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Author Topic: 11 Mistakes you should never do in crypto trading✌✌  (Read 1661 times)
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July 20, 2018, 07:03:30 PM
 #121

Though this are all common ideas that must every users has,still youre too generous to post this here to help newbies or even old timer to have another set of knowledge for not to become another noob that might loss capital because of denying this reasons.keep it up mate and i believe this helpful tips might help many new comers ,i will bookmarked this for future sharing
Yeah, they are really some very good tips that a trader needs, but not everything needed by a trader. The only reason this tip can be effective is for a trader who has been able to learn enough but still making some silly mistakes due to some of the attributes mentioned by the OP.

Most times, a lot of new traders are so keen trying to play smart on the market and even forcing indicators to dance to their tune without allowing trades to develop. All these things matter a lot when it comes to trading. Mistakes may happen here and there in trading. That is not a big sin. But, repeating the same mistake again and again must be a big sin in trading always.

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July 20, 2018, 11:13:49 PM
 #122

The overall summary is that crypto field is for those who can control the emotions and having patience

Controlling emotions is only possible to a certain extent. It's impossible for anyone here to remain ice cold during every trading session, which is why bots are the perfect alternative to combat the human's imperfections in terms of emotions. I think it's almost safe to say that nowadays more than ever, every crypto market is being traded by bots for the major part. We just need to accept our weakness and admit that we're suckers when it comes to day trading. I only stick to longer term trading because that at least doesn't expose me to the continuous risks that come with day trading. My only target is to sell higher, time frame isn't important.
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July 21, 2018, 03:08:08 PM
 #123

Well defined,It will be helpful for the beginners.The overall summary is that crypto field is for those who can control the emotions and having patience,If  you meet successful traders in your circle they have patience and calm when face crash of market and also have B plan it mean never invest all at one place there is diversification if one side losing another side gaining.
I would rather say the summary of everything that the OP mentioned would be never to trade without any knowledge. The fact that someone is trading emotionally, or not buying at the right point as well as selling based on strategy, or not making use of stop losses in some cases, all balls down to the aspect of not being knowledgeable enough to trade because with that and some experiences, it would be so easy to know what to do in every single market without attaching any form of emotions. I have come across many such "never do" things, but unfortunately I do remember none of them while my trading hours. I guess I am not the only trader experiencing that.

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July 27, 2018, 01:59:35 PM
 #124

Even the experienced traders can use these tips. All of them are extremely useful. As for me, I am always trying to avoid one mistake - the panic. When you are depressed, a bunch of mistakes can be done.

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July 27, 2018, 02:31:28 PM
 #125

Even the experienced traders can use these tips. All of them are extremely useful. As for me, I am always trying to avoid one mistake - the panic. When you are depressed, a bunch of mistakes can be done.
being in a good way on how are you made to secure your money yet there is some cases to be in here that most of us cant just make some avoid on it specially when your emotions cant control yet and you may start to panic.

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July 27, 2018, 03:23:36 PM
 #126


3/ Never invest your all money in one coin you must diversity.


I totally agree with you, divide your capital. this strategy
could lessen your risks since you're hodling multiple
coins
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July 27, 2018, 04:27:13 PM
 #127

It is very helpful. All those mistake are usually met in trading. The matter is even we know about it, pratical is very different. It is really hard to control your emotions especially when the price keep rising, and you don’t wanna be the outsider.
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July 27, 2018, 07:13:59 PM
 #128

It is very helpful. All those mistake are usually met in trading. The matter is even we know about it, pratical is very different. It is really hard to control your emotions especially when the price keep rising, and you don’t wanna be the outsider.
Yes.We may even have lot of rules to follow but when it comes to real life application,they evenly lost out of sight.We tend to become of what we really are,like having emotional fears when prices suddenly fall,and resorted to panic selling which make us a great lossers eventually.

 
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July 27, 2018, 07:27:46 PM
 #129

Even the experienced traders can use these tips. All of them are extremely useful. As for me, I am always trying to avoid one mistake - the panic. When you are depressed, a bunch of mistakes can be done.
being in a good way on how are you made to secure your money yet there is some cases to be in here that most of us cant just make some avoid on it specially when your emotions cant control yet and you may start to panic.
Right.Having emotional troubles can often lead to a loss in trading.As much as possible we should avoid that,but sometimes we tend to be more aggressive and develop greediness which will totally lead us in making trading a failure one.But let us learn a lesson from this mistakes and do good in the next round.


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markint
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July 27, 2018, 07:28:13 PM
 #130

It is evident that many of these principles are based on the rules that have prevailed in traditional trading schools for the last decades, and those perhaps have been relatively efficient in ordinary markets. However, I believe that the behavior and the nature of the crypto market make it a totally different challenge to those hitherto known by traders, therefore I believe that each one must build their own strategy through daily methodical observation, since I do not believe in magical recipes, much less in this complex and volatile market.

