I have been at this for 4-5 months and I burned 3 accounts.
First, I burned a $20 account, all because I wanted to turn it into $100 quickly using high leverage, I wanted to feel like those who say they make hundreds every day.
Then I put in $30 and started studying, and there I learned things like managing my emotions and consistency and discipline, but it seems I didn't study enough because I gradually burned it with 25x-30x leverage.
I tried again with $30 and doing almost the same thing as before, I noticed something. All the new coins always dropped drastically after their launch. I wanted to take advantage of that. I waited for a new coin and convinced of this new "strategy," I put everything I had into several trades with considerable leverage, doing something like grid trading by placing orders during the big drops that happened after rebounding from some of them.
It worked very well for me, I made $250 in one day with $TREE .
I felt like a genius, like the new market promise that in just 3 months multiplied his $30 account by 10.
Since I felt so confident, I forgot how I lost my previous 2 accounts.
In the eagerness to make at least $30 daily, I put in even half of the total account into trades with 25x leverage.
In one of those trades, I lost $110, and I felt like my world had collapsed; I wanted to recover it forcefully and put everything else into another trade. I ended up burning my $310 account up to that point.
Now after all that and 3 burned accounts, I hope I have learned enough to control my emotions and at least be able to say that I improved my trading strategies over this time.
Here in the image, I lost $13, it was painful, but I don't intend to let my emotions take over; everything I lost, I will get back again, but soon, not today, and maybe not even tomorrow, but with patience, I will have it.
