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I learned this from our great mentor in stock trading and he said that losing is part of trading. Veteran traders also lose but they know how to cut or manage losses. Our mentor said that 2-3% loss is the best to sell before the price goes down deeper and its the safest strategy. That is why I apply and it's really working.
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Really it will become just like gambling, addictive and manipulative, it's very much like poker only if you are an expert you can accomplish something
This is also a remind for myself, sometime I would like to trade again but I remember the bad experiences I had with it and stop
It's not a bad experience if only you don't used huge money to buy those digital assets and thinking it was easy to profit. For newbies, you should start with an amount that is like an extra money for you and then if you loss, you will think that you've learned a lot with those experiences instead of thinking of your losses . |
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I have read so many times where people keep saying that "all time is good for investment".
Personally, I disagree with that statement, and I believe when you look at it from my prism you will also agree with me.
Take a look at this scenario and judge for yourself.
Mr March is a newbie in cryptosphere and he has $2000 he would want to invest in Cryptocurrency.
He also plan using the $2000 to sort out some financial needs in a months time.
After going through his friends suggestion regarding the coin he should invest on.....he went for April coin.
On checking the market price of April coin, it was discovered that the price is at it's all time high.
The coin was $3 before but $10 now.
Considering he only want to do a month investment.
Will it then be wise to ask him to buy the coin at the present price or wait for the price to fall ?
Do you still believe that all time is good for investment?
Thank you.
Never buy a coin when it's on its all time high. I made that many mistakes before I finally learned. Never chase that hyped coin and if you really like the coin then wait for it to go down or fluctuate and then analyze the price that it's safe to finally buy. |
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Hey guys!
Just interested if you still earn any money? The situation is so horrible that it's interesting to me if someone still feels good.
Maybe you mine or you continue to invest in something.
On the whole, how to survive now? Hold, trade, sell, invest, mine?
If someone still feels good? I'm sure that most of them who had watched Avengers: Infinity war would joke " I don't feel so good". But kidding aside, the most you can do is to buy and buy many altcoins as possible because they are terribly cheap. You can sell but those daytraders are doing it fulltime for 1-2% everyday gains and apply compounding. |
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There has been a lot of talk about the reversal of the market. Recently, we have seen some positive movement in the market, a few coins have pumped, but in general the market is still in bearish mood.
Exactly, those coins who you said have been pumped, are just like what it is, just pure pump and dump scheme. I would rather take advantage of the market though, instead of waiting for the reversal. We should take this golden opportunity to store and stack up crypto's in our wallet. You will just lose your mind looking for the bear market to end, lol. Agree. I still check some of the crypto veteran traders on twitter and based on what I saw, they are now making 3x-4x of profits right now because they have been in the accumulation stage for the past months so most of their bags are now free. I wish I bought all their picks but I was just like others who are waiting for the bear market cycle to end. |
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What was the amount with which you started trading
I mean your very basic investment and was that your extra money or required money?
I remember putting 50k satoshi on bittrex and I was really confused how to trade. I don't even know if I correctly did choose the right button for buying. I also mistaken that everything I put in order will be sold automatically. My purpose on that low amount is to familiarize trading and then the rest is history. |
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The crypto market is currently very unstable. I am easily affected, in panic selling conditions like now I sometimes sell bitcoin at a price lower than the purchase price. The result is a fatal loss.
So far, I have only relied on news information obtained from forums and social media and a little understanding of the foundation of price charts and market movements to make investment decisions in Bitcoin.
Then what is the way so that I can make a big profit ...?
How to effectively avoid unnecessary losses ...?
The main problem is already in your posts which is panic selling. If you can overcome panic selling and then continue to hold then that is where you can achieve huge profits. The law applies in to any investments like taking care if your business until it grows bigger and getting tempted to stop because you don't see quick returns immediately. |
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Because in trading, there are more losers than winners. Most of them are newbies that very reckless in buying their coins and only believe to a random guy that had convincing statements or rather tweets with supported technical analysis or some proof of his previous profits. And we know there are like 60%-80% of new traders do that for a few years before they really learn.
