I am doomed on trading

[boyptc]

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.

There are stories that actually tells that they have made a lot of profit in trading. There's sort of bias on it because it had happened to them and not because they've made it, everyone can make it, just no.

In OPs case, admitting that he's doomed in trading is a sign of acceptance and that's good to have that attitude. It's a sign of being patient and willing to learn. Well anyway, he had probably recover from this and made a better decision.

[carlfebz2]

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.

There are stories that actually tells that they have made a lot of profit in trading. There's sort of bias on it because it had happened to them and not because they've made it, everyone can make it, just no.

In OPs case, admitting that he's doomed in trading is a sign of acceptance and that's good to have that attitude. It's a sign of being patient and willing to learn. Well anyway, he had probably recover from this and made a better decision.

Acceptance is the key because if you dont welcome any losses or mistakes then you wouldnt really progress as a trader and minding off that losses are inevitable thing to experience which simply means that

in order for you to make yourself better is that you should learn from those mistakes and improve the ways of your own trading.Majority might ending up on getting wrecked but it doesnt mean that

it would really be over.Decisions on quitting or stopping would be personal but dont make out conclusions in just few fail attempts or engagement.

[Sled]

snipped...

There are stories that actually tells that they have made a lot of profit in trading. There's sort of bias on it because it had happened to them and not because they've made it, everyone can make it, just no.

In OPs case, admitting that he's doomed in trading is a sign of acceptance and that's good to have that attitude. It's a sign of being patient and willing to learn. Well anyway, he had probably recover from this and made a better decision.

Acceptance is the key because if you dont welcome any losses or mistakes then you wouldnt really progress as a trader and minding off that losses are inevitable thing to experience which simply means that

in order for you to make yourself better is that you should learn from those mistakes and improve the ways of your own trading.Majority might ending up on getting wrecked but it doesnt mean that

it would really be over.Decisions on quitting or stopping would be personal but dont make out conclusions in just few fail attempts or engagement.

Whether we like it or not, mistakes can't be avoided even though we are too careful of our doings. That I believe it was a part of our life as sometimes we become distracted and can't focus especially when making a decision. But we don't let this thing become a reason why we stopped but instead, make this a reason to work hard and be even more careful. For me, a consider this as a blessing in disguise where I have to push myself to learn more and make more searches than being enough to what I have today. And I believe that there is no forever darkness  in our life which means that we can still see light someday.

[LastKiss]

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

Wait what? You lose your $400 from trading or what  

Let something like this become our experience and always use your money that you can afford to lose so when something like this occurs you won't be depressed so much. It's better to start at a little first and learn how it works. Many people at first will feel hopeless because they just lose their money but it will fade away and become your experience in trading for the next trade.  

[Finestream]

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

Wait what? You lose your $400 from trading or what 

Let something like this become our experience and always use your money that you can afford to lose so when something like this occurs you won't be depressed so much. It's better to start at a little first and learn how it works. Many people at first will feel hopeless because they just lose their money but it will fade away and become your experience in trading for the next trade. 

Losing is part of trading but in your case OP, you should have not traded in the first place when you don't have enough experiences in trading yet, because you will really expect losses than gains. Aside that, you should never take risk the money you only have because once its lose, its already lose. And you and your son will experience the consequence of your actions. If i were you, do not rely in trading, instead, go and look for a stable job that can sustain your child. Trading is for everyone, but not everyone can be able to sustain profits in trading.

[AnisahSiti]

Wait what? You lose your $400 from trading or what  

Let something like this become our experience and always use your money that you can afford to lose so when something like this occurs you won't be depressed so much. It's better to start at a little first and learn how it works. Many people at first will feel hopeless because they just lose their money but it will fade away and become your experience in trading for the next trade.  

True, it's better to use a little money first to learn self-control. However, if you are forced to use a large money, be brave enough to determine how many dollars you want to lose (cut loss).

[Yamifoud]

Wait what? You lose your $400 from trading or what  

Let something like this become our experience and always use your money that you can afford to lose so when something like this occurs you won't be depressed so much. It's better to start at a little first and learn how it works. Many people at first will feel hopeless because they just lose their money but it will fade away and become your experience in trading for the next trade.  

True, it's better to use a little money first to learn self-control. However, if you are forced to use a large money, be brave enough to determine how many dollars you want to lose (cut loss).

Then, don't get forced, otherwise. It was best to start at a small amount for we are just in the learning process and the time that we are fully ready for a huge trade and capable enough, then that was the time to spend more. Trading is not a race that we need to be in a hurry, we should think that every mistake would lead to losses and we can't bring the time back. If we are wanted to be sure that we can make more profit instead of losses, we need to ready ourselves first.

[milewilda]

Wait what? You lose your $400 from trading or what  

Let something like this become our experience and always use your money that you can afford to lose so when something like this occurs you won't be depressed so much. It's better to start at a little first and learn how it works. Many people at first will feel hopeless because they just lose their money but it will fade away and become your experience in trading for the next trade.  

True, it's better to use a little money first to learn self-control. However, if you are forced to use a large money, be brave enough to determine how many dollars you want to lose (cut loss).

The problem here is that whenever you do make big profits out of those small investment or capital of yours then you would really be minding that making money is easy
and thats the time you do set out your orderbooks a little bit bigger or the worst you do really go all in with a particular trading entry which neither might result into huge loss
or big profits depending on the market condition or simply in talks on becoming a gambler like mind which you do become greedy.

[Tellek Garing]

To some extent, I don't see your situation as doomed as you still gain at first but you allowed your quest for more profits to beclouded your sense of judgment and you went all in for the wring trading pair I will advise you always use small amount whenever you want to trade in an uncertain asset that way you can easily manage yours loses.

