What is your plan when you lose big in crypto trading?

[Mia Chloe]

Crypto traders should always have a backup investment just Incase your trade goes sideways, we have heard stories of people blowing their trading accounts worth thousands of dollars and having nothing to fall back to because they lack proper planning. When you are stacking up your profits do not spend on Mondane or irrelevant things, focus on investing in other assets both online and physical that can serve as a backup when you lose big in trading. Preparing for it is better than having no plans at all. Always withdraw the profits you make on every trade so you can put it into other things

The idea of going all in in a trade is never advised though it can be profitable sometimes. Infact trying to minimise risks by avoiding that is where the whole smart money concept of a thing is directed towards. Trading can be frustrating sometimes times especially when you have a lot of consecutive losses, sometimes it may probably be that you are making use of the wrong strategy however some other times may just be an emotional factor.
Well the fact is markets can be really volatile sometimes and being able to scale through all those difficult periods of the market is what differentiates different traders. The goal of all traders is actually same although strategies may differ but it's same market.

[LUCKMCFLY]

Be it crypto currency or life, if we invest and we don't see any benefit in it, we should know that we are going to lose.  And if we have to prepare for it in advance, we will be able to move forward.
 Holding is more important than trading.  But sometimes you have to follow the market conditions,

In fact, we must realize what our greatest strength is, whether investment or market Speculation, being a trader is not easy, it is always being on the edge and getting used to adrenaline, even losing when it is almost a very safe Operation , it is facing that type of addictions, if we are prepared for that we must know that what can happen is very bad to lose, and winning is another thing , I have always said if you win enough, what you should do is withdraw at least 50% and spend it , feel that money.

[Rubel007]

Bitcoin is the safest coin to invest in, I agree with you. Ethereum is the second altcoin, it is also safe for long term holding. Luna is my mistake in the past investing in this coin. And I think altcoin is not safe for long term investment.

FTX was the worst crypto that ever climbed to billions to died in just two days, Solana and Avalanche where also next in line but what help them was that they had a come back and strong buy as well as strong community. If not for their intervention, many of them would be as good as dead for long because the FTX loss was too real.

I just hope that such things don't continue in crypto because such things cause a big disability in crypto. It's because of the past events and things of such why we are yet to have a bull run like the previous ones, people are now skeptical about the trust in the market.

I don't consider Luna and FTX investors to be wrong investments at that point because these two coins were quite strong according to the market. FTX Exchange was one of the reliable exchanges but no one imagined that Do Kwon and Sam Bankman-Fried would be involved in such a big scam where FTX was turned into an established business. Investors lost all their investments in just a few days. A strategy to grow wealth slowly rather than hoping for quick profitability is to move away from our desire to get high profits in investing. So investing in Bitcoin is safest considering all aspects.

[jonkibri123]

I think it’s important that we share ideas and prepare for the worst. What steps do you take to manage your losses, and how do you recover from them mentally and financially? Let’s exchange thoughts and help each other navigate through the tough times. Please share your approach!

[LUCKMCFLY]

My plan is basic, review why I lost, where I went wrong, not trade right away, wait and see what happens, it is also better to reflect a lot, write down if necessary, but it is always good to do things in a coherent way, and again trade only when you have a more focused analysis of the current situation or have the most correct vision of the market, the good thing is that the market always gives good entries, no matter how much time passes , the market always gives us entry opportunities and very good entries.

[Sukii]

Well I think we should face focus on how to avoid these big losses although trading may not always go according to our plan it is essential that we establish properly calculated stop loss and should know when to exit a trade
Should also try reducing the amount they are willing to risk on a particular trade
Although they are more but these few points can help.us reduce our loses as traders
Now in a situation where someone has lost a huge amount of money due to one reason or the other and advice I can give will be to take a short break from the market
It may be just a few days or a week but take a break from trading so that you can clear your thoughts then come back when you are ready because the simple truth is that loses are part of the game wetter you like it or not
Well this is just my opinion I'm open to corrections

[Jating]

My plan is basic, review why I lost, where I went wrong, not trade right away, wait and see what happens, it is also better to reflect a lot, write down if necessary, but it is always good to do things in a coherent way, and again trade only when you have a more focused analysis of the current situation or have the most correct vision of the market, the good thing is that the market always gives good entries, no matter how much time passes , the market always gives us entry opportunities and very good entries.

For me, before reviewing what went wrong, I would have taken a day or two with that big lose and try to get it out of my mind first. And once I'm cleared, then that is the time that I'm going to review and identify my mistakes.

