16k DOLLARS LOSS IN JUST 1 YEAR

[JULIA2023]

I HAVE JUST EXPAIN TO YOU MY JOURNEY OF TRADING THAT HOW I HAD LOST THESE DOLLARS.
I have started the trading from BINANACE app and I invest 1 k dollar at the start from spot while I had no teacher
i was in trainee at that time one day was will profit the other day was my loss day every month I invested in binance app from my salary
after investing these money would finish in just 4 to 6 days after that I again wait for my salary.
At the end in invested 6 k dollar at one time but there was a coin which has up from 0.92 to 14 dollars I bought this coin in 11 dollars and
unfortunately this coin dip to 2 dollars and I was see my loss in just 10 minutes.
My trading method I just sharing with you tell me where I done a mistake
1: invest in one coin also multiple coin
2: trading was at spot also futures
3.coin was buy from dip they again more dip
4.coin was sell from top they again go up
Kindly share your experience that I m doing a loss you are also a part of my problem so that I want to khow where I done mistake.

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[Don Pedro Dinero]

<...> I want to khow where I done mistake.

Your mistake has been to believe the hype: that trading is a good way to make money, when the reality is that the percentage of retail investors who make money from it in the long run is very low, and the time and money invested to be one of the chosen few is often not worth it.

In my case I don't do day trading or short trading, I invest for the long term which is much more boring but a much safer way to make money.

[KingsDen]

My trading method I just sharing with you tell me where I done a mistake

You done a mistake by trading when you don't know how to trade. You earn good from your salary job. Set out like 10% to 20% of your salary to upgrade your trading skills so that you can make profits on the long run.

1: invest in one coin also multiple coin

It doesn't matter if you are investing on one coin or multiple coins, invest only on the coins you understand its movement.

2: trading was at spot also futures

It will be nice if you avoid futures. If you lose on spot, you might later enter in profits if you don't sell at lose.

3.coin was buy from dip they again more dip
4.coin was sell from top they again go up

This is why you should know your charts and only buy the bearest dip and also use your stop loss.

[Lakai01]

<...> I want to khow where I done mistake.

Your mistake has been to believe the hype: that trading is a good way to make money, when the reality is that the percentage of retail investors who make money from it in the long run is very low, and the time and money invested to be one of the chosen few is often not worth it.

Unfortunately, that's true. Especially for newcomers to the market, it sounds so simple: you buy an asset (e.g. BTC) and simply wait until it is worth more than the price at which you bought it.
In reality, you panic and try to save what can be saved as soon as the trade turns negative and you incur losses. Often these rescue attempts lead to the fact that you spend much more money than you actually intended and in the end, like the OP, you are left with a high loss.

Even successful traders are 49% wrong with their trades ... however, 51% of their trades are successful. Exactly this difference then decides about profit and loss of the trades.

A few hints for you OP:

• Trade only in markets you know. Analyze the market as good as you can and take advantage of news and trends (e.g. it was already known in advance that the SEC will not raise an objection because of Grayscale. The market turned significantly positive with the release of the news).
• Stick to your plan: Set limits and stick to them (both stop-loss and take-profit).
• and very important: don't follow signals or "successful" traders, you will definitely only lose money.

Being successful as a trader involves having a lot of experience. All of us had to pay a (often high) price to gain this experience.

[hugeblack]

These mistakes demonstrate the absence of a strategy, as a person can follow the same mistakes and achieve profits, and the only difference is the history of buying and selling, which may turn a gain into a loss by following the same method. Build your investment plan better. Always let your goal be to increase the amount of Bitcoin and dollars you have. Invest wisely and do not let greed chase you. Invest in the decision to buy more than to sell, meaning that you buy when the price is low, provided that you know that it will return to a normal level, and from there you achieve Profits, and stay away from emotional investment and feelings.

[mindrust]

Consider this an expensive life lesson. Nothing is a better teacher than experience. Now you (hopefully) exactly know how to avoid losing money with altcoins. If you do trades without doing your research again, you will lose money just like that again. If you want to make money, study some fundamental and technical analysis. Read some finance books and get some college education if you can. (Not a must though) If you start your business, that’s better than anything. If you can manage your own business successfully, you will know how to make money safely. If you are young don’t worry, there still many years ahead of you. In the long run $16k means nothing.

