I am doomed on trading

[jhonjhon]

When it comes to trading, it is important to educate yourself first. Do the necessary research and analyze before making any decisions. Trading with all your saving is just a foolish idea.Start with something that you can afford to lose. Make sure you do not invest more money that you need to, otherwise you could end up with a serious loss that could affect your future plan.
Temporary losses during a trade are natural outcome to manage.Nobody can avoid losses,but how you handle losses makes all difference.

What has done is done.We made mistakes but we have to learn from it.No matter how hard it might seem to you right now, there is a purpose for it.There is a better opportunity waiting for you. Just be patient and dont lose hope Life goes on.

[1714686070]

1714686070

[1714686070]

1714686070

[goldkingcoiner]

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

Investing is not a short term game. This is really something you should always keep in mind. Secondly, DO NOT PANIC. AND DO NOT SELL. In fact, it would definitely be best to not make any actions based on emotions. Bitcoin goes up and down up and down. Just because you got in when it was going up but went down, does not mean you lost your money. But it does mean that you must stay patient.

But it is also wise not to put any money into Bitcoin which you really really need short term.

Edit:

Tip if you need money: a lot of people are looking for someone to do simple jobs on this forum. Like signature campaigns or social media managing. You can also translate and much more... Making an extra $400 a month is no problem.

[Alert31]

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

You are too brave to trade without enough knowledge. Trading is not an easy money making machine. It needs knowledge, patience and strategies. It is always reminded here that invest only the amount that you can afford to lose because trading or other kinds of investment involves risk. Trading is profitable if you have knowledge about it and of course choose the best coin to trade. In my country $400 is huge amount already, enough to use as capital in trading.

[Viscore]

Theres no such thing as fast money when it comes to trading. You gotta put a lot of hardwork,patience and knowledge in order for you to achieve your goal. .Some people think it is quick easy money. But the truth is,thats not just the way how it works. Thats why you get frustrated,and realize that its not quick and easy as what you think.Trading is not a job, it is a business. And when it comes to business, there is always a risk behind it.
Anyway,its already done. Lets just think that is a part of your experience. You just need to accept the truth ,that you made a mistake. And you have to learn from your mistakes.

Everything happens for a reason.

[Botnake]

Theres no such thing as fast money when it comes to trading. You gotta put a lot of hardwork,patience and knowledge in order for you to achieve your goal. .Some people think it is quick easy money. But the truth is,thats not just the way how it works. Thats why you get frustrated,and realize that its not quick and easy as what you think.Trading is not a job, it is a business. And when it comes to business, there is always a risk behind it.
Anyway,its already done. Lets just think that is a part of your experience. You just need to accept the truth ,that you made a mistake. And you have to learn from your mistakes.

Everything happens for a reason.

It really depends on how you see the mistake, if it's a learning experience for you then it should help you improve, and who knows you'll be successful in the future. Not every trader had overnight success, most of them build their success over a period of time, and they achieved it because they don't give up easily.

[Flexystar]

That’s really terrible to read. I’m not sure at what point you started the trading and what was your skill pursuance at the time; but I’m sure gaming is something one should not really believe at first glance. Remember that whenever it is money related matter you should think hundred times before investing. I mean if you are salaried person then that’s the first priority. I understand that being on fixed income we always tend to go ahead and make another income sources for ourselves but we have to be very careful how we spend it.

There is nothing about Binance here frankly. It’s all about how much you know trading and limits of your trade too.

[2girls]

I can understand your feeling. I will not criticize as other members have done. First please provide details correctly which coin you have bought and now how many $ have remained in your account. If the coin has the potential to increase we will suggest you hold if it is not so good and you have no any other source of income then you must withdraw that money and avoid trading with that money.
Find a good job.
Work in bounties, join big airdrops(These will not give you stable income but they will be little helpful for you.)

[carlfebz2]

I can understand your feeling. I will not criticize as other members have done. First please provide details correctly which coin you have bought and now how many $ have remained in your account. If the coin has the potential to increase we will suggest you hold if it is not so good and you have no any other source of income then you must withdraw that money and avoid trading with that money.
Find a good job.
Work in bounties, join big airdrops(These will not give you stable income but they will be little helpful for you.)

Doesnt really need to be that in detail because you could already picture out on how it would really be looks like or in say with general on which people would tend out to quit when they do experience unfortunate events
which it isnt surprising.

We do quit when we are really experiencing those problems without even thinking that we should really study and learn from those mistakes.You do make out easy conclusions behind.
Lets really realize that this market isnt something simple that you could deal with.

