proTECH77
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May 24, 2020, 07:00:02 PM |
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No hurry. Sometimes it's better to wait. Waiting often pays off.
Wait in terms of holding or wait when the price is down? There's more to just wait in particular, I wouldn't advice anyone to wait when the price of Bitcoin get going down, rather sell whenever there's a profit for your holdings. Don't be stingy, don't be greedy and don't be a dumping grounds for the whales. This cryptocurrency market need those who're smart and wise enough to take action whenever they're having a profit of 10% and not aiming at 1000%.
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carlfebz2
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May 24, 2020, 09:56:13 PM |
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my big lesson is probably something that has happened to many people:
when I started to trade I had some habits that don't let me think correctly, I bought bitcoin for $8000 for example and when the price dropped to $7800 I still believed that the price would go up again. When I woke up the next day the price had already dropped to $7200 and I still believed that the price would recover, it would pass a few days and the price would drop to $6800, I was irritated by it ... until I sold it and the next day the price started to rise to the point of exceeding $8000. it happened to me more than 10 times until i started using Stop - Limit and that's how the cycle of losses ended, but i must say it was a great lesson i learned and it took a long time to learn
I feel you mate I lost over 400$ in this buy and selling just because I sell my bitcoin and couldn't wait for the market price to pump again. Maybe if your not good and long term investment you should just go for buy and selling even for a small profit at least you are not losing profit, but still earning also the time that it would take before it pumps again is a lot maybe months or year so getting that profit would take a big risk so it is not really a big loss if you already sell your bitcoin for a small pump or profit, still a win situation especially if you really need the money for an emergency. Active trades with good risk management would be the key if you do like to see profits in short time basis but it doesnt mean that you wont lose profit because losing is inevitable thing and part of the learning process and the risk involved. It will matter if you are a long term holder or not and selling points will depend into your desired target.When in talks about patience then this place would really be the field that do really need up patience because if you do let yourself controlled by your emotions then youll surely lose money. Ive been into this kind of situation for how many times that i do let myself affected by fud which ended up on selling on loss from time to time and do regret when you do saw recovery after how many days.
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Swordsoffreedom
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May 24, 2020, 10:01:04 PM |
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Trading on Bitcoin for 5/6 years which I understand, actually this is a kind of investment where is nothing to say loss here, all you have to do is be patient. you just have to buy at Deep and sell when pumped. But most people do just the opposite, they continue to observe the market when it starts pumping and get up to buy when it gets pumped. after that when they see a little dump then they go crazy to sell, all in all their patience is very low. Yes, it is "patience" that I have learned by investing in bitcoin.
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online73
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May 24, 2020, 10:27:07 PM |
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Hello everybody. I thought a lot about this topic and came to the conclusion that, in fact, the biggest lesson I learned when investing in bitcoin was when I tried to trade on the exchange unsuccessfully. Nothing made me learn from my mistakes and from the mistakes of other people in my life, like losing a deposit when trading on the exchange. It is negative emotions that always give a tremendous impetus to the study of a problem in any direction of life. Investing in bitcoin is no exception.
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rexxarofmoknathal
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May 24, 2020, 10:33:31 PM |
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I've learned to do my research before investing or trading.
Back when I first got involved in cryptocurrencies I immediately made quite a good amount of profit. However, this led me to believe that I was some sort of market expert that was infallible... I was wrong.
I learned the hard way that it's possible to both gain and lose in this market. But if you know what you're doing and are well-read on the subject, you can ensure you win more than you lose.
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$crypto$
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May 24, 2020, 11:22:31 PM |
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Trading on Bitcoin for 5/6 years which I understand, actually this is a kind of investment where is nothing to say loss here, all you have to do is be patient. you just have to buy at Deep and sell when pumped. But most people do just the opposite, they continue to observe the market when it starts pumping and get up to buy when it gets pumped. after that when they see a little dump then they go crazy to sell, all in all their patience is very low. Yes, it is "patience" that I have learned by investing in bitcoin.
Patience and analytical skills that we have to do in trading and bitcoin investment where you will do the analysis according to the coins you follow, news also sometimes has its influence on prices and make purchases at the right time and sell when pumping because that is what we are difficult to guess, don't panic about what happens in the crypto market because fud news always affects prices in the market so many panic and sell cheaper.
