Lost 17500$ during recent downswing, Now completely broke.

[gabbie2010]

~

right, psychology plays the most important role in trade. although in practice it is always contrary to conscience. controlling emotions when we are floating minus or floating plus until we reach the target is not easy, and we are required to master it

As I have often said, trading is not an easy thing to do, we can make big profits and can also experience big losses too. It depends on how we control
our emotions when trading, because I agree with you that psychology is the most important part of trading. Therefore, for those who can control
their emotions well when trading, 70% of success should be obtained, maybe the rest is related to technical problems.

I never thought that trading was easy, I would apply it, including psychologists, including an important part where we have to control from dissolving emotions and also other greed, this usually happens when the target has been reached but wants to be increased higher and usually this is what a lot of trapped in. in a bow that is too high.
Analytical techniques, indicators that are also needed in trading I think this will not be easy to combine, and when losses occur we have to be able to not escape the tension.

I was once a culprit of not taking profit after my trade moved in my direction  and reached my target the greed to earn more profits prevented me from taking profits however the trade reversed and I ended up losing that particular trade  I believed the use of stop loss in trading is very useful to ensure reducing risk, the OP over leverage his trades consequently resulted to the massive losses, it is a pity losing such a whopping sum of money in trading.

[ven7net]

Though I lost so many times earlier but this one is bit tough. I was bearish on bitcoin when it was around 30000$ but it went up and up and touches 40000$. I lost around 1000$ and I was ok but I do not know what happens to me suddenly in the heat of the moment I decided to go all in with 100x leverage, with no technical analysis nothing, as I was sure about bitcoin reaching 50000$.
And that is it all my bankroll which I build from 350$ vanished my hard work of 6 month gone.
Now I am broke. But I know I will build my bank roll again over the course of few months but oh man this is tough.
I hate this feeling. Guys no matter what don't be impulsive in trading.

What happened to you shows once again that cryptocurrency trading is a very serious and high-risk process. Moreover, when trading cryptocurrency, you either need to have skills or reliable information in order to ultimately make a profit. But you need to understand that everyone cannot earn money, which means that if someone made a profit, then someone else spent the money. Also, in order to trade, you need to have funds that you are ready to lose, otherwise you can get a big psychological blow. Also, trading is the acquisition of experience, which is certainly expensive, and if you were able to gain experience in trading, then you really wasted your time and money.

[Kez1817]

Though I lost so many times earlier but this one is bit tough. I was bearish on bitcoin when it was around 30000$ but it went up and up and touches 40000$. I lost around 1000$ and I was ok but I do not know what happens to me suddenly in the heat of the moment I decided to go all in with 100x leverage, with no technical analysis nothing, as I was sure about bitcoin reaching 50000$.
And that is it all my bankroll which I build from 350$ vanished my hard work of 6 month gone.
Now I am broke. But I know I will build my bank roll again over the course of few months but oh man this is tough.
I hate this feeling. Guys no matter what don't be impulsive in trading.

Be careful and don't be like someone who killed himself because he lost all his assets in leverage trading during this current downtrend of crypto market. That's just a money that you can still earn if the market will pump again. Always have risk management and manage your emotions properly to avoid some bad things that can happen in life.

[Fivestar4everMVP]

Wow, honestly, this is a pretty sad story, and to be sincere, I've gone through this before, so I pretty much understand how you feel, though my loss wasn't as high as this, but then I lost over 90 percent of the amount I had in that account, and I traded with 100x leverage as well, just like you said, I've been losing before, which have always been no problem to me, but after I made the 90 percent loss, I decide to quit trading  , the stress and frustration was too much, lol, I decided to just stick with investing and keeping for a while to grow, I've always sucked when it comes to trading by the way, so I quit for good to have peace of mind.
Sorry for your loss mate, as long as you believe in yourself, you will come back strong, don't let the loss wear you down, its one of those things we experience on our ladder to success.

[judaspriest]

wow that's so crazy !, $ 17500? why can you lose money that easily mate?
You should understand that if you want to enter crypto currency it is very volatile and you have to manage your money management properly,
it's a shame if you lose so much money, it must be very painful, in the future don't play in futures trading

[Fredomago]

Though I lost so many times earlier but this one is bit tough. I was bearish on bitcoin when it was around 30000$ but it went up and up and touches 40000$. I lost around 1000$ and I was ok but I do not know what happens to me suddenly in the heat of the moment I decided to go all in with 100x leverage, with no technical analysis nothing, as I was sure about bitcoin reaching 50000$.
And that is it all my bankroll which I build from 350$ vanished my hard work of 6 month gone.
Now I am broke. But I know I will build my bank roll again over the course of few months but oh man this is tough.
I hate this feeling. Guys no matter what don't be impulsive in trading.

Be careful and don't be like someone who killed himself because he lost all his assets in leverage trading during this current downtrend of crypto market. That's just a money that you can still earn if the market will pump again. Always have risk management and manage your emotions properly to avoid some bad things that can happen in life.

