I lost my confidence... And fought to get it back.

[maxreish]

When we experienced losses, it lessens our confidence but remember that there is still many options to get back our losses. We can simply hodl and wait for the bull run again or regain it by selling it in lose amount then trade again to compensate the lose. Great thing, there are mentors who are there tk remind you and to still guide you on the right track. But remember that it is not only you, who got that feeling. Whenever there is loses, there is insecurities.

[RealMalatesta]

I experienced this too years back before I got into crypto currency trading, then Forex trading was the popular one, so I got myself involve and I started trading, I had used demo practice before I went to live trading and I could swear that I was a guru with the demo trade, but when I was faced with the live trade, everything changed and I started encountering difficulties like the one you described here, but the difference between my own was that I lost everything and I gave up on the trade completely till I got to know about cryptocurrency trading.

During the time I gave up my trade though, I did not stop learning and gaining more strategies, because I believe it was lack of my strategies that led to my failure, so I embarked on a long training, but luckily for me, cryptocurrency came, which I saw the opportunity to trade and I have been trading without mistakes since then based on my past experience, and accumulation of more knowledge.

[juperos]

I also have an undeniable achievement, I have lost more than 90% of my portfolio within 3 days when I did not place a stoploss and were too confident in the business I had invested.
It was rotten and it was my greatest failure in life. I seem depressed, stress for 3 weeks.
My remedy is to think optimistically. We are young, we have many opportunities and failures that are one of the prerequisites for our great success in the future.

[Mr_Akbar]

Sounds like a lot of folks have gone through this, and for that I sympathize.

Hopefully y'all were able to work through it as well!

[tonyvo2017]

that's why we should read more about financial books, helping us to fight big risks.
I witnessed my greedy friends when investing in crypto market. Some people go bankrupt because they don't know anything about crypto and how the market works.
I have also been greedy and got very bad results. Therefore, before investing, we should learn how to best manage finance to make the most reasonable investment decisions.

[Ararbermas]

Lesson learned mate dont just put your money without doing technical analysis because at the end you will repent and will blame you self.  So be practical , always check the coin if its has potential because that's the most important on this kind of business wherein to avoid such issue. Always look forward for some sort of project that will give you a good return and don't easily put your money without enough information .

[Distinctin]

I'm sure everyone has the same experience like you but not everyone who had the same experience were able to to fought and get their confidence back.
Very similar to sayings that not everyone here investing in crypto are successful, some will fail and loss their money, and you are lucky to stay compose and you are also good to share you experience that it could help others to learn.

[alan2here]

I'm sure everyone has the same experience like you but not everyone who had the same experience were able to to fought and get their confidence back.
Very similar to sayings that not everyone here investing in crypto are successful, some will fail and loss their money, and you are lucky to stay compose and you are also good to share you experience that it could help others to learn.

After those failures, we should find a way to fix it so that it does not happen again. I think this market always has many surprises that we cannot predict and easily make us sell panic when the market starts to fall. Personally, after each failure, I will begin to study more carefully and participate in many useful courses to help me have the best experience before returning to this market.

[Ridwan Fauzi]

Being a trader is hard thing to do, I have been two years to learn about how to trade for at least I have to reduce the risk of my loss, but till now I still found a huge lost a few times. But when I got profit from it I feel my time that have been spending to learn more about how to be a good trade was paid off. At least I like to find an understanding or to find more a knowledge either from an article or youtube channel these are my refferences. Because the key of success is knowledge, when I choose a field which I will pursue then I have to know more the ins and out about it.

[CryptopreneurBrainboss]

That's some sign of courage you did display in your story above. Not everyone can summon the courage to do what you just did, many traders losses self confidence the moment one bad trade occurs in their trading career. Unlike what you did, which has to do with taking it step by step, building back your confidence with little amount of trading capital. Some traders immediately go in big again hopefully to recover their lost fund in the closest time frame possible and that's the major reason why most traders don't success in recovery thier lost fund or finding their trading confidence. Thank you for sharing your story.

[ajaymukund]

I just joined the trading field and also encountered certain defeats. I was greedy and bought a lot of Litecoin at $ 135 because the members of many groups had fomo about Litecoin.
I did not self-assess about the market and only bought according to the words of other traders.
and you see, I lost almost 35% of my portfolio.
But I think failure is the mother of success, we need failures to become wiser.
You did very well when you passed the difficult period. just go ahead, success will come to you.

[chipzeru]

Thanks OP for sharing. I think every trader must have gone through the same experience. Tbh losing 26% of your portfolio is nothing compared to me. I had my portfolio lost around 90% of value when i was very early in crypto investing in 2017 mostly because of my impatience and panic sell. I was very panicked back then but fortunately, i managed to turn things around after getting a lot of profit through TRX and XRB (now called Nano) investment, turned my $150 capital into thousand of dollars.

[cryptoblazter]

I think majority of the traders who started to entered in crypto world encountered the same as yours mate.
I knew lots of traders faced lost most of the time in trading were their coins always got loss, but in the end because
of the experienced they had in trading they've learned from it were little by little profit came to them. Therefore, being a traders
need to be patience and not emotional every time they are in the actual performance of trading.

