A little sad story - page 3. | Bitcointalksearch.org

travwill

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Quote from: sayaya17 on April 14, 2021, 05:14:57 PM

It's not just you who have such sad stories, even me, and everyone here. We've all been through that
and I think mistakes are an experience to be better at trading and investing. It is not easy in crypto
trading but if you have experience, maybe we can avoid such mistakes not to reoccur.

A similar story has 90% of users on this forum. It's stories like these that teach us something. Personally, I believe that such stories exist only so that in the future you will not make mistakes that will cost you significantly more than the story you just wrote. In other words, such stories help us make significantly more money than those stories in which we are simply lucky.

Btcvilla

sr. member

Activity: 1078

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When we try to put short bitcoin going up but when we use long position bitcoin going down, but now is bitcoin trend positive with higher price and better to use with short position with your future trading, I think you use bigger lev and maximum until 50x and very risk but exactly your short position during bitcoin still have higher price this extremely risk.

Distinctin

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No dream is too big and no dreamer is too small

Quote from: Ridwan Fauzi on April 15, 2021, 06:01:58 PM

Becareful mate, seem like you don't know much about trading strategy especially technical analyst (that I think it is the main factor to get profit espcially in future market) since I see in your statement you just confused about your entry between long and or your position is already short.

Indeed, you just used the bonus feature from the exchange but when you already curious and interested to be a day trader you should learn the strategy first. This first time your trading activity will make you more curious and spend your own capital in the end.

At that situation, that is a dangerous momment. I have felt it, using bonus for trading and getting money and then spending money because I think trading is a good source for income but I didn't pay attention to important factors when starting to trade. I lost money than I got so I learned more and read everything about trading strategy.

That is likely how a trader ends badly when we don't have control of our emotions. I believe that OP has the knowledge about trading but because it was just bonus money, he never cares that much but rather to overspend like no worries if he loses or not. I also experience that also, it wasn't our hard-earned money and we can't desperately feel the losses if ever it happens. But it was normal to feel disappointed and think why I do that? Why I'm too careless? It is all a regretting ends.

Ridwan Fauzi

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Becareful mate, seem like you don't know much about trading strategy especially technical analyst (that I think it is the main factor to get profit espcially in future market) since I see in your statement you just confused about your entry between long and or your position is already short.

Indeed, you just used the bonus feature from the exchange but when you already curious and interested to be a day trader you should learn the strategy first. This first time your trading activity will make you more curious and spend your own capital in the end.

At that situation, that is a dangerous momment. I have felt it, using bonus for trading and getting money and then spending money because I think trading is a good source for income but I didn't pay attention to important factors when starting to trade. I lost money than I got so I learned more and read everything about trading strategy.

tippytoes

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Activity: 1988

Merit: 275

Quote from: tygeade on April 15, 2021, 02:03:53 AM

Quote from: goaldigger on April 14, 2021, 05:03:57 PM

Even its a free money, its still sad to lose it and I’d experience this thing before where I also got a free money and used it in my day trading activities.

But, it seems that OP took risk intensively to give leverage trading a try hence I assume for the case of OP, that was not much painful unlike how many of us are feeling right now. I understand this community because when we have come across many such losses then definitely we can feel how much frustrating when losing money in trading.

Quote from: goaldigger on April 14, 2021, 05:03:57 PM

We can always learn from this experience, we should predict the market more accurately and maybe look for alternatives aside from leveraging

Only when you are gaining experience, you'll become slowly a professional trader. Only for professional traders predicting the market direction accurately will be possible. Until we are becoming up to the state of professionals in trading, probably we must need to face painful losses unless we do not plan up for lower capital and no leverage.

It will not be his last experience in this trading life. As we don't know what will happen next, we are deemed to opt for choices that may not be favorable afterwards. But the longer that we are in trading, we will pick up some lessons here and there and we can apply it the next time we trade. However, don't expect that you will hit it perfectly. Because even expert traders can make mistakes. Just remember OP, that you are not alone in that kind of feeling.

fullhdpixel

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Activity: 2828

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Quote from: libert19 on April 12, 2021, 11:46:34 PM

So I got some bonus from bybit.

I longed btc at first with 50x leverage (you do that with 'free' money), but since it was on the rise for last few days, thought it will dip and closed the long, opened short.

Got liquidated soon after.

Had I not closed the long, I would be in several double digit thousands of dollars profit today.

