It's why beginners are always encouraged to use money they can afford to lose for trade. Nobody ever said trading is easy or one will only open winning positions throughout their "trading career". People who trade their saving are the ones who end up getting depressed after losing the money to bad trades.
It's always a bumpy road especially at the beginning until someone learns from their mistakes and with practice, they perfect their strategy.
Mastering risk management is probably the biggest factor
Topic: Do you run when you fail or loose in a trade? - page 12. (Read 1760 times)
why should you run? it will only lead to even greater failure. I myself prefer to study my failures. for beginners there is still a lot of knowledge that must be learned when it fails, find out where the mistakes in real trading are and will find points of error and can be corrected to be success in the future
Funnily enough, the experience of amateur traders with little to no experience and who immediately went with big deposits are almost no different than the experiences of people who lost a fortune in gambling. Wanting to get-rich-quick is a bch.
Them newbies thought they could probably become like the early adopters of bitcoin, they thought that with trading they might make a lot of money but in reality, it is not the case. Any promise of a get rich quick is a trick pulled by other people so they can make more money out of the gullible ones. 
Funnily enough, the experience of amateur traders with little to no experience and who immediately went with big deposits are almost no different than the experiences of people who lost a fortune in gambling. Wanting to get-rich-quick is a bch.
I met someone who spoke bitterly against cryptotrading, he spoke of how he had a fortune in his trading account that disappeared completely in one night, he spoke of how he fell into depression and sickness soon followed because of overthinking of how to pick up and get back up on his feet financially. Now he is a strong advocate against anything trading crypto, how sad and dissapointing.
That he finds himself not suitable for trading. This is for those who have belief and trust on crypto, not those doubtful individuals just like your friend.Quote
"How many persons loose in a trade, and then go back to find out why they lost, and the mistakes they made?"
Risk management is normally the issue in this circumstance. If you've got a good trading strategy and a good chance of winning in trades (>50% normally but preferably >70%) then that's what it'll be.
Most people seem to mitigate this by offering signals either directly to someone or on a group.
If you want to trade, don't risk more than 5% of your portfolio on a trade, and try not to make hops that can scare you (eg set up a trade late at night if you've just deposited so you won't check how it's doing while you're asleep).
Most people seem to mitigate this by offering signals either directly to someone or on a group.
If you want to trade, don't risk more than 5% of your portfolio on a trade, and try not to make hops that can scare you (eg set up a trade late at night if you've just deposited so you won't check how it's doing while you're asleep).
I met someone who spoke bitterly against cryptotrading, he spoke of how he had a fortune in his trading account that disappeared completely in one night, he spoke of how he fell into depression and sickness soon followed because of overthinking of how to pick up and get back up on his feet financially. Now he is a strong advocate against anything trading crypto, how sad and dissapointing.
I didn't want to go through the rigor of trying to preach the message of crypto and share my testimonials from my little successful trades because our meeting was short lived as we were in transit, but the big question that i kept asking myself afterwards was -
"How many persons loose in a trade, and then go back to find out why they lost, and the mistakes they made?"
(I am bringing this topic here to point out amd encourage everyone that needs encouragement, that it is always best to find out the reason behind every loss we make in trading. It might not be easy, but try not to fall into depression suddenly, go back and find out the excesses and mistakes in your analysis in preparation for the BIG WIN, it is not easy, but you can do it)
I didn't want to go through the rigor of trying to preach the message of crypto and share my testimonials from my little successful trades because our meeting was short lived as we were in transit, but the big question that i kept asking myself afterwards was -
"How many persons loose in a trade, and then go back to find out why they lost, and the mistakes they made?"
(I am bringing this topic here to point out amd encourage everyone that needs encouragement, that it is always best to find out the reason behind every loss we make in trading. It might not be easy, but try not to fall into depression suddenly, go back and find out the excesses and mistakes in your analysis in preparation for the BIG WIN, it is not easy, but you can do it)
Jump to: