I Lost $50,000 But Didn't Lose Hope: Lessons Learned

I recently lost $50,000, but I didn't let it break me. Instead, I learned some valuable lessons that I'd like to share with you all, so you can avoid making the same mistakes.

1. Avoid FOMO (Fear of Missing Out): No one becomes a millionaire overnight, not even Elon Musk.

2. Use leverage wisely: Always use minimal leverage and never trade with new coins.

3. Use stop-loss: It's essential to set a stop-loss to limit your losses.

4. Manage your losses: A small loss is bearable, but a significant loss can lead to mental distress.

5. Don't follow signals blindly: Never follow someone else's signals without doing your research.

6. Find a mentor: Having a mentor is crucial, but don't follow their signals; instead, learn from their experience and knowledge.

7. Stay updated with international news: Keep an eye on global events, both positive and negative.

8. Analyze coins thoroughly: Research a coin's support, resistance, demand, and supply before investing.

9. Stay alert during trades: Keep your eyes open and stay focused during trades; avoid sleeping or getting distracted.

10. Manage your portfolio: Only use 25% of your portfolio for trading.

I hope these lessons will help you avoid making costly mistakes in the future.