Futures Trading is not for everyone - page 2.

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Quote from: Outhue on July 29, 2022, 03:57:01 AM

If you are a crypto trader using spot I advice you should stick with it till you become a professional trader, just because you start futures and win three rounds of short or long buys doesn't mean you are officially a pro trader....

I thought I was a pro coming from spot trading, I used 300$ which I planned to use to DCA into a project but a man can dream, my first attempt was successful, which net me 50$ and the second was 100$, the third round was 40$ and I close the trade for the day...

On the second day I lost everything, I now officially accept that I am far from been a pro trader, at least that's what I thought ??.

I remember someone, it was last year when me and my friends started to try futures, at first it is very interesting and profitable but if you are very greedy you will max the leverage and sometimes makes it cross which I regret. I tried to use ONLY 10$, I instantly make it $350 after that I am very happy and that greed of me say to max my usdt and click 75x cross, in an instant all of my money was gone. Futures is not good for beginners I agree with that, it is not good for someone who has a short temper like me, it is very hard to control yourself if you can see that green pnl.

Well really this is something that is to attract attention, I am not capable of doing something like that, really my maximum leverage is x5 and I am very scared, I think that a person who does this is because he must have apart from knowledge a lot experience, because as you say, in seconds you can lose everything, I do long-term trading and that is something that gives me time to be able to place and remove my orders, it gives me some slack to do so, and yet sometimes I lose because of what I decided not to operate until I see clarity in the operations, actually what I could do right now is copy trading, because I really have no idea what could happen in the market.

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Quote from: Mpamaegbu on August 08, 2022, 03:14:10 AM

Quote from: Outhue on July 29, 2022, 03:57:01 AM

I now officially accept that I am far from been a pro trader, at least that's what I thought 🤔.

Don't beat yourself that hard. Your problem was that you got carried away by the victory of the previous day. I guess that made you risked more than you could carry because you felt it would net you more profit. I believe in that axiom of slowly winning a race. Don't be in haste to hit a jackpot. Take it slowly. Now that this setback has happened, you shouldn't run away from futures trading because of that. All you've to do is correct the error that led to your loss. Stick to a trading plan and maintain money and trading discipline. Netting even $100 daily is a huge achievement, even when it's on a $5k account. You did more than that on a mere $300. Don't try to over stretch your expectations next time.

I agree, there are many people who end up making a good little success and live with that until they lose it all. The idea of making a profit once gives people confidence that they can't find anywhere else and this causes them to work harder to make that happen again. It is not going to happen because we are talking about a big fail, and if we end up with a big fail then how could we end up with a good profit later on?

We will lose our confidence because of that fail. So do not make the wins give you overconfidence but do not let the losses cause you to lose your confidence neither. Make sure that you are in just the right spot and not get affected by any of the results.

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Quote from: Outhue on July 29, 2022, 03:57:01 AM

I now officially accept that I am far from been a pro trader, at least that's what I thought 🤔.

Don't beat yourself that hard. Your problem was that you got carried away by the victory of the previous day. I guess that made you risked more than you could carry because you felt it would net you more profit. I believe in that axiom of slowly winning a race. Don't be in haste to hit a jackpot. Take it slowly. Now that this setback has happened, you shouldn't run away from futures trading because of that. All you've to do is correct the error that led to your loss. Stick to a trading plan and maintain money and trading discipline. Netting even $100 daily is a huge achievement, even when it's on a $5k account. You did more than that on a mere $300. Don't try to over stretch your expectations next time.

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Quote from: arwin100 on August 05, 2022, 09:09:00 AM

Quote from: Hypnosis00 on August 05, 2022, 08:07:45 AM

Quote from: |MINER| on August 05, 2022, 02:45:17 AM

Not only future trading it's also clear that trading is also not for everyone When the person goes into trading with little knowledge. There is no saying that little knowledge is dangerous. There's one more reason that is greedyness. Many times people get greedy and face huge losses by trading in the wrong place. And future trading is more likely gambling and it's kind of difficult from spot. So I think every benigner should start with spot don't go future at first Otherwise you will be also face the same .

