I would choose to learn instead of giving up!

[Calvinpriva 17296]

First trade = Fail

Second trade = Fail

Third trade = Fail again!

 

What would be your next step in that failing situation? When i started trading i only earned profit two times out of my 7 trades! I earned a good profit in 2 days but later in 5 days i lost 10x of the profit that i earned! I don't think if there is any trader who earns profit only and he/she never loses some amount, so it's a normal situation to a trader life but there is a solution to avoid this regularly losing.

 

This was my problem.

I learned about trading by watching tutorials on youtube and reading articles in different blogs, it's really a good way to learn (I hope you know) i learned that trading is profitable and i will earn money (a lot of money) if i will start trading, but i never learned how to trade! I don't know if you understood me, i learned that trading is profitable but i didn't learn the basics of trading!

 

I started trading when i know only one thing, i should buy when the price is low and sell while the price is high so that i can earn a profit! I lost my 5 trades easily by learning only that and watching some tutorials then i thought am ready to trade. After losing regularly i doubted one thing, why i keep losing while am following the (buy low and sell high) formula? 

 

My solution.

So from there, i decided to LEARN again and see why i keep losing while i trade in the right way. And finally, i discovered the reason for me to fail regularly after i LEARN again, make research, and got support from my friends who trade too. The problem was, i learned that i can earn money by buying a coin when it's price is low and sell it later when it grows... But i never learned at which point i can say "Yes, now LTC is low so i should buy... Now BTC is low so i should buy!!!" So i was just buying even if today LTC is $75 then tomorrow dropped to $68 i would just buy because i saw a price drop of $7 !!! But i did wrong because LTC can fall up to $40, right? 

 

Believe me, this problem faces many beginner traders. They just know that formula (buy low, sell high) but they don't know at which point they should buy or sell. So instead of giving up, choose to LEARN! Make research of any coin that you need to trade it, and ask for support from other traders! Don't worry, if you don't know any trader we will support you (we are many traders in this forum) so just ask anything and we will support you. Don't agree to lose your money easily again, losing is there but not regularly

 

Example:

It's just like learning to build a house, you start learning to build a foundation and not learn to build a wall first. And that's how works in crypto, learn coins first (in deeply), know their habits, and then start to trade them.

_________________!

[Moontong 5312]

Thanks for sharing this kind of information, trading is reslly risky, you should know your limit whenever you are losing continuously, what if you win in trading, can it cover all the money that have lost on you? Always assess the situation, we should not be so trying hard if its not for us especially if we are talking sbout money.

[kitekite24 4162]

This was a good content that you made my friend it is very inspiring for me and for us members here that experienced that kind of scenario of yours. Failure is in everyone's life so we must handle it and overcome it for us to proceed on our goal and like what you've said choose to learn instead of giving up and that is right because experience is the best teacher.

[BTC Future 3946]

I began trading and did everything wrong. I tried a lot of techniques and while at some point I managed to make good trades there was always doubt as market was frequently collapsing. This is not happening lately and my thoughts are on changing the trading style to longer terms. It seems that after the halvening market is only going up. I don't know if this has to do with tether as price seems corellated with new USDT prints. Certainly though I don't think that I am any more experienced now. Only part I am not doing wrong is to sell at the bottom instead I m buying certain dips and profitting

Edited August 13, 2020 by BTC Future

[Calvinpriva 17296]

33 minutes ago, Moontong said:

Thanks for sharing this kind of information, trading is reslly risky, you should know your limit whenever you are losing continuously, what if you win in trading, can it cover all the money that have lost on you? Always assess the situation, we should not be so trying hard if its not for us especially if we are talking sbout money.

Sure, we should know our limit because we can not earn profit by losing continuously. It is very hard to earn a profit that will cover all your losses! The solution is to learn all the basics so that we can avoid losing continuously. 

 

31 minutes ago, kitekite24 said:

This was a good content that you made my friend it is very inspiring for me and for us members here that experienced that kind of scenario of yours. Failure is in everyone's life so we must handle it and overcome it for us to proceed on our goal and like what you've said choose to learn instead of giving up and that is right because experience is the best teacher.

Thank you. Yap, failure is in our life because not all the time the results will come the same as we expected. But we can reduce failure by learning until to find the right way to reach our goals.

