How can I avoid making this trading mistake? It's giving me a headache

electronicash

legendary

Activity: 3178

Merit: 1054

you're not the only who lose money. this bloodbath hasn't lasted yet it could get worse if all are still going to sell what they hold. sometimes it jsut happen that we taught its already the bottom and so we buy.

Quote from: Ryanpogi on April 02, 2018, 11:47:27 PM

My advice is to do not trade if you have a headache. so you will not be stressed or confused. It's a shame if it's happened. thanks.

best advice you can take. Grin

ryan must have been having a headache too but he's right. don't trade when you have headache.

leavolnhals

full member

Activity: 770

Merit: 101

Quote from: quickie69 on March 13, 2018, 01:07:14 PM

So I bought 10k worth of ETH because I wanted to begin swing trading with 10K for potential solid profits via swing trades. However, I had to wait a damn week on Coinbase to receive it. However, by the time I had finally received it, the value of ETH has gone down so I only got around $9,700. So basically from there on, Im down 300 dollars, which only left me with $9,700 to begin swing trading with. So let's say I dump all the $9,700 into an alt coin for a swing trade. So in this situation, I'm already down $300. I am not happy. Let's say hypothetically, the alt coin I want to swing trade is priced at 45 cents. If the coin goes up to 47 cents and sell, I would have made $431 in profit, but if you actually think about, I would only actually make barely over $100 in profit since I've spent $10,000 worth of ETH in the very first place and value of ETH had gone down. Huh

It seems coinbase has not worked well. You can put your money on trading platform Binance, Bittrex or Hitbtc to trade faster.
You are a very quick and intelligent calculator but you are wrongly investing in altcoin. $ 10k for profit every day then you should invest in bitcoin or when the market is going down. Any altcoin can provide you with a profit of $ 500 a day as long as you invest in the right time. Your problem is time and I have introduced you to the better trading floor. Hope you will not have trouble again. Wink

xjcjf

newbie

Activity: 116

Merit: 0

First of all, if you invest in this currency, you should be prepared for this. Whether Bitcoin or Ethereum or any cryptocurrency, they all have the potential to rise or fall. When you invest in this currency, you should do it. Good worst plan, this will make good judgments.

Direwolve735

full member

Activity: 448

Merit: 232

Such situations are the norm for the crypto-currency market. Prices of altcoins change all the time, they are unstable and it is unlikely that they will ever be so, so you have to accept it and learn how to deal with it. Perceive a situation in which you were not as your own mistake, but as an opportunity to learn something new and gain experience in trading. You can achieve something only in this way. And I would advise working with another exchange, since a week of waiting can really spoil your plans.

olubams

hero member

Activity: 798

Merit: 503

Quote from: quickie69 on March 13, 2018, 01:07:14 PM

So I bought 10k worth of ETH because I wanted to begin swing trading with 10K for potential solid profits via swing trades. However, I had to wait a damn week on Coinbase to receive it. However, by the time I had finally received it, the value of ETH has gone down so I only got around $9,700. So basically from there on, Im down 300 dollars, which only left me with $9,700 to begin swing trading with. So let's say I dump all the $9,700 into an alt coin for a swing trade. So in this situation, I'm already down $300. I am not happy. Let's say hypothetically, the alt coin I want to swing trade is priced at 45 cents. If the coin goes up to 47 cents and sell, I would have made $431 in profit, but if you actually think about, I would only actually make barely over $100 in profit since I've spent $10,000 worth of ETH in the very first place and value of ETH had gone down. Huh

Trying to avoid making a mistake, is a mistake on its own and its better than not trying at all. In this world of volatility, its the outcome that decides whether its a mistake or not and if it happened that way, it then give an opportunity to learn and move on without whinning about the past. I would appreciate an update though because since the past few days, it has been a situation of red all through and would want to know how you were able to pull through in this trying period.

