FOMO is my favorite section and there's a big potential in this group. More and more people are getting into game not knowing a thing about crypto, which is also a bit concerning.
Then, they are just putting themselves at high risk and have their bad ends. That is it actually happens when we are not knowing what we are doing. They only have in their mind that there is easy money in crypto but quite not knowing how much the risk that they going to face in the future. 
Topic: 5 mistakes every crypto trader should avoid (Read 204 times)
Diversification
Sure diversification is a good thing, but everything in moderation right? The cryptocurrency market is pretty volatile, so be careful spreading yourself too thin over altcoins with small market caps, instead of focusing on a few larger coins. Always do extensive research before trading in any altcoins (if you’re really not sure, top traders recommend sticking to small amounts of Bitcoin, Ethereum, Ripple, and/or Litecoin to start).
Sure diversification is a good thing, but everything in moderation right? The cryptocurrency market is pretty volatile, so be careful spreading yourself too thin over altcoins with small market caps, instead of focusing on a few larger coins. Always do extensive research before trading in any altcoins (if you’re really not sure, top traders recommend sticking to small amounts of Bitcoin, Ethereum, Ripple, and/or Litecoin to start).
diversification means that your portfolio should contain the following:
- stocks
- bonds
- precious metal
- real estate
- bitcoin
if your so called portfolio contains bitcoin, ether ripple,.... then you are NOT diversifying. what you are doing is increasing your investment risk while reducing your profitability dramatically.
and every "top trader" already knows this. only the beginners who fall for the pump and dumps think otherwise.
more here: https://bitcointalk.org/index.php?topic=5199926.0;all
Without a doubt diversification is a great way to protect your portfolio but only if you do it right, otherwise it is better to not even bother and just keep all your money in bitcoin.
FOMO is my favorite section and there's a big potential in this group. More and more people are getting into game not knowing a thing about crypto, which is also a bit concerning.
Sometimes traders can't just follow the basic guidelines since we are in different situations.
Maybe I will put EXPERIENCE as the best guideline we have since if we are used to facing a different situation, we know what will be the approach to those. Our strategy improves in every mistake and loss as we progress.
Soon, after being in trades for a long time, our experience will teach us to avoid those 5 mistakes listed by the OP.
all of that is about controlling emotions during trade.
it is not easy to get used to it, and I think this is a difficult part of trading.
but I am very happy to write some motivational / strategy messages so that my trading is safe.
We believe it is all about self-control and it is too hard to consistently make it right, and it needs effort. It gonna be worthless if it never works to us and even gets easily affected to FUDs/FOMO spread around. For quite sometimes, we don't need to become proactive trader, listening for negative thoughts may give us also ideas that can be helpful in the future especially when making a decision. it is not easy to get used to it, and I think this is a difficult part of trading.
but I am very happy to write some motivational / strategy messages so that my trading is safe.
all of that is about controlling emotions during trade.
it is not easy to get used to it, and I think this is a difficult part of trading.
but I am very happy to write some motivational / strategy messages so that my trading is safe.
We believe it is all about self-control and it is too hard to consistently make it right, and it needs effort. It gonna be worthless if it never works to us and even gets easily affected to FUDs/FOMO spread around. For quite sometimes, we don't need to become proactive trader, listening for negative thoughts may give us also ideas that can be helpful in the future especially when making a decision. it is not easy to get used to it, and I think this is a difficult part of trading.
but I am very happy to write some motivational / strategy messages so that my trading is safe.
all of that is about controlling emotions during trade.
it is not easy to get used to it, and I think this is a difficult part of trading.
but I am very happy to write some motivational / strategy messages so that my trading is safe.
it is not easy to get used to it, and I think this is a difficult part of trading.
but I am very happy to write some motivational / strategy messages so that my trading is safe.
always try to follow the update news which enhances your idea and it makes you confident for the further step.
News is pretty worthless in my opinion. All the 'news' that matters is what the chart allows you to see, and from there you plan your next step forward.
