What's the worst trading decision you've ever made?

[drachman]

I think my worst trading decision is EMC2. LOL. I spent about 0.2 BTC to buy EMC2 when its price was only 0.00001 BTC/EMC2 then I sold it for 0.00002 BTC/EMC2. Also I doubled all my money but if I were more patient at the time maybe I would have earned more than that 7 or 8 times cause only 1 month after that EMC2 price rised to more than 0.0001 BTC

Well, that is if the OP is talking about signals gotten from indicators, Technical analysis and Fundamental analysis.

In this case, I am sure the OP is referring to Telegram signals where someone calls the shot and the followers do the usual thing which is to follow blindly. That is a huge problem for someone who wants to trade, because there is no way they cannot end up losing a lot at the end. It is always good to have the knowledge and be able to make decision without being told what to do.

Those are probably nothing more than pump and dump groups but people should know better if I knew what a coin will do before it happened I will not share that information with anyone I will probably bet the farm in that trade and become incredible wealthy overnight so it is obvious most signals groups have to be a scam, there is no other way around it.

[Kiweikoo]

Exiting ETH at $300 thinking that was the peak, after buying in at $120.

To be fair, it was sitting at $300 for aaaaaaaages. Still, I reckon it's got a long way to go before we see ETH's peak...

Lol. No one could have even imagined last year, that Ether will even go further, but at some point anyway, the indicators started turning long and those who were smart enough as traders to see it, did and good thing it came in handy for the profit.

I have made trading decisions similar to this, but I have never regretted them, but sometimes as long as the trade is not hitting my stop loss or giving me some huge bearish signals, I really do not bother myself about it.

[KalaiBTC]

Bought some altcoin with BNB when BNB was 8$ and then it went up to 23$ the next day. I didn't really had a loss but if I would have kept BNB it would have been much better.

That is one thing almost everyone has obviously been a victim of and there is nothing we can all do about it. If the market decides to keep moving up and you take out your profit or you miss out of the show in the dying minute, it is just to accept your fate and move on. This is why some traders always prefer the long holding than having to do short term trading. Everyone have their own preference, it is just for you to make the best use of it.

[drachman]

Exiting ETH at $300 thinking that was the peak, after buying in at $120.

To be fair, it was sitting at $300 for aaaaaaaages. Still, I reckon it's got a long way to go before we see ETH's peak...

Lol. No one could have even imagined last year, that Ether will even go further, but at some point anyway, the indicators started turning long and those who were smart enough as traders to see it, did and good thing it came in handy for the profit.

I have made trading decisions similar to this, but I have never regretted them, but sometimes as long as the trade is not hitting my stop loss or giving me some huge bearish signals, I really do not bother myself about it.

As long as you make money it is fine people worry too much about selling at the top of the market but it is impossible to do it all the time, the most important thing to do with your trading is to obtain consistent profits, people concentrate too much in trying to get 10 times their investment when  getting 5% out of each trade can make you more money in the long run if you are a talented traders.

[ssuchy]

Exiting ETH at $300 thinking that was the peak, after buying in at $120.

To be fair, it was sitting at $300 for aaaaaaaages. Still, I reckon it's got a long way to go before we see ETH's peak...

Lol. No one could have even imagined last year, that Ether will even go further, but at some point anyway, the indicators started turning long and those who were smart enough as traders to see it, did and good thing it came in handy for the profit.

I have made trading decisions similar to this, but I have never regretted them, but sometimes as long as the trade is not hitting my stop loss or giving me some huge bearish signals, I really do not bother myself about it.

As long as you make money it is fine people worry too much about selling at the top of the market but it is impossible to do it all the time, the most important thing to do with your trading is to obtain consistent profits, people concentrate too much in trying to get 10 times their investment when  getting 5% out of each trade can make you more money in the long run if you are a talented traders.

The fact is that in most cases, the forecasts for Bitcoin broke, and the etherium was almost always avoided. But nevertheless for today we see real prospects of the etherium about the future. I think this is a better investment than Bitcoin.

[reganvegan]

Bought some altcoin with BNB when BNB was 8$ and then it went up to 23$ the next day. I didn't really had a loss but if I would have kept BNB it would have been much better.

