I met someone who spoke bitterly against cryptotrading, he spoke of how he had a fortune in his trading account that disappeared completely in one night, he spoke of how he fell into depression and sickness soon followed because of overthinking of how to pick up and get back up on his feet financially. Now he is a strong advocate against anything trading crypto, how sad and dissapointing.
I didn't want to go through the rigor of trying to preach the message of crypto and share my testimonials from my little successful trades because our meeting was short lived as we were in transit, but the big question that i kept asking myself afterwards was -
"How many persons loose in a trade, and then go back to find out why they lost, and the mistakes they made?"
(I am bringing this topic here to point out amd encourage everyone that needs encouragement, that it is always best to find out the reason behind every loss we make in trading. It might not be easy, but try not to fall into depression suddenly, go back and find out the excesses and mistakes in your analysis in preparation for the BIG WIN, it is not easy, but you can do it)
For the most part it is useless to talk and try to convince people like that, they are too embittered by their own experience that they are not going to listen to your arguments at all, now I could kind of understand this if he lost his money to an exchange that scammed him and now he is suspicious of this market but I doubt this is what happened.
If I were to guess it is obvious he was using leverage without a stop loss and then the market began moving against him and instead of selling for a loss he kept the trade open and lost all the money he had and now blames the market instead of admitting that it was his own decisions that caused such a dramatic loss of his capital.