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.
Come to think that trading for 1 year? It is really just that impossible that you arent really that learning on a specific period of time.Yes, 1 year might not really be enough but i would say that its impossible that you cant really be able to point out with those mistakes that you've been doing along the way. You wont really be that so dumb on not to notice with those errors and mistakes that you have done with that specific period of time but instead you had tolerated out on being like that. Come to think that even on first month try then you would really be able to see whether you are doing something good or not basing up with your montly gain or losses.If you do find out to be negative then reassessing those trades back and look at on what wrong thing that you have done.
It is really just that there are really those people who are able to assess early and there are ones who do tolerate those losses until they would really be busting up everything.
There really just those people who are really that could be making out those reactions while its still early and there are ones who do stop on the time that
they had been wrecked out.