Topic: 16k DOLLARS LOSS IN JUST 1 YEAR - page 5. (Read 848 times)

It is a bit confusing, you traded crypto coins or you invested in crypto coins? 
They are not the same, you can't do both trading and investment with a single strategy. According to your story, I don't see certain strategies you applied on your trading/investment. You only did both of them with the same way.

Well, you said you have no teacher, which means you trade/invest from a self-taught learning. I'm just curious, how long you learned before you started that trading/investment journey? I suspect you too early decided trading/investing, you actually still didn't have sufficient knowledge.

You said, you also traded in future. I'm surprised you did future trade although you seem having not enough knowledge/experience. Although you have trade few months, I don't think you are ready for future trade. I bet most your losses come from the future trade, didn't it? 

Of course - you should not give up because you are losing, but improve the strategy.
I think that's the best advice for you so far - but stay away from greed even if you're really tempted by the same thing as before.

In general, day trading is tempting because of the profit potential - but in the long term day traders find it difficult to control their emotions and psychology because of market volatility. You need to stay away from futures trading anyway - it's only good if you understand the risks and also have a budget limit. Invest instead of trade - that's advice worth considering.

1. Invest or trade only on coins which had been that known or having that good liquidity or volume.
2. Spot is recommended for noobs and futures is just pure gambling
3. This is where analysis would kick in, if TA's shows that you are already on possible peak or already that getting left behind, then dont make yourself FOMO
4. There's no way on telling the peak and that what makes this market unpredictable in the first place.

Experience? We are all inevitably be able to experience the same stuff since all of us did really come on being a newbie on which these mistakes or errors are really that common.The bad thing
that you have done on here is that you had really that put or make use of huge amount of capital despite of being a noob which if you had just make out or use some
small amount of money just for some training up yourself then you wont really be that losing that big but since you have done the different thing then this is where things turns
out to be shit but well this is a lesson learned for you even though it is costly but its impossible that you havent learnt something from it.

As long as the OP words are not confirmed by screenshots, it is possible to question his losses in the amount of 16 thousand dollars. It is possible that such a thing really happened in his trade, but only with a smaller amount. Or the OP trading method is comparable to a casino, when all the money is put on a new coin with increased risk.

Your statement is very vague due to the poor grammar but obviously you loss your money because you keep investing on tokens that is too volatile. You are also easy to jump on pumping tokens that gives you a huge lose since you purchased at top.

Use a long time frame next time when you view the chart and never purchase token that is just recently pump(few months or weeks) because this token will surely correct due to many early traders will take profit once resistance already hit and established. Purchased only Bitcoin if you don’t want problem. I’m sure you can quickly recover from this since you have high salary judging on how you can add capital every month until you come up with that lose within a year only.

Buddy, nothing is good in excess. The reason for saying this, is to go overconfident is being many times face a lot of losses. A person I know is similar to your activities, he himself told me that he will gain profit by doing this trading, he does both future and spot trading with dollars buying from me. But in case of selecting coin he selects alternative coins in the hope of extra profit. Ultimately it appears that he has faced loss. Moreover, there is the issue of emotion control, so some of my friends faced about 18k and another 50k dollars in the Luna incident.
But if you can follow the strategy you are currently adopting correctly, after long term strategy you can gain a good profit. Here you must be patient and control your emotions. And of course by following a proper DCA method you can invest in Bitcoin for long term. Best of luck.

Upto when I will do trade as paper trade..why shouldn't invest real money when I believe my self that I can do more things in the crypto filed.the best method now in trading I think only bitcoin but I seems to wait for a long time

There seems to be a problem with the way you handle yourself in what you are doing. You've admitted that you aren't experienced enough in trading, so how come you risk a large amount of money in it? Isn't it the right approach to start with a smaller amount and evaluate yourself first to see if you're ready to go big? It appears you might be playing with your money, if I may say. Trading is all about knowledge and experience, so starting with a significant capital for someone who isn't experienced enough is a bad move and is bound to lead to losses sooner or later.

I've also noticed that you're involved in different kinds of trades, which I think is another mistake. I mean, for a trader who isn't very knowledgeable, you should focus on simple trades only, like the classic 'buy low and sell high' technique. Once you've mastered that, then you can consider moving into something more complicated.

I suspect that you have fallen into the trap of a pump-and-dump scheme from a group that will benefit from inexperienced traders like you who buy coins that are going up because they think they will still rise higher but the opposite happens, and the coins are usually with a low market capitalization or could be on the list of exchanges that will be delisted as soon as possible.
An important lesson is not to get involved in trash coins like that, because many people use these coins to pump and dump and make a profit from that. If you want to trade on altcoins it is better to have the highest trading volume on that exchange although this is not a guarantee because anything is possible in the crypto world like you experience a lot of losses even in a very short time.

To be honest ... it sounds to me now like you want to lose significantly more money.
So what's your strategy that you're going to change? Maybe you could get some tips here before you put them into action.

Here as a general tip: Especially as a newcomer in the market, you should never invest real money but deal with paper trades for a long time. This way you learn a lot about yourself and your trading behavior, but you don't lose money if the trades don't go as planned.

