Recovering losses

[LongBTC2Moon]

Hi friends,

I am not a professional trader, all I wanted to do is earn some bitcoin so as to pay the potential income tax.
On 23rd Feb, I lost my 80% of bitcoin.
I should have managed risk better, but my worst mistake happened, when I had longed 3x. and I got scared during the dip.
I had lost 50% of my bitcoin in January but I think I got lucky, Elon musk pump helped me recover my lost bitcoin and earn 15% more.
Out of this 115% btc, 80% is lost.
I tried to recover from feb 24 and I was able to make 20% to double and make it 40%.
But being under tremendous stress, I overtraded and lost recovered btc and now back to 20%.
I thought of asking for some guidelines / help from some twitter personalities who are good traders, but I am afraid to approach, because they may think I am going to ask for some bitcoin or I am a scammer. Also I do not personally know any good trader who can help / guide with the strategy to recover my lost bitcoin.
By help I do not mean to give me everyday a trade setup or calls.
my strategy is to go very slow, buying the dips with 2x or 3x leverages and recover bitcoin over period of next 6 months.
I didn't do any revenge trades or high leverage trades to make it all back in one trade. This recovering is easier said than done.
 
Also I was thinking of selling a piece of  land I own, buy some bitcoin and keep it safe in hardware wallet, not trade with it.
And slowly recover from my existing 20%. Or stop trading completely.  This 20% is also quite some. so just stop trading and be content with whatever I have. and DCA in future.
 
Now I don't need to pay any income tax but also lost my bitcoin.
Greatly appreciate any words of wisdom, any help with the strategy to recover my loss.

Thanks and regards,
LongBTC2Moon.

[1715301203]

1715301203

[1715301203]

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[1715301203]

1715301203

[mk4]

At some point, you just realize that maybe trading is not for you, and there's really nothing wrong with it! Some people hop professions multiple times before they end up doing something what they're good at, and that they enjoy.

Seriously though, you probably already know this, but just look for another source of income. May it be through jobs, gigs, a business, or whatever. Don't just sit there looking at Coinmarketcap.

Best of luck going forward.

[LongBTC2Moon]

At some point, you just realize that maybe trading is not for you, and there's really nothing wrong with it! Some people hop professions multiple times before they end up doing something what they're good at, and that they enjoy.

Seriously though, you probably already know this, but just look for another source of income. May it be through jobs, gigs, a business, or whatever. Don't just sit there looking at Coinmarketcap.

Best of luck going forward.

Thank you mk4.

[LongBTC2Moon]

but if you really wanted to learn how to trade like a professional i would suggest you to download some books based on trading and start from their

ill

Thank you 4Y078.  I will do it. I later watched some videos on youtube and I am learning. 
I think, I should have learnt about 'preserving the capital' earlier. It was mentioned in one of the videos. I have written down some rules in a notebook and remind myself every now and then.

[Charles-Tim]

Also I was thinking of selling a piece of  land I own, buy some bitcoin and keep it safe in hardware wallet, not trade with it.

Why would you sell a piece of land because you want to buy bitcoin? I think this is not a great idea at all because a piece of land is also an appreciative asset. And you should know that you do not want to take it slow is the reason you are thinking like this, while you need to take it slow in order to profit, or losses can ensue.

And slowly recover from my existing 20%. Or stop trading completely.  This 20% is also quite some. so just stop trading and be content with whatever I have. and DCA in future.

According to one of the rules of trading, do not count what you lose as losses (rather, as a means of learning in order to avoid past trading mistakes). If you lose, stop trading at the time to recover back good trading strategies. Just only focus on how not to lose, what has been lost is gone and never think about it, neither also not thinking you gained back what you lost but how not to lose anymore.

Thank you 4Y078.  I will do it. I later watched some videos on youtube and I am learning.
I think, I should have learnt about 'preserving the capital' earlier. It was mentioned in one of the videos. I have written down some rules in a notebook and remind myself every now and then.

You need to know the trading rules, trading is so risky, you can lost a lot, leading to selling of properties, trade again and lose. The best is to first try to use the Bitcoin that can convenient you to use and have a good risk management.
I have to reiterate this, never sell your land, be patient, hustle for money and buy Bitcoin. If you think trading is not making any sense, then believe in Bitcoin and just hold.

[electronicash]

agree with mk4. you even consider looking for someone on twitter to help you. it's not the place to look for a tutor. i doubt someone will actually teach but look for some tuts on how to use indicators on tradingview. the more you think of your loss, the more you would think of getting back chasing the pumps. and start training yourself which the other option is to just look for a job and just hold your coins.

[Strongkored]

When you focus on how to recover losses you experience you will be increasingly trapped in irregular trading, my advice, as some members have mentioned, is better to increase your trading knowledge, if you have been studying for a while but have not found the right formula. it would be more appropriate to exit trading or start investing meaning it will last in the long term so you don't have to make trades every day which is sometimes very emotionally draining.

[Maslate]

What makes you wrong is that you are overconfident that entering in trading will give you a better life and even willing to sell all your belongings just for this but somehow, trading isn't really for you. For all the losses you have this time, one way to recover all of it is to quit trading. Make yourself humbly accepting that trading isn't really for you and you are one of those people who are also not destined to become a trader.

Maybe you can find another opportunity that could help you get back of what you've lost in trading. Really sad, but sometimes we went through that way.

[Wind_FURY]

OP, accept your losses, and forget them. Take those losses as a kind of expensive “tuition fee” paid to the School of Trading. From now, you should just HODL, and find other ways to make money in the real world, save, and buy Bitcoin during dips. I believe with hard work, you will make it.

[samcrypto]

Recovering your loses is not easy, and the only way to keep going is to adopt change and to accept all the mistakes you've done over your past trades. This is reminder to you that there's no easy money in this market, so you have to take it seriously.

If you're still a newbie in trading with a very limited experience, then used this losses to improve yourself. Making money just to be used on paying taxes is not a good reason to invest on Bitcoin seriously, because this market can offer you the best and you just need to do your best to achieve it, also find your biggest why invest on Bitcoin.

[trigger1975]

I am not a professional trader, all I wanted to do is earn some bitcoin so as to pay the potential income tax.
On 23rd Feb, I lost my 80% of bitcoin.
I should have managed risk better, but my worst mistake happened, when I had longed 3x. and I got scared during the dip.
I had lost 50% of my bitcoin in January but I think I got lucky, Elon musk pump helped me recover my lost bitcoin and earn 15% more.
Out of this 115% btc, 80% is lost.
I tried to recover from feb 24 and I was able to make 20% to double and make it 40%.
But being under tremendous stress, I overtraded and lost recovered btc and now back to 20%.

Don't want to sound rude or harsh but just being honest: first stop trying to get back your lost.  Accept it.  It is what it is.  The more you try to gain back what you've lost, the worse it'll get.  A good indication of your current mindset is that you feel under tremendous stress which lead to overtrading.  There is no way of making rational or well thought decisions under such a stress.

Take time off of the charts and markets and don't open new investment or trading positions out of FOMO.  That'll do no better in your current situation.  Come back to your decisions if your mind cleared and you've accepted the loss.

[Kelvinid]

It is a sort of learning not only just for you but for those who suffered losses the very first days of their trading life. I know it wasn't come too easy and succeed instantly because that what not really happens in real life and losing is a part of it but it returns, this will teach us how to manage our emotions despite the losses we got.

Recovering losses is a big challenge and sometimes we find ourselves hopeless but this could never be resolve and bring back all the losses we have if we never take action and encourage ourselves to make it better.

[LongBTC2Moon]

It is a sort of learning not only just for you but for those who suffered losses the very first days of their trading life. I know it wasn't come too easy and succeed instantly because that what not really happens in real life and losing is a part of it but it returns, this will teach us how to manage our emotions despite the losses we got.

Recovering losses is a big challenge and sometimes we find ourselves hopeless but this could never be resolve and bring back all the losses we have if we never take action and encourage ourselves to make it better.

Thank you Kelvinid!

[LongBTC2Moon]

I am not a professional trader, all I wanted to do is earn some bitcoin so as to pay the potential income tax.
On 23rd Feb, I lost my 80% of bitcoin.
I should have managed risk better, but my worst mistake happened, when I had longed 3x. and I got scared during the dip.
I had lost 50% of my bitcoin in January but I think I got lucky, Elon musk pump helped me recover my lost bitcoin and earn 15% more.
Out of this 115% btc, 80% is lost.
I tried to recover from feb 24 and I was able to make 20% to double and make it 40%.
But being under tremendous stress, I overtraded and lost recovered btc and now back to 20%.

Don't want to sound rude or harsh but just being honest: first stop trying to get back your lost.  Accept it.  It is what it is.  The more you try to gain back what you've lost, the worse it'll get.  A good indication of your current mindset is that you feel under tremendous stress which lead to overtrading.  There is no way of making rational or well thought decisions under such a stress.

Take time off of the charts and markets and don't open new investment or trading positions out of FOMO.  That'll do no better in your current situation.  Come back to your decisions if your mind cleared and you've accepted the loss.

Thank you trigger1975 for your words of wisdom. I will take some time off. and make peace with what has happened.

[livingfree]

You should haven't go into margin trading without proper experience or if you're not prepared for any outcome, good or bad. I'm sorry with what happened to you but it seems that you really had a bad time.

I wouldn't recommend you selling a piece of your land for it but if that's what you really think is better for you to do and will make you happy, think of it many twice and don't commit another mistake that might put you into stress.

If you trade, just go on the spot market and don't leverage it.

[LUCKMCFLY]

If now you have the conviction that you should sell the terrain and buy Bitcoin, the decision is just yours, now it is a very good time to invest in Bitcoin, but invest, which means that you should not invent speculating in the market. In addition, he expects the price to increase, meanwhile, it is good that reflections, trade is to study, it would be good for you to study some books that talk about the market, of market speculators how they did to face the different scenarios,  you can learn how you can better understand the market.

It is good that you also read about the investment, Warren Buffet Books is excellent, because they are applicable to the Bitcoin market. At this time, keep calm and think well what to do, it is not good to make decisions when it is under stress.

