I lost my confidence... And fought to get it back.

carlfebz2

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Quote from: Harlot on August 11, 2019, 12:37:15 PM

Emotional breakdown for newbies is a common occurrence especially the ones who have entered the markets with literally no experience in trading whatsoever, they will always expect that the money after buying will be an automatic profit. Luckily the OP is one of those newbies that can realize mistakes and try to fix it. The first part of it is of course admitting their own mistakes where newbies mostly fail as they always blame the market of Bitcoin in particular for their loss, they don't see their own carelessness and unpreparedness on entering the market.

Weve been once a newbie yet nothing do start on becoming a professional or experienced ones.The thing matters here is on how you do accept those losses.
I highly believe that most of us do have that kind of hopes on making easy profits on trading in our first tries and only a few do realizes that things doesnt work on this way.

joshy23

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Quote from: quarkfx on August 11, 2019, 05:58:11 AM

I had lost confidence too when I see chart and I would feel that i will lose fear for many months I didn't do trading then slowly I started with one pair and trading I only gained confidence slowly

Good for you to recover and regained your confidence back to this business, we all have difficulty as fear mostly overcome our good thinking about the potential success of our journey towards this venue of investment, we have to feel the suffering and learned from it then begin to realized whatever ways to go overcoming this fear and build a good system gain back your trust to your knowledge.

horrifiedx1

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Quote from: Kasabus on August 01, 2019, 06:14:41 AM

Quote from: quarkfx on August 01, 2019, 05:49:32 AM

we do fail in many things but what we lose should to kill us it should be minimum , in trading we should not take risks which will through us out of the market it should me minimum we have to manage so that we will be having capital left for some more trades

Not all the times. For some instance that I am sure that this coin will be soaring high, of course I won't set into it's minimum but to take what I can afford to put in.
It is very important to analyze the market soo well and don't get affected by our fears and doubts cause that's the only reason why we lose in trading.

right, fear makes our mind go awry, so it is doubtful in analyzing, besides that self-confidence must grow but don't overconfidence. if we can control it, then trading can continue, because if you can't control it, it will be useless

Rufsilf

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Quote from: quarkfx on August 11, 2019, 05:58:11 AM

I had lost confidence too when I see chart and I would feel that i will lose fear for many months I didn't do trading then slowly I started with one pair and trading I only gained confidence slowly

Its quite normal to feel that way besides we are just humans and that we enter trading because we want to earn so if we see the price isn’t what we expect it to be then it can lose confidence but don’t let it stop you in bouncing back, it is not all the time the price is not favorable, we just have to be positive because bitcoin has a big potential and it is a reliable investment.

quarkfx

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I had lost confidence too when I see chart and I would feel that i will lose fear for many months I didn't do trading then slowly I started with one pair and trading I only gained confidence slowly

btcyoda

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Quote from: Kasabus on August 01, 2019, 06:14:41 AM

Quote from: quarkfx on August 01, 2019, 05:49:32 AM

we do fail in many things but what we lose should to kill us it should be minimum , in trading we should not take risks which will through us out of the market it should me minimum we have to manage so that we will be having capital left for some more trades

Not all the times. For some instance that I am sure that this coin will be soaring high, of course I won't set into it's minimum but to take what I can afford to put in.
It is very important to analyze the market soo well and don't get affected by our fears and doubts cause that's the only reason why we lose in trading.

Exactly, we should always strong during the downfall because it will hurt a lot, so it is good to be active towards the market because some times market fluctuation cannot be estimated but we have minimize our loos during this fluctuations.

Kasabus

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Quote from: quarkfx on August 01, 2019, 05:49:32 AM

we do fail in many things but what we lose should to kill us it should be minimum , in trading we should not take risks which will through us out of the market it should me minimum we have to manage so that we will be having capital left for some more trades

Not all the times. For some instance that I am sure that this coin will be soaring high, of course I won't set into it's minimum but to take what I can afford to put in.
It is very important to analyze the market soo well and don't get affected by our fears and doubts cause that's the only reason why we lose in trading.

quarkfx

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we do fail in many things but what we lose should to kill us it should be minimum , in trading we should not take risks which will through us out of the market it should me minimum we have to manage so that we will be having capital left for some more trades

Xampeuu

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Quote from: ?? on ??

