I am doomed on trading

[Ararbermas]

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.

True! But sad to say most people are really blind when it comes trading, i mean despite of losses they just keep following their emotions because of greediness not knowing that if they continue the same way they can always burn their money afterwards.

They don't even think to take paper trading first to ensure when they trading live all situation will be fine
instead they preferred to take all the risk.

[Obito]

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.

The problem here is the cockiness, newbies tend to spend more than what they should because they think in the measly wins that they've got, they suddenly think that they can take over the world and then they suffer losses which could have had a least negative effect if it wasn't for their cockiness and then they go in a downward spiral at this point.

[StLucifer]

It is not just one person, it is i not just group of people, it is a whole bunch of people in tens of thousands that fail in trading, including me. Some people are both unlucky and do not have the patience to just day trade all day every day, it is both very hard to learn how to do that and study to become better, but also even if you are great at it, the job itself is not as cool as portrayed in Hollywood movies.

You do not just open up 5 monitors every day, all looking at different charts and make trades all day sipping coffee, that is what you look like from outside but the reality you are dealing with thousands of dollars at minimum, some do it with millions of dollars, you could be up 200k+ one day or down 200k+ that day, having the balls to sit through those and making right decisions even after those things require a lot of expertise and a lot of emotionlessness.

[xSkylarx]

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.

The problem here is the cockiness, newbies tend to spend more than what they should because they think in the measly wins that they've got, they suddenly think that they can take over the world and then they suffer losses which could have had a least negative effect if it wasn't for their cockiness and then they go in a downward spiral at this point.

Agree like overconfident that thinking that without knowledge they can dominate trading or just earn a single penny but the truth is just hitting that button it could ruin your life and lose all of the money so that is why before hitting that button you should read and learn something before diving into trading but all of us will be going thru that weather you have knowledge or not but with knowledge you can lessen the risk and able to start earning a penny.

[stepwilli]

Although I can’t tell if what you’re saying is the truth or not, but I do understand how a situation like this can be. But you made a mistake by venturing into what you don’t know. When you knew that you don’t have any trading skills or experience on how it works, you should have attempted the risk of using all your savings to trade when you know fully well that you have no clue at all on how trading works. What you did was just a gamble.

There isn’t any way that you can get that kind of money back, once you lose money in trading, it is gone for good and there is no getting it back.

[milewilda]

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.

The problem here is the cockiness, newbies tend to spend more than what they should because they think in the measly wins that they've got, they suddenly think that they can take over the world and then they suffer losses which could have had a least negative effect if it wasn't for their cockiness and then they go in a downward spiral at this point.

Agree like overconfident that thinking that without knowledge they can dominate trading or just earn a single penny but the truth is just hitting that button it could ruin your life and lose all of the money so that is why before hitting that button you should read and learn something before diving into trading but all of us will be going thru that weather you have knowledge or not but with knowledge you can lessen the risk and able to start earning a penny.

Most of the time you would only learnt up on things when you do experience unfortunate events but before that you do really have that kind of behavior on which you do really believe on that you could able to handle up trading well or something that is easy and on the time you had experience it for yourself then you would really able to realize that you are dealing with something which is hard to be controlled nor able to guess on what would be your next move and this is the  reality that you would mainly realize for yourself.Lots of mistakes would be experienced but it wouldnt be that just right
that you would quit up directly.

[LastKiss]

I read it like you are risking everything in the world of trading. Well, I can suggest that it's a bad thing, especially that when you say that you don't know much about trading. however, you should realize that trading is a very risky thing. if you're using $400 to study, and it's not money that's important to you, I can understand that, because studying sometimes requires some sacrifice.
It would be great when you get another job that gives you a monthly income for your child, and learn to do this. I can't help much, but I can only give this advice. the world of trading is too risky for a beginner who tries to make a living there. it looks like gambling. if you want to learn trading, then study it properly, so that you can invest with accurate analysis and speculation.

I agree that we are only able to support and give some advice to those who got stuck in trading. Make that event become our experience and don't let the same thing happen again if we want to increase our skills and prevent something like that from happening again we should study and get a friend who can advise us. Although we have already learned a lot about how to analyse accurately we keep making some mistakes in trading.

