What Are Your Loss Control Strategies?

[milewilda]

It is not necessary to stop trading even if we rely on other traders until now. We can start learning trading seriously, so we won't rely on other traders again someday. I agree that relying on other people won't make us trading properly. We must do it alone, we must have the ability of making analysis. In this way, we can be a true trader, we have the proper ability to be a real trader. But it needs a process, it won't happen suddenly.

I want to agree with you and I also want to say that we can do copy trading or following the analysis some times but it should be also do some own analysis. So even if you want to follow or rely on some trader you should obviously choose an trustable and professional trader and then you have to have also the basic analysis skills then make own analysis on the base of their signal then you can do your trading. But I don't think relying on others trader blindy was wise idea.
And doing trading by self is the best if you are newbie you can start your trading with small fund also.

I have been trading for more than 88 years, and that is trading alone. I did research and made my own analysis of coins that I thought were suitable for trading. In my opinion, it's best to do your own research and analysis in trading, don't follow other people, because this is our money.

I fully agree with you because I will trade with my money if I analyze well then I can get good results don't go trading on other's words sometimes if you want to train you can lose your money because your own experience is the most important thing in trading  in case  So you check the market without listening to others and you decide which trading you want to do, which points you want to buy, which coins you want to hold, it is entirely up to you.

Actually its not really that bad to see or hear out someones or other peoples views and their own analysis on which this could potentially helpful if you do find somehting which would really be considerable. The only issue on here is that there are really those people who are really that having that fully relying into what those people been saying or doing on which they had already forgotten their own analysis and did really decided to use those other peoples strategies. Sooner or later, they would really be able to feel out that kind of regret on what they have done
because if they were really just that sensible then they wont really be coming up into this kind of option.

[Crypto Library]

I have been trading for more than 88 years, and that is trading alone. I did research and made my own analysis of coins that I thought were suitable for trading. In my opinion, it's best to do your own research and analysis in trading, don't follow other people, because this is our money.

Dude you have mentioned 88 maybe mistyped or something I think it is may be 8 years?

Anyway If you do your trade by your own analysis then you are in the right track of trading. And it's good to know that here people are doing own instead of depending others.
And when people do their own analysis and trade the experience they will have those can't be buy any amount of money.
That is why I always suggest people do trade by self if you beginner or want to follow someone then don't just blindly follow them making verify by your analysis then jump into trade.

[Aanuoluwatofunmi]

We can make use of a loss control strategy base on how we have understand the particular strategy in use and the pattern along altogether, we may make use of any of the strategies we have developed or from the common ones other people make use of, but the funny aspect of it all is that there is no control in hundred percent over the lost we may have in any of the trades we make except we are just lucky about making it happen the way we expected from it.

[Jamal Aezaz]

It is not necessary to stop trading even if we rely on other traders until now. We can start learning trading seriously, so we won't rely on other traders again someday. I agree that relying on other people won't make us trading properly. We must do it alone, we must have the ability of making analysis. In this way, we can be a true trader, we have the proper ability to be a real trader. But it needs a process, it won't happen suddenly.

Not only in trading but in every field we have to learn by ourselves without depending on others because if we ask for every little thing to others then it will become hard for us to decide according to our conditions. We can do each and everything and if we are interested in learning then we will learn to trade and eventually after every good and bad moment we will become traders with good fortune.

If we are dependent on others then we will not be a kind of trader who is capable of doing trade with their own efforts and knowledge so in such a way trading will become hard for us therefore I think we should learn by using our mind because trading is hard only for those who don't learn well.

[UNIVERSE]

I want to agree with you and I also want to say that we can do copy trading or following the analysis some times but it should be also do some own analysis. So even if you want to follow or rely on some trader you should obviously choose an trustable and professional trader and then you have to have also the basic analysis skills then make own analysis on the base of their signal then you can do your trading.

