Your bitter-sweet experience in trading that you can't get over.

Silberman

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Quote from: xSkylarx on March 03, 2023, 12:15:06 AM

Quote from: gabbie2010 on March 01, 2023, 09:30:23 AM

Quote from: martyns on February 23, 2023, 08:21:51 AM

Anyone who is into trading must have had some ugly experiences and also some good memories that either changed their lives or improved their financial status.We all know trading is risky and can cause emotional trauma if not seen and taken in two ways,either positively or negativily,either you win or you lose.It can be good and at the same time can make you sad.
What are those bad and good experiences you've had ever since you started trading?

One of my worst experience in crypto trading was when I was in more than 50% profit instead of taking profit and close the trade thinking that the price would continue to pump, unfortunately due to greediness I left the trade without putting a Stop Loss Lo and behold when I came back to check my account was already in liquidation, having traded with a high leverage using Isolated Margin, that was the first I experienced the high volatility of cryptocurrency price, honestly I felt bad and I was emotionally down that day I had to summon courage and move, though I quit trading for some time.

This is a pretty common mistake in trading because we are controlled by our greed. I think all of us experience this and that we want to earn more. That is why others are just going to hit and run or just set a daily goal and if they achieve it then they will not trade again on that day because, I don't know what the explanation behind this , but the market will kind of take those profits from you if you are still trading even if you already hit your goals.

This is pretty much the definition of overtrading, a good trader takes whatever the market gives them and they are happy with it, however when greed takes over traders try to force themselves and make more trades than what the market is offering them, and what happens to them? They lose money of course, as we cannot force the markets to move as we want, we are the ones that must adapt to them, and if we fail then we will have to pay the price, which in most instances is to suffer some losses during that particular day.

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Quote from: xSkylarx on March 03, 2023, 12:15:06 AM

This is a pretty common mistake in trading because we are controlled by our greed. I think all of us experience this and that we want to earn more. That is why others are just going to hit and run or just set a daily goal and if they achieve it then they will not trade again on that day because, I don't know what the explanation behind this , but the market will kind of take those profits from you if you are still trading even if you already hit your goals.

That is called a strategy, people with strategy will focus on just that and they will buy and hold and sell when the time comes and that is how they make their profit, they are smart people and I try to be like them as much as I possibly can.

However, there comes a time when things change a lot and we end up with something much worse, which I believe could be a bit of an issue in the long run, the "fools eye", I don't know what it's called in English but a person who is mesmerized by the beauty of something and can't move or talk, you see it growing higher, and you are seeing how much profit you are making, and you get stuck and can't do anything, those people make the biggest loss.

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Quote from: martyns on February 23, 2023, 08:21:51 AM

Anyone who is into trading must have had some ugly experiences and also some good memories that either changed their lives or improved their financial status.We all know trading is risky and can cause emotional trauma if not seen and taken in two ways,either positively or negativily,either you win or you lose.It can be good and at the same time can make you sad.
What are those bad and good experiences you've had ever since you started trading?

Buy high Sell low.

This is usually happening whenever i do get fomo'ed on which this is always been ending up a disaster and a never forgettable moment and this is where we do really learn up our lessons.
Each of us would really be experiencing the same and this is something inevitable, some could be able to handle out and some do easily quit out.
Its up to yours whether you would continue for this kind of goal or would easily quit up and find for another venture.

Getmon

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All of us who have been investing in crypto currencies for a long time have, in my opinion, been through both good and bad trades. I have been through the two major market cycles of bitcoin, the crypto currency that controls the market, and I have experienced my own ups and downs. Altcoins, in particular, are the ones that disappear when the market changes after the major cycles. Over the course of my career, I witnessed instances in which some of my altcoins, which were once valued at thousands and hundreds of thousands of dollars, were reduced to only a few hundred dollars, and others even became worthless coins.

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Quote from: martyns on February 23, 2023, 08:21:51 AM

What are those bad and good experiences you've had ever since you started trading?

To me, the baddest thing that happened to me in trading was to hold for too long and miss the targets thinking that a coin would increase further. Therefore, the biggest lesson I have learned was to make a plan and commit to a strategy, and follow risk management. In addition, mistakes make us less emotional over time, and that's the key to success in trading, in my opinion.

xSkylarx

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Quote from: gabbie2010 on March 01, 2023, 09:30:23 AM

Quote from: martyns on February 23, 2023, 08:21:51 AM

Anyone who is into trading must have had some ugly experiences and also some good memories that either changed their lives or improved their financial status.We all know trading is risky and can cause emotional trauma if not seen and taken in two ways,either positively or negativily,either you win or you lose.It can be good and at the same time can make you sad.
What are those bad and good experiences you've had ever since you started trading?

