I too have a bad experience with futures. Its nice and good profit till it goes according to your plan and it stays good in a sideways trend market. But when there are rapid highs and lows, you are doomed. You don't even hold the coins at last. Everything is lost.
If you believe in future of a specific coin, its better to buy them and hold and trade rather than go for futures, as if price go down, you have the coin to hold for selling at better price at later time and if it goes high, you have a profit on dollars. Maybe less so than in future but you are never in complete loss.
Topic: I lost +$ 20k in future, advice for newbies (Read 883 times)
this is an interesting story. However, you always start off on a good foot, but end up losing everything due to a greater desire.
However, from the start, we are not encouraged to use the money we use to live, especially if we borrow at the bank for that. Besides, you are taking too much risk, and not taking advantage of it. The most important thing in business is management. when you have made a profit, then immediately secure the capital you use. Well, even though it's simple, it's a difficult thing because we don't know when time should stop, and winning makes us blind. However, it is a very meaningful lesson for those who would do the same.
However, from the start, we are not encouraged to use the money we use to live, especially if we borrow at the bank for that. Besides, you are taking too much risk, and not taking advantage of it. The most important thing in business is management. when you have made a profit, then immediately secure the capital you use. Well, even though it's simple, it's a difficult thing because we don't know when time should stop, and winning makes us blind. However, it is a very meaningful lesson for those who would do the same.
I think this topic should fall under the Trading Discussion and the mod should move this as futures trading is under crypto trading.
Since the OP is a newbie, I assume that he is still new in navigating to this forum especially posting to appropriate sections.
Spot trading is less riskier than futures trading. Before getting into futures trading, you must self-learn first on how to master technical analysis in reading the charts, patterns, candlesticks and possible scenarios.
I know how it feels to lose that amount, but that is a lesson that you should learn and never forget. Learn to move forward and get better with your trading decisions.
Since the OP is a newbie, I assume that he is still new in navigating to this forum especially posting to appropriate sections.
Spot trading is less riskier than futures trading. Before getting into futures trading, you must self-learn first on how to master technical analysis in reading the charts, patterns, candlesticks and possible scenarios.
I know how it feels to lose that amount, but that is a lesson that you should learn and never forget. Learn to move forward and get better with your trading decisions.
Yes, but most likely the point of the OP is that he lost big time in future trading and this might not be the appropriate boards and I will agree, but what's important that he want's to get the message across this community and he wants to share his lessons here because it's very expensive as for the majority of us, $20k could he a huge some of money to us.
It's really hard to get over this kind of lost, even in gambling, it will take days before it sink it unless we have really deep pockets and that we can afford to gamble and lost the money. But it seems that it's not the case for the OP and the best thing to do is share his lessons to us.
I think this topic should fall under the Trading Discussion and the mod should move this as futures trading is under crypto trading.
Since the OP is a newbie, I assume that he is still new in navigating to this forum especially posting to appropriate sections.
Spot trading is less riskier than futures trading. Before getting into futures trading, you must self-learn first on how to master technical analysis in reading the charts, patterns, candlesticks and possible scenarios.
I know how it feels to lose that amount, but that is a lesson that you should learn and never forget. Learn to move forward and get better with your trading decisions.
Since the OP is a newbie, I assume that he is still new in navigating to this forum especially posting to appropriate sections.
Spot trading is less riskier than futures trading. Before getting into futures trading, you must self-learn first on how to master technical analysis in reading the charts, patterns, candlesticks and possible scenarios.
I know how it feels to lose that amount, but that is a lesson that you should learn and never forget. Learn to move forward and get better with your trading decisions.
People who think that they could do futures do not realize that one mistake doesn't just end up with you getting a lower amount, it means losing all of your bet. This is why it is more like gambling because in the end you have either zero, or a lot. Investment is normally not like that, in the investment world you put your money into something and you either get something decent with it, or you lose a bit with it but never really zero, unless you invested into a scam.
For example, if I invest into bitcoin right now, even the worst case scenario would be like 80% drop, but NEVER 100% all money gone. Trading on spot, or investing, all have drops but futures have 100% drops, which is dangerous.
Fearful or inexperienced traders should avoid futures and spot trading. You made the futures too simple. Futures contracts are risky due to their leverage, but comparing them to gambling is a mistake. A competent futures trader uses strategy, market analysis, and hedging. Gambling relies solely on luck. And the house always winFor example, if I invest into bitcoin right now, even the worst case scenario would be like 80% drop, but NEVER 100% all money gone. Trading on spot, or investing, all have drops but futures have 100% drops, which is dangerous.
