The most common mistake you have done is not having a teacher, look to whatever things you wanna be today you needs a guardian who will lead you to the successful part of your trading, so your mistake again was when you didn't invest in bitcoin your attention was on altcoin and you never for any day have this feelings that your coin can turned to zero in a single minute without you knowing your stance and I must say you invested in shitcoin rather a good coin. Which likely ended up a pump and dump coin. Go have a teacher and come back again to better yourself than doing it your own ways.
Good luck!
Topic: 16k DOLLARS LOSS IN JUST 1 YEAR - page 6. (Read 848 times)
You can invest to as many coins that you can as long as you know their fundamentals and you understand the tokenomics of that coin, not just as a trader but also as an investor.
And with futures, it's like just for real risk takers that you can take because it is truly for gamblers. If you are a gambler and you think that you can attain the risk in the future, do it with small amounts.
And with futures, it's like just for real risk takers that you can take because it is truly for gamblers. If you are a gambler and you think that you can attain the risk in the future, do it with small amounts.
If you are not really ready and understand about trading in crypto, you should understand it first with enough knowledge. This is a provision for what you have to do. It looks like you bought when the coin was hype. The next mistake is probably because you bought into the altcoina hype. No matter how much money we spare for certain coins, if they have hype altcoins, it doesn't guarantee you will be successful. because it will be very difficult for elcoin to rise again If they are menstruation Points will end up as shit coins. In my opinion, the most appropriate thing is to just invest in Bitcoin because it will have a lower risk than the others. and of course the opportunity to rise in Erabolis will be greater and it is worth holding on to.
Starting big during your learning process is quiet not good, because that’s already big for the starter.
Well, you’ve already loss the money and you can’t do anything about it anymore aside from moving on. This could be the costly lesson for you to take but you have to stand again and do better this time. If you are not doing for the past year, learn from it and understand the process before making any movement again. Trading is very risky, and this is not an easy money to get, you have to analyze and create your own strategy just to succeed in trading.
Well, you’ve already loss the money and you can’t do anything about it anymore aside from moving on. This could be the costly lesson for you to take but you have to stand again and do better this time. If you are not doing for the past year, learn from it and understand the process before making any movement again. Trading is very risky, and this is not an easy money to get, you have to analyze and create your own strategy just to succeed in trading.
I HAVE JUST EXPAIN TO YOU MY JOURNEY OF TRADING THAT HOW I HAD LOST THESE DOLLARS.
I have started the trading from BINANACE app and I invest 1 k dollar at the start from spot while I had no teacher
i was in trainee at that time one day was will profit the other day was my loss day every month I invested in binance app from my salary
after investing these money would finish in just 4 to 6 days after that I again wait for my salary.
At the end in invested 6 k dollar at one time but there was a coin which has up from 0.92 to 14 dollars I bought this coin in 11 dollars and
unfortunately this coin dip to 2 dollars and I was see my loss in just 10 minutes.
My trading method I just sharing with you tell me where I done a mistake
1: invest in one coin also multiple coin
2: trading was at spot also futures
3.coin was buy from dip they again more dip
4.coin was sell from top they again go up
Kindly share your experience that I m doing a loss you are also a part of my problem so that I want to khow where I done mistake.
it is just too unfortunate for you not to have got what you expected to earn from trading. Moreover, you should have at least learn something about trading that would limit your loses. It is very advisable for people to learn how to trade not just glancing at trading materials and admitting of understanding what trading truly is. If you have at least learnt how to trade, this would have limited your loses or even give some good profits at the end. I hope you have learnt from your mistake and others would have to see your mistake and an opportunity to learn and not skip learning because they want to make money from trading which can always backfire. I have started the trading from BINANACE app and I invest 1 k dollar at the start from spot while I had no teacher
i was in trainee at that time one day was will profit the other day was my loss day every month I invested in binance app from my salary
after investing these money would finish in just 4 to 6 days after that I again wait for my salary.
