Topic: Trading can ruin you - page 9. (Read 2037 times)

Starting with spot would be always be the best choice on which it is really just that something that you must really be your starting line specially if you are a complete newbie or having that zero knowledge and it would really be just that a suicide if you do consider yourself on stepping into futures trading or scalping because you would really be needing to deal with extreme volatility in short time period and this would really be requiring that suffiicent knowledge and skills towards trading or else then you are just basically gambling on something that you arent even sure on what you are doing.   Mistakes and errors are common though but doesnt mean that you should really be tolerating that because it would really be resulting into devastation with your finances and this is something that we must avoid.

Trading could really indeed ruin you if you wont really be making yourself that careful but we know that losses are inevitable and something that could really be able to make you learn
along the way.It is really just that it would really be needing up that proper planning and learning things along the way so that on the time that you would really be staying up and keeps on dealing
with this market then you do mold yourself way more better than on those previous days or months that had passed.

This piece is very informative, newbies should try as much as possible to learn more about the crypto space before embarking on futures trading, Spot trading is better for newbies actually. Though in some occasions where you use exchanges that has copy trading you can utilize such opportunity to blend in with other traders, but copy trading is not available on all exchanges and that’s where the issue comes in, few exchange like Bitget and some new exchanges that are just coming up has it as well.

We will be able to survive then if we never give up and lose our faith.
Many traders have quit as they didn't understand the market situation and it is a trader's behavior that stops us from achieving our goals. A reason why trading should be taken seriously and it needs focus and time. Trading could ruin us if we let it happen but if we are able to control our emotions and stick to our plan, nothing to worry about. We can't be great all the time nor we are profitable but we can do it well and become profitable if work hard.

If trading destroys your calm mind then it would be better to leave this activity because it is very unhealthy for you because when you no longer have a calm mind it means you are stressed and gradually other illnesses will attack you, or you have to evaluate what makes you become don't be calm, if you see your assets continuing to fall, it is very likely that you are using money that you can't afford to lose or you are speculating on trash coins because you hope to get something big without realizing that these trash coins are more likely to make you bankrupt, because that's what I experienced when I still thought the coins were very good but actually they weren't.

for sure it wasn't me mate .

I have come to know my limit and my capacity to invest and my tolerance to losing is truly a little.
I would rather not trade than to become careless because this is my money to lose.
Beginner must never invest the amount they cannot carry to lose.
if you are a beginner , better to invest solely in Bitcoin but that amount must be your excess money , meaning that you can lose anytime willingly .

In trading, its one of the most aspects in cryptocurrency investment that requires much attention despite that their is a huge difference between trading and investment. But in the aspect of trading a precaution measure most take place before you becomes a profiting trader, one that leads some of the traders into disadvantages aspects of trading and especially the newbies is when they are not after understanding the basic key of trading as a skill before they ventured into trading. In the aspect you're emphasising that trading will ruin someone who is not acquainted with trading, that can only happen when you with your savings not with your spare funds, its obvious and understanding that trading during trading what you are supposed to use to partake in trading is a spare funds..secondly its not advisable to lend funds and trade with it, you can take such risk in investment but in trading I don't think it's encouraging or a welcomed development

It can only ruin us if we become careless traders here in the crypto space. But who is a sane trader who wants to lose his assets. is there isn't there anything?

That's why it's very important that if anyone is a beginner, they should really learn basic trading, all they need to know is to learn it, and if they just take care of it, it can ruin their lives for sure in the end. And it's not good when that happens.

Pump and dump aren't good because they're ruining the market reputation. When the market is always pumping and dumping, some investors will be running away from the market as nobody wants to invest in something that they'll not make profits because the market is manipulated by whales. Many individuals lost when Luna crashed and some wen back to invest thinking the price will recover but it hasn't recovered because the project is dead.

Trading is very risky as it's unpredictable, if you want to trade do it with small capital and don't invest everything you have. Trading needs experience therefore don't trade if you haven't gotten the experience from practicing. Many individuals lose because they think they can make quick money from trading.

Everyone who wants to become a trader really needs preparation such as knowledge about trading and also knowledge about the market and knowledge about the assets in the market so that someone can start wisely after knowing all these things very well. Because without sufficient knowledge, someone might make the wrong step in starting trading, especially if someone wants to trade based on someone else's invitation to an asset. Maybe he would be trapped through this if he didn't explore the knowledge of what was offered to him by other people.

Most people talk with their sweet words, even though inside it seems like there is something hidden behind being a trader. Therefore, we should not be immediately tempted to make easy money from trading. so the first thing that needs to be considered is knowledge and after that we can seek experience from real trading, and after that I am sure we will get improvements in trading, so don't rush, or we will fall into gambling.

