Fair enough if you believe that you have learned from the mistakes of others, yet it remains questionable if you have gotten the correct lesson out of the deal.
If there's no experience of the mistake, then I doubt what the perceived lesson would be, other than the hesitation of not doing what is perceived as a mistake.
Sure there is value in experiencing our own mistakes, yet we do not have to experience all mistakes in order to learn from the mistakes of others or even to learn that there are better courses of actions when we get down to thinking through what we are going to do.
To some degree, we can learn from others in trading, but the market will never move as it has.
Sure, it can repeat the pattern (but it isn't guaranteed).
People who profit from recognizing specific patterns keep doing it until they decide to share it, and more people become aware of it, and it becomes a competition.
A newbie trader will definitely not be able to recognize these patterns but will need years of learning.
Most of my trades were automated, and the movement of certain altcoins was specific (repeating the patterns I discovered). I don't know if they still repeat.
Now, if I may, I want to include some off-trading examples:
1. Some learning Scubadive in a very short period, whereas for others, it takes over 15 hours (Even if you show the latter one the mistakes of the previous one, there will still be inevitable mistakes) - Like improper breathing, Unexpected encounters while diving (The situations will be specific to every individual, same as experience) - Sure expertise can be shared, and learned from but will you still face that particular situation, sure -not repeat the previous mistake.
Still, what are the odds of new situations not being raised? This is a constant fact everywhere in life.
2. We love animals (I hope we're in line with this)
Can you get close to lions, pet them like some people do (These people are from Wild Reserve mostly), and get close to crocodiles? No matter how much you teach someone not to be afraid (It will still be there), a moment of hesitation and fear it's over when it's done without safety... /- there will be no hesitation by the animal.
I've been at events where I could've died. I had accidents, but they don't take place anymore, and I don't know if they will ever. (All were unique)
What is a unique situation to me at some place might not be for someone else, and even if these events take place for someone else, then what are the odds they will handle it exactly as I did?
No matter what, we should be attempting to tailor our bitcoin investment actions to our own circumstances, and surely it can take a bit of time to build up a bitcoin investment and then to perhaps learn as we go, which might also cause us to change our minds from time to time.
There are quite a few of the longer term bitcoiners in this thread who changed their bitcoin investment plans through the years, and they even evolved into becoming more investors rather than traders.. since many of us have really personally experienced the value of both erroring on the side of buying and holding, but also not selling too much of our bitcoin too soon.
Since bitcoin is so volatile, it can be quite difficult to not get lured into some attempts to try to trade, yet I think that guys who concentrated on building their bitcoin investment over one or two cycles have tended to get to a point in which they have enough BTC or more than enough BTC, as compared with some guys who end up selling too much too soon within a cycle or maybe even they might sell too much too soon, and they are barely into their second cycle, which may well might not have had been enough time for bitcoin's value to sufficiently compound upon itself.
But yeah, guys have to figure out their balance, and this thread can serve as a way to bounce around ideas, even to frame some of our concerns in the framework of hypotheticals.
Yes, everyone has to learn on their own about bitcoin investment, there are many resources, and dwelling on all of them isn't a good, I think starting from somewhere who's had a good experience of it then applying what's learned (You might make mistakes, and there are resources where people who've also made these mistakes share solutions and possibly potential similar mistakes, that a newbie might fall int) - But knowing about mistakes first then learning?, That'd be a bad approach.
Volatility is seen as a potential for quick profits despite uncertain marketing. People want to take risks to make a quick buck.
Most people who do that are new to the market and lose money quickly, then complain about how it is being rigged and compare it with gambling (It is gambling when you do it without doing proper research), but that doesn't mean you should be spreading the propaganda 'of it purely being gambling'.
Now we have leverage, and these people use leverage over this market despite being new... /-
Even experienced traders rarely utilize leverage over 5-10(x).
Since you are new to the forum (only a few days) and to the thread, we might assume that you are also new to bitcoin, even though we know that some forum members had gotten exposure to bitcoin investing (buying/accumulating) prior to their registration date.
I know about Bitcoin post-2012. However, Bitcoin wasn't the first cryptocurrency I learned about to be in the crypto space.
Poll
