11 Mistakes you should never do in crypto trading✌✌ - page 11.

Koadharber

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Quote from: jony35490 on June 15, 2018, 11:44:00 AM

Guys if you follow this 10 strategy, then I'm sure you will be safe from losses. Cheesy

Disagree,

Even you would tend to follow those 10 strategy it wont really make you completely safe from loses.We do know that market is unpredictable and no matter how you do set out those safety precautions or reminders there would always be a chance on losing out money. In every investment theres always a particular risk tied up with it therefore saying safe isnt really be suited out, when we do talk safe its 100% no loss which none trader or investor would definitely reach that state.

Dendamma

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Quote from: jony35490 on June 15, 2018, 11:44:00 AM

10 MISTAKES YOU SHOULD NEVER DO IN CRYPTO TRADING Wink

LET'S START Cool

1/ Don't be so greedy,as something is better than nothing.If you get 10% profit then try to sell out and exit.Otherwise you will lose all your money if you want more than 10%.

2/ Never buy altcoins when bitcoin price is unstoppable.

3/ Never invest your all money in one coin you must diversity.

4/ Don't sell your coins at loss,don't get into panic sale.Because if you brought protensial coin, then don't sell your coin if it dump.Because it will grow again after some days.

5.Never invest all btc in altcoins keep some btc in wallet for right time.If you like one coin most,don't invest your all money on this coin.Keep some btc for right time.

6/ Always make your portfolio, decide part if short and long time.

7/ Don't sale your long term coins at panic sale.You should hold your long term coins for 1 or 2 years.

8/ Don't do trading with your emotions keep them aside.

9/ Don't do day trading without proper knowledge.Before learning day trading don't go for it.Otherwise you will lose your all money.

10/ Never buy coins at their all time high price.Don't buy coin at their high price, wait for dump and buy at deep.

Guys if you follow this 10 strategy, then I'm sure you will be safe from losses. Cheesy

Thank you, this is very useful info. I don't see how anyone can keep 100% of their emotions away, but you gave a good tip on this. Too many people don't think straight, especially if they are new in this whole thing (like myself). I like the /7 tip the most. This is is something I haven't considered as a firm decision yet.

carlisle1

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Though this are all common ideas that must every users has,still youre too generous to post this here to help newbies or even old timer to have another set of knowledge for not to become another noob that might loss capital because of denying this reasons.keep it up mate and i believe this helpful tips might help many new comers ,i will bookmarked this for future sharing

wildflower18

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Quote from: waichi on July 01, 2018, 11:05:42 AM

Quote from: VeteranH on June 26, 2018, 11:50:00 AM

This is helpful. But can you explain what you mean by "do not trade with your emotions?" How is that possible? Thanks for feedback.

I think he only means that, avoid getting emotional when you see your coins falling. Try not to panic sell because it doesn't help. Just remain calm when bear market strikes because of its usual thing. Be patient on holding your coin until it reaches the best price to sell.

We can follow the lists mention not to panic selling nor not to be greedy. Although risks present at all times but we should be aware about this things may happen in crypto trading.

waichi

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Quote from: VeteranH on June 26, 2018, 11:50:00 AM

This is helpful. But can you explain what you mean by "do not trade with your emotions?" How is that possible? Thanks for feedback.

I think he only means that, avoid getting emotional when you see your coins falling. Try not to panic sell because it doesn't help. Just remain calm when bear market strikes because of its usual thing. Be patient on holding your coin until it reaches the best price to sell.

semobo

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Quote from: Bitinity on June 27, 2018, 05:29:13 AM

From those 10 tips, I'm interested to comment on the 4th tip.

Quote

4/ Don't sell your coins at loss,don't get into panic sale.Because if you brought protensial coin, then don't sell your coin if it dump.Because it will grow again after some days.

Basically selling at loss is OK if we know when the right time to do it and what to do next after selling it. Sometimes I sold my investment at lost when the price start dropping down and if I know it will continue going down then I'll sell it in order to buy it again with lower/cheaper price. Indeed it is risky, but I believe it will be more profitable to do so rather than just holding it till the price grow up again for unknown time.

