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

[TheUltraElite]

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.

You can never know an altcoin to that level. Most of them have obscure creators and will face ups and downs that are not predictable. There are people who still value them and buy them hoping to be able make money from price difference. Buying at the top when it comes to alts, it bad, because it might never actually come back to that level.

This is more common with less known alts, newly launched alts - OP should learn from this mistake and try not to repeat it.

[GreatArkansas]

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.

You had your reason why you bought this or opened a position. So for me, nothing is wrong here; we can't judge you, especially since it is from your analysis.
There are really some traders who doing like like opens a trade in breakout, or momentum which is for some, they are profitable.

[CoolDev]

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?

You’re not alone, even experienced traders slip into FOMO. 
The difference between “pro” and “noob” isn’t about never buying the top, 
but having a framework that limits the loss when it happens.

One thing that helped me was automation. If you set predefined rules 
(risk levels, entry/exit logic), the emotional factor drops a lot. 


Mistakes will happen, but minimising losses is what keeps you alive in this game. 

[taufik123]

You can never know an altcoin to that level. Most of them have obscure creators and will face ups and downs that are not predictable. There are people who still value them and buy them hoping to be able make money from price difference. Buying at the top when it comes to alts, it bad, because it might never actually come back to that level.

This is more common with less known alts, newly launched alts - OP should learn from this mistake and try not to repeat it.

Altcoins in a bullish market but Bitcoin dominance is still high, it would be very risky of a big drop when Bitcoin Dumps suddenly, because Bitcoin will affect everything.
Even about the altcoins you mentioned that don't know who the creator or developer is and how they are developed, it is indeed very risky.

Not to mention the unclear who the developer is, altcoins that are clearly the developers and included in the top 10 CMC List can also be scams in the end like LUNA,
and that is a serious disaster for crypto and results in a lot of losses.

Whatever it is buying at a high price cannot be considered safe even though it is the top coin, there must be a target and for a long term price and preferably the coin can actually potentially go high from that high price, but if it is only going to go deeper than don't try to buy at a high price.

Bitcoin alone still has a lot of interest and is buying at a high price, but some people who buy at a high price are too panicked when bitcoin goes deeper to -70%, but the potential to go higher could happen.
It only needs to do the right management and buy back when the price falls, but only applies to Coins that are really potentially good in the future.

[breske]

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?

Man I feel you I’ve done that more times than I’d like to admit
No matter how long we’ve been trading emotions still creep in sometimes especially FOMO Its crazy how easy it is to skip checking the chart just because something feels like it’s about to moon
Honestly though that’s where risk management really saves the day even when we mess up it helps keep the damage small
You’re definitely not alone in this

[dunfida]

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?

Man I feel you I’ve done that more times than I’d like to admit
No matter how long we’ve been trading emotions still creep in sometimes especially FOMO Its crazy how easy it is to skip checking the chart just because something feels like it’s about to moon
Honestly though that’s where risk management really saves the day even when we mess up it helps keep the damage small
You’re definitely not alone in this

Emotions have a way of slipping into trading no matter how experienced a trader becomes and sometimes FOMO makes it even worse, pushing decisions without really checking the charts or confirming signals, just acting on a feeling that price will suddenly take off. This usually ends with mistakes that could have been avoided with a bit more patience.

That’s why risk management stands as the safety net, because even when errors happen the losses don’t spiral out of control. Setting stop losses, managing position sizes and sticking to planned limits allow trades to remain within control. Instead of chasing every move, building consistency and discipline creates better results over time even when emotions still exist in the background.

[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.

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.

Holding is always profitable when you hold project that has good team. I know that all holders care about is to keep seeing the value of the coin they are holding increasing in price but we should also know that for a project to gain more investors, there must be a good news that will attract users to it.
As you trade the market, investing in some altcoins can likewise be very profitable especially holding volatile projects that the price can suddenly surge with little news or reaction in the crypto market.

[Awaklara]

As you trade the market, investing in some altcoins can likewise be very profitable especially holding volatile projects that the price can suddenly surge with little news or reaction in the crypto market.

Such altcoin assets are very risky for trading or holding. Although we can see some people making huge profits from altcoins that pump quite high, this does not happen with every asset. Some traders get too panicked when they see trends like that, and what happens is they buy during the pump and then can sell at a loss shortly after. Trading requires experience, especially when determining which assets to buy.

[goldkingcoiner]

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?

Your mistake was not buying the top but rather buying an altcoin.

Buying the top (of Bitcoin) and not selling, in the past has always been profitable, no matter how high the price was that you bought in. I cannot say the same about any altcoin or token. They are more of a dangerous investment which have been known to go to 0.

Don't put your faith so much into signals either. Trading is as random a lot of the time as gambling.

