16k DOLLARS LOSS IN JUST 1 YEAR

[bhadz]

Don't be like that if you're a starter trader. You can start with a small amount for your trades just to get familiarized with how it goes. Putting $1k already as you start is like a pro move but do you think that you can burn that much money just for the lessons? It is better to get discouraged for the newbies to start with huge money as you trade but if that's what you can afford to lose, it's not my money to touch it but just saying that start with little trades first before getting greedy with your future trades.

[1714963682]

1714963682

[Assface16678]

You've made many mistakes. First, you trade without enough knowledge. I get it. You don't have someone to teach you or an expert trader to teach you. So what you should do is work hard to gather a lot of knowledge and experience in trading, but you choose the shortcut, which is to keep trading even without the right amount of necessary tools. Second, you keep on trading even if you notice you are keeping on losing, which is an indicator that you chase your losses, which is pretty bad. Third, the amount of money you trade is huge, which is too risky. Remember, too much risk equals a huge reward, just as too much risk can result in a big loss. You also don't focus on one coin only, which you should do so that you will become familiar with the coin and own it. and also buying in a late trade, meaning you ingage in a trade where the profit potential is past, which is not a good move for a trader. I hope you've learned your lesson, but you've learned it in a hard way.

[uswa56]

You've made many mistakes. First, you trade without enough knowledge. I get it. You don't have someone to teach you or an expert trader to teach you. So what you should do is work hard to gather a lot of knowledge and experience in trading, but you choose the shortcut, which is to keep trading even without the right amount of necessary tools. Second, you keep on trading even if you notice you are keeping on losing, which is an indicator that you chase your losses, which is pretty bad. Third, the amount of money you trade is huge, which is too risky. Remember, too much risk equals a huge reward, just as too much risk can result in a big loss. You also don't focus on one coin only, which you should do so that you will become familiar with the coin and own it. and also buying in a late trade, meaning you ingage in a trade where the profit potential is past, which is not a good move for a trader. I hope you've learned your lesson, but you've learned it in a hard way.

I can't understand how people trade without any knowledge, it's an illogical thing in my opinion, not only in trading but everything we do must of course be based on knowledge, regardless of the reason, but in my opinion there are so many places nowadays so we can learn to gain knowledge before we trade.

For investment choices, in my opinion, everyone has their own targets and whether they want to have many choices or just one type, there is no difference in my opinion because that is not something that minimizes risk. In fact, before we choose an investment option, the most important thing is knowledge about investment. what we will do is the most important.

[YOSHIE]

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 I consider what you do with your crypto trading activities, based on the data you submit below.

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

For me it's a common thing to do, maybe I use the method like you did above, I'm sure of that.

However, the difference is the type of crypto you choose in the trading method, I am very sure that if you choose Bitcoin, you will not lose, My experience is that when I paid attention to the crypto market in the last two years and considered several types of coins that were often removed on various existing exchanges, including Binance, at that time I came to the conclusion: I think taking other coins besides Bitcoin is high risk, for that reason I concluded that Bitcoin is one of the best choices for me in trading or investing, nothing else.

[lixer]

Don't be like that if you're a starter trader. You can start with a small amount for your trades just to get familiarized with how it goes. Putting $1k already as you start is like a pro move but do you think that you can burn that much money just for the lessons? It is better to get discouraged for the newbies to start with huge money as you trade but if that's what you can afford to lose, it's not my money to touch it but just saying that start with little trades first before getting greedy with your future trades.

The very first thing that a newbie needs to understand is that they need to gain enough knowledge about the market, trading practices and techniques, types of analysis, and anything about the coins and tokens that they are going to trade. Once they do that, they should know that futures trading isn't for them since it requires even more extensive knowledge and experience and that experience can only come if you spend some time in the market doing other trades like just buying and selling after a short time intervals so that you can have an idea about how the market and different coins move.

You are absolutely right that when a person is in the learning phase, they shouldn't use a very high amount for their trades but they should only use small amounts for each trade so that even if they fail some trades, they won't lose a lot of money and the amount lost should be recoverable through later trades.

[Rengga Jati]

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 question is:
When you have started losing money on Altcoins, why do you continue trading in these Altcoins? Moreover, you do it in altcoins which I think are new altcoins and don't have good potential. What's more, you trade on the Future market. This is an initial mistake as a beginner doing future trading. This is very high risk and is not recommended for beginners before they really understand it first by learning spot analysis.

Actually, if it's on the spot, as long as the coins you take are coins that basically have a future, this won't be a problem when the value decreases. However, if they are shitcoins, then be prepared to go to zero. It's better if you start again, do it only in Bitcoin and make sure to wait until the bullish era comes. There's a big chance you can get some profits. Even though it might not be as tempting as the hyped altcoins, it's much better with lower risks compared to gambling.