One of my worst experience in crypto trading was when I was in more than 50% profit instead of taking profit and close the trade thinking that the price would continue to pump, unfortunately due to greediness I left the trade without putting a Stop Loss Lo and behold when I came back to check my account was already in liquidation, having traded with a high leverage using Isolated Margin, that was the first I experienced the high volatility of cryptocurrency price, honestly I felt bad and I was emotionally down that day I had to summon courage and move, though I quit trading for some time.

This is a pretty common mistake in trading because we are controlled by our greed. I think all of us experience this and that we want to earn more. That is why others are just going to hit and run or just set a daily goal and if they achieve it then they will not trade again on that day because, I don't know what the explanation behind this , but the market will kind of take those profits from you if you are still trading even if you already hit your goals.

Issa56

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My worst experience in crypto trading was when I just started trading, actually I didn't have anyone to put me through so I have to learn it the hard way, i watched videos on YouTube, and I started putting everything into practice, everything was going well even as I was not making money yet, I was losing but not too much because any drop in market, I always make sure that i sell even at loss.

When I further my research and I discovered future trading, that was the worst thing that could happen happened to me in trading, I wasted all the money in my wallet on future trading, my house rent that was with me I deposited all and wasted it on future trading, at a point I noticed I was getting addicted to future trading, so I just have to force myself to stop it.

Silberman

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Quote from: gabbie2010 on March 01, 2023, 09:30:23 AM

Quote from: martyns on February 23, 2023, 08:21:51 AM

Anyone who is into trading must have had some ugly experiences and also some good memories that either changed their lives or improved their financial status.We all know trading is risky and can cause emotional trauma if not seen and taken in two ways,either positively or negativily,either you win or you lose.It can be good and at the same time can make you sad.
What are those bad and good experiences you've had ever since you started trading?

One of my worst experience in crypto trading was when I was in more than 50% profit instead of taking profit and close the trade thinking that the price would continue to pump, unfortunately due to greediness I left the trade without putting a Stop Loss Lo and behold when I came back to check my account was already in liquidation, having traded with a high leverage using Isolated Margin, that was the first I experienced the high volatility of cryptocurrency price, honestly I felt bad and I was emotionally down that day I had to summon courage and move, though I quit trading for some time.

That is the worst scenario that can happen to a trader, you are experiencing good profits and then out of nowhere you lose everything, and while this is rare in other market this is very common here as some altcoins can pump and dump in a matter of hours, I just hope that you did not had to pay a massive amount of money to learn that lesson since this is the kind of mistake that a newbie trader can make and that can easily make them to lose the trust they had on this market.

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Quote from: |MINER| on March 01, 2023, 09:44:59 AM

Quote from: martyns on February 23, 2023, 08:21:51 AM

Snip

I think most people out there have had a worse experience at least once in their trading life. In my case it has happened many times, I have faced loss many times due to wrong trading at wrong time. I still bear the weight of that loss by investing in memes or alt-coins in particular. But I remember during the bull run I had a meme coin in which I made almost 100x profit from a small invesmet which was the highest of my life. But after the Lunar incident, I stopped investing in alt coins and now I am holding Bitcoin for the long term.

There's no exemption to this because we do start on being a newbie so it is really that understandable that you would be experiencing losses and errors in towards this activity.
You cant really just that start on being professional all the way or on your first try.Even if you are old here on this market but it doesnt mean that you cant really experience losses.
This is why it would really be that a test on trying out to get along with this unpredictable and volatile market.There's no way that you could deal it up
without experiencing unfortunate events.

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Quote from: martyns on February 23, 2023, 08:21:51 AM

Snip

I think most people out there have had a worse experience at least once in their trading life. In my case it has happened many times, I have faced loss many times due to wrong trading at wrong time. I still bear the weight of that loss by investing in memes or alt-coins in particular. But I remember during the bull run I had a meme coin in which I made almost 100x profit from a small invesmet which was the highest of my life. But after the Lunar incident, I stopped investing in alt coins and now I am holding Bitcoin for the long term.

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Quote from: martyns on February 23, 2023, 08:21:51 AM

Anyone who is into trading must have had some ugly experiences and also some good memories that either changed their lives or improved their financial status.We all know trading is risky and can cause emotional trauma if not seen and taken in two ways,either positively or negativily,either you win or you lose.It can be good and at the same time can make you sad.
What are those bad and good experiences you've had ever since you started trading?

One of my worst experience in crypto trading was when I was in more than 50% profit instead of taking profit and close the trade thinking that the price would continue to pump, unfortunately due to greediness I left the trade without putting a Stop Loss Lo and behold when I came back to check my account was already in liquidation, having traded with a high leverage using Isolated Margin, that was the first I experienced the high volatility of cryptocurrency price, honestly I felt bad and I was emotionally down that day I had to summon courage and move, though I quit trading for some time.