Standard investments can lose value, so no one can be guaranteed. Consider all the stocks and corporations that have gone to zero. Thinking ordinary investments are risk-free is dangerous.
It seems unthinkable that Bitcoin's price will plummet to zero right now. Its naive to think spot trade or traditional investments never lose 100%. Both future and past investments carry hazards. Managing risk is more important than blind confidence.
Wow, yes, be very careful, bro.
Trading is very high risk! Price can go up or it can go down, nobody know. It's huge risk because trading is like gambling.
Better avoid it and only HODL.
I will be the crash of your party, but I have breaking news for you. Price goes up or down with HODL as well. Trading is very high risk! Price can go up or it can go down, nobody know. It's huge risk because trading is like gambling.
Better avoid it and only HODL.
-
Regards,
PrivacyG
People who think that they could do futures do not realize that one mistake doesn't just end up with you getting a lower amount, it means losing all of your bet. This is why it is more like gambling because in the end you have either zero, or a lot. Investment is normally not like that, in the investment world you put your money into something and you either get something decent with it, or you lose a bit with it but never really zero, unless you invested into a scam.
For example, if I invest into bitcoin right now, even the worst case scenario would be like 80% drop, but NEVER 100% all money gone. Trading on spot, or investing, all have drops but futures have 100% drops, which is dangerous.
For example, if I invest into bitcoin right now, even the worst case scenario would be like 80% drop, but NEVER 100% all money gone. Trading on spot, or investing, all have drops but futures have 100% drops, which is dangerous.
Hey guys.
First of all, i would like to thank all people here who are sharing informations and help other.
Secondly, i want to share my bad experience in crypto using future.
Before Starting in crypto, i have traded forex in 2016, starting with a capital of $ 500, i Lost it quickly then i have learned TA, after a few months, i came back and start again with $1k, Wich i turned into 5K in almost 15 days, but i Lost all again because I didn't respect rules and take more risk then i realized that forex isn't for me.
In the beginning of 2016 i started trading crypto but didn't know a lot of things about Blockchain, then lost again, because I didn't hold ( sold BTC and Ethereum at 2000, eth at 800 😂...
Since April 2021, when all people talk about crypto and when all is green 🍏 i started again in crypto but I didn't have a clear strategy because i have trading using the money that i barrow from the bank Wich i had to use to buy our house with my wife, then i Start to take money from the bank, 3k a week, then i traded spot but as i wanted to make profit quickly but that was the wrong...
Then i started trading future and after turning 5k into 11k I didn't take profit coz i was greedy lol
After I lost all the money i have Wich is +20 k, i was living in hard situation coz i didn't buy the house i had planned with my wife to buy and she was angry as she didn't understand all this, she think it's only like casino...
Now I'm paying the bank every month the money i have borrowed from them until 7 years ...
It was a good lesson for me that I won't never forget.
My advice for newbies :
PLEASE, DONT NEVER TRY FUTURE.
PLEASE, DONT NEVER USE THE MONEY THAT YOU NEED FOR YOUR LIVING.
PLEASE, DON'T NEVER TAKE The MONEY FROM THE BANK AND TARDE WITH IT.
At the end, i apologize if that's long, but i would just like to share this and i hope newbies like me take lesson from this.
Thank you guys.
First of all, i would like to thank all people here who are sharing informations and help other.
Secondly, i want to share my bad experience in crypto using future.
Before Starting in crypto, i have traded forex in 2016, starting with a capital of $ 500, i Lost it quickly then i have learned TA, after a few months, i came back and start again with $1k, Wich i turned into 5K in almost 15 days, but i Lost all again because I didn't respect rules and take more risk then i realized that forex isn't for me.
In the beginning of 2016 i started trading crypto but didn't know a lot of things about Blockchain, then lost again, because I didn't hold ( sold BTC and Ethereum at 2000, eth at 800 😂...
Since April 2021, when all people talk about crypto and when all is green 🍏 i started again in crypto but I didn't have a clear strategy because i have trading using the money that i barrow from the bank Wich i had to use to buy our house with my wife, then i Start to take money from the bank, 3k a week, then i traded spot but as i wanted to make profit quickly but that was the wrong...
Then i started trading future and after turning 5k into 11k I didn't take profit coz i was greedy lol
After I lost all the money i have Wich is +20 k, i was living in hard situation coz i didn't buy the house i had planned with my wife to buy and she was angry as she didn't understand all this, she think it's only like casino...
Now I'm paying the bank every month the money i have borrowed from them until 7 years ...
