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Author Topic: 11 Mistakes you should never do in crypto trading✌✌  (Read 990 times)
jstern
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August 06, 2018, 10:13:18 PM
 #161

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 agree with you on all points except the first one because I sold many of my really good investments for short term profit, whereas, if I had kept holding my investments for long term I would easily have made atleast 10x on most of my investments. But it's only valid if you invest in a really good project and not just any shitcoin out there.

That used to be the case in the past, where you can throw money at anything and have that money multiply many times by simply holding. Back then I missed out on a lot of profit because I did not hold long enough. So I corrected that and started holding, and then this horrible market started, losing what I had many times over. Now I feel like a dope.

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August 07, 2018, 03:38:58 AM
 #162

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

Thank you for this. I will keep it in mind. And also patience is key. Wait for the right time to buy and dump. I've made a few mistakes in the past where I dump my coins at a loss because I was afraid it would go down some more. But after a few weeks it pumped. Patience and keep emotions at bay is really important.
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August 07, 2018, 05:03:59 AM
 #163

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.
There are a lot of common mistakes in trading. For most of the mistakes happening due to the reasons of being greedy and improper trading capital planning. Yes, you have mentioned both of them correctly. When a trader is trading the capital which is not affordable to lose then he will never able to stick within his trading plans. Greed is another killer of our plans.
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August 07, 2018, 03:57:54 PM
 #164

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

Bro, everybody makes at least 3-4 of these 10 mistakes. Even a professional that has been dealing with the cryptocurrencies for a long time cannot avoid making them. However, we must thank the author of the post for this information.

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August 07, 2018, 04:28:54 PM
 #165

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
Yes i totally agree with your all given points and it was well explained, But i observed when price of any coin drop people do panic selling which is really bad mistake.
ratio of panic sellers are very high as compare to people who have bought currency when price suddenly drop.

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August 07, 2018, 07:49:57 PM
 #166

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
Yes i totally agree with your all given points and it was well explained, But i observed when price of any coin drop people do panic selling which is really bad mistake.
ratio of panic sellers are very high as compare to people who have bought currency when price suddenly drop.
I think this is the most common mistake that people always do.If you always end up  panic selling,maybe you're not really destined to be a good trader.A trader must have to overcome his weakness,and that is his emotional fears.Believe me you can never gain huge profits if you always play safely and afraid of taking risks.

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August 08, 2018, 11:09:37 AM
 #167

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.
There are a lot of common mistakes in trading. For most of the mistakes happening due to the reasons of being greedy and improper trading capital planning. Yes, you have mentioned both of them correctly. When a trader is trading the capital which is not affordable to lose then he will never able to stick within his trading plans. Greed is another killer of our plans.
All I know about trading is that it is not something which you can learn in a week or so and that you have to spend some good period of time in learning and practicing doing trade. Only then it will be possible for you to make some positive earnings from trading. Most of the traders quit after suffering the loss and that they lose all of their hopes without even trying to learn from their mistakes.

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August 08, 2018, 08:50:05 PM
 #168

Something is always better than nothing, this is the major role of mine while I am trading I always use that, because there are natural for humans to want more and more but there is always a point when you need to stop.

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August 09, 2018, 06:19:46 AM
 #169

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.
There are a lot of common mistakes in trading. For most of the mistakes happening due to the reasons of being greedy and improper trading capital planning. Yes, you have mentioned both of them correctly. When a trader is trading the capital which is not affordable to lose then he will never able to stick within his trading plans. Greed is another killer of our plans.
That is the spirit. You learn new things and you directly apply them in your practical life be it trading or the traditional business. In addition, if you have some excellent knowledge about the technology and perfect market information, you will never loose even if you are a newbie in the crypto world. Try to explore the good coins in the crypto market list and see which can easily replicate the worth of your money.

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victorski
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August 09, 2018, 08:07:10 PM
 #170

Indeed you must diversify, because if you will rely on one particular coin it means basically that if that coin will die you will die as well. Because you won't have any opportunities to survive with another coins.

