Even After Years of Trading, I Still Bought the Top Today

[Lanatsa]

After several years of trading experience, I bought the top of an altcoin again today.

I made a trading mistake, and I wonder how come I haven’t grown past this stage in trading.

I thought I have learnt how not to FOMO, I still fell for it even after been a trader since 2020.

I wouldn’t have bought the top if I took some few minutes to check the chart. At least the daily chart would have given me the signal.

This shows that even masters makes mistake sometimes.

Do you have similar experience like this?

It can happen with the best of us. It doesn't mean we are bad but may be it's just the luck that wasn't in our favor at that moment.
Learning from mistakes is the best way to learn and so I would suggest you to analyse where you went wrong and take it as a lesson.
If you had your stop loss set then may be you would have exited the trade with minimal loss.
If you are still holding then you should probably just wait for the price to rebound and then you can decide how to execute your strategy.

There's no exemption to this on which each trader will definitely be that always having that kind of impulse feeling about on not wanting to miss out the train on which they will be that definitely trying out to secure their entry and doesnt mind off about into the possibilities that they are doing the risky move on which considering that trying to chase up that pump is always been that dangerous and risky. If you arent that good when it comes to balance things off and you do let your emotions control you, then you would be finding yourself into that high chance that you will be ending up on getting caught with the dump. This is the usual case for most traders that they would be able to experience it out on which they are that making themselves that not wanting to get left behind and since that kind of positivity crawls deep inside then it do brings out that kind of possibility that it could be ending up on positive or ending up on a disaster? You will be having that kind of gambling type kind of mind when you do made out such step.

Mistakes do happen and you should that make yourself banging up your head into the wall just because you have done it again. It would be just that too impossible that you cant be able to make out those kind of realizations at the moment that you do keep on making the same mistakes all over again and again. Its part of human instinct that you would be that trying out to get rid with those kind of behavior. Yes, we can be long time traders but it doesnt mean that we would be that immune into those errors and mistakes. We are just that human on which we do commit out mistake for sometime just because of being hopeful that we can be profitable at the moment that we do made out such decision. What matter most on here is that despite of those mistakes is that you do able to learn and still making yourself that remain profitable on which we know that on this trading world then the one who do able to sustain is the one that will be able to go further.

[Oluwa-btc]

Do you have similar experience like this?

You may have a long time experience in trading, but that’s not enough to call yourself a master if you keep making simple mistakes continuously, mistakes that could easily be spotted and avoided. You may be a master at trading for years, but making same mistake over and over again makes you not qualified to be called one. But if such mistakes happens ones in a while, then it can be called a mistake as you prepare to be more careful going forward not to make such mistake again.

Buying at the top is a very big mistake to make, because you’ll never be able to get your initial capital you’ve invested in that token again. This is a very big mistake because if you’d use some amount of money that is too much to be risked, and hope to benefit big from this and it fails, it may take you back to square zero just because of this little mistake of not reserving properly before investing. Every trader makes mistake, but many can be avoided when proper research and approach is make to invest in any type of token or in the case of trading.

That's to say every little financial decisions comes with it's risks and down pour.Nobody is above mistakes especially in her various fields and financial experiences.So far so good, many persons have successfully outdid themselves because of the feeling and mindset they've assimilated to themselves.

[Fivestar4everMVP]

After several years of trading experience, I bought the top of an altcoin again today.

I made a trading mistake, and I wonder how come I haven’t grown past this stage in trading.

I thought I have learnt how not to FOMO, I still fell for it even after been a trader since 2020.

I wouldn’t have bought the top if I took some few minutes to check the chart. At least the daily chart would have given me the signal.

This shows that even masters makes mistake sometimes.

Do you have similar experience like this?

Well, your mistake is not special, I've personally have been in the crypto business since 2016, I got to know about crypto in 2016 and in 2017, I was already trading myself, though I can not remember when last i bought that top of an Altcoin but this is not a mistake that is too hard to make, any body can make such a mistake including the so called masters or gurus whatsoever..

