Bitcoin Forum

Hi just got in this world.

I made some money here and there mainly by selling stuff and what not. Grinding, playin some micro stakes poker (i dont like higher stakes then that, to serious and to many aholes that are purely there for money and not the game, but hey mayb ill get over that someday, its also the "lying" part of the game that i cant get really in tune with it seems at higher stakes. Side note :) )

Anyway. When i saw the oppurtunity of Binance, i was like hell yeah! Lets do this! Guaranteed winner! Dump that money on there! And... dumpin it was to this point. I bought in HIGH! 2.71 to be precise. FOMO for real.

As i see coins rising and missing out on them i start to become crazy. It drives me nuts. Here i am, wanted to take a chance. Now im stuck with an investment that so far only loses money.

I bought some more bitcoin to invest.

LISK everybody. Seems good. Seems nice project. Bought 168 of m at a price of 2.91.

Then i bought some ripple when it was going up and down. I made $60 on the first high. Selling when it was goin down. Then it had another low. I was like, its not getting any lower before it rises again. Well, wrong as most know... Break even. While bagholding 900 of m at this point. But im not worried bout them. Neither am i about BNB really, but... FUD bigtime nevertheless.

Then... i see Lisk starts dropping. From 4.15 to 3.60. Im not worried. I believe in the project. Then i start reading some more. I read, "there are much better projects then Lisk". Its doing the same as Waves but worse... bla bla bla.

Also, pump and dump spooks trough my head. Is this another one?.... could be... dont know.... i read some more: Lisk is a shitcoin, someone wrote.

I strat thinking...

it will so the same as ripple, it will drop and never go up again. Even more so, it will start dropping even more untill... its dead. Because "its a shitcoin"

That does it, im convinced! While my initial intention was to hold longtime. But together with all this and bnb price dropping hard i decided to sell to get at least a profit "cause its gonna drop anyway" its a "shitcoin" take that profit now while u can  says my FUD voice.. it will take some strain of that BNB investment  SOLD! for around $150 "profit"

Ooh what are they today?

Here i am. Seeing all these oppurtunities, yet im stuck in the hole.  :( I feel like an idiot. And i cant stand this, if only this, if only that. I hate myself feelings start to take a hold of me.

BUT... this is just a share. I know i will be fine. Its not money i cant afford. But... someone dropping a comment "Lisk is a shitcoin" did it for me. And im pretty sure it was because he wanted his prices to go up instead. And for me that is against my nature. Its my fault i let myself influenced by that, but looking back at it i think that was exactly the intention. So as i see... while loving crypto, i also see that there are also many  people here that DONT GIVE a FUCK about crypto, they are only in it for the money. Thats ok. I am very positive and what not, and it seems that is the overall tendency. But that doesnt mean u dont have to arm urself against negative people. Which is what im gonna do. I was very enthousiastic, but because of these negative people once again i cannot fully express that because i have to protect myself against them One day...
 

in retrospect... i actually thought daytrading would be a little fun. I think thats the main reason i got out! But again, just sharing.
I think in an open market like this daytrading isnt smart at all.

Daytrading is for when the market is  saturated i believe.

I'll give you an advice because I've been in your shoes not once but twice. If you're investing in long term, then don't read those forums just open your preferred exchanges and look at the prices, if you're aware that a dump is going to be executed soon then dump your coins other than that HOLD. I mean it HOLD.

This is so true. Those damn Facebook groups. They're calling certain coins "dead" just because the price crashed or hasn't moved in a month. So infuriating. I've read alot of posts about Sia being dead.

Anyway, hey. Keep your head up. You've lost money, but you're lucky enough to lose money early into your journey, rather than losing after months into your investing journey, as you'd lose most likely alot more money. Atleast you know better now! Just remember not to just get swayed too quickly by some Reddit post. Always remember that there are always gonna be shillers, some wanting to crash the price and some wanting to get more people to invest so the price rises. Remember, you're investing. Not daytrading. Dips shouldn't affect you much if you look at the big picture.

Nice share experience of day trading strategy, you are right strategy of day trading doesn't mean will be suitable for all of traders because however we must check our positions of trading on the exchangers if we use day trading and it will takes our time every days to do it, it will not be good for the people who doesn't have much time, so actually there are no best or bad strategy of trading everything depend on the style of trading from all of peoples.

What I am doing now is trade my BTC with the current pumping coins. Now the current pumping ones are XMR , DASH and LSK (you mentioned it as shitcoin). I just ride my BTC there and waiting for the next moon. Rinse and repeat.

