Ruined my account through multiple mistakes

[Lemmon007]

Have you guys ever ruined your account when you were still a beginner? And by ruined I mean losing everything or a very big part of it. I started trading like 3 months ago and made my first deposit 2 months ago. After 150+ trades through the course of 1 month I managed to get my 4000$ initial investment to 7000$. Needless to say I was over the moon and I got overconfident. I invested more than usual thinking I have a great opportunity right there and even though I had a fixed plan with certain stop losses in place for every trade, after the price went against my prediction I still hold onto it thinking it will rebound and even added a little more to average down. In the end the price got my stoploss and I was down 3000$ (I don't know how I managed to lose so much in 1 trade). I was very frustrated with my idiocy and I started chasing losses (again like an idiot). Throughout the next 2 weeks I managed to lose another 2400$ by trading while mad (lost most of it when bitcoin went up from 6700 to 8000 at the beginning of the year, shorting it). Now I have only 1600$ left in my account, deeply depressed and afraid to lose even more. I'm afraid that I won't ever make it back and even if I do this is the worst timing possible with the halving rally in sight. I get more depressed even thinking of all the profit those money would have generated if the rally begins. I came here to ask for some advice since I don't trust my decisions anymore and maybe you could give me some insight.

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[semobo]

You are capable of making profits from trading which is show when you made 3000 dollars profits from your capital of 400 which is too huge to be honest but then you started expecting the same kind of profits for your every trade is you biggest mistake IMHO.I think you should continue your trading again and start aiming for smaller and realistic target to achieve in certain time period.

But if you need that capital amount then starts holding on it,once the rally begins it will help you to recover the invested capital amount.

[Lemmon007]

It was 4000 not 400

[harizen]

~snipped~

It's common to feel overconfident when you are managing to get continuous winning streaks. It's like, "Hey this is not tough at all, I can manage this". It's just that when you started losing, your ruined your focus that's why even you have a fixed plan and strategy, you were not able to follow those. And your frustration totally eats as you chase your losses and that's how it ends now.

You know losing is part of the game. There's no way you will avoid it as dealing with crypto's volatility is not as easy as anyone thinks. Even a professional and a long-time trader today still losing their respective position.

Since you are frustrated, I suggest taking a break for now as your mind is not relaxed. Remember that you were able to manage to get a $3,000 profit on your past trades so it means you know how to trade wisely. Charge those mistakes to your experience and make it as your reference. Refresh your mind and make a comeback once you think you are now fully prepared again to take on the challenge.

[ubercool]

It was 4000 not 400

You need to update the main post rather than making a new one and confusing people with a new number.

These things happened to people many times in the past. When you're on a roll, you make more money than expected and then you get over confident and lose more than what you have earned.

[ChrisPop]

First of all don't get mad on yourself, but make a commitment with yourself that you will never ever repeat this mistake again and you will take all the necessary measures to respect this commitment. Remember that the majority of big traders have lost their whole account at least once in their career. If you want to get into trading remember that it is a game of probabilities and risk management is a must. As a rule of thumb I would never risk more than 2% of my account on any particular trade. After all it is about supply and demand and your ability to read that in the charts.

$4000 is not a huge amount, but not small either. You might also want to work on your conception about money - you can always make more of it - through one means or another. Also there will always be the next opportunity. Even if you miss the Bitcoin rally, you will still be able to get on later or find an exceptional company on the stock market that can raise in value as much if you buy it when it is just a penny stock. Or if you can get your trading game right you will be blessed with a lot of opportunities each day.

[semobo]

It was 4000 not 400

Sorry it was a typo,corrected it now.
But its still near to doubling your capital invested so you are capable of doing it that is what I wanted to say.

[nreal]

No one can give you the right advice, I think what you need to do now is stop trading for a certain period of time, which will help you regain your spirits.

[outatime1]

I made mistakes too early on and still do.  My advice is do long term trading rather than day trading.

Just buy some Bitcoin and hold for a year or so.  You will see profits if you do that.

[tenakha]

I made mistakes too early on and still do.  My advice is do long term trading rather than day trading.

Just buy some Bitcoin and hold for a year or so.  You will see profits if you do that.

Yeah, first try to calm down for a while. Then try to understand where and why you made mistake. If you understand these mistakes, think about how you can fix them. Otherwise, as long as you can not see your mistakes, you will always lose because of the same mistakes. And when you are ready to trade again, experiment with smaller amounts. If everything goes well, you can earn much more than your money. Also, do not trade to earn your money back, but because you think it is a good position.

[MURONDI]

take a long time to understand the state of the market, there are times when the market is in an uptrend or downtrend, sometimes the market is stable, sideways or flat, sometimes prices move irregularly, Experienced traders will surely be patient waiting for the right time to enter the market, the money you are trading should not be the main money so you are ready with all the risks, a few years ago it was indeed a tragedy where traders suffered a lot of losses, I myself lost around $ 40000 - $ 50000, I don't know the exact amount of my loss, it's only an estimate, because my loss is in the form of a variety of different altcoins, so you don't need to feel frustrated.

[adroitful_one]

It sounds like you really need to focus on trying to take less profit and selling a lot sooner during a loss. Was there ever any opportunity for you to make any money at all during those times you lost all of that money? You don't have to make 15%+ on every trade that you make. Even just a couple percent profit is a successful trade in my book. Plus, if I ever start to get into a hole and it doesn't look like the coin will recover, I just immediately sell it off. You'll end up making it all back on the next trade or two anyways.

[gabmen]

Have you guys ever ruined your account when you were still a beginner? And by ruined I mean losing everything or a very big part of it. I started trading like 3 months ago and made my first deposit 2 months ago. After 150+ trades through the course of 1 month I managed to get my 4000$ initial investment to 7000$. Needless to say I was over the moon and I got overconfident. I invested more than usual thinking I have a great opportunity right there and even though I had a fixed plan with certain stop losses in place for every trade, after the price went against my prediction I still hold onto it thinking it will rebound and even added a little more to average down. In the end the price got my stoploss and I was down 3000$ (I don't know how I managed to lose so much in 1 trade). I was very frustrated with my idiocy and I started chasing losses (again like an idiot). Throughout the next 2 weeks I managed to lose another 2400$ by trading while mad (lost most of it when bitcoin went up from 6700 to 8000 at the beginning of the year, shorting it). Now I have only 1600$ left in my account, deeply depressed and afraid to lose even more. I'm afraid that I won't ever make it back and even if I do this is the worst timing possible with the halving rally in sight. I get more depressed even thinking of all the profit those money would have generated if the rally begins. I came here to ask for some advice since I don't trust my decisions anymore and maybe you could give me some insight.

Well back then, the value isn't as high as today. Less than 1k per btc, losing won't hurt you that much compared to today's effect. I've made a lot of mistakes as a newbie that included gambling, making emotional decisions, listening and basing my moves on pump and dump groups. I easily lost almost 1 full btc during my first few months. Though those are lessons that, looking back, i should be quite thankful for. It adds up to the experience stash that i'm able to use today.

