Moshaid
Copper Member
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Activity: 546
Merit: 1
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July 24, 2019, 09:55:52 PM |
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I'm not much of a trader but I do feel hurt whenever I set a sell order and at the end it rise above that price, same thing with buy orders and the emotion of me losing at times affects me at that time which leads to a negative impact in my next trade, although am trying to work against that but the lesson have learnt so far is not to allow emotions cloud my actions.
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SISAR
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July 24, 2019, 11:23:03 PM |
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Less influencers, less YouTube videos watched, less following of any kind, less news of any kind consumed, less indicators used, less signals by others, the better.
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leowonderful
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Activity: 1624
Merit: 1130
Bitcoin FTW!
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July 25, 2019, 04:54:16 AM |
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Most important thing is be patient. If you aren't comfortable with market conditions at any point in time, just wait it out. You aren't forced to trade all the time, and you can certainly wait till a favorable setup appears to enter a trade, however long that takes.
Don't take too much advice from others or signals for that matter. I do look at the TA of other traders from time to time, but I mostly do my own TA nowadays. It's easy to just go and pay for signals, but there aren't any shortcuts in trading.
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el kaka22
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Merit: 1165
www.Crypto.Games: Multiple coins, multiple games
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July 25, 2019, 08:27:08 AM |
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I think mine is staying calm, I have been in many storms of bitcoin, seen the 2014 period as well and now seen the 20k and down to 3k and back up to 10k so I know what the bitcoin world is about and how it could change the prices constantly and even during the times you feel you are doing fine it is actually preparing for a bad time for you.
Hence, right now the most important thing I learnt about bitcoin is staying calm, if during the storm I can stay calm and make clever decisions then instead of getting hurt by the unexpected things I could actually take advantage of those and make a profit. Two mouse is dropped into cream, one tries so hard to get out but drowns itself in it while trying hard to get out, the other waits for cheese to go cold and just climbs out of there.
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emberbekas
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Activity: 1904
Merit: 1000
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July 25, 2019, 09:39:20 AM |
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I think mine is staying calm, I have been in many storms of bitcoin, seen the 2014 period as well and now seen the 20k and down to 3k and back up to 10k so I know what the bitcoin world is about and how it could change the prices constantly and even during the times you feel you are doing fine it is actually preparing for a bad time for you.
Hence, right now the most important thing I learnt about bitcoin is staying calm, if during the storm I can stay calm and make clever decisions then instead of getting hurt by the unexpected things I could actually take advantage of those and make a profit. Two mouse is dropped into cream, one tries so hard to get out but drowns itself in it while trying hard to get out, the other waits for cheese to go cold and just climbs out of there.
Indeed, with such volatility, keep calm and believe that someday our recent losses, if we are in such a situation, will be covered or even we could get some profit from it. Patience is something that gradually becomes awareness after I start crypto trading. Btw, the parable with the mice is really interesting and very inspiring.
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Ararbermas
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July 25, 2019, 10:45:01 AM |
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The lesson that I've learnt in trading is always be a patient and avoid panicking . Must control your self when there's a scenario happen on the growth rate of your coin. Wherein always build a new strategy instead and don't ever give up because that's the only key to become successful trader. And lastly next time before putting money in some coin must ensure thar in the future it will give back a good return! Because that's the most important which just to avoid risky situation.
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Nhebu
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July 25, 2019, 11:20:46 AM |
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I have been in forex and stock market for more than 10 years and I have learned a lot of things and I am trying to unlearn many things in other to focus on the one that works. Many people do keep a trading journal but I have never done that. I only write done my trading plan and strategies. In 2017, I came into cryptocurrency trading and tried to abandon the forex and stock trading and though there look similar I see some differences in stability and volatility. Cryptocurrency is volatile and in a few minutes, you can lose all your capital or miss a great opportunity. the greatest thing I have learned is: when people are commenting "bitcoin is going to $20,00, bitcoin is hitting $50,000 before the end of the month! Be careful and sell because the market is about to reverse. If people started commenting that bitcoin is falling to $5500 or $3000" it means the time to buy and I have followed this simple strategy in trading and it seems the best investment strategy that follows professional's stocks investors trading principles. I will like you to share your stake on this so we can all learn.
Don't trade with your emotions. If you will be lose by the emotions you are feeling then it could not be a profitable in your trades. Let us execute our trades using our set of plan and if it goes wrong, we should not blame ourselves. Because many people, even pro traders are losing money because of the market condition.
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South Park
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July 25, 2019, 05:24:59 PM |
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I learned that trading isn't made for me. I don't have the patient to hold coins longer then a few weeks. I also experienced that when i bought coins, it went down and after i sold some they went up. So after admitting I wasn't a good trader I just stopped it. Maybe I will try it next year. Maybe I got some more patient.
