Trading can be lethal - Famous Tik Toker lost $72k in trading

[ScamViruS]

Trading is not for everyone, to trade you need to have knowledge about trading, it doesn't matter who comes from which sector. Coming to trading without any kind of trading knowledge means jumping into the sea without knowing how to swim, because trading here without knowing about trading is sure to result in losses and the same happened with this trader. He has learned a very valuable lesson, which will remind him again and again not to trade without knowing how to trade.

[jeraldskie11]

Losing in trading is normal, but it doesn't mean you should keep trading if you lose if most of the time there is something wrong with your trading strategy. If we are consistently losing trades, we should stop trading and go over our trades to see what is wrong so that the next time we trade, we know what to do to reduce losses. We will always experience losses, no matter how great our strategy is, therefore don't overcomplicate trading.

In trading loss is not always normal and sometime the main cause is using of wrong information so don't continue trading in such situations but remember that that gaining accurate knowledge first is most important without which you cannot fix your mistakes.

We should learn new things about trading because new things arises and new strategies should be applied. If you Loss for only one or two times after long success then this is normal but you should also minimize such normal mistakes.

I've been learning numerous strategies, but none of them produce more than 80% when used. Even the most profitable ones cannot do this, especially over time. This just means that no strategy can do it, but it cannot force you to stop becoming profitable.

I agree that when we trade, we learn something new, especially when we lose, but it does not mean we must change our trading plan. Why? We term it a trading plan because we already backtested it to ensure that it works before using it in live trades.

[Litzki1990]

Scripto trading is always risky and if a trader does not trade properly then his risk level in trading increases several times. I don't know how much the Pakistani tiktoker you mentioned knows about trading. Tiktoker may be more busy with how to make videos but I have no idea how skilled he is in trading. As you mentioned if he is trading futures with maximum risk of his money and if he has little knowledge about trading then it is normal for him to lose this huge amount of money. Trading without knowing anything about trading and if it is future trading then I would say it is definitely a stupid decision for a trader. First a trader needs to get a complete understanding about trading then he can start his trading journey through spot trading later when he is more skilled about trading then he can do future trading with less risk if he wants.

[bettercrypto]

His mistake was thinking he was a qualified trader when he only has a background in being a tiktoker.

It never ceases to amaze me the amount of risk that naive people bring on themselves.

If this TikToker learns why he lost, in a few months time if he doesn't quit trading, he can make it all back and even more than what he has lost.

That's bad advice because as you can see, he is a tiktoker. I don't think he has any interest in studying professional trading for 10,000 hours. In practicing something, you will make mistakes, and so for the 97% of people who quit, since trading is the activity here then he most likely loses even more money if he tries again and fails.

That's also the problem with other TikTok influencers: do they think that because they have a lot of followers on TikTok, it will be easy for them to become traders when they get profit from trading?

Maybe he also thought that it was easy to get a profit from trading here in the crypto space. That's why he made a mistake in what he thought I saw and only noticed based on the matter we are talking about here.

[Charles-Tim]

Trading is not for everyone, to trade you need to have knowledge about trading, it doesn't matter who comes from which sector. Coming to trading without any kind of trading knowledge means jumping into the sea without knowing how to swim, because trading here without knowing about trading is sure to result in losses and the same happened with this trader. He has learned a very valuable lesson, which will remind him again and again not to trade without knowing how to trade.

I just like how you explained trading newbies as people that do not know how to swim but jump into the sea. But trading is more than that. Trading is up to someone that knows how to swim already but jumped into the sea and still seeing himself sinking and not able to successfully swim. Some traders will have the knowledge and experience and would have been trading for a long time but still losing.

[ajiz138]

Trading is not for everyone, to trade you need to have knowledge about trading, it doesn't matter who comes from which sector. Coming to trading without any kind of trading knowledge means jumping into the sea without knowing how to swim, because trading here without knowing about trading is sure to result in losses and the same happened with this trader. He has learned a very valuable lesson, which will remind him again and again not to trade without knowing how to trade.

I just like how you explained trading newbies as people that do not know how to swim but jump into the sea. But trading is more than that. Trading is up to someone that knows how to swim already but jumped into the sea and still seeing himself sinking and not able to successfully swim. Some traders will have the knowledge and experience and would have been trading for a long time but still losing.

Even though they are very experienced in trading, that doesn't mean they will be free from losses. No matter what their experience is like or how extensive their knowledge is, in trading losses are something they will encounter.

However, what is different is that someone with experience will better understand how they can minimize risks, how they can recover quickly from losses or other things. My decline is one of the differences that we can see.

[milewilda]

Trading is not for everyone, to trade you need to have knowledge about trading, it doesn't matter who comes from which sector. Coming to trading without any kind of trading knowledge means jumping into the sea without knowing how to swim, because trading here without knowing about trading is sure to result in losses and the same happened with this trader. He has learned a very valuable lesson, which will remind him again and again not to trade without knowing how to trade.

