Jamesdila1
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Activity: 686
Merit: 10
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May 29, 2020, 10:14:01 PM |
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Well, we all have that unforgettable memories when we were so dumb because we're too naive about of how is our first trading. Back in the day I remember the time when I did receive some airdrop token I automatically dump it right away since most of the people did it already. Not knowing it would pump from hundred to thousand to hundred thousand but it just drop after some days when it reached hundred thousand but I only sold mine for some hundreds only, imagine if I sell it at hundred thousand? I felt bad and regret my quick decision that time.
I had the same painful experience when I dumped thousands of raiblocks (nano) for a cheap price a few weeks later the price of the coin skyrocketed and I could have made millions from it and I regret my decision ever since 😕 |
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DevilSlayer
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May 30, 2020, 03:37:45 AM |
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It is a tough tasks but I get used to the volatility and that is why I now able to adapt certain changes in the cryptocurrency market. For sure many of us have a bad performances in our first investment or the first trading career but even though we lost some of our money, it is still matter because it can determines our future especially if we focus on our self development and improvement.
There is no wrong on losing at the beginning our trading career, it will only become a wrong if we will not use knowledge that we learned from our previous losses. We should treat bitcoin investment and trading as a serious topic because are money is in the line. If we do notnhabe commitment, for sure we will suffer huge losses.
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davis196
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May 30, 2020, 03:58:45 AM |
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Been trading for quite a while now and it took me time to get to where i am today coming from a noob in trading. Trading cryptocurrencies was one hell of an experience for me  . The first cryptocurrency i traded back in late 2018 was bitcoin and i lost a whole lot of money trading it. I guess i didn't learn enough about the crypto market and the volatility involved before delving into it  . Ever since then, i picked another instrument of choice. I went into the FOREX trading. I plan on coming back into trading cryptocurencies but for now i'm still learning about the crypto market.  It was a painful experience though What was your experience ?There are numerous videos on Youtube about Forex trading being a scam.Do you manage to make any money out of Forex trading?Anyway,I'm not an active cryptocurrency trader now,I used to trade on HitBTC 2 years ago and I lost a small amount of BTC and ETH,so I had to quit.I'm not interested in crypto trading that much right now.Every crypto trader will lose some money in the beginning.This is what I call a "testing budget". How much money have you lost due to cryptocurrency trading,OP? |
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Anish_Rocky
Copper Member
Jr. Member
Offline
Activity: 55
Merit: 5
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May 30, 2020, 05:35:33 AM |
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I have same experience, I lost money in trading in 2017. At that time Bitcoin was at 20K USD. But after that I understand How trading market works, Someone has to lose money to win someone and I am not someone who want to lose money for some other person because I am not much technical person on trading. We should understand market and fluctuation before investing in Trading.
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ethereumhunter
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May 30, 2020, 08:20:34 AM |
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Yes, it's very sad if we get lost in trading because that will be a bad experience for us. But if we can get the lesson, and we know how to prevent the other mistake, that will give us more experience in our trading journey so we can avoid making another mistake. I am sure that almost all traders make a mistake, and they lose their money while trading but I think that can make them wise to decide. If they can have more experience, they will know when the time to trade, and they will be careful to manage the risk.
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Leviathan.007
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May 30, 2020, 09:12:42 AM |
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Considering I started trading Forex I'll skip the first phase and make it short.
In the first 5-6 months of trading crypto currency I lost more than 700USD in trading BTC/USD leveraged mode. But I learned a lot about the difference between Forex and crypto trading. Here I'm almost in first year of trading crypto currencies and I I make real nice profit out of on investment by scalping. However, trading is way too risky and I don't recommend it to anyone who has not enough knowledge especially about money management.
The book helped me a lot during the beginning of trading is technical analysis by John Murphy I suggest everyone to read this book before starting the work with our own money.
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Bright_dhykseen (OP)
Member
Offline
Activity: 84
Merit: 14
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May 30, 2020, 12:02:23 PM |
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Considering I started trading Forex I'll skip the first phase and make it short.
In the first 5-6 months of trading crypto currency I lost more than 700USD in trading BTC/USD leveraged mode. But I learned a lot about the difference between Forex and crypto trading. Here I'm almost in first year of trading crypto currencies and I I make real nice profit out of on investment by scalping. However, trading is way too risky and I don't recommend it to anyone who has not enough knowledge especially about money management.
The book helped me a lot during the beginning of trading is technical analysis by John Murphy I suggest everyone to read this book before starting the work with our own money.