I tend to agree. And it was wrong to underestimate trading and just think it was easy because many had failed and left after losing a lot.
If we are already confident in spot trading and already earning some, we better stay there and consider this the right place for us. Maybe we can try future trading as we already have some experience and also to know which is better. But for beginners, this is a wrong decision and just encourages them to go first spot trading.

Some people think that its easy to do buy and sell since this is what other experience people portray about how they can earn huge money on their trades. But reality hit them hard because for sure they find trading is a hard path to take especially when market is on bear market condition which other people sentiments can contribute for peoples reaction to get panic and take wrong decisions.

Yes there are many people who think future trading is very simple and easy.They lose all their money while editing future trading thinking it is simple and easy I myself have seen many people who have nothing or no knowledge about trading in their head have also traded in this future trading.I saw them lose their money before my eyes.Futures trading is one type of trading where you can never trade without experience.You need to be a good trader to trade futures. Must have market analysis skills. And with all coins always be engaged in analysis but you can survive by trading futures.

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indeed futures trading is not for someone who has just played in cryptocurrencies,
because the risk is too big I would suggest not trading futures, if you are being shown off by people, just ignore it,
learn to trade on the spot, if you always get a profit then that is up to you.

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I don't blame you and your losses on future trading, but I am grateful that you did learn a lot from those mistakes. Futures trading is interesting because some people with great luck can make big profit, but the risks are huge when you don't know what to do when reality is not what you expected.

I have said several times that I am not very into trading despite the features it offers. Investment is a safe choice when we don't want to gamble expecting high leverage luck.

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yes futures trading is not for everyone!,
because futures trading is only for people who have the skill to read the technical analysis,
and it is also still very risky because prices are much more volatile, for those who still can't have that skill,
my advice is not to be in futures trading, better on the spot market.

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Quote from: tygeade on August 07, 2022, 01:05:47 PM

Quote from: arwin100 on August 05, 2022, 09:09:00 AM

Some people think that its easy to do buy and sell since this is what other experience people portray about how they can earn huge money on their trades. But reality hit them hard because for sure they find trading is a hard path to take especially when market is on bear market condition which other people sentiments can contribute for peoples reaction to get panic and take wrong decisions.

The difference is that there are a thousand people that lost money or earned very little compared to just that one guy who earned a ton of money from a lucky trade, but at the end of the day when you open your social media accounts you will see that one guy that made a ton of profit and not the other thousand ones.

This is the problem, people do not realize that it is not going to be an easy task and they need to end up finding something that is a bit more relaxing in order to get used to, not a major one. If you aim at making 10x as your first investment then you are going to end up losing a lot of money but if you end up looking for 10% then you will do fine.

Even though people do see on that single person showing off his big profits in future trading then it does really give out that big or significant impact to those other thousand people which
they do really believe that they could really do it and they've been that too excited and ending up on trying it out until they do bust out theirselves into futures trading and realize
that it was never been easy thats why they would really be that careful in next time whether they would sustain on doing futures or would totally avoid it on next time and would rather
focus on spot trading first before touching futures which its a thing that a must because you cant really able to handle yourself to be good into futures if you dont have sufficient skill.

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Quote from: arwin100 on August 05, 2022, 09:09:00 AM

Some people think that its easy to do buy and sell since this is what other experience people portray about how they can earn huge money on their trades. But reality hit them hard because for sure they find trading is a hard path to take especially when market is on bear market condition which other people sentiments can contribute for peoples reaction to get panic and take wrong decisions.

The difference is that there are a thousand people that lost money or earned very little compared to just that one guy who earned a ton of money from a lucky trade, but at the end of the day when you open your social media accounts you will see that one guy that made a ton of profit and not the other thousand ones.