[Sanitough]

I read it like you are risking everything in the world of trading. Well, I can suggest that it's a bad thing, especially that when you say that you don't know much about trading. however, you should realize that trading is a very risky thing. if you're using $400 to study, and it's not money that's important to you, I can understand that, because studying sometimes requires some sacrifice.
It would be great when you get another job that gives you a monthly income for your child, and learn to do this. I can't help much, but I can only give this advice. the world of trading is too risky for a beginner who tries to make a living there. it looks like gambling. if you want to learn trading, then study it properly, so that you can invest with accurate analysis and speculation.

I agree that we are only able to support and give some advice to those who got stuck in trading. Make that event become our experience and don't let the same thing happen again if we want to increase our skills and prevent something like that from happening again we should study and get a friend who can advise us. Although we have already learned a lot about how to analyse accurately we keep making some mistakes in trading.

a novice trader can not be separated from making mistakes. and from those mistakes make us understand trading better and not make the same mistakes. Isn't it necessary for school to cost money, and learning to trade through a long process, because it is impossible for us to become professional traders in a short time, one thing we must know is that we must enjoy each process.

Just a friendly advice, do not start a game if you think you are not capable to sustain it. Start learning first, and when you think you are ready enough, then that's the time for you to experience the real trading. But don't expect for immediate profits as novice traders are mostly associated with losses at first. However, for a breadwinner like you, trading should not be your main source of income. Look for a stable job instead that can sustain your needs, and maybe trading could only be your second source of income as there's no certainties when will you make profits from it.

[Quidat]

I read it like you are risking everything in the world of trading. Well, I can suggest that it's a bad thing, especially that when you say that you don't know much about trading. however, you should realize that trading is a very risky thing. if you're using $400 to study, and it's not money that's important to you, I can understand that, because studying sometimes requires some sacrifice.
It would be great when you get another job that gives you a monthly income for your child, and learn to do this. I can't help much, but I can only give this advice. the world of trading is too risky for a beginner who tries to make a living there. it looks like gambling. if you want to learn trading, then study it properly, so that you can invest with accurate analysis and speculation.

I agree that we are only able to support and give some advice to those who got stuck in trading. Make that event become our experience and don't let the same thing happen again if we want to increase our skills and prevent something like that from happening again we should study and get a friend who can advise us. Although we have already learned a lot about how to analyse accurately we keep making some mistakes in trading.

a novice trader can not be separated from making mistakes. and from those mistakes make us understand trading better and not make the same mistakes. Isn't it necessary for school to cost money, and learning to trade through a long process, because it is impossible for us to become professional traders in a short time, one thing we must know is that we must enjoy each process.

Just a friendly advice, do not start a game if you think you are not capable to sustain it. Start learning first, and when you think you are ready enough, then that's the time for you to experience the real trading. But don't expect for immediate profits as novice traders are mostly associated with losses at first. However, for a breadwinner like you, trading should not be your main source of income. Look for a stable job instead that can sustain your needs, and maybe trading could only be your second source of income as there's no certainties when will you make profits from it.

No one knows unless they do try and we know that newbie mistakes is really very common but this is where we do learnt up which would be a very common path to take by everyone
because no one starts on being a pro.Sometimes we do just easily give up when we do lost money but if we do realize those mistakes then we would come back but with a better realization
which you would definitely apply it on your future trades.

[Fivestar4everMVP]

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

@op, it's been a long time you made this thread and I know you must have moved on, and seeing that you are now wearing 1xbit signature shows that you later found another means of livelihood, (though incase you don't know, 1xbit is a known scam casino on this forum and I believe the negative trust you received are based on you promoting them), that aside cus that's no the reason I decided to reply you.

If probably you still visit here, then I did like to let you know you didnt say what actually happened which lead to the loss of your fund I believe, stating this would have helped many of us here, most especially the newbies, to learn and avoid making the same mistake(s) any day they find themselves trading in binance or any other crypto exchange, this would have been the first part of your post, before going ahead to ask for whatever kind of assistance you want to ask, even though asking for assistance in this manner isn't permitted on this forum.

