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Topic: Lost of my capital has made me to have a change of mind about Bitcoin . - page 2. (Read 495 times)

sr. member
Activity: 588
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Even if what I'm about to say will surely sound like a repetition of what most members have already told you on this thread, it's still the fact, because I'm retelling you what they've told you already. For now as a newbie, just focus on increasing your bitcoin knowledge and investment, all you need do is accumulate and hold, in bull run, you sell and make profit, sounds quite simple right, and that is what it is. Only difference is that you'll need to probably hold for a longer time to maybe wait for bear run to pass, then wait again time for the perfect opportunity for you to sell and make profit. Unlike bitcoin trading where you can can make that profit on a shorter term, but as you've already learned from your experience, it comes with it's own risks, of losing your hard earned investment capital, as is in your own case.

I've been in this forum now for a while, and despite the interest for me to venture into bitcoin trading, I always caution my self to still stick to the investment mode, I've however given my self a time frame before trying to trade, and that time has not come, i need to equip myself more about the dynamics of trading before going into it. I'm not in a hurry to take that risk now, despite its reward, because I'm not in a hurry to lose all my money.
hero member
Activity: 2786
Merit: 657
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I went through those stress to also learn how to analyze and also to know bullish and bearish moves ,to know when the market is trending and choppy but after all these processes and following those strategies I will still loose my capital .
That's one thing about crypto, it could be your safe haven and it could also be your worst nightmare but the use of stop loss or the hodl strategy would help during the bad experience market.
Nevertheless, crypto trading is not for everyone and we need to be sure if trading is for you.
 
However, my question here is ' what is the best strategy to trade without losing my initial capital ?.
Nothing can guarantee you not lose your initial capital but there are things that will always increase the chance of you not losing your initial capital. Which are choosing the best crypto to trade, apply risk management, prevent emotional decision-making, apply stop loss, make use of both technical and fundamental analysis
hero member
Activity: 2814
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Greetings to everyone,please i am new in this forum and I was directed by my friend to join the forum to get information and answers that I need to know about Bitcoin.
The challenge started when a friend introduced  cryptocurrency to me and I picked interest about it ,I  started making some researches on how to trade and invest in Bitcoin ,I downloaded candle stick bible as directed by my friend so I can have a good knowledge on how to understand the reasons for the formation of each of those candles  And the reasons for their existence,
I went through those stress to also learn how to analyze and also to know bullish and bearish moves ,to know when the market is trending and choppy but after all these processes and following those strategies I will still loose my capital . However, my question here is ' what is the best strategy to trade without losing my initial capital ?.
 Please friends I need advice and answers to this question because I know we have crypto experts here in the forum who will assist me and also educate me on what I need to know about Bitcoin trading .Thanks .
There's no certain strategy that will prevent you from losing in trading most especially if you are still in the process of learning to trade. Trading is learned in a hard way that you need to lose a lot first before you are taught on how to trade the right way. That is why it takes years for a trader to become  a pro trader and become profitable on his trades. Those who can't be patient from losing a lot have end up quitting from trading and just focus on investing and long-term hodling.

Experience will make you a good trader in the process. But it does not mean that even if you become a good and professional trader, you will not experience losses in trading. Losses are part of trading and you can't do nothing about it but learn to accept the reality.
hero member
Activity: 1008
Merit: 622
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Personally op I wouldn't advice you to continue with trading or looking for the best strategy to avoid loses in trading when you have know knowledge on what you are trading. Stop gambling wieh your funds and get a good knowledge on trading to ease your way to understand the market more.

There are no perfect strategies to trade rather getting the right knowledge can help you to know when to trade and when to stop trading so you need to get knowledge first. If you have spare money you can invest in Bitcoin with some amount instead of wasting it in trading when you lack knowledge on trading.
hero member
Activity: 2156
Merit: 670
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...However, my question here is ' what is the best strategy to trade without losing my initial capital ?......
Sorry to say this. But, you must know this:
There will always be a risk of losing your trading capital when you trade cryptocurrency, because it is high risk. No one can guarantee you zero-risk for trading.

If you don't want to lose your capital, what you need to do is invest in Bitcoin by holding BTC, not daily or short term trading. Currently, the calculation is that we are still in a bearish period, although not in the bottom era. but at least, this is still below the bullish ATH of last season's era. In terms of schedule, it is possible that a bullish era will occur next year or 2 years, after the Bitcoin halving. This is on a schedule, yes, but still no one can be sure when the exact time will be.

So the point is, do holding, not trading, especially trading in the future market. If you hold in a spot wallet or in your personal wallet, as long as you still hold the BTC and don't sell it, your assets will remain safe and not lose. Even though when you check your wallet, the value may change, sometimes it goes up, sometimes it goes down. .because that's how Bitcoin is with its price fluctuations. However, remain patient and hold the coin correctly until one day the price really rises and increases according to what you expected. Learn more about bearish and bullish times in general, and learn about previous Bitcoin ATHs. Keep your hope and be patient, because there is no comfort zone in the crypto business.
hero member
Activity: 1652
Merit: 569
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This is a part of trading and everyone at certain point incur loses, henc eita not everyone's cup of tea. There are dozens of indicators in the market and all of them have risk factors and your candle reading ability will help you take decisions when combined with indicators but it will not be accurate because if that's accurate then everyone will be rich.

You may win multiple trades and accumulate profit but one bad trade at wrong time is enough to break your portfolio and ruin your capital hence it requires us to be mentally and emotionally be prepared before taking entering trades with your do's and don'ts, never go with full capital as we may have to indulge in reverse trading if the market is in downward trend after we take entry.

For now, try listing out the mistakes you made and have a solid plan of action for further trade by avoiding same mistakes again because it's little bit difficult to digest one can lose capital in Bitcoin trade which is one of the most secure coin in terms of volatility unless you indulge in future.
legendary
Activity: 2268
Merit: 1655
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...However, my question here is ' what is the best strategy to trade without losing my initial capital ?...

There is no trading strategy that is guaranteed to bring you profit. But by adhering to the rules of risk management, you can reduce the chance of losing your money, which can directly affect your profit. But if you are not good enough at trading, then the best solution is not to trade, but to focus on hodl.
hero member
Activity: 1022
Merit: 600
The challenge started when a friend introduced  cryptocurrency to me and I picked interest about it ,I  started making some researches on how to trade and invest in Bitcoin ,I downloaded candle stick bible as directed by my friend so I can have a good knowledge on how to understand the reasons for the formation of each of those candles  And the reasons for their existence,
I went through those stress to also learn how to analyze and also to know bullish and bearish moves ,to know when the market is trending and choppy but after all these processes and following those strategies I will still loose my capital . However, my question here is 'what is the best strategy to trade without losing my initial capital?
 
Losing is part of the process of learning and trading, even professional traders lose money, don't feel bad when it comes to that, but it is bad if you lose more than you profit which I think is the category you find yourself in. For you to lose a trade there is something that you are getting wrong which you need to work on.

Therefore,  before you think of profiting,

1. You need a good trading strategy that works, meaning you have tested it over time and it proves to be 70%-90% in accuracy.
2. You need discipline and do not be greedy.
3. Apply proper risk management by using small lots size /leverage and stop loss too.


