Tell me about your worst trading loss, how did it happen, what did you do to prevent that from happening again.
Worst Loss
- Thread starter thomas_novak
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The worst one was when I opened a trial on doge coin, and that was when crypto market was volatile and it was making a lot of sharp moves, I first opened the trade and just then tried to determine my SL, but the moment that I opened it, I was stop out! then I realized i should never open a leverage including trade on any crypto, not even BTC, let alone very violated coins like doge.
I think that the worst loss I have ever had was the result of my ineffective risk management and lack of education. I was disappointed because it causes a significant loss.
I started to use stop loss and avoid trading during news or assets with low liquidity. Then you can almost guarantee you won't lose more from a trade that the size of stop loss.
Cryptos.. I did a lot of analysis on doge coin and well stopped trading them, not setting a sl and also did not expect that amount of volatile.. it still hurts, maybe that is the reason I hate cryptos, why the hell should I trade sth that I don't know what it is or where it is located or what is behind that..
My worst loss is 1K but it's because I didn't set stop loss, but lesson learned won't happen again.
Trading cryptos, especially volatile ones like Dogecoin, can be emotionally insecure, especially if you don't fully understand the asset or have clear risk management strategies in place, leading to potential aversion or distrust towards the entire cryptocurrency domain.
I don’t which one to mention! My life is full of losses and I hardly see any recovery.
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