Thanks for the kind of story you have, it is inspiring our confidence might be fading but we need to be strong and overcome what we loss,
But too much confidence will bring us into a blind decisions so what we need is control on our emotions and slow but rightful decision makings.
In trading we loss but we need not to panic but instead try again in a more careful way and that's what an experience brings.

I agree. in trading, there are times when we experience losses. just how we can discipline the analysis, so that the loss is not more. At first we have calculated risk and rewards, so we must obey the rules that have been made

samycoin

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Quote from: Japinat on July 24, 2019, 12:13:17 AM

Quote from: GreatArkansas on July 23, 2019, 10:29:53 PM

I like explanation in the picture and that is really the process if a person wants to be successful.
We keep learning everyday, accept our mistakes and improve it.

I can also testify that to my personal experience, I'm a kind of person who does not easily give up in challenges, and trading IMO
is a challenge, if we want to be successful, we have to accept that challenges and always believe that quitters never win.

That's true base to what we experience we will learn from the mistake and we can use it to make ourselves better and to give us more ideas to improved everything we will do in crypto. Trading is not easy as piece of cake we need to learn and experience everything before we get the success.

sana54210

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Quote from: master122 on August 12, 2019, 09:47:26 AM

Keep up spirit and dont give up. I am too already lost more than 80% from my asset. I think most of beginners had lost their asset. Just dont give up, u will learn from ur experience.

Our mistakes are really meant to give us those experiences that will teach us how to further grow in our trades and investment. The first thing we even have to do first is to believe in that investment that we choose, once we believe in it, then it will give us the strength never to give up on it even we experience some failures.

Our failure is meant serve as an experience, and at least something that we will be able to tell story with when narrating our success to people. there is an elderly person in my village who believes that those who faces challenges in life would be the one that lives longer in life(lol), I don’t know how true this is, but those are the words of the elderly ones, so in crypto trading, I believe those who has had history of failure a lot are the ones that later becomes the guru in future.

master122

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Keep up spirit and dont give up. I am too already lost more than 80% from my asset. I think most of beginners had lost their asset. Just dont give up, u will learn from ur experience.

Harlot

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Emotional breakdown for newbies is a common occurrence especially the ones who have entered the markets with literally no experience in trading whatsoever, they will always expect that the money after buying will be an automatic profit. Luckily the OP is one of those newbies that can realize mistakes and try to fix it. The first part of it is of course admitting their own mistakes where newbies mostly fail as they always blame the market of Bitcoin in particular for their loss, they don't see their own carelessness and unpreparedness on entering the market.

MFahad

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Quote from: Mr_Akbar on July 23, 2019, 07:03:31 PM

I once lost 26% of my portfolio in three short trades, in less than an hour and a half.

It was brutally crushing.
Weeks of hard work gone in the blink of an eye.

But I thought back to when I was just a little kid, learning how to ride a horse at summer camp.

More accurately I remember falling off said horse while trying to learn how to ride it.
And the camp counselor wiping the dirt (and maybe a tear, though I'd never admit it) off my face.

"If you don't get right back on that horse, you never will again." he told me.

And so I did.

But when I got back on the trading horse the next day, something was different. It didn't feel right.
It felt like the charts I was so used to watching, were in a foreign language.

The letters were still the same, but I couldn't read them anymore. Whatever I used to see, whatever strategy I had been using before, it didn't fit.

Something was missing.

I floundered, and I panicked.

Luckily, a good friend and mentor was there to catch me.
Thanks to their wisdom, it became clear to me - there was indeed something missing.

My confidence.

Confidence in my skill, confidence in my ability to control my emotions, confidence in my analysis.
Without that, there was no way that crypto could the salvation I so desperately longed for.

And so I set out to rebuild that confidence, brick by brick.
For the next 30 days, I traded only a completely insignificant amount of money and I documented every last detail.

That helped me control my despair while validating the effectiveness of my strategy.

After rediscovering my groove in those 30 days, I slowly ramped back up to trading real money.

In the end, learning from that experience proved far more valuable than the short term damage to my portfolio.

Have you ever had to experience something extreme to overcome a mental weakness?

This is what exactly happens with new traders who try to make good trades without getting enough knowledge and lose their money.
Once we get the knowledge and experience in trading, we can not only recover our loses but same time we may be in profit also.

