Mistakes in trading that lead to loss of money - page 21.

rickadone

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Quote from: clickerz on November 05, 2016, 11:14:36 AM

One of my mistakes before as a newbie as far I can remember is listening to suggestions on troll box. I bought the coins suggested not knowing that is already dumping. I lost more than 90% of the value of the coin. After waiting for several weeks for the price to increased,nothing happens. I sold the coins on big losses. It is a lesson I can not forget in trading.

It happens, but the best way is to hear from all but do what your mind says.

I cannot imagine buying a coin only because it was suggested by others while the chart of the coin was a total disaster. I always do check the chart and the dev and supporting team behind the coin before investing anything into an altcoin.

el kaka22

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Quote from: katrimans on November 05, 2016, 12:47:14 PM

Quote from: outatime1 on November 03, 2016, 10:05:24 PM

Another mistake is panic buying and panic selling. It's better to set up sell orders and buy orders based on a plan rather than just selling and buying on emotion.

It is very normal to panic when the price gets down, because we don't know much about the coin. We just bought it from ICO and then we are waiting for the price to rise, while we are supporting the coin .. we cannot really risk all the money by not selling when we see the price dropping.

Yeah but why you supported a coin when you did not had faith in your decision ?

I often panic myself too but the best way to overcome that panic is keep in touch with the group of investors, like there is always a skype group for each coin where they talk about the ups and downs of the coins and hence when you discuss with the fellow investors you often calm down.

But that also sometimes have a negative effect as you become over confident.

xIIImaL

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Quote from: virtualkeybuyer on December 28, 2016, 09:05:04 AM

I also made a big mistake in the time when I was starting the trade. In one of the post on this forum I saw someone recommending to buy cheap coins to take the start so I searched for the coins and found a coin at 1 satoshi and bought with a good amount of bitcoins and waited for longer but not increased then after a search about the coin I fund that the coin is died some months ago.

Not only in trading if it is any kind of investment also we could see the lose when we making mistakes on that. However in trading we do any kind of trade with escrow to have a safe trade.

noictib

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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.

Yes , I made one big mistakes in trading.
My mistake was to made buy a altcoin and after one hour I thought that I need to buy another than this one altcoin , this descion turned my Bitcoin into half of the initial investment .
So here I will suggest everyone they should think throughly before buy of any altcoin .

Gameroid

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Quote from: Yuuto on December 27, 2016, 05:42:38 PM

If you are up a lot, then cash out.

The worst mistake you can make especially with altcoin trading is to baghold a coin for years on end, in my opinion. That is ridiculously dumb because altcoins all die out, new altcoins come out every day that have better specs then before. None of them however have an established reputation as a functioning cryptocurrency, something that in my opinion only bitcoin has.

to me the worst mistake in trading can be that if you invest your bitcoin in such coin about which you have no knowledge at all. because investing in altcoin without a sound knowledge is nothing but wasting your money and time.

trigger1975

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Quote from: Zadicar on December 28, 2016, 08:30:30 AM

Common mistakes in trading is mostly on newbies on which they jump in into trading without any proper knowledge because we all know that most people are saying that trading is the best investments and could able to make decent money thats why they decide to trade without knowing the important things and they just easily blown up their account or bank roll.

I guess, I've made every mistake in trading one can make. Jump in on high prices, panic sell, panic buy, holding too long while hoping the price comes back up and then having a huge loss.

Literally everything. Just ask me.

//alex

virtualkeybuyer

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I also made a big mistake in the time when I was starting the trade. In one of the post on this forum I saw someone recommending to buy cheap coins to take the start so I searched for the coins and found a coin at 1 satoshi and bought with a good amount of bitcoins and waited for longer but not increased then after a search about the coin I fund that the coin is died some months ago.

rizkyhiw

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Quote from: Yuuto on December 27, 2016, 05:42:38 PM

If you are up a lot, then cash out.

The worst mistake you can make especially with altcoin trading is to baghold a coin for years on end, in my opinion. That is ridiculously dumb because altcoins all die out, new altcoins come out every day that have better specs then before. None of them however have an established reputation as a functioning cryptocurrency, something that in my opinion only bitcoin has.

that's true, simple principle you have to keep on your mind
never trade altcoin for long term , nothing good play with them in the long time period
don't be greedy once you given a nice profit, just take it even a little bit only
and i guess the ony mistake that always did by every trader is to become greed, instead having a consistent profit.

Zadicar

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Quote from: Sled on December 28, 2016, 08:51:20 AM

Quote from: Zadicar on December 28, 2016, 08:30:30 AM

Common mistakes in trading is mostly on newbies on which they jump in into trading without any proper knowledge because we all know that most people are saying that trading is the best investments and could able to make decent money thats why they decide to trade without knowing the important things and they just easily blown up their account or bank roll.

Agree.. That is one of the most common mistake of a newbie is taking the risk without understanding how the game works.
Most of them are just victim of hype because they saw that someone earn a lot from trading so they will try also.
The lesson for that common mistake is like the saying "think before you click" because somehow if you didn't know what are you trying then there would be a high risk of getting loss or encountering different bad situations that may cause of stress.

I could really say this thing because im one of those newbies who tend to jump directly without thinking first and i really experience to wipe out my money because of making such bad decisions in trading thats why i do realize in the end that its not really an easy thing to learn trading and you would really need time and experience to be profitable with it and even those professional traders do still experience losses because trading is unpredictable.

