Topic: LESSONS FROM CRYPTO MARKET - page 19. (Read 2405 times)
The only lesson i got hold on to now is that, we should all have this very long line of patience in order to survive this wild market. Fear is the people's natural way to save himself, while patience will takes place after. Greed is somehow connected to it because as what you said, if you want more, you'll wait untill your money grows bigger.
Don't know about fear and greed as these are emotional quotients. But I can certainly vouch for "Stop loss" as this is a very basic mistake made by every single trader during their initial days of trading. I repeat, every single trader has done this mistake by not putting a "stop loss".
Let me share one of my experiences with you. In 2011, I used to work with a well known stock broking company as a customer service executive. We were the ones who used to get the trade recommendation of that day before anyone else. That was the first day of the month and I had just received my salary so I decided to try my luck with one of the recommendations. Every recommendation comes with a stop loss amount as well. However, when I placed the trade as soon as the market opens up, I simply ignored the stop loss. Within next 3 minutes, I had lost 70% of my salary because I didn't set up the stop loss. That month, I had to borrow money from my dad to cover my travelling expenses. That is one of the greatest lesson I learned that day for stop loss.
Ignoring stop loss can be super fatal that I learned the hard way!
Agreed!!! It does sound a big lesson for you Let me share one of my experiences with you. In 2011, I used to work with a well known stock broking company as a customer service executive. We were the ones who used to get the trade recommendation of that day before anyone else. That was the first day of the month and I had just received my salary so I decided to try my luck with one of the recommendations. Every recommendation comes with a stop loss amount as well. However, when I placed the trade as soon as the market opens up, I simply ignored the stop loss. Within next 3 minutes, I had lost 70% of my salary because I didn't set up the stop loss. That month, I had to borrow money from my dad to cover my travelling expenses. That is one of the greatest lesson I learned that day for stop loss.
Ignoring stop loss can be super fatal that I learned the hard way!
Only one thing ive learned in this crypto market:
Never hodl your coins ,dont ask for higher price and big profit or else you will regret if the price will suddenly drop.
indeed, if we are not good at analyzing, but for those who have good fundamental techniques, certainly not afraid to hold coins that have the potential to have a good future. indeed, today many are frustrated because the prices have dropped dramatically, and therefore many have eroded their confidenceNever hodl your coins ,dont ask for higher price and big profit or else you will regret if the price will suddenly drop.
Certainly, this is the risky part of business we tend to hope for the bigger profit and so greed comes in. Well, this is the consequences of being risky which we also lose and all we can do is being wise enough especially what happens in 2018. Many definitely are losing last year that leaves a scars and probably make them to be more careful this year.
After a year, a lot of lessons that we did learn. There are 2 precious things that I think I should remember:
+ Fear
+ Greed
I learned that from my teacher, he said when you buy Bitcoin at 10k, it's then $12k your greed rises inside you and you don't want to take profit and expect more. Then, the downtrend is coming, BTC goes down to $8k, you'll be scared to cut loss, and what'll happen, you lose more while BTC drops to $4k.
So, we need to set up your expected profit point as well as the stoploss point.
How about you, what is your lesson?
Greed is the thing caused lot of harms to the crypto market investors,they just keep speculated about $20K but there were some people who took advantage of it and made money by dumping and dumping too very low level.But don't lose your hope the prices will increase is the another lesson we will be able to learn in future. + Fear
+ Greed
I learned that from my teacher, he said when you buy Bitcoin at 10k, it's then $12k your greed rises inside you and you don't want to take profit and expect more. Then, the downtrend is coming, BTC goes down to $8k, you'll be scared to cut loss, and what'll happen, you lose more while BTC drops to $4k.
So, we need to set up your expected profit point as well as the stoploss point.
How about you, what is your lesson?
Only one thing ive learned in this crypto market:
Never hodl your coins ,dont ask for higher price and big profit or else you will regret if the price will suddenly drop.
Never hodl your coins ,dont ask for higher price and big profit or else you will regret if the price will suddenly drop.
That is quite enough for us and not only you, because in these situations, but we also cannot expect a big profit except if the price is getting a pump by some people. It is better for us to take any profit every time we can so we do not regret and hold too long in any coins because holding coins need big patience which not all people can have.
