TRADING FROM 5 YEARS STILL IN 30k LOSS

[Diddy69]

I am trading crypto from past 5 years

When I was doing my Bachelors Degree I started trading and whatever I earn from freelancing I used to put in binance and do future trading.

Now after 5 years my total loss is 30k USDT

I am earning hardly 500 USDT per month from my job and recently got married

Let me know how to recover loss bcz now I also have a loan of 3k USDT on me.

 :)Is it all gamble or I consider it as fee of learning in this field

Should I continue to trade or leave this field

[JariKriting]

If you've been trading for 5 years but are still losing money, perhaps your knowledge of analysis is lacking or you're not able to absorb information about cryptocurrency trading well. Because 5 years means it's already back-to-back halving, meaning if you got in on the coin during the previous halving period, you're already covered and have turned a profit by the next Bitcoin halving. This is because the price almost always doubles from the previous halving with each halving. If you're not yet proficient and are still consistently losing money, it's better to trade in the spot market

[Dicbac]

If you've been trading for 5 years but are still losing money, perhaps your knowledge of analysis is lacking or you're not able to absorb information about cryptocurrency trading well. Because 5 years means it's already back-to-back halving, meaning if you got in on the coin during the previous halving period, you're already covered and have turned a profit by the next Bitcoin halving. This is because the price almost always doubles from the previous halving with each halving. If you're not yet proficient and are still consistently losing money, it's better to trade in the spot market

Yes that is very good advice, probably best to even forego trading entirely until the area/s needing improvement are identified and addressed. At that point, may as well gamble at the casinos because you'd potentially lose less and it's big wins are much more accessible, albeit rare, but requires little to no skill or extended knowledge, just luck and common sense.

[Rikafip]

Should I continue to trade or leave this field

I think the best course of action is to just take the loss and forget about trading.

The thing is, if you haven’t managed to become a successful trader after five years of trying, there’s a high probability that you never will, meaning you’ll only lose more money if you continue.

I know it’s not easy to accept such a big loss, but take it as a life lesson and move on.

[Ojima-ojo]

Is gambling nothing more, because future trading is considered the most risky trading form and should be considered as gambling nothing more than that in the end.

For now don't chase your losses by seeking new way to make up your $30k loses but avoid future trading and do more of spot trading.

[Charles-Tim]

Should I continue to trade or leave this field

You have been trading for 5 years but you have been losing, that is enough to make conclusion. I will highly advise you not to trade anymore. Cryptocurrencies are risky. Leverage trading is very risky also as you posted that you are trading derivatives. You have been trading for a long period of time, so the chance that you will make money from it is low. Stop trading.

[Odogwu-Blockchain]

You are actually sabotaging yourself by throwing away money to where you are absolutely not grounded in the trading knowledge, it's all your fault.

I am sure you haven't learnt the technical and fundamental knowledge about trading charts, if you haven't learnt, then it's all your fault again.

Since you are earning elsewhere from freelancing, what suits your investment strategy is long term holding. I mean buying crypto with 50 USDT from your freelancing jobs every months while keeping 250 USDT with you for any other upkeep.

Use this strategy and quit trading or pay a tutor to learn trading.

[LogitechMouse]

---
Should I continue to trade or leave this field

Getting married isn't a problem IF you have enough money to use to cover all of your expenses. Well if your wife helps you with the expenses then that's fine, but you shared it here because it seems that she doesn't. This is just my assumptions though, and I don't know you personally.

Taking a $3,000 loan just for trading? One of the worst things that you can do in the crypto space is taking a loan, and use it for trading. If you will use it for long-term investing then that's fine, but for trading. Now with regards to your trading journey, having a $30,000 loss because of trading isn't new. I mean there are traders out there that already lost more than what you lost in 5 years. I know it's disappointing, frustrating, and you feel regret because of what you've done, but if trading affects you financially in a negative way then I guess it's time for you to just stop and take the L.

Losing that amount of money and taking it as just some kind of "fee"? You're just creating an illusion, and it will never be like that... or maybe if it's just a hundred dollars and you've learned from it then you applied it on your futures trades and you became better then you can say that it's a fee, but to lose that amount and consider it as a fee? That's ridiculous if you will ask me. Now how you can recover it? If you see that you don't become better, better quit and forget about it. I know it sounds hard but sometimes, that's the only solution that we have to prevent further losses. Now if you want to continue trading despite of what happened to you then go find another source of income where you will get your trading funds there. Also, pay your loan.

[macson]

Let me know how to recover loss bcz now I also have a loan of 3k USDT on me.

 :)Is it all gamble or I consider it as fee of learning in this field

Should I continue to trade or leave this field

You're already in a difficult position, so it's best to just quit trading. Continuing is pointless. You're only taking a huge risk, potentially ruining your finances if you don't consider quitting now.

My advice is to focus on your current job, and you should take on two or three jobs if you can. If not, just focus on your current job. It's also best to cut down on unnecessary expenses, as you've just gotten married and will need a lot of money for your family in the future. It's best to manage your finances and start saving.

That's the best thing you can do right now.

[free-bit.co.in]

If you've been trading for 5 years but are still losing money, perhaps your knowledge of analysis is lacking or you're not able to absorb information about cryptocurrency trading well. Because 5 years means it's already back-to-back halving, meaning if you got in on the coin during the previous halving period, you're already covered and have turned a profit by the next Bitcoin halving. This is because the price almost always doubles from the previous halving with each halving. If you're not yet proficient and are still consistently losing money, it's better to trade in the spot market

Even if you are a trader with 10 or 20 years of experience, skills and a huge amount of knowledge. There is no guarantee that you will always be profitable and never lose, or that you can easily make money from trading.

Trading is a highly speculative market and its very nature is one of probability, not certainty. So knowledge, experience and skills help to some extent, but they do not guarantee you anything. Therefore, it is not uncommon for a veteran trader to lose money and go bankrupt.

There are many stories of whales, big investors being liquidated, losing millions of dollars. Do you think people who own millions and billions of dollars are newbies? No, most of them are experienced traders but they still lose like us. Because trading is not easy.

[Beparanf]

Let me know how to recover loss bcz now I also have a loan of 3k USDT on me.

 :)Is it all gamble or I consider it as fee of learning in this field

Should I continue to trade or leave this field

Stay away on futures trading because no matter how good your experience is there’s no way you can precisely knew when will the market be volatile and at what price level it will hit since it usually wipe both long and short position with those wild price swing.

Much better to focus on your just until you repaid your loan and just do spot trading. That 30K loss of yours is already a good investment for your future if you just purchase Bitcoin and hold it.