I just like how you explained trading newbies as people that do not know how to swim but jump into the sea. But trading is more than that. Trading is up to someone that knows how to swim already but jumped into the sea and still seeing himself sinking and not able to successfully swim. Some traders will have the knowledge and experience and would have been trading for a long time but still losing.

Even though they are very experienced in trading, that doesn't mean they will be free from losses. No matter what their experience is like or how extensive their knowledge is, in trading losses are something they will encounter.

However, what is different is that someone with experience will better understand how they can minimize risks, how they can recover quickly from losses or other things. My decline is one of the differences that we can see.

Loses are indeed that inevitable on which the main reason on why those pros and newbies would be having significant difference is that they do know on what they should gonna do with these circumstances.Whereas, if you are already that experienced or knowledgeable then you do really know on what you should gonna do. Although it wont really be giving out that sure thing
about success or profits but at least you do already know on what you should gonna do in compared into those people who are having no idea on what they are really that doing or gonna do.
You would really be able to see the significant difference in between two when experience is really something in talks.

[ScamViruS]

Trading is not for everyone, to trade you need to have knowledge about trading, it doesn't matter who comes from which sector. Coming to trading without any kind of trading knowledge means jumping into the sea without knowing how to swim, because trading here without knowing about trading is sure to result in losses and the same happened with this trader. He has learned a very valuable lesson, which will remind him again and again not to trade without knowing how to trade.

I just like how you explained trading newbies as people that do not know how to swim but jump into the sea. But trading is more than that. Trading is up to someone that knows how to swim already but jumped into the sea and still seeing himself sinking and not able to successfully swim. Some traders will have the knowledge and experience and would have been trading for a long time but still losing.

It is true that experienced traders also make losses, but experienced traders are a little more careful in managing their funds than newbies. Because they know what they are doing so even if they lose they don't think about it that much because they know that profit and loss are part of trading. Despite having experience and skill in trading, many traders make losses mainly because of the behavior of the market.

[Best]

And it just shows that trading is not for everyone and that's why it is said to be lethal. And we even compare it to gambling already, although we can mitigate the risk in trading, but still there are a lot of unknowns and as we dig deeper, the more we would lose money here. And most likely the mindset of this tiktoker as well, maybe he thinks that it is easy money because of the success of his friends. But everyone is very different, his friends might be successful and he can even copy his trading, but it doesn't mean that he will get the same luck as his friends.

From what OP said, I think the Tiktoker thought it was easy to make money because his friend never really gave him the lesson he deserve. He just dished him the food just like that.
I know right now the TikToke would find it very hard to go into crypto again for putting in so much and losing them in a go. Wish he used less risky means like the Dual investment strategy. That would have mitigated his loss in a way

[Charles-Tim]

It is true that experienced traders also make losses, but experienced traders are a little more careful in managing their funds than newbies. Because they know what they are doing so even if they lose they don't think about it that much because they know that profit and loss are part of trading. Despite having experience and skill in trading, many traders make losses mainly because of the behavior of the market.

The main reason that many traders are losing than making profit is because that is just trading. Especially if you are having low amount of money and using leverage, the rich people that use no leverage and minimize their risks further would make profit from traders that are trading with small amount of money and having bigger risks. Many of my friends that are trading always tell me at some point that they have lost again. Some traders will have experience, win and win but later seeing themselves losing more than making profit again in long term. Trading is very risky.

[LUCKMCFLY]

Trading is not for everyone, to trade you need to have knowledge about trading, it doesn't matter who comes from which sector. Coming to trading without any kind of trading knowledge means jumping into the sea without knowing how to swim, because trading here without knowing about trading is sure to result in losses and the same happened with this trader. He has learned a very valuable lesson, which will remind him again and again not to trade without knowing how to trade.

I just like how you explained trading newbies as people that do not know how to swim but jump into the sea. But trading is more than that. Trading is up to someone that knows how to swim already but jumped into the sea and still seeing himself sinking and not able to successfully swim. Some traders will have the knowledge and experience and would have been trading for a long time but still losing.

It is true that experienced traders also make losses, but experienced traders are a little more careful in managing their funds than newbies. Because they know what they are doing so even if they lose they don't think about it that much because they know that profit and loss are part of trading. Despite having experience and skill in trading, many traders make losses mainly because of the behavior of the market.

We think that for Experienced traders ,Traders and all those who have experience in the market, they simply have losses, but the difference between them is that you see that they make a good move Because they will recover the Bad one they have made, unlike of what we do because a bad move can trigger things to go very Wrong, so this was what happened to the trader, also if you are in futures trading it is much more dangerous than anything else, I am not even able to put money there because I don't know how to do it, if I do it is as if I were in a Casino and it is not worth risking my money there, that must be done knowingly, I know how to Trade but in the medium or Long Term, so that is where yes I can be a little clearer because I have a lot more Reaction, on the other hand , the tik toker thing is Actually something very sad.

