Topic: My trading experience (Read 365 times)

Many traders have the same experiences like yours. In fact, I also made some trading mistakes in the past. What important is that we learned from our mistakes. Those learning will help us to become a better trader in the future. Never lose hope because of your mistakes. Stand up and move on. You'll never know, you will be a millionaire someday because you didn't give up.

I understand that just like any kind of trading, cryptocurrency trading can be too risky especially for newcomers but since I can feel that you are willing to pay the necessary tuition fees here so I guess you are now using what you've learned to make more lucrative moves later. Trading this year will never be the same last year as the market is always evolving. This year things are different and I am sure you are noticing this trend. I am wishing you all the luck in this world in cryptocurrency trading.

You should never do that stupid thing again, mate
there's a good idea you panic, but do not ever sell it, the natural thing.
I am sure you will learn from your experience, everyone must have felt the loss in the first time.
Always remember the traders' motto, buy cheap sell high okey.
Holding it rights is the best way for traders whose assets are down. Buy coins that have great developing potential, such as xrp, iota etc.

This is the major flaw of new investors that they are not aware of these so called amazing coins. They are just there to ruin the money and that too hard earned of innocent people. Never ever go for such altcoins that are not famous and are not having very good support by investors. Bitcoin is undoubtedly the most successful and useful coin in the crypto world because of the massive support it is enjoying throughout the world.

Mate really sorry for your loss but the main thing is you invested into the wrong coin invest into the bitcoin so that this coin will assure you to give a lot of money in shorter time span and the choice of coin matters a lot and if you really want to cover that loss invest into bitcoin and this will give so much profit in shorter time and you can ask here in forum to anyone he will recommend you bitcoin because it is very effective.

A lot of other people fall victim of panic selling. It's hard to control your emotions especially once prices go down and you see all your money go down the drain. The panic seller's attempts to cut losses has only hurt them more in the process and makes them end up losing even more. Unfortunately, FOMO takes over and this is what kills the newbie traders.

Arbitrage is just one of the few trading methods out there, and if it's suitable for you then I'm glad you were able to resume trading despite the experience that you've had and the amount of assets you have lost.

so sad I also lost my money after buying xrp, but after 3 month xrp goes high, so now understand if I hold this mire then 3 month then I will take cover my lose easily,. and I agree with you, don't buy 1 coin buy atleast 4/5 coin if gain.

Yes it's all about learning from your mistakes.I will follow your stips. Looks promising
Panic is the devil ....

Panicking is one sure way of losing almost all of your money when trading and it's also not a good idea idea to buy a currency just because almost everyone is buying, it's good to do a bit of research before you buy and holding over a long period of time most of the times gives some very good profits in the end.

Yes you are right mate, you should not be panic if bitcoin price drops, don't worry you can still recover your lost because you know what to do next if bitcoin price goes down again. And thank you very much for the story you shared with us. good luck by the way.

All those mentioned tips aren't an accurate to be followed by most of the traders around the marketplace, but I think reality always speaks about what will happen specially when panic decisions happened. Well we really need to have definite decisions in order to achieve those ideas shared here, we need not to make it as a rule but, we should make it as a daily tools so that everything with trading might be worth it.

Well, to be honest, you were not trading like a trader you were just gambling and nothing else. Actually, your trading experience shows that you were not trading like a professional trader which you were supposed to do and I also noted that when you bought all your coins at the starting by investing $500 in binance you were not having a good trade plan and there was no proper reason to buy and sell the Crypto coins you were buying because of pump and dump in prices which were not important at that point of trading.


For best in the trading field you need these 5 things to be added in your check list, as all these five things are pillars of success here in the trading.
1) Solid Trading Strategy
2) Trade Plan
3) Money Management Skills
4) Reasons for Entries and exits.
5) Journal

It's crazy actually, my story is very similar to yours. And I read about so many other experiences that are like that : you start successful, then FOMO hits hard and you lose so much because of it.
I read about TRX in another forum and bought it when it was tooooo expensive. But hey, everybody was saying "it will go to the moon" so I believed in that. Long story short: I sold it too cheap and lost a good amount of money.

Recently read something about cut - loss strategy and I think this is very smart. Know your boundaries.

this is a good story for you and I really like it, I hope that we can learn from your experience so we can prevent something bad that might be happening in the future. from the story, I realize that many people are chasing the big profit at the instant way so they use everything they have to get that profit without thinking if this is a good for them or not.

from the list, I see 20% IOTA, 20% XVG, 20% TRX, 20% XLM, 20% XRP is a good percentage that you have and if you have patience for a while, now you can make a big smile because each of coins is increased now and you can sell it for the half amount to get your investment money back to you so you can invest in another coin.

but now, I see that you are learned from your mistake and I really hope that you don't do the same mistake and I hope that you can make a big profit from now on. just be patient for a while and always check the trend and the price before you want to buy or to sell.

