Success in futures trading after long wait.

[bettercrypto]

In the practice of futures trading, it is not recommended for beginners because it is the opposite of spot trading. It needs understanding and knowledge to earn here.

   Now with the activity you did there, there were some mistakes you did that made you lose at first, but I'm just wondering why you didn't use a stop loss, which I think is the reason why you lost when you started here based on the screenshot you showed. But in the end, you recovered. I'm just thankful that somehow you regained what you lost and somehow made a profit from it.

[monineklutak]

I joined the futures trading platform a few months ago. There I buy 50 SOL 6x. After I participated, a bad news hit the market. And the bad news is that FTX is bankrupt. Then there was a huge loss on my futures trading platform. I continued to liquidation there without giving up. At one point while adding liquidation my total balance became very high and liquidation also came down and loss went to high level. The bloody year 2022 ends and in 2023 the market is slowly pumping and all my losses are recovered and I see profit.

Congrats on that, but for me it's just luck because the market reverses and this won't always happen in your every trade, and this should serve as a warning to those who want to do futures trade that when you don't choose a stop loss it's like you're gambling and chasing luck to come and when you feel bored because you don't see changes, chances are you are already in a bigger loss.

Basically it will be difficult to make a profit in the current market conditions before the market reverses,
I think only luck can save from big losses and don't expect it to keep coming,
even so must still learn from it.

[Rigon]

From the two pictures you brandished here, PNL in the first picture is far higher than what we have in the second. What is $77 in profit compared to $509 in loss. Again, you didn't show us what your balance was in the first to enable anyone who is inquisitive know where you got liquidated, or you didn't? I doubt if you didn't on that trade. Anyway, this isn't to put you down but I would like to think that trading without a SL isn't the best way to go about it.

At the first stage when I started trading I took a trade with 300 dollars. Since then, the market is dumping, I add step by step liquidation. At point time my total balance was over $900 when adding liquidation. When the market goes up again I transfer from the dollar trading platform and add to the spot platform. Maybe that's why you can't find any similarity between my two pictures.

[jossiel]

In the practice of futures trading, it is not recommended for beginners because it is the opposite of spot trading. It needs understanding and knowledge to earn here.

But you'll see too many beginners are trying futures because they've been hearing a lot on how huge the profits can be. "Can be", yeah that's it and that's why they're trying.

In hope that they might make so much from it, they're taking the risk and understands that it's not an easy way to trade. There are also those that have been learning from it for which they increase the leverage with a minimal amount which they can afford to lose.

[ethereumhunter]

From the two pictures you brandished here, PNL in the first picture is far higher than what we have in the second. What is $77 in profit compared to $509 in loss. Again, you didn't show us what your balance was in the first to enable anyone who is inquisitive know where you got liquidated, or you didn't? I doubt if you didn't on that trade. Anyway, this isn't to put you down but I would like to think that trading without a SL isn't the best way to go about it.

At the first stage when I started trading I took a trade with 300 dollars. Since then, the market is dumping, I add step by step liquidation. At point time my total balance was over $900 when adding liquidation. When the market goes up again I transfer from the dollar trading platform and add to the spot platform. Maybe that's why you can't find any similarity between my two pictures.

Do you continue to trade even though the market is dumping? If so, this is accumulation to increase the amount you have to reduce your average purchase price and when the price has exceeded your average purchase price, you can see how much your profit is. For me, it's still trading even though it's not like buying and selling directly, like trading in general, because we buy when the price falls and wait for an opportunity to sell it at a high price. But whatever it is, you've managed to recover your losses.

[Jatiluhung]

I think in futures trading you have to determine what percentage of losses you can afford so you can set a stop loss in that area. Because futures trading does provide multiple benefits but also provides multiple risks of losses. I have studied it. and I did it when I first got to know crypto trading. But I realized that I was not worthy to be able to trade futures. because I am still not proficient in analyzing the crypto market. so in the end I just focus on long term investment. and occasional spot trading. But it seems that lately Future trading has become increasingly popular. because maybe people are interested because they can multiply the profits there.

[ScamViruS]

Same thing happened to me but you have to learn from previous mistakes and focus on improving your own skills. When you open any position, it is also important to use stop loss so that your account does not have to go negative as before due to unexpected market movements. Because I say from the experience of futures trading that it is easy to make profit here, but it is very difficult to hold that profit. Many times my profitable trades ended after liquidation!

So deploying effective defenses is very important in futures trading, I have learned this through many failures. Congratulations on recovering your losses.

[Questat]

...

   Now with the activity you did there, there were some mistakes you did that made you lose at first, but I'm just wondering why you didn't use a stop loss, which I think is the reason why you lost when you started here based on the screenshot you showed. But in the end, you recovered. I'm just thankful that somehow you regained what you lost and somehow made a profit from it.

