I am doomed on trading - page 8. | Bitcointalksearch.org

xianbits

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Quote from: Tomiwa_akin on April 23, 2021, 08:56:28 AM

this is really not clear, losing money by just placing a buy order is not clear. did the token dump or you traded futures and lost it. you need to give more clear explanation so people will know what really happened. please dont trade if you dont have enough trading knowledge. you need to learn first before you earn.

Well, there are two possibilities.
1. She came across the futures trading in binance with a very little idea on what she was doing and "longed" a certain coin that eventually made all of her funds liquidated.
2. She bought a certain coin in spot but the price went even lower and she thinks she's doomed.

I hope she's only in number 2 so she can still have a chance of getting her 400$ back when the price goes up again. Too bad, she jumped into trading with desparation but without enough basic knowledge on what she is doing. I wished someone has told her before "to invest what she only can afford to lose".

Tomiwa_akin

jr. member

Activity: 78

Merit: 1

this is really not clear, losing money by just placing a buy order is not clear. did the token dump or you traded futures and lost it. you need to give more clear explanation so people will know what really happened. please dont trade if you dont have enough trading knowledge. you need to learn first before you earn.

goaldigger

sr. member

Activity: 2422

Merit: 357

Trading without knowledge is risky and you'll lose money, that's what happen to the money of OP.
You''re not doomed in trading, you just forget to study before you make trade but if you do your part analyzing the chart, then you can be good in trading. Beside, don't depend too much on trading for your daily expenses because you can't make money always in trading most of the traders are losing money almost everyday, so better to look for other source of income and before you trade again, start learning first.

electronicash

legendary

Activity: 3178

Merit: 1054

having an investment is good because you have something to look forward to. but don't trade if you didn't learn it yet.

if you have to invest your $400, make sure you have something else that could make you survive and support your daily needs. a job will be a good help for you because you are raising a kid which you have more pressure to handle. you need to be a friend to your kid while you have to work as well. start by finding a job whether online or not. i would recommend online though because that will make you available to your kid every time.

Taskford

hero member

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Quote from: Kasabus on April 23, 2021, 02:40:12 AM

Remember that trading isn't for everyone and you think it wrongly into relying the future of your son and yours in trading which I'd find that you are headed to a big troubles. If you have start in trading too early when the market isn't in the bullish season. it looks like it works great and profitable. But somehow, you are entering during the hypes and it makes difficult for the price to even grow more , instead of a chance to dump and causes you to become hopeless.

Yeah it isn't for everyone if they are not willing to learn and just rely on signals given by experience traders but id they are eager to learn some strategies which can help on their trades for sure they will know how technical it is and know how to counter the marker if there's fast changes happening on it.

And those newbies who enter the scene right now are been burn as the marker is still at bearish state maybe they should wait more if they want to take their position since looks like we can see more dumps in next 24 hours.

Kittygalore

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You didn't have to go full on trading a lot of money just to learn how to trade, there are paper trading out there that can help you experience trading while not making any real losses. I can't help you regarding money since I am broke as well but my advice to you is that you shouldn't do trading if you can just hodl bitcoin.

so98nn

hero member

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As of now everyone is in the dip and baffled by the crypto currency dump so you done nothing wrong. I would not suggest you to invest you more money into crypto at this point but for a big investor this is a great opportunity to enter. The whole thing is turned down due to legit reason of China electricity failure.

So for you, please hold whatever you have right now and don’t panic sell. Everything has proper timing and currently we should be in silent mode. No Huss and fuss in the trading if you are not experienced one.

Moreover, you can always use binance lite version which is way to easy to use.

Kasabus

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Activity: 2814

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Remember that trading isn't for everyone and you think it wrongly into relying the future of your son and yours in trading which I'd find that you are headed to a big troubles. If you have start in trading too early when the market isn't in the bullish season. it looks like it works great and profitable. But somehow, you are entering during the hypes and it makes difficult for the price to even grow more , instead of a chance to dump and causes you to become hopeless.

NeverSop

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Activity: 518

Merit: 11

HODL

Quote from: Alisha-k on April 22, 2021, 08:47:48 AM

After purchasing my first coin on binance. I had over $400 worth of Bitcoin. Been a single mother of one promising child I decided to trade my coin so as to afford to feed my family without touching the $400 I have been able to save over the years. Everything went smooth not until I decided to place a buy order. I have never traded before this happens to be my first experience and it turned against me. How do I cope with this and how do I feed my son?

I haven't spent enough time with binance app. I was trying to study the app when I came across the trading aspect of binance app and been so desperate to start earning so I can feed my son I had to take the risk. Currently I am doomed and I don't have a job to fall back to. I do I explain to my baby I have lost our hope of survival.

I wish I can upload my binance screenshot on the forum for proof currently I'm helpless and I need full assistance at this point. I am sorry if I am not supposed to post this on this forum. But I just have to device an alternate means to cover up my lapses before things get out of hands and beyond what I can afford to control. I wish I can get help or suggestions on how to go about this considering the fact I have gone hopeless

Unfortunately, it is clear that for $ 400 you have spent a lot of effort and time in trading towards raising your son. That makes toii believe that you are a very responsible person for motherhood. I am not a follower of trading, I have a job with me. the time I devoted myself to learning how to invest is right and wrong! I hope you live again, also remember, your son will also be the most valuable asset! Cry

Xinarae*

sr. member

Activity: 1414

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In fact as easy as it is to do business in crypto if you don't know anything about crypto everything will start to decline. The way you start your business has the potential to be risky, so you need to set your mindset and understand the market strategies entrepreneurs need to look at their own capital before making a decision and it is not so easy to set up a small business and work on it until it is profitable. In order for a business to reach a profitable position time money focus must be fully applied if there is a risk in trading it is better to keep the risk low here.

maxreish

sr. member

Activity: 1330

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Seems you did put all your money into Binance trading. I just hope before you did that buy options, you should stop for a while and think that you dont have any backgrounds in trading.

Putting $400 and all your savings in crypto exchange wasnt a good idea. Because you aim to feed your son from that money and crypto trading wasnt that easy as you think it is.
What solution will you gonna do? Find a sideline job, restart with your left money in Binance and just hold it until bitcoin recovers.

awik p

full member

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Pepemo.vip

the world of trading can sometimes be said to be cruel without mercy. but I think the main thing in this position, is humans who are obsessed with the success of other people and want to get money quickly. therefore, first learning about crypto is needed. and for now, I think you better cut loss. because I see your psychology is not yet established, and learn first with your free money, so that psychological pressure can be suppressed

cryptoaddictchie

legendary

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Fully Regulated Crypto Casino

I pity OP but somehow I feel the post isn't good or necessary isn't it? Cause the topic is something like begging or what. It's not right to risk your money into something you don't even sure if there is a clear future especially if you have a child depending on the decision you are making. It's not an easy goal to achieve a good trading skill just by learning the app. It's all about the whole market and not just the platform you gonna work on.

Sorry about if the money was lost maybe you just came at a wrong time since the price now is awfully high and needed some corrections.

Vaculin

hero member

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Winding down.

Quote from: Alisha-k on April 22, 2021, 08:47:48 AM

After purchasing my first coin on binance. I had over $400 worth of Bitcoin. Been a single mother of one promising child I decided to trade my coin so as to afford to feed my family without touching the $400 I have been able to save over the years. Everything went smooth not until I decided to place a buy order. I have never traded before this happens to be my first experience and it turned against me. How do I cope with this and how do I feed my son?

You've got in the wrong timing since Bitcoin prices went down. It was the risk that usually meant to happen any time that is how important it to analyze the market first and not to buy coin/s that are already in the hypes as it was more prone to dump.
Yeah, it feels bad but that is how the life of a trader. What I could suggest to you is to hold it for a while, who knows if Bitcoin will rallying back high again after this correction. If ever it won't get back high, your option is to either HOLD or SELL it at loss.

death69

hero member

Activity: 1204

Merit: 545

What coin do you buy? If it is bitcoin, you can hold it

I have few advices for you. First, you have to accept the true that not your trade order can go against you. It is not too bad because waiting is one of the best way for your coin to recover back to the entry point. Second, do not invest if you can't afford to lose. Admitting that you will have a possibility to lose your money in trading. Third, knowledge is the key element making a successful trader. Learn before investing. Do not rush.

I hope that you will soon recover your budget. Bitcoin momentum is still very strong IMO so do not worry much

mindrust

legendary

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Quote from: Alisha-k on April 22, 2021, 08:47:48 AM

After purchasing my first coin on binance. I had over $400 worth of Bitcoin. Been a single mother of one promising child I decided to trade my coin so as to afford to feed my family without touching the $400 I have been able to save over the years. Everything went smooth not until I decided to place a buy order. I have never traded before this happens to be my first experience and it turned against me. How do I cope with this and how do I feed my son?

I haven't spent enough time with binance app. I was trying to study the app when I came across the trading aspect of binance app and been so desperate to start earning so I can feed my son I had to take the risk. Currently I am doomed and I don't have a job to fall back to. I do I explain to my baby I have lost our hope of survival.

I wish I can upload my binance screenshot on the forum for proof currently I'm helpless and I need full assistance at this point. I am sorry if I am not supposed to post this on this forum. But I just have to device an alternate means to cover up my lapses before things get out of hands and beyond what I can afford to control. I wish I can get help or suggestions on how to go about this considering the fact I have gone hopeless

This crypto trading investing and shit isn't for the people who live pay check to pay check if you ask me. Only deal with crypto (and any other investment) if you can afford to save any money. If you can save $100 every month, fine you can do whatever you want with it. If you can't, then it means you have other priorities.

Find another way to increase your monthly income before you play the crypto game. Trading can be a job too but those who make money from trading and investing are usually already rich and they can sustain themselves for many decades without working anymore.

agustina2

legendary

Activity: 2436

Merit: 1008

How did you lose it all? Binance futures or Binance Spot?

If it's Spot, then why you sold right away if the value is already losing? Sometimes, you don't need to Stop-Loss if the coin you pick always reached your buying price, just hold! You are in crypto for years so you should understand by now that hold is already part of the trading. Patience and just be calm. Should served that as a lesson. The lose now happened and no choice but to accept it. It's not the end of the day. Move on! $400 is not an amount that will change your view towards life.

Freddy11

jr. member

Activity: 391

Merit: 1

There is nothing but to move on. If you genuinely faced this issue then nothing but to move on. Life is all about failures, mistakes and regret. Yet is it must to look beyond and enjoy the show, its not going to last forever.

Mahanton

hero member

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Quote from: MrcMrc on April 22, 2021, 09:42:05 AM

First begging is not allowed in this forum and secondly don’t be desperate in trading avoid attaching emotions to trading as it leads to a bad trading decision.
Why should you use your last savings for trading knowing fully well you have a baby to Carter for?
You should have sort for experienced trader advice before jumping into trading.

When someone do make out some story and some sort of asking for some support then i do really have these kind of impressions about begging but lets tell that op isnt really aiming for that one
but just focusing on how she would able to resolved this problem.Lets say he had made out some mistake on that buy order then its not really a total loss.She might able to buy something
on expensive but doesnt mean that you had lost out everything.@OP, what coin you had bought? At least put up some more information so that people on the community wont
boggled up or not having those questions.Also, dont risk out the amount that you cant afford to lose, dont risk up life savings or some sort.

livingfree

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Is that the life savings that you've mistakenly put into the trade? you shouldn't be discouraged in life because you're still alive and there are other ways for you to feed your child.

Don't trade after that experience.

And instead of trading, you should hold if you ever have some cryptos remaining.

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