How do you suggest I handle incorrect price predictions?

justdimin

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Quote from: arwin100 on September 20, 2023, 09:30:45 AM

Maybe some outcome has been predicted but not always since no guarantee at all that the insights we get is accurate so there are times that we are lucky and our predictions got hit but still we must be aware that turn of events came and unexpected scenarios will happen. Although market is unpredictable we should do more research about so that atleast we can understand how the market moves in different direction so that we might get a high chance to gain especially when same scenario upon trading comes.

That is the biggest peeve I have in the crypto market. There are people who end up with a few good results and they end up thinking that they will get all correct trades all year long, which we all know that won't happen. They keep claiming they are amazing at trades because they had a few good results, and that should not be the case at all.

I feel like the best way to go would be making sure that it is going to end up with a result that will end up with a loss one way or another. I hope that it can get to a better point, but that doesn't mean that we are going to end up with a result that is good all the time because we just had a few. We should consider that as a low level chance and not a big possibility.

Silberman

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Quote from: Franctoshi on September 20, 2023, 11:02:45 AM

Quote from: Davidvictorson on September 07, 2023, 10:37:32 AM

I find it frustrating when my price prediction for the market fails. I know that it is difficult to predict the market movement due to its uncertainty and also that it is not possible to consistently predict the future accurately but it still hurts when I tell it to my friends and it doesn't turn out so. In January, I had predicted that by the third quarter of the year, bitcoin would hit $35k - $40k. I hide my head in shame because right now it is struggling at $25. Maybe I should stop quarterly predictions and stick with monthly predictions. Also, how do you suggest I handle incorrect price predictions? Has anybody been here? How do you handle it?

Op, the market "Bitcoin" is not controlled by you or any entity but by supply and demand, hence making it unpredictable. all you need do as regards your price prediction in the future is to understand and have this mindset that you are only expecting what the price should do and there is no certainty that the price will always go your direction at the end of the day, So be more of a reactive trader and follow the trend (pay attention to the current market situations) to never hurt your emotion much.

I think the same as well, I understand that every single thing we do is done with the intention of things going our way, but at the same time it is impossible this will always happen, so we must learn to let things go, a single mistaken prediction is not really going to change anything as long as the strategy that we are using is a good one that has been backtested thoroughly, so with that in mind we need to simply accept that we will make mistakes regardless of how good our strategy is and how high is our skill as traders.

Franctoshi

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Quote from: Davidvictorson on September 07, 2023, 10:37:32 AM

I find it frustrating when my price prediction for the market fails. I know that it is difficult to predict the market movement due to its uncertainty and also that it is not possible to consistently predict the future accurately but it still hurts when I tell it to my friends and it doesn't turn out so. In January, I had predicted that by the third quarter of the year, bitcoin would hit $35k - $40k. I hide my head in shame because right now it is struggling at $25. Maybe I should stop quarterly predictions and stick with monthly predictions. Also, how do you suggest I handle incorrect price predictions? Has anybody been here? How do you handle it?

Op, the market "Bitcoin" is not controlled by you or any entity but by supply and demand, hence making it unpredictable. all you need do as regards your price prediction in the future is to understand and have this mindset that you are only expecting what the price should do and there is no certainty that the price will always go your direction at the end of the day, So be more of a reactive trader and follow the trend (pay attention to the current market situations) to never hurt your emotion much.

arwin100

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Quote from: barisbilgili on September 20, 2023, 08:23:28 AM

Quote from: tygeade on September 20, 2023, 03:18:14 AM

Quote from: savetheFORUM on September 19, 2023, 11:21:34 AM

There are right predictions but those predictors are mostly lucky. There is no way they can predict accurately at all times, so the OP shouldn't feel bad. As long as he keeps on predicting and maybe predict a little smarter like include analysis with it, he could also get it correctly. That's right, that we should not take predicting seriously so that it won't gives us a stress. Prediction were in fact invented to entertained us. We can see the volatility of the market by looking at the charts.

