11 Mistakes you should never do in crypto trading✌✌ - page 13.

atrocityx

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

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.

I agree with this one but only in certain circumstances.. I think if you're maybe trying to predict a bottom on bitcoin and buying alts you may would want to put a tight stop loss, unless it continues down just to get you out of that position before things get bad... but definitely don't do sell now at a 50-60% loss, you'll just have to be stuck bagholding until the situation gets better.

ummart66

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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.

Emotional trading can mean a different thing to different people. In my opinion it's becoming too attached to the coins you've bought. This may cause to to keep buying as the price falls, or to hold onto as the price drops into massive losses for you. Unfortunately this can really only be broken with experience, I'm still bag holding a few coins I should've sold a long time ago, but have been too attached to them.

Other explanations could be 'tilt' from trading. In video games it's easy to get upset after losing a couple games. This may cause you to perform worse, but keep playing because you need to win some. Usually this leads to more losses. In trading it may be easy to lose big on a trade, so you start making risky trades in an attempt to earn your money back. Ideally, you should know when to walk away and take a break and relax. Again this comes with experience, especially because it's easy to think that if you don't make a trade right now you'll lose your opportunity to make the money back.

VeteranH

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

jony35490

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11 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.

11/ Do not join any pumping group in telegram. Because the group's administrators take benefit by using us and we face many big losses.Don't be greedy and join their group.

Guys if you follow this 11 strategy, then I'm sure you will be safe from losses. Cheesy

Topic: 11 Mistakes you should never do in crypto trading✌✌ - page 13. (Read 2211 times)