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Because that's where the good or veterans traders make the most money. It's just a psychology game where the weak sell when they see FUD while those that have strong minds will buy it and accumulate when things seem to look it is over when it really not. Just remember that when you panic sell, you are making rich people getting richer and richer.
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Some traders and investors think that when trading with crypto currency, one must be bold and confident and make quick decisions. Is excessive confidence in cryptocurrency trading better than doubt and fear, or is it a big drawback?
That excessive confidence should be backed up by news and progress and not just because you only want to feel that way in your coins. It's just like you are your own pump and dump group hyping it to everyone. If you are confident to your coin because it is a great project then that is good but if its a shitcoin then that ain't right and you should feel doubt and fear if you haven't profited or sold it yet. |
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the cryptocurrency evolution has changed my lifestyle. i am now an addict.
imagine my routine life daily:
Coinmarketcap.com
Binance.com /kucoin.com
coingecko.com
cryptocompare.com.
And finally, Airdrops and telegram group.
Please pray for me. I need serious deliverance.
Well,that ain't worse for me. Coinmarketcap became like a food for my daily life that I always check price every hour. But I think you should act accordingly based on the market. It's a bear market so you should have limited your exposure to crypto and most importantly those scammy airdrops. I only now check ICO review sites, cmc and exchanges once in a week. |
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Hi friends I have regret that i entered into trading too late if my head had known this trading field before only i could have started early only , and now i would be making profits by now , but now i am learning still because i started too late
Now i see many people start trading at very less age only if i see them i regret that why at that age i didn't start trading
Do you have regret like this ?
I do too. It's not also about trading early but knowing your mistakes as early as possible because I was on the right time when btc and altcoins exploded but I don't have that experience of when to control my emotions. I still did not know when it to sell because I was occupied by my greed in the bullmarket. |
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Recently, a lot of ICOs are getting hit by people dumping tokens below ICO price. Some attribute the cause to bounty hunters while others blame it on excess pre-sale bonus. Who do you think is responsible and how can this be prevented?
It is just basically how it's done. If I'm an investor that bought their token with 80% bonus in the ICO period then I see it get listed and has the normal ICO price then I easily make 4x of roi just by selling it right away. Some investors don't want to take risks and greed for more so that is why it gets dumped. |
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I believe that trading is beneficial in a healthy market especially in a bull run. The only risk you are experiencing in that moment is missing the profits of a coin that you were planning to buy or you already sold very early. But now, many traders are now only focusing in trading because I know that they admin to theirselves that it don't really work out in the past couple of months.
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I think a lot of traders have experienced losing last year but you can do something about it to change things. You can start again and sell all your coins and buy coins that you see that always fluctuating and it is traded actively. Remember that there are a lot of coins in the market and we only need to research and pick those as a temporary port to recover our losses.
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The market now gradually increasing and seems like good idea to gain quick profits in my opinion. What's your view guys? Is there a tends that it will constantly to rise after day or two or it will stop increasing again? And kindly suggest which is better way now "gaining quick profits or keep holding until the bottom of this pump?" )'cause im very confused now which is good strategy and i don't know what to do.
I would choose gaining quick profits for now. I will wait first for the Facebook's coin to be released and see how it goes. If people accepted and it became very successful and it lifted the crypto space as well then that is the perfect time I will start doing the HODL. But I know that it will because after the data breach, users of fb has no choice but to still use it because it became part of their daily lives. |
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I'm hoping that it will happen by the end of this year or the first quarter of 2020. I said that because everything is starting to favor the tech again and not just by some companies anywhere but globally-known companies. Whatever they do will always spread and other companies will know that and will also take a look at the tech and it's only a matter of time before blockchain is already dominating the financial world.
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Panic selling is always the worse. You are not doing any better if you still feel that urge where you think it's going to die so you better act fast and sell it before anyone does. Postponing from trading is just like doing HODL, less stress and the odds of getting multiple profits gets higher as time goes by.
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What are some examples of when emotions mess up your trades?
There are a lot of them. My own experience is when I should've sold my shitcoins when it was gaining more than 30% in one day but I waited for it to spike more but then it dropped. And then another one is when I think that altcoins that are priced 1 satoshi is easy to make money but I always get stuck in the hype and I bought it in 2-4 sats but I never did check its total supply. |
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