LESSONS FROM CRYPTO MARKET - page 2.

virasisog

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Quote from: thinhthai on January 22, 2019, 03:37:41 AM

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?

It is both true when it pumps greediness arises, when it dumps fear makes you panic.The lesson i learned specially from 2017 and 2018 ,we have to understand the market flow.
If it pump it will not always be like that so decide when and set sell. And when there is blood in the market take the chance to store up because every dump there is a pump. Do a research buy the good ones and be patient.

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Quote from: JC btc on October 23, 2019, 11:35:56 AM

Quote from: ringgo96 on October 23, 2019, 07:13:30 AM

Quote from: FlamingFingers on October 21, 2019, 02:31:08 AM

One of the best lesson I learned from crypto market was to wait for the best opportunity before joining a trade, never rush over a trade that has left already also I learned that it's best to trade against countless other trade, always take profits no matter the little amount of the profit made

In trading it is patience. mentally and emotionally will be a big challenge for traders. they must be able to control themselves to be even better. certainly do not want to get a big loss from their trade or when taking long positions. they must be calm and control their ambitions when it comes to this. I lost several times due to lust and greed

Indeed, trading is not something that we will join when we want, or we will trade whenever we want, it requires perfect timing, right decision making, right market, we should not be in a hurry at all, we should always learn all things first, have an experience before we give our all in. Patience is what we needed most on it.

Patience allows us to buy common and sell dear.

JC btc

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Quote from: ringgo96 on October 23, 2019, 07:13:30 AM

Quote from: FlamingFingers on October 21, 2019, 02:31:08 AM

One of the best lesson I learned from crypto market was to wait for the best opportunity before joining a trade, never rush over a trade that has left already also I learned that it's best to trade against countless other trade, always take profits no matter the little amount of the profit made

In trading it is patience. mentally and emotionally will be a big challenge for traders. they must be able to control themselves to be even better. certainly do not want to get a big loss from their trade or when taking long positions. they must be calm and control their ambitions when it comes to this. I lost several times due to lust and greed

Indeed, trading is not something that we will join when we want, or we will trade whenever we want, it requires perfect timing, right decision making, right market, we should not be in a hurry at all, we should always learn all things first, have an experience before we give our all in. Patience is what we needed most on it.

desticy

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Under your statement, you can draw a line and write one word "experience".
Due to the lack of experience in such a young market as a cryptocurrency, we understand our mistakes post factum, we only recognize them after a lapse of time.
More than once I came across the mistake of greed, buying a coin in the midst of its growth and then losing everything, fearing to fix the losses due to my greed and fear.
Thus, for one price pump, I fell into the trap of greed and the trap of fear. Fear of loss. All this for one simple reason - lack of knowledge.

ringgo96

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Quote from: FlamingFingers on October 21, 2019, 02:31:08 AM

One of the best lesson I learned from crypto market was to wait for the best opportunity before joining a trade, never rush over a trade that has left already also I learned that it's best to trade against countless other trade, always take profits no matter the little amount of the profit made

In trading it is patience. mentally and emotionally will be a big challenge for traders. they must be able to control themselves to be even better. certainly do not want to get a big loss from their trade or when taking long positions. they must be calm and control their ambitions when it comes to this. I lost several times due to lust and greed

Webetcoins

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Quote from: FlamingFingers on October 21, 2019, 02:31:08 AM

One of the best lesson I learned from crypto market was to wait for the best opportunity before joining a trade, never rush over a trade that has left already also I learned that it's best to trade against countless other trade, always take profits no matter the little amount of the profit made

Being patient and profit taking is very essential in trading. It is also important for a trader to have a plan to follow because if you will just go with the flow of the market that you will take profit what the market offers to you then that is not a good trading experience because you do not have a clear stats to follow. Make sure that you set rules for yourself to maintain consistency and also to avoid unnecessary mistakes.

Impatience brings loss. There is no point of hurrying when you understand that you do not have the sufficient skills and required tools for success. It is much better to learn first so that the journey will be a safe one. As is is said, victory loves preparation. I am happy to hear that you learn a good lesson from digital world. Trading demands calm mind and a lot of trust. Moreover, even small earning are earnings.

