Lost 17500$ during recent downswing, Now completely broke. - page 2.

iv4n

legendary

Activity: 3248

Merit: 1179

Quote from: dotcoin.info on July 21, 2021, 04:46:53 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!

dotcoin.info

sr. member

Activity: 686

Merit: 252

www.cd3d.app

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.

stomachgrowls

hero member

Activity: 3010

Merit: 794

Quote from: ashmodeus on June 22, 2021, 04:26:12 AM

hey , i also lost almost $ 20k on recent bear , but , i cant just die because it , u know what , that just reminded me to why i soo stupid spending almost 18 hrs/day watching the shit price movement , and i must pay for it. Now what i do just play NFT game and earn from it. of course , i just stay away from "trading" , too much time and money wasting on that job. eventhough $ 18k i got from trading, but , my greed is too much and they take back what they give.

Dealing up with market on very active manner would really be taking lots of patience towards the market and of course you should really be minding on how you would gonna be handling out your time and funds effectively and losses would really be always part of the line.

If you cant just easily accept that you do lost and trying out to quit just because you are afraid for further losses then you dont actually have that investor kind like of mind but i cant really blame some on not to have those kind of reactions since money is valuable and we cant just afford to lose even more.

When it comes to losses then i dont usually make some tally or list out on how much overall that i had lost because you can eventually presume out if you are on positive or negative and the most important thing is that you do able to sustain yourself.

Quit or continue. You do only have two choice and its up to someones personal choice.

leea-1334

hero member

Activity: 2338

Merit: 953

Temporary forum vacation

Completely broke means:

1. You did not practice stop loss. Bad idea.
2. You did not put money you can afford to lose. Also very bad idea.
3. You have the chance to learn a great lesson. Buy crypto and hodl with money you can dispose. Earn back with a proper job salary what you lost and look back on this as a great experience.

ashmodeus

hero member

Activity: 1638

Merit: 518

hey , i also lost almost $ 20k on recent bear , but , i cant just die because it , u know what , that just reminded me to why i soo stupid spending almost 18 hrs/day watching the shit price movement , and i must pay for it. Now what i do just play NFT game and earn from it. of course , i just stay away from "trading" , too much time and money wasting on that job. eventhough $ 18k i got from trading, but , my greed is too much and they take back what they give.

manggis97

member

Activity: 476

Merit: 10

You should thinking more than twice before trade on futures markets, and avoid trade based on emotional and greedy. $17500 is alot of money, and by this amount you should be make invest in separate differents intstrument of asset. $1k is enough for margin trading and the remaining of your fund should put on others assets like real BTC, High cap altcoin, Gold and good stocks.

Kong Hey Pakboy

member

Activity: 1120

Merit: 68

That's pretty sad of a story but enough of that I guess. Your mistake is a good lesson for others to learn and try to look at the positive side that you will help prevent other people from doing the same mistake. There will be a brighter future for you OP, remember that as long as you live, there will be hope for the next day.

goldade

full member

Activity: 896

Merit: 104

The Standard Protocol - Solving Inflation

Quote from: iamwithyou on January 13, 2021, 11:10:33 AM

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'm sorry about your loss. Well, you are one of the people who had to learn lessons the hard way. I'm sure by now you must have understood how not to make this mistake again.
I think you should take some time off trading for your mental health. I'd have said you should take the time to learn trading but you're already a good trader but it doesn't hurt to know more so learn more and then you'd be able to come back to trading better and stronger and you'd be able to recover your funds in no time because you'd make calculated trades now.

feelideb

full member

Activity: 770

Merit: 101

fLibero.financial

Sorry for your loss! I think everybody have had their share of bad judgement! I am sure this experience will help you a lots in your future trading! The first thing on my mind when opening a position on any trade is safety of my fund and I must say this have limit my profit but have kept me safe ! It important to be guided by established principle, money is emotional and trading priniciple will protect in the heat of emotions!

Distinctin

hero member

Activity: 2926

Merit: 657

No dream is too big and no dreamer is too small

Quote from: CaVO32 on June 01, 2021, 03:51:01 PM

Quote from: Untomabur on June 01, 2021, 11:52:09 AM

Quote from: ice18 on June 01, 2021, 11:14:30 AM

This is like you entered a war with no enough weapons and ammunition and no gameplan at all and thats really risky 100% leverage is kinda high you can gain huge amount in seconds but you will also bankrupt in seconds its a lesson learned OP, better make plan next time and stick to it.

if you have done futures trading it will make us addicted, why?
because in futures trading, of course the capital that we trade, will be 2x to 10x easily if all your analysis is correct,
but it is true that the losses we will get are also getting bigger, even your capital may wll lose, so follow the trading rules and you will be safe

The problem with the OP is that he said he didn't make any analysis. So it is like he is putting his money on the market blindly, which is actually not very good. Even if we say, TA will not work all the time, at least you have idea on what may happen. But here, it is like he is punching in the air. Anyway, that will be his lesson and by now, I guess, he already recovered. As long as we live, we have the chance to earn money.

This is not a good idea and anyone who does like this will surely end up broke. Even just knowing the basic knowledge about crypto is not good enough to make a good profit and most likely we still have a big chance to lose. In order to avoid such a thing, we have to enhance our knowledge and skill, we need to level our understanding as that only the tool that could help us otherwise, we be just like OP.