[bangjoe]

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?

Your mistake was not buying the top but rather buying an altcoin.

Buying the top (of Bitcoin) and not selling, in the past has always been profitable, no matter how high the price was that you bought in. I cannot say the same about any altcoin or token. They are more of a dangerous investment which have been known to go to 0.

Don't put your faith so much into signals either. Trading is as random a lot of the time as gambling.

If buying Bitcoin is very difficult to reach ATH, and that is the mistake, this can be proven, that Bitcoin always prints new ATH in each cycle.
Unfortunately he is a short trader, it cannot be equated with investors who have a long -term perspective, even though he bought Bitcoin at ATH he will also panic when he decreases and sells it.

His mistake is not to recognize himself and how to respond to the operating market, I am quite confident, the significant decline time he does not have the courage to enter.

And most likely he hears and reads the analysis made by others on social media.

[sana54210]

Your mistake was not buying the top but rather buying an altcoin.

Buying the top (of Bitcoin) and not selling, in the past has always been profitable, no matter how high the price was that you bought in. I cannot say the same about any altcoin or token. They are more of a dangerous investment which have been known to go to 0.

Don't put your faith so much into signals either. Trading is as random a lot of the time as gambling.

Yeah, if you bought at 19k during 2017, then you could have sold at 60k+ during 2021, or if you bought at 60k+ during 2021, you could have sold now and still be in profit. Buying bitcoin is great at any price, and you can make that profit, and if you end up with something else, like lets say you bought at one level, at the top, but you DCA and make that profit some other time, then you are going to end up with better return.

It should be very important for that and we can make some profit with it. I understand it is not that weird and we should be looking at this in a different approach. That is the most important difference and we can make some profit from DCA and being able to make some profit from it as well. That's the key figure here and we can make it happen.

[Shishir99]

Why would someone buy to the top, knowing this is the top? Of course, you made a mistake, and you are not alone. Some people buy tokens/coins without checking the chart. I personally always check the charge, daily, weekly, and all-time chart to know the previous ATH and all-time low so I can average the price of the coin before I decide if I want to buy a portion of it.

Yet, most of my altcoin investments are struggling these days, and I am still losing a lot. So, there is little benefit to checking the chart. Just buy and wait for it to pump. If it doesn't pump, just dump it and move on.

[irhact]

Such altcoin assets are very risky for trading or holding. Although we can see some people making huge profits from altcoins that pump quite high, this does not happen with every asset. Some traders get too panicked when they see trends like that, and what happens is they buy during the pump and then can sell at a loss shortly after. Trading requires experience, especially when determining which assets to buy.

Altcoins aren't always a good option for trading because they aren't easy to understand their market. Their market don't have a long history to look at to be able to understand what might happen next. Altcoins are bought and sold more with emotions and this causes the pump and dump that we see in the market regularly. Buying altcoins can make you big gains in the future if the altcoins you bought gain attention but in a situation that it doesn't get noticed, you'll be left hodling an altcoins that's decreasing in price very fast. Buying at the top at times doesn't mean you aren't a good trader, you're a human being and mistakes happens to everyone.

[Lanatsa]

Such altcoin assets are very risky for trading or holding. Although we can see some people making huge profits from altcoins that pump quite high, this does not happen with every asset. Some traders get too panicked when they see trends like that, and what happens is they buy during the pump and then can sell at a loss shortly after. Trading requires experience, especially when determining which assets to buy.

Altcoins aren't always a good option for trading because they aren't easy to understand their market. Their market don't have a long history to look at to be able to understand what might happen next. Altcoins are bought and sold more with emotions and this causes the pump and dump that we see in the market regularly. Buying altcoins can make you big gains in the future if the altcoins you bought gain attention but in a situation that it doesn't get noticed, you'll be left hodling an altcoins that's decreasing in price very fast. Buying at the top at times doesn't mean you aren't a good trader, you're a human being and mistakes happens to everyone.

Altcoins usually move in cycles too when bitcoin pumps many of them follow and when bitcoin dumps they fall even harder this correlation makes it difficult for traders to stay ahead because even if an altcoin has a strong project behind it the market sentiment tied to bitcoin still controls its movement. A lot of altcoin projects are created just to take advantage of hype with no real use case or future those are the ones that crash fast leaving late buyers with heavy losses research is important but even with research nothing is guaranteed in such a volatile space.
Some traders use altcoins only for short term trades riding the hype for a quick gain and then getting out before the dump others try to hold for years hoping one of their bets turns into the next big project but both approaches carry big risks.Thats why balance matters instead of putting too much money in one altcoin its safer to spread small amounts and still keep the majority in more stable assets patience and discipline are what protect you when emotions try to push you into chasing every pump.

