I am doomed on trading

[Alisha-k]

After purchasing my first coin on binance. I had over $400 worth of Bitcoin. Been a single mother of one promising child I decided to trade my coin so as to afford to feed my family without touching the $400 I have been able to save over the years. Everything went smooth not until I decided to place a buy order. I have never traded before this happens to be my first experience and it turned against me. How do I cope with this and how do I feed my son?

I haven't spent enough time with binance app. I was trying to study the app when I came across the trading aspect of binance app and been so desperate to start earning so I can feed my son I had to take the risk. Currently I am doomed and I don't have a job to fall back to. I do I explain to my baby I have lost our hope of survival.

I wish I can upload my binance screenshot on the forum for proof currently I'm helpless and I need full assistance at this point. I am sorry if I am not supposed to post this on this forum. But I just have to device an alternate means to cover up my lapses before things get out of hands and beyond what I can afford to control. I wish I can get help or suggestions on how to go about this considering the fact I have gone hopeless

[MrcMrc]

First begging is not allowed in this forum and secondly don’t be desperate in trading avoid attaching emotions to trading as it leads to a bad trading decision.
Why should you use your last savings for trading knowing fully well you have a baby to Carter for?
You should have sort for experienced trader advice before jumping into trading.

[chaser15]

If I understand your story correctly, you just placed a buy order right then you didn't mention that you do some selling. I also doubt you will sell at a much lower price as you are on the mission to gain more.

What you have is just a paper loss. What coin did you buy? Just have patience holding it. And remember, trading shouldn't be a source of your income especially if you don't have any source of stable income.

[Luzin]

I wish I can upload my binance screenshot on the forum for proof currently I'm helpless and I need full assistance at this point. I am sorry if I am not supposed to post this on this forum. But I just have to device an alternate means to cover up my lapses before things get out of hands and beyond what I can afford to control. I wish I can get help or suggestions on how to go about this considering the fact I have gone hopeless

Maybe you are too brave to start trading without learning. If you believe in social media too much that Crypto can make you rich quick it will take a process. He should have set aside funds for his basic needs. Use free money for trading, because trading is difficult, even experienced people have mistakes. If you are trading futures, it is possible that your funds will be liquidated if there is no remaining.

[Lucius]

After purchasing my first coin on binance. I had over $400 worth of Bitcoin. Been a single mother of one promising child I decided to trade my coin so as to afford to feed my family without touching the $400 I have been able to save over the years.

You don’t seem to have learned anything from all those answers you got in the second thread, and you are certainly advised not to invest all the money you have because of all the possible risks. @o_e_l_e_o warned you nicely as well as some other members. Furthermore, you cannot expect to make a profit without trading, unless it is a matter of borrowing your BTC and earning interest - but $400 cannot bring you any significant profit.

You absolutely should not put your last remaining money in to bitcoin. The price could drop by 20% tomorrow. Would you be prepared if this happens?

Everything went smooth not until I decided to place a buy order. I have never traded before this happens to be my first experience and it turned against me. How do I cope with this and how do I feed my son?

I think you sold your BTC for less than $400 and now you think something has been lost - but as long as you keep the BTC in your possession you can expect to be able to sell it at that or even higher price. So you have Bitcoin or fiat in some amount, it is impossible that you have nothing - try to better explain to us what you currently have in your Binance account.

[LUCKMCFLY]

Your situation is really difficult, I know that as a parent you do whatever it takes for the good of your child, I understand that part, but at least what investment do you have and how much have you lost? Right now the market in general has a slight correction, but it can continue to fall even more, if you are looking for financial advice you have to take into account its possibilities, what I can advise you is that you take as a preventive measure extract half of the investment so that you do not leave the baby without food, and the other 50% goes to your investment or trade, without despair.

[noorman0]

No, you are not doomed to be in the crypto space for a while.
If at this time the value of your trading cap is not shrinking (at least up to -5%), I suggest you to withdraw it back and think of something else to manage your money with more promise of definite profits and every day. I advise you to start a small business in the real world. I am sure you will find opportunities instead of relying on trading profits that have absolutely no guarantee of success.
Your decision is wrong, obviously $400 is actually for your basic needs. Don't put your hopes on something that is uncertain, you will definitely be disappointed.

[sujonali1819]

I wish I can upload my binance screenshot on the forum for proof currently I'm helpless and I need full assistance at this point. I am sorry if I am not supposed to post this on this forum. But I just have to device an alternate means to cover up my lapses before things get out of hands and beyond what I can afford to control. I wish I can get help or suggestions on how to go about this considering the fact I have gone hopeless

Actually what are you talking about? why you upload binance screenshots here? Are you thinking binance scamming you? If not then no need to upload those screenshots and it will not help you to bring the lose amount back.

I can feel your situation, you have to agree with this situation. Trade means sometime lose sometime profit. Take it easily and learn more about trading.

[taufik123]

do not feel discouraged if you are destined to trade. Despair will only give you a burden.
Trading requires a strong mentality as well as good risk management and capital management.
As a beginner trader you should learn it first. trading requires free money that is not suddenly needed.

[AicecreaME]

I know being a single mom is hard but pushing yourself to do things that you don't even know is very risky, and trading is one of them. Trading is not a thing that you could master overnight and expect high returns after you bought a coin to use it on Trading, it's much better if you invested that $400 on a small business and while you're doing your business, study about trading little by little until you have the right amount of knowledge to risk your money on it.

[jrrsparkles]

After purchasing my first coin on binance. I had over $400 worth of Bitcoin. Been a single mother of one promising child I decided to trade my coin so as to afford to feed my family without touching the $400 I have been able to save over the years. Everything went smooth not until I decided to place a buy order. I have never traded before this happens to be my first experience and it turned against me. How do I cope with this and how do I feed my son?