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Well, I consider mine to be the worst experience, and that was the first time I carried out future trading. I first learned about "future trading" on a CEX, but I didn't understand it because I thought it was too complicated to devote much time to at the time, so I gave up trying to learn about it relentlessly. So, last year, I discovered a new CEX that gave me free money ($20) to use in my future wallet trade. I used the trial fund to trade the BTC pair and earn $5 extra, but I also lost it in the trade and earned more but lost it as well, so after the trial fund expired, I was only left with the $2 that I managed to earn. I decided to invest real money in future trading, starting with $100 and hoping to make a large profit, but I never knew how I mistakenly messed with the leverage settings. Immediately after I entered the trade, not even 30 minutes later, I was not seeing my $100 again; in fact, the trade had closed itself and the money was gone. Since then, I have not tried futures trading again, but I still have the intention to give it another try.

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Quote from: martyns on February 23, 2023, 08:21:51 AM

We all know trading is risky and can cause emotional trauma if not seen and taken in two ways,either positively or negativily,either you win or you lose.It can be good and at the same time can make you sad.

Paradoxically, losing is a part of winning when it comes to trading. Sadly, most traders don't want to be reminded of losing or have that mandatory feel of is. No gain without pain as they say in gym houses, and I think that also rightly applies to trading. Newbie traders are often indoctrinated on how marvellous and easy trading is and how they can make so and so amount of cash in a single day. So, these noobs come into trading with that mindset. A few days down the line, account is blown. The process is repeated until they learn or quit in bitterness.

Quote

What are those bad and good experiences you've had ever since you started trading?

There are numerous ones to remember. However, the pleasant experiences are more than the bad ones.

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Quote from: martyns on February 23, 2023, 08:21:51 AM

Anyone who is into trading must have had some ugly experiences and also some good memories that either changed their lives or improved their financial status.We all know trading is risky and can cause emotional trauma if not seen and taken in two ways,either positively or negativily,either you win or you lose.It can be good and at the same time can make you sad.
What are those bad and good experiences you've had ever since you started trading?

In addition of what you said, i will say that trading is a continuous process thing for a someone who is average perfect in trading, before you can become successful in trading you have undergoes many mistakes, and the mistake a trader encounter or experience during trading is a part of corrections in a previous trading and such mistake will not reoccurre

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Quote from: Silberman on February 28, 2023, 12:01:45 AM

Sometimes trying by ourselves and activity and finding out we are not good at it is the only way to move forward, if you had not gave yourself a chance to become a trader you will always wonder what it could have happened if you did so, now you know and the results were not pretty, but it is precisely because of that experience you could become a long term holder and now you will obtain massive benefits thanks to your bitcoin holdings.

I think giving yourself the chance to try and learn is also very important for self reflection a bit as well. I did it, and I am not a great trader to be fair, I am a decent one at best and not a great one, but I learned the fact that I have very small patience when it comes to working towards research.

This is how I became a long term investor and doing very well, because I have patience, just not for research, I can buy something and wait for it to go up for decades, but I can't just start researching a coin and its chart and all the indicators for many hours just for a few percent profit, that just takes too long and I don't want to spend time doing that.

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Quote from: isaac_clarke22 on February 26, 2023, 08:50:39 AM

Quote from: martyns on February 23, 2023, 08:21:51 AM

~

Another retelling of my story before I guess. Well I started out learning day trading in Youtube specifically on how to trade in Binance. Got to learn few tools used in the video like Bollinger Bands and RSI, I followed all along and thought it was all too easy and I might end up just doing this every day.

End result? It was horrible. I was mentally exhausted and burnt out into buying more coins to trade since I was not getting anywhere. I know it takes a lot of time to learn the ropes, but knowing that I am already exhausted with the first few weeks became the sign that trading was not just for me and that is completely fine. The takeaway from that is I am a long-term holder. I just wish I could have invested those times into programming, but nah I am in a better place now.

Sometimes trying by ourselves and activity and finding out we are not good at it is the only way to move forward, if you had not gave yourself a chance to become a trader you will always wonder what it could have happened if you did so, now you know and the results were not pretty, but it is precisely because of that experience you could become a long term holder and now you will obtain massive benefits thanks to your bitcoin holdings.

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Quote from: LUCKMCFLY on February 26, 2023, 12:56:13 PM

Quote from: michellee on February 25, 2023, 11:20:29 AM

Quote from: Tespata on February 25, 2023, 03:50:54 AM

I have had to go through more bad times than good experiences in trading Most of the time I have lost money even though I trade after a lot of due diligence it still remains very risky Most of the projects cannot succeed now and we have to pay for it with money Although I got success few times but lost more money than that I have now reached a point where I am afraid to invest in a really good project out of fear of not investing and regretting it later when the project succeeds.So you have to trade with Ricks, it is not possible to get success without taking Ricks You have to be successful with Ricks by knowing well.

