Lost 17500$ during recent downswing, Now completely broke.

Meysa_richa

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Quote from: iamwithyou on January 13, 2021, 12:10:33 PM

I lost around 1000$ and I was ok but I do not know what happens to me suddenly in the heat of the moment I decided to go all in with 100x leverage, with no technical analysis nothing, as I was sure about bitcoin reaching 50000$.
And that is it all my bankroll which I build from 350$ vanished my hard work of 6 month gone.
Now I am broke.

This is the big risk we have to take when we trade Crypto using this method. Leverage 100x will be profitable if the prediction we make is correct, but if it is wrong then we will lose a large amount.
Again, we have to be careful in this trade. This has happened to you for quite some time, but it will be a lesson for me. Since I am a small trader, I would not use too high leverage in trading.

tygeade

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This happened about 8 months ago guys, let it go. Dude already explained that he lost because he did 100x leverage without knowing anything about it, and that is normal. At the end of the day, if you do 100x leverage without knowing anything about the market or any research on it, then you are going to lose all of your money too, everyone will lose money, it is really nothing abnormal to lose that much money if you are doing something this silly.

I get that time to time people find this topic and they want to say how wrong it was, but even OP knew what he did was wrong, nobody in the world thinks it is smart to put all of your money into just one 100x leverage. Sometimes some people do it, even though they know it is wrong, because the upside dream of having 100k+ even 200k+ depending on the increase sounds very tempting, you could make a lot of money this way, but the downside is losing everything you own, and that is why sane people don't do it.

andreibi

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DO people still read this stuff. The OP was back in January, Jesus Christ.

roosbit

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Quote from: iamwithyou on January 13, 2021, 12:10:33 PM

Though I lost so many times earlier but this one is bit tough. I was bearish on bitcoin when it was around 30000$ but it went up and up and touches 40000$. I lost around 1000$ and I was ok

Bitcoin is very volatile and I feel the emotion and pain of losing money that you are feeling after investing a lot of time into it, we just have to keep trying till we get it right.

Quote from: iamwithyou on January 13, 2021, 12:10:33 PM

but I do not know what happens to me suddenly in the heat of the moment I decided to go all in with 100x leverage, with no technical analysis nothing, as I was sure about bitcoin reaching 50000$.
And that is it all my bankroll which I build from 350$ vanished my hard work of 6 month gone.
Now I am broke.

The moment you lost your composer and started trading with your emotions ,that's the moment you lost not when your account was gone. Don't revenge trade after losing this is very dangerous.

Quote from: iamwithyou on January 13, 2021, 12:10:33 PM

But I know I will build my bank roll again over the course of few months but oh man this is tough.
I hate this feeling. Guys no matter what don't be impulsive in trading.

One step at a time, you have done it once you can do it again.

teosanru

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Quote from: iamwithyou on January 13, 2021, 12:10:33 PM

Though I lost so many times earlier but this one is bit tough. I was bearish on bitcoin when it was around 30000$ but it went up and up and touches 40000$. I lost around 1000$ and I was ok but I do not know what happens to me suddenly in the heat of the moment I decided to go all in with 100x leverage, with no technical analysis nothing, as I was sure about bitcoin reaching 50000$.
And that is it all my bankroll which I build from 350$ vanished my hard work of 6 month gone.
Now I am broke. But I know I will build my bank roll again over the course of few months but oh man this is tough.
I hate this feeling. Guys no matter what don't be impulsive in trading.

This is really a huge and extremely stupid mistake, even if I am bullish on my life that bitcoin will reach 50k still I would not go for 100x leverage because of the very simple fact of fluctuations. We all know that how much bitcoin fluctuates, and with 100x leverage, your liquidation point must be just around 40-50 points below the current price, which means you gave zero breathing space to your order. I hope this lesson remains in your mind forever, the only holy grail for making money in this market is protecting your capital and keeping risk minimal. Impulsive trading isn't trading it's just gambling.

pawanjain

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Quote from: iamwithyou on January 13, 2021, 12:10:33 PM

Though I lost so many times earlier but this one is bit tough. I was bearish on bitcoin when it was around 30000$ but it went up and up and touches 40000$. I lost around 1000$ and I was ok but I do not know what happens to me suddenly in the heat of the moment I decided to go all in with 100x leverage, with no technical analysis nothing, as I was sure about bitcoin reaching 50000$.
And that is it all my bankroll which I build from 350$ vanished my hard work of 6 month gone.
Now I am broke. But I know I will build my bank roll again over the course of few months but oh man this is tough.
I hate this feeling. Guys no matter what don't be impulsive in trading.