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milo-scorpion
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May 25, 2020, 09:08:36 AM |
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Well I would like join the discussion...
My personnal opinion is that at the very beginning I was using the stop loss function, because I was scared to loose my inverstissement. By doing this, I was sometimes loosing money, sometimes earning money. Since I have stopped to use this function, I do NOT loose anything. I buy some crypto (in the top 50 usually) and wait. IF it goes down, I wait... one week, one month... until it recovers. But I do not sell if it dumps. I do not loose 1 cents now, it's my principles. I prefer to wait and see it dumping and pumping within the times, because we all know that your token will reach again your investment within the times.
So far now, I have reached 36k with a start of 19k in seven month by doing this way. I am really happy of my strategy and I love to play with the crypto market !
And one of the biggest trap according me is, do not get influenced/hype by the news (even if they are not fake), explaining all improvement regarding the token; Improvement doesn't mean pump nor dump. According me it doesn't influence at all the volatility. Be carefull of that and don't get hyped, that's a trap (a kind of FOMO I would say).
Patience + don t sell with loss = benefice only
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Le plus difficile dans la vie consiste à désaprendre ce qui n'est pas vrai
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peter0425
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May 25, 2020, 10:07:30 AM |
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No hurry. Sometimes it's better to wait. Waiting often pays off.
Wait in terms of holding or wait when the price is down? There's more to just wait in particular, I wouldn't advice anyone to wait when the price of Bitcoin get going down, rather sell whenever there's a profit for your holdings. Don't be stingy, don't be greedy and don't be a dumping grounds for the whales. This cryptocurrency market need those who're smart and wise enough to take action whenever they're having a profit of 10% and not aiming at 1000%. it has just not clarified what He tend to say,it was for the Holders that can afford to wait more time compared to those daytrading. And for me it is appropriate to wait than just look for selling even when we are at losses. Because HODLERS are those people that invested their extra money here and can even risk ,not like those people that invested to have food in their Mouth.
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onrise
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May 25, 2020, 11:51:08 AM |
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No hurry. Sometimes it's better to wait. Waiting often pays off.
This has hold true for me as initially I used to be a panic seller and the result was, I had to end up in loss every time. But slowly and steadily I understood it and according to the short- and long-term goals I invest and sell when required. So now I do not have to sell in panic times and sooner the market at times even re-bounces and gives the advantage to the holders of the coin.
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Savemore
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May 25, 2020, 03:00:46 PM |
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The most remarkable lessons that I managed to get because of bitcoin investment is that the expensive price can become more expensive or what I say buying high and selling higher is a good strategy. I became a momentum trader because of the price actions of the bitcoin back on 2017 where it achieved its current all time high. But we should remember that managing risks are important so we should not recklessly put money on something that we are not fully understand.
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lumeire
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May 25, 2020, 06:41:24 PM |
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The most remarkable lessons that I managed to get because of bitcoin investment is that the expensive price can become more expensive or what I say buying high and selling higher is a good strategy. I became a momentum trader because of the price actions of the bitcoin back on 2017 where it achieved its current all time high. But we should remember that managing risks are important so we should not recklessly put money on something that we are not fully understand.
You shouldn't always play with rallying price as you can also become the one who buys at the all time high thinking of selling their coins at a higher price as the same has been the situation for many people here on the forum. So you should avoid impulse trading and should do technical analysis or at least see what the analysts are saying as most of the times they are right in predicting the Price movement. I have also been stuck in holding the bag of altcoins by purchasing them at an inflated price during the time of a pump and had lost almost 0.2 btc that day due to greed of selling at a higher price.
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supine
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May 25, 2020, 07:37:08 PM |
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Only invest what you could afford to lose and I learn to wait patiently in order to earn more it is better to wait than to rush things in crypto. I learn to control my emotion and to stay calm in some situation crypto have taught me so many things but those are the biggest lesson that I've learn from it.