Speaking of volatility, it's also the reason on why predicting is so hard. We can't put everything in our hands but we can have a chance if we are like the whales. So right now, the only thing that we can do is to embrace it. It was not a disadvantage anyway but rather an advantage.

Predicting is something that we could barely do for ourselves let alone do it for others as well, I understand the need to feel awesome when you help others to make profit as well but the feeling of helping others make profit as well is a lot less than the fear of making others lose money.

This is why it would be smarter if you could avoid that and just focus on yourself, it would make a lot of sense to do something like that and would be a lot more profitable as well. Even if you end up losing, there is nobody that you have to respond to, nobody could say a thing about it because it is your own money and you can do whatever you want with it, all of the responsibility is yours and you face the consequences of your own actions.

Maybe there are only a few people who predict correctly but I think this could just happen due to luck alone, very few people make predictions exactly as they say, if there are people who make predictions just want to look cool to other people I think there are It's better if those who see these predictions don't follow them because they don't do it based on what they understand well and this will be detrimental to other people. It's better to focus on what we already understand and continue to learn if there is something we don't really understand well. If we do it with something we already understand, of course this will be more satisfying when we make a profit and when we experience a loss. it will be easier to fix it because of the mistakes we make ourselves.

Maybe some outcome has been predicted but not always since no guarantee at all that the insights we get is accurate so there are times that we are lucky and our predictions got hit but still we must be aware that turn of events came and unexpected scenarios will happen. Although market is unpredictable we should do more research about so that atleast we can understand how the market moves in different direction so that we might get a high chance to gain especially when same scenario upon trading comes.

barisbilgili

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Quote from: tygeade on September 20, 2023, 03:18:14 AM

Quote from: savetheFORUM on September 19, 2023, 11:21:34 AM

There are right predictions but those predictors are mostly lucky. There is no way they can predict accurately at all times, so the OP shouldn't feel bad. As long as he keeps on predicting and maybe predict a little smarter like include analysis with it, he could also get it correctly. That's right, that we should not take predicting seriously so that it won't gives us a stress. Prediction were in fact invented to entertained us. We can see the volatility of the market by looking at the charts.

Speaking of volatility, it's also the reason on why predicting is so hard. We can't put everything in our hands but we can have a chance if we are like the whales. So right now, the only thing that we can do is to embrace it. It was not a disadvantage anyway but rather an advantage.

Predicting is something that we could barely do for ourselves let alone do it for others as well, I understand the need to feel awesome when you help others to make profit as well but the feeling of helping others make profit as well is a lot less than the fear of making others lose money.

This is why it would be smarter if you could avoid that and just focus on yourself, it would make a lot of sense to do something like that and would be a lot more profitable as well. Even if you end up losing, there is nobody that you have to respond to, nobody could say a thing about it because it is your own money and you can do whatever you want with it, all of the responsibility is yours and you face the consequences of your own actions.

Maybe there are only a few people who predict correctly but I think this could just happen due to luck alone, very few people make predictions exactly as they say, if there are people who make predictions just want to look cool to other people I think there are It's better if those who see these predictions don't follow them because they don't do it based on what they understand well and this will be detrimental to other people. It's better to focus on what we already understand and continue to learn if there is something we don't really understand well. If we do it with something we already understand, of course this will be more satisfying when we make a profit and when we experience a loss. it will be easier to fix it because of the mistakes we make ourselves.

tygeade

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Quote from: savetheFORUM on September 19, 2023, 11:21:34 AM

There are right predictions but those predictors are mostly lucky. There is no way they can predict accurately at all times, so the OP shouldn't feel bad. As long as he keeps on predicting and maybe predict a little smarter like include analysis with it, he could also get it correctly. That's right, that we should not take predicting seriously so that it won't gives us a stress. Prediction were in fact invented to entertained us. We can see the volatility of the market by looking at the charts.

Speaking of volatility, it's also the reason on why predicting is so hard. We can't put everything in our hands but we can have a chance if we are like the whales. So right now, the only thing that we can do is to embrace it. It was not a disadvantage anyway but rather an advantage.

