Few lessons learned from my past to keep up with crypto - page 2.

Edith1994

newbie

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Quote from: sheenshane on February 18, 2022, 06:10:48 PM

Aim profit target and have a game plan

yes I really agree with you because an investor who doesn't have goal (target), game plan and also strategy when it comes to investment he or she is in-between the line of success and failure.

most of this investor who fall understand these categories mostly lose focus in their investment and that leads to lose.
And also most of the investors never continue.

So I believe that having a goal ( Target),game plan and also strategy is also a good key.

Peanutswar

legendary

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Top Crypto Casino

Most of the newbies nowadays into the crypto world always want to be part of the large earners already so once there's a trend they always chase up, once there a group tells its a good profit here they would like to invest too. Learn from your mistakes and the mistakes of other people. Always do your own research, get data, ask for data, and create that information to make sure it's accurate and lessen the possible risk. Not all the time does crypto give a profit only people who are smart always manage to survive.

Charles-Tim

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Leading Crypto Sports Betting & Casino Platform

Quote from: Edith1994 on February 18, 2022, 04:57:43 PM

you must go through the ups and down of a trade or field and you must be a risk taker.

It is good to be careful and have more experience before taking risks, some risks are not worth going for. Example is that most people will think trading is fine, but they will trade and continue to lose. Taking risk while investing in cryptocurrencies like Bitcoin is worth it, the long term result should be profitable.

Quote from: PX-Z on February 18, 2022, 05:14:07 PM

Another thing, don't put all your eggs in one basket, incase a hack incident even though that the trading website always tell their funds is always safe, always be vigilant and do things on your own.

Even, it is also good to never leave the coins not used for trading on exchanges just because any exchange can be hacked at anytime, moving the coins to a noncustododial wallet will give total control and left to the owner to protect its coins which should preferably be on cold wallet which is more secure.

tranthidung

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Farewell o_e_l_e_o

Quote from: Edith1994 on February 18, 2022, 04:57:43 PM

2. Have the spirit of holding

You will only be able to hold if you invest with your money. If you borrow money, use leverage, whatever source of capital which is not yours own, you won't be able to actually hold.
Loan repayment calls, margin calls, collateral liquidations, etc. will kill you and you will have to stop your hold anytime.

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3. Never give up
4. Never be discouraged

It depends on what project or coin you invest in. If you invest in shitcoin, you have to determinantly give up before it is too late. In bear market, altcoins have /100 or /1000 that is not a strange painful fact you can see.

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5. Always trade with the right platform

Not your keys, not your coins. It is what people talk about in crypto. That means you must own private keys or mnemonic seeds in order to actually own your coins or tokens. Store them in custodial wallets with which platforms own keys/ seeds, not you then in the end, you don't actually own anything if they pull the scam exit.

https://notyourkeys.org/

bitmover

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bitcoindata.science

Quote from: Edith1994 on February 18, 2022, 04:57:43 PM

I believe without my experience, I won't be able to understand more about crypto currency.
some of the lessons I've learned so far are:

1. Never be in a hurry
2. Have the spirit of holding
3. Never give up
4. Never be discouraged
5. Always trade with the right platform
6. Always trade with the rules of crypto ( escrow, never Invest what you can't afford to lose)
7. Never have the spirit of fear: fear is the number one key of failure.

I think most of those lessons also applies for investing in general, such as the stock market.

Hurry leads to fomo. If you are in hurry, it is probably a bad investment.

I also think that holding is usually a good idea. However, it is no shame to change your mind and sell an asset which you don't like anymore, and do not look back.

TimeTeller

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Quote from: PX-Z on February 18, 2022, 05:14:07 PM

Well, experience is the best teacher after all.

Another thing, don't put all your eggs in one basket, incase a hack incident even though that the trading website always tell their funds is always safe, always be vigilant and do things on your own.

Everyday is a learning day for all us, whether you are a newbie or legendary in this market.
You can't attain the expertise overnight, it is like a lifetime journey. Each day, we will learn something and a lil bit of everything.
It is the virtue of perseverance why we are still here and keep on fighting with this life.
It is good to know that there are newcomers who are not losing hope in this market.
In time, they will be the new veterans and someone to look up to when it comes to their journey in this industry.

sheenshane

legendary

Activity: 2492

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You've been forgetting the most important one.

Aim profit target and have a game plan
Invest in what you can afford so that you can able to wait when your profit come

There are too many factors that you must consider and should learn. I tend to agree above, practice is the best teacher and we should always learn from our mistake and avoid it in the future. Your input will encourage newbies to manage their portfolios very well.

PX-Z

hero member

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pxzone.online

Well, experience is the best teacher after all.

Another thing, don't put all your eggs in one basket, incase a hack incident even though that the trading website always tell their funds is always safe, always be vigilant and do things on your own.

Edith1994

newbie

Activity: 14

Merit: 16

I have really learn alot and continues to learn even more from my mistakes in crypto currency, especially the trading and investment accept. I've come to realize that in life, for you to become what ever you want, you must go through the ups and down of a trade or field and you must be a risk taker. I believe without my experience, I won't be able to understand more about crypto currency.
some of the lessons I've learned so far are:

1. Never be in a hurry
2. Have the spirit of holding
3. Never give up
4. Never be discouraged
5. Always trade with the right platform
6. Always trade with the rules of crypto ( escrow, never Invest what you can afford to lose)
7. Never have the spirit of fear: fear is the number one key of failure.

Topic: Few lessons learned from my past to keep up with crypto - page 2. (Read 282 times)