16k DOLLARS LOSS IN JUST 1 YEAR

[jasonjm]

This is not a wise strategy. Trading is not a piece of cake, and you have to learn technical and analytical skills beforehand to increase your chances of making a profit. Most retail investors are making the same mistake after their investment; if the price dips, they start panicking and sell their holdings. It is better to plan before investment and not invest in a shit coin as the chances of losing money are more in these coins. Only invest/ trade in well-known coins like BTC, ETH, etc. Once you have invested, try to hold for at least a few years, and do not go for a short-term profit or future trading.

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[Issa56]

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

Firstly, as a beginner who knows nothing about trading and is beginning to learn how to trade, why will you start trading with $1k? It's totally a wrong idea. You should start with a small amount. From your post, you said you had no teacher, so nobody to guide you. Then you should have just started with a small amount, you should have just deposited like $10–$50 and be using it to practice. Even professional traders do lose, if you're just starting and don't know anything about trading, you will lose almost everything you deposited to start with.

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.

You should have just taken a break when the loss was too much. You should have just stopped trading and done more research on why you were losing, then try to improve your strategy. If you know anyone to be a good trader, you can just seek help from the person to put you through.

From your post, it shows that you were trading altcoins, which is very risky. If you focused on bitcoin, I'm sure you wouldn't have lost that amount of money. You were looking for quick money, which is why you FOMO, a coin that pumped from $0.92 to $14, then dropped to $11, and just because of the little drop, you decided to jump into it. You should have known that coins like this are pump and dump coins, and since the coin has already pumped,  the next thing is for it to dump, and it was dumped on you.

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

Investing in one coin is not bad, but it should be bitcoin. You invested in an altcoin (pump and dump coin), and that was the first mistake you made.

2: trading was at spot also futures

As a beginner, you shouldn't even go close to future trading, you can lose all the money you are using to trade within a very short period of time.

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

You went to buy a coin from the top instead of from the bottom. Next time, you shouldn't buy a coin that has already been pumped, because people who pumped it will dump it on people like you who are beginners.

[knowngunman]

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.

Trading is actually a risky practice but we should not completely discard it just because it is risky. Trading is one aspect of crypto currency and should not be ignored. It's actually exciting and also profitable when you have what it takes to become a trader because it requires a lot of time to learn, energy and also focus. To majority of us who find it too risky will prefer to be careful with it while those who find it interesting and profitable will be excited to trade. So, I think it depends on individual preference and circumstances.

Altcoins are also part of crypto currency, though it is more riskier compare to bitcoin but when it comes to trading, altcoins are the best to trade if you have the experience. Bitcoin is very good and advisable for holding and not trading because it's not profitable like altcoins in term of trading.

[Mahanton]

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.

No its not if you are really that serious or having that sufficient time on researching things up, it might not that simple but its not something that hard yet everything could really searched on the internet on which means
that you wont really be needing that a mentor since everything could really be checked and would really be learned and the rest of learning would really be gained through real experience on which this is something
that a very normal phase or path to take. Just like the rest been saying that the only mistake on which OP did make is that he didnt make out any adjustments on the time that he do suffer losses on which it is really that impossible he wasnt been able to realize on what are the wrong things that he had done on several or couple of months. On the time that you would really be making mistakes then it would really be just normal
that you would be making adjustments.

1 year time is really that sufficient on making yourself that learn and find out on what are the wrong things that you have been doing. The amount had loss is really that
huge and it isnt something that not every trader could really afford on losing so and this is why it would really be that just wise that you should adapt
accordingly or making adjustments if needed.

[doomloop]

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.

You trade in the wrong coin and perhaps the confidence caused by the hype in trading is quite dangerous and we are unable to control when there is a decline in the coin. Even if you buy a coin when the price is down, if the coin does not have good fundamental levels or is only influenced by hype then it is not a good decision to get involved in it. I don't trade on the short term because I don't have any special skills, but I prefer to trade when I am truly prepared for all the possibilities that may occur. The mistake is that you don't understand trading but still insist on getting involved in it using a large budget at once and you should trade with a small budget first if you don't have the experience and skills.

The coin chosen must be able to be analyzed for its development because engaging in short-term trading is much more difficult than choosing long-term investments. If you don't have this ability, you should choose a coin that is much more fundamental for trading, so that you can avoid losses like the ones you felt at that time.

