u/Serious_Parfait760

I am 18 years old, and I traded on Binance for the first time using my own money. I practiced for more than 2 weeks. I invested $100 and ended up losing it all.

I watched a video on YouTube about scalping during the New York session. I practiced it a few times on a demo account, and it worked. So I decided to use my $100 and tried it on Ethereum using the Exness app.

I placed a sell trade around 2057 (approximately), and the stop-out level was around 2068. I didn’t set a stop-loss; I only set a take-profit of $40 near 2052.

But then the price suddenly started going up and kept rising. It went up to around 2080. I lost my entire capital. That was my only money. What should I do now?

𝐌𝐲 𝐪𝐮𝐞𝐬𝐭𝐢𝐨𝐧𝐬 𝐚𝐫𝐞:

1.𝐃𝐨𝐞𝐬 𝐬𝐜𝐚𝐥𝐩𝐢𝐧𝐠 𝐫𝐞𝐚𝐥𝐥𝐲 𝐰𝐨𝐫𝐤 𝐨𝐫 𝐧𝐨𝐭?

2.𝐈𝐟 𝐲𝐞𝐬, 𝐡𝐨𝐰 𝐜𝐚𝐧 𝐈 𝐝𝐨 𝐢𝐭 𝐩𝐫𝐨𝐩𝐞𝐫𝐥𝐲? (𝐥𝐞𝐯𝐞𝐫𝐚𝐠𝐞, 𝐬𝐭𝐨𝐩-𝐥𝐨𝐬𝐬, 𝐚𝐧𝐝 𝐭𝐚𝐤𝐞-𝐩𝐫𝐨𝐟𝐢𝐭)

3.𝐈 𝐜𝐚𝐧’𝐭 𝐜𝐡𝐚𝐧𝐠𝐞 𝐥𝐞𝐯𝐞𝐫𝐚𝐠𝐞 𝐨𝐧 𝐄𝐱𝐧𝐞𝐬𝐬—𝐢𝐭’𝐬 𝐟𝐢𝐱𝐞𝐝 𝐚𝐭 𝟒𝟎𝟎𝐱. 𝐒𝐨 𝐈’𝐦 𝐭𝐡𝐢𝐧𝐤𝐢𝐧𝐠 𝐨𝐟 𝐮𝐬𝐢𝐧𝐠 𝐁𝐢𝐧𝐚𝐧𝐜𝐞. 𝐖𝐡𝐚𝐭 𝐝𝐨 𝐲𝐨𝐮 𝐭𝐡𝐢𝐧𝐤 𝐚𝐛𝐨𝐮𝐭 it?

I really need advice.

I am 18 years old, and I traded on Binance for the first time using my own money. I practiced for more than 2 weeks. I invested $100 and ended up losing it all.

I watched a video on YouTube about scalping during the New York session. I practiced it a few times on a demo account, and it worked. So I decided to use my $100 and tried it on Ethereum using the Exness app.

I placed a sell trade around 2057 (approximately), and the stop-out level was around 2068. I didn’t set a stop-loss; I only set a take-profit of $40 near 2052.

But then the price suddenly started going up and kept rising. It went up to around 2080. I lost my entire capital. That was my only money. What should I do now?

𝐌𝐲 𝐪𝐮𝐞𝐬𝐭𝐢𝐨𝐧𝐬 𝐚𝐫𝐞:

1.𝐃𝐨𝐞𝐬 𝐬𝐜𝐚𝐥𝐩𝐢𝐧𝐠 𝐫𝐞𝐚𝐥𝐥𝐲 𝐰𝐨𝐫𝐤 𝐨𝐫 𝐧𝐨𝐭?

2.𝐈𝐟 𝐲𝐞𝐬, 𝐡𝐨𝐰 𝐜𝐚𝐧 𝐈 𝐝𝐨 𝐢𝐭 𝐩𝐫𝐨𝐩𝐞𝐫𝐥𝐲? (𝐥𝐞𝐯𝐞𝐫𝐚𝐠𝐞, 𝐬𝐭𝐨𝐩-𝐥𝐨𝐬𝐬, 𝐚𝐧𝐝 𝐭𝐚𝐤𝐞-𝐩𝐫𝐨𝐟𝐢𝐭)

3.𝐈 𝐜𝐚𝐧’𝐭 𝐜𝐡𝐚𝐧𝐠𝐞 𝐥𝐞𝐯𝐞𝐫𝐚𝐠𝐞 𝐨𝐧 𝐄𝐱𝐧𝐞𝐬𝐬—𝐢𝐭’𝐬 𝐟𝐢𝐱𝐞𝐝 𝐚𝐭 𝟒𝟎𝟎𝐱. 𝐒𝐨 𝐈’𝐦 𝐭𝐡𝐢𝐧𝐤𝐢𝐧𝐠 𝐨𝐟 𝐮𝐬𝐢𝐧𝐠 𝐁𝐢𝐧𝐚𝐧𝐜𝐞. 𝐖𝐡𝐚𝐭 𝐝𝐨 𝐲𝐨𝐮 𝐭𝐡𝐢𝐧𝐤 𝐚𝐛𝐨𝐮𝐭 it?

I really need advice.