Ever blown your trading account?

[Henrywrites]

Trading crypto currencies can be fun and a mental exercise as you are always thinking and working out ways that you can make money out of the capital that you are using in trading. However, blowing up your trading account can be a sad tale. Have you ever been in such situation?

 

[Nomad]

Well, I am basically into investment. I have traded a couple of times, but I usually go ahead with long term investments. I have made some major losses with trading, but I have also made some profits. Until now, OI am on the safer side, when it come to trade crypto.

 

[Heatman]

Yes of course, I have blown my cryptocurrency trading account once. In fact, I knew that my decision was actually going to result in blowing the account and I went on with it anyways. I allowed my emotion to get the better of me when a trade I was in profit turned against me.

 

[Henrywrites]

Yes of course, I have blown my cryptocurrency trading account once. In fact, I knew that my decision was actually going to result in blowing the account and I went on with it anyways. I allowed my emotion to get the better of me when a trade I was in profit turned against me.

So sorry about such experience. I have always said that the biggest move that you can make in any trading is being able to control your emotions. It can make or mar your trading goals in cryptocurrency market. So, being careful with it is better.

 

[Heatman]

So sorry about such experience. I have always said that the biggest move that you can make in any trading is being able to control your emotions. It can make or mar your trading goals in cryptocurrency market. So, being careful with it is better.

Yeah, that's very correct. It's all part of the psychological training cryptocurrency traders and even Forex trading experts go through. You don't allow your emotions to get the best of you. Don't go into revenge trading mode. Accept any loss and move on from it. There's always another day to trade.

 

[Riberet19]

Yes, several times, especially at the beginning of starting trading and I thought it was child's play, then I realized that I was wrong and that I should learn, I have not ruined my trading account for a long time and I am doing well, but you have to spend time and learn a lot to be profitable,

 

[Henrywrites]

Yes, several times, especially at the beginning of starting trading and I thought it was child's play, then I realized that I was wrong and that I should learn, I have not ruined my trading account for a long time and I am doing well, but you have to spend time and learn a lot to be profitable,

Aside learning, one got to be patient with trading. This is because that is the only way that you can be able to figure out how to trade better even if you are not quite perfect at it. Blowing up one's account can be a depressing situation because you will have different thoughts of where you are going to start again.

 

[Riberet19]

Aside learning, one got to be patient with trading. This is because that is the only way that you can be able to figure out how to trade better even if you are not quite perfect at it. Blowing up one's account can be a depressing situation because you will have different thoughts of where you are going to start again.

Without a doubt, that is also part of learning, one can not learn in 2 days to trade, it is a matter of time and practice, one must also know when to trade, since the market is not suitable to operate it every day, that is one of the first mistakes I corrected, I believed that every day was suitable to operate, when that is not the case.

 

[Ja Sa Bong]

It's a pain to blow your cryptocurrency trading account. You will be filled with regrets and blaming yourself why you had to trade. I've witnessed real depression in someone who blew his $6,000 trading account. I couldn't believe anyone can do something as such.

 

[tray59]

It's a pain to blow your cryptocurrency trading account. You will be filled with regrets and blaming yourself why you had to trade. I've witnessed real depression in someone who blew his $6,000 trading account. I couldn't believe anyone can do something as such.

If it is vrypto currency I never blown my account I had to be careful wth any investment I made in my account but I have blown my forex trading account twice so now I use stoploss tight to secured my margine

 

[Heatman]

If it is vrypto currency I never blown my account I had to be careful wth any investment I made in my account but I have blown my forex trading account twice so now I use stoploss tight to secured my margine

It's the same way that you make use of stop loss on cryptocurrency trading that you make use of it in forex trading. All that you need to learn well is how to get your stop loss figures well because one mistake in the numbers is going to change everything.

 

[Good-Person]

It's the same way that you make use of stop loss on cryptocurrency trading that you make use of it in forex trading. All that you need to learn well is how to get your stop loss figures well because one mistake in the numbers is going to change everything.

I do not use stop loss. This is mainly because most of the time, the value fluctuates or increases in an unexpected manner and this could trigger the stop loss. After this, the price goes in your favour. This means that I lose the trade despite making accurate predictions. This might be one of the main disadvantages of using stop loss. However, not using stop loss is also very risky for sure.