your worst mistake

[chikading2016]

I am a newbie on this forum. My main focus is trading ( crypto) I have been trading for a couple years. Just curious to ask a question : what was your worst mistake ( in the very beginning, 1st year).
Would be happy to read about your experience !

My worst mistakes is not holding btc in long term, i was easily become afraid when price drop and sell everything emediately in short I am a panic sellers before and that was my big mistakes, after i loss so many profut I realize how important patience is, it only I have a big patience i can maybe get a big profit but it is really hard to hold when crypto is on dip fear is always there so for now I am trying to control may emotion to avoid losses.

[1715530607]

1715530607

[kesmex]

I am a newbie on this forum. My main focus is trading ( crypto) I have been trading for a couple years. Just curious to ask a question : what was your worst mistake ( in the very beginning, 1st year).
Would be happy to read about your experience !

My worst mistakes is not holding btc in long term, i was easily become afraid when price drop and sell everything emediately in short I am a panic sellers before and that was my big mistakes, after i loss so many profut I realize how important patience is, it only I have a big patience i can maybe get a big profit but it is really hard to hold when crypto is on dip fear is always there so for now I am trying to control may emotion to avoid losses.

You must be able to control yourself more because the panic or fear comes from ourselves,
You can also learn from that experience because for me it is much more effective,
What is clear is that we all feel panic when bitcoin goes down and for me it's normal as long as we don't panic

[zanezane]

Without proper backtesting-papertrading and money&risk management, just jumping on the trade. Also valuing other people's ideas and advices more than my own research and ideas.

Paper trading is the most helpful in my opinion because you gain the much needed experience to trade without the added risk of losing real money. I think my biggest mistake is I didn't enter the market really early.

[Pamadar]

Without proper backtesting-papertrading and money&risk management, just jumping on the trade. Also valuing other people's ideas and advices more than my own research and ideas.

Paper trading is the most helpful in my opinion because you gain the much needed experience to trade without the added risk of losing real money. I think my biggest mistake is I didn't enter the market really early.

Learning things deeper before investing huge amount of money into this business.

It helps a lot when you are preparing yourself, using virtual account and practice everything before dealing with it using your real balance, the

more you understand the market the more chances you are bringing to your investment, A very common mistake that most if not all traders has been done while working into this venue of investment..

[andriarto]

Without proper backtesting-papertrading and money&risk management, just jumping on the trade. Also valuing other people's ideas and advices more than my own research and ideas.

Paper trading is the most helpful in my opinion because you gain the much needed experience to trade without the added risk of losing real money. I think my biggest mistake is I didn't enter the market really early.

Learning things deeper before investing huge amount of money into this business.

It helps a lot when you are preparing yourself, using virtual account and practice everything before dealing with it using your real balance, the

more you understand the market the more chances you are bringing to your investment, A very common mistake that most if not all traders has been done while working into this venue of investment..

to understand the market we are required to practice doing transactions often so that we will experience problems and success in every transaction. that way we can evaluate both of them, so that over time we become more adept at trading. and we must be able to enjoy the process, because every professional trader would have done the same thing before

[dezoel]

Honestly I was not sure what's going to happen with bitcoin during this down, and I bought only a bit at around 33-34 levels and I could have bought maybe a bit more, I didn't have any money but I KNEW that it would go up, that's why I bought only tiny bit because that's all I had but if I knew that it would go up, I could have found money some other way, get a loan or something, ask your friends if you have to, there could have been a lot better.

However that's obviously not my biggest regret, I have been in crypto for 8 years and that means if I invested all in back in the day at the 64k peak I would have been richer than kings, I would have the chance to actually spend 5 million dollars on useless stuff and still would have 5 million more to retire, that's how much I would have owned by now.

[South Park]

Every beginner who is new to the world of crypto, especially crypto trading then it will experience failure due to some mistakes.
Not just you, but it happens to all beginner traders including me.
The more you have flying hours, the more you have strategies to minimize losses. But at least to become a crypto trader then,
we have to be prepared to lose.

