Topic: Need help with trading - page 3. (Read 709 times)
If you are good at trading and you got some profit after all, then you should keep some profit at least 50-60% for the big coins like bitcoin etherium etc for which you can earn a lot and that money will be save for you.
The true test is to consistently make money in any market condition. Which is what most people can't.
You're a trader if you can.
True.You're a trader if you can.
Not everyone can make money in any market situation. Mostly are aggressive during the bullish run and makes the best out of it.
But when it is bearish, it is the hardest time to make because you are mostly buying and won't be selling.
Now I have realized my mistakes, firstly I did not lose my funds because of my strategy. As a matter of fact my strategy was right but I got carried away by my emotions, I paid more attention to the profits rather than proper market analysis, am gradually recovery now as the market picks again. This weekend is going to be amazing trading day with bitcoin gaining momentum toward $45k price.
I am glad you can analyze the mistake and realize that it is not because the strategy is wrong but because you lose control of emotion and make you in a rush. Hopefully, you can get the point from your mistake to fix and continue trading and recover the losses. I am sure that will improve yourself in controlling yourself and it could also improve your skills because you now become calm down and can reduce the emotion in trading. Yes, all of us are waiting for bitcoin to gain momentum toward $45k and it will happen sooner or later. 
If you had success in trading one token and you applied a certain strategy, then I see no reason to change it, if you managed to make a profit, then stick to your strategy and do not change it, why did you need to switch to another coin if you received x2 ... The strategy must be changed in case of unsuccessful attempts, but on the contrary, you managed to double your deposit, albeit a small one.
He said that he lost almost all his funds applying the same strategy that he applied for the first coin, it is clear that his strategy is wrong as for the most part he is relying on his luck to produce positive results and it is taking huge risks in the process, almost no trader can survive any market with that kind of strategy and when we add that we are in one of the most volatile markets around the world then this becomes even worse, so what the OP needs to do is to change his strategy otherwise this is going to keep happening over and over again. ~
Thing is emotions are almost part of every actions we made. It is almost like that known third law of Newton. 
Only the best thing to do is just decide the opposite of how your reaction wants you to react. It might seem generic to say, but to put it bluntly, I day traded before and somehow in day 3 I managed to just stop panicking especially when I sell even if the market wants me to sell immediately.
The best advice i can give you is to learn from your own experiences, look back at the token that made 2 times the profit reflect on the decision hat you made compare them to what you did right than and what you did wrong when trading the new one, when it comes to trading you have to really on your onw ways and your own strategies, but always keep in mind that you won't always win you are going to take some losses since the market is unpredictable, and trading is all about managing your profit and your losses.
Absolutely, You can learn all of those things from your own experiences. Honestly, sometimes we totally made mistakes but it help us think in a mature way. Maybe we can make those mistakes as our inspiration for us to learn more and earn good profit. Traders need to have enough patience of the things they enter especially here in crypto world. They must always have their own strategies and especially they must need also to be updated. Trading is not always win or earn, sometimes you also need to experience those things that might get you upset before you can get an idea on what to do. 
The true test is to consistently make money in any market condition. Which is what most people can't.
You're a trader if you can.
Beginners luck. OP, sorry I know that's a heartache if you got greedy after that. Which is mostly the case. You win, you think you are good at it and it happens to starters most of the time. It did happen to me too. Thankfully, I am the kind of trader that easily gets happy with a little profit and I didn't put it back to any coin. I used the money as cash and savor it. You're a trader if you can.
What you can do is try to forget whatever you had loss and try to start all over again. Just use what you experienced as a learning point and avoid whatever emotion you felt that time.
Or, remember what you lost and take the lesson that tells you: hello sir, you're NOT a trader. So please don't make this your life and take away all the joy of actually holding, using and Dollar Cost Averaging your stash:)
Seriously, OP, stop trading, you're clearly not built for it and there's no shame in that because very, very few of us are.
