Yup.. Trading with leverage is very risky. Especially if I do it on altcoins, I'm not exaggerating but that's the reality, this is also based on my experience like yours too. Even though Bitcoin experiences an increase in price, not all altcoins will experience the same thing, there are alts that rise, there are alts that go sideways and there are also alts that experience a decline in price. There are several factors that cause things like this, especially when it comes to altcoins. Projects and their progress can influence prices, not to mention if Bitcoin dominance is very high, a pump and dump in Bitcoin can shake Altcoins even more severely. My advice is the same as yours, it's safer to switch Bitcoin and just buy and hold. It is better and safer than trading with leverage. Don't forget to eliminate stress, throw away thoughts of revenge so that your mental health returns and your emotions don't control your trading or investment behavior.

First of all, what the hell! Stop loss should be use to limit losses and not use to stop when the funds is almost depleted to zero. He should take a brake and learn more about trading fundamentals before he start trading again.

I’m not sure his goal on this kind of stop loss that stops near almost liquidation price but he should learn how to hedge risk by setting it by percentage loss and not by feeling. I wouldn’t recommend to start again before taking a deep understanding on trading because he will suffer the same if he will use stop loss like this.

Stop loss is crucial on crypto trading because the market is volatile which is brutal.
 When you have a position with tight liquidity margin. Your friend should learn how to setup stop loss and use a proper leverage to not suffer this kind of losses in the future.

If you are having $150 to invest, first work on increasing the capital. You should do freelance work or find higher salary jobs to increase your revenue. Then, work with larger capital and then time given in all this investment will be worth it.

Not sure how long your friend is trading though, maybe he doesn't have that experienced, or maybe he is just unlucky on what altcoins he is trading. Maybe he should stick to Bitcoin though as we all know that altcoins is more volatile so it's hard to make money out of it as in just matter of hours, it could flip.


Yeah, just stick to couple of them and see how it goes. Bitcoin could be a good practice for him specially if he is a beginner in trading. And just like what I said previously, trading is not for everyone. It might take years for others to make great money as it will take a lot of time in your part to learn this craft. So he might reset everything and see where his mistakes.

I think $150 is already huge to start trading as your capital, It is also good to start with that amount of money so you can gather experiences as well, cause imagine this you can't even make profits from your $150 so what would happen if you are trading with larger amounts right. It's not only about the capital as well, these days you could already call anyone who's investing in this industry short-term as a trader, but without sufficient knowledge and skills, it would be just a waste of money. But you are right, it's much better if you have extra funds when you are trading so if you learn from a current mistake, you can make a comeback. If you already know that you can't really profit from short-term investment or trading, just go to long-term and you can start with the DCA method.

Generally, we know trading is really risky, and the chances of you losing money is kind of high. From your post, I can say your friend is not yet a professional trader. The first mistake that your friend makes is trading futures. I do say that future trading is not for beginners, if you are still learning how to trade, then just focus on spot trading and avoid future trading. We all know that sport trading is less risky than future trading, so it's better to trade on spot than trading futures. Your friend shouldn't have chosen altcoins, since he is trading futures, he can still do his analysis, and either long bitcoin or short bitcoin will have been better than altcoins, but generally, I don't support future trading.

If your friend didn't stop trading at the moment, I am sure your friend is going to lose the remaining $12 that is left, and after losing the $12, your friend is likely going to deposit more money, which he might end up losing everything again. Future trading is kind of addictive, it once happened to me. I was addicted to future trading, which i wasted a lot of money. I had to force myself to stop future trading. When you lose, you will want to keep on trading, trying to win back your loss. You will start increasing your leverage and the amount you are trading with just because you want to win back your loss.

It's better your friend stop playing with altcoins and also stop playing with future trading. Those two things that I mentioned can easily wreck your friend, so it's better to avoid them and take a rest from trading for now. He should at least acquire more knowledge about trading.

Taking a break to focus on Bitcoin trading is almost the same bullshit as taking a break to continue altcoin trading. Anyway, I find the story heartwarming:


And with all the experience your friend has, it turns out that he plays with a capital of:


That's a big lol and a half right there.

 

Better off trading bitcoin because there's a guarantee that you're not going to lose money in the long-term comparing that to altcoins where you don't know whether the developers are going to go with their promises and that they won't do a rugpull on their new altcoin which happens most of the time with these people who just want to make a quick buck and not really invest in the project or deliver the promises they've given in day 1. If you can, try to avoid altcoins or if you can't avoid altogether then make sure that the people in the project of the altcoin have the proper credentials or even be able to do what they say they can do.

I wanna know that, what do you mean by play with Bitcoin it will be the best. I want to say that  every investment has risk  but Bitcoin is the most secure and trustable coin  for investment,  but it has still remain the volatilities.  So if anyone want to  play with it I mean that anyone wanna do short-term trading with just basic knowledge then they also have to face the risk and losses even then investing in Bitcoin.

For those people who have little knowledge about trading like technical analysis then they should invest for the long term in Bitcoin. I also want to say that there will no risk,  but here the risk will be much lower than the short-term. So my suggestion will be for your friend first he should know the trading analysis and risk management then he can invest on Bitcoin for long-term with his lazy fund. But always should keep in mind that always invest as much as he can afford to lose. So suggest him, take a long term strategy with a proper DCA mangement/