He didn't mentioned if what coin he used but maybe he lacked in patience and sell at a loss because he said the coin he picked dumps right after a dump. Coins like this are not always the shit coins but it can also happen to the good coins especially now that we are still in the bear season.

In trading, I think it is possible to control the coin when it's declining but as long as you didn't set a stop loss. Whether we are trading for short or long term, a special skill is still needed because trading is not easy. He didn't use large budget at once but he only start with 1k dollars. The amount was still huge for the most of us poor but maybe not really for him knowing that he is only a trainee that time.

[Inwestour]

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 just starting your trading journey, then you did not need to trade such large amounts. Obviously, at first you will make mistakes, but your mistakes are simply catastrophic, you decided to buy a token that showed an increase from $0.9 to $11, what did you expect in such a transaction? After such growth, it was obvious that the price would fall. In this case, all that remains is to become a holder with the hope that the price will someday rise again, but this can be waited for years and this still may not happen. But because you want to do trading, then waiting is not an option. Another huge mistake is trading without a stop loss, you could save most of your deposit if you used a stop, if you don't know what it is, you should look into it. If you still want to continue trading, then enter a small deposit and stay on it until you learn how to make a profit, you shouldn’t even think about depositing a large amount for trading, you will still lose it.

[cheezcarls]

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.

You mentioned about using your salary to invest in these certain coins, right? But you failed to mention how much percentage of the salary that you have put in to invest. Maybe you need to start learning how to manage your money well like only putting an amount that you can afford to lose.

Greed got the best of you. I know how it feels to lose such big amounts like that in trading especially if you are going all-in for that. Managing your risks is very important and you should always acknowledge the fact that the cryptocurrency market is unpredictable and it can go up or down in seconds without warning.

[tjtonmoy]

Your first mistake is you jump right into threading without learning anything. You thought you could learn it as you move forward, but trading does not work like that. Your plan would have worked if only you have spent less. You should have started with a low amount just for the experience and the knowledge. You need a deep understanding of the market before you can start trading. $1,000 is a huge amount for a beginner.

Second and most important thing that you have missed out on is you should only invest what you can afford to lose. You said you put a certain amount of your income into investment. But I don't think those amount were thing that you could afford to lose. If that was the case you wouldn't have regretted this.

As a newbie, I will always suggest trading with coins that are well reportable and has a great history. Although past performance does not determine future outcome but it is a good practice to go with those reputable coins. Altcoin market movement are mostly determined by hype/trend/sentiments. If you don't have understanding on that kind of thing then you should stay away from them. Also centralized coins should never be considered the first choice.

And lastly, you put a huge amount knowing you have made multiple losses in the past. The outcomes weren't good and yet you have decided to put that much money into trading. Never put all of your eggs in one basket.

So the summary of your mistakes is this. Not having enough knowledge, not investing what you can afford to lose, not choosing the right coin for trading, and putting a huge amount all in one go without any concern.
If you work on these mistakes, I think you can become a better trader in the future. Learn first, gain knowledge then apply that knowledge in order to gain experience. And with that experience you can gain more knowledge and the cycle continues.

[yhiaali3]

The first and biggest mistake is that you invest all your capital at once. This carries a huge risk and you have seen the results yourself through your huge loss.

It is always better to divide your capital into three parts: one part to buy the coin (it is preferable to buy more than one coin) at different price levels (not all at once), another part that you leave in dollars (to buy if the coin decreases more and more), and the last part Precaution: Do not use it except in cases of extreme necessity.

I am not saying that this strategy completely protects you from loss, but at least it reduces losses to a minimum.

[salad daging]

It is a pity that you are too aggressive to lose a lot of dollars, you also enter at once even though it is in the training period which can be said to be a beginner, maybe you are too careless and greedy if big capital can be big profits.

To be honest, I have experienced losses and this is the first experience for the first time when trying to trade, it is not unusual at the beginning we will experience losses but when you feel that you should at least be able to change the mindset of how trading does not continue to lose, of course skills are needed but sometimes it is still very difficult if you do not have a safe risk management.

Yup if you are not good at trading you will lose, but if you HODL bitcoin you will never lose if you don't sell it.

