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Author Topic: Trading don't work for me too well  (Read 1386 times)
cydrix
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March 05, 2018, 05:03:39 AM
 #1

Have lost so much money on coins that doesn't work well for me. My flaws are I'm  impatient and ignorant this maybe a good time to find some insight and good answers on how to get better

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March 05, 2018, 05:27:17 AM
Merited by vapourminer (1), carlisle1 (1)
 #2

You might want to paper trade to test out your system. You need to fully understand technical analysis and determine the time frame you are trading.  Day? Swing? Position?

Use a Heikiin Ashi chart which will show you the trends very easily, green is up, red is down.
The Stochastics tool is a good way to see overbought and oversold areas which you can find buy/sell points.
Use trend lines as they typically will show support/resistance
Fibonacci will also show support/resistance
Bollinger bands will show you overbought / oversold areas.

If you do not need to trade, you probably shouldn't and just HodL
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March 05, 2018, 05:48:52 AM
 #3

Have lost so much money on coins that doesn't work well for me. I know I'm being impatient and ignorant this maybe a good time to find some insight and good answers on how to get better
The answer is already there if you are impatient then by starting a new strategy you can stick on it. Ofcourse you need to have a good understanding on a good plan to buy and exit because patience is not enough without it. Next is the coin you are about to buy should be a good for either long term or short term.

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March 05, 2018, 06:33:15 AM
 #4

Have lost so much money on coins that doesn't work well for me. I know I'm being impatient and ignorant this maybe a good time to find some insight and good answers on how to get better

How did you lost that much money? Buying high and selling low because of panic?
You would not lost your money if you did not sell it at lower price than when you bought. The key is keep being patient by holding your coins, if you want to do cut loss then you should do follow up to recover your lost. Doing cut loss only with no other actions = BIG LOSE.
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March 05, 2018, 06:45:18 AM
 #5

It is not only you, a lot of other investors who have been trading is having the same problem. I think that a different approach is required. Just buy bitcoin and Ethereum and hold for long-term. Forget about short-term trading.

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March 05, 2018, 07:13:14 AM
 #6

Have lost so much money on coins that doesn't work well for me. I know I'm being impatient and ignorant this maybe a good time to find some insight and good answers on how to get better
Like you have rightly said maybe you don't have much knowledge on how trading work and you may need to develop your knowledge on this area. Trading is a game play by the skillful therefore you must endeavour to learning how to buy the coins at the right time and make a good profit from it.  Many investors and new traders always think that when to buy a coins is not important and at the end  invest into a coins at the wrong time.

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March 05, 2018, 07:23:48 AM
 #7

Have lost so much money on coins that doesn't work well for me. I know I'm being impatient and ignorant this maybe a good time to find some insight and good answers on how to get better

If you fail in trading then the best option for you is invest and hold coins until you make a profit.

Also, don't go for all new shit coins for fast profit instead concentrate more on top coins. Even though they go down but if you can wait then you will make a good profit in the long run.

If you think you have a good coin then never sell of loss then you will never make a loss.
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March 05, 2018, 07:31:42 AM
 #8

The answer is simple, if you think it dont work for you then just quit trading. Rather than trading why not just investing and hold in a long term timeframe, you said that you're impatient then its clearly because you're looking at the chart too much. If you're ignorant about something then you shouldn't trade that coin no matter what, why you bother investing in something you don't even care about?  Roll Eyes Roll Eyes

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March 05, 2018, 08:57:32 AM
 #9

You are not alone, it does not work for most people but I think even the best traders lose money like most people but their gains are always more than losses.
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March 05, 2018, 09:02:20 AM
 #10

Have lost so much money on coins that doesn't work well for me. I know I'm being impatient and ignorant this maybe a good time to find some insight and good answers on how to get better

Anybody will have same experience like you have include me so my suggestion will not work.
But because you have problem with choosing coins which dont work so better you invest in top marketcap coin like etherium

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March 05, 2018, 09:17:39 AM
 #11

You shouldn't be disappointed as a very small percentage of traders are able to earn money from trading. You are better off just hodling your coins in the long run than say trading. As according to stats, Bitcoin has given more return to hodlers than traders.

