What to do if you lose $2,000 in trading? - page 31.

trecore4

sr. member

Activity: 658

Merit: 260

CryptoTalk.Org - Get Paid for every Post!

You have got some of the good points up there and can help the new comers on prior fronts.

I liked one point majorly and thats ,

Quote

b. Playing aggressive – Since I have too much ego in my head I put all my money in one coins only. I didn’t consider altcoins to hedge risk from BTC. There are altcoins who doesn’t affect much by this massive correction.

Yeah, the aggressive nature can always be destructing while making the trades. The thing is its kind of emotional trading and we can fool ourselves while doing that one. So never try this one or let the aggressive trading nature overcome our fruitful trades. Thats worst approach ever anyone can make. :-)

It is not even advisable for good trader to get into altcoins without any prior knowledge of the projects because thats the first thing where we make the mistake. No knowledge = Uneducated Trading = Loss. Its better we study all the things.

Maxell303

newbie

Activity: 7

Merit: 0

Rashid555

full member

Activity: 350

Merit: 100

I think you have to manage the currencies then you will be able to forecast the market for future as many opportunities are in the market and if we lose in one we must have the plan B to recover the loss happen in trading $2000 is high amount if you lose in trading it is good to hold our coin for future and to use this for many transaction without cash like the bitcoin is used for many transactions.

Inkdatar

hero member

Activity: 1582

Merit: 523

When losing money in trading it is very important to identify the problem always. Also, always do a research and analyze the market because this way could help you a lot. We should remember the risks in trading and manage your coins and diversify your investment. Once lose learned from your mistakes and you shouldnt stop from their take it as a lesson.

Caladonian

hero member

Activity: 1302

Merit: 540

Quote from: monmoni on February 20, 2018, 11:06:24 PM

Experience is the best way to learning from mistake and evaluate what you have done. If you figured it out and you learn something from it then you will one step to be better trader. Being a trader need a good emotional skill and if you do not pass this never try to be a trader, it will ruined you deeply.

For sure, if you can't survive the sway and you don't have that strong nerved to pursue then trading is not for you, this thread will help most of the newcomers who thinks trading is just an easy access to richness, better to analyze first those condition and see to your self if you can handle the
pressure, losing money is always there if you don't know the proper ways to handle the risk.

monmoni

newbie

Activity: 175

Merit: 0

Experience is the best way to learning from mistake and evaluate what you have done. If you figured it out and you learn something from it then you will one step to be better trader. Being a trader need a good emotional skill and if you do not pass this never try to be a trader, it will ruined you deeply.

atrocityx

member

Activity: 336

Merit: 71

Quote from: practicaltexan on February 20, 2018, 11:28:36 AM

Quote from: BitcoinHodler on February 20, 2018, 07:57:49 AM

you chose a very strange title for your topic! and it does not reflect what you are saying in it either.
for example reading the title, i am thinking only person who can lose $2000 in trading is someone who is an absolute newbie who lost a lot in one or a couple of bad trades. like 80-90% loss. or someone who went in big like investing $100,000 and lost 2% of it. in each case your topic doesn't talk about either of these!

I agree.
I also think there is the market watcher who isn't selling because they are panicking. They believe it will go lower and they can get back in.

I made that mistake a few times and beat myself up over it. $150 and $300 respectively gone. I turned potential loss into actual loss.

However, In this last correction I was averaging my position in so I was able to recoup it later.

What I did.

Put 60% allocation into bitcoin at $9000.
Put 20 % allocation in bitcoin at $7000
Put 10% allocation at $6000

What I should have done.

Put 10% allocation at $9000

Put 20% allocation at $8001

Put 20% allocation at $7000

etc.

It cost me $300 to learn that. The first $150. Pure panic. even though I had already taken out my initial investment and it was house money and not mine.

But don't be a market watcher, do your research, learn from others, and set your orders and then live your life, checking in and keeping track of the news and the coins you want to know about.

anyway. my 2 sat.

