My BIGGEST cryptocurrency mistake

[TTITA]

my biggest cryptocurrency error is that I sell a coin at a low price and a few days later the price of the coin rises to 5x and it happens when the market experiences an unstable condition. so I think that's my biggest mistake

[thewolfinthewide222]

You could sell the NXT before the fall .. They should have been in your wallet until a certain date, and not when Ignis drops. In general, developers are now more focused on Ardor now, so the NXT will fall in price.

[uszaty43]

I sold a lot of Elixir when the price was less than $0,20 way back on last november, then it climbed to more than $2,20 if i am not wrong on January, that was my biggest nigthmare

[Crypto Debate]

Hi I received below points in this forum,i think its help for all who are make mistake in trading

If you are going to try yourself in cryptocurrency trading, you should keep in mind, that without the understanding of essential rules and principles you will only lose your money (just like most of beginners do). For not to get disappointed, avoid these common mistakes, which are being made by most of newbies.
 
Mistake 1: buying on peak
There are two general feelings moving people on crypto market: fear and greed. If the coin has already reached its heights, you can suffer the feeling of missed opportunity (so-called FOMO). Greed and wish to get at least small part of the profit make unexperienced players to buy currency at the moment when experienced traders are already thinking of selling it.
How to avoid this situation?
Don’t buy any coin is there is not objective reason for it to continue the growth, and when several prolonged green candles have already taken place (have a look at the chart below).
Pay attention to resistance levels, and never buy currency when its price approach them. If you want to buy certain coin, wait until it breaks the resistance level.
Always check trading volumes of any currency you want to invest in.


 
 Mistake 2: selling a currency after its lost of a market value
  That’s a typical mistake made by every trader at least once – but in this case the main feeling moving the trader is fear to lose. Panic among the community and negative news only aggravate the situation. Suffering mental pressure, unexperienced trader sells all his assets in hope to keep at least small part of his investments. What happens later? … The panic seller finds out, that the rate has stabilized and that the lack of patience has led him to significant financial losses.  You can view this situation on a graph below.
 
 How to avoid this situation?
 Fix your losses by setting Stop Loss order right after purchasing. If the positive forecast happens to be wrong, you will lose only a small part of your assets (not more than 10%).
  Don’t sell your currencies if there are not objective reasons for the total crash down. If you have already lost a lot – just hold it till the rate drops to its bottom and wait for a turnaround.
 Remember: experienced traders are waiting for you to sell at a loss – that will allow them to by currencies for cheap.


Mistake 3: exiting the position because of the small correction.
 The market is cyclical. The growth can’t be eternal as there will be always people who want to sell. If the coin sinks for a little bit or remains flat, that doesn’t mean that the trend is going to turn into descending one, and that everyone are going to sell. Before buying a currency, you should consider the investment horizon. If you’ve provided careful analyze and selected a reliable coin for long-term investments, you shouldn’t care about any price corrections.
 
 How to avoid this situation?
 Always follow the news concerning the currency you’ve invested in.
 Set a take-profit order on a mark a little bit under resistance levels.
 Close the position parts by parts.
 
   
 Mistake 4: investing into currencies which don’t have real value
 This mistake is the result of a greed. Unexperienced players, who can’t detect pumps, purchase coins which were artificially overrated whith no having any significant value which makes it attractive for mid- and long-term investments.
 
 How to avoid this situation?
 Always analyze any project you want to invest in. Evaluate its importance, developers team, trading volumes, news background.
 Never invest in pumps – especially is pump has already happened.
  Never invest in suspicious coins, which are not listed on authoritative resources like CoinMarketCap or Investing.com.
 Purchase coins with daily trading volumes no lower than $1 million and market cap above $10 millions.
  Invest only in coins listed on major crypto exchanges.
 
 Mistake 5: the lack of strategy
 Most of beginners don’t follow any certain trading strategy; they don’t diversify their risk and often invest in scam projects.
 
 How to avoid this situation?
 Don’t invest more than you are ready to lose.
 Don’t invest in one currency; choose several projects.
 Don’t invest in ICO promising suspiciously huge profit.
 
  And the last one recommendation. Before taking a decision always consider all the factors which can affect coin’s price in the future. That can be:
 1)Fundamental analysis
 2)Technical analysis
 3) Statements of developers
 4)Changings in developer’s team
 5)Trading volume and current situation on the market
 6)Public opinion (forums, social media, Github etc.).
Invest safely with CryptoCurrencyUnivers!