Trading is for everyone, and anyone that is committed to it would definitely make it, and when it comes to commitment, it means you must have enough sacrifice lots of your time and energy to out into its study and try as much as possible to gather enough strategies, you also need to do enough practice before you think of going into trade. Anyway, you have made the right decision to first stay off trading for now, and that is what a wise man will do, but if you plan to still come back, I will advise you don’t just stay away without developing more in it, I believe that you lack the strategy which is why you are losing your trade, you need to learn and practice more, and thank God that we have demo cryptocurrency trading platforms now that you can use. One of the lessons that I have learned is that trading is not for everyone, at first glance it may seem like it is since you do not need any kind of special skills to become a trader but some people simply lack the psychological strength to become traders, it can be quite a challenge to keep holding your position when the market begins to move against you and cutting your losses can be extremely difficult if you have lost a significant amount of money, at the same time when the market begins to move in your desired direction it can be a problem to let your winners run since many traders just want to secure their profits and they can miss huge movements because of it.
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Vaculin
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July 25, 2019, 09:19:16 PM |
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I have been in forex and stock market for more than 10 years and I have learned a lot of things and I am trying to unlearn many things in other to focus on the one that works. Many people do keep a trading journal but I have never done that. I only write done my trading plan and strategies. In 2017, I came into cryptocurrency trading and tried to abandon the forex and stock trading and though there look similar I see some differences in stability and volatility. Cryptocurrency is volatile and in a few minutes, you can lose all your capital or miss a great opportunity. the greatest thing I have learned is: when people are commenting "bitcoin is going to $20,00, bitcoin is hitting $50,000 before the end of the month! Be careful and sell because the market is about to reverse. If people started commenting that bitcoin is falling to $5500 or $3000" it means the time to buy and I have followed this simple strategy in trading and it seems the best investment strategy that follows professional's stocks investors trading principles. I will like you to share your stake on this so we can all learn.
Don't trade with your emotions. If you will be lose by the emotions you are feeling then it could not be a profitable in your trades. Let us execute our trades using our set of plan and if it goes wrong, we should not blame ourselves. Because many people, even pro traders are losing money because of the market condition. I have learned to control my emotions and be patient when trading. Because trading itself is very risky having a market price that changes from time to time so traders should keep on monitoring the price charts so they won't go wrong. And controlling my greed is one thing that helps me too to make more profits than losing the other way.
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mr_random
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Activity: 1344
Merit: 1001
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July 25, 2019, 10:29:08 PM |
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I have been in forex and stock market for more than 10 years and I have learned a lot of things and I am trying to unlearn many things in other to focus on the one that works. Many people do keep a trading journal but I have never done that. I only write done my trading plan and strategies. In 2017, I came into cryptocurrency trading and tried to abandon the forex and stock trading and though there look similar I see some differences in stability and volatility. Cryptocurrency is volatile and in a few minutes, you can lose all your capital or miss a great opportunity. the greatest thing I have learned is: when people are commenting "bitcoin is going to $20,00, bitcoin is hitting $50,000 before the end of the month! Be careful and sell because the market is about to reverse. If people started commenting that bitcoin is falling to $5500 or $3000" it means the time to buy and I have followed this simple strategy in trading and it seems the best investment strategy that follows professional's stocks investors trading principles. I will like you to share your stake on this so we can all learn.
If you are coming from forex and stock market trading, you have to be able to observe market patterns with the naked eye. It is hard to detect a trading pattern on the bull market but it becomes a really mess trading during a range trading. There is no need to be on the right side of the market in the crypto market but it is unacceptable in the stable markets(Forex, Stocks, CFD). Clicking to sell and buy buttons doesn't make a person trader.
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Slow death
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Activity: 3136
Merit: 1121
Leading Crypto Sports Betting & Casino Platform
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July 25, 2019, 10:52:01 PM |
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I hope it doesn't offend anyone, especially the altcoin creators... but the lesson I learned was that I should never trade shitcoins and never use shady exchanges like yobit. I have sold my stuff in the past and bought shitcoins to trade on yobit, something that made me lose 100% of my investment, my time and my very optimistic spirit. It was a life lesson for me and I sincerely hope that people don't buy shitcoins, people shouldn't be too greedy and blind to the point of buying shitcoins to trade Here is one of the shitcoins I had bought in the past: https://coinmarketcap.com/currencies/jewel/#charts " Jewel (JWL) "Rank: 1966[ANN][PRE-ICO] Jewel - The real diamonds![](https://ip.bitcointalk.org/?u=https%3A%2F%2Fi.imgur.com%2Fmwro5Gi.png&t=665&c=npTXZNt1nPv26Q)
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nydiacaskey01
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Activity: 1834
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July 25, 2019, 11:58:07 PM |
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Stick to your plan, that is the lesson I learned in trading and till now I am still kicking my self for not sticking to my plan when NEO reached the price of $80 and not selling it. I bought it when its price is below $20 then it surged to $80+ then dropped and did not recover anymore after China fake news. Expensive way to learn.