[djgtr]

take a long time to understand the state of the market, there are times when the market is in an uptrend or downtrend, sometimes the market is stable, sideways or flat, sometimes prices move irregularly, Experienced traders will surely be patient waiting for the right time to enter the market, the money you are trading should not be the main money so you are ready with all the risks, a few years ago it was indeed a tragedy where traders suffered a lot of losses, I myself lost around $ 40000 - $ 50000, I don't know the exact amount of my loss, it's only an estimate, because my loss is in the form of a variety of different altcoins, so you don't need to feel frustrated.

   Sometimes we feel disappointed about the losses we encounter during immediate downfall, through our aggressive action that lead to create mistake but we have to continue our marks as traders enduring forbearances and acceptance. I also gain loses when I am beginner on this field, but I do research to enhance my knowledge on deliberating a benefited outcome.

[Wexnident]

You reap what you sow I guess? Patience is a big factor when trading, and chasing something blindly without considering the possible consequences could lead to disastrous outcomes, such as yours. Instead of taking profit from trading for now, try to think of possibilities where you break even instead. After covering that and you can ensure that you would break even, you could start predicting or analyzing the paths of BTC so that you could profit. Seems like you involve yourself in day trading, so always break even first before considering profit.

[maydna]

I guess all of us have the same experience in our journey in crypto, and many of us have learned from their experience so we can rise and recover the losses. You need to accept the mistakes that you made before, and you know that is the part of learning so you can take it as a lesson which will give you useful information that will help you to make a better result in the future. It is hard, I know, but we should try to wake up and to try to learn from the mistakes, so we can forget the mistakes for achieving what we want.

You should have the power to control yourself so you can prevent overconfident, which is not good at trading. Overconfident will makes you lose control for yourself, and that can prevent you from making a profit. With so much advice from us, only you can help yourself and only you that can solve the problem by build trust inside you.

[chip1994]

Have you guys ever ruined your account when you were still a beginner? And by ruined I mean losing everything or a very big part of it. I started trading like 3 months ago and made my first deposit 2 months ago. After 150+ trades through the course of 1 month I managed to get my 4000$ initial investment to 7000$. Needless to say I was over the moon and I got overconfident. I invested more than usual thinking I have a great opportunity right there and even though I had a fixed plan with certain stop losses in place for every trade, after the price went against my prediction I still hold onto it thinking it will rebound and even added a little more to average down. In the end the price got my stoploss and I was down 3000$ (I don't know how I managed to lose so much in 1 trade). I was very frustrated with my idiocy and I started chasing losses (again like an idiot). Throughout the next 2 weeks I managed to lose another 2400$ by trading while mad (lost most of it when bitcoin went up from 6700 to 8000 at the beginning of the year, shorting it). Now I have only 1600$ left in my account, deeply depressed and afraid to lose even more. I'm afraid that I won't ever make it back and even if I do this is the worst timing possible with the halving rally in sight. I get more depressed even thinking of all the profit those money would have generated if the rally begins. I came here to ask for some advice since I don't trust my decisions anymore and maybe you could give me some insight.

This is common in every new trader. It is important that when you win, you are overconfident and your emotions are not really normal. Besides, you let your plan be broken. you said you had a stoploss plan but broke it and implemented DCA. so you're paying the price for your lack of discipline. If you didn't break the rules, maybe you just lost a few hundred dollars. But now you have lost too much. Next time, you should re-plan and never break it, because the opportunity is numerous, don't regret.
Note: hopefully next time you will put down each paragraph so that everyone can read it.

[Kemarit]

You just have to stop trading for a while just to be able to clear your mind.

As I was saying here, crypto trading is a journey, you can't just go everyday and trade and think that you are going to win. You also have to re-assess everything before continuing. In your case, it's better to reset and just think what went wrong and try to improved your trading strategy. As for the advise as to how you're going to trade, then no one can answer that for you. You are the only person that can answer that, maybe someone will advise you to do this and do that, but it might not work on your end.

[sana54210]

One thing that usually mess up a lot of traders is having too much of confidence. You had over-confidence and you felt like you’re never going to lose again and forgetting the risks that are involved in cryptocurrency and at the end it cost you more than half of your money .

You made everything worse for yourself by trading when you’re angry and chasing after loss, that’s a very bad decision, you shouldn’t be trading when you’re angry because you will be making the wrong trades out of anger and as you boil in anger the more you keep making wrong choices. When you feel angry you should leave trading and relax to chill off the anger and when your mind is back and you’re able to concentrate, then you can go back to trading.

[logfiles]

You let emotions take control of your trading decisions... I also did the same mistake several times before finally learning. In Margin trading, discipline is very important. Loses are part of trading or any aspect of our lives, that shouldn't get you mad or change your initial winning strategy.

Take the loss as a lesson and make sure not make such a mistake again. Always follow your stop loss protocol. It's always better to lose 10% rather than try waiting for the market to bounce and end up losing 50%+. It's far easier to recover the 10% loss than 50%.

You can still recover with the $1600, but you have to restart trading with a clear sober mind. Don't do it when you are frustrated.

[jazmuzika217]

I think you should have more lesson about trading to learn more. I suggest that you need to back to basic that you need to have some research and study about trading. And make some experiment to trade small amount of coin to have an trial and error conclusion and to make you more familliar in trading activity flow.

[Dart18]

Can we call it greed?
You made an error so you have to fill those blanks again.
That is greed for me. You want the money back in just lesser time because you got so much used with profits.

What will be the better thing to do?
Go back from the start.
Think of that $1600 as your initial deposit again.
That way, you can boost yourself into making profit once again.

[wajik-tempe]

Have you guys ever ruined your account when you were still a beginner? And by ruined I mean losing everything or a very big part of it. I started trading like 3 months ago and made my first deposit 2 months ago. After 150+ trades through the course of 1 month I managed to get my 4000$ initial investment to 7000$. Needless to say I was over the moon and I got overconfident. I invested more than usual thinking I have a great opportunity right there and even though I had a fixed plan with certain stop losses in place for every trade, after the price went against my prediction I still hold onto it thinking it will rebound and even added a little more to average down. In the end the price got my stoploss and I was down 3000$ (I don't know how I managed to lose so much in 1 trade). I was very frustrated with my idiocy and I started chasing losses (again like an idiot). Throughout the next 2 weeks I managed to lose another 2400$ by trading while mad (lost most of it when bitcoin went up from 6700 to 8000 at the beginning of the year, shorting it). Now I have only 1600$ left in my account, deeply depressed and afraid to lose even more. I'm afraid that I won't ever make it back and even if I do this is the worst timing possible with the halving rally in sight. I get more depressed even thinking of all the profit those money would have generated if the rally begins. I came here to ask for some advice since I don't trust my decisions anymore and maybe you could give me some insight.

I think this could be every beginner mistakes, patient and not to be greedy is the hardest thing to learn in cryptocurrency trading. Sometimes when we're seeing a coin rising, we have the desire to join the pump because we think the coin's price will still got pump higher and we won't miss that. But most of them are just a bull trap. So i think managing the risk and our assets is the most important thing in crypto trading instead of just learning the technique

[Asmonist]

I had also a somehow reverse experience. After trading for months, I was over confident to hold my funds for a long period. Not checking it anymore and just let it stay until I receive a notice that the site was going to close. Unfortunately, I haven't read the email notice immediately and unluckily I read it after the said due date. I haven't retrieve my funds anymore and I was so disappointed about it. I realize it was also my mistake and trading really needs a full attention.

[Mahanton]

Just only some tips;

~Dont treat trading just like gambling
~If you do find yourself got stressed too much then take a rest or break and try
to analyze your error.Its a matter of trial and error.Dont rush up.
~Dont mind too much on how to chase losses because it will just mess up your analysis
because you do think of this always.
~As mentioned, dont get too overconfident because you might be profitable this day but would lose big time tomorrow.

[Colt81]

Yes i have done a lot of mistakes in trading a multiple times when i was a beginner in trading because my predictions in the market charts are mostly wrong, that is why i lose a lot of money in trading, but i sometimes have a chance to recover all of those losses when my analysis was correct.

[wajik-tempe]

Yes i have done a lot of mistakes in trading a multiple times when i was a beginner in trading because my predictions in the market charts are mostly wrong, that is why i lose a lot of money in trading, but i sometimes have a chance to recover all of those losses when my analysis was correct.

Following other people anaylsis (pro traders ofcourse) would be a nice option if we don't have any experience in trading at first. Because it will lower risk and also we'll be more confident with our trades and not become panic when the whales are playing with the market. And ofcourse it's better than gambling without any knowledge in trading. trading with just feeling is the worst

[Savemore]

Yes i have done a lot of mistakes in trading a multiple times when i was a beginner in trading because my predictions in the market charts are mostly wrong, that is why i lose a lot of money in trading, but i sometimes have a chance to recover all of those losses when my analysis was correct.

Following other people anaylsis (pro traders ofcourse) would be a nice option if we don't have any experience in trading at first. Because it will lower risk and also we'll be more confident with our trades and not become panic when the whales are playing with the market. And ofcourse it's better than gambling without any knowledge in trading. trading with just feeling is the worst

It is not a nice option for me, there are self proclaimed professional traders so I do not easily believe to the post of other people in the internet. Having knowledge is important but the most important is we should not depend our decisions on others, we are the one who should create our won decisions. Mistakes are inevitable but we can use our mistakes in order to protect our funds in the near future.

[Eternad]

I had also a somehow reverse experience. After trading for months, I was over confident to hold my funds for a long period. Not checking it anymore and just let it stay until I receive a notice that the site was going to close. Unfortunately, I haven't read the email notice immediately and unluckily I read it after the said due date. I haven't retrieve my funds anymore and I was so disappointed about it. I realize it was also my mistake and trading really needs a full attention.

This is so sad, many exchanges were closing, there are many projects that were closing that loses the value of their token. We need to be updated now since many do exit scam. We should know how to manage our time to read news and be updated in all of our investments. It's difficult when they already gone especially if you have bigger investments. Some of my bounty coins were loss in value now, didn't sell it those time they high that's my mistake that I want to forget

[shoreno]

there was a saying that one mistake cant fix the other one . that saying happened on you because you think it can solved your problem but it only make the problem more worst . 

as a newbie its okay to commit mistake but you as a newbie you learn fast because within a month only you already doubled what you invest and you said you are aware about stopping ? but your failure was not following it .

[nicolas1979]

Don't push too hard, trading is alternative income not primary. When you break account because some mistake or market defeat you stay realistic is the right step for you. Accept that as reality and find the solution next day, not right now. Second step is you need to realize trading is not always get profit, so find another way to make money out side trading world is good step. This time you need to relax, leave the market now do your hobbies and came back again when ready. In desperate condition, tired and boring can make trader doing something stupid, avoid that before bankrupt is yours.

[panganib999]

Nothing you can really do about that. There's the euphoria in earning quite big sometimes and you can't really help but think, what if I can win more? What if I can actually duplicate this amount again? kind of thing, which I think all of us has experienced at least once. There are a lot of ways to counter these problems such as forcing yourself to face reality, studying the possibilities, or just plain "I'm satisfied with what I have" attitude. That's just the way trading is.
As for the rally this halving, Accumulate. By the end of the year should be the time for your comeback, but could be a small margin only though. Still, your a day trader so this may not apply to you sadly enough. It's kinda difficult to see the market daily since there are a lot of changes.

[TitanGEL]

But sometimes more losses can motivate us to become a profitable trader. I do not afraid to have losses because it makes me a strong trader. My trading psychology is becoming more strong because of my losses. You have huge losses and it seems that you will not easily regain all of the losses but you should not quit and the reason why you lose that big is because you need to improve something in order to avoid that situation again in the near future.

[Negotiation]

With so many people like this I think it's good to stop your current trade Because you've already lost a lot You need to research and practice different places to know the trade better Hold on as much as you have and you will be able to make a good profit. Set a good time for business and try to invest in capital.

[Ahimoth]

Can we call it greed?
You made an error so you have to fill those blanks again.
That is greed for me. You want the money back in just lesser time because you got so much used with profits.

What will be the better thing to do?
Go back from the start.
Think of that $1600 as your initial deposit again.
That way, you can boost yourself into making profit once again.

Before deciding to start all over again, always remember thar we must move on and set aside those mistakes as your learned lesson. On that amount of $1600, think of lowering the initial deposit to $50 or $100 while on the recovery stage.
Move on and be careful on the next chapters of trading.

[carlfebz2]

But sometimes more losses can motivate us to become a profitable trader. I do not afraid to have losses because it makes me a strong trader. My trading psychology is becoming more strong because of my losses. You have huge losses and it seems that you will not easily regain all of the losses but you should not quit and the reason why you lose that big is because you need to improve something in order to avoid that situation again in the near future.

It depends because not all people would have the same mindset when it comes to learning where
they do treat up their mistakes just like it was the end of the world or they do think that they are complete
failure and ends up to be a reason for them to quit totally.For some they do accept losses and defeat and
learn from it and these are the type of people who do succeed where giving up isn't included into their
vocabulary.Just take things slowly and don't rush up because it will really cause too many mistakes.

[Sadlife]

This was also me when i was a beginner, in the beginning it was nice and easy and i am earning some profits without any in depth knowledge with a simple technique, i could win with buy and sell strategy. Then it got all turned around when i went to greedy. The price was being oversold and i thought of holding it and not planning to exit i thought it would reach some crazy price but it fallen really hard and after that the same as you did "chasing losses."

Two things i learned in trading never get emotional and greedy.

[luckyflop]

In this market, you need to be calm when trading. If you are impatient and not calm then surely you will only take failure and continuously lose money. First you need to learn how to control yourself and keep yourself awake, because you have made a profit in this market so I believe you will quickly recover your previous investment with a stable mind. In this market failure and success always go together so don't be scared and discouraged. Failure will make you more experienced and in the future you will not make that mistake

[Baby Dragon]

But sometimes more losses can motivate us to become a profitable trader. I do not afraid to have losses because it makes me a strong trader. My trading psychology is becoming more strong because of my losses. You have huge losses and it seems that you will not easily regain all of the losses but you should not quit and the reason why you lose that big is because you need to improve something in order to avoid that situation again in the near future.

It depends because not all people would have the same mindset when it comes to learning where
they do treat up their mistakes just like it was the end of the world or they do think that they are complete
failure and ends up to be a reason for them to quit totally.For some they do accept losses and defeat and
learn from it and these are the type of people who do succeed where giving up isn't included into their
vocabulary.Just take things slowly and don't rush up because it will really cause too many mistakes.

We have different levels of perception and you can't literally assure that they will take their mistakes as a lesson and guide to help them make a wiser decision. We accept our mistakes and experiences in different ways, some of them accepted it by considering it as one thing to consider before making an actions or any decisions and some of them just disregard it without even realizing that the incident can also help them change themselves into a stronger and wiser person. It usually happens for people who doesn't have enough understanding when it comes to trading, sometimes mistake isn't bad because they can also make you analyze what went wrong and you can used it as guide to avoid doing the same mistake.

[ethereumhunter]

I think you really need to learn how to control yourself and not greed for chasing the profit. Remember that you should avoid overconfident because you already got that experience, and I am sure that you don't want to get the same experience. In trading, you can get a big profit in one trade, but if you are greedy, your profit will disappear because you are late to sell and take the profit. You should know that only use the money you can afford in trading, so if you lose, you can accept the loss, and you can move on and try to recover the losses.

[Mumbeeptind1963]

Have you guys ever ruined your account when you were still a beginner? And by ruined I mean losing everything or a very big part of it. I started trading like 3 months ago and made my first deposit 2 months ago. After 150+ trades through the course of 1 month I managed to get my 4000$ initial investment to 7000$. Needless to say I was over the moon and I got overconfident. I invested more than usual thinking I have a great opportunity right there and even though I had a fixed plan with certain stop losses in place for every trade, after the price went against my prediction I still hold onto it thinking it will rebound and even added a little more to average down. In the end the price got my stoploss and I was down 3000$ (I don't know how I managed to lose so much in 1 trade). I was very frustrated with my idiocy and I started chasing losses (again like an idiot). Throughout the next 2 weeks I managed to lose another 2400$ by trading while mad (lost most of it when bitcoin went up from 6700 to 8000 at the beginning of the year, shorting it). Now I have only 1600$ left in my account, deeply depressed and afraid to lose even more. I'm afraid that I won't ever make it back and even if I do this is the worst timing possible with the halving rally in sight. I get more depressed even thinking of all the profit those money would have generated if the rally begins. I came here to ask for some advice since I don't trust my decisions anymore and maybe you could give me some insight.

You must fix yourself, you are losing a lot of money, by being unstable with your emotions. We need to be mentally healthy too when trading or gambling. You need to change your strategy as well, but for now you need to take a rest, and realized what you have done and you lose so many money. Also accept that we all do mistake, I myself nearly had lost a 1btc in 2018 and now I learned from that mistake and will not do the same way again.

[sisule]

Have you guys ever ruined your account when you were still a beginner? And by ruined I mean losing everything or a very big part of it. I started trading like 3 months ago and made my first deposit 2 months ago. After 150+ trades through the course of 1 month I managed to get my 4000$ initial investment to 7000$. Needless to say I was over the moon and I got overconfident. I invested more than usual thinking I have a great opportunity right there and even though I had a fixed plan with certain stop losses in place for every trade, after the price went against my prediction I still hold onto it thinking it will rebound and even added a little more to average down. In the end the price got my stoploss and I was down 3000$ (I don't know how I managed to lose so much in 1 trade). I was very frustrated with my idiocy and I started chasing losses (again like an idiot). Throughout the next 2 weeks I managed to lose another 2400$ by trading while mad (lost most of it when bitcoin went up from 6700 to 8000 at the beginning of the year, shorting it). Now I have only 1600$ left in my account, deeply depressed and afraid to lose even more. I'm afraid that I won't ever make it back and even if I do this is the worst timing possible with the halving rally in sight. I get more depressed even thinking of all the profit those money would have generated if the rally begins. I came here to ask for some advice since I don't trust my decisions anymore and maybe you could give me some insight.

You must fix yourself, you are losing a lot of money, by being unstable with your emotions. We need to be mentally healthy too when trading or gambling. You need to change your strategy as well, but for now you need to take a rest, and realized what you have done and you lose so many money. Also accept that we all do mistake, I myself nearly had lost a 1btc in 2018 and now I learned from that mistake and will not do the same way again.

Many investor can't control their emotion because looking altcoin have higher price keep holding and panic time when assets back with lower price, I try this moment several time and now I could control my soul how really get little profit very time in bitcoin trading but keep continue than have waiting with long time because our assets hold with lower price.

[beerlover]

What you should remember is that even with good trades you may end up losing most of your money if you are not careful enough with the trading fee and withdrawal fee eating a huge chunk of your money as well.

When you make just enough or sell for the same price, the trading fee calculated could end up being a loss as well. That is why I tell people who get into trading fairly new and decided to make hundreds of trades like you, when you calculate the trading fee for all of that combined it would make a lot of money, and I mean a lot of money as in hundreds of dollars.

Of course, you can have some bad trades as well but if you consider how much you lost to fee's then you will realize that you wouldn't be as down as you are right now without them as well. Buying and holding is the most clear cut way of making money without spending too much time and money along the way.

[adaseb]

Since you are a new trader its considered normal to lose money. Just be lucky its only $4000 because if it was $40,000 or $400,000 you most likely would of lost the same % of money.

What you said its fairly typical of most new traders. They basically get lucky and think they know the markets well and they take larger and larger trades until they get into a losing streak. Then what happens they start to lose their profits, and then their initial investment and that's when fear comes in and it causes even more losses.

Gamblers and traders for some reason don't mind losing profits but they hate to lose their own initial trading funds. And they will overleverage themselves "Just to break-even and quit" however most of the time they end up losing more and more and end up blowing up their accounts.

[DevilSlayer]

If you ruined your portfolio then do not lose hope because you will still regain your losses if you will focus on enhancing your skills. You lose because there is something wrong and you should aware of that. The best way to know in what part did you always keeping making mistakes is by journalizing, you should record all of your past trades and you can find out what's wrong with your strategies and your execution.

