I am doomed on trading

[mindrust]

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 crypto trading investing and shit isn't for the people who live pay check to pay check if you ask me. Only deal with crypto (and any other investment) if you can afford to save any money. If you can save $100 every month, fine you can do whatever you want with it. If you can't, then it means you have other priorities.

Find another way to increase your monthly income before you play the crypto game. Trading can be a job too but those who make money from trading and investing are usually already rich and they can sustain themselves for many decades without working anymore.

[death69]

What coin do you buy? If it is bitcoin, you can hold it

I have few advices for you. First, you have to accept the true that not your trade order can go against you. It is not too bad because waiting is one of the best way for your coin to recover back to the entry point. Second, do not invest if you can't afford to lose. Admitting that you will have a possibility to lose your money in trading. Third, knowledge is the key element making a successful trader. Learn before investing. Do not rush.

I hope that you will soon recover your budget. Bitcoin momentum is still very strong IMO so do not worry much

[Vaculin]

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?

You've got in the wrong timing since Bitcoin prices went down. It was the risk that usually meant to happen any time that is how important it to analyze the market first and not to buy coin/s that are already in the hypes as it was more prone to dump.
Yeah, it feels bad but that is how the life of a trader. What I could suggest to you is to hold it for a while, who knows if Bitcoin will rallying back high again after this correction. If ever it won't get back high, your option is to either HOLD or SELL it at loss.

[cryptoaddictchie]

I pity OP but somehow I feel the post isn't good or necessary isn't it? Cause the topic is something like begging or what. It's not right to risk your money into something you don't even sure if there is a clear future especially if you have a child depending on the decision you are making. It's not an easy goal to achieve a good trading skill just by learning the app. It's all about the whole market and not just the platform you gonna work on.

Sorry about if the money was lost maybe you just came at a wrong time since the price now is awfully high and needed some corrections.

[awik p]

the world of trading can sometimes be said to be cruel without mercy. but I think the main thing in this position, is humans who are obsessed with the success of other people and want to get money quickly. therefore, first learning about crypto is needed. and for now, I think you better cut loss. because I see your psychology is not yet established, and learn first with your free money, so that psychological pressure can be suppressed

[maxreish]

Seems you did put all your money into Binance trading. I just hope before you did that buy options, you should stop for a while and think that you dont have any backgrounds in trading.
 
 Putting $400 and all your savings in crypto exchange wasnt a good idea. Because you aim to feed your son from that money and crypto trading wasnt that easy as you think it is.
 What solution will you gonna do? Find a sideline job, restart with your left money in Binance and just hold it until bitcoin recovers.

[Xinarae*]

In fact as easy as it is to do business in crypto if you don't know anything about crypto everything will start to decline. The way you start your business has the potential to be risky, so you need to set your mindset and understand the market strategies entrepreneurs need to look at their own capital before making a decision and it is not so easy to set up a small business and work on it until it is profitable. In order for a business to reach a profitable position time money focus must be fully applied if there is a risk in trading it is better to keep the risk low here.

[NeverSop]

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

Unfortunately, it is clear that for $ 400 you have spent a lot of effort and time in trading towards raising your son.  That makes toii believe that you are a very responsible person for motherhood.  I am not a follower of trading, I have a job with me.  the time I devoted myself to learning how to invest is right and wrong!  I hope you live again, also remember, your son will also be the most valuable asset!

[Kasabus]

Remember that trading isn't for everyone and you think it wrongly into relying the future of your son and yours in trading which I'd find that you are headed to a big troubles. If you have start in trading too early when the market isn't in the bullish season. it looks like it works great and profitable. But somehow, you are entering during the hypes and it makes difficult for the price to even grow more , instead of a chance to dump and causes you to become hopeless.   

[so98nn]

As of now everyone is in the dip and baffled by the crypto currency dump so you done nothing wrong. I would not suggest you to invest you more money into crypto at this point but for a big investor this is a great opportunity to enter. The whole thing is turned down due to legit reason of China electricity failure.

So for you, please hold whatever you have right now and don’t panic sell. Everything has proper timing and currently we should be in silent mode. No Huss and fuss in the trading if you are not experienced one.

Moreover, you can always use binance lite version which is way to easy to use.

[Kittygalore]

You didn't have to go full on trading a lot of money just to learn how to trade, there are paper trading out there that can help you experience trading while not making any real losses. I can't help you regarding money since I am broke as well but my advice to you is that you shouldn't do trading if you can just hodl bitcoin.

[Taskford]

Remember that trading isn't for everyone and you think it wrongly into relying the future of your son and yours in trading which I'd find that you are headed to a big troubles. If you have start in trading too early when the market isn't in the bullish season. it looks like it works great and profitable. But somehow, you are entering during the hypes and it makes difficult for the price to even grow more , instead of a chance to dump and causes you to become hopeless.   

