Topic: do not give up keep trading! - page 3. (Read 769 times)

Due to the high volatility of cryptocurrency and bitcoin, it is really a risky to trade without any knowledge and experience. In fact, even you have those criteria, you can't guarantee that you will take profits in this market. But then, it is advisable for those starters to read and watch tutorials in trading.

Another is that, we must trade the money that is excess in our monthly budget. If we cannot sustain our daily lives, probably we will sell our hodl coins even it is not yet gaining profits.

Skills need to be learn here in order to maximize our profits. Yes, we all know that trading is risky business, heck, we heard so many members you have lost tons of money, it is really hard to be a trader here and not loss along the way. Crypto market is one of a kind, others even compare it to gambling because of the risk.

To the OP, it might be a good idea to just take it slow and look at your trading strategy and improve it. Chasing you lose might bring more pain in the end.

Not all has a success stories in real trading. There were times that I lose all even my capital in trading but that makes us to become a better trader. Losses teaches us what to do next, it doesn't necessarily mean that we give up.  Sometimes we just need some break, gain more and more knowledge and tools to be ready again for the risks that trading may give.

Yes, you are right. But we can prevent the risk by learning more about trading, so we know how to pick the coins, and we can know when we can enter the market. Yes, it will need time before we can make ourselves familiar with the market movements, and only with learning, we can find the time to trade. The possibilities to recover losses will always be there as long as we don't give up to keep trading. But we always need to be careful, and always analyze the market.

If we can do that, we can recover the losses slowly, and we can make a profit too. But that will need time, once again, and it will not be instant unless the market gets the pump so the price can increase so high.

Right, it's not for the faint of heart, just imagine seeing a huge price swing, if you are not that mentally tough to see losses in your portfolio and would rather push the sell button because you are afraid of losing your capital, then crypto investing or trading is not for you.


Perhaps they are just resetting, for sure they didn't gave up, but probably just looking at how they lost and would go back and with the experience they gain, this time, it will be different.

Dropping of prices is normal and this is part of the market because if there is no fall then who will make profit?


If you are a true trader,then there is no way that you will eve panic because you know that panicking will never bring you goodness in trading.


this is not what we need to have if we want to trade,because Being a bread and Butter you must know that we should trade at least 2-3 coins each time to make at least assurance to gain.


But all and all?Trading is only for those who has Good knowledge and skills,and also with good instincts,if you missed one of these?then don;'t push to become a trader.

We should also consider that cryptocurrency trading is not for everyone.
We all know that trading is extremely risky, crypto, or non-crypto and it takes time and needs time especially if you are a daily trader or whatever.
Also, the more we chase our losses, the more possibilities that we will also lose again.

I know some of the crypto traders in our local that already stopped to trade because they already lost a lot. Well, I don't think if they already gave up? Maybe they are just taking a break.

What happen to the old adage: Invest what you can afford to lose?

If you understand that then you don't need to panic when you see your portfolio going down. The problem lies in people who think that crypto is a one way get rich quick scheme. They invested their money and thinking that it will grow literally when they are sleeping.

No, it's not, but if you just invested just enough money and follow the golden rule, you won't be impacted emotionally when the price goes down, you won't struggle, you don't have to think where to get money to bring food in the table for your family. We also need to understand Investing vs Gambling, or Investing vs Saving. Crypto trading is like a journey, there will be bumps along the way, there are losses, frustrations, it's really up to you how you manage and mitigate the risk.

Riiight.

That's the sort of thing someone tells their wife as he yanks her clothes off to pawn them, and that's after selling the cardboard she was sleeping on.

If you're crap at it and consistently crap at it then that's the universe trying to tell you something. Some people aren't fated to make a go of it. You should be carefully managing your risk so this isn't an issue in the first place.

And no one should be trading with everything. If you retain 80% or more of your funds that are never touched then your trading losses will sting but they won't finish you off or drive you to total ruin.

There are a big conspiracy theories about the losing the game without making first step but everyone has a different trading lifestyle stories. Taking one step back will be helpful and will not harm trader who has always been patient stone on the major decisions. The rest will always give back the made profits back to the market participants who will be more patiently.

Well, the more you push through the more it will get worse if you don't have patient in trading. Because in trading there is no easy way of making money.
Dont think too much in quickly recovering your losses because you perhaps become greed if you do that. Correct timing and speculation will make your trading survive even how market is bad. Apply all analysis you had and combine them at once, it is better if you had a lot of sources in making analysis because it gives near to accurate result of the market price speculation. Indeed, it is not good to chase losses, just trade what you can afford to lose and accept the fact if you lose.