[topbitcoin]

Have you guys ever ruined your account when you were still a beginner? And by ruined I mean losing everything or a very big part of it. I started trading like 3 months ago and made my first deposit 2 months ago. After 150+ trades through the course of 1 month I managed to get my 4000$ initial investment to 7000$. Needless to say I was over the moon and I got overconfident. I invested more than usual thinking I have a great opportunity right there and even though I had a fixed plan with certain stop losses in place for every trade, after the price went against my prediction I still hold onto it thinking it will rebound and even added a little more to average down. In the end the price got my stoploss and I was down 3000$ (I don't know how I managed to lose so much in 1 trade). I was very frustrated with my idiocy and I started chasing losses (again like an idiot). Throughout the next 2 weeks I managed to lose another 2400$ by trading while mad (lost most of it when bitcoin went up from 6700 to 8000 at the beginning of the year, shorting it). Now I have only 1600$ left in my account, deeply depressed and afraid to lose even more. I'm afraid that I won't ever make it back and even if I do this is the worst timing possible with the halving rally in sight. I get more depressed even thinking of all the profit those money would have generated if the rally begins. I came here to ask for some advice since I don't trust my decisions anymore and maybe you could give me some insight.

Just keep believe with yourself. What you need is take a rest and wait for good moment, good mood and good price to buy. Because if we keep depressed and force to do trading, it will be worse than you already did. Believe if you can reach that profit again will really help you into your trading activity.

[Genemind]

I also had the same experience and to be honest, it's just part of the learning process. Sometimes our mistakes could turn into lessons especially in trading. We can't do trading perfectly for the first time so we need to learn everything about it continuously. Trading is a long process of learning and we can't rely upon the decisions of others. we should deal with every market situation for us to learn more about it.

[oktana]

when we get big losses and even move worse, what must be done is to calm down by maintaining assets.

the thing to consider in that condition is to check the trend, whether bearish is very active, or only in a few days. it would be wise to exchange it with Usdt first and wait for calmer momentum. maybe everyone has experienced it, but experience must also make us think to understand more things that we are not good at.

[Ridwan Fauzi]

A few days ago there is someone who give this article https://www.liberatedstocktrader.com/why-traders-fail-in-online-forex-trading/ and I think it is very useful article.

Sometimes you need other people's suggestion actually you have to ask how the professional trader manage their money. Because in my mind, trading is not about how good your strategy is but you need another important part such as how you manage your emotion while you trading.

[alyssa85]

Have you guys ever ruined your account when you were still a beginner? And by ruined I mean losing everything or a very big part of it. I started trading like 3 months ago and made my first deposit 2 months ago. After 150+ trades through the course of 1 month I managed to get my 4000$ initial investment to 7000$. Needless to say I was over the moon and I got overconfident. I invested more than usual thinking I have a great opportunity right there and even though I had a fixed plan with certain stop losses in place for every trade, after the price went against my prediction I still hold onto it thinking it will rebound and even added a little more to average down. In the end the price got my stoploss and I was down 3000$ (I don't know how I managed to lose so much in 1 trade). I was very frustrated with my idiocy and I started chasing losses (again like an idiot). Throughout the next 2 weeks I managed to lose another 2400$ by trading while mad (lost most of it when bitcoin went up from 6700 to 8000 at the beginning of the year, shorting it). Now I have only 1600$ left in my account, deeply depressed and afraid to lose even more. I'm afraid that I won't ever make it back and even if I do this is the worst timing possible with the halving rally in sight. I get more depressed even thinking of all the profit those money would have generated if the rally begins. I came here to ask for some advice since I don't trust my decisions anymore and maybe you could give me some insight.

That's where you went wrong - never ever trade more than 1/10th of your stash. It's all about risk management and ensuring that you don't lose so much you are out of the game. You should have also taken your initial investment out after you hit $7000. After that you'd have been trading only with your winnings and your losses wouldn't have been so unbearable.

[LogitechMouse]

I will just assume that you are a newbie because if you are not then you will not post thread like this here .

As a newbie in trading, losses are inevitable so you will experience losses along the way. I see 2 mistakes that you did.
1. You are a newbie and yet you invested a huge amount of money. Now that you lost, you can't take it. As a newbie, just invest a small amount of money first.
2. You trade using your emotions instead of your strategy (if there is). One mistake of a newbie is they are trading thru their emotions and you saw the end result of it .

Take this as a learning and at the same time, try to research more and then go back to trading if you still want to trade. If not then find another way to earn cryptos .

[Reid]

That's awful. Sorry for what happened with you.

Mistakes can be done when you are using your emotions and I think at this case you did. (base on your story)
You have the tendency to gamble more when you see profits are getting larger which is wrong.
Should've just stayed with one path until you can really feel the profit or ROI is already there.
You did get it right?
It is just that, you didn't keep it but instead used it to make a higher income.
This is a good lesson though.

[Soots]

I also had the same experience and to be honest, it's just part of the learning process. Sometimes our mistakes could turn into lessons especially in trading. We can't do trading perfectly for the first time so we need to learn everything about it continuously. Trading is a long process of learning and we can't rely upon the decisions of others. we should deal with every market situation for us to learn more about it.

If we're a trader it's good to grab every single opportunity while it was there, because based on I had experience lastly I didn't able to decide in a smart way while my holdings has been profitable during the last bullrun. That's true that trading had been a long process, and now it was a very tough experience seeing bitcoin's volatility.
I couldn't count those times I was in a deep regret which eventually made me more depressed, but I need to move on to survive and hope to see more good future fro cryptocurrency.

[AniviaBtc]

Have you guys ever ruined your account when you were still a beginner? And by ruined I mean losing everything or a very big part of it. I started trading like 3 months ago and made my first deposit 2 months ago. After 150+ trades through the course of 1 month I managed to get my 4000$ initial investment to 7000$. Needless to say I was over the moon and I got overconfident. I invested more than usual thinking I have a great opportunity right there and even though I had a fixed plan with certain stop losses in place for every trade, after the price went against my prediction I still hold onto it thinking it will rebound and even added a little more to average down. In the end the price got my stoploss and I was down 3000$ (I don't know how I managed to lose so much in 1 trade). I was very frustrated with my idiocy and I started chasing losses (again like an idiot). Throughout the next 2 weeks I managed to lose another 2400$ by trading while mad (lost most of it when bitcoin went up from 6700 to 8000 at the beginning of the year, shorting it). Now I have only 1600$ left in my account, deeply depressed and afraid to lose even more. I'm afraid that I won't ever make it back and even if I do this is the worst timing possible with the halving rally in sight. I get more depressed even thinking of all the profit those money would have generated if the rally begins. I came here to ask for some advice since I don't trust my decisions anymore and maybe you could give me some insight.

I think this could be every beginner mistakes, patient and not to be greedy is the hardest thing to learn in cryptocurrency trading. Sometimes when we're seeing a coin rising, we have the desire to join the pump because we think the coin's price will still got pump higher and we won't miss that. But most of them are just a bull trap. So i think managing the risk and our assets is the most important thing in crypto trading instead of just learning the technique

Patience can be achieved through practicing your self-discipline because the only thing that is your enemy in trading is GREED. Being greedy will really lead you to huge amount of losses and opportunities because making an action without thinking the possible outcome or consequences will make you feel blank after a mistakes. Then that's the time that you will regret something for losing a certain amount of money that's why planning is also important before anything else. And also look for the price and charts in the market that can be served as a guide to your trading.