Lastly,  Knowledge about Bitcoin is not just about downloading the candle stick Bible as you did, You have to know about the fundamentals also to begin with your journey to Bitcoin and cryptocurrency investment. The market that you are dealing with is a risky one and this is something you should be aware of, or else you will burn your hand as a result of doing the wrong thing.
sr. member
Activity: 728
Merit: 300
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However, my question here is ' what is the best strategy to trade without losing my initial capital ?
Trading is not easy to just put your investment and after an hour take your profits. It is a collective process of strategy, knowledge, emotional control, tolerance, news related to the projects, and the identification of factors that affect the price. In your case, you said you have a better knowledge about the trading but I think the other factors are missing. It does not mean the strategy which is best for your friend is also suitable for you. There are many strategies that you can choose according to the market that as swing trading, day trading, and long-term investment, and 99 percent of new traders get losses because of using the wrong strategy

For your question, I recommend some strategies that you use as a beginner. One is Active trading, the second is scalping, the Third is swing trading and the fourth is day trading. All these strategies are useful at the beginning stage and give you a good profit but according to me scalping is best for you as it depends on a small move in the market and the period of this strategy is maximum, I think 1 minute. If you are willing to use the strategies that I suggested then please do some more research on it and confirm whether it will fulfill your desires or not.
legendary
Activity: 1932
Merit: 2354
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OP, I recommend you to read 1miau's topic: Trade vs. HODL - avoid traps.

You will find a lot of information here in this forum, but the post above is short and easy to understand, so I would start from there. As a beginner, trying to apply the candle theory and different tactics from Technical Analysis won't work in most cases. More than investing, trading this way is like gambling. There are different opinions here, but to me TA is nothing mote than pseudoscience.
legendary
Activity: 1498
Merit: 1116
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Traders always loose money, not just crypto traders, but also forex traders. Loss of capital in trading is not peculiar to bitcoins alone.


However, my question here is ' what is the best strategy to trade without losing my initial capital ?.
To be a trader, you have be prepared and be ready for the losses. There is no sure strategy to ensure that you never loose, each strategy is to reduce losses to the barest minimum and also the frequency of losses, so you make more profit than losses.
legendary
Activity: 966
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OP, After Scanning your Post I can be sure that initially, you've started in the wrong direction, rather than focusing on learning about Bitcoin and its technicality, you've picked it as a trading asset and started working on the trading skills, like learning about the price action, TA, etc.

You should have learned the basics of Bitcoin and done some research about the characteristics of Bitcoin, to analyze if is it worth investing in as a long-term opportunity. Now you are seeking guidance about not losing the initial capital, buddy changes the perspective first of all if you want to survive in the crypto market as a beginner, after a couple of months you can get back to whatever you want, Analyze it as an investor, not as a trader, then try it with DCA for some time it will defiantly work.

If you still want to continue as a trader better learn about risk management trading is not at all risk-free because in the short period in trades, and keeping market volatility in the count no one can guarantee you anything even not with Bitcoin. After all its an open market sentiment that changes every minute. So my friendly advice is to focus on your goal, decide first on a trader or investor approach, then if you want to be an investor go with DCA I'm 99% sure it will work for you, if not, and want to try as a trader better focus on aging some trading skills than you'll survive that's all.
hero member
Activity: 896
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-snip-
I went through those stress to also learn how to analyze and also to know bullish and bearish moves ,to know when the market is trending and choppy but after all these processes and following those strategies I will still loose my capital . However, my question here is ' what is the best strategy to trade without losing my initial capital ?.
 Please friends I need advice and answers to this question because I know we have crypto experts here in the forum who will assist me and also educate me on what I need to know about Bitcoin trading.
What you are going through is what every newbie goes through, they get to be introduced to trading without proper guidance and are wasting money on it. Well, I advise you not to be discouraged but to learn more about it, and who knows, you might be a professional trader someday. But that's only if you believe, find the right resources and be ready to learn.

I lost fortunes trying to learn and trade the financials for years, but today, I am happy I went through all that. This is to encourage you and to tell you that success is possible in trading, and so is failure.

And before going to my advice for you, there are two ways you can trade your Bitcoin, you can either invest it (buying it and keeping it in a wallet) or trade it. I believe you were trading it and it's the riskier choice. If trading is not working for you, you might want to try investment. However, it would be helpful for you if you could Google and learn the following, they will help your training and trading journey;

1. Price action,
2. Support and resistance strategies,
3. Specifics: Trendline,
4. Trading management (money and risk),
5. And trading psychology.

