TRADING FROM 5 YEARS STILL IN 30k LOSS

[fuguebtc]

You are an experienced trader yourself and have already lost a lot. It surprises me that you are expecting advice in this situation. It is disappointing to have such a high loss after trading in the short term but you should have realized this earlier.

I even know a forex trader with 10 years of experience, and he is also experienced a lot of big losses. But they still seek advice from others, sometimes even from people who know nothing about trading. Simply because when losses persist, they often lose direction, fall into a state of deadlock and can no longer view the problem objectively. Therefore, it is perfectly normal for them to ask for advice.

I am sure you were greedy and traded low value shitcoins and got addicted. My advice is forget trading although it is not easy. However I would advise you to withdraw yourself from trading in the hope of short term profits.

Even if you trade with bitcoin, not shitcoin, you will still lose money if you use high leverage. Bitcoin will not save you in this case.

Start accumulation Bitcoin for long term using DCA method. This will be the only ideal investment for you and continue Bitcoin for 4-10 years with your comfortable funds every week.

OP has 5 years of experience in the market, and I think he understands this better than we do. But he still chose to trade futures.

I think what he needs to do is take a break and stay away from the market for a while to calm down.

[Ishicryptic]

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

$30k is a lot of money for many people and losing that much within 5 years and wondering how to make profit to offset $3k loan means that you will likely lose more than 3k in pursuit of making profit to repay it. For now I will advise you to take a break from trading and decide whether it is actually for you, trading is very risky, only very few experienced traders makes all the profit. Remember that you don't have to be a trader to become successful in life, within 5 years you have lost so much money maybe it's time to look for other opportunities to make money. Unless there's something that you want to add to your trading skills if not it is better to quit now.

[lizarder]

This means something is wrong with your trading and a thorough evaluation is needed to avoid repeating the same mistakes. Some say it's due to poor analysis or a lack of a proper trading strategy. I don't want to discourage you, but it's better to leave trading and start learning about investing in potential assets like Bitcoin. I don't believe trading is suitable for everyone because of the high risks. I've personally experienced losses in trading and realistically, trading may not be the right place for us.

The difference is that I don't trade with capital I can't afford to lose, making the learning process much easier and less problematic. Currently, I don't trade consistently, only occasionally when I see the right momentum. Generally when trading, I never forget to set a stop-loss to limit the amount of losses I can tolerate. So, it's better to start something more relevant, like investing because perhaps our trading knowledge isn't up to scratch.

[Mame89]

This means something is wrong with your trading and a thorough evaluation is needed to avoid repeating the same mistakes. Some say it's due to poor analysis or a lack of a proper trading strategy. I don't want to discourage you, but it's better to leave trading and start learning about investing in potential assets like Bitcoin. I don't believe trading is suitable for everyone because of the high risks. I've personally experienced losses in trading and realistically, trading may not be the right place for us.

The difference is that I don't trade with capital I can't afford to lose, making the learning process much easier and less problematic. Currently, I don't trade consistently, only occasionally when I see the right momentum. Generally when trading, I never forget to set a stop-loss to limit the amount of losses I can tolerate. So, it's better to start something more relevant, like investing because perhaps our trading knowledge isn't up to scratch.

Sometimes we need to reflect and evaluate all our trading activities after experiencing losses, especially if we've been trading for five years. There's certainly something wrong with the OP. Moreover, trading for five years means we've gone through a cycle and we should have profited because there are many opportunities to capitalize on when that cycle occurs.

And yes, the final resort is to stop trading and switch to investments, which carry lower risks. If the OP from five years ago had immediately invested he would have now achieved significant profits. Trading is a risky activity especially futures trading, so evaluating your goals in the crypto world is necessary because many people are simply not suited to trading.

[NotATether]

OP has 5 years of experience in the market, and I think he understands this better than we do. But he still chose to trade futures.

I think what he needs to do is take a break and stay away from the market for a while to calm down.

OP needs to learn how to make probability models of events (i.e. functions where you just plug in all of the data and it spits out a probability as output) instead of relying on his gut to trade money he can't afford to lose, especially if he only makes 500 USDT a month.

[lizarder]

Sometimes we need to reflect and evaluate all our trading activities after experiencing losses, especially if we've been trading for five years. There's certainly something wrong with the OP. Moreover, trading for five years means we've gone through a cycle and we should have profited because there are many opportunities to capitalize on when that cycle occurs.

And yes, the final resort is to stop trading and switch to investments, which carry lower risks. If the OP from five years ago had immediately invested he would have now achieved significant profits. Trading is a risky activity especially futures trading, so evaluating your goals in the crypto world is necessary because many people are simply not suited to trading.

What needs to be evaluated are is a trading pattern and should not expect higher. Most people fail not because they lack ability but because they have too high expectations of achieving profits in trading. This mindset can lead them to be contaminated by principles that are inconsistent with their previously applied trading patterns. This could also be attributed to the greed for quick riches in trading leading many people to believe that trading can help them achieve it more quickly. However in reality trading isn't for everyone, especially those who lack discipline and never evaluate their previous trading mistakes.

If the conditions are like those experienced by the Op, then it is best to stop for a moment and make some evaluations regarding trading and if it is considered that trading cannot provide a positive impact, then it is best to stop and look for other sources that are much better for making money, such as investments or other things that can be utilized well by him.

[lienfaye]

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

It depends. Because it is quite normal to make a mistake and lose your capital if things didn't go the way you expected it to be. However, it will left a lesson that you can use on your next trade. Certainly you can develop a working strategy and a risk management to minimize losses. Trading in futures is not easy and risky compared to spot trading. You already lose a decent amount yet it seems you still didn't get the right knowledge on how to become profitable.

Trading will be like gambling if you're just doing it blindly and without plan. But if you apply what you have learned to your past trades, certainly you can recover back your losses slowly.

[Zanab247]

Honestly? I am not even shocked because I have seen plenty of people like this. Not exactly 5 years and 30k, because everyone has different, some do 3 years and 10k, some do 8 years and 5k and some do 6 years and 100k, there are so many people who earn and lose but mostly lose.

In fact, there was a study where it said 70% of people in the crypto trading world loses money to 30% of the people who make money. Meaning smaller amount of people take the money of majority of the people so I am not shocked about what OP did.

I don't know what such traders will be expecting from their trading, because they don't know when to take a break to study where the problem is coming from and how to apply full stop to it. Some new traders don't notice when they are about to miss it in crypto trading, because their major target is what they want to earn from their trading not how to employ some strategies that will help them to recover their losses.

I know some of my friends that loss more than what they were earning from their crypto trading, but that is not the best achievement traders can receive from their efforts, because once your losses is higher than your gaining it shows you are not making progress in trading.