Topic: 16k DOLLARS LOSS IN JUST 1 YEAR - page 3. (Read 947 times)

In my opinion, investment is definitely easier than trading, but not so easy that even a newbie can invest easily. Trading is a tough job and requires a lot of experience and skill, while investing also requires knowledge. Market volatility bear, season bull season, previous record and history of any coin, current season information about all these is very important. Only then can we be a good investor and make a profitable investment.

There are also people who bought Solana at $200 and bought Dot Coin at $40.Now you can see the current price of both where they are trading. Similarly, you will find many investors who bought Bitcoin around $50,000 and then the price of Bitcoin has dropped to $15,000.These will surely be people who don't know about investments and invest without knowledge and information after watching the price of Bitcoin decrease.

The issue for the OP is the high amount of money they have lost already, one widely known fact is that newbies lose money when they begin to trade, and if they had known this then they could have reduced the amount of money they invested and test the waters this way, experiment what works for them or not and finally once they get to know themselves and the markets they could take better decisions when faced with a difficult choice, but instead they used a lot of money from the beginning and now we are seeing the disastrous results this brought them.

The mistake I have clearly seen was, you are driven easily by the hype.

That $0.92 to $14 price increase is a situation where you should be vigilant especially if we are talking about altcoin. You got deceived by what you saw, a whopping 1400% increase and I understand the feeling. At that time, you are now under FOMO and still buy that coin at its hype price thinking you will be able to ride that trend.

Anyway, it's fine to feel egrettable about that decision. Losing experience is part of trading. What you should do now is learn from that experience and come back to trading as a more knowledgeable and vigilant trader. You should be serious from now on as you are spending decent money on the process. The same as having a business, you shouldn't allow your capital to be wrecked as much as possible.

Trading is a very risky platform as money can be easily earned and lost easily. You were relatively new there so you lacked experience. But there is no way to say that you could have profited there even with experience. Essentially you took a trade in a coin at a time when that coin was at its highest price. When the market starts to turn a bit bearish your coin price also drops very quickly. Any investment based on hype is more likely to lose. Also you kept your investment in only one basket which was also a big mistake. Investing in a diversified portfolio reduces the risk of losing quickly. Again, if you try to buy any coin from the dip, it is not possible because the market is bullish at that time and you have to wait for a long time to get the dip. But you have learned a good lesson from your mistakes. Hopefully in the future you will definitely be able to take better judgment and take trades before taking them.

It depends on what kind of trading you want to get involved because you don’t need that kind of technical knowledge if you will just invest on spot market and don’t sold at loss because you can hold your token until the price pump or recover in an event that it suddenly dump once you purchased.

The problem on newbie was they are too greedy and gullible to try risky sector of crypto trading such as futures trading. Crypto is already too volatile in nature and adding leverage on it will surely a killer. Exchange that offers a leverage higher than x20 is already unethical because they are allowing their customers to gamble without knowing the real danger of high leverage.

Oh..he Mr. OP, the strategies you adopted were completely wrong due to which you have suffered constant losses and lost money. Since you did not take trading advice from any wise teacher, you have to suffer this situation. It would have been better for you to have known things earlier when you first thought of investing. But instead of doing that, you start trading again without realizing it and end up losing money. You mentioned here that with the $6000 you purchased an Altcoin token, that too during peak pumping. You need to know these things first that the riskiest investment is altcoins, which can make you lose money quickly. When you bought this coin it was worth $11 dollars which seems to be the maximum pump and when it was dumped it dropped to $2 dollars which really dropped the collapse in your wallet. So you should avoid day trading, I hate this kind of trading at all, but investing for long term is the most preferred for me, and there is security of money to be gained.

It's true that everyone's interests are different. 1 year to learn trading is enough time even if you experience losses in 1 year. If after 1 year you still cannot implement strategic management, it means that you should not continue trading because it is not suitable and switch to long-term investment by choosing Bitcoin.
Investing in Bitcoin is more convenient for beginners. The level of complexity is more controlled. Buy when the price is low and hold until the price increases greater than the purchase price.

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.

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.

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.

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.


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?


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.

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.

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.

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.

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.

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

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.

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.

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.

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.