Need help with trading

[justdimin]

Over confidence that's what went wrong. You did so well in the other trade that you felt like a professional and decided to take more risk for higher returns which backfired. You only picked that coins because of its price that's what I understood from your words. Glad you understand you made a mistake and now seeking solutions, that's a great step as many don't realized this until it's late. I'll advice you go back to the drawing board to see what went wrong.

After profiting from your previous trades, did you keep back some funds or reinvested everything into the other trade that didn't go as planned? Did you increase your risk without considering that the trades mightn't favor you as we just found out. These are the things you need to pay attention to. Greed kills many potential professional traders before the achieve their full potential.

You have to watch your emotions before entering a trade, don't get too over excited form your previous trades and do understand that a past success doesn't guarantee the future success. Also do understand that the market hasn't been favourable for the past week so something it might not be you but just situation you can't control.

Some people see it like gambling it all-in constantly, and yes that is the maximum way you could profit, there is no other way that could yield more profit then that if you are right that is true, but that is also the most optimized way to lose money at maximum rate as well.

Getting over confidence is not an issue, not realizing how to trade is the issue, you could still divide your portfolio and spend only 5-10% to just one trade but then have the confidence that it will make you profit, because you picked it and you are awesome! that is over confidence, but if you fail and lose money then you will lose only 5-10% and that is fine for everyone.

It means it is usually about not studying and learning more before starting to trade, even if you end up earning first, you will end up losing later on, it is just too obvious that people end up losing money constantly because they never study trading.

[el kaka22]

My biggest advice has always been leave your emotions out the door and become a robot in this work. However that is already said a million times so I am not going to repeated that. Studying about trading for months and months is a good advice as well but once again that has been said a million times too.

If you are not doing these two then you will lose, there is nothing more important than these two things and if you could become someone who is super wise about how to trade and leave your emotions out the door when you start trading then you can make a lot of profit. However lets go for the third one which is a little bit less important but still matters a bit ; do not listen to others when you are trading. If you did the first two then you already know about this of course, but I just wanted to add that if someone tells you about a coin then do not buy it just because you trust the person neither.

[Shenzou]

The best advice i can give you is to learn from your own experiences, look back at the token that made 2 times the profit reflect on the decision hat you made compare them to what you did right than and what you did wrong when trading the new one, when it comes to trading you have to really on your onw ways and your own strategies, but always keep in mind that you won't always win you are going to take some losses since the market is unpredictable, and trading is all about managing your profit and your losses.

[slaman29]

The true test is to consistently make money in any market condition. Which is what most people can't.

You're a trader if you can.

Beginners luck. OP, sorry I know that's a heartache if you got greedy after that. Which is mostly the case. You win, you think you are good at it and it happens to starters most of the time. It did happen to me too. Thankfully, I am the kind of trader that easily gets happy with a little profit and I didn't put it back to any coin. I used the money as cash and savor it.  
What you can do is try to forget whatever you had loss and try to start all over again. Just use what you experienced as a learning point and avoid whatever emotion you felt that time.

Or, remember what you lost and take the lesson that tells you: hello sir, you're NOT a trader. So please don't make this your life and take away all the joy of actually holding, using and Dollar Cost Averaging your stash:)

Seriously, OP, stop trading, you're clearly not built for it and there's no shame in that because very, very few of us are.

[Cherylstar86]

The best advice i can give you is to learn from your own experiences, look back at the token that made 2 times the profit reflect on the decision hat you made compare them to what you did right than and what you did wrong when trading the new one, when it comes to trading you have to really on your onw ways and your own strategies, but always keep in mind that you won't always win you are going to take some losses since the market is unpredictable, and trading is all about managing your profit and your losses.

Absolutely, You can learn all of those things from your own experiences. Honestly, sometimes we totally made mistakes but it help us think in a mature way. Maybe we can make those mistakes as our inspiration for us to learn more and earn good profit. Traders need to have enough patience of the things they enter especially here in crypto world. They must always have their own strategies and especially they must need also to be updated. Trading is not always win or earn, sometimes you also need to experience those things that might get you upset before you can get an idea on what to do.

[isaac_clarke22]

~

Thing is emotions are almost part of every actions we made. It is almost like that known third law of Newton.
Only the best thing to do is just decide the opposite of how your reaction wants you to react. It might seem generic to say, but to put it bluntly, I day traded before and somehow in day 3 I managed to just stop panicking especially when I sell even if the market wants me to sell immediately.

[Silberman]

If you had success in trading one token and you applied a certain strategy, then I see no reason to change it, if you managed to make a profit, then stick to your strategy and do not change it, why did you need to switch to another coin if you received x2 ... The strategy must be changed in case of unsuccessful attempts, but on the contrary, you managed to double your deposit, albeit a small one.

He said that he lost almost all his funds applying the same strategy that he applied for the first coin, it is clear that his strategy is wrong as for the most part he is relying on his luck to produce positive results and it is taking huge risks in the process, almost no trader can survive any market with that kind of strategy and when we add that we are in one of the most volatile markets around the world then this becomes even worse, so what the OP needs to do is to change his strategy otherwise this is going to keep happening over and over again.

[michellee]

Now I have realized my mistakes, firstly I did not lose my funds because of my strategy. As a matter of fact my strategy was right but I got carried away by my emotions, I paid more attention to the profits rather than proper market analysis, am gradually recovery now as the market picks again. This weekend is going to be amazing trading day with bitcoin gaining momentum toward $45k price.

I am glad you can analyze the mistake and realize that it is not because the strategy is wrong but because you lose control of emotion and make you in a rush. Hopefully, you can get the point from your mistake to fix and continue trading and recover the losses. I am sure that will improve yourself in controlling yourself and it could also improve your skills because you now become calm down and can reduce the emotion in trading. Yes, all of us are waiting for bitcoin to gain momentum toward $45k and it will happen sooner or later.

