Mistakes when trade coin

[Cryptodetails]

Trading is a game of professionals and many people did not want to spend time learning and develop their skills to trade professionals. I have spent a lot of time to demo trade and one of the major mistakes I made some time is clicked buying when actually my decisions is to click selling. Mistake are band to happen but the professionals now how to manage it to their advantage.

I think this can be summarised as follows: Do the opposite of what the crowd does.  The crowd buys when the prices are high and when everyone buys, and sells when the prices are low and everyone sells. The opposite would be: buy when the prices are low, and sell when the prices are high. As simple as that, but it takes a lot of discipline not to be carried away by the crowd.
Putting money into the trade that you can not afford to lose
Beginning of trading with large amounts
Purchase of weakly capitalized, unstable Crypto-currency for most of the deposit
Fixation of loss Adherence to excitement, emotions and unconfirmed information in decision-making
Using trading bots
Lack of habit to follow the news and lack of attention to other important reasons for the change in the rates of Crypto-currency
Purchase of the Crypto-currency at the "peak"
Premature surrender before difficulties
Neglect of security issues

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[Blue Bell]

All of what you said seems right and trading a coin is not easy especially like bitcoin because of it's more volatility but of course we can still read the market a quite well.

For sure nothing is really easy , we will have to work hard and sometime we need to work smart for bitcoin trading, we can buy low and sell high some people don’t really trust bitcoin for trading they use to say that it is risk and they avoid it but later on when they see price increasing or they see other people getting profit so they trade at high price and the other mistake they use to make it try to start with day trading instead of long time trading.

[SixOfFive]

The main mistakes that traders make are:
1.   Lack of knowledge: This is the most common reason that people don’t have enough market knowledge and how to predict market.
2.   Greed: That’s the human nature, in the greed to earn more we often lose many things.
3.   Panic: People often can’t control their emotions when they see their investments falling

[noah tall]

Not researching enough to actually know what the coin is suppose to be about. I have seen people trade coins that they have no idea of (I have literally met with someone who knew the short ticker of the coin and not the full name) what the coin is about. Just pure speculation wil always result with losing money and profits. Research day and night before investing into any coins.

[Rollkal]

That is when you buy a penny at a high price and sell it at a very low price so you will lose a bit of capital. I think you should consider before investing in the Crypto market they are not easy to make profit as people often say.

[Whosdaddy]

You listed many of the mistakes that I did and if i wouldnt have made those simple mistakes i would be so much wealthier right now.  if i didnt get too greedy, and just cashed out, after Ethereum experienced its huge spike I wouldve been able to buy 30+ ether at current prices.  But what my greedy self ended up doing was putting all my profits into litecoin thinking it was going to boom next.

But it is not possible to move forward without stumbling and falling down. You should be happy that you have learnt something out of those mistakes. Don’t get disappointed in Litecoin. It is a wonderful coin. But you should have picked bitcoin for trading and stayed with it.

This is the best coin for trading as it is the most fluctuating one. You still have a long way to go and you can become wealthier, have more confidence.

Yeah, but if your stumbling and falling down is as a result of your foolishness which so many people who think they can trade without learning at all and just start gaining experience are, then such a person should really go have sit and have a re-think.

Picking bitcoin for trading will even worsen the matter for anyone who is not knowledgeable. Anyone who is losing badly is not because of the market and they are not just getting the picture already that they are the ones at fault. Nobody became a professional trader by just starting with the chats, they started with the book.

[lagista]

generally a mistake when trading is on the selection of the coin because many traders are less precise in choosing a coin and they get big losses before the coins return to the highest price.

[FalcoonRed]

the mistake I've made in trading is when I mistakenly predict coins, whereas my prediction of the price of the coin will go up but go down very far. I lost my money for wrongly predicting coins.

[Starone1]

The main mistakes that traders make are:
1.   Lack of knowledge: This is the most common reason that people don’t have enough market knowledge and how to predict market.
2.   Greed: That’s the human nature, in the greed to earn more we often lose many things.
3.   Panic: People often can’t control their emotions when they see their investments falling

It is true because trading is the very sensitive matter if you see then you will know that trading is full of profit but the mentioned mistakes some time will reduce your profit,. If you don’t have knowledge about trading then increase your information first then go for trading, don’t be rush to sell if you see the price increasing, wait for it to increase more and more, panic selling make the profit low so don’t panic wait more and more so these will increase your profit and will cut your lose.

[Pattberry]

2. The goal is too big, greedy

If you have invested in a good coin or token, then there is a possibility for you to make a very huge profit, i made a fortune with ETH and trust me you can make a insane amount of money with it, you just need to have the patience to hold the coin for a long period of time.

3.Do not stoploss
-This is an extremely important lesson. Any experience or famous investors emphasize this. Stoploss help you have successfully trade up to 80%, do not know how to stoploss, you certainly never win, just fail sooner or later. You can not stop the market trend, stop loss is painless to want to do, but it protects your capital, help you get back to very quickly.

I do agree with this part, having a stop loss in the virtual market is like suicide, the market is really volatile and anytime the  market can move in either directions and when it comes to stock trading it is an important factor but it is not applicable in my opinion in this market.

[Wowcoin]

1. Too hasty, lack of knowledge

-This is a mistake that most investors when started. The hot growth of the market, the price of Bitcoin growth every day is the main motive for new investors to participate in this market. They are always afraid to miss the opportunity. So they hurried into the market and forgot to learn. So learn first. Be patient waiting for a price you think is good, or at least according to technical and market signals.