Yeah sounds good.. when I ladder down I always buy double so Id go 10%, 20%, 40%, 80% (extra money ill pull out if it goes below my 3rd goal which I'll sell completely early in profit just to help my cost average)..Its hard though especially when youre seeing 9000.. is this real? Then when it gets to 6000 you're ready to sell off the boat, car, and kidneys Cheesy

I do the same thing with alts.. double each position down the ladder, and sell double every step up the ladder in profit, its been working fantastic for me.. sometimes I miss some of the top but who cares Cheesy

cryptospacemedia

newbie

Activity: 68

Merit: 0

I started investing in bitcoin dec 2017. It was at peak, the bitcoin was around $14K-$15K.

I invested $2500 which became $700 when btc fell around $6K. I was panicking but didn't sell. I knew if I sell, I will be at loss and will never able invest again. Instead, I started buying more and did something called averaging.

Now the market is recovering and I have covered by initial investment and now standing even.

What I have learned in these 3 months is, You never lose until you sell.

I'll be believing in the power of HODL.

Looking forward to more lessons.

btc_angela

hero member

Activity: 2660

Merit: 551

Quote from: sofi@ on February 20, 2018, 09:47:28 PM

No one can recover loss if they will not try to take a risk once again. So if I will lose $2000 in trading I would still continue to trade but this time I should be more careful and study my target investment very well so I could give justice in choosing my investment. I will also try to read some response of other investor about the products so that I have a knowledge about it.

That's why we also say that we need to do our homework and research the coins that we are going to invest. For me $2K is already a big amount to lost specially if you are just starting on your trading journey.

So its a very expensive lessons to learned here. I hope that next time, you will do your due diligence not to rush things specially in trading. There are members here that really helps a lot in terms of what coins to invest but at least you should also do some research on your own before pouring your hard earn money.

gohan21

jr. member

Activity: 336

Merit: 1

Perhaps you are a trading partner and you immediately get it inexperienced from here for sure you can not earn and lose money when you do not know exactly what you need first and now you're losing money you know that next step you will.

sofi@

full member

Activity: 238

Merit: 108

No one can recover loss if they will not try to take a risk once again. So if I will lose $2000 in trading I would still continue to trade but this time I should be more careful and study my target investment very well so I could give justice in choosing my investment. I will also try to read some response of other investor about the products so that I have a knowledge about it.

lil_jb

newbie

Activity: 56

Merit: 0

Sounds like you sold for a loss. You don’t ever take a loss till you sell. I say let them hang and get your money back. You must learn from your mistakes.

Koadharber

hero member

Activity: 1065

Merit: 510

Quote from: Hemady17 on February 20, 2018, 12:59:22 AM

~snip~

Losing out money on the very first place on doing trading cant really be avoided which if you are really serious into this thing then better to figure out on where did you done something wrong why you do commit this outcome.Realizations and learning into your mistakes is one of the important aspects of a potential trader which he dont easily give up and discourage inspite of loss of money.

maimainguyen05

full member

Activity: 252

Merit: 105

Stake & Vote or Become a IoTeX Delegate!

I think if I lose 2,000$ in trading, I will forget it and try to find out the way to earn more than 2,000$ more by trading or any way else. But I think it'll be a big problem for traders with low capital, maybe it'll be a big shock for them and maybe they'll give trading up and never earning money with cryptocurrency again

spiker777

sr. member

Activity: 1007

Merit: 279

Payment Gateway Allows Recurring Payments

So if I lose $5,000 I should just ignore everything you said?

In any case, trading losses are only a true loss when actualized by converting to fiat. If you never convert, you never lose.

iv4n

legendary

Activity: 3248

Merit: 1179

Quote from: JCLee on February 20, 2018, 02:36:32 PM

Quote from: nsasuiteb on February 20, 2018, 01:53:08 PM

$2000 is nothing in crypto, you today can lose $2000 in trading but tomorrow you can make $10.000, this is trading, everybody lose some, but at the end gains must be more than losses.

