Topic: My thoughts and now my experience. - page 6. (Read 1133 times)

But sometimes in doing research we often use emotions and feelings for example when we are going to invest in a new coin we will not know that the coin will be in good development until a certain period of time and when choosing it only feel that the coin will be good even though reading the whitepaper too or the roadmap won't really know it.


In crypto even if you do research first by diversifying it is still a stupid act, you will be safer by holding only one coin, namely bitcoin than dividing it into altcoins

That diversification is likely the most worse advice to newbies who had not seen the bear market yet. They will only realize it while the bear market had been around for almost a year and thier down to -80% for holding it. 

Heck, I have lost too. But not that I know the cycle will keep cycling whether you have money to invest or not, the 4-year cycle will keep cycling.

About the news, if you're new to the market, it's really going to cause you a lot of panics and hesitations especially if they're bad news like bans and related to FED and other financial companies.

That's why what you've said as #1 is true that anything that you're emotional about, it can lead you to hurt not just your feelings but also your pockets if you're not careful enough.

Many of our cryptocurrency communities are deceived and hyped by news about crypto because others are paid so they become victims or are given wrong information about crypto.

So crypto traders should do their research before investing in a coin or token. And ask here in the forum about the thing you want to know, just like you did it, dude. So that the capital you use to buy cryptocurrency does not go to waste.

I think this factor is often done by beginners in trading and investing. buy assets only by feeling or predicting an increase in assets just because of the blink of an eye looking at the chart. or just because of hearing news related to the project.
This situation is what traps many beginners in making mistakes in buying assets because they do not do it with the right analysis.

Buying altcoins and calling that "diversification" is even more foolish because altcoins do not move independently to be considered a good option for diversification. Whenever bitcoin rises or falls, they get dumped because capital flows back to bitcoin.
If you really want to diversify you have to buy something that is not related to bitcoin, like buying gold for example.

I'd even go as far into saying that it will be almost guaranteed to happen. Even if you're already well versed with the cryptocurrency markets, the risk of losing money is still quite high.

Your last line was amazing and it's the reality in crypto world. If you want to earn without learning properly you may fall into a risk and lose funds. We should have much knowledge about crypto before planning to earn.

"Experience is the best teacher"- though I've been a member of the altcoinstalks community and throughout my stay there they've been some threads about how some users made mistakes by rushing to invest without carrying out proper research about the project which lead to them losing their funds.

Judging by one of your earlier thread you made concerning your friend's mistake. I saw many users giving you advice that would have helped you from making any irrational decision but you still chose to ignore them.

Just as they say "First you Learn, then you remove the 'L' and you Earn."-

I hope this will also serve as an example to other newbies out there, that there is not shortcut to success you have to put in the effort and don't just rely on what others think.


These would also have been helpful if you had applied them.


~Valar~

Hello everyone I joined this forum over a year now and I was very excited to join. I warmly by the forum members and I felt very welcomed. I had great ambition oh well I think my ambitions were overly much.

I had some thoughts about cryptocurrency and I thought they were enough for me to achieve all I had come here for.
I didn't spend much time and jumped into the crypto market and I guess it swallowed me. I ventured into investing, trading, schemes and everything that I thought would give me profits. How wrong I was, I made bad investments that were from my imagination that anything I touched in crypto would favour me all I had to do is buy a low and affordable coin and hold.

Long story short I have some coins in my possession that are dead and from reality now those coins won't rise again.

   My thoughts and now my experience that newbies like I was can learn.

1. Emotions thoughts and feelings can hurt you if they were not researched.

2. You haven't learnt enough just yet. It's not wise to invest with your kindergarten knowledge, take time to on them first.

3. The news can be a disguised trap, I made many investments because I followed the news and what many people were doing, this is a foolish move.

4. Diversification that has no research behind it is foolish. I had thought that once you diversify you can do wrong, how wrong I was. You always have to diversify making use of research and don't be in a hurry to buy.


I have experienced the bitter side of Cryptocurrency and now I don't need someone to tell me that crypto can bite. Moving forward I would pay more attention to learning and asking questions too, all I can say to the newbies is that grow your brain before you try to grow your portfolio.