I have alot of Altcoins which I've forced myself to hold as an investment even though when I bought it, it wasn't my intention to hold the token for more than a day, but I bought that top and I can't afford to sell it at a loss, so I have no choice but to hold it as an investment instead, this strategy have worked for me in that past, several times actually, so even if I make same mistake again now, I am not scared, only thing is ensure you are trading a token that is from a reputable and trustworthy developers, one that won't turn into a rug in the near future.

[slaman29]

I have alot of Altcoins which I've forced myself to hold as an investment even though when I bought it, it wasn't my intention to hold the token for more than a day, but I bought that top and I can't afford to sell it at a loss, so I have no choice but to hold it as an investment instead, this strategy have worked for me in that past, several times actually, so even if I make same mistake again now, I am not scared, only thing is ensure you are trading a token that is from a reputable and trustworthy developers, one that won't turn into a rug in the near future.

Have not fallen for altcoin since my crazy days of 2017/18. Sometimes I buy a small bit here and there usually only because to pay in some weird currency somebody needs, but then it's just a few dollars to pretend I'll be a moon millionaire in 2050 lol

Its okay to buy at the top, but keep your trading sensibility and don't do what I did in crypto winter after 2017. I kept buying back at 50% drop, at 80% drop etc. I still think sometimes about all the BTC I wasted especially on PoS coins. Shitcoins are shitcoins for a reason

[Ndabagi01]

Do you have similar experience like this?

No one is perfect in trading and everyone to make mistakes. But there are some mistakes that you ought to have grown past seeing how far you’ve been in that field and have experienced a lot of this mistakes in the past. Buying at the top is actually not a good sign of a trader, especially when it comes to altcoin investment, you need to be very careful and do extensive research before investing in any coin. You have learnt another lesson and hopefully you grow past it this time around and not make same mistake again in the future.

[BITCOIN4X]

~Snip

No one is perfect in trading and everyone to make mistakes. But there are some mistakes that you ought to have grown past seeing how far you’ve been in that field and have experienced a lot of this mistakes in the past. Buying at the top is actually not a good sign of a trader, especially when it comes to altcoin investment, you need to be very careful and do extensive research before investing in any coin. You have learnt another lesson and hopefully you grow past it this time around and not make same mistake again in the future.

Why is buying at a high price considered bad if this trader knows where to trade it?
Buying high to short on futures is a good option compared to buying high on spot trading. However, futures trading is not recommended for those who do not fully understand how it works and how to minimize the risk, so spot trading is the safer option of the two.

Buying high and losing as the price drops is nothing new, but you don't lose as long as you never sell. You just see your asset estimate go down, while the asset you own remains the same even though the price has gone down since you bought high. The best way to try to recover is to accumulate, but if you don't want to hold on to that altcoin for long, then just wait for it to recover gradually while finding a better asset.

[TheUltraElite]

Mistakes happen and buying an altcoin at the top is bad one. But you have identified that mistake and this is important to avoid such mistakes in the future. It is simple enough to look at the past charts and make sure you are buying at a point that does not mean you are going to enter into a losing position. So dont repeat this mistake in future.

Even then you should be happy that you did not go for leverage or margin trading which are gambling only. At least in spot trading you still have some assets at hand which you can sell in some near future.

[Wakate]

After several years of trading experience, I bought the top of an altcoin again today.

I made a trading mistake, and I wonder how come I haven’t grown past this stage in trading.

You need to understand that buying the top of an altcoins is not a sign of trading mistake or investment. We need to be an expert when trading and sometimes the market reaction shake us to make some certain mistakes that will show us that making decisions or analyzing the market can not be done always on accuracy.

The same top that you bought is what another investor sold so you need to know that every trader's decision about the market can not always be the same because we have different view about the market. When we make mistakes, there is always a room for us to adjust and make a better decision tomorrow.

[OcTradism]

Mistakes happen and buying an altcoin at the top is bad one. But you have identified that mistake and this is important to avoid such mistakes in the future. It is simple enough to look at the past charts and make sure you are buying at a point that does not mean you are going to enter into a losing position. So dont repeat this mistake in future.

