Newbie traders - Learn from my mistakes

[Golftech]

hello
i have about 80 dollar in btc better to keep? for being little what I have it would be better another coin?

 your decision is already a good one. You don't have to split that $ 80 with any altcoins. because from btc profittalble it is clear. you just hold or sell it, it will still give you a good profit. Instead of giving the entire portfolio to altcoins that you are not necessarily sure of the future benefits. while bitcoin will not discourage you.

If you are not greed and you are contented with small profits, holding or keeping it as bitcoin is a good decision.

But if you are into exploring all the potentials coming from this business, there are lots of projects who are also

possible to bring you much better outcome. It's needed much longer time to review and research each possible

project to invest your money, the entire ecosystem of this crypto industry have enough if you are seeking for

more profitable and valuable assets.

[MiningBattalion]

hello
i have about 80 dollar in btc better to keep? for being little what I have it would be better another coin?

 your decision is already a good one. You don't have to split that $ 80 with any altcoins. because from btc profittalble it is clear. you just hold or sell it, it will still give you a good profit. Instead of giving the entire portfolio to altcoins that you are not necessarily sure of the future benefits. while bitcoin will not discourage you.

If you are not greed and you are contented with small profits, holding or keeping it as bitcoin is a good decision.

But if you are into exploring all the potentials coming from this business, there are lots of projects who are also

possible to bring you much better outcome. It's needed much longer time to review and research each possible

project to invest your money, the entire ecosystem of this crypto industry have enough if you are seeking for

more profitable and valuable assets.

Making mistakes is part of the learning process when it comes to trading or investing. Investors are typically involved in longer-term holdings and will trade in stocks, exchange-traded funds, and other securities. Traders generally buy and sell futures and options, hold those positions for shorter periods, and are involved in a greater number of transactions.While traders and investors use two different types of trading transactions, they often are guilty of making the same types of mistakes.

[wxa7115]

Videos are really helpful when it comes to learning because you will be seeing everything you want to learn being played out on your screen and it is more easy to understand than when you’re just reading an articles that talks about the same topic.

Be careful choosing the videos though as the helpful ones are really rare and you have to sift through all the clickbait videos in order to find the good videos. Choose only a few channels and content creators to learn from because if you were to not do that, you will only end up with a lot of conflicting ideas that will be a detrimental factor for your decisions when you are trading. OP is a good person, telling everyone about the mistakes that he/she has done so as to help other people from not making the same mistake.

This should be done for every single topic taking into account the social media age in which we are living, accuracy of the information you are given is not the top priority to those content creators since they get paid depending on the views they get so they try to create clickbait videos to attract audiences but that teach you nothing of worth.

By the way this is true as well when it comes to other media, so just because you are attending a conference or reading a book you should not think that you are safe, read the books on their merits and test what they teach you, if the test indicates it does not work then drop the book immediately as it was mostly written with the same intention as the videos on YouTube, to get your attention and make sells but that does not leave you with anything of value.

[mersal]

Every human being has to face many crises at the beginning of the business but gradually they move forward by gaining good experience about the market. No one can do business without mistakes losses must be faced and corrected not everyone is wrong in the same place business mistakes vary from person to person if you have good skills about trading techniques and its charts before trading you are less likely to make mistakes.

You can learn from mistakes but if you are too smart then you will learn from others mistakes which means you are not going to lose your money and time but experience is indeed so starting with small capital for trading is wise choice and lot of simulation available to work your trading strategies and find its effectiveness.

[peter0425]

Just admit the reality that Trading is not for everyone .

Just like the reality that Not everyone can become Millionaire , this deserves only some people.

for thousands that venture in trading , More than half fails and not because they are weak or fool but because they are not really for this.

[wxa7115]

Every human being has to face many crises at the beginning of the business but gradually they move forward by gaining good experience about the market. No one can do business without mistakes losses must be faced and corrected not everyone is wrong in the same place business mistakes vary from person to person if you have good skills about trading techniques and its charts before trading you are less likely to make mistakes.

You can learn from mistakes but if you are too smart then you will learn from others mistakes which means you are not going to lose your money and time but experience is indeed so starting with small capital for trading is wise choice and lot of simulation available to work your trading strategies and find its effectiveness.

That is the best part, people are always talking about how experience is the best teacher and they are not wrong but there is no need to make the mistakes others have made by yourself, read about their mistakes and learn from them that way when you find yourself in the same situation you can save yourself the trouble and avoid losing money in the same circumstances.

People are always focusing on earning money not understanding that learning how not to lose money is even more important as the longer you remain in the markets without a big loss the more likely it becomes you will see a big win.

[Fatunad]

Just admit the reality that Trading is not for everyone .

Just like the reality that Not everyone can become Millionaire , this deserves only some people.

for thousands that venture in trading , More than half fails and not because they are weak or fool but because they are not really for this.

Not only half but i do rather believe that 1/4 of traders are on the success side and the rest are just losers because its just normal to think that the market do composed of with buyers and sellers.
You are right that not all are meant to be traders and there would really be people who would really fail up in longer runs and its up to someone if they do pursue out to deal with things
or simply quit when they do lost money and never look back.People do have different traits and behaviors thats why you cant really tell on where they would be ending up.
Learning from mistakes is a must because you wont really be progressing out if you dont welcome those mistakes and made out some changes later on.