And obviously, we should right it down and that we can go back at it again and not forget about the biggest mistakes that we have done so far. So it's going to be really refreshing to go out first, it's like a reset button for me. And then come back with more vigor and then not let those losses be a hindrance to your success.

[satpol_PP]

My plan is basic, review why I lost, where I went wrong, not trade right away, wait and see what happens, it is also better to reflect a lot, write down if necessary, but it is always good to do things in a coherent way, and again trade only when you have a more focused analysis of the current situation or have the most correct vision of the market, the good thing is that the market always gives good entries, no matter how much time passes , the market always gives us entry opportunities and very good entries.

For me, before reviewing what went wrong, I would have taken a day or two with that big lose and try to get it out of my mind first. And once I'm cleared, then that is the time that I'm going to review and identify my mistakes.

And obviously, we should right it down and that we can go back at it again and not forget about the biggest mistakes that we have done so far. So it's going to be really refreshing to go out first, it's like a reset button for me. And then come back with more vigor and then not let those losses be a hindrance to your success.

when I experience defeat I will learn where my mistake is and make a new analysis so that no more mistakes occur. We are not always right, sometimes we make mistakes and suffer losses in investing, I often make mistakes when trading but I have my own strategy to keep making a profit with the diversify method.

[LUCKMCFLY]

For me, before reviewing what went wrong, I would have taken a day or two with that big lose and try to get it out of my mind first. And once I'm cleared, then that is the time that I'm going to review and identify my mistakes.

And obviously, we should right it down and that we can go back at it again and not forget about the biggest mistakes that we have done so far. So it's going to be really refreshing to go out first, it's like a reset button for me. And then come back with more vigor and then not let those losses be a hindrance to your success.

It's a good strategy, if that works for you then welcome, although I take it more relaxed because I start from the fact that losing in trading is something normal, that's the normal thing, however what I don't see well is that the neutral balance should always be positive , and when our balance is more negative and positive I worry because I'm seeing the trading in a way that it shouldn't be seen, and that's something to correct, and sometimes it's not from one day to the next that one Understands it, sometimes I spend weeks to get out of my doubts and try to see the market in the Correct way , because I don't understand it and I don't operate until I have more clarity.

[SmartGold01]

My plan is basic, review why I lost, where I went wrong, not trade right away, wait and see what happens, it is also better to reflect a lot, write down if necessary, but it is always good to do things in a coherent way, and again trade only when you have a more focused analysis of the current situation or have the most correct vision of the market, the good thing is that the market always gives good entries, no matter how much time passes , the market always gives us entry opportunities and very good entries.

For me, before reviewing what went wrong, I would have taken a day or two with that big lose and try to get it out of my mind first. And once I'm cleared, then that is the time that I'm going to review and identify my mistakes.

And obviously, we should right it down and that we can go back at it again and not forget about the biggest mistakes that we have done so far. So it's going to be really refreshing to go out first, it's like a reset button for me. And then come back with more vigor and then not let those losses be a hindrance to your success.

when I experience defeat I will learn where my mistake is and make a new analysis so that no more mistakes occur. We are not always right, sometimes we make mistakes and suffer losses in investing, I often make mistakes when trading but I have my own strategy to keep making a profit with the diversify method.

Mistake is something constant and no matter how you try to get perfect you can't stop making mistake, you can try to reduce it but can't entirely be eliminated from human because without mistake there will be no correction and without correction there be no mistake as well. That's why people trade and lose money and you would see them make all form of promises to themselves but after that very moment you would see them exclaimed again for there errors and they still keep learning from their mistakes.

[MRY]

My plan is basic, review why I lost, where I went wrong, not trade right away, wait and see what happens, it is also better to reflect a lot, write down if necessary, but it is always good to do things in a coherent way, and again trade only when you have a more focused analysis of the current situation or have the most correct vision of the market, the good thing is that the market always gives good entries, no matter how much time passes , the market always gives us entry opportunities and very good entries.

For me, before reviewing what went wrong, I would have taken a day or two with that big lose and try to get it out of my mind first. And once I'm cleared, then that is the time that I'm going to review and identify my mistakes.

And obviously, we should right it down and that we can go back at it again and not forget about the biggest mistakes that we have done so far. So it's going to be really refreshing to go out first, it's like a reset button for me. And then come back with more vigor and then not let those losses be a hindrance to your success.

when I experience defeat I will learn where my mistake is and make a new analysis so that no more mistakes occur. We are not always right, sometimes we make mistakes and suffer losses in investing, I often make mistakes when trading but I have my own strategy to keep making a profit with the diversify method.

