Topic: 16k DOLLARS LOSS IN JUST 1 YEAR (Read 961 times)

I read your story and i want say your some wrong step, Why you started with big amount of dollars while you are not a experienced traders, 1k$ is not a joke.
The sound is you traded as like gamble it's not trade, without knowledge started trading it's your big mistake, it's very sad you already lost 16k$ for aggressive trading.

Bitcoin price is increasing as continuously but we have seen now it is more stable at above $35k which is a better sign of relief for the traders which are going to make some huge investments in different coins they know and have knowledge. As in crypto space, a person who have some knowledge about its coins he wants to buy or if he wants to invest in that, he must be at that stage in which he knows what the coins really is.

Many traders in the trading competition are far behind still now because they didn't have some proper management and planning and they didn't have mostly the ability to cover these topics in which he is weak like one is strategy.

Investing in cryptocurrency is not a very risky thing, but trading is very difficult and people take it easy and lose money trying to get more profit. Sometimes even people who know how to trade make a loss in trading. Those who do not know how to trade, yet participate in trade, are like gamblers.

$16k is certainly a lot of money, but even if a million dollars is given to people who have no experience, they can waste it.profits are not guaranteed in any business , but  must be a good experience, and always move with the market. It is very important to know how the crypto market works. A good amount of money is required to trade in the cryptocurrency market, here you can neither trade nor get profit with the amount of pocket money.

One of the things that everyone is really that experiencing specially when you are still a noob, getting FOMO'ed? Pretty common and if you are someone who arent that emotionally stable or something that being too impulsive then you are really that susceptible on making out with those impulsive reactions which would lead up into those actions and decisions on which it might not really be that giving you some advantage because we know that once your emotions are disrupted then there's no way that would'nt really be changing up your mind into the decisions you might be taking.

If we do speak about losses, then it is really that inevitable. Why? We are  dealing with a market on whose really that too volatile and unpredictable. So it is really that normal that
there are positions on which we do make out some bad decisions into it, the important thing on here is that you should be getting prepared for some
additional or back up plans when it comes to this matter. Also mistakes are stepping stones or something that could make you more better as you do go ahead.
You would be finding soon later that you are really that enhancing up your skills.

But you see the price of bitcoin now..the main problem is that we can't wait for trading we are getting panic fastly.we are thinking short way for trading to make rich which is not good..in this crypto trading there a lot of coins which all are not same we should understand the market situation after that choose a best coin which have good price chart records previously like BTC if this 16 was invested in bitcoin when bitcoin was at price of 16k dollars then your money would now 37k dollars always choose right coin

As I advice for all person do not invest money when you didn't know how to trade first of all we should get good knowledge about trade after that we should not invest our pocket money on crypto if we have extra money which might be loss in crypto so we wouldn't in tention 16k dollars is not less money but are unlucky becauseay be you have not good knowledge about trading

It's quite unfortunate, but that sounds like FOMO. If you're not familiar with what FOMO is, you can read about it here: https://www.techtarget.com/whatis/definition/FOMO-fear-of-missing-out

It's important to note that coins with weak fundamentals that rely solely on pumps to attract investors are often a bad sign for their future... even if you get them at a low price, there's still a possibility that their value will decrease in the future, potentially reaching rock bottom. It's crucial to choose coins carefully if you intend to use them as part of your savings strategy to help safeguard your assets and preserve their value.

imo, your mistake might have been placing too much confidence in coins going through a pumping phase and rushing to enter without logical reasoning. It's a good idea to practice patience and observe market movements. Then, align your approach with your trading style, whether your analysis is for the long term or the short term.

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.

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.

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.

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.

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. 

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.

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.

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.

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.

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.

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.

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.

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.