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Topic: Need to be more cautious than ever (Read 563 times)

buwaytress
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Need to be more cautious than ever
March 08, 2020, 04:24:27 AM
#94
Quote from: South Park on March 07, 2020, 11:52:15 AM
Don't know about you, but it really is easy for me to say hold, and do it. It literally takes no effort once funds are secured in your own wallet! Wasn't fazed at 20k, wasn't at 3k, keep waiting for Bitcoin to truly shock me! But I guess after surviving miners trying to boss things around, big blockers trying to blackmail people, etc. etc. All this is getting kinda boring. Even CW trying feebly to make people scared he's releasing 1M btc was quite embarrassing to see =p
Different strategies are effective for different people, you find holding easy and that is amazing, it means that most likely once bitcoin hits really outrageous prices you are going to still be holding the bitcoin you have now and even more as you buy more bitcoin during the dips, but it is easy to see how holding can be difficult for people, especially for those that bought at the last ATH and had to endure the crash all the way to 3k not knowing if they will ever recover their money.
[/quote]

Well, it depends. For me, to put it simply, I think I have two alternative scenarios for an endgame.

The first is a timeframe, but that's really, really far away. Retirement age, so not earlier than say 2045? So when I reach this age, regardless of price, I will want to liquidate what I can for a retirement and pension (hopefully, not even liquidate if by then bitcoin pays for even more things). And the rest goes to inheritance and I no longer care for what happens to BTC.

The second is a price range, so if this outrageous price hits my range, then I also liquidate and give away remaining to inheritance. This is, of course, the ideal scenario, but unlikely to happen.
Twinkledoe
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Re: Need to be more cautious than ever
March 07, 2020, 06:59:02 PM
#93
It depends on person's priorities at the time of his trading. Because if you are not depending on your crypto portfolio, you can wait til the market is okay. But if you have urgent needs, you will sell your crypto even if you are losing.

Quote from: Kelvinid on March 07, 2020, 06:56:36 PM
I really appreciate those people who could manage to hold in times of crisis. But somehow it was not effective at all times knowing of its volatility. Besides how strong we are and even positive for the upcoming but sometimes we've been affected by our emotions and badly brought us in the worse case and sell our coins.

Most of those people that can manage are those that have no immediate need of their crypto. So they can wait longer. And they are ready to treat this as long-term investment. But this will only be true, if they are holding good alts with real usage. Otherwise, they will be losing a lot of money because they are waiting for nothing.
Kelvinid
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Re: Need to be more cautious than ever
March 07, 2020, 06:56:36 PM
#92
I really appreciate those people who could manage to hold in times of crisis. But somehow it was not effective at all times knowing of its volatility. Besides how strong we are and even positive for the upcoming but sometimes we've been affected by our emotions and badly brought us in the worse case and sell our coins. People have a different market appreciation and therefore, of different thinking that is why some could hold and some could not.
South Park
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Re: Need to be more cautious than ever
March 07, 2020, 11:52:15 AM
#91
Quote from: buwaytress on March 03, 2020, 04:25:14 PM
Quote from: Yamifoud on March 03, 2020, 03:16:02 PM
It was easy to say "HOLD" but we couldn't think that everyone will do the same. It for sure, many will sell their coin when the saw declines just for the sake to save some. Volatility will remain and we don't have to complain about it. That is why we can't see that market just dump instantly because many we're holding, the same thing that it won't move straight high because someone is also selling it. If we all are of the same thinking about the market, it absolutely we can't see its volatility...

Don't know about you, but it really is easy for me to say hold, and do it. It literally takes no effort once funds are secured in your own wallet! Wasn't fazed at 20k, wasn't at 3k, keep waiting for Bitcoin to truly shock me! But I guess after surviving miners trying to boss things around, big blockers trying to blackmail people, etc. etc. All this is getting kinda boring. Even CW trying feebly to make people scared he's releasing 1M btc was quite embarrassing to see =p
Different strategies are effective for different people, you find holding easy and that is amazing, it means that most likely once bitcoin hits really outrageous prices you are going to still be holding the bitcoin you have now and even more as you buy more bitcoin during the dips, but it is easy to see how holding can be difficult for people, especially for those that bought at the last ATH and had to endure the crash all the way to 3k not knowing if they will ever recover their money.
jhonjhon
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Re: Need to be more cautious than ever
March 04, 2020, 03:15:43 AM
#90
Quote from: Wysi on March 02, 2020, 04:20:48 PM
Quote from: Hippocrypto on March 02, 2020, 03:19:28 PM
Quote from: South Park on March 02, 2020, 02:16:27 PM
Quote from: michellee on February 26, 2020, 11:17:20 PM
Quote from: inanilujimi on February 26, 2020, 08:16:21 PM
sometimes the words and actions are not synchronous, in my opinion right now it's good to get out for a while from trading, when the market gets better maybe that's the right time to re-enter.

