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    Thread: [Overview] All experience in Cryptocurrency

    1. #1
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      Default [Overview] All experience in Cryptocurrency

      I was introduced to cryptocurrency trading since December 2016 by a friend and I had to give it a try using my strategy to trade bitcoin in a demo. After I traded the demo account for a month, the results was very impressive due to the bitcoin is volatile. Then I had to replicate the same strategy with bitcoin in my real account and was able to grow my account from $200 to $1600 within 6 months. The account grew so far within a short time because I was risking more than 10% per trade which is very dangerous. That was when the market was stable and volatile.
      Then by last year october, when the bitcoin market became excessively volatile I started incurring huge losses and my dropped from $1600 to about $400 within just a month and half and I almost weeped. I came to realize how deadly cryptocurrencies can be and had to learn my lessons never to be greedy. So right now my account is gradually recover and has gone back to about $800 now but due to the small risk I was trading, I took me about about 5 months to build it back.
      I learnt my lessons never to be greedy most especially if I am trading crypto.


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    3. #2
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      I also had a substantial amount of experience while trading cryptocurrency like Etheruem, Bitcoin, Ripple, Blackcoin and Bitcoin cash, These are good trading instruments to choose for a trader who wants to make cryptocurrency their major trading instrument. Anyone that desires can end up becoming a cryptocurrency trader, But before that they would have to learn it separately because they are unique and thus should need more care in learning, Trading and handling so that we can get our desired trade results. I am a swing trader and as such i enjoyed Cryptocurrency trading because swing trading best results are delivered by very Volatile pairs.


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    5. #3
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      the great thing in this subject is the experience and the knowledge that you got it from your mistake because there are no problem if we made mistakes while our trading but the big problem is if we didn't educate from it so in your subject i see that :

      - you used stop loss and this made you keep 400 dollar in your account after your big loss .

      - you learned to avoid the trading with high risk again and this will made you trade with discipline next time .

      - you traded again with your rest balance 400 dollar but with low risk and money management and this leaded you to making good profits and your balance now 800 dollar .

      - you learned well to never trade with high risk or greed because the trading with high risk eventually end with a big loss .

      all these lessons are the real balance that you have it now because the experience is the real capital in this business and by it i am sure that you will cover all your loses and you will never repeat the mistakes that caused the loses to you again .

      good luck to you in your next trading and try to avoid trading in bitcoin when you see it have speedy movements .


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    7. #4
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      Quote Originally Posted by elssayed View Post
      the great thing in this subject is the experience and the knowledge that you got it from your mistake because there are no problem if we made mistakes while our trading but the big problem is if we didn't educate from it so in your subject i see that :

      - you used stop loss and this made you keep 400 dollar in your account after your big loss .

      - you learned to avoid the trading with high risk again and this will made you trade with discipline next time .

      - you traded again with your rest balance 400 dollar but with low risk and money management and this leaded you to making good profits and your balance now 800 dollar .

      - you learned well to never trade with high risk or greed because the trading with high risk eventually end with a big loss .

      all these lessons are the real balance that you have it now because the experience is the real capital in this business and by it i am sure that you will cover all your loses and you will never repeat the mistakes that caused the loses to you again .

      good luck to you in your next trading and try to avoid trading in bitcoin when you see it have speedy movements .
      Yes, you are right because the huge loss I incurred then was so substantial and because of that I had to learn my lessons in a very hard way. It made me to start being a risk-averse trader and it has made me to gain a great deal of experience. I have come to realize that in forex trading, a loss is inevitable no matter how good or profitable the strategy is and that is why I have been very careful never to risk at least 5% or at most 7% per trade. When you risk small, even if the market goes against you, you will not lose as much as when you risk big. So I will advise traders never to risk what they can afford to lose in other to stay profitable and not to have a deficit in their accounts.


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    9. #5
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      Default What is your good or bad experience on trading the cryptocurrency?

      Some traders are already smiling to the bank regularly, thanks to cryptocurrency trading, while others got their fingers burnt. What is your good or bad experience on trading the cryptocurency?
      POSSIBILITIES ARE INFINITE IN THE FOREX MARKET, YOU CAN ACCOMPLISH ANYTHING !


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    11. #6
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      I think cryptocurrency trading very profitable but very painful for me. I face loss not a single time and it's very difficult to proper analysis. Now I am try to avoid cryptocurrency trading. I always believe if I can achieve good skills, good experience, proper market analysis, control emotions and avoid greed before open position in cryptocurrency then I will be success other wise I will face loss again and again.
      Everybody should get proper knowledge, proper market analysis, follow strong money management and discipline before open position in cryptocurrency other wise simple mistake can bring big loss.
      So we should try to best success near other wise Forex success very difficult. Thank you.


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    13. #7
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      All must have knowledge, most beginner traders like me just tempted big profits or more severity of any profit obtained do not really understand the science of trading and the world of crypto, just eager to get instant profits because it may be affected from someone's luck story when trading.
      Should indeed if you want to invest or try trading it, done first check, either follow the thread or ask questions, do not immediately believe let alone all in. If all in the investment is greater risk than fortunately, especially if the person himself just started trading. I still do not feel sorry if I met so, wrong own exposed issue and not cross check the fact first.


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    15. #8
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      Well I have experienced many negative and positive circumstances in the cryptocurrency markets, I found out about them through an online forum in my place, then the race for them was still picking momentum, I am talking about when the price of one bitcoin was around $700, then it began to rise and fall with people being skeptical about what would become of it, some already thought it was over priced and a bubble or crash is on the way but then it kept going up, that was when different ponzi schemes sprang up using bitcoin as their means of pledge to each other. I invested made some money and later lost a lot more. It was not a good experience because I was distraught.


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    17. #9
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      i have a very bad experience on trading the cryptocurrency i traded in bitcoin from a period when it reaches 15000 dollar and i said that it must back again for not less than 1000 pips so i opened one trade on bitcoin with 50 cent per every pip without stop loss but the price keep its moving to 19000 dollar so in this trade i lost all my balance that i had it in my account because i didn't make any stop loss to this trade .

      So i learned that there are no any thing we can guarantee it in Forex specially in cryptocurrencies so we haven't to trade in these currencies with big balance without stop loss but we have to trade always with stop loss and we have to trade only with small part of our balances to avoid the big loses that we may make it .

      So after the big loss that i faced it in Cryptocurrency trading i leaved it and i returned again to the trading in the normal currencies as eur/usd gbp/usd usd/jpy because these currencies are my favorite currencies in the trading .


    18. #10
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      Apart from the bitcoin which is known to be the mother of all bubbles, the other cryptocurrency that I got involves in seriously was The Billion Coin (TBC) as it widely known.
      Because I was not satisfied with the profit I was making through forex I was trying to get something stable in terms of profit to support myself.
      I was eventually introduced to this TBC and a friend of mine took his time to convince me to invest reasonable money. I had a lot of caution within me so I was not actually convinced but at the end of the day I was able to put in little money .
      The investment was yielding seriously then I decided to test how genuine the business is by trying to make a withdrawal. From that point all my efforts were to no avail till today
      It was actually a very bad experience


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