Yeah right! life is more important if you made a mistake then work on it and try to find the right way to recover. Learn from that experienced and look for much better way to make things appropritate with your desire to bring those losses back and try to gain benefits.

Go  a little bit deeper in finding the right system, rushing things out won't help but instead, try to established plans that will lead you to avoid making the same things over and over.

Take time, chance will open it's door again make sure that you already know the timing.

[lolxxxx]

I feel you and I suggest do not put in more than you can afford.

Just do with smaller amounts and always cash out profit do not put max amount to the trade and always check the market, In this dump, many people got chance to get out but many lost.

I heard some other story as well where he lost everything during the recent dump all his assets were in crypto... I feel really bad for him. If you are earning good why do you want to go over trading just stay calm do some sports/activities and gather money, Invest in some other stable things, not in crypto?

Regards

[stomachgrowls]

wow that's so crazy !, $ 17500? why can you lose money that easily mate?
You should understand that if you want to enter crypto currency it is very volatile and you have to manage your money management properly,
it's a shame if you lose so much money, it must be very painful, in the future don't play in futures trading

You can lose up that fast when you do deal with futures or leverage trading depending on what you had set out where losing big amounts is piece of cake or get easily liquidated.

Its not a shameful thing since theres no perfect trader in this market.The mistake here is that they havent set out some risk management thing in case the market would dip down that much.If we go back on where dipping down 40% hadnt happpen in couple of years which lead up to some sort of confidence but it did happen recently

There are still lots of sad stories like this which hadnt been surfaced or known.On this market there are only two type of investors which the one is on profiting and one is on loosing side.

[jostorres]

I hope you will find a way to recover from the loss and other people can learn from your mistakes. I have done similar stuff alone but with small money which I could afford to lose. The feeling is bad but better times and trades will come.

Actually, the post in OP is from January 2021 and if only he had held strong he could have made some really good money pretty easily. Just need to keep believing and avoid panicking and it's not even that hard since we have seen the same trend for years now. It feels bad when people lost money because of a correction or dip but we do need dips to buy bitcoins so it's similar to friction - a necessary evil.

Op, I think you lost the opportunity you had this time to remake your profits you did before, which might have recovered your loss or part of that. Better stay out of markets for a week at least because I expect too much volatility because the news from institutions are doing nothing but breaking the balls of crypto and in this time of sorrow, we must stand united and keep our funds safu for more buy opportunities that will be available soon.

That is really the story of the market right now. You need to stay away if you cannot withstand these dips and swings because most of the times traders will get overhyped during bull runs and sweat during bear runs. I don't think BTC will go down further but hey I was also thinking we might never go below 40k again ever and we know what happened.

[cheezcarls]

I know how it feels to be like that. It really stings and caused a heavy heart if I were in your shoes. I would be depressed and gonna be stressed for so many days if I lose money like that.

However, going all-in is a bad decision on your part. My sister back then asking me some advice if she can go all-in on Bitcoin rather than saving in her bank account, but I told her not to. Diversifying, doing her own research and learning how to manage funds by putting an amount that she can afford to lose is what I advise her.

You should have thought of not going all-in man. I know that it’s tempting, but very risky.

[Kittygalore]

wow that's so crazy !, $ 17500? why can you lose money that easily mate?
You should understand that if you want to enter crypto currency it is very volatile and you have to manage your money management properly,
it's a shame if you lose so much money, it must be very painful, in the future don't play in futures trading

Because OP have his/her emotion decide what to do next when OP is trading at the riskiest way in crypto which is leveraging which is pretty stupid considering and assuming that OP should have some experience in trading and that OP should've known by now that emotion isn't the way to trade. I hope that OP has reclaimed back some of his money because it has been 5 months now since this thread has been posted.

[shield132]

Never ever in your life do 100x leverage on your bankroll, it's just committing suicide.

On 100x leverage, 1% negative price movement is enough to make you liquidated. In crypto world, it's very, very hard to catch the absolutely ideal price for your futures position, that's why you have to use low leverage. The max to my mind would be to use 10x leverage when you are highly confident that it's the lowest price to buy right now. Even with this, doesn't matter how confident you are, always set stop-loss on every order. It worths to use stop-loss order and miss great chance rather than risk the whole capital. Crypto is very risky and you need luck here too.

[TheGreatPython]

Though I lost so many times earlier but this one is bit tough. I was bearish on bitcoin when it was around 30000$ but it went up and up and touches 40000$. I lost around 1000$ and I was ok but I do not know what happens to me suddenly in the heat of the moment I decided to go all in with 100x leverage, with no technical analysis nothing, as I was sure about bitcoin reaching 50000$.
And that is it all my bankroll which I build from 350$ vanished my hard work of 6 month gone.
Now I am broke. But I know I will build my bank roll again over the course of few months but oh man this is tough.