[Hamphser]

This is usually happening to newbies when they practice trading through the real market without any small knowledge of what is the basics. There are sites that is designated for trading practice only and OP probably missed that. I myself can tell that i do experience this kind of stupidity before but it's important that we must learn to our mistake so we will not be doing the same thing over and over again.

[Cacingkemi]

You must continue to trade to be able to regain the profits you have previously made, even though it takes a long time to be able to achieve the profit target as before, at least the trade you are doing now must be more careful and not in a hurry to be able to aim at profits big one in a short amount of time

[isaac_clarke22]

~

Saying that "thinking it will rebound" is common for us, that it turn us to greed from the "overconfidence" you stated. Don't be desperate to chase your losses if it didn't work out in the first place. It's just like you put a rubbing alcohol to your wound. That's me when I was day trading, OP. I can't say it was exact but it was almost related to how overconfident I had become just because I had like 3k of capital that day.

[Oceat]

You must continue to trade to be able to regain the profits you have previously made, even though it takes a long time to be able to achieve the profit target as before, at least the trade you are doing now must be more careful and not in a hurry to be able to aim at profits big one in a short amount of time

I don't think that's the right decision to make if OP doesn't eliminate or fix the problem first of his actions it will going to get back again and again. Trading is not just buying and selling, one must know where they messed up and know how to fix it then continue to do their next strategy. Trading and trading without looking what is the problem is the quickest way to burn out your capital.

[huige007]

I will just assume that you are a newbie because if you are not then you will not post thread like this here .

As a newbie in trading, losses are inevitable so you will experience losses along the way. I see 2 mistakes that you did.
1. You are a newbie and yet you invested a huge amount of money. Now that you lost, you can't take it. As a newbie, just invest a small amount of money first.
2. You trade using your emotions instead of your strategy (if there is). One mistake of a newbie is they are trading thru their emotions and you saw the end result of it .

Take this as a learning and at the same time, try to research more and then go back to trading if you still want to trade. If not then find another way to earn cryptos .

you are right for newbie  better to start from the small steps. First of all, do not prefer investing large amount of money as it is quite sudden and unpredictable that what change is going to occur in terms of the value of the currency you are currently investing into. So, take consultancy from the ones who are experienced and do not prefer to use your coins quickly.try to hold them for some time.

[KnightElite]

I will just assume that you are a newbie because if you are not then you will not post thread like this here .

As a newbie in trading, losses are inevitable so you will experience losses along the way. I see 2 mistakes that you did.
1. You are a newbie and yet you invested a huge amount of money. Now that you lost, you can't take it. As a newbie, just invest a small amount of money first.
2. You trade using your emotions instead of your strategy (if there is). One mistake of a newbie is they are trading thru their emotions and you saw the end result of it .

Take this as a learning and at the same time, try to research more and then go back to trading if you still want to trade. If not then find another way to earn cryptos .

you are right for newbie  better to start from the small steps. First of all, do not prefer investing large amount of money as it is quite sudden and unpredictable that what change is going to occur in terms of the value of the currency you are currently investing into. So, take consultancy from the ones who are experienced and do not prefer to use your coins quickly.try to hold them for some time.

The preferable investment of the newbies is below $1000, newbies cannot put a huge amount of money in their first investment because mistakes are inevitable. Newbies are required to study the market very well in order to get used to handling risks and also to become familiar in the market. Identify what kind of a trader/investor are you is the best way to become a successful trader.

[rima28]

If you want to get trading  remember that it is a game of probabilities .and risk I have a great opportunity right here and even thought I had a fixed plan with certain top losers in place for every trade after the price point against my production I still holding to eat thinking it with rebound and even had a little more towards down to Everest down I am afraid that I won't even take it break and even it I do this is the toss timing possible having really inside I get more depressed even thinking of all the profeet those money would have generated it the really big guns I came here to ask for some advice since I don't trust my decision anymore and maybe you could give me some insight.

[otundebis]

Self discipline is the ultimate trading skill that I have ever known! It is important to understand that trading all the time will lead to a serious mistake. There is no way you will make the right decision all the time,  there are factors that are beyond your control.  If your strategy works, you should take a break and enjoy your profit before you resume trading!

[arbifahrozy]

In trading, every time most of the traders lost their money just due to having more greed, it is the only thing , if we have some ability to stop it then only we can get success and go to the place where we can but controlling our greed is the main thing in trading, as you said you had make a huge profit but you want to earn more, which leads you to loss.

[palle11]

Have you guys ever ruined your account when you were still a beginner? And by ruined I mean losing everything or a very big part of it. I started trading like 3 months ago and made my first deposit 2 months ago. After 150+ trades through the course of 1 month I managed to get my 4000$ initial investment to 7000$. Needless to say I was over the moon and I got overconfident. I invested more than usual thinking I have a great opportunity right there and even though I had a fixed plan with certain stop losses in place for every trade, after the price went against my prediction I still hold onto it thinking it will rebound and even added a little more to average down. In the end the price got my stoploss and I was down 3000$ (I don't know how I managed to lose so much in 1 trade). I was very frustrated with my idiocy and I started chasing losses (again like an idiot). Throughout the next 2 weeks I managed to lose another 2400$ by trading while mad (lost most of it when bitcoin went up from 6700 to 8000 at the beginning of the year, shorting it). Now I have only 1600$ left in my account, deeply depressed and afraid to lose even more. I'm afraid that I won't ever make it back and even if I do this is the worst timing possible with the halving rally in sight. I get more depressed even thinking of all the profit those money would have generated if the rally begins. I came here to ask for some advice since I don't trust my decisions anymore and maybe you could give me some insight.

Lol every trader must have this kind of experience before you get stronger in trade. I laughed because it is not a new story but whatever how much you have left, don't panic if you have made profit before then you retrace your steps back to the pattern you have made the profit with.

You can check if you have been trading wrongly and have also made profit wrongly because there is a way that you trade and make profit but it is a wrong way and if you continue trading that you then you have that problem of losing that you get confused and can't trace the fault. Now either you have been trading without using STOPLOSS if you have been trading with stoploss you keep to it.

So this can be the reason you suddenly started making losses because if you trade wrongly, you can initially make profit but it is not sustainable.

1. Trade with stoploss: Use a small stoploss and higher take profit.

2. Martingale will drain your account if it goes wrong.

3 High leverage is risky.

4. Money management saves you from heart break 

You have to trade base on your account so you can wake up and see left over to start up with again.

[Peanutswar]

In trading, every time most of the traders lost their money just due to having more greed, it is the only thing , if we have some ability to stop it then only we can get success and go to the place where we can but controlling our greed is the main thing in trading, as you said you had make a huge profit but you want to earn more, which leads you to loss.