[Issa56]

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.

If you are an investor, investing in only bitcoin is what I mostly recommend. Investing in bitcoin is less risky if you are holding it for a long time, and you don't need to diversify your portfolio. But I know some people just prefer investing in altcoins, which I don't really see as a nice idea. If you go all in with an altcoin, then you are taking unnecessary risk because if the altcoin crashes, then all your money is going down with it. But if you diversify your portfolio, if some fails you, then you might be lucky to recover from others.

In trading we must be able to place targets and stop losses logically,

Stop loss is really important, actually, I don't use it because I am always online monitoring my trade, but I do recommend newbies to always make use of it in case the market goes against them, it's going to cut their losses, but some newbies don't even know that stop loss exists, all they want is to start trading and make money. They don't know the basic things that they are supposed to know before trading.

from which 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

For both long-term and short-term investments, bitcoin is still the best. Don't be deceived by what you hear people say. Investing in bitcoin will give you peace of mind.

[GiftedMAN]

Don't be like that if you're a starter trader. You can start with a small amount for your trades just to get familiarized with how it goes. Putting $1k already as you start is like a pro move but do you think that you can burn that much money just for the lessons? It is better to get discouraged for the newbies to start with huge money as you trade but if that's what you can afford to lose, it's not my money to touch it but just saying that start with little trades first before getting greedy with your future trades.

There are lots of mistakes we can make as a trader but the most important thing we need to ensure is not be too greed even when we don't have a solid knowledge or experience about the market. Crypto market is very risky and we need to think very wise when we want to make decisions. A good decision and plans couples with strategy is what make us a good trade. If we don't have a trading plan or strategy, we can keep making the same mistakes over and over again without understanding the reasons why we keep losing in the market.

[BitcoinTurk]

I can't understand how people trade without any knowledge, it's an illogical thing in my opinion, not only in trading but everything we do must of course be based on knowledge, regardless of the reason, but in my opinion there are so many places nowadays so we can learn to gain knowledge before we trade.

For investment choices, in my opinion, everyone has their own targets and whether they want to have many choices or just one type, there is no difference in my opinion because that is not something that minimizes risk. In fact, before we choose an investment option, the most important thing is knowledge about investment. what we will do is the most important.

Many people, who think that they can make a lot of money easily by trading especially in the cryptocurrency markets are pumped up by the ridiculous motivational videos shared on Instagram and think that they are experts in everything usually start trading in the cryptocurrency markets without any experience. Since there are more earning chances and opportunities in the cryptocurrency markets compared to other financial markets many people with no experience generally trade inexperiencedly imagining that they will get rich as quickly as possible.

It should never be forgotten that having knowledge and experience about the preferred investment method is as important as making a good choice in making money by investing. For this reason, the most important criterion when investing is to learn from the experiences of others and to analyze our own mistakes well and improve ourselves as a result of these experiences.

[Bitcoin_people]

If you were a wise trader you would not have made such mistakes. Because you traded with a lot of money without realizing and lost it was because of your mistake. First of all, since you lost $16000 dollars, it is a lot of money, if you had better understood trading, you could have made a profit and not lost money. Moreover, while trading you must take the advice of an experienced person so that you can make profit and not face loss. If you had started from the beginning with a small amount of money, you might not have faced such a huge loss. You should start trading with $1000 and gradually learn you trading skills. If you had been trading this way from the beginning, you might not have faced such huge losses. It's really sad that you started training with a huge amount of money and lost all your money very quickly, but this will always discourage you from trading.

[goldkingcoiner]

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.

Sounds like to me that you went in and tried to trade without knowing what you are doing. And the worst part is that you did it with real money.

For the next time, practice trading on testnets or by buying/selling imaginary coins. Once you have gauged how good your trading strategy is, you can move on to using real money to execute said strategy.

But do not worry. Most of us traders have lost much more money than that before we learned how to trade on a profit. You should see your loss as a learning fee.

That being said, hodling Bitcoin is the best strategy. Altcoins and trading strategies will never have more profit than simply hodling Bitcoin for many years. And if you take a look at the year chart, you will see that.

[Altryist]

Many people, who think that they can make a lot of money easily by trading especially in the cryptocurrency markets are pumped up by the ridiculous motivational videos shared on Instagram and think that they are experts in everything usually start trading in the cryptocurrency markets without any experience. Since there are more earning chances and opportunities in the cryptocurrency markets compared to other financial markets many people with no experience generally trade inexperiencedly imagining that they will get rich as quickly as possible.