[so98nn]

Right now the words of wisdom for you are simple:- “You learn from your own mistakes”. Just see how big mistake you done by selling your bitcoin and the act is called as Panic Sell. That’s what you done and you wish you would have read these terms already on the forum. However it is very important that, you must follow these stuff and not to get temporary motivation from them.

People do mistake by not following it strictly. You need rigorous control over your emotions while trading. So just keep in mind these tactics.

[el kaka22]

Recovering losses is nothing but making new profits; if you focus on making profits then there could be a chances for recovering your losses but if you all aim about recovering your previous losses then you may end up again and again losses. I mean there are differences emotionally between these two. You must need to feel afresh mentally before you planning up your trades; if you are under strain and worrying about your previous losses and trading among them will not definitely produce any good results for any trader.

Loss is loss; worrying about them will not help you. If you accept your losses and if you move forward then you will get new opportunity even within trading to make you richer as early as possible timeframe.

Unlike any other trading environment, you can make big profits in this crypto space just by holding for longer duration. Just plan up trades for years (but within only bitcoin) then definitely you will get at least 10x profits for your investments.

[crwth]

I think we all will go through something like this because our life is not always going to be straight upwards. There would always be losses, and just like charts, there are highs and lows, and you could never go wrong aiming higher and higher every time you go through a low. It's best to be happy with what you still have and start from there.

Many people have experienced far worse, not to compare it, but some people overcame their hardships. I know you will as well.

No one could ever honestly tell what you could do right now, but as long as you stick to your goals and aim higher highs, then you would get to your goals.

[Zilon]

I think if you love to trade then go learn how to trade. Mind you Bitcoin is highly volatile and therefore it is a very risky market to trade. But once the knowledge is gotten you would not just trade Bitcoin alone you would also know when to buy more Bitcoin at cheaper rates then sell it off in the future at a more expensive rate.

[Natsuu]

At this point and as per the post, I would say that you must have already learned to stay calm at all times.

But I just want to emphasize the idea of dismissing the loses and focusing on what is ahead. Keeping your mind in sharp and empty of negativity from you past trades will make you sharper and wiser in your decisions. Aside from that, I think you only need to spread your accounts more in different coins.

[LongBTC2Moon]

What makes you wrong is that you are overconfident that entering in trading will give you a better life and even willing to sell all your belongings just for this but somehow, trading isn't really for you. For all the losses you have this time, one way to recover all of it is to quit trading. Make yourself humbly accepting that trading isn't really for you and you are one of those people who are also not destined to become a trader.

Maybe you can find another opportunity that could help you get back of what you've lost in trading. Really sad, but sometimes we went through that way.

,
Thank you Maslate for your suggestion / feedback. I always knew it is very risky.  I was lucky to make some successful trades.
In fact, after I made 15% more bitcoin, I had decided that I will stop trading soon. After losing, the thought of recovering it had me continue for last month.

[LongBTC2Moon]

Recovering losses is nothing but making new profits; if you focus on making profits then there could be a chances for recovering your losses but if you all aim about recovering your previous losses then you may end up again and again losses. I mean there are differences emotionally between these two. You must need to feel afresh mentally before you planning up your trades; if you are under strain and worrying about your previous losses and trading among them will not definitely produce any good results for any trader.

Loss is loss; worrying about them will not help you. If you accept your losses and if you move forward then you will get new opportunity even within trading to make you richer as early as possible timeframe.

Unlike any other trading environment, you can make big profits in this crypto space just by holding for longer duration. Just plan up trades for years (but within only bitcoin) then definitely you will get at least 10x profits for your investments.

Thank you el kaka22.

[teosanru]

Hi friends,

I am not a professional trader, all I wanted to do is earn some bitcoin so as to pay the potential income tax.
On 23rd Feb, I lost my 80% of bitcoin.
I should have managed risk better, but my worst mistake happened, when I had longed 3x. and I got scared during the dip.
I had lost 50% of my bitcoin in January but I think I got lucky, Elon musk pump helped me recover my lost bitcoin and earn 15% more.
Out of this 115% btc, 80% is lost.
I tried to recover from feb 24 and I was able to make 20% to double and make it 40%.
But being under tremendous stress, I overtraded and lost recovered btc and now back to 20%.
I thought of asking for some guidelines / help from some twitter personalities who are good traders, but I am afraid to approach, because they may think I am going to ask for some bitcoin or I am a scammer. Also I do not personally know any good trader who can help / guide with the strategy to recover my lost bitcoin.
By help I do not mean to give me everyday a trade setup or calls.
my strategy is to go very slow, buying the dips with 2x or 3x leverages and recover bitcoin over period of next 6 months.
I didn't do any revenge trades or high leverage trades to make it all back in one trade. This recovering is easier said than done.
  
Also I was thinking of selling a piece of  land I own, buy some bitcoin and keep it safe in hardware wallet, not trade with it.
And slowly recover from my existing 20%. Or stop trading completely.  This 20% is also quite some. so just stop trading and be content with whatever I have. and DCA in future.
 
Now I don't need to pay any income tax but also lost my bitcoin.
Greatly appreciate any words of wisdom, any help with the strategy to recover my loss.

Thanks and regards,
LongBTC2Moon.

I appreciate your honesty towards your own self. Most people even after losing 80% think that it's just something temporary and they will get it again by doing revenge trades and what happens instead is that they end up losing the remaining 20% too. Atleast you took that time to introspect your fault here. My Recommendation to you is create a very small capital. Probably just 2-5% depending upon the amount it could be even $100 and try to trade with these $50 by following all the technical analysis strategy and risk management strategies. Trade with this much amount for at least 5-6 months by giving at least 2-3 hours a day. This experiment might cost you some time but would give you an idea that you are made to become a trader or not. Trading is a profession not a time pass thing.

Coming to sources of learning. Trust me you have to create your own trading strategy at the end of the day. It could be something you create after tweaking strategies of 3-4 different people but at the end it's you who has to choose indicators and tactics. Sources from where you can learn this can be categorized in this way:
1. Books: There are a hell of lot of books available in the market which would tell you what to do and how to trade. You can refer any of them, top of the list are how to day trade for living, Technical analysis by John Murphy etc.
2. Video courses: Almost every big trader on twitter or youtube has video courses some are paid and some are free. You need to invest in them to learn something.
3. Hit & Trial: At the end of the day it's the waves of the sea that teach you surfing. So market would teach you everything but make sure you keep your initial capital small to give market as small fees as possible for learning.

[dautuonline]

When greed takes the throne, bloodshed is natural.
I have a safer recommendation for you. Put your bitcoins on the Farming platform and make 8-18% profit per year.
Or you Lock bitcoin and use the platform to borrow with a dollar loan. Using that loan of good governance to buy and sell increases the number of bitcoins. This is a safe campaign

[carlfebz2]

Now I don't need to pay any income tax but also lost my bitcoin.
Greatly appreciate any words of wisdom, any help with the strategy to recover my loss.

Thanks and regards,
LongBTC2Moon.

Dont rush up! You dont actually need others help because they cant really help you out on the first place.The only one who could only help is only yourself.

When you are making some gains then thats a good indication that you could still have the chance on recovery.It might not really be that fast but it is much better if you done it slowly
but surely.

Dont add up more investment because that would really be a sign of desperation and would might end up into more further loss.You should avoid that.
Dont sell out your land. Try things as best as you can until you break even.

[adzino]

Hi friends,

I am not a professional trader, all I wanted to do is earn some bitcoin so as to pay the potential income tax.
On 23rd Feb, I lost my 80% of bitcoin.
I should have managed risk better, but my worst mistake happened, when I had longed 3x. and I got scared during the dip.
I had lost 50% of my bitcoin in January but I think I got lucky, Elon musk pump helped me recover my lost bitcoin and earn 15% more.
Out of this 115% btc, 80% is lost.
I tried to recover from feb 24 and I was able to make 20% to double and make it 40%.
But being under tremendous stress, I overtraded and lost recovered btc and now back to 20%.
I thought of asking for some guidelines / help from some twitter personalities who are good traders, but I am afraid to approach, because they may think I am going to ask for some bitcoin or I am a scammer. Also I do not personally know any good trader who can help / guide with the strategy to recover my lost bitcoin.
By help I do not mean to give me everyday a trade setup or calls.
my strategy is to go very slow, buying the dips with 2x or 3x leverages and recover bitcoin over period of next 6 months.
I didn't do any revenge trades or high leverage trades to make it all back in one trade. This recovering is easier said than done.
 
Also I was thinking of selling a piece of  land I own, buy some bitcoin and keep it safe in hardware wallet, not trade with it.
And slowly recover from my existing 20%. Or stop trading completely.  This 20% is also quite some. so just stop trading and be content with whatever I have. and DCA in future.
 
Now I don't need to pay any income tax but also lost my bitcoin.
Greatly appreciate any words of wisdom, any help with the strategy to recover my loss.

Thanks and regards,
LongBTC2Moon.

You think you are ready now? If yes, then go ahead and start trading again. But make sure you don't repeat the same mistakes. Make sure you learn everything from your previous mistakes. Also, try to understand what went wrong. Like you said, you didn't do any risk management. Maybe try doing it this time and see how it works out? It might be different this time and you may start making good profit and know when you withdraw your profits or stop.
Give yourself another chance IF you can afford, or else just move on.

[LongBTC2Moon]

Also I was thinking of selling a piece of  land I own, buy some bitcoin and keep it safe in hardware wallet, not trade with it.

Why would you sell a piece of land because you want to buy bitcoin? I think this is not a great idea at all because a piece of land is also an appreciative asset. And you should know that you do not want to take it slow is the reason you are thinking like this, while you need to take it slow in order to profit, or losses can ensue.

And slowly recover from my existing 20%. Or stop trading completely.  This 20% is also quite some. so just stop trading and be content with whatever I have. and DCA in future.

According to one of the rules of trading, do not count what you lose as losses (rather, as a means of learning in order to avoid past trading mistakes). If you lose, stop trading at the time to recover back good trading strategies. Just only focus on how not to lose, what has been lost is gone and never think about it, neither also not thinking you gained back what you lost but how not to lose anymore.

