I lost +$ 20k in future, advice for newbies

[ardydyon]

Guys, if you are a newbie in the crypto world, don't ever play trading in futures.
even if you can give 30,50, 100 times the profit you will get but with the consequence all your money is lost.
Never play futures if you don't master the concept of trading.
It is not recommended to gamble in playing futures because you will have the potential to lose money.
if you are a newbie you should just play on the spot. relatively safer although it is possible you can experience losses but you still have assets
in crypto even if the price drops and you lose.
Again NEVER PLAY FUTURE IF YOU DON'T UNDERSTAND THE CONCEPT OF TRADING WELL!!!!

[Lordhermes]

Alot of Traders have lost money in trading, it is as a result of their greed, wanting to have more instead of closing their trade, and secondly their carelessness. When involving yourself in trading, you need to master some essential qualities as a trader or as an investor, like how to avoid greed in trading. Trader need to be able to eliminate a greed mindset, these negative thought won't allow you enjoy profits in the space, as a trader you won't be opportune to have peace of mind in trading. Carelessness is also as a result of recalcitrant behavior of the trader. A trader can refused to check his trade, or can sleep without setting his TA( Take Profit) and SL (Stop Loss). All these are some basis you need to know how a newbie coming up.

[CaVO32]

Guys, if you are a newbie in the crypto world, don't ever play trading in futures.
even if you can give 30,50, 100 times the profit you will get but with the consequence all your money is lost.
Never play futures if you don't master the concept of trading.
It is not recommended to gamble in playing futures because you will have the potential to lose money.
if you are a newbie you should just play on the spot. relatively safer although it is possible you can experience losses but you still have assets
in crypto even if the price drops and you lose.
Again NEVER PLAY FUTURE IF YOU DON'T UNDERSTAND THE CONCEPT OF TRADING WELL!!!!

I think this trading feature is where these exchanges are gaining a lot of profit. As I have read a lot of people getting liquidated by futures trading, you will ask, where will the money goes? Of course, it is in the trading platform itself. And I very well agree, if you are a newbie in trading, don't try futures. Better go for spot trading first. You can only explore futures if you already know what you are doing and know the high risks involve in this type of trading.

[Faisal2202]

Buddy may your soul get peace, and you are totally right, we should only invest that money in future which we can afford to lose, like if they all gone than their should be no effect of lossing money on our life, yeah i know there must be effects but not like yours. So i only trued to play safe for some time and now i totally left it and moved to spot trading,
If i have 1k$ like for savings than i could turn them into many on spot,
Thanks for your post

[livingfree]

Guys, if you are a newbie in the crypto world, don't ever play trading in futures.
even if you can give 30,50, 100 times the profit you will get but with the consequence all your money is lost.
Never play futures if you don't master the concept of trading.
It is not recommended to gamble in playing futures because you will have the potential to lose money.
if you are a newbie you should just play on the spot. relatively safer although it is possible you can experience losses but you still have assets
in crypto even if the price drops and you lose.
Again NEVER PLAY FUTURE IF YOU DON'T UNDERSTAND THE CONCEPT OF TRADING WELL!!!!

Futures is actually a gamble.

Newbies think that it's okay to gamble with it and do it even without proper knowledge and training. I know people that do futures and they're good, they do it with a lot of pairs because they know how to do it.

They're also good in risk management, so their technique is low risk and high reward since it's future. They're taking that advantage on their own strategies.

[tokyohd]

Thanks for the nice advice. In fact, I am new to the world of trading. As I know, futures trade is more risky. I don't like futures trading because It is directly related to gambling...
There is an ancient saying -
"Greed is sin and sin is death"

[Jocuserious]

How did you start trading as a newbie because you have to practice for years to start new trader. Did you know that a successful trader has to practice for a few decades then he becomes a bit skilled. So if you start a business without realizing it, you will suffer and you will lose your money as a reflection.

[BlackBaron]

Futures is actually a gamble.

Betting on futures is very risky as some traders newbie are not content to lev. 5x but they set higher for maximum profit, but unfortunately because market movements are unpredictable, it is possible to lose funds because there is no liquidity that can maintain margins. We must advise newbie traders to stop being greedy because futures will plunge into the loss zone and have a psychological effect on newbie traders.

[Mosharafhh]

There is always a mandatory rules dont invest which you i afford to loose and other most important thing without knowing much dont try to trade on future trade its always a high risk trading platform and insted you can choose spot trading because its reliable than futurw trade and its always low risk and also choose binance for trade its also perfect for you!

[TheClownSong]

Futures is actually a gamble.

for traders that didnt applied trading rules such as money management and trading plan , it is true as a gambling. no matter how much money in our balance it could loss only in second.

There is always a mandatory rules dont invest which you i afford to loose and other most important thing without knowing much dont try to trade on future trade its always a high risk trading platform and insted you can choose spot trading because its reliable than futurw trade and its always low risk and also choose binance for trade its also perfect for you!

future or spot have same technique to analisys, but before we are expert in spot better dont try in future because its very risky and easy to decrease our money.

[AnonBitCoiner]

Future is ofcourse very risky game and all user should escape future. One can make good profit in spot and staking with low risk. If you see dip the Staking rewards while buying during the dips and then as a bull market starts, begin moving to flexi save or spot and sell 10% of your holding every 10% you go up from the bottom.

If you leave your greed at the door this will make you insane profits, its also safe as a crash at any point will leave you with some cash ready to buy the dip. And repeat.

[NicNacCoin]

Hey guys.
First of all, i would like to thank all people here who are sharing informations and help other.

 Secondly, i want to share my bad experience in crypto using future.