Yes selling at loss is not always wrong we can make money with that to or to stop further loss and we need to buy them when the price is much lower which can eqaulize the loss we made before.Another way we can do is buy more coins when the price hits bottom line but the fact is that we don't know what is the bottom line.

buy_crypt_sell

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Very appreciated the 1.3 and 5 point they certainly need to show and read to all newcomers and follow these rules all the time while they trade crypto currency.

pey

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Trading was totally a mistake I've made to me, I switched to holding though I've lost lots of money this year I like holding and hate trading. Trading is huge mistake Cheesy

posi

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Quote from: Bitinity on June 27, 2018, 05:29:13 AM

From those 10 tips, I'm interested to comment on the 4th tip.

Quote

4/ Don't sell your coins at loss,don't get into panic sale.Because if you brought protensial coin, then don't sell your coin if it dump.Because it will grow again after some days.

Basically selling at loss is OK if we know when the right time to do it and what to do next after selling it. Sometimes I sold my investment at lost when the price start dropping down and if I know it will continue going down then I'll sell it in order to buy it again with lower/cheaper price. Indeed it is risky, but I believe it will be more profitable to do so rather than just holding it till the price grow up again for unknown time.

Technically, selling at loss price is not OK and this is better to do research before invest into a coin and always invest into coin with better utility. Besides,is if you carefully read what the OP said in #4 you will know what I mean.

big_bankir

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I would add one more item to this article, which at the moment is very relevant. This paragraph: Do not follow someone else's opinion and remember the original purpose of coming to the cryptocurrency market.

coffigayo

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In trade between the best coins then the upheaval will always exist, no matter how panicky there is no danger in this Cryptocurrancy world, if the price goes down then do not sell because the price will go up when the sale will lose. All of the things listed above are the postal effect it means that it is a statement. Again if you are going to experience a loss on the way and you are really eager to pursue your trading career then you will move forward safely.

Bitinity

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From those 10 tips, I'm interested to comment on the 4th tip.

Quote

4/ Don't sell your coins at loss,don't get into panic sale.Because if you brought protensial coin, then don't sell your coin if it dump.Because it will grow again after some days.

Basically selling at loss is OK if we know when the right time to do it and what to do next after selling it. Sometimes I sold my investment at lost when the price start dropping down and if I know it will continue going down then I'll sell it in order to buy it again with lower/cheaper price. Indeed it is risky, but I believe it will be more profitable to do so rather than just holding it till the price grow up again for unknown time.

nydiacaskey01

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Quote from: jony35490 on June 15, 2018, 11:44:00 AM

10 MISTAKES YOU SHOULD NEVER DO IN CRYPTO TRADING Wink

LET'S START Cool

1/ Don't be so greedy,as something is better than nothing.If you get 10% profit then try to sell out and exit.Otherwise you will lose all your money if you want more than 10%.

10% profits is pretty high if you ask me. I respect your opinion on the 10% profits don't get me wrong on that but in this trying times in Cryptocurrency, waiting for your investment to earn at least 10% might give you more of a headache than profits. Lowering it down to 4% - 6% or even lower is better and achievable in this bear market that we are experiencing for now.

wodebutterfly

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Thank you for the sharing! If pick one of the most significant one, i would say you should avoid panic sell in any circumstances. As a market that is easily manipulated by news and fuds, you may suffer tremendous loss if you choose to cash out in a panic way when the market suddenly turn downward without any reason or being affected by some regulatory policies. One example for this is Chinese ICO ban back in Sep. 2017 when a lot of investors choose to cash out (including me) and sold all the crypto assets in a super cheap price. And if you look back ans say it you choose to hold or even accumulate more cheap ones during that period of time, most of them will bring you a tremendous amounts of profits!

bitbunnny

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Agree with all that and would add also not to listen to false information from untrusted sources like social network. They can often create panic and make you do wrong decisions. And I realy think that false information are a big problem in Bitcoin community.
But I guess many people don't trust other people experiences and mistakes, they have to make their own to learn. It's much harder way but sonetimes only this helps.

crea8ivemoiz

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Thanks for the amazing tips.

cydrix

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Quote from: jony35490 on June 15, 2018, 11:44:00 AM

2/ Never buy altcoins when bitcoin price is unstoppable.