Yeah it isn't for everyone if they are not willing to learn and just rely on signals given by experience traders but id they are eager to learn some strategies which can help on their trades for sure they will know how technical it is and know how to counter the marker if there's fast changes happening on it.

And those newbies who enter the scene right now are been burn as the marker is still at bearish state maybe they should wait more if they want to take their position since looks like we can see more dumps in next 24 hours.

[electronicash]

having an investment is good because you have something to look forward to. but don't trade if you didn't learn it yet.

if you have to invest your $400, make sure you have something else that could make you survive and support your daily needs. a job will be a good help for you because you are raising a kid which you have more pressure to handle. you need to be a friend to your kid while you have to work as well. start by finding a job whether online or not. i would recommend online though because that will make you available to your kid every time.

[goaldigger]

Trading without knowledge is risky and you'll lose money, that's what happen to the money of OP.
You''re not doomed in trading, you just forget to study before you make trade but if you do your part analyzing the chart, then you can be good in trading. Beside, don't depend too much on trading for your daily expenses because you can't make money always in trading most of the traders are losing money almost everyday, so better to look for other source of income and before you trade again, start learning first.

[Tomiwa_akin]

this is really not clear, losing money by just placing a buy order is not clear. did the token dump or you traded futures and lost it. you need to give more clear explanation so people will know what really happened. please dont trade if you dont have enough trading knowledge. you need to learn first before you earn.

[xianbits]

this is really not clear, losing money by just placing a buy order is not clear. did the token dump or you traded futures and lost it. you need to give more clear explanation so people will know what really happened. please dont trade if you dont have enough trading knowledge. you need to learn first before you earn.

Well, there are two possibilities.
1. She came across the futures trading in binance with a very little idea on what she was doing and "longed" a certain coin that eventually made all of her funds liquidated.
2. She bought a certain coin in spot but the price went even lower and she thinks she's doomed.

I hope she's only in number 2 so she can still have a chance of getting her 400$ back when the price goes up again. Too bad, she jumped into trading with desparation but without enough basic knowledge on what she is doing. I wished someone has told her before "to invest what she only can afford to lose".

[Questat]

Trading without knowledge is risky and you'll lose money, that's what happen to the money of OP.
You''re not doomed in trading, you just forget to study before you make trade but if you do your part analyzing the chart, then you can be good in trading. Beside, don't depend too much on trading for your daily expenses because you can't make money always in trading most of the traders are losing money almost everyday, so better to look for other source of income and before you trade again, start learning first.

Learning is an investment and it is a vital thing to acquire before we got into the decision to start trading. But it looks like OP skip to it.
It is either she blames herself or the Binance app but it has done already. We can never get back and ask for a 2nd chance. And as OP losses such huge capital and have no other resources, I feel bad that she might not able to continue in trading.

But anyway, I also suggest her to stop doing this until she prepared enough.

[goldade]

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

Well, there's really nothing anyone can do about that. Nothing can be done to reverse what has happened. You're just like everyone else that rush into trading hoping to make a quick fortune out of it only to realise it's not as easy as it seems.
Trading isn't something one can dabble into. It takes quite a lot of learning and understanding how the market works. Only if you have the necessary knowledge needed for trading would you be able trade successfully and make profits. Until then, you'd only be trading at a loss.
Well, you've learnt your lesson even though it's the hard way. Move on and do the needful

[lixer]

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.

Really, I don’t know what’s wrong with people did you do your research first before considering to become a trader and trading cryptocurrency? Before doing anything always make sure that you do proper research to be sure of what you’re getting yourself into. Haven’t you heard that trading is a risky business to do, or do you think it is all about making profit?

One advice I give to newbie traders is that they should never get into trading if they don’t have a good stable means of income, because you’re running the risk of losing the little you have and being left with nothing.

[Ridwan Fauzi]

Seem like you are not alone, there will be many people who will fall to the same thing as yours. Even, this situation will always happen when bitcoin price touch new all time high. Yeah, take a look with the previous year or 2017 ago when bitcoin price touched $20.000 there were many new comers who didn't know bitcoin or didn't know how investing/trading work obtrude themselve to do that and eventually lossing their money.

Also, the information is true that now trading is more popular than social media. A lot of people are trying to find another income and choose trading as a way whilst trading is a hard way to be made as an income. You need at least five years to feel how trading can be said as a source income. The knowledge about trading is really complex, you need to force to learn a lot of trading strategy and practice it. So, if you serious to be a trader then you must learn a lot about trading strategy until you have your trading system that can give you profit consistent.