Thank you 4Y078.  I will do it. I later watched some videos on youtube and I am learning.
I think, I should have learnt about 'preserving the capital' earlier. It was mentioned in one of the videos. I have written down some rules in a notebook and remind myself every now and then.

You need to know the trading rules, trading is so risky, you can lost a lot, leading to selling of properties, trade again and lose. The best is to first try to use the Bitcoin that can convenient you to use and have a good risk management.

Thank you Charles-Tim.
I have to reiterate this, never sell your land, be patient, hustle for money and buy Bitcoin. If you think trading is not making any sense, then believe in Bitcoin and just hold.

[Twinkledoe]

Now I don't need to pay any income tax but also lost my bitcoin.
Greatly appreciate any words of wisdom, any help with the strategy to recover my loss.

Thanks and regards,
LongBTC2Moon.

Dont rush up! You dont actually need others help because they cant really help you out on the first place.The only one who could only help is only yourself.

When you are making some gains then thats a good indication that you could still have the chance on recovery.It might not really be that fast but it is much better if you done it slowly
but surely.

Dont add up more investment because that would really be a sign of desperation and would might end up into more further loss.You should avoid that.
Dont sell out your land. Try things as best as you can until you break even.

Getting some advice or help from this so-called experts is useless. Because they may even endorse you of something. I think if you do want to earn some tips, you can lurk around the forum, in this section and in the beginners & help, and you may get a lot of insights that will guide you in your trading decision. Also, as others also suggested, please don't sell the land. Yes, you are paying your tax now, but its value will increase thru time, and that is one tangible asset that is worth holding for. With bitcoin, we have no idea what will happen 5 or 10 years from now. At least you have tangible asset that you can hold onto when everything goes sideways.

[LongBTC2Moon]

Hi friends,

I am not a professional trader, all I wanted to do is earn some bitcoin so as to pay the potential income tax.
On 23rd Feb, I lost my 80% of bitcoin.
I should have managed risk better, but my worst mistake happened, when I had longed 3x. and I got scared during the dip.
I had lost 50% of my bitcoin in January but I think I got lucky, Elon musk pump helped me recover my lost bitcoin and earn 15% more.
Out of this 115% btc, 80% is lost.
I tried to recover from feb 24 and I was able to make 20% to double and make it 40%.
But being under tremendous stress, I overtraded and lost recovered btc and now back to 20%.
I thought of asking for some guidelines / help from some twitter personalities who are good traders, but I am afraid to approach, because they may think I am going to ask for some bitcoin or I am a scammer. Also I do not personally know any good trader who can help / guide with the strategy to recover my lost bitcoin.
By help I do not mean to give me everyday a trade setup or calls.
my strategy is to go very slow, buying the dips with 2x or 3x leverages and recover bitcoin over period of next 6 months.
I didn't do any revenge trades or high leverage trades to make it all back in one trade. This recovering is easier said than done.
 
Also I was thinking of selling a piece of  land I own, buy some bitcoin and keep it safe in hardware wallet, not trade with it.
And slowly recover from my existing 20%. Or stop trading completely.  This 20% is also quite some. so just stop trading and be content with whatever I have. and DCA in future.
 
Now I don't need to pay any income tax but also lost my bitcoin.
Greatly appreciate any words of wisdom, any help with the strategy to recover my loss.

Thanks and regards,
LongBTC2Moon.

You think you are ready now? If yes, then go ahead and start trading again. But make sure you don't repeat the same mistakes. Make sure you learn everything from your previous mistakes. Also, try to understand what went wrong. Like you said, you didn't do any risk management. Maybe try doing it this time and see how it works out? It might be different this time and you may start making good profit and know when you withdraw your profits or stop.
Give yourself another chance IF you can afford, or else just move on.

Thank you Adzino.

[LongBTC2Moon]

Hi friends,

I am not a professional trader, all I wanted to do is earn some bitcoin so as to pay the potential income tax.
On 23rd Feb, I lost my 80% of bitcoin.
I should have managed risk better, but my worst mistake happened, when I had longed 3x. and I got scared during the dip.
I had lost 50% of my bitcoin in January but I think I got lucky, Elon musk pump helped me recover my lost bitcoin and earn 15% more.
Out of this 115% btc, 80% is lost.
I tried to recover from feb 24 and I was able to make 20% to double and make it 40%.
But being under tremendous stress, I overtraded and lost recovered btc and now back to 20%.
I thought of asking for some guidelines / help from some twitter personalities who are good traders, but I am afraid to approach, because they may think I am going to ask for some bitcoin or I am a scammer. Also I do not personally know any good trader who can help / guide with the strategy to recover my lost bitcoin.
By help I do not mean to give me everyday a trade setup or calls.
my strategy is to go very slow, buying the dips with 2x or 3x leverages and recover bitcoin over period of next 6 months.
I didn't do any revenge trades or high leverage trades to make it all back in one trade. This recovering is easier said than done.
  
Also I was thinking of selling a piece of  land I own, buy some bitcoin and keep it safe in hardware wallet, not trade with it.
And slowly recover from my existing 20%. Or stop trading completely.  This 20% is also quite some. so just stop trading and be content with whatever I have. and DCA in future.
 
Now I don't need to pay any income tax but also lost my bitcoin.
Greatly appreciate any words of wisdom, any help with the strategy to recover my loss.

Thanks and regards,
LongBTC2Moon.

I appreciate your honesty towards your own self. Most people even after losing 80% think that it's just something temporary and they will get it again by doing revenge trades and what happens instead is that they end up losing the remaining 20% too. Atleast you took that time to introspect your fault here. My Recommendation to you is create a very small capital. Probably just 2-5% depending upon the amount it could be even $100 and try to trade with these $50 by following all the technical analysis strategy and risk management strategies. Trade with this much amount for at least 5-6 months by giving at least 2-3 hours a day. This experiment might cost you some time but would give you an idea that you are made to become a trader or not. Trading is a profession not a time pass thing.

Coming to sources of learning. Trust me you have to create your own trading strategy at the end of the day. It could be something you create after tweaking strategies of 3-4 different people but at the end it's you who has to choose indicators and tactics. Sources from where you can learn this can be categorized in this way:
1. Books: There are a hell of lot of books available in the market which would tell you what to do and how to trade. You can refer any of them, top of the list are how to day trade for living, Technical analysis by John Murphy etc.
2. Video courses: Almost every big trader on twitter or youtube has video courses some are paid and some are free. You need to invest in them to learn something.
3. Hit & Trial: At the end of the day it's the waves of the sea that teach you surfing. So market would teach you everything but make sure you keep your initial capital small to give market as small fees as possible for learning.

Thank you Teosanru for your advice.

[LongBTC2Moon]

Now I don't need to pay any income tax but also lost my bitcoin.
Greatly appreciate any words of wisdom, any help with the strategy to recover my loss.

Thanks and regards,
LongBTC2Moon.

Dont rush up! You dont actually need others help because they cant really help you out on the first place.The only one who could only help is only yourself.

When you are making some gains then thats a good indication that you could still have the chance on recovery.It might not really be that fast but it is much better if you done it slowly
but surely.

Dont add up more investment because that would really be a sign of desperation and would might end up into more further loss.You should avoid that.
Dont sell out your land. Try things as best as you can until you break even.

Thank you carlfebz2.

[Wind_FURY]

Recovering losses is nothing but making new profits; if you focus on making profits then there could be a chances for recovering your losses but if you all aim about recovering your previous losses then you may end up again and again losses. I mean there are differences emotionally between these two. You must need to feel afresh mentally before you planning up your trades; if you are under strain and worrying about your previous losses and trading among them will not definitely produce any good results for any trader.

Loss is loss; worrying about them will not help you. If you accept your losses and if you move forward then you will get new opportunity even within trading to make you richer as early as possible timeframe.

Unlike any other trading environment, you can make big profits in this crypto space just by holding for longer duration. Just plan up trades for years (but within only bitcoin) then definitely you will get at least 10x profits for your investments.

That would be focusing back and forth between two different sides of the same coin. A better path for OP, or anyone who truly wants to be a “trader”, is to focus not about the profits and losses, but focus on the process of being a good trader. It starts with learning how to trade well, despite having losing moments, not with making profits.

[semobo]

The lesson from your loss is how to make profits and how to avoid them so in future if you want to trade again, you may be aware of the losses and use stop loss limit in 15% from losing your capital. Choose better pairs instead of random coins, make use of stable coins which can save withdrawal fee everytime...

[maydna]

From your case, it seems you need to have control for yourself, and if you feel that you stress because of trading, I suggest you stop trading and leave the market, no matter if you lose or profit because that will help you reduce the tension. And when you come back to the market, you can think clearly and see the chance to trade by buying or selling. When you trade, you do not need to chase the bigger profit as that will not easy to get, and it will need time to see the price jump in a short time.

The important thing is how you can manage your emotion in trading, so you don't panic when you see the price move. Perhaps, it is hard, but that is worth trying. You can improve your skills by watching the video on many websites or read more lessons to help you understand the market situations.

[Ararbermas]

Never give up mate just keep your remaining btc because you still have a chance to recover your losses as long as bitcoin still making progress.  Just don't be greedy there's a right time for it. Hodling for long term will be your last option.
 
And also selling your property for bitcoin? Well in my opinion that will be your big mistake since you still lack of knowledge how to handle the situation when it comes investing. If i were you educate your self more. Don't ever make a decision if you're not yet ready for such things and if you really don't want thus mistakes to happen again.. Just saying because you will always end up nothing if you keep pushing your self on this kind of matter without enough knowledge. Remember that because that's the most important.

[isaac_clarke22]

Hello, OP.
Sorry for your losses there.
While there's nothing wrong with asking professionals in social media platforms, it might worsen your situation as you'll invest your money in it again.

Don't sell your land, OP to risk yourself again. You're digging your own hole deeper to that.
Just find another profession if you would ask me.
I quit day trading and I just started working through freelancing and it went quite well for me actually, though I might have said before that I am leaning a little bit to returning again but meh.