[Gladitorcomeback]

He has no one but himself to blame for what happened. You can't expect to enter a financial market, do trading, and earn a lot of money and do all that without any knowledge and understanding. If the friend was earning profit, and suggested trading to him as well, he had a brain that he could use and think that if he is going to use his money, he needs to understand everything first before he starts investing.

He started trading without gaining enough knowledge about the market or cryptocurrencies, I'm pretty sure he had invested all his money in some shit coin or meme coin hoping to become a millionaire soon because if he had invested in Bitcoin, he would have been in profit already.

[ajiz138]

Even though they are very experienced in trading, that doesn't mean they will be free from losses. No matter what their experience is like or how extensive their knowledge is, in trading losses are something they will encounter.

However, what is different is that someone with experience will better understand how they can minimize risks, how they can recover quickly from losses or other things. My decline is one of the differences that we can see.

Loses are indeed that inevitable on which the main reason on why those pros and newbies would be having significant difference is that they do know on what they should gonna do with these circumstances.Whereas, if you are already that experienced or knowledgeable then you do really know on what you should gonna do. Although it wont really be giving out that sure thing
about success or profits but at least you do already know on what you should gonna do in compared into those people who are having no idea on what they are really that doing or gonna do.
You would really be able to see the significant difference in between two when experience is really something in talks.

That's what differentiates experienced traders from beginner traders. Those who are experienced will definitely get up and quickly take action when they feel a loss. Their experience and knowledge is very helpful in this regard.

Meanwhile, those who are inexperienced may tend not to be able to do anything, because of course a loss is something difficult for them to experience. They had to gather their mentality again because of the losses they experienced.

[pacar_tiri]

Even though they are very experienced in trading, that doesn't mean they will be free from losses. No matter what their experience is like or how extensive their knowledge is, in trading losses are something they will encounter.

However, what is different is that someone with experience will better understand how they can minimize risks, how they can recover quickly from losses or other things. My decline is one of the differences that we can see.

Loses are indeed that inevitable on which the main reason on why those pros and newbies would be having significant difference is that they do know on what they should gonna do with these circumstances.Whereas, if you are already that experienced or knowledgeable then you do really know on what you should gonna do. Although it wont really be giving out that sure thing
about success or profits but at least you do already know on what you should gonna do in compared into those people who are having no idea on what they are really that doing or gonna do.
You would really be able to see the significant difference in between two when experience is really something in talks.

That's what differentiates experienced traders from beginner traders. Those who are experienced will definitely get up and quickly take action when they feel a loss. Their experience and knowledge is very helpful in this regard.

Meanwhile, those who are inexperienced may tend not to be able to do anything, because of course a loss is something difficult for them to experience. They had to gather their mentality again because of the losses they experienced.

It's true that when they experience a loss, they have run out of money and have no more capital to trade, but we know that there are many ways to get money from cryptocurrency and it does require a process. At least we have to try again to get more trading capital and rise from adversity. Use your experience as an important lesson to be more careful when making decisions.

[Uruhara]

Crypto trading looks tempting and no doubt is very beneficial if executed properly. It's like a double edge sword.

Recently a famous Pakistan Tik Toker reveal his story about how he lost almost $72K in crypto trading. According to him he started crypto trading after seeing his friend making profit from crypto trading. He initially faced loss of $10.5k (3 Million Pak rupee) and told this about that. His friend replied that such loses are normal and you should invest more to recover loss. He invested more and ends up in overall loss of $72k.

He hasn't shared details of which token he bought, it's price, timeline etc but what I deduce from his story is that he started trading seeing his friend making profit and thought he too will make profit. He doesn't have any plan to follow and if you are coming to crypto trading with this mentality then you are deemed to loss. Crypto trading requires you to have an execution plan with you which you have to follow carefully.

More details here https://www.samaa.tv/2087311573-tiktoker-zulqarnain-sikandar-faces-rs20-million-loss

This person's mistake is that he only has a strong mentality but he is not ready with insight and experience in the crypto market. And it could be said that he was too hasty. Even though he could first learn more and make several experiments with small capital. If he can make a profit with a high ratio of profits to losses, then he can add capital. And not the other way around. He actually did the opposite by adding more capital when he had just lost. This is reckless and should be avoided by every trader. Don't let us feel ready just because we read and watched several tutorials on YouTube about trading. Because in the real market there are other things that must be considered. Such as fundamental analysis and also trading psychology or something like that. Hopefully he can learn from this loss and make him more careful in the future.