Bitcoin Forum

Excellent summary, i endorse what's stated here. Always act with careful planning, caution and risk-management.

1. Thinking that getting rich is easy.
2. Not doing your own research.
3. Trusting random dudes from Youtube/Twitter/Telegram Group.

By the way, cryptocurrency isn't all about exchanges/trading.

cryptocurrency is the technology of the blockchain which i hope will be use in every aspect of our life in the near future,
when i look at cryptocurrency i look at it as a payment means that i hope to use in my real life.

I think the most important to an investor(s) among the above mentioned will be point 1&2,
Especially Don't panic buy/sell, most inexperience investors often make this mistake which they ended up regretting, worst thing that could happen to you is panic sell your token because price is dumping, or jump into a project when the price is pumping, invitation to get rekt,
And only invest what you can afford to loss, don't put your life savings on what you have no clear knowledge about.

Experienced all these points every time and was trying to get better at it.

Panic buy/Panic sell - FOMO and FUD is really cancer and i would say maybe 50% of the occurrence your actions would be against your expectation, it basically weakens your rational thinking over a certain position

Capital Management - Manys were bagging and lost track over their funds, some loser had degenerated until a certain point to savage their coldstored shitcoin only rare green days

I would say always pause and think after inputting new info, process it what you have (technical, reason, login) and only decide what to do. Luck wouldn't get your far i believe in long term

Getting rich in crypto is not easy and don't rely on whatever you get ,be willing to hunt for more because there is no certainty on any token or coin ,rely on your judgment and don't stop learning

Panic Buy/Panic sell that's several times happened to me and maybe many people in crypto. And that is a good lesson so we are more patient.

Why you let this happen several time? You should avoid panic buy and panic sell because it'll cause you lose all of your funds. Look the current bitcoin price, why price suddenly rapid grow? I think people follow the pump and panic buy, believe that price will grow more, but my past experience is don't follow the uptrend because price will dump later.

Panic buy and sell the worst thing that we should avoid. That will make us cannot see a chance to solve the problem, and we could get losses from trading because we buy the coin at a high price. But if you can stay calm in many situations, you don't have to worry, and you can continue to analyze the market so you can see what is happening with the market. After that, you can determine what you need to do, and if you want to buy, I am sure you can get the right price to buy.

Certainly, a lot of FOMOs are everywhere trying to ride the train even they knew the risk of hopping in. Although we can't say they're late but it definitely better if they buy few months ago.

How ironic how people think about bitcoin or perhaps they aren't those believers.

Just to add to the list, though it's already cliche but we shouldn't be putting all the eggs in one basket.

To simplify the biggest mistakes in crypto investment, I would say:
- People don't want to get easy money. They want to play hard, lose hard, before they can get hard profits.
- People don't want to get profits from their inactively tradings/ investments. They want to do as many trading orders, investment decisions (in and out), and play hard with margin orders as possible to get profits. In reality, they get losses, rather than profits.
- People don't want to have a happy, non-pressure lives. They want to have huge pressure with their orders/ investments (by using margins and get stucked or liquidated, for example).

Newbies make many different mistakes. However, we need to use knowledge of these mistakes to our advantage, because many people make these mistakes. You should have heard something about the FOMO effect.

I generally think that mistakes should be made because that way you will learn from them the wine if you are told how to do it and you will not learn anything.

I think this is the most important thing for investment. It's not easy to implement. I recently invested some money by buying Verasity. And the price showed a decline. But I'm sure we'il have to wait until one day it will rise. But as you said, panic trading is inherent in this market.

It seems to me that you want to enter the market is best to have a mentor.  Because I myself am very difficult to make the right choice.  Errors need to be done only with the mind.

It's always better to learn on other people's mistakes instead of your own. Your attitude is normal for people who made mistakes and are looking to comfort themselves.
Don't cry over spilt milk and spend some time reading and learning so that you won't make more.

The most common mistake new traders make is getting overexcited and rushing in both to buying and selling.

Waiting to make mistakes before you learn might be the worse thing you could ever imagine. There are some mistakes that can be very detrimental.
Whatever you lose through such mistake might never be regained again. There are certain things you can learn before going into a thing, instead of you waiting to make mistakes first.

Mistakes are made but that shouldn't cause you to stay down. You need to learn from your mistakes. One mistake I need you to avoid is panic buy and sell. This can cause you to lose your money.

Very interesting review, but I also think so. Today, the market likely shows its signal of bullrun, but nobody knows exactly behind this very incredible increase of the Bitcoin. So far, altcoins are still following step by step and they still have difficulties to increase significantly, only a few coins that can do that. Avoid those three mistakes if we want to be safe in the crypto market for today condition.

Totally agree with these. The bad thing that we always make mistake is panicking sell or buy moreover when in this kind of market situation. The Bitcoin is likely signing the bullrun but w don't know whether it will increase again or not. Just follow and analyze the market carefully, be patient, not to be panic a and only follow the hype.

without investment errors it will not be able to make investors progress and by knowing all the risks we have as investors will have enormous confidence and patience and of course errors will decrease

My biggest ptoblem is capital management. I am ok with strategy, I have vision, I can find right coins and select appropriate time to open position, but I take too big risks and I have nothing to do with it.
Any suggestions for me?

I think, Mistake that always made by most crypto investor are panic buying or panic selling. When prices drop sharply, investors tend to be disturbed by psychology and panic selling to save the value of their portfolio.

they have no strong mental or psychology facing bad condition on market.meanwhile this is main factor that needed by cryptocurrency investors.although they have good skill in trading but poor in mental they will not could survive.

Capital management and panic sell are things that I often experience at the beginning of getting to know crypto trading. Panic sell when the market is stable and also when the market dump is quite a regret when the market conditions start to recover like this.

Well summarised. Every trader should have a plan before they start and a rule book to follow.
Emotional buying and selling is another thing that brings loss. However good the coin may seem, don't go all in. Diversification should be a compulsion in your rule book.
Remember the golden rule of investment. Keep buying and selling orders in order to grab the profit.

Diversification is key to success. Differentiate different genres of cryptos, select a couple of best options among each genre. Invest in all of them though you could maintain a different ratio. Bitcoin has been great on providing fixed profit, whether healthy or not, buying bitcoin when down will give you profit as it goes up.

panic sell usually occurs because the project does not have good news, the team works slowly so that investors have doubts about the project, because most investors don't have much patience

In my own experience, this does not bring any good to my trading. Whenever there is a hype, now I learnt my lesson and I don't follow it. Often times it is a trap and whenever there are so many traders who tend to enter a long or short entry, please refrain from doing so.


Following signal group doesn't mean they shared accurate results. It is not 100% working all the time. And as usual, our own TA is our basis and those signals are often times our confirmations only. However, at some point those signal groups are beneficial, too. Is is always significant to set stop loss in each entry we've made. That will save us up to our big deficient.

Not because the project doesn't have good news, but someone panics because of their carelessness and impatience to sell and only thinks of big profits, in my opinion trading like this is always a moment to go up and down, if calm and relaxed do it definitely won't be a mistake or big risk, not because the project does not have good information.

But it's important to know the timing, there's also chance that you are already thinking that the value is on its dip but suddenly it will dumped more, knowing your investment is far better than investing blindly as you are more likely gambling with chances than expecting the growth.