Even then you should be happy that you did not go for leverage or margin trading which are gambling only. At least in spot trading you still have some assets at hand which you can sell in some near future.

Altcoins are very dangerous for investors and traders as basically they are scam projects. You can engage with them and lose money with pum and dump manipulations or rug pulls. Rug pulls can be done anytime by people behind scam altcoin projects and buying altcoins at top in FOMO time is not the only way of losing your hard earned money with scam altcoins.

You can buy altcoins very deeply below their ATHs but after that they can have rug pulls and prices will plummet more and you lose all money.

[HistoLock]

The market can catch you up at any point even though you took your time to study how the market price is you would still see loses and is still not easily that way to escape while trading. All trader must bear or harbor this at their upstairs that lose is something that remains constant in gambling but you can at least control them to reduce below it could had dump on you. While trading make sure to use different time frame to analyze markets so you would easily detects where there is trap for you as trader.

Yes you are right, it is important to remember that while trading, it is important to analyze the market. I need to understand what is risky for me. I think I need to study the price of the instrument, if I cannot do this, I may face losses, well, it will force me to put pressure on myself. I think your comment is important, which I always try to do. To be a good trader, I need to remember to avoid traps.

[justdimin]

Altcoins are very dangerous for investors and traders as basically they are scam projects. You can engage with them and lose money with pum and dump manipulations or rug pulls. Rug pulls can be done anytime by people behind scam altcoin projects and buying altcoins at top in FOMO time is not the only way of losing your hard earned money with scam altcoins.

You can buy altcoins very deeply below their ATHs but after that they can have rug pulls and prices will plummet more and you lose all money.

Altcoins are very dangerous for the newbies mainly. Because they do not know much about it, but they do feel like it is not that great neither. We need do see that it is going to be a scam if we are veterans, it's easy to pick what is scam and what is not when you are a veteran who has experience in the market because we have seen it before.

But, when you are a newbie, you do not know what it will do, and that is the most important aspect of it, it's not going to be great at all. We should be considering how things could change, and because of that we are going to end up with complicated results. If we can do this, we are going to be able to say that we have tried our best, and it is going to be a near impossible situation for all of us.

[Wakate]

The market can catch you up at any point even though you took your time to study how the market price is you would still see loses and is still not easily that way to escape while trading. All trader must bear or harbor this at their upstairs that lose is something that remains constant in gambling but you can at least control them to reduce below it could had dump on you. While trading make sure to use different time frame to analyze markets so you would easily detects where there is trap for you as trader.

Yes you are right, it is important to remember that while trading, it is important to analyze the market. I need to understand what is risky for me. I think I need to study the price of the instrument, if I cannot do this, I may face losses, well, it will force me to put pressure on myself. I think your comment is important, which I always try to do. To be a good trader, I need to remember to avoid traps.

Whether you analyzed the market or not, you can always buy the top which is something anyone can fall victim to and does not have anything to do with whether you understand technically analysis or not. The top bought will always become a bottom as the price of Bitcoin keeps going bullish. We can always endeavor to invest at the right time especially when price goes down. I like buying the dip but when the price of Bitcoin starts pumping. There are people that wouldn't even mine if they are buying the dip or not because they have enough funds to invest in Bitcoin, for those that have smaller funds to invest, following such a pattern is very wrong and can cause lagging.

[sana54210]

No one is perfect in trading and everyone to make mistakes. But there are some mistakes that you ought to have grown past seeing how far you’ve been in that field and have experienced a lot of this mistakes in the past. Buying at the top is actually not a good sign of a trader, especially when it comes to altcoin investment, you need to be very careful and do extensive research before investing in any coin. You have learnt another lesson and hopefully you grow past it this time around and not make same mistake again in the future.

Yeah, it's okay to make mistakes, like everyone said, we all do it sometimes. I keep making mistakes all the time, I sell to early that is my thing, I have been here for nearly 15 years now, and I still sell too early. I think I fear the price dropping and holding a bag, which happened early on a few times, and a few times along the way, so I fear that I will not sell at the top and that is why I sell too early and then the price keeps on going higher.