This time is very difficult for us to stay in the market because the market still goes down, and there is no sign of increasing back. It is better to watch the market only without buying because if we still trying to buy the coin, I am afraid that we can get in a trap by buying at a high price. Maybe we need to calm down to see where the market will move, and if somehow, the price can give us the sign to bounce again, then we can try to buy some amount of the coin so we can try to make a profit in this situations.
We are seeing an important recovery in the market, after reaching 8400 the price has recovered more than 400 dollars which is a good sign, however I do not really believe the market is going to keep going up, the panic for the coronavirus is spreading around the world so most investors are nervous about investing in a speculative asset like bitcoin, so most likely we are going to get to the halving at a price close to what we are seeing now, however there is also the possibility the price goes down before the halving just as it has happened during the previous halvings.

That percentage of price recovery earned a huge impact to holders who've been patiently halting their selling. They've been facing several struggles in life, but still kept choosing to stay focus on their principles to develop an assurance in order to fulfill each and every goals. Price will goes up and down, as part of volatile market so fluctuations could be visible at all times.

We have to accept the fact about crypto domain and make appropriate moves, we cannot blame the market for its fluctuations when we are already aware that it is going to be a volatile situation forever, stability is temporary over here. We need to be mentally prepared for all these fluctuations.

Investors should have known that in the first place before investing in crypto, it is our responsibility as investors to study and know everything about the investment wanted for us to be prepared it whatever it will throw us. Crypto or bitcoin in particular has been very unpredictable in it’s 10 years of existence and we should already know that and that we should have been mentally prepared already and knows what to do around it. We should be wise in managing our coins in whatever situation there maybe.
dunfida
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Re: Need to be more cautious than ever
March 03, 2020, 04:27:57 PM
#89
Quote from: Oasisman on March 02, 2020, 09:56:13 PM
Quote from: Wysi on March 02, 2020, 04:20:48 PM

We have to accept the fact about crypto domain and make appropriate moves, we cannot blame the market for its fluctuations when we are already aware that it is going to be a volatile situation forever, stability is temporary over here. We need to be mentally prepared for all these fluctuations.

There's no stable price for Bitcoin and other alts except the stable coins. Though the price sometimes stay at an specific level, $8,000 for example. But the price are still moving sideways. Let's say it changes more than 1% in a 24hr time frame.
The main problem here isn't the fluctuations or the volatility, but the ability to predict the next market movements.
Your right even in forex and stocks where prices do still moves but it does have lesser percent when it comes to volatility but having fixed price doesnt fit out to be used when talking into markets.

If these things arent moving then profitability would already be an issue yet buyers and sellers wont exist in the first place in that case.The only reason why we do tell that it is stable is on when

the market is moving sideways but as said it do still moves even on the slightest one.
buwaytress
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Re: Need to be more cautious than ever
March 03, 2020, 04:25:14 PM
#88
Quote from: Yamifoud on March 03, 2020, 03:16:02 PM
It was easy to say "HOLD" but we couldn't think that everyone will do the same. It for sure, many will sell their coin when the saw declines just for the sake to save some. Volatility will remain and we don't have to complain about it. That is why we can't see that market just dump instantly because many we're holding, the same thing that it won't move straight high because someone is also selling it. If we all are of the same thinking about the market, it absolutely we can't see its volatility...

