Please help a newbie who do A LOT of mistakes

[Play0r]

Hello,

Fist post here from a big newbie who started crypto at the end of December and only do mistake after mistake.

Mistake #1, I bought €400 of BCH at 3418$ during the CB "hack" back in December, hold till then. This was a extraordinary non sense action.

Mistake #2, yesterday I PANIC sold all my 253 XRP that I purchased at high prices such as €1.9 €2.1, 2.6€ for €552 (profit about €50) during the drop and CB ending the fake speculations. I was better to just go sleep, it already recovered a bit and I guess it will go higher in long therm.

Current portfolio at time of writing:
- 0.4 XMR at €305 (about €100 green)
- 7.6 EOS at €7 (about €100 green) 
- 0.15 BCH at 3418$  and 0.035 at €2286 (about €360 red)
- 30 XRP  at €2.45 (about €70 red)
- Available funds on account: €930.

After all, I am starting thinking that crypto isn't for me, I don't have the hindsight, the psycho neither the nerve to do it correctly and hold for long therm.  Some people tell me to buy again XRP. Other people tell me to only buy BCH and XMR which have use cases, all the other money are just good to purchase Pokemon cards, they are so many ALT and at the end only MS, Google and Apple will stay... Here on this forum, the users seems to have a divided opinion on XRP. I also read about Waves, NEO, ETP, ENG.. Now I see that bitcoin bounce and seem to affect a lot of things. As a very bad newbie I have a hard time to forge my own opinion and stay on my positions. 

I am not sure if this is a legitimate request: I am looking into advise to make a long therm portfolio with the remaining of my funds to possibly recover from my mess and stay a bit more relaxed. Note: I know that this money could be potentially lost in any case as there is always a risk.

Thanks,

[1715165920]

1715165920

[JoyofCrypto]

The biggest mistake new people make is buying the top and selling lower. You need to buy when prices are red, don't chase the pumps, it might work out for you once or twice but in the long run you will get burnt by doing so. And also spend the time researching coins. The biggest profits are in those coins that most people have never heard about YET.

[Cryptornado]

If you want to have a reliable long term portfolio, you should treat it "long-term":
- Choose wisely.
- Ignore short-term loss.
- Read news but don’t follow the herd.
- Don’t be greedy, take profit and set stop loss limit.

[CryptosapienZA]

Hello,

Fist post here from a big newbie who started crypto at the end of December and only do mistake after mistake.

Mistake #1, I bought €400 of BCH at 3418$ during the CB "hack" back in December, hold till then. This was a extraordinary non sense action.

Mistake #2, yesterday I PANIC sold all my 253 XRP that I purchased at high prices such as €1.9 €2.1, 2.6€ for €552 (profit about €50) during the drop and CB ending the fake speculations. I was better to just go sleep, it already recovered a bit and I guess it will go higher in long therm.

Current portfolio at time of writing:
- 0.4 XMR at €305 (about €100 green)
- 7.6 EOS at €7 (about €100 green) 
- 0.15 BCH at 3418$  and 0.035 at €2286 (about €360 red)
- 30 XRP  at €2.45 (about €70 red)
- Available funds on account: €930.

After all, I am starting thinking that crypto isn't for me, I don't have the hindsight, the psycho neither the nerve to do it correctly and hold for long therm.  Some people tell me to buy again XRP. Other people tell me to only buy BCH and XMR which have use cases, all the other money are just good to purchase Pokemon cards, they are so many ALT and at the end only MS, Google and Apple will stay... Here on this forum, the users seems to have a divided opinion on XRP. I also read about Waves, NEO, ETP, ENG.. Now I see that bitcoin bounce and seem to affect a lot of things. As a very bad newbie I have a hard time to forge my own opinion and stay on my positions. 

I am not sure if this is a legitimate request: I am looking into advise to make a long therm portfolio with the remaining of my funds to possibly recover from my mess and stay a bit more relaxed. Note: I know that this money could be potentially lost in any case as there is always a risk.