LOL. Of course 2k$ is just a small amount to the whales but with new trader and new investor I think this amount is really big to them and for me it's also really huge

). To earn 2k$ in crypto it's not easy if you don't have a huge capital right at the start or you must be a really hard worker. But I think when you're a expert in crypto world I think it's really easy to earn 2k$ if you have huge capital at the start or not

That part is similar with gambling, when you lose some amount you try again and even with more money if you can afford it. Trading is not always making, in trading we all lose when market starts to go down, but again when its going up not all of us are winners, that's why sometimes you need to know to keep and sometimes to get into the trade's. There is one good one, you lose only if you sell, that's applay a lot in many alts not just bitcoins. Keep that in mind when you wish to trade, and one more thing when you fall only way is up, so after loss get up and try again and again until you learn to do it properly.

iv4n

legendary

Activity: 3248

Merit: 1179

Quote from: JCLee on February 20, 2018, 02:36:32 PM

Quote from: nsasuiteb on February 20, 2018, 01:53:08 PM

$2000 is nothing in crypto, you today can lose $2000 in trading but tomorrow you can make $10.000, this is trading, everybody lose some, but at the end gains must be more than losses.

LOL. Of course 2k$ is just a small amount to the whales but with new trader and new investor I think this amount is really big to them and for me it's also really huge

). To earn 2k$ in crypto it's not easy if you don't have a huge capital right at the start or you must be a really hard worker. But I think when you're a expert in crypto world I think it's really easy to earn 2k$ if you have huge capital at the start or not

That part is similar with gambling, when you lose some amount you try again and even with more money if you can afford it. Trading is not always making, in trading we all lose when market starts to go down, but again when its going up not all of us are winners, that's why sometimes you need to know to keep and sometimes to get into the trade's. There is one good one, you lose only if you sell, that's applay a lot in many alts not just bitcoins. Keep that in mind when you wish to trade, and one more thing when you fall only way is up, so after loss get up and try again and again until you learn to do it properly.

JCLee

full member

Activity: 280

Merit: 100

Quote from: nsasuiteb on February 20, 2018, 01:53:08 PM

$2000 is nothing in crypto, you today can lose $2000 in trading but tomorrow you can make $10.000, this is trading, everybody lose some, but at the end gains must be more than losses.

LOL. Of course 2k$ is just a small amount to the whales but with new trader and new investor I think this amount is really big to them and for me it's also really huge

). To earn 2k$ in crypto it's not easy if you don't have a huge capital right at the start or you must be a really hard worker. But I think when you're a expert in crypto world I think it's really easy to earn 2k$ if you have huge capital at the start or not

nsasuiteb

full member

Activity: 406

Merit: 100

BAILOUT

$2000 is nothing in crypto, you today can lose $2000 in trading but tomorrow you can make $10.000, this is trading, everybody lose some, but at the end gains must be more than losses.

krauzzer02

full member

Activity: 378

Merit: 101

Quote from: Hemady17 on February 20, 2018, 12:59:22 AM

Losing your hard earned money on trading is one of the traumatic experiences that might happen to you. This is usually happen when you are so bullish on the coins you are investing. Here are my thoughts on how to redeem you from this kind of experience.

You should not spend your HARD earned money on trading, trade what you can afford to lose.

Quote from: Hemady17 on February 20, 2018, 12:59:22 AM

b. Playing aggressive – Since I have too much ego in my head I put all my money in one coins only. I didn’t consider altcoins to hedge risk from BTC. There are altcoins who doesn’t affect much by this massive correction.

So what is the relationship between playing aggressive and putting all your hard earned money into one coin? it must be Playing with my ego or too much trust will kill you.

Quote from: Hemady17 on February 20, 2018, 12:59:22 AM

c. Didn’t follow my trading plan – Foundation of trading practice is to follow the plan you have originally set. Your exit strategy is one of those important decisions you will made. It composes of selling and cut loss strategy.

Sometimes, things don't work according to your plans, cryptocurrency is a harsh environment full of surprises and unpredictable events which will lead you from abandoning the original plans or strategy.

Topic: What to do if you lose $2,000 in trading? - page 31. (Read 13186 times)