As long as you can manage your money, you can easily limit your loss.
Trading is not a good way to make money quickly. You need to be calm. Making a profit of around 1-5% / day is good already, as long as you not rushing it.
In trading If you greedy, I'm sure you will be losing more.
Topic: Many new traders are playing to lose - page 10. (Read 1971 times)
What kind of trader was your friend? Swing trader? Did he instantly lose all the $100? If he is a typical trader he can still hodl and wait for another pump. But if he is a margin/swing trader. Necessary precautions, not hastily entering the markets, good technical analysis was needed and possible that he might lose that $100 in an instant because of wrong entries and strategies.
I also started trading in the same way. This is really a very big mistake. Unfortunately at that time there was no person around who could tell me what to trade in this way is not worth it. Much easier now. There is a lot of information about trading online and it will not be difficult to find a mentor who could teach you everything.
Before buying cryptocurrencies, your friend should have learn how does trading work by trying trading with a demo account on some exchanges. And you can't always win immediately. He should study more about how cryptocurrencies work too and be patient before taking a decision. And he should accept the results of his actions.
Cryptocurrency trading does have a very high risk, we can lose money if we are not good at analyzing and buying coins for us to trade. Moreover, your friend is a beginner. You should guide your friend so he doesn't lose his money.
As sad as it sounds but many are trading to lose. Some think trading is something you jump into without any prior knowledge or guideline from an expert. They say knowledge is power therefore to win in trading one needs to seek the knowledge first from experts. I think you should talk to your friend to first learn all about trading before he ends up lossing all capital.
Newbies lose in trading because of lack of experience. They only see the good side of the picture while completely ignoring the other side of the image that they have a chance of losing too. I myself have made those mistakes in the past and have learned from my them so it is essential to learn from your mistakes.
You should be give an advice to your friend that as you says trading is not something can do with rush and there is no instant way how being to expert traders so it took plenty of process to reach as good traders and losing the money is became an common thing in trading but do not give up and learn from the mistakes is necessary to makes us better
I play to win but what often happens is losing. I like to trade in binance and use bitcoin to minimize losses because the current price of bitcoin is increasing. related to trading, I think we must have extensive knowledge before doing so and never be greedy if you see an opportunity to sell immediately.
Trading cryptocurrency requires a great deal of patience and skills, one needs to learn the basics and hope to grow in a the process. I remember the time I started trading cryptocurrency, it wasn't an easy process learning how to set trades and I can say it takes some extent of luck to be a good trader.
The same thing happened to my friend. Usually, he doesn't trade but recently he found a signal group, where he saw some successful signals! So, he decided to start trading without knowledge and he ended up with lose! Trade needs experience, knowledge about the crypto market, price chart and patience. New people should gather these virtues before trading!
It's true that most of new traders are in lose on crypto-currency trading. To be honest whales are getting benefits from tradings. It doesn't mean other people's are not gaining. But you need to be a experienced person in order to get profits from crypto-currency trading. If you just trade like glambers then most likely you are going to lose your fund although its depend on your luck. But fortunately you need to learn market analysis for be a good trader.
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When traders don't learn about trading, he will lose his money in trading. That will happen too with the new people who want to try trading because many new people don't know where they can learn more about trading so they cannot make their first profit. But if they can get a good lesson about trading, I am sure that they will be able to make a profit in the next time of trading. Not only that, they can get a bigger profit by choosing the right coins.
My opinion you are right thinking so many new traders available falling lose. because they are don't know about good quality coin. which coin future must can do pump they don't know. when any body want to trade need to more known and big patience and wait. need to invest big capital different quality coin. if any coin bear market do dump, other coin can do pump then we can recover our capital. so carefully need to trade.
Are you playing to lose or you are playing to win? a friend of mine lose all his bitcoin to trading and when he started complaining about i decide to take a look and i detected that he traded in a gambler's way.
He has 100$ and he traded just twice with 50$ which results in quick lose,im not an trading expert but most trading platforms always warn traders to limit their trading to the highest of 10$ which would have given him more chances to continue trading
Apart from not learning how trading works he is playing to lose,i think this is what many newbies are doing as well,if you are doing the same you will always end up losing your money,if you want to bet 50$ on a trade you must have thousands of dollars on the trading platform not trading with 100$ and be praying for a miracle.