This is the problem, people do not realize that it is not going to be an easy task and they need to end up finding something that is a bit more relaxing in order to get used to, not a major one. If you aim at making 10x as your first investment then you are going to end up losing a lot of money but if you end up looking for 10% then you will do fine.

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Quote from: [email protected] on August 06, 2022, 07:26:55 AM

all trading in the crypto market I guess is risky. but in futures trading, I think the risk will be greater. It makes anyone who will trade futures know that they must be prepared to lose their money.
Futures trading requires better skills, not just guessing the direction of market movements and playing our luck. If so, it looks like gambling.

They need to know the risk because if they live on unrealistic thought that they might became rich with this then maybe we can see them losing at the end. But if they can't really hold up the market pressure then futures is not for them because sometimes emotion is our big enemy that's why it always recommended for newbie to stay on spot for a while and learn more skills there.

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all trading in the crypto market I guess is risky. but in futures trading, I think the risk will be greater. It makes anyone who will trade futures know that they must be prepared to lose their money.
Futures trading requires better skills, not just guessing the direction of market movements and playing our luck. If so, it looks like gambling.

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Quote from: wxa7115 on August 05, 2022, 06:00:03 PM

...It is because of this I am against using leverage because it goes against that rule and it can cause irreparable damage to your account, and the case of the OP is just one more example of this being the case.

If you allocate 1% of your deposit to the order, it does not matter whether you use leverage or not, you will not be able to lose more than 1%. Leverage will simply bring your liquidation closer in proportion to its size, if the price moves contrary to your expectations.

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Quote from: arwin100 on August 05, 2022, 09:09:00 AM

Quote from: Hypnosis00 on August 05, 2022, 08:07:45 AM

Quote from: |MINER| on August 05, 2022, 02:45:17 AM

Not only future trading it's also clear that trading is also not for everyone When the person goes into trading with little knowledge. There is no saying that little knowledge is dangerous. There's one more reason that is greedyness. Many times people get greedy and face huge losses by trading in the wrong place. And future trading is more likely gambling and it's kind of difficult from spot. So I think every benigner should start with spot don't go future at first Otherwise you will be also face the same .

I tend to agree. And it was wrong to underestimate trading and just think it was easy because many had failed and left after losing a lot.
If we are already confident in spot trading and already earning some, we better stay there and consider this the right place for us. Maybe we can try future trading as we already have some experience and also to know which is better. But for beginners, this is a wrong decision and just encourages them to go first spot trading.

Some people think that its easy to do buy and sell since this is what other experience people portray about how they can earn huge money on their trades. But reality hit them hard because for sure they find trading is a hard path to take especially when market is on bear market condition which other people sentiments can contribute for peoples reaction to get panic and take wrong decisions.

Learnings would always come in the end and not on the first thats why whenever you do touch up leverage or futures trading and having some profitable trades on first time then you would really be boosting up some self confidence and this is where you do forget to have that proper risk management until you do experience losses and being wrecked in the market and then you would soon
realize that this isnt something that could be handled easily or being effective or something that you could sustain for long term.

Futures is one of the hardest thing to be done aside from scalping or day trade.If you do know and be aware on how fast you could blow up your account or capital on this one
then you would definitely be having doubts in next time.

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Quote from: tvplus006 on August 05, 2022, 11:55:41 AM

Quote from: Outhue on July 29, 2022, 03:57:01 AM

...On the second day I lost everything, I now officially accept that I am far from been a pro trader, at least that's what I thought 🤔.

This definitely indicates that you have not adhered to risk management. It is obvious that you have opened your orders with a high leverage, which usually leads to the liquidation of the deposit. If you opened orders for 2-3% of your deposit and used a stop loss at the same time, your deposit would be partially lost, and not liquidated.

