Lessons Learned from Losing $1,500 in Futures Trading in One Day
Today, I faced a significant setback, losing approximately $1,500 in my futures trading wallet. While itās undeniably a tough pill to swallow, Iāve chosen to view this loss as an expensive but invaluable lesson. Instead of fixating on the loss, Iām focusing on the insights gained from this experience, which feel more valuable than any paid course could offer.
1. Avoid Letting Greed Take Over
Itās easy to overlook this advice, but greed has a way of clouding judgment and pushing traders into impulsive decisions. I thought I had mastered self-control, but this loss proved otherwise. Greed isnāt just an emotionāitās a destructive force that blinds you to rational strategies.
2. Money Isnāt Everything
Weāve all heard the saying, but losing a substantial sum brings it into sharp focus. Money can always be earned back, but your health, relationships, and peace of mind are priceless. This loss reminded me to prioritize what truly matters over financial gain.
3. Focus on Reliable Assets
Chasing altcoins and speculative trades felt exciting, but it cost me dearly. If I had stuck with more stable options like Bitcoin, Iād likely have seen far better results. Stability and consistency often outperform risky experiments, especially in the long run.
4. Markets Are Unpredictable
Believing I could āoutsmartā the market was a mistake. Even the most experienced traders donāt predict the future; they rely on probabilities and manage risks accordingly. This loss reminded me that no strategy guarantees success, and humility is key in trading.
5. Build Real Value Instead of Obsessing Over Charts
The hours I spent glued to charts were no better than mindlessly scrolling social media or binge-watching TV shows. Instead, I could have invested that time in productive activities, like growing my business or developing new skills. Trading should complement your life, not consume it.
Final Reflection
This experience has been costly, but the lessons are invaluable. Iāve learned that money should work for youānot the other way around. Moving forward, I aim to make smarter, well-thought-out decisions and shift my focus to long-term growth. Losses are part of the journey, but they pave the way for wiser strategies and better outcomes.
Aggressive Strategy: If you are a risk-taker, buying near the current price of 0.00000968, considering it is close to support and oversold on the RSI, could be an option. However, there's a chance of further downside before the reversal.Conservative Strategy: Wait for confirmation of reversalāsuch as RSI crossing back over 30, price moving above the short EMA (7), or a bullish MACD crossoverābefore buying in.
Based on the chart, your optimal entry (buy) point would be around 0.00001020 - 0.00001038. This is a level near the EMA(25) and potential retracement zone. If the price pulls back to this level, it's a safer entry, as you're buying at a point where support might prevent further drops. #pepe
PEPE is in a downtrend but forming a bullish falling wedge, with a potential bottom at 0.00000989. The current price around 0.000015 is a good entry for spot trading, but caution is needed near 0.000011 due to selling pressure. For futures, consider a long entry at 0.00000989, targeting 0.000011 with a 2% stop-loss. Protect your capital and avoid catching falling candles.
The price is trading below all key EMAs (7, 25, 99), which is a clear sign of a short-term downtrend.The MACD is still negative, and there's no bullish crossover yet, indicating that momentum is still weak.The price has recently made lower highs, signaling continued selling pressure.
Set your limit buy order around 0.00001000 - 0.00001005. This area is near the recent low, which could act as a support level. You're buying in expectation of a potential bounce
A good strategy would be to wait for the price to show signs of recovery by crossing above the short-term EMA (7) or seeing positive movement in MACD. This would confirm a potential trend reversal. #pepe
The EMA (7) is at 0.00001023, while the EMA (25) and EMA (99) are higher at 0.00001031 and 0.00001037, respectively. The price is trading below all three EMAs, indicating short-term bearishness.
The indicators suggest a neutral to slightly bullish sentiment. Since the price is currently above the short-term EMAs and the RSI is neutral, it may suggest a cautious buy. However, it would be advisable to wait for more clear signals, such as a bullish crossover on the MACD or a stronger upward movement of the price above the EMAs, before making a more confident buy decision.
Make sure to monitor closely for any sudden changes in trend or volume, which might affect the decision
The PEPE/USDT 15-min chart shows slight bullish signs, but no strong buy signal yet. Wait for clearer upward moves, like EMA crossovers or stronger MACD momentum, before considering a buy.
The chart shows TON/USDT trading at 5.238 USDT. Key support levels are at 5.020 and 4.511 USDT. Resistance levels are visible at 6.067, 6.351, 6.476, 6.844, 7.507, and 8.068 USDT. The price is currently near a support zone, indicating possible consolidation or a bounce. Monitor for any break below support or above resistance for further direction.
The chart shows JTO/USDT consolidating near 1.941 USDT, forming a symmetrical triangle. Key support is at 1.381 USDT, with resistances at 2.691, 3.896, and 4.419 USDT. The pattern suggests a potential breakout soon, so watch for movement around these levels.
According to Odaily, the cryptocurrency TURBO saw a notable surge this morning, briefly exceeding 0.009 USDT. Currently, TURBO is trading at 0.0088573 USDT, reflecting a 24.03% increase in the last 24 hours.
BTC is anticipated to undergo a pullback on the 1H time frame. However, there's no need for concern, as this pullback is expected to be brief and not too significant. Based on technical analysis and liquidation insights, we project a price pullback to the range of $61,900 to $62,200.
Following this pullback, we should see a price increase, potentially reaching $63,800 and $64,400. If you're looking to buy, consider entering around $62,000 with 10% of your portfolio, and set your take-profit targets at $63,800 and $64,400.
Today, some consolidation is likely due to low weekend trading volume, but we can expect a bullish trend to emerge starting tomorrow, aiming for the targets mentioned above.
Ferrari Expands Cryptocurrency Payment System to Europe
Ferrari is expanding its cryptocurrency payment system to Europe by the end of July, following its successful launch in the US in October 2023. The new system will allow European dealers to accept crypto payments, which will be instantly converted into traditional currency to avoid handling digital assets directly. This initiative aims to attract younger investors and expand Ferrari's customer base. The company is working with crypto payment providers to ensure secure transactions and verify fund sources. Ferrari has not yet announced which cryptocurrencies will be supported in Europe.
According to BlockBeats, on July 28, Andrei Grachev, a partner at DWF Labs, announced via a tweet that the company is currently in discussions with one of the largest payment systems in Central Asia. Grachev emphasized that one of the key pillars of DWF Labs' development strategy is the acquisition of infrastructure. This approach aims to provide compliant, cost-effective, and efficient fiat-to-cryptocurrency trading services in emerging markets.
Many people misunderstand how leverage works in trading. For example, using 100x leverage means you can control a large position with a small amount of money. If you have $100 and use 100x leverage, you control $10,000 worth of assets, with the exchange lending you $9,900. A small market move can wipe out your $100 margin if youāre not careful.
Influencers often show high returns from trades to attract attention, but these can be misleading. They might use small positions or high leverage to make their results look impressive while minimizing their own risk. Always be cautious and understand that high leverage can lead to big losses as well as big gains.