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Author Topic: Why Do I Always Lose Money on BTC!  (Read 3886 times)
olubams
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October 15, 2017, 07:34:48 PM
 #81

OVER 5300 already. I bought at 4400 and sold at 2900 within the past 60 days! What the hell. I will never figure out these markets. What are the secrets to MAKING $$$ off this currency not just losing it all Sad Thx all

Like in my earlier posts when it comes to trading, timing is everything is timing. Its the deciding factor in those who will win and those who will lose and the most difficult time to sell is when you are under the fear of trying to cut your losses. Decisions made under those conditions are some of the worst which anyone who wants to make  money in trading should first settle with himself or herself even before delving into bitcoin or anything related to it.
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October 15, 2017, 10:47:28 PM
 #82

to be winner in BTC it's simple with 2 rules:
1) Have a good capital to support the reverse of price
2) Wait the price till be down and take it from a good point

Result: Good profit

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October 16, 2017, 05:59:24 AM
 #83

"What are the secrets to MAKING $$$ off this currency not just losing it all Sad"

Firstly, you lost money because you SOLD. Why did you even sold for a significantly lower price in the first place? I'm pretty sure you knew that if you sold you would lose money, and you did. You were totally impatient and you were greedy for profits so you impulse sold thinking you could get in at a lower price. Holding for 60 days is NOTHING. Be patient, don't blame your losses on the markets.
What bothers me is why some don’t even ask questions if they have no idea what to do rather than rushing to make some decisions on their own. When they then make the mistake is when they find the forum useful.

That is the essence of this forum in the first place. So many posts from 2009 to read from which are not just there for fun but to learn from experience and mistakes of others. I hope not just the OP but any other newbie will learn this lesson before making the same mistake the OP has made.


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October 16, 2017, 07:02:05 AM
 #84

OVER 5300 already. I bought at 4400 and sold at 2900 within the past 60 days! What the hell. I will never figure out these markets. What are the secrets to MAKING $$$ off this currency not just losing it all Sad Thx all

Just a little advice to you. If you don't have enough knowledge about something don't invest a big money, just take some time to study first especially about bitcoin before you do a move. I think you're do a wrong move that's why you lost your money.

Well maybe, OP panicked that time that's why he lose that money.
This is a common mistakes by others when their emotions took over them, to buy in high and sell low. I hope OP learned his mistake now and never do that again. Always bear in mind that just sell when you at least profited and don't panic because you're holding bitcoin that it will never give you a bad profit, well of course it's all up to the person, but bitcoin never does.

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October 16, 2017, 07:16:02 AM
 #85

Bitcoin is something you should only trade in small percentages of what you have, and if you don't have much of it, it's better not even trade. You probably will not find something better that is capable of outperforming the stock market itself, so learn your lesson and have a long term thinking.
It takes a junior member who really done some research before buying into bitcoin not to get emotional really. Most of them got that notion that bitcoin's price was less than a dollar when it all started and now it is huge and they just imagined there has never been some ups and downs in between, believing once they buy, it just keeps going up and then the bear comes running and they panic! Only to realize the bull is just close by to save them.

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October 16, 2017, 07:22:57 AM
 #86

Some people do take trading damn serious and lose their health because trading requires a lot of hard work especially if you are a day trader. I believe to trade once or twice in a month and that too without taking too much stress. Don’t just ignore it completely but at least don’t be over obsessed.Trading is a full time job and you really need to stay calm if you want to improve your performance in trading.
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October 16, 2017, 07:28:51 AM
 #87

OVER 5300 already. I bought at 4400 and sold at 2900 within the past 60 days! What the hell. I will never figure out these markets. What are the secrets to MAKING $$$ off this currency not just losing it all Sad Thx all
It's funny to think when people buy a cryptocurrency at high price and eventually sell it when they find its price falling. Cryptocurrencies are known to be volatile, and there are times that it will be like that. My question to you is: WHY DID YOU EVEN BOTHER TO BUY BITCOIN WHEN IT IS ON ITS HIGH PRICE? Investing in cryptocurrencies, especially in bitcoin, is a long-term commitment. It's not "buy now, sell now" thing. It's an INVESTMENT, and there's no quick, fast, or instant money in investments. Don't consider bitcoin or cryptocurrency as a shortcut for banks where you put your money and earn from profit anually, semi-anually, or quarterly.

The best thing you should do now to at least recover some (if not all) of your losses in bitcoin is to invest in altcoins. Litecoins and Ripples are great choices for altcoin investment since their values today are low, and these two have high potential to rise up again once the forking is done. There's still a lot of altcoins in the market that you can choose, and it's up to you which one you'll buy.

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October 16, 2017, 07:44:49 AM
 #88

OVER 5300 already. I bought at 4400 and sold at 2900 within the past 60 days! What the hell. I will never figure out these markets. What are the secrets to MAKING $$$ off this currency not just losing it all Sad Thx all

The magic words: "The trend is your friend."

Markets tend to shake out weak hands before major rallies. It's what Wyckoff called "the spring." Example: Basically, the whole market expects a rally. But then momentum drops -- and maybe some bad news helps the market to sell off (like "China bans Bitcoin!"). After the dust settles major volume has been exchanged, all the bears are trapped: all those who sold on the way down (and especially at the bottom) provide the fuel for the next leg up.

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pinkman12345
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October 16, 2017, 07:46:46 AM
 #89

to be winner in BTC it's simple with 2 rules:
1) Have a good capital to support the reverse of price
2) Wait the price till be down and take it from a good point

Result: Good profit
Your 2nd rule seems quite dodgy, I have seen it for ample  amount of time when there is further a dip in market from where you expected to rise so trading is a unpredictable job, someone wins and someone loses.