Self confidence will build strong foundations together will your willingness to go beyond and embrace changes from time to time.

it was good for newbie panic buy only and goes to closed exchange immediatelly.
Get Prepare to take holiday  don't open exchange 2 years from now.
.

In this industry very much potential to make money. I think we should dare to take the risk. But you have to be careful in every investment or a Bounty. It's not easy but if you keep fighting and doing research before you participate in Bounty. I guess it will be able to make money though it's a bit.

I actually encountered a lot of losses because of the whale's signal. I am really a person without experience trading in crypto market and I always have to rely on whale signals to invest under them.
But after 3 months, I suddenly realized that I only had a profit of 2% and that the money didn't help me pay the bills.
so I think we should not monitor those signals. Create your own portfolio and don't listen to anyone.

all become lessons for those who have just stepped into the world of crypto trading,
because we have to have great patience, never give up the most important thing, keep trying and keep learning.

I think the biggest mistake, even before all these mistakes you've listed? Is people coming to this forum section and then diving right into trading, without making all the necessary preparations.

People basically killed themselves by rushing into trading before they even understood what Bitcoin was, what the risks were etc. So, no matter what, they were just heading into their mistakes.

Taking risks will leave you with more opportunities, it is said. Risk takers will be the one who is presented with more opportunities to get a success than those who fear taking risks. In cryptocurrency, taking risks plays a role as well. So I want to take risks when it comes to investing and choosing a project for a bounty campaign. But take risks in the right time and place is advisable.

Not necessarily need mentor, but you can have a better judgment if you got mentor, the most important things you got to prepare before entering the market, always do your own research and don't stop learning, and I think there are more to things to avoid, like avoid investing in crypto because of FOMO, avoid of putting your money in one basket

Every small investor is easy to make the mistake of fomo following the market up or down. It makes them lose the most in all mistakes

i agree thats really three biggest mistake that crypto investor always encounter. following signal is a not a bad thing but still need to research and look for the possibility . for me i also look for some signal but i do a research and only invest when im totally confident and willing to hold for long term.

Excellent and very true
So I recommend;

Instead of panic buy and panic sell, you can dyor and figure out the true details of event

Use an exchange platform for ur stop loss and ensure to trade at a marginal risk

Additionally, we should also avoid being too greedy because in the end we might suffer from its ill  side effects. In terms of trading, I always observe and conduct a stop-loss plan to protect our assets from the dangerous effects of high volatility of cryptocurrencies. Imho.

How many people can avoid the temptation of greed in the encryption market? There are relatively few people who can do it. The encryption market is changing rapidly. We need to constantly learn and summarize.

Greediness, one of the seven sins depicted in Dante`s Inferno. Because of our greed, we treat things easy for us. We think that trading is basic. Basic in a sense that we should just timing the lowest price up to highest price. When we are ruined by the price or unexpected movement of the coins. We immediately treat bitcoin as a scam. That is the biggest mistake we committed in cryptocurrrency.

I think one of the best ways to mitigate this is to give yourself some discipline with dollar cost averaging (DCA). Rather than make a large buy/sell with all or most of your funds keep the capital in reserve and do small regular buys. Example, instead of spending $2000 on one BTC buy and then stressing about the ups/downs, spend $250 per week for two months on BTC, that way you are riding the long term trend, not the short time peaks and valleys. Yes you might miss some opportunity that way but you are protecting your capital, because the downside of choosing a large wrong entry is a far worse problem.

One more great failure is the funds diversification. People often forget to split their portfolio into several parts. I am holding my altcoins on 5 Myetherwallets and all other coins are stored on several exchanges to protect funds.

for one and two, I think this is often experienced by everyone. but for the last, I think it's rare for anyone to do this. believe in trading signals, come on after yesterday's fall, no one else believes this. the signal only makes us lose.

I have been a victim of all and I have learnt through the process, making a stop loss is a very important aspect of trading and not being emotional about any coin. Asset management is one aspect I have not gotten right as I am often caught in between trying to go greedy most times and in such case I lose some part of profit or even capital

I have my other three mistakes of crypto folks that pushes them to their own grave since most suggestions were already said.

- Having no plan. Plain and simple, they just buy whenever they want and they go along with the FOMO which isn't a good move for someone who's already in the market.

- Still investing to altcoins that doesn't really have any plans to emerge and develop. More of being bought by the hype and believes that it will make them millionaires.

- Don't have his own decision, an individual that depends his decision to the crowd.

it would be better to do our own market analysis than you have to believe in the signals from other people who might just be a game or trap that could make you trapped in a loss. still be careful.

But it is not safe to keep your money in any coins on the exchange. Exchanges are hacked, liquidated, organizers of exchanges are arrested (MtGox, QuadrigaCX, Cryptopia, BTC-E) and in any case you lose your money. If you don't plan to trade then keep your coin on an hardware wallets.

All these mistakes can be made only by people who have no experience in trading. The person who is engaged in this business for a long time so will not be mistaken.

A danger foreseen is half avoided.Of course, every beginner admits all these mistakes. A cautious, patient man who is patient and capable of analyzing such mistakes does not allow.

It all boils down to careful planning and strategizing. Just as it has been stated here, one will end up being a skillful gambler if transactions are nkt well planned. Losses and frustrations will also be inevitable. Times of bumper profits will be limited and one might soon be tempted to give up. So, it is always better to take into consideration the important stuffs so one will not be left at the verge of regrets

This is brief but really insightful for trading.  I laugh when I see people follow calls from so-called signal channels. Most of them are pump and dump agents, they are just there to dump on loyalists.  See, always try to be good with TA and always set stop loss when you are trading.  Do not be carried away by calls from twitter or telegram, so you don't get burnt. To be a good trader, never love a coin, sell when it's necessary, don't hold for the moon, the moon will never come. Let's not apply greed in trading.

This is very right. Don't get too attached to a coin.
Because most of the time, they will betray you with their price.  ;)
But maybe, when it comes to bitcoin, it is a different story.
OP's principles are very simple, yet, when it comes to your situation, it is hard to apply because you don't want to let go of your coins or tokens, hoping that someday, it will give you good returns.

In fact, those three mistakes are the most common mistakes done, moreover, the panic sells or buy because of only following the trend without any own analysis. This is too bad, moreover, for the newcomers in the crypto world, it may lead to loss and bad investment. So, be more careful, deep analysis, wiser selling or buying, and also learn the market chart.

mistakes often occur because we cannot control ourselves.
if we are calm in facing something, of course we can think positively and be able to take good actions, but sometimes we are in a hurry when taking action.
Crypto has a big risk, so we can make mistakes, maybe we can fail.

Number three is something that I learned to do, following a signal Without risk assessment or stop loss. Investor should have known their risk when jump in and when to stop. But this is not so easy to learn and need time.

