Topic: trade makes me poor - page 18. (Read 3471 times)
What kind of background do you have in trading? Have you learned any TA skills or do you have fundamental reasons for buying / selling? But to answer your question, of course i feel bad after i am heavily on loss. But at the same time i kinda enjoy that on some masochistic level.
Been there done that! But not that much, I did this when I immediately jumped into FET - 1st day of trading in binance. It skyrocketed then jumped in and I am too greedy waiting for it to be like BTT, I guess most of you know what happened on BTT on its 1st weeks of trading wherein it boomed and soared high maybe because it was the first IEO in binance. But with this kind of experience I am now confident on how to handle trading whether for short or long term.
Sorry about the funds lost via trading. I think you need to take more time to understand Technical Analysis very well before you delve into trading. Also, are you referring to margin trading? Or normal trading?. The risk involved in margin trading is bigger comparatively. Also, you mentioned that trading is similar to gambling, this happens when you just jump into a coin especially when price is going up, then get cut up at dip. Never buy the greens, my own opinion.
really sorry about your loss. but It could be avoided if you were well known about the coins you dealing with. Actually, if you have a better understanding of those tokens you have enough time to make choice. because of cryptocurrencies price do not change fast as in forex assets. 1st thing is the skills. it doesn't matter what kind of trading type you use, you need to gain enough skills 1st.
Are you frustrated when you experience defeat in trading? yes I experienced this ... I have lost $ 1000 dollars in the past 2 hours ... I did not switch with another coin and I just focused on the initial coin. but in fact I was still losing, in my opinion trading was not much different from gambling.
Trading is not an easy thing to do, because when we take a step or a decision, what we get is a loss. At least from the losses you get, you get experience and learning about it, what you think is inappropriate and makes you suffer losses. Observe the movement of the chart and always be ready to take the next step if what happens is not what you expect.
Trading can be devastating sometimes. I remember I lost about $200 in less than a week. But I will hold the coin till the price comes up before I sell. I will not run at a loss. Making profit in a long run is better than making loss within a short time.
Are you frustrated when you experience defeat in trading? yes I experienced this ... I have lost $ 1000 dollars in the past 2 hours ... I did not switch with another coin and I just focused on the initial coin. but in fact I was still losing, in my opinion trading was not much different from gambling.
In your opinion trading was not much different from gambling ?? Funny bro, because you loss then you say trading like gambling. Trading and gambling is diffrent. Gambling You bet something to win, but if lose will get nothing
Trading, its about profits or not, and you can control your profits depend on when sell it.
I see so many cases and the answers trader not get profits because not patient
Are you frustrated when you experience defeat in trading? yes I experienced this ... I have lost $ 1000 dollars in the past 2 hours ... I did not switch with another coin and I just focused on the initial coin. but in fact I was still losing, in my opinion trading was not much different from gambling.
Which coin you are talking into? Trading would really be like gambling if you dont know on what you are doing specially for those people who do just simply jump because they believe that they can make money just like what other have done.It isnt really that simple in reality.Buying and Selling sounds simple but when you are already on the
field you would really come to a point on asking yourself on what the hell are you doing.
Dont risk the amount that you cant afford to lose,just practice on small amounts until you do able to make your profitable trade system.
Mistakes are inevitable and you should learn from it rather than escaping from fear.
Trading requires skills, and this high volatile skills you have to be prepared. Every successful traders, been there and done that but you have to be quickly realized your mistakes. Don't quit and share your successful trade again in this forum.
You lost 1000$ because you did panic selling. If your portfolio goes down, its just an opportunity to buy more to level up ur loses. It is not the time to sell. In crypto, we all cannot win, some win while others lose
For everything in our world, you have to pay. Here, probably, there are no such people who would not lose money on the trade. From a lack of knowledge or experience, almost everyone has gone through this. But this experience and knowledge, for which you have to pay. I also lost, but now I take it philosophically. I believe that these losses are a payment for the knowledge and experience that I received.
Are you frustrated when you experience defeat in trading? yes I experienced this ... I have lost $ 1000 dollars in the past 2 hours ... I did not switch with another coin and I just focused on the initial coin. but in fact I was still losing, in my opinion trading was not much different from gambling.
If you decided that trading made you poor, you have just started your way into the crypto world. Here, everybody loses sometimes, and professionals do not pay attention to these losses. They simply start looking for new ways to get their money back and even earn more. Be sure - you will get your returns. Simply do not give up with cryptocurrencies.
Take a break and think over the mistakes you have made.
in my opinion trading was not much different from gambling.
Trading has nothing to do with gambling. If you can not control your emotions, then you should refrain from trading (at least until you rethink your approach to this occupation).
This is why USDT is your friend, when Ethereum was trading at $309, I was very busy and had to pause my trading so I can handle something offline, forgot to convert to a stablecoin before logging out of my Binance account when I checked later, I saw ETH las dipped a lot in my absence, I lost a lot that day.
Don't get discouraged, we all have had one bitter experience or the other trading in this market, it can be disheartening at times but persistence and continuous learning will help you improve, besides you should not go greedy, losing that much in such a short time shows it, avoid pump and dumps
From what you have posted it looks obvious that you were doing margin trading which is never recommended for newbie or small scale traders, you should know that it is high risk trading and yes it is similar to gambling especially if you are doing it for getting rich quickly and you do not know what you are doing.
Honestly, to lose is what everyone doesn't like. It is like a nightmare that happens every single minute particularly if you are dealing here in crypto most of the time. Sorry, mate for your lose. I wish your success bounce back. Take some time to reflect and learn from your past experienced. Best wishes ahead.
Are you frustrated when you experience defeat in trading? yes I experienced this ... I have lost $ 1000 dollars in the past 2 hours ... I did not switch with another coin and I just focused on the initial coin. but in fact I was still losing, in my opinion trading was not much different from gambling.
And how many hours have you spent by learning how to trade? 0? Then you didn´t lose money by trading but by gambling. Real traders are starting with trading after 3-4 years of learning. 
Trading is easy so you can make profits but its unpredictable so you might lose more as well so total profits will be based on how you manage your funds.If you want to quit after a loss then its just a loss only for you.
how could we said it easy meanwhile most of traders now suffered loss from bitcoin or altcoin.if trading is easy maybe much of us be rich man now, we could money easily in cryptocurrency.even an expert never said trading was easy.don't over confidence with our skill.Don't conclude too fast by seeing the first few words on a sentence.
Are you frustrated when you experience defeat in trading? yes I experienced this ... I have lost $ 1000 dollars in the past 2 hours ... I did not switch with another coin and I just focused on the initial coin. but in fact I was still losing, in my opinion trading was not much different from gambling.
My friend, losses can be avoided if you directly converted it to stablecoin like USDT, but sorry that you loss that such a big amount, its just that we need to understand that trading takes a lot of strategies in order to work for it, study hard and understand all those technicalities overtime. Maybe for now, just try to trade which are low in circulation of coins, compared to billions of supply, the lower the supply the better the chances of immediate price movements.
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