That is one thing almost everyone has obviously been a victim of and there is nothing we can all do about it. If the market decides to keep moving up and you take out your profit or you miss out of the show in the dying minute, it is just to accept your fate and move on. This is why some traders always prefer the long holding than having to do short term trading. Everyone have their own preference, it is just for you to make the best use of it.

I completely agree - life is much simpler when you just hodl  I used to trade but I found the whole thing to be a bit stressful. Nowadays, I just invest in projects that I believe in and store my coins safely

[reganvegan]

I think my worst trading decision is EMC2. LOL. I spent about 0.2 BTC to buy EMC2 when its price was only 0.00001 BTC/EMC2 then I sold it for 0.00002 BTC/EMC2. Also I doubled all my money but if I were more patient at the time maybe I would have earned more than that 7 or 8 times cause only 1 month after that EMC2 price rised to more than 0.0001 BTC

Well, that is if the OP is talking about signals gotten from indicators, Technical analysis and Fundamental analysis.

In this case, I am sure the OP is referring to Telegram signals where someone calls the shot and the followers do the usual thing which is to follow blindly. That is a huge problem for someone who wants to trade, because there is no way they cannot end up losing a lot at the end. It is always good to have the knowledge and be able to make decision without being told what to do.

Those are probably nothing more than pump and dump groups but people should know better if I knew what a coin will do before it happened I will not share that information with anyone I will probably bet the farm in that trade and become incredible wealthy overnight so it is obvious most signals groups have to be a scam, there is no other way around it.

Your absolutely right - why on earth would people who create these groups try and help out complete strangers at the expense of their own profit?! There are some good vids on YouTube about how P&D groups operate. Doug Polk Crypto did a fantastic one...

[Koadharber]

I think my worst trading decision is EMC2. LOL. I spent about 0.2 BTC to buy EMC2 when its price was only 0.00001 BTC/EMC2 then I sold it for 0.00002 BTC/EMC2. Also I doubled all my money but if I were more patient at the time maybe I would have earned more than that 7 or 8 times cause only 1 month after that EMC2 price rised to more than 0.0001 BTC

Well, that is if the OP is talking about signals gotten from indicators, Technical analysis and Fundamental analysis.

In this case, I am sure the OP is referring to Telegram signals where someone calls the shot and the followers do the usual thing which is to follow blindly. That is a huge problem for someone who wants to trade, because there is no way they cannot end up losing a lot at the end. It is always good to have the knowledge and be able to make decision without being told what to do.

Those are probably nothing more than pump and dump groups but people should know better if I knew what a coin will do before it happened I will not share that information with anyone I will probably bet the farm in that trade and become incredible wealthy overnight so it is obvious most signals groups have to be a scam, there is no other way around it.

Your absolutely right - why on earth would people who create these groups try and help out complete strangers at the expense of their own profit?! There are some good vids on YouTube about how P&D groups operate. Doug Polk Crypto did a fantastic one...

This thing should really be always putted in mind for those people who do tend or plan to join Pump and dump groups which how those people are willing to help out strangers on making out some easy money as they claimed on the very first place. Some groups do ask for payment and some are completely free which means theres really a motive on any way you would go.This is why joining those groups are just total scamming out yourself.

[capoeira]

as a newb I once bagholded and got f_cked. Damn, I remeber very well. Never had so much stress in my life.

[reganvegan]

My worst trade decision was a few months ago. I bought all my investment in BCH and inmediately the market started to decrease. Panic seized me so I decided to sell all.
The next day the market started again to raise.

That's a common theme popping up here. The panic sell is a traders worst enemy (closely followed by the fomo buy). Sadly, ignoring emotion is easier said than done!

Every trader should have a strategy and stick to it, rather than panic. However, sometimes, I would not consider somethings as panic; I would rather call it playing safe. The same BCH has reached my stop loss before, sold it and all of a sudden it started rising back, of course some would want to quickly buy back into it and then all of a sudden it came all the way back down before you know it. That is one controlled market I have told myself never to trade again. So, at the end, it is just what they call moving on, and better safe than sorry.

That's good advice but easier said than done - who among us hasn't felt the overwhelming urge to panic sell when their coin starts to tank? Nowadays, I just invest in projects I believe in and forget about it for a while (although I check CoinMarketCap more than I should! LOL)

[reganvegan]

as a newb I once bagholded and got f_cked. Damn, I remeber very well. Never had so much stress in my life.