It is true that everyone makes mistakes at the beginning of their trading careers, that is inevitable but at the same time the number and the magnitude of those mistakes is going to change depending on your level of knowledge when you begin to form part of this market, the newbies that did not took the time to make any research about this market will suffer a lot more than those that know a few trading strategies and understand the nature of the market and its purpose.

[MCobian]

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I can understand how you feel when investing in many ICOs and then losing a lot of money, I have also had that terrible time. Even now, I don't even
dare to invest in shitcoins anymore, I still can't forget the trauma of the losses I experienced. I am quite amazed at those of you who still dare to invest
in coins with a low cap, even though the capital you use is not large. Still, if we experience a loss, it still hurts, but I hope you will succeed with investing
in the coins of your choice.

I am sure that when investing, almost everyone has experienced losing a lot of money,
and indeed it is a bitter experience and not everyone can dare to invest in shticoin anymore,
behind this bitter experience, I'm sure it can be used as a lesson for the future

The bitter experience in investing crypto and resulting in losing a lot of money is indeed something that is difficult to avoid in the crypto world.
We can make this bitter experience a lesson not to make the same mistakes when investing in crypto, because successful investors must be able
to learn from every bitter experience they have ever experienced. Usually someone would not believe investing in shitcoins is a bad choice,
before experiencing it for themselves.

[zanezane]

~

Learning things deeper before investing huge amount of money into this business.

It helps a lot when you are preparing yourself, using virtual account and practice everything before dealing with it using your real balance, the

more you understand the market the more chances you are bringing to your investment, A very common mistake that most if not all traders has been done while working into this venue of investment..

Good things I have learn this things that you have said when I enter the market with my friends giving advice what to do to not fuck up my first time. I do agree with the last part, practice trading helps a lot to ready yourself for the real thing.

[milewilda]

I think my worst mistake is try to become a day trader. I have many winning trading, but for 1-2 fail trade with over leverage, all my funds gone. It's really hard to comeback from that mistake and i have been stressful many days. 

Majority that do end up on doing leverage specially on higher number will surely be wrecked in the end of the line.Lots are just really too impatient on making big profits and thats why they do end up with this option without realizing on the risk involved with leverage trading until they do realized that
its already too late. Due to greed and other common reasons then mistakes like this are really that not rare. When it comes to mistake counts
then i do have lots and i wont really be mentioning it 1 by 1. Thing here is that you do learn up into those mistakes which would really make you as a
better investor.

[South Park]

I think my worst mistake is try to become a day trader. I have many winning trading, but for 1-2 fail trade with over leverage, all my funds gone. It's really hard to comeback from that mistake and i have been stressful many days. 

This is understandable as day trading is the hardest way to make money in the markets especially if you are using leverage and the market turns against you, I just hope that you have learned your lesson, if just one or two trades are enough to wipe out your capital then the risk that you were taking was too high, in my opinion if your capital cannot resist 20 losses in a row there is no point in becoming a trader as sooner or later you will lose all your money.

[Ziskinberg]

I think my worst mistake is try to become a day trader. I have many winning trading, but for 1-2 fail trade with over leverage, all my funds gone. It's really hard to comeback from that mistake and i have been stressful many days. 

This is understandable as day trading is the hardest way to make money in the markets especially if you are using leverage and the market turns against you, I just hope that you have learned your lesson, if just one or two trades are enough to wipe out your capital then the risk that you were taking was too high, in my opinion if your capital cannot resist 20 losses in a row there is no point in becoming a trader as sooner or later you will lose all your money.

Trading is not for everyone and we have to understand this.

And if we can see that we are consistently losing, this means that this is not the right place for us. Some people may say quitting is just like giving up, maybe it was but there no sense at all if we saw that the results are still the same. We don't want to lose our hard work money and so there is no reason why we should have to force ourselves knowing that there is no chance.

[South Park]

I think my worst mistake is try to become a day trader. I have many winning trading, but for 1-2 fail trade with over leverage, all my funds gone. It's really hard to comeback from that mistake and i have been stressful many days.  

