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

[crwth]

I think it's pretty pointless discussing rational numbers with guys like that actually.

It all depends on the person for sure. So if the people don't manage to do their goal and just sit around and not do anything about it, it's not going to be as effective as it should be.

First, the post sounds completely fake, as you noticed. Second, the guy is probably not even using his real forum account, so that means he's not telling the truth or he'd be using his actual account. Who the hell loses that much money and doesn't have an account here already right?

He doesn't make sense, you are correct but I don't think there's an evident connection to him having another account or something. I don't really care though lol.

Anyway, Gunbot is just for automation. If your system doesn't work, Gunbot doesn't make it better

True. Better stick to the tried and tested strategies included.

[TopT3ns]

I have stop with future about one year ago and never try again with future trading, last time ever loss $2,000 on big fund and not remember when fund about $100 until $300 deposit for future trading, usually first time after fund deposit looks easy how to earn profit with future trading, but always first get little profit and second entry with future loss all my assets. Now only keep spot trading because how ever price drop we still have our coin although have lower price but still have our money without loss like on future trading, although giving much profit and faster with future not come back again for entry on future trading.

[Stanlo]

Newbies shouldn't try futures trading it's the riskiest trading strategy that ever existed , every newbies must start with spot trading instead of futures because spot trading has the lowest risk of all, greed is why a newbie will want to try out futures when they aren't even good with spot yet.

[DanWalker]

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.

Thank you for sharing, I hope people stay away from futures trading as far as possible. The biggest mistake in financial investment is not using borrowed money to invest. They not only bring risks to ourselves but also have consequences for our loved ones. It's even worse when we want to get rich quick by trading futures, to me it's like a game of chance. To be honest, I have not seen anyone win in futures trading whether a newbie or a experienced trader

[shinratensei_]

That's a good story of your life. lesson learned. The only advice for you is to trade on spot and that's the best place for you to try to train how to control your emotion. You are being so greedy and don't take the profit caused by you think that you can be a rich guy in a night and this is really wrong. You need to take any profit from the market as soon as you can get decent profit from there.
Try to learn from your mistake and i hope that you will have another chance to do that again. If you can't accept the risk to trade in the future and move to the spot

[traderethereum]

You forgot to write down one more important point: to close your trade, don't be greedy after seeing a big profit because you probably won't be able to see it again shortly.
You may forget to write down many things, but this becomes an important lesson for you not to do it again in the future.
By always learning and never giving up, all your losses will be replaced with profits even though you haven't been able to get big profits in a short time.
Never give up because you still don't know what the future holds and keep trying.

[sumant]

As a newbie you can not succed in future trading because of it's risk factors. There are leverage system to go with and i am sure newbies can not contol their mind to handle risks. If you want to predict price of coins then you should prefer spot trading first. Future trading is only for higher experienced traders who has spent times in market and have done some research. If we can predict in spot correctly every time then you can target future with low leverage.

[TopT3ns]

Many are attempted by futures trading because a small amount of capital can get big profits most contrast with spot trading, where we only earn small profit and waiting almost few days depending how coin reach up. But compared to the risks faced when playing with futures trading and you can loss all your money if not try to use stop loss or you not add fresh fund to make liquid far, but benefit with future trading now have waiting when bitcoin or altcoin pump to earn profit but also when market dump you can earn profit with use short position.

[Daodex]

Big lesson learnt here  futures trading is too dangerous for professional traders not to talk of newbies that know so less about trading, futures is a perfect example of gambling, the risk is too high honestly.

[justdimin]

You forgot to write down one more important point: to close your trade, don't be greedy after seeing a big profit because you probably won't be able to see it again shortly.
You may forget to write down many things, but this becomes an important lesson for you not to do it again in the future.
By always learning and never giving up, all your losses will be replaced with profits even though you haven't been able to get big profits in a short time.
Never give up because you still don't know what the future holds and keep trying.

That is one of the biggest things that people end up doing and that causes a lot of people to lose out. Back in the day that made a bit of sense if it was like a big big big increase. Like you opened a long when it was 10k and it became 20k+ and then you are still holding then it makes sense but right now?

It doesn't make sense since we are not in a huge bull run that makes it go up like that. At the end of the day, we are talking about something that is a bit more common and you should take your profit and run away with it. Just do it like most people do, have 1k in that turned into 10k?

Just take out 5k and then with the other 5k do it again, keep doing that if you keep winning, and if you lose then go back to 1k each, that means 9 more tries until you run out of money and go back to your initial 1k investment. How hard that could be?