[Japinat]

I can understand your feeling. I will not criticize as other members have done. First please provide details correctly which coin you have bought and now how many $ have remained in your account. If the coin has the potential to increase we will suggest you hold if it is not so good and you have no any other source of income then you must withdraw that money and avoid trading with that money.
Find a good job.
Work in bounties, join big airdrops(These will not give you stable income but they will be little helpful for you.)

Doesnt really need to be that in detail because you could already picture out on how it would really be looks like or in say with general on which people would tend out to quit when they do experience unfortunate events
which it isnt surprising.

We do quit when we are really experiencing those problems without even thinking that we should really study and learn from those mistakes.You do make out easy conclusions behind.
Lets really realize that this market isnt something simple that you could deal with.

Trading is good if you think you are consistent in making profits, but if you sacrifice your savings hoping to make the most in trading, that is a very big risk. Plus you have your child with you, so its better to find a stable job that will help you sustain your needs especially the future of your child. You may participate in signature campaigns for now to give you an income but you cannot rely from it for a lifetime. Trading is good as long as you do it as a side income.

[livingfree]

Most people fail at trading because they panic about the crypto market that is going up and down and end up selling it at a low price.

That's so true.

When the starters get in, they're impatient enough to sell those coins that they hold. As the market pumps, they're all happy and waiting to see more of the pump.

But when it starts to dump, that's not making them comfortable and they're all ending up selling even they don't want to because they're being triggered emotionally. It happened to me many times before.

[1win]

Most people fail at trading because they panic about the crypto market that is going up and down and end up selling it at a low price.

That's so true.

When the starters get in, they're impatient enough to sell those coins that they hold. As the market pumps, they're all happy and waiting to see more of the pump.

But when it starts to dump, that's not making them comfortable and they're all ending up selling even they don't want to because they're being triggered emotionally. It happened to me many times before.

I totally agree with above mentioned point of view. It is better not to follow collective trends on market because it might cause wrong decisions. Never forget about volatility and cyclicity of the market. And I think it is good idea to trade with 10% of your income not to lose everything and leave your children in hunger. By the way I got such understanding that only few percent of traders (whales) earn trading in crypto industry. It is essential. But everybody should be aware of risks

[stadus]

Most people fail at trading because they panic about the crypto market that is going up and down and end up selling it at a low price.

That's so true.

When the starters get in, they're impatient enough to sell those coins that they hold. As the market pumps, they're all happy and waiting to see more of the pump.

But when it starts to dump, that's not making them comfortable and they're all ending up selling even they don't want to because they're being triggered emotionally. It happened to me many times before.

This is most common to all newbies as they have less experiences in trading that made them trade with emotions rather than controlling it. And as expected, traders with less experiences are doomed to fail in trading. With OP, never focused in trading as your main source of income. Its always risky to rely much in trading especially if you are still not inclined to it. You can trade but as your side income. You have to look for a day job that will help you to survive along with your child, and the income is consistent and fixed.

[Sanitough]

I can understand your feeling. I will not criticize as other members have done. First please provide details correctly which coin you have bought and now how many $ have remained in your account. If the coin has the potential to increase we will suggest you hold if it is not so good and you have no any other source of income then you must withdraw that money and avoid trading with that money.
Find a good job.
Work in bounties, join big airdrops(These will not give you stable income but they will be little helpful for you.)

Doesnt really need to be that in detail because you could already picture out on how it would really be looks like or in say with general on which people would tend out to quit when they do experience unfortunate events
which it isnt surprising.

We do quit when we are really experiencing those problems without even thinking that we should really study and learn from those mistakes.You do make out easy conclusions behind.
Lets really realize that this market isnt something simple that you could deal with.

Quitting is not really the best solution though, but if you think you have made frequent losses in trading, then its better to quit and accept the fact that trading will not suit you. But for OP, i understand the feeling that you are already obsessed to make profits but trading won't help you and give you profits instantly. Trading demands hardwork, knowledge and skills so you will be good in it, and it will take time before you can attain that. I suggest to look for a good job that will give you a stable source of income. The future of your child is at stake so you should do more good in decision making.

[livingfree]

Most people fail at trading because they panic about the crypto market that is going up and down and end up selling it at a low price.

That's so true.

When the starters get in, they're impatient enough to sell those coins that they hold. As the market pumps, they're all happy and waiting to see more of the pump.

But when it starts to dump, that's not making them comfortable and they're all ending up selling even they don't want to because they're being triggered emotionally. It happened to me many times before.