In the end altcoins can be part of a portfolio but they should never be the foundation if you’re serious about building wealth in crypto focus on long term reliable assets and only put into altcoins what you’re prepared to lose completely because the line between big profit and total loss is very thin.

[tvplus006]

Why would someone buy to the top, knowing this is the top? Of course, you made a mistake, and you are not alone. Some people buy tokens/coins without checking the chart. I personally always check the charge, daily, weekly, and all-time chart to know the previous ATH and all-time low so I can average the price of the coin before I decide if I want to buy a portion of it...

The Op's mistake was precisely that he did not do any analysis when buying. There is no reason to buy such a token, which has already grown in price sufficiently, since the chance that it will continue to move is much lower than the probability that it will fall in price.

[tbct_mt2]

The Op's mistake was precisely that he did not do any analysis when buying. There is no reason to buy such a token, which has already grown in price sufficiently, since the chance that it will continue to move is much lower than the probability that it will fall in price.

Even it is trading, it's important to spend time for doing due diligent research about a project before buying that token. As if fundamentals are good, you can still get kind of safe position after buying with wrong entries. Unfortunately, altcoins are very scam and sensitive to be abandoned by founders, developers as well as are very vulnerable to deaths during a bear market when capital withdrawn out of the market, and demands on altcoins in general drop a lot.

Another risky practice and also dangerous mistake are don't use Stop loss order. People can ignore fundamental research, can open a wrong position, but if they know of Stop loss order, its functions, helpfulness and ready to use it practically, they can be able to avoid big loss. This order magically can help people reducing their losses if they use it.

Its powerful usefulness explains why it is considered as one of best weapons in trading.

[slaman29]

Another risky practice and also dangerous mistake are don't use Stop loss order. People can ignore fundamental research, can open a wrong position, but if they know of Stop loss order, its functions, helpfulness and ready to use it practically, they can be able to avoid big loss. This order magically can help people reducing their losses if they use it.

I don't even know why this is called a practice.

If you drive a car that has no brakes, it is not a practice, it is simply that you shouldn't be driving the car.

If you trade without stop loss, without knowing exactly what your entry and exit points are, if you are relying on manual for both ends, and never doing limit orders, then you are not a trader. And what you're doing is not trading. Period.

[Shishir99]

The Op's mistake was precisely that he did not do any analysis when buying. There is no reason to buy such a token, which has already grown in price sufficiently, since the chance that it will continue to move is much lower than the probability that it will fall in price.

Yep, I also think he made a mistake by not checking the chart. It is very wrong to buy a token just based on its hourly or last 24-hour performance. You never know how it performed in the last 7 days, 30 days, or all time. You should know the lowest, highest, and average price of a certain token. Let's say the average price was $2. I would never buy that token if the price is over $2 right now. I would consider purchasing a token only if the price is below 1.8 USD. Everyone should do their own research before considering buying any token.

[tvplus006]

Yep, I also think he made a mistake by not checking the chart. It is very wrong to buy a token just based on its hourly or last 24-hour performance. You never know how it performed in the last 7 days, 30 days, or all time. You should know the lowest, highest, and average price of a certain token. Let's say the average price was $2. I would never buy that token if the price is over $2 right now. I would consider purchasing a token only if the price is below 1.8 USD. Everyone should do their own research before considering buying any token.

If a coin is growing rapidly in value, it is necessary to find out the reasons for this growth. And as a rule, this reason is any positive news related to the project as a whole and, accordingly, to the token. And if you make purchases when the price is high on the local high, then you need to understand that the next will be dump and the token price will return to its original value.

[justdimin]

The Op's mistake was precisely that he did not do any analysis when buying. There is no reason to buy such a token, which has already grown in price sufficiently, since the chance that it will continue to move is much lower than the probability that it will fall in price.

Yep, I also think he made a mistake by not checking the chart. It is very wrong to buy a token just based on its hourly or last 24-hour performance. You never know how it performed in the last 7 days, 30 days, or all time. You should know the lowest, highest, and average price of a certain token. Let's say the average price was $2. I would never buy that token if the price is over $2 right now. I would consider purchasing a token only if the price is below 1.8 USD. Everyone should do their own research before considering buying any token.

There are many people who do not know how to check the chart, remember they are not all veterans and there are many newbies in the trading world even if they are old at investing. I think OP isn't someone who checked the charts because he wasn't trading that way, he may have made moves based on their moves in historical patterns.

Honestly, if he has been trading for years, he should have learned chart reading of course, but it is not a must and not everyone does it. No indicators, no charts, no nothing, they just look at something falling, and they buy, or going up, and they buy. And this sometimes works too, not impossible, sure it's wrong, but even a broken clock shows truth twice a day. So he probably did a mistake because of it.