. This will reduce your losses. But before learning to invest, I think you should be prepared to lose money before you make a profit.
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Hemady17 (OP)
Member
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Activity: 505
Merit: 35
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May 25, 2018, 08:58:32 AM |
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...and finally, once YOU HAVE lost $2000 in trading, make a post on bitcointalk where you explain all the mistakes which you have done, and get 22 Merits in return. ![Smiley](https://bitcointalk.org/Smileys/default/smiley.gif) That's not exactly like still having 2000$, but surely it helps ![Smiley](https://bitcointalk.org/Smileys/default/smiley.gif) Sarcasm at it’s finest my friend. That’s how expensive is the merit to get this day. Price of merit as of the moment is $90.91 dollars per merit to be exact. I think you need to lose $4,000 USD to double my merit earned. Seriously this kind of post should not be replicate by the others. It so offensive, have a little sympathy to others most especially those people got burned in trading.
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zemelax
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![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
May 25, 2018, 10:14:57 AM |
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Losing your hard earned money on trading is one of the traumatic experiences that might happen to you. This is usually happen when you are so bullish on the coins you are investing. Here are my thoughts on how to redeem you from this kind of experience. 1. Acknowledge that you did something wrong There are no other ways to start the process of redemption by accepting the fact that you made wrong decision. You need to accept that every once in a while we do poor judgment. It is important; when this thing happens to us we are ready to humble ourselves that we committed mistakes. 2. Identify the problems
a. Lack of experience – I was a successful trader in stock market winning mostly of my trade. But playing here as a day trader in crypto is something new. Your success in stock market doesn’t guarantee you success in BTC. b. Playing aggressive – Since I have too much ego in my head I put all my money in one coins only. I didn’t consider altcoins to hedge risk from BTC. There are altcoins who doesn’t affect much by this massive correction. c. Didn’t follow my trading plan – Foundation of trading practice is to follow the plan you have originally set. Your exit strategy is one of those important decisions you will made. It composes of selling and cut loss strategy. 3. Courses of actions a. Never stop growing (learn the new market) – In every new things to we do it is very important to know our strength, weakness, opportunities, and threats (SWOT). Money is involved in every trade which make, which gives us reasons why we need to study the every aspects of cryptocurrency. b. Follow religiously your trading plan – There some trader who doesn’t have trading plan, in my case I have one which was not followed. Trading plan was based on your personal experience in trading. In time these plans was polished and test its effectiveness. If followed properly chances of success are increase. c. Never stop trading – If this single defeat dictates me to stop then the real loss will happen. These circumstances should ignite us to continue, make this experience to hungrier for success. d.Diversify your portfolio – Never do all in trade. These will gives you room for another alternative once the other coin doesn’t do well. Balance your portfolio composes of your well research coins. After careful assessment of my situation, I believe that once a trader will always be a trader. I may lose sometimes but will rebound harder and stronger. Remember merits are perishable if not useActually you made a splendid decision when you entered the market there. However FOMO doesnt forgive anyone. There is no place for greed in trading.
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waldocarter
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May 25, 2018, 10:30:55 AM |
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I myself do not trade much, but it seems to me in trading as in gambling - you need to be able to stop, pause. It does not matter whether you won or lost. Determine for yourself the amount of the day - for losing or winning. And do not exceed this threshold.
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waldocarter
Full Member
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May 25, 2018, 10:32:35 AM |
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I myself do not trade much, but it seems to me in trading as in gambling - you need to be able to stop, pause. It does not matter whether you won or lost. Determine for yourself the amount of the day - for losing or winning. And do not exceed this threshold.
And most importantly, never try to get it right away. It will ruin you, you will act on your nerves, on emotions, you will not be able to assess your actions sensibly.
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neschadim
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May 25, 2018, 10:36:06 AM |
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You need to put aside another two thousand, invest them again in the cryptocurrency, and lose them again.
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Mastsetad
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May 26, 2018, 09:50:08 AM |
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In order not to lose money in trading with cryptocurrency, first of all, a beginner trader should study the technical and fundamental analysis of trade, he must also follow the news on the cryptocurrency market and start trading with a small amount of money to gain experience.
I will continue trading in cryptocurrency because I think loss and profit is part of this game and you should not to be panic about any deficit. Quitting means that you have no guts to recover your lost money, and I believe that if I lost in cryptocurrency I will regain it from this trading and will never quit. Consistency and patience is mandatory in this world.
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valera10
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May 26, 2018, 07:01:06 PM |
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I think that different strategies a lot and this topic is more intended for beginners. I have on similar schemes the strategies are available. But I won't tell them.
