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

[Rengga Jati]

My advice for newbies :
PLEASE, DONT NEVER TRY FUTURE.

Indeed.
Don't try future trading if we are newbies, moreover if we exactly don't know about crypto yet fully or even don't know what future trading. Future trading is very risky for all people, moreover for beginners.
Sometimes, the only trust on free or VIP signals about trading in the future. But, note" never trust 100% to the signal because they are also predictions, they commonly shared the signal after they did it and the moment may have been left when you want to enter.
So, basically, do whatever you exactly understand. The best way may be trading on the spot exchange or even doing some holding only in the top coins (not the hype coins)

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.

This relates to:
Trade or invest only the amount that you can afford to loose
Only use free money to invest or trade
Loan for trading is very risky, never do it moreover if you are new.
Be wise and smart

[Wildwest]

In the world of crypto of course we have the risk of every investment, because predicting coins for the future is not necessarily the case as we expect, so in this case we have to study in detail every step we want to do especially and do not borrow money to make investments in the crypto world this is a big mistake that we do, Here we can make money by following the bounty project and from there we can invest, although later we experience losses but we do not spend real capital as happened to you.

[savetheFORUM]

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

You're supposed to be trading carefully and have developed a good strategy because your trading with a loaned money because you will scratch your head once you lose it but even if its our money, losing is still a hard thing to accept because we also work our way just to get that money and when it's gone, we need to work hard again to earn another.

You lost on crypto before because you didn't hold but your new session makes you lose because you sold late. I think what you need is moderation, I mean not too early and not too late. You can try it for one more time and if you still fail well maybe crypto is really not for you. Also some of your advises are seem not right IMO.

[TopT3ns]

I often hear stories like this, people lose cars and houses because they invest in cryptocurrencies because they hear about successful people, I think this is a big mistake, if you buy top coins and hold them for a long time then there is hope for big profits, but because you If you want big and short-term profits by investing in futures, we must be ready to accept this kind of risk.

I think a lot of them loss much on cryptocurrency because have wrong decision and choose which one altcoin have to buy, but have some investor loss every thing on cryptocurrency because investing on shit or meme coin and still have trader keep use future trading for investing. I see if still use spot and have potential coins for investing still have chance and not loss all in their life, looks nothing will gone car until house if try investing on spot only because their money keep safety just have lower value only, I think price will go up later but need to wait only until really have higher price later.

[LUCKMCFLY]

You have learnt a hard lesson OP. $20k + is definitely a huge amount to lose and it could bring a change in one's living for a short term.
You have definitely made some mistakes but it's good that you have realized it. Just keep in mind not to repeat those mistakes again.
If you learn trading and do it the right way may be you can recover your lost funds after some months.
Take profits along the way and use stop losses to limit your losses.

Well at least you lost $20k and no more than $500k, that was the case of two friends, in 2017 they started trading, and they were doing very well, because every altcoin they bet that meant that it rose uncontrollably, and they made a lot of BTC and Crypto that at that time was worth a lot, however they believed that the BTC would never go down in price, but on the contrary, that the bearish trend would begin or what we commonly call the Distribution stage, no matter how hard they were I warned them to sell, to leave everything in usdt or fiat, they did not pay attention, but instead invested everything in altcoins, and that was when everything fell apart, and they lost all that amount of money.

[ajochems]

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.

You made a useful trade in the forum.Because same happened to me in future trading of binance. I had lost over 2700$ in future trading. I had experience over all the trading from the beginning of forum. So I had started the Binance future trading with some good hope. But future trading had teach me a lot. Which is not in previous trade history. Huge loss in a trade. I had started with 1200$ and do continuous trade till it 2100$.After that I was gredy to get more. So I had made liquidity over 600$.But market crush eaten all my 2700$.This leads to huge loss for me.

[bitkanu]

That's a lot of money to be lost in the future trade. This trade is very risky trade caused by you can be shorted by the whale and the whales will make you lose your money. To be able to control your emotion is the most important thing right now. You have managed to get unrealized profit from your future trade but you didn't even take it. You have made a big mistake by using your loan to gamble it on the future trade and now you have no money to pay back your loan again. You need to work and then forget about what you have done in the past. You need to learn don't be greedy guy when you are trading in the future market.
If you get small profit from there and just take it as soon as possible and try to bring back your capital first and then use your profit to trade again.

[Vatimins]

     If it makes you feel better, just think about it as an expensive learning course about this industry. Futures alone really doesn't do that much harm for newbies. What really does them harm is low self discipline and greed. I bet you were over leveraging on your trades and get easily fomoed into most of the trades that you do. We've all been there. It's just that some people learn faster or slower than the others but what matters is that the learning is there. Never give up on trading. It is a tiring and a very tedious career to take but when you finally get the hang of it it will really change you into a better person and lead you to a life that is financially stable fulfilling.

     if your wife does not support you, then you're with the wrong woman, brother. Some women don't understand that changing a person to suit their wants is dumb and that anyone that gets easily swayed to give up on their dreams are not reliable partners and would guve up when things get rough in the long run. Anyway, good luck on your future endeavours, stick with what you believe in! I'm rooting for you!

