I lost +$ 20k in future, advice for newbies - page 2.

NicNacCoin

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Quote from: Afgan84 on February 20, 2022, 04:44:17 PM

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.

In fact, it is very difficult to say what happens in cryptocurrency. There are many people who have spent their entire lives in cryptocurrency and have done nothing for their own lives.Again, there are many people who have taken a lot of money from this cryptocurrency. I would say that if we have to work in cryptocurrency then of course we will convert our money as soon as we get it.I will not think about what will happen next. Cryptocurrencies have lost almost everything. I also lost but regretted myself.Now let's go with the target. As soon as I reach a certain target I convert all my coins into my money.

AnonBitCoiner

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Future is ofcourse very risky game and all user should escape future. One can make good profit in spot and staking with low risk. If you see dip the Staking rewards while buying during the dips and then as a bull market starts, begin moving to flexi save or spot and sell 10% of your holding every 10% you go up from the bottom.

If you leave your greed at the door this will make you insane profits, its also safe as a crash at any point will leave you with some cash ready to buy the dip. And repeat.

TheClownSong

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Quote from: livingfree on April 21, 2022, 08:08:50 PM

Futures is actually a gamble.

for traders that didnt applied trading rules such as money management and trading plan , it is true as a gambling. no matter how much money in our balance it could loss only in second.

Quote from: Mosharafhh on April 22, 2022, 04:23:30 AM

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!

future or spot have same technique to analisys, but before we are expert in spot better dont try in future because its very risky and easy to decrease our money.

Mosharafhh

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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!

BlackBaron

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Quote from: livingfree on April 21, 2022, 08:08:50 PM

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.

Jocuserious

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How did you start trading as a newbie because you have to practice for years to start new trader. Did you know that a successful trader has to practice for a few decades then he becomes a bit skilled. So if you start a business without realizing it, you will suffer and you will lose your money as a reflection.

tokyohd

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Pepemo.vip

Thanks for the nice advice. In fact, I am new to the world of trading. As I know, futures trade is more risky. I don't like futures trading because It is directly related to gambling...
There is an ancient saying -
"Greed is sin and sin is death"

livingfree

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Quote from: ardydyon on April 21, 2022, 09:41:09 AM

Guys, if you are a newbie in the crypto world, don't ever play trading in futures.
even if you can give 30,50, 100 times the profit you will get but with the consequence all your money is lost.
Never play futures if you don't master the concept of trading.
It is not recommended to gamble in playing futures because you will have the potential to lose money.
if you are a newbie you should just play on the spot. relatively safer although it is possible you can experience losses but you still have assets
in crypto even if the price drops and you lose.
Again NEVER PLAY FUTURE IF YOU DON'T UNDERSTAND THE CONCEPT OF TRADING WELL!!!!

Futures is actually a gamble.

Newbies think that it's okay to gamble with it and do it even without proper knowledge and training. I know people that do futures and they're good, they do it with a lot of pairs because they know how to do it.

They're also good in risk management, so their technique is low risk and high reward since it's future. They're taking that advantage on their own strategies.

Faisal2202

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Buddy may your soul get peace, and you are totally right, we should only invest that money in future which we can afford to lose, like if they all gone than their should be no effect of lossing money on our life, yeah i know there must be effects but not like yours. So i only trued to play safe for some time and now i totally left it and moved to spot trading,
If i have 1k$ like for savings than i could turn them into many on spot,
Thanks for your post

CaVO32

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Quote from: ardydyon on April 21, 2022, 09:41:09 AM

Guys, if you are a newbie in the crypto world, don't ever play trading in futures.
even if you can give 30,50, 100 times the profit you will get but with the consequence all your money is lost.
Never play futures if you don't master the concept of trading.
It is not recommended to gamble in playing futures because you will have the potential to lose money.
if you are a newbie you should just play on the spot. relatively safer although it is possible you can experience losses but you still have assets
in crypto even if the price drops and you lose.
Again NEVER PLAY FUTURE IF YOU DON'T UNDERSTAND THE CONCEPT OF TRADING WELL!!!!

I think this trading feature is where these exchanges are gaining a lot of profit. As I have read a lot of people getting liquidated by futures trading, you will ask, where will the money goes? Of course, it is in the trading platform itself. And I very well agree, if you are a newbie in trading, don't try futures. Better go for spot trading first. You can only explore futures if you already know what you are doing and know the high risks involve in this type of trading.