I think day trading is kinda fun when you already knew when or what price would you ride, and as you have said rinse and repeat. Before though I am also a day trader, or some may say it as a swing trader, or some would prefer to say its just hit and run style, but for me, I am aiming for profits, this sounds funny because its like a game, but lesser risk than gambling and still too risky.

I would rather do on making short or active trades than on playing gambling because on trading you can somehow assume that you can able to make money on the thing you are doing. Active trades is somehow risky compared on holding but you would really enjoy it for sure if you know already the fundamentals and basics on doing it but it wont really be an easy thing to be learned because it would takes time for you to learn those things.

Are you crazy? Seriously you are trading your bitcoins for these kiddo coins. These coins no matter how hard pump, they can’t produce profits like bitcoins. You should consider yourself lucky if you are holding bitcoins because many are working hard to won biotins. Bitcoins are not meant to be traded for these little altcoins.
 

It just goes to show that you shouldn't blindly follow people just because they say something. How do you know if they weren't even credible at all? Even if they were, why did you buy in the first place? If it's a good project it'll catch on. If it's not it's fairly obvious.

Most cryptocoins need patience to take profit so daytrading on cryptocurrencies is not a good idea for my opinion. Just take time and study on coimarketcap. Grab a few currencies and have a look what they did over a year. Most went up and multiplied their worth.

Tx guys.

Yes, that was my plan anyway, but its fun  :D Soon i will make a pick and just leave m there. Weather they go down or up.

Bro hold your coins if you think it has great plans. Dont just panic sell
Here are some good investments: Ark, Waves, Mothership, Civic, Neo (maybe)

Yes, saw ark as well. Wanted to. Gonna do. Others im not to sure about. Indeed neo.... PERHAPS!

Civic, yes.

I invested some in piecoin. Is goin up slightly. I saw it was getting interest on youtube. Who knows its gonna be used as a social coin. U can send that coin between friends and such.  Sounds like a great idea. Yes i bought into it for $60, but i really mean it. I dont like shilling really. Its in between 3-4 cents now. And was 0.027 couple days ago. Probably cause of the news they had. But perhaps a sleeping coin?

Anyway, im invested in bitconnect as well now for a couple hundred.... whats it gonna be? Pretty risky, but not to sure whether scam or not. I dont feel it, since Satish is know. His ass would be ff'd..

Then i rebought 55 Lisk at around $6 on average.

Hello in 2015 i bought 1300 DarkCoin now it rename like Dash for 0.8$ each after sometime i sell it for 3$ each . in the beggin my plan was to hold for years but after some time i see the price increased and after start to decrease the panic take me and i sell everything :( now look at the price of dash do you know how i fell ? not good , but we still here and have good chance to make good profit in some years if you take the right coins
if you want look at ARK WAVES LISK and the deeponion in 1-2 years can hit easy 30+ $
verge also very good project can increase after some time to 0.1$ or even 0.2$
https://coinmarketcap.com/currencies/verge/
https://coinmarketcap.com/currencies/zencash/
https://coinmarketcap.com/currencies/deeponion/
https://coinmarketcap.com/currencies/pivx/

Well, as long as bitcoin still rising guys  ::)

TX for SHAring! U must hate it when u sometimes calculate back how much u could v had! But we must look forward. One thing to adress to urself: Do you believe (which does mean ur not sure, knowing is, granted, thus when u see goin it down ur believe starts to get crushed into fear) in the coin? Does it has substantial quality and competent team behind it? I think these are main indicators together with the graph.
If thats the case, buy and hold no matter what! Ur gambling on it basicly. So if it goes to 0, u just say TOO BAD! NEXT! Thus, better not to put all egs in one basket. And then dont look, ooh what if i invested everything in THAT one! No, thats not what u do. WHAT IF U have had invested everything in a  loser?? Spreading in these times is actually alomst a guaranteed winner.. I mean what will that portion be worth in 2 years????
I just read that guy became multimillionaire by just letting sit 5700 Monero?? or NEo it was, dont remember, for a couple years.
What if Bitcoin will be worth 20.000 What u think the other coins are gonna be worth potentially? THE SAME VALUE BITCOIN has today!


 

The more we share these kinda things the better we can shake it of and become stronger. :) Because its just (very) hard sometimes. This game aint for pussies. We wander in the future allready. Thats not easy... and can take quite a toll. We are litterally the stronghold in the future of crypto currency compared to the mass who doesnt!