Fredomago

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Quote from: FlamingFingers on October 21, 2019, 02:31:08 AM

One of the best lesson I learned from crypto market was to wait for the best opportunity before joining a trade, never rush over a trade that has left already also I learned that it's best to trade against countless other trade, always take profits no matter the little amount of the profit made

If you have given such opportunities, it's better to grab those profits even in a smallest part of it than to wait and be stuck. Greed needs to be
controlled especially with this types of volatility where you can't assure what will be the next market movements.

Be wise enough to judge the condition or situations, find your best position from both long and short term intervals.

asus09

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Quote from: ?? on ??

Quote from: FlamingFingers on October 21, 2019, 02:31:08 AM

One of the best lesson I learned from crypto market was to wait for the best opportunity before joining a trade, never rush over a trade that has left already also I learned that it's best to trade against countless other trade, always take profits no matter the little amount of the profit made

Being patient and profit taking is very essential in trading. It is also important for a trader to have a plan to follow because if you will just go with the flow of the market that you will take profit what the market offers to you then that is not a good trading experience because you do not have a clear stats to follow. Make sure that you set rules for yourself to maintain consistency and also to avoid unnecessary mistakes.

Not only that, we should also don't take for granted those profit that we are earning, always make sure that we should use the profit in right way, like investing again in some other coins, or adding to our capital, also saving some of it for the future, or to have our own business someday, don't just take profit and spend it in things we don't need much, let us always use in right way.

Experience is the best teacher where teach us with many moment, with bitcoin or crypto market we got many sad and happiness experience when we sell or buy altcoin, price always up after we sell altcoin and price always dump after we buy altcoin, give us lesson to get patience with bitcoin and altcoin market before investing, many time we do not check best time when have to buy or sell.

agentx44

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Quote from: thinhthai on January 22, 2019, 03:37:41 AM

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?

I've learned the same thing. That is one of the worst mistake that we can commit due to greed and fear. We keep on expecting that the value of bitcoin will keep on rising but what will happen is the opposite of what we have been expecting which leads us to fear as we try hard to cut our loss to avoid further waste of time. We need to be more wise in our decisions here in crypto if we really want to benefit from it. We cannot expect always that things would go according to our favor so we should always think about the future and stop thinking about greed.

FlamingFingers

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One of the best lesson I learned from crypto market was to wait for the best opportunity before joining a trade, never rush over a trade that has left already also I learned that it's best to trade against countless other trade, always take profits no matter the little amount of the profit made

cotton ball

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Quote from: Colt81 on October 20, 2019, 10:55:41 PM

Quote from: thinhthai on January 22, 2019, 03:37:41 AM

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?

Patience is the first thing that i learned in crypto market for me not to have huge losses. In cryptocurrency, here i always learned from my mistakes that i should know how to control my emotions when it comes making decision in trading and investing my money in crypto because i always experienced losses which is normal, but we still need to learn how to minimize our losses for us to earn bigger profit.

Many people invested with bitcoin to get much money with instant or fast way, they only know whit investing on bitcoin just one day they will get much profit, they not have patience when bitcoin down and when bitcoin up, almost investment kind we need patience how to control and get profit with long term and price of bitcoin or altcoin we can't prediction.

Colt81

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Quote from: thinhthai on January 22, 2019, 03:37:41 AM

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?

Patience is the first thing that i learned in crypto market for me not to have huge losses. In cryptocurrency, here i always learned from my mistakes that i should know how to control my emotions when it comes making decision in trading and investing my money in crypto because i always experienced losses which is normal, but we still need to learn how to minimize our losses for us to earn bigger profit.

supercanada1

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Quote from: meliodas on October 19, 2019, 02:09:18 AM

Quote from: reality18 on October 19, 2019, 12:01:25 AM

One of the major and important lessons every trader, investor, project developer etc must learn in crypto is the essence of exercising patience. Things take time to happen in crypto and that is why projects have road maps which shows the series of developments the project will go through before reaching the full potentials. Hence, only investors who are patient enough to wait enjoy the full benefits of good projects.

Having patience is really important in all aspect of our life but you should not forget about the emotions. Emotions are also playing a big role in terms of decision making. Even though you have patience but you can't control your emotion then you will not get the best from something. Be patient and as well as control your emotion so whatever kind of problem comes then you can face and overcome it without any problem.

In that case, a person need to practice his patience. After all, patience means not losing your senses due to emotional stuff. A person must train his brain to stay calm under all situations. However, if someone with nothing is whining does not really matter as compare to that who owns assets like bitcoin and does blunders. He cannot afford loss out of some emotional decisions.