At the end in invested 6 k dollar at one time but there was a coin which has up from 0.92 to 14 dollars I bought this coin in 11 dollars and
unfortunately this coin dip to 2 dollars and I was see my loss in just 10 minutes.
My trading method I just sharing with you tell me where I done a mistake
1: invest in one coin also multiple coin
2: trading was at spot also futures
3.coin was buy from dip they again more dip
4.coin was sell from top they again go up
Kindly share your experience that I m doing a loss you are also a part of my problem so that I want to khow where I done mistake.
I HAVE JUST EXPAIN TO YOU MY JOURNEY OF TRADING THAT HOW I HAD LOST THESE DOLLARS.
I have started the trading from BINANACE app and I invest 1 k dollar at the start from spot while I had no teacher
i was in trainee at that time one day was will profit the other day was my loss day every month I invested in binance app from my salary
after investing these money would finish in just 4 to 6 days after that I again wait for my salary.
At the end in invested 6 k dollar at one time but there was a coin which has up from 0.92 to 14 dollars I bought this coin in 11 dollars and
unfortunately this coin dip to 2 dollars and I was see my loss in just 10 minutes.
My trading method I just sharing with you tell me where I done a mistake
1: invest in one coin also multiple coin
2: trading was at spot also futures
3.coin was buy from dip they again more dip
4.coin was sell from top they again go up
Kindly share your experience that I m doing a loss you are also a part of my problem so that I want to khow where I done mistake.
What worries me, besides the huge amount of money you have lost in a single year, is that you talk about your journey and how much money you have lost, but you do not talk at all about what you have done to become a better trader, it seems to me that you just read that you could make money by trading and then you just started doing it after watching a few youtube videos, if that is the case or at least I am close in my diagnosis then you need to stop trading and start learning before things get even worse for you. I have started the trading from BINANACE app and I invest 1 k dollar at the start from spot while I had no teacher
i was in trainee at that time one day was will profit the other day was my loss day every month I invested in binance app from my salary
after investing these money would finish in just 4 to 6 days after that I again wait for my salary.
At the end in invested 6 k dollar at one time but there was a coin which has up from 0.92 to 14 dollars I bought this coin in 11 dollars and
unfortunately this coin dip to 2 dollars and I was see my loss in just 10 minutes.
My trading method I just sharing with you tell me where I done a mistake
1: invest in one coin also multiple coin
2: trading was at spot also futures
3.coin was buy from dip they again more dip
4.coin was sell from top they again go up
Kindly share your experience that I m doing a loss you are also a part of my problem so that I want to khow where I done mistake.
Avoid trading on altcoins that appear to have pump and dump potential - they will obviously hurt you overnight. Even if you don't lose your coins - but the drop percentage is very scary. You may forget that you have to have a trading strategy before you do it - so this is a bad experience that could teach you something useful.
Now don't get out just because you lost money - hold your coin if they have good future potential. But consider increasing them by investing in the long term rather than day trading.
Now don't get out just because you lost money - hold your coin if they have good future potential. But consider increasing them by investing in the long term rather than day trading.
A problem here is you do not know how to trade but went ahead to trade. In not saying professional traders don't lose money too, but it's obvious you didn't learn.
I'd advise you to take a step back and learn how to trade. It doesn't mean you won't trade while learning but try to have a certain amount that you use to trade.
This money should not be a huge sum, just a small sum that you can use to practice your trading.
It's safer to stick to one coin but we can't always play it safe. All you have to do is know and understand the coin you're dealing with.
Don't be enticed by the hype of different coins, a lot of other coins as just shit.
I'd advise you to take a step back and learn how to trade. It doesn't mean you won't trade while learning but try to have a certain amount that you use to trade.
This money should not be a huge sum, just a small sum that you can use to practice your trading.
It's safer to stick to one coin but we can't always play it safe. All you have to do is know and understand the coin you're dealing with.
Don't be enticed by the hype of different coins, a lot of other coins as just shit.
