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

[Ethan_Crypto]

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?

[Woodie]

It's easy to be caught up in the hype because Bitcoin was bullish for sure and for those quick profits anybody would have bought...worse off if you are using the DCA strategy it overrides these rules of buying the top, so don't be hard on yourself 

If you are a hodler you can still breakeven sooner or later as price hasn't dipped so deep far from the All Time High, so room to correct this mistake is still present.

Goodluck mate .

[Asiska02]

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.

[Ziskinberg]

All traders are still susceptible to mistakes and losses, as even professionals and expert traders still experience losses at times. And that’s fine, as long as we also take chances to learn from our mistakes and grow.

Whether you chose to trade with altcoins or stick to bitcoin, believe me profitability isn’t on the coin itself. It’s on how you manage your trade, and execute your skills and reliable strategies in order to achieve profits. Those who are still at loss consistently only mean one thing, they aren’t good traders yet in the making.

[Stable090]

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?

Waw you have been trading since 2020, thats really nice but by now you should know that mistakes always happen in trading, and you won’t be making profits always, time will come when you are going to lose. You are a trader that has been in the market for 5 years, how will you enter a trade without checking the chart? I will say you are the cause of your problem, you are not suppose to rush into trading, always take your time to do your analysis before entering the market. At least this will serve as a lesson to you, when next you are entering a trade, then you will always take your time to do the analysis.

[Ethan_Crypto]

It's easy to be caught up in the hype because Bitcoin was bullish for sure and for those quick profits anybody would have bought...worse off if you are using the DCA strategy it overrides these rules of buying the top, so don't be hard on yourself 

If you are a hodler you can still breakeven sooner or later as price hasn't dipped so deep far from the All Time High, so room to correct this mistake is still present.

Goodluck mate .

Thank you brother. Honestely I felt terrible still making this kind of mistake. I won't be hard on myself anymore I promise

[Ethan_Crypto]

All traders are still susceptible to mistakes and losses, as even professionals and expert traders still experience losses at times. And that’s fine, as long as we also take chances to learn from our mistakes and grow.

Whether you chose to trade with altcoins or stick to bitcoin, believe me profitability isn’t on the coin itself. It’s on how you manage your trade, and execute your skills and reliable strategies in order to achieve profits. Those who are still at loss consistently only mean one thing, they aren’t good traders yet in the making.

I find this comment very insightful and educative. I have learnt from this. Thank you

[Ethan_Crypto]

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.

You are very correct. This king of mistake is very avoidable. I will make sure this doesn't repepat. Thanks

[passwordnow]

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?

Yes, nothing new. Everyone who claims to be moved on and became a good player would have thought of this. But I don't think that everyone will be at their best shape in trading. We can still feel the FOMO and the mistakes will continue to come for us to grow better. And if we don't learn from these mistakes, we're continue to experience the same ones that we'll always account ourselves for because we have thought that we've learned already even if we're not and we're in denial of that.

[freedomgo]

It takes time to learn, but eventually, you figure out how to trade the right way. Being a successful trader doesn’t mean you’re right all the time. You just need to be right most of the time, and manage your funds properly to stay profitable in the long run.

Don’t trade with emotions. That’s how people fall into FOMO and FUD traps.

But if you feel like you’re not really improving, it’s okay to step back. You can always switch to long-term trading, like simply buying and holding, or buying during bear markets. That way, you reduce the chances of making costly mistakes.

[Stepstowealth]

This shows that even masters makes mistake sometimes.

Do you have similar experience like this?

I think it is an emotional reaction that any human can still be affected by no matter the level they have achieved. The masters too are not free from emotional decisions in times they let their consciousness about it down. To avoid being in such a situation, I think we need to always be watchful and careful of our emotions. To always ask ourselves too before making any decision if it is an emotional decision or a decision made from a logical standpoint.

[hyudien]

Are the altcoins you bought really in the top 10 on CMC? At least a little research to narrow down the losses is the easiest way. However when I hear that you have been doing it for years but still buying at the highest price, it sounds like there is no result. Do you learn from your mistakes or keep ignoring the warnings? Because I am quite surprised if it keeps repeating itself at the same point without any important lessons to be learned. Try taking a break to reflect or maybe you are not suited to the crypto trading field.

[SmartGold01]

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.

[reagansimms]

You are too fixated on your favorite coin, why do I say that the Altcoin you bought is your favorite coin, based on previous experience you still dare to buy even though it is at the highest price. Learning not to FOMO is something that Traders must do, but what happens now, you are still stuck in it without caring about what happened before. Besides, we still have Bitcoin that can survive every shock, so why choose Altcoin?

