Mistakes in trading that lead to loss of money - page 16.

mobnepal

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Quote from: RussiaIsBest on January 27, 2017, 09:07:32 PM

I would earn a lot in this 3-4 days with altcoins,all my predicitons about altcoin prices where correct.

I really doubt on this one. Grin

One of the major reason for anyone to make losses (big one) in trading is being panic when price is pumping and buy at peak price, and same when it is dumping, selling at low price.

Don't put all your eggs in one basket.

deisik

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Quote from: topesis on January 28, 2017, 09:55:56 AM

My biggest mistake is chasing my loss, when Synereo price stated dropping immediately after their ICO, I thought this insane, how could token sold at 33ksat be price 26ksat so I started buying the more as the price dump. It was a dump decision, I will never made again.

This is one of the most common mistakes that novice traders do

But sometimes even experienced traders fall for that error too. This is aptly called "catching falling knives". Such traders instead of closing their losing positions and cutting their losses short start adding to them thinking the price will soon revert and they will offset the losses. Sometimes it does actually revert, but ultimately such an approach leads to heavy losses in the end because these traders start believing that they know better how the price should behave, and the market eventually punishes them badly and wildly

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Quote from: topesis on January 28, 2017, 09:55:56 AM

My biggest mistake is chasing my loss, when Synereo price stated dropping immediately after their ICO, I thought this insane, how could token sold at 33ksat be price 26ksat so I started buying the more as the price dump. It was a dump decision, I will never made again.

These scenario do really happens because in our investment specially on ICO we do really hope and strongly believe that this coin has the potential to rise its price thats why when we saw that the price dumps then we would really tell ourselves that this is the best time to buy even more but sadly that dump was the reason for all your losses.

topesis

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My biggest mistake is chasing my loss, when Synereo price stated dropping immediately after their ICO, I thought this insane, how could token sold at 33ksat be price 26ksat so I started buying the more as the price dump. It was a dump decision, I will never made again.

olubams

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In my won little foray into trading since I am fairly new, I lay my hands on some coins and it started showing signs of prospects by increasing and increasing thinking it will continue like that. My mistake was not knowing the right time to pull out and not following enough to determine the extent of loss I can take. This made me lose a ton amount of money but its a lesson that one should not be greedy and be ready to take decisive actions irrespective of what will happen afterwards...

onrise

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One simple rule to avoid loss in trading which is in your hand is : -

If you buy btc and see price is rising you tend to hold btc in view of price to rise further and suddenly price slump and you end up with less profit or wait for another price rise. Always have target if it reaches that level you will sell it.

RussiaIsBest

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My mystake is that invested all money in other things and now I dont have money for trade with altcoins but I would earn a lot in this 3-4 days with altcoins,all my predicitons about altcoin prices where correct.

dearbesz1219

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Quote from: HmmMAA on October 04, 2016, 01:56:58 PM

My main problem so far was greed . In some cases ( like NAUT ) i trippled my money and yet didn't sell untill small profit . So far i'm doing great , have trippled my bankroll in some months . If i can solve the greed problem though my graph will skyrocket .

Indeed, most of the gamblers became greedy, for hoping that they will become rich instantly, until they didn't notice their character became addicted to the games in gambling. which leads them to loss of big amount of money.

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Quote from: clickerz on January 27, 2017, 05:47:58 AM

Quote from: The_prodigy on January 26, 2017, 06:54:50 PM

My most mistake is buying the wrong coin that it will be scammed sooni just tried but that tried was really bad i wasn't specting that i almost lost around 2 bitcoin from me it from my earning for 5 months lmao

That is too much losses. My mistake sometimes is that I set order and forgot it. When my BUY ORDER is filled, and check it next day the coins price is very low or being dump already and its hard to recover. It is better to active and updated always when you trade.

To prevent that stuff, better to trade only with two pairs or one pair. This will allow you to focus more on your coin to be trade. If you can't tend to trade, avoid those coins whose new, otherwise you'll end up with dump, giving you a negative profit that is painful. If you were new in trading, trade inly with trusted coin like ETH, DOGE, LTC, etc. These coins have liitle amount of buy and sell order pairs, yet will grant you not to be scammed or end up with huge dump.

clickerz

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Quote from: The_prodigy on January 26, 2017, 06:54:50 PM

My most mistake is buying the wrong coin that it will be scammed sooni just tried but that tried was really bad i wasn't specting that i almost lost around 2 bitcoin from me it from my earning for 5 months lmao

That is too much losses. My mistake sometimes is that I set order and forgot it. When my BUY ORDER is filled, and check it next day the coins price is very low or being dump already and its hard to recover. It is better to active and updated always when you trade.

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Quote from: icecube45 on January 27, 2017, 05:03:52 AM

Quote from: The_prodigy on January 26, 2017, 06:54:50 PM

My most mistake is buying the wrong coin that it will be scammed sooni just tried but that tried was really bad i wasn't specting that i almost lost around 2 bitcoin from me it from my earning for 5 months lmao

Wow it was a grave mistake I think. Supposed if you just want to try is better in minimal amounts and did not much like that, because it would be too risky for loss. I've also ever do the same as you, but not much like that because I only spend the amount to much like that was for coin that really can a profitable. Maybe my suggestion to be more careful again and make it a lesson, friend Wink

that must be a pain in the ass, though that's one of many risks when you're going to invest into altcoin, hardfork may happen and even worse the coin turn out scamming its investors
if you really want a safe investment then go for trusted altcoin which was existed since many time, not the newest one, but if you still want to invest into the newest then just watch the profile of developers

icecube45

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Quote from: The_prodigy on January 26, 2017, 06:54:50 PM