Consider this an expensive life lesson. Nothing is a better teacher than experience.
Unfortunately, this is a very expensive lesson to the OP. If I were on his shoes, it wouldn't cost me $16K to know that I am making a mistake in trading hence costing my salary monthly just to be a lesson. Now you (hopefully) exactly know how to avoid losing money with altcoins. If you do trades without doing your research again, you will lose money just like that again. If you want to make money, study some fundamental and technical analysis. Read some finance books and get some college education if you can. (Not a must though) If you start your business, that’s better than anything. If you can manage your own business successfully, you will know how to make money safely. If you are young don’t worry, there still many years ahead of you. In the long run $16k means nothing.
@hugeblack is right, he lacks a strategy. For me $16K is a lot money, wish I could have that amount someday. I think what he is doing is that he is chasing his losses thinking he could revive his wallet in a day, but it turns out wrong. Keep in mind that trading is a waiting game and also a timing game, if you could have invested your time learning and researching about the coins you are investing if could have lessen your losses, or else you even make a profit out of it. Then wait for the perfect market, tho you can spot it but you can always have analysis and gain insight from the indicators. 
May I know what trading kinds do you use until loss $16k and based on your story got loss without few minutes after trading, I don't think happen with spot trading exactly there are not any coins price drop drastically in few minutes. First your fatal mistake is trading with hype coins have up and down in short term, its good for earning faster profit but need to use stop loss feature when trading with coins have faster movement up and down. For the future less risk, use stop loss when trading in spot or future and you can reinvesting when have been in lower price.
You have wrong timing when investing assets, during with your investment Bitcoin and altcoin on higher price around 2022 before going dump drastically.
You have wrong timing when investing assets, during with your investment Bitcoin and altcoin on higher price around 2022 before going dump drastically.
Trading isn't the best way to get profit and before you should trade, you are suppose to have learnt the fundamental mental analysis and technical analysis in trading so that you should know when to buy. You also didn't take your time to make research of which coin to buy and that was why you bought altcoin. Altcoins are used to scam people that is new into cryptocurrency and they don't have the knowledge that bitcoin is the only genuine cryptocurrency, or for greedy investors. Bitcoin is the only cryptocurrency that is worth investing in and don't ever think of trading but think of holding for a long time and how you can use to increase your bitcoin by accumulating through DCA.
Your first mistake was you bought coins worth 1k usd, without having any prior knowledge in trading. If you don’t have knowledge, then it’s important to educate yourself on trading first. Hard work and time gives you real money. If you don’t respect that and invest it like this, then you won’t be able to earn it back. You should have first learnt about trading, learn technical analysis and then learn how to research about particular coins. When you done this, then do trading with demo balance. Once you feel confident then only go for real money. Hope you recover your losses very soon.
You invested at the wrong time 2022, is still the bear market year til 2023. And you invest in altcoins that have already pumped high which it could just be waiting for investors to jump in and then it's all dumped in you.
But you are not the only one who made this mistake. Many of us have done this before thinking the bear market will not really last for years. Along the way, you also learned the crypto market has cycles and the Halving is your cue.
But you are not the only one who made this mistake. Many of us have done this before thinking the bear market will not really last for years. Along the way, you also learned the crypto market has cycles and the Halving is your cue.
My trading method I just sharing with you tell me where I done a mistake
1: invest in one coin also multiple coin
You diversify into shitcoins, it obviously makes you more FOMO.1: invest in one coin also multiple coin
Quote
2: trading was at spot also futures
You also trade in futures but the basis of your decisions relies on feelings to open a position.Quote
3.coin was buy from dip they again more dip
4.coin was sell from top they again go up
This relates to the first point. Buying on the dip and vice versa will be useless. 4.coin was sell from top they again go up
Because you chose to trade in altcoins without consideration based on good knowledge about trading. Trading is risky and there is a very high risk of losing if you don't have a strategy.
