16k DOLLARS LOSS IN JUST 1 YEAR

[JULIA2023]

i cannot leave trading but i can change the method for my trading.now i thinking if i should invest only in bitcoin then i could not lost a huge amount.i hope i will recover it in 2 to 3 years with a positive thinking and specially changing the trading method.

To be honest ... it sounds to me now like you want to lose significantly more money.
So what's your strategy that you're going to change? Maybe you could get some tips here before you put them into action.

Here as a general tip: Especially as a newcomer in the market, you should never invest real money but deal with paper trades for a long time. This way you learn a lot about yourself and your trading behavior, but you don't lose money if the trades don't go as planned.

Upto when I will do trade as paper trade..why shouldn't invest real money when I believe my self that I can do more things in the crypto filed.the best method now in trading I think only bitcoin but I seems to wait for a long time

[Crypto Library]

Upto when I will do trade as paper trade..why shouldn't invest real money when I believe my self that I can do more things in the crypto filed.the best method now in trading I think only bitcoin but I seems to wait for a long time

Buddy, nothing is good in excess. The reason for saying this, is to go overconfident is being many times face a lot of losses. A person I know is similar to your activities, he himself told me that he will gain profit by doing this trading, he does both future and spot trading with dollars buying from me. But in case of selecting coin he selects alternative coins in the hope of extra profit. Ultimately it appears that he has faced loss. Moreover, there is the issue of emotion control, so some of my friends faced about 18k and another 50k dollars in the Luna incident.
But if you can follow the strategy you are currently adopting correctly, after long term strategy you can gain a good profit. Here you must be patient and control your emotions. And of course by following a proper DCA method you can invest in Bitcoin for long term. Best of luck.

[Beparanf]

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.

Your statement is very vague due to the poor grammar but obviously you loss your money because you keep investing on tokens that is too volatile. You are also easy to jump on pumping tokens that gives you a huge lose since you purchased at top.

Use a long time frame next time when you view the chart and never purchase token that is just recently pump(few months or weeks) because this token will surely correct due to many early traders will take profit once resistance already hit and established. Purchased only Bitcoin if you don’t want problem. I’m sure you can quickly recover from this since you have high salary judging on how you can add capital every month until you come up with that lose within a year only.

[tvplus006]

There seems to be a problem with the way you handle yourself in what you are doing. You've admitted that you aren't experienced enough in trading, so how come you risk a large amount of money in it?...

As long as the OP words are not confirmed by screenshots, it is possible to question his losses in the amount of 16 thousand dollars. It is possible that such a thing really happened in his trade, but only with a smaller amount. Or the OP trading method is comparable to a casino, when all the money is put on a new coin with increased risk.

[dunfida]

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.

1. Invest or trade only on coins which had been that known or having that good liquidity or volume.
2. Spot is recommended for noobs and futures is just pure gambling
3. This is where analysis would kick in, if TA's shows that you are already on possible peak or already that getting left behind, then dont make yourself FOMO
4. There's no way on telling the peak and that what makes this market unpredictable in the first place.

Experience? We are all inevitably be able to experience the same stuff since all of us did really come on being a newbie on which these mistakes or errors are really that common.The bad thing
that you have done on here is that you had really that put or make use of huge amount of capital despite of being a noob which if you had just make out or use some
small amount of money just for some training up yourself then you wont really be that losing that big but since you have done the different thing then this is where things turns
out to be shit but well this is a lesson learned for you even though it is costly but its impossible that you havent learnt something from it.

[_BlackStar]

i cannot leave trading but i can change the method for my trading.now i thinking if i should invest only in bitcoin then i could not lost a huge amount.i hope i will recover it in 2 to 3 years with a positive thinking and specially changing the trading method.

Of course - you should not give up because you are losing, but improve the strategy.
I think that's the best advice for you so far - but stay away from greed even if you're really tempted by the same thing as before.

In general, day trading is tempting because of the profit potential - but in the long term day traders find it difficult to control their emotions and psychology because of market volatility. You need to stay away from futures trading anyway - it's only good if you understand the risks and also have a budget limit. Invest instead of trade - that's advice worth considering.

[kawetsriyanto]

It is a bit confusing, you traded crypto coins or you invested in crypto coins? 
They are not the same, you can't do both trading and investment with a single strategy. According to your story, I don't see certain strategies you applied on your trading/investment. You only did both of them with the same way.

Well, you said you have no teacher, which means you trade/invest from a self-taught learning. I'm just curious, how long you learned before you started that trading/investment journey? I suspect you too early decided trading/investing, you actually still didn't have sufficient knowledge.

You said, you also traded in future. I'm surprised you did future trade although you seem having not enough knowledge/experience. Although you have trade few months, I don't think you are ready for future trade. I bet most your losses come from the future trade, didn't it? 