[tvplus006]

...PLEASE, DONT NEVER TRY FUTURE...

Of course, you have the right to express your point of view about futures based on your own experience, but you have no right to recommend others not to use margin trading. If you are not a trader, but only hold coins, then it will be dangerous for you not only futures, but also spot trading.

[Rahman11]

The “take profit” strategy generally involves selling some fraction of your holdings each time the asset reaches a new all-time high. For example, a take profit strategy may be to sell 10% of your holdings every time the price exceeds your previous sell price by 10%. You can combine this with a buy back in strategy.

[babygun]

The “take profit” strategy generally involves selling some fraction of your holdings each time the asset reaches a new all-time high. For example, a take profit strategy may be to sell 10% of your holdings every time the price exceeds your previous sell price by 10%. You can combine this with a buy back in strategy.

That seems a simple strategy but you would really need to stick to that plan as I think greed will start kicking in when the price keeps rising and rising. Another strategy could be to sell 50% of your coins (or slightly more) when the price doubles in value. The rest of the coins, you can like see as free money.

[magneto]

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...

Without an actual strategy, this is essentially a casino.

Especially if you are playing with leverage. That stuff is extraordinarily dangerous for beginners to touch.

I wouldn't say that futures are always bad - you can do some very useful things with it, including hedging your positions or whatnot. But overwhelmingly people are misusing it as a tool to get rich quick, and that is definitely not going to happen. Markets are quite efficient and you never quite know what's going to happen next.

[Fivestar4everMVP]

Very valuable lesson to learn from this, but I wouldn't advice newbies or rather traders not to try futures trading, but rather, make sure you know what you are doing, don't go gambling or guessing the market's movement cus doing this is the beginning of failure.
And secondly, it's been adviced for ages never to borrow money from the bank to trade or invest in cryptocurrencies, it's highly risky, if you must borrow, make sure to borrow from family members or relatives who would understand the situation incase anything goes wrong.

Crypto is highly volitile and as such, it's high risk form of investment, this is why it's always adviced to never invest what you can't afford to loose.

@op, so sorry for your lose, and thanks for sharing, it's indeed a lesson for all to learn from, not just newbies, just as greed in the form of patience helps us make more money in crypto, it also can make one loose everything, we must learn how to get it under control, learn to know when patience have shifted to greed and know how to get it under control, this one of the ways one can survive and succeed in this space.

[pamsugas]

a big mistake if you risk all your assets to invest in crypto which must be understood for beginners that investing in crypto is full of risks so my advice if you are just starting out or want to benefit from crypto start with your extra money or money that not in use in the near future do not use the money from borrowed.

[Afgan84]

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 🤗

[Adbitco]

One thing very much important is that we must not borrow to start up crypto. It's advisable we used our spare money 💰 or money that is not in any pressure to pay back for online business. Most at times people thought that whatever concerns online turns to be gambling so I don't really disclose it to people in terms of trading and investment.

Well nevertheless, sorry for the bad experience please take heart and start afresh by buying currencies instead of future trading ect.

[Dr.Osh]

very interesting experience. that's why people always emphasize not to use money which is very important for our life, and not to be greedy. however, you have so many opportunities to make a sizable profit. however, I understand how we can become greedy when we get big profits. I've also felt that way until finally it brought us a big loss. besides, never make a decision just because someone else is benefiting from it. we need to prepare a strategy before starting, especially if it is a place full of risk. this is a very good lesson.

[VRExpress]

There is a question that I want to ask newbies out there, why try something you know too less about with real money? Futures trading is for the pro traders around the globe, even exchanges will warn you when you click on the futures trading tab, the risk is way higher than every other, followed by margin trading, its good to challenge your brain but with low capital that wont hurt you, why 20,000$ mate?, you can't be greedy on something you know too less about.

[fullhdpixel]

There is a question that I want to ask newbies out there, why try something you know too less about with real money? Futures trading is for the pro traders around the globe, even exchanges will warn you when you click on the futures trading tab, the risk is way higher than every other, followed by margin trading, its good to challenge your brain but with low capital that wont hurt you, why 20,000$ mate?, you can't be greedy on something you know too less about.

I am not a newbie but I have seen a lot of newbies and I can give you a few answers to this. One of the reasons is the fact that they think they will be different than others and they think they "know" what is going on inside.

Think of it like "rothschilds and soros families are ruling the world!! they have hidden secret prayers killing virgins!!!" and so forth type of mindset, it is conspiracy and they think that they are in the know when they find some influencer who they think carries information from inside. Reality is that they are clueless but they think they got hold off some information that will make them rich and that is the main reason why they are so confident when investing.

[Mpamaegbu]

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.

Well, your narration shows truly that you suffered great loss. However, I think you messed up a trading plan that fetched you profit because you got carried away too soon. If a plan made you money, you ought to have settled with it and mastered it for greater profitability. Again, you quit too quick after suffering just two defeats from the market. Trading (whether forex or crypto) isn't an easy thing. You should've stayed a while to revisit the grey area of your failure and then try again. There isn't any profitable trader who didn't suffer losses before mastering the art.

she think it's only like casino...

You won't blame her for thinking that way, anyway. You made trading look like gambling to her.