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Topic: The three biggest mistakes you should avoid - page 9. (Read 11307 times)

member
Activity: 714
Merit: 10
I agree with you, but I also want to add that it is necessary to buy when the market falls, and to sell when the market grows. In one case it is panic, in the other greed, it is necessary to do exactly as I wrote.
member
Activity: 239
Merit: 17
The biggest mistake to avoid as a trader or investor in cryptocurrencies is to buy a particular coin or token based on FOMO (Fear of missing out) this is because the cryptocurrency market is relatively unpredictable and  by investing based on FOMO  is the first step to getting rekt.
When the market seems to be in a stable state is there best time to get in on coins and not when it is pumping hard because there is often a correction stage after a big pump
sr. member
Activity: 2520
Merit: 280
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Greed and also too much faith in some project. I think whenever it shows bad sign then you should start to sell don't put too much trust in this because it can dissappear so easily so better safe than nothing. Greed is also the main enemy of us whenever greed completely control us then you will loss because you think your brain is the player of market
Right,holding too much longer on some project will make us to be fool so that is why we need to exit that project if we are not able to hold losses from that capital.

For signals it will be better to completely ignore than trusting with backup plans because we knows that this market is not predictable by anyone so why we need to trust them.
full member
Activity: 466
Merit: 100
Bcnex - The Ultimate Blockchain Trading Platform

  • Panic Buy/Panic sell.
    In both cases, you will lose your money
  • Ignore Capital management.  
    If you ignore Capital management you will be gambler not trader
  • Following a signal Without risk assessment or stop loss.
    You will be like Jumping into the ocean without a lifeline jacket at, before do anything, look at your risk and reward and what your stop level is.
    by this way you can set Your Own risk and know what you do.
I strongly agree with the third point, many people (even I once) experienced mistakes by directly trusting the trading signals without careful thinking and without doing research first. So since then I have always tried my best to be careful in accepting recommendations from several trading signals.
full member
Activity: 560
Merit: 105
Greed and also too much faith in some project. I think whenever it shows bad sign then you should start to sell don't put too much trust in this because it can dissappear so easily so better safe than nothing. Greed is also the main enemy of us whenever greed completely control us then you will loss because you think your brain is the player of market
hero member
Activity: 1120
Merit: 554
These are all good pointers and you can add to that HODL'ing as a worthwhile long term strategy just seek out the best value assets with good quality product offerings and the potential for increased demand as their ecosystem grows and be patient


Holding is a newbie thing to do but that doesn't mean its not smart.  Most people lack the knowledge and ability to trade so holding is their best option.  But always set a price to sell ,its not like your going to hold forever.  Sell off in chunks so you can cost average your sell price.
full member
Activity: 720
Merit: 103

  • Panic Buy/Panic sell.
    In both cases, you will lose your money
Yes, this is a very good rule that should not be neglected. It is according to the scheme described by you that beginners act, who have just started their way in trading in general and in crypto in particular.[/list]
legendary
Activity: 2716
Merit: 1017
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  • Panic Buy/Panic sell.
    In both cases, you will lose your money
  • Ignore Capital management.  
    If you ignore Capital management you will be gambler not trader
  • Following a signal Without risk assessment or stop loss.
    You will be like Jumping into the ocean without a lifeline jacket at, before do anything, look at your risk and reward and what your stop level is.
    by this way you can set Your Own risk and know what you do.
They will not do that only because they have to. It was a common mistake traders made but it was right to think before making that decision so as not to regret it.
member
Activity: 476
Merit: 10
Of these theses, the first is the most important (Panic Buy/Panic sell). Any market is always subject to panic and the cryptocurrency market is no exception. That's human nature.
copper member
Activity: 462
Merit: 1
Brilliant summary. Risk management is very important and another thing is to learn how to make personally research on a project before jumping in it, so as to minimize running into lose
full member
Activity: 700
Merit: 100
I agree with this and is the basic capital in starting something I want to do, I don't need to rush to start something. enjoy the process it will produce satisfying results.
jr. member
Activity: 256
Merit: 2

  • Panic Buy/Panic sell.
    In both cases, you will lose your money
  • Ignore Capital management.  
    If you ignore Capital management you will be gambler not trader
  • Following a signal Without risk assessment or stop loss.
    You will be like Jumping into the ocean without a lifeline jacket at, before do anything, look at your risk and reward and what your stop level is.
    by this way you can set Your Own risk and know what you do.