You are probably trading shitcoins and taking part in pump and dump schemes. Don't fall for those telegram groups who say this coin will go up.
You have to give your time to the market and learn things. You are doing all those mistakes which have already been discussed here several time.
So you definitely need to slow down now and learn to trade before diving right in. Start learning analysis and start slow.

i cannot leave trading but i can change the method for my trading.now i thinking if i should invest only in bitcoin then i could not lost a huge amount.i hope i will recover it in 2 to 3 years with a positive thinking and specially changing the trading method.

Either courage or greed decides to start trading with very large amounts of money.
I really wonder why there are people who are so brave when in fact they should know first that the crypto market is very risky and they should learn first so as not to suffer big losses.

What you say is very true that emotions that determine trading destroy trading itself, And also because the capital is large, it makes things worse because realistically someone who trades with large capital will want large profits too.
Especially for a beginner who doesn't understand much knowledge in trading.

Experience is indeed expensive, but a big defeat will definitely affect a person's mentality in starting again, there will definitely be a feeling of fear that will haunt him in the future if he does the same thing.
However there is really no other choice but to make this a lesson and start better so that we can recover from the defeat we have suffered.

I guess you just learnt the hard lesson I try to repeat as often as possible for people in this forum. That is, trading is most likely not for you, and even if it is, trading is most likely going to cause you losses.

People complain a lot when you say this, but not a single trader who does this can show you pure 100% transparent trade history where they made money by following a particular strategy.

Put money you can afford to lose. Invest in Bitcoin and Ethereum long term (buy not trade)

Well, you are a trainee you said, and you invested that amount of money? I don't want to say that you're insane, but for me, you really are. Just imagine losing that huge amount in just a short amount of time? That's ridiculous TBH.

Where did you make a mistake? I will tell 2 reasons that I think it is.
1. You invested a very large amount of money when in fact you are just starting. What is your monthly salary if I may ask OP? Newbies tend to lose money at the start of their trading journey. Well, it's understandable that you lose money since you stated that you're a newbie, but to lose that amount when you're just starting? Like I always say, "Experience really is very expensive."

2. You let your emotion decide for your trade, and because of that, you made wrong a wrong decision. You bought a coin that's pumped up in price already, and you hope that it will pump even more. I know that because I also experienced the same thing that you experienced when I was a newbie. I also bought a coin that's price has been pumped already because I think that I can get short term profits on it. Ending? I lost more than half of my money because of that decision. I let my emotion decide for my trade, and that's your problem as well.

I guess you need to lose a huge amount of money to learn something from trading. I don't want to say that you need to continue trading especially after losing that amount, but if you really want to continue trading despite what happened then it's up to you already. Good luck with your life, and I hope you will recover from these losses that you incur.

we cannot say that where is the fundamental levels of coins because you can take example from the DOT coin which was at the price of 55 in january 2021 now you can see the the price is 3 to 4 dollars.how can we know where is the dip level and where is the up level.all the movement of coins is according to bitcoin if bitcoin is up all the coin will go up if bitcoin is going down the coin will be down respectively

You trade in the wrong coin and perhaps the confidence caused by the hype in trading is quite dangerous and we are unable to control when there is a decline in the coin. Even if you buy a coin when the price is down, if the coin does not have good fundamental levels or is only influenced by hype then it is not a good decision to get involved in it. I don't trade on the short term because I don't have any special skills, but I prefer to trade when I am truly prepared for all the possibilities that may occur. The mistake is that you don't understand trading but still insist on getting involved in it using a large budget at once and you should trade with a small budget first if you don't have the experience and skills.

The coin chosen must be able to be analyzed for its development because engaging in short-term trading is much more difficult than choosing long-term investments. If you don't have this ability, you should choose a coin that is much more fundamental for trading, so that you can avoid losses like the ones you felt at that time.

she spent a good amount of money when she was very early in this trading market. she should test it with few bucks first up until she got a good grasp of what she's doing.
if she bought btc, i highly believe, she will still have those satoshis. and happy about it.
- for one, don't invest on alts that you have no idea of, esp those pnd alts. you will easily get rekt by these projects.
- don't buy fomo, or other hyped up projects
- stick to btc every time you are in doubt about the coin you want to buy
- don't go to futures if you have no idea about this, stick to spot trading while you are learning more about this market.
but as she walked her way on this market, hopefully, she will learn a thing or two before she totally regret of knowing about this market

You should not buy coins whose price has already increased significantly. It should be remembered that this is not the last opportunity for you to become a millionaire. Also, you should not buy one coin for your entire deposit. In this case, if you have chosen the wrong coin for investment, it will not entail the loss of the deposit.

That's quite a loss, you don't seem to have a good strategy that can be applied.
Trading Spot and Futures requires a good knowledge of trading.
If you don't know that, it's very risky.

The initial investment of $1000 is also quite large and can develop consistent trading if you do it right.
But you are interested in hype coins and when you get profits you don't sell them.

You need to have a target to sell, not just hold.
When you reinvest $6000 it becomes a big investment peak, here I know you are affected by FOMO with the hype coin.

If you enter recommended coins such as Bitcoin and ETH, I think you will still get profit in the end.
And you need to apply risk management and financial management.