What coin were you holding? And was it part of a pump-n-dump scheme? Has it recovered from the point at which you sold it? Sorry for all the questions, just curious 

[kokobaba880]

I am new in the trading world but i have done selling one time and during that time i was not known to the price so when i sold my coin i realize to check the prices and the prices were higher than the price on which i sold my coin so this is the worst thing which i made ever and this is good for me that through this way i will earn good amount of money if we start bitcoin and altcoin trading i think we will become the millionaire of this currency as like the other people who are doing this.

[reganvegan]

Exiting ETH at $300 thinking that was the peak, after buying in at $120.

To be fair, it was sitting at $300 for aaaaaaaages. Still, I reckon it's got a long way to go before we see ETH's peak...

Lol. No one could have even imagined last year, that Ether will even go further, but at some point anyway, the indicators started turning long and those who were smart enough as traders to see it, did and good thing it came in handy for the profit.

I have made trading decisions similar to this, but I have never regretted them, but sometimes as long as the trade is not hitting my stop loss or giving me some huge bearish signals, I really do not bother myself about it.

As long as you make money it is fine people worry too much about selling at the top of the market but it is impossible to do it all the time, the most important thing to do with your trading is to obtain consistent profits, people concentrate too much in trying to get 10 times their investment when  getting 5% out of each trade can make you more money in the long run if you are a talented traders.

The fact is that in most cases, the forecasts for Bitcoin broke, and the etherium was almost always avoided. But nevertheless for today we see real prospects of the etherium about the future. I think this is a better investment than Bitcoin.

To be fair, they are completely different projects with different goals. I like them both but I can see why you're so keen on Ethereum...

[aintnopassincraze]

Mistake #1) Bought Ripple
Mistake #2) Sold Ripple after no pump on conference
Mistake #3) Watching the Ripple pump everyday while it happened

#3 definitely was the worst part about it all, if I had to do it over again I just wouldn't do #1

[capoeira]

as a newb I once bagholded and got f_cked. Damn, I remeber very well. Never had so much stress in my life.

What coin were you holding? And was it part of a pump-n-dump scheme? Has it recovered from the point at which you sold it? Sorry for all the questions, just curious  

It was BTC. I was in a leveraged position. So I got eventualy margin called lol. looking back to this it was well "invested" money for a lesson though.

[Barcode_]

I think the worst trading decision I have made most of the time was FoMO "fear of missing out", I never seems to be able to buy in bitcoin or altcoins at the lowest point during each dip, and this have caused my funds to be stuck with crypto-currencies for a very long time before I can sell them away for profits.

[clarkt]

One of the worst trading decision I made was not seeing bitcoin on long term  when I first started trading cryptocurrency.  I Bitcoin incredibly cheap in those days and I failed to keep any of them. I thought bitcoin was just saying flash!

[Jorosss]

We always hear people posting about their awesome trades and/or gains but very rarely hear about the stupid things that people do. With that in mind, let's hear the biggest brainfarts you've had while trading crypto...

My worst trading decision i've ever made is when i ignored my friend told me last december 2017 that bitcoins pump up to 20k $ is just a hype and it may go dip up to below 7k$ in a couple of months and it just happened last month ago. Maybe i can save up 50% of bitcoin portfolio if i just listened instead of being hard headed

[SportsbookBettor]

I recall when i was new in trading. I had bought a several eth before and i was just keep on buying then when i reach my target and i don't see any movement at that time. I was bored because there is no movement at all and i don't have any knowledge before about trading then suddenly i sell all my eth knowing eth won't rise on it's price. After few months of trading with several coins i see eth pumping and i was shock that the price went up. That's gives me a huge lesson about trading. If i see some potential coins now i tend to keep or hold them for a long period of time and just wait for another "eth" in the making base on the price only.

[rhodelmabanal]

When I see to it that most of the time when everyone has the knowledge in trading, you keep in trusting him and give your ETH and Private Key to hold the wallet. I was being fooled already and it seems that the coins are in the wallet already.  It is a biggest decision that I've ever made and the biggest lesson that I've ever learned.