I'd never see a mistake of what OP did, it actually happens when something bad happens in the market like the FTX issue which affects crypto prices. We're affected by it, no one had escaped. That could be a wrong move if he is too emotional and if he sells his Sol. But is really a strong holder, he carries positivity which able for him to wait until the recovery started. Many people can't do that but from what I see of OP, he has the trust of this project and yes, it is worth waiting and gaining back his money plus profit.

[justdimin]

I continued to liquidation there without giving up. At one point while adding liquidation my total balance became very high and liquidation also came down and loss went to high level. The bloody year 2022 ends and in 2023 the market is slowly pumping and all my losses are recovered and I see profit.

Please do not try to set wrong example by these things. The first mistake you have done was opting for futures trading, but high risk people do go for it and this is absolutely a personal preference still I do consider this as a newbie mistake in cryptotrading ecosystem. The second one is, keep waiting in futures trading; a highly contradicting and must be a blunder one considering its high risk level.

I'd never see a mistake of what OP did, it actually happens when something bad happens in the market like the FTX issue which affects crypto prices.

No, luck favoured hence got chances to escape; just imagine a situation about getting liquidated even after adding $2000 to avoid liquidation. So, early stoploss is always recommended and buying back when market recovering (after bottomed) might have got them better profits than this.

[virasisog]

...

   Now with the activity you did there, there were some mistakes you did that made you lose at first, but I'm just wondering why you didn't use a stop loss, which I think is the reason why you lost when you started here based on the screenshot you showed. But in the end, you recovered. I'm just thankful that somehow you regained what you lost and somehow made a profit from it.

I'd never see a mistake of what OP did, it actually happens when something bad happens in the market like the FTX issue which affects crypto prices. We're affected by it, no one had escaped. That could be a wrong move if he is too emotional and if he sells his Sol. But is really a strong holder, he carries positivity which able for him to wait until the recovery started. Many people can't do that but from what I see of OP, he has the trust of this project and yes, it is worth waiting and gaining back his money plus profit.

Using a stop loss should have saved his funds but it's a good thing that he managed to hold his SOL for a long time. Many Solana holders have sold their coins when the market dropped down because of the fear of losing everything but things come to those who have patience when it comes to holding.
It's just that Op has missed using a stop loss and it should be the best time for him to use one to avoid unexpected losses in the future. Futures would be too risky if we don't know how to use the right tools for them.

[tygeade]

Same thing happened to me but you have to learn from previous mistakes and focus on improving your own skills. When you open any position, it is also important to use stop loss so that your account does not have to go negative as before due to unexpected market movements. Because I say from the experience of futures trading that it is easy to make profit here, but it is very difficult to hold that profit. Many times my profitable trades ended after liquidation!

So deploying effective defenses is very important in futures trading, I have learned this through many failures. Congratulations on recovering your losses.

I do agree that if you put a stop loss that would be the best thing you could do to prevent losing all of your money. However, remember not to do very high leverages, if you do that then even stop loss can't stop you from losing all of your position. I believe that we should not be really doing anything that would make it a great profit for any of us, it should be something that is a bit lesser and lesser in risk and something bigger in the long term mentality.

Futures is a way to make money right now, and not a year later, but if you keep the same mindset in there, something that is going to be great for you in 10 years as well, that would be lowering the risk in both, they are the same.

[Issa56]

No stoploss? Be clear, you continued to "gamble" without giving up.

Do you mean he is gambling because he didn't make use of stop loss? I don't think stoploss is mandatory in trading. I don't frequently trade futures but I do that sometimes, whenever am trading futures I don't use stoploss and it those not mean am gambling, not everyone really like using stoploss, the only thing I do is that am always making use of low laverage and I always trying my possible best to be correct when doing my analysis. I always advice only newbies to make use of stoploss, but if you are a professional, I think stoploss is optional.

[ScamViruS]

Same thing happened to me but you have to learn from previous mistakes and focus on improving your own skills. When you open any position, it is also important to use stop loss so that your account does not have to go negative as before due to unexpected market movements. Because I say from the experience of futures trading that it is easy to make profit here, but it is very difficult to hold that profit. Many times my profitable trades ended after liquidation!

So deploying effective defenses is very important in futures trading, I have learned this through many failures. Congratulations on recovering your losses.

I do agree that if you put a stop loss that would be the best thing you could do to prevent losing all of your money. However, remember not to do very high leverages, if you do that then even stop loss can't stop you from losing all of your position. I believe that we should not be really doing anything that would make it a great profit for any of us, it should be something that is a bit lesser and lesser in risk and something bigger in the long term mentality.

Futures is a way to make money right now, and not a year later, but if you keep the same mindset in there, something that is going to be great for you in 10 years as well, that would be lowering the risk in both, they are the same.

High leverage certainly increases risk, in futures trading this high leverage is a tempting system that affects the trader emotionally. As a result, most traders end up washing out their accounts by trading with high leverage. The leverage OP is trading with is low compared to many other traders, but he may also see unexpected negative results in a suddenly volatile market. Quick profit making methods are always expected to have an extreme level of risk, so it is better to not be attracted to these and focus more on long-term and much safer methods.

