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    Thread: My experience with cryptocurrency trading

    1. #1
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      Default My experience with cryptocurrency trading

      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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      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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      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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      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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