Topic: Trading can ruin you - page 8. (Read 2054 times)

There is no certainty that futures trading is the best for beginners to do compared to ordinary trading which uses technical and fundamental analysis, however professional traders today are those who started their knowledge from zero in trading but with their spirit of fighting and never giving up, now they become professional people in trading.

Everyone, including beginners, can be successful in trading, it's just that there are several important factors that influence it, such as emotional factors - capital - knowledge - experience - resilience.

That's the thing with trading, you need to aim for a profit, but be ready for a loss at the same time and that is very tough. You could just sell it all and get out which would make sure that you do not lose when it goes down, but if you do that then how are you going to profit when it goes up?

You could put all your money into it, and hope that it goes up and that is how you profit, but how would you protect yourself when it goes down? So you need to find a perfect place and method where you can profit when it goes up but be ready not to lose much when it goes down. Stop loss is a great method for this, you end up holding, but if it goes down then you are going to be basically holding it carefully and getting out when it goes down thanks to your stop loss.

Thanks for this advice. Trading has a lot of risk and everyone needs to understand this especially the newbies, if you don’t have the right understanding of the volatile market please don’t go into trading, only if you have a good understanding only then you can trade do not be too anxious to make money. Although few exchanges offers help to the newbies who doesn’t have the understanding of the volatile market, the idea is to help newbies to make profit through trading, by this copy trading was introduced in order to help users who doesn’t have good trading skills to copy trade from professionals and make profits.

At least, you take a big lesson, right? 
Sure, knowledge or sufficient skills/ability is very important, it is fundamental thing in trading. How you know that you have traded properly if you have lack of knowledge. Even worse, if you have no skills at all, it means you only rely on the luck. You may have no problem in the early of your trading journey, you probably have a big luck at that time. But you must know that the luck won't last forever, it just happens temporarily. So, it is not surprised if you only get losses and losses later.

When you have learned well, there should be a change. Although you won't always get profits but you must know how to minimize the chance for the loss. You probably more often to get profits and you understand how to deal with the risks. Sure, with sufficient knowledge, our trading must be better. It is because we know how to trade in the right way.

And I experienced that at some point in my trading journey, both crypto and forex, when I first started, I ignored the essential things that I should know: knowledge, skill, and experience. At first, it went smoothly. I traded recklessly, but it didn't last long because after that day, I kept losing and losing money until I'm in debt.


But that didn't stop me. I rested for a while, then started learning more about trading and focused only on crypto currency trading, mainly bitcoin. Of course, at first I still lost some money, but not like my first experience. Eventually,  I noticed that I'm getting better and better at trading. I'm not a perfect trader, so I still experience down trades, but I can earn more than I lose. Even trading is too risky and can cost you money if you don't do well. As long as you have dedication and patience, the losses will pay off.

There's always the wrong idea about futures because it's wrongly advertised by influencers as it seems to be an easy way to make money in crypto and trading isn't a complicated thing.
I do understand that they're educating that it isn't only the stock market and forex that people can trade. But this is a dangerous way of introducing it to their audience and making it look very easy to trade crypto and much easier with futures.
That's like a suicide to the newbies that have been influenced that way because it is utterly wrong.

That's already given mate. Expect that as long as volatility is high, we can never have the peace of mind we all deserve. Trading in such unpredictable market and its uncertain market position makes it highly risky that's why if you can't sustain your emotion and you keep on panicking whenever there is sudden price crash, then stay away trading as it will only ruin your finances in the end. Trading is only for those fearless people who still manage to deal with the risk despite of its inevitable losses waiting ahead.

But I must say trading will ruin you if you don't know how to trade in the first place. Although trading is a piece of cake for some traders, but majority still consider trading as the last option when investing alone does not work for them.

Those who think trading is easy will of course experience failure when they start trading because they do it only based on their assumptions and not based on the knowledge they have. Before starting to trade, of course we must have knowledge about the trade we are going to do because without a good understanding of trading, of course the trade we make will experience losses from the trade we make. You are right, if we don't understand trading well it will certainly make us lose the money we have in trading.

Most beginners think trading is very easy and it is something they can start up without having knowledge,  maybe as they continue to do trading they will know better about trading but it is unfortunate that trading does not work this way. Trading is a skill which people must learn to get it right, their are things in trading that needs to be understood and without learning this skill it will be difficult to get it right in trading. Trading is not like gambling which people can profit by luck but profit in trading is gotten by understanding and experience that is why their is no need for beginners to rush trading.  It can really ruins one life when their is no proper understanding to go about it.

If you're experienced you can make money from all types of trading but many new traders don't wait untill they have had the experience before they want to start making money. They're too quick to chase after money and it ruins them and I think that's what this thread is about. Future trading is more advanced than spot trading and any trader that don't understand or haven't succeeded at spot trading shoudn't jump straight to trading future or they'll not make profits.

Trading can make you profits or it can ruin you, the choice is left for you to make as you should learn very well before starting to trade. Many individuals aren't making profits because they lack discipline and are not emotionally detached from their money and this make them to always want to make back the money they lost from past trade but they keep losing more money and it continues that way until they run out of money. New individual with no experience shouldn't be trading futures.