Lordhermes

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Alot of Traders have lost money in trading, it is as a result of their greed, wanting to have more instead of closing their trade, and secondly their carelessness. When involving yourself in trading, you need to master some essential qualities as a trader or as an investor, like how to avoid greed in trading. Trader need to be able to eliminate a greed mindset, these negative thought won't allow you enjoy profits in the space, as a trader you won't be opportune to have peace of mind in trading. Carelessness is also as a result of recalcitrant behavior of the trader. A trader can refused to check his trade, or can sleep without setting his TA( Take Profit) and SL (Stop Loss). All these are some basis you need to know how a newbie coming up.

ardydyon

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Guys, if you are a newbie in the crypto world, don't ever play trading in futures.
even if you can give 30,50, 100 times the profit you will get but with the consequence all your money is lost.
Never play futures if you don't master the concept of trading.
It is not recommended to gamble in playing futures because you will have the potential to lose money.
if you are a newbie you should just play on the spot. relatively safer although it is possible you can experience losses but you still have assets
in crypto even if the price drops and you lose.
Again NEVER PLAY FUTURE IF YOU DON'T UNDERSTAND THE CONCEPT OF TRADING WELL!!!!

Mpamaegbu

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Once a man, twice a child!

Quote from: Afgan84 on February 20, 2022, 04:44:17 PM

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.

Well, your narration shows truly that you suffered great loss. However, I think you messed up a trading plan that fetched you profit because you got carried away too soon. If a plan made you money, you ought to have settled with it and mastered it for greater profitability. Again, you quit too quick after suffering just two defeats from the market. Trading (whether forex or crypto) isn't an easy thing. You should've stayed a while to revisit the grey area of your failure and then try again. There isn't any profitable trader who didn't suffer losses before mastering the art.

Quote

she think it's only like casino...

You won't blame her for thinking that way, anyway. You made trading look like gambling to her.

fullhdpixel

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Quote from: VRExpress on April 19, 2022, 03:05:45 AM

There is a question that I want to ask newbies out there, why try something you know too less about with real money? Futures trading is for the pro traders around the globe, even exchanges will warn you when you click on the futures trading tab, the risk is way higher than every other, followed by margin trading, its good to challenge your brain but with low capital that wont hurt you, why 20,000$ mate?, you can't be greedy on something you know too less about.

I am not a newbie but I have seen a lot of newbies and I can give you a few answers to this. One of the reasons is the fact that they think they will be different than others and they think they "know" what is going on inside.

Think of it like "rothschilds and soros families are ruling the world!! they have hidden secret prayers killing virgins!!!" and so forth type of mindset, it is conspiracy and they think that they are in the know when they find some influencer who they think carries information from inside. Reality is that they are clueless but they think they got hold off some information that will make them rich and that is the main reason why they are so confident when investing.

VRExpress

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There is a question that I want to ask newbies out there, why try something you know too less about with real money? Futures trading is for the pro traders around the globe, even exchanges will warn you when you click on the futures trading tab, the risk is way higher than every other, followed by margin trading, its good to challenge your brain but with low capital that wont hurt you, why 20,000$ mate?, you can't be greedy on something you know too less about.

Dr.Osh

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very interesting experience. that's why people always emphasize not to use money which is very important for our life, and not to be greedy. however, you have so many opportunities to make a sizable profit. however, I understand how we can become greedy when we get big profits. I've also felt that way until finally it brought us a big loss. besides, never make a decision just because someone else is benefiting from it. we need to prepare a strategy before starting, especially if it is a place full of risk. this is a very good lesson.

Adbitco

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Leading Crypto Sports Betting & Casino Platform

One thing very much important is that we must not borrow to start up crypto. It's advisable we used our spare money 💰 or money that is not in any pressure to pay back for online business. Most at times people thought that whatever concerns online turns to be gambling so I don't really disclose it to people in terms of trading and investment.

Well nevertheless, sorry for the bad experience please take heart and start afresh by buying currencies instead of future trading ect.

Afgan84

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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 🤗

pamsugas

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a big mistake if you risk all your assets to invest in crypto which must be understood for beginners that investing in crypto is full of risks so my advice if you are just starting out or want to benefit from crypto start with your extra money or money that not in use in the near future do not use the money from borrowed.

Fivestar4everMVP

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Very valuable lesson to learn from this, but I wouldn't advice newbies or rather traders not to try futures trading, but rather, make sure you know what you are doing, don't go gambling or guessing the market's movement cus doing this is the beginning of failure.
And secondly, it's been adviced for ages never to borrow money from the bank to trade or invest in cryptocurrencies, it's highly risky, if you must borrow, make sure to borrow from family members or relatives who would understand the situation incase anything goes wrong.

Crypto is highly volitile and as such, it's high risk form of investment, this is why it's always adviced to never invest what you can't afford to loose.

@op, so sorry for your lose, and thanks for sharing, it's indeed a lesson for all to learn from, not just newbies, just as greed in the form of patience helps us make more money in crypto, it also can make one loose everything, we must learn how to get it under control, learn to know when patience have shifted to greed and know how to get it under control, this one of the ways one can survive and succeed in this space.

Topic: I lost +$ 20k in future, advice for newbies - page 2. (Read 938 times)