nicolas1979

sr. member

Activity: 826

Merit: 252

Quote from: quickie69 on March 13, 2018, 01:07:14 PM

So I bought 10k worth of ETH because I wanted to begin swing trading with 10K for potential solid profits via swing trades. However, I had to wait a damn week on Coinbase to receive it. However, by the time I had finally received it, the value of ETH has gone down so I only got around $9,700. So basically from there on, Im down 300 dollars, which only left me with $9,700 to begin swing trading with. So let's say I dump all the $9,700 into an alt coin for a swing trade. So in this situation, I'm already down $300. I am not happy. Let's say hypothetically, the alt coin I want to swing trade is priced at 45 cents. If the coin goes up to 47 cents and sell, I would have made $431 in profit, but if you actually think about, I would only actually make barely over $100 in profit since I've spent $10,000 worth of ETH in the very first place and value of ETH had gone down. Huh

Mistake happen fix it and accept the result and for this problem, you only have two option. One keep hold it until the market have significant price moving, take this step need extra patience. Second, cut loss and start again from beginning or wait, this step accept the result need hard work because your asset loss bigger value. Every action ( OP, SL, TP ) always has risk, so calculate again which one is the best for you. Good luck and have a nice day.

Ryanpogi

member

Activity: 294

Merit: 10

My advice is to do not trade if you have a headache. so you will not be stressed or confused. It's a shame if it's happened. thanks.

jhenfelipe

hero member

Activity: 1372

Merit: 647

You should always have a second option (plan B) if ever the result came out not according to your original plan. Eth is a good coin to hold and the price fluctuates often, you will not lose if you won't sell it at a lower price than your purchase price (that's a good plan B).

If you really want a swing trade, in your example that would be fine as long as you're in profit at the end. I do swing trades before and experienced that. If you bought high and sell low, good move is to buy lower then sell higher, you will still in profit that way. Just choose a good with active market coin.

setifien19

full member

Activity: 472

Merit: 101

Quote from: quickie69 on March 13, 2018, 01:07:14 PM

However, by the time I had finally received it, the value of ETH has gone down so I only got around $9,700. So basically from there on, Im down 300 dollars.

It happens often, no worries because it's the volatility nature of cryptocurrencies , they may fluctuate instantly from red to green and vice versa, just deal with it as a normal event .

Quote from: quickie69 on March 13, 2018, 01:07:14 PM

Let's say hypothetically, the alt coin I want to swing trade is priced at 45 cents. If the coin goes up to 47 cents and sell, I would have made $431 in profit

I don't trust such kind of investment, it's better to spread that 9700 $ ( which is a considerable amount ) on several " well studied " coins

nightmanisrightman

full member

Activity: 252

Merit: 101

Global Risk Exchange - gref.io

It isn't a trading mistake if you had to wait for the website and incurred losses because of that. There is only one way to avoid this trading mistake, are you ready? Don't trade

Digital Mutant

full member

Activity: 420

Merit: 105

Blockchain and digital currencies are very difficult to trade
most of speculators loose their money because of the inpredictable this market is and because of the high volatily

the only way to trade them without stressing out is to hold a good token/coin
and before buying to study a lot and learn about cryptocurrencies

most of people think it is free money and this is not true
It is the money of the future but it is not good for speculation

Idrisu

sr. member

Activity: 924

Merit: 260

This is part of the risk that professionals and experts are talking about and you have to change your orientation that in trading you only make money without loses. Trading is a very risky games be it swing trade and buying and holding. The earlier you are used to loses the better for you and with more profit and loss the $10,000 you are talking about is going to turn to $100,000.

Nisharawal

member

Activity: 336

Merit: 11

I am no stable coin. to the mooonn.. and back

Quote from: quickie69 on March 13, 2018, 01:07:14 PM

So I bought 10k worth of ETH because I wanted to begin swing trading with 10K for potential solid profits via swing trades. However, I had to wait a damn week on Coinbase to receive it. However, by the time I had finally received it, the value of ETH has gone down so I only got around $9,700. So basically from there on, Im down 300 dollars, which only left me with $9,700 to begin swing trading with. So let's say I dump all the $9,700 into an alt coin for a swing trade. So in this situation, I'm already down $300. I am not happy. Let's say hypothetically, the alt coin I want to swing trade is priced at 45 cents. If the coin goes up to 47 cents and sell, I would have made $431 in profit, but if you actually think about, I would only actually make barely over $100 in profit since I've spent $10,000 worth of ETH in the very first place and value of ETH had gone down. Huh