Before Starting in crypto, i have traded forex in 2016, starting with a capital of $ 500,  i Lost it quickly then i have learned TA, after a few months, i came back and start again with $1k, Wich i turned into 5K in almost 15 days, but i Lost all again because I didn't respect rules and take more risk then i realized that forex isn't for me.

In the beginning of 2016 i started trading crypto but didn't know a lot of things about Blockchain, then lost again, because I didn't hold ( sold BTC and Ethereum at 2000, eth at 800 😂...

Since April 2021, when all people talk about crypto and when all is green 🍏 i started again in crypto but I didn't have  a clear strategy because i have trading using the money that i barrow from the bank Wich i had to use to buy our house with my wife, then i Start to take money from the bank, 3k a week, then i traded spot but as i wanted to make profit quickly but that was the wrong...
Then i started trading future and after turning 5k into 11k I didn't take profit coz i was greedy lol
After I lost all the money i have Wich is +20 k, i was living in hard situation coz i didn't buy the house i had planned with my wife to buy and she was angry as she didn't understand all this, she think it's only like casino...
Now I'm paying the bank every month the money i have borrowed from them until 7 years ...

It was a good lesson for me that I won't never forget.

My advice for newbies :
PLEASE, DONT NEVER TRY FUTURE.
PLEASE, DONT NEVER USE THE MONEY THAT YOU NEED FOR YOUR LIVING.
PLEASE, DON'T NEVER TAKE The MONEY FROM THE BANK AND TARDE WITH IT.

At the end, i apologize if that's long, but i would just like to share this and i hope newbies like me take lesson from this.
 Thank you guys.

In fact, it is very difficult to say what happens in cryptocurrency. There are many people who have spent their entire lives in cryptocurrency and have done nothing for their own lives.Again, there are many people who have taken a lot of money from this cryptocurrency. I would say that if we have to work in cryptocurrency then of course we will convert our money as soon as we get it.I will not think about what will happen next. Cryptocurrencies have lost almost everything. I also lost but regretted myself.Now let's go with the target. As soon as I reach a certain target I convert all my coins into my money.

[wheelz1200]

The best advise for people "stay away from futures" is great advise.  So little amount of people win on these bets.  Crypto is too volatile and it's a 24/7 market.  Things can change while you sleep and get margin called before you even wake up.  Stack sats, hold and enjoy the ride is the way to go. 

[Ezravdb]

There is always a mandatory rules dont invest which you i afford to loose and other most important thing without knowing much dont try to trade on future trade its always a high risk trading platform and insted you can choose spot trading because its reliable than futurw trade and its always low risk and also choose binance for trade its also perfect for you!

I think the advice you have given is very suitable for everyone to consider because basically every decision must be based on the knowledge and direction of those who are experienced or from those who have tried it, because the Binance exchange now has a lot of features.
And obviously it is very helpful for every user who wants to trade there.

[JayTrain]

Unfortunately, there are quite a few such stories, thanks to the author's frankness, futures are not for beginners, that's for sure, the worst thing is when a newcomer by a lucky chance makes several successful transactions on futures and gets into the taste, then the market usually eats such people, just think a few times, try on spot trading, if it fails to make certain conclusions.

[SistaFista]

Thats why it is very important to know when we should buy or sell our coin and not being too greedy.
Target to take profit should be defined to getting real profit in the future, as well target to stop the loss.
With that strategy, our loss shouldn't too much and our profit should more certain.

[Cling18]

Unfortunately, there are quite a few such stories, thanks to the author's frankness, futures are not for beginners, that's for sure, the worst thing is when a newcomer by a lucky chance makes several successful transactions on futures and gets into the taste, then the market usually eats such people, just think a few times, try on spot trading, if it fails to make certain conclusions.

Lucky are the beginners who could read testimonies like this because when I was a newbie in crypto, I didn't know the risk of future for beginners. I also lost huge funds on it which caused me confusion at first but later on taught me a lesson to study about how futures trading works. I failed and it was too late for me to realize that it wasn't for me. That was a terrifying experience but at least I've learned from it.

[Google+]

Thats why it is very important to know when we should buy or sell our coin and not being too greedy.
Target to take profit should be defined to getting real profit in the future, as well target to stop the loss.
With that strategy, our loss shouldn't too much and our profit should more certain.

What you say is very precise so it is very necessary to implement it because stopping losses is very important for now and getting definite results is everyone's goal at this time so it is true as you say that targets for the future must be clear from now on.

[livingfree]

Futures is actually a gamble.

Betting on futures is very risky as some traders newbie are not content to lev. 5x but they set higher for maximum profit, but unfortunately because market movements are unpredictable, it is possible to lose funds because there is no liquidity that can maintain margins. We must advise newbie traders to stop being greedy because futures will plunge into the loss zone and have a psychological effect on newbie traders.

It's better for them to not get involved with futures if they're not yet educated about it.

That's the best choice that they can do and stay with the spot so that they can learn their way until they can take the pressure and risk that futures have.

There are advantages and disadvantages with it and it's all on you on how to make yourself be versed with it.

[magneto]

Hello guys,
First of all, i would like to thank all of u guys, i have read all your responses...

Anyway it was a big lesson for me but i won't give up and I'm planning to invest $350 every month in same good project and hold for long term this time.

Thank u again guys 🤗

I would suggest that this is not a great strategy either.

You should diversify and expand your reach as opposed to just DCAing into the same project regardless of what the fundamentals are. That is quite foolish.

Even if unlevered, pouring money like this into projects is never going to work out well. Yes, have a few blue chip projects that you consistently put money into, but also spread your risk out. I thought you'd have learnt through your futures failure.