Don't know about you, but it really is easy for me to say hold, and do it. It literally takes no effort once funds are secured in your own wallet! Wasn't fazed at 20k, wasn't at 3k, keep waiting for Bitcoin to truly shock me! But I guess after surviving miners trying to boss things around, big blockers trying to blackmail people, etc. etc. All this is getting kinda boring. Even CW trying feebly to make people scared he's releasing 1M btc was quite embarrassing to see =p
Yamifoud
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Re: Need to be more cautious than ever
March 03, 2020, 03:16:02 PM
#87
Quote from: kentrolla on March 03, 2020, 02:45:33 PM
Quote from: ?? on ??
Quote from: Wysi on February 18, 2020, 02:30:43 PM
Guys, It's time we need to be more cautious and avoid panic sell or massive buy we might see more of these market fluctuations which might be tempting as well as bothering. Please consider a broader picture before making any decision and consult with fellow peers rather than falling for a bull trap or panic sell, lets learn from our mistakes we made in the past.
panic selling is also very important friend, don't only look at it from one point of view, but more than one, if you don't sell it then you can also get caught up, and one surefire way you take it is HOLD, it doesn't matter if you sell it right, even if you have a loss

Panic sell will lead you to the downfall mate, Just hold and wait until the market gears up also it's not about looking at one point it's Just a precaution. I agree the market is very volatile but that doesn't mean it will go down day by day, once the market starts slowly recovering then you can make your decisions.
It was easy to say "HOLD" but we couldn't think that everyone will do the same. It for sure, many will sell their coin when the saw declines just for the sake to save some. Volatility will remain and we don't have to complain about it. That is why we can't see that market just dump instantly because many we're holding, the same thing that it won't move straight high because someone is also selling it. If we all are of the same thinking about the market, it absolutely we can't see its volatility...
kentrolla
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Re: Need to be more cautious than ever
March 03, 2020, 02:45:33 PM
#86
Quote from: ?? on ??
Quote from: Wysi on February 18, 2020, 02:30:43 PM
Guys, It's time we need to be more cautious and avoid panic sell or massive buy we might see more of these market fluctuations which might be tempting as well as bothering. Please consider a broader picture before making any decision and consult with fellow peers rather than falling for a bull trap or panic sell, lets learn from our mistakes we made in the past.
panic selling is also very important friend, don't only look at it from one point of view, but more than one, if you don't sell it then you can also get caught up, and one surefire way you take it is HOLD, it doesn't matter if you sell it right, even if you have a loss

Panic sell will lead you to the downfall mate, Just hold and wait until the market gears up also it's not about looking at one point it's Just a precaution. I agree the market is very volatile but that doesn't mean it will go down day by day, once the market starts slowly recovering then you can make your decisions.
KTChampions
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Re: Need to be more cautious than ever
March 03, 2020, 02:15:25 PM
#85
Quote from: el kaka22 on March 03, 2020, 09:35:48 AM
I assume when people say that price of bitcoin is stable they do not mean it is literally exactly the same amount, they mean that volatility is lower those days and spread is smaller as well. Sure it moves a lot even on the calm days compared to worlds many other investment options but considering bitcoin has moved from 7k dollars to 10k to now under 9k once again in just under 2 months, we can safely say that when bitcoin moves only 200-300 dollars that is "stable" for bitcoin.

So, it is actually a relative stable compared to what you mean by other stable terms. Dollar is more stable even tho it loses its value as well but inflation is very tiny compared to what bitcoin can do, however bitcoin is stable now as well compared to how volatile it can be, its all relative.

Short periods of time when bitcoin is stable (movement in the range of 200-300 dollars) does not speak of any qualitative changes in volatility. These can be periods of consolidation before rising or falling, and after them volatility can rise sharply again. This pattern is constantly repeated. Perhaps the emergence of many derivatives can affect the decrease in bitcoin volatility, but I do not think that this will be a radical influence.
tbterryboy
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Re: Need to be more cautious than ever
March 03, 2020, 01:06:03 PM
#84
Quote from: Wysi on February 18, 2020, 02:30:43 PM
Guys, It's time we need to be more cautious and avoid panic sell or massive buy we might see more of these market fluctuations which might be tempting as well as bothering. Please consider a broader picture before making any decision and consult with fellow peers rather than falling for a bull trap or panic sell, lets learn from our mistakes we made in the past.
You sound too realistic but fortunately I'm not a short-term trader hence I never need to worry about any bull trap or panic sell scenarios. These are the concerns only for the active traders and for the people who believing in to making use of dips for buying, definitely no need to worry about them.