These are some mistakes you should never try.
- Never join a pump and dump group to buy a token/coin. It is very dangerous.. You can make %300  loss if you try it.
- try as much as possible not to buy a token/token when it's pumping. Learn to overlook. Buy low and sell high.
- Never invest or trade what you cannot afford to loose. (Most important)

There are also some "random dudes" in this forum and we should be careful on encountering them. I saw one post in here that within 24 hrs he can double your bitcoins. It's an obvious scam so, we should not trust anybody that comes on our way. But the best thing to prevent doing mistakes is to research on that topic. By that, you can avoid being scammed by people. Not only from these random dudes but also in investing on cryptocurrency.

to determine the right time is not easy even though we know its growth because of seeing it.
our carelessness can also make us fail, because trivial things can influence it, so we need to be careful in doing anything.
big mistakes usually start with small things but have a big impact.

Agree, mentality and strong psychology are needed in markets where price movements are very high. Smart investors must calculate and minimize all risks. Trading skills without strong mentality will make us lose too

Panic sell is the number one mistake even for the investors who have been staying on the crypto market for long. Not to make it, you have to invest in the token you really trust, the alt which have the potential to gain later if it falls now.

I think even the wise people in the crypto market can make huge mistakes and even if they make little mistake, they can lose considerable amount of money so it is something that is not only limited to newbies but also the experts. Of course someone who has been in the business for long would be able to avoid mistakes and would make money as a result. One learns along the course of trading.

Sometimes panic buy or sell save us from huge losses.

Yes we need to be a trader tather than gambler but how many of them are actually doing it.

Chances of lifeline jacket to save us when we jump into the sea is only 1% or even less.

it is a good point with these three remarks, from which i find second one most important, but you should also include analysis, never invest before you know in what you are investing, since that is not investing, it is gambling, and could be successful, but the quote for success is low

Most traders do not understand the volatility factor in crypto markets yet, for me it is a good thing from a traders point of view but most of traders take it as high risk and some even think that trading it is not worth trading crypto market but i do not think it is correct.

My prediction that, Alts coin need time to grow, bitcoin dominance more than 59% whales still focusing in Bitcoin at the moment, alts will suffer and will take time to go in bull run.

cryptocurrency need to us to educate our self by our self, we need to learn, if you do not know ask others by then you will never forget the information you learn.     

I agree on panic sell/buy sometimes emotions really affects.
This is a good advice but I think it fits best on trading discussion.
https://bitcointalk.org/index.php?board=8.0

Good suggestions for a trader. Trading is all about buying in the right time and selling in the right. Selling might not be always in your hands but buying would always be. Be careful while buying and place the sell orders accordingly.

Everyone's perception is different and this is a natural thing if the assessment of trading has a positive and positive side especially the risk in this job is quite large so it is only natural that there are many opinions about trading

I think as a newbie, we definitely encounter mistakes and its just a normal thing, for me panic selling or panic buying is one of the most common newbies experiencing mistake, also participating on unsuccessful ico, and joining a scam projects.

Thanks very much for this as it is actually coming at the right time.

I have been a victim of trading based on signals without any assessment whatsoever. At the end of the day, I end up chasing green candles and end up getting dumped on.

We learn everyday, anyways

These are all good pointers and you can add to that HODL'ing as a worthwhile long term strategy just seek out the best value assets with good quality product offerings and the potential for increased demand as their ecosystem grows and be patient

some people think panic selling is not a big mistake, because they think not to accept lower prices. but if the hodl is longer, we know that the market will go up, but in the 2018 period, the increase is very slow. then the person who has sold when the price has not dropped, considers it to be the right step.

Not sure why you're being merited for stating investment 101.

How about providing some more in-depth knowledge on how to avoid getting into the shit in this current market, I'll go first.

1. Don't hold losing positions simply to avoid actualizing your losses. Instead, liquidate these positions and move into other more profitable ventures. Then, if you really believe in position 1, acquire a larger stake with your new found profits.

2. Avoid using unproven stablecoins like USDT. Although it is more convenient than others such as Circle and True USD, Tether have frequently been shown to be suspicious, and until they unequivocally prove they are not operating a fraction reserve, then Tether could collapse.

Great advice for traders and investors in any spectrum of the market, though you should understand that mistakes are bound to happen. Even experienced investors and traders experience mistakes every once in a while. Though newbies or even players in the market that have low capital should not be discourage in making mistakes.

Instead to the following:

 - Review your plans and see what worked and what failed.
 - Always be ready for the worse possible scenario and have a plan for it.
 - Search and analyze available data and history, as it will help you decide your next move and predict market movements.
 - Join trusted groups and forums to learn more about different strategies and market signals.

"Panic Buy" seems right at right now because everyone all think Bitcoin's price will continue to raise up and may gain 100k, so many people are buying Bitcoin , but everthing is not easy like this, I think there will be a big adjustment of market in few upcoming days

I partially do not agree with your number one point, because it is not going to be every time that such action will go against us, there have been some cases where people panic buy or sell, and they were grateful for doing so. In the aspect of panic buy, I can agree that it has only favored 30 percent of trader out of luck, because I could remember recently when Bitcoin wanted to start rising from $9k, I had expected further decline, but when I saw the signals, it was out of panic buy that I bought, and right now I didn’t regret my action.

You see panic sell, I would not totally disregards it, especially in this market that IS being manipulated, there are so many coins that if you don’t quickly take action to sell, you may end up regretting for life, which is why we have to be very sure of project we want to invest in before putting any large fund.

-Quality of the project
-The direction of the trend and your position (long or short)
-Target point or take profit zone
-BTC trend and situation
-Patience
-Never give up

I think you sum up an investment philosophy. We need to constantly sum up the gains and losses in trading. We need to develop our own investment theory and habits. Let's minimize our mistakes in trading and investing.

The market is again repeating in 2017, the BTC pump makes altcoin dump and then BTC dump makes altcoin dump. But doing so will make big investors more profitable when altcoin is at a low price. Don't repeat the mistake before

yes, what you say is true in your opinion and maybe in my opinion the mistakes we have made have made us more careful in investing in the crypto currency, the belief is the best capital

Sometimes, panic sell in inevitable in some cases like you described here, but that is why an investors must strive hard to ensure that any project being considered for investment would not cause him to be a victim of panic sell in future.

Most of these panic sell advise is usually more useful to people that have investment in reliable coins like Bitcoin and maybe top 10 coins, because those ones will always have a positive future and no matter the little challenge we encountered along the line during our trade with them, we should know that things will always be corrected, so it is not worth having panic sell over those top coins, we will end up losing if we do.

I can list these mistake like below,

1.panic sell
2.panic sell
3.panic sell

You should never do a panic sell.(unless there is a story behind it, scam accusations etc.)

Thanks for the abstracts from you!

I did this method 2 years ago and it was very helpful.

New participants please note the above.

I agree with this and is the basic capital in starting something I want to do, I don't need to rush to start something. enjoy the process it will produce satisfying results.

Brilliant summary. Risk management is very important and another thing is to learn how to make personally research on a project before jumping in it, so as to minimize running into lose

Of these theses, the first is the most important (Panic Buy/Panic sell). Any market is always subject to panic and the cryptocurrency market is no exception. That's human nature.

They will not do that only because they have to. It was a common mistake traders made but it was right to think before making that decision so as not to regret it.