Some people are lack of knowledge they don't know what they do, new investor on bitcoin are buying on the price will goes up and once market goes down they are panic then they will sell their bitcoin at wrong time.

[GoldenLad]

the mistake I've made in trading is when I mistakenly predict coins, whereas my prediction of the price of the coin will go up but go down very far. I lost my money for wrongly predicting coins.

You are not the one controlling the market. You don't predict the price of any cryptocurrencies and it goes according to your predictions. It doesn't work that way, If this is how it works, probably bitcoin would have been on the price of $50,000 or even $100,000 as most people predicted.  And so therefore, you don't invest or trade on a cryptocurrency because of your predictions ( this is why you lose money),  you invest and trade in it because of the potentiality of the coin. Good coins will get high value and price in the future.

[susuberuang]

I think there are many kinds of mistakes traders, I will mention some mistakes that are often done by traders, the first mistake is, often affected by market conditions and easily panic, the second is not able to control the condition of patience that traders have, and the last is weak hand which means very fast to sell and attract keutungan when the price can be more than the price he was selling.

[mkhadazz]

my biggest mistake was that when I was affected and made me panic when the price dropped I sold my assets, the biggest mistake I made was easily affected by bad news and easily panicked, traders should be able to control the condition in order to avoid the risk of loss.

[slashz9]

the most often I do is greedy.
when I see the price go up to 20% I always think it will rise again, then the price drops drastically, it's very painful but that's the truth, I hope I can improve my attitude next time.

[yudi31]

the most important part of coin trading is to buy coins when the coin prices soar, so we will have trouble selling the coin much less profit, very difficult.
selling coin when the low price is also a mistake.

[wuvdoll]

The good things to loose money in also a leck of patience and teory, when you start to trade before any researches on the trading topic

Patience is just one of the things you may need if you are trading well and looking forward to an outcome as long as you are still doing it right, but this is one thing you should not even bother having if you do not have the knowledge, because such a person does not even have business with the charts, let alone having patience while trading in the first place.

As long as you are trading, you should be learned and know what you are doing, trading a highly volatile market without some knowledge to guide you is more like looking for a huge trouble.

[rumexx]

1. Too hasty, lack of knowledge

-This is a mistake that most investors when started. The hot growth of the market, the price of Bitcoin growth every day is the main motive for new investors to participate in this market. They are always afraid to miss the opportunity. So they hurried into the market and forgot to learn. So learn first. Be patient waiting for a price you think is good, or at least according to technical and market signals.

2. The goal is too big, greedy

-You should set goals when entering the market just to be profitable. Do not expect too soon to be rich or become a millionaire in a short time. When I join ico, it must reach x $ or x5, x10 for these ico, that actually kills me. When the price fell, I did not sell. That was a big mistake.
Most of the investors, trader has experience, they only want to increase their property by 30% in a month. They are too happy. Remember to a story put the grain on the chessboard with 64 boxes. Patience, not to lose, your property will quickly bulge
Remember to expect 30% of your assets, you are likely to lose 30%, expecting x5 x10 accounts quickly will help you to 1/5, 1/10 of investment capital.

3.Do not stoploss
-This is an extremely important lesson. Any experience or famous investors emphasize this. Stoploss help you have successfully trade up to 80%, do not know how to stoploss, you certainly never win, just fail sooner or later. You can not stop the market trend, stop loss is painless to want to do, but it protects your capital, help you get back to very quickly.

4. Try to resist the trend
-Try to resist the trend
You will be dying right away, which is the answer to trying to resist the crowd trend. In a festival, the whole crowd is joyfully moving forward, you just go back, you are immediately stamped to death. For the market too. When the crowd rushes to buy the excitement, you think the market will fall, you will certainly lose money. In contrast, when the market has strong sell trend, you try to hold the more losses. Get out as soon as possible and go earlier than the crowd.. If you run after the crowd, of course you will be able to die with the crowd, know enough and stop even though the crowd is still running. In every investment, in the long run the crowd has never won. When you are swept away so fast, as the car is so fast, braking slowly no matter what trouble will help you stop safely, waiting for the incident, whether the car is good but you also hurt less a lot of.

This is apt. Well thought out write up that will help members who are new in trading. If they will read and understand and apply the idea in the write up will do well. The only part that is missing is mentor. Every new trader must have a mentor.

[liivii]

the most important part of coin trading is to buy coins when the coin prices soar, so we will have trouble selling the coin much less profit, very difficult.
selling coin when the low price is also a mistake.

Having a buy and sell range will makes you more profitable because you don't know when is the right time to buy or sell a coin. Now that almost all the coins increased their prices are you willing to sell your coins or just wait till tomorrow because you think the price will increase more than today?. It's hard to decide right? Then that is the time you will use your buy or sell range limit so that whenever a coin reaches a certain amount you will surely buy or sell it to gain income. By that strategy you will earn more money with less risk.

[Woterry]

Best advise and on point advise I’ve read so far. This is what I’ve been doing while waiting for my campaign to be finished so that I can enter the trade game. While I’m on it, I’m reading this kinds of advises just to ready my self for the trade game. And so far I’ve been doing #1, to not have lack of knowledge when trading. I love how you talk about greediness here, just trust your instincts and never gamble for your greed. Trade smart if I may say.