In trading (they call it day trading here), there is always that possibility that we get trapped...meaning that the value of the coin currently is lower when we got them hence to liquidate the coin we have to accept some loss. It happened to me before and that is why I temporarily stopped doing it in Bittrex as I need to gather more ideas from well-known traders before making any moves again.

the most important thing in trading is that you have to have a reserve fund to handle the losses you experience when the price of a coin falls.
Remembered my friend said "do not put all your money to invest in altcoin and bitcoin".

Your story sounds familiar, I guess many of us went through this. As times goes by, you will be able to control your emotion in trading and won’t let your emotion take over you. Good luck.

Yes! I agree with you...
Trading cannot be considered as a regular source of Income instead we can use certain percentage of our other sources income on trading to gain some profits.

To OP:
I think its not the problem with you, most of us here also experience similar. Like in my case I sold my NEO(ANS before) when it $10 but now it is one of the best performing coins out there.

Still difficult to control emotions, sometimes when I emotions not the profit that I get but the loss, but still I will slalu learn from the experience that I have passed before.

The hardest thing is to control the emotions, it's easy to enter with an interesting mentality to make money, because it is so. However, trading should be seen with cold eyes and counting. Do not let the ups get you excited, or down make you depressed. People with a loser mentality trade with emotions. When the coins fall, start buying slowly.

Emotions would really be a big thing specially on trading and it would really mainly affect you on any decisions that you would made on a particular decision regarding on your trade positions.It will really stress you out when you see negatives on your portfolio and would hype you up when you do see gains this is why we should really know how to control it and think wise in able to sustain your trading habit.

You are acting like kiddo here. What's wrong with the trading of altcoins? That is the only thing which will make your bitcoin multiply if traded with proper cautions. The list which he made is completely all right, XMR, DASH, LISK all are best to trade in the current market. Just few weeks ago xmr pumped all the way upto %50 more than the initial investment. Any altcoin can be beneficial at any time, people have gotten huge pumps and worked their way through big profits.

I agree with you, because surely a lot of people who do trading here just jump directly into the world of trading, and it will make us easy to panic. But with some experience and maybe some failures then we will be able to control our emotions and not easily panic

Mistakes do normally happen specially when we are just doing trading for the first time. Newbie do easily panic which would normally the cause of losing money on trading.Its not really good to decide to jump into trading without any proper knowledge because we will definitely lose money but it would be somehow better because if we dont try we wont really learn nothing.

Tx again guys.

Ive been and am in chess. Winning in poker and good chess player (for amateur) so yes i experienced some panic, but as someone else also mentioned more adrenaline and fear of losing (which isnt panic i think)
Now im like, its gonna be ok cause of previous background i can deal pretty fast pretty good with it i think. At least thats how it goes now so. 

I think the best solution would be:
1. To quit all groups related to trading except one(just to stay sharp) and join Devs group instead.
2. Study our market with devs
3. Keep in mind that: we need to respect and love our crypto currencies. We're here not just for money!

I'm also been there many times in the past. But as I evolved, a realized that day trader it not that simple. So I totally quit sold all my coins and just concentrate on a couple which I hold now for longer time. Difference is, eventhough I open forums, read articles or saw FUD coming from afar. I'm somewhat 'immune' to them. In fact, I just laugh when I read a lot of them in the forum. I guess I made the right moved then to dump those coins and concentrate for just a couple of them. So I'm a holder now, but not a bag holder because I can't really afford to buy. I just try to get just what my money can afford and just hold on it. And besides, I have a offline business that I managed so I don't have enough time to really check the price and do trading as well.

To OP, I just do hope that you remain positive and that you learn from your lessons. Its a long journey so just take it easy and use your better judgement what coins to gonna invest. Losing is just part of the game, its just how to cope with that, everybody don't like to lose, but its how you recover from it. Goodluck.

The story sound familiar to me, and I think you need to learn how to trade first and especially the chapter called "risk management". When you start to build a portfolio correctly, the chance of getting stuck in one place will be reduced.

I still think you made the right decision.  The worst part of it is that it really drops and there'd be zero profit for you and more losses.  Nobody could really predict this coins behavior so a profit made by buying low and selling high for me is still a win. 

in trading, our minds will be chaotic due to price pressures.

my advice:
- don't use your main funds for trading.
- keep control of yourself when buying, and do not buy when the price has gone up 100% + (in a few days)

Appreciate the replies, people.


yes. And yesterday i got stuck in greed again. EMBERCOIN. I was like, this isnt gonna work. And now im stuck with a couple million useless coins!
PANIC! Omg, omg. WTF have i done now again! I cant believe myself. Wtf am i doing.

