A commonly known fact is that a significant amount of traders lose money. An estimated percentage is between 70% and 90% of them. I make my decisions based on probability and with the assumption that I am an average person. With that rationale, I will lose money trading. And that's why I don't trade because the odds are not good. And if you are new to cryptocurrencies, you really shouldn't trade either. I have read horror stories about people who got greedy and lost all their cryptocurrencies with margin trading. Please don't let it happen to you.
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3 comments
Traders lose what they deserve. They take precautions but market is unpredictable. I appreciate your insight and skills. I also don't afford losing funds. When market is red I save my funds and buy in the extreme dips.
I do trade but without stops and very limited leverage. These two thing alone have kept me on the winning side of most trades. For example, I left a buy order at 725 while price hit 1200, it wasnt painful because there was no leverage. It feels more like a hunter waiting for prey rather than trading.
I lost for the first time too lol because I don't have enough knowledge about trading.