This is something I have experienced, something most of you may relate to or may come across in future. More people are getting into crypto and stock trading. Today anyone can buy and sell stocks/crypto. Buying and holding crypto/stocks is a different thing and in my opinion the best way to do it. But, most of the people are greedy.

I have lost significant amount of money day trading crypto. I have lost so much money, I had no money left for my day to day use. This was a great learning lesson to me, though I am still recovering from this disaster, I have few lessons that I have learnt, things that I would never repeat and probably you can use it as caution if you are in this situation or getting into it.

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1. 90% of the traders loose!

Yes! This is true. Just because someone made a profit of 1000% this week does not mean they are in profit nor does it mean they will keep making same profit every week. Just like they made 1000% they can loose 2000%. Why not? Market is not in your control. You may not agree to this. Most of them who have suffered will agree. However, if you have held a stock/crypto for so long that it grew 1000%. Kudos! That's a different story. DO NOT GET INTO THIS RACE OR COMPETION IN TRADING!

2. Thinking you will trade and learn to trade side by side!

This is a recipe for disaster. When you win some, you get motivated to learn and do better. But, trading is a whole new world, where emotions and sentiments play a major role over fundamentals. Most of the markets are manipulated by big corporations. You may become a victim and your money - their food!

3. Emotions and revenge trading!

This is the last stage of doom! When you have lost 75% of your money and you are ready to use the last remaining 25% to make up the lost 75%. It does not work! The best thing to do when you have lost 75% of your money is to stop and get out or buy the stocks and hold. But, you would not do it because you think you are a (PRO) trader.

This is what happened with me. This may not happen to you. If you can relate to this then, please get out, sit back and think again. Talk to others.

Reach me if you need my help or advice https://twitter.com/ashikvittal

Thank you!