[Cookdata]

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.

Timing to take profit is another thing you need to learn if you aspire to be a trader. Sorry to say that crypto capture your attention during the bull run, if you borded tbe trading plane during the bear market, you will have learnt lot of lesson and master how to exit the market, and even though loss can't be negligible in crypto market, it will be fair, wouldn't top to that $16k

Another reason why you lost such amount is because while you were training, you were also risking, you don't trade with real money when you are still a newbie to trading, you should have use virtual money to test the waters and see if you are equip and ready to take the market bull by the horn but unfortunately, it ended badly.

I want to correct some points you highlighted in reference to one of the coin you bought at $0.9, went up to $15 and crash back again. In everything you do in trading altcoins, as soon as you make profits, sell them. There is no good thing in holding altcoins because the way they give quick profits is the same way they crash downward if investors were to sell.

Avoid futures if you don't understand trading fully, if altcoins dip and dip, be careful of how you buy them, some may never recover again. The next time you want to trade, ask questions also, it clear doubts in the minds like the way you are sharing now.

[Xampeuu]

In trading we must be able to place targets and stop losses logically, from which we monitor the market to implement the planned strategy. Indeed, in a very fluctuating market, accuracy and good intuition are needed in dealing with the market, so that we can determine whether we should make a cut loss or not. If we want to trade short term, I think using Bitcoin is enough, but if we want to invest long term , I think asset diversification is a better choice

[HONDACD125]

If we want to trade short term, I think using Bitcoin is enough, but if we want to invest long term , I think asset diversification is a better choice

I think Bitcoin is great for both short term and long term investment, because Bitcoin is the most reliable of all the crypto currency markets. I have been trading in different crypto currencies for a long time, but any crypto currency, even if it is the best crypto currency in the market, has a high risk of loss.

We often trade in crypto currencies that have high volatility so that we get a good profit, but often the same volatility becomes a big loss for us. My experience till date has taught me that whether long term investment or short term trading Bitcoin is the best. Where our assets are the most secure, even if their value falls, we do not worry about our assets.

[Arabic Salar]

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.

Frist of all you have to add some strategy in your trading.As many types of analysis are done in trading but by keeping in mind fundamental and technical analysis, We can avoid the risk  of trading.We should never make our investment in a single coin because  is the risk in trading. If we make our investment in a single coin, we cannot control the risk.

[yudi09]

... My experience till date has taught me that whether long term investment or short term trading Bitcoin is the best. Where our assets are the most secure, even if their value falls, we do not worry about our assets.

Where OP's mistake lies in not choosing Bitcoin. If I'm wrong about what the OP meant, I'd say that he didn't explain what coins he was losing money on.
Long term investments have more benefits than short term investments. I don't recommend people to trade on Bitcoin, but I rather recommend people to invest in Bitcoin.

Long-term investors can make any decision according to their wishes. But waiting until it reaches the highest price is a good decision for long-term holders. Different from those who choose short term.

[el kaka22]

To be perfectly honest it feels like this was just someone who didn't know how to trade and insisted on making the lost money back and consistently made even more mistakes.

If you end up buying something and it goes down, selling something and it keeps going up, those are indications that you are making a bad mistake and you do not know how to trade and you should not be spending money on it.

What can you do? Learn trading better, just google as simple as "learn how to trade crypto" and there will be a billion results, start from the top and learn from different places, also you can go to youtube and write the same thing and there will be another billion results there too, sort it based on highest viewed and start watching them too.

At some point, you will realize that you learned a lot of things that you did not know, it would be a lot cheaper lesson than losing 16k as well, they are mostly free and will give you a great return.

When you feel like you studied enough, start with something quite small, like for example 100 dollars, and see if you are making good decisions, even without that, just write down the price of something you wanted to buy, and then come back and see if it went up or not. Without learning, you are just risking your money based on your assumptions that's it.

[Lucius]

I have started the trading from BINANACE app and I invest 1 k dollar at the start from spot while I had no teacher

It is obvious that you have enough money if you are going to gamble with $1000 without even knowing what exactly you are going to do with that money. Without any knowledge, plan and strategy, that money was lost the moment it was sent.

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 --
unfortunately this coin dip to 2 dollars and I was see my loss in just 10 minutes.