I haven't spent enough time with binance app. I was trying to study the app when I came across the trading aspect of binance app and been so desperate to start earning so I can feed my son I had to take the risk. Currently I am doomed and I don't have a job to fall back to. I do I explain to my baby I have lost our hope of survival.

I wish I can upload my binance screenshot on the forum for proof currently I'm helpless and I need full assistance at this point. I am sorry if I am not supposed to post this on this forum. But I just have to device an alternate means to cover up my lapses before things get out of hands and beyond what I can afford to control. I wish I can get help or suggestions on how to go about this considering the fact I have gone hopeless

This is not going to work I guess, its like you want to gamble with your final penny to win a lottery.

You can do trading which is not too much difficult but it can't be a only source of income to feed enough for your family, just do trades while you are working to bring fortunes.

[palle11]

Well it is a pity that you have had ill luck on your first. Trading isn't easy for even the experience because it moves are not certain. And incase you get help from anywhere, don't trade except you have gone through some kind of training. The issue is many people wanting to rush in for a fast profit but they don't think the side of losing also. Is a pity for your lose. You will get back to life trust this to happen.

I wish I can upload my binance screenshot on the forum for proof currently I'm helpless and I need full assistance at this point.

Binance is not the issue so no need thinking about screenshot except you want to take users mind away from feeling that you are trying to scam maybe, just my thinking the other way.

[abel1337]

Trading is pretty hard especially on your case that you rely on trading for survivial. I think you should study and learn more about trading. I hope you know the risk in entering the trading scene, Knowledge, Self control, Luck and other factor is needed on acquiring a successful trade. Pressure is one of your hindrance right now since you are trading for survival. I recommend to learn the fundamentals of trading first before trading with your available funds right now to make your winning chance higher.

[The Cryptovator]

I am sorry to say, but the truth is you quite hard. You can't expect to feed your family from the treading within the short term. I don't know who introduced you to trading, you have to know what is trading basically. Buying a coin doesn't mean anything, it would dump or pump as well. But you have to be ready to afford a dump as well. And $400 for trading on Binance is a too small amount at all. If you don't have backup funds then it's hard to take profits from the trading. Trading shouldn't be your primary income source since you don't know either you will be a winner or a loser. Trading isn't really an easy thing, you should have enough patience for trading. Since you are thinking to feed your family from trade earnings, so patience is useless here. Please find some other job besides trading either offline or online.

[jrrsparkles]

Well it is a pity that you have had ill luck on your first. Trading isn't easy for even the experience because it moves are not certain. And incase you get help from anywhere, don't trade except you have gone through some kind of training. The issue is many people wanting to rush in for a fast profit but they don't think the side of losing also. Is a pity for your lose. You will get back to life trust this to happen.

I wish I can upload my binance screenshot on the forum for proof currently I'm helpless and I need full assistance at this point.

Binance is not the issue so no need thinking about screenshot except you want to take users mind away from feeling that you are trying to scam maybe, just my thinking the other way.

You quoted the wrong user dude.

I though she is looking for assistance with trading but it seems she is looking for financial assistance which is not allowed since we call it as begging here.

[YOSHIE]

How do I cope with this and how do I feed my son?

You have to work on the side, besides you, have to trade in the world of crypto as your main livelihood to eat, except: you are very professional in trading/investing crypto/Bitcoin.

Hello, mom. If you are buying / selling on the Binance / crypto market and to profit from your $ 400 balance, you should learn about the crypto assets you are trading, analysis, chart scoring is important and many others, if you don't have a regular job, if you want to continue trading in the crypto world.

For that I have a little information for you below, what you need to do in trading crypto = Bitcoin.
Hopefully it can help you to buy food for your child, if you want to learn it.

1. How to Make Money in Crypto
2. Topic: Crypto Trading Strategies for Beginners
3. Topic: How do you manage your profits in trading?

[livingfree]

Is that the life savings that you've mistakenly put into the trade? you shouldn't be discouraged in life because you're still alive and there are other ways for you to feed your child.

Don't trade after that experience.

And instead of trading, you should hold if you ever have some cryptos remaining.

[Mahanton]

First begging is not allowed in this forum and secondly don’t be desperate in trading avoid attaching emotions to trading as it leads to a bad trading decision.
Why should you use your last savings for trading knowing fully well you have a baby to Carter for?
You should have sort for experienced trader advice before jumping into trading.

When someone do make out some story and some sort of asking for some support then i do really have these kind of impressions about begging but lets tell that op isnt really aiming for that one
but just focusing on how she would able to resolved this problem.Lets say he had made out some  mistake on that buy order then its not really a total loss.She might able to buy something
on expensive but doesnt mean that you had lost out everything.@OP, what coin you had bought? At least put up some more information so that people on the community wont
boggled up or not having those questions.Also, dont risk out the amount that you cant afford to lose, dont risk up life savings or some sort.

[Freddy11]

There is nothing but to move on. If you genuinely faced this issue then nothing but to move on. Life is all about failures, mistakes and regret. Yet is it must to look beyond and enjoy the show, its not going to last forever.

[agustina2]

How did you lose it all? Binance futures or Binance Spot?

If it's Spot, then why you sold right away if the value is already losing? Sometimes, you don't need to Stop-Loss if the coin you pick always reached your buying price, just hold! You are in crypto for years so you should understand by now that hold is already part of the trading. Patience and just be calm. Should served that as a lesson. The lose now happened and no choice but to accept it. It's not the end of the day. Move on! $400 is not an amount that will change your view towards life.