Here some mistakes that you have made it from your thread.
1. using loan to trade in the speculation market. Future is a very high risk trade for sure. You can get shorted by the whales easily and wiped out from the market.
2. You're being too greedy and yeah just take any profit from the market if you can get it.
3. you didn't use stop loses
4. you know that you have been loosing your money through future trade but you keep gambling on it with whole of your money.
Man, you have made lots of mistakes and you must work hard to pay your monthly debt to the bank. I hope that you know what you must to do next.
Avoid to deal with future trade anymore if you didn't have cold money to be used. You may lose your life once again when you do that in the future
Topic: I lost +$ 20k in future, advice for newbies - page 5. (Read 938 times)
tl;dr
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.
I just read the words that are in capital letters and I think its enough to know what is the main idea behind the OP's post.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.
I agree with you and I think many of us will agree because there are some traders including me who tried futures trading and failed. I still remember when I double my money in a short amount of time but I did it thru many trades (like swing trading but in the futures). All of the profits and the initial capital that I used in futures trading got wiped out in just a single trade. I did one single trade mistake and I lost all of my profits and my capital. After that I didn't do futures trading anymore. Futures isn't for everyone. Futures is for the expert people and those who are ready to lose their money if they made a single mistake.
It's a golden rule to always play with safe money that you can afford to lose. Don't invest your hard-earned money and don't be enticed by others' earnings because the result can not be the same for everyone. This market requires patience and does not trade like a gambler always book the profit at the right time. Learn to control the greed If you become greedy you might lose all your profit. Mostly, newbies, investors come here to make quick money but they end up in loss because of their gambling nature and lack of knowledge about the crypto market movements. I feel you lose money in overconfidence. I would advise you to enter again in this market when you learn the basics and fundamentals of the market otherwise it will always be risky.
The first impression I take from your experience is that you are too ambitious with a world you don't understand. It's true what you said that you were greedy, but what's even scarier is that you borrow money from a bank to trade crypto, that's crazy in my opinion, don't you think about the risk of loss that you may experience in the future? My advice for the future is never to repeat this kind of thing again, never use your life's money to play crypto, just with the money you are ready to lose.
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.
You made a very good choice to stop trading futures. most of us that have traded FX back in the days and even if we did not make profits from those trades didn't take that experience and did not go in the same direction with crypto instead, we went into crypto trading with that mentality however, I believe that spot trading if at all you are going to day trade is the best. Buy and hold and sell when you are in a better price but for me, I prefer a longer time investment but great that you have realized the mistake and also shared it with us cos some will definitely learn from it.
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.
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.
Disagree with the number 1 and 3. Newbies can try future but with extra caution, I learned future and how it works through experience but of course with a limited amount of money around $20-$50 per trade and with a lower leverage to see and experience how it works. The third one, it's alright to take money from the bank and trade with it as long as it is your personal savings and not a loan taken from bank since I'm sure you wouldn't be able to pay for it.
I agree with the second one, if you have money and that money is for food, paying bills and other important expenses don't try to use that to trade or try your luck with trading since trading is like gambling there's no way you can tell that you are going to have profit and so it's not smart to use that money to trade. Only trade using your spare money that you can afford to lose.
How can you say it's not for you already when you just lost it? When were you successful in having turned $1k into $5k? What is the realization there? Is it just because of the loss or your lack of discipline and rules that you should set yourself not to lose your every capital?
I think it's just on your mindset that you should know your limits and have backup plans or have an emergency fund before anything else to quickly recover anything that might affect your lifestyle or living conditions.
You should have control over futures and set the right amount of rules. You can try Gunbot to have a trading system that can assist you continuously.
I think it's just on your mindset that you should know your limits and have backup plans or have an emergency fund before anything else to quickly recover anything that might affect your lifestyle or living conditions.
You should have control over futures and set the right amount of rules. You can try Gunbot to have a trading system that can assist you continuously.
I think it's pretty pointless discussing rational numbers with guys like that actually.
First, the post sounds completely fake, as you noticed. Second, the guy is probably not even using his real forum account, so that means he's not telling the truth or he'd be using his actual account. Who the hell loses that much money and doesn't have an account here already right?
Anyway, Gunbot is just for automation. If your system doesn't work, Gunbot doesn't make it better
From your story, it seems that you don't have the expertise to analyze so it makes you suffer losses and unfortunately, you do that many times and even use the money you borrowed. I hope it is the last time and you will never do it again and better start learning to trade.
We all must have experienced losses, but if we can take lessons from what we experience, we can change and improve our skills. Take your losses as a reminder and your reason to study better so that you can reap the benefits later.
We all must have experienced losses, but if we can take lessons from what we experience, we can change and improve our skills. Take your losses as a reminder and your reason to study better so that you can reap the benefits later.
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.
all i can say is congratulations to your all success and failure in this investing and trading journey mate, what i find in your post is that greediness is all your problem and not the strategy you made.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.
because on all of those? you started well(Of course not including the very first time) this means one thing that you are good in this field it is just the attitude that brings you mostly to losses.
this may serve as your lesson mate that in any investing you will enter try not to seek too much profit and be contented in small but surely way.
How can you say it's not for you already when you just lost it? When were you successful in having turned $1k into $5k? What is the realization there? Is it just because of the loss or your lack of discipline and rules that you should set yourself not to lose your every capital?