Thanks,

Your biggest mistake is trying to outsmart the market. You never will. Just be patient. Just buy and hold. Do not be buying and selling your crypto. Back in Aug I bought $1000 work of crypto. A week later there was a big altcoin dump that i ended up with $400 value. I didnt sell anything, i hodled. Today that same portfolio has grown 5x. When you buy crypto, dont buy with money you will need next month. Buy it with money you are willing t lock it long term. Right now all coins are more likely to give you profits, including BCH. Stop having weak hand.

[secondgarlic]

You have to stop checking prices every second, otherwise you will go crazy. Read up, buy some coins which appear to be logical buys, and just HOLD. Do nothing, don't try to day trade, don't try to outsmart the market. Never panic buy and never panic sell. Up until now, every major coin has bounced back from drops, so unless you have invested in absolutely useless coins (which, based on your portfolio, you haven't), just be patient and don't panic, even if your numbers are red right now.

[DanWalker]

Dude, it's the only beginning. You earn a lot of experience with your mistakes. To make your decisions more deliberate you need to study trading. It's a serious thing that requires a lot of effort. Try to find an experienced and succeed guy who will teach you.

[rudolfaxl]

Just get away from trading! It's not easy thing as many people think. At this market you can just use BUY&HOLD strategy to get profit

[leavolnhals]

Hello,

Fist post here from a big newbie who started crypto at the end of December and only do mistake after mistake.

Mistake #1, I bought €400 of BCH at 3418$ during the CB "hack" back in December, hold till then. This was a extraordinary non sense action.

Mistake #2, yesterday I PANIC sold all my 253 XRP that I purchased at high prices such as €1.9 €2.1, 2.6€ for €552 (profit about €50) during the drop and CB ending the fake speculations. I was better to just go sleep, it already recovered a bit and I guess it will go higher in long therm.

Current portfolio at time of writing:
- 0.4 XMR at €305 (about €100 green)
- 7.6 EOS at €7 (about €100 green) 
- 0.15 BCH at 3418$  and 0.035 at €2286 (about €360 red)
- 30 XRP  at €2.45 (about €70 red)
- Available funds on account: €930.

After all, I am starting thinking that crypto isn't for me, I don't have the hindsight, the psycho neither the nerve to do it correctly and hold for long therm.  Some people tell me to buy again XRP. Other people tell me to only buy BCH and XMR which have use cases, all the other money are just good to purchase Pokemon cards, they are so many ALT and at the end only MS, Google and Apple will stay... Here on this forum, the users seems to have a divided opinion on XRP. I also read about Waves, NEO, ETP, ENG.. Now I see that bitcoin bounce and seem to affect a lot of things. As a very bad newbie I have a hard time to forge my own opinion and stay on my positions. 

I am not sure if this is a legitimate request: I am looking into advise to make a long therm portfolio with the remaining of my funds to possibly recover from my mess and stay a bit more relaxed. Note: I know that this money could be potentially lost in any case as there is always a risk.

Thanks,

You have to be calm and make the right decision between buying and selling. You buy extremely high prices but sell at lower prices than the market. Therefore, I advise you not to focus on price increase or decrease. Do not be greedy without loss

[cherryscarlett]

A reasonable trading strategy makes it much more likely that you'll make money and not buy when you're going up. It's a constant truth.

[BitcoinHodler]

the only mistake that i see you making is buying altcoins that are already pumped like hell and then complaining about the money you lost after they got dumped.

and the funny thing is you actually make 10% (possibly more) profit on your investment based on the numbers you gave in your #2 from a coin that was already pumped and you are still complaining!

here is another mistake:

Other people tell me to only buy .....

you shouldn't even be asking others to tell you what to buy.

[macchiato]

This is the reason why I think newbies aren't for trading or investing. There are several things to learn first before plunging into things you don't know much yet. It is better to enter those kind of stuffs when you are well prepared to avoid mistakes and losses.

[qazgroup]

The best time to purchase any altcoin is during the accumulation phase, when you see a strong bullish trend do not fomo, the trend will reverse, then the prices will stabilise and find support at a point, that is the best time to purchase.

[zenhu]

Trust me, i know how that feel mate. But we need to fix your strategy first, we not buy more when the coin up ( i mean me, im not buy while its keep growing) we buy when it go down. And also join some telegram or discord group who talk about daily trading, at least youll learn something though and try not to do same mistakes

[ekolet]

Don't invest in hypecoins with 0 (ZERO) utility such as Ripple and IOTA. They are pure hype, nothing else.