Copy trading is a bad way, it means we have no our own style in trading. The best way is to have our own style and with our own strategy in trading. But to have this, we must take serious lessons. That's why we must focus on learning first when we are a newbie in trading. We need to improve knowledge, skills, experience, and mentality. If we have enough these basic things, we can easily do any analysis.

And doing trading by self is the best if you are newbie you can start your trading with small fund also.

Yes, we must always start with small funds. The chance to get losses is higher when we are a newbie because we still get difficulty to trade in a proper way. Moreover, we must focus on learning, we don't too focus on the profits. We can use bigger funds when we are very sure to have good knowledge.

[Crypto Library]

Copy trading is a bad way, it means we have no our own style in trading. The best way is to have our own style and with our own strategy in trading. But to have this, we must take serious lessons. That's why we must focus on learning first when we are a newbie in trading. We need to improve knowledge, skills, experience, and mentality. If we have enough these basic things, we can easily do any analysis.

Yeap, I do agree with your opinion. Recently we have also seen this copy trading features on some exchangers but Even then there some peoples can take profit but I saw my friend loosing on it. In this case I want to say that even if you follow a experienced trading but there is no guarantee of it he will make profit in the next trade of his so  even you follow a experienced trader you can face loss.
And doing copy trading have nothing valued to your experience so that I find it worthless and not gonna prefer to some one else

[erus]

  , so I would like to ask how do you guys control your loss and, most importantly, recover from it to continue trading?

I'd rather close my trade because I'd rather go straight to the real world. I don't want to be sad about the losses of trading in cryptocurrencies.
I mean, I don't want to be stressed due to losses in trading because basically I trade with the Spot type, so the possibility is that 1 day, 1 week, 1 month and 1 year (for example buying Bitcoin) in the future the price of the coin I bought will rise return.

[Mr. Magkaisa]

I could remember trying something new with my trades back then. I challenged myself to try futures trading and be consistent with my profits, I tried with less than a $100 account and was able to make some decent profits, but greed as they said, made me lose everything to volatility and I was back to zero because after I saw the profit, I saw a little loss and i wanted to recover it at all costs and while I didn't use a stop loss, I traded with my emotion and before you know it, everything was gone.

It's a day to learn the hard way for me and I do wish that futures trading platforms would develop something to help people like me get back on their feet then because it took me a whole lot to get back on my feet both psychologically and account wise, because if it was a spot trading, at least I would have the asset to hold on to till it rises, so I would like to ask how do you guys control your loss and, most importantly, recover from it to continue trading?

      -       I remembered when I was just starting out in futures trading, the features of it were actually a bit difficult to understand at the beginning.

Always at the beginning, you will feel and observe the movement in the future compared to the usual spot trading.
then I only put a small fund first so I could see for myself how far my understanding of trading is, and it's not that easy, but later on, while I always lose, I see where I'm wrong, and it's enhanced, so I somehow do it myself.

[B.Trader]

I could remember trying something new with my trades back then. I challenged myself to try futures trading and be consistent with my profits, I tried with less than a $100 account and was able to make some decent profits, but greed as they said, made me lose everything to volatility and I was back to zero because after I saw the profit, I saw a little loss and i wanted to recover it at all costs and while I didn't use a stop loss, I traded with my emotion and before you know it, everything was gone.

It's a day to learn the hard way for me and I do wish that futures trading platforms would develop something to help people like me get back on their feet then because it took me a whole lot to get back on my feet both psychologically and account wise, because if it was a spot trading, at least I would have the asset to hold on to till it rises, so I would like to ask how do you guys control your loss and, most importantly, recover from it to continue trading?