[boyptc]

The true test is to consistently make money in any market condition. Which is what most people can't.

You're a trader if you can.

True.

Not everyone can make money in any market situation. Mostly are aggressive during the bullish run and makes the best out of it.

But when it is bearish, it is the hardest time to make because you are mostly buying and won't be selling.

[killerman2]

If you are good at trading and you got some profit after all, then you should keep some profit at least 50-60% for the big coins like bitcoin etherium etc for which you can earn a lot and that money will be save for you.

[decodx]

This weekend is going to be amazing trading day with bitcoin gaining momentum toward $45k price.

Yeah. What makes me happy is that my profit has not diminished and I have realized that the market is still going to bounce back. My only advice is do not get carried away by emotions, It's ok to trade a bullish momentum but don't be a trader that is over eager to trade, be prepared to lose money at times.

[CryptopreneurBrainboss]

Now I have realized my mistakes, firstly I did not lose my funds because of my strategy. As a matter of fact my strategy was right but I got carried away by my emotions, I paid more attention to the profits rather than proper market analysis, am gradually recovery now as the market picks again. This weekend is going to be amazing trading day with bitcoin gaining momentum toward $45k price.

Glad you have realized this mistakes, don't beat yourself up these things happen. Even the professional sometimes get emotional. It's common but what makes you stand out above the noobs just coming in the the space is the ability to recognize your mistakes and learn form it and better yourself. We're all humans and sometimes we can just lose it. A slight miscalculation could make your emotions take control of your decision making but you have to be very vigilant as such event something ends new traders journey.

Just imagine if the funds lost was a huge sum that it'll take you sometime or never to recover. Imagine the market didn't recover this fast and kept falling like in 2018. Many traders experiencing this and it discourage them for further trades. The reason been that they invested more than they're willing to lose which is the main reason many people lose it when they get one trade wrong. Your case was different and it helped you.

[Kez1817]

My advice, in doing trade always be careful and always think twice or more before making decisions like buying other coin even you earn profit already from the the first coin you choose to trade. Trading is very risky and always need knowledge and understanding the market graph and price movement. Also, learn from your mistake and experience and from there think a possible strategy that you can be use in trading to gain profit and avoid loses.

[Yatsan]

Thorough observation and background check prior to investment must be done to ensure how things are going so that you can act right depending on the situation. It does not always mean that a coin starting with a good price will last to be a good one so must not put your guard down on monitoring into such coin because in this market that is highly volatile, things can happen unexpectedly. Also, it might be a great help to use trading tools like indicators and bots to help you out that maybe suitable for you as a help in your trading journey.

[awik p]

My advice, in doing trade always be careful and always think twice or more before making decisions like buying other coin even you earn profit already from the the first coin you choose to trade. Trading is very risky and always need knowledge and understanding the market graph and price movement. Also, learn from your mistake and experience and from there think a possible strategy that you can be use in trading to gain profit and avoid loses.

one more thing that needs to be prepared is trading psychology. even though we have studied technical analysis, then money management, I think without a good trading psychology, it will make our trading chaotic. In fact, there are those who describe that psychology has the biggest role for success in trading, so we must first understand the understanding of trading in theory and then continue with practice

[Kittygalore]

I think what went wrong is that you were trying a new coin that might've been a pump and dump project of someone that wants to earn a quick buck, you could've made money out of it if it wasn't a token that anyone have heard. And try to stick on the known coins because you can't be wrong doing investing in those coins especially with bitcoin.

[monineklutak]

I think what went wrong is that you were trying a new coin that might've been a pump and dump project of someone that wants to earn a quick buck, you could've made money out of it if it wasn't a token that anyone have heard. And try to stick on the known coins because you can't be wrong doing investing in those coins especially with bitcoin.

That's why it's important to do research and analysis before investing or trading,
because by doing that at least we get more detailed information about the coin,
what is clear is that it is not easy to make a profit in investing and trading takes hard work

[travwill]

I believe you made your first deposit too early and started trading. Like any newbie, the first thing you need to do is understand the mechanics of the market and get used to losses.
But it is best to do this without losing your own money, it will be enough to start with a demo account, which you will take very seriously as real money. Over time, you will gain enough experience to make a good real money deposit.

[Cherylstar86]

The true test is to consistently make money in any market condition. Which is what most people can't.

You're a trader if you can.

True.

Not everyone can make money in any market situation. Mostly are aggressive during the bullish run and makes the best out of it.

But when it is bearish, it is the hardest time to make because you are mostly buying and won't be selling.

Indeed. No one will earn if there are lots of issues especially when there are negative situations that may cause prices to decrease. I suggest to all the traders that they must need to be careful and always think twice or more before making decisions, just like buying coins, you just need to make sure that you can gain even a small amount of profit when you trade. Trading is very risky and you need to have proper knowledge on it. Learn from your mistakes and always make your worst experiences as an inspiration to gain profit and avoid loses.

[topbitcoin]

hello community members, am new in trading and run into problems recently with trading where i almost lost all my funds. i started trading with a single token i have made x2 profits within a week when i decided to trade another coin which from my analysis the coin have great potential because of it price at that time and that was the beginning of my lost.
what went wrong and what strategy will you advice i adopt that will help me in my future trading that will give good profits and minimize lost.
your views are appreciated.

Maybe at first, if you tell us you almost lost all your funds it means in every trading you put all your money. Maybe that thing need to be changed first. If you get x2 profit, i think you can use only your profit to do trading again so you have back up when your prediction missed. Maybe that is first that you can do in future.