[Honny143 13612]

This type real life experience show's how hard to do trading, because most of new traders thinks trading very easy and became rich in short period, but when they entires in trading fields and observe deeply then they realizes how tuff to do trading, without any failure I don't think anyone success, so always learn new strategies to avoid loss this forum YouTube Google helps to learn trading tips.

[P A Ashif 2409]

According to me everything has its time.  You will not be rewarded before your time. So keep trying, keeping mastering your skills. One you will probably get the success.  I like your post because very descriptive. One should not skip your post any way. I like the point where you say Fail, fail and then again fail.

[Calvinpriva 17296]

@BTC Future Really??! If you can buy dips and earn profit then you are a good trader! Apart from all my trading that i do, am good in trading peer to peer and arbitrage. I earn good profit with those two types of trading than any other!

[Calvinpriva 17296]

@Honny143 Good point, many people thought trading is easy and they will just earn money simply! But there are many things to learn first before start earning, without those strategies will be easier to fail than to win.

 

@P A Ashif Thank you! You are right, everything has its time. We should keep learning and practice so that when our time comes we do the right thing. Fail, fail, and fail again is an enemy, but we can avoid that by learning and not giving up.

 

@saraanna396 Absolutely. We can earn many profits by investing and trading in a short time, but we need knowledge because a wrong prediction (trading without knowledge) can cause unexpected big loss!

[Tunuu 2235]

Trading is not that easy as many people think when starting! I was one of them thinking trading is easy and i ended up losing my money several times. But i decided to learn just as you said and am still learning until today though i already know all the basics but there are many skills i learn other trades almost every day.

[Moaz 7239]

Your post is extremely important to members who want to trade in cryptocurrencies, and I think the most important rule fo a successful trader is knowledge and learning the basics of trading. Learning is the key to success and you should not give up, but try to learn from your mistakes.

[Whited35 15285]

While getting started cryptocurrency tradings, a huge loss was very significant in my life. I have some confusions about placing orders and analyzing the market situations(I thought price of cryptocurrency will be always increasing 😂). After so many failure attempts, I have learnt so many things how to make profits off crypto trading. Just buy,HODL, and sell when price is raised, this strategy is looking so common but I prefer active trading strategies which is still working perfectly for me. 

[BTC Future 3946]

2 hours ago, Calvinpriva said:

@BTC Future Really??! If you can buy dips and earn profit then you are a good trader! Apart from all my trading that i do, am good in trading peer to peer and arbitrage. I earn good profit with those two types of trading than any other!

My whole strategy from 2017 was about buying dips, lol. First time I bought was at around 3k in sep 2017 with the Chinese news of banning Bitcoin. Of course I bought in March too at 7,8K and at 5k. Although I took some profits at 10k as I thought another dip would follow. Still hold a small amount but not as much as I would like. This is my major problem when trading Bitcoin. FOMO. The train leaves and I'm left behind.

About P2P trading, I've read similar comment in the past about that there can be profit with low risk. I haven't tried though yet, perhaps I will in Binance or try Paxful. 

 

[benalmoh88 1500]

thank you for sharing this good topic, this exactly what happened with me in trading, and with learning and long search of this subject i find that i should be buy with 10% from my capital and if the price down i will buy another 10%, so the price of my buying is the average of two buying operation.

[Calvinpriva 17296]

3 hours ago, Whited35 said:

(I thought price of cryptocurrency will be always increasing 😂)

@Whited35  Yap, this was a real problem 😂 😂 that strategy for buying at a low price and sell at a high price is very common and also it has profit if it will be done in the right way. I also use that strategy but in few coins and i buy only after they reach my buying point, otherwise i just continue with P2P.

 

3 hours ago, BTC Future said:

This is my major problem when trading Bitcoin. FOMO. The train leaves and I'm left behind.

About P2P trading, I've read similar comment in the past about that there can be profit with low risk. I haven't tried though yet, perhaps I will in Binance or try Paxful. 

@BTC Future To be honest, FOMO is the reason for me to slow down on day trading and focus most on P2P! Just make some research, learn all the basics (it's easier) and try P2P. I started with $ 100 but now I can sell up to $ 2000 BTC to Paypal, and I trade up to 5 trades every day! It's really profitable and low risk, between binance and paxful i prefer paxful because they are one of the leading P2P sites apart from LocalBitcoins.