[Peanutswar]

Trading is one of the challenges we can discover in our life it's all about your mental state to hold the coin or position you have or let it go to lessen the risk and make another try. Trading is full of mistakes and failure good state and mindset is make a recovery and learn from that downfall if you think there's a chance to make a comeback go ahead but if you think it's too much take a break and think about it if still worth it to lose or not. I try to make a day trade when my first month it's too much of losses but I try to analyze what's wrong then I found out why and then I tried to go back and make a looking good profit and then if I think it's a good time I grab the opportunity.

[Ridwan Fauzi]

You just need to learn about how trading work, there are at least two main strategies fundamental and technical analyst. By overcome those strategies I bet you will confident when everytime you make an entry and you just need a proccess to recover your previously lose.

This has happened to me, I spend almost $1000 as my fund to trade bitcoin and some altcoins. Indeed, with the leverage system has made me lose my money in short time pariode.

I realized because these things was wrong and I need to do something, finally I started to learn and buy some trading books and it is work to me even I can recover my previous lose. I guess all trader newbie should know about that, the important thing in the trading field is a knowledge and an experience so as he will already know all the market situation.

[sana54210]

You just need to learn about how trading work, there are at least two main strategies fundamental and technical analyst. By overcome those strategies I bet you will confident when everytime you make an entry and you just need a proccess to recover your previously lose.

This has happened to me, I spend almost $1000 as my fund to trade bitcoin and some altcoins. Indeed, with the leverage system has made me lose my money in short time pariode.

I realized because these things was wrong and I need to do something, finally I started to learn and buy some trading books and it is work to me even I can recover my previous lose. I guess all trader newbie should know about that, the important thing in the trading field is a knowledge and an experience so as he will already know all the market situation.

You should be careful about leverages because it is really not something that is easy to handle, that is why there shouldn't be any newbies who go in for the first time, 1000 dollars is a correct choice so that you do not lose more, it of course depends on how much money you have but whichever nation you are from, it should not be a life changing amount anyway so I assume it was just amount you could recover, for me it is a lot of money but I have saved it in the past as well.

In the end we should all realize that leverage is something only experts should do, you could go in and make a lot of money by luck, but the longer you stay the more you will lose, but if you can become a veteran of trading, you could actually end up with a lot of money and that is why I do not think that you should be worried about it now, go ahead and learn spot very well before you consider these.

