My Experience and Rookie Mistakes in Futures Trading
I want to share my initial experience in the world of trading, specifically in futures.
I started with my first 6 USDT in profit without having the slightest knowledge of how the market worked. I never traded with large sums; I always used only 1 USDT or my own profits to trade.
The big problem was my inexperience:
1-I didn't know how to read charts.
2-I didn't understand the risks: I was getting into 50x or 20x leverage risking that dollar, without understanding that liquidation was imminent.
3-Euphoria Dominated Me: Seeing that I made up to 15 USDT in a single day, I wanted more and more. This led me to neglect the basic rules and, worst of all, not to use Stop Loss. Every time I lost, I lost the whole dollar.
The critical moment came: I lost a dollar and, wanting to recover it immediately, I put in another... and lost it instantly. I started trading impulsively, without analyzing charts, which led me to lose all of my 15 USDT.
Although it is a minimal gain, it was all my operating capital.
I share this experience so that other rookies like me do not make the same mistakes:
The Recovery Mistake: Losing and continuing to invest until losing everything (revenge trading).
The Leverage Mistake: Using 50x without prior knowledge.
The Base Mistake: Trading in futures without a solid foundation of analysis.
I will continue studying in much more detail. I would greatly appreciate it if you leave your advice so I can take notes and improve in this new and exciting field.
P.S.: I learned several things the hard way, which complicate things for me now, and I am trying to study how to read the chart, the movements, the trade book, etc.
#AprendiendoCripto #nuevosenbinance