This is understandable as day trading is the hardest way to make money in the markets especially if you are using leverage and the market turns against you, I just hope that you have learned your lesson, if just one or two trades are enough to wipe out your capital then the risk that you were taking was too high, in my opinion if your capital cannot resist 20 losses in a row there is no point in becoming a trader as sooner or later you will lose all your money.

Trading is not for everyone and we have to understand this.

And if we can see that we are consistently losing, this means that this is not the right place for us. Some people may say quitting is just like giving up, maybe it was but there no sense at all if we saw that the results are still the same. We don't want to lose our hard work money and so there is no reason why we should have to force ourselves knowing that there is no chance.

I agree with this, in this day and age many people think that everyone can do everything and this is simply not true, there are some people that simply do not have what it is necessary to become a good trader and if they recognize this then there is nothing wrong with leaving the market and use their time more productively, however I think there are many people that do in fact have what it is necessary to become good traders but they squander their talents by their desire to get profits in an extremely quick manner.

[Cryptopher]

Getting into cryptocurrencies. Haven't had a decent night sleep since 2013 haha. Nah, probably my worst mistake was not holding my Bitcoin and Litecoin stash from 2014/2015 - would have been able to retire!

[CapGelatik]

recently i made a big mistake in my crypto life, yes i lost $1000 in futures trading on binance,
i am now really frustrated with this loss, and i'm tired of playing futures again, really sucks,
How? should i be able to hold this emotion mate?, seeing my balance going to 0 on binance makes my heart hurt even more,

[slaman29]

recently i made a big mistake in my crypto life, yes i lost $1000 in futures trading on binance,
i am now really frustrated with this loss, and i'm tired of playing futures again, really sucks,
How? should i be able to hold this emotion mate?, seeing my balance going to 0 on binance makes my heart hurt even more,

The clue here is in the way you view trading. Playing futures means you treated it like gambling, where we all know the eventual outcome for that is entire loss.

Trading with stop losses prevents you from losing your entire capital and if that even causes you to bust then you at least know trading's not for you.

Take my tip: trading is not for most people.

[South Park]

My biggest mistake 3years ago is investing in projects without any research and many of them died with time. With a bit of research, I could have done so well since I was in good time to invest in crypto.

This is the common mistakes of every beginner, I also invested almost $500 before in a project token without doing any research about it and end up losing it all, I also invested in a scam investment website that offers to double your money for just one day and just end up also being scammed. Hoping that beginners wouldn't do the same, they can avoid these things if they will do research first before engaging in it.

Newbies could avoid making those elementary mistakes but most of them do not because they do not have a realistic view of the markets, it seems they do not understand this is a competition and if they happen to earn some money then someone else has to lose which means that there needs to be more losers than winners, but for some reason they think that by just entering the market they are owed profits and nothing could be further from the truth.

[lalabotax]

You should be a professional trader here because have been trading for several years. I hope that you can share your best strategies to be done in trading here. So it will be more contributive.
About the worst experience in trading, I think that it is about being greedy and panic at once. We should have the target to buy and sell our assets. But sometimes I feel like the price will gi higher and higher again. And this is too late to sell because the price, in fact, drops a very lot. And when the price continues to drop, we panic and sell.

[newdevices]

You should be a professional trader here because have been trading for several years. I hope that you can share your best strategies to be done in trading here. So it will be more contributive.
About the worst experience in trading, I think that it is about being greedy and panic at once. We should have the target to buy and sell our assets. But sometimes I feel like the price will gi higher and higher again. And this is too late to sell because the price, in fact, drops a very lot. And when the price continues to drop, we panic and sell.

You don't have to be a professional trader if you want to survive the cruel trading of the crypto world,
many say that the crypto world is not suitable for a new trader, that's not true, because if a new trader wants to learn and control greed,
I guarantee that person can make a profit, although volatility is high if you are able to master TA then volatility is just a wave

[Ebede]

My worst mistake was trading without setting SL. I was monitoring my trade not until my phone went off. I took my power bank, someone has drained it without my consent. And I was not ahome. Before I could power my phone and log in, I have ran into high digits losses 😭😭😭😭. The day was dawn on my side and the night came again.