You have to lose a lot more until depression sets in. Do you go out? Can you afford eating and paying bills? If you dont have to make a second credit to pay the first u good
No way you talk about mastering candlesticks after losing all your money in 1 day ๐๐๐ like this is so far from mastery
CyclopCrypto
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How I Lost $50,000 โ And Why I Didnโt Lose Hope ๐ธ
Hey, Iโve been through a lot in my trading journey, and I want to share my story with you so you can learn from my mistakes and avoid making the same ones I did.
Here are the key lessons Iโve learned:
Stay Alert ๐: Trading requires your full attention. Donโt let distractions get in the way!
Manage Your Funds Wisely ๐ฐ: Always be mindful of your capital and donโt take on too much risk.
Leverage: Use It Carefully โ๏ธ: Leverage can be a double-edged sword. Stick to low-margin trades to protect yourself from liquidation.
If a Trade Goes South, Try Dollar-Cost Averaging (DCA) ๐โก๏ธ๐: When things go wrong, consider averaging down to lower your entry cost over time.
Set Stop-Losses โ: This is your safety net.
Protect your capital, even if itโs a small loss.
Choose Strong Coins ๐: Donโt just chase the hype. Invest in fundamentally solid coins with real potential.
Master Candlestick & Chart Patterns ๐:
Understanding these patterns can give you a huge advantage in predicting price movements. Trade with the Trend ๐: Donโt fight the market.
Go with the flow, not against it.
Avoid FOMO ๐ โโ๏ธ: Fear of Missing Out can cloud your judgment and lead to poor decisions.
Remember the Stats ๐: Most traders lose money. Only a small percentage are successful in the long run. Know the odds, but donโt be discouraged!
Iโve made my share of mistakes, but Iโve learned from them. Iโve bounced back, become more cautious, and now, I approach trading with a smarter mindset.
I hope my experiences help you avoid the same mistakes and get closer to your goals! ๐ช
If you had more money you would risk more money. Admit it
From100toMillion
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What a Ride! Lessons Learned from My Liquidation ๐๐
A week ago, $AUCTION hit $32, and I got liquidated with a $450 loss. But the story didnโt end thereโฆ The price kept climbing, reaching an insane $67! ๐คฏ If I had more balance, I might have lost even moreโor, with a massive account, I could have survived and profited, as the price later crashed 70% in just one day, dropping back to $20โthe exact price where I started shorting.
So, what did I learn from this? ๐ค
โ Emotional trading is expensive โ Trading based on emotions rather than strategy leads to heavy losses.
โ Stop-loss is a must โ A proper stop-loss would have saved me from this disaster and kept me in the game.
โ Capital management is crucial โ Without enough balance, it's hard to survive. But having a huge balance can also be dangerous if the strategy is wrong.
โ The market is full of surprises โ AUCTION soared 200%+ and then dumped 70% in a day. Anything can happen!
โ Discipline and a long-term plan are key โ If I had stuck to a strict plan, I could have exited earlier with smaller losses and re-entered at the right moment.
The journey continues! Next time, Iโll trade smarter. ๐ What are your biggest trading lessons? Letโs discuss in the comments! ๐
There is no way you can win the way you trade.Learn a bit statistics to understand that its inevitabile to lose 10 trades in a row out of 1000 trades. Go slow or lose
juba 1
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Today went well for me, my question is, should I keep the risk the same while the amount of money increases or should I increase the risk? And how can I get back the money I lost?
I don't know honestly how I survived the crash. Lost some bucks at night when BTC crashed a bit i thought that was it so opened long position & stop loss hit. I woke up to pray early morning & saw market crashing & made some bucks although it was a roller coaster ride. The spikes were huge & you can get liquidated easily. Nonetheless, my tip is stop loss. I saw people losing their entire saving over 7k for third world country is huge money.
Wait until total market cap gets to 1.21t and then buy and hold alts. Any other way of trading will make you lose money. For a year or two at least. Just dca