This shows that even masters makes mistake sometimes.

I don't think you are positioning yourself as a Master. Logically, Masters always learn from their mistakes, but you are still stuck in the same hole by ignoring the basics of trading.

[shinratensei_]

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?

I did make such mistake quite frequently in the past, making decision to buy without looking at the higher time frame and got caught off guard buying at the top.
I think even the most expert trader often do the same mistake, but they move on and trade for another day.

Moreover, you can always cutloss your position if you think it'll go down deeper than it is right now.
Always another chance to make up for your losses.

[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?

There's no such thing about being a perfect trader. The main target that we should be pursuing into is to become that profitable or someone who do become that sustainable on longer runs. If you do find yourself that keep on repeating on the same mistakes again and again then you do need to go back into the drawing board and trying out to avoid it on next time. It doesnt matter on how many times that you would be failing on which as long you are trying out hard to get rid of it. There are those times or conditions on which you do feel like on giving up or having that kind of impulsive emotions on the time that you have done it again and again. We do know that trading isnt something a skill that you can learn but since we've been talking about 5 years on here basing up on what you have said then its better to check yourself on whats going on. FOMO usually kicks in when you dont want to get left behind and we are all guilty at this.

For those who had been that long time experience into this market then they do able to get rid with that emotion on which it is completely different when you are doing it into your newbie days. If you do find out that you do commit out on the same mistakes again and again after long years then there's something issue with your emotion because this usually talks or pertain about emotion because if you cant be able to control your emotions then that would be surely be a huge problem on your trading career. If you do sees out this main problem then its just right that you do need up to enhance or solving out or else you would be keeping on the same mistake over again and again and thats not good.

[Jatiluhung]

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?

Yes, I have experienced this too. Not even once but several times. It's just that sometimes I make the wrong decision when I force myself to enter trading even though my mental condition is still exhausted from work in the real world. So I trade in a state of psychological exhaustion. Which is actually not very good for traders to trade when tired. Because yes, it can lead us to wrong decisions.

So I understand you. but I'm curious whether you also make this mistake because there are reasons for certain conditions like mine or not?

And yes, in the end, even professional traders sometimes make mistakes and suffer losses. Because that is normal in trading. It's just that we shouldn't make mistakes too often. because what is at stake are our valuable financial assets.

[OcTradism]

Yes, I have experienced this too. Not even once but several times. It's just that sometimes I make the wrong decision when I force myself to enter trading even though my mental condition is still exhausted from work in the real world. So I trade in a state of psychological exhaustion. Which is actually not very good for traders to trade when tired. Because yes, it can lead us to wrong decisions.

And yes, in the end, even professional traders sometimes make mistakes and suffer losses. Because that is normal in trading. It's just that we shouldn't make mistakes too often. because what is at stake are our valuable financial assets.

One of most common biggest differences between amateur traders and professional traders is: whether they use stop loss order or not. With professional traders, they have more knowledge and experience so that they are able to make more accurate analyses and decicions for their trading but they never let their confidence resulting in terrible mistakes like ignoring stop loss order. They are experienced enough to know that without a stop loss order, they can lose big fund from trading.

Oppositely, amateur traders are over confident with their trading positions, and ignore stop loss order by feeling like they will not get loss but only get profit from their trading positions. This causes them big losses when market turn to bearish and they don't cut loss early enough or it's worse if they opened a trading position with margin or futures and got liquidation later.

[michellee]

A pro traders sometimes make a mistake, so that is normal if you do the mistake. You need to realize that mistake and fix it in the next trading so you will not make the same thing. That will make you more better than before because you can introspect what happen to you.

Buying in a high price is okay because the price can back to that price and more so you can sell it and make a profit. But that will only work for the coin that have potential to increase. Bitcoin is one perfect example because when you buy at a high price but the price suddenly down and you still hodl, there will be a chance the price increase in the future. In this matter, you need to aware about the analysis in trading so you will always do that before you trade.

[Leahized]

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?

Trading is mistaken because of many mistakes when analyzing, and mistakes are very natural because not all traders can always trade properly. From my experience I can say, no matter how perfectly observing, sometimes the money is lost because of the slightest mistake. And if you do not break to make this mistake, it should be learned from it so that it can be traded more perfectly later. Now since you are buying Altcoin then you wait. Because it is possible to make a lot of profit by holding. In this case the situation in the market should always be monitored. If the market is on the downturn, it is most likely to lose. And we choose the wrong altcoin in the desire to make more profit, we always have to keep in mind.