Trading is not something you can rush,expert traders out there spend days trading for profits and if a particular day is full of loss they quit trading for that day.
He has 100$ and he traded just twice with 50$ which results in quick lose,im not an trading expert but most trading platforms always warn traders to limit their trading to the highest of 10$ which would have given him more chances to continue trading
Apart from not learning how trading works he is playing to lose,i think this is what many newbies are doing as well,if you are doing the same you will always end up losing your money,if you want to bet 50$ on a trade you must have thousands of dollars on the trading platform not trading with 100$ and be praying for a miracle.
Trading is not something you can rush,expert traders out there spend days trading for profits and if a particular day is full of loss they quit trading for that day.
You are right about your friend, if a person does not have or has little trading experience, then you should not trade all your money at once. In this case, a person should divide his money into many small parts, and trade each part separately, in case of failure you will lose only a small part of your money and will be able to trade further.
In my opinion to become a good trader with altcoin , first you need to boost your confidence because it's not easy especially on this current situation of market . And second be yourself which is don't rely on others opinion and thoughts . Always look for ways and build new strategy to reduce risky situation. ( Learn how to fundamental and technical analysis ) because that is the most important. Lastly don't panic and always control your emotions.. like what i said build new strategy instead to protect your portfolio and to reduce risky situation. That's it the basic rules i know mate. Think positive goodluck!
Success and rich instantly is one of the worst mind. Sometimes we not patience with process and dont want to learn. This fact will bring us to wrong decision. We all know gambling is one of the most high risk system. But all is depend on how we will put our money for,we cant control other people. From this maybe your friend will more be careful.
Lack of knowledge and strategy are the problem why he end up losing his money. Trading is like gambling but you can set a plan to prevent yourself from losing your money.
Trading is not easy as it seems, however mistakes are normal because thats how you're going to learn.
So before you decide to trade have a research because there's a way to do it right.
Trading is not easy as it seems, however mistakes are normal because thats how you're going to learn.
So before you decide to trade have a research because there's a way to do it right.
Are you playing to lose or you are playing to win? a friend of mine lose all his bitcoin to trading and when he started complaining about i decide to take a look and i detected that he traded in a gambler's way.
He has 100$ and he traded just twice with 50$ which results in quick lose,im not an trading expert but most trading platforms always warn traders to limit their trading to the highest of 10$ which would have given him more chances to continue trading
Apart from not learning how trading works he is playing to lose,i think this is what many newbies are doing as well,if you are doing the same you will always end up losing your money,if you want to bet 50$ on a trade you must have thousands of dollars on the trading platform not trading with 100$ and be praying for a miracle.
Trading is not something you can rush,expert traders out there spend days trading for profits and if a particular day is full of loss they quit trading for that day.
He has 100$ and he traded just twice with 50$ which results in quick lose,im not an trading expert but most trading platforms always warn traders to limit their trading to the highest of 10$ which would have given him more chances to continue trading
Apart from not learning how trading works he is playing to lose,i think this is what many newbies are doing as well,if you are doing the same you will always end up losing your money,if you want to bet 50$ on a trade you must have thousands of dollars on the trading platform not trading with 100$ and be praying for a miracle.
Trading is not something you can rush,expert traders out there spend days trading for profits and if a particular day is full of loss they quit trading for that day.
I just wish your friend has known better. It's not healthy to trade like that. It's like putting all eggs one owns in a single basket and throwing it across a field, and expecting none of it to crack. What he did is not the proper way to trade. when one wants to trade, you should trade with an amount you can afford to lose and if you have lost severally for a day, you should stop. Take a break because the optimism that things could still work out for you to win might actually be disappointing. There is a thin line between trading and gambling. One has to be learned about trading to be able to do it right
At least he will learn something about that. But maybe a lot of people face something like what your friend do too. Especially if they can get their first profit. My friend after get his first profit, really confident about trading and use all his money. I already warn and i said it is better to get a lot of capital first with earning coin but like what peoples do, they try it by themself and then lose in trading because don't know basic or maybe strategy in trading. Only know buy and sell coin.
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