[tvplus006]

~~~

Your problem is that you are constantly trying to recover your lost deposit, as it happens in gambling, when the loser tries to win back, constantly increasing the risk in the game. Your desire to trade exceeds your desire to learn how to trade. But even in this you are not original, as most traders who lose their deposit begin to learn trading by joining paid and free courses.

[Hypnosis00]

For sometimes we just hook up thinking that we can really do what we wanted but in the end, we don't. Too sad to think but that is the reality. Like to say "I can be a trader" but that seems impossible if we never work to make it better. We can't just be a trader that only lose but we wanted to be a profitable trader. Because if that only we end up losing almost every time, I guarantee you that you will never get your goal.

Maybe or likely quitting is the best thing you do and make yourself assess if you can handle this, the stress coming from trading, or have to know yourselves if this is really meant for you. 

[ReiMomo]

~snip~

Maybe or likely quitting is the best thing you do and make yourself assess if you can handle this, the stress coming from trading, or have to know yourselves if this is really meant for you. 

I guess just because of lack of interest but if not, there is no reason to quit in trading, push yourself to learn more, and put in mind that the mistake should won't let happen again. But that is a different story to recovering losses, once you are in trading, the amount that you spend should must the amount that you can afford either win or lose.

Because recovering losses is something like you are chasing on it which a wrong decision.

[Kelvinid]

~snip~

Maybe or likely quitting is the best thing you do and make yourself assess if you can handle this, the stress coming from trading, or have to know yourselves if this is really meant for you. 

I guess just because of lack of interest but if not, there is no reason to quit in trading, push yourself to learn more, and put in mind that the mistake should won't let happen again. But that is a different story to recovering losses, once you are in trading, the amount that you spend should must the amount that you can afford either win or lose.

Because recovering losses is something like you are chasing on it which a wrong decision.

Chasing losses is the wrong practice because that only leads us to emotional trading and this could give a negative result and possibly more losses on our side. If we lose, just accept it, we can't be good all the time and in fact, this is a part of trading life. May we could say that quitting is not a solution but what will happen if the same results will come. I think it is much better to give up and find another way to recover those losses. It is not a shameful act since we are doing what could be the right thing to do.

[AndySt]

Unlike any other trading environment, you can make big profits in this crypto space just by holding for longer duration. Just plan up trades for years (but within only bitcoin) then definitely you will get at least 10x profits for your investments.

About at least a tenfold profit in bitcoin over the next few years sounds quite bold, because at the current exchange rate, we are already talking about $ 600,000 and I personally am not so sure about this forecast Another question is that you can try to wait for a correction and make a purchase at a lower price. I would be more confident about such a price forecast in altcoins, but there are pitfalls and instability of much larger orders.

[CryptopreneurBrainboss]

Recovering your loses is not easy, and the only way to keep going is to adopt change and to accept all the mistakes you've done over your past trades. This is reminder to you that there's no easy money in this market, so you have to take it seriously.

If we're too concerned about recovering our losses we might end up losing more. The market has a way of capitalizing on our weakness and use it against us. Losing is a process of winning and it's part of the market that you can't escaped so you getting all worked up because you lost is not necessary instead finding out why that particular trade didn't go your way is vital in your growth in the industry.

The trades should all be about making profit and not a fightback mechanism to recovery of lost funds. This will cloud your mind and judgement and cause you to make unhealthy decision that would cost you later. Either you will be pressured to invest in coin with huge potential so as to meet up your losses and also make profit which could be the wrong coin since they're only pumped and dumped and chances are you'll be buying in when the dumps us about to occur.

[Natsuu]

Unlike any other trading environment, you can make big profits in this crypto space just by holding for longer duration. Just plan up trades for years (but within only bitcoin) then definitely you will get at least 10x profits for your investments.

About at least a tenfold profit in bitcoin over the next few years sounds quite bold, because at the current exchange rate, we are already talking about $ 600,000 and I personally am not so sure about this forecast Another question is that you can try to wait for a correction and make a purchase at a lower price. I would be more confident about such a price forecast in altcoins, but there are pitfalls and instability of much larger orders.

Yup in this time and date, btc can just accumulate about maximum of 50% if you will invest right now, unlike in altcoins, tho it is riskier, but the profit is higher than normal. But aren't we, traders, common to risk plays and isn't it our playground

[Wawa2013]

Actually the decision to continue trading or not is in your own hands. As long as you still believe you can succeed with trading, just go ahead and trade.
But you need to pay attention to the way you trade, you try to learn the results of the trading that you have done. Write down all the mistakes you
have made while trading and try to correct them in the next trade.

Actually, it is normal for everyone to experience losses when trading, the most important thing is how we fix the mistakes we have done, so that makes
us suffer losses. If you already know all your mistakes and managed to fix them, I am sure that all the losses you experience can be replaced.
And you can turn to profit, the key to trading is patience.

[traderethereum]

Unlike any other trading environment, you can make big profits in this crypto space just by holding for longer duration. Just plan up trades for years (but within only bitcoin) then definitely you will get at least 10x profits for your investments.

About at least a tenfold profit in bitcoin over the next few years sounds quite bold, because at the current exchange rate, we are already talking about $ 600,000 and I personally am not so sure about this forecast Another question is that you can try to wait for a correction and make a purchase at a lower price. I would be more confident about such a price forecast in altcoins, but there are pitfalls and instability of much larger orders.

Yup in this time and date, btc can just accumulate about maximum of 50% if you will invest right now, unlike in altcoins, tho it is riskier, but the profit is higher than normal. But aren't we, traders, common to risk plays and isn't it our playground

Taking a risk will be okay if you know how to manage the risk because many of us still do not know how to manage the risk.
They use big money to invest in a coin but they do not research more about the coin.
But if they only use bitcoin to trade or invest, they can have a chance to make a profit and if they can hold it for a long time, their profit can be big.
The best thing that we can do is buy low and sell high or buy low and hold if we want to profit.

[cheezcarls]

This reminds me back then about my huge losses of not just one, but multiple coins that I hold. You know why? It’s because I just relying on buying and holding, etc., and not doing some jobs that could give me fixed income or sustainability. I was too greedy back then, but I finally learned my lesson. It took me a long while to move on because of that huge loss, but now that’s just my past and I learn how to manage my risks.

Right now I am into copy and futures trading, and I only invest and trade what I can afford to lose. Of course, I had to admit that my first trade in futures trading was not something that I have expected, but I have managed my risk by only putting an amount to trade where I can just treat it as “dead money”. In that way, I’ve trained my emotions to get stronger despite the loss. Same thing goes to copy trading where my P&L is going sideways and didn’t gained much yet.

But I’ve enjoyed it. I really am.

[Sinjokubhi]

At some point, you just realize that maybe trading is not for you, and there's really nothing wrong with it! Some people hop professions multiple times before they end up doing something what they're good at, and that they enjoy.

Seriously though, you probably already know this, but just look for another source of income. May it be through jobs, gigs, a business, or whatever. Don't just sit there looking at Coinmarketcap.

Best of luck going forward.

Yeah right, from many experiences people think. They, often find a job that is not suitable. Some continue to accept it, and some have changed other professions. Actually this is an option, if you are serious about living the profession, it will probably guarantee you can. Because people's skills vary, many do not realize that their expertise is not there but they are still living it and eventually will arrive at a point where they will feel disgusted and bored with the work, because everyone must have their own limitations.

However, if they like the job, and the job is in accordance with their expertise. They will not feel boredom or boredom. Because that's where their expertise lies and is recognized. It is true, professions according to our expertise are fun. So don't give up easily, like he said. You can find other professions that suit you. If you have not found it, then please enjoy your profession now and live it as it is. While the life is still lingering in our bodies, we can do and choose how our way of life will be.

[jostorres]

This reminds me back then about my huge losses of not just one, but multiple coins that I hold. You know why? It’s because I just relying on buying and holding, etc., and not doing some jobs that could give me fixed income or sustainability. I was too greedy back then, but I finally learned my lesson. It took me a long while to move on because of that huge loss, but now that’s just my past and I learn how to manage my risks.

Right now I am into copy and futures trading, and I only invest and trade what I can afford to lose. Of course, I had to admit that my first trade in futures trading was not something that I have expected, but I have managed my risk by only putting an amount to trade where I can just treat it as “dead money”. In that way, I’ve trained my emotions to get stronger despite the loss. Same thing goes to copy trading where my P&L is going sideways and didn’t gained much yet.

But I’ve enjoyed it. I really am.

That is what we should be all doing, that's what I did as well, if you make a mistake but learn from it, that is a profitable mistake, at least you won't do it again and that is what we need. At the end of the day if you know what you are doing, you will make less and less mistakes in the future and that is going to matter a lot. I have done some changes and differences in my time to my trading but I have always done that because of how much I made mistakes, all those combined to make me a decent trader.

My first ever trade was based on chart reading that I studied somewhere and I have to agree that it was horrible, I didn't lose all because it was spot trading but it was around 50% gone in a week because of that. Nowadays I do not make that type of losses, even on 2018 I didn't make those losses anymore, still had a bad year but wasn't that bad all around.

[Golftech]

Unlike any other trading environment, you can make big profits in this crypto space just by holding for longer duration. Just plan up trades for years (but within only bitcoin) then definitely you will get at least 10x profits for your investments.

About at least a tenfold profit in bitcoin over the next few years sounds quite bold, because at the current exchange rate, we are already talking about $ 600,000 and I personally am not so sure about this forecast Another question is that you can try to wait for a correction and make a purchase at a lower price. I would be more confident about such a price forecast in altcoins, but there are pitfalls and instability of much larger orders.

Yup in this time and date, btc can just accumulate about maximum of 50% if you will invest right now, unlike in altcoins, tho it is riskier, but the profit is higher than normal. But aren't we, traders, common to risk plays and isn't it our playground

Taking a risk will be okay if you know how to manage the risk because many of us still do not know how to manage the risk.
They use big money to invest in a coin but they do not research more about the coin.
But if they only use bitcoin to trade or invest, they can have a chance to make a profit and if they can hold it for a long time, their profit can be big.
The best thing that we can do is buy low and sell high or buy low and hold if we want to profit.

That principle still alive though it's very difficult to predict which directions the market will go,

even you have the knowledge you still need to understand how the market are moving, a lots of

time investors are just blindly follows the trend, very uncareful that leads them to lose their invested

money, you always need to keep enhancing your knowledge if you want to survive from this business.

[dunfida]

Unlike any other trading environment, you can make big profits in this crypto space just by holding for longer duration. Just plan up trades for years (but within only bitcoin) then definitely you will get at least 10x profits for your investments.

About at least a tenfold profit in bitcoin over the next few years sounds quite bold, because at the current exchange rate, we are already talking about $ 600,000 and I personally am not so sure about this forecast Another question is that you can try to wait for a correction and make a purchase at a lower price. I would be more confident about such a price forecast in altcoins, but there are pitfalls and instability of much larger orders.

Yup in this time and date, btc can just accumulate about maximum of 50% if you will invest right now, unlike in altcoins, tho it is riskier, but the profit is higher than normal. But aren't we, traders, common to risk plays and isn't it our playground

Taking a risk will be okay if you know how to manage the risk because many of us still do not know how to manage the risk.
They use big money to invest in a coin but they do not research more about the coin.
But if they only use bitcoin to trade or invest, they can have a chance to make a profit and if they can hold it for a long time, their profit can be big.
The best thing that we can do is buy low and sell high or buy low and hold if we want to profit.

That principle still alive though it's very difficult to predict which directions the market will go,

even you have the knowledge you still need to understand how the market are moving, a lots of

time investors are just blindly follows the trend, very uncareful that leads them to lose their invested

money, you always need to keep enhancing your knowledge if you want to survive from this business.

Being old on this market doesnt automatically signify that you are already pro into this field because this will really be a never ending learning for us
because nothing can really be predicted on what would happen ahead even if you are old and experienced enough.