It should never be forgotten that having knowledge and experience about the preferred investment method is as important as making a good choice in making money by investing. For this reason, the most important criterion when investing is to learn from the experiences of others and to analyze our own mistakes well and improve ourselves as a result of these experiences.

I am skeptical about any advertising that I see regarding trading, it is obvious that this is just a bait for gullible people who do not understand how everything works. It is enough to start trading to see how things really are, and most importantly, to understand whether this activity is suitable for you, whether you can make money from it or not. I am against a beginner starting to trade large sums of money, without experience it will be very difficult to earn something, or at least to keep what you came into trading with, so it would be worth starting trading with a small amount, which he will most likely lose, but perhaps he will be able to gain some experience or skills that will help him achieve good results in the future.

[BitcoinTurk]

Don't be like that if you're a starter trader. You can start with a small amount for your trades just to get familiarized with how it goes. Putting $1k already as you start is like a pro move but do you think that you can burn that much money just for the lessons? It is better to get discouraged for the newbies to start with huge money as you trade but if that's what you can afford to lose, it's not my money to touch it but just saying that start with little trades first before getting greedy with your future trades.

I definitely agree, in general many people who have just started trading in financial markets think that starting with a high budget is a professional move even though they don't have any knowledge or experience yet. This is actually a huge mistake because a beginner generally loses money during the learning and experience phase. I always state this;

An individual who has just started trading in financial markets should first gain experience and have an idea about the process with a low budget. Dealing with all capital in an inexperienced and uninformed manner only results in financial damage. Trading with the full budget always helps to achieve more efficient capital control after gaining experience in the process.

[Hamphser]

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.

Sounds like to me that you went in and tried to trade without knowing what you are doing. And the worst part is that you did it with real money.

For the next time, practice trading on testnets or by buying/selling imaginary coins. Once you have gauged how good your trading strategy is, you can move on to using real money to execute said strategy.

But do not worry. Most of us traders have lost much more money than that before we learned how to trade on a profit. You should see your loss as a learning fee.

That being said, hodling Bitcoin is the best strategy. Altcoins and trading strategies will never have more profit than simply hodling Bitcoin for many years. And if you take a look at the year chart, you will see that.

People would really be only minding on trying to go back into the drawing board and realize the things on what they have done, this is where regret would kicks in and would really be having that kind of thinking that they have done a huge mistake because they've rushed in on doing trading without that proper analysis and knowledge about it but instead they have done it with lacking awareness and with those basics until
it comes that their trading results or outcomes turns out to be shit. This is why it would really be that always recommendable on that when you are just starting completely new into a certain thing then it would really be just that wise or normal that you should be having that kind of approach which you should need to learn up things first.

You cant really just dive in without having those preparations because dealing up with the market or making up some trades would really be needing up that skills
and awareness on how this market moves. You cant really just make out some trades and doesnt really know on what you would gonna do next.

[BitcoinTurk]

I am skeptical about any advertising that I see regarding trading, it is obvious that this is just a bait for gullible people who do not understand how everything works. It is enough to start trading to see how things really are, and most importantly, to understand whether this activity is suitable for you, whether you can make money from it or not. I am against a beginner starting to trade large sums of money, without experience it will be very difficult to earn something, or at least to keep what you came into trading with, so it would be worth starting trading with a small amount, which he will most likely lose, but perhaps he will be able to gain some experience or skills that will help him achieve good results in the future.

Definitely, it would be beneficial to avoid all kinds of advertisements we see regarding trading because usually the target of such advertisements are inexperienced people and the only purpose of such advertisements is to exploit the person's money. The best option to gain trading experience is to enter the financial markets using a low budget and gain the best possible experience in this process. Especially a beginner has to analyze how the process works and how the financial markets move, with a low budget as he/she will be more prone to lose money in general. This is because beginners generally have a very high probability of losing.

Of course, individuals with good trading experience don't always win, they also lose money but it is also clearly known that experienced individuals make fewer mistakes. It is important to remember that experience and knowledge are the two most important criteria that will be needed in financial markets. Knowledge is best learned by reading and analyzing other people's experiences and experience is shaped by being able to analyze one's own mistakes in the best way possible.

[Lanatsa]

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.

Sounds like to me that you went in and tried to trade without knowing what you are doing. And the worst part is that you did it with real money.

For the next time, practice trading on testnets or by buying/selling imaginary coins. Once you have gauged how good your trading strategy is, you can move on to using real money to execute said strategy.

But do not worry. Most of us traders have lost much more money than that before we learned how to trade on a profit. You should see your loss as a learning fee.

That being said, hodling Bitcoin is the best strategy. Altcoins and trading strategies will never have more profit than simply hodling Bitcoin for many years. And if you take a look at the year chart, you will see that.

