Bitcoin Forum

This is my story in cryptoworld. I think It may help newbies like me! I wont give any coin names, it may be anycoin in the market. Just wanted to share my experience, and I think It may be useful for everyone like me who entered this wild world lately. For those who does not want to read them all, just read the lessons, wish It helps someone out there. I'm sure there are a lot of like me out there, this is our story indeed!

I started investing in Altcoins in 06.2017. I was looking at the green coins in the market, one of them was burning, I thought that was the coin I was looking for. Then bought it with my %50 of BTC and go to sleep.  I was expecting to woke up a richer and wealthy day! BAM! %50 loss in the first day!

         1 - Lesson one: Do not buy a coin from the highest point of that candlestick

Then I thougt It was an oppurtunity for me to buy more coins from that burning one! The coin of the future! All-in to the same coin second day! The next day another %50 fall!

         2 - Lesson two: Do not All-in to one coin!

Then panic started. I dont know what to do, I already lost %75 of my money. Then I sold all of them and back to BTC! After two month the coin I bought was much valuble then I bought it in the first day!

         3 - Lesson three: If you really trust in the project, just give it a chance! (Learned this more later)

I started to dig more into Bitcointalk and learned how to invest, started to do some graphic readings and today I already tripled my enterance point.

Oh before the last and the best lesson:
         4- Never jump into pump and dump events like some phenomenon does. I once lost %50 just in seconds.

Actually yes, as a newbie i need help others because i believe that no one is an island, so newbies and other member of this oppurtunity are experiencing help

Me too, the lesson one really a big lesson to me.. for me as a beginner a lot of losses i made.. ;D but then i start reading and gather for more learnings.. and a little bit, i gain some... As for now still looking for more learnings and more advice from the expert... :D

You're spot on with the lessons you learned. I am sorry that you had to learn the hard way.

As you've realized, education is key. To those who don't know better yet: Greed, not knowing better and fear can be a rather deadly combination. It is better to take the time to learn from the various resources available online than to jump in half-cocked and suffer big losses.

Yes theres no such thing as 100% win..you have to take risk

My recommendations:

Don't FOMO
Don't panic sell
Don't allocate most of your investment in short-term trading (should allocate most of them for long-term investments).
Don't trading mainly based on news (this one is very valuable lesson, so you should experience more to comprehend this one).
Don't join trading signal groups.

Sometimes you need to experience it yourself to take in the lesson and learn from it. Some people ask advice from others but do not take it seriously because they didn't experience it themselves but once they have first hand experience then that's the time they will realize the importance of the advice. Good for you OP you already learn your lesson earlier because others who are "lucky" being able to ride the coin and sold higher are maybe thinking that trading is just easy. We can see others posting that they profit tenfold from a coin so many newbies would just immediately join the battle without bringing any weapon and it end up being killed.

Failure is a better teacher than success do so this advice of you OP would be good for others who are yet to begin crypto trading. I have experience these mistakes myself so I can relate to you but now, I learned my lesson and know the importance of having a trading plan and not being emotional and greedy when trading. Plan your trade and trade your plan.

This isn't necessarily bad, it completely depends on the situation.
e.g. It's mid December, and you bought BTC at somewhere near it's peak (16k-19k); it's fine in my opinion if you're just planning on holding on to it for decades and if you think bitcoin will rise above it in the future anyway.

Still a great tip though, but geared towards more of short-mid term investors.

Good for Hollywood story. :) Thank you, it was interesting. Lesson number 5 (actually number 1) , read and learn, before investing.

It's really a quality post can help many people don't lose money in this market. Many thanks

"Greed, not knowing better and fear can be a rather deadly combination" perfectly told!

This part can be a introduction part of a book! Well said! Thank you

Isn't it better if you bought some BTC on 8k ? So I'll stick to my learned lessons, I may buy BTC anytime, but never on the highest point! Never buy with full of my usd savings, need to save some to buy later on. I buy gradually, I sell gradually.

yes..i think quote are the best lesson for all..even to outside of crypto world.

the pump and dump lesson was one I learned the hard way as well. never participating in those again  >:(