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jonaire99
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July 26, 2019, 04:00:19 AM |
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I learned that in crypto trading, there are also no guarantee that your strategies will always work. I had to re-study my style of trading or revise my old strategies to make it work in the future trades. The plan you are created years ago might not work in the next few years not all market conditions are the same.
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juperos
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July 26, 2019, 05:01:59 AM |
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No, I don't think the traders' excitement makes the value of the coins go down. that is not a sign. I think, the crypto market always moves on the chart and I have actually witnessed that. I used to buy coins at very high prices and lost many times. So I learned that there are some very familiar charts and I saved it in notes. And now, I seem to have predicted many times correctly even though the numbers are not certain. Let's learn technical analysis, you will be able to predict the whale's strategy.
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RealMalatesta
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July 26, 2019, 11:12:49 AM |
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I learn a lot of lessons, never buy when price goes up, never try to recover fast after get a loss and the most important never panic when see something bad news, and always wait to see what happen and not take a fast decision which can be wrong.
Who would ever buy when the price goes high, except the trader does not even understand what trading means. For a normal investors that know not much about trading looks for deep to buy, so I don’t see why someone who is practicing trading fully should do that. The only people I see doing this are probably newbies, who still does not understand when the market is already at peak, and when the market will make a reversal. The aspect of never panic sell is one of the main thing too that I have learnt in trading, if we are trading the right coin like bitcoin and the price is going down against our trade, it is best to just leave the market and them keep waiting for the market to rebound, because once you panic sell, you have automatically lost the trade, and since there is chance for the market to revive unlike Forex no matter how low is, then there is no point to panic sell.
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SirLancelot
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July 27, 2019, 07:32:28 AM |
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Don't trade with your emotions. If you will be lose by the emotions you are feeling then it could not be a profitable in your trades. Let us execute our trades using our set of plan and if it goes wrong, we should not blame ourselves. Because many people, even pro traders are losing money because of the market condition.
It is good to have a winning mentality, but we still have to know that in reality, there are times we will win and there are times that we will lose, and out of emotion, people want to quickly make up with their losses, but rather than applying emotion like you said, we should just simply earn how to always strategize, if we strategize and we still loose in our trade, we should always take that losses as an experience, and as an opportunity to improve in our skill. A time will comes that we will see that we have completely overcome our emotion, and then learn through our experiences that has made us a better trader. I believe that anyone can trade and be successful, provided that we apply the right approach to it, and we are committed to learn, then we can make it.
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lienfaye
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July 27, 2019, 07:53:12 AM |
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The lesson I learned in trading is to have a long patience.
Because not all the time you can take profit, you need to know the right timing on when to buy and sell.
But because I cant wait longer before, I tend to panic sell often especially after reading some bad news about crypto and this led me to more losses.
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MonsterV
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July 29, 2019, 03:57:57 PM |
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Most important thing is be patient. If you aren't comfortable with market conditions at any point in time, just wait it out. You aren't forced to trade all the time, and you can certainly wait till a favorable setup appears to enter a trade, however long that takes.
Don't take too much advice from others or signals for that matter. I do look at the TA of other traders from time to time, but I mostly do my own TA nowadays. It's easy to just go and pay for signals, but there aren't any shortcuts in trading.
Be patient is a difficult part to have, sometimes I myself cannot control to be patient. In fact, I often participate in FOMO when trading, even though I myself have done technical analysis. Honestly, someone who has experience in trading, actually does not escape mistakes. Mistakes for not being greedy, mistakes in being patient, so far I have been able to control but not completely. Well, as I said, it's very difficult, I'm also sure you sometimes do it.
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bastian466
Sr. Member
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Buzz App - Spin wheel, farm rewards
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July 29, 2019, 05:05:02 PM |
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What I found for myself in trading, you do not have to trust anyone and listen to anyone. Only your head and your observational and analytical skills count, nothing more. I rely only on myself, if I make mistakes, it is my own fault
If my self view is doubtful to consider the decision not to make a mistake, I often hear the views of others, but if the view can be beneficial and makes me confident, I can accept it naturally if it is true
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South Park
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July 31, 2019, 01:36:07 AM |
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The lesson I learned in trading is to have a long patience.
Because not all the time you can take profit, you need to know the right timing on when to buy and sell.
But because I cant wait longer before, I tend to panic sell often especially after reading some bad news about crypto and this led me to more losses.
Once you develop a strategy that can beat the markets many people have the tendency to think that from now on making money in the markets will be easy but that is just when the real challenge appears, the next step is to stick to your system and to follow it no matter what happens and for that you need to have patience, you must remember that most traders lose by trading with their gut and to become a successful trader you need to go against it, which is something that requires a huge level of discipline that most people do not have.
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