Need help with trading

[TheUltraElite]

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.

You made 2x profit in a week? Sounds too good to be true for a person who is new to trading. Maybe you got lucky and that is where you have gone wrong. Luck will not help you with every trade.

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.

I would like you to first answer the question I asked above.

However if a certain coin has given you 2x profits, you should exit and sell, provided you are newbie who made their first big profit. You have no lost your funds if you are spot trading, I believe you are margin trading?

If so, please read more and learn about margin trading first before taking any chances in it. It is not for newbies and even veterans struggle in it, because it is a type of gambling only.
You should make amends to improve your trust rating.

[1715306917]

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[Ararbermas]

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.

use stop loss everytime you trade because it the most safer strategy when it comes trading.. Even you know how to use different indicators it's still useless especially if the market is so volatile.. So bear it always in your mind to protect your money.. Indeed through youtube you can get some specific information what are the proper ways how to execute it in the graph.

[Kong Hey Pakboy]

My assumption in your loss is that you got screwed over by some sort of a shitcoin that hypes up their prices and deceives other people so the people that created the coin or have a lot of stake in the coin gets a lot of money out of the other people who are late to the party. I don't think that this assumption of mine is original because I believe that others think that it's the case.

[CryptopreneurBrainboss]

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.

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.

[btc-facebook]

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.

When going to trade, you must know the capacity you have, such as knowledge and experience.
If you are a beginner with little experience and knowledge then don't take too big a risk, even at this position you are better off not trading and it is better to spend your time studying first before trading with money.
But if you really want to trade, then the way to minimize your risk is to trade on coins that have a large market cap and are ranked in the top 10 in CMC, the reason is because coins that have a large market cap are very small to manipulate and the price movement is not too volatile, so you can minimize the losses that will occur when you predict the market wrong, but of course trade management will be your next key.

[carrigan]

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.

Future trading does have a higher risk compared to spot trading.
I am also a beginner, here, fund management and risk are very important.
Usually, I only use no more than 5% (often only around 2-3%) when it will install a margin in future trading.
So when the funds are also lost, it will not lose too much.
In addition to the management, we can also see in the time frame (different traders' different strategies, can be by looking at TF 4 hours, 1 hour or minutes). This is to see the increase chart and decline.
Plus I usually see the lowest and highest prices before. Then, check indicators in more detail, this might be difficult especially for beginners, I also feel that way, but it's okay if you want to learn more.
Well following the news that can support DFundamentals also need to or there is FUD at that time. This can also influence.

Note :
Different people have different strategies, so wear the most right for you.

[Reid]

Why the sudden switch? You are already making some profits on the first, you should've continued it and make the most out of it first.
When you do, that's when you try to switch with a capital higher than your first entry.
I bet you tried the high-risk, high-profit motto which is not how it really works.
All you could do now is try to recover it without forcing your way. Go back to where you started make some profits there and try to achieve ROI or better profits again.

[maxreish]

Losing is part of the trading. That doesnt mean you'll gonna give up on it. Good thing you are eager to learn and decided to continue. Learn more abouy technical analysis where it teaches you when to buy or sell your coin. The indicators will helps you a lot to spot a good entry point.

Also, if you'll have a good plan like setting stop losd and what % profit will you set, your trading will have a good success rate.

[Silberman]

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.

Well just by what you are telling us I see many problems, the fact that you invested in a coin that gave you 2x within a week and then you invested in another coin and you lost almost everything is telling me you are taking huge risks when you are investing, you need to take it slow, get out of the markets for a few months before you make even a bigger mistake and use that time to learn more about the markets and only once you have learned more then you need to select coins like bitcoin and ethereum, and only invest in those two coins until you can prove to yourself that you can be profitable with them.

[kawetsriyanto]

Even a professional trader may also experience losses in trading. Trading is risky, that is why we must be ready for the risks. However, although we are ready, we must also struggle to minimize risks themselves.
Yep, sometimes, people have different ways to trade. People may also have certain cryptos that are favorite to trade because of having to know the coin cycle, chart, and also movement. Sometimes, people will also trade based on the fundamentals news at that time. or, it will also be based on the time frame analysis of each coin itself. I personally will prefer to trade coins that I really know, not willing to try other coins before analyzing them based on the chart and also cycle.

[Xinarae*]

There will be risks in trading it is easier to succeed if you can go ahead with the risks with technology you can learn and practice the truth and something. If you need to learn how to copy creative advertising you can take classes online and the purpose can be achieved this is very beneficial for your business when you start out it is highly possible that you will be low on your budget and cannot afford highly professional people for business and planning. So if you know some strategies for yourself it becomes easier with the initial progress and later when the financial improvement.

[checkmatesir]

I had prefer you a way which is very important in trading, which is patience. Without patience you can't do anything in trading and after all i will prefer you to buy short term coins first and analyze them hardly because analyzing the token is also a part of trading. Short term tokens will give you a profit and then you can be ready for the long term.

[MIner1448]

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.

[Hobo66]

I will advise you that 2x in a week may be luck game. Please don't day trade without full Knowledge unless you know what you're doing and having a decent amount to invest in. It's also mentally draining day trading as you'll constantly check and be worried and probably end up losing money. Stick with staking if you're new and maybe trade with 10% of your portfolio.

[iv4n]

It's why my pairs are with stable coin, BTC/USDT, TRX/USDT... and I try to not move from my pairs, it's what I follow, I know what I can expect...
In the beginning, I made many mistakes like OP now... I make a profit with some pair, and I move all that money to some "potential" coin/token and I get busted! I don't do that anymore and if I invest in some new project it's for the long term! Simply, too many pump and dump schemes happen with them, so it's more like gambling than trading.

[LimLims]

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.

The first and basic advice will be don’t invest, all in.
Rather what you can do is split your funds in multiple assets so that you don’t lose all.
Secondly before choosing the right coin, do some research whether to invest in it or not.
At last when you get small profits of your base investment, do cash out.
If you greed for more profit, then ultimately you will face loss only.

[RokokGudangGaram]

May I ask what strategy are you using? are you using indicators? are you taking consider looking at the market cap of that certain coin? are you only investing to new coins? I think you should give us more information on how you trade, also try taking consider adding this to your trade. It depends on your strategy what kind of indicator you are going to use.

[slaman29]

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.

I'd like to echo in on this. Brainboss is right. What went wrong is you got lucky, but you failed to recognize that and thought you were actually pretty good at trading. Common mistake most "traders" made when they decided to get in on the business. Crypto speculators in 2017 and in 2020/21 would have made easy killings on most coins and new defi hype shitcoins. Why? Because you can do 2x in crypto easily during a bull run.

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.

[danherbias07]

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.

I'd like to echo in on this. Brainboss is right. What went wrong is you got lucky, but you failed to recognize that and thought you were actually pretty good at trading. Common mistake most "traders" made when they decided to get in on the business. Crypto speculators in 2017 and in 2020/21 would have made easy killings on most coins and new defi hype shitcoins. Why? Because you can do 2x in crypto easily during a bull run.

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.

[Tessnik]

I did not use any known strategy all I did for the first week is take advantage of the volatility of the market by buying low and selling high; I guess I got overexcited by my first week profits I thought I could use the same method with the other coin which look more volatile.