Predicting is something that we could barely do for ourselves let alone do it for others as well, I understand the need to feel awesome when you help others to make profit as well but the feeling of helping others make profit as well is a lot less than the fear of making others lose money.

This is why it would be smarter if you could avoid that and just focus on yourself, it would make a lot of sense to do something like that and would be a lot more profitable as well. Even if you end up losing, there is nobody that you have to respond to, nobody could say a thing about it because it is your own money and you can do whatever you want with it, all of the responsibility is yours and you face the consequences of your own actions.

DVlog

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It's not practical to do short-term price predictions about the bitcoin market. The bitcoin market heavily reacts to every news event, no matter how positive or negative. A sudden news event can throw your prediction into the dust. If we want to play with the bitcoin market's every move, we need to keep an eye on the top news platform and react to news events ASAP. If you are predicting for a longer time frame, then you can be right about the price direction. We all agree on a bull market following the bitcoin halving, and we all know this is going to be true.

GeorgeJohn

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Quote from: Davidvictorson on September 07, 2023, 10:37:32 AM

I find it frustrating when my price prediction for the market fails. I know that it is difficult to predict the market movement due to its uncertainty and also that it is not possible to consistently predict the future accurately but it still hurts when I tell it to my friends and it doesn't turn out so. In January, I had predicted that by the third quarter of the year, bitcoin will hit $35k - $40k. I hide my head in shame because right now it is struggling at $25. Maybe I should stop quarterly prediction and stick with monthly predictions. Also how do you suggest I handle incorrect price predictions? Anybody been here. How do you handle it?

It's not nice for someone to depends on the predictions of bitcoin through other people, what I want us to understand in bitcoin predictions is that whosoever that predicts the price of bitcoin did so because it wants to predict, so of the predictors brings analysis that is not real and they have not make any research of the market, some times its not ideal to follow the predictions of another person and depends on the predictions, even in signal, some people do give out a signal that is inappropriate to the public and after following such predictions they now realize that the signal is made of false and inaccurate

carlfebz2

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Quote from: savetheFORUM on September 19, 2023, 11:21:34 AM

Quote from: Questat on September 08, 2023, 07:25:55 AM

Quote from: Davidvictorson on September 07, 2023, 10:37:32 AM

I find it frustrating when my price prediction for the market fails. I know that it is difficult to predict the market movement due to its uncertainty and also that it is not possible to consistently predict the future accurately but it still hurts when I tell it to my friends and it doesn't turn out so. In January, I had predicted that by the third quarter of the year, bitcoin will hit $35k - $40k. I hide my head in shame because right now it is struggling at $25. Maybe I should stop quarterly prediction and stick with monthly predictions. Also how do you suggest I handle incorrect price predictions? Anybody been here. How do you handle it?

First, you will understand that there are no right predictions that are ever made. In fact, you've found it by yourself now but don't become frustrated because that was the reality. As I made my predictions, I simply didn't think I was right as well but I have faith in crypto which makes me think that even if I was wrong, it doesn't mean that I fail. It is just to know that the market is so volatile, any time of the day or an hour it will change its course which makes us not see it. As we are here in the crypto space, better embrace the way it works rather that thinking about putting everything in our hands.

There are right predictions but those predictors are mostly lucky. There is no way they can predict accurately at all times, so the OP shouldn't feel bad. As long as he keeps on predicting and maybe predict a little smarter like include analysis with it, he could also get it correctly. That's right, that we should not take predicting seriously so that it won't gives us a stress. Prediction were in fact invented to entertained us. We can see the volatility of the market by looking at the charts.

Speaking of volatility, it's also the reason on why predicting is so hard. We can't put everything in our hands but we can have a chance if we are like the whales. So right now, the only thing that we can do is to embrace it. It was not a disadvantage anyway but rather an advantage.