Mistake is something constant and no matter how you try to get perfect you can't stop making mistake, you can try to reduce it but can't entirely be eliminated from human because without mistake there will be no correction and without correction there be no mistake as well. That's why people trade and lose money and you would see them make all form of promises to themselves but after that very moment you would see them exclaimed again for there errors and they still keep learning from their mistakes.

Agreed, that Mistakes are a necessary part of the learning process, they particularly apply to trading. Though we will try to reduce them, they are inevitable since the market environment is never fully controllable. The important thing is how we get it wrong and the crucial thing is not to do it to ourselves, but to understand what went wrong and to get it right the next time around. Each time, we plan poorly for a particular situation, or the outcome is negative or not what was expected, the better we analyze our strategy, our plans, and our analytical skills. Thus, failing is not an ending, but a step to the winning in trading world, as well as any other field.

[LUCKMCFLY]

Mistake is something constant and no matter how you try to get perfect you can't stop making mistake, you can try to reduce it but can't entirely be eliminated from human because without mistake there will be no correction and without correction there be no mistake as well. That's why people trade and lose money and you would see them make all form of promises to themselves but after that very moment you would see them exclaimed again for there errors and they still keep learning from their mistakes.

Yes, making many mistakes in a row is what sometimes makes us burn accounts in trading, now I have not burned but I have been very close to that, but there was something that made me react, I don't know if it was because of my wife who told me that it didn't matter if I burned her, that the important thing was to keep insisting, that not everything is done the first time, that you shouldn't give up, if you burn yourself then you deposit again, even if it is with little but keep insisting until you reach the goal, sometimes what we need is not only to learn from mistakes, but that drive, or that desire to do things because we must insist that they are fulfilled.

[Sim_card]

Crypto traders should always have a backup investment just Incase your trade goes sideways, we have heard stories of people blowing their trading accounts worth thousands of dollars and having nothing to fall back to because they lack proper planning. When you are stacking up your profits do not spend on Mondane or irrelevant things, focus on investing in other assets both online and physical that can serve as a backup when you lose big in trading. Preparing for it is better than having no plans at all. Always withdraw the profits you make on every trade so you can put it into other things

The idea of going all in in a trade is never advised though it can be profitable sometimes. Infact trying to minimise risks by avoiding that is where the whole smart money concept of a thing is directed towards. Trading can be frustrating sometimes times especially when you have a lot of consecutive losses, sometimes it may probably be that you are making use of the wrong strategy however some other times may just be an emotional factor.
Well the fact is markets can be really volatile sometimes and being able to scale through all those difficult periods of the market is what differentiates different traders. The goal of all traders is actually same although strategies may differ but it's same market.

Trading is very complex and one needs to take much time studying and practicing in order for you to improve yourself. The market is unpredictable and that is where the challenge is, because one wrong move, you will loss all the little profits that you have made in many trades. However, there are still people who are making profit from trading because they have a good strategy to make that happen. Trading is stressful, time consuming and plays with your emotions, making it difficult for everyone. If I loss big in trading, I will switch into investing.

[Agbe]

If I loss big in trading, I will switch into investing.

You don't have to wait till you lose big before starting your investment instead you can do the two side by side and invest more than trading. I think from the experience I have gotten, I don't think there is skill needed in investment but it is big time needed in trading. As as you said, trading need long term training and not to make profit in a very short time. And that why I said those who are involved in trading needs investment as backup so that they would not breakdown when they are on the losing side.

[Mia Chloe]

Trading is very complex and one needs to take much time studying and practicing in order for you to improve yourself. The market is unpredictable and that is where the challenge is, because one wrong move, you will loss all the little profits that you have made in many trades. However, there are still people who are making profit from trading because they have a good strategy to make that happen. Trading is stressful, time consuming and plays with your emotions, making it difficult for everyone. If I loss big in trading, I will switch into investing.

The sincere truth is fif deep down you are not determined enough you won't progress in your trading journey. Trading isn't supposed to be a side hustle rather it's a skill that requires a lot of dedication and determination.  Where some persons also get it wrong is taking trading as a side option and literally having a plan B you can easily jump to .

The truth is as a newbie trader you will definitely lose to the market and even most times even more than you get from the market. However gradually you will begin to gain. Experience and notice your flaws if you continue to practice . Trading is more of practice and self experience than being Spoon fed with signals.