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Author Topic: What to do if you lose $2,000 in trading?  (Read 10069 times)
Btceengineer
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June 27, 2019, 12:37:23 PM
 #621

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.

https://i.imgur.com/5n8DTcP.png

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



If you learn the lesson this is not a problem dont repeat your mistakes learn from your mistakes everyone was a newbie even TOP treaders.

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June 27, 2019, 02:11:38 PM
 #622

neutralizing thoughts and feelings is the main step. after that we begin to analyze and execute with the remaining funds. just assume that defeat is school fees. by always thinking positively, positive power will come

it's a theory that's easy to say but it's hard to do when you get depressed. but i think in trading a loss will not happen as long as you have strong confidence, so for what you buy high and sell low, it is a very wrong decision and you should be more patient to sell it higher
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June 27, 2019, 02:27:34 PM
 #623

neutralizing thoughts and feelings is the main step. after that we begin to analyze and execute with the remaining funds. just assume that defeat is school fees. by always thinking positively, positive power will come
Instead of thinking positively about mistakes and considering that is the price for a lesson, we should learn to face our failures, accept our mistakes because this loss comes from our decisions and analysis, if we are just subjective and always think positive as you said, we will soon get the same mistakes. And after having a time of regret and adjustment in emotions, we should set up a plan to recover the loss, but remember, don't think this is a pressure or a goal for us to come back, trying harder and working with all of our abilities is enough

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June 27, 2019, 05:24:55 PM
Last edit: June 27, 2019, 05:40:10 PM by Genamant
 #624

i have lost more last 2018 , its really a lesson learned for me. I accepted already that its purely all my fault,
what i did is I pause in trading for almost a year and only did bounties.
I run out of fund and the campaigns that i participated in had helped me get back to trading.

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June 27, 2019, 07:24:23 PM
 #625

who felt the first time must feel disappointed. but we must be able to entertain ourselves so as not to be in constant disappointment. positive thinking becomes a medicine that will arouse our enthusiasm to continue the journey

If 2 thousand is lost, the guy should think if he is ready to go on to trade further. For me, it will be a great disappointment. However, I try to deal with day trading and do not operate with large sums of money.
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June 27, 2019, 07:54:06 PM
 #626

Might sound generic and stupid but this is the true,trust that the lost amounts can be recovered in few days,with the current market raise it will be possible in hours as well.

Anyway trading is an unpredictable job in cryptos so we need to face any risks as long as we can enjoy profits later.

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June 27, 2019, 08:30:52 PM
 #627

If I lost something in trading then it will be totally e not my mistake because all the market situation only I got this problem but I definitely try to manage that after the next move of me otherwise if it is easily manageable then I can do my best.

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June 27, 2019, 08:54:02 PM
 #628

Even the professional trader could've lost on trading. It is a must to learn and experiment with the fund affordable to loss. Whenever one experience loss automatically the user will go mentally down, this should not happen. When you loss, prepare yourself mentally and just schedule the time duration before which the loss needs to be compensated. This $2000 needs to be earned through continued buying and selling between the difference.




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June 28, 2019, 05:23:03 AM
 #629

For somone like me to lose 2000k dollars in a trade? I won't say it's not possible but it's very difficult, reasons being that I don't even have that much and secondly, it is only someone that doesn't know what risk management is that will lose that much in one single trade.

Its been so many traders faced that circumstances to loss 2, 000$, probably because the market was too unpredictable and because of its volatility its difficult for us to determine when the price goes up or down in the market. So, If I were you I think its a good idea if we hold em in a long term at least in that way our coins will not be turn into waste or nothing.

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June 28, 2019, 05:33:13 AM
 #630

this question should not been ask in the first place because what you only need is a common sense in order for you to answer this but since its already been there then i would also like to give my own answer . if you loose 2k usd in trading then its obvious that you should move on because you already loose it and there is no any other way to recover it not unless you only loose the value of your assets but you still hold the asset . if thats the case then you only loose partially or temporarily because there is still a chance that you can recover its value if you will wait  .

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June 28, 2019, 06:11:53 AM
 #631

For somone like me to lose 2000k dollars in a trade? I won't say it's not possible but it's very difficult, reasons being that I don't even have that much and secondly, it is only someone that doesn't know what risk management is that will lose that much in one single trade.

Its been so many traders faced that circumstances to loss 2, 000$, probably because the market was too unpredictable and because of its volatility its difficult for us to determine when the price goes up or down in the market. So, If I were you I think its a good idea if we hold em in a long term at least in that way our coins will not be turn into waste or nothing.
Playing patiently with the market condition can give you some breathing instead of rushing things up and make a wrong decisions and lose your money, it's hard to predict the directions of the market but if you are willing to wait and work out with much better strategy you'll be able to recover those loses and make some good profits too.



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Rainbot
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June 28, 2019, 06:17:48 AM
 #632

I lost more than 10 BTC a years ago but I never felt guilty thanks to the calm nature of my mind. It is not a big amount for average countries but it can be a life-changing amount for poor third world countries. Trading is risky, winning and losing are two important factors here. Better look for the new opportunities instead of blaming myself if such case ever happens again.

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mersal
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June 28, 2019, 07:00:43 AM
 #633

I lost more than 10 BTC a years ago but I never felt guilty thanks to the calm nature of my mind. It is not a big amount for average countries but it can be a life-changing amount for poor third world countries. Trading is risky, winning and losing are two important factors here. Better look for the new opportunities instead of blaming myself if such case ever happens again.
Even 10BTC looks huge amount to the most developed countries with the current value and in two years it might worth millions as well so we need to save as muchas bitcoin and when we lost don't have to worry about it but need to think how can we recover from that losses.

Did you get your 10 bitcoins back?

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June 28, 2019, 08:08:01 AM
 #634

I lost more than 10 BTC a years ago but I never felt guilty thanks to the calm nature of my mind. It is not a big amount for average countries but it can be a life-changing amount for poor third world countries. Trading is risky, winning and losing are two important factors here. Better look for the new opportunities instead of blaming myself if such case ever happens again.
you're great friend. I've lost 0.2 bitcoin in my wallet. well, it was a bad experience. I knew, when I lost the asset, I could do nothing but rise again. it is a risk that I must accept. When you lose $ 2000 because of something you do yourself, I think it's a risk that you need to deal with strongly. I'm sure, not only have you ever felt that way.

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June 28, 2019, 12:50:50 PM
 #635

I lost more than 10 BTC a years ago but I never felt guilty thanks to the calm nature of my mind. It is not a big amount for average countries but it can be a life-changing amount for poor third world countries. Trading is risky, winning and losing are two important factors here. Better look for the new opportunities instead of blaming myself if such case ever happens again.

Good thing you're calm to those kind of situation and move on quickly. Others will sulk for few months, some even will get depressed. Just think of it as an important lesson to your life. If you only think negatively nothing will happen.

Next time you try something that is new to you, just put only few amounts. Once you get used to it, increased it until you reached the amount you want to invest.




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July 06, 2019, 09:48:13 PM
 #636

Great tips. Perhaps, if I had known this all before, I would have managed to avoid some mistakes. Although it is possible that the fact that I paid for these mistakes with my money made these lessons so good. In any case, admitting your mistakes is the first step on the path. A plan and its observance help me perfectly. The only thing I would like to point out is that there are situations where you should not complete your plan. If I see that the overall situation in the market is changing dramatically, then this is a reason to be safe and leave the position.
Also, don't forget that your deposit should be divided into 3 parts: one for bitcoin, the second for altcoins, and the third should remain in usdt (or equivalent). The part in usdt is very important, it is your insurance and lifebuoy in unforeseen situations.


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