Panic and uncertainty due to corona virus must be one of the important factor every bitcoiner must need to consider at this moment. Because, it must be completely all-new factor which is highly influencing world economy and economics of bitcoin too. So, we need to react according to the market fluctuations this time because we have never experienced what such worldwide economic panic will do in the history of bitcoin markets.
el kaka22
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Re: Need to be more cautious than ever
March 03, 2020, 09:35:48 AM
#83
I assume when people say that price of bitcoin is stable they do not mean it is literally exactly the same amount, they mean that volatility is lower those days and spread is smaller as well. Sure it moves a lot even on the calm days compared to worlds many other investment options but considering bitcoin has moved from 7k dollars to 10k to now under 9k once again in just under 2 months, we can safely say that when bitcoin moves only 200-300 dollars that is "stable" for bitcoin.

So, it is actually a relative stable compared to what you mean by other stable terms. Dollar is more stable even tho it loses its value as well but inflation is very tiny compared to what bitcoin can do, however bitcoin is stable now as well compared to how volatile it can be, its all relative.
Oasisman
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Re: Need to be more cautious than ever
March 02, 2020, 09:56:13 PM
#82
Quote from: Wysi on March 02, 2020, 04:20:48 PM

We have to accept the fact about crypto domain and make appropriate moves, we cannot blame the market for its fluctuations when we are already aware that it is going to be a volatile situation forever, stability is temporary over here. We need to be mentally prepared for all these fluctuations.

There's no stable price for Bitcoin and other alts except the stable coins. Though the price sometimes stay at an specific level, $8,000 for example. But the price are still moving sideways. Let's say it changes more than 1% in a 24hr time frame.
The main problem here isn't the fluctuations or the volatility, but the ability to predict the next market movements.
Wysi
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Re: Need to be more cautious than ever
March 02, 2020, 04:20:48 PM
#81
Quote from: Hippocrypto on March 02, 2020, 03:19:28 PM
Quote from: South Park on March 02, 2020, 02:16:27 PM
Quote from: michellee on February 26, 2020, 11:17:20 PM
Quote from: inanilujimi on February 26, 2020, 08:16:21 PM
sometimes the words and actions are not synchronous, in my opinion right now it's good to get out for a while from trading, when the market gets better maybe that's the right time to re-enter.

This time is very difficult for us to stay in the market because the market still goes down, and there is no sign of increasing back. It is better to watch the market only without buying because if we still trying to buy the coin, I am afraid that we can get in a trap by buying at a high price. Maybe we need to calm down to see where the market will move, and if somehow, the price can give us the sign to bounce again, then we can try to buy some amount of the coin so we can try to make a profit in this situations.
We are seeing an important recovery in the market, after reaching 8400 the price has recovered more than 400 dollars which is a good sign, however I do not really believe the market is going to keep going up, the panic for the coronavirus is spreading around the world so most investors are nervous about investing in a speculative asset like bitcoin, so most likely we are going to get to the halving at a price close to what we are seeing now, however there is also the possibility the price goes down before the halving just as it has happened during the previous halvings.

That percentage of price recovery earned a huge impact to holders who've been patiently halting their selling. They've been facing several struggles in life, but still kept choosing to stay focus on their principles to develop an assurance in order to fulfill each and every goals. Price will goes up and down, as part of volatile market so fluctuations could be visible at all times.

We have to accept the fact about crypto domain and make appropriate moves, we cannot blame the market for its fluctuations when we are already aware that it is going to be a volatile situation forever, stability is temporary over here. We need to be mentally prepared for all these fluctuations.
KTChampions
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Re: Need to be more cautious than ever
March 02, 2020, 04:01:05 PM
#80
Quote from: Ethereums on February 28, 2020, 12:59:35 AM
Quote from: STT on February 26, 2020, 10:32:29 PM
https://i.imgur.com/NJgSoS6.png
This is where people get rekt for selling since the price keeps falling. But at the moment, someone trying to take the chance since he knows there will be a bottom for this situation. My friend told me this is the chance to buy at low, but i still not convinced and still waiting for the best price at 7k actually. Maybe just my personal analyst that made me keep sane at the bay right now. I can't afford to lose my saving if i buy at this price level since many bear still lurking if u watch the price movement.
For this level right now which at 8K level , price still on sideways moment. My speculation there will be big movement again in 2-3 days, and there will be raise or falling deeper to 7K which already mentioned before. I hope my analyst goes wrong since many of my friends keep buying at this level which they think already cheap if they took 10K before as last top level.
Well, i couldn't agree more if they think like that...