Not knowing what to do at the start is the normal situation and there is nothing wrong with that. We need to just realize that we are going to end up with a result that should be a lot more important one way or another. So if we put in the time, then starting with zero knowledge doesn't matter because the more time we put into it the more we are going to end up making. So it is all about giving some time, studying, learning, experimenting, gaining experience and so forth.

If you do those things then you are going to end up with a greater return eventually, sure it is not going to be just a few days, or weeks, but after some months you are going to end up with a good profit eventually. That's how all those big veteran traders become the way they are, they end up giving it some time and studying and becoming good over course of years. I know people who traded for more than 7 years now, imagine spending over 7 years of trading in the crypto world, obviously that's going to make you a bit richer but also it is going to make you better at trading as well.

These pumps and dumps are good but we should be cautious not to be caught in he middle because it will definitely deal with us endlessly. Luna heavy dump taught me a big lesson, that was the beginning of me gaining wisdom concerning crypto projects. Luna crashed retested most vast crypto investors back to square one, losing substantial figures in their trading accounts, witnessed $20k invested in Luna turning into $5k, I was just shocked and couldn't say word because top investors have made and also lost money in the process. Perhaps I've learnt my lessons, promised myself to do better as time goes on.

During the luna period I just saw a status update that showed the price of luna at its high and low points. Then it was low, I made the decision to take advantage of it so that I could hold on to it and wait for the time when the price would increase. During this time, I had a major disaster that made me realize that cryptocurrency is deadly; it took me a day to get myself together. The worst part was that the money wasn't even my own, but I thought I could manipulate it to make quick money, which was completely incorrect. After the incident I realised that it was a big lesson for me because I discovered and learn a lot.

Trading is very simple to talk and lecture about but so damn difficult in practice that not even those traders we think are experienced in it can boast of being the best at it because with trading the learning never stops, it only stops when you as a trader quits trading. A newbie should know better never to go near futures trading if they don't wanna get financially ruined then they just have to stick with DCA in their start and can later move on to spot trading depending on how much knowledge they could have gathered from their time of DCAing and when they are ready to face the furnace they can try futures trading but with amount you can afford to lose. It's very important you make use of amount you can afford losing for your mental and psychological interest.

It is not only the trading through which we get some loss, in each field if we don't have its knowledge we have to face troubles and we have to face loss. And it doesn't matter if funds have more or less, if we didn't have any experience in a specific field it means we have to be ready for the loss. It will be very challenging for all of us if we start our trading without having good/proper knowledge about the trading and if we don't know when to take entry in a specific coin, or when we have to exit. This will teach mostly people some lessons and most people get into depression if they don't have some proper planning for their trading.
I hope the post and the replies in this post will help newbies a lot.

If ever I lose money from trading then I feel much pain. When I win money from trading I am more happy. Trading is not for everyone who can take right decision at right time. But I prefer trading.  To invest for a long period of time, we lose some time by investing. However, we lose our money due to some mistakes. But if we can invest in some good coins, it can bring us profit.

Yep. exactly how I feel. Trading ruined my peace of mind.
When I first got into crypto, trading was the first thing I learned, but as time passed, I realized that crypto trading was not for me.
The pressure to make profits by continuously observing and analyzing price movements stresses me out, And I have concluded that trading is not my passion. DCA and Hodl suit me better.

Literally it ruined my peace of mind, many times I was really bothered of several situations like the old coins I had with zero value these days. I was wondering that bull run could take place once again, but it's kinda dream for now. Let's just keep it an inspiration, hopefully in perfect time we'll be able to survive this very rough situation that we've gone through.

The things that separates the successful trader to a loser is their knowledge, decision and traits while trading.   Most successful traders have dedicated their time in learning and relearning the curves of trading and at the same time gathering the latest information and news about the asset they are trading with.  Successful traders also make use of their TA and fundamental knowledge very well while those who losses in trades might have missing some of the factor that make them uninformed about the possibility of the next move of the market or make miscalculation of the next move of the market.

Indeed. There are successful traders, we can't deny it. But there are also many traders who gets huge losses because they trade with no proper strategies. So, it actually depends on the way they trade the coins/tokens. If a trader trades with proper ways, the chance for a loss can be minimized (reduced). Trading is actually profitable if it is done with the right way.

Yes, it only can ruin us if we trade with lack knowledge and experience. So, we only trade with gambling-base, means relying on the luck. Those traders who trade with no proper ways can be called as gambling with selling-buying crypto coins. So, knowledge and experience is very crucial in trading, it is the fundamental matter.

However, if someone has sufficient knowledge and experience, he will know how to trade properly. Then, he must understand which strategy to use that can optimize the chance for gaining profits.