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July 27, 2018, 11:12:46 PM
 #131

i agree with the fourth rule nt to sell the coins in panic mode and rest all the points are well written it is eye opener for all
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July 27, 2018, 11:31:13 PM
 #132

10 MISTAKES YOU SHOULD NEVER DO IN CRYPTO TRADING  Wink Cheesy

LET'S START  Cool

1/ Don't be so greedy,as something is better than nothing.If you get 10% profit then try to sell out and exit.Otherwise you will lose all your money if you want more than 10%.

2/ Never buy altcoins when bitcoin price is unstoppable.

3/ Never invest your all money in one coin you must diversity.

4/ Don't sell your coins at loss,don't get into panic sale.Because if you brought protensial coin, then don't sell your coin if it dump.Because it will grow again after some days.

5.Never invest all btc in altcoins keep some btc in wallet for right time.If you like one coin most,don't invest your all money on this coin.Keep some btc for right time.

6/ Always make your portfolio, decide part if short and long time.

7/ Don't sale your long term coins at panic sale.You should hold your long term coins for 1 or 2 years.

8/ Don't do trading with your emotions keep them aside.

9/ Don't do day trading without proper knowledge.Before learning day trading don't go for it.Otherwise you will lose your all money.

10/ Never buy coins at their all time high price.Don't buy coin at their high price, wait for dump and buy at deep.

Guys if you follow this 10 strategy, then I'm sure you will be safe from losses. Cheesy Cheesy

Well, you are right here with some statements but for me the biggest enemy you'll encounter in trading is yourself and how to control your emotions.

The biggest enemy as well as the real enemy, sometimes this one thing looks trivial but quite complicated in the process of his control, but for those who can not afford. Just be patient, because being patient is the only key that can neutralize your emotions to become as cold as snow.

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July 27, 2018, 11:47:54 PM
 #133

This is helpful. But can you explain what you mean by "do not trade with your emotions?" How is that possible? Thanks for feedback.
I think he means that you should always try to clear your head before heading into trading because emotions can make you twist things around

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July 28, 2018, 02:16:37 AM
 #134

Some things you should avoid when trading bitcoin
  . Wrong address

. Not completed enough certification

. Buy through the service of the trading platform

. Make a payment via PayPal or credit card

. Follow Fomo
These things will make you speculative at risk
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July 28, 2018, 05:14:39 AM
 #135

Thanks a lot for sharing such great experience by you. You guided well and i appreciate your effort.
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August 02, 2018, 09:11:56 AM
 #136


3/ Never invest your all money in one coin you must diversity.


I totally agree with you, divide your capital. this strategy
could lessen your risks since you're hodling multiple
coins
This is financial management. If you don’t have financial strategy and you are diving in this trading thing or any other crypto or business related thing, believe me you would be seeing such big losses. Every time when you intends to go for trading, better is to make some strategy. Devise this strategy in a way that your income must be divided and then you can go for different altcoins as well.

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August 02, 2018, 03:05:40 PM
 #137

These are some common mistakes been made in the cryptocurrency market. To eliminate greed is one of the things that any investor or trader need to. Secondly, do not invest what you cannot afford to lose as this very vital to your trading career.
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August 02, 2018, 03:24:57 PM
 #138

the post by OP is very helpful for those rather new in crypto world.  I think I had done all the 10 things that were mentioned above.  I am now starting from zero again from huge losses.  bottomline is... never be greedy, if something is too good to be true, then it's probably false.

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August 02, 2018, 03:40:29 PM
 #139

10 MISTAKES YOU SHOULD NEVER DO IN CRYPTO TRADING  Wink Cheesy

LET'S START  Cool

1/ Don't be so greedy,as something is better than nothing.If you get 10% profit then try to sell out and exit.Otherwise you will lose all your money if you want more than 10%.

2/ Never buy altcoins when bitcoin price is unstoppable.

3/ Never invest your all money in one coin you must diversity.

4/ Don't sell your coins at loss,don't get into panic sale.Because if you brought protensial coin, then don't sell your coin if it dump.Because it will grow again after some days.

5.Never invest all btc in altcoins keep some btc in wallet for right time.If you like one coin most,don't invest your all money on this coin.Keep some btc for right time.

6/ Always make your portfolio, decide part if short and long time.

7/ Don't sale your long term coins at panic sale.You should hold your long term coins for 1 or 2 years.

8/ Don't do trading with your emotions keep them aside.

9/ Don't do day trading without proper knowledge.Before learning day trading don't go for it.Otherwise you will lose your all money.

10/ Never buy coins at their all time high price.Don't buy coin at their high price, wait for dump and buy at deep.

Guys if you follow this 10 strategy, then I'm sure you will be safe from losses. Cheesy Cheesy


I can fully agree with your 10 rules. These rules should be taken to heart by all new investors and to act accordingly.

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August 02, 2018, 05:42:51 PM
 #140

but its very hard to follow all these 10 rules, i broke some of these rules and lost so much in trading
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