All the best!
legendary
Activity: 2478
Merit: 4341
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I went through those stress to also learn how to analyze and also to know bullish and bearish moves ,to know when the market is trending and choppy but after all these processes and following those strategies I will still loose my capital . However, my question here is ' what is the best strategy to trade without losing my initial capital ?.

I don't understand what you mean by knowing when the market is trending because that isn't something that's hidden that you need to learn. When we're in a bullish market, it's very obvious as everything will by pumping even projects that are as bad as nothing like memecoins will be pumping. You were too invested in making profits and you thought trading will give you that very quickly as maybe the person that introduced you to the market told you but he forgets that not everybody that's a trader makes profit.

Statistically, we have more people losing than making profit because they don't understand the market or didn't get the proper orientation before they started trading like you. The best way to invest is by Hodling and not trading. It seems you haven't learnt your lesson because I see you still want to go back to trading with the questions you're asking. Since you lost your capital (which isn't something that's new as new traders has the tendency to lose their first capitals) and you said you have had a change of mind, I was thinking you wanted to shift your attention form trading to investing and you're seeking for assistance.

I'll suggest you try DCA strategy instead trading as you look to accumulate Bitcoin now that the price is cheap to afford a whole Bitcoin as the bull market is around the corner and the price of Bitcoin won't be as low as it's trading. Learn trading when you have settled down and understood the industry well not at the start of your journey.
hero member
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~snip~
I went through those stress to also learn how to analyze and also to know bullish and bearish moves ,to know when the market is trending and choppy but after all these processes and following those strategies I will still loose my capital . However, my question here is ' what is the best strategy to trade without losing my initial capital ?.


Your friend didn't do you any favors when he filled your head with stories about how you can make a ton of money trading Bitcoin without first explaining some basics about Bitcoin. Instead of starting from the basics, you got into trading, which is a challenge even for real professionals, let alone for beginners.

If you don't change the way you approach all this, unfortunately you will lose all the money you invest in trading - but that doesn't mean you have to give up Bitcoin, because why not buy and keep it until the price rises and then sell it - or use it for that what was it invented for, as currency.
As Lucius also mentioned, your friend wasn't much help. If it was his or her advice to start trading, then you were thrown under the bus. Trading is frustrating even for experienced users, let alone someone who doesn't even know the basics. I also experienced losses when I first started; it was annoying, but you need to understand that it's more than buying low and selling high; things don't always go your way.

Although it can be extremely profitable, it's also very risky and stressful, which only a few people can successfully handle. I used to trade until a few years ago but stopped, even though I had made a few successful ones that yielded decent profit. I'd advise you to start investing, preferably through DCA (Google it for more information), and stick to a budgeting plan to acquire more BTC in the long run.
legendary
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I downloaded candle stick bible as directed by my friend so I can have a good knowledge on how to understand the reasons for the formation of each of those candles  And the reasons for their existence...
I don't know if you've checked out the babypips.com site. Well, even with the complete knowledge of candle patterns and interpretations; there's still no guarantee that you won't lose money from time to time. There's no profitable trader who doesn't lose money back to the market. That's why Stop Loss (SL) exists. It isn't meant for noob traders alone to use. Anyway, welcome to the club. You've had your first taste of reality and of the fact that trading isn't a shortcut to riches. You shouldn't run. Quitters don't win. Rather, you should brace up and find out what made you that loss. Have a trading journal and plan your trades by taking and keeping records.
legendary
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I went through those stress to also learn how to analyze and also to know bullish and bearish moves ,to know when the market is trending and choppy but after all these processes and following those strategies I will still loose my capital . However, my question here is ' what is the best strategy to trade without losing my initial capital ?.


Your friend didn't do you any favors when he filled your head with stories about how you can make a ton of money trading Bitcoin without first explaining some basics about Bitcoin. Instead of starting from the basics, you got into trading, which is a challenge even for real professionals, let alone for beginners.