Losses is inevitable but the thing you should focus is on how to make yourself sustaining in spite of the situation.
Recovery plans is there but you shouldnt hurry up because that would create even more deeper problems when it comes to losses.

[Astvile]

Also I was thinking of selling a piece of  land I own, buy some bitcoin and keep it safe in hardware wallet, not trade with it.

This isn't advisable but worth the risk for me if I were in this situation because we already see how bitcoin pumps over the years.

My advice about your trading journey is to take a break but don't stop learning. Stop trading for a while go study more and then come back stronger. And having a change in your mindset will be a great thing. Never be in the mindset of recovering losses after a losing trade because you will surely lose more. Just accept the loss and forget it no matter how big it or small it is always start with a fresh mindset before you do each trade.

[traderethereum]

Unlike any other trading environment, you can make big profits in this crypto space just by holding for longer duration. Just plan up trades for years (but within only bitcoin) then definitely you will get at least 10x profits for your investments.

About at least a tenfold profit in bitcoin over the next few years sounds quite bold, because at the current exchange rate, we are already talking about $ 600,000 and I personally am not so sure about this forecast Another question is that you can try to wait for a correction and make a purchase at a lower price. I would be more confident about such a price forecast in altcoins, but there are pitfalls and instability of much larger orders.

Yup in this time and date, btc can just accumulate about maximum of 50% if you will invest right now, unlike in altcoins, tho it is riskier, but the profit is higher than normal. But aren't we, traders, common to risk plays and isn't it our playground

Taking a risk will be okay if you know how to manage the risk because many of us still do not know how to manage the risk.
They use big money to invest in a coin but they do not research more about the coin.
But if they only use bitcoin to trade or invest, they can have a chance to make a profit and if they can hold it for a long time, their profit can be big.
The best thing that we can do is buy low and sell high or buy low and hold if we want to profit.

That principle still alive though it's very difficult to predict which directions the market will go,

even you have the knowledge you still need to understand how the market are moving, a lots of

time investors are just blindly follows the trend, very uncareful that leads them to lose their invested

money, you always need to keep enhancing your knowledge if you want to survive from this business.

Investors follow the trend because of many things, but mostly, they follow the trend because someone suggests buying or sell the coin without them analyze.
As the investor, they need many things before deciding to buy or sell the coins, one of the ways is they need to analyze and find the sign to enter the market.
But they can just buy the coin at a low price and hold it and do not care about the price moves.
But if somehow they lose in trading, they will try to recover the losses by trading more and be careful.

[blckhawk]

Also I was thinking of selling a piece of  land I own, buy some bitcoin and keep it safe in hardware wallet, not trade with it.

This isn't advisable but worth the risk for me if I were in this situation because we already see how bitcoin pumps over the years.

My advice about your trading journey is to take a break but don't stop learning. Stop trading for a while go study more and then come back stronger. And having a change in your mindset will be a great thing. Never be in the mindset of recovering losses after a losing trade because you will surely lose more. Just accept the loss and forget it no matter how big it or small it is always start with a fresh mindset before you do each trade.

Having the same thought. You don't actually need to quit trading just because if big losses instead take a break and cool your head off. Besides chasing losses is never been good, yes there's a possibility you can retrieve it back but most likely it will just make things worse so forget it. You lose part of your money forget, you will get it back eventually 2 fold or more without noticing. Emotions do matters when it comes to trading that is why you should learn to control them otherwise this will be a trigger to your loss. But if you think trading isn't for you then call it off and look for something you are good at, it is better to know your limitations after all.

[RealMalatesta]

Besides chasing losses is never been good, yes there's a possibility you can retrieve it back but most likely it will just make things worse so forget it. You lose part of your money forget, you will get it back eventually 2 fold or more without noticing.

Chasing losses is hard compared to making 2 fold of profits for given same level of capital; the big differences is triggered by role of emotions. When you are good in technical analysis and able to focus only on your technical part then you can easily make 2 or 3 fold of profits whereas when you worry about your losses then you cannot focus on your technical which will lead to further losses.

As the investor, they need many things before deciding to buy or sell the coins, one of the ways is they need to analyze and find the sign to enter the market.

Analyzing market conditions against various strategies will not let us to book losses again and again. You just need to be sure about having more than 2 method of technical analysis which must cover all the aspects of market influencing factors; this is not just for investors but also applicable for traders.

[Yatsan]

It will not worth the risk of selling the piece of land you have just to buying some Bitcoin for you have better know yourself that you are not that good in trading. What you need to do first is to study and learn all the aspects that you need to know and that will make you to realize what you have done wrong in your past trading and that is when you must strive up again. Avoid doing decisions such as selling your property just to be able to have some Bitcoin to trade. Better do earn some money and use it on trading instead of risking your property for a not sure capacity you have in your trading ability. Learn first and come into realization before engaging once again.

[jostorres]

You don't actually need to quit trading just because if big losses instead take a break and cool your head off. Besides chasing losses is never been good, yes there's a possibility you can retrieve it back but most likely it will just make things worse so forget it. You lose part of your money forget, you will get it back eventually 2 fold or more without noticing. Emotions do matters when it comes to trading that is why you should learn to control them otherwise this will be a trigger to your loss. But if you think trading isn't for you then call it off and look for something you are good at, it is better to know your limitations after all.

"Chasing losses" is not bad on trading, it is not gambling. In trading you recover losses and best way to do it is to learn from your mistakes and make better decisions next time. I learn about my mistakes and make changes accordingly, that way I know what I am doing.

If you give a break, leave, take a breath, do something else for a while and come back days or even weeks later you are going to be missing a lot of chances to make a profit. Plus, if you are involved in crypto that means you follow it up as well and you will keep seeing stuff and you will wish to get back in and won't be able to stay out for too long when you see these things. This is why I think it is quite clear that recovering losses right away is much better than giving a break. This is of course my personal preference, maybe for someone else it is not like that and they have to give a break, I wouldn't know.

[traderethereum]

Besides chasing losses is never been good, yes there's a possibility you can retrieve it back but most likely it will just make things worse so forget it. You lose part of your money forget, you will get it back eventually 2 fold or more without noticing.

Chasing losses is hard compared to making 2 fold of profits for given same level of capital; the big differences is triggered by role of emotions. When you are good in technical analysis and able to focus only on your technical part then you can easily make 2 or 3 fold of profits whereas when you worry about your losses then you cannot focus on your technical which will lead to further losses.

As the investor, they need many things before deciding to buy or sell the coins, one of the ways is they need to analyze and find the sign to enter the market.

Analyzing market conditions against various strategies will not let us to book losses again and again. You just need to be sure about having more than 2 method of technical analysis which must cover all the aspects of market influencing factors; this is not just for investors but also applicable for traders.

Whether it is the investors or the traders, people who want to enter the market must have to learn analysis because they can not expect the market will move as they want.
The traders need to have skills to make analyses that will help them know when to enter the market.
Investors who can research before investing in the coin will know what coin will be potential in the long term, so they do not buy the wrong coin.
If traders and investors have more technical analysis method, they will have more chances to buy any potential coins, bringing them profit in the future.

[lienfaye]

Also I was thinking of selling a piece of  land I own, buy some bitcoin and keep it safe in hardware wallet, not trade with it.

If you still have 20% of your bitcoin left, why do you want to sell a piece of land just to buy btc? Im not saying its a bad decision because we know how bitcoin grow through the years, but I think its better to start from scratch or from the 20% left on his wallet.

Anyway recovering the losses wont be easy but with a concrete plan and strategy, still its possible. Since you already experience to be a trader and probably aware of the mistakes you committed resulting to losses. But trading is not the only way to gain back what you have lost, there are many opportunities out there that might be the best career for you to take. Sometimes we need to be open for other possible ways to maximize our chances to earn.

[CryptopreneurBrainboss]

You don't actually need to quit trading just because if big losses instead take a break and cool your head off. Besides chasing losses is never been good, yes there's a possibility you can retrieve it back but most likely it will just make things worse so forget it. You lose part of your money forget, you will get it back eventually 2 fold or more without noticing. Emotions do matters when it comes to trading that is why you should learn to control them otherwise this will be a trigger to your loss. But if you think trading isn't for you then call it off and look for something you are good at, it is better to know your limitations after all.

"Chasing losses" is not bad on trading, it is not gambling. In trading you recover losses and best way to do it is to learn from your mistakes and make better decisions next time.

Actually chasing losses isn't the ideal trading technique anyone wanting to go far in the field should welcome. Hope you don't understand what it means to chase loses, I'm not speaking about you making a profit on other trade after you have lost in the previous but the idea if wanting to revenge your losses that's deadly.

If a particular trade isn't going well for you, you just have to understand that loss is a part of the game and move on to other trade with a fresh mindset and not with the mindset of wanting to make back your losses because that could affect your decision making and make you make the wrong moves that'll most likely cost you more funds.

[bitgolden]

If a particular trade isn't going well for you, you just have to understand that loss is a part of the game and move on to other trade with a fresh mindset and not with the mindset of wanting to make back your losses because that could affect your decision making and make you make the wrong moves that'll most likely cost you more funds.

I agree because recovering losses with other trades is easier than struggling with open trade without stoploss. Personally I have experienced trading without stoploss and I kept my open trade for weeks but market never bounced back; instead of booking a small loss at stoploss, I lost almost all my capital. Accepting losses and getting back to fresh mindset are the most important things every trader must get practice to. Because, these are the things will help you to recover your losses quickly rather than struggling in the wrong direction of market.

I learned these things after multiple such bitter experience because I did not have this community when I was entering into trading; if this community was with me then I wouldn't have lost most of my capital.

[xSkylarx]

I agree because recovering losses with other trades is easier than struggling with open trade without stoploss. Personally I have experienced trading without stoploss and I kept my open trade for weeks but market never bounced back; instead of booking a small loss at stoploss, I lost almost all my capital. Accepting losses and getting back to fresh mindset are the most important things every trader must get practice to. Because, these are the things will help you to recover your losses quickly rather than struggling in the wrong direction of market.

If you have tight capital, lowering the leverage can also help when you hit the stoploss. At 10x leverage you would only lose half of your margin if your pnl goes -100%. You would not be easily liquidated if you have proper risk management, I've learned this as I was trying to recover my loss also. Everytime I lose, my next trade will have bigger margin as I'm attempting to recover the previous loss but I ended up almost liquidated that time. Good thing I still have some balance in spot trading that I used the 25% of it to start again. Now, I'm slowly recovering from that loss not being greedy with my margins.

[dotcoin.info]

It always hurts to face losses. You have already been given a lot of advice. But there is really little you can do. The most important thing is to stop losses in time.
Stop losing even more than you have already lost, this will already be the beginning of recovery. Next, you need to take a break and review all the moments where you lost and determine whether it was a mistake, more precisely what exactly you made a mistake and what made you make a mistake.

[wiss19]

Meehn you’re firs experience should have been enough to guide you but I guess you didn’t learn from that first one and that is why you ended up repeating the same mistake and losing your money again.

Anyway, I will advise you never to sell that small piece of land you say you own, I know why I am saying this, land is one of the best assets for anyone to own, so keep it for now and don’t rush to sell it and put the whole money in bitcoin. And I don’t know how you’re losing up to 80% because the price really haven’t dipped that much after reaching $60,000, but anyway, you can still just lock up whatever you have now if you’re not in a hurry and wait for it to increase again (you said you’re ready to hold six months).

[isaac_clarke22]

~

From gambler's perspective, it is already looking bad for me when I hear chasing losses.
It simply meant  "trying to win back money you've already lost by gambling more."
It is almost close from struggle to panic reaction to me and that is like digging myself into my own grave already.
Source: http://getgamblingfacts.ca/psychology-of-gambling/dont-get-caught-chasing/#:~:text=Chasing%20losses%20simply%20means%20trying,can%20be%20difficult%20to%20break.