My most mistake is buying the wrong coin that it will be scammed sooni just tried but that tried was really bad i wasn't specting that i almost lost around 2 bitcoin from me it from my earning for 5 months lmao

Wow it was a grave mistake I think. Supposed if you just want to try is better in minimal amounts and did not much like that, because it would be too risky for loss. I've also ever do the same as you, but not much like that because I only spend the amount to much like that was for coin that really can a profitable. Maybe my suggestion to be more careful again and make it a lesson, friend Wink

The_prodigy

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My most mistake is buying the wrong coin that it will be scammed sooni just tried but that tried was really bad i wasn't specting that i almost lost around 2 bitcoin from me it from my earning for 5 months lmao

Malsetid

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Quote from: marcuslong on January 26, 2017, 04:54:38 AM

Quote from: Wandering Soul~ on October 04, 2016, 12:26:28 PM

Your mistake/s in trading that leads to loss of money
I think it will be the best to share your story so that we can avoid your past mistakes.

My mistake in trading was buying ethereum lots of ethereum and then sell them with 0.002 bitcoin each i tought i was put 0.2 but then i was shocked thought my account was hacked but when i saw the hostory i laughed hard damed

Yeah I think this is one of the most common mistakes when it comes to trading. I've had several of these as well though fortunately the amount that I lost is only minimal. It's really important to make sure first the amount you're going to be selling it and to make sure you enter it correctly.

Reid

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I have one mistake that made me better. It was with XMR. It is not really a full mistake, more like a greedy move or the doubtful guy back then. I thouhht that was the price I am comfortable with so I withdrew then it grows more. Thinking it will go up again i bought a lot of it. Then BAM! It goes down like hell. My heart melted but it was a good lesson to be learned.

tifossi

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Quote from: Pursuer on January 26, 2017, 04:26:07 AM

Quote from: tifossi on January 26, 2017, 01:56:04 AM

Im using coindata.io for trading since a while and my biggest mistake is to find the right point to sell.
Now I try to trade with 5% profit and this works well at the moment. Sometimes I sell to fast and the profit is very slow but no one knows the best point to sell the altcoins. I'm learning from day to day

can you tell me why you are using that tool and what do you find useful about it?
first of all it is not free, and it is just reporting the data from exchanges, something that we can do ourselves while analyzing the charts and changing the intervals on them. and the volume is what already available on the exchange site.
I'd say the price of the service is already too high!

First of all: it's not my service. If you're an expert in trading you didn't need this tool. Maybe or maybe not, don't know. I'm new with trading and for me it's worth the money because I make profit. This tool gives an buy signal if an Altcoin gets pumped so you can buy (mostly) blindly. The point is to find the right point to sell them. You can check the twitter account. For every result tweet there was a buy tweet (direct message) to buy it.
For me it's helpful but maybe not for people who are experts in trading.

noictib

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Quote from: marcuslong on January 26, 2017, 04:54:38 AM

Quote from: Wandering Soul~ on October 04, 2016, 12:26:28 PM

Your mistake/s in trading that leads to loss of money
I think it will be the best to share your story so that we can avoid your past mistakes.

My mistake in trading was buying ethereum lots of ethereum and then sell them with 0.002 bitcoin each i tought i was put 0.2 but then i was shocked thought my account was hacked but when i saw the hostory i laughed hard damed

You mean , it was just of your misunderstanding to put your price to sell your ETH .
Well Herr I had never made mistake such like . But my mistake in trading was big than you .If you will comes to know my mistake than I think everyone who are newbie will not loss their money or bitcoin trading .
Actually I bought about 50k coins of BLRY and then sudden increase in the price to about 130% . In this way I got much profit but after this I tried to make profit with other altcoin then I bought a unknown/not much famouse coin .
But after 2-3 days I found no one bought my altcoin order , Then suddenly I sold at the current price and got loss and again I rrapeated the same mistake to buy another altcoin in thus way list my all bitcoin .

marcuslong

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Quote from: Wandering Soul~ on October 04, 2016, 12:26:28 PM

Your mistake/s in trading that leads to loss of money
I think it will be the best to share your story so that we can avoid your past mistakes.

My mistake in trading was buying ethereum lots of ethereum and then sell them with 0.002 bitcoin each i tought i was put 0.2 but then i was shocked thought my account was hacked but when i saw the hostory i laughed hard damed

Pursuer

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Quote from: tifossi on January 26, 2017, 01:56:04 AM

Im using coindata.io for trading since a while and my biggest mistake is to find the right point to sell.
Now I try to trade with 5% profit and this works well at the moment. Sometimes I sell to fast and the profit is very slow but no one knows the best point to sell the altcoins. I'm learning from day to day

can you tell me why you are using that tool and what do you find useful about it?
first of all it is not free, and it is just reporting the data from exchanges, something that we can do ourselves while analyzing the charts and changing the intervals on them. and the volume is what already available on the exchange site.
I'd say the price of the service is already too high!

Supercrypt

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Quote from: Text on January 26, 2017, 12:11:57 AM

If your mistakes will continue you will really lose your money so to avoid it, you need to practice first. It is very natural that sometimes failure comes to us but we are capable to be successful in the end. Trading is not a game because there is involve of money.

Yes, mistakes while trading is not an unusual thing. But repeating same mistakes and ignoring to learn from mistakes will lead unusual losses certainly. When traders are getting practices to avoid same mistakes in future, then the chances for losses will be less. To flourish in trading, we must keep on learning new things always.

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