Few lessons learned from my past to keep up with crypto

[Edith1994]

I have really learn alot and continues to learn even more from my mistakes in crypto currency, especially the trading and investment accept. I've come to realize that in life, for you to become what ever you want, you must go through the ups and down of a trade or field and you must be a risk taker. I believe without my experience, I won't be able to understand more about crypto currency.
some of the lessons I've learned so far are:

1. Never be in a hurry
2. Have the spirit of holding
3. Never give up
4. Never be discouraged
5. Always trade with the right platform
6. Always trade with the rules of crypto ( escrow, never Invest what you can  afford to lose)
7. Never have the spirit of fear: fear is the number one key of failure.

[PX-Z]

Well, experience is the best teacher after all.

Another thing, don't put all your eggs in one basket, incase a hack incident even though that the trading website always tell their funds is always safe, always be vigilant and do things on your own.

[sheenshane]

You've been forgetting the most important one.

• Aim profit target and have a game plan
• Invest in what you can afford so that you can able to wait when your profit come

There are too many factors that you must consider and should learn.  I tend to agree above, practice is the best teacher and we should always learn from our mistake and avoid it in the future.  Your input will encourage newbies to manage their portfolios very well.

[TimeTeller]

Well, experience is the best teacher after all.

Another thing, don't put all your eggs in one basket, incase a hack incident even though that the trading website always tell their funds is always safe, always be vigilant and do things on your own.

Everyday is a learning day for all us, whether you are a newbie or legendary in this market.
You can't attain the expertise overnight, it is like a lifetime journey. Each day, we will learn something and a lil bit of everything.
It is the virtue of perseverance why we are still here and keep on fighting with this life.
It is good to know that there are newcomers who are not losing hope in this market.
In time, they will be the new veterans and someone to look up to when it comes to their journey in this industry.

[bitmover]

I believe without my experience, I won't be able to understand more about crypto currency.
some of the lessons I've learned so far are:

1. Never be in a hurry
2. Have the spirit of holding
3. Never give up
4. Never be discouraged
5. Always trade with the right platform
6. Always trade with the rules of crypto ( escrow, never Invest what you can't  afford to lose)
7. Never have the spirit of fear: fear is the number one key of failure.

I think most of those lessons also applies for investing in general, such as the stock market.

Hurry leads to fomo. If you are in hurry, it is probably a bad investment.

I also think that holding is usually a good idea. However, it is no shame to change your mind and sell an asset which you don't like anymore, and do not look back.

[tranthidung]

2. Have the spirit of holding

You will only be able to hold if you invest with your money. If you borrow money, use leverage, whatever source of capital which is not yours own, you won't be able to actually hold.
Loan repayment calls, margin calls, collateral liquidations, etc. will kill you and you will have to stop your hold anytime.

3. Never give up
4. Never be discouraged

It depends on what project or coin you invest in. If you invest in shitcoin, you have to determinantly give up before it is too late. In bear market, altcoins have /100 or /1000 that is not a strange painful fact you can see.

5. Always trade with the right platform

Not your keys, not your coins. It is what people talk about in crypto. That means you must own private keys or mnemonic seeds in order to actually own your coins or tokens. Store them in custodial wallets with which platforms own keys/ seeds, not you then in the end, you don't actually own anything if they pull the scam exit.

https://notyourkeys.org/

[Charles-Tim]

you must go through the ups and down of a trade or field and you must be a risk taker.

It is good to be careful and have more experience before taking risks, some risks are not worth going for. Example is that most people will think trading is fine, but they will trade and continue to lose. Taking risk while investing in cryptocurrencies like Bitcoin is worth it, the long term result should be profitable.

Another thing, don't put all your eggs in one basket, incase a hack incident even though that the trading website always tell their funds is always safe, always be vigilant and do things on your own.

Even, it is also good to never leave the coins not used for trading on exchanges just because any exchange can be hacked at anytime, moving the coins to a noncustododial wallet will give total control and left to the owner to protect its coins which should preferably be on cold wallet which is more secure.

[Peanutswar]

Most of the newbies nowadays into the crypto world always want to be part of the large earners already so once there's a trend they always chase up, once there a group tells its a good profit here they would like to invest too. Learn from your mistakes and the mistakes of other people. Always do your own research, get data, ask for data, and create that information to make sure it's accurate and lessen the possible risk. Not all the time does crypto give a profit only people who are smart always manage to survive.

[Edith1994]

• Aim profit target and have a game plan

yes I really agree with you because an investor who doesn't have goal (target),  game  plan and also strategy when it comes to investment he or she is in-between the line of success and failure.

most of this investor who fall understand these categories mostly  lose focus in their investment and that leads to lose.
And also most of the investors never continue.

So I believe that having a goal ( Target),game plan and also strategy is also a good key.