When you trade with shitcoins, things like that happen, so even though a lot of money was lost completely pointlessly, did you learn something from all of that?

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 problem is that you are doing something that you obviously have no idea about, and the only thing you are successful in is constantly losing money. If I were you, I would delete that app and refrain from any similar investments until I learn some trading basics. Then I would start with very small amounts ($50 - $100) and try to learn something even if I still have losses.

In the end, you need to accept that crypto trading is not for everyone, and that statistics say that only about 5% of people are successful in it.

[Awaklara]

... My experience till date has taught me that whether long term investment or short term trading Bitcoin is the best. Where our assets are the most secure, even if their value falls, we do not worry about our assets.

Where OP's mistake lies in not choosing Bitcoin. If I'm wrong about what the OP meant, I'd say that he didn't explain what coins he was losing money on.
Long term investments have more benefits than short term investments. I don't recommend people to trade on Bitcoin, but I rather recommend people to invest in Bitcoin.

Long-term investors can make any decision according to their wishes. But waiting until it reaches the highest price is a good decision for long-term holders. Different from those who choose short term.

More beginners like Op, don't know much about how to trade with strategies or even if they want to invest long term, they still need direction in choosing assets and important warnings not to panic when in the short term something happens that is not in accordance with the investment plan.
but if within 1 year he loses his money in the trading process, he should have learned a lesson. When losses continue to be experienced, it means that there is something wrong with his understanding of trading.

Everyone's interests will be different. There are those who prefer long-term investments and there are also those who prefer trading. At least for a beginner who wants to start, he must have someone who can provide explanations and knowledge to him.

[Wakhid Mukti]

... My experience till date has taught me that whether long term investment or short term trading Bitcoin is the best. Where our assets are the most secure, even if their value falls, we do not worry about our assets.

Where OP's mistake lies in not choosing Bitcoin. If I'm wrong about what the OP meant, I'd say that he didn't explain what coins he was losing money on.
Long term investments have more benefits than short term investments. I don't recommend people to trade on Bitcoin, but I rather recommend people to invest in Bitcoin.

Long-term investors can make any decision according to their wishes. But waiting until it reaches the highest price is a good decision for long-term holders. Different from those who choose short term.

I'm also curious about how much of the $6000 the OP used for spot trading and how much of it was used for futures trading. If the OP buys coins on the spot and then the price of the coins decreases then the OP should have the control to sell them immediately, but if the price has fallen far, I have no other words other than hold and hope that the coins will rise again someday, that is if the coins are sold. buy a good OP and enter the top 50 market cap list. But I'm not so sure about shitcoins.

The Futures market is a cruel market if we trade without stop loss and take profit. No matter how much money we make, if we are too brave to use large margins and leverage, it will have a bad impact if our position is in the opposite direction to the market direction.

The best decision is investment compared to trading. OP also said that he had just started trading, so this was purely OP's mistake in choosing to place that much money in trading instead of investing.

[barisbilgili]

Where OP's mistake lies in not choosing Bitcoin. If I'm wrong about what the OP meant, I'd say that he didn't explain what coins he was losing money on.
Long term investments have more benefits than short term investments. I don't recommend people to trade on Bitcoin, but I rather recommend people to invest in Bitcoin.

Long-term investors can make any decision according to their wishes. But waiting until it reaches the highest price is a good decision for long-term holders. Different from those who choose short term.

More beginners like Op, don't know much about how to trade with strategies or even if they want to invest long term, they still need direction in choosing assets and important warnings not to panic when in the short term something happens that is not in accordance with the investment plan.
but if within 1 year he loses his money in the trading process, he should have learned a lesson. When losses continue to be experienced, it means that there is something wrong with his understanding of trading.

Everyone's interests will be different. There are those who prefer long-term investments and there are also those who prefer trading. At least for a beginner who wants to start, he must have someone who can provide explanations and knowledge to him.

Without knowledge and direction from people who already have experience in the investment field, it is better for us not to try to do it because it will cause us losses in investing and if we have the desire to invest, I think we need to seek knowledge about investment from those who have have experience in this field. You are right, there are two things that can be done in investing, some do it long term or short term, but in my opinion, if we just try it, it would be better if we just try one of them so that it can be easily understood after understanding it, then we will You can try other ways to get profit.