That is indeed tough. I had done the same thing as you did but instead of such a huge amount I lost around $500.
Still I felt like I lost a lot but I am confident that I will recover this amount just by holding bitcoin for the long term.
From this I learnt a lesson that never trade crypto unless you are very sure about it and you have done your analysis well.
Not to forget that stop loss is a must.

Karish2return

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First of all you should have to cash your tokens or coins etc as we are all observing the news in which when there is a dump coming we should be aware of it and we have to make our tokens out of trading and then there will be zero percent loss and in most cases a little loss. But this is called trading you have to be ready for loss as well as you will get some profit too.

stomachgrowls

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Quote from: DarkDays on July 22, 2021, 05:39:06 PM

Quote from: iamwithyou on January 13, 2021, 12:10:33 PM

Though I lost so many times earlier but this one is bit tough. I was bearish on bitcoin when it was around 30000$ but it went up and up and touches 40000$. I lost around 1000$ and I was ok but I do not know what happens to me suddenly in the heat of the moment I decided to go all in with 100x leverage, with no technical analysis nothing, as I was sure about bitcoin reaching 50000$.
And that is it all my bankroll which I build from 350$ vanished my hard work of 6 month gone.
Now I am broke. But I know I will build my bank roll again over the course of few months but oh man this is tough.
I hate this feeling. Guys no matter what don't be impulsive in trading.

This is why I say that trading isn't for everyone. It requires skills as much as it requires patience. You never go on leverage when you're not sure of the market, and never do it with 100x.

The reality is that people will nonetheless try it because they want that quick money but it is stories like this that puts the risks in perspective. It is tough to lose it all but you've got a valuable lesson out of it, and don't forget you made the money once you can do it again!

Sad stories or wrekt experience is something been casual already on this trading market or topic where there are people who do lost up big time just because of having wrong perception which do end up on wrong
position or trades which it did really cost them big.

Going 100x is suicide..I do only touch up futures with 10x and wont get past on that number and thats the only percentage where i can took up some risk.You would really be basically messing up your life.

Invest or trade on the amount you can afford to lose because you wouldnt know on what would happen next.

Zilon

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Bitcoindata.science

This is where take profit and stop loss plays vital role. No guru can accurately tell how long a trade can sustain a given direction and so therefore it's always good to always take profit to avoid regretting. If you had applied stop loss and had shifted it above your entry point you would have left the trade with a profit. Shit happens though it's part of your own trading experience. Hope you recover soonest

iged_war

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Quote from: cryptolord2077 on July 22, 2021, 05:33:06 PM

I think you understand that your risk management is poor. Margin trading is the fastest way to lose money.
At the same time, you take this risk yourself, which means you had to accept it from the very beginning.
The fact that you are broken only means that you were not ready for this, you went all in.

trading margin should did by beginer traders who haven't good skill in technical or fundamental, we could loss our money easily if you dare to do it. Crypto market was not the way to make us rich in short time , but it could be place to make us poor in short time.

Quote from: Anamika1000 on July 24, 2021, 03:32:30 AM

Taking risks is a part of trading and getting sometimes a loss and sometimes the coins which give you a loss will also give you profit but the main point is never to lose hope. Try again this time with a small investment and wait for some time and hold them to give you a bigger profit than you expected

try with small investment will trained us and also test our trading skill , emotion and also psychology.. if we could consistant with small amount, add it gradually will be good step to growth our portofolio.

cryptolord2077

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Quote from: cryptolord2077 on July 22, 2021, 05:33:06 PM

I think you understand that your risk management is poor. Margin trading is the fastest way to lose money.
At the same time, you take this risk yourself, which means you had to accept it from the very beginning.
The fact that you are broken only means that you were not ready for this, you went all in.

I agree fastest way to lose and to earn money if you trades are most win, the problem with many people is FOMO and not applied any technical analysis when entering we are mostly focus on quick profits and not in market situation we have to analyze it all before entering the confirmation signal is very important to avoid fakeout.