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August 09, 2018, 11:19:45 PM
 #171

I will never put all of my money into just one or two coins. Maybe that would have been better in the past, but probably not even. If that coins goes to shit, then you're screwed, rather than just losing say 5% of that particular coin. Sure it would suck not to have all your money on one coin that went 100x, but it's better than losing it all and having nothing.
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August 10, 2018, 01:15:04 AM
 #172

Diversify the portfolio! This is one of the best thing we need to do when we will start crypto trading. If we have diversified portfolio, we can avoid losing much of our investment and we can roll our capital as well. Though, it will not be a profitable much, we will have assurance that when a certain coin crash there are also coin that we are waiting for.


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August 10, 2018, 06:46:14 AM
 #173

Greedy has been given it rightful place at no 1. Greed is the number one enemy of all crypto traders. A lot of crypto-traders have this mentality that crypto is a get rich quick scheme. And they expect a coins to keep Pumping forever. Experience is the best teacher, they will learn the hard way. I am still battling to keep my own emotions in cheque. I am still a work in progress. I know I will get their eventually. Kudos mate.

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August 11, 2018, 06:48:09 AM
Merited by rickadone (1)
 #174

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.

You did all the 10 mistakes in your trading ? Very bad. I'm just entering into my crypto trading, but definitely I will not do all these mistakes in my trading. Because I am a good learner from my mistake and from others mistakes. When you are you are good listener you will always find success in any field easily.
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August 11, 2018, 08:56:53 AM
 #175

Price of crypto is unpredictable now and technical analysis is does not work, we bought on the deep but the price going to the more deep, so never forget to use stop loss anytimes you buy crypto. Chooce exchanges that provide stop limit order function to make easy to set up stop loss.

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August 13, 2018, 07:23:15 AM
 #176

but its very hard to follow all these 10 rules, i broke some of these rules and lost so much in trading
Lost so much ? Still want to try with your trading ? Why ? I am suggesting you to go for holding kind of passive trading rather than trying out something which is not at all suitable for you. These mistakes are common for any trader but not the losses. The problem is, you have experienced all these mistakes with your hard earned capital. You must try paper trading to avoid such mistakes and to learn.
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August 13, 2018, 04:00:58 PM
 #177

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.

You did all the 10 mistakes in your trading ? Very bad. I'm just entering into my crypto trading, but definitely I will not do all these mistakes in my trading. Because I am a good learner from my mistake and from others mistakes. When you are you are good listener you will always find success in any field easily.
Nothing there to feel bad on OP. It is common for any trader to commit mistakes accidentally while trading still OP came up with such a discussion to enlighten this community. Hence we must appreciate him for the time he took for sharing his experience. I must agree with you that others experience is our knowledge if we fail to learn from them then we may get enforced to commit those mistakes while trading.

On the other hand, it is always funny when people always assume that sharing knowledge/tips like this will always help them most of the time. The thing is without any knowledge on how to trade effectively, no tip will ever help. Being a trader is not something that you will need a tip for and most of those tips will come naturally if you do know exactly what you are doing in any market based on your trading knowledge which makes me agree to the fact that following any of those will simply make you safe from losses.

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August 13, 2018, 04:03:41 PM
 #178

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

Up for posts like these. This might help everybody especially those people that are new to cryptocurrencies to get a greater gains than having a greater loss.


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August 14, 2018, 08:04:23 AM
 #179

to be less greedy is the most important lesson I have learned during one year of trading, however this was an expensive lesson to me as I have experienced big losses buy indeed it is a good lesson.
One year must be an enough long a period to find out what are the mistakes to avoid and what are the tricks we need to follow to find success in trading. I understand your greed led you to big losses. Unfortunately you are not the first one but that also happened to you because you failed to learn from others mistakes.
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August 15, 2018, 10:51:21 AM
 #180

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’ve actually made some of these mistakes, especially greediness is the worst of them all, cause I can remember that as a newbie I would usually like to make lots of profit and end up with loss. But I later took correction and stopped that and started taking whatever I see. My friend also lost a lot due to this same greed issue.

As for the number four, I think anyone can sell their coins with a little loss to avoid more loss. You can still withdraw and wait for the right time for getting back in again, and if you’re lucky you will regain the little loss. If you leave it for so long, you might regret, if it wasn’t your plan to hold long-term.

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