It was a good lesson for me that I won't never forget.
My advice for newbies :
PLEASE, DONT NEVER TRY FUTURE.
PLEASE, DONT NEVER USE THE MONEY THAT YOU NEED FOR YOUR LIVING.
PLEASE, DON'T NEVER TAKE The MONEY FROM THE BANK AND TARDE WITH IT.
At the end, i apologize if that's long, but i would just like to share this and i hope newbies like me take lesson from this.
Thank you guys.
This is a very hard experience you have to face. But, I am sure very valuable lessons were learnt.
For me, I don't even want to learn how to trade futures. I don't know how it works and I don't care because I don't have any intention of trading it. Matter of fact, I detest it.
Hey guys.
First of all, i would like to thank all people here who are sharing informations and help other.
Secondly, i want to share my bad experience in crypto using future.
Before Starting in crypto, i have traded forex in 2016, starting with a capital of $ 500, i Lost it quickly then i have learned TA, after a few months, i came back and start again with $1k, Wich i turned into 5K in almost 15 days, but i Lost all again because I didn't respect rules and take more risk then i realized that forex isn't for me.
In the beginning of 2016 i started trading crypto but didn't know a lot of things about Blockchain, then lost again, because I didn't hold ( sold BTC and Ethereum at 2000, eth at 800 😂...
Since April 2021, when all people talk about crypto and when all is green 🍏 i started again in crypto but I didn't have a clear strategy because i have trading using the money that i barrow from the bank Wich i had to use to buy our house with my wife, then i Start to take money from the bank, 3k a week, then i traded spot but as i wanted to make profit quickly but that was the wrong...
Then i started trading future and after turning 5k into 11k I didn't take profit coz i was greedy lol
After I lost all the money i have Wich is +20 k, i was living in hard situation coz i didn't buy the house i had planned with my wife to buy and she was angry as she didn't understand all this, she think it's only like casino...
Now I'm paying the bank every month the money i have borrowed from them until 7 years ...
It was a good lesson for me that I won't never forget.
My advice for newbies :
PLEASE, DONT NEVER TRY FUTURE.
PLEASE, DONT NEVER USE THE MONEY THAT YOU NEED FOR YOUR LIVING.
PLEASE, DON'T NEVER TAKE The MONEY FROM THE BANK AND TARDE WITH IT.
At the end, i apologize if that's long, but i would just like to share this and i hope newbies like me take lesson from this.
Thank you guys.
First of all, i would like to thank all people here who are sharing informations and help other.
Secondly, i want to share my bad experience in crypto using future.
Before Starting in crypto, i have traded forex in 2016, starting with a capital of $ 500, i Lost it quickly then i have learned TA, after a few months, i came back and start again with $1k, Wich i turned into 5K in almost 15 days, but i Lost all again because I didn't respect rules and take more risk then i realized that forex isn't for me.
In the beginning of 2016 i started trading crypto but didn't know a lot of things about Blockchain, then lost again, because I didn't hold ( sold BTC and Ethereum at 2000, eth at 800 😂...
Since April 2021, when all people talk about crypto and when all is green 🍏 i started again in crypto but I didn't have a clear strategy because i have trading using the money that i barrow from the bank Wich i had to use to buy our house with my wife, then i Start to take money from the bank, 3k a week, then i traded spot but as i wanted to make profit quickly but that was the wrong...
Then i started trading future and after turning 5k into 11k I didn't take profit coz i was greedy lol
After I lost all the money i have Wich is +20 k, i was living in hard situation coz i didn't buy the house i had planned with my wife to buy and she was angry as she didn't understand all this, she think it's only like casino...
Now I'm paying the bank every month the money i have borrowed from them until 7 years ...
It was a good lesson for me that I won't never forget.
My advice for newbies :
PLEASE, DONT NEVER TRY FUTURE.
PLEASE, DONT NEVER USE THE MONEY THAT YOU NEED FOR YOUR LIVING.
PLEASE, DON'T NEVER TAKE The MONEY FROM THE BANK AND TARDE WITH IT.
At the end, i apologize if that's long, but i would just like to share this and i hope newbies like me take lesson from this.
Thank you guys.
This is a very hard experience you have to face. But, I am sure very valuable lessons were learnt.
For me, I don't even want to learn how to trade futures. I don't know how it works and I don't care because I don't have any intention of trading it. Matter of fact, I detest it.
Hard lesson. I learnt it a long time ago. All my offline funds(I'm a physician) go into the family upkeep. I never use it for crypto. The money I use for crypto, whether farming or staking all came from crypto itself. I don't cross
There is nothing wrong with futures but when you go all in with high leverage then it ruins faster.