This is correct, on the books I have read about trading the experts suggest that at most only 1% of our capital should be at risk with each trade, this way no matter how many times you lose in a row your capital will not be at risk of a catastrophic loss and you can recover your money once things get better for you.

It is because of this I am against using leverage because it goes against that rule and it can cause irreparable damage to your account, and the case of the OP is just one more example of this being the case.

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Quote from: Outhue on July 29, 2022, 03:57:01 AM

...On the second day I lost everything, I now officially accept that I am far from been a pro trader, at least that's what I thought 🤔.

This definitely indicates that you have not adhered to risk management. It is obvious that you have opened your orders with a high leverage, which usually leads to the liquidation of the deposit. If you opened orders for 2-3% of your deposit and used a stop loss at the same time, your deposit would be partially lost, and not liquidated.

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Quote from: Hypnosis00 on August 05, 2022, 08:07:45 AM

Quote from: |MINER| on August 05, 2022, 02:45:17 AM

Not only future trading it's also clear that trading is also not for everyone When the person goes into trading with little knowledge. There is no saying that little knowledge is dangerous. There's one more reason that is greedyness. Many times people get greedy and face huge losses by trading in the wrong place. And future trading is more likely gambling and it's kind of difficult from spot. So I think every benigner should start with spot don't go future at first Otherwise you will be also face the same .

I tend to agree. And it was wrong to underestimate trading and just think it was easy because many had failed and left after losing a lot.
If we are already confident in spot trading and already earning some, we better stay there and consider this the right place for us. Maybe we can try future trading as we already have some experience and also to know which is better. But for beginners, this is a wrong decision and just encourages them to go first spot trading.

Some people think that its easy to do buy and sell since this is what other experience people portray about how they can earn huge money on their trades. But reality hit them hard because for sure they find trading is a hard path to take especially when market is on bear market condition which other people sentiments can contribute for peoples reaction to get panic and take wrong decisions.

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Quote from: |MINER| on August 05, 2022, 02:45:17 AM

Not only future trading it's also clear that trading is also not for everyone When the person goes into trading with little knowledge. There is no saying that little knowledge is dangerous. There's one more reason that is greedyness. Many times people get greedy and face huge losses by trading in the wrong place. And future trading is more likely gambling and it's kind of difficult from spot. So I think every benigner should start with spot don't go future at first Otherwise you will be also face the same .

I tend to agree. And it was wrong to underestimate trading and just think it was easy because many had failed and left after losing a lot.
If we are already confident in spot trading and already earning some, we better stay there and consider this the right place for us. Maybe we can try future trading as we already have some experience and also to know which is better. But for beginners, this is a wrong decision and just encourages them to go first spot trading.

|MINER|

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Not only future trading it's also clear that trading is also not for everyone When the person goes into trading with little knowledge. There is no saying that little knowledge is dangerous. There's one more reason that is greedyness. Many times people get greedy and face huge losses by trading in the wrong place. And future trading is more likely gambling and it's kind of difficult from spot. So I think every benigner should start with spot don't go future at first Otherwise you will be also face the same .

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Quote from: sana54210 on August 03, 2022, 12:48:43 PM

I do agree that futures is not for everyone, but it is certainly not impossible to handle neither. I do agree that there are a ton of people who turned their small amount of money into a huge amount of money because they had the courage to make a profit from the leverages. If you have a small amount, it is better to do leverage because it means you will act as if you have a lot, but if you lose even just a bit, you will lose it all.

So, the risk you are taking is huge, but the profit you would take is huge as well and you better have a decision about those two before you get in. If I make a ton of profit with a huge bull run then I may consider it.

Indeed, future trading is something complex and risky. we can say high risk but also high turn probability. This is suitable enough for high risk taker. but not only based on high risk taker, future trading needs good knowledge, analysis, and acceptance about the market situation. no easy ways of course. if we are new to this, we are better to do it. after we have learned and understand and also ready, we can start doing this by only very small amount to trade future.

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