[isaac_clarke22]

~

Harsh reality there, mate.
To backup what you just said.
Everyone doesn't need to be a trader.
Everyone doesn't need to be one of the 1%.
As long as you earn something out of cryptos like long-term hodling, that's fine.
There's even chances that hodlers would be one day millionaires. Imagine if you were someone that hodl more than 50BTC back in 2011, dreaming to be a millionaire, where would you be right now?

[zanezane]

Just admit the reality that Trading is not for everyone .

Just like the reality that Not everyone can become Millionaire , this deserves only some people.

for thousands that venture in trading , More than half fails and not because they are weak or fool but because they are not really for this.

I did accept that a long time ago, but not because I don't have the skills or that I can't hone to become good at it but because I know how boring and taxing it is to spend time looking at chart and stats, in short my laziness is the reason for me to accept that I can't be a trader. I have to disagree with you about not everyone can be a millionaire because I do believe that when we give the people the opportunity, and if they grab it, they can definitely become one.

[worle1bm]

The one who suucceds are those who learnt a great lesson from their past mistakes and turn them into their experience.What do you think most expert traders do?They try to cover their loss by taking lessons from past and turning them into their profits or become so influential to manipulate the market accordingly.You need to be determined not to leave the market after your loss but rather cover that loss and have profit from your next trade.Profit,loss,risk will always move together and you need to understand them as early possible.Its risky market and person who is risk taker will stand on top.

[JohnBitCo]

Every human being has to face many crises at the beginning of the business but gradually they move forward by gaining good experience about the market. No one can do business without mistakes losses must be faced and corrected not everyone is wrong in the same place business mistakes vary from person to person if you have good skills about trading techniques and its charts before trading you are less likely to make mistakes.

To tell you the truth, even the experienced traders are making a lot of mistakes. Trading is something in which everyone become perfect after learning for his/her mistakes. There are people who keep on doing the same mistakes again and again and never try to avoid it. If you do not learn from your mistakes, you gonna lose money in trading.

[RealMalatesta]

To tell you the truth, even the experienced traders are making a lot of mistakes. Trading is something in which everyone become perfect after learning for his/her mistakes. There are people who keep on doing the same mistakes again and again and never try to avoid it. If you do not learn from your mistakes, you gonna lose money in trading.

They are human too, obviously they would make a mistake. No human would end up with zero mistakes, Warren Buffet turned 100k into 100 billion dollars and even he makes mistakes, he did so plenty of times in his life as well. But that doesn't change the fact that he did made a lot of money, what does that tell us? It tells us that even if you are experienced you would make a mistake but you would be profiting a lot more than you make a mistake and that is the important part.

I personally think that we are not suppose to win on each trade, but if you win more than you lose, that means you are a good trader. Let's say you start with 10k dollars, turn that into 20k and it goes back down to 18k, you are still up and that is what you should be working for, that 2k loss is not a problem as long as you have made that 10k profit first, that's how it should be done.

[CryptopreneurBrainboss]

To tell you the truth, even the experienced traders are making a lot of mistakes. Trading is something in which everyone become perfect after learning for his/her mistakes. There are people who keep on doing the same mistakes again and again and never try to avoid it. If you do not learn from your mistakes, you gonna lose money in trading.

We have individuals that makes mistakes over and over again without realizing they're making this mistakes since they aren't the ones analyzing the market which is why we're advice to engage with the market ourselves and not rely on others assumptions of how the market will react.

We can all be professional traders if we can dedicate the time and learn from our mistakes and others mistakes too. It's a smart move when we use other experience as a blueprint. It helps in reducing the amount of funds that can be lost trying to understand how the market works.

If you noticed you aren't learning from your mistakes and keep repeating them, then you need to move on as trading isn't for you, you might probably lose all your funds if you don't move on.

[tygeade]

Just admit the reality that Trading is not for everyone .

It is the harsh reality unfortunately, like not everyone can be a singer despite everyone believing they are good at singing, similarly not everyone has the required qualities for being a trader. Being in the crypto community for a long time, I have seen that a lot of guys came after others but became way more successful because they are natural traders while some still trying to find a guide that can help them trade since years.

Just like the reality that Not everyone can become Millionaire , this deserves only some people.

Deserve ain't the correct word. I would rephrase it as "Not everyone has the fortune of being a millionaire" because again, I have seen people who deserve more in life getting the least.

for thousands that venture in trading , More than half fails and not because they are weak or fool but because they are not really for this.

A thread here at bitcointalk I was reading a few days back, showed that 95% of people fail at trading so yeah more people fail than succeed at trading. I think one should try for a few years in trading and if they fail continuously without any signs of improvement, they should just stop. If one is improving then there is hope.

[onecall123]

Every human being has to face many crises at the beginning of the business but gradually they move forward by gaining good experience about the market. No one can do business without mistakes losses must be faced and corrected not everyone is wrong in the same place business mistakes vary from person to person if you have good skills about trading techniques and its charts before trading you are less likely to make mistakes.

