I HAVE JUST EXPAIN TO YOU MY JOURNEY OF TRADING THAT HOW I HAD LOST THESE DOLLARS.
I have started the trading from BINANACE app and I invest 1 k dollar at the start from spot while I had no teacher
i was in trainee at that time one day was will profit the other day was my loss day every month I invested in binance app from my salary
after investing these money would finish in just 4 to 6 days after that I again wait for my salary.
At the end in invested 6 k dollar at one time but there was a coin which has up from 0.92 to 14 dollars I bought this coin in 11 dollars and
unfortunately this coin dip to 2 dollars and I was see my loss in just 10 minutes.
My trading method I just sharing with you tell me where I done a mistake
1: invest in one coin also multiple coin
2: trading was at spot also futures
3.coin was buy from dip they again more dip
4.coin was sell from top they again go up
Kindly share your experience that I m doing a loss you are also a part of my problem so that I want to khow where I done mistake.
The first mistake you make is that you start trading without learning and gaining experience, which is definitely a disadvantage for any newbie. The most important mistake you made is when you bought a $0.92 coin at $11, because it went up almost 11 times and was sure to go back.Those who do not have a teacher, they do harm by making such mistakes .Trading is very difficult. You started with a very simple understanding, from which your seriousness can be estimated.
One should never invest in a single coin, but always diversify one's investment into different coins. The risks of loss in spot trading are always low, because when the price of a coin falls, there is no fear that your entire capital will be zero. Futures trading is very risky, there can be a huge profit and your capital can be zero. However, you need to learn a lot in the crypto currency market because it will be very difficult to trade when you don't fully understand the crypto market.