Money management is on key factor in trading. Not every trader has it. |
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LogitechMouse
Legendary
Offline
Activity: 2422
Merit: 1036
Chancellor on brink of second bailout for banks
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May 30, 2020, 01:28:57 PM |
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~
What was your experience ?
We almost experienced the same when I'm starting and we started the same year. We know already what happened last 2018. I tried to invest a small amount of money in trading but before investing on it, I already said to myself that there is a huge chance that I will loss all of these since I'm still a newbie and that is always the case with the newbies and it really did happen. I lost all of my trading capital but didn't felt any regret since I knew it already from the start. I tried trading after that investing another small amount of Bitcoin but I also lost it all and I stopped after that. Like they always say "Trading isn't for everyone especially in crypto". |
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AniviaBtc
Sr. Member
Offline
Activity: 1120
Merit: 272
First 100% Liquid Stablecoin Backed by Gold
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May 30, 2020, 01:46:37 PM |
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It is a tough tasks but I get used to the volatility and that is why I now able to adapt certain changes in the cryptocurrency market. For sure many of us have a bad performances in our first investment or the first trading career but even though we lost some of our money, it is still matter because it can determines our future especially if we focus on our self development and improvement.
Based on my experience, trading is really a tough activity for you in order to earn money or profit. You need to deal with cryptocurrency's volatility in the market, especially bitcoin, the value or price of bitcoin can really change immediately depending on the factors that can affect it. You need to learn how to adjust and adapt depending on the circumstances, it will serves as your guide to overcome and become prepared when you try to trade in the market. There is no wrong on losing at the beginning our trading career, it will only become a wrong if we will not use knowledge that we learned from our previous losses. We should treat bitcoin investment and trading as a serious topic because are money is in the line. If we do notnhabe commitment, for sure we will suffer huge losses.
Losing money is part of a trading, you just need to learn how to deal with it and minimize it so that you can grow every time you trade. Always remember that every mistake is a lesson no matter what cryptocurrency you're using, when you lose, don't forget to adapt and grow, that's just simple as that. |
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SumaiyaSamu
Jr. Member
Offline
Activity: 85
Merit: 1
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May 30, 2020, 02:14:33 PM |
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I love trading cryptocurrency but when i am newbie in cryptocurrency trading system. Than i have lost about $2,500 in another new token. This is a big lost for my future fund and i offset about this trading for new token. But for a long time I didn't have to think about those $2,500. I following the trading instruction and trading signals and I started researching about Bitcoin, Eth, Waves etc. In the end i achieve success and i recovered my $2,500. In my own opinion, this experience will help me for my future trading.
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Upgate
Member
Offline
Activity: 560
Merit: 14
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May 30, 2020, 03:08:09 PM |
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I always advice my friends not to trade on any coin the see. Their are coins that worth trading on immediately while their coins that requires time and patience before you can decide to trade on them. The only problem my friends have is ''FOMO'' they're always in a hurry to trade and it's affecting them tremendously
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coolcoinz
Legendary
Offline
Activity: 2604
Merit: 1103
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May 30, 2020, 04:16:24 PM |
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I always advice my friends not to trade on any coin the see. Their are coins that worth trading on immediately while their coins that requires time and patience before you can decide to trade on them. The only problem my friends have is ''FOMO'' they're always in a hurry to trade and it's affecting them tremendously
I believe that if you're good at it you can trade anything. Some coins are simpluy not worth trading because they continue to go down. You need to first decide which coins have the potential to go up. Some altcoins had its boom and since then continue downward despite a general consolidation trend on the crypto markets. My personal experience was positive, but now I'd rather hold than trade. I'm the kind of guy who can't trade for a long time or will face insomnia and some other health problems. Trading burns me out. |
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Wafilian
Member
Offline
Activity: 345
Merit: 13
Hard work is the most important key to success.
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May 30, 2020, 06:46:38 PM |
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Cryptocurrency trading is very difficult because many times we have seen that in a day or 10-15 minutes It fluctuates a lot. This is why many people buy a coin out of fear and see the loss in a very short time and sell it. Here they make a big mistake which is not seen in the forex or commodity market. But after a few days or months, it is seen that if he had saved the asset, he would not have made a loss and would have gained some. For those who are new to cryptocurrency trading, they should at least gain experience by trading in the Forex or local stock market, then some brokers offer demo trading, Cryptocurrency should be traded after trading in all these brokers.
