Experience facilitates better understanding

cytpoway121

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Quote from: wingfield_crypto on March 12, 2020, 09:58:02 AM

I believe that in the crypto market there are 2 ways to learn if you are a beginner. The first method would be to learn from your own mistakes. This is a method that is generally applied in everyday life and is the most efficient, but it is not indicated on the crypto market because it is about losing money. The second method involves more information and you learn from the mistakes of others. I recommend good information.

I think you are right, But do you know that you can also learn when you do not make mistakes ? By trying out a new stuff and doing things differently.

I think it is hard to learn from others mistakes, because you will not be made aware the steps that led to the mistakes.

And regarding good information, you need to source for that yourself.
Thats why personal research function is compulsory for every crypto currency trader or investor and even bounty hunters.

bison

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Quote from: cytpoway121 on March 12, 2020, 08:32:32 AM

Quote from: rhey on February 20, 2020, 06:41:31 AM

to recover assets is of course very difficult because we do not know will go down very far or will go up, if the assets go down not too far you should cut losses and if it is in loss you hold

I think sometimes it is difficult to cut losses.
For example, bitcoin has gone from 8,000 to 6000 in few days.

Traders who are unable to convert to usdt are now hovering over to continue to hodl or cut losses, its a definite difficult situation...

I will reiterate that, despite doing proper researches, we must always take profit

dump that happens is very sudden. but we do not despair now, try waiting for the next few days what happens in the market. and I guess for most day traders it will save their money in USDT. but for long-term investments, there must be other strategies to be able to rotate their money again.

wingfield_crypto

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I believe that in the crypto market there are 2 ways to learn if you are a beginner. The first method would be to learn from your own mistakes. This is a method that is generally applied in everyday life and is the most efficient, but it is not indicated on the crypto market because it is about losing money. The second method involves more information and you learn from the mistakes of others. I recommend good information.

cytpoway121

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Quote from: rhey on February 20, 2020, 06:41:31 AM

to recover assets is of course very difficult because we do not know will go down very far or will go up, if the assets go down not too far you should cut losses and if it is in loss you hold

I think sometimes it is difficult to cut losses.
For example, bitcoin has gone from 8,000 to 6000 in few days.

Traders who are unable to convert to usdt are now hovering over to continue to hodl or cut losses, its a definite difficult situation...

I will reiterate that, despite doing proper researches, we must always take profit

ArIMy11

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Quote from: cytpoway121 on February 18, 2020, 01:12:54 PM

I think for traders who has loses or altcoins investors with lower profits and more loses.

When your trade goes wrong; It is better to test and practice different methods and strategies over an extended period of time.

Instead of panic investing to recover loss.

Remember experience facilitates better understanding

NB: basically my thoughts and practices method. How do you go about yours??

It always a trial and error in the beginning. Trading of cryptos is like the reality of the stock market. If you do not truly understand,more chances of losing but I consider this an opportunity to gain knowledge since I am not a fan of reading and I can truly understand it when I already have an expereince on it. We need to invest time. Yes do not panic. Too much emotion put in this kind of thing is not good.

bonyaserg

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Experience in any work is always needed since experience gives a very correct approach in any work. At the moment, I have a lot of experience in cryptography and I always know how to read the graph of how this or that coin will go on the crypto market. And this makes it possible to sell the coin on the stock exchange and get a good profit.

cytpoway121

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Quote from: gundala on February 21, 2020, 05:00:28 PM

Quote from: cytpoway121 on February 18, 2020, 01:12:54 PM

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Remember experience facilitates better understanding
NB: basically my thoughts and practices method. How do you go about yours??

That is a risk. If you want to trade but do not want to lose then leave. Risks and losses are what must be faced, not feared, study the analysis well, discuss with other traders who are more experienced, it's a good effort that can be done. If you lose, don't give up, take a vacation to restore the mentality that falls, and don't forget to appreciate all your decisions are lessons, not mistakes. Don't be too obsessed with recovering losses, it can affect your decisions and analysis, just follow the flow and if there is an opportunity then use it well to recover losses. There is no harm in also trying to invest, but it needs to be considered many things, it will be more effective if you can join IEO in global top exchanges such as Binance and Huobi.

It is true that loses and risks cannot be avoided trading crypto currencies.

But then you should acknowledge that there are avoidable losses especially in crypto currency.

Joining ieo on top exchanges does not guarantee profits, because you hodl exchange tokens which prices can dip as you purchase ieo.