[Poker Player]

-snip

From what I see you do trading, which is a very respectable option but you would have less risk by simply studying which are the best financial assets and then simply B&H for the long term. You can keep adding to the investment regularly with DCA.

Many traders who have ups and downs and end up losing money would have much better results if they did that. Especially when you consider that the percentage of traders who make profits over the long term is very low.

What I say to do is more boring, it does not give you that thrill that hooks traders so much.

[YOSHIE]

I remember someone telling me 'if investing in crypto, never put money in daily necessities' which means: from those words I understand that if someone makes an investment, they must save money, meaning that money is turned off in crypto for a certain period of time.

If a person only sees money as a necessity of life and makes investments, he will fail all the time, meaning that person must have other income, besides seeing the money they invest.

The method you mentioned does not hurt, but if today you don't have car gas and you glance at that investment fund, pull it a little, hope will disappear and failure will accompany you when crypto skyrockets.
Crypto/Bitcoin has been running for 13 years, many people do the 'pull a little' method that is the factor that makes people always fail and fail.

[iamsheikhadil]

I partially disagree with the last one, fear is actually important else you might hold your funds in a project which is doomed for failure, but, you are correct that if we panic from that fear and sell even if it's a slow downward movement, we can never actually profit, the amount and project is not as much important as the time for which we invest it in is, for even in normal stocks and markets, if you can invest for decades with a consistent amount, you can make astronomical returns!

[Hypnosis00]

*Motivation - find a reason why we are here
*Self-confidence - it can be measured base on our decision making

These things could help us to where we should go. Aiming solely for the money isn't be in our mind as this will bother us when we suffer losses. I'd rather think about winning our greediness and ambitious mind as these are the hindrance to reaching our goal. Otherwise, failure is very near to us and mistakes come again and again.

[Daniel91]

I would add a few more things to your list 
Patience is very important, because overnight success is very rare anywhere, including in the crypto industry.
It is very important to have a goal and a clear exit strategy.
Emotions should always be kept under control and not allow sudden success to lead to excessive euphoria.
Always stay calm and stick to your long-term plan and exit strategy.
I hope this helped you.

[SFR10]

6. Always trade with the rules of crypto ( escrow, never Invest what you can  afford to lose)

A couple of things:

• How traders are supposed to trade if their funds are in escrow ^{[am I missing something?]}?
• Prior to editing the post, your sentence was already correct ^{["never & can't" or "only & can"]}.

[Yamifoud]

Having faith in what your doing is a tool for you to succeed. Failure, bad experiences, losses, etc...that all gonna be found here but because we are aiming to reach our goal, that is why we still stand and push ourselves to the limit. No easy game in the crypto investment and so we have to be
  -patient
  -reliant to our strategy
  -continue learning

Nothing becomes impossible if we really work hard but just a piece of advice, never concentrate on how to earn big but rather to aim small first.

[sunsilk]

I have really learn alot and continues to learn even more from my mistakes in crypto currency, especially the trading and investment accept. I've come to realize that in life, for you to become what ever you want, you must go through the ups and down of a trade or field and you must be a risk taker. I believe without my experience, I won't be able to understand more about crypto currency.
some of the lessons I've learned so far are:

1. Never be in a hurry
2. Have the spirit of holding
3. Never give up
4. Never be discouraged
5. Always trade with the right platform
6. Always trade with the rules of crypto ( escrow, never Invest what you can  afford to lose)
7. Never have the spirit of fear: fear is the number one key of failure.

All successful people went through a struggle, ups and downs, and frustrations and losses. What the people will look at you are the successes you've made and they're all interested to see you winning in life. But, they're not interested to know what you've been up to and what you've gone through.

It's the same in investment and growth in cryptocurrencies. The market will make you experience all of that and you're going to be happy with the results in the end because you're staying.

But if you're too disappointed at the very first results which are likely down and negative in your portfolios, you'll have to bear with that.

[Trojane]

You talk about "fear"?
Fear sometimes is the most intelligent response to overcome your inquisitive thoughts and demolish your inward zeal to doing what's gonna harm you at the tail end..Well, I know sometimes you need to sacrifice your fears to get the knowledge you lack'. It's quite fortunate that you've learnt alot and have confided in the truth which would make betters lessons for you tomorrow, good luck

[PrivacyG]

• How traders are supposed to trade if their funds are in escrow ^{[am I missing something?]}?

They likely meant you should only sell goods or do peer to peer trades through escrow.

-
Regards,
PrivacyG

[hatshepsut93]

2. Have the spirit of holding
3. Never give up
4. Never be discouraged

Only Bitcoin is worth hodling. Any other coin is very unlikely to recover if it enters a major bear market that is not tied to a Bitcoin bear market. Altcoins come and go, Bitcoin is here to stay. Which means that if you put your bet on an alt and it only goes down, better sell at a loss than hope for a miracle pump. Altcoins almost never make a comeback.