Do I have Future with Futures Trading?
Before I start sharing my Crypto Journey particularly my Futures Trading Journey, Let me share my experiences with crypto world. My first encounter was earning through faucets and some free sites that rewards you with crypto by viewing ads, playing games, doing surveys and many simple tasks. I earned couple of bitcoins and other altcoins back then, Estimated not more than 50 usd in total. Back then my only goal is to earn one hundred dollars worth of crypto.
Yeah, It was too small, one reason was that I'm too busy during those times, And I only claim from faucets as a hobby only.
Enough of that intro, That would be published elaborately as a separate article. :)
What is Futures Trading?
A brief explanation, It is a type of trading wherein a trader buys a futures contract expecting that there will be a rise in value in the future. Contrarily, a trader sells a futures contract and will go short, expecting that prices will go down in the future.
My trading journey starts from 2019, But I only trade once in a blue moon. I usually engaged in spot trading, a very basic type of trading that is less risky compared to futures trading.
As years go by, my interest in crypto also expands and along the way I learned more and envisioned the potential crypto has. So I experimented doing futures without having enough knowledge about it. I heard there are some seminars or trading lessons, But the cost is too much, I can't afford investing to that.
So I did my own research, practice real trading with real money, But I only place cents in every position I had (came from my faucet earnings).
Then I stopped my trading for almost a year and focused on my studies.
Fast forward to the year 2020.
The regular schooling was stopped by the covid-19 pandemic. So, online classes opened an opportunity for me to earn a little using the internet, thus the crypto trading.
Now, I am going to share my PNL Analysis in my Futures Account to show my progress in this journey.
The PNL analysis is based from my Binance Futures Wallet.
On October 2020 is a month of my trading experiment mixed with busy schedule doing my homeworks. As a result of that, I earned Nothing.
I loss everything during this month. My capital starts with 3 usd and as you can see in the chart, All of it was lost. The cause of this loss was primarily due to overwhelming charts, I didn't actually understand the chart that time. Also doing technical analysis is too complicated especially that time.
November 2020, Another bad trade for me. Due to lack of experiences, drive to just earn and not analyzing the trend, and Bad decisions due to lack of knowledge. My capital dropped to zero.
I lost again everything. As you can see on the chart, Trading days has no movement, meaning I didn't trade much during November, I got discouraged on this Futures Trading, I guess I don't have future with this. :(
December 2020 came, I used some of my earnings in spot trading and try again this futures trading. With a goal to earn my first 100 usd in futures, I re-strategize things and grab some guts to face the risky world of futures trading.
And again, it's a badluck. Another losing month of trading, But this time my loss was too big compared to other months. I lost a total of 22 usd and a total of -15 usd net, Yeah that's too much for me especially I'm not rich. I'm just a student wanting to learn and earn.
That loss was too discouraging again, But I will not give up to earn and learn this.
Another month, another year, 2021 came.
Same strategy as December, But this time I managed my risk carefully. I didn't lose hope to earn and learn using this futures trading.
In this PNL Analysis for the month of January, I gained 132 usd and lost 23 usd, having a net profit of 108 usd.
Grinding each day to win every day, And my perseverance bear fruit.
As you remember in my intro, my only goal is to earn a hundred dollars and that's it. Now as I achieved it in a matter of 2 weeks, My next goal is to expand my crypto portfolio. Part of it is to earn 1 Bitcoin Cash.
Also as part of what I'm looking for in 2021.
Now, to answer the question "Do I have future with Futures Trading?",
Future is indeed upredictable, But what you do in the present affects the future. We create our own destiny.
So I will claim it, I have a Future in Futures Trading! :)
I heard there's a club forming here in read.cash, They called it #Club1BCH.
I am now planning to join this club, as they have the same goal as mine. But for now, I'm going to expand first my existence here in read.cash. I will continue writing my crypto experiences first. And at the same time achieve, little by little, achieve my next goal, saving 1 BCH in my portfolio.
I hope I could be a qualified member of that club. :)
Final Thoughts
Before I end this article of mine, I would like to impart to you some of my learnings and realizations.
First, In life if we have a goal, we should do our best to achieve it
Never give up when hard time comes, instead use it as a basis to fight for more
Knowledge is powerful, To start new things, Learn first and you will succeed
Focus to your goal, without compromising the ways to achieve it
Futures trading is not just to earn, But also you'll learn to decide in a complex situations
Lastly, Taking risk isn't bad, But taking risk blindly will cause nothing but harm
As what I've said, Trading is risky, This was just my experience and this is not a financial advice. Please learn the basics first, Practice with some demo coin and try real trading using small capital (cents if possible and lower your leverage).
*If you are interested with trading with Binance, Join here and you will receive a 10% commission kickback rate on your trade and I will receive a 10% commission too, as this has contain a referral link.
Thank you for reading up to this part. :)
I hope you find my hidden giveaway.
You can also check out my daily shares of my futures progress and some giveaways too in my noise profile.
Good luck to us
Trade safely!
lead image created by me using pixelLab