How do you know when an altcoin is unstoppable every changes can happen on an altcoin and unpredictable things may occur in crypto currency as long as someone has money to manipulate all changes of course it needs an incredible amount what would be the point if you just invested million it will only grow a little depends on the volume.

trupero_uno

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Quote from: jony35490 on June 15, 2018, 11:44:00 AM

10 MISTAKES YOU SHOULD NEVER DO IN CRYPTO TRADING Wink

LET'S START Cool

1/ Don't be so greedy,as something is better than nothing.If you get 10% profit then try to sell out and exit.Otherwise you will lose all your money if you want more than 10%.

2/ Never buy altcoins when bitcoin price is unstoppable.

3/ Never invest your all money in one coin you must diversity.

4/ Don't sell your coins at loss,don't get into panic sale.Because if you brought protensial coin, then don't sell your coin if it dump.Because it will grow again after some days.

5.Never invest all btc in altcoins keep some btc in wallet for right time.If you like one coin most,don't invest your all money on this coin.Keep some btc for right time.

6/ Always make your portfolio, decide part if short and long time.

7/ Don't sale your long term coins at panic sale.You should hold your long term coins for 1 or 2 years.

8/ Don't do trading with your emotions keep them aside.

9/ Don't do day trading without proper knowledge.Before learning day trading don't go for it.Otherwise you will lose your all money.

10/ Never buy coins at their all time high price.Don't buy coin at their high price, wait for dump and buy at deep.

Guys if you follow this 10 strategy, then I'm sure you will be safe from losses. Cheesy

Nice tips and suggestion, overall those are some of risk management that should be considered by a trader beside technical and fundamental analysis. To add your tips and suggestion, here my thread for further additional reference: https://bitcointalksearch.org/topic/if-you-think-trading-is-risky-why-you-dont-use-risk-management-4546469 (Risk Management On Trading To Optimize TA and FA and Reducing Psychology Effect)

Clark05

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This is helpful to us not only but the priority for this is newbie who are start trading. Because they have newbie trader who did not read anything and they start trading and the result is failes or losing money. Better to read a lot of information about what you should do or not should do while you trading because it helpful to you to become successful or to earn money.

yanto@1977

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Quote from: jony35490 on June 15, 2018, 11:44:00 AM

10 MISTAKES YOU SHOULD NEVER DO IN CRYPTO TRADING Wink

LET'S START Cool

1/ Don't be so greedy,as something is better than nothing.If you get 10% profit then try to sell out and exit.Otherwise you will lose all your money if you want more than 10%.

2/ Never buy altcoins when bitcoin price is unstoppable.

3/ Never invest your all money in one coin you must diversity.

4/ Don't sell your coins at loss,don't get into panic sale.Because if you brought protensial coin, then don't sell your coin if it dump.Because it will grow again after some days.

5.Never invest all btc in altcoins keep some btc in wallet for right time.If you like one coin most,don't invest your all money on this coin.Keep some btc for right time.

6/ Always make your portfolio, decide part if short and long time.

7/ Don't sale your long term coins at panic sale.You should hold your long term coins for 1 or 2 years.

8/ Don't do trading with your emotions keep them aside.

9/ Don't do day trading without proper knowledge.Before learning day trading don't go for it.Otherwise you will lose your all money.

10/ Never buy coins at their all time high price.Don't buy coin at their high price, wait for dump and buy at deep.

Guys if you follow this 10 strategy, then I'm sure you will be safe from losses. Cheesy

Agree with you but for me, it's look like basic psychology method. This post should do to protect your asset from you not from the market or other people. Most people loss because they can't control their mindset and emotion, profit not always become the main purposes. Do your post and practice will make better result.

Topic: 11 Mistakes you should never do in crypto trading✌✌ - page 11. (Read 2211 times)