Yes, this is a very good rule that should not be neglected. It is according to the scheme described by you that beginners act, who have just started their way in trading in general and in crypto in particular.[/list]

Holding is a newbie thing to do but that doesn't mean its not smart.  Most people lack the knowledge and ability to trade so holding is their best option.  But always set a price to sell ,its not like your going to hold forever.  Sell off in chunks so you can cost average your sell price.

Greed and also too much faith in some project. I think whenever it shows bad sign then you should start to sell don't put too much trust in this because it can dissappear so easily so better safe than nothing. Greed is also the main enemy of us whenever greed completely control us then you will loss because you think your brain is the player of market

I strongly agree with the third point, many people (even I once) experienced mistakes by directly trusting the trading signals without careful thinking and without doing research first. So since then I have always tried my best to be careful in accepting recommendations from several trading signals.

Right,holding too much longer on some project will make us to be fool so that is why we need to exit that project if we are not able to hold losses from that capital.

For signals it will be better to completely ignore than trusting with backup plans because we knows that this market is not predictable by anyone so why we need to trust them.

The biggest mistake to avoid as a trader or investor in cryptocurrencies is to buy a particular coin or token based on FOMO (Fear of missing out) this is because the cryptocurrency market is relatively unpredictable and  by investing based on FOMO  is the first step to getting rekt.
When the market seems to be in a stable state is there best time to get in on coins and not when it is pumping hard because there is often a correction stage after a big pump

I agree with you, but I also want to add that it is necessary to buy when the market falls, and to sell when the market grows. In one case it is panic, in the other greed, it is necessary to do exactly as I wrote.

I will sum all three in two words.BE SAFE.

Risks are always there. I am not saying that you keep away yourself froms risks but we need to manage it. In every decision that we make, in every actions that we do and in every reactions to the situation that we commit should be calculated. Risk Management is really effective and can be developed for long term plans.

in the world of cryptocurrency trading mistakes that I must avoid are easily affected by false news and easy to panic, and the worst is that I was hesitant to buy coins even though the price of the coin had fallen very deep but I still did not buy and late to buy coins at cheap price.

You need to pay more attention to the following things to avoid making mistakes:
1. transactions
2. Nobody gives keys to their wallets
3. Not to listen to anyone, but to think for yourself.

1) didnt buy ledger nano in the beginning working with crypto! 2) afraid to sell currency, because the price could be higher 3) holding a lot of altcoins

Everything is written right! Everybody is mistaken, both experienced traders and beginners. We can not control the market, the only thing we can do is not let the market take more than you can afford to lose. Before entering into a deal, you need to think not about profit, but about loss.

The worst fault that you can do is to invest a lot of money into on coin, because it is like a casino. You never know what is going to happen tomorrow, so it is always better to split your money among at least 10-20 altcoins to be safe.

4. Treating bitcointalk as due diligence or anything but pure entertainment.

To be safe from disappointment in crypto space you must not put all your eggs in one basket, don't invest all your money in a single coin or token ,diversity is the solution ,if a coin doesn't grow I'm value another one will ,just make sure you are very picky cos not all coins and tokens are good

I would say about one mistake but think about it, it could save you much time and money than yours.
Invest in Bitcoin, forget about 9000 altcoins (there are maybe 10 that worth). And HODL, you will be happy and satisfied after all

Very often we see the price of a coin rising and people go behind it without doing the proper research. Many of the coins are overvalued and soon lose the value. Only if you had avoided the FOMO and done proper research you could have avoided such a scam. Take a look at the coin and its market cap.

To a greater degree, the excitement around the coin raises its price.  Thus, you can apply a strategy with which you can not very promising coins, under the influence of speculators is very profitable to sell.  They inflate the price and then sell to get rid of unnecessary coins in this way.

Crypto signals are not safe for those who have no related trading experience with PAMM accounts which use the main and child accounts for copying trading signals. Stop loss will not help unless there is a proper money management in my opinion.

I am not a trader so I don't really know about signals and capital management but I know it is very suicidal to panic buy or sell. In most cases you might end up regretting your decision. So it is better to do your own research.

You made a valid point, never panic buy or panic sell, try to know the root of the news causing the panic, also try to manage ur capital also, when trading, stop loss must be taken into consideration.

The only thing I can't resist is the Panic Sell, When you see the price has drop down a big amount only few investors can stand on that situation mostly they will panic like me and sell the remaining coins they have to at least get some earnings. as for me I never regret my decision after I panic sold my coins because it saves me from a lot of stress.

to be more confident and so that you are not confused, you have to be confident in yourself and not easy to trust others so that you are not easily shaken up in making choices.
sometimes also a big mistake occurs because small things are done because of carelessness, so for the future you have to be more careful.

Woow, this is great as there is no better truth than this.
You took time to outline all the mistakes majority keeps making. Now the market is growing most will jump into a moving coin without the needed assessment and when it goes against what they want, they start looking for who to curse.
I will wish many will see this and learn.
Nevertheless, taking risks is good but it should be after proper assessment.

Three good points, in crypto everyone should mind it! Personally, the panic buy and sell is too much harmful for any crypto member. But every time you can't control your emotion or patience! Yesterday my close friend asked about buying Bitcoin at present 11K USD price, I told him No, not now, don't be panic! And then the BTC price came to 10.6 USD!

How can you use Capital management? and buy so many good Alts?

IF you have $5000. For trading at a time you can use 50% only, mean $2500 and keep $2500 reservation for using when market down example for using it in when market dump.

By the $2500 you can buy many coins:
For example, you use 5 % for each coin that mean $125.
And, for buying another coin; this time you have $2375 available capital, at your wallet so this time counts it from the $2375.  
If you set 10% for the second coin that mean $237.5

You will do the same thing every time, counting this 5-10 % from the free capital.
This means you have an unlimited capital for many good coins.

This us one if the biggest enemy to crypto enthusiasts and it is one of the biggest mistakes we make. Although, after making a mistake of this firm, we tend to learn from it ad retrace  our steps.
Most of the times, those who panic buy, will end up panic sell. Therefore, courage is very essential.[/list]

Panicking are normal to people, its hard to covince them not to panic buy/sell. Education is a must for them to be more confident, and having right knowledge can be a good factor for them to stay focus. These mistakes will continue to happen if they allow this to happen, proper control should be done.

One thing that always ignored by us, the price movement. This is different between trading or gambling, we must know about technical or fundamental that can support candlestick movement. I'm agree with above, we must be patient to wait for good condition to buy coin, management can help trader from overtrade that make us lost so much, then we must set stoploss to limit our losses.

Man, this is what manipulators of cryptocurrency usually use to generate their own profit.
Some pump and dump groups are trying to make profit by pumping the price of a certain coin, and sell it after many buyers doing panic buying.
This is why we need to analyze the market movements before buy or sell our coins.[/list]

you are right, many beginner traders still experience panic sell so they lose in trading, everything here will have its own risks, brands that already understand trading are very patient in seeing opportunities for profit. we have to learn a lot about that.

Emotions played the worst thing ever to happen to your journey inside this business, if you can't control it, most of the time you'll suffer from making mistakes as you'll be moved by any market situations, you have to be precise when you are inside this market don't let mistakes to pull you down but instead try to work without any emotions you'll find success after you conquer your fear which created by your emotions.