To tell you the truth, even the experienced traders are making a lot of mistakes. Trading is something in which everyone become perfect after learning for his/her mistakes. There are people who keep on doing the same mistakes again and again and never try to avoid it. If you do not learn from your mistakes, you gonna lose money in trading.

In trading formula is quite simple, simply purchasing a coin when it's low and and then selling when the price goes high. It's also true not everyone will take the profits, to become experience traders we have to up to date with the projects. There's less risk involved if we get the things otherwise better off hodling until become a skill trader.

[gabbie2010]

Every human being has to face many crises at the beginning of the business but gradually they move forward by gaining good experience about the market. No one can do business without mistakes losses must be faced and corrected not everyone is wrong in the same place business mistakes vary from person to person if you have good skills about trading techniques and its charts before trading you are less likely to make mistakes.

To tell you the truth, even the experienced traders are making a lot of mistakes. Trading is something in which everyone become perfect after learning for his/her mistakes. There are people who keep on doing the same mistakes again and again and never try to avoid it. If you do not learn from your mistakes, you gonna lose money in trading.

In trading formula is quite simple, simply purchasing a coin when it's low and and then selling when the price goes high. It's also true not everyone will take the profits, to become experience traders we have to up to date with the projects. There's less risk involved if we get the things otherwise better off hodling until become a skill trader.

One of the problem hindering the progress of my trading is not selling at the appropriate zones at high I will always envisage that the price will continue to trend upward however on checking my trade the price would have corrected having reached a high earlier which would have earn me some profits.
I always tried to buy low which had been working well for me but greediness on my own part wouldn't allow me to take small profit I am working hard to correct it.

[Yamifoud]

One of the problem hindering the progress of my trading is not selling at the appropriate zones at high I will always envisage that the price will continue to trend upward however on checking my trade the price would have corrected having reached a high earlier which would have earn me some profits.
I always tried to buy low which had been working well for me but greediness on my own part wouldn't allow me to take small profit I am working hard to correct it.

Controlling our emotions is really, not even you say yourself I gonna hold and wait for the ATH but later on, it twisted and make fall into thinking what if the dumps will come next, I miss again.
No one gets perfect in trading, it was just a lucky day for us if we are able to sell our Bitcoin at high. Not all are committed to being patient, sometimes we got mad because of a wrong decision but it wasn't really that wrong, we just did our best and that only we can give, besides, we also have the profit already which good enough.

[bitgolden]

Trading is indeed not for the weak hands and we should not feel discourage every time we lose money because that’s the game here in the market.

We lose 5 times in a month but of course, we have to bounce back and win more than what you’ve loss. Trading is a profitable job if you take this serious, it will bring big money to you so keep learning, and keep doing good strategies every time you trade.

The thing about losses and mistakes is that, it is not about how many you make or even if you make one or not, it is about how you made one and what did happened afterwards? For example if you make too many mistakes that's bad, but if it is different each time and you never repeat the same mistake twice that means you are learning and getting better, and it is not about making one because we established that everyone makes one, do you know what matters?

If you made a mistake that anyone could have made that would be fine, and if you made a mistake then learned what it was and never made it again that matters too. So, that is why I keep saying that we should be focusing on learning from our mistakes and not focus on trying not to make a mistake because let's face it we will all make it one way or another but learning from them would be a lot better for sure.

[carlfebz2]

One of the problem hindering the progress of my trading is not selling at the appropriate zones at high I will always envisage that the price will continue to trend upward however on checking my trade the price would have corrected having reached a high earlier which would have earn me some profits.
I always tried to buy low which had been working well for me but greediness on my own part wouldn't allow me to take small profit I am working hard to correct it.

Controlling our emotions is really, not even you say yourself I gonna hold and wait for the ATH but later on, it twisted and make fall into thinking what if the dumps will come next, I miss again.
No one gets perfect in trading, it was just a lucky day for us if we are able to sell our Bitcoin at high. Not all are committed to being patient, sometimes we got mad because of a wrong decision but it wasn't really that wrong, we just did our best and that only we can give, besides, we also have the profit already which good enough.

Emotions would be the biggest factor that could really changed up someone when it comes to their decisions towards their investment.It can really be making a full u-turn anytime

specially if we do able to see some situations where we do feel out that the market might possibly be crashing that hard.In result? Panic selling which would result into loss until the recovery comes
and that time it will really be giving you out the feeling of regret.

This cycle would continue and this is how the market moves.As soon you do progress or deal with this market the more experience you would get which would really
be helpful for you to sustain in further trades.

[Ryker1]

^[snip]
As soon you do progress or deal with this market the more experience you would get which would really
be helpful for you to sustain in further trades.

Well, you have a point on this post.
More mistake to correct and more experience to learn will make you a better trader -- I believe that the experience and mistake to correct and the best teacher in trading, it seems like a blade that every time you will sharpen it give shine in every edge or every corner you will look. The same goes in trading, shine which means knowledge on trading that we can absorb while we have mistakes and will perhaps be helpful to us.