Thanks for the abstracts from you!

I did this method 2 years ago and it was very helpful.

New participants please note the above.
full member
Activity: 602
Merit: 101
Bcnex - The Ultimate Blockchain Trading Platform
I can list these mistake like below,

1.panic sell
2.panic sell
3.panic sell

You should never do a panic sell.(unless there is a story behind it, scam accusations etc.)
hero member
Activity: 1190
Merit: 541
panic sell usually occurs because the project does not have good news, the team works slowly so that investors have doubts about the project, because most investors don't have much patience
Sometimes, panic sell in inevitable in some cases like you described here, but that is why an investors must strive hard to ensure that any project being considered for investment would not cause him to be a victim of panic sell in future.

Most of these panic sell advise is usually more useful to people that have investment in reliable coins like Bitcoin and maybe top 10 coins, because those ones will always have a positive future and no matter the little challenge we encountered along the line during our trade with them, we should know that things will always be corrected, so it is not worth having panic sell over those top coins, we will end up losing if we do.
sr. member
Activity: 1092
Merit: 269
I think you sum up an investment philosophy. We need to constantly sum up the gains and losses in trading. We need to develop our own investment theory and habits. Let's minimize our mistakes in trading and investing.


yes, what you say is true in your opinion and maybe in my opinion the mistakes we have made have made us more careful in investing in the crypto currency, the belief is the best capital
sr. member
Activity: 742
Merit: 250
The market is again repeating in 2017, the BTC pump makes altcoin dump and then BTC dump makes altcoin dump. But doing so will make big investors more profitable when altcoin is at a low price. Don't repeat the mistake before
member
Activity: 298
Merit: 10
I think you sum up an investment philosophy. We need to constantly sum up the gains and losses in trading. We need to develop our own investment theory and habits. Let's minimize our mistakes in trading and investing.

sr. member
Activity: 994
Merit: 391

  • Panic Buy/Panic sell.
    In both cases, you will lose your money
  • Ignore Capital management.  
    If you ignore Capital management you will be gambler not trader
  • Following a signal Without risk assessment or stop loss.
    You will be like Jumping into the ocean without a lifeline jacket at, before do anything, look at your risk and reward and what your stop level is.
    by this way you can set Your Own risk and know what you do.

-Quality of the project
-The direction of the trend and your position (long or short)
-Target point or take profit zone
-BTC trend and situation
-Patience
-Never give up
legendary
Activity: 3024
Merit: 1132
Leading Crypto Sports Betting & Casino Platform

  • Panic Buy/Panic sell.
    In both cases, you will lose your money
  • Ignore Capital management.  
    If you ignore Capital management you will be gambler not trader
  • Following a signal Without risk assessment or stop loss.
    You will be like Jumping into the ocean without a lifeline jacket at, before do anything, look at your risk and reward and what your stop level is.
    by this way you can set Your Own risk and know what you do.

Excellent summary, i endorse what's stated here. Always act with careful planning, caution and risk-management.
I partially do not agree with your number one point, because it is not going to be every time that such action will go against us, there have been some cases where people panic buy or sell, and they were grateful for doing so. In the aspect of panic buy, I can agree that it has only favored 30 percent of trader out of luck, because I could remember recently when Bitcoin wanted to start rising from $9k, I had expected further decline, but when I saw the signals, it was out of panic buy that I bought, and right now I didn’t regret my action.

You see panic sell, I would not totally disregards it, especially in this market that IS being manipulated, there are so many coins that if you don’t quickly take action to sell, you may end up regretting for life, which is why we have to be very sure of project we want to invest in before putting any large fund.
member
Activity: 476
Merit: 14
Bcnex - The Ultimate Blockchain Trading Platform

  • Panic Buy/Panic sell.
    In both cases, you will lose your money
  • Ignore Capital management.  
    If you ignore Capital management you will be gambler not trader
  • Following a signal Without risk assessment or stop loss.
    You will be like Jumping into the ocean without a lifeline jacket at, before do anything, look at your risk and reward and what your stop level is.
    by this way you can set Your Own risk and know what you do.

"Panic Buy" seems right at right now because everyone all think Bitcoin's price will continue to raise up and may gain 100k, so many people are buying Bitcoin , but everthing is not easy like this, I think there will be a big adjustment of market in few upcoming days
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