I totally agree with above mentioned point of view. It is better not to follow collective trends on market because it might cause wrong decisions. Never forget about volatility and cyclicity of the market. And I think it is good idea to trade with 10% of your income not to lose everything and leave your children in hunger. By the way I got such understanding that only few percent of traders (whales) earn trading in crypto industry. It is essential. But everybody should be aware of risks

It's better to have that amount or percentage of your income to use in trading is the one that you really afford to lose.

We always have to remember that trading isn't stable in terms of results. We may win big today but tomorrow is going to be the worst day ever in our trading career.

You just have to be moderate and don't be too assertive.

[Peanutswar]

In the first place, you just need to know already the possible risk of the trading, I guess you come on the peak of the market and bought with the wrong position the market is volatile so if you think the knowledge you have are still lacking to commit a trade better to hold your assets.  Again don't invest what you afford to lose not all the ads saying that you can earn double up in crypto is legit its all about your knowledge and current capital to start.

[beerlover]

Doesnt really need to be that in detail because you could already picture out on how it would really be looks like or in say with general on which people would tend out to quit when they do experience unfortunate events
which it isnt surprising.

We do quit when we are really experiencing those problems without even thinking that we should really study and learn from those mistakes.You do make out easy conclusions behind.
Lets really realize that this market isnt something simple that you could deal with.

Yeah, that is 100% true. Unfortunately many people I have talked to that quit crypto world all kept calling it a scam to steal your money. That shows how they do not even understand the market. I mean sure if you wagered on a shitcoin and then got rug pulled then I would understand but these people called it after bitcoin went down.

So, it is clear that there are too many people who do not understand much about crypto and assume the worst. We need to educate people a lot more to stick around and learn more before they quit, even if they do not keep on investing.

[freedomgo]

In the first place, you just need to know already the possible risk of the trading, I guess you come on the peak of the market and bought with the wrong position the market is volatile so if you think the knowledge you have are still lacking to commit a trade better to hold your assets.  Again don't invest what you afford to lose not all the ads saying that you can earn double up in crypto is legit its all about your knowledge and current capital to start.

This is the reason why you need to be fully prepared before entering the trading market, be it spiritually, physically, and mentally. And of course, your capital should always be considered as you only have to trade on the amount you can afford to lose. I guess OP, you are literally trying to be rush in making profits when in fact, you still have no experience at all. So expect that you will make faults along the way, but that won't be enough reason to stop learning from trading, just take a break while trying to improve all what you have learned from trading.

[Maslate]

In the first place, you just need to know already the possible risk of the trading, I guess you come on the peak of the market and bought with the wrong position the market is volatile so if you think the knowledge you have are still lacking to commit a trade better to hold your assets.  Again don't invest what you afford to lose not all the ads saying that you can earn double up in crypto is legit its all about your knowledge and current capital to start.

yeah, if we can't afford to risk more in trading and are not really confident of ourselves due to lack of knowledge and skills, we'd better decide to hold. It was not cowardice to call, we just make sure that we don't fall into the wrong place like trading as this was a place for everyone. We dare to accept that every single mistake we take in trading will certainly give us losses and I think we don't want it. That is why we have to consider our capabilities first than to say sorry.

[lombok]

On April 20, you ask questions about wallets, then completely ridiculous questions about the Binance exchange, and after two days you write about your results.
I don’t know how sincere you are, but if you decide to become a trader in two days, then you should not blame anyone for your failures. I will not write about the fact that you cannot get rich in a year in cryptocurrency, let alone the fact that without experience, the loss of your money will be obvious.
You have written many posts about how you like to read and study everything, but your rush has played a cruel joke on you from experience.

It is very clear 2 days is a very fatal decision to decide something and hope to immediately get a profit. That's a big mistake!
If I look at Alisha-k's post, which uses $400 where the money is intended for daily needs, it is also very risky.
First of all, if you hope to become a trader, never use money whose purpose is to meet daily needs.
I suspect, did Alisha-k read and understand the basics, or was she tempted by the results of other people who successfully traded on Binance and decided to put $400?
The best solution in my opinion is to withdraw or continue the trade, where I also can't guarantee the money will come back and make a profit. The world of trading is very cruel and requires a lot of knowledge and high focus.

[shawon01]

You can see if you can keep the keep to space for a while. If you have your advice, if the quality of your training camp is not good at this time, then with a certain level of commitment and some other way to manage your money every day.  The reason I am thinking of doing this is because if you do any business in real life, you will be able to do well from there.