If there is a spontaneous news event that does move the price, you then adapt to the change and adjust your positions. You don't have to continuously follow every news outlet to do so, the charts will be that indicator for you.
In general, news doesn't really affect the price at all; the longer term trend dictates the direction. At most news can accellerate a down/up trend, but only in the direction it was already moving towards. Good news doesn't have an impact on the price in a bear market and bad news not in a bull market. That's how it is.
There are also some strategy which should follow to a trader, I think at the first, Control your emotion during trading, emotion is the ultimate killer in order to ruin your successful trading, not don't follow your emotional signal, be technical and always follow the technical chart to identify the best way to male a good plan, secondly, Don't trade too much, it another wrong decision to make money by trading, always try to follow the update news which enhances your idea and it makes you confident for the further step. another important thing is that, don't pay heed to any gossiping group discussion, it may confuse your next step. so be careful.
One very vital tool that I never joke with in trading is the stop loos and take profit tool, because as a serious cryptocurrency trader, the best way that we can really control our emotion and our greed level is when we are able to use this tools as controlling it humanly is really not an easy task as it involves the use of decision.
When it comes to decision taking, humans really have so much issue with that, so I make sure that any platform that I am using for my trades must be one that has these tolls install on their trading platform, and lastly, from your point, FOMO is a very terrible thing and we need to be careful the way at which we listen to people's opinion because one of the factor for FOMO is opinions of people.
When it comes to decision taking, humans really have so much issue with that, so I make sure that any platform that I am using for my trades must be one that has these tolls install on their trading platform, and lastly, from your point, FOMO is a very terrible thing and we need to be careful the way at which we listen to people's opinion because one of the factor for FOMO is opinions of people.
This taste fomo is indeed very often felt by traders, when they see a surge in prices rise, they immediately panic buying, I personally have my own way to avoid that feeling. If i get a small profit, the easy thing is to leave the trade for a while, so as not to get caught up with that feeling, and wait until the correction time arrives.
When we plan our coin to be and believed in its potential to grow after awhile then don't believe in FOMo, it's OK to stop loss when the projects eeks to have no update but if its have an active team that keeps strategizing and the project is indeed useful then focus on the plan. Analyzed and be updated in our holdings 
You posted a similar article on November 7, 2019, 09:55:20 AM
https://bitcointalksearch.org/topic/5-mistakes-every-crypto-trader-should-avoid-5199458
Posting a repetitive post is unnecessary and only wastes the resources of the forum.
https://bitcointalksearch.org/topic/5-mistakes-every-crypto-trader-should-avoid-5199458
Posting a repetitive post is unnecessary and only wastes the resources of the forum.
Its clear that she just want to promote her youtube channel here to gain some views by doing this repetitive thread. I wonder if anyone in this forum will watch that video without payment. Most of the user here are used to have payment before they click or watch. LOL
Actually there's nothing wrong for that but aslong as he produced a valuable content that can help newbies to learn more from that mistake then provably that is ok but if he requires you to pay him up then that's another story and find this content as shady. But anyways let's get our heads up on suggestions since it has a valid points and those and other suggestion can be our guide so that we will not create the same mistake.
You posted a similar article on November 7, 2019, 09:55:20 AM
https://bitcointalksearch.org/topic/5-mistakes-every-crypto-trader-should-avoid-5199458
Posting a repetitive post is unnecessary and only wastes the resources of the forum.
https://bitcointalksearch.org/topic/5-mistakes-every-crypto-trader-should-avoid-5199458
Posting a repetitive post is unnecessary and only wastes the resources of the forum.
Its clear that she just want to promote her youtube channel here to gain some views by doing this repetitive thread. I wonder if anyone in this forum will watch that video without payment. Most of the user here are used to have payment before they click or watch. LOL
If we’ve said this once, we’ve said this a thousand times – never ever enter a position before placing a stop loss and take profit order. Find an exchange that offers leverage trading, and learn how to position your orders.