[martyns]

In the practice of futures trading, it is not recommended for beginners because it is the opposite of spot trading. It needs understanding and knowledge to earn here.

   Now with the activity you did there, there were some mistakes you did that made you lose at first, but I'm just wondering why you didn't use a stop loss, which I think is the reason why you lost when you started here based on the screenshot you showed. But in the end, you recovered. I'm just thankful that somehow you regained what you lost and somehow made a profit from it.

Signals are highly recommendable for newbies who are not fully aware of the market, traders uses accurate signals to triggered profits in trading. Patience is the key factor required for one to earned profits in trading, moreover it's matter of time for TP to be triggered. Setting out leverage according to one's account size and profiting green long candlestick on charts is the ultimate target for newbies and experience traders in the market. Future trading is complex and not an easy job for newbies to understand how it operates. Newbies should take extremely cautious measures in preventing loss in trading positions.

[GigaBit]

I think in futures trading you have to determine what percentage of losses you can afford so you can set a stop loss in that area. Because futures trading does provide multiple benefits but also provides multiple risks of losses. I have studied it. and I did it when I first got to know crypto trading. But I realized that I was not worthy to be able to trade futures. because I am still not proficient in analyzing the crypto market. so in the end I just focus on long term investment. and occasional spot trading. But it seems that lately Future trading has become increasingly popular. because maybe people are interested because they can multiply the profits there.

Common traders are often curious about futures trading. Many may want to learn and many want to trade real trading. However, as the risk is quite high compared to general trading, a trader has to take the trade carefully. Those who are willing to take risks usually prefer this trading site. Many compare it to gambling but not actually. A trader can increase or decrease leverage to reduce and increase his risk. It totally depends on the trader. Here OP did not give up even after his loss so he was able to recover his loss but that may not be the case for everyone. Hence a trader should take part in futures trading after gaining adequate knowledge and experience.

[Johnyz]

It is important to be able to perceive success correctly. And then for some, success can be quite fast, and then a wave of failures, after which the trader can simply leave such a job.

There’s a certain level for success and with this, OP is able to recover the losses he incurred last year in just a month, so lucky to those who are still doing good in this market and not giving up despite of their losses and mistakes. There’s always an opportunity to rise here, once you manage and know what to do expect to recover the money you’ve lose in the past, just continue to improve your strategy and focus on what is working.

[AicecreaME]

Maybe I am a little off, but I don't think this is a success yet until you close the position. You are only looking at "unrealized" profit. What id you wake up tomorrow and slow is down to $5, way past your liquidation price. Will it still look like a success?

Please, put in some risk management too, it could have gone worse and all your big position might have all been wiped. I am not sure if you would talk about that big loss too here.

Otherwise, good luck in your trades, it's a learning process all throughout

I agree.

That's why I always say to myself "take profit when you're happy" because most of the time, greediness will just bring us more losses in the long run especially the technical analysis we made is for a certain timeframe only that is not applicable for a long hodl 'till you make profits on your trade. Always put a stop loss and take profit to gain profits even though it's small or big, it's still a profit after all rather than having nothing.

[Pandu Geddon]

It is important to be able to perceive success correctly. And then for some, success can be quite fast, and then a wave of failures, after which the trader can simply leave such a job.

There’s a certain level for success and with this, OP is able to recover the losses he incurred last year in just a month, so lucky to those who are still doing good in this market and not giving up despite of their losses and mistakes. There’s always an opportunity to rise here, once you manage and know what to do expect to recover the money you’ve lose in the past, just continue to improve your strategy and focus on what is working.

looks like the OP learned from his experience. it's good when he doesn't give up after losing a trade he takes. because indeed futures trading has its level of difficulty. and it seems the OP has found a solution to the difficulties experienced.
now it's just a matter of how the OP will develop the skills and experience he has. because market conditions will always move. and futures trading that looks very easy just guessing price movements. it's not that easy.

[tvplus006]

...The bloody year 2022 ends and in 2023 the market is slowly pumping and all my losses are recovered and I see profit.

It's very good that you're in profit again, but it would be better if you used a stop loss. Do not make such a mistake again, and if you intend to continue to hold your position, set a stop loss so as not to sit again for several months, in the hope that the price will return to your point of purchase.

[Bobrox]

It's very good that you're in profit again, but it would be better if you used a stop loss. Do not make such a mistake again, and if you intend to continue to hold your position, set a stop loss so as not to sit again for several months, in the hope that the price will return to your point of purchase.

Stop loss can minimize losses, especially when trading in futures has potential losing all fund after liquid notification and small fund back up recovery for margin fund.  Some trader not care about stop loss because they have enough margin fund and have far away from liquidation price, actually I agree using stop loss in future trading than become long term holding with funding fees each 8 hours in Binance and make our margin reduce every day.

I used stop loss not only with future trading but also spot trading always use stop loss behind 20% loss from my price investment, not bad loss small fund but have chance recovery and earn much profit later.