Right. Any information should be perceived critically, moreover, there is always a factor of uncertainty, when events about which we do not suspect anything,
for example a disaster or Elon Musk's tweet, break the whole game for us, turning the market in one direction or another.

Anamika1000

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Taking risks is a part of trading and getting sometimes a loss and sometimes the coins which give you a loss will also give you profit but the main point is never to lose hope. Try again this time with a small investment and wait for some time and hold them to give you a bigger profit than you expected

famososMuertos

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Quote from: iamwithyou on January 13, 2021, 12:10:33 PM

...//...:

In my case I like to call it bankroll or capital investment, the problem is not losing $ 17k or $ 100, both can be difficult to recover for anyone, the problem is thinking that this could not happen ..... although that is not the main problem , the detail is not having the backing of money to start recovering.

I read you and it is like reading any player who makes a bet and thinks they are such a winner that they forget about the "safe bankroll", that is, if the probability is not 100% guaranteed, you are destined to that the percentage against you appear and lose, losing is the rule of risk in any type of investment, you should always have at least 10x of what you invest and the normal is 100x or more, you should never invest it all.

The positive is that you know how to start and if you did it once, there is no reason not to achieve it, but starting with $ 350 may not have the same achievement time, please do not repeat the same mistake.

AmoreJaz

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Quote from: DoublerHunter on July 22, 2021, 06:04:29 PM

Quote from: DarkDays on July 22, 2021, 05:39:06 PM

This is why I say that trading isn't for everyone. It requires skills as much as it requires patience. You never go on leverage when you're not sure of the market, and never do it with 100x.

The reality is that people will nonetheless try it because they want that quick money but it is stories like this that puts the risks in perspective. It is tough to lose it all but you've got a valuable lesson out of it, and don't forget you made the money once you can do it again!

^ Definitely right and I must agree with your point of view. Trading is required skills and knowledge and this is not an easy way of getting profit. When you see that the market suffers losses because it is in a bearish situation. You can take a break in trading or just do a little scalping while waiting the price will surge back. If you don't have enough skills on this, I suggest you pay attention to the investment process which is a very simple way of making a profit once you have patience holding on to it.

the usual reason why they go all in even with insufficient knowledge is for the hope that they will get good profits but most of the time, we will hear sad stories afterwards. that's a learning lesson for them. and next time, they will be more careful and they will at least do their own assessment before entering again. because if they will commit the same mistakes again and again, i can call that as stupidity. no one will help you but yourself in this market. don't rely from others' perspectives. you need to take care of your own business here.

DoublerHunter

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Quote from: DarkDays on July 22, 2021, 05:39:06 PM

Quote from: iamwithyou on January 13, 2021, 12:10:33 PM

Though I lost so many times earlier but this one is bit tough. I was bearish on bitcoin when it was around 30000$ but it went up and up and touches 40000$. I lost around 1000$ and I was ok but I do not know what happens to me suddenly in the heat of the moment I decided to go all in with 100x leverage, with no technical analysis nothing, as I was sure about bitcoin reaching 50000$.
And that is it all my bankroll which I build from 350$ vanished my hard work of 6 month gone.
Now I am broke. But I know I will build my bank roll again over the course of few months but oh man this is tough.
I hate this feeling. Guys no matter what don't be impulsive in trading.

This is why I say that trading isn't for everyone. It requires skills as much as it requires patience. You never go on leverage when you're not sure of the market, and never do it with 100x.

The reality is that people will nonetheless try it because they want that quick money but it is stories like this that puts the risks in perspective. It is tough to lose it all but you've got a valuable lesson out of it, and don't forget you made the money once you can do it again!

^ Definitely right and I must agree with your point of view. Trading is required skills and knowledge and this is not an easy way of getting profit. When you see that the market suffers losses because it is in a bearish situation. You can take a break in trading or just do a little scalping while waiting the price will surge back. If you don't have enough skills on this, I suggest you pay attention to the investment process which is a very simple way of making a profit once you have patience holding on to it.

