LESSONS FROM CRYPTO MARKET

[Kambal2000]

My lessons in the crypto market especially in trading is risk all the things that you can afford to lose, why? Simply because of this you can risk all the things that you have and if you lose you can cover it up eventually and you will not be suffers from a huge loss right? That would be the best motto in my life that I learned here in the cryptomarket.

Sometimes in life, it is okay to take risk, not just something we can lose. But of course, we need to learn first, and while we are learning basic trading then let us just make a capital which we can afford to lose, and once we are confident, sometimes taking risk is good, just don't invest your 100% money, just enough fund and not just $20 after few months of learning, or you are just wasting your time.

[FaMouS8828]

It's a simple but so clever opinion. I came to this point as you, for spending a couple of years. Now I have got clear goals at which moment I  buy or sell my cryptocurrencies. Unfortunately, you only start understanding it after big failures.

[supercanada1]

Problem is mentioned correctly in this thread but what's really worst to my mind, I can say that people don't learn from this lesson.
It's most common when people buy on good price, then it rises and they expect more (at some point it's really hard to decide when to sell bitcoin cause it may skyrocket or will just rise a little bit, everyone prefers chicken over egg) but how they end up is that price falls and then this fear of loss makes them to sell asap and finally they loss some or a lot instead of profit.

ugly truth sometimes people normally do not learn from their mistakes even if it happenned twice or more.
Self-discipline is really hard to achieve, it needs enough focus and motivation. I am also guilty of this.

If people cannot control their emotions and don't believe in their perception, then maybe investing in crypto is not for them, crypto investment is good if we know what we are doing, if we can find time searching things, and we know how to analyzed our mistakes, our loss, and we are also open to the opinion of others.

Well I think, if people cannot control their emotions then they should learn it because that is an important trait to carry and if they do not believe their perception regarding crypto currencies, specifically bitcoin, then they should try it themselves and they will realize what digital currencies are about. No one can ignore crypto coins for long. So it is better to indulge in them as early as possible.

[Faxmate]

Under your statement, you can draw a line and write one word "experience".
Due to the lack of experience in such a young market as a cryptocurrency, we understand our mistakes post factum, we only recognize them after a lapse of time.
More than once I came across the mistake of greed, buying a coin in the midst of its growth and then losing everything, fearing to fix the losses due to my greed and fear.
Thus, for one price pump, I fell into the trap of greed and the trap of fear. Fear of loss. All this for one simple reason - lack of knowledge.

I think most of the times, people do blunder due to lack f knowledge. Mostly investors invest due to the hype there is of digital market. Now bitcoin has produced millionaire and indeed everyone wants to become rich so they simply either choose bitcoin or some altcoin that is available at lower rate. Whenever, there is a dip or the falls stay longer than many can tolerate, panic selling takes place at large scale.

[wxa7115]

What I learned and has been the biggest lesson I've learned here in the crypto market is, never get too emotional while doing your job or business here. Getting too emotional while in the midst of the rollercoaster movement of the market cap will surely screw you and will mess up your rationality, leading you too make impulsive decisions. Since then, until now I had that lesson with me, to never let your feelings and emotions get in the way, not only in crypto space but also in every aspect of life.

That is definitely an issue many traders need to truly understand, in many other markets where the movements in the price are low controlling your emotions can be very easy since you can avoid emotions like greed and fear very easily but when this market moves 15% in a matter of hours like what it is doing now then controlling your emotions can be a real challenge and only those that have complete control over their emotions will survive.

And while many books do not dedicate a lot of time to the subject of controlling your emotions, when you trade in this market this skill is critical especially if you want to make profits in the long term.

[teosanru]

After a year, a lot of lessons that we did learn. There are 2 precious things that I think I should remember:

+ Fear
+ Greed

I learned that from my teacher, he said when you buy Bitcoin at 10k, it's then $12k your greed rises inside you and you don't want to take profit and expect more. Then, the downtrend is coming, BTC goes down to $8k, you'll be scared to cut loss, and what'll happen, you lose more while BTC drops to $4k.

So, we need to set up your expected profit point as well as the stoploss point.

How about you, what is your lesson?

i think this is a lesson that every market teaches you. Fear of uncertainty and doubt comes with this fear that you have mentioned while greed takes you into FOMO. You should know that best thing is to either HODL if you are not brave enough to fight the markets or better go for a trading strategy aligned with some risk management technique to get high profits and reduce losses. These are the only two ways to survive in these Markets.

[xSkylarx]

My lessons in the crypto market especially in trading is risk all the things that you can afford to lose, why? Simply because of this you can risk all the things that you have and if you lose you can cover it up eventually and you will not be suffers from a huge loss right? That would be the best motto in my life that I learned here in the cryptomarket.

Sometimes in life, it is okay to take risk, not just something we can lose. But of course, we need to learn first, and while we are learning basic trading then let us just make a capital which we can afford to lose, and once we are confident, sometimes taking risk is good, just don't invest your 100% money, just enough fund and not just $20 after few months of learning, or you are just wasting your time.

People need to risk of they are brave enough, people who taking risk and dont have a strong mind and heart will only leads to a bigger losses in their asset. Trading makes you feel anxious , if you have a weak mind and heart dont risk buddy, risk what you can afford to lose someday. Market is very unpredictable, take the risk together with you mind and body and learn the lesson.