Sorry about that, you’re not the only one that it has happened, it has happened to a lot of us that are here, there are times that we have made mistakes like this and ended up missing big opportunities that would have earned us a lot of money, and after all that we learnt our lessons and started to do what’s right to avoid that so that it doesn’t repeat again.

What you’re going to do now is to learn from what happened to you and learn to avoid this same kind of problem repeating itself in the future, know what to do to avoid it. If the problem here is that you’re doing day trading while you’re not good at it, then what you’re going to do is to take time and learn it switch long term.

tygeade

legendary

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Quote from: goaldigger on April 14, 2021, 05:03:57 PM

Even its a free money, its still sad to lose it and I’d experience this thing before where I also got a free money and used it in my day trading activities.

But, it seems that OP took risk intensively to give leverage trading a try hence I assume for the case of OP, that was not much painful unlike how many of us are feeling right now. I understand this community because when we have come across many such losses then definitely we can feel how much frustrating when losing money in trading.

Quote from: goaldigger on April 14, 2021, 05:03:57 PM

We can always learn from this experience, we should predict the market more accurately and maybe look for alternatives aside from leveraging

Only when you are gaining experience, you'll become slowly a professional trader. Only for professional traders predicting the market direction accurately will be possible. Until we are becoming up to the state of professionals in trading, probably we must need to face painful losses unless we do not plan up for lower capital and no leverage.

Yamifoud

hero member

Activity: 2828

Merit: 518

Quote from: sayaya17 on April 14, 2021, 05:14:57 PM

It's not just you who have such sad stories, even me, and everyone here. We've all been through that
and I think mistakes are an experience to be better at trading and investing. It is not easy in crypto
trading but if you have experience, maybe we can avoid such mistakes not to reoccur.

Depending on how we change our mindset after experiencing those mistakes. Believe me or not, but to find that some mistakes will happen again and again especially when we are emotional traders.

It might say that OP never minds it at first as it was just bonused money and it is not really a big loss on him. yep, it is in a different approach when we are using our hard work money to trade as we are totally careful.

sayaya17

sr. member

Activity: 1638

Merit: 255

It's not just you who have such sad stories, even me, and everyone here. We've all been through that
and I think mistakes are an experience to be better at trading and investing. It is not easy in crypto
trading but if you have experience, maybe we can avoid such mistakes not to reoccur.

goaldigger

sr. member

Activity: 2422

Merit: 357

Even its a free money, its still sad to lose it and I’d experience this thing before where I also got a free money and used it in my day trading activities.

We can always learn from this experience, we should predict the market more accurately and maybe look for alternatives aside from leveraging, this kind of sad story can improve you emotionally so the next time you trade, you can have more confidence.

SquallLeonhart

legendary

Activity: 2464

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Quote from: posi on April 14, 2021, 02:18:58 PM

Quote from: Scripture on April 13, 2021, 10:36:07 PM

That's fine, at least you don't lose your own money that could be more painful to watch.

It's still not fine though it will be painful if it was his own money but he ought to have make a fortune through the money if he went for long.

Yeah, even it was bonus, losing must be painful for anyone. Moreover, out of market tension, most people do forget whether it is hard earned money or free money hence when we losing it, the pain will be the same. I guess that out of all bad experiences, we must need to learn and remember those hard reasons which caused the loss and we must work on not repeating the same mistake for rest of life long.

This is how naive traders do turn as professional traders. When we are slowly learning something every day and keeping that in mind and making use of it time to time in the trading then we can easily become professional trader in very short period of time itself.

LUCKMCFLY

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Leading Crypto Sports Betting & Casino Platform

Quote from: libert19 on April 12, 2021, 11:46:34 PM

So I got some bonus from bybit.

I longed btc at first with 50x leverage (you do that with 'free' money), but since it was on the rise for last few days, thought it will dip and closed the long, opened short.

Got liquidated soon after.

Had I not closed the long, I would be in several double digit thousands of dollars profit today.

Rip

And how did you come to the conclusion of putting "Short" your position? did you have any intuition? I say this because intuitions are often successful, Jesse Livermore in his book "Memoirs of a Stockbroker" talks about intuitions that go against all odds and on several occasions it worked for him.

If now what you were expecting was a quick correction, were you assuming a bullish trap? Anyway, if it was "free money" it represented money, you have to give it the respective importance, the same in trading every day you learn, this is like a university career that prepares you to be more professional every time. The important thing is that you understood what your mistake was and that is a great teaching. Many enter trading gambling, and they are lucky and win, but they do not learn from their mistakes, there is no feedback, it is more difficult because they do not grow in knowledge, and the more they try to understand the market the more likely they will generate profits.

posi

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Quote from: Scripture on April 13, 2021, 10:36:07 PM

well that's how this market works and only those who'll take the risk will win.