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Jamesdila1
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May 28, 2020, 08:54:27 PM |
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My advice to those who are still amateurs, newbies or new to the cryptocurrency world is to make research before making investments you can lose a lot of money if you don't conduct research first if you have a good amount of money and want to invest in cryptocurrencies it is better to diversify your portfolio to mitigate risks One of the biggest lessons that ive learnt from investing in crypto is that i did not diversify my portfolio therefore i have missed so many opportunities to gain money from tokens and coins at that time and also made myself vulnerable (the risk that i will lose my money)
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pragna
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May 29, 2020, 03:05:14 PM |
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This is very true actually. As a investor i must have to brain that profit and lose is 50 to 50 always though i am very good trader or investor. At the same time i have to patience about market recover and if market goes to down i have to average by reinvestment. But always have to select best token from market before investment so that i may recover my invest.
thanks.
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TitanGEL
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May 29, 2020, 03:13:38 PM |
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When it comes to bitcoin investing, I think that the unforgettable lesson is there is always a opportunity in massive drops, when the price crashed where it is really dropped so much; we should be prepared to the bounce that will happen. There is a popular saying which is "the higher the crashed, the higher the bounce". When the price of bitcoin crashed again, we shouldnnot be part of the people who are staying away in the market because of the panic and fear.
We should be a person who will watch the chart and have a guts to buy. It is a counter trend strategy so we should also consider the risk by having cut loss and good position sizing. If we catch the dip, then there is a high potential of getting high returns.
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siajeen
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May 30, 2020, 10:35:57 AM Merited by Eplus_Team (1) |
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My biggest lesson from Bitcoin investment is to have patience. Lots and lots of patience. There have been instances wherein I have sold my Bitcoin just before the price went up and I regretted my decision. It is better to keep a cool mind and always think about long term gain when you are investing in Bitcoin.
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GDragon
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May 30, 2020, 01:54:27 PM |
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The Uncertainty Factor:
Investment always have element of uncertainty. Its always based on speculation of success which may not always be so.
I think one of the best lessons I've learned so far in investing is to always invest money that I really don't need to used for weeks and months. In that way, I can survive the uncertainty that I will face for a few months. So whenever I face bearish season, I can still stay calm because I can really wait until it goes high again. I tried investing money that I really need expecting it to double for a week because I read it will, it didn't, and I already need to get the money so I just lost a few. One of the funniest newbie days for me.
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cabron
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May 30, 2020, 03:19:09 PM |
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The Uncertainty Factor:
Investment always have element of uncertainty. Its always based on speculation of success which may not always be so.
I think one of the best lessons I've learned so far in investing is to always invest money that I really don't need to used for weeks and months. In that way, I can survive the uncertainty that I will face for a few months. So whenever I face bearish season, I can still stay calm because I can really wait until it goes high again. I tried investing money that I really need expecting it to double for a week because I read it will, it didn't, and I already need to get the money so I just lost a few. One of the funniest newbie days for me. The lesson learned so far is that I have to expect the worse to happen and that all my investment should fail so that in case if it will I'm not gonna be surprised then. Always rely on the fiat currency because in reality its always going to be the first to be preferred by the merchants to be accepted not some coins they don't know. So when the bear market begins again, this time I won't hesitate to put all my coins on stablecoin.
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coinfinger
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May 30, 2020, 05:06:59 PM |
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I think the main lesson I have learnt from investing in cryptocurrency is to have patience and to always know the level of risk I can take. Most of us that are investing in Bitcoin and other cryptocurrencies are fond of rushing things. We don't give ourselves the time to grow, we keep rushing to make that money. This is a normal thing because we all have bills to pay and other things that we have to do with the money.
But despite that, we all must learn to have patience and not expect too much from this. And we should always be investing with a small percentage of our money and have patience and also look for other things to do. Honestly, when we are having other things to do, it will be look like we are having more patience about our investment with bitcoins and it is always good to leave our investment for longer duration in bitcoins to get bigger profits than what people do in short-term.
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alquinte
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![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
May 31, 2020, 12:59:56 PM |
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When I first got into crypto I thought that holding was the way to go.
After a while I realized that with the investments I had (which were quite small) there is no point in holding. But at that time it was already too late.
Nowadays I trade quite fast, but I still have some wallets in which I hold emergency funds.
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