I love it. It's so normal, we have the same experience when I just started in trading. But I never tried arbitrage method. I just started my trading experience in bittrex and I just bought and bought, but the only thing we are different is I never get panic, I only hold and hold for how many months and after how many months, I just sold my coins in loss. I'm so super sad about that time, but it is okay. Well, you learned your lessons, you should apply that nextime. Good luck mate.

yea I realised that to late
Exactly that what i have learned after all I wish I met you a month ago..
I will resume trading after building a new capital by arbitrage 
My main problem was getting rush anto any pumped coin

That is a story helpful for new trader.
Thanks your share. Good luck to you!

now you know what to do mate.  Lol and i think that is a good example to anyone who always panic to sell when the price is dumping , and also to those who invest all their capital without strategy and knowledge what will happen at the end.  So to prevent a huge loses we must buy what we afford to lose .. And make sure that before to trade make some analysis always to ensure when will be the right time to sell.

I am not an expert in trading, I am just a part time trader that trades when I have extra BTC and trade for a short period of time but let me quote a part of your post to let you see your mistake.



You chase the ones that are already pumping, which is very risky. You bought when the price is still high then price dropped and you are holding a bag of expensive coin. Learn to use the tools available out there like RSI.

Don't put all your money in 1 basket, distribute your money so if one fails to give you profits, other coins may help your recover.

Nice story to share. That's the risk in Trading if you use your Emotion you'll probably lose everything. @OP I suggest not to stop the trading since you have learnt something you'd be more cautious.

Good experience, thanks for sharing. That very true, before buy any coin should be thinking twice and use technical analysis to know the price on bearish or bullish trend and important to put the money in to minimum 3 different coin to minimize the risk.  And most important thing learn how to manage your emotion and dont be greedy. Also use stop loss in every trade.

Good story, thanks for sharing your experience. I think everyone new in crypto comes through something similar: you lost you first money on trading trying to get rich fast then you realize this  just dont work like that.

Yes that what i realised at the end. That there is alot of pump group that tries to pull any one into the pumping to get there money -_-

My advice is instead of using all your funds just for day trading use some portion of your funds to buy some good coins and hold them for long-term. Because many times we can't time the market so if you buy and keep them then can sell at a very good high price later on. I only use around 10% my funds for trading and rest all invested on long-term coins.

I am just happy with the way you explain all of your activities in the past couple of days and even though short, you have learnt something great which is touching the highest ebb and losing all. When it comes to trading, it takes some amount of confidence before one can make profit and I have learnt that for the fact that a coin is rising does not mean its just going to continue like that because such increase might be as a result of some pump group some where especially when the coin is not popular one. You might end up making money for other people.

Yup that exactly what happend to me i fall hard lol
Right now I only aim for 4% of any trade

Its really hard to do short trading because you can't avoid panicking. You must put always a limit to cut your losses and take only a little gain like 3%-5%. And never chase a coin that is pumping fast because it will eventually it will fall hard.

Yup I have learned alot of things.

She/he is not an experienced trader yet don't judge him/her too quick it is not easy to control your feelings towards your money she/he earned it with all his/her heart and yet she/he keep losing some of it. One thing i agree set long term holds and no matter what the value sell it if you need too. Indeed trading is losing sometimes nothing good comes out of it.

At least it was a good experience for you.

Losing is part of the trading exactly. As i mentioned in the post that the most important thing is patience. At the end I just wished that any one told me your words before pumping into the trading world and losing all of my money. But no pain no gain

You need to have patience. Hopping on pumps will most likely get you burned unless you were already in that coin before the pump then you can easily sell. You need a whole lot more practice and you will have to learn that losing is part of the trading game. Do research on coins. Set more long term holds in your portfolio that way you can just wait until the time is right to sell. Good luck.

Yes exactly, That is the thing that I was missing when I started trading 

Sometimes it's better to hold coin for the longer periods of times. As a simple retail investor, it can be very difficult, risky and stressful to follow the hot money.

 I have started with 500$ on Binance at the 2nd of Jan. I started with good portfolio..
20% IOTA
20% XVG
20% TRX
20% XLM
20% XRP
After two days my balance reached 850$  
The 3rd day I Saw my balance get lower and lower I got panic.... so I sold all of my assets at 680$ and Invested all of it at TRX when it was Pumping.
The 2nd day I woke up and the TRX was dead with a total balance 430$ so I sold it  

Then after some search on google I have found someond who provide Signals for a Paid subscribtion. I got in.
I made some good money my total assets was 900$.
Then i saw BCD!!!!!! Pumping so fast so I acted like a dump and sold all of my assets and invested in BCD. After 3 hour it got dump. I was freaking out do i sold all of it gor 280$

Then after alot of failur my total assets was 20$

So I left the trading world behind.
After reading about arbitrage. I have been analyzing Cryptopia and Coinexchange markets for arbitrage  so I sent all of my fund to Cryptopia 17$ and started the arbitrage. My first abritrage was a big failur!!! I tried in Fazzcoin.
After sending the transaction I have waited for more than 3 hour and it was 0/25 confirmation!! After searching on google i founded out the the coin is dead   And I have lost all of my money...
Then I bought some Btc at 18 Jan
0.00166 that is the total amount..
And started the arbitrage once again but with a bit more knowledge.
I have turned those 0.00166 btc to 0.013 in less than 10 days   Befor attemping any transaction i must open the explorer and see how it takes to get confirmed "By viewing the recent transaction"..

The most important thing I have learned is don't ever ever get panic and patience is your only friend in trading and don't ever invest in one coin with all of your capital