Every trader starts with the different and same mistakes those losses gives us different lessons to learn just to make sure we avoid or not commit the same mistake on it. Sometimes one of the common is become greedier like we already gained profit but still at the end of the day there's an urge to earn more so we wait for more time that causes to make another disaster comes to losses. This kind of mental behavior is not quite healthy sometimes its better to always stick to the trading plans to prevent getting trouble losing assets.

[Mpamaegbu]

Have you guys ever ruined your account when you were still a beginner? And by ruined I mean losing everything or a very big part of it.

Yes, I have an idea what you're saying. Experienced complete loss too.

Needless to say I was over the moon and I got overconfident.

That's usually where the problem starts – overconfidence. Remember that pride goes before a fall. It's always that way in every human endeavour. You get too confident and you lose it.

I was very frustrated with my idiocy and I started chasing losses (again like an idiot).

That was the right prop you needed to exit the market and take a break to review your trading plan and strategy. Well, you've learnt your lesson. Next time, don't chase the market to revenge. Those who do that always end up as losers.

[leea-1334]

This kind of mental behavior is not quite healthy sometimes its better to always stick to the trading plans to prevent getting trouble losing assets.

Sometimes? It is always better all of the time. Trading plans and strategies should think of all possibilities and scenarios,,, and then prepare a step-by-step action sequence to take in all those situations.

The learnings from real trading is to see events and scenarios you did not predict and to adjust the trading plan accordingly.

[Webetcoins]

Trading plans and strategies should think of all possibilities and scenarios,,, and then prepare a step-by-step action sequence to take in all those situations.

The learnings from real trading is to see events and scenarios you did not predict and to adjust the trading plan accordingly.

Unfortunately no one is ready to take time to go for profit-making in trading in step-by-step manner but they want big profits in quick time which must be the simple reason why most of the traders are losing all their capital in very short period of time itself. Trading is definitely profitable only for the people who are spending more time for analyzing the market directions. But, people are simply going for buying signal from third party and and then losing money in market pressure because they do not have any skills to handle unexpected market conditions.

[LUCKMCFLY]

We must not give up if the ceunta is ruined, there is something that has to be saved from this, otherwise it is because trading is not for the person, if the person ruined the ceunta it is because first they were not in the correct direction of the market In each loss he had to have learned for what reason he lost, if this was not learned, it is because he needs a lot of knowledge, and the best knowledge he gets is through books, trading academies help but not as well as own knowledge and that produces argumentation based on events that have already happened and helps to have much more security.

[Slow death]

Name: Lemmon007
Posts: 2
Activity: 2
Merit: 0
Position: Newbie
Date Registered: January 10, 2020, 02:00:45 PM
Last Active: January 20, 2020, 07:07:48 PM

thread creation date: January 10, 2020, 03:57:45 PM

OP must have given up on trading and at these times he must be sadder because the price of bitcoin has increased a lot since the day he made this thread

[Findingnemo]

OP must have given up on trading and at these times he must be sadder because the price of bitcoin has increased a lot since the day he made this thread

Patience is the virtue 

Being lazy is not a big crime especially when it comes to cryptocurrencies because more longer we wait then more profits we can expect from our investments.

[gabbie2010]

In trading, every time most of the traders lost their money just due to having more greed, it is the only thing , if we have some ability to stop it then only we can get success and go to the place where we can but controlling our greed is the main thing in trading, as you said you had make a huge profit but you want to earn more, which leads you to loss.

Every trader starts with the different and same mistakes those losses gives us different lessons to learn just to make sure we avoid or not commit the same mistake on it. Sometimes one of the common is become greedier like we already gained profit but still at the end of the day there's an urge to earn more so we wait for more time that causes to make another disaster comes to losses. This kind of mental behavior is not quite healthy sometimes its better to always stick to the trading plans to prevent getting trouble losing assets.

My own mistake in trading is over trading when I started as a newbie always wanting to take as many trade as possible consequently ended up losing my portfolio, thereafter I researched and came up with a strategy using a 8 hour time this enable me to trade less and having few period of  time to analyze my chart before entering the trade, OP ought to have traded less study all the losing trade thus if there is a mistake endeavor to find ways preventing or avoiding such a mistake in the future.
More so I always ensured that I withdraw all the profits made and exchange it majority of the profits to fiat.

[darewaller]

OP must have given up on trading and at these times he must be sadder because the price of bitcoin has increased a lot since the day he made this thread

I would say that there has been a lot of drops since he created his topic as well. I mean we are in a good mood right now and the price is going up and that is a great thing but the reality is that we are also in a situation where we had a period where we dropped from 63k to 30k as well.

Yes, he could have made a lot of money from us going from 30k to 60k+ right now, or he could have lost a lot of money from the period where we moved from 60k to 30k as well. We do not know which one he was more included in and that is why we could only make some guesses but we do not know what he did.

For example, overall I made a good profit during this period, but without the last month I would be in a big loss as well, wouldn't be really in a loss since I bought my coins earlier but I would at least be not at the peak and would have lost from the profits I made.

[stomachgrowls]

If you want to get trading  remember that it is a game of probabilities .and risk I have a great opportunity right here and even thought I had a fixed plan with certain top losers in place for every trade after the price point against my production I still holding to eat thinking it with rebound and even had a little more towards down to Everest down I am afraid that I won't even take it break and even it I do this is the toss timing possible having really inside I get more depressed even thinking of all the profeet those money would have generated it the really big guns I came here to ask for some advice since I don't trust my decision anymore and maybe you could give me some insight.

You do talk about Everest down which it should be "Average down". Am i right? As a trader then you would really come into a point on where you would really thought that anytime you do
make decisions it turns out to be bad which would result that you would really having those things in mind on quitting or you dont trust up anymore of your decisions
but doesnt mean that it would be ideal on asking out others methods because that wont really change a thing.

Word of encouragement would might do but not totally on copying others ways because it isnt a guarantee that it would work for you either.Thing here is that you
should study up your mistakes and realize and try to reverse those decisions.

Its a matter of trial and error imho!

[Hobo66]

As a beginner i make much more omission but now i can effortlessly make gain as i know much about trading platforms. Success in any sector or field may be achieved by forbearance as well as ideas about that sector. I gain experience from all my faults that i have made during trading because trading is very difficult and it must takes much time to realize about it.

[Rengga Jati]

I am sure that everybody has made certain mistake at the past, both very bad mistakes and also standard mistakes.
I personally has the same mistakes, not only once but several times, that made loss of my assets and money at that time.
Being impatient, being too greedy, careless, panic, and others that drove me to do something irresponsible, losing account security, losing money in trading, and many more.
And you know, I  know that if somebody makes similar mistake it means that he doesn't learn from its first mistakes, And that is what happened to me, again I lost several times because the similar mistakes. And I really regret these mistakes.
Losing start from 10$ to around $500 for me is very high.
And from those mistakes, I really get many lessons, learn many things that drive me to be more careful, smarter, wiser, responsible, and also think twice before deciding something.