I totally agree with you 100%. In cryptocurrency, if one is not careful to take due diligence into what is needful, one will end up being a gambler instead of a trader and with that, frustration is imminent. It is possible one gambles at some point and it works well but when failure will hit that individual, the blow will be mighty

that's a very nice lesson.  But I have tend to study human being and I have noticed many of humans don't like following the rules. Many don't have patience and end up making mistakes.  I hope this can teach them something

humans don't like following the rules is because of greedy human nature if you get it off you can be good trader in all times, just learn when it is time to take profit.

Man, this is what manipulators of cryptocurrency usually use to generate their own profit.
Some pump and dump groups are trying to make profit by pumping the price of a certain coin, and sell it after many buyers doing panic buying.
This is why we need to analyze the market movements before buy or sell our coins.[/list]
[/quote]

To avoid this pay a visit to the coin community that you see it pumping , try to know whether their is real news and update that make the coin pump or if no update and now reason you know this is a pump. in All cases if a coin pump do not follow the pump.
As I learn if you miss a train just wait for the other one do not rush.   

Market manipulation is a very big issue in crypto, both exchanges and traders rely on it to make profits at the detriment of unsuspecting traders. So it's important to be very careful in whatever one is doing.

Mistakes that you make in the crypto-currency sphere always lead to the loss of your money..simply from different mistakes you can lose more or less. Lost profit can also be considered a loss.

Before you implement this you should first know your risk level then go and implement these three do not go investing without setting the rules and without the right tools to analyze all the coins that you are going to invest, it will take time but it's worth it.

a good advice from a professional trader. it shows how classic and experinced you are. kudos to your advice. we need to understand that the market is been manipulated by big old whales and they never loose. it is under control. all you need to do is trade with caution to avoid getting burnt.

Under no circumstance should you invest in a coin without proper monitoring and careful control. Some people do not know how to use the stop loss function on exchanges, which can be harmful to any regular trader. There are materials online that readily explain this process. Learning it now will help you evade any regret in future.

we should be able to learn from the first mistake, and not repeat it again. or at least reduce the risk of errors in the future.

most of these mistakes often occur especially those who are new to trade in the crypto world. don't be afraid of mistakes, fix these errors immediately, and always learn to continue to grow. it is not easy to become a successful trader, all of them need processes depending on whether they want to proceed or stop at the place.

there are basic mistakes that did by begineer when they entering cryptocurrency market.they think after buying coin it will give them profits automaticly.so most of them felt lazy to train their skill and knowledge.after suffering lot of loss they realized that investing need knowledge.

The worst mistake in my opinion is the lack of diversification in your trades and portfolio. You just cannot enter any coin with 100 percent of your deposit. Split your portfolio among the best rated altcoins and invest in perspective coins none more than 10 percent.

Great explanation without using much words. I commend you OP for this very simple yet comprehensive advice. I think this is enough for everyone to get reminded of the things that should not be forgotten once starting to trade and/or invest. There is no better investor than one who is careful in every step of the way.

of course, everyone will be careful with their money. only foolish investors are wasting their money. researching projects and developers is an obligation that must be done by investors. especially if you have to look at market demand it will be very important for the future of investment.

I don't follow signals. Am I a bad trader? I just look at how much I bought the currency for and then from that I work out how much profit I want. If I see it is a good profit I sell. Then I get a good trade and I still have a chance to buy more when the price drops. Otherwise, I don't buy then the price drops anyway. So selling when it is up is like a second chance. Unless your currency goes up multiples of itself.

1) Never sell altcoins right at the very bottom...Hint: HST decision token

The signal scream we are at the bottom of the altcoin cycle, its only up from here https://www.coinspot.com.au/buy/hst (https://www.coinspot.com.au/buy/hst)

Most investors enter this market for money, so before they join they do not have training or learn about how the market works. And since then the nature of greed and fear of man is most evident

Very insightful post. I usually tell crypto enthusiasts to use stop loss on every trade, to avoid getting cut up in a bad trade and losing more funds. Also, avoid greed when trading, take profit when it's necessary. Understand what works best for you , do not rely on some buy calls by pump channels.

Stop Loss is one of the most important things for any trader and if you do not use this tool, then there is a very high risk for you to remain for a very long time in a position.

Panic buy and sell is something that can't be stop in crypto space and we all know that some panic sell favours on the long run, some projects aren't good enough and they aren't worth holding on to so the moment you can sell off that's the moment you won't regret you did

Mistakes are inevitable. Everybody makes mistakes in his or her lifetime but that doesn't mean you shouldn't learn from it. The important thing in life is that you don't repeat the same mistake you committed. In cryptocurrency, you need to have a mentor and read more about the project you are investing.

I think this strategy is followed by those who have recently started to invest in cryptocurrencies.Basically, those who have seen many ups and downs automatically developed immunity from panic!Cryptocurrency tempers people.

Yeah its true.  Also, you should be patient and persevere on what you are doing. You should be dedicated to be part of the cryptocurrency world. You should work hard on learning new things about those cryptos. Analyze all the possibilities that might come to your life.

Its good to take risks but taking risks without capital management is what many did and they ended up blaming the technology, either investing or trading in crypto always learn to risk only what you can afford to lose

my biggest mistake is.
1. I am too ambitious when investing because seeking greater profits ultimately suffers considerable losses.
2. install the application from an unclear source so that some of the assets I have become lost. .
3. using capital from borrowing from a friend or bank. so that made me become burdened. finally I was forced to sell my assets in a state of loss. to cover debt

From the three things mentioned, I think the third is the most dangerous because most of those signal groups are just pump and dump schemes designed to benefit the owners of the group and a few lucky users who got in fast and got out faster.

I did only the third mistake what you mentioned, I didn´t use stop loss when I traded with 3commas bot and that was my biggest mistake.
Now I have many useless altcoins that are continously falling down instead of BTC.  :'(

These are the mistakes made by the beginners mostly. As for the installation of suspicions applications, we must all remember that your device can be infected at any time, and your crypto can be stolen. My mistake is not feeling the right time where it is better to sell crypto to avoid the loss further. It is not so easy to pick this time actually.

Thanks for sharing this and hope many will see and learn because this is true of trading. When on fails to follow the adequate way to trader the person will only end up gambling with his funds which isn't good in any way. Its better to start trading with all needed knowledge so as to be safe.

Trading requires a lot of personal management skills which involve discipline, patience, loss of greed and perseverance. These combine up to make up the attributes of a good trader. And its essential that anyone getting into training should have one or more of these qualities

1.Taking signal from friends.(99% of their signal are wrong)
2.Not having self confidence.(Always hesitate about what you're doing)
3.Thinking that you will get enough money to become rich easily

Those are really true and happening to most of us. Friends can always give their speculations but you should follow your own instincts. So if in case something goes wrong, you will blame only yourself and not other people. :P Greed is human nature so we always aim to get rich as soon as possible but we need to do a reality check once in a while. Accept the fact that we can't get what we want in a very short period of time.

These are actually most of the core trading lessons I got from a mentor. Patience is very very key and underestimated. One you have done a full research and picked your coin, set your targets and be patient on them to realise and do not bulk to market pressure. It is one of the hallmarks of a good trader

That's what I often experience. And this is an excellent discussion and I think it should be avoided. I do a trade because I believe it can generate many advantages. However, it will certainly not run easily and I will continue to work hard to make the best.

Thank you for your suggestion! I believe that these three that you enumerated are the mistakes that we always encounter. But I will summarize it in one thing. Be ready when you will enter the market. Trading is so dangerous for newbies who just want only to invest without prior knowledge. Think as it will be your life and be resourceful so that you gain a lot of money.

First greedyness or what we call the buying a lot if the price is down and this can lead to a losses, second look for the good bounty projects or ieo/ico project to invest not in the projects that can brings us profits and lastly dont take the risk of you are not sure if you can mak e it and this situation can bring us big losses and can affect you a lot.

You are right. The three bases are key so as not to get caught up in issues and fraud. We must have a strong stand and analysis. All that can be obtained from experience. Everyone must have done something wrong, especially in point one, I also still had difficulty strengthening mentally when my analysis missed, as much as possible to survive so as not to panic.

I totally agree with you about this. Though all the things you have mentioned are pertaining to trading, it can also applied to any aspect here in Crypto Space. Panicking is not a good behaviour especially when you are making decisions. Ignoring something that is important will result to chaos. And lastly, risk management is something that we need to master before we can say that we are ready to invest or to take risk.

ive done face up with that 3 mistakes, at least for 1 year I did it and this year I just realized something was wrong with my trading method.
I started reading financial books and analysis books, i dont wanna become gambler again. and also did not depend on signals from the trading channel, also learned money management every time I trade.

Holding is a good way of saving time and all the stress that comes with monitoring the price of coins all the time. Make research about a coin before investing in it.

I disagreed with the first point, it is possible one make a mistake and panic sell, most people that dumped their Altcoins when BTC rally was about to start around $5k made the right decision, though it is better to have a trade strategy before entering a trade but at time one gut could save one

All of these three things that you’ve mentioned are very significant. For example everyone think they know they should stay away from “panic buy or panic selling” but yet they still do the same old mistake. Crypto market requires being calm and reasonable every single moment. Just make good plans and stay calm, it’s the best way to avoid mistakes.

The only reason why people make these mistakes is due to either low amount of knowledge about the entire factors influencing price fluctuations of most coins on the crypto market or lack of understanding regarding the basic risks associated with crypto investment. Once there is lack of understanding, doubt sets in and they either panic sell or buy...

That’s true, its about mind conditioning and if you have goal you know where to go. I still feel the panic honestly, but I’m not making any move because of my emotion, i just stay away from the market and back if the trend becomes normal. We are humans, we feel this always but of course we are also capable to control it. Keep focus, don’t panic with your coins and don’t let your emotion to ruin your plan.

In the first case, I think very importantly. Panic buying and selling panic is the thing I think the results will not be maximal. But that's what many people often do when the market price situation decreases sharply. This is the basic knowledge that every trader should understand and do not easily panic.

My biggest mistake is that when the price of the coin that I have is very high, I still don't sell it because I still hope and wait to reach a higher price, and in the end the crypto market experiences a disaster, all coin prices dropped dramatically, including coins mine. so my biggest mistake is greed

we need to be able to understand crypto and have a strategy in place before entering this market. Like what you'e said, panic buying is something that i've done before and it's been ugly. I dont want that to happen to me again because i've learned it the hard way.

This is most difficult because it requires a strong mentality. A chart that falls like a deep chasm will shake the confidence of traders or investors. Selling quickly is sometimes also needed when the market doesn't allow it to return.

Actually this article is not new, there are too many posts about this. These are 3 things that any trader has made mistakes.
Anyway, it is a good summary, thank you for bringing a message to the community, hope the newbie will read this article.

1. Don't chase a moving train
2. Never go all in
3. In all thy acquisition, hodl btc, remember it is because of btc we are here.

I experienced some of the mistakes mentioned by the OP during my early days of trading and I learned a lot from them. These past mistakes made me more inclined to study more kinds of technical analysis and other tools to improve my trading. Following the rules on proper trading and avoid these mistakes might be follow initially but if you are determined to become a better trader then you may be able to overcome it later.

Investing in a projects during the bear season i was panicking and i had to sell , just a little pump in price i lost to dumping. It is not always win win, but would have just waited a little cos i sold in loss.

it is the same as which any type of investment, do you analysis, and invest in accordance with it, your points are very clear and understandable for rookies in investments, and a lot of crypto users are rookies, since they do not have investment background

This three situation is based on the psychological mistakes but there are many also available to the fund management mistakes. The proper fund management is still not developed by any body for the crypto segment. So it is purely based on the own judgemental capacity. So, always invest in the right crypto which will pay you in long term.

I like the no 3 point there, you know this has been one of the fallout most people experience in Crypto. it has really made so many loose huge sum in Crypto. And I will also like to add

4- don't join a project or ICO simply because your friends are doing it, make due diligence to research a project before you can join

I agree. Along with these, we should also trade with strategies and not get carried away by a coin's publicity. 

Thanks for sharing this, I think it's not applicable to only traders, but it's also affect investors. Am a victim of following people calls or signals without DYOR in early days in crypto. But right now, I have upgraded myself and if at all am going to take your calls or signals, I have to DYOR before investing or trading

Before jump into any investing/trading shares, crypto, forex you have to pass some money management courses. It will help you to diversify your risks and it will save you tons of your money. I will have to spend some money on those courses,  but it worth it, believe me.

yes, some of the points above are things that need to be avoided, including number 1, a mistake that often occurs in me personally when I see a coin that I have the price drops. I learned from previous experience, if you do not want to experience big losses do not ever invest with coins that do not have price developments and are also not easy to panic when you see the price of coins down.

The worst is to buy high and to sell low. It is the main problem of the whole industry in my opinion, but without such people, would great traders even make money? Somebody loses always when another party gains big profit.

yup! it's like someone else's fault is a blessing and profit for us and vice versa if we are not good at analyzing the market properly. as you say without people like them, no one will lose and no one will benefit and of course the market will look dead.

but if possible, we are not among those who have made mistakes.

Crypto space is a wide haven full of profits and yet loss too,every crypto investors must know the risks involve in crypto before taking any risks and investors need to learn and be smart when investing on any project,presently we have too many fake project in crypto world so its a must for investors to do research to avoid falling victim to scams

many people are trapped in trading in the crypto world, the most trapped is panic selling, they are afraid of losing the opportunity to sell coins, let alone see the trend of coins starting to fall they will release coins, without looking at risk and analyzing coins going forward, most of them lose the opportunity to profit and lose everything.

Three things that must be known to the trading community and long-term investment, these three things must be embedded in us to deal with fluctuations in market conditions that tend to be unstable. Otherwise, it can affect someone's psychology

Nicely said, in cryptocurrency all must be well with knowledge and never takes your patience off.
Buy the good ones and keep them but never crosses the limit of your budget.
I dont like those trade signals, the admin will always on the winning side.

It wouldn't have been said any better. Concise and on point. These few points have made a lot of traders rich when acknowledged and practiced and aswell made many more traders poor gamblers because they didn't adhere to the tenets

These could help for traders by checking on the good news through social media. When we trade we have the biggest mistakes experience so the next time we should learn our lessons. We should manage our emotions to avoid losing in crypto.