[hd49728]

I HAVE JUST EXPAIN TO YOU MY JOURNEY OF TRADING THAT HOW I HAD LOST THESE DOLLARS.
I have started the trading from BINANACE app and I invest 1 k dollar at the start from spot while I had no teacher
i was in trainee at that time one day was will profit the other day was my loss day every month I invested in binance app from my salary
after investing these money would finish in just 4 to 6 days after that I again wait for my salary.
At the end in invested 6 k dollar at one time but there was a coin which has up from 0.92 to 14 dollars I bought this coin in 11 dollars and
unfortunately this coin dip to 2 dollars and I was see my loss in just 10 minutes.

From 1k to 6k and 16k dollars is a lot. You are bravely to continue your losing habit from 1k to 16k without break time to think of mistakes and learn from your losses.

Your story is mixed between Investing and Trading. You did not invest in Binance App but invest in Bitcoin and altcoins through Binance exchange app.

My trading method I just sharing with you tell me where I done a mistake
1: invest in one coin also multiple coin

Invest in a single coin is different than invest in multiple coins. It's not the same.

If you change from invest in only Bitcoin to invest in multiple coins including altcoins, you are taking more risk with altcoins.

2: trading was at spot also futures

Best is don't Trade.

3.coin was buy from dip they again more dip
4.coin was sell from top they again go up

Best is don't trade or invest in altcoins.

[DVlog]

1: invest in one coin also multiple coin
2: trading was at spot also futures
3.coin was buy from dip they again more dip
4.coin was sell from top they again go up
Kindly share your experience that I m doing a loss you are also a part of my problem so that I want to khow where I done mistake.

That was your bad luck that you started from a bear market. This is a usual scenario in a bear market the price keeps crashing. Your first point is right that we should not put all our eggs in one basket. We should diversify our portfolio but this should be done in a sideways market. If your investment was only in bitcoin and if you really invested in a regular interval like you have said then your average would be much lower than bitcoin's ATH. This could have been a good investment even if your investment would have been 50% down because bitcoin is an asset and most of the altcoin is just securities 99% time if an altcoin performs well in a bull market then it doesn't in the next one.

[xzy887]

As you said you lost 16k dollars in 1 year. And then you come here to correct your mistake. I think it is a confiused word and an impossible story. Even if a person invests in Binance in a new state and loses the money invested in the first time, he will think a little bit about investing a second time. And then he will post it on a nearby person or here. But in your case it is completely opposite.Anyway, I don't know if what happened to you is true or false. If true then I would say you are too late to come here. When you're about to make the same mistake a second time, that time come here.

[Awaklara]

Kindly share your experience that I m doing a loss you are also a part of my problem so that I want to khow where I done mistake.

sorry for the loss you experienced.
First mistake, you clearly lack knowledge regarding investing, trading, or choosing assets. Actually, there is a lot you have to learn first before you just spend your money. it is an expensive experience that you have to pay for with your ignorance.
Your next mistake is choosing the wrong asset you want to invest in. I don't know how you choose assets, but when you follow an asset that makes a pump, obviously it is very risky when you buy it at the top.

If you want to focus on investing, then choose Bitcoin. If you want to trade, then try to understand spot trading first.
I hope you will never have an experience like that again. Once again this is a valuable lesson. you've already paid a heavy price for a bad start. but as you learn more, hopefully you will become a good trader or investor in the future.

[Bitcoin_Arena]

The biggest mistake is probably lack of risk management and a proper working trading strategy that suits you. Yes in trading you are bound to make loses from point to point, but what are you doing to avoid blowing up your account in case a trade does not go your way?

Also, FOMO, Greedy (trading with emotions) is very dangerous.  You are still relatively new in trading. Take your time to practice and learn. Use small amounts of funds to avoid losing money that you can not afford to lose. This can even affect your mental health.

[ajiz138]

You are more daring to deposit thousands of dollars for trading while you have no strategy about patterns, charts, analysis and other trends and you do not use risk management properly so that more losses than profits in addition you learn with large capital.

1: invest in one coin also multiple coin
2: trading was at spot also futures
3.coin was buy from dip they again more dip
4.coin was sell from top they again go up

There's nothing wrong with investing in coins if it's just Bitcoin you won't suffer any losses if you don't sell it.
Futures are more risky if you are not good at doing, spot trading is much safer although the loss will not be as big as in futures trading.
Maybe you are analyzing the wrong coin.
Same, you rush to sell and then after selling it goes up.