Hope this all help for Crypto currency investors

[markk94]

Same mistakes as you, but i gain the NXT airdrop coin, ignis. Well, late 2017 surely teach me alot of things like fomo and whatnot. Still couldn't believe that my stupid-self could do such shameful act like that. Greed is basically rotten human behaviour.

[Sakira72]

My biggest mistake so far is selling about 500k mined xvg at 50-55 sats few hours before McAfee pump,and yes it really were 2-3 hours before the pump Cry Yeah i get it that i wouldnt sell it at the top but still looking at it now it was a massive mistake and still dont know why i sold it because didnt really needed the money....Cant get all right,win some lose some Undecided

[EMS-007]

well
big mistake .
i have more than 10 big mistake, the only i remember when i buy about 500k TRX with 3,2 eth on etherdelta.
then i sell too fucking fast , actually i can get x10 or 20 or x30
but i am too hurry to take x2 profit.



sad right ? 

We have almost the same situation in an opposite scenario! i bought ICX the time BTC was about $14K but i did nor sell it the time Time BTC was around $20K because my portfolio is Hodling!
Now, the current bearish market has decreased the price of ICX a multiple times and o'm loosing a huge portion with my investment.. 

[swiftbits]

I don't have much of an experience mostly in trading but I was victimized by a phishing fake MyEtherWallet site last year because I clicked a Google Ad suggestion while searching so I lost $1000 worth of token (OAX). I didn't know how to secured my account that time.

[Svarora]

Well my biggest mistake when i can't take the profit on hextra and wait for longer duration then I lost  all my profit

[Koko1200]

December 2017 during the high of highs, I made a huge mistake, I allowed greed and fomo, ignored my gut and bought into NXT because I was chasing Ignis airdrop. The coin has since tanked and I still have not received the airdrop. Nxt is probably 80/90 down.

What is your biggest cryptocurrency mistake???

I think, my biggest mistake is a bunch of repeats of one particular When I know for sure, what will I end up doing this, and again I will do, like selling too early, or something similar, panic selling for example.

[artemdubina88]

On the exchange as it did not put 2 FA then very sorry about it. It would have taken 2 minutes.

[tranb9681]

My biggest mistake in cryptocurrency was I sold my coin with the lowest price because I was doing panic at that time because value increase higher then afterward it decrease. After I am sold on it became higher as became steady

[DiabolicAnt]

I didn't sell some tokens while they were really high comparing to their current price so..  I didn't really lose those money but I missed the chance. I'm still holding it and hoping that the price will go up.

[Koko1200]

I am not that long here at crypto, so my biggest mistake was probably this dumb posponing, when I knew about crypto, but did not enter until the time, when I was already bored of everything else, this is so stupid..

[michellee]

On the exchange as it did not put 2 FA then very sorry about it. It would have taken 2 minutes.

we have the same experience. I remember that I lost some of my coins in the poloniex when poloniex gets famous in their first year. I forgot to activate 2FA verification for my account and it makes I lost my coins. but soon as I get the answer from poloniex support system that my account getting hacked, they told me to activate 2FA and email verification to secure my account. this is the important lesson for me so I can secure of my other exchanges account because once we lost the coins, it's really sad and we are regret for not securing our account.

[profitbezpredela]

We all make mistakes in the world of crypto currency, because this is a very volatile market. It is difficult to guess what will happen tomorrow. We must be very careful.

[Katashi]

Actually i believe it's not that big because if you believe it's not the end for you yet, what i mean is the flight of cryptos doesn't end last december this year nor next five years. It is still new and has more to go, what i am referring is the developments and areas to improve in order to fit in this world. There will be changes and the world is designed to adapt on those innovations. I also have some of my regrets because of not selling some of my alts last year but i believe it's not the end yet.

[catapult]

I wish I had bought more neo, litecoin and ethereum in the past, these ones are my biggest regrets.

I think everybody has major and minor mistakes in crypto, but I think it is possible to decrease the number of them by improving skills and knowledge.

[thanhtuyenk38]

selling decent coin was my biggest mistake ever I made.I sold them at .000049 sathosi but after selling those coin that hit at .00085 satoshi Sad Now I am holding poly hope this coin would make a pump soon.

[nicole74859]

Biggest crypto mistake I had done is not shredding my fiat money for different coins in the market, like I've been at focusing so much in Bitcoin that it made me lose the opportunity to buy different alt coin.