LimLims

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Yes your story is really worth reading.
You set an example for others.
You really lost a huge amount in less than 90 minutes, but you didn't get panicked and lost your confidence.
That is the thing that many traders lag behind.
I really appreciated the eay you fought and got your confidence back.
Good luck to you.

pundit

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Failures are the pillars of success. Every successful man had many failures in life before becoming successful. The way you decided to analyze your mistakes and came back to trading with plan is really impressive and more valuable than the amount you lost. I am in trading for more than 9 years, many times I increased my account to 500% and suddenly lost the whole account. I know the fact that I take risky trades which should not be done. Now like you I decided to learn from my mistake and will trade my account professionally, I hope will gain all back what I have lost. You whole story is really inspiring.

ethereumhunter

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Losing confidence in trading is hard, and I feel that. I think we need to convince ourselves and say to ourselves that we can try again, no matter if we have a bad experience before because I am sure that we are not only one and there are many others will have the same experience. We should use the experience as a lesson for ourselves, so we can get back and try trading again. No matter if it's hard, if you have a strong will and you want to try, I am sure you will get better than before.

South Park

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Quote from: FanEagle on July 30, 2019, 10:02:17 AM

Quote from: ?? on ??

All we need is enough courage to accept the result and try again and again until succeed but many people stops once they lost due to the losses they had faced is very huge for them which shows why we are saying that affordable money should be the investment capital.

Not everyone you see that stopped has actually lost confidence in trading, we have so many people that did not acquire enough strategy and skills before they went into trading, and after they try their luck and they fail, some usually withdraw first to just go back and learn more before coming back to the market.

When I started trading, it happened to me too, I started learning to trade and because I was doing well with my practices, I did not wait to become perfect and I rushed into trading live till the extent that I started using margin trade, but after I lost heavily, I surely withdrew and went back to take more time to learn more, in fact it took me almost a year of staying back, but now I am perfect with my trades now after I have gone to learn more techniques.

Another good story of how someone recovered from adversity, the truth is that regardless of your skill as a trader at some point you are going to make a mistake and you will lose more money than what you planned initially, and when that happens you need the mental toughness to overcome the situation, it is not easy at all but it can be done as long as you are willing to examine your actions with honesty, I have made a few mistakes as well but after each mistake my ability as a trader has increased.

guoyu78

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Sometimes it is necessary to experience a strong emotional shock for your head to start working. Because failures can also motivate well. I think everyone goes through that and someone just gives up after the first failure, and who then begins to learn from their mistakes and achieve their goals.

If you're giving up after failing, it's more like letting your future be wasted. That doesn't make any sense at all, and if those failures will be our strength I guess it needs more time to recover. Learning is a process to undergo in daily basis or by instances, so expect that struggles will be there most of the time.

Yes I know, but people cannot all be the same or know same thing, we have some people that no matter the effort they out into it, they may still never get it right, so what would you advise such people to do? They should still continue with it and keep failing? We don’t have to get ourselves involve in things that are never meant for use, but if we eventually see the truth, then we can shift away from it and then look for that thing that are meant for us to do.

There are some people that are not just good with trading, and I don’t think we should push them too hard in the name of not giving in to failure, it is not about failure, it is just about finding the right part for them to follow and be successful. They have to discover themselves and see if they have passion for trading or not, otherwise they will keep failing.

FanEagle

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Quote from: ?? on ??

All we need is enough courage to accept the result and try again and again until succeed but many people stops once they lost due to the losses they had faced is very huge for them which shows why we are saying that affordable money should be the investment capital.

Not everyone you see that stopped has actually lost confidence in trading, we have so many people that did not acquire enough strategy and skills before they went into trading, and after they try their luck and they fail, some usually withdraw first to just go back and learn more before coming back to the market.

When I started trading, it happened to me too, I started learning to trade and because I was doing well with my practices, I did not wait to become perfect and I rushed into trading live till the extent that I started using margin trade, but after I lost heavily, I surely withdrew and went back to take more time to learn more, in fact it took me almost a year of staying back, but now I am perfect with my trades now after I have gone to learn more techniques.

Topic: I lost my confidence... And fought to get it back. (Read 872 times)