Only one thing ive learned in this crypto market:
Never hodl your coins ,dont ask for higher price and big profit or else you will regret if the price will suddenly drop.
indeed, if we are not good at analyzing, but for those who have good fundamental techniques, certainly not afraid to hold coins that have the potential to have a good future. indeed, today many are frustrated because the prices have dropped dramatically, and therefore many have eroded their confidence Never hodl your coins ,dont ask for higher price and big profit or else you will regret if the price will suddenly drop.
Only one thing ive learned in this crypto market:
Never hodl your coins ,dont ask for higher price and big profit or else you will regret if the price will suddenly drop.
Never hodl your coins ,dont ask for higher price and big profit or else you will regret if the price will suddenly drop.
That is absolutely a great advice, to make profit in trading we need experience and knowledge, the difference between greed and taking risk is only little, greed means you make decisions base on your guts and feeling, taking risk means you make decision based on the chart, analysing and the experience about the market, I learn a lot from my first trading and my first lesson is never to trust anyone to make decisions for your trade
After a year, a lot of lessons that we did learn. There are 2 precious things that I think I should remember:
+ Fear
+ Greed
I learned that from my teacher, he said when you buy Bitcoin at 10k, it's then $12k your greed rises inside you and you don't want to take profit and expect more. Then, the downtrend is coming, BTC goes down to $8k, you'll be scared to cut loss, and what'll happen, you lose more while BTC drops to $4k.
So, we need to set up your expected profit point as well as the stoploss point.
How about you, what is your lesson?
+ Fear
+ Greed
I learned that from my teacher, he said when you buy Bitcoin at 10k, it's then $12k your greed rises inside you and you don't want to take profit and expect more. Then, the downtrend is coming, BTC goes down to $8k, you'll be scared to cut loss, and what'll happen, you lose more while BTC drops to $4k.
So, we need to set up your expected profit point as well as the stoploss point.
How about you, what is your lesson?
This is what we called entry and exit strategy.
1. Entry point -
Quote
DEFINITION of Entry Point
Entry point is the price at which an investor buys an investment. The entry point is usually a component of a predetermined trading strategy for minimizing investment risk and removing the emotion from trading decisions. Recognizing a good entry point is the first step in achieving a successful trade.
Entry point is the price at which an investor buys an investment. The entry point is usually a component of a predetermined trading strategy for minimizing investment risk and removing the emotion from trading decisions. Recognizing a good entry point is the first step in achieving a successful trade.
https://www.investopedia.com/terms/e/entry-point.asp
2. Exit strategy -
Quote
An exit strategy may also be executed when an investment or business venture has met its profit objective.
https://www.investopedia.com/terms/e/exitstrategy.asp
So to minimize your risk, you really need to understand those 2 trading concepts. Specially the exit strategy, maybe you can set it as low as 2% or as high as 10%-20%, if they've been satisfied then liquidate and don't look back. You can always re-invest when there is a dip, at least you have exited with a profit instead of being trap and the only way to escape is to suffer a lost.
I can say that I'm involved with Bitcoin for a long time so I have learned my lessons long time before but I can agree with your conclusions because I see them by other users. And I would maybe replace "Fear" with panic, I think it's more appropriate to describe the users behaviour.
Greed is another bad thing and unfortunately I think that it's correct to conclude that many Bitcoin users are driven by greed but that can only lead to fast and wrong decisions that at the end could cause you much harm.
Greed is another bad thing and unfortunately I think that it's correct to conclude that many Bitcoin users are driven by greed but that can only lead to fast and wrong decisions that at the end could cause you much harm.
Your teacher is right, but let me know, is your teacher a bitcoin investor and has he ever suffered a loss? everyone must have their own greedy point. With a note, you must be greedy based on the predictions that you made, even though in the future the price of bitcoin will decline and you cannot sell bitcoin with profit then you will learn the situation many times so as not to happen again.
During the price decline, I have learned a lot now. First, as you say, greedy only makes someone sorry. I have an altcoin, at the first time I bought the total number of altcoins around $ 700 but when the price continued to decline until the current altcoin that I have is only worth $ 47, I think you will know the regrets that I have experienced. However, this did not make me hate and blame myself, because I decided to keep holding until the price recover.