The fall did not happen. The growth that we have seen since the writing of your post has already been “closed” by your forecast or is there still uncertainty? I (like many others) expected this day to open with a decrease in cryptocurrency prices and was very surprised by what happened.
Hippocrypto
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Re: Need to be more cautious than ever
March 02, 2020, 03:19:28 PM
#79
Quote from: South Park on March 02, 2020, 02:16:27 PM
Quote from: michellee on February 26, 2020, 11:17:20 PM
Quote from: inanilujimi on February 26, 2020, 08:16:21 PM
sometimes the words and actions are not synchronous, in my opinion right now it's good to get out for a while from trading, when the market gets better maybe that's the right time to re-enter.

This time is very difficult for us to stay in the market because the market still goes down, and there is no sign of increasing back. It is better to watch the market only without buying because if we still trying to buy the coin, I am afraid that we can get in a trap by buying at a high price. Maybe we need to calm down to see where the market will move, and if somehow, the price can give us the sign to bounce again, then we can try to buy some amount of the coin so we can try to make a profit in this situations.
We are seeing an important recovery in the market, after reaching 8400 the price has recovered more than 400 dollars which is a good sign, however I do not really believe the market is going to keep going up, the panic for the coronavirus is spreading around the world so most investors are nervous about investing in a speculative asset like bitcoin, so most likely we are going to get to the halving at a price close to what we are seeing now, however there is also the possibility the price goes down before the halving just as it has happened during the previous halvings.

That percentage of price recovery earned a huge impact to holders who've been patiently halting their selling. They've been facing several struggles in life, but still kept choosing to stay focus on their principles to develop an assurance in order to fulfill each and every goals. Price will goes up and down, as part of volatile market so fluctuations could be visible at all times.
South Park
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Re: Need to be more cautious than ever
March 02, 2020, 02:16:27 PM
#78
Quote from: michellee on February 26, 2020, 11:17:20 PM
Quote from: inanilujimi on February 26, 2020, 08:16:21 PM
sometimes the words and actions are not synchronous, in my opinion right now it's good to get out for a while from trading, when the market gets better maybe that's the right time to re-enter.

This time is very difficult for us to stay in the market because the market still goes down, and there is no sign of increasing back. It is better to watch the market only without buying because if we still trying to buy the coin, I am afraid that we can get in a trap by buying at a high price. Maybe we need to calm down to see where the market will move, and if somehow, the price can give us the sign to bounce again, then we can try to buy some amount of the coin so we can try to make a profit in this situations.
We are seeing an important recovery in the market, after reaching 8400 the price has recovered more than 400 dollars which is a good sign, however I do not really believe the market is going to keep going up, the panic for the coronavirus is spreading around the world so most investors are nervous about investing in a speculative asset like bitcoin, so most likely we are going to get to the halving at a price close to what we are seeing now, however there is also the possibility the price goes down before the halving just as it has happened during the previous halvings.
Ethereums
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Re: Need to be more cautious than ever
February 28, 2020, 12:59:35 AM
#77
Quote from: STT on February 26, 2020, 10:32:29 PM

This is where people get rekt for selling since the price keeps falling. But at the moment, someone trying to take the chance since he knows there will be a bottom for this situation. My friend told me this is the chance to buy at low, but i still not convinced and still waiting for the best price at 7k actually. Maybe just my personal analyst that made me keep sane at the bay right now. I can't afford to lose my saving if i buy at this price level since many bear still lurking if u watch the price movement.
For this level right now which at 8K level , price still on sideways moment. My speculation there will be big movement again in 2-3 days, and there will be raise or falling deeper to 7K which already mentioned before. I hope my analyst goes wrong since many of my friends keep buying at this level which they think already cheap if they took 10K before as last top level.
Well, i couldn't agree more if they think like that...
sunsilk
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Re: Need to be more cautious than ever
February 28, 2020, 12:49:28 AM
#76
Quote from: ice098 on February 27, 2020, 02:37:05 PM
If we're still making same mistakes just like before, nothing will change but frustrations will happen again and again. You won't improve within yourself, because you let the past dominates over you.
Yeah, correcting the past mistake is the best thing to do right now. If you have been buying at the top then why not reverse it and start buying while it's at the bottom. And as we can see, the market isn't that high and it's not on the peak.

