Ruined my account through multiple mistakes

[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.