[Ararbermas]

As a beginner i make much more omission but now i can effortlessly make gain as i know much about trading platforms. Success in any sector or field may be achieved by forbearance as well as ideas about that sector. I gain experience from all my faults that i have made during trading because trading is very difficult and it must takes much time to realize about it.

doing mistakes is part of every traders experienced. Or should i say it's part of the game! Because even experts can do mistakes as well. . indeed without such things we cannot get lessons how to prevent losses in trading.. Mistakes can make traders smart and very confident! So don't blame your self when it comes to it because no one's perfect.. Always practice your strategies instead and keep gaining more information and of course learn from your mistakes always because that's the one of the key to become successful as well.. Just don't give up!

[judaspriest]

As a beginner i make much more omission but now i can effortlessly make gain as i know much about trading platforms. Success in any sector or field may be achieved by forbearance as well as ideas about that sector. I gain experience from all my faults that i have made during trading because trading is very difficult and it must takes much time to realize about it.

doing mistakes is part of every traders experienced. Or should i say it's part of the game! Because even experts can do mistakes as well. . indeed without such things we cannot get lessons how to prevent losses in trading.. Mistakes can make traders smart and very confident! So don't blame your self when it comes to it because no one's perfect.. Always practice your strategies instead and keep gaining more information and of course learn from your mistakes always because that's the one of the key to become successful as well.. Just don't give up!

Mistakes are common for traders and basically it can happen to anyone,
everyone must have a tolerance limit to his mistakes and I judge a bad mistake is when we make the same mistakes over and over again,
so it can be concluded that they didn't learn from those mistakes

[LUCKMCFLY]

As a beginner i make much more omission but now i can effortlessly make gain as i know much about trading platforms. Success in any sector or field may be achieved by forbearance as well as ideas about that sector. I gain experience from all my faults that i have made during trading because trading is very difficult and it must takes much time to realize about it.

I am very glad that I am making profit without much effort, sometimes bad experiences in trading are the best teaching teachers, of course there are people who lose in trading and burn their accounts because when they lose they do not learn anything and that is the way it is. who get the biggest losses. If a person learns everything necessary about trading and applies it, it is different, because that is the way to gain experience, understand the market and transform knowledge into money, because there is nothing uglier than losing and not knowing why.

[Fivestar4everMVP]

Have you guys ever ruined your account when you were still a beginner? And by ruined I mean losing everything or a very big part of it. I started trading like 3 months ago and made my first deposit 2 months ago. After 150+ trades through the course of 1 month I managed to get my 4000$ initial investment to 7000$. Needless to say I was over the moon and I got overconfident. I invested more than usual thinking I have a great opportunity right there and even though I had a fixed plan with certain stop losses in place for every trade, after the price went against my prediction I still hold onto it thinking it will rebound and even added a little more to average down. In the end the price got my stoploss and I was down 3000$ (I don't know how I managed to lose so much in 1 trade). I was very frustrated with my idiocy and I started chasing losses (again like an idiot). Throughout the next 2 weeks I managed to lose another 2400$ by trading while mad (lost most of it when bitcoin went up from 6700 to 8000 at the beginning of the year, shorting it). Now I have only 1600$ left in my account, deeply depressed and afraid to lose even more. I'm afraid that I won't ever make it back and even if I do this is the worst timing possible with the halving rally in sight. I get more depressed even thinking of all the profit those money would have generated if the rally begins. I came here to ask for some advice since I don't trust my decisions anymore and maybe you could give me some insight.

Been a long time and I believe that by now, you must have gotten over your loss.

To other persons reading, this is one of the effects of lack of patience, if only this dude was a bit patient, maybe, just maybe he would have been able to steer his investment to a better direction even after encountering the first accident, I hope alot of us will learn from life stories like this, never allow yourself to become over confident, it is very dangerous, I've personally made this mistake before and it caused me to loose a good amount of money.

[Webetcoins]

Self discipline is the ultimate trading skill that I have ever known! It is important to understand that trading all the time will lead to a serious mistake. There is no way you will make the right decision all the time,  there are factors that are beyond your control.  If your strategy works, you should take a break and enjoy your profit before you resume trading!

Trading all the time also underlines a serious problem; it's that you are not trading because you see an opportunity to earn but you are trading because you feel like you should trade. This is never a good sign for any trader because trading if you realize is the potential of making money where you feel something is simply overpriced or underpriced based on the future potential and price.

In trading, every time most of the traders lost their money just due to having more greed, it is the only thing , if we have some ability to stop it then only we can get success and go to the place where we can but controlling our greed is the main thing in trading, as you said you had make a huge profit but you want to earn more, which leads you to loss.

More greed and also quick panic. It's either you waited for too long to take profits or you panicked too early and cashed in loss/minimal profits, both of the are terrible feelings, And the third common mistake as we already discussed is the urge to trade all the time, without any real motivation or reason.

[Fatunad]

Have you guys ever ruined your account when you were still a beginner? And by ruined I mean losing everything or a very big part of it. I started trading like 3 months ago and made my first deposit 2 months ago. After 150+ trades through the course of 1 month I managed to get my 4000$ initial investment to 7000$. Needless to say I was over the moon and I got overconfident. I invested more than usual thinking I have a great opportunity right there and even though I had a fixed plan with certain stop losses in place for every trade, after the price went against my prediction I still hold onto it thinking it will rebound and even added a little more to average down. In the end the price got my stoploss and I was down 3000$ (I don't know how I managed to lose so much in 1 trade). I was very frustrated with my idiocy and I started chasing losses (again like an idiot). Throughout the next 2 weeks I managed to lose another 2400$ by trading while mad (lost most of it when bitcoin went up from 6700 to 8000 at the beginning of the year, shorting it). Now I have only 1600$ left in my account, deeply depressed and afraid to lose even more. I'm afraid that I won't ever make it back and even if I do this is the worst timing possible with the halving rally in sight. I get more depressed even thinking of all the profit those money would have generated if the rally begins. I came here to ask for some advice since I don't trust my decisions anymore and maybe you could give me some insight.

Been a long time and I believe that by now, you must have gotten over your loss.

To other persons reading, this is one of the effects of lack of patience, if only this dude was a bit patient, maybe, just maybe he would have been able to steer his investment to a better direction even after encountering the first accident, I hope alot of us will learn from life stories like this, never allow yourself to become over confident, it is very dangerous, I've personally made this mistake before and it caused me to loose a good amount of money.

Any excess of things doesnt matter on what it is would really always be giving out that kind of disadvantage or totally wrekt you out if you dont make yourself aware.
Mistakes are the best teachers thats why when we do able to commit it then its really regretable but also be thankful  on which you do know on what you gonna do next.
Even though not all or wont really be directly makes you better but you are going their gradually. You are aware on things along the way on which means
you do lessen out at least the risk involved.