Then this morning i finally realised. Greed is the absolute worst advisor. Even if u succeed, it wont satisfy a GOD DAMN THING. Nothing will change when u have a lot of money that listened to the voice of greed. NOTHING, in fact things will turn for the worse. Greed i believe is formed by being denied expressing desires and passions when little. Restricted by parents. We think, or some, that money can set us free. This is not the case. We have to free ourselves from greed, that is when we are free and have oppurtunties to make money without overvalueing it.

I sold that embercoin for around $100 loss. Which i think is a cheap lesson. Once again youtube pushers do this. U get paid in coins with socalled staking! Its a worthless piece of shit coin i realised. BUT THE only thing why i bought, first act think later cause money. Orang oetang monkey style. Im done with greed! I still want to make money, but sensible and in a nice way. I miss out on something? SO WHAT!! It wasnt meant to be! And thats that. And with that attitude i think u can pick ur picks that are, in a way, meant for u! U cannot get all all all all, me me me me me. Youtubers show loads of money, me to me to me to want that. Why not me, whyyy. Some of these youtubers have no ethics. Ethics are more worth then money... thats why im gonna by myself some ether today.  :D :D

i think so to...

As i wrote in PM you need to be patient when you make a choice and wait!

Listen to me:

1) Split you investment betwen a lot of asset  including crypto, stock, bond anc cash
2) For each investment fix an "ending time": a date (1 day, 1 month, 1 year, etc) when you think so sell
3) For each investment fix a stop loss

Keep kalm and good luck

Face it as an expensive lesson, don't ever forget it.

Here are some rules you always gave to follow:

Never chase a pump.
Never buy a top.
Buy the bottom.
No fear.
No regret.

When I was new to trading I were on your shoes, but in time you will learn. Experience is the best teacher.

here are some things that i have learned. Always have a trading plan; are you investing in long term, day trading, scalping. if you are in long term do not sit in front of your computer and pressing the refresh button every 5 minutes  it will just mess with your emotion. Have a target price for gain and loss. Do not buy on the peak (i know it is hard to do when we really do not know where would be the peak). Buy on pull backs since we are still bullish most likely the price will recover in a few days or months. Do not panic sell we will only lose money when you click the sell button. Do not be greedy always follow your target price.

People that you mentioned usually is not a "big" person who can do something different things . They are too busy about thinking how to earn real money in real life to pay for their needs and their debts and don't give a fuck thinking about the future, how to be rich than others else.

i hope you can take this as your lesson in trading and with this experience you can learn from your mistake and you will grow up and doing better in other time. we all have bad experience in trading especially if we are new and we don't have any experience. but trust me, with all bad experience that you've got, you will be stronger than before, you can do better and you can make your own profit. we all here is trying to chance from the bad experience into the good one and if we don't give up, we will meet in the top of success and we can reach our goal.

It's part of trading brother. It happens with the best of us and I have been there too. It was during the beginning days of my trading when I made many mistakes similar to yours. I bought coins and then FUD made me sell my coins. I was a complete idiot those days thinking that the coin won't recover back but just as i sold the coins the price started to increase. I have quiet a few experiences which made me believe that coins do recover at some point of time and its just a matter of time. The only thing to do until then is HOLD.

Not really. The reason why they're doing this, like spreading fake news about coins being dead, is because they have a lot of money to stack up when the coin dips. Some.of these are probably those we call whales that can manipulate the movement of certain coins

Trading is like planting a tree, you cannot expect a fruit from a newly planted tree. How about investing from a good coin, and get back on it after few months?

I started in Forex (Whaleclub, Simplefx), then I lose a lot of money. Stay away from Margin trading. Start to learn the basic of chart reading, it can help you when to jump in or when to exit.

I have experienced this myself before when I just started out trading and it was crazy and funny at the same time. Since then I stopped trying my luck on this shitty coins. I actually thought I was buying at the dip looking at the previous chart on bittrex and then it keeps going down and I kept buying until I started wondering if it will ever have a chance to come back up. I stopped buying, waited for almost 2 weeks and nothing happened. I was about selling for loss, but luckily for me, I bumped into a telegram channel dropping a signal on that coin and lo and behold, the coin started rising, I watched the market gallantly until I sold the coin at least a bit higher than the price I bought it and then it crashed again after 2 days. ;D Since then, I deleted some altcoins totally from my portfolio.

i dont believe much in altcoins. I do believe in utilitytokens. Which im invested in heavily now. And still in bnb. The way its going now i gan probably even 2x on it within a year.

if you can share your skill mate I'm also willing to learn and earn from your advise, I think its always depend on how far we can go and how much risk
we are willing to take, there's a lots of struggles and downfall but if we are willing to take everything and allow our self to experience that kinds of
situation then we will be able to gain.

Thats the spirit. The idea of this world is to always strive to take positive risk because it is risky not to take a risk itself. For instance, just as op shared his experience, so many users that are looking to invest would learn how to go about it.

Yes, trading as a newbie will set in emotions  I.e fear and panicking  to become a good trader you have to train yourself on psychological aspect of trading, there are a lot of  ebooks and YouTube videos on those aspect.
More so, there are some trading platforms that encourages a newbie to demo-trade I.e using virtual coins to trade until you started making profits consistently thereafter you can invest and always trade with the amount of investment you can afford lose e g 10% of total investment.

One thing i learned. NEVER EVER LISTEN TO MOONTALK. EVER. I just did it again with the waltoncoin. But that was the last time. Only when price is still low perhaps.

Demo trades could really help you out to train yourself which is good but when it comes to psychological aspects demo trading is different on actualt live trading which you can actually tell the difference on the pressure that it gives.This is why emotions is the most common enemy on trading field.If you cant able to control such thing for sure you would really have a hard time to do profitable trades.

Plan the trade and trade the plan, DO NOT PANIC. You have to make a plan and stick to it

But on the cryptocurrency market, we have not much crypto exchange can gives us this function. As per my know, I only know HitBTC exchange can support demo trade, other large exchanges as Poloniex or Bittrex do not support it. :)

Doing panic is the biggest enemy and most time the reason for loosing money. I am doing the same mostly but it has to change! Good luck on your journey in crypto world dude :)

For every one of those success stories you can read on this board, there are 100 of untold stories that have ended the opposite way.
With people going bankrupt, having huge trading losses etc. People rather tell their success stories.

My point is, many people are experiencing what you have, or have gone through it in the past.

You do the right thing, I think it's important to do stop loss. stop at a large loss percentage. 10% loss then buy back at a low price. that's another strategy that most traders use.

Market is people that's why trading psychology is important and if you are going to be affected by all the FUDs and hypes and have a herd mentality then maybe you will end up on a greater loss. What we can do to reduce our risks is to have a trading plan. ALWAYS. Before putting a position, make sure that you already have a plan of what price to take profit and where to put stop loss because the moment we put the order in the market, it is not in our hands anymore, it is up to the market what price it will hit first and for us traders, we should make sure to always have a plan wherever the price will go.

The day something like this happened to me after selling a coin for a loss and it then starts rising was the day that I told myself I will hold a coin I have in my possession no matter how long until I get my profit back and that is why I stopped buying in too much on a coin that is just a usually pumped coin and it is good for only that.

As long as there is no negative news surrounding the coin that will make it dead in no time, I see no reason why I should not hold a coin for long until it gets pumped again and another user takes the bait. ;D

Nearly all those here started back in 2009 or 2010 and didn't show up late to the party, so that means that most of us on here had and either sold, spent, burnt, whatever, a good number of coins when the price was low, $60 or less. No one here, except for those new guys that never read the internet, is unfamiliar with early price coin issues and mistakes of that nature.

I'm sure that many of the users have pulled their hair out because of the fact that they once sold Bitcoin at a cheap price, especially when they see today's high and the prices for Bitcoin. Some of us could become a millionaire today, but we found it necessary to sell our coins several years ago.

I can't forget my story in bitcoining,l almost give up when l did not get my salary 5x but my daughter incourage me to continue she said l can get some other big payments in other campaigns.l can't get over that time because l spend my time and effort to answer but I don't have pay.But lm okay right now lm still hoping at bitcoin that will give me hope to be rich.

Correct, but some holders are still holding because they trust the idea of blockchain. As log they hold, they keep making new ATH values for their holdings. For me, I already sold too much in early days with cheap prices unfortunately.

He is 100% right take a gander at his announcement. I might want to state that im with in that part since he is 100% certain that why he has specified that if the benefit come to zero then it would be goes to misfortune while in bitcoin there is nothing about lose. Bitcoin is offering chance to individuals not something unique so I might want to state that you are correct brother.

I held all the BNB tokens during this period... and its reaching my buy price again. And if it does it will go over it as well.  :) I could v made a lot more but on the other hand im in good profit now with other investments. So in the end lessons are the most valuable as i created much stronger character during all the down times. Now, all my gains are bonus. My mindset is set in expecting losses now or seeing oppurtunity i can lose as well instead of only gain and im much more critical and experienced in my view on crypto.

The other holdings i have were before this liftoff...