Recovering losses

[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.

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[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.