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Topic: learn from my 3 mistakes I made in trading - page 4. (Read 638 times)

legendary
Activity: 2324
Merit: 1384
Fully Regulated Crypto Casino
January 05, 2025, 07:57:48 AM
#3
So, here’s a question - do you know right away when a coin is a shitcoin, or is it something you realize only after time and experience?
Every memecoin is a shitcoin mate. If I buy a shitcoin like meme coin, Id already expected my money gone, but I hold them off cause a chance to hit a gem could be there once hype. Thats why I am just buying low price amount for that matter so even it got died at least my loss is minimal. But in anycase it goy hype, youll definitely reap a good money.
legendary
Activity: 3318
Merit: 1185
Playbet.io - Crypto Casino and Sportsbook
January 05, 2025, 07:45:16 AM
#2
Never engage in medium or long-term trades with shitcoins.

Well, I guess this is one of my mistakes.

I’m talking about altcoins I bought during the 2017 bull run. Back then, I thought the project I was holding had legit potential. But after years of holding, the price is now practically worthless. Turns out, I ended up with a classic case of buying a shitcoin.

So, here’s a question - do you know right away when a coin is a shitcoin, or is it something you realize only after time and experience?
newbie
Activity: 18
Merit: 23
January 05, 2025, 07:38:33 AM
#1
Hi Amigos

Mistake #1:
Never engage in medium or long-term trades with shitcoins.
These highly volatile assets can be removed from exchanges at any moment, dropping sharply—sometimes by as much as -50%! They’re unpredictable, defy technical analysis, and swing wildly up and down.
Shitcoins are strictly for scalping or short-term trading, and using a stop-loss is absolutely essential.

Mistake #2:
Avoid overtrading at all costs.
Just because you’ve exited a trade—whether it was profitable or not—doesn’t mean you should immediately jump into another one. Sometimes not trading at all is a win in itself.
Excessive trading increases your chances of losses and drains your focus and patience.

Mistake #3:
Don’t buy newly-listed coins on exchanges, especially if you’re a beginner.
You’re at risk of becoming liquidity for early investors or teams dumping their tokens on you. This has happened many times with freshly-listed coins—beware of the hype!

that's my 3 mistakes , What's yours ?
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