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October 16, 2017, 06:44:33 PM
 #90

Don't panic sell. Don't buy high. Don't sell low. I mean this all seems pretty obvious. Why would you buy at 4400 then sell at the low point? Someone our there is very happy with your decision, but that's just how the market works. People panic and the smart ones take advantage.
Pretty obvious indeed. Sorry to say, but I feel even common sense should make someone realize that fact. The main reason why bitcoin has gotten to this stage today is as a result of the strong hands that keeps holding knowing the best is still on its way. If everybody had been having such hands, bitcoin would have still been maybe $1 or even less.

It is necessary to understand the value, the concept and the technology and everything that it comes with so as to know that it is a new technology that is going to make a huge wave and being a part now is like making your dream future come true but not without some little hiccups along the line.

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October 17, 2017, 06:55:26 AM
 #91

OVER 5300 already. I bought at 4400 and sold at 2900 within the past 60 days! What the hell. I will never figure out these markets. What are the secrets to MAKING $$$ off this currency not just losing it all Sad Thx all
Dude how can you behave in such an immature manner. Like people should atleast have common sense while investing in btc or anything. You are the dumbest person I have seen in this forum and you want an answer to your mistakes?
This is something annoying. People don't have trust over it and lacks in understanding about the growth. This is the reason for such a selling on panic. Another person who who bought around $4600 is now making a big profit as the price has moved above $4600. Here holding is the best and the key factor.
Holding is no doubt the best thing and is far better thing to do than that of panic selling. Panic selling can give you nothing but only a huge loss. So, if you want this thing not to happen in the future then you have to learn from your past mistakes. Otherwise, you are going to lose your money in the future as well. Think and decide very much carefully before doing anything.

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October 17, 2017, 05:45:46 PM
 #92

That is very sad for you. You need to be strong when you see your coin dropping especially if it BTC because chances are it will go back up again (and it did)
Yes but it think it is not good to stop the use of the bitcoin because the bitcoin is having a lot of the opportunities for the buyers and the bitcoin is increasing more and more for the name of eh country and the bitcoin is increasing the wealth so I think it is good to hold the bitcoin and then buy the other coin with the help of the bitcoin so for me the best ever thing is the bitcoin and the investing in thebitcoin.

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October 17, 2017, 06:19:20 PM
 #93

To be fair, current situation is very different and difficult for all triders, that's what I think, personally I can't understand what to do now but in past I could get profit. Now price changes by 10% in one day, sometimes it rises and sometimes it falls. The panic caused drop to 3000$ but then it rised and why? In some days panic start again and of course we saw rise.
Look it as a bad time for trading really, try it when there won't be reasons of panic and price will become a little stable.

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bitbunnny
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October 17, 2017, 06:25:59 PM
 #94

You are probably making the wrong decisions. Maybe you just react too fast and too emotionaly on every price dump and then you lose money. Panic selling is the worst thing you can do and Unfortunately we see that very often. That is very often a problem if you don't have enough experience and knowledge. The other thing is that you maybe invest more than you can afford to lose and that is dangerous. Put all this factors together and reconsider your decisions.

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shadyrifles
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October 17, 2017, 07:49:47 PM
 #95

It's really shocking to hear someone bought BTC $4400 and sold at $2900, You will never lose your investment if you follow the #1 rule of Crypto investing HODL.. Smiley

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Cherrygonegreen
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October 17, 2017, 08:06:23 PM
 #96

BTC is a long term investment. Never sale off your coin due to panic. No matter what hold it.
osasshem
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October 17, 2017, 08:17:58 PM
 #97

OVER 5300 already. I bought at 4400 and sold at 2900 within the past 60 days! What the hell. I will never figure out these markets. What are the secrets to MAKING $$$ off this currency not just losing it all Sad Thx all

Your trading pattern is not helping, the first rule of trading I normally come across is BUY LOW AND SELL HIGH, to make your profit, but here, you bought high and sold at a low price, which made you lost your capital. Try reading trading article to help you.

catfishftw
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October 17, 2017, 08:20:58 PM
 #98

OVER 5300 already. I bought at 4400 and sold at 2900 within the past 60 days! What the hell. I will never figure out these markets. What are the secrets to MAKING $$$ off this currency not just losing it all Sad Thx all

My god! I was shocked at the way you handle your bitcoin investment. That is very disappointing. Do you not trust bitcoin? Do you not trust your investment? Did you just join the bandwagon without much thinking and studying about it? This I tell you, mate. Despite the ups and downs of bitcoin, it will rise and rise in the end. I can see your emotions playing your decisions. Never sell bitcoins with losses. It is very frustrating to hear.   
Do you trust other coins besides Bitcoin? I am interested. I have had a similar experience,but I recovered my loss. I am going back trading again, and need some tips aswell.

Trusting your investments is the key.
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October 17, 2017, 08:49:48 PM
 #99

It's really shocking to hear someone bought BTC $4400 and sold at $2900, You will never lose your investment if you follow the #1 rule of Crypto investing HODL.. Smiley
Sometimes people gonna panic so much as they couldn't maintain their strength over holding, they eventually manipulated unpredictable markets. Here, note that, crypts trading is all about depends on HOLD.

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October 17, 2017, 08:59:28 PM
 #100

OVER 5300 already. I bought at 4400 and sold at 2900 within the past 60 days! What the hell. I will never figure out these markets. What are the secrets to MAKING $$$ off this currency not just losing it all Sad Thx all

Are you rich enough to do that? In my daily trades I'm not going to let myself sell lower than the price that I bought bitcoin.You bought at $4,400 and sell it at $2,900 what type of trader you are? I did the same mistake before but the difference of your selling order is really far from your bought price of bitcoin. Always remember that you should sell at higher price and will always buy when the price is lower. Don't forget that and bare to your mind that you are trading for the profit not for letting the exchange earn from you.

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