My journey in cryptocurrency trading has been filled with lessons, challenges, and valuable insights. I didn’t start my trading journey under the guidance of any influencer or professional. Instead, I relied on advice from friends. However, none of them provided comprehensive guidance, leaving me to learn much of it on my own.
In early 2023, I began exploring Binance and other trading apps. While Binance proved to be user-friendly, many other platforms lured users to deposit money without requiring verification. However, when it came time to withdraw earnings, these apps would impose absurd verification requirements, revealing their fraudulent nature.
The Learning Curve
As I navigated the process of investing and learning, I encountered significant losses, even on Binance. Despite the setbacks, I discovered my knack for predicting coin trends, identifying when prices would rise or fall. Hoping to improve my trading skills, I even posted online, asking for guidance on applying parameters to futures trading. Sadly, no one responded.
With determination and by the grace of Allah, I finally understood how to apply futures trading parameters. This breakthrough came last week, and it brought me immense happiness.
Sharing Knowledge and Facing Challenges
Through my posts and articles, I’ve shared my learnings, gaining both popularity and personal insights. Here are some crucial lessons I’ve learned:
1. Never Share Your Earnings Without a Watermark
Sharing screenshots of your earnings without a watermark can lead to scammers stealing and misusing your images. I learned this lesson the hard way when scammers used my shared earnings pictures. Just three days ago, I became a victim of such an incident.
2. Beware of "VIP Signal" Scammers
One of my mistakes was trusting someone who posted about their "VIP signals." After seeing his earnings, I appreciated his post, and he offered me access to his so-called VIP signals. Out of respect and my habit of trusting others, I believed him.
I followed his advice and placed significant bids on coins he recommended, only to face liquidation. Despite my losses, he kept insisting the coins would recover. When I ignored his advice and stopped a trade, he pressured me to bid again. Unfortunately, I trusted him a second time and suffered another substantial loss.
His behavior and insistence made me realize he wasn’t trustworthy. His voice notes and poor communication revealed his lack of credibility. Eventually, I blocked him, but the damage was done.
Key Takeaways
1. Avoid Trading After a Loss
If you experience a loss, take a break. Trading while frustrated or desperate to recover your losses can lead to even bigger mistakes.
2. Identify Scammers on Binance Posts
Be cautious of individuals promoting "VIP signals" or guarantees of success. Scammers often use fake IDs linked to phone numbers to lure victims.
3. Protect Your Information
Always watermark your shared trading pictures to prevent them from being copied and misused by scammers.
This journey has been a tough but valuable teacher. Stay tuned for my next post, where I’ll share two more critical lessons to help you avoid similar pitfalls.