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March 05, 2018, 09:27:00 AM
 #12

Have lost so much money on coins that doesn't work well for me. I know I'm being impatient and ignorant this maybe a good time to find some insight and good answers on how to get better
Trading Cryptos requires patience the basic thing is to have a good trading strategy and belief in your strategy having demo trade and consistently making profit before going live, it is not advisable to jump from strategy to another and also trade with the amount of money you can afford to lose I.e always trade with a stop loss to avoid losing all your investment.

       
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March 05, 2018, 09:41:23 AM
 #13

Have lost so much money on coins that doesn't work well for me. I know I'm being impatient and ignorant this maybe a good time to find some insight and good answers on how to get better
You didn't stated how did you loss your trades, and when did you buy? most common mistakes that beginners do is once they have the money they immediately enter the market, and that is wrong. If you are a short term/day trader you would probably wait for the price to drop before buying. About the being impatient, you will always lose if you don't have patience because you have to understand that the cryptocurrency market are highly volatile and not always going on top, if you can't then trading is not for you. Losing your trade is very normal that is why sometimes you have to cut your loss and just re-enter the market when the price correction stops.
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March 05, 2018, 09:46:06 AM
 #14

Have lost so much money on coins that doesn't work well for me. I know I'm being impatient and ignorant this maybe a good time to find some insight and good answers on how to get better

Trading is not for those who are impatient. Trading is not a magic where you can earn a lot in a snap of a finger. Carefully analyze the trend and make sure that you have enough knowledge and experience on trading. You will surely lose a lot of money if you are too hasty and impatient in trading. Take your time, and do your own research.

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March 05, 2018, 09:49:11 AM
 #15

Have lost so much money on coins that doesn't work well for me. I know I'm being impatient and ignorant this maybe a good time to find some insight and good answers on how to get better
The answer is already there if you are impatient then by starting a new strategy you can stick on it. Ofcourse you need to have a good understanding on a good plan to buy and exit because patience is not enough without it. Next is the coin you are about to buy should be a good for either long term or short term.

I know patient only is not enough because we need more than that patient like technical and fundamental analysis.
But as i know though you have the good analysis but if you are impatient then you will have huge loss.
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March 05, 2018, 09:50:31 AM
 #16

Have lost so much money on coins that doesn't work well for me. I know I'm being impatient and ignorant this maybe a good time to find some insight and good answers on how to get better
You need patience if you want to make money from your investment and mainly you need to be calm when the prices are falling.And you need.to follow the basic rule of buy low and sell high then you never lose your money.

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cydrix
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March 05, 2018, 10:38:05 AM
 #17

Have lost so much money on coins that doesn't work well for me. I know I'm being impatient and ignorant this maybe a good time to find some insight and good answers on how to get better

If you fail in trading then the best option for you is invest and hold coins until you make a profit.

Also, don't go for all new shit coins for fast profit instead concentrate more on top coins. Even though they go down but if you can wait then you will make a good profit in the long run.

If you think you have a good coin then never sell of loss then you will never make a loss.
Will do and I'm slowly picking up the pace somehow thanks for you opinions everyone. Ready to chance myself and control it even further. Although it would be great if you can show me how it's done just briefly for the mean time I'm sure i can follow.

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March 05, 2018, 10:40:06 AM
 #18

Have lost so much money on coins that doesn't work well for me. I know I'm being impatient and ignorant this maybe a good time to find some insight and good answers on how to get better

Then dont be impatient and ignorant if you dont want to loose more money form this. The trading is game play of those who are very patient and also keen readers of the market signal. They sense everything in short period of time and act quickly on it whenever it is needed by them. This is just one thing, if you want to be good trader then you should also have the good test of the coins that you are choosing. All these things work altogether and then give rise to proper methodology of trading. However if you yourself have accepted that trading dont work for you then forget about it as you have already made the psychology and you may not win in this method at any cost if you dont work hard.

   

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March 05, 2018, 10:43:04 AM
 #19

Iam also in big lose now because iam too confident if the price continue going up but in fact the price drop alot. So now i just hodl my coin fo long term investment. I know the risk so now i just relax and wait for bullish trend.

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March 05, 2018, 11:11:37 AM
 #20

Have lost so much money on coins that doesn't work well for me. I know I'm being impatient and ignorant this maybe a good time to find some insight and good answers on how to get better

First keep in mind ,you will force to lose some dollars at the beginning of trading.You should not get anger by that don't quite the trading.You can learn this trading only by the experience.Experience is much needed one to learn ,how to trade ?
when to hold ?
when to buy ?
when to sell the holding bitcoin?
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