Quote from: joeperry on July 12, 2025, 01:05:41 PM

Quote from: Coin_info on July 12, 2025, 11:32:49 AM

Those are the few lessons I learnt from failure, what did you learn?

That was some common mistakes I've made too when I started trading. At least you learned your lesson at $100 some of the people I know lost thousands of dollars to learn that kind of lesson, one thing I can also say what mistake I've done before was trying the futures, when I started I don't exactly grasp its concept until later when I found out that if you lose it, you lose it. Unlike buying normal coins, you get a hold of that asset (no matter what the price) in futures, it's like placing bet, once you lose, you lose.

Yeah, it's fairly what most of us experience in the beginning, specially that you wanted to get back what you have lost, and so you might do revenge trading. But that is still 50/50 in my opinion as it can go against you as well. Good if you won back or at least recover some, but if you lost then they you have to rethink you strategy again. By going against trend, that is a huge risk so not sure if newbie traders should do that. In any case, it might be good to experience this as well at the start so that you will now that this is a bad strategy as this is base on emotions. And I think the one of the most practice that might have been overlook is taking a break. Yes, sometimes if everything is not getting you way, it's better to just step away or one move behind so that you can have two steps forward. You will have time to reconsider your strategy and maybe tweaks some so that when you comeback, you can make a great profit.