[yudi09]

Because you chose to trade in altcoins without consideration based on good knowledge about trading. Trading is risky and there is a very high risk of losing if you don't have a strategy.
You will not lose money if you buy bitcoin for the amount of money that you say is a loss and hold it as an investment rather than trading.

[rat03gopoh]

My trading method I just sharing with you tell me where I done a mistake
1: invest in one coin also multiple coin

You diversify into shitcoins, it obviously makes you more FOMO.

2: trading was at spot also futures

You also trade in futures but the basis of your decisions relies on feelings to open a position.

3.coin was buy from dip they again more dip
4.coin was sell from top they again go up

This relates to the first point. Buying on the dip and vice versa will be useless.

[bittraffic]

You invested at the wrong time 2022, is still the bear market year til 2023. And you invest in altcoins that have already pumped high which it could just be waiting for investors to jump in and then it's all dumped in you.

But you are not the only one who made this mistake. Many of us have done this before thinking the bear market will not really last for years. Along the way, you also learned the crypto market has cycles and the Halving is your cue.

[Nrcewker]

Your first mistake was you bought coins worth 1k usd, without having any prior knowledge in trading. If you don’t have knowledge, then it’s important to educate yourself on trading first. Hard work and time gives you real money. If you don’t respect that and invest it like this, then you won’t be able to earn it back. You should have first learnt about trading, learn technical analysis and then learn how to research about particular coins. When you done this, then do trading with demo balance. Once you feel confident then only go for real money. Hope you recover your losses very soon.

[Sim_card]

Trading isn't the best way to get profit and before you should trade, you are suppose to have learnt the fundamental mental analysis and technical analysis in trading so that you should know when to buy. You also didn't take your time to make research of which coin to buy and that was why you bought altcoin. Altcoins are used to scam people that is new into cryptocurrency and they don't have the knowledge that bitcoin is the only genuine cryptocurrency, or for greedy investors. Bitcoin is the only cryptocurrency that is worth investing in and don't ever think of trading but think of holding for a long time and how you can use to increase your bitcoin by accumulating through DCA.

[Bobrox]

May I know what trading kinds do you use until loss $16k and based on your story got loss without few minutes after trading, I don't think happen with spot trading exactly there are not any coins price drop drastically in few minutes. First your fatal mistake is trading with hype coins have up and down in short term, its good for earning faster profit but need to use stop loss feature when trading with coins have faster movement up and down. For the future less risk, use stop loss when trading in spot or future and you can reinvesting when have been in lower price.
You have wrong timing when investing assets, during with your investment Bitcoin and altcoin on higher price around 2022 before going dump drastically.

[Twentyonepaylots]

Consider this an expensive life lesson. Nothing is a better teacher than experience.

Unfortunately, this is a very expensive lesson to the OP. If I were on his shoes, it wouldn't cost me $16K to know that I am making a mistake in trading hence costing my salary monthly just to be a lesson.

Now you (hopefully) exactly know how to avoid losing money with altcoins. If you do trades without doing your research again, you will lose money just like that again. If you want to make money, study some fundamental and technical analysis. Read some finance books and get some college education if you can. (Not a must though) If you start your business, that’s better than anything. If you can manage your own business successfully, you will know how to make money safely. If you are young don’t worry, there still many years ahead of you. In the long run $16k means nothing.

@hugeblack is right, he lacks a strategy. For me $16K is a lot money, wish I could have that amount someday. I think what he is doing is that he is chasing his losses thinking he could revive his wallet in a day, but it turns out wrong. Keep in mind that trading is a waiting game and also a timing game, if you could have invested your time learning and researching about the coins you are investing if could have lessen your losses, or else you even make a profit out of it. Then wait for the perfect market, tho you can spot it but you can always have analysis and gain insight from the indicators.

[Alpha Marine]

A problem here is you do not know how to trade but went ahead to trade. In not saying professional traders don't lose money too, but it's obvious you didn't learn.
I'd advise you to take a step back and learn how to trade. It doesn't mean you won't trade while learning but try to have a certain amount that you use to trade.
This money should not be a huge sum, just a small sum that you can use to practice your trading.

It's safer to stick to one coin but we can't always play it safe. All you have to do is know and understand the coin you're dealing with.
Don't be enticed by the hype of different coins, a lot of other coins as just shit.