What to do if you lose $2,000 in trading?

[gantez]

If you lose $2,000 worth of cryptocurrency, then there is a problem to you. Check first yourself if you have capability in trading because if you will continue what will you do, it may lead to total bankruptcy. Unless, you are a millionaire.
Trading is a risky way of earning, you may gain or lose money. If you will enter the world of trading, be wisely and knows every side wether dump or pump of the coins you hold.

Even a millionaire that keeps losing such huge amount of dollar consistently , would go insolvent too. I suggest OP should work on his strategy more, see if he can change his pattern if the old style isn't working. Or he should be more focus.

[Caladonian]

I think that when your investment is lost, you must first think about whether or not the investment was judged correctly, sum up your failed experience, and slowly study it so that you can accumulate experience to be able to determine more accurately which projects can bring To benefit.

That is absolutely the best action one can do after making a wrong decision in trading. No matter what happens, there is no need to get dishearten because it is very common to face a loss in the profession of trading. All traders come across failure in the beginning.

It is due to the lack of experience and knowledge. After screwing up sometimes and figuring out the exact problem, things change. With time, he will definitely start making profits.

Charged things to experience to avoid doing the same mistake, that's good action when things ruin your investment, if you already in such losses you
need to think wiser after sudden failure we must deal with it, move forward and do more research, knowledge and skills is our best tools to survive
with crypto investment or with same a like.

[nskendrovic]

I would say just quit trading and become a hodler. Not everyone is made for trading. In the crypto world the hodlers get better returns then the traders. Also hodling would be good for your peace of mind and will help you stay relaxed and focus more on your day to day life.

[mia khalifa]

what I do is I have to remember the mistakes I have made and make a correction myself what makes me able to get that much loss after that I do trading again but must be more patient and careful not to repeat the same incident again.

[billtonz123]

if i loss 2000$ i really cry in my bedroom and never trading again, but does not mean i can quit until there. i can rise again and change from trading bitcoin to invest bitcoin, because invest more good rather than trading. invest not use your pyssically for trading, we can enjoy in free time and with family and we get it a money.

[bitcub]

My biggest loss so far is .080btc, I got liquidated from making a 100x margin from trading USD / TRY in Forex. But the chart went in a different direction. Biggest lesson I learned here is stop being greed. It is better to earn small than lose bigtime.

[bitcoinveda]

Just hold them patiently because i am loosing more than $25000 my holding the coins. If you sell them you might loose the value and wait patiently until, when price start increasing.

[KingdomHearts]

I think that when your investment is lost, you must first think about whether or not the investment was judged correctly, sum up your failed experience, and slowly study it so that you can accumulate experience to be able to determine more accurately which projects can bring To benefit.

In trading, there are very much chances of suffering of loss and that if there comes a situation when you suffered some loss, then you just to remain patient and that you need not to feel stressed. Instead, you need to look for the ways using which you can recover that loss and that you can only do by keep on doing the trade with the rest of the money which you had in your wallet.

[sakokinak]

gather your spirits and move on. but you got a good experience and will not allow such errors in future .the experience is worth the money

Never give up, even when you lose such a sufficient sum of money. Do whatever you must do: work, trade, educate yourself, chat with the other traders, participate in Bounty. Everything will work here.

[missmaria]

2000$ is not a very significant amount for crypto-trading; some people loose much larger amounts - imagine how they feel.

[Fatunad]

I think that when your investment is lost, you must first think about whether or not the investment was judged correctly, sum up your failed experience, and slowly study it so that you can accumulate experience to be able to determine more accurately which projects can bring To benefit.

In trading, there are very much chances of suffering of loss and that if there comes a situation when you suffered some loss, then you just to remain patient and that you need not to feel stressed. Instead, you need to look for the ways using which you can recover that loss and that you can only do by keep on doing the trade with the rest of the money which you had in your wallet.

Telling out on not to get stressed is very hard for sometime specially when we least expect on that kind of loss or the first time we lose money. recovery on such stress or frustration would takes time but eventually if you already experience this thing on the 2nd time around which you committed some mistakes again it wont hurt you out since you do know the feeling of such thing and also once you gained experience you will eventually know on how to handle things on next encounter.