Not Using Stop loss is also a big mistake. It is very risky to trade without stop loss.

Yes all you said is right. We are doing business we are not dealing in gambling. We need to think well our action. Like you said you don't have to do a panic buying . You should have a action plan for every investment and startegies that you make. Dealing here in crypto world is full of risk and that is normal. From the start you already know it so accept the fact of being loss BUT make an action to avoid loss.

if i look at the past, maybe 3 big things I've ever done wrong are, investing in an untrusted HYIP site, depositing assets with people I've just met, and maybe wasting an opportunity to sell assets at a high enough price. Well, we all have the pain of doing business, but I can make it an experience.

I really like the points buttressed here about mistakes made in trading. What misleads people most times is hype, do not buy in huge amount of a coin because of hype, most times the influencers who promote these coins get paid for that.  I made that mistake with SEELE when some influencers chilled it, saying it's blockchain 4.0 . Also, always do proper due diligence before buying in, never rely on other people's judgement. Avoid greed most especially, take profits when necessary.

Very clear points that should really be avoided, Never panic buy because of fear of missing out. Also when there is FUD, try to know it's cause, before panic selling. Always try as much as possible to do some research.

true, stop loss is also very important to be careful not to lose too much.

indeed in trade we must pay attention to many things so as not to get a loss. even though we have paid attention to this and that, the risk is still in our midst. that is why being a trader is very difficult, we must learn quickly so as not to be left behind.

These 3 things often happen in the world of cryptocurrency, and I think it depends on each person itself because everyone has a different way of dealing with a thing. Some people, when they see the price of the coins they hold, will choose to look at the cause and analyze it to predict the likelihood that will happen later, but some people will be afraid if the price of the coin is falling so they choose to sell it. So I guess that is already the personality of everyone and only that person can avoid it

I am a hunter. I am a casino player. This is just Russian roulette. Not when you do not please which project will bring profit today. Of course, in any business, the most important thing is money management. Here, to become rich is an important factor. Let's say invest in the winter in ETH for $ 80 and sell for $ 360. Mindfulness control. Job.

You have made mention of the things that should be avoided as crypto trader, The one endorse most is Panic buying/Panic selling because this is the category most traders fall a victim of, all in the because they are afraid of missing out.

Hello there, are altcoins set to be traded or mined as well? I've been trading for a while but just considered such possibility, I have a productive PC maybe it's time not to play PC games but start using it in a better way :)

Hi, yeah, altcoin mining is a possible thing but you will hardly ever feel this mining results. There are now thousands of mining options. Mining on PC is just irrational

What options are there? You mean mining farms? Or what?

true what you said, and now most of what happens is panic sell where when prices continue to fall coin holders agan in a hurry to sell it so as not to experience more losses, once I was so but now it has changed and no longer want to rush in make decisions.

No, not mining farms, bro. It's an outdated one, now mining community uses asic rigs to achieve instant results.

Asic? As I see it's something about special devices developed specially for mining, yeah?

Sure, moreover, if you are interested in this sphere, I can give you some useful links. So you can decide if you want to start or not

Yeah, please, I would be pleased. I am interested as this is something like a passive income. I am interested in such income

I see, I have ordered all my rigs on asicequipment com. They have plenty of devices represented and timely clearances as well

Yeah, I see. Prices are high, how long does one miner take to payback?

In my experience, based on what I have ordered on asicequipment it takes on average half a year depending on what number of devices you order, the more the quicker

Cryptocurrency is risky to invest here with money you don't care and then you can make money thx for your advice

panic sell is the most common, even I often so, what you said is true, I totally agree. from that all the most important in my opinion is the belief and commitment to an investment and where the investment we choose. investing in crypto is very risky but the risk is worth the benefits we will get.

I totally agree with you on this post. Nothing is more disastrous than any of the things highlighted here. There is no beauty in trading if it goes down like this. One will soon be left with regrets at the end of the day wishing some decisions were not made out of panic or fear of the unknown

I agree with you. These are the common mistakes that one traders does while trading. Even it can be avoided by remain patient, by following proper money management, control greediness and always trust your own analysis

Nothing in life seems easy but crypto is the sure way of becoming rich. Those that still doubt crypto will lick their wounds later. Only ‘fools’ make the millions and the billions in life, ‘wise’ men don’t. They are historians and analysts that earn them the paralysis of analysis, hence they are POOR (Passing Over Opportunities Repeatedly). Crypto is all about hodling while your deal mature

I agree with your opinion in this thread, because many people like gamblers are not traders, they do a trade not in accordance with capital management, and so many people have to lose their assets because of opening panic sell / panic buy at a certain price, they should be more patient in order to get a profit, because to be success requires a lot of patience.

the statement that you say is true in this case most beginners panic and then sell losses and a gambler may not always be able to trade and vice versa. and the third point I strongly agree that only our own portfolio can manage it, because we are the holders of assets that will determine when to sell and stop to reduce risk.

yeah, i also agree with it.
to become a trader we must avoid all of these things, and to succeed in crypto we really have a lot to learn to assess risk or know when to do stop loss but not because we feel panicked.

and you also say the right thing, to be successful in trade we must have a lot of patience. if we don't have it, it will make us lose more of our money in just time.

The explanation was very simple and at the same time, it's enough for people to understand what those points are. And just to add, it's also important for you to be in the know of what's happening in the crypto scene. Reading blockchain news (https://www.coincurb.com/?utm_source=lx) to tell you the current updates that can affect the coin prices such as the Craig Wright case, or adoption by certain countries/companies will help you when to expect a rise or a drop.

actually panic when low prices make sense because not all traders can control their patience, often losing money quickly when traders are impatient and do not control their emotions when prices fall. but I think an old trader will know how to make a profit in the trading industry ..

not always news can help you to understand which direction the price will move. as a rule, now initially the price goes down or up and the next day we see news

Panic buying is as a result of FOMO which definitely results to panic selling when market trend starts to change. All this is as a result of lack of proper trade planning. Thanks for sharing.

News trading is a great option to make money with speculating the next bar side on the price charts. Buy low sell high principle also respected with the idea of take rumor and  give the fact. Rumor based trading is profitable than holding the small altcoins for a months. The personal preference should be the same as the trading method comes by experiencing the news trading.

The first point is the most important one, and almost everyone who had commented on this thread might have done that at least once in their life (not necessarily with cryptocurrencies). Maintaining clear profit booking and stop loss targets can eliminate this. Ever since I started to place profit booking/stop loss targets, I have never suffered from heavy losses with any of the cryptocurrencies.

yep I think people who are always panicked and doubtful of the coins they have will eventually go bankrupt because they will always be scared when the price goes down then they will sell and then buy another coin and then the price will go down again and sell again until they suffer losses then stop and eventually they will blame the market

to prepare as follows of use with returns on release as developer works on anchoring and gains with strength on confirmation to put of one on option as opening new position with the table of market on exchange.

It is very important to avoid making these costly mistakes, to make the best profit in cryptocurrency investment. I try as much to avoid panic buying and selling, I also only invest my spare money not excessively.