Sled

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Quote from: Zadicar on December 28, 2016, 08:30:30 AM

Common mistakes in trading is mostly on newbies on which they jump in into trading without any proper knowledge because we all know that most people are saying that trading is the best investments and could able to make decent money thats why they decide to trade without knowing the important things and they just easily blown up their account or bank roll.

Agree.. That is one of the most common mistake of a newbie is taking the risk without understanding how the game works.
Most of them are just victim of hype because they saw that someone earn a lot from trading so they will try also.
The lesson for that common mistake is like the saying "think before you click" because somehow if you didn't know what are you trying then there would be a high risk of getting loss or encountering different bad situations that may cause of stress.

Zadicar

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Common mistakes in trading is mostly on newbies on which they jump in into trading without any proper knowledge because we all know that most people are saying that trading is the best investments and could able to make decent money thats why they decide to trade without knowing the important things and they just easily blown up their account or bank roll.

Yuuto

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If you are up a lot, then cash out.

The worst mistake you can make especially with altcoin trading is to baghold a coin for years on end, in my opinion. That is ridiculously dumb because altcoins all die out, new altcoins come out every day that have better specs then before. None of them however have an established reputation as a functioning cryptocurrency, something that in my opinion only bitcoin has.

ubitcoin

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Quote from: choppork on November 05, 2016, 10:43:27 AM

One mistake that I had was when I listened to the people around me. I asked for advice and opinion, I didn't trust myself. I told myself that the people in trading sites are much more experienced than me and I should trust their skills. These people are not trustworthy and they are just promoting the coin that they invested into. You should also be aware of the fact that you can't always do short trading. It's mostly long trading that happens.

You are right I too when was new I used to be very active in the poloniex chat and ask people which coin would be good for investing. Most of the people used to suggest coins which they had invested into, even the pink username guys now a days give wrong advice Sad

(pink username means trust at poloniex )

DApptothefuture

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When you're up big make sure to protect your profits instead of re-leveraging everything to make more.

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wuvdoll

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Quote from: arwin100 on November 05, 2016, 09:12:36 AM

Quote from: CasioK on November 05, 2016, 08:24:53 AM

Quote from: outatime1 on November 03, 2016, 10:03:05 PM

If you buy all in and then the price keeps dropping, you will lose a lot of money. I buy in stages so I'm not all in at one time. Same idea for selling because if the price keeps rising, you want to be able to keep selling.

What I do is, I buy altcoins for around 25% of value that I want to risk with that coin, then I wait for the price to rise, if it rises i sell 50% of coins and than wait. If price gets even higher I sell all, if it gets low then I buy 50% more and so on, this way I hardly get any loss.

What 25% do you mean? It is the price breakdown? Well if you really mean that i can say you can earn for that since 25% is huge and it will merely followed by a pump if you trade those high potential coins and big coins, and also don't just directly buy if the coin is on that stage just better do some research so you will not fall those scam coins who's starting to die and will not recover.

He meant 25% of his total bankroll or the amount which he intend to risk. Yeah but that strategy can be risky if he chooses some wrong coins twice or thrice in a row. Moreover I think the biggest mistakes any trader initially do is that they worry to soon or they get excited too quick, where they hold or sell all their coins at a wrong value.

coinplus

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Quote from: CasioK on November 05, 2016, 08:24:53 AM

Quote from: outatime1 on November 03, 2016, 10:03:05 PM

If you buy all in and then the price keeps dropping, you will lose a lot of money. I buy in stages so I'm not all in at one time. Same idea for selling because if the price keeps rising, you want to be able to keep selling.

What I do is, I buy altcoins for around 25% of value that I want to risk with that coin, then I wait for the price to rise, if it rises i sell 50% of coins and than wait. If price gets even higher I sell all, if it gets low then I buy 50% more and so on, this way I hardly get any loss.

Excellent strategy and one for me too. The only problem I think would be there is that some coins never live up to our expectations like I bought some ICB coins and now I am quite a bit seeing it as a scam operation, though I wish the opposite.

Anyways thanks a lot man, please do post more strategies and do you have any idea how we can cope up with the losses given initially when buying a coin ?

icecube45

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I've made several mistake in the trade. At first start trading I do not set stop loss. So even though the market is not profitable, I still hold because I still hope that the price will go up. But it is actually not true, because a trader must set a stop loss to limit losses. Every trade I sometimes can not control my emotions, so that made a mistake that is very detrimental. Now I also learning about money management in trading, it is very difficult to me.

machinek20

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The one thing that make me loss in trading is because i trade an ico coin without an analysis, i simply bought it because it because the official site of the coin said that they had a lot of investor and already implemented in various gambling site, in a week the price is so low, i decided to sold it because there were no improvement in the coin and i only regain 10% of my money

Sled

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One of the mistakes that i know and also experienced in trading when i was a newbie is to being comfortable on an altcoin or other kind of coin that it will be the best on the market and its price will go higher and higher but that doesn't happen. In my newbie experiences i don't even do research about the coin or even read the thread from here, where i can get ideas to make better decisions. So that is one of the mistakes i know in trading which commonly lead to loss of money.

emezh10

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My biggest mistake is I invest in shitcoin I buy large amount of that certain coin and then, the price goes x5 then I sell it and when it goes down I buy again (all in) and then the price go down extremely and then I lost all my money Sad

Lesson Don't be greedy. And don't trust shitcoin.

Topic: Mistakes in trading that lead to loss of money - page 21. (Read 16945 times)