Your insights and understanding about trading are on point. It is true that trading is very challenging profession which requires know how and understanding of technical indicators/charts, money/risk management skills and above all emotional control to be a successful trader. In simple words, trading can be profitable , but it is not guaranteed path to get rich. For beginers, it is advisable to start with solid educational foundation, a well-defined trading plan and cautious approach to risk.

futures really need proper knowledge if someone doesn't want to just suddenly went bankrupt, thats the thing with future, some people even deliberately forcing themselves to use 100x which honestly too much of a risk, even more so for someone that doesn't even have sufficient knowledge about how the market will turns out to be.
future is only for those that knews well they could be losing money and they could also be earning so much.
it depends on one strategy but rarely I see some retailer traders that could have foolproof strategy sometime its just beginners luck and pure luck the other times.

Good and experienced traders know how to deal with the risky that futures trading has. But OP is giving the reminder to the newer ones that are aspiring with futures and are optimistic about it.
How many times did we see people that have jumped into the bandwagon of futures just because they've seen good traders earned decent money from there?
It shouldn't just because of you saw them make nice chunk of money through futures but understanding the whole thing about it and how you shouldn't be going along with it unequipped with knowledge.

 Stay off from trading if you are like gambling in the first place. While gambling is based on pure luck, trading on the other hand is based on knowledge, skills and developed strategies. This is why trading needs more focus and attention and requires long term preparation before you decide to enter trading and risk your time and money. If you think you are a faint-hearted and would easily panic whenever things don't go as planned, then do not waste your time learning trading.

However, if you are good trader, you will gain very promising profits. But know that everything in trading is made successful through hard work and persistence. If you are a compulsive trader and trade without patience, then never expect that you will benefit in trading.

Of course. Knowledge and good mentality are 2 basic things to have before someone begins to trade. We know that trading is high risk and sometimes quite difficult to do due to the change of market trends. If we have no knowledge and strong mentality, we may quit soon when we get a problem with the market condition. To understand the right time for buying and selling, it requires sufficient knowledge because it needs a deep analysis. So, it is impossible to trade properly if we have no knowledge.

Good advice for newbies and I do agree with you. Buying and holding is it great way to step into the crypto world. You don't have to learn the complex thing about market movement, market analysis, reading chart, and also doing all kind of complex thing. You just buy and forget about it until the price is at its peak. Then all you just need to do is sell to book your profit.

But in the meantime, if you can spare some of your time then you can obviously learn how to trade. It is complex, and I don't disagree but here's the thing. It is the same with everything. The more you learn about something the easier it gets. You can start low and climb your way out to the big ones. And it also doesn't have to be future trading. You can start with sport trading in which analysis, market movements and chart readings are essential. If you learn to do it while taking less risks then it is worth it. And then you can finally move towards future trading.

Evolution is all about taking risks. If you want to get something done in your life, you need to take risk. Just because you fail sometime doesn't mean you should give up. Keep on trying until you master it. There's an old saying that was something like this. " I don't fear the hundred things that you have practiced once, I fear the one thing that you have practiced a hundred time." The more you learn the better you get.

You are right mate!

Spot trading is a good start up specially if you are a complete noob. You do see that volatility isnt something as severe comparing when you do deal with futures and also not all even experience traders do really that become successful on this field on which it would really be that normal that losses would really be inevitable and something that you would be able to encounter. One of the risks that you would be facing within this market is always pertaining about moving prices on which volatility could neither be your enemy or could really be your friend.If you do see that the market would really be moving on extreme manner.
Stopping trading would be your best choice and having some break and try to reassess the situation and find out whether it would be worth on taking a step forward or would really be just making yourself that
stop for a while until things turns out to be normalized again.It would really be just that normal that you would be needing to take up some step for you to be able assess the situation and would really be able to
do things accordingly.

honestly surviving bearish just require you to have other source of income and just forgetting the coin that value already going down so significantly.
its called being an investor, but of course for someone thats not patient enough it will be kinda hard. even more so for those traders that buy at high, the only choice they can make is just to wait for another bullrun.
i would say that its the disadvantage with trading, so mentally exhausting sometime the rewards isn't even suited and isn't even worth it.
thats why i already stopped being trading I don't think its good enough I prefer to increase income through my skills and also having jobs.

How long do you keep your old coins? If you just put them on your wallets, it means you never trade them. Dude, we are talking about trading, we aren't discussing about investment to ruin our mind. Check again the topic title! 

Why you're wondering the bullrun? Do you only experience it one time?
If we look at the history of bullrun, it already happened several times. And every bullrun period, there were always a huge increase in crypto market. But for gaining profits, it purely depends on what coins you are holding. If you hold shitcoins, it probably never raise again although we have bullrun season. Remember that not all crypto coins may increase in the bullrun season.

What inspiration?
If you mean the experience to hold no value coins. It is not an inspiration, it is a bad experience.
However, you can take a lesson that you need to be more careful to choose coins.

Such a trader will turn into a gambler who loses much money and decides to start chasing his losses. People like this are too greedy and unable to control their emotions, which is why they don’t normally ignore some risk; they think all rush may generate money for them, which is not true. However, people like this keep on losing money as they are already blind by chasing losses, even though the appropriate target may not be reached, and they even think that if they always go to where Thierry has a lot of money and leave, they can cover up their losses with time.


Obviously, it will be very sad when, for you and those who ever eat food under you, you lose your asset where you get money to feed yourself and others. It’s not a nice thing, especially when it’s due to your ignorance.

Seriously, it’s very bad to lack basic knowledge of where our money is going. Before we need to know the basics of our business, especially in trading, fundamental knowledge, technical analysis, and skills need to be involved. Ok, if you take the journey of trading or not, you will lose your money, eh?