I need some honest advice from experienced traders. 🙏
I started trading on Binance Futures about 20 days ago. Before that, I knew almost nothing about trading. I started with $75 and made around $41 profit in my first week.
After that, I deposited another $200. A trade was opened without a Stop Loss, and I lost almost all of it. Later, hoping to recover my losses, I deposited another $600, but unfortunately I lost that as well through several trades.
In total, I have lost around $975, and I now have only about $11 left from my savings.
This experience made me realize that I made a big mistake by trading with real money before learning the basics of risk management, leverage, position sizing, Stop Loss, and proper trade management.
Now I don't want to chase my losses or make quick money. I want to learn trading properly from the beginning.
What would you do if you were in my position?
Should I completely stop trading for now and focus on learning first? Or, after gaining enough knowledge, is it reasonable to start again later with a very small amount and low risk?
I'm not looking for profit guarantees. I just want honest and realistic advice from experienced traders so I don't repeat the same mistakes.
Any guidance would genuinely mean a lot to me. 🙏
I started trading on Binance Futures about 20 days ago. Before that, I knew almost nothing about trading. I started with $75 and made around $41 profit in my first week.
After that, I deposited another $200. A trade was opened without a Stop Loss, and I lost almost all of it. Later, hoping to recover my losses, I deposited another $600, but unfortunately I lost that as well through several trades.
In total, I have lost around $975, and I now have only about $11 left from my savings.
This experience made me realize that I made a big mistake by trading with real money before learning the basics of risk management, leverage, position sizing, Stop Loss, and proper trade management.
Now I don't want to chase my losses or make quick money. I want to learn trading properly from the beginning.
What would you do if you were in my position?
Should I completely stop trading for now and focus on learning first? Or, after gaining enough knowledge, is it reasonable to start again later with a very small amount and low risk?
I'm not looking for profit guarantees. I just want honest and realistic advice from experienced traders so I don't repeat the same mistakes.
Any guidance would genuinely mean a lot to me. 🙏