[death69]

You should rest for a while. Trading is not for everyone and I believe the lack of experience and knowledge is giving you the bad results. In trading, people not usually recover their loss. They accepted their loss. It is a part of trading because the losing money gives you time to rethink and experience to become better

If you still want to give it a try, split the 20% of your remaining fund into 2 parts and start trading with 10%. You also need to improve your knowledge by watching more videos and course. If able, please order some books on amazon - those with high recommendation. You can lose your money but you will never lose your knowledge

[cryptolord2077]

You should rest for a while. Trading is not for everyone and I believe the lack of experience and knowledge is giving you the bad results. In trading, people not usually recover their loss. They accepted their loss. It is a part of trading because the losing money gives you time to rethink and experience to become better

If you still want to give it a try, split the 20% of your remaining fund into 2 parts and start trading with 10%. You also need to improve your knowledge by watching more videos and course. If able, please order some books on amazon - those with high recommendation. You can lose your money but you will never lose your knowledge

Rest is the most important thing. I think 10% is a lot. If you want to take a break from blows like this, then I would recommend taking a part of the deposit for 100% and trading at 1% of the deposit, until you start going out into a stable plus. Try to close all deals with a plus. This will help refresh your head and regain faith in yourself.

[proTECH77]

Trading is not what you can just give up because of the losses you experienced in past market. Lost will definitely come but as a trader don't take it as if that is how it will continue occurring in your trade. Do more research concerning the areas you are lacking benefit, so that you can know how to recover all your losses without quitting your trade.

[Mpamaegbu]

To start  with, only book traders (those who don't do actual real live trading) will say it's not good an idea to chase losses in order to recover from lost trades. This is because they truly don't know what the compulsion of recovering losses feels like.

But being under tremendous stress, I overtraded and lost recovered btc and now back to 20%.

A bad work man always blames his tools. Being under stress is the number one factor a trader should look at for before venturing into a trade. A stressed mind isn't equipped to make rational decisions. Being stressed out is analogous to being under pressure to deliver (in this case, it's under pressure to make profit). Every trader has a winning streak as well as a losing streak. What matters is the ability to record more wins than losses at the end of every trading engagement. There is no trader who doesn't suffer losses. Just understand that.

Also I was thinking of selling a piece of  land I own, buy some bitcoin and keep it safe in hardware wallet, not trade with it.

Great idea but it came a little bit late. If you had taken that decision a year ago you would've been in real wealth now. It's too risky to want to try that now, except you want to risk buying at ATH like those who bought in December 2017. Already, it's looking like the alts season is come upon us now. We know how Bitcoin dips whenever alts rally. It's not a great idea to go all out on Bitcoin now.

[Shasha80]

It will not worth the risk of selling the piece of land you have just to buying some Bitcoin for you have better know yourself that you are not that good in trading. What you need to do first is to study and learn all the aspects that you need to know and that will make you to realize what you have done wrong in your past trading and that is when you must strive up again. Avoid doing decisions such as selling your property just to be able to have some Bitcoin to trade. Better do earn some money and use it on trading instead of risking your property for a not sure capacity you have in your trading ability. Learn first and come into realization before engaging once again.

Sometimes many people forget that for trading always use money that we can afford to lose. What many traders think is only profit, by being
too obsessed with profit, so in the end many traders sold their assets in the form of land or houses for trading capital. And what is terrible is
that in the end traders who sacrifice land and houses experience losses that make their capital run out. Hopefully we don't do this, if there are
traders who do it only harming themselves.

As you said, to become a successful trader we should learn to trade first, and always start with a small capital. If with a small capital we are able
to profit, gradually increase the capital we use for trading. What is certain is that the capital we use must be in accordance with the finances that
we each have, indeed to become successful traders requires a long process.

[AicecreaME]

First of all, investing in Bitcoin just to pay your taxes is not really recommended because you know how much volatility Bitcoin has. Second, selling your property just to have Bitcoin is only ideal to do if you have many properties, but if you only have one, please think of another way to earn or have Bitcoin. Now, losing your Bitcoin in Trading doesn't mean that you need to recuperate your losses in Trading as well, if you think you're not good at it and doesn't have any confident, then you have to quit Trading.

There's plenty of way on how to recover your losses, you don't have to glued your eyes in Trading. But I'm not against on your thoughts like selling your property, buy Bitcoin and hodl it, unless, you still have many properties.

[Om.monata]

It can be your experience, you can find your point of error. the best thing is that you can try to learn and understand, do recovery slowly but consistently. do not sacrifice your assets for recovery, let the recovery run slowly

[goldade]

Hi friends,

I am not a professional trader, all I wanted to do is earn some bitcoin so as to pay the potential income tax.
On 23rd Feb, I lost my 80% of bitcoin.
I should have managed risk better, but my worst mistake happened, when I had longed 3x. and I got scared during the dip.
I had lost 50% of my bitcoin in January but I think I got lucky, Elon musk pump helped me recover my lost bitcoin and earn 15% more.
Out of this 115% btc, 80% is lost.
I tried to recover from feb 24 and I was able to make 20% to double and make it 40%.
But being under tremendous stress, I overtraded and lost recovered btc and now back to 20%.
I thought of asking for some guidelines / help from some twitter personalities who are good traders, but I am afraid to approach, because they may think I am going to ask for some bitcoin or I am a scammer. Also I do not personally know any good trader who can help / guide with the strategy to recover my lost bitcoin.
By help I do not mean to give me everyday a trade setup or calls.
my strategy is to go very slow, buying the dips with 2x or 3x leverages and recover bitcoin over period of next 6 months.
I didn't do any revenge trades or high leverage trades to make it all back in one trade. This recovering is easier said than done.
 
Also I was thinking of selling a piece of  land I own, buy some bitcoin and keep it safe in hardware wallet, not trade with it.
And slowly recover from my existing 20%. Or stop trading completely.  This 20% is also quite some. so just stop trading and be content with whatever I have. and DCA in future.
 
Now I don't need to pay any income tax but also lost my bitcoin.
Greatly appreciate any words of wisdom, any help with the strategy to recover my loss.

Thanks and regards,
LongBTC2Moon.

The best strategy to recover losses especially after a losing so much is take a break from trading. However, don't take a break from learning.
This is probably what you should have done in the first place so as to avoid these losses but since yo have learnt the hard way, I think it's best you move n and face the future.
Take time out to learn all there is to trading so that by the time you return to trading, you're not only refreshed, you're also full of knowledge and this time, your losses will be minimal

[death69]

You should rest for a while. Trading is not for everyone and I believe the lack of experience and knowledge is giving you the bad results. In trading, people not usually recover their loss. They accepted their loss. It is a part of trading because the losing money gives you time to rethink and experience to become better

If you still want to give it a try, split the 20% of your remaining fund into 2 parts and start trading with 10%. You also need to improve your knowledge by watching more videos and course. If able, please order some books on amazon - those with high recommendation. You can lose your money but you will never lose your knowledge

Rest is the most important thing. I think 10% is a lot. If you want to take a break from blows like this, then I would recommend taking a part of the deposit for 100% and trading at 1% of the deposit, until you start going out into a stable plus. Try to close all deals with a plus. This will help refresh your head and regain faith in yourself.

Agree. A stable growth is required in order to test whether you are suitable for trading or not. And because it is a test, 1% is enough. If you successfully surpass the test by earning consecutive profit without losing your whole balance, you can think to invest more for the better profit. However, there is always risk in trading. Controlling your emotion with a small amount is easier than a 10x capital. Understand yourself and seal the greedy monster inside you is what you should do to become a better trader. Gooduck then

[Mahanton]

You should rest for a while. Trading is not for everyone and I believe the lack of experience and knowledge is giving you the bad results. In trading, people not usually recover their loss. They accepted their loss. It is a part of trading because the losing money gives you time to rethink and experience to become better

If you still want to give it a try, split the 20% of your remaining fund into 2 parts and start trading with 10%. You also need to improve your knowledge by watching more videos and course. If able, please order some books on amazon - those with high recommendation. You can lose your money but you will never lose your knowledge

Rest is the most important thing. I think 10% is a lot. If you want to take a break from blows like this, then I would recommend taking a part of the deposit for 100% and trading at 1% of the deposit, until you start going out into a stable plus. Try to close all deals with a plus. This will help refresh your head and regain faith in yourself.

Agree. A stable growth is required in order to test whether you are suitable for trading or not. And because it is a test, 1% is enough. If you successfully surpass the test by earning consecutive profit without losing your whole balance, you can think to invest more for the better profit. However, there is always risk in trading. Controlling your emotion with a small amount is easier than a 10x capital. Understand yourself and seal the greedy monster inside you is what you should do to become a better trader. Gooduck then

Human beings are indeed greedy and its inevitable that you wont really be experiencing such stuff specially you are dealing with money and if you do see up some chances then this natural
behavior would just come out thats why experience would really be the key on enhancing up yourself to handling out everything specially your emotion and this is the time you would really
be making your own strategies that needs to be tested for how many times and if you do find out that it isnt working nor profitable then try another one.
This is just a normal thing where trial and error is really needed to enhance yourself.

[Yamifoud]

Recovering our losses will take time, we don't need to hurry but it should be in a timely manner. Controlling our emotions is very important in times like this, otherwise, instead of aiming to recover them all, we are driving more to lose everything we have.

In your case, I think you are doing it right.

my strategy is to go very slow, buying the dips with 2x or 3x leverages and recover bitcoin over period of next 6 months.

People who usually think about trading as an easy money generator are also those most likely they fail. And they keep failing as they aren't able to manage themselves but letting their emotions drive them to wrong decisions and continue to make mistakes.

[Twinkledoe]

Recovering our losses will take time, we don't need to hurry but it should be in a timely manner. Controlling our emotions is very important in times like this, otherwise, instead of aiming to recover them all, we are driving more to lose everything we have.

In your case, I think you are doing it right.

my strategy is to go very slow, buying the dips with 2x or 3x leverages and recover bitcoin over period of next 6 months.

People who usually think about trading as an easy money generator are also those most likely they fail. And they keep failing as they aren't able to manage themselves but letting their emotions drive them to wrong decisions and continue to make mistakes.

They thought trading is a walk in the park. But if they are already in the actual trading market, they will be lost if they don't know what they are getting into. And if you will truly chase your losses, you will notice that you will lose more in the process. Have a plan on how to tackle your trading activities, so at least if not earning your profit, you can minimize your losses.

[lalabotax]

The one that I learned from my own experiences after losing my money because of trading is that I must keep myself there with my family again. And then, if I am really ready for joining in the crypto, just do more research and also consider that. We can see how many people are being like this, And then we can really know how to recover from losses. Moreover after the big losses. I personally will take other coins that have chances to increase more and take profits from it/

[jonval21]

It is very difficult to recover, in 2019 I put a position in LONG, the price was around 4000usd and then the result was devastating, it was when Bitcoin fell to almost 2000usd, it was not pleasant because it jumped the stop loss many times, I tried to recover later but it was impossible for me, what I did was leave in hodl and it was the best decision, but trying to recover what I did was lose more. I really don't recommend it, it's best to wait, Hodl.

[Natsuu]

It is very difficult to recover, in 2019 I put a position in LONG, the price was around 4000usd and then the result was devastating, it was when Bitcoin fell to almost 2000usd, it was not pleasant because it jumped the stop loss many times, I tried to recover later but it was impossible for me, what I did was leave in hodl and it was the best decision, but trying to recover what I did was lose more. I really don't recommend it, it's best to wait, Hodl.

But you did recover it right?, but not for a short term, but you recover it by investing it in a long term run. What I can see about your journey is that you must never rush everything, you must never think of recovering your loses as fast as you can. But in stead, you can recover it if you will stick in what you think is the best way to recover it, no matter how long and how hard it will get.

There's no fast routes or shortcut in this kind of investments, so follow what you plan and stick withit.

P.S. Don't let your emotions take control whenever you get loses.

[Kong Hey Pakboy]