People would really be only minding on trying to go back into the drawing board and realize the things on what they have done, this is where regret would kicks in and would really be having that kind of thinking that they have done a huge mistake because they've rushed in on doing trading without that proper analysis and knowledge about it but instead they have done it with lacking awareness and with those basics until
it comes that their trading results or outcomes turns out to be shit. This is why it would really be that always recommendable on that when you are just starting completely new into a certain thing then it would really be just that wise or normal that you should be having that kind of approach which you should need to learn up things first.

You cant really just dive in without having those preparations because dealing up with the market or making up some trades would really be needing up that skills
and awareness on how this market moves. You cant really just make out some trades and doesnt really know on what you would gonna do next.

Potential loss would really be entirely be depending on how much capital that you had been able to put on, which means that amount could really be only determined on how deep your pocket is.
1 year would be neither be enough or not because learning process and adaptation or self learn will entirely be depending on how well a certain person do adapt on certain conditions.

Losing potential would really be that huge if you are careless but we know that losing is really that inevitable. Learning process would really be harsh and something that you cant really be able to assure
whether you would really be that able to succeed or not. It would really be that entirely be depending on how well you would be dealing with the market.

If you have lost that much for a year, then try to minimize it on next year. It is really just that impossible that you dont really be able to
learn up something with that kind of experience that you had attained. Its a matter of adaptation and adjustments which it is really that normal that
you would be needing on doing so for you to be able to handle such thing. 

[gabbie2010]

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.

Truly the OP traded without any prior knowledge of trading and traded randomly with altcoins, more importantly the OP should have traded with small funds as a trainee to minimize losing huge funds unfortunately losing $16K in a year is massive, personally I think the OP funded account shouldn't be more than $1K until when profit earning is consistent thereafter more funding into the account, however this is also a wake-up call to all new traders and investors to take enough time in learning how to trade and not just to trade blindly on any altcoins crypto trading or investment because it is not a get rick quickly scheme it takes a lot of time commitment and perseverance to become successful.

[taufik123]

-snip-
however this is also a wake-up call to all new traders and investors to take enough time in learning how to trade and not just to trade blindly on any altcoins crypto trading or investment because it is not a get rick quickly scheme it takes a lot of time commitment and perseverance to become successful.

Blindly trading will only bring losses in the end.
See how OP spent $16k in a year, it's quite unfortunate, whereas if he is able to trade well and knows at least the basic science of trading he will get profit even though not much.

If you just do trial and error and rely on feelings alone, trading will run like a blind man with no direction and everything becomes unclear.
Losses will be experienced gradually, the ratio of losses is greater than profits.

But it is still quite good if only in a year to experience a loss of $16k.
There are some people who trade blindly and lose thousands of dollars or even hundreds of dollars in less than a day.
And of course, they get into new altcoins managed by scammers.

[mirakal]

<...> 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.

Aside from that, you should not be trading in the first place because your experience and skills are not sufficient enough. You might be quite knowledgeable but that's never enough to make successful in your trades. Know that trading is hard and risky, so it takes a professional trader before you are entitled to gain decent amount of profits. For now, focus on long term hodling for bitcoin. If you want to maximize your future profits, then do the DCA every time you receive spare money from you salary.

Patience is always the key. While you are in the process of investing bitcoin for long term, then take your time to study how trading works and listen to the tips and advices for experienced traders. Learn from their experiences first before you decide to risk your money and time in trading.

[TelolettOm]

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
........
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 is cryptocurrency trading, where trading is very high risk. especially if we are beginners who don't really understand trading, strategy, how to analyze, and also manage our emotions and finances in trading. Then it will backfire as we trade both on the Spot market and even more so on the Future market. Again, the risks are very high. That's why, for beginners, instead of choosing trading, it would be better to just invest in Bitcoin as a preliminary while learning about trading well and maturely.

When it's Bitcoin, isn't it okay if its value decreases? As long as we haven't sold it, the amount of Bitcoin we have remains at that amount. However, it is true that our emotional ethics are not yet stable and our thinking is not yet very mature, so it will feel very sad when we see that the value of our assets is really at a very low value if converted into fiat. Yes, because prices keep changing. However, as long as we are able to hold it, it will not change the amount of Bitcoin you have. Once again, keep holding even though the value in fiat seems to be decreasing. Wait until the next bullish era, at least you can see it grow again.

but the problem is if it is altcoins that are not top coins, especially new altcoins that you bought during the hype, then to be honest, it will be very difficult for it to rise again to its original, very high price. Maybe there are, but it's very rare to find hype coins that can then skyrocket again later. Usually the value will continue to decrease. For this reason, we often see various advice here about being careful when we invest our money in altcoins. because it is high risks, riskier than Bitcoin.