You will not lose money if you buy bitcoin for the amount of money that you say is a loss and hold it as an investment rather than trading.
You will not lose money if you buy bitcoin for the amount of money that you say is a loss and hold it as an investment rather than trading.
You are more daring to deposit thousands of dollars for trading while you have no strategy about patterns, charts, analysis and other trends and you do not use risk management properly so that more losses than profits in addition you learn with large capital.
Futures are more risky if you are not good at doing, spot trading is much safer although the loss will not be as big as in futures trading.
Maybe you are analyzing the wrong coin.
Same, you rush to sell and then after selling it goes up.
1: invest in one coin also multiple coin
2: trading was at spot also futures
3.coin was buy from dip they again more dip
4.coin was sell from top they again go up
There's nothing wrong with investing in coins if it's just Bitcoin you won't suffer any losses if you don't sell it.2: trading was at spot also futures
3.coin was buy from dip they again more dip
4.coin was sell from top they again go up
Futures are more risky if you are not good at doing, spot trading is much safer although the loss will not be as big as in futures trading.
Maybe you are analyzing the wrong coin.
Same, you rush to sell and then after selling it goes up.
The biggest mistake is probably lack of risk management and a proper working trading strategy that suits you. Yes in trading you are bound to make loses from point to point, but what are you doing to avoid blowing up your account in case a trade does not go your way?
Also, FOMO, Greedy (trading with emotions) is very dangerous. You are still relatively new in trading. Take your time to practice and learn. Use small amounts of funds to avoid losing money that you can not afford to lose. This can even affect your mental health.
Also, FOMO, Greedy (trading with emotions) is very dangerous. You are still relatively new in trading. Take your time to practice and learn. Use small amounts of funds to avoid losing money that you can not afford to lose. This can even affect your mental health.
Kindly share your experience that I m doing a loss you are also a part of my problem so that I want to khow where I done mistake.
sorry for the loss you experienced.First mistake, you clearly lack knowledge regarding investing, trading, or choosing assets. Actually, there is a lot you have to learn first before you just spend your money. it is an expensive experience that you have to pay for with your ignorance.
Your next mistake is choosing the wrong asset you want to invest in. I don't know how you choose assets, but when you follow an asset that makes a pump, obviously it is very risky when you buy it at the top.
If you want to focus on investing, then choose Bitcoin. If you want to trade, then try to understand spot trading first.
I hope you will never have an experience like that again. Once again this is a valuable lesson. you've already paid a heavy price for a bad start. but as you learn more, hopefully you will become a good trader or investor in the future.
As you said you lost 16k dollars in 1 year. And then you come here to correct your mistake. I think it is a confiused word and an impossible story. Even if a person invests in Binance in a new state and loses the money invested in the first time, he will think a little bit about investing a second time. And then he will post it on a nearby person or here. But in your case it is completely opposite.Anyway, I don't know if what happened to you is true or false. If true then I would say you are too late to come here. When you're about to make the same mistake a second time, that time come here.
1: invest in one coin also multiple coin
2: trading was at spot also futures
3.coin was buy from dip they again more dip
4.coin was sell from top they again go up
Kindly share your experience that I m doing a loss you are also a part of my problem so that I want to khow where I done mistake.
2: trading was at spot also futures
3.coin was buy from dip they again more dip
4.coin was sell from top they again go up
Kindly share your experience that I m doing a loss you are also a part of my problem so that I want to khow where I done mistake.
That was your bad luck that you started from a bear market. This is a usual scenario in a bear market the price keeps crashing. Your first point is right that we should not put all our eggs in one basket. We should diversify our portfolio but this should be done in a sideways market. If your investment was only in bitcoin and if you really invested in a regular interval like you have said then your average would be much lower than bitcoin's ATH. This could have been a good investment even if your investment would have been 50% down because bitcoin is an asset and most of the altcoin is just securities 99% time if an altcoin performs well in a bull market then it doesn't in the next one.
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