The main thing that needs to be done is to first draw up a strategy and plan, and act exclusively on it, for all your transactions. If a controversial situation arises and you have a bad desire to do something not thought out immediately, look into your plan and then make any decisions, because during disputed situations, the brain turns off.

Panic Buy / Panic sell.  This is the case where I think anyone new to the market will receive it.  I used to be like this and I was so regretful when I sold BTC in early 2017, until BTC reached $ 20k.  I think you should not distract your emotions but believe what you think.  Since then I have learned to be more patient when the market is volatile.

Well left to me own opinion, the first is investing in altcoin with no potential and investing big, the second is investing all you saving without a backup of proper spreading of funds to Favour future plans and finally depending on what others say without proper personal investigation/ research

Excellent!!! Panic buy and sell has done a lot of damages to my capital in my early days of trading. Any trader that wanna be successful in this space really needs to run from Panic trading

Lack of risk management is another one. Also lack of trade strategy. To be successful here, one must Imbibe risk management skills to safeguard capital also a trade strategy is important to show and entry and exit points not to jump in and out of the market.

Panic is the worst thing that so many people are exposed to. Even it would seem, in a situation that was seemingly simple at first glance, people who were subjected to panic would do unthinkable things that they would never have done in a calm environment. Self-control is a very important thing for working with cryptocurrency. You can’t follow the herd instinct where everything is there and I, this is a losing situation in such a case.

Panic sell is much worse than Panic buy, if you think about the long term.
Who cares if you buy Bitcoin for $10k or $8k whne the possible target is above $500k?  :D

The number of those who panic buy and panic sell seem to have reduced. It's rare to find so many coins pump unnecessarily and for a coin to dump, it means that some people are manipulating it, which is also applicable to when it dumps. However, it is true that it is still prevailing, although newbies are the ones that fall, the victim of it, most times. For someone who has been in the crypto space for quite some time now, my have learnt and known how to manage his assets by trying not to buy at a too high price and to wait when the time is right before buying.

Not Your Keys, Not Your Coins
(be careful leaving your coins on exchanges,
many exchanges have been hacked or have died or shut down)

not everything you say is true ... that under certain conditions Panic Sell / Panic Buy can give us a big advantage ... because the price of cryptocurency is fluctuating ... so it is very difficult for us to know when the right time to buy and when the right time to sell ... then I think Panic Sell / Panic Buy is also needed in crypto ..

Are you sure that, Panic sell/ Panic buy can give us a big advantage? Unfortunately, l don't think so it can let you very badly and indeed it is up to us, what we are doing. As you mentioned, cryptocurrency is changeable, but it doesn't mean we must decide very quickly. Overall l find it unnecessary when we decide under emotions. After this event, we will start complaining, instead of this l prefer be patient and think healthy.

You can limit yourself to one thing: not to listen to the advice of people you don’t know. Since there is nothing difficult in giving advice. Instead of wasting time looking for diamonds among a bunch of spam, spend it profitably - start by studying crypto material yourself. Form a framework basic knowledge about the crypto, and then it will be easier.

Nice and perfect summary. The first has really dealt with many people as they failed to understand there are things to consider before taking part in any. Another point I would like to add is that many people are trapped or bag holders owing to their dependence on so called experts who will tell them what to buy, when to buy but will never tell them when to sell as it is all based on hype. Lastly, joining pump and dump groups has done more harm than good, we should learn to trade the right way.

Three mistakes discussed by the OP are often made by new traders, who do not understand the cryptocurrency ecosystem well. In addition, the ability and experience of conducting analysis (fundamental and technical) that is lacking make traders or investors easily influenced by rumours and incorrect signals. Cryptocurrency is risky, but it can be avoided and reduced by increasing analytical skills and experience.

Thanks for your list! However, there’s always a small “but” in every rule and we should remember that. Context matters a lot.

Great, these are the 3 most basic requirements for traders. If we do not comply with these requirements, we will surely lose money and never make a profit

if we talk about bitcoin, then you are right, but in the case of altcoins, a panic but is as bad as a panic sale, because you can stay with the coin which you bought for a long time

Nice summary you got there buddy and I like it. They choose crypto because they want to be rich so easily. Always believe in your due diligence and dont get affected by hype from shillers coming from twitter and youtube. And I absolutely agree, cryptocurrency is very wide and its not all about trading. You can stake or run some masternodes to gain money from it.

This is good and certainly the major reasons which has dealt with investors, users or traders in various ways. However, I think capital management should be the first as it goes a long way to determine the success rate of the person in question through determining the amount he trades with etc. Also, most people lacks the knowledge needed for trading, thus allowing FOMO to get hold of them which of course leads them into many issues of which buying at the wrong time is one. From all these as well as those stated by you it points to lack of adequate knowledge of the activities within this space.

But in many cases we often invest in a coin which do not have any good developers and do not have much support from them for the project and the developers do not care for the investors and the users so that coin only drops and cannot see a good price so in this coin the investors will be panic any time and selling that coin any time is good if he decide to shift to a good a high potential coin. One of the mistake people are doing nowadays that they know that in the coming few months there will be halving and still they do not hold longer, they have to wait to see the price of bitcoin multiplying.

I think trying to know why there is a bullish run or dump in the market is the first step to take Know the reason behind the rise of a coin, if technology then maybe thats to stick and maybe if just pump and whale then enter carefully..The Most important thing is to take calculated risk

Yes, your summary is so perfect and detailed and I often see the errors you mentioned above especially 1 & 2 a lot of people make, I used to be like "panic buying and selling panic "Because I am not patient enough and confident enough to follow the market and make an accurate choice. So watch the market closely, be more careful in every trade and try to manage your capital well.

that way you have valuable experience that you can later use as a trip to become better the next day. All of this starts from experience, if Panic Cell is a natural thing for beginners, due to lack of knowledge.
as we know that the market is very sensitive to bad news, so before investing or trading must be careful and important you can manage your financial management properly.

The first paragraph is fundamental. If a crypto enthusiast learns to control his emotions, then the degree of influence of general panic on him or susceptibility to the opinions of other people (who offer to invest somewhere) will be minimized.

This is very right, most times once people see people talking about a coin, they rush to buy even without doing research, they really do not want to miss out, or once a coin is dipping, they sell out of fear without relying on the trust that made them to buy it.
Like you also said, trading without stop loss is very dangerous, if we can cut off these, then it will be a way forward.

These are some of the mistakes that affect almost all classes of traders. The reason is Emotions often play a huge part in the decisions that we make as traders. Only a few people have been fortunate enough to master the art of controlling their emotions when it comes to trading. This entirely is up to the traders, the faster you can take control, the better it becomes.

On the days where I decided not to panic buy, I watched coins moon further and further away. On the days I decide not to panic sell, I lost money with severe dips. Cryptocurrency is not for the faint-hearted. You can be an expert but all it takes is one or two whales to make a big money decision and all your near perfect calculations will be flushed down the toilet.

A signal isn't really a perfect way to excel in this market.
Many of them seems to be made up and not really valid due to the market's condition.
They are more of a personal opinion of just another trader.

I am so guilty of the first one. I panic so much to sell my token once i discover a small dump and this has made me to loose so much money because i end up selling those token below my buy price.  I really wish i can mnage my emotion while trading it will help me a lot and in turn mininize my loss margin