[batang_bitcoin]

Big lesson learnt here  futures trading is too dangerous for professional traders not to talk of newbies that know so less about trading

It is dangerous even those that are good in trading and has been doing it for many years, they're also careful. Much better for the newbies to avoid it because it's not for them.

futures is a perfect example of gambling, the risk is too high honestly.

That's certainly is a gamble and they should put it on their minds that making money there is quick and losing money as well. High risk, high reward but it's more intense than the market's volatility.

[Taskford]

You are too eager to get big profits so you don't care about the opportunity to lose, I'm sure if you have more money you will do the same thing, but this is an important lesson for us that investing in cryptocurrencies does not guarantee big profits especially futures which are more risky bigger than coin hold.

This is actually the common mistakes of newbies which they always add up a huge amount after they win on their first trade and thinking for more huge profit if they put huge amount on their next trade we see scenario like this and its so scary to happen especially if we use our life savings upon trading. Maybe other should be careful on this and develop their trading plans before stepping up on the market.

[ivankoh]

This sharing is also a big part of making the loss mentality more and more heavy for new entrants.  Don't spend 100% of your investment at once if you can't figure out how to be profitable and plan to rotate your portfolio.  I have also suffered losses but not dumping my portfolio is not considered a failure.  If buy with only 10% and let the DCA sequel stay under control.  In long-term investing, the concept is clear that only if you are willing to lose this capital without any impact on your finances.  If stop loss means accepting a loss and you will continue that way.

[Gayong88]

A very interesting experience and I'm sure it happens a lot. everyone also knows that always use cold money the reason is simple Crypto price movements can go up and down very quickly every day, if I may suggest if you want to re-invest buy good fundamental crypto, diversify into several cryptos and hold long term, this way is much safer.

[Imran232]

I'm really sorry for your loss. And thank you so much for sharing your journey, experience, mistakes and all those things. However, I will always avoid future trades.But what I believe is that when we want to do future trade, we shouldn't take much risk, plus we shouldn't take risk with our all, we just go with that amount of risk that we can afford without any worry. After reading your story, your saddest thing is your greed. That is what turned you into a patientless person. What can't give you satisfaction with your accomplishments? That is why you lost everything. This means greed is equal to loss. Though what I learned from expert traders is that they always say to not go with everything you have in trading, go with that amount of what you don't need. Stay happy with what you gain, no matter how much it is. There you can't blame future trade. Here you are the main problem. If you were happy with your profit now, you would be in a good place. Your greed made you this. Though thanks to your suggestion, we actually got some lessons.

[EmmaGod]

It's quite unfortunate that people could lose a whole lot from futures. Most times I see posts of huge percentage gains on the futures and I wish I knew how to go about it. The truth is that there are many more people making loses who are not posting their loses. I've come to realise that it's best to avoid those things you don't have in depth understanding about because there could be hidden risks attached.

[Henrobakkara]

Big lesson learnt here  futures trading is too dangerous for professional traders not to talk of newbies that know so less about trading, futures is a perfect example of gambling, the risk is too high honestly.

Exactly, this is the same problem I believe is what is wrong with most newbie crypto traders because they still believe that crypto is a get-rich-quick avenue and they don't even try to do their due diligence, and even venturing into trading futures is highly risky. You can trade spot and still be safe as long as you don't sell even when the market is down but futures isn't the same thing.

[kentrolla]

I have mixed experience with futures i have lost it all when I was trading with higher leverages like 25x, 50x and 100x but I started recovering the loss when I had a plan in place wherein I will never use more than 3x leverage and only in invested into bitcoin and ETH wherein I will lose my money only if it goes down by over 33% which doesn't happen overnight unlike other coins. I think future is not for other it may ruin lives and make us go bankrupt, it's better to stay away from it or else use very lesser leverages.

[isaac_clarke22]

If you know that you're trading along with an unstable currency, never EVER make plans that immediately unless you're entirely sure with concrete mindset that you're going to be sitting in fortune soon. I wouldn't even blame your wife getting mad at you for that, unless she have a good paying job.
Never also borrow any amount that you will use for trading. It's way too risky. You're never even sure that you're able to pay that off.

[pokerowned]

i am in deep shit than you lol lost around 500 btc + at multiple prices

Good you brought this topic...

i had promised to wife not to trade on futures but kept trading n losing like hell...

I have finally made up my mind not to trade in futures in my life irrespective of any profit

Suggest everyone to trade in spot and be happy with what you earn !