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Author Topic: 11 Mistakes you should never do in crypto trading✌✌  (Read 1693 times)
pitiflin
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June 26, 2018, 10:46:38 PM
 #21

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%.
Everyone is greedy. Even the rich billionaires who do charity work were greedy at one time. There's no harm in being greedy, until you have sound proof backup plan.
2/ Never buy altcoins when bitcoin price is unstoppable.
That point shouldn't counted. Technically all the prices are unstoppable, but economically impossible.
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.
Shh. Don't tell them the secret.  Angry
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.
Or in fiat, depending upon personal preference.
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.
You think everyone knows what day trading. They think that if you buy in the day time and keep it for a few days, it is called day trading.
8/ Don't do trading with your emotions keep them aside.
That is also not possible,unless you're a zombie like me. If you put like 100k$ in different trades, and all of them are dumped, will you be emotionless?


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June 26, 2018, 11:24:46 PM
 #22

I would also add such a factor as a belief in good. Without faith, any profession is insignificant, and the man himself, too, without faith, will not achieve anything, even if he is very educated.

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June 26, 2018, 11:34:29 PM
 #23

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

It's almost like a ten commandments for cryptocurrency. But I guess it was all just the basic strategy in trading and it would help a lot for those new traders. This would definitely make a difference if used as a guide for newcomers.

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June 27, 2018, 04:46:50 AM
 #24

Useful tips
thanks for sharing.
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June 27, 2018, 05:38:44 AM
 #25

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

Agree with you but for me, it's look like basic psychology method. This post should do to protect your asset from you not from the market or other people. Most people loss because they can't control their mindset and emotion, profit not always become the main purposes. Do your post and practice will make better result.

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June 27, 2018, 06:02:09 AM
 #26

This is helpful to us not only but the priority for this is newbie who are start trading. Because they have newbie trader who did not read anything and they start trading and the result is failes or losing money. Better to read a lot of information about what you should do or not should do while you trading because it helpful to you to become successful or to earn money.

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June 27, 2018, 06:08:45 AM
 #27

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

Nice tips and suggestion, overall those are some of risk management that should be considered by a trader beside technical and fundamental analysis. To add your tips and suggestion, here my thread for further additional reference: https://bitcointalk.org/index.php?topic=4546469.0 (Risk Management On Trading To Optimize TA and FA and Reducing Psychology Effect)
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June 27, 2018, 06:56:52 AM
 #28

2/ Never buy altcoins when bitcoin price is unstoppable.
How do you know when an altcoin is unstoppable every changes can happen on an altcoin and unpredictable things may occur in crypto currency as long as someone has money to manipulate all changes of course it needs an incredible amount what would be the point if you just invested million it will only grow a little depends on the volume.

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June 27, 2018, 07:58:29 AM
 #29

Thanks for the amazing tips.
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June 27, 2018, 08:06:59 AM
 #30

Agree with all that and would add also not to listen to false information from untrusted sources like social network. They can often create panic and make you do wrong decisions. And I realy think that false information are a big problem in Bitcoin community.
But I guess many people don't trust other people experiences and mistakes, they have to make their own to learn. It's much harder way but sonetimes only this helps.

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June 27, 2018, 08:15:32 AM
 #31

Thank you for the sharing! If pick one of the most significant one, i would say you should avoid panic sell in any circumstances. As a market that is easily manipulated by news and fuds, you may suffer tremendous loss if you choose to cash out in a panic way when the market suddenly turn downward without any reason or being affected by some regulatory policies. One example for this is Chinese ICO ban back in Sep. 2017 when a lot of investors choose to cash out (including me) and sold all the crypto assets in a super cheap price. And if you look back ans say it you choose to hold or even accumulate more cheap ones during that period of time, most of them will bring you a tremendous amounts of profits!

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June 27, 2018, 08:48:25 AM
 #32

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%.

10% profits is pretty high if you ask me. I respect your opinion on the 10% profits don't get me wrong on that but in this trying times in Cryptocurrency, waiting for your investment to earn at least 10% might give you more of a headache than profits. Lowering it down to 4% - 6% or even lower is better and achievable in this bear market that we are experiencing for now.

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Bitinity
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June 27, 2018, 09:29:13 AM
 #33

From those 10 tips, I'm interested to comment on the 4th tip.

Quote
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.

Basically selling at loss is OK if we know when the right time to do it and what to do next after selling it. Sometimes I sold my investment at lost when the price start dropping down and if I know it will continue going down then I'll sell it in order to buy it again with lower/cheaper price. Indeed it is risky, but I believe it will be more profitable to do so rather than just holding it till the price grow up again for unknown time.
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June 27, 2018, 10:46:28 AM
 #34

In trade between the best coins then the upheaval will always exist, no matter how panicky there is no danger in this Cryptocurrancy world, if the price goes down then do not sell because the price will go up when the sale will lose. All of the things listed above are the postal effect it means that it is a statement. Again if you are going to experience a loss on the way and you are really eager to pursue your trading career then you will move forward safely.
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June 27, 2018, 11:44:47 AM
 #35

I would add one more item to this article, which at the moment is very relevant. This paragraph: Do not follow someone else's opinion and remember the original purpose of coming to the cryptocurrency market.
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June 27, 2018, 06:19:41 PM
 #36

From those 10 tips, I'm interested to comment on the 4th tip.

Quote
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.

Basically selling at loss is OK if we know when the right time to do it and what to do next after selling it. Sometimes I sold my investment at lost when the price start dropping down and if I know it will continue going down then I'll sell it in order to buy it again with lower/cheaper price. Indeed it is risky, but I believe it will be more profitable to do so rather than just holding it till the price grow up again for unknown time.
Technically, selling at loss price is not OK and this is better to do research before invest into a coin and always invest into coin with better utility. Besides,is if you carefully read what the OP said in #4 you will know what I mean.



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June 27, 2018, 06:29:04 PM
 #37

Trading was totally a mistake I've made to me, I switched to holding though I've lost lots of money this year I like holding and hate trading. Trading is huge mistake  Cheesy
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July 01, 2018, 01:30:05 PM
 #38

Very appreciated the 1.3 and 5 point they certainly need to show and read to all newcomers and follow these rules all the time while they trade crypto currency.
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July 01, 2018, 01:49:35 PM
 #39

From those 10 tips, I'm interested to comment on the 4th tip.

Quote
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.

Basically selling at loss is OK if we know when the right time to do it and what to do next after selling it. Sometimes I sold my investment at lost when the price start dropping down and if I know it will continue going down then I'll sell it in order to buy it again with lower/cheaper price. Indeed it is risky, but I believe it will be more profitable to do so rather than just holding it till the price grow up again for unknown time.
Yes selling at loss is not always wrong we can make money with that to or to stop further loss and we need to buy them when the price is much lower which can eqaulize the loss we made before.Another way we can do is buy more coins when the price hits bottom line but the fact is that we don't know what is the bottom line.

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July 01, 2018, 03:05:42 PM
 #40

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 only means that, avoid getting emotional when you see your coins falling. Try not to panic sell because it doesn't help. Just remain calm when bear market strikes because of its usual thing. Be patient on holding your coin until it reaches the best price to sell.

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