Meaning, that if we're even buying at the top for the past few years or with your past experience then why not try to buy when the price of bitcoin is way cheaper as it is right now?
TIDOVEE
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Re: Need to be more cautious than ever
February 27, 2020, 11:53:12 PM
#75
Thank you, I don't think there is anyone here who was here at the 2017 period, who Should have not learnt one lesson or another. It's about 3 years now. And any one then should be 3years older in cryptocurrency. It's not a small period of experience. So, we should be good advisers to ourselves and those who are just coming in. Though we can't stop learning. The issue of when to sell and buy still however depends on individual motive. Some wouldn't mind to loose now because the are ready to consciously bear the loss, to meet up other fains.
ice098
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Re: Need to be more cautious than ever
February 27, 2020, 02:37:05 PM
#74
If we're still making same mistakes just like before, nothing will change but frustrations will happen again and again. You won't improve within yourself, because you let the past dominates over you. Let all the worries and hesitations gone away, and start all in scratch then move on a new way of life then set all certain plans according to previous bad experiences.
Consider it as your warning and prevent any sorts of panic overpower your decisions, always let your best skills prevail instead of seeking others opinion.
KTChampions
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Re: Need to be more cautious than ever
February 27, 2020, 12:55:33 PM
#73
Quote from: dragonvslinux on February 27, 2020, 09:39:32 AM
Buy when others are fearful.

https://alternative.me/crypto/fear-and-greed-index.png

As Rothschild said: "Buy when there's blood in the streets, even if the blood is your own." But most likely he did not mean margin trading, but conservative investments during the crisis. Given the fact that the crisis is just starting to buy too early.
Ridwan Fauzi
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Re: Need to be more cautious than ever
February 27, 2020, 09:43:58 AM
#72
Quote from: ?? on ??
Quote from: Wysi on February 18, 2020, 02:30:43 PM
Guys, It's time we need to be more cautious and avoid panic sell or massive buy we might see more of these market fluctuations which might be tempting as well as bothering. Please consider a broader picture before making any decision and consult with fellow peers rather than falling for a bull trap or panic sell, lets learn from our mistakes we made in the past.
panic selling is also very important friend, don't only look at it from one point of view, but more than one, if you don't sell it then you can also get caught up, and one surefire way you take it is HOLD, it doesn't matter if you sell it right, even if you have a loss
As far as I know, the trader will never have any strategy which is namely panic selling. They will know the price will up and down based on their prediction. I mean, when they knos that in a few time a head a coin price will go down then he will put the price to buy.

So, I assume that panic selling is for those who didn't know the prediction or they only make a decision to buy and sell based on their lust and was tempting with the movement price. And it is negative thing if my perspective so as much as possible I should be a able to avoid it.
dragonvslinux
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Re: Need to be more cautious than ever
February 27, 2020, 09:39:32 AM
#71
Buy when others are fearful.

KTChampions
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Re: Need to be more cautious than ever
February 27, 2020, 06:42:25 AM
#70
Quote from: STT on February 26, 2020, 10:32:29 PM
Its looking pretty dam shaky, I want to know if the current prices will form to be a ceiling or we can recover above them.   It is possible its begun a quite aggressive negative trend

https://i.imgur.com/NJgSoS6.png

Previous on the left it turned into a bit of support but its below that trend at the moment.   Aggressive targets to downside are 7500 area or lows of late last year.

Negative phenomena in the economy greatly affect the crypto. If countries do not start massively introducing QE analogues to support an economy suffering from coronavirus, then we will fall much lower than these levels. Maybe to 4000-5000.
Oasisman
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Re: Need to be more cautious than ever
February 26, 2020, 11:31:03 PM
#69
Quote from: inanilujimi on February 26, 2020, 08:16:21 PM
sometimes the words and actions are not synchronous, in my opinion right now it's good to get out for a while from trading, when the market gets better maybe that's the right time to re-enter.


What do you mean words and action? I assume you mean the predictions "sometimes" don't coincide the outcome. Well, most of the time predictions doesn't meet the expectation. Not "sometimes", but "most of the time".
Why dont you want to get out of the market when the price is declining? Imho, that's the perfect time to get in and buy more while the price are still low. Then get out when the price target is reached.
CaVO32
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Re: Need to be more cautious than ever
February 26, 2020, 11:24:27 PM
#68
Quote from: michellee on February 26, 2020, 11:17:20 PM
Quote from: inanilujimi on February 26, 2020, 08:16:21 PM
sometimes the words and actions are not synchronous, in my opinion right now it's good to get out for a while from trading, when the market gets better maybe that's the right time to re-enter.