TRONTON

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there is nothing specific besides understanding the graph on bitcoin, always comparing running time with the history of the previous chart. at least the trader is obliged not to miss new things so that fear and greed will disappear.

as now, many speculators have begun to try to measure how deep the lowest prices are in this month/year. so we know in what price range we can determine profit and open positions.

the same thing happens to altcoin, only tends to be riskier 2x because it follows btc.

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Quote from: thinhthai on January 22, 2019, 03:37:41 AM

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?

that is human nature, when they have the opportunity to get the most results they still want to get more and more results. in my opinion the most appropriate is not to expect too great results but to waste a few results, and in the end do not get anything. In my opinion trading is thinking about how we get profit. when I feel I have made a profit, I will sell it even though the profit is only a little. but I buy again when I think prices go down and resell when prices go up. always study the science of trade analysis so that speculation is as expected.

meliodas

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Quote from: reality18 on October 19, 2019, 12:01:25 AM

One of the major and important lessons every trader, investor, project developer etc must learn in crypto is the essence of exercising patience. Things take time to happen in crypto and that is why projects have road maps which shows the series of developments the project will go through before reaching the full potentials. Hence, only investors who are patient enough to wait enjoy the full benefits of good projects.

Having patience is really important in all aspect of our life but you should not forget about the emotions. Emotions are also playing a big role in terms of decision making. Even though you have patience but you can't control your emotion then you will not get the best from something. Be patient and as well as control your emotion so whatever kind of problem comes then you can face and overcome it without any problem.

reality18

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One of the major and important lessons every trader, investor, project developer etc must learn in crypto is the essence of exercising patience. Things take time to happen in crypto and that is why projects have road maps which shows the series of developments the project will go through before reaching the full potentials. Hence, only investors who are patient enough to wait enjoy the full benefits of good projects.

randegibran

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Quote from: mu_enrico on January 22, 2019, 04:41:16 AM

I feel sorry for beginners who came to the trading space directly to cryptocurrency market. I have learned my lesson for years in a stock market and still shocked about cryptocurrency price movements. In 2018, I learned a lot about blockchain technical stuff rather than technical analysis.

My advice to the young lads is to study macroeconomics and financial management before they invest a dime in any market.

Financial management have learn more before investing in crypto, we can't get correct prediction with bitcoin or altcoin become higher price, just take safety when get profit withdraw or save in your bitcoin wallet as your investment, never all in your money with crypto.

Tungsten-1

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Quote from: Natalim on October 16, 2019, 03:56:55 AM

Quote from: gaston castano on October 16, 2019, 03:25:33 AM

the thought that must be applied from the beginning, what goes up won't always go up it will definitely go down, and the opposite.
you only have to adjust the right time, make the target so as not to be swayed, indeed we must go with the flow, but if you take too long to be washed away, that is why you have to make a target when you will rise to the surface after a long dive.

Stay realistic all the time, allow your mind to control your emotion and not the other way around.

Based on my personal experience, I did a lot of mistakes in the past since I got greedy thinking BTC will continue to moon, one good example was what happen last year 2017 when btc had its ATH, I thought when BTC reaches to $19k, it will still go uptrend, but I was wrong, I was even hesitant to sell when I see it going dump abruptly because I trust BTC so hard without realizing correction should happen anytime.

Hopefully for newbies, they will continue to study and learn from the mistakes of others so it will not cost them money.

This is a fundamental principle of nature that whatsoever is once shining so hard and ruling the world at least for some time faces downfall and that is very normal. This happens so that one does not become arrogant or think of himself as god. As far as crypto market is concerned, same happens with digital currencies here. They keep on shifting from high to low and vice versa.

jamesndungu1

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As a crypto enthusiast and trader, what I would encourage newbies out there to do is first and foremost get a full understanding of what cryptocurrencies are, do your research and grasp the basic concept of cryptos. Secondly, it is important to look beyond the PR and marketing hype and resist investing in a certain coin just because it is creating a buzz on various platforms; remember, the crypto market is very unpredictable. Finally, it is important always to remember that despite the hype about the crypto market, it is still very young and at its early stage, which means that investing in the crypto market is pretty much like taking a bet. You are not assured of great returns on your very first investment; it might take time.

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