Many people say that trading is one of the easiest things we could do to make money just having a good prediction even this is quite right still trading is one of the hardest things to do because if you make a single mistake all of your funds will be done immediately so better make a good analysis on it. Some of the trader deep dive into the world of trading does not have enough knowledge and skills which is not quite good because it may cause of having bad decisions if you want to make more earn profit you just need to have a piece of essential knowledge and make a trade some of the people allowed their user or quest on their platform to make a practice on real-time trading which is good because they can now get the same experience on losing and winning their trade. If you win that was good news if you lose it is just okay it is part of the challenge in trading. It is better to make a lot of analysis of what is your mistake on your trade so you keep a lot of ideas to avoid and encounter this kind of problem again. If you think you have bad trades take a break and make another trade don't make a trade when you are phsycailly, emotional, and mentally not stable it can cause too much loss on you. If you think you really love trading go ahead but keep in mind you must have profit not full of losses.

This part of your word is not good for a trader that wants to succeed because losses are always there if you are pursuing to recover losses, it means you are risking your account to be wiped out. The best advise on this is to see losses as part of the business. Always move on when you lose a trade. Make another order as new trade and not to think of it as pursuing to recover.

Dont chase up losses just like that kind of mindset when you are gambling.Trading might be different in terms of technicalities but the essence of behavior of a certain user or the one who do engage then its just similar.
Always put up into your mind that you shouldnt really spend the money that you cant afford to lose. We know on how risky and volatile the market is thats why tendency on holding for long would be there because its
always been unpredictable.In this case then you can make average down movements to compensate or fill up into those loss by buying on the bottom gradually.Yes, if you do have the money to spend on then this
would be the best thing to do rather than waiting up like forever.Its risky but a worthy thing to try on because if not then you do just stress out yourself waiting for the price to recover before you can sell off your coins.

When you say all this i hope you have the difference of hodling and active day trading in mind, if you are hodling for long then it is fine you will definitely recover over time if you are holding good coins while in day trading if any trade goes wrong or your predicted scenario is not met it is better and wise to take the loss and look for another trade setup because if you keep such positions open you can get trapped and your loss can grow in days and it does not goes with the concept of active day trading as well.

When disappointments and losses acumulate it seems da to quit trading is only solution. Then needs to.be assesed is that just bad period when we made too many bad decisions and didn't have luck or the trading isn't for us n
I don't support idea to quit trading on the sign of very first failure but trading is very complex and demanding. If you can learn from your mistakes and get out stronger after your losses then you should keep trading. Otherwise, take your time and think if this is really for you or not.

I guess all the traders will make use of the remaining capital after facing losses. I mean no one will go for topping their capital up just after losses so that they will have same level of capital all the times for their trades. If you want to keep going to trade then you must be ready to trade with available capital. When you are good in technical analysis and good in decision making then you can get chances to recover losses from the immediate follow up trade itself.

Your level of capital never be a constraint when you are equipped with sufficient TA and FA knowledge. When you are good in all types of analysis then you never happen to wait for long. Same way, if losses occur then you can easily recover it. Take time to be an expert in analysis then keep trading will go all in your favor.

We are in the worse situation of our time because of coronavirus, try harder in trading and learn from your mistake. If you have done all these and still no success, you may have to reevaluate your skills and see opportunities besides trading. You could be successful by having an online business selling your own designed face mask or something. Just saying.

Nothing will help you out if you do not improve yourself from what you have done mistakenly in your previous trades.

I mean if simply continuing your trading without no significant improvement in your knowledge levels and in your other trading related skills levels, I think no one will help you. You may face another round of losses if you keep on trading without fixing yourself. When there are changes in your approaches then there can be the possibilities for different outcome from your trades.

For example, I kept trading by buying signal from one agency. They gave me continuous wrong signal and I stopped my trading but I keep watching their signal for the rest of days of their subscription. In those days also, their signals was not good but fortunately I did not trade as per their signals. For the next month I subscribed another signal providing house but this time I did not go for direct trading but I just started with them by watching their signal. I concluded there were more than 70% chances for profits from them and then I started my trading to recover losses which happened with a wrong signal company.

I just want to summarize few points from my own experience:
1. I also agree we must need to be optimistic but that does not mean we may repeat mistakes again and again.
2. Rushing toward recovering losses will not help.
3. In my scenario I bought signals. But that is the right way of trading. Generating own signal must be the right approach for sustaining success in trading.
4. Take a break always help. It is time for self-evaluating for NOT repeating the same mistake.

I hope that even though we as daily traders sometimes we lose because of our mistakes when the market price suddenly drops very deep and because we panic and sell some of the altcoins we have that we buy at high prices, or we can't hold it because of that maybe the reason we sell it for daily needs, but even though we still have some assets left, we have to trade with the remaining capital, and for example we have less money, we can buy bitcoin or altcoin at current prices, but even though it may take a long time to recover from our losses, we must not fall, we must remain optimistic and struggle to re-trade and recover our losses, because anything can happen to the price of crypto, and nothing is impossible for us to be able to recover our losses quickly.