[gourav789 2834]

trading is always risky if we haven't good knowledge and experience in it . Infact I am also in trading field from 1-2 year sometime I got good profit from it . in begining Eveyone mk must be focous on gain knowledge and experience instead of money .

[bino 3576]

Such a wonderful experience. Although you failed many time you won't give up and started to learn more about trading. That's really good mindsent of yours, instead of giving up, you won't do that. Thank you for sharing about your experience and advise. The quote in the last part is superb. 

[Whited35 15285]

8 hours ago, Calvinpriva said:

@Whited35   I also use that strategy but in few coins and i buy only after they reach my buying point, otherwise i just continue with P2P.

@Calvinpriva I have not tried LocalBitcoin yet. What makes LBC so special for you 😊? I am familiar with Paxfull. How difficult is it to pass KYC on LBC ?What are the criteria to fulfill if I want to put buying order of BTC with Skrill balance ? 

[Moontong 5312]

2 hours ago, Jagonath said:

Thanks for sharing a nice thing Trading is risky You should know this limit whenever you are constantly losing your money If you were trading would it be able to cover your lost money so we need to evaluate the situation then we need to trade

That's true, before you try trading, you should know how risky it is. You may also lose your money upon doing it, especially if your font has enough knowledge about cryptocurrency, better to acquire enough knowledge first before trying some crypto activities.

[BrolySSJ 7899]

There is always a huge learning curve when it comes to any new skill that you are trying to learn and trading is no different in this sense. as you have said here the foundation is the most important and in order to prevent yourself from giving up you need to have a good understanding of the process and how it works before you begin trading. In this way you will minimize your losses. Also, each loss should be looked at as an opportunity to learn and understand what went wrong and that is very important. Trading is very risky and learning is the only way to mitigate those losses. Never accept defeat, but strive to learn and get better. 

[marchal87 2343]

For me, if there was no failure, there would be no success. Working in trading should expect loss before profit. You will not be always profitable. Profit in the field of trading needs an essential element to achieve profit, which is patience. Without patience, you will not achieve anything.

[Calvinpriva 17296]

8 hours ago, Whited35 said:

@Calvinpriva I have not tried LocalBitcoin yet. What makes LBC so special for you 😊? I am familiar with Paxfull. How difficult is it to pass KYC on LBC ?What are the criteria to fulfill if I want to put buying order of BTC with Skrill balance ? 

@Whited35 LBC is very special to me because it is very safe, many different payment methods and you have 60 minutes to dispute a trade if there would be a problem. Honest review, BTC-Paypal/ BTC-Skrill it takes less than 5 minutes for your trade to be done! I completed their KYC very easily with my national ID in only few minutes. Depositing fee is 13K satoshi and withdraw fee is 4K satoshi, but the fee always change according to BTC price, normal fee (deposit: 7K satoshi, withdraw: 3K satoshi).

 

NB:

Many traders need the same name of your LBC to be the same with your PayPal email/skrill, otherwise they will not trade with you or they may report you as a scammer (but not all traders) so read carefully trader rules before trading with anyone there.

[Moontong 5312]

11 hours ago, bino said:

Such a wonderful experience. Although you failed many time you won't give up and started to learn more about trading. That's really good mindsent of yours, instead of giving up, you won't do that. Thank you for sharing about your experience and advise. The quote in the last part is superb. 

Very well said buddy, never give up on everything, there is more than chance that you can get if you dont surrender. Keep on pushing but with limits. You should also know your limits, if you cant then let go but if you still see even little chance then go for it.

[Whited35 15285]

51 minutes ago, Calvinpriva said:

 

Many traders need the same name of your LBC to be the same with your PayPal email/skrill, otherwise they will not trade with you or they may report you as a scammer (but not all traders) so read carefully trader rules before trading with anyone there.

@Calvinpriva Thanks for these tips 😍! I do not see any problem for these both deposit and withdraw fees since it is p2p platform, I can manage to overlap such fees due to profits gained from the trades as I have been doing on Paxful. I might give a try on LBC just to buy BTC ( I never sell BTC on P2P platforms😜).

[Babubu609 0]

@Calvinpriva I agree with all that you said, we don't have to give up instead we have to tide up to move on. This was an opportunity and a chance to learn something try not to give up. Always try to learn  because failure is always the first step to success. To every success there will be about 60% failure being the foundation to that stage.