Bitcoin Forum

Have you ever bought altcoin but after that the price actually decreased deeply? After many times it becomes bad suggestions for me every time I will buy, any suggestions from you who have traded more experienced than me? What's wrong and needs to be fixed? Thank you

since i have had that problem in the early days of my trading journey i can tell you that the reason for losing money after you buy something is that you are always buying that thing too late. the reason for that can be different. usually it is because when some altcoin is pumped that altcoin will start being advertised a lot and that leads some beginners to believe that altcoin really has some potential so they buy it not knowing they are buying into a bubble and after the pumping phase ended. and surely enough after that phase will cone the next phase called the dumping.

the solution is simply to
... stop listening to the hype
... start looking at the charts
... learn what a pump and dump looks like.

then you just buy before the pump ends and never invest in a coin that you see is being talked about on the internet a lot. for example if you opened bitcointalk and saw 10 topics about an altcoin that weren't there before then you stay away from that altcoin.

thank you for a great advice, any special sign to marked the bubble will end?
any suggestion for me to figure out a good trade knowledge? especially cryptocurrency trading. Thank you

it is impossible to know the end which is why i always set a profit percentage that satisfies me. i varies from coin to coin and it depends on the trend itself. sometimes the pumps are too strong so you can expect even 100% profit from them. but i try to also not get too greedy. reaching a balance is the key.

also after some times trading and watching the market (the charts) you can see some signs like drop in volume and speed of the rise, double tops and resistance that can't be broken anymore and stuff like that.
trading in my opinion is all about having that experience and that can only be gained by spending a lot of time watching the charts.

In situation like this, make sure you find out every information yourself and don’t read fomo or hypes, they are not positive while investing
Similarly you simply have to fix your courage and decision making
It will help you a long way

When prices fall sharply, you should consider buying at this point.
When prices rise sharply, you should consider selling at this time.
Always be rational.

I feel you. Every time i buy something it's value seems to go down. When i sell something it's value seems to go up. It seems to never go my way. Just goes to show how much smarter and manipulative the whales of this market are. They can time the market sentiment exactly when majority of the people will be thinking something and use that to their advantage.

This is why i discourage newbies from doing crypto trading. Until you learn to think like a predator you should just be doing practice mode using Excel. Just do pretend trading first.

Psychology on trading is to earn maximum profit so any turbulence in bitcoin will affect altcoin and is going to affect the chemicals released in the body. Sudden inflation will lead to quicker heart rate and the tendency to ponder upon whether I should hold or sell, psychologically one feels high and greed creeps in. If followed by sudden drop in the price, the thought process again will be affected leading to anxiety n palpitations. So remain vigilant, calm and psychologically relaxed to pursue your goals.

Well said. FOMO is a serious threat that many traders fall to. And not enough of them hold too.

I think that your psychology in trading like my psychology when I was gambling. I ever felt like what you felt. When I addicted to trade like playing game I'm so hard to stop my activity until my capital is loss. I suggestion you can stop your activity for some time and evaluate your wrong. Maybe you can change your strategy, risk management, and never break the rule that you have made. Good luck!

The best entry on trading is the bear market and not on bull market. If you are experienced trader then you know what it takes to get profit. The best thing you can do is accumulate when market is bloody and hodl. Buy low and sell high that's what you can do for now. In crypto you need to read news and everything that is cover by altcoins. same goes to our mother coin bitcoin.

FOMO can also be profitable if done right!
when people buy based on Fear Of Missing Out, they are fearing some actual rise and missing out on that actual rise. so if with that fear they also use some brainwork and see if it is already too late or if there were still time, they could determine whether they can still make money.
also it is trading that we are talking about which means even if you bought in too late and saw the drop, you can still use "stop loss" to save your ass and get out with a tiny loss instead of a big one. and tiny losses are nothing in trading.

No matter how experienced are you: you'll always face the situation when you buy altcoin, and it drops immediately or in a few days. First of all, you should purchase perspective and right altcoins, then even if the price falls, after a while, it would recover and even grow, and the second one - you need to understand how market moves, then stop buying at highs and selling at lows.

I experienced this situation when I first started in crypto investing. After that, I learned to question myself whether it is fomo before I rush to buy a coin. Since your coin price has depreciated, maybe it is a good time to buy in more to lower the average buying price.

Good luck!

When you trade in the market, then you face different psychological moments. In the market there are always emotions, there is always a fear of losing money and greed to make more money. Often such emotions interfere with good work.

I suggest you to research about the Altcoin and read up on news about it before investing. Another factor is to look at current market situation. Lastly and most importantly, look out for any updates in development that causes the price rise and whether it make sense.

It is very often to speak in general because very much depends on coin , which you trade. I rarely buy coins on a strong dump.

