Please help a newbie who do A LOT of mistakes

[captain_blood]

Just HODL my friend, all is well in no time. Crypto is here to stay.  I was once in your situation, and got the time I am so deppresed because my holding down by 70%. I just close my portfolio, uninstall it, and as I came back 3months, I quadrople my holdings. That is why patience is the key to success.

[1715438754]

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[JohnMacZeppelin]

As it was said more than once, you need to get acquainted with the project in great detail if you plan to invest in the project, and also deeply analyze the situation with the coin if you plan to invest in a coin on the exchange.

[Alpha0One1]

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.

Almost exact advise that I would have given the OP.
1. Know your risk tolerance - If you can weather a 60-80% loss and still hodl, you can survive crypto.
2. Only use fiat converted to crypto that will not need for 6-12 months even.
3. Only use fiat that you can afford to lose and still be able to sleep at night. Consider any money that you put in crypto to be GONE, ZERO, KAPUT! 

I have joined some ICO 6-7 months back, they even dipped 50% below ICO price, I just hodl - 3 of the 10 I bought gave 3,000% gains.
Well enough to cover the "sleeping coins" in my wallet and made enough gains to get into new ones.

HODLING is KEY!!!  

[PanGiMoon]

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,

And what we will help, we climb into his head and change consciousness or persuade. I do not see the point, everyone learns from their mistakes. He made several mistakes, now he will be more careful with his investments.

[AngelSky]

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.

Almost exact advise that I would have given the OP.
1. Know your risk tolerance - If you can weather a 60-80% loss and still hodl, you can survive crypto.
2. Only use fiat converted to crypto that will not need for 6-12 months even.
3. Only use fiat that you can afford to lose and still be able to sleep at night. Consider any money that you put in crypto to be GONE, ZERO, KAPUT! 

I have joined some ICO 6-7 months back, they even dipped 50% below ICO price, I just hodl - 3 of the 10 I bought gave 3,000% gains.
Well enough to cover the "sleeping coins" in my wallet and made enough gains to get into new ones.

HODLING is KEY!!!  

Like you many people invested on the new ICO coming to the market. Whenever we invested on the ICO tokensale you have to concentrate and check their white paper and project information in the future.
Instead you will be able to invest the fund on the cheap altcoins which more growth in the marketplace.
Always holding the bitcoin, eth and litecoin will be a all time set goal for the having the fund returns bigger back.

[JohnMacZeppelin]

Errors are allowed by everyone because this is a common phenomenon, so do not think that this is something terrible, it's life, errors still appear, because we are only people, we are not robots

[happyme1818]

If you cant trust your instinct, use the instinct of others. But it is better if you have skills to do that. Trading need skills specially reading charts. Updating your self on a trusted sources would be better. Use tweeter or pages to update yourself  about your altcoin portfolio. Learn not to use your emotion when deciding to cut lose.

[Step NOY]

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 General, short-term losses may not be accidental, do not worry about it. Advice from wise men: if you want to make good money, it is better to invest in dolgosrok, and trades lead at least daily trends.

[crypteris]

What prevents me from panic selling is that every time I spend my money on crypto I imagine I just give it away. I feel like I don’t have this money anymore. It’s easy to see that you lose money that you don’t have. However, I understand that there’s a high percentage that I will get a great profit from this ‘money I don’t have’.

[tonylewisverdu]

buy good coins that are having a bad week (in the red) now's a good time to get in. if the market is rising try not to FOMO about it...wait and buy low.


Go Green!

[Vispilio]

BCH is different from other Altcoins because it's a direct competitor to Bitcoin. It has some merits, but the hostile nature of the competition makes it a considerable possibility that BCH can also go to 0 or extremely low levels, whereas most promising altcoins rally exponentially while Bitcoin is trending up.

So be very careful about giving great weight to BCH in your portfolio, unless you are really confident about the price action.

[Polipog]

We really knows that mostly all newbie are performing some mistakes but there are also wise newbie, but it is only a learning lesson when people got mistakes, and for sure that people got mistakes would surely become a master on this particular business on their future life, because they learned from their mistakes.

[JJriver]

How can we help them except verbally. I think they should study everything themselves, but they will fill the cones with it, but it's the other way around that teaches what is right and what is not. He studied everything himself, analyzed and read a lot and held some opinions so that in the end he somehow made me a confident trader and that losses are inevitable even with an ideal planning.

[thinkpad99]

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,

For better investments you must reading all news in forum, because here you can find all informations about the best investmens.

If any coin will be profitable to invest you will know this thanks this forum. Because your the biggest mistake is low knowedgle

[cheezcarls]

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,

Hey there buddy!

How you doing? I know how it feels to encounter these losses, because I felt the same way as you. I bought TRX at $0.17 and it is currently down to $0.04. I never sell them for now, because I am waiting for the market to recover again. My advice for you is that these short-term losses are just temporary, which we just treat it as a healthy correction. Of course, never buy high and sell low. We should aleays follow the basic principle of Warren Buffett when it comes to trading, which can be applied in the cryptocurrency market as well.

Just my two satoshis.

[chocolaty]

The problem is not being a newbie. The problem is being impulsive and rushing into decisions without enough knowledge. You could have prevented these mistakes to happen if you only did not let your emotions decide for you.

But anyway, it is already done. That must not stop you from doing crypto investments. That must serve as a lesson to you. Do not panic sell because know that the crypto market is naturally unstable. There will be extreme pumps and dumps but it will always recover.

[catapult]

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 my opinion, you can be a good trader by just following your own way. As I understand from your words, you are doing many researches and thinking about the trading strategies, that's really good.

Don't forget that, everybody make mistake or mistakes. The important thing is, being able to learn from the mistakes. My advices are these, follow your own way and try to make better choices. Good luck!

[BitcoVast]

learning to control yourself is not easy, do not panic sell when the price falls. you should be able to control yourself. because what you invest is money, not plain paper

[Negdan4ik]

it is necessary to buy at a low price, and sell at high, it seems that it is elementary and everyone knows about it, but most make mistakes on this. Many do not study the coins and simply invest at random.

[tyuner4]

From what I see, you should learn to relax and don’t panic sell. It is the same if you are trading in stock markets and forex, patience and clear mind are very important.

Your current portfolio looks good and you should be confident. Good luck.