[freedomgo]

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

@op, it's been a long time you made this thread and I know you must have moved on, and seeing that you are now wearing 1xbit signature shows that you later found another means of livelihood, (though incase you don't know, 1xbit is a known scam casino on this forum and I believe the negative trust you received are based on you promoting them), that aside cus that's no the reason I decided to reply you.

If probably you still visit here, then I did like to let you know you didnt say what actually happened which lead to the loss of your fund I believe, stating this would have helped many of us here, most especially the newbies, to learn and avoid making the same mistake(s) any day they find themselves trading in binance or any other crypto exchange, this would have been the first part of your post, before going ahead to ask for whatever kind of assistance you want to ask, even though asking for assistance in this manner isn't permitted on this forum.

OP has not been very clear why she had lose that time. But one thing is certain, she started trading even if she has no experience with it which is very wrong. She should not expect to gain profits if she is not sure what she is doing, that leads why she lose her money. For all newbies, i guess we should not just jump to trading if we don't have the knowledge and skills on it. Trading is very risky, one wrong move can lead losing all your capital. So maybe by now, you have learned a lesson from you first trade and i guess you're doing great already in what made you busy right now.

[Captain Corporate]

 Trading when you have zero knowledge is still sort of understandable. If you are not expecting returns all that much, and trading with very small amount then it could be understandable. You have to start somewhere and this could be the way in. However, that should be like %2 of your whole money, and if we are talking about like under 500 dollars then you should not even start and just try to get more money. After you reach above 500, you should deposit that and do like 10 bucks trading each time. That way you could lose a bit, or earn a bit and it wouldn't really matter, won't be too much. But you would at least learn what to do and what not to do.

[ItsCrafty]

Feeling very sad to hear. Why new user not follow The basic rule of Crypto investment "" Don't invest more than what you can afford to lose"" and "" Always invest extra miney on crypto"
Crypto is high risky and if you used Spot trading you have never losed until you sell.

[rojan]

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.

Here sadly some people are driven by people.  And we all do that at some point in our business life but we can learn our lesson here all the time. This market should not be abandoned. This mistake will build you up as a trader.  Many of us will have to face losses before we wake up to the management of the training. I also hope that not only do we want empathy so that people can donate to them and if they work in this way they are expected to have a lot of success.

[shawon01]

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.

Yeah Al that sounds pretty crap to me, Looks like BT aint for me either, Looks like BT aint for me either, Looks like BT aint for me either, Looks like BT aint for me either  Nor are most of them to build their success in a timely manner and they have achieved one because they did not give up easily and they can be assumed to have succeeded since they caught Al.

[Odusko]

Well even though the story may be hard to believe we can't deny the fact that we have some lessons to learn from the whole situation, trading requires skills, and for anyone to be able to trade perfectly we need to have build trading skills within some time. You may face some losses at the early stage but then we must persist and learn along the way, once you can master the trading skills and haven't practiced it for some with steady profits after then you can start trading with a huge and last fund such as $400 you mentioned.

[JooBra]

Well even though the story may be hard to believe we can't deny the fact that we have some lessons to learn from the whole situation, trading requires skills, and for anyone to be able to trade perfectly we need to have build trading skills within some time. You may face some losses at the early stage but then we must persist and learn along the way, once you can master the trading skills and haven't practiced it for some with steady profits after then you can start trading with a huge and last fund such as $400 you mentioned.

From my experience best and fastest way to learn is playing with real money but with small amount. You remember better when you lose your own money.

[Bollexz1]

As long as your order remain open on BTC then there's tendency you'll still get your money back, you just got to wait a little longer. At least, yours is still better than someone who converted his 800$ worth of bitcoin for a mere NFT gaming that's now no where to be found.

[Bhig Daddy]

It so touching hearing this from a mom, I know u got desperated because you need to care for your son, but still you can't invest all you have in crypto, you should know there are no guarantees when it comes to crypto. I have been in same situation when I need to pay for my school fees back in my school days, so never invest the money u can't afford to lose into crypto.

[JayTrain]

Everyone has ups and downs, the main thing is not to get upset, and it's better not to risk trading with the last money next time, most often it doesn't end well. It's hard to be a trader, or rather a successful trader, you need nerves of steel and experience.