[benalexis12]

You already know that crypto trading may be extremely rewarding for anyone that attempts it and has a thorough understanding of it. That is, anything we might possibly earn here will be predicated on the concept and having a thorough comprehension of it. There are several traders, particularly newcomers to this area. They make their money based on their projections.

If the only basis is a guess and there is no reason why that is their guess, they are not traders; rather, they are gamblers who rely solely on luck. This is frequently done by persons who lack sufficient trading skills, and others continue to do so.

[ancafe]

we cannot say that where is the fundamental levels of coins because you can take example from the DOT coin which was at the price of 55 in january 2021 now you can see the the price is 3 to 4 dollars.how can we know where is the dip level and where is the up level.all the movement of coins is according to bitcoin if bitcoin is up all the coin will go up if bitcoin is going down the coin will be down respectively

The reality that there lies the fundamental level of the coin and if they follow the movement of bitcoin then believe me in the next few years the price will fall much lower again and the worst case scenario may be faster as predicted. This is what is called the coin's fundamental level which is not strong enough to hold the price in the market. If you intend to hold coins other than Bitcoin, why not hold ETH, which has much more potential and has a large market capitalization value. Experience should teach you that there is no coin with much more potential than Bitcoin and choose large risks can result in unnecessary losses.

It is not a good idea to believe the hype because there are many coins that die faster than expected and is also influenced by hype which makes the price rise. Unless you intend to take risks and are able to see the opportunity to make a profit, the risk is still much greater and if you don't have good analytical skills it's best not to do it.

[michellee]

It seems @OP is trying to follow the hype in the market and not analyze the coin to find more information. That's the risk we get in trading if we don't learn much about trading. Many coins get a pump so people try to jump in and join in on the coin but it turns out the party is over and those people get losses.

Supposedly, with all his money, @OP could have chosen to invest in Bitcoin and not trade or invest in altcoins. That would be better. He also can analyze only a few coins to find the right one. And if he uses the DCA method, he can accumulate a lot of Bitcoin.

Hopefully, @OP can learn from his experience. He can try to find out how the coins he owns are through analysis. If each of the coins can increase, he needs to hold them and wait for them to increase. He needed to do that because if he sold it now, he would also lose money. So it's better to hold and wait for altcoins to have an altcoin season.

[redsun114]

Your first mistake was to think that you could conquer the market without knowledge and experience, you didn't bother learning about trading first and entered the market thinking that you know everything and it's very easy to get profit in this market, and you didn't even learn from your mistakes because you should have started learning after losing the first investment instead of investing again with limited knowledge.

Your second mistake was to FOMO and buy a coin or token that has already gained significant value and you still bought that token thinking that you will get some profits and exit the market as soon as possible, everyone with less knowledge and a greedy mindset think that way and eventually lose money. FOMO means Fear Of Missing Out, which means that you panic that you have missed out on profits and then you buy that asset quickly to enter the league of those who are profiting from it but you are actually late and the party is already over.

[Mauser]

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.

I don't fully understand your situation, you started with 1k USD and kept adding more money up to 6k USD. But how did you manage to lose 16k USD? Maybe you are counting from the ATH of prices and not from the money you invested? There is a big difference between realized and unrealized wins and losses. I wouldn't be comparing my actual wins against the highest possible winning if i had sold at the right time. The same goes for losses, it's not helpful to assume the optimal decision making after events occurred. There will always be better decision we could have made and thinking about them is only bringing us down. Also buying a coin that went from less than 1 USD to 11 or 14 USD seems like a bad trade. We should be buying coins that are cheap and before they become popular, otherwise there is no upside potential left to make money.

[HONDACD125]

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.

The first mistake you make is that you start trading without learning and gaining experience, which is definitely a disadvantage for any newbie. The most important mistake you made is when you bought a $0.92 coin at $11, because it went up almost 11 times and was sure to go back.Those who do not have a teacher, they do harm by making such mistakes .Trading is very difficult. You started with a very simple understanding, from which your seriousness can be estimated.

One should never invest in a single coin, but always diversify one's investment into different coins. The risks of loss in spot trading are always low, because when the price of a coin falls, there is no fear that your entire capital will be zero. Futures trading is very risky, there can be a huge profit and your capital can be zero. However, you need to learn a lot in the crypto currency market because it will be very difficult to trade when you don't fully understand the crypto market.

[carlfebz2]

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.

The first mistake you make is that you start trading without learning and gaining experience, which is definitely a disadvantage for any newbie. The most important mistake you made is when you bought a $0.92 coin at $11, because it went up almost 11 times and was sure to go back.Those who do not have a teacher, they do harm by making such mistakes .Trading is very difficult. You started with a very simple understanding, from which your seriousness can be estimated.

One should never invest in a single coin, but always diversify one's investment into different coins. The risks of loss in spot trading are always low, because when the price of a coin falls, there is no fear that your entire capital will be zero. Futures trading is very risky, there can be a huge profit and your capital can be zero. However, you need to learn a lot in the crypto currency market because it will be very difficult to trade when you don't fully understand the crypto market.