Very normal behavior into those some people who do make out such claims that they are really that good when it comes to market prediction just because they had made out those right calls without even trying to realize that it is really just that something that their choices did make out to get in lined with the market movement and that what makes them really that having that boost up into their emotions and confidence
and trying out to claim something which totally that sounds absurd because on the time that you would really be that making some wrong bets then this is the time you would really be telling into yourself that
everything would really be that random and cant really be guessed. Cheesy

On the time that you do make yourself that confident on trying to handle the market movement and when it turns out that it is really wrong. Frustration and disappointment would be surely felt and this is something that would really makes you that realize in the end of the line. Well experience is the best teacher as we do all know. It is really just that there are some people or person who cant really be just make
or see those realizations.

savetheFORUM

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Quote from: Questat on September 08, 2023, 07:25:55 AM

Quote from: Davidvictorson on September 07, 2023, 10:37:32 AM

I find it frustrating when my price prediction for the market fails. I know that it is difficult to predict the market movement due to its uncertainty and also that it is not possible to consistently predict the future accurately but it still hurts when I tell it to my friends and it doesn't turn out so. In January, I had predicted that by the third quarter of the year, bitcoin will hit $35k - $40k. I hide my head in shame because right now it is struggling at $25. Maybe I should stop quarterly prediction and stick with monthly predictions. Also how do you suggest I handle incorrect price predictions? Anybody been here. How do you handle it?

First, you will understand that there are no right predictions that are ever made. In fact, you've found it by yourself now but don't become frustrated because that was the reality. As I made my predictions, I simply didn't think I was right as well but I have faith in crypto which makes me think that even if I was wrong, it doesn't mean that I fail. It is just to know that the market is so volatile, any time of the day or an hour it will change its course which makes us not see it. As we are here in the crypto space, better embrace the way it works rather that thinking about putting everything in our hands.

There are right predictions but those predictors are mostly lucky. There is no way they can predict accurately at all times, so the OP shouldn't feel bad. As long as he keeps on predicting and maybe predict a little smarter like include analysis with it, he could also get it correctly. That's right, that we should not take predicting seriously so that it won't gives us a stress. Prediction were in fact invented to entertained us. We can see the volatility of the market by looking at the charts.

Speaking of volatility, it's also the reason on why predicting is so hard. We can't put everything in our hands but we can have a chance if we are like the whales. So right now, the only thing that we can do is to embrace it. It was not a disadvantage anyway but rather an advantage.

laurenB7742

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Quote from: Out of mind on September 17, 2023, 10:14:29 PM

Quote from: Davidvictorson on September 07, 2023, 10:37:32 AM

✂️?

I have seen a lot of research that has made predictions that turn out to be completely wrong and backfired. When we entered the new year it was predicted that the value of Bitcoin would reach a good point, but that did not happen. The $30k/$40k position was supposed to be the level the Bitcoin market was at in early 2023, but it turned out to be completely different. Although the Bitcoin market touched $30k in half a year, it has since dropped back to $25,000, which has changed the market a lot. However, many studies have been done on the Bitcoin market, but most of the studies have failed and gone wrong. But in the future, the Bitcoin market will become a Sir's market again, and it is certain that the Bitcoin market will be $100,000 in the year 2024-25 as predicted by various experts.

There is one thing I learned from people's predictions, although it is not completely accurate, but sometimes it is very correct. That's bitcoin, the market always goes against the crowd's thinking, when people always shout that bitcoin will rise and continue to rise higher, bitcoin always disappoints the crowd and vice versa. So I don't want to be Fomo or follow the crowd, when people are greedy I will be more cautious.

One more thing, the percentage of people making money in the market is very small and the percentage of losses is the majority so I think we should stop following the predictions of the crowd.

FanEagle

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These type of things change from person to person, not only the person who was wrong, but the person who is the friend as well. There are people who would convince the friends to invest yet again if they were wrong, they are people who are so subdued by these type of complaints that they would pay out of pocket even if it wasn't their fault, or there are friends who knew the risks and would be fine, and there are friends who go around telling people you stole their money even though market went down.

So all in all, there isn't really an answer anyone can take from this topic, because it all depends on the person and how they would react and all that, which should not be a difficult thing to handle all that much.