That's not how the market works and the last time I checked it not those that can take the risk win but those that understand and study the market very well that win.

Quote from: Scripture on April 13, 2021, 10:36:07 PM

That's fine, at least you don't lose your own money that could be more painful to watch.

It's still not fine though it will be painful if it was his own money but he ought to have make a fortune through the money if he went for long.

Btcvilla

sr. member

Activity: 1078

Merit: 270

Quote from: libert19 on April 12, 2021, 11:46:34 PM

So I got some bonus from bybit.

I longed btc at first with 50x leverage (you do that with 'free' money), but since it was on the rise for last few days, thought it will dip and closed the long, opened short.

Got liquidated soon after.

Had I not closed the long, I would be in several double digit thousands of dollars profit today.

Rip

I am not believe with short bitcoin is good moment because after bitcoin correction last few weeks under $50,000 never I see bitcoin have lower price any more, better never try to put short trade for future with bitcoin, Best ideas if you keep hold with your long position and you know how much profit have you get if your position still long.

wxa7115

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Activity: 2814

Merit: 734

Bitcoin is GOD

Quote from: libert19 on April 12, 2021, 11:46:34 PM

So I got some bonus from bybit.

I longed btc at first with 50x leverage (you do that with 'free' money), but since it was on the rise for last few days, thought it will dip and closed the long, opened short.

Got liquidated soon after.

Had I not closed the long, I would be in several double digit thousands of dollars profit today.

Rip

I do not think that you are actually learning the right lesson out of this, it seems that you are mad because you shorted the market instead of keeping your long position open but that is not what caused your losses, the main reason for your losses was the huge leverage that you were using.

We must remember that the volatility in this market is very high already and that should be more than enough to produce the profits that you need, if you need even more profits than that then most likely the expectations that you have out of the market are wrong, so learn the right lesson out of this and never use leverage again.

ninkdwi

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regret always comes in the end, the point is you already have more than enough advantages. your story is experienced by almost all traders, so you are not alone. enough to make learning to think more in the long term.

repear7

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Need Bounty manager ? Contact @repear71

Yes that sad story. Don't regret it, That was past. Hope you present and upcoming days will be bright and lucky. I also face this same issue in binance future trade. So i understand your pain. I was lost my own money.

blckhawk

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Activity: 1554

Merit: 334

Quote from: libert19 on April 12, 2021, 11:46:34 PM

So I got some bonus from bybit.

I longed btc at first with 50x leverage (you do that with 'free' money), but since it was on the rise for last few days, thought it will dip and closed the long, opened short.

Got liquidated soon after.

Had I not closed the long, I would be in several double digit thousands of dollars profit today.

Rip

Yeah, it was really unfortunate indeed but no worries you may lose the money but you've gained experience and that is all matters. That money can be earned back or even more as long as you have experience and knowledge. That loss will serve as a lesson for you to not repeat the same mistake. You gotta move on besides, just like you have mentioned it just a bonus so it is not your total loss, imagine those people who actually lose their money that would have been more devastating. Anyway don't be swayed by it and just keep moving forward.

Saniati

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We know, Failure is the pillar of success.

Better luck next time. ❤

libert19

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Quote from: FanEagle on April 14, 2021, 08:39:46 AM

Quote from: libert19 on April 12, 2021, 11:46:34 PM

I longed btc at first with 50x leverage (you do that with 'free' money), but since it was on the rise for last few days, thought it will dip and closed the long, opened short.

Got liquidated soon after.

Had I not closed the long, I would be in several double digit thousands of dollars profit today.

What all I can say is, you totally forgot about technical analysis and who reacted based on nothing.

Yes, if you would have followed technical analysis then probably you might have done two things:
1. You might have put trailing stop-loss to move along with markets.
2. Never gone for shorting.

Indeed, 50x leverage must be a dangerous one even you are trading with free money. So, the final results of you are not really surprising me honestly.

Moreover, I am just curious on how you got eligible to avail bonus from bybit? Could you please share more info on that?

They have AMA's where participants get bonus split out, also had deposit bonuses, I don't remember exactly which bonus was that since this is thing of when BTC was $18k, I just decided to share it now.

I don't do trading at all, it was bonus so I just decided to fuck around.

Topic: A little sad story - page 3. (Read 686 times)