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trickyriky
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![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
May 26, 2018, 07:52:00 PM |
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If I loss that much money, I won't stop trading then I will try to recover my losses and learn from my mistakes.
I used to lose big sums of money but it really did not stop me. That time I simply took a small break to think over all the mistakes that were done. Then I returned to trading and returned the money.
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FUD Expert
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May 27, 2018, 12:14:05 PM |
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That's a huge money to be lost easily and considering that it's a hard-earned money is very painful to think. If it happened to me, I would try investing again but this time it is going be a smaller amount and I will slowly recover the losses that I had by trading much more careful and with more patience.
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Red Fish
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May 27, 2018, 12:30:31 PM |
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2000 USD, which you loose, is nothing. Many traders loose hundreds and thousands USD each day, plus banks loose a lot of money in Forex trade too. Any experienced traders know, that only with experience you can make profit, plus even then you can loose too. ![Grin](https://bitcointalk.org/Smileys/default/grin.gif)
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onrise
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May 27, 2018, 12:36:28 PM |
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This is of course a very useful article, but I have my own opinion on this. If you lose when trading, you need to wait.
The very first step is to identify why did you lost it. Was it due to lack of knowledge , due to greed or due to some wrong reasons you have lost. Secondly after identifying do you have spare money again to do trade and in case if you lose again will you be able to sustain and if yes then you can do trading again and see how it goes.
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Haladay
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May 27, 2018, 12:41:46 PM |
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2000 USD, which you loose, is nothing. Many traders loose hundreds and thousands USD each day, plus banks loose a lot of money in Forex trade too. Any experienced traders know, that only with experience you can make profit, plus even then you can loose too. ![Grin](https://bitcointalk.org/Smileys/default/grin.gif) If you have over than $10.000 in your trading account, here $2k is not a big deal for you. It can be lost anytime, it can be won anytime. It's like 20% compared to your whole budget, I mean.
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Fredomago
Legendary
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May 27, 2018, 12:46:32 PM |
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2000 USD, which you loose, is nothing. Many traders loose hundreds and thousands USD each day, plus banks loose a lot of money in Forex trade too. Any experienced traders know, that only with experience you can make profit, plus even then you can loose too. ![Grin](https://bitcointalk.org/Smileys/default/grin.gif) If you have over than $10.000 in your trading account, here $2k is not a big deal for you. It can be lost anytime, it can be won anytime. It's like 20% compared to your whole budget, I mean. If you do have it, this amount can be recover if you will focus more, but if you don't have that enough capital then I can say that this value is really a huge loss, we are inside crytpo we don't have any control and we can't blame anyone but our own self alone, we do write our fate and we really need to be more keen learning things in a different ways, that loss can't or can be recover with knowledge and determinations and add some additional skills to enjoy your journey to this wild world of cryptos.
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beverly788113
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May 27, 2018, 12:49:57 PM |
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We should take this a learning pattern, each time you lose don't get negative right away, you should build new plan and create strategy, as far as dealing with trading the volatility always give us reactions. Loosing money in trading is a sign of faulty strategy. Loss in the trading is a signal that we should look back and try to see what went wrong, the time and decision to hold or sell, long term and short term trading
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gerald246kru
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May 27, 2018, 12:50:07 PM |
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For sure it is wise not to take sudden decision as if today you unfortunately lose some of bitcoin don’t be hurry to sell remaining as it is your careless that you will lose otherwise there is no any chance to lose that much in bitcoin. Losing is natural, although you have to be more practical when you are trading. There might be some instances that you'll lose a lot of money because of a certain mistake in what you are doing
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think3214
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May 27, 2018, 12:50:22 PM |
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Those that think that trading is easy are probably going to be the ones that lose all their money, in order to make money in trading you need to have a very deep knowledge about the markets. Crying would not solve any problem but rather try to see how you missed it and see how you can make amendment next time. It is a market and there would always be series of chances
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@hosimanaka
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May 27, 2018, 01:32:11 PM |
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How did you lose $2000 in trading? Did you sell your coins already? If you haven't sold it yet, you cannot considered it as losses. You will only lose once you sell your coins. If you see that your portfolio is in red and everything went down, just keep on holding your coins because it will eventually recover from those dumps.
Yes, his question is not really clear, if we lose, we sell the coin out, and the loss is when we are still holding the coin. These are two completely different things. But losing or losing is a lesson for him. Let's draw on experience in the market if next time encounter this problem.
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burky155
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May 27, 2018, 01:37:49 PM |
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It would depend of your capital power. If you put $100k in first place you can lost $2,000 and it would be nothing. But if you started with $5k you would feel very bad.. In my opininon you should prepare yourself to earn or loose. There are many many problems that everyone can have in cryptocurrency business..
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