KiaKia

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Quote from: Davidvictorson on September 07, 2023, 10:37:32 AM

I find it frustrating when my price prediction for the market fails. I know that it is difficult to predict the market movement due to its uncertainty and also that it is not possible to consistently predict the future accurately but it still hurts when I tell it to my friends and it doesn't turn out so. In January, I had predicted that by the third quarter of the year, bitcoin will hit $35k - $40k. I hide my head in shame because right now it is struggling at $25. Maybe I should stop quarterly prediction and stick with monthly predictions. Also how do you suggest I handle incorrect price predictions? Anybody been here. How do you handle it?

Good question, do you know that price analysis is very important in this aspect? This is why being a trader is very good because there are some tools you can use to know when to take profits, if you can't do this you should be prepared to gradually take profits as your coin starts surging.

If you are into Bitcoin, it's better to wait for the next bull market and once Bitcoin reach it's old all time high, at the value of 67k then you can start taking some.percentage off the table, you can start with 10% profits off the table, and see what happens over time.

Most predictions are wrong and they will always be, this is like a way of manipulation to make others believe that the price prediction is possible, and it will turn them into a sitting duck, which will create time for people to use you as exit liquidity.

Always believe that a prediction is a prediction, do not believe in everything people say about price online.

Out of mind

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Quote from: Davidvictorson on September 07, 2023, 10:37:32 AM

✂️?

I have seen a lot of research that has made predictions that turn out to be completely wrong and backfired. When we entered the new year it was predicted that the value of Bitcoin would reach a good point, but that did not happen. The $30k/$40k position was supposed to be the level the Bitcoin market was at in early 2023, but it turned out to be completely different. Although the Bitcoin market touched $30k in half a year, it has since dropped back to $25,000, which has changed the market a lot. However, many studies have been done on the Bitcoin market, but most of the studies have failed and gone wrong. But in the future, the Bitcoin market will become a Sir's market again, and it is certain that the Bitcoin market will be $100,000 in the year 2024-25 as predicted by various experts.

fuguebtc

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Quote from: Davidvictorson on September 07, 2023, 10:37:32 AM

I find it frustrating when my price prediction for the market fails. I know that it is difficult to predict the market movement due to its uncertainty and also that it is not possible to consistently predict the future accurately but it still hurts when I tell it to my friends and it doesn't turn out so. In January, I had predicted that by the third quarter of the year, bitcoin will hit $35k - $40k. I hide my head in shame because right now it is struggling at $25. Maybe I should stop quarterly prediction and stick with monthly predictions. Also how do you suggest I handle incorrect price predictions? Anybody been here. How do you handle it?

When I do something but it continuously doesn't bring me satisfaction, what I do is stop doing it. That's why I rarely make market predictions and for me those predictions are just for entertainment and I never expect anything because I know my prediction never happened.

Furthermore, I guess you are a stubborn person because you yourself know that bitcoin is unpredictable but you still feel annoyed when your prediction is not accurate. You should get rid of that because stubbornness has never benefited your investments or your life.

edy_58

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Quote from: Silberman on September 16, 2023, 04:06:36 PM

Quote from: Davidvictorson on September 07, 2023, 10:37:32 AM

I find it frustrating when my price prediction for the market fails. I know that it is difficult to predict the market movement due to its uncertainty and also that it is not possible to consistently predict the future accurately but it still hurts when I tell it to my friends and it doesn't turn out so. In January, I had predicted that by the third quarter of the year, bitcoin will hit $35k - $40k. I hide my head in shame because right now it is struggling at $25. Maybe I should stop quarterly prediction and stick with monthly predictions. Also how do you suggest I handle incorrect price predictions? Anybody been here. How do you handle it?

You are making one of the most basic mistakes a trader can make, which is to stick with your prediction to the point you feel bad when you fail to predict the market accurately, remember, what matters at the end is not how many predictions you got right or how close you were to predict the price perfectly, what matters is how much money you can make, and if you are making money out of this market then you should not care about a few mistaken predictions.

In trading we are faced with many choices of people who make predictions, but of the many people who make predictions, they don't even use the predictions they make because market conditions are rapidly changing, so it would be better to trade if we had the ability. yourself to trade and continue to learn from those who already have experience in this matter.