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joinfree
Sr. Member
Offline
Activity: 1246
Merit: 260
1A6nybMUHYKS6E6Z3eJFm4KpVDdev8BAJL
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May 30, 2020, 07:58:41 PM |
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Trading is not my specialty but from the little that I have learned from friends buy into potential coins when they dip and sell it off when they increase in value. This rule of thumb would save you from pumps and dumps. In addition, buy into coins that have good use cases and have developed products too.
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Crypto Enthusiast supporting innovative ideas for the Liberalization of the world from the Centralized Institutions.
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Sayma83
Member
Offline
Activity: 322
Merit: 12
Iqcash
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May 30, 2020, 08:14:41 PM |
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I joined Crypto Trading in 2016, I had my first trading currency, PKt which I still trade, but the best part is that I have never lost a day in trading, because I mainly trade long time, and this is my Success I have kept the current trading stop, now I have held some currencies, I hope the currencies I hold this year will give me something good, so I have stopped trading, inshaAllah I will start again in 2021.
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drumamat
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May 30, 2020, 09:25:24 PM |
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Been trading for quite a while now and it took me time to get to where i am today coming from a noob in trading. Trading cryptocurrencies was one hell of an experience for me . The first cryptocurrency i traded back in late 2018 was bitcoin and i lost a whole lot of money trading it. I guess i didn't learn enough about the crypto market and the volatility involved before delving into it . Ever since then, i picked another instrument of choice. I went into the FOREX trading. I plan on coming back into trading cryptocurencies but for now i'm still learning about the crypto market. It was a painful experience though What was your experience ?I have no experience in trading as such (of course I understand all this) but to make it a daily occupation, it does not come to this. Also, I do not understand people who advise everyone to study and study but not to trade. I personally think that you need to trade constantly and learn at the same time. This is the only way to learn something. Moreover, those books that were written by traders are no longer relevant as a rule. Therefore, you need to learn on the go. |
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xiboothrezi
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May 30, 2020, 11:29:30 PM |
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Until now I have continued to learn since I started trading around 2015. I learned a lot about losses, profits, managing emotions, managing strategies, etc. Every trading experience is a very valuable experience. I lost a lot in 2018, it made me worse. I lost my confidence in trading, a few weeks only regretted the mistake I made. I am fortunate to have a wife and friends who are always supportive so that I can come to terms with the loss, and start all over again.
So, trading is not easy. The crypto world does provide opportunities, but remember, this isn't all about profit. If you are ready to profit, you must also be prepared to lose.
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MCobian
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May 30, 2020, 11:51:36 PM |
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If you talk about my experience in crypto trading, of course, the story will be very long. Like most people I started to get serious
crypto trading in 2017, when cryptocurrency was at its peak. Even bitcoin reaches an all time high price, at that time I also felt the
biggest profit during my crypto trading. Unfortunately now crypto trading has not yet risen like when in 2017. Hopefully in 2021
as predicted by many people cryptocurrency will rise again, and all of us can feel a big profit again.
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JohnBitCo
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May 31, 2020, 06:13:22 AM |
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Yes, it's very sad if we get lost in trading because that will be a bad experience for us. But if we can get the lesson, and we know how to prevent the other mistake, that will give us more experience in our trading journey so we can avoid making another mistake. I am sure that almost all traders make a mistake, and they lose their money while trading but I think that can make them wise to decide. If they can have more experience, they will know when the time to trade, and they will be careful to manage the risk.
For trading one need to have a skill in trading and he should know all the terms and logic used in trading. I have seen people start to trade without even knowing what is stop loss. How can they be successful if they do not know these basic things ? When I started trading, I also did not learnt it properly due to which I made heavy losses in trading.  |
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Assface16678
Full Member
Offline
Activity: 1358
Merit: 134
★Bitvest.io★ Play Plinko or Invest!
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June 02, 2020, 03:48:02 AM |
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Many people told that the cryptocurrency trading is one of the easiest ways to make and earn more money so there are a lot of newbies making their own trade on this kind of platform having some of the problem today of the newbies are losing their funds which cause a lot of loses and getting more decreasing on their funds. If you are a newbie in trading and win your trade unexpectedly that was good news to you but you cannot escape the losing phase on trading.
In trading, knowledge is the most important thing you must have and it is better to keep updated about things happen into the world of crypto especially the coin you want to use to be more aware if there is a possible going uptrend or downtrend. Also, it is better to use the properly fit trading platform on you IMO I used the binance. Also having knowledge on the market graph makes you more help about the possible outcome of the coin next is the use of the margin trading this is the riskiest one if you lose your trade there is a chance to lose on your funds because of the margin trading set the leverage that you can afford to earn.
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