The best advice i can give you is to learn from your own experiences, look back at the token that made 2 times the profit reflect on the decision hat you made compare them to what you did right than and what you did wrong when trading the new one, when it comes to trading you have to really on your onw ways and your own strategies, but always keep in mind that you won't always win you are going to take some losses since the market is unpredictable, and trading is all about managing your profit and your losses.
My biggest advice has always been leave your emotions out the door and become a robot in this work. However that is already said a million times so I am not going to repeated that. Studying about trading for months and months is a good advice as well but once again that has been said a million times too.
If you are not doing these two then you will lose, there is nothing more important than these two things and if you could become someone who is super wise about how to trade and leave your emotions out the door when you start trading then you can make a lot of profit. However lets go for the third one which is a little bit less important but still matters a bit ; do not listen to others when you are trading. If you did the first two then you already know about this of course, but I just wanted to add that if someone tells you about a coin then do not buy it just because you trust the person neither.
If you are not doing these two then you will lose, there is nothing more important than these two things and if you could become someone who is super wise about how to trade and leave your emotions out the door when you start trading then you can make a lot of profit. However lets go for the third one which is a little bit less important but still matters a bit ; do not listen to others when you are trading. If you did the first two then you already know about this of course, but I just wanted to add that if someone tells you about a coin then do not buy it just because you trust the person neither.
Over confidence that's what went wrong. You did so well in the other trade that you felt like a professional and decided to take more risk for higher returns which backfired. You only picked that coins because of its price that's what I understood from your words. Glad you understand you made a mistake and now seeking solutions, that's a great step as many don't realized this until it's late. I'll advice you go back to the drawing board to see what went wrong.
After profiting from your previous trades, did you keep back some funds or reinvested everything into the other trade that didn't go as planned? Did you increase your risk without considering that the trades mightn't favor you as we just found out. These are the things you need to pay attention to. Greed kills many potential professional traders before the achieve their full potential.
You have to watch your emotions before entering a trade, don't get too over excited form your previous trades and do understand that a past success doesn't guarantee the future success. Also do understand that the market hasn't been favourable for the past week so something it might not be you but just situation you can't control.
Some people see it like gambling it all-in constantly, and yes that is the maximum way you could profit, there is no other way that could yield more profit then that if you are right that is true, but that is also the most optimized way to lose money at maximum rate as well.After profiting from your previous trades, did you keep back some funds or reinvested everything into the other trade that didn't go as planned? Did you increase your risk without considering that the trades mightn't favor you as we just found out. These are the things you need to pay attention to. Greed kills many potential professional traders before the achieve their full potential.
You have to watch your emotions before entering a trade, don't get too over excited form your previous trades and do understand that a past success doesn't guarantee the future success. Also do understand that the market hasn't been favourable for the past week so something it might not be you but just situation you can't control.
Getting over confidence is not an issue, not realizing how to trade is the issue, you could still divide your portfolio and spend only 5-10% to just one trade but then have the confidence that it will make you profit, because you picked it and you are awesome! that is over confidence, but if you fail and lose money then you will lose only 5-10% and that is fine for everyone.
It means it is usually about not studying and learning more before starting to trade, even if you end up earning first, you will end up losing later on, it is just too obvious that people end up losing money constantly because they never study trading.
I did not use any known strategy all I did for the first week is take advantage of the volatility of the market by buying low and selling high; I guess I got overexcited by my first week profits I thought I could use the same method with the other coin which look more volatile.
Over confidence that's what went wrong. You did so well in the other trade that you felt like a professional and decided to take more risk for higher returns which backfired. You only picked that coins because of its price that's what I understood from your words. Glad you understand you made a mistake and now seeking solutions, that's a great step as many don't realized this until it's late. I'll advice you go back to the drawing board to see what went wrong.
I'd like to echo in on this. Brainboss is right. What went wrong is you got lucky, but you failed to recognize that and thought you were actually pretty good at trading. Common mistake most "traders" made when they decided to get in on the business. Crypto speculators in 2017 and in 2020/21 would have made easy killings on most coins and new defi hype shitcoins. Why? Because you can do 2x in crypto easily during a bull run.