Yeah I can relate to this and I felt bad for buying that altcoin (I won't disclose what that altcoin is) because after buying it, I believed that it will go crazy and gonna pump but I was wrong. I entered with the wrong timing and the pumping scene has been done. But good news is that I'm starting to recover my loss from the biggest correction that I've witnessed in my entire life.
We shouldn't buy during the hype and we don't need to feel FOMO because that triggers us to buy more. Don't be greedy and be contented with your potential profit.

Sometimes we get stuck by the price we already consider that the lowest price but actually the price can still go down again. If I think it's good to make some buy orders. And control your emotions

however, its better that we need to analyze the chart first and look till how deep the alt will gonna through. if we just make some buy order and keep buying after each the price decrease 5-10% i think that was bad decision.
and also look is that any event that affect why those altcoin keep decreasing ?

Psychology in trading is not to sell its assets when their price falls and buy new assets when the price went up. There is an endurance and calmness.

That is explain if your mind is strong enough to accept defeat in trading and take all of those losses and move on. There are more opportunities next time.

Psychological is a strong affect that leads the investors usually to a deep lose.
Investors will always put there whole attention into the positive things about the coin they are about invest in, on the same time they are ignoring the negative things about, so they end up investing in really bad things even though they are aware of it's negativity and they won't reinvest if they will be able to reconsider all it's of negativity.

Thanks for the explanation, from now  it means I have to be diligent in seeing the charts and movements and begin to identify the things that often happen. I'm sure it will not be easy but I've got some important points that you submit.

It happened to me as well when I started trading. The feeling is unmistakable. At times I feel guilty for not following my intuition.

There is no way you won't make mistake investing into some project, but the most important thing is to be able to know when you are wrong, it is not every time that you buy a dip, some project will never hit their ATH again for so many factors and you holding them will turn you to bagholder.

This thing happens with most of the newbies because they are not much aware of trading they purchase the coin at the moon and think it will go to sky and what happen is correction because after increase a lot in price most of the coins do correction and newbie get scared from that and sell that coin in loss so best is to learn about how crypto market moves before entering this market.

You need to understand if you are trading for a long term, then this should not bother you, and if you are a trader, then you need study news for the trade, and never, repeat never, not to buy a coin when price at the maximum value

Psychology in trading is a whole science, because it is human behavior that facilitates the movement of the market, who you bear or bull today, it does not depend on the market, it depends on how much the situation obliges you to make such decisions.

Yes, I made that mistake. I bought ripple for $0.5, sold it for $1 and then bought again at $3 per coin right before the price went down a lot. It was a really bad decision and I am still waiting for the price to recover, so that I can return the money I lost this way. That's why I am more into long-term investments now and not buying when the price is comparably high.
Everyone makes such mistakes and learns from them eventually. I am sure the price will rise and cover the losses in time anyway.

May you give me an example fomo or hypes information which i wont to read? Thanks

Probably the best advice i can give you about trading is that you should leave your emotions behind you if you want to be good trading,this is extremly volatile market and its not easy waking up and seeing that your portfolio went 3-5x down durring the night(happened to me with neo and china ico ban last year)Do your maths and calculation before the trade and stick with it

thanks but still get panic when our assets were dropped a lot, even more, chart not give a bullish sign in a long time  ;D. But I agreed if psychologically relaxed must we can able to control it. The shadow of loss is a real enemy in our trading process.

A lot of things can contribute to psychological problems when trading. When you trade without limit or budgets and become excessive in it. Especially when you invest in cryptocurrency which you think you can make money out of it quickly without considering if the coin or token is really  worth it or not.

It has happened with me and i have lost a few trades by buying high and holding it till last. But lesson learned and i have learnt now to use stop losses on my trades so that i dont lose much.

Lol yeah, ;D , maybe you're correct if I recognize that my gambling psychology is still carried away when I trade cryptocurrency. I know you know very well, it's hard to change it. Needed to figure out some a good lesson to changed my strategy, I wanna to trade with the right way and principles.

You need to learn basic technical analysis so that you wont be guessing which is which to buy,trading needs to be technical,plus have some fundamentals so that you wont get any trouble when it comes into trading because you wont know if these trades are going to give you x10000% or profits or it is going to give -90% losses.

Things like not making quick gains as expected can contribute to psychological problems. And besides, there are many things that can contribute to psychological problems in trading and being too emotional is what most traders suffer. Not every trader is psychological strong to invest in cryptocurrency because of it unstable nature; most people can't stand it when the price keeps dipping.

which perspective I should purchase ( in order to get a right perspective on me) and how to choose right altcoin?

There's a lot of coins/tokens in different trading site so if you put money in a coins/tokens that drop after you buy it so better to invest in popular digital currency here like btc,eth,ltc and bch so even they drops still they will be back in their current high price so the lesson in your problem OP is don't trust the not popular coin and always read their future plan or check if the developer can handle their coin like it can be popular after they promote it like nano now that run in faucet by the developer so it's good too for investment

I think that in order to deal with trade, you need to competently compare many factors ... such as project events volumes that are currently included and technical analysis

Everything depends on the ability of a participant in trading on the exchange to correctly forecast the rates. To do this, you can use both a fundamental analysis, relying mainly on news related to the interests of crypto-currencies, and trust in technical analysis.