[logan16j]

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 use

I believe that with a market going down as it is now, it is extremely difficult to trade successfully. You can see that bitcoin prices have been steadily recovering in recent days and are showing signs of slowing down, but may turn around and decrease at any time. So if you do not have a specific trade plan, and follow the discipline I believe you will continue to lose money.

[Scallywag]

2000$ is not a very significant amount for crypto-trading; some people loose much larger amounts - imagine how they feel.

price is relative for everybody , for some people it is a lot of money for some people it is peanuts. but in these times it is easy to lose such an amount.

[ufaiz50]

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 use

It seems like I've read books that are similar to what you convey, especially those located at point 3. for example do not be afraid to fail or continue to grow, have other plans because it could be what we plan after the implementation of the results are different, I appreciate what you say is a great thing and I think it is very useful for those who read it.
I have never experienced such huge losses in trading but if I lost $2k then I might try to do my best to get the $2k back with what I have either strategy or information.

[btcformula]

Correction taken already 65% to 70%, we don't know some correction remain or not. Daily trading means you have to be active & monitoring crypto from all side. SO when we are in loss without holding what else we can do .

[el kaka22]

what I do is I have to remember the mistakes I have made and make a correction myself what makes me able to get that much loss after that I do trading again but must be more patient and careful not to repeat the same incident again.

Yeah, that is the basic thing! Figure out the mistakes, find out how you can do it better and then see how you can make use of what you have learned to do a better job in the long run. No one got it right first, and at some point even after learning, we also had to learn with some experience, and as time went, we started getting better at it and then making good decisions. It is all a matter of dedication to learning and wanting to do it right.

OP should have tried to check where he got it wrong for that to happen. Sure, we cannot undo some mistakes, but we can make sure they do not repeat themselves. Most of us have been in this shoe one way or the other before, but that is where re-strategizing comes in. We cannot always get it right anyway, but we can always learn to do it right.

[stellgod]

2000$ is not a very significant amount for crypto-trading; some people loose much larger amounts - imagine how they feel.

Still this is big amount too. As a student if I just lost this, I will be disappointed with my results but I know this isn’t the end of world. Chances are always coming to you and you can never stop taking them. All those people who have been losers in their times must know the pain they had at that time. But don’t just waste this pain, rather learn from all mistakes you have made to beautify your success.

[angrynerd88]

Loosing one time not a big deal but loosing continuously there is some thing wrong.Lack of knowledge and wrong selection of coin is also responsible for losses.Sometime impatience also lead to the losses because when market decline people get panic and sell hurry but dont wait till market going up.So find the lacks and overcome it and start with courage take right decisions at right time you will win.

[longminh123]

Loosing one time not a big deal but loosing continuously there is some thing wrong.Lack of knowledge and wrong selection of coin is also responsible for losses.Sometime impatience also lead to the losses because when market decline people get panic and sell hurry but dont wait till market going up.So find the lacks and overcome it and start with courage take right decisions at right time you will win.

This market will give us many useful lessons and most of us have one mistake in this market and the more mistakes we will have new knowledge. I lost $2000 in just 10 minutes and it was a really bad day for me but I still tried to calm down what was going on and chose wiser investments and avoid a pitiful mistake this market

[Silberman]

You remind me of this following statement "If you failed, mourn your disappointment, dust your desire, and then start afresh." Many people have lost hope because they lost from their first time. They are easily to give up. They do not know that trading requires patience and failure. You cannot move forward without failing. Your cells die everyday. Yet, it regenerates itself again. You should not give because you already have learned something from your previous failure.

The people that give up so easily do not really have a realistic idea of what it takes to become a successful trader, they think they're just going to buy some coins and then those coins are going to skyrocket and then they're going to enjoy an easy life for the rest of their lives and we know it doesn't work like that we know that those that become successful at trading are those that are willing to put most of its effort towards that activity.