Silberman

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Quote from: Davidvictorson on September 07, 2023, 10:37:32 AM

I find it frustrating when my price prediction for the market fails. I know that it is difficult to predict the market movement due to its uncertainty and also that it is not possible to consistently predict the future accurately but it still hurts when I tell it to my friends and it doesn't turn out so. In January, I had predicted that by the third quarter of the year, bitcoin will hit $35k - $40k. I hide my head in shame because right now it is struggling at $25. Maybe I should stop quarterly prediction and stick with monthly predictions. Also how do you suggest I handle incorrect price predictions? Anybody been here. How do you handle it?

You are making one of the most basic mistakes a trader can make, which is to stick with your prediction to the point you feel bad when you fail to predict the market accurately, remember, what matters at the end is not how many predictions you got right or how close you were to predict the price perfectly, what matters is how much money you can make, and if you are making money out of this market then you should not care about a few mistaken predictions.

TheSpiral

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Quote from: boty on September 16, 2023, 03:36:01 AM

There is nothing wrong with choosing to believe someone's predictions, but before we choose someone's predictions we need to know how much knowledge they have about this. If they only make predictions that have no basis then we cannot make a decision to invest in that person's predictions. Yes, you are right, I think no one can predict market conditions accurately, so it is better for us to invest according to our abilities and not force ourselves if we are not able to do so.

correct! Traders who trust on everyone will be at high risk without any doubt therefore self confidence should be created to check the data of a person who is providing signals.

Because some people don't have similar thoughts as that of experts have so they cannot provide us an accurate and original signals. There is an app that will provide you accurate signals so without any charges you can download the signals offering applications.

I think one can also learn from experts providing signals through YouTube and Telegram for making an easy planning for trading or investment.

tygeade

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Quote from: Ojima-ojo on September 15, 2023, 08:33:57 AM

you don't control the market so why then should you predict the future, I think is more profiting to align your thoughts and approach towards having a balance ground regardless of the the outcome of the price of Bitcoin tomorrow or the next year, thos os so important for your well being because to most of us bitcoin os taken as a long term investment and that could mean lot of things along the way up or down depending on your projection.

But never the less, bitcoin have thrive so hard to be where it is, and we have to commend that as for the overall liquidity health of the bitcoin market and thos is also very important since we can't possibly predict the price of bitcoin at any certain time, so for that we may see Bitcoin achieving the $35k round in before the end of this quarter.

As long as you are doing what you think is right, there is nothing that others could tell you that should change your worth. Let them judge you for your mistakes and not appraise you for your success. If those are the type of people they are, we should not want to be around them anyway and they do not worth our time or even our thoughts. Only look for the people that have your best interest, otherwise it doesn't really worth it, doesn't even make sense to me at all.

I believe that we are going to end up with something much bigger, and should be an important part of it which would lead to us becoming bigger ourselves as well and could result with us doing much better on the long term. That's the type of people we should hang out with, who helps us grow.

boty

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Quote from: Falconer on September 15, 2023, 03:49:18 PM

Do not make predictions for the purpose of influencing other people's investment decisions, it may end badly for them if in reality market conditions will not be the same as you predicted. If they are forced to believe in your predictions, then ask them to consider the risks including only investing with a budget they can afford to lose.

No prediction will be 100% accurate, but it is certainly possible to make a prediction that is as close as possible. Your ability to analyze the market both fundamentally and technically can be a good reason to make predictions, but the point is, don't influence other people's investment decisions with your predictions. If you don't have good skills for it, then don't do it because the market and the future price of bitcoin are very difficult to predict.

There is nothing wrong with choosing to believe someone's predictions, but before we choose someone's predictions we need to know how much knowledge they have about this. If they only make predictions that have no basis then we cannot make a decision to invest in that person's predictions. Yes, you are right, I think no one can predict market conditions accurately, so it is better for us to invest according to our abilities and not force ourselves if we are not able to do so.

Topic: How do you suggest I handle incorrect price predictions? (Read 648 times)