It is very difficult to recover, in 2019 I put a position in LONG, the price was around 4000usd and then the result was devastating, it was when Bitcoin fell to almost 2000usd, it was not pleasant because it jumped the stop loss many times, I tried to recover later but it was impossible for me, what I did was leave in hodl and it was the best decision, but trying to recover what I did was lose more. I really don't recommend it, it's best to wait, Hodl.

A friend of mine adviced me that I shouldn't put anything in trading because if that was the case I would be better off just gambling the money away since they are likely will have the same result, I feel bad that you have a devastating loss and I will keep this story in mind so as to not make the same mistakes.

[tvplus006]

It is very difficult to recover, in 2019 I put a position in LONG, the price was around 4000usd and then the result was devastating, it was when Bitcoin fell to almost 2000usd, it was not pleasant because it jumped the stop loss many times, I tried to recover later but it was impossible for me, what I did was leave in hodl and it was the best decision, but trying to recover what I did was lose more. I really don't recommend it, it's best to wait, Hodl.

Each of us is waiting for a further increase in the price of bitcoin, but this does not mean that you need to hold your coins when BTC is sent to the correction. In time to transfer your bitcoins to stablecoins, so that later you can buy more BTC for the same money, this is the point of trading.

[Mr.right85]

But being under tremendous stress, I overtraded and lost recovered btc and now back to 20%.
I thought of asking for some guidelines / help from some twitter personalities who are good traders, but I am afraid to approach, because they may think I am going to ask for some bitcoin or I am a scammer. Also I do not personally know any good trader who can help / guide with the strategy to recover my lost bitcoin.

From your speculations on how your trading strategy had worked out for you, you are actually doing okay. The only problem is the one you've already spotted out yourself and that is the fact that, you over traded due to so much anxiety on your part. Your desire to gain more and more in the least possible time has put you in the spot that makes you want to place more trades than usual or expected. It doesn't work that way. Trading too often means, your bound to make or pick some wrong trades along the way. Its already a known fact that, your more likely to profit trading bitcoin than other forms of trading. All you've got to do is to wait, have a little patience and your goals might come true.

[SacriFries11]

The one that I learned from my own experiences after losing my money because of trading is that I must keep myself there with my family again. And then, if I am really ready for joining in the crypto, just do more research and also consider that. We can see how many people are being like this, And then we can really know how to recover from losses. Moreover after the big losses. I personally will take other coins that have chances to increase more and take profits from it/

One thing I realised when I losses big money in crypto is that I just need to calm down and thinking what are my mistakes. It's hard to recover losses rather than winning in trading. I experienced about 40% of my capital been gone in just a few minutes of trading and it stress me a lot. If only I just left it and just wait for the price to recover and have patience rather than sold it at small price. In my current situation, it's hard for me to recover quickly what I've lost in a short time, so I'm willing to wait and be patience and of course be sure about the trades that I made.

[Wapfika]

It is very difficult to recover, in 2019 I put a position in LONG, the price was around 4000usd and then the result was devastating, it was when Bitcoin fell to almost 2000usd, it was not pleasant because it jumped the stop loss many times, I tried to recover later but it was impossible for me, what I did was leave in hodl and it was the best decision, but trying to recover what I did was lose more. I really don't recommend it, it's best to wait, Hodl.

If we don't plan to trade more or monitor other altcoins then do no hold altcoins too long, but when it comes in BTC buying BTC and holding it will never go wrong since the price still have more chance to increase in the future, only few were able to invest and adoption isn't that wide yet, soon more institutional companies will invest in crypto. So take this opportunity.

[Kasabus]

It is very difficult to recover, in 2019 I put a position in LONG, the price was around 4000usd and then the result was devastating, it was when Bitcoin fell to almost 2000usd, it was not pleasant because it jumped the stop loss many times, I tried to recover later but it was impossible for me, what I did was leave in hodl and it was the best decision, but trying to recover what I did was lose more. I really don't recommend it, it's best to wait, Hodl.

If we don't plan to trade more or monitor other altcoins then do no hold altcoins too long, but when it comes in BTC buying BTC and holding it will never go wrong since the price still have more chance to increase in the future, only few were able to invest and adoption isn't that wide yet, soon more institutional companies will invest in crypto. So take this opportunity.

Actually, holding is somewhat optional. It likely had no sense if we hold crypto when it is was being dead already for many years, that only a waste of time. This gives us a realization that holding could not give us a huge benefit but sometimes it losses our opportunity. If we could recall how the last 2018 market struggles where people are so much in hopes that altcoins will continue to rally and most of the investors are in a hold but that surprises everyone when bearish had to start and never have the chance to sell at high.

[TheUltraElite]

I am not a professional trader,

Most people who are trading are not as well.

all I wanted to do is earn some bitcoin so as to pay the potential income tax.

Whoa!! Now that is something new I am hearing on this forum. People here more or less talk about how to pay taxes incurred on bitcoin trades rather than using bitcoin to pay other taxes.

Greatly appreciate any words of wisdom, any help with the strategy to recover my loss.

I read through your post and it seems you started with Margin trading. Now for a beginner, if they dont have any previous experience in margin, they will lose money. If that was your case then I am sorry to say, but you took the wrong foot forward.

Beginner should start off with spot trading which is buying/selling asset of crypto. I can see why you got misdirected as well. No wonder the numerous advertisements on social media and continuous spamming of margin trading sites making it the trend on internet in the last 2years.

However, do consider that you have lost money and will not be making up the loss in any manner. Still spot trading is something that you can do. Buy bitcoin at low price and hold it for a time to sell at a profit. Of course this price is much high to buy so cant give advice on that.

But dont go for margin long and short, you will lose more than you even make and at least in spot trading you are having an asset to hold, in margin you only have a contract which is going to get liquidated soon enough. That is how these exchanges make money.

[Kittygalore]

If you are trading because you have to recover losses, I can guarantee you that you are going to incur more losses because you stop thinking about it logically and your riskiness increases because you want to recover the loss as fast as you can, this isn't noticeable and the people that experience this isn't even aware that they are having this. If almost all of your trades are losing,maybe it is time to do some self reflection and choose another path for you.

[zanezane]

If you are trading because you have to recover losses, I can guarantee you that you are going to incur more losses because you stop thinking about it logically and your riskiness increases because you want to recover the loss as fast as you can, this isn't noticeable and the people that experience this isn't even aware that they are having this. If almost all of your trades are losing,maybe it is time to do some self reflection and choose another path for you.

I agree, sometimes quitting is the best option because you will only sink deeper the more you struggle. Trying to recover your losses is the same as trying to gamble back all your losses, which is going to be impossible.

[molsewid]

One thing I realised when I losses big money in crypto is that I just need to calm down and thinking what are my mistakes. It's hard to recover losses rather than winning in trading. I experienced about 40% of my capital been gone in just a few minutes of trading and it stress me a lot. If only I just left it and just wait for the price to recover and have patience rather than sold it at small price. In my current situation, it's hard for me to recover quickly what I've lost in a short time, so I'm willing to wait and be patience and of course be sure about the trades that I made.

Even in myself if I encounter losses one for sure that I always keep in mind was I commited mistakes, and from it I was trying to figure it out what might it be. But to be honest figuring out your mistake wasn't easy as it seems and I experiencing such losses was inevitable and the only remedy we can make was to control ourselves of how much we can afford to lose or how much we can take risks first and foremost and of course have a patience.

[btc-facebook]

The mistake you make is because you don't understand risk management well, and also don't understand technical analysis, it will be difficult to recover your funds if you still insist on trading,
you better hold coins for the mid or long term, because the risk is smaller but profit is very large, the key is to be patient, and sooner or later your losses will recover.

[Twinkledoe]

If you are trading because you have to recover losses, I can guarantee you that you are going to incur more losses because you stop thinking about it logically and your riskiness increases because you want to recover the loss as fast as you can, this isn't noticeable and the people that experience this isn't even aware that they are having this. If almost all of your trades are losing,maybe it is time to do some self reflection and choose another path for you.

Or better yet, stick to bitcoin for the moment. If he can hold for longer time, choose good projects also like BNB and ETH. Chasing your losses will give you a headache and yes, maybe further losses. I hope the OP will not sell his land. There are other options to get back those losses. That's real property that increases its value thru time. And selling it is not very smart move.

[stomachgrowls]

Hi friends,

I am not a professional trader, all I wanted to do is earn some bitcoin so as to pay the potential income tax.
On 23rd Feb, I lost my 80% of bitcoin.
I should have managed risk better, but my worst mistake happened, when I had longed 3x. and I got scared during the dip.
I had lost 50% of my bitcoin in January but I think I got lucky, Elon musk pump helped me recover my lost bitcoin and earn 15% more.
Out of this 115% btc, 80% is lost.
I tried to recover from feb 24 and I was able to make 20% to double and make it 40%.
But being under tremendous stress, I overtraded and lost recovered btc and now back to 20%.
I thought of asking for some guidelines / help from some twitter personalities who are good traders, but I am afraid to approach, because they may think I am going to ask for some bitcoin or I am a scammer. Also I do not personally know any good trader who can help / guide with the strategy to recover my lost bitcoin.
By help I do not mean to give me everyday a trade setup or calls.
my strategy is to go very slow, buying the dips with 2x or 3x leverages and recover bitcoin over period of next 6 months.
I didn't do any revenge trades or high leverage trades to make it all back in one trade. This recovering is easier said than done.
 
Also I was thinking of selling a piece of  land I own, buy some bitcoin and keep it safe in hardware wallet, not trade with it.
And slowly recover from my existing 20%. Or stop trading completely.  This 20% is also quite some. so just stop trading and be content with whatever I have. and DCA in future.
 
Now I don't need to pay any income tax but also lost my bitcoin.
Greatly appreciate any words of wisdom, any help with the strategy to recover my loss.

The common lesson here is "Dont chase losses" this might be common on gambling but also with  trading as well.Dont try to mind of too much on how you would break even or would profit because this will just
end up on affecting your own actions because desperation would always come next if you do have these things in mind.

I dont see the point on selling out a land because it isnt really worth for it to be sold.When you do deal with this market then you should be aware on the risk.

Secure when you do see gains and buyback when you do see opportunity.Dont get confident because if you would make yourself a bit careless on making
positions then it would really be having neither the odds of gaining or lossing.

[Rehan Zakir]

Its a very sad story. Your loss ratio is very big. But it can be recovered with the passage of time. But it is possible so don't be panic to recover your loss so fast. Just keep patient and don't invest your money in one coin. Invest your Bitcoin in different projects with small investments.

[RealMalatesta]

Your loss ratio is very big. But it can be recovered with the passage of time. But it is possible so don't be panic to recover your loss so fast. Just keep patient and don't invest your money in one coin.

Loss ratio will dominate if you fail to wake up after initial 1 or 2 losing trades. Recovering losses must be long road, there you need to be double careful and need to have strong and well tested strategies and along with good control in emotion and money management. I lost big money on trading but recovered them by investments.

I dont see the point on selling out a land because it isnt really worth for it to be sold.When you do deal with this market then you should be aware on the risk.

Practically a trader must do the reverse; from trading profits, they should invest in real estates. But unfortunately the hype from trading will give them false hope to risk even their house/land. When you are confident about making 100x returns then obviously will go selling of valuable properties. But, I never support/recommend it unless otherwise you're going to invest in bitcoins.

[dezoel]

Your loss ratio is very big. But it can be recovered with the passage of time. But it is possible so don't be panic to recover your loss so fast. Just keep patient and don't invest your money in one coin.

Loss ratio will dominate if you fail to wake up after initial 1 or 2 losing trades. Recovering losses must be long road, there you need to be double careful and need to have strong and well tested strategies and along with good control in emotion and money management. I lost big money on trading but recovered them by investments.

The problem is, when you lose 50%, you need 100% to recover and that is the problem. If you invest 100 dollars, and lose 50% that is 50 dollars, and if you want to recover that you need to earn 50 dollars more and that is 100% gain. I know that it is still from 100 dollars to 50 dollars to 100 dollars again, so it is not really that shocking, but it is sometimes a bit more difficult. This is why I think it is quite obvious that gaining the losses is harder while losing the earned ones is easier.

I know that we have been in a bull run and everyone made money, but that doesn't mean that we should be doing nothing just because that happened, we should be still looking for things that would help us, I personally try to gain small by small over long period of time using DCA just to make it back, I do not care about it because I do not need to recover right away.