We all have our own mistakes, we just need to look at it, see what went wrong and then move to make a better move if possible. It is not that easy for us to make zero mistakes, there are no people who makes no mistakes, so we should be considering how this could be very valid situation to handle and you are okay for making one.

[dunfida]

No one is perfect in trading and everyone to make mistakes. But there are some mistakes that you ought to have grown past seeing how far you’ve been in that field and have experienced a lot of this mistakes in the past. Buying at the top is actually not a good sign of a trader, especially when it comes to altcoin investment, you need to be very careful and do extensive research before investing in any coin. You have learnt another lesson and hopefully you grow past it this time around and not make same mistake again in the future.

Yeah, it's okay to make mistakes, like everyone said, we all do it sometimes. I keep making mistakes all the time, I sell to early that is my thing, I have been here for nearly 15 years now, and I still sell too early. I think I fear the price dropping and holding a bag, which happened early on a few times, and a few times along the way, so I fear that I will not sell at the top and that is why I sell too early and then the price keeps on going higher.

We all have our own mistakes, we just need to look at it, see what went wrong and then move to make a better move if possible. It is not that easy for us to make zero mistakes, there are no people who makes no mistakes, so we should be considering how this could be very valid situation to handle and you are okay for making one.

There's no such thing about being perfect trader on which simply means that no matter how good our analysis would be but still it would be still having those chances that you would be able to commit out those mistakes and thats very normal. What matter most on here is that we do able to make learn out of those mistakes and make ourselves that more better as we do make even more trades. Experience do what build us to become a better trader but just we do all know that there's no one to be that becoming that perfect with it no matter what. Dealing up with an unpredictable market does basically means that you would be needing up to be having that kind of versatility and sustain because this what makes you that be able to survive this unpredictable space. It would be always that recommended that you should be that knowing at least on what are the things that you've been dealing on with and if it happens that you do able to sustain for long time, then it do basically means that you are that doing well with that.

Moments on buying up on the peak is that very common specially when you are that being fomo and since we are just that humans then we are that susceptible into this stuff. It would be that turned out that you do basically be ending up on having those probabilities on taking up such action even if you've been here on this market for a while. It would be that up to you on how you would be able to cope up with those mistakes on which it will be that basically making yourself that at least doing fine despite of those loses since you can be able to recover with that.

[Distinctin]

After several years of trading experience, I bought the top of an altcoin again today.

I made a trading mistake, and I wonder how come I haven’t grown past this stage in trading.

You need to understand that buying the top of an altcoins is not a sign of trading mistake or investment. We need to be an expert when trading and sometimes the market reaction shake us to make some certain mistakes that will show us that making decisions or analyzing the market can not be done always on accuracy.

The same top that you bought is what another investor sold so you need to know that every trader's decision about the market can not always be the same because we have different view about the market. When we make mistakes, there is always a room for us to adjust and make a better decision tomorrow.

Altcoins are profitable on their own ways, but they can’t compete with the potentials of bitcoin. So again, it’s never a mistake buying altcoins, but buying those wrong altcoins is certainly a big mistake, something that you can learn from it and won’t do the same mistake again in the future.

Trading is never made for perfection, because if that’s the standard, no one would be trading for long term. The point here is, trade on your potential coins, but always prioritize bitcoin over altcoins. Profits are more secured with bitcoin compared to its alternative coins.

[2Pizza410000BTC]

After several years of trading experience, I bought the top of an altcoin again today.

I made a trading mistake, and I wonder how come I haven’t grown past this stage in trading.

I thought I have learnt how not to FOMO, I still fell for it even after been a trader since 2020.

I wouldn’t have bought the top if I took some few minutes to check the chart. At least the daily chart would have given me the signal.

This shows that even masters makes mistake sometimes.

Do you have similar experience like this?