[yolucky]

There is no formula for success but keep reading and learning from forums like this and chat groups eventually you learn to invest in sustainable projects which brings value to the cryptos.

[jimmywh]

As many people already point out, you need to consider yourself as an investor rather than a trader. Although you see a lot of people talking about cryptocurrency, it is still in its very beginning, and nowhere near mainstream yet. What you have to consider yourself at this moment, is a first mover. Once cryptocurrency goes mainstream, the money you already invested will be multiplied tens or hundredsfold. So invest what you have spare every month, and consider it a retirement fund.

[Swenna]

First and foremost, don't think too badly of your mistakes. It may cause you anguish and regret if you see your sold coins gaining larger price than the amount you sold it to, but don't worry, it is a good experience and you will learn from it. Even I, as a trader, I have also experienced the same thing. You should buy low and then sell it high. Also, if you were able to sell your coins, then you can buy the coins you lost using that, but buy them when their prices are red or at low so you can also gain a profit.

[PensacolaPI]

You have to stop checking prices every second, otherwise you will go crazy. Read up, buy some coins which appear to be logical buys, and just HOLD. Do nothing, don't try to day trade, don't try to outsmart the market. Never panic buy and never panic sell. Up until now, every major coin has bounced back from drops, so unless you have invested in absolutely useless coins (which, based on your portfolio, you haven't), just be patient and don't panic, even if your numbers are red right now.

Exactly, RESEARCH your investments and purchase based on same. Put in your wallet and forget about it. I just started recently and selected my investments based on reading a variety of sources. It's too easy to get caught up in the hype. No one can predict the market, if you are planning to day trade then you may lose your ass.
I invest based on real world applications that a given coin has the possibility of providing a solution to current issues in the business sector it affects.

[semobo]

Hello,

Fist post here from a big newbie who started crypto at the end of December and only do mistake after mistake.

Mistake #1, I bought €400 of BCH at 3418$ during the CB "hack" back in December, hold till then. This was a extraordinary non sense action.

Mistake #2, yesterday I PANIC sold all my 253 XRP that I purchased at high prices such as €1.9 €2.1, 2.6€ for €552 (profit about €50) during the drop and CB ending the fake speculations. I was better to just go sleep, it already recovered a bit and I guess it will go higher in long therm.

Current portfolio at time of writing:
- 0.4 XMR at €305 (about €100 green)
- 7.6 EOS at €7 (about €100 green) 
- 0.15 BCH at 3418$  and 0.035 at €2286 (about €360 red)
- 30 XRP  at €2.45 (about €70 red)
- Available funds on account: €930.

After all, I am starting thinking that crypto isn't for me, I don't have the hindsight, the psycho neither the nerve to do it correctly and hold for long therm.  Some people tell me to buy again XRP. Other people tell me to only buy BCH and XMR which have use cases, all the other money are just good to purchase Pokemon cards, they are so many ALT and at the end only MS, Google and Apple will stay... Here on this forum, the users seems to have a divided opinion on XRP. I also read about Waves, NEO, ETP, ENG.. Now I see that bitcoin bounce and seem to affect a lot of things. As a very bad newbie I have a hard time to forge my own opinion and stay on my positions. 

I am not sure if this is a legitimate request: I am looking into advise to make a long therm portfolio with the remaining of my funds to possibly recover from my mess and stay a bit more relaxed. Note: I know that this money could be potentially lost in any case as there is always a risk.

Thanks,

In crypto trading you need much patience and never get panic if your coin is dumping sure it will bump in the future so never sell your coins for losses.
And you must add some potential coins like bitcoin, ethereum and litecoin to reduce the risk of losing our investment.If you only invest on coins with too price volatile then you may fall again.And first of all you need to understand that you have to only invest money that you can afford to lose because crypto investment is riskier.

[wanderloy]

It's very difficult to become skilled and expert with cryptocurrency if you don't learn from your own mistakes and there's a lot of experiences to get, some are lucky and some will succeed but most of them get stuck on what to do when they have limited option or they don't know what to do.
I would like to say, learn from your own experience and own Mistakes because you will never forget your experiences.