DarkDays

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Quote from: iamwithyou on January 13, 2021, 12:10:33 PM

Though I lost so many times earlier but this one is bit tough. I was bearish on bitcoin when it was around 30000$ but it went up and up and touches 40000$. I lost around 1000$ and I was ok but I do not know what happens to me suddenly in the heat of the moment I decided to go all in with 100x leverage, with no technical analysis nothing, as I was sure about bitcoin reaching 50000$.
And that is it all my bankroll which I build from 350$ vanished my hard work of 6 month gone.
Now I am broke. But I know I will build my bank roll again over the course of few months but oh man this is tough.
I hate this feeling. Guys no matter what don't be impulsive in trading.

This is why I say that trading isn't for everyone. It requires skills as much as it requires patience. You never go on leverage when you're not sure of the market, and never do it with 100x.

The reality is that people will nonetheless try it because they want that quick money but it is stories like this that puts the risks in perspective. It is tough to lose it all but you've got a valuable lesson out of it, and don't forget you made the money once you can do it again!

cryptolord2077

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I think you understand that your risk management is poor. Margin trading is the fastest way to lose money.
At the same time, you take this risk yourself, which means you had to accept it from the very beginning.
The fact that you are broken only means that you were not ready for this, you went all in.

Quidat

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Quote from: iv4n on July 22, 2021, 05:27:09 AM

Quote from: dotcoin.info on July 21, 2021, 05:46:53 PM

This is how most often unreasoned all-ins end. You decided to play roulette with a bet of 1 to 100 and lost, there is nothing to be surprised about and nothing to worry about. You yourself took the risk and lost.
These are the rules of the game. Just accept that you are unlucky or that you shouldn't have done that, decide for yourself. But they hope that here they will tell you that you are a fine fellow, this is unlikely.

Nice comment! Leverage is pure gambling, and you are 101% right, the OP decided to place a very risky bet and he lost... it would be the same if he decided to play any other gambling game! When you are gambling and risking you need to be ready to lose!
With that said, don't do something you can regret later! What OP can do now is to try to not make the same mistake again... that works for others, try not to make this mistake, to go all-in with everything you have on a risky bet!

Not most of the time but i do agree that this is gambling and due to greed of most newbies they do really burned out themselves quick and would realize into the mistakes that they had committed.
I was once of those noobs who do really believe about quick bucks with leverage until it burned or blown out my capital in short time and able to realize that it isnt something a noob that could
handle on.If you do have good analysis or experience in the market then you might have chance but the risk is on where we do talk about and depends on how someone could able to accept it.

Handpari

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I’m invested in several coins, and due to the current swing, ive moved my initial investments into USDT (won’t lose or gain their, but it’s safe) and the house money i profited is still sitting in Bitcoin, Ada, ETH etc…
My money maker is in a stable utility token, IMC…. Been going up for last 7 months… slow, but increases daily…
But all this, obviously, is my personal strategy… choose what’s best for you.

Scarlett7777

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Quote from: iamwithyou on January 13, 2021, 12:10:33 PM

Though I lost so many times earlier but this one is bit tough. I was bearish on bitcoin when it was around 30000$ but it went up and up and touches 40000$. I lost around 1000$ and I was ok but I do not know what happens to me suddenly in the heat of the moment I decided to go all in with 100x leverage, with no technical analysis nothing, as I was sure about bitcoin reaching 50000$.
And that is it all my bankroll which I build from 350$ vanished my hard work of 6 month gone.
Now I am broke. But I know I will build my bank roll again over the course of few months but oh man this is tough.
I hate this feeling. Guys no matter what don't be impulsive in trading.

I really understand your feelings very well. I also survived this way. During that period of time, I was tortured every day. I lost 8 pounds a week. I didn’t want to eat or sleep. I didn’t have any interest in anything. It felt more frustrated than being broken in love. ,, staring at the plate, tossing and turning, waiting for dawn with eyes open, watching the sun rise, but my world is dark, without a trace of light, my heart is like being cut inch by inch by an unsharp knife, too tormented After that, I summarized some of the reasons and improved my ability to withstand stress in such a catastrophe. Although I have not yet recovered, I am confident that I can do it next, because I have not been knocked down, and all those who can’t kill me, Will make me stronger. You also have to have confidence and stand up again. Together we will. Stand up again.

Topic: Lost 17500$ during recent downswing, Now completely broke. (Read 1076 times)