While trading, everyone will make some mistakes, no one can trade on a trading platform with 100% accuracy. Just like you jumped into trading without analyzing the chart, maybe a year ago I made the same mistake as you and started trading with a new altcoin token that came into the market. When it was first listed in the market, the market started trending a lot, maybe I didn't realize it then, I also waited for that trend and jumped into trading, later I suffered a lot of losses that I have not been able to recover till now and I can't even say whether it will recover. That's why I want to tell every trader that it is always better to trade with top coins like Bitcoin and Ethereum because there is a possibility that Bitcoin will recover and Ethereum will recover.

[bitgolden]

it's okay to make mistakes, like everyone said, we all do it sometimes. I keep making mistakes all the time, I sell to early that is my thing, I have been here for nearly 15 years now, and I still sell too early. I think I fear the price dropping and holding a bag, which happened early on a few times, and a few times along the way, so I fear that I will not sell at the top and that is why I sell too early and then the price keeps on going higher.

We all have our own mistakes, we just need to look at it, see what went wrong and then move to make a better move if possible. It is not that easy for us to make zero mistakes, there are no people who makes no mistakes, so we should be considering how this could be very valid situation to handle and you are okay for making one.

Life is simple, we are all humans, and humans have mistakes in our nature. Even when we know we are about to make a mistake, there is this part of our psychology This is why we can't really consider this as a mistake and not really a good one at all. There are a lot of questionable situations regarding this, so I am not entirely sure if this would work out great. But the simple truth is that we are going to face some issues when we are not careful about our own emotions.

So if you think you made a mistake, then that's fine, nothing is wrong and you will be fine. Focus on the things that matters and you should not be getting any fear. Keep going, there will be some mistakes along the way, but you will be fine overall.

[AmoreJaz]

Mistakes happen and buying an altcoin at the top is bad one. But you have identified that mistake and this is important to avoid such mistakes in the future. It is simple enough to look at the past charts and make sure you are buying at a point that does not mean you are going to enter into a losing position. So dont repeat this mistake in future.

Even then you should be happy that you did not go for leverage or margin trading which are gambling only. At least in spot trading you still have some assets at hand which you can sell in some near future.

Altcoins are very dangerous for investors and traders as basically they are scam projects. You can engage with them and lose money with pum and dump manipulations or rug pulls. Rug pulls can be done anytime by people behind scam altcoin projects and buying altcoins at top in FOMO time is not the only way of losing your hard earned money with scam altcoins.

You can buy altcoins very deeply below their ATHs but after that they can have rug pulls and prices will plummet more and you lose all money.

If you know very well the alt that you are dealing with, there's no problem with that as you already know what to do to earn profit. It means, you are not a beginner in the trading market. But if not, better deal with btc first and have a grasp on what's going on within the crypto market. Because every alt has their own unique features and you will those to strategize to earn profit.
Also, if you are a long-time trader, you would indeed still go for top alts because you have already seen that these new alts will just bankrupt your vault. Still, top alts are more reliable than new ones.

[pawanjain]

After several years of trading experience, I bought the top of an altcoin again today.

I made a trading mistake, and I wonder how come I haven’t grown past this stage in trading.

I thought I have learnt how not to FOMO, I still fell for it even after been a trader since 2020.

I wouldn’t have bought the top if I took some few minutes to check the chart. At least the daily chart would have given me the signal.

This shows that even masters makes mistake sometimes.

Do you have similar experience like this?

It happens with the best of us, trust me. I have made the same mistake few months ago.
We just have to suck it up and take the losses (but only if you sold, so just keep holding until you are in profits).
Volatility is high these days and so setting stop losses might end you with losses.
I am not against stop losses but you should avoid it in high volatility if you really believe that the coin will surge in price sooner or later.

[harapan]

I made a trading mistake, and I wonder how come I haven’t grown past this stage in trading.
I wouldn’t have bought the top if I took some few minutes to check the chart. At least the daily chart would have given me the signal.

Over curiosity killed the cats, buying the top is a very good signal but the thing is are you on track? This is little mistakes that turn out to be huge mistakes due to lack of insights. We the mindset that we've been into this for so long we think there's greater possibility that we'll get it right but it's the other way round. So to say I've not experience this but I'm learning from y'all experiences.