The true test is to consistently make money in any market condition. Which is what most people can't.
You're a trader if you can.
What you can do is try to forget whatever you had loss and try to start all over again. Just use what you experienced as a learning point and avoid whatever emotion you felt that time.
Over confidence that's what went wrong. You did so well in the other trade that you felt like a professional and decided to take more risk for higher returns which backfired. You only picked that coins because of its price that's what I understood from your words. Glad you understand you made a mistake and now seeking solutions, that's a great step as many don't realized this until it's late. I'll advice you go back to the drawing board to see what went wrong.
I'd like to echo in on this. Brainboss is right. What went wrong is you got lucky, but you failed to recognize that and thought you were actually pretty good at trading. Common mistake most "traders" made when they decided to get in on the business. Crypto speculators in 2017 and in 2020/21 would have made easy killings on most coins and new defi hype shitcoins. Why? Because you can do 2x in crypto easily during a bull run.
The true test is to consistently make money in any market condition. Which is what most people can't.
You're a trader if you can.
May I ask what strategy are you using? are you using indicators? are you taking consider looking at the market cap of that certain coin? are you only investing to new coins? I think you should give us more information on how you trade, also try taking consider adding this to your trade. It depends on your strategy what kind of indicator you are going to use.
hello community members, am new in trading and run into problems recently with trading where i almost lost all my funds. i started trading with a single token i have made x2 profits within a week when i decided to trade another coin which from my analysis the coin have great potential because of it price at that time and that was the beginning of my lost.
what went wrong and what strategy will you advice i adopt that will help me in my future trading that will give good profits and minimize lost.
your views are appreciated.
what went wrong and what strategy will you advice i adopt that will help me in my future trading that will give good profits and minimize lost.
your views are appreciated.
The first and basic advice will be don’t invest, all in.
Rather what you can do is split your funds in multiple assets so that you don’t lose all.
Secondly before choosing the right coin, do some research whether to invest in it or not.
At last when you get small profits of your base investment, do cash out.
If you greed for more profit, then ultimately you will face loss only.
It's why my pairs are with stable coin, BTC/USDT, TRX/USDT... and I try to not move from my pairs, it's what I follow, I know what I can expect...
In the beginning, I made many mistakes like OP now... I make a profit with some pair, and I move all that money to some "potential" coin/token and I get busted! I don't do that anymore and if I invest in some new project it's for the long term! Simply, too many pump and dump schemes happen with them, so it's more like gambling than trading.
In the beginning, I made many mistakes like OP now... I make a profit with some pair, and I move all that money to some "potential" coin/token and I get busted! I don't do that anymore and if I invest in some new project it's for the long term! Simply, too many pump and dump schemes happen with them, so it's more like gambling than trading.
I will advise you that 2x in a week may be luck game. Please don't day trade without full Knowledge unless you know what you're doing and having a decent amount to invest in. It's also mentally draining day trading as you'll constantly check and be worried and probably end up losing money. Stick with staking if you're new and maybe trade with 10% of your portfolio.
If you had success in trading one token and you applied a certain strategy, then I see no reason to change it, if you managed to make a profit, then stick to your strategy and do not change it, why did you need to switch to another coin if you received x2 ... The strategy must be changed in case of unsuccessful attempts, but on the contrary, you managed to double your deposit, albeit a small one.
I had prefer you a way which is very important in trading, which is patience. Without patience you can't do anything in trading and after all i will prefer you to buy short term coins first and analyze them hardly because analyzing the token is also a part of trading. Short term tokens will give you a profit and then you can be ready for the long term.
There will be risks in trading it is easier to succeed if you can go ahead with the risks with technology you can learn and practice the truth and something. If you need to learn how to copy creative advertising you can take classes online and the purpose can be achieved this is very beneficial for your business when you start out it is highly possible that you will be low on your budget and cannot afford highly professional people for business and planning. So if you know some strategies for yourself it becomes easier with the initial progress and later when the financial improvement.
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