Do you recommend using leverage with cryptocurrencies? Bitcoin? For newbies? are you serious?Cryptocurrencies are highly volatile models, so using them as an investment can make profits without using leverage. Using it with Leverage is gambling.
For beginners: it is better to learn about cryptocurrencies using test coins, and for trading learn + using simulation.
Don't invest more than you can lose.
I appreciate that people spread these tips since the intentions are good, but I have seen them pop up from time to time in forex forums as well, and that is a market trading for decades.
If people haven't learned anything from these tips throughout all the time traditional markets have been trading digitally, it's safe to say that people won't be going to improve by reading similad tips. I wish they did but that's not the case.
Outcome will always be that most people lose trading. If everyone was smart and educated enough, people would be making the same decisions and mistakes, which means that there wouldn't be a market.
If people haven't learned anything from these tips throughout all the time traditional markets have been trading digitally, it's safe to say that people won't be going to improve by reading similad tips. I wish they did but that's not the case.
Outcome will always be that most people lose trading. If everyone was smart and educated enough, people would be making the same decisions and mistakes, which means that there wouldn't be a market.
You posted a similar article on November 7, 2019, 09:55:20 AM
https://bitcointalksearch.org/topic/5-mistakes-every-crypto-trader-should-avoid-5199458
Posting a repetitive post is unnecessary and only wastes the resources of the forum.
https://bitcointalksearch.org/topic/5-mistakes-every-crypto-trader-should-avoid-5199458
Posting a repetitive post is unnecessary and only wastes the resources of the forum.
It is the reason why they keep on experiencing losing their funds and assets than gaining and earning, a trader should examine every situation so they won't end up feeling remorse because of their decisions and actions. Sometimes traders made some mistakes and it's okay as long as you learn from it and you allow it to guide you so you can not do it again but there are some traders who keeps on risking their own money just because they feel that they will earn. They will risk a huge amount of money to trade without even thinking about the possible result of their decisions.
I think over trading can be someone’s worst enemy. I believe back testing trades and finding significant resistance and support levels is everything in my opinion. Always wait for those signals to happen before rushing into a trade, don’t try to find and alternative trade plan just so you can keep trading. Find what works and stick to it, as boring as it may seem. also it is mistake to look at short term gains rather than long term fundamentals of the project. at the end of the day, prices will fluctuate but if the fundamentals and capacity to implement them are there then it should pay off. Nonetheless, never put more money than you're willing to lose.
I agree with this one over trading can be cause of greediness and because of that it can harm your trading strategy that can cause of losing your capital, the 5mistake that OP mentioned is also right that why we also need to study and learn the basic principles of trading before doing any action like stoploss/take profit.
I would like to know who are the people who created these tips and what were the maximum profits, the biggest losses they had and what capital they started. Why would I like to know these things? to see if these tips have produced good results for them. Talking is very simple, but doing is very difficult. People can say:
Don't put feelings when you trade.
But let's face it, we're dealing with money, who can be calm watching their money reduce? we all get worried when we lose money
Don't put feelings when you trade.
But let's face it, we're dealing with money, who can be calm watching their money reduce? we all get worried when we lose money
I think we don't need that details of the one who created this because those tips are usual thing in crypto and everyone would advice those things to the other people, and yeah you're right the teory is not the same when we trade of the field because the market is dynamic and our emotion can be controlled by the market and sometimes we will break the rule of trade that even we already know. So, those tips are not easy to implement but at least we know it.
This taste fomo is indeed very often felt by traders, when they see a surge in prices rise, they immediately panic buying, I personally have my own way to avoid that feeling. If i get a small profit, the easy thing is to leave the trade for a while, so as not to get caught up with that feeling, and wait until the correction time arrives.
That is the result of not controlling it, Fomo often happens and even makes a panic by making the wrong decision, but in trading with the surge we have to reach it well or analysis techniques I am sure will be the best when the price spike occurs.
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