[gabbie2010]

You had really overcome your losses and regained your confidence in your tradings this is indeed a rare feat that isn't easy to overcome or accomplished as a newbie in trading as a result of fear and emotions of losing more trades, I had also experienced some losses in my tradings I was worried looking at how my portfolio had dropped massively having incurred some avoidable losses in trades that Iam supposed to take profit however I mustered courage and took the bull by horn and enter on new trades thus recovered those losses and makes more profits this are some of difficulties agood trader must overcome to garner and acquires more experience in trading.

[Genamant]

I once lost 26% of my portfolio in three short trades, in less than an hour and a half.

It was brutally crushing.
Weeks of hard work gone in the blink of an eye.

But I thought back to when I was just a little kid, learning how to ride a horse at summer camp.

More accurately I remember falling off said horse while trying to learn how to ride it.
And the camp counselor wiping the dirt (and maybe a tear, though I'd never admit it) off my face.

"If you don't get right back on that horse, you never will again." he told me.

And so I did.

But when I got back on the trading horse the next day, something was different. It didn't feel right.
It felt like the charts I was so used to watching, were in a foreign language.

The letters were still the same, but I couldn't read them anymore. Whatever I used to see, whatever strategy I had been using before, it didn't fit.

Something was missing.

I floundered, and I panicked.

Luckily, a good friend and mentor was there to catch me.
Thanks to their wisdom, it became clear to me - there was indeed something missing.

My confidence.

Confidence in my skill, confidence in my ability to control my emotions, confidence in my analysis.
Without that, there was no way that crypto could the salvation I so desperately longed for.

And so I set out to rebuild that confidence, brick by brick.
For the next 30 days, I traded only a completely insignificant amount of money and I documented every last detail.

That helped me control my despair while validating the effectiveness of my strategy.

After rediscovering my groove in those 30 days, I slowly ramped back up to trading real money.

In the end, learning from that experience proved far more valuable than the short term damage to my portfolio.

Have you ever had to experience something extreme to overcome a mental weakness?

i also have experienced frustration and felt very down because of the price crashed of crypto last 2018
i dont know why i didnt sell, i just watched my folio turn negative ,i was too naive with my hopes because of that i have lost $12,000.
For a single mother like me it is a very significant amount of money i was really devastated ,
 i literally stop doing anything concerning crypto because i have nothing and was disoriented. But soon i came back doing bounties
, i just realized that good campaigns here in bitcointalk can give me a new start and i was not wrong. Now i am back on track
i am starting to trade again and much more eager to learn.

[stomachgrowls]

I'm sure everyone has the same experience like you but not everyone who had the same experience were able to to fought and get their confidence back.
Very similar to sayings that not everyone here investing in crypto are successful, some will fail and loss their money, and you are lucky to stay compose and you are also good to share you experience that it could help others to learn.

Only a few does survive yet some of them already gave up on first-second failures thats why they dont really improve yet they dont accept loss of money or such mistake.

Experience can be gained on this way.You wont learn nothing if you wont experience hardship.Nothing comes simple not only on trading but in all sorts of things in life in related on doing such decision.
The best thing here is that you do learn something that you can be used up on your future trades to take on.

[guydin]

Once you lost the confidence in your mind then it will definitely very hard to get back in your life again but if you try some effort to make it possible then you will feel better with confidence in this field also very quickly.

It happens to all people. The exclusion is only self-confident guys, but they also make many mistakes, have losses and usually blame others for this stuff. To get your confidence back, you need to feel success, and it may be not only good profit during trading. All positive changes will help to change your mind and your mood, and you will be more confident in dealing with crypto.

[ufaiz50]

Losing confidence may still be lighter because we can build it again, the worst is when you continue to lose and learn nothing to get up. I have experienced an incident, where I traded for almost half the year I continued to lose, from there I began to understand how we should behave when trading.

[South Park]

I once lost 26% of my portfolio in three short trades, in less than an hour and a half.

snip


And so I set out to rebuild that confidence, brick by brick.
For the next 30 days, I traded only a completely insignificant amount of money and I documented every last detail.

That helped me control my despair while validating the effectiveness of my strategy.

snip

This was the best course of action, when a newbie suffers great losses instead of taking a step back and think about went wrong they try to immediately regain all the money they lost to the markets only to lose the rest of their capital, as a trader I have lost money and it is one of those experiences that are inevitable since no one can predict what the market will do 100% of the time, what it is important is how you react to it and what do you do to recover from it, and you took the right steps, you took notice of your lack of confidence and took enough time to rebuild it, and as long as you remember this valuable lesson you will eventually recover any money you have lost.

[EdenHazard]

Losing confidence may still be lighter because we can build it again, the worst is when you continue to lose and learn nothing to get up. I have experienced an incident, where I traded for almost half the year I continued to lose, from there I began to understand how we should behave when trading.

Make it simple, trading is not gambling so for those people who want to get profit from trading he should have a known against it. It will be useless if there is someone who want to get profit but he knows nothing again it, but I guess this type person is ralely when he start to trade.

If they wan't to learn about trading I guess that is time for them to get out from this field and find another place which suitable with his desire. And I have confident foe those people who still trading he will find and still learn the strategy of trading because at this time the strategy of trading is much. You can find it on youtube channel and other people experiences.