[UNIVERSE]

Yeap, I do agree with your opinion. Recently we have also seen this copy trading features on some exchangers but Even then there some peoples can take profit but I saw my friend loosing on it. In this case I want to say that even if you follow a experienced trading but there is no guarantee of it he will make profit in the next trade of his so  even you follow a experienced trader you can face loss.
And doing copy trading have nothing valued to your experience so that I find it worthless and not gonna prefer to some one else

Yes, copy trading doesn't guarantee for the success. Even if you use the feature, you still can't get losses. Moreover if you don't really understand how to use the copy trading properly. I think it is much better to use our own strategy that we know well. We don't need to try following other people strategy that also has no guarantee for the success. Use our own strategy that we believe to work well for the current market condition. 

[Crypto Library]

Yes, copy trading doesn't guarantee for the success. Even if you use the feature, you still can't get losses. Moreover if you don't really understand how to use the copy trading properly. I think it is much better to use our own strategy that we know well. We don't need to try following other people strategy that also has no guarantee for the success. Use our own strategy that we believe to work well for the current market condition. 

Copy trading features is for the newbies who don't know how to do the trading but what I think is even it is for the newbies if the newbies don't know any thing about the trading they will select the wrong person for making copy trade but even that he chose the top ranking one he can still face loss.
So I think if they don't  know how to trade then they should might get acquire knowledge about the trade then do the trade or he can start long-term holding with the DCA method on bitcoin without going for the trading.

[UNIVERSE]

Copy trading features is for the newbies who don't know how to do the trading but what I think is even it is for the newbies if the newbies don't know any thing about the trading they will select the wrong person for making copy trade but even that he chose the top ranking one he can still face loss.
So I think if they don't  know how to trade then they should might get acquire knowledge about the trade then do the trade or he can start long-term holding with the DCA method on bitcoin without going for the trading.

If the newbies don't know how to trade, it is better to focus on learning first. Do trading with copy-trading seems not a wise idea, it is still too risky for them. If they want to hold for a long term, it also requires knowledge. We need to know how to choose the coins that can be good for holding a long term. Or if we don't want to do a research or analysis, kindly choose Bitcoin. Newbies can focus on investing or trading Bitcoin if they still have lack of knowledge. Bitcoin is the most secure and recommended coin, but we still need to have good knowledge. We need to know how to determine the time for entry and exit. 

[Hamza2424]

Hmm, Quite an impressive topic and I've scanned some of the posts previously and as well in my view one who is a learner here should read all the replies it will be a great learning strategy in a short time, because there are many decent replies from quite experienced members, for me I would say avoid the futures market this should the first strategy to follow for the rest you'll know by yourself.

I would love to quote all time famous line here "Be greedy when everyone is fearful and bee fearful when everyone is greedy this is the key to success in my view".

[Hatchy]

It is very normal to have losses while trading, it is not predictable but i am almost always prepared for whatever the outcome maybe. from my experience, this is how i think anyone should recover from losses in futures trading, firstly, focus on controlling your emotions, implement strict risk management like using stop-losses, and re-evaluate your strategy. When you go again, you should start small to rebuild confidence and consider using platform tools like demo accounts to practice..because continuous learning and disciplined trading are key to bouncing back and to avoid past mistakes from repeating itself.

[pawel7777]

(...)
Yes, copy trading doesn't guarantee for the success. Even if you use the feature, you still can't get losses. Moreover if you don't really understand how to use the copy trading properly. I think it is much better to use our own strategy that we know well. We don't need to try following other people strategy that also has no guarantee for the success. Use our own strategy that we believe to work well for the current market condition. 

Copy trading is not as easy as it sounds. It's not a bad strategy if you know the person you wish to copy is legit and is willing to share their moves. But sometimes all it takes is one wrong move or bad timing, e.g. when you're not there to buy/sell an asset at the same time as the original trader, or when you don't have available resources to perform similar trade as they did.
I believe some platforms, like eToro offer an option to automatically copy your chosen traders, but that exposes people to being abused by highly followed traders. Also, most retail investors would lose money trading on that platform, so I don't think copy trading is any sort of universal, golden solution. The best option for many would still be investing and holding long-term prospective assets.