It's okay if you have already lost money on a trade or an investment and are not alone. That means you and we have to study harder so we can gain profits and recover those losses in the future. In trading and investing, there are times of loss and gain. And if we can learn from our previous mistakes, we can trade and invest better. Maybe we did the wrong analysis or chose the wrong coin, so this makes us have to look for information on how to choose the coin or how to analyze it properly. Failure is a delayed success so we should be able to learn more from others.

It is normal that there are always losses in trading, but the important thing is that if there are more than 3 losses in a row, it is best to stop, because we simply do not have the correct vision of the market, and when that happens it is best to change the analysis and study the Why, if the trader does that and determines why he lost, then that becomes learning and that translates into making good money for the next entry, because he understands what is happening in the market and how he should make his next trade, It is ideal to always have control and that control determines how to operate, since the market is benevolent, it always gives new and better entries.

When it comes to losses then this is an inevitable thing the important thing on here is that you do really know on how to sustain up those losses and still ending up on being profitable.This what matter the most

on which you could really stay up that positive but of course it wont really be that simple as it sounds since this would really be talking about some strong emotion and control which would be also one of the

things which would really be affecting out yourself when it comes to your crypto investment. Bitter sweet experience is really that very common when you do deal
into this volatile and unpredictable market.

LUCKMCFLY

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Quote from: michellee on February 25, 2023, 11:20:29 AM

Quote from: Tespata on February 25, 2023, 03:50:54 AM

I have had to go through more bad times than good experiences in trading Most of the time I have lost money even though I trade after a lot of due diligence it still remains very risky Most of the projects cannot succeed now and we have to pay for it with money Although I got success few times but lost more money than that I have now reached a point where I am afraid to invest in a really good project out of fear of not investing and regretting it later when the project succeeds.So you have to trade with Ricks, it is not possible to get success without taking Ricks You have to be successful with Ricks by knowing well.

It's okay if you have already lost money on a trade or an investment and are not alone. That means you and we have to study harder so we can gain profits and recover those losses in the future. In trading and investing, there are times of loss and gain. And if we can learn from our previous mistakes, we can trade and invest better. Maybe we did the wrong analysis or chose the wrong coin, so this makes us have to look for information on how to choose the coin or how to analyze it properly. Failure is a delayed success so we should be able to learn more from others.

It is normal that there are always losses in trading, but the important thing is that if there are more than 3 losses in a row, it is best to stop, because we simply do not have the correct vision of the market, and when that happens it is best to change the analysis and study the Why, if the trader does that and determines why he lost, then that becomes learning and that translates into making good money for the next entry, because he understands what is happening in the market and how he should make his next trade, It is ideal to always have control and that control determines how to operate, since the market is benevolent, it always gives new and better entries.

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Quote from: martyns on February 23, 2023, 08:21:51 AM

~

Another retelling of my story before I guess. Well I started out learning day trading in Youtube specifically on how to trade in Binance. Got to learn few tools used in the video like Bollinger Bands and RSI, I followed all along and thought it was all too easy and I might end up just doing this every day.

End result? It was horrible. I was mentally exhausted and burnt out into buying more coins to trade since I was not getting anywhere. I know it takes a lot of time to learn the ropes, but knowing that I am already exhausted with the first few weeks became the sign that trading was not just for me and that is completely fine. The takeaway from that is I am a long-term holder. I just wish I could have invested those times into programming, but nah I am in a better place now.

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Quote from: GreatArkansas on February 24, 2023, 09:08:57 PM

Quote from: martyns on February 23, 2023, 08:21:51 AM

(....)
What are those bad and good experiences you've had ever since you started trading?

Bad is when I started trading I didn't learn basic things like basics analysis on charts, supports and resistance, and risk management. Because I agree that I lost a lot during the early days of my trading but the good thing that I experienced was gaining a lot of lessons.

Those three that you enumerate there are I think not the basics in trading but there are for advanced traders. Basic doesn't need any complications. It was when we buy and sell only. There are newbies who still can get lucky and earn consistently using only this but we might be bored later on and we think trying something new can make us a professional trader.

This is where we advance and learn those technical analysis and its tools. I think my bitter-sweet experience in trading is when I earn a big amount but then lose it all because I got greedy and didn't stick to my limits. This is something that sticks on my memory and will be hard to erase any more.

Topic: Your bitter-sweet experience in trading that you can't get over. (Read 376 times)