This time is very difficult for us to stay in the market because the market still goes down, and there is no sign of increasing back. It is better to watch the market only without buying because if we still trying to buy the coin, I am afraid that we can get in a trap by buying at a high price. Maybe we need to calm down to see where the market will move, and if somehow, the price can give us the sign to bounce again, then we can try to buy some amount of the coin so we can try to make a profit in this situations.

we have been in up and down movement so many times. but here we are, we are still here believing in bitcoin. but of course if you are in tight spot right now when it comes to investment, you really have to be cautious where you will invest. or ask yourself, if it is time to invest in alts or just stick to few top crypto like btc. and by now, we know that investing in crypto comes at high risk, so whatever you decide at the end of the day, you should have contingencies afterwards. else, you will be trap and will make decisions that will further ruin your financial situation.
michellee
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Re: Need to be more cautious than ever
February 26, 2020, 11:17:20 PM
#67
Quote from: inanilujimi on February 26, 2020, 08:16:21 PM
sometimes the words and actions are not synchronous, in my opinion right now it's good to get out for a while from trading, when the market gets better maybe that's the right time to re-enter.

This time is very difficult for us to stay in the market because the market still goes down, and there is no sign of increasing back. It is better to watch the market only without buying because if we still trying to buy the coin, I am afraid that we can get in a trap by buying at a high price. Maybe we need to calm down to see where the market will move, and if somehow, the price can give us the sign to bounce again, then we can try to buy some amount of the coin so we can try to make a profit in this situations.
lienfaye
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Re: Need to be more cautious than ever
February 26, 2020, 11:10:53 PM
#66
Quote from: Wysi on February 18, 2020, 02:30:43 PM
Guys, It's time we need to be more cautious and avoid panic sell or massive buy we might see more of these market fluctuations which might be tempting as well as bothering. Please consider a broader picture before making any decision and consult with fellow peers rather than falling for a bull trap or panic sell, lets learn from our mistakes we made in the past.
Indeed we should learn from our past experience and think deeply what could be the best move to gain profit. But sometimes even we already experience losing our capital due to wrong decision we tend to forget it and again taking the risk hoping this is the right thing to do.

Each of us has different way of thinking and we can't coerce anyone to do the same just because we thought we are right. It's just shows that we have different strategy and belief on how the market will perform.
flyer88
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Re: Need to be more cautious than ever
February 26, 2020, 10:57:27 PM
#65
Quote from: bhabygrim on February 26, 2020, 09:33:59 PM
We should have done this right from the very start but I guess there isn't something like being too late in crypto.
It would always be better safe than sorry so we should really be more cautious than ever,
We have experience the rapid price increase in 2017 and also the rapid downfall of 2018 so we should be more cautious right now that there are more people who are trying to create FUD and FOMO.
Seeing the fall in prices like this time of course we must be vigilant if you want to buy, maybe prices will continue to plummet in the next few days. But some people just make this a good opportunity to buy lots of potential coins as their long-term investment. All choices are up to you, but I think now is not the right time to sell your coins.
STT
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Re: Need to be more cautious than ever
February 26, 2020, 10:32:29 PM
#64
Its looking pretty dam shaky, I want to know if the current prices will form to be a ceiling or we can recover above them.   It is possible its begun a quite aggressive negative trend



Previous on the left it turned into a bit of support but its below that trend at the moment.   Aggressive targets to downside are 7500 area or lows of late last year.
samcrypto
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Re: Need to be more cautious than ever
February 26, 2020, 09:39:29 PM
#63
Quote from: Gladiator25 on February 22, 2020, 10:14:10 AM
Quote from: Wysi on February 18, 2020, 02:30:43 PM
Guys, It's time we need to be more cautious and avoid panic sell or massive buy we might see more of these market fluctuations which might be tempting as well as bothering. Please consider a broader picture before making any decision and consult with fellow peers rather than falling for a bull trap or panic sell, lets learn from our mistakes we made in the past.