[Edith1994]

I'm sorry about your lost but you should have use your common sense, well welcome to the market, I believe you have learnt your lesson.

No pain no gain
Experience is the best teacher

[tippytoes]

To some extent, I don't see your situation as doomed as you still gain at first but you allowed your quest for more profits to beclouded your sense of judgment and you went all in for the wring trading pair I will advise you always use small amount whenever you want to trade in an uncertain asset that way you can easily manage yours loses.

Sadly, some people are driven by greed and we all do at some point of our trading life. But we can always learn our lessons here. The OP should not give up in this market, one mistake will not define you as a trader. It will only give you reason to learn from your mistakes and come back strong. Many of us need to experience loss, before we wake to the reality of trading. Also, I am hoping that the OP is not just wanting some sympathy so people can donate to her.

[goinmerry]

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.

There are stories that actually tells that they have made a lot of profit in trading. There's sort of bias on it because it had happened to them and not because they've made it, everyone can make it, just no.

In OPs case, admitting that he's doomed in trading is a sign of acceptance and that's good to have that attitude. It's a sign of being patient and willing to learn. Well anyway, he had probably recover from this and made a better decision.

Acceptance is the key because if you dont welcome any losses or mistakes then you wouldnt really progress as a trader and minding off that losses are inevitable thing to experience which simply means that

in order for you to make yourself better is that you should learn from those mistakes and improve the ways of your own trading.Majority might ending up on getting wrecked but it doesnt mean that

it would really be over.Decisions on quitting or stopping would be personal but dont make out conclusions in just few fail attempts or engagement.

Anyone should realize that without a bad experience in trading, we won't be able to improve our skills. Take all those losses and painful experiences as our reference not to have the same mistake. It's a common and usual experience and we are not alone. I don't remember anyone who don't experience bad trades as it's impossible to happen.

Even the most knowledgeable traders in the world still experience losing. There's no 100% perfect trade. Newbies should think of that. The goal is to minimize losing and not to avoid losing at most of the cases.

[Zlantann]

In investing, you don't put in more than you can bear when you loose. As parents you must ensure that you don't invest your savings that is meant to provide for your family. Losses are part of business and somethings inevitable, hence we must learn to invest only a part of our savings.

[Slow death]

this is a very sad story, you should first do an experiment so that when you go to trade with real money you will have an idea that you are prepared to trade and how everything works you should not trade with real money if the person is not ready to do so trade.

advice to cover your loss would be if you could look for a business in the real world and make a profit. this would be the best and safest option for you right now

[Sebas.tian]

This is a touching story many investors will need to read and listen not to fall victim to such scam trading in the community. I know your story is a reality but nothing we can do to help you arebecause it happened for other traders to learn a lesson not to invest their money to such fake investment. Don't allow the challenges to defeat you in crypto trading because many professional traders has experience such doomed in their trading system that later make them to become a successful profit making in their business.

Lean how to carry out your personal research before investing your money on a particular project not to experience losses in the future.

[doomloop]

In investing, you don't put in more than you can bear when you loose. As parents you must ensure that you don't invest your savings that is meant to provide for your family. Losses are part of business and somethings inevitable, hence we must learn to invest only a part of our savings.

The fact that she said she doesn’t have any job or a source of income, but still went on to trade cryptocurrency with all her savings is what surprised me here. How can someone choose to trade cryptocurrency when they don’t have a source of income and also knowing fully well that cryptocurrency trading is a lot risky ?

There would have been a lot other things to do with that money than choosing to take risk in this volatile cryptocurrency market. People tend to think that cryptocurrency can make them quick money, but this is not true. They really need to understand that this is a risky business, you can lose your money in it. Before trading, you have to learn a lot about the market starting from the basics.

[JunkieMiner]

Trading didn't mean that if someone didn't have money for his family and he/she didn't have money for his daily uses and he want to earn through trading, that might be a bad thinking for a person who wants to start trading and investing if he didn't have a strong support even, this is just my opinion. Firstly a man should be stable then he should start trading. This will certainly make a person to trade with free mind and tension free.

[Oilacris]

Trading didn't mean that if someone didn't have money for his family and he/she didn't have money for his daily uses and he want to earn through trading, that might be a bad thinking for a person who wants to start trading and investing if he didn't have a strong support even, this is just my opinion. Firstly a man should be stable then he should start trading. This will certainly make a person to trade with free mind and tension free.

Making it as a last resort of your funds and hoping that you could able to sustain or maintain on making profits?If yes, then this thing isnt for you because you would surely be hurrying up on

making yourself on doing trades which it might result into desperate moves which isnt really that appealing or recommendable when doing trades.You would really likely to experience losses

rather than on earning.Losses is inevitable and couldnt really be avoided but what matters here is that on how you do survive.

[livingfree]

In investing, you don't put in more than you can bear when you loose. As parents you must ensure that you don't invest your savings that is meant to provide for your family. Losses are part of business and somethings inevitable, hence we must learn to invest only a part of our savings.

It's saddening when there are people that still can't control themselves upon investing and coming to the point of investing including their life savings.

That's an uncontrollable thing for those folks and they're new to it.

In trading, it's a gamble that you need to play with numbers and emotions. You just don't spin the roulette and wait for the result. It needs critical thinking and analysis which needs to exert more effort.

[Tellek Garing]

Trading comes with a lot of risks, so instead of using your last money or borrowing to trade with is not a good idea that is why one is always advised to trade with spare money in other not to slide into depression when your trade goes wrong.

It's quite unfortunate that these mistakes always happen to newbie traders because lack control and adequate knowledge in trading.