I think it's just on your mindset that you should know your limits and have backup plans or have an emergency fund before anything else to quickly recover anything that might affect your lifestyle or living conditions.
You should have control over futures and set the right amount of rules. You can try Gunbot to have a trading system that can assist you continuously.
I think it's just on your mindset that you should know your limits and have backup plans or have an emergency fund before anything else to quickly recover anything that might affect your lifestyle or living conditions.
You should have control over futures and set the right amount of rules. You can try Gunbot to have a trading system that can assist you continuously.
very sorry for what happened to you.
it's true what you said NEVER TAKE MONEY FROM THE BANK AND TARDE WITH IT.
and I say it should be noted for novice traders, because if you don't have the expertise and experience I can make sure your money will be in vain, but here we are also taught so that we are not greedy in taking profits
it's true what you said NEVER TAKE MONEY FROM THE BANK AND TARDE WITH IT.
and I say it should be noted for novice traders, because if you don't have the expertise and experience I can make sure your money will be in vain, but here we are also taught so that we are not greedy in taking profits
Investing in cryptocurrencies is crazy, I have known cryptocurrencies since 2012 or 10 years ago, at that time I was actively trading and participating in HYIPs, cloud mining, etc. when I managed to withdraw and profit then I would add more so that the value increased significantly, and the bad thing happened that the cloud mining and HYIP site became a scam so I stopped completely since 2015. Now I only invest top coins and hold for long term.
First, sorry for the loses. It's not easy losing such amount of money. But, you should have been wiser in the proof time. I mean your loses should have taught you a lesson or two. However, thanks for the advice. Personally, I don't do future trading, I don't understand anything about it, so I run from it.
Another advice you fail to mention is that, we should always learn to take profit. Don't be a dashboard millionaire. Always take profit, no matter how small.
Another advice you fail to mention is that, we should always learn to take profit. Don't be a dashboard millionaire. Always take profit, no matter how small.
" It would be better if you buy coins or tokens directly on the spot for your future " is roughly what one of my friends said. I have a plan to at least find out how the mechanics of this futures trading actually are.
This is the safest gamble. Future trading is something so addictive. Yes its easy to earn but also the losing is also high chance there. Future trading is increasing leverage to earn by risking your funds at certain level. So for beginner this is really tough, only those who knows how to earn can easily find it easy. Also knowledge on charting, technical and fundamentals are highly recommended for your skills before doing it.
Yup same as everyone else said, never trade money you cant afford losing, and Never, ever under any circumstances trade with bank loans! Your lucky that it was 20K, people have remortgaged their homes looking to make a quick buck and lost it all. I would personally stay clear of leveraging as well but at the very least traders are borrowing for the most part against collateral they already own!
Bank loans geeze, sorry for your loss but thats a deffo no for anyone!
Bank loans geeze, sorry for your loss but thats a deffo no for anyone!
Your experience is really very sad, i'm sorry 
. Thank you for sharing your experience with us. crypto can indeed be an easy way to make us get rich quick, but behind all that crypto can also easily make us bankrupt and poor.
from the past, many people have warned of the risks that will be obtained when investing in crypto and several others have always warned to use money that is not used for daily needs but many people ignore it. i hope that in the future no one will be like you.
. Thank you for sharing your experience with us. crypto can indeed be an easy way to make us get rich quick, but behind all that crypto can also easily make us bankrupt and poor.from the past, many people have warned of the risks that will be obtained when investing in crypto and several others have always warned to use money that is not used for daily needs but many people ignore it. i hope that in the future no one will be like you.
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I am sorry for your loss. Never using money for living is quite right because you need to continue life and without that money, you can not buy your daily needs. When you want to invest in crypto or others, you need to know how much money you will use and do not use all of the money because you read the news that many people are making a lot of money from crypto. That is not like that and it is not as simple as you tough because they have already been in crypto for some time and are lucky to make a big profit from crypto. You should always be careful spending your money because your life will in risk if you do not know what to do.
Until now I have never tried futures trading, I think that it is very risky. I have never experienced it firsthand, but some of my friends have experienced losses that even exceed the losses you mentioned. They also advise against playing futures trading.
" It would be better if you buy coins or tokens directly on the spot for your future " is roughly what one of my friends said. I have a plan to at least find out how the mechanics of this futures trading actually are.
" It would be better if you buy coins or tokens directly on the spot for your future " is roughly what one of my friends said. I have a plan to at least find out how the mechanics of this futures trading actually are.
I see no problem when someone lost money and someone made money. And complaining about someone or yourself won't help much, instead keep looking for new opportunities to review past mistakes to fix it. Even though you have lost some money now because of past mistakes, if you are not on the right track, there will be other mistakes in the future waiting for you. Personally, I'm in any field, being satisfied with everything and knowing enough for myself will bring a comfortable life.
I see that you're into the hype and whenever there's one, you rush to jump on it without realizing the consequences. For me, that's lots of trouble because rushing into something makes you prone to something you don't really want because when doing that, you haven't even refrained and thought of it twice before you invest. I also have some money to spare to expand my investment but I rather choose to wait and carefully wait for the right time to buy because rushing is not a good thing to do here.
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