CaVO32

full member

Activity: 1848

Merit: 158

Quote from: Untomabur on June 01, 2021, 11:52:09 AM

Quote from: ice18 on June 01, 2021, 11:14:30 AM

This is like you entered a war with no enough weapons and ammunition and no gameplan at all and thats really risky 100% leverage is kinda high you can gain huge amount in seconds but you will also bankrupt in seconds its a lesson learned OP, better make plan next time and stick to it.

if you have done futures trading it will make us addicted, why?
because in futures trading, of course the capital that we trade, will be 2x to 10x easily if all your analysis is correct,
but it is true that the losses we will get are also getting bigger, even your capital may wll lose, so follow the trading rules and you will be safe

The problem with the OP is that he said he didn't make any analysis. So it is like he is putting his money on the market blindly, which is actually not very good. Even if we say, TA will not work all the time, at least you have idea on what may happen. But here, it is like he is punching in the air. Anyway, that will be his lesson and by now, I guess, he already recovered. As long as we live, we have the chance to earn money.

Oilacris

hero member

Activity: 2996

Merit: 609

Quote from: irsykes on June 01, 2021, 01:15:47 PM

Seen OP's story it means maybe he really confident with his prediction because he said there are no technical analysis. That is maybe be a mistake, maybe we should't under estimate how market work so we must be keep on position or maybe condition which really good in trading. But see the title is $17500 from $350 so OP you actually really good trader, sorry for your loss. And maybe he already get his profit back now because it is already many months.

Doesnt have technicals doesnt mean that it is already wrong since he had presume that the market wont really dipped down for 30% which we know that its likely to happen easily within this market
and thats still be considered to be an analysis.

Also, not all technical would be precise but i agree that it is much better to have rather than nothing at all.You wouldnt know on what comes next and when it comes to fund management
then people should really know on how to handle it.

OP isnt the only one who got wrekt by this market but there are still lots out of there.This should be a lesson learned.

irsykes

sr. member

Activity: 1479

Merit: 273

Seabet.io | Crypto-Casino

Seen OP's story it means maybe he really confident with his prediction because he said there are no technical analysis. That is maybe be a mistake, maybe we should't under estimate how market work so we must be keep on position or maybe condition which really good in trading. But see the title is $17500 from $350 so OP you actually really good trader, sorry for your loss. And maybe he already get his profit back now because it is already many months.

Untomabur

member

Activity: 669

Merit: 10

Quote from: ice18 on June 01, 2021, 11:14:30 AM

This is like you entered a war with no enough weapons and ammunition and no gameplan at all and thats really risky 100% leverage is kinda high you can gain huge amount in seconds but you will also bankrupt in seconds its a lesson learned OP, better make plan next time and stick to it.

if you have done futures trading it will make us addicted, why?
because in futures trading, of course the capital that we trade, will be 2x to 10x easily if all your analysis is correct,
but it is true that the losses we will get are also getting bigger, even your capital may wll lose, so follow the trading rules and you will be safe

ice18

hero member

Activity: 2492

Merit: 542

This is like you entered a war with no enough weapons and ammunition and no gameplan at all and thats really risky 100% leverage is kinda high you can gain huge amount in seconds but you will also bankrupt in seconds its a lesson learned OP, better make plan next time and stick to it.

grabpopcorn536

member

Activity: 476

Merit: 12

Your loss is because you didn't properly analyze the market and tried to stall the train while it was running. I still often make mistakes when participating in derivatives or futures trading. For cryptos that have surpassed their ATH, their value will increase many times so master technical analysis and have trading options to ensure risk.

sumant

copper member

Activity: 770

Merit: 1

It is very bad with you that so much money has been lost. I wish that your 100$ goes to 17555$ in future. We don't know which point you make entry because in previous months market is at all time high and when this trend is going everybody knows that market can pullback any time because big investors are in profit now and they will eat your money very easily and whose money you eat nothing. So always go for a active project. take entry at their deepest when panic sale going of that coin and hold you always make money.

lalabotax

full member

Activity: 1582

Merit: 132

BK8 - Most Trusted Gambling Platform

So sad to know this, and many people also experience this.
Well, it is risky to use a loan for crypto trading or investment.
It is risky to trade with panic and also greediness.
It is risky when we are all into trading and investing.
Because of the risks, we must be aware at first that someday we may be losing our money very easily.
but, in fact, we can also still getting profits.
The matter is how we become ready and smart in trading. The market of crypto is always volatile, there will be always a dump and pump. We cannot expect for increasing price always.

numanoid

legendary

Activity: 1890

Merit: 1148

Quote from: Erdogan on May 29, 2021, 11:24:53 PM

Another example of taking crypto trading so easy. People think that crypto trading is just buying at dips and selling at high, they totally forget that it's very hard to find what's dip and high. The biggest mistake made by new comers is that they jump in with huge money without having any experience and knowledge of trading and ends up losing it altogether.

You don't get what OP mean. He was over confident about his pick but in the end he lose his money due to huge leverage he put, he is putting risk to lose his money aka Go big or go home just by his instinct bitcoin will up again in very short time. Sad for him to lose that amount, if he was patient enough, he could make decent profit because bitcoin has touched $64,000 few months later.

Erdogan

legendary

Activity: 1512

Merit: 1005

Another example of taking crypto trading so easy. People think that crypto trading is just buying at dips and selling at high, they totally forget that it's very hard to find what's dip and high. The biggest mistake made by new comers is that they jump in with huge money without having any experience and knowledge of trading and ends up losing it altogether.

Topic: Lost 17500$ during recent downswing, Now completely broke. - page 2. (Read 1127 times)