Why do you all like doing this? And moreover your headline and your write-up is confusing me a lot. First of all you said that you lost $17,500 according to your headline, and then you said you lost $1,000 and also you lost $350 you have been building for over six months? Well whatever it is I believe that you have learnt enough lesson and you’re going to be careful from now on. You took a really big risk by doing that.

I don’t know what pushes people to take this kind of risk of investing everything they have in assets like this, knowing very well how risky it can be, it’s very bad.Please try to avoid this kind of mistake, don’t go all in, take it slow you will reach there.

[Lordhermes]

I love your energy bro, this is real energy.
Before I can say something, I'm gonna tell you sorry about the heavy loss, today's mistake gives you strength and experience tomorrow.

And that is it all my bankroll which I build from 350$ vanished my hard work of 6 month gone.

Listen up bro, I will encourage you not to quit this, everyone has their respective strategy that works for them, I'm not good at leverage trading so I will never try that, it's impressive to see this strength of raising $350 to his unexpected amount, what's left for you to learn now is risk management and control, I will advise you to start up again when the market regains her stability.

[sana54210]

Why do you all like doing this? And moreover your headline and your write-up is confusing me a lot. First of all you said that you lost $17,500 according to your headline, and then you said you lost $1,000 and also you lost $350 you have been building for over six months? Well whatever it is I believe that you have learnt enough lesson and you’re going to be careful from now on. You took a really big risk by doing that.

I don’t know what pushes people to take this kind of risk of investing everything they have in assets like this, knowing very well how risky it can be, it’s very bad.Please try to avoid this kind of mistake, don’t go all in, take it slow you will reach there.

I think he means to say that he lost 1000 dollars first, then he went all in which is either 17.5k or maybe 16.5k because he already lost 1k, and that was money he earned all the way from starting at 350 to reaching there. That is what I imagine he means in the message, start at 350, then get to high level of 17.5k, wager 1k and lose, then lose the rest on an all in.

I do not think that people like these learn their lesson that easily, they either give up completely and call it a rigged system or whatever, or they end up spending even more to earn more. This guy said he went all in and he doesn't have money left so I am assuming he will be the first type and not the second type, that way he will end up with some sort of huge grief and keep saying bitcoin will always go down and any chance he gets he will call it rigged against poor people and it is whales' toy.

[TomArayaSlaya]

I just hope you have something left to go back into the game because seriously bro we all make dump mistake and is alright to make them Just make sure you dont repeat it again and also try to take some profit off the table in USDT incase of market dips You can go shopping at those times

[Ziskinberg]

We will not underestimate the market and you can lose everything you have if you got mistaken. Everyone should be aware of this possibility, in fact, not only OP had suffered like this but many. To ask how to stop this? That will depend on you, it was you you can decide, if you are too careless enough with your trades and out of focus, this will be your possible ends. What we gonna do in order to minimize losses, take trading seriously, avoid being emotional as this a big factor.

[adaseb]

Posts like this are the reason why you need to wait until bitcoin makes a move before you either go long or short. There are many traders right now which lost tons of money. And they redepositted more money into their exchange account and are reverenge trading.

Basically they want to make it all back, so they are using leverage and most likely whether they go long or short they will get liquidated. Most likely if they go short, we will retest the $42K area at least and stop them out. Then they will trap bulls and most likely retest the $30K low and take out even more traders. It could trade like this for weeks. And people will get liquidated because they are caught in the chop. Best to wait and see which way it goes and then make a move.

[martina14]

This showed that cypto trading space is not just an easy thing, just like what the others thinking about it. It represent only that doing trade
in cryptocurrency is full of risk while doing it in the actual platform of trading anyway. So sad for what happened to the author of this topic, its not the end of the world yet dude, you can still move forward and besides your not the only one who encountered that anyway.

[perfect999]

Though I lost so many times earlier but this one is bit tough. I was bearish on bitcoin when it was around 30000$ but it went up and up and touches 40000$. I lost around 1000$ and I was ok but I do not know what happens to me suddenly in the heat of the moment I decided to go all in with 100x leverage, with no technical analysis nothing, as I was sure about bitcoin reaching 50000$.
And that is it all my bankroll which I build from 350$ vanished my hard work of 6 month gone.
Now I am broke. But I know I will build my bank roll again over the course of few months but oh man this is tough.

Sorry about that mate, hope you’re going to be very careful in case of next time  so that you don’t end up losing your money again. There are a lot of people that lost their money with this new decrease. I have sold a part of my coins before the crash, and I am still holding some of them in Bitcoin, TRX, ETH, Neo, and Cardano.

I did lose some money but I am not much worried about it. The reason why I am not worried about that is because I have already planned myself before now, and I was ready for any decrease in price that was coming, so it isn’t a surprise to me, I planned for it. This is why it’s very necessary to take profit when you can and leave the rest. There are people who don’t take profit because they say the price will increase. Personally I think that’s greed.