I get your points though, but i emphasize that there are avoidable losses

Hypnosis00

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Quote from: Arkann on February 21, 2020, 02:21:06 PM

I think that this issue can be discussed in different ways, because each person masters different knowledge in practice and in theory in his own way, since one person having theoretical understanding, in practice replenishes his base of experience. But on the other hand, each trader can simultaneously gain experience and, thanks to successes and losses, acquires not only the appropriate skills, but also understands the whole process in trading more.

Indeed, you can't call yourself successful if you never have to commit mistakes, suffering losses, and wins.
Just looking for the best doctor, and one criterion is to look that has a long practice on his/her profession. The same thing here, the more you get involved in trading, the more we are knowledgeable of the market.

gundala

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Quote from: cytpoway121 on February 18, 2020, 01:12:54 PM

~
Remember experience facilitates better understanding
NB: basically my thoughts and practices method. How do you go about yours??

That is a risk. If you want to trade but do not want to lose then leave. Risks and losses are what must be faced, not feared, study the analysis well, discuss with other traders who are more experienced, it's a good effort that can be done. If you lose, don't give up, take a vacation to restore the mentality that falls, and don't forget to appreciate all your decisions are lessons, not mistakes. Don't be too obsessed with recovering losses, it can affect your decisions and analysis, just follow the flow and if there is an opportunity then use it well to recover losses. There is no harm in also trying to invest, but it needs to be considered many things, it will be more effective if you can join IEO in global top exchanges such as Binance and Huobi.

cytpoway121

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Quote from: kawetsriyanto on February 20, 2020, 06:58:16 PM

I do agree with this statement, "Experience facilitates better understanding ".
But of course, when evaluating our experience and going to make a better strategy, we must also learn not only from the experience. Although experience is the best teacher, we should also learn from other sources such as gaining information about trading, investing, and also other crypto news from the forum, YouTube, Website, and others. This is to complete your next strategy based on the experience that you have done.
In this case, never make the same mistake in the future.

Yes you are right, theres a need to explore several sources of knowledge with Youtube leading the list

I have found interesting trade guides on taklimakan blog equally. Theres this newscrypto platform am watching after, hopefully i can learn from there too

Arkann

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I think that this issue can be discussed in different ways, because each person masters different knowledge in practice and in theory in his own way, since one person having theoretical understanding, in practice replenishes his base of experience. But on the other hand, each trader can simultaneously gain experience and, thanks to successes and losses, acquires not only the appropriate skills, but also understands the whole process in trading more.

Baby Dragon

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Experience will help you develop your understanding by making you realize how you can properly manage your trade. Some experiences may be bad but it will make an impact on your way of thinking and even on your decision making because you will learn to consider it as a foundation of your choices. Perceiving the lesson from your experiences will guide you on analyzing the possible result of any actions or decisions that you will be making as you continue your trading journey.

wedosgibas

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here we go

People will be easier or want to learn from bad experiences. I was repeatedly trapped there, maybe panicked and saw news that I thought had great potential, but in fact was not very.

danherbias07

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It's true.
It had been always experience which you could lean on whenever something goes south.

Optimism clouds you and it is one of the better way to get out from losing something specially with trades which mostly happens.
Instead of giving up, why not make adjustments into where you might good about.
IMO, I won't force it if I cannot understand something or I am bad at it for a long time.
Switching to the shallow methods could gain better result.

gaston castano

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I will avoid new coins for long-term deposit, except for short-term profits.
and I think that's why there are still those who invest in new projects even though not as much as before.
because they bet on something that is uncertain, and will not hold it for long.

sana54210

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I have seen a lot of people who have tried panic investing only to end up in the worst situation. It’s always best that you have patience, learning never ends, as time goes on you will be getting some experience that will be useful to you in your future trades. And as the saying goes – experience is the best teacher.

When I started trading cryptocurrencies at first, at the end of every month I’m always realizing bigger losses than the profits I have made. But those things never made me to give up, instead I chose to look on the positive sides and to figure out the things I was doing wrong. I kept coming up with different strategies and applying them to see what would work best for me. So that’s how it is, you shouldn’t give up easily, you keep trying till you’re good at it.

el kaka22

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This has been the number one thing I have tried to tell everyone who wants to invest into anything. Experience of both the investors and the team is the real thing here, if the investor is experienced in investing into anything, they will know what to look at and where to look at and what is important and what is not and so forth. You could have a new coin that the team promotes crazily, but if the thing they promote is not something important, in the long run they will lose all they have.

On the other hand, if the team is experienced, they will know what is important and they will focus on that instead of unimportant stuff. Experience of knowing the crypto market and its insides out very well will serve everyone amazingly, get more involved with everything.

fortunecrypto

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Quote from: cytpoway121 on February 18, 2020, 01:12:54 PM

I think for traders who has loses or altcoins investors with lower profits and more loses.

When your trade goes wrong; It is better to test and practice different methods and strategies over an extended period of time.

Instead of panic investing to recover loss.

Remember experience facilitates better understanding

NB: basically my thoughts and practices method. How do you go about yours??

Experience is always the best teachers especially on trading, each not enough that you see how trading works in instruction and videos you have to feel and make small mistakes for a big trading experiences, if you do not know how to handle losses you are not likely going to trade effectively.

kawetsriyanto

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I do agree with this statement, "Experience facilitates better understanding ".
But of course, when evaluating our experience and going to make a better strategy, we must also learn not only from the experience. Although experience is the best teacher, we should also learn from other sources such as gaining information about trading, investing, and also other crypto news from the forum, YouTube, Website, and others. This is to complete your next strategy based on the experience that you have done.
In this case, never make the same mistake in the future.

SaidNurs

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It becomes a strength and knowledge, where a new knowledge that is acquired is also accidental to make wise understanding, it is true that it is experience.
That way compilation of something that happens is not complicated, because experience has become our subject, be a wise person in whatever involvement happens in the world of crypto.

fuer44

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yes, from experience we can understand a little about trends. that when the price rises slightly, it will not necessarily go up and when the price goes down, it does not mean it will get deeper. so far most of them still use this method, including me where when the value of altcoin drops slightly, then buy. but precisely stuck technology. so it is indeed very difficult to predict but from that experience at least we have considerations that are far better than before.

Zurcermozz

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Yup, I agree on you, I still remember when I thought that the market is really okay, and I invested my full money there, and I am newbie during that time, even now, I remember when the price gets high, I am so hype, I keep holding my coin, then suddenly it drops, and almost become sh** coin, I panicked and release all my money, and I lose, then after few weeks it returns normal.

rhey

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Quote from: trauchot on February 20, 2020, 05:55:00 AM

From the very beginning, everyone will have difficulties in stable profit in cryptocurrency trading or simply in investing in cryptocurrency, so from the very beginning you need to start trading and investing with small amounts and then, with more experience, you can start trading and investing big amounts.

all indeed starts from the name of defeat or loss, from the loss will get a lesson and improve it in investing but we do not know their capital is able or not to learn the investment world

rhey

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to recover assets is of course very difficult because we do not know will go down very far or will go up, if the assets go down not too far you should cut losses and if it is in loss you hold

trauchot

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From the very beginning, everyone will have difficulties in stable profit in cryptocurrency trading or simply in investing in cryptocurrency, so from the very beginning you need to start trading and investing with small amounts and then, with more experience, you can start trading and investing big amounts.

buleidada

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if I invest I not only put my money on one coin but divide it into several so when there is a loss there must be a profit or put all the money for one coin but buy it in stages to reduce losses

cytpoway121

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Quote from: GreenStox on February 20, 2020, 03:40:02 AM

I think what has happened certainly will not be the same as that which has not yet happened I mean the market is unpredictable the price will not be the same even if you look at the graph that has passed and try to apply it.
but at least it's better than not doing research at all.

It is true that the market is not predictable and sometimes trade will go south.
But the more you trade, the more profits / loss you encrue. the basis is to learn from both the wins and losses. Apply the lessons to future trades, and get even further better.

Quote from: GreenStox on February 20, 2020, 03:40:02 AM

but at least it's better than not doing research at all.

And remember, you must always do your research.

GreenStox

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I think what has happened certainly will not be the same as that which has not yet happened I mean the market is unpredictable the price will not be the same even if you look at the graph that has passed and try to apply it.
but at least it's better than not doing research at all.

minairia3

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This isnt gambling and trading needs patience. If youre gonna after your losses and lose ability to focus then youre just going to lose continously.

Quote from: Kemarit on February 19, 2020, 06:20:01 PM

Of course you will loose money along the way, it's unavoidable, but at least you gain important lessons that can help you out in the future specially if you wanted to stay in the game longer.

Yeah learn from it but its not good to always lose right? Gaining knowldge is there but if your leverage trading still not improving aftet that, maybe the problem isnt with the style but the volatility of market. Correct entry point still rekt. Sometime market is giving a false hope even though your on the right pattern.

Kotone

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Quote from: cytpoway121 on February 18, 2020, 01:12:54 PM

I think for traders who has loses or altcoins investors with lower profits and more loses.

When your trade goes wrong; It is better to test and practice different methods and strategies over an extended period of time.

Of course if you loss a lot from trading, then revwnge by doing all or nothing thinking wouldnt be wise move. Remember there are lots of thing to do or might do to recover. Losing in trading doesnt really the end of the world. You just need to find or learn how to execute and apply it well so next time no more bloody bath.

jerrison

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Quote from: cytpoway121 on February 18, 2020, 01:12:54 PM

I think for traders who has loses or altcoins investors with lower profits and more loses.

When your trade goes wrong; It is better to test and practice different methods and strategies over an extended period of time.

Instead of panic investing to recover loss.

Remember experience facilitates better understanding

NB: basically my thoughts and practices method. How do you go about yours??

true advice. It is always the experience people gather from different areas of adventures that further advises them better on what to do and at what time to do it. investments in crypto trading should be strategically driven with sufficient knowledge on the strategy and pattern. i also learnt from same.

Kasabus

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Quote from: Kemarit on February 19, 2020, 06:20:01 PM

Definitely, as you mature and gain the needed experience, then you can better understand how the system works. That's why I don't understand newbies who wanted to get a trading bot in the beginning. Because it wouldn't help them that much. It's better to go to this painful process of learning to really grasp what this is all about.

Of course you will loose money along the way, it's unavoidable, but at least you gain important lessons that can help you out in the future specially if you wanted to stay in the game longer.

It's normal to make loses and pains in the start because this will create positive motivation to understand the market better and perform well. Experience will always be the best teacher for all traders and investors because if you fail in the beginning, you will definitely learn from it and would be more eager to discover something new that will fit to your longings.

Kemarit

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Definitely, as you mature and gain the needed experience, then you can better understand how the system works. That's why I don't understand newbies who wanted to get a trading bot in the beginning. Because it wouldn't help them that much. It's better to go to this painful process of learning to really grasp what this is all about.

Of course you will loose money along the way, it's unavoidable, but at least you gain important lessons that can help you out in the future specially if you wanted to stay in the game longer.

Hypnosis00

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Quote from: cytpoway121 on February 18, 2020, 01:12:54 PM

I think for traders who has loses or altcoins investors with lower profits and more loses.

When your trade goes wrong; It is better to test and practice different methods and strategies over an extended period of time.

Instead of panic investing to recover loss.

Remember experience facilitates better understanding

NB: basically my thoughts and practices method. How do you go about yours??

Indeed, the experience is a best teacher.
Of course, you can't just fully learn how trading works if you don't run on your own. Reading books, online tutorials are quite different from the actual scenario and you can apply the strategies that you have to get from the others and to see how effective it was.

Bonwin

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Experience is a teacher on its own. Your encounters of today or tomorrow can be traced to what happened in the past. Although, it is not how far, but how well. Can you just imagine that you could have someone who has been into trading for the past three tears and yet, he is still making hell of mistakes. It means he has not been able to learn from the mistakes he made.
Well, sometimes, the easiest way to trade, if you do not have much of the skill is to use grid trading bot. It involves some mechanisms, but it can also be very simple to initiate
There are sites that offer such services, but you will have to inquire if the exchange you trade on ahs been connected to it. That also goes with the coin you intend trading. With that, you can sleep back and be rest assured that your trade is ongoing, alongside profit-making.

adzino

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Quote from: cytpoway121 on February 18, 2020, 01:12:54 PM

I think for traders who has loses or altcoins investors with lower profits and more loses.

When your trade goes wrong; It is better to test and practice different methods and strategies over an extended period of time.

Instead of panic investing to recover loss.

Remember experience facilitates better understanding

NB: basically my thoughts and practices method. How do you go about yours??

True, experience does matter. When you are new and you make some loss during your trading, you shouldn't get disheartened. You should be at least glad that you got to try out something and gain some experience and understanding of the market. Keep on testing strategies with small capital. Don't expect to make profits during those stage. Think of the loss as a form of investment to learn something. Eventually you will get better at it and start making decent profit.

passwordnow

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I dont panic anymore when I see that my trades are losing. It is one of the lessons that I have learned and trading and by staying on crypto market. Despite how huge your losses or profits are but if you are nog responsible with your action, a beautiful situation might be come worse.
Another lesson, dont buy altcoins that you just felt FOMO because it is rising.

Ashong Salonga

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Quote from: cytpoway121 on February 18, 2020, 01:12:54 PM

I think for traders who has loses or altcoins investors with lower profits and more loses.

When your trade goes wrong; It is better to test and practice different methods and strategies over an extended period of time.

Instead of panic investing to recover loss.

Remember experience facilitates better understanding

NB: basically my thoughts and practices method. How do you go about yours??

I totally agree with that. It is indeed that whenever an investment of your fail and the methods you have been using provides the same failed result, better think of another method on how you can regain your loss. Thinking of another method can be easily done by observing or taking into consideration the past mistakes your past method have and by those weaknesses, create a strong solution so that you can create better method that might lead you to success. Learning from our past experiences really teaches us on how we can easily react once the same thing happens once again so we already know what exactly we can do to avoid doing the same mistakes once again. Remember that getting into panic won't help you think wisely but might just create a distraction that can lead to impulsive decision. Experience let us have better understanding of everything so that we can easily create better solution for an existing problem.

leowonderful

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One of the worst things you can do in trading is trying to 'earn back' losses because what happens most of the time is your trading devolves into more or less gambling as you try to recoup your losses and you forget about risk management and other trading systems you might have in place to minimize losses.

If you lose money from a trade that's gone wrong, look back at what you were doing before, during and possibly after the trade. It's typically very easy to pick out your mistakes in hindsight, though it's harder to correct them for the future. It's okay to make mistakes as long as you're learning from them.

ife2020

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I think its a basics in life. The more we learn, the more we get up from our mistakes the better we are

So either you are a Bounty hunter or a trader, or an investor, never forget your lessons, and be willing to learn more.

fvb

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Quote from: cytpoway121 on February 18, 2020, 01:12:54 PM

I think for traders who has loses or altcoins investors with lower profits and more loses.

When your trade goes wrong; It is better to test and practice different methods and strategies over an extended period of time.

Instead of panic investing to recover loss.

Remember experience facilitates better understanding

NB: basically my thoughts and practices method. How do you go about yours??

Trading experience certainly gives a great advantage. I will not say that I am an experienced trader and have extensive trading experience, but time has shown that intuition has personally helped me many times. This feeling has helped me many times and even brought real profit.

mahilchii

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Honestly even I have learnt a lot of lessons. while trading on a coin you have to research multiple times, also it's always better to give prior on the top coins rather than going for a new one.

I request to the investors to have some knowledge before jumping on crypto without knowing anything, crypto is so risky and Very volatile so think about it and step into this.

DarkDays

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The vast majority of traders simply jump into the market with little to no understanding of why the market is moving, how to anticipate its direction, when to cut your losses/take profits etc.

This is why most traders get completely rekt while trading, because they think they can just enter a game dominated by experts with absolutely no knowledge.

Automated trading bots and expert traders love uneducated fools entering the market and throwing their money away.

chennappa121

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I gained a lot of experience from my mistakes while crypto trading in early days because of my wrong choice and distinction. Now I will go with only top coins or tokens in crypto market and those should have good reputation in crypto world.

Practices investments is one of best way to make money good profits in crypto market and I will do regularly but I never sell in panic because you will feel very bad when it will bounce back again so better to hold long until you reach target.

akram143

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Quote from: cytpoway121 on February 18, 2020, 01:12:54 PM

I think for traders who has loses or altcoins investors with lower profits and more loses.

When your trade goes wrong; It is better to test and practice different methods and strategies over an extended period of time.

Instead of panic investing to recover loss.

Remember experience facilitates better understanding

NB: basically my thoughts and practices method. How do you go about yours??

Not every altcoin holder basically have trust on their holding coins,they are doing it just for profits when they are failing to meet their intention then probably they will jump into better coins which is not bad strategy either but even for a trader its important to choose the right coins for trading by doing this you can reduce the huge dumps by whales.Whenever you are buying a coin for trading purpose two things we have to keep in mind that are wat is the goal price to sell and what is the maximum price to reach below from your purchased price.

cytpoway121

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I think for traders who has loses or altcoins investors with lower profits and more loses.

When your trade goes wrong; It is better to test and practice different methods and strategies over an extended period of time.

Instead of panic investing to recover loss.

Remember experience facilitates better understanding

NB: basically my thoughts and practices method. How do you go about yours??

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