It's trading my friend and you have to deal with situations like this many times, so don't fear it must go and face it with a good trade plan and strong money management techniques. Other than this i will recommend you to go and buy when the accumulation starts and you can enter after a strong green candle form and confirm the uptrend starting so that you can add on your positions with the rise of the trend. If you can't control your emotions then i would request you to read the best books to control the emotions and human psychology and that is The Disciplined Trader by Mark Douglas which is one of a favourite collection of trading books.

ajochems

hero member

Activity: 1305

Merit: 511

Quote from: quickie69 on March 13, 2018, 01:07:14 PM

So I bought 10k worth of ETH because I wanted to begin swing trading with 10K for potential solid profits via swing trades. However, I had to wait a damn week on Coinbase to receive it. However, by the time I had finally received it, the value of ETH has gone down so I only got around $9,700. So basically from there on, Im down 300 dollars, which only left me with $9,700 to begin swing trading with. So let's say I dump all the $9,700 into an alt coin for a swing trade. So in this situation, I'm already down $300. I am not happy. Let's say hypothetically, the alt coin I want to swing trade is priced at 45 cents. If the coin goes up to 47 cents and sell, I would have made $431 in profit, but if you actually think about, I would only actually make barely over $100 in profit since I've spent $10,000 worth of ETH in the very first place and value of ETH had gone down. Huh

Ethereum occupied the second place in cryptocurrency .So the coin which you had invested is good,surely it will give you some good return. I would like to know whether you need in any emergency. You made a huge investment in a single shot. Then why you want to sell at low price .Just hold the coin,you will get some more profit.

tora

member

Activity: 532

Merit: 13

A week is a long time to wait for an ethereum trade to complete. The problem you mention can happen at anytime because prices are moving continuously 24/7.You need an exchange that works quicker eg kucoin.

harizen

legendary

Activity: 3122

Merit: 1398

For support ➡️ help.bc.game

Quote from: quickie69 on March 13, 2018, 01:07:14 PM

So let's say I dump all the $9,700 into an alt coin for a swing trade. So in this situation, I'm already down $300. I am not happy. Let's say hypothetically, the alt coin I want to swing trade is priced at 45 cents. If the coin goes up to 47 cents and sell, I would have made $431 in profit, but if you actually think about, I would only actually make barely over $100 in profit since I've spent $10,000 worth of ETH in the very first place and value of ETH had gone down. Huh

You will only know your mistake once you have done it already. That is only your speculation. Stay positive so you can think of a good way.

So what to do now? Proceed in your plan and test it. In the world of trading, it's mandatory to do what you think will be profitable to you because in here we are finding our winning strategy. If the result is not good, then that's the time you will do some analyzation on where you did a mistake. After figuring that out, it needs now some modifications until you will able to get a good result.

Every traders doesn't know what will happened to their respective coins even how professional they are in doing market reading so find a way to deal with the market behaviour out from your self analysis.

P.S Next time, find other way to buy ETH.

mk4

legendary

Activity: 2870

Merit: 3873

Paldo.io 🤖

That's going to happen a lot. You just have to deal with it. Prices fluctuate A LOT. If you want to prevent stuff like that from happening, then probably buy ETH when it dips a bit, or probably buy it elsewhere whereas you wouldn't need to wait a week(though I can't really suggest an exchange that doesn't make you wait that long, probably try Gemini[1]?)

[1] https://gemini.com/

quickie69

jr. member

Activity: 41

Merit: 4

So I bought 10k worth of ETH because I wanted to begin swing trading with 10K for potential solid profits via swing trades. However, I had to wait a damn week on Coinbase to receive it. However, by the time I had finally received it, the value of ETH has gone down so I only got around $9,700. So basically from there on, Im down 300 dollars, which only left me with $9,700 to begin swing trading with. So let's say I dump all the $9,700 into an alt coin for a swing trade. So in this situation, I'm already down $300. I am not happy. Let's say hypothetically, the alt coin I want to swing trade is priced at 45 cents. If the coin goes up to 47 cents and sell, I would have made $431 in profit, but if you actually think about, I would only actually make barely over $100 in profit since I've spent $10,000 worth of ETH in the very first place and value of ETH had gone down. Huh

Topic: How can I avoid making this trading mistake? It's giving me a headache (Read 140 times)