The risk is really high if you are dabbling with the future market especially in the cryptocurrency market simply because it is a highly volatile market and there is no benchmark to understand what causes major market movements and it is controlled by institutional investors, so i will not take that much risk in the future market but if you are lucky then the return is attractive as well. 
One thing was constant and that us making same mistake every time despite switching from forex to crypto. I believe you have identified it and lesson learnt the hard way. Don't take too much risk, don't borrow to invest or trade, be consistent with your trades and win more on average. There is nothing wrong with futures but when you go all in with high leverage then it ruins faster.
Hello guys,
First of all, i would like to thank all of u guys, i have read all your responses...
Anyway it was a big lesson for me but i won't give up and I'm planning to invest $350 every month in same good project and hold for long term this time.
Thank u again guys 🤗
First of all, i would like to thank all of u guys, i have read all your responses...
Anyway it was a big lesson for me but i won't give up and I'm planning to invest $350 every month in same good project and hold for long term this time.
Thank u again guys 🤗
I would suggest that this is not a great strategy either.
You should diversify and expand your reach as opposed to just DCAing into the same project regardless of what the fundamentals are. That is quite foolish.
Even if unlevered, pouring money like this into projects is never going to work out well. Yes, have a few blue chip projects that you consistently put money into, but also spread your risk out. I thought you'd have learnt through your futures failure.
Futures is actually a gamble.
Betting on futures is very risky as some traders newbie are not content to lev. 5x but they set higher for maximum profit, but unfortunately because market movements are unpredictable, it is possible to lose funds because there is no liquidity that can maintain margins. We must advise newbie traders to stop being greedy because futures will plunge into the loss zone and have a psychological effect on newbie traders.That's the best choice that they can do and stay with the spot so that they can learn their way until they can take the pressure and risk that futures have.
There are advantages and disadvantages with it and it's all on you on how to make yourself be versed with it.
Thats why it is very important to know when we should buy or sell our coin and not being too greedy.
Target to take profit should be defined to getting real profit in the future, as well target to stop the loss.
With that strategy, our loss shouldn't too much and our profit should more certain.
What you say is very precise so it is very necessary to implement it because stopping losses is very important for now and getting definite results is everyone's goal at this time so it is true as you say that targets for the future must be clear from now on. Target to take profit should be defined to getting real profit in the future, as well target to stop the loss.
With that strategy, our loss shouldn't too much and our profit should more certain.
Unfortunately, there are quite a few such stories, thanks to the author's frankness, futures are not for beginners, that's for sure, the worst thing is when a newcomer by a lucky chance makes several successful transactions on futures and gets into the taste, then the market usually eats such people, just think a few times, try on spot trading, if it fails to make certain conclusions.
Lucky are the beginners who could read testimonies like this because when I was a newbie in crypto, I didn't know the risk of future for beginners. I also lost huge funds on it which caused me confusion at first but later on taught me a lesson to study about how futures trading works. I failed and it was too late for me to realize that it wasn't for me. That was a terrifying experience but at least I've learned from it.
Thats why it is very important to know when we should buy or sell our coin and not being too greedy.
Target to take profit should be defined to getting real profit in the future, as well target to stop the loss.
With that strategy, our loss shouldn't too much and our profit should more certain.
Target to take profit should be defined to getting real profit in the future, as well target to stop the loss.
With that strategy, our loss shouldn't too much and our profit should more certain.
Unfortunately, there are quite a few such stories, thanks to the author's frankness, futures are not for beginners, that's for sure, the worst thing is when a newcomer by a lucky chance makes several successful transactions on futures and gets into the taste, then the market usually eats such people, just think a few times, try on spot trading, if it fails to make certain conclusions.
There is always a mandatory rules dont invest which you i afford to loose and other most important thing without knowing much dont try to trade on future trade its always a high risk trading platform and insted you can choose spot trading because its reliable than futurw trade and its always low risk and also choose binance for trade its also perfect for you!
I think the advice you have given is very suitable for everyone to consider because basically every decision must be based on the knowledge and direction of those who are experienced or from those who have tried it, because the Binance exchange now has a lot of features.And obviously it is very helpful for every user who wants to trade there.
The best advise for people "stay away from futures" is great advise. So little amount of people win on these bets. Crypto is too volatile and it's a 24/7 market. Things can change while you sleep and get margin called before you even wake up. Stack sats, hold and enjoy the ride is the way to go.
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