If you don't change the way you approach all this, unfortunately you will lose all the money you invest in trading - but that doesn't mean you have to give up Bitcoin, because why not buy and keep it until the price rises and then sell it - or use it for that what was it invented for, as currency.
hero member
Activity: 672
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The challenge started when a friend introduced  cryptocurrency to me and I picked interest about it ,I  started making some researches on how to trade and invest in Bitcoin ,I downloaded candle stick bible as directed by my friend so I can have a good knowledge on how to understand the reasons for the formation of each of those candles  And the reasons for their existence,
Anywhere you go all you will hear is that Bitcoin trading is not for newbies else you will just end up losing your money. It is advisable for newbies to invest and hold their bitcoins for some period of time. You did well trying to learn before trading but it is still not enough as learning about trading requires a long period of time. You will have more experience when you make mistakes and learn from your mistakes. There is more to trading than just investing so I advise you go safer by Hodling your bitcoin.

my question here is ' what is the best strategy to trade without losing my initial capital ?.
There is no any strategy that can guarantee you that you will not lose money. Trading is very risky and your friend who introduced you into it should have told you about the risk involved in trading and you need to spend months learning about it before you should even start trading. No matter the strategy you adopt losing money is inevitable and even trading experts lose money but the only difference is that they take calculated risks and possibility of losing is being reduced.
sr. member
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Greetings to everyone,please i am new in this forum and I was directed by my friend to join the forum to get information and answers that I need to know about Bitcoin.
The challenge started when a friend introduced  cryptocurrency to me and I picked interest about it ,I  started making some researches on how to trade and invest in Bitcoin ,I downloaded candle stick bible as directed by my friend so I can have a good knowledge on how to understand the reasons for the formation of each of those candles  And the reasons for their existence,
I went through those stress to also learn how to analyze and also to know bullish and bearish moves ,to know when the market is trending and choppy but after all these processes and following those strategies I will still loose my capital . However, my question here is ' what is the best strategy to trade without losing my initial capital ?.
 Please friends I need advice and answers to this question because I know we have crypto experts here in the forum who will assist me and also educate me on what I need to know about Bitcoin trading .Thanks .
The last time I read something about newbies and trading was when someone posted that people are discouraging newbies from trading, OP this is one of the reason why we advice newbies like you to stay away from trading, it's not that trading is bad but it is more captivating for those who are looking for money fast, they don't have the patience to learn trading to the level of qualification before they start trading, some even fool themselves on the half way that they know trading until they face the biggest challenges of their lives through trading,

For crypto beginners it's risky to start trading, it's a long process for those who are really determined to learn trading so since you are here now its better to just buy some bitcoin and hold for long term and that's enough time for you to start your trading lessons with no rush, I don't have any trading strategy for you than to take it slow, the reason why people don't get trading is because their mind is on making money fast.

Find some money and invest in Bitcoin, this gives peace of mind because you have something to fall back on while you are concentrate on learning trading, believe me trading requires time and sluggish way of learning, there is a lot to learn, one take away is you should learn how to use stop loss, even if it's futures trading you will not always lose everything on a wrong call, still it's better to take your time to learn it, you can't risk it out.


hero member
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There is no best strategy for trading without losing initial capital, as all gamblers have probably experienced it. Some traders have even lost all their initial capital so they have to start all over again. But that doesn't make them despair because they can learn from their experience. They decided to practice and practice their trading more actively to improve their analytical skills.

You also have to be able to practice your analytical skills by trading. But you should also know that trading is not for everyone because many cannot learn more about trading. If this happens to you, maybe you should focus on the investment so you won't be watching the market too often. You can use the DCA method for your investment.

If you still intend to become a trader, you must be able to learn to analyze. As traders, we must test our lessons more often to find what works for us. And that takes time. There is no quick way to become a professional trader.
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