During the price decline, I have learned a lot now. First, as you say, greedy only makes someone sorry. I have an altcoin, at the first time I bought the total number of altcoins around $ 700 but when the price continued to decline until the current altcoin that I have is only worth $ 47, I think you will know the regrets that I have experienced. However, this did not make me hate and blame myself, because I decided to keep holding until the price recover.
the lesson that I got was that we should not be too greedy in taking advantage because when our target is not reached, the loss will await us in front of it.
After a year, a lot of lessons that we did learn. There are 2 precious things that I think I should remember:
+ Fear
+ Greed
I learned that from my teacher, he said when you buy Bitcoin at 10k, it's then $12k your greed rises inside you and you don't want to take profit and expect more. Then, the downtrend is coming, BTC goes down to $8k, you'll be scared to cut loss, and what'll happen, you lose more while BTC drops to $4k.
So, we need to set up your expected profit point as well as the stoploss point.
How about you, what is your lesson?
+ Fear
+ Greed
I learned that from my teacher, he said when you buy Bitcoin at 10k, it's then $12k your greed rises inside you and you don't want to take profit and expect more. Then, the downtrend is coming, BTC goes down to $8k, you'll be scared to cut loss, and what'll happen, you lose more while BTC drops to $4k.
So, we need to set up your expected profit point as well as the stoploss point.
How about you, what is your lesson?
Greed and fear are the moving forces on all markets, not only crypto.
You should have clear rules for entering the market and clear rules for exiting. Without emotion, without greed and fear. You should accept losses and wins in the same way. I know that it sound hard, but once achieving it, then the trading is the real fun.
I learned the importance of buying when there is fear and panic in the markets, hence i am buying now. What i need to learn is when to sell or switch to tether, this is a more difficult lesson
This reminds me the words of Warren Buffet about how when others are greedy you should be scared and when others are scared you should be greedy.
I personally do it to try to transform my life and be able to help like i know i can do but can't right now because of lack of resources. It's not really greed but the eternal drive to improve and help make the world a better place.
I learned that Bitcoin can be light where there is only darkness.
I learned the importance of buying when there is fear and panic in the markets, hence i am buying now. What i need to learn is when to sell or switch to tether, this is a more difficult lesson
Whenever, if you are going to enter in crypto trading business never be Greedy, don't panic, and never allow your emotions control you most of the time when you are making trade in the market, and don't depend or rely your profit in luck, these are the things for sure in the end will lead you into wreck, bear that in your mind.
Great advice and we should always remember that being greedy is not good always. Try to be more dependent on your studies and not on any news, because it can lessen the fear of losing the money since you will know the potential of a coin base on your research. Always keep on learning to improve yourself. 
Honestly, fear and greed are not acceptable in the field of trading. They are the main factors of your loss. On this occasion, it was even said "who wants a lot, will not receive anything, and who wants little will lose what he had." You should always set a boundary target and not take more. Not such a big risk of losing everything.
Fear and greed is something which is quite natural in human being (i am not talking about excess greed). This is something you cannot suppress. Fear will exist in yourself while trading. Trying to get rid of that "fear" is like doing something to yourself. And it is also not that easy to get rid of fear and greed. The best thing to do is trade keeping a target by including fear and greed on the factors that will affect you.
Lots of lesson have been learn in the course of the past one year because the entire market have faced a great challenge and at that it very clear that the market will always remains volatile and what drive the emotions of the people is the news and qeust to maximum profits which in most cases end up with regret.
I learn the same lesson, fear and greed make me lost the opportunity to earn money. I keep on hold the coins even with some bounties coins, and don’t want to sell them for low price, they were good value in the beginning, but then all of them dropped to worthless coins. For a successful trader need definitely good experience and knowledge, we pay our school fee and hope we can learn and improve our skill, do better job next time.
very wise lesson, and this is also my personal experience. too greedy and finally a big loss. already given a goat, but refused, hoping to get an elephant, eventually losing a cow. I will always remember this lesson, thank you for the lesson you gave.
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