Topic: About my first loss - This might help newcomers as a learning curve (Read 264 times)
October 24, 2019, 01:11:37 PM
We all seem to experience this I'm new bought some coins early this year, kept wishing for higher price to sell which never happened yet I hold but I've lost huge sum already.
October 24, 2019, 09:59:39 AM
Many experienced the same thing including me, the decline in assets was quite sharp and because of thought it could go up in the near future, and also the impatience of seeing a price that didn't go up made me choose to sell cheap, but luckily only 30% of my assets from bought, the rest is from bounty and saving from campaign rewards.
October 24, 2019, 04:46:21 AM
you are not one here, who waited too long to bitcoin to come back to 20k
then you tired of waiting and sold everything in a desperation move.
and after your sale within few month/weeks bitcoins back to 13k
damn!
no advises here. cause every decision were made because of circumstance, all I can say hope you will recover from this.
then you tired of waiting and sold everything in a desperation move.
and after your sale within few month/weeks bitcoins back to 13k
damn!
no advises here. cause every decision were made because of circumstance, all I can say hope you will recover from this.
October 24, 2019, 03:29:40 AM
Till now I haven't experienced any big loss. I always try to hold more and sell when the market is peak so that at least I can get a little bit of profit. I think if we will make the right investment decession then we will not get any loss.
October 24, 2019, 01:56:44 AM
there's nothing new about that. just a scenario that often happens in the market, many experienced the same even in different market than crypto
October 23, 2019, 05:57:49 PM
I also faced this.My all coin was worth 50k$+ in January 2018.after dumped my balance was around 24k$+.sold my few coins around 18k$ and in my country one people scammed me 4.5k$ (local people ).after that i bought few coins and holding it.and trying to do daily trading.But I have no regret at all. actually I want to earn and trade.But in 2017-18 so many people faced this problem.
October 23, 2019, 12:31:18 PM
As mentioned in the subject line I am one of those whose life was changed after the bullish market at the end of 2017 but I did eventually lost a huge chunk because of greed. I lost huge amount of money just because I did not sell it off during the peak and wanted the value to cross $25,000 which eventually led to collapse in the market situation and I had to sell it off for a mere $5,000 after a long wait expecting market to recover. The mistake which I made was not selling it when the value declined after reaching the peak. Kindly share your experiences as well as it will help new folks.
I didn't experience any huge losses but I believe that with the right tools we can avoid such losses.
October 23, 2019, 03:24:58 AM
yeah this is the experiences price. you can never buy it without loss 
and any newcomer not listen this warnings because this crypto market not seems to any other financial market in terms of volatility, peaks, spikes
and any newcomer not listen this warnings because this crypto market not seems to any other financial market in terms of volatility, peaks, spikes October 23, 2019, 03:21:53 AM
I also almost lost 70% of my assets because of my lust for profit when it was already profit but I held it to make my profit higher, but the chart said differently, the altcoin I bought was a bad dump so my assets were minus about 70% and at that time I didn't install stop loss, my advice for those of you who want to trade, if it's already profitable then sell immediately so it doesn't dump back.
October 23, 2019, 02:19:30 AM
When one of the great investors was asked for the secret of his success, he replied "Selling too soon".
October 23, 2019, 02:10:48 AM
<…>
I can’t make out if the loss you mention is real of virtual. By real I mean that you bought at a high price and sold for 5K. That is a tangible loss. On the other hand, by virtual loss I’m referring to a loss of opportunity for having missed out on selling at peak (not that it was easy to foresee how it would go at the time), not incurring in real heavy losses, but rather creating one of those "if only I had …" pins jagged hard into the memory.I hope you are well aware of market situation last year as we was once speculated to cross $25,000 and that's the reason I had decided to sell it off when it crosses the mark of $25,000 and by the month of April 2018 the market was not as good as it was and I still waited till April 2019 and had to sell it off ot avoid further loss which turned to be a fatal mistake, actually the situation was like that as the value was between $3,500 to $4,000 for a while before April 2019 and finally in April 2019 I had to sell it off.
October 23, 2019, 01:16:30 AM
<…>
I can’t make out if the loss you mention is real of virtual. By real I mean that you bought at a high price and sold for 5K. That is a tangible loss. On the other hand, by virtual loss I’m referring to a loss of opportunity for having missed out on selling at peak (not that it was easy to foresee how it would go at the time), not incurring in real heavy losses, but rather creating one of those "if only I had …" pins jagged hard into the memory.<…>
Of course I’m aware. What I meant is that the effective loss depends on where you are coming from (i.e if you bought back say in April 2017, the price was just over 1K). The purchase price is not clear, and therefore I cannot discern if the loss is effective or a loss of opportunity. October 23, 2019, 01:08:59 AM
As mentioned in the subject line I am one of those whose life was changed after the bullish market at the end of 2017 but I did eventually lost a huge chunk because of greed. I lost huge amount of money just because I did not sell it off during the peak and wanted the value to cross $25,000 which eventually led to collapse in the market situation and I had to sell it off for a mere $5,000 after a long wait expecting market to recover. The mistake which I made was not selling it when the value declined after reaching the peak. Kindly share your experiences as well as it will help new folks.