Come to think that trading for 1 year? It is really just that impossible that you arent really that learning on a specific period of time.Yes, 1 year might not really be enough but i would say that its impossible that you cant really be able to point out with those mistakes that you've been doing along the way. You wont really be that so dumb on not to notice with those errors and mistakes  that you have done with that specific period of time but instead you had tolerated out on being like that. Come to think that even on first month try then you would really be able to see whether you are doing something good or not basing up with your montly gain or losses.If you do find out to be negative then reassessing those trades back and look at on what wrong thing that you have done.

It is really just that there are really those people who are able to assess early and there are ones who do tolerate those losses until they would really be busting up everything.
There really just those people who are really that could be making out those reactions while its still early and there are ones who do stop on the time that
they had been wrecked out.

[GeorgeJohn]

How do you expect that you will make a profit in trading without having a teacher or a mentor, all this things is something we know quite well that come as result of some people backing up to trading, when they entered trading without having the skill.

It's very obvious that whosoever that enters into trading without understanding the protocols and procedures of trading should be done and well understood before joining trading, using a car drivers as illustrations, when you don't know how to drive a car and you have the pre-knowledged of how to drive a car, you move the car because of the ideas you have in driving a car, but you can't drive a highway journey, so when you insist to drive a high way their is every tendency that the car most collide

So when your knowledge is not sufficient in trading their is every tendency that if you use up 1000k to trade you might lose all before the months runs out, so it's better to learn and comprehend the strategic point of trading before joining trading otherwise or else you will lose your capitals.

[_BlackStar]

How do you expect that you will make a profit in trading without having a teacher or a mentor, all this things is something we know quite well that come as result of some people backing up to trading, when they entered trading without having the skill.

A trading teacher or mentor is certainly useful - but a trader doesn't need one if they have a desire to learn the basics of how the markets work self-taught.

So when your knowledge is not sufficient in trading their is every tendency that if you use up 1000k to trade you might lose all before the months runs out, so it's better to learn and comprehend the strategic point of trading before joining trading otherwise or else you will lose your capitals.

Sometimes the best teacher or mentor before you succeed is your own failure. That could be an expensive experience for the OP – but I hope she doesn't change her plans after this.

OP needs to change strategy to make a profit - but he needs to avoid intending to recover his losses quickly after this incident. He needs to learn and improve his understanding - but I'm very confident he could have avoided major losses had he chosen long-term investments instead of trading.

[jeraldskie11]

How do you expect that you will make a profit in trading without having a teacher or a mentor, all this things is something we know quite well that come as result of some people backing up to trading, when they entered trading without having the skill.

A trading teacher or mentor is certainly useful - but a trader doesn't need one if they have a desire to learn the basics of how the markets work self-taught.

It is possible that you can make a trading strategy even without a mentor but it takes a lot of time to do it and you may lose a lot before you become profitable. So for me, it is not advisable to join a mentorship. If you join mentorship, they will teach you not only trading strategy but also psychology which is very important in trading so that we know what we should watch out for before we trade.

[baenschi78]

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.

If you are experiencing a big loss, don't re-enter. Just admit your defeat and forgive yourself. If you come back in with bad psychology, believe me, you are gambling.

drill into yourself that TA is not 100 correct. A trader's victory is adhering to the trading plan. money management and trading psychology must be studied. patience is the key.
First analyze market conditions before analyzing technically. What are the issues today, and what monetary policies are being carried out by developed countries and others. then you do technical analysis. not technical first or even foremost. You can't fight the market.
If the market is in a bad condition, don't force it.

Don't be afraid to learn, because a pro has experienced many failures.

[wajik-tempe]

Trading without a mentor may be a steep learning curve, and although developing a strategy on your own is doable, it frequently comes at the expense of big losses. Mentorship may give vital insights not just into trading tactics but also into trading psychology, which is critical. Understanding the psychological components allows you to avoid emotional mistakes, manage impulsive actions, and make better informed decisions regarding market movements.

[Gaza13]

For points 1 and 3, 4 it is one unit, indeed everyone has different views in determining what coins to invest in, there is no problem investing in several coins other than BTC. If I had that much funds I would do it in just one coin, namely Bitcoin. Increases and decreases have become commonplace in the investment world, prices are very volatile. You need to remember that in investing, don't think about getting rich quickly or instantly. Everything needs a process, learn like rich people like M Saylor, they continue to accumulate their bitcoins. Regardless of the current price, he is sure that this asset will be bright in the future.

For point 2, if you have tried this over and over again, I really regret your actions, even someone who is skilled can lose too. Have you studied it before, if I were you I would never try it, the risks are very, very big.

Learn from your failures, this will make you survive in the following year, this failure is your best teacher.