When you start in investing or trading in crypto or maybe before you start, you should know how to be more cautious because money is not just a talk. We need money for us to buy all our needs and want. Being cautious doesn't need to remind to people every little time, besides all of us should know that money is not that easy to get.
That's right because as an investors we should know when to go and when to stop, the market is not just about taking profit always, sometimes cutting our losses is the best decision. Be cautious always, if you don't know what to do then better to study and know how to trade and invest properly. People with a lot of greed and only focus on the possible profit are on a higher risk, invest on yourself as well and know how to be more responsible.
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Re: Need to be more cautious than ever
February 26, 2020, 09:33:59 PM
#62
We should have done this right from the very start but I guess there isn't something like being too late in crypto.
It would always be better safe than sorry so we should really be more cautious than ever,
We have experience the rapid price increase in 2017 and also the rapid downfall of 2018 so we should be more cautious right now that there are more people who are trying to create FUD and FOMO.
inanilujimi
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Re: Need to be more cautious than ever
February 26, 2020, 08:16:21 PM
#61
sometimes the words and actions are not synchronous, in my opinion right now it's good to get out for a while from trading, when the market gets better maybe that's the right time to re-enter.
South Park
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Re: Need to be more cautious than ever
February 26, 2020, 04:45:13 PM
#60
Quote from: criza on February 23, 2020, 11:48:11 PM
Indeed, now that the price of Bitcoin is slowly retaining its price above the $9,400, this could be a sign of the Bullish run everyone thinks of. As the days comes closer and closer to the month of the halving in may, we should keep on holding Bitcoin for the fact that its supply would be affected greatly by the event. The halving indicates a massive demand for Bitcoin as its supply gradually decrease during and after the event. This could be the best time to buy a lot of Bitcoin before its price pumps high and it would be too late.
This is why you need to be incredibly cautious, just today the price has gone down significantly and the past days have been terrible for anyone predicting that a bull run was coming, the market reached a price that was unsustainable and now we are seeing an important correction, to me the current price is close to what I would consider fair but I will not be surprised if it overcorrected as panic took control over the market during the next few days.
milewilda
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Re: Need to be more cautious than ever
February 26, 2020, 09:24:22 AM
#59
Quote from: Wysi on February 18, 2020, 02:30:43 PM
Guys, It's time we need to be more cautious and avoid panic sell or massive buy we might see more of these market fluctuations which might be tempting as well as bothering. Please consider a broader picture before making any decision and consult with fellow peers rather than falling for a bull trap or panic sell, lets learn from our mistakes we made in the past.

Easy to say but really hard to be done by someone who've been dealing with this market specially volatility is your main enemy.
You cant say that you wont be falling into Fuds or Fomos from time to time because even veterans do experience panic sell or massive buy
but somewhat our experience would really be helpful on how we do face up these circumstances.Being cautious is a must if you do like
to succeed into this market.
Barbut
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Re: Need to be more cautious than ever
February 26, 2020, 06:38:44 AM
#58
"Need to be more cautious than ever" is the same thing I seen 4 years ago when I joined crypto. People who are in for longer wrote about troubled times, that caution should be on the highest possible level. What's changed? As anyone can notice nothing except one thing, the crypto market worth more now than before, more money is in it, everything else is the same, the price still fluctuates, there are good and bad projects, people should be careful all the time!
CHENIEN
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Re: Need to be more cautious than ever
February 25, 2020, 09:02:13 PM
#57
I agree that learning from the mistake will be important,its because we cannot predict our business fate on a daily basis ,as they say that experience is the best teacher.so if your profit today is too small you must do something else to prevent loss and stress and make your own market recovery,i mean you have to be wisely and careful because money is easy to find but it is easy lose in a flash and maybe you need to undergo some training for trading to avoid panic to buy and sell to the market.
jhonjhon
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Re: Need to be more cautious than ever
February 25, 2020, 07:30:51 PM
#56
Quote from: shoreno on February 21, 2020, 09:40:58 AM
if we already done a mistake on the past then we already know how to deal with this kind of market  or unless if you are a hard headed person that still love to do and repeat same mistake again and again  . speaking of mistake , its not a mistake to buy once you saw a drop on the price but its a mistake to sell once the prices are droping especially these days  .  its okay to consult others if your unsure about your decisions but that is risky because you wont know if they are telling the truth or not 

