Hello, I think many would like to go back and correct their mistakes - unfortunately, this is not realistic. Today I want to tell a little about myself and give some advice to 'me from the past'.

What attracted me to crypto? I think, like everyone else - to quickly earn a lot of money and fly to Hawaii. At the end of 2023, all I heard was about the lightning rocket $BTC , which would take you to the moon, and a portfolio of altcoins would provide you with a comfortable life there 👍. That's how I started this difficult journey of ups and, of course, downs.

  1. The first thing I would tell myself - not to seek easy money, study the basicsrisk managementand create your own (after all, +100% to the deposit in a year is already a very good result, not many other instruments will give even 10%).
    And my first coin was $FTM, which is no longer on Binance. I bought it well, as it should be, for a whole"cutlet" and oh, the miracle! it went down - that was my first sleepless night, I really tasted the flavor of adrenaline (I'll talk about risk management in the next posts). But, in the end, I was lucky and managed to take about $200 on the rebound, happiness was overflowing 😅. In general, I miraculously did not lose the entire deposit from the start 🥳.
    As they say:"Crypto is full of sharks who want to grab their piece of the pie."

  2. The second thing I would tell myself - familiarize yourself well with the exchange's functionality, the basic rules, and trading tools (yes, I knew how futures differ from spot and what leverage is, but not more).

    It also happened that I was in a short position on $GLM and noticed that my money started to disappear somewhere - it was a treacherous financing rate of -2%, and the dump, as luck would have it, did not come. In the end - I was lucky again, it turns out I entered practically at the peak (by accident) and managed to recover the loss 🥶.

  3. And the last thing for today - I think everyone has heard of the legendary STOP LOSS, which no one has ever seen 👻.

    I noticed the coin $TURBO , it has already given +60% growth, and there were already reversal signals (I was more experienced, but not completely). I entered short with 25% of the deposit and everything seemed fine, but the coin started to rise - I added another 25% - averaged the position (we'll talk about how to do this correctly and in what cases later), but it didn't think about falling. Then I used such a tool as hedging (I'll explain later). But from the pump, which I did not expect at all, at +300%, it did not save me, I managed to recover a couple of hundred USDT, the rest burned. Thankfully, the entire deposit was not in futures.

    Just think, if I had set SL even at 20-30%, I would not have lost so much + maybe I would have reconsidered the coin and entered LONG. The conclusion is simple - never open a trade if you don't know where to set SL, especially with leverage.

Today I shared with you such small tips and a bit of bitter experience.
I'm curious, have you been in similar situations? Write in the comments - it will be interesting to read)

I plan to write sometimes, but what would you be interested to know?
Write your suggestions in the comments (educational content; sharing your experience; analyzing my trades and tools I use; trading opportunities (like signals); news; suggest your options).

I hope this post collects at least a few views 🥺.
P.S. Wishing everyone successful trading. With love - GreedyHamster 🐻.

#experience #easymoney #stoploss