hello everyone, I am someone who's a complete novice in trading and crypto who lost and learnt some lessons from those. I wish to share them with you and ask guidance if I could receive.
#Beginners #Loss #FEARANDGREED #stoploss
It took me a while to understand what the market, futures etc are, to an extent. Yet there were many mistakes I have made and lost a lot. And a while ago I lost my 75% of my account balance due to a lost futures trade. I lost 200% on short trade on eth, I kept the position for 3 days and finally closed it on loss. Because I kept averaging and didn't have a stop loss. I lost all my money.

These are some of my mistakes,

1) Entering in the futures without knowing what it actually is and how it works.

The amount you put and wish to earn and leverage must be calculated before to better understand what you have and what you get.

2) Trusting others words blindly.
Understanding why the said long or short would happen is very crucial.
Learn Technical analysis.
Own research is very important, in the end it is you that are gaining or losing the money.

3) Greed
Learning when to take out profits is very crucial for a successful trade, having a target is really important. And just because you earned some amount, don't put everything in the next trade. You don't win everytime, this must be always in the mind.

4) Fear
When you see the position is going into loss, fear is evitable. Thinking it will be back again isn't helpful. A stop-loss is very much needed.

Sometimes you loose more than you could ever imagine trying to save a much smaller part.

5) Depression
Overcome it. Life is unfair, it doesn't go your way. market is always true, learn more and have a strategy to trade. Facing is a loss isn't failure but giving up is.

I got to know some of my shortcomings in a hard way, hope you won't be the same. I'll improve and if you're reading this I hope you'll too.