@Wysi while I can understand you were unable to sell when Bitcoin prices were at an all time high, I’m unable to understand why did you sell it for $5k. If only you could have hodl your coins till 2019, then you would have been able to sell it for $13k. I feel we all can learn an important lesson from this, that is not to let our greed over power our decision making skills.
October 23, 2019, 01:02:27 AM
Not selling at the peak is already a huge mistake, followed by even a worst mistake by selling it at $5,000. I can't believe you've missed two major opportunities in just one scenario.
Care to share why you sold it at $5,000 mark?
Maybe because you lost faith in Bitcoin? Thinking it will gradually die and was just covering the possibility of further loss?
Care to share why you sold it at $5,000 mark?
Maybe because you lost faith in Bitcoin? Thinking it will gradually die and was just covering the possibility of further loss?
October 23, 2019, 12:52:09 AM
It's not really a loss per se but should rather be called not being able to take advantage of the market or misreading the market, therefore not being able to get the most out of it.
Its not really surprising since a lot of people were expecting BTC to rise more than 20k. Sadly, expectations were not met and many were instead disappointed and lost a lot of possible profit which they could have made.
Its not really surprising since a lot of people were expecting BTC to rise more than 20k. Sadly, expectations were not met and many were instead disappointed and lost a lot of possible profit which they could have made.
October 23, 2019, 12:24:01 AM
it seems to me that the mistake you made and the mistake that you still continue to make is thinking of bitcoin as tool to make you more "fiat" as profit and nothing else!
October 23, 2019, 12:18:27 AM
As mentioned in the subject line I am one of those whose life was changed after the bullish market at the end of 2017 but I did eventually lost a huge chunk because of greed. I lost huge amount of money just because I did not sell it off during the peak and wanted the value to cross $25,000 which eventually led to collapse in the market situation and I had to sell it off for a mere $5,000 after a long wait expecting market to recover. The mistake which I made was not selling it when the value declined after reaching the peak. Kindly share your experiences as well as it will help new folks.
I made the same mistake too but I'd stopped blaming myself eventually because it happened unexpectedly and I don't consider greed in putting faith in your investment that has a value to the community. Pehrpas it's just a lesson for us to be more aware to the market situation. Just because the market is going according to your technical analysis, it doesn't mean that it will go along that way. There will be a certain time wherein it wouldn't turn against you and you have to be prepared for that. 
October 22, 2019, 06:24:37 PM
Trading is brutal.
Predictions are wrong most of the time, and bitcoin make many unexpected movements.
Unless you study TA a lot, I don't think it is worth.
On the other hand , bitcoin's price increase a lot this easier, from 3k to 13 at peak, and now at 8.
Holding is still one of the most safe and profitable strategies, like most good assets.
Just buy some every month to dolar average it. That's my strategy
Predictions are wrong most of the time, and bitcoin make many unexpected movements.
Unless you study TA a lot, I don't think it is worth.
On the other hand , bitcoin's price increase a lot this easier, from 3k to 13 at peak, and now at 8.
Holding is still one of the most safe and profitable strategies, like most good assets.
Just buy some every month to dolar average it. That's my strategy
October 22, 2019, 06:18:24 PM
You made quite a number of mistakes.
- Greed
- Not knowing when to exit the market(you took too long to sell) - The period between 20K to 5K was a very long period of time, you could have sold at a good price ans still made some profit if you were to exit instinctively once the market had started crushing.
- Selling off at the deep - It was useless to sell off at 5K. You should have just held you position.
- Lack of Patience
- Using money that you can not afford to lose which later forced to sell off at 5k since you probably wanted to use it.
- Lack of plan, You did know when to take profit. When trading or HODLing bitcoin always know when to take profit. It isn't like you will be HODLing forever.
- Greed
- Not knowing when to exit the market(you took too long to sell) - The period between 20K to 5K was a very long period of time, you could have sold at a good price ans still made some profit if you were to exit instinctively once the market had started crushing.
- Selling off at the deep - It was useless to sell off at 5K. You should have just held you position.
- Lack of Patience
- Using money that you can not afford to lose which later forced to sell off at 5k since you probably wanted to use it.
- Lack of plan, You did know when to take profit. When trading or HODLing bitcoin always know when to take profit. It isn't like you will be HODLing forever.
October 22, 2019, 05:30:36 PM
As mentioned in the subject line I am one of those whose life was changed after the bullish market at the end of 2017 but I did eventually lost a huge chunk because of greed. I lost huge amount of money just because I did not sell it off during the peak and wanted the value to cross $25,000 which eventually led to collapse in the market situation and I had to sell it off for a mere $5,000 after a long wait expecting market to recover. The mistake which I made was not selling it when the value declined after reaching the peak. Kindly share your experiences as well as it will help new folks.
You know greed can't make you successful. That's what's happened to me also. Everything is pumping like crazy way back 2017. I earned for about over $20k and lost it in an instant. That's the problem in me, I didn't sell when I already got profit. I wait for another huge pump again and never happen. That's a lesson for me and to all of those who wants to get huge profit. Don't let greed eats you. It will change your life forever. Jump to: