My thoughts and now my experience.

[Cynthia_sinach042]

Hello everyone I joined this forum over a year now and I was very excited to join. I warmly by the forum members and I felt very welcomed. I had great ambition oh well I think my ambitions were overly much.

I had some thoughts about cryptocurrency and I thought they were enough for me to achieve all I had come here for.
I didn't spend much time and jumped into the crypto market and I guess it swallowed me. I ventured into investing, trading, schemes and everything that I thought would give me profits. How wrong I was, I made bad investments that were from my imagination that anything I touched in crypto would favour me all I had to do is buy a low and affordable coin and hold.

Long story short I have some coins in my possession that are dead and from reality now those coins won't rise again.

   My thoughts and now my experience that newbies like I was can learn.

1. Emotions thoughts and feelings can hurt you if they were not researched.

2. You haven't learnt enough just yet. It's not wise to invest with your kindergarten knowledge, take time to on them first.

3. The news can be a disguised trap, I made many investments because I followed the news and what many people were doing, this is a foolish move.

4. Diversification that has no research behind it is foolish. I had thought that once you diversify you can do wrong, how wrong I was. You always have to diversify making use of research and don't be in a hurry to buy.


I have experienced the bitter side of Cryptocurrency and now I don't need someone to tell me that crypto can bite. Moving forward I would pay more attention to learning and asking questions too, all I can say to the newbies is that grow your brain before you try to grow your portfolio.

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[_morghulis]

"Experience is the best teacher"- though I've been a member of the altcoinstalks community and throughout my stay there they've been some threads about how some users made mistakes by rushing to invest without carrying out proper research about the project which lead to them losing their funds.

Judging by one of your earlier thread you made concerning your friend's mistake. I saw many users giving you advice that would have helped you from making any irrational decision but you still chose to ignore them.

Just as they say "First you Learn, then you remove the 'L' and you Earn."-

I hope this will also serve as an example to other newbies out there, that there is not shortcut to success you have to put in the effort and don't just rely on what others think.

+ don't investment with money that's not yours or you can bear losing
+ don't fall for smooth promises
+ investigate what you want to invest in

These would also have been helpful if you had applied them.


~Valar~

[alik111]

Your last line was amazing and it's the reality in crypto world. If you want to earn without learning properly you may fall into a risk and lose funds. We should have much knowledge about crypto before planning to earn.

[mk4]

Your last line was amazing and it's the reality in crypto world. If you want to earn without learning properly you may fall into a risk and lose funds. We should have much knowledge about crypto before planning to earn.

I'd even go as far into saying that it will be almost guaranteed to happen. Even if you're already well versed with the cryptocurrency markets, the risk of losing money is still quite high.

[pooya87]

4. Diversification that has no research behind it is foolish. I had thought that once you diversify you can do wrong, how wrong I was. You always have to diversify making use of research and don't be in a hurry to buy.

Buying altcoins and calling that "diversification" is even more foolish because altcoins do not move independently to be considered a good option for diversification. Whenever bitcoin rises or falls, they get dumped because capital flows back to bitcoin.
If you really want to diversify you have to buy something that is not related to bitcoin, like buying gold for example.

[GatotKaca]

1. Emotions thoughts and feelings can hurt you if they were not researched.

I think this factor is often done by beginners in trading and investing. buy assets only by feeling or predicting an increase in assets just because of the blink of an eye looking at the chart. or just because of hearing news related to the project.
This situation is what traps many beginners in making mistakes in buying assets because they do not do it with the right analysis.

[gunhell16]

Many of our cryptocurrency communities are deceived and hyped by news about crypto because others are paid so they become victims or are given wrong information about crypto.

So crypto traders should do their research before investing in a coin or token. And ask here in the forum about the thing you want to know, just like you did it, dude. So that the capital you use to buy cryptocurrency does not go to waste.

[livingfree]

About the news, if you're new to the market, it's really going to cause you a lot of panics and hesitations especially if they're bad news like bans and related to FED and other financial companies.

That's why what you've said as #1 is true that anything that you're emotional about, it can lead you to hurt not just your feelings but also your pockets if you're not careful enough.

[bittraffic]

That diversification is likely the most worse advice to newbies who had not seen the bear market yet. They will only realize it while the bear market had been around for almost a year and thier down to -80% for holding it. 

Heck, I have lost too. But not that I know the cycle will keep cycling whether you have money to invest or not, the 4-year cycle will keep cycling.

[Strongkored]

1. Emotions thoughts and feelings can hurt you if they were not researched.

But sometimes in doing research we often use emotions and feelings for example when we are going to invest in a new coin we will not know that the coin will be in good development until a certain period of time and when choosing it only feel that the coin will be good even though reading the whitepaper too or the roadmap won't really know it.

4. Diversification that has no research behind it is foolish.

In crypto even if you do research first by diversifying it is still a stupid act, you will be safer by holding only one coin, namely bitcoin than dividing it into altcoins

[DanWalker]

If you want to mature in the market, most people go through the stages that you go through, no newbie realizes that knowledge is the key to entering the market until they lose. Your advice is really helpful but in my opinion, the best way for newbies to grow up is to let them experience the same things that the market offers them. There is no better lesson or knowledge than your own experience in the market.

All 3 are good advice but the 4th I slightly disagree, just like in this bear market, diversification doesn't work when the altcoin market depends on the movement of bitcoin. When Bitcoin drops in price, the whole market is in the red so diversifying into altcoins is not necessary when you invest in bitcoin.

[GreatArkansas]

(....)
Moving forward I would pay more attention to learning and asking questions too, all I can say to the newbies is that grow your brain before you try to grow your portfolio.

Precisely! This is the most common mistake of people who are starting to trade. They thought that they will become millionaires in just 1 day or 1 week of trading or they though that when they start trading, they don't lose money. Also because of what they common to see on the internet or social media which advertise by some influencers or content creators.
I can relate to this when I was newbie before.

[CapGelatik]

About the news, if you're new to the market, it's really going to cause you a lot of panics and hesitations especially if they're bad news like bans and related to FED and other financial companies.

That's why what you've said as #1 is true that anything that you're emotional about, it can lead you to hurt not just your feelings but also your pockets if you're not careful enough.

Bad news can really affect the market and and sometimes it can create panic,
and panic will make us sell our assets at the wrong time,
better learn more about the crypto market and spend as much time as possible on it

[danherbias07]

One golden rule for me especially in investing in new projects.
Don't let your experiences get to your head thinking you are a pro at it. Always try to be a newbie so that you will try to question everything about them.
We love asking questions back when we don't know anything yet, better to be in that POV again so you will not be wasting money.
Skeptical.
The experience only made you stronger but it doesn't mean you became a master of cryptocurrencies.

[palle11]

I had some thoughts about cryptocurrency and I thought they were enough for me to achieve all I had come here for.
I didn't spend much time and jumped into the crypto market and I guess it swallowed me.

Is a wrong move to take jumping into what you don't have good knowledge about. Crypto investment is very risky. I hope you have learn your lesson now and not to have the believe that putting money to buy any coin is a direct profit already.

4. Diversification that has no research behind it is foolish. I had thought that once you diversify you can do wrong, how wrong I was. You always have to diversify making use of research and don't be in a hurry to buy.

Diversification is also an investment and before buying any coin you must have researched and have knowledge on it before real investment. The word diversification is to invest in another optional investment that is different from the formal so it also requires researching.

[dunfida]

3. The news can be a disguised trap, I made many investments because I followed the news and what many people were doing, this is a foolish move.

You cant really tell that it is really a foolish move, we could really able to experience these mistakes and errors since this market could really turn upside down without anticipating that it could really happen suddenly.

News arent traps, it could be also determined as part of fundamentals if you are really that making some analysis to it but since not all news could make out some significant impact then it would be

understandable that results or outcomes will really be neither on both paths.Once you do gain up sufficient experience then these things wont really be surprising anymore.

[ethereumhunter]

You've tried to open up and learn from your previous mistakes and want to correct them so you can take one more step forward. Many beginners have made many mistakes but not many are willing to try to rise from their mistakes and try their best and you are one of them.

I want to provide input for diversification because this can confuse some people. After all, so much news out there that invites them to invest in altcoins makes them not do research before investing. You may be able to take advice from others but always do your research before you buy. That way, you will know which coins to buy and make as your investment and avoid buying the wrong coins.

But if you are confused about choosing an altcoin, you don't need to go ahead and just stick to bitcoin because that is enough and you can even try to profit from bitcoin in bear and bull season time. And this depends on how your ability to analyze.

[topman21]

If there is no thought in every person then he will never be able to achieve success in any work First you have to think and then you have to gain experience from there If you can think and experience there, you can become a successful person.And even there if you are not successful and the experience spoils, from there you will learn the most and experience the most.

[Finestream]

Your last line was amazing and it's the reality in crypto world. If you want to earn without learning properly you may fall into a risk and lose funds. We should have much knowledge about crypto before planning to earn.

I'd even go as far into saying that it will be almost guaranteed to happen. Even if you're already well versed with the cryptocurrency markets, the risk of losing money is still quite high.

Unfortunately, losses will always be inevitable in crypto, regardless of how high your experiences are. Good thing is every losses comes with a great lesson too, so we should still look at it with positivity. However, knowing that crypto is highly risky, then we should exert more effort to DYOR as it’s the best way to lessen the risk  and increase the chance to earn profits.

[nurilham]

Hello everyone I joined this forum over a year now and I was very excited to join. I warmly by the forum members and I felt very welcomed. I had great ambition oh well I think my ambitions were overly much.

This forum really provides many things that we can learn and search for, additionally, this forum is also a very good place to have any type of discussion. We are here to learn more and more in order to get any information, from the past to the most updated one.
Being ambitious for learning in this forum makes sense, but we must also balance it with our action, what we can do and what we are doing exactly to utilize every chance and information here, to be contributive in this forum. So, this will fulfill our ambition and rise up our understanding, ability, and also awareness about the crypto world entirely.

1. Emotions thoughts and feelings can hurt you if they were not researched.

Emotion becomes one of the ye elements if we are cornering in the crypto world. Even if we have good understanding about crypto, knowledge, and the ability to analysis, if we cannot control and manage emotion very well and wisely, we may be trapped inside and being lost-control. That is why it is very useful and important to be able to manage it