One all known investor said: "My job is to think and not to be influenced by others." This formula can be applied to crypto trading. I have many times been convinced that other people's advice does not lead to good results.

Start learning some basic technical analysis because it will really help your ass from getting rekt,i am telling you honestly you arent going to win your trades without using technical analysis,fundamentals would be much easier to learn ,you will just need to follow the news focus more in technicals and im sure you are going to make a lot of money.

Trading is an art, you can not be sure that a coin bought on a decline necessarily grows. Each case is individual and it is necessary to consider it separately.

good advice and worth a try. in fact, his case was similar to the one I experienced. and until now, lucky I was impatient and unwilling to hold coins that I have with the hope of a few more years will experience increased again.

I think that the most important thing in trading is to stay "cold hearted". Also you need discipline and patience. You should turn off your emotions.

Each trader is guided by one goal - to make money on the crypt, but very much depends on the character of the person- tolerant, quick-witted, hypochondriac and so on. Psychology of crypts depends on each of its participants.

I do not risk so much to buy coins on a strong dump, even Bitcoin or Ethereum, because everything can change in a matter of seconds.

I think that a lot depends on the small traders, who are the most in the crypt. They are very vulnerable to FUD and this also needs to be considered ..

Altcoins are extremely volatile due to their tendency of reacting to bitcoin movement pretty fast, so it is a market you need to trade with some level of knowledge and carefulness. Also, there could be some things you are not doing well, with respect to the point at which you have been buying, your strategies (that is if you have any), and the importance of planning an exit even before entering a trade. This is something that is highly necessary if you want to really be trading any market.

Probably the best advice i can give you about trading is that you should leave your emotions behind you if you want to be good trading,this is extremly volatile market and its not easy waking up and seeing that your portfolio went 3-5x down durring the night. Do your maths and calculation before the trade and stick with it.

You buy into the hype and only come in when the dumping start. The best thing to do in such a situation is to use technical indicators to verify a chart that if what you read on your chart correspondent with the news they are hyping, before you purchase. It is most adviceable to to buy and trade only established coins ,not just tokens that got listed on exchange.

I'm not an experienced person about trading. But I can give you one opinion. Most of the traders don't look at the charts. They only buy or sell coins when they feel to do so. sometimes it works sometimes don't. But if you have a better idea at when you should buy or sell then your chances for more profits are high. You can get a better idea about a coin by looking at its charts. So start looking at the charts right now. Other main thing is emotional control. That's the hardest part for almost all traders. Lean how to control your emotions. It will take some times. May be days/ weeks/ months or years.

As much as I have noticed, this seems to be something that all (especially newcomers to crypto) experience. I have experienced the same, and it has made me laugh how the price moves against my expectations after a trade. What I have learned of this, is:

• Invest only to those coins you really feel good about and that you know they have strong team and real working product.
• Learn to use your intuition (cut feeling), it does not lie, but you need some practice before you can be sure how it works.
• Keep your mind calm. Just tell yourself that crypto is volatile (goes up and down), but everything will be well again and you get your profit (You certainly will, if you stay calm).
• Look for serious sources of information and avoid manipulative hype.
• Educate yourself as much as you can, and you will be better and  better in your choices.
• Believe in yourself. Have your goals and stick on them. "See" and feel as if you already have your dreams fulfilled.

Good luck and be happy!

What I always advice people of when trading is to always include the sell limit in their trade, it is better not to lose more than one can afford to lose because when a dump start you can always buy the dip and make much more than holding through the dump and hoping the price pick up again

It is a very accurate assessment to consider this as a psychiatric trade. We have been waiting for months for cryptographic money to appreciate. I'm starting to get tired of this.

Psychology on trading is to tower extreme advantages so whatever disorder in bitcoin testament seizure altcoin and is miniature to seizure the chemicals released in the body.

There is no psychological sale in the virtual currency market. There is a problem about whether it is reliable or not. It is necessary to trade in this market to correct this situation, which is a result of a virtual market.

other people suggestions will not always be good even more likely they will attempts to trapped us and predict the market movement is quite difficult because we can't know the next pumped or upcoming dumped even i had several times bought altcoins at high price and sold at cheap price and this is common problem who dominate almost on every traders

A lot of things can contribute to psychological problems when trading. When you trade without limit or budgets and become excessive in it. Especially when you invest in cryptocurrency which you think you can make money out of it quickly without considering if the coin or token is really  worth it or not.

Most of the time trading can follow psychology.
If most people start to get excited, they should sell some of it. If everyone starts to panic, you should buy it.

One cannot say for sure which coin is good investment. I also experienced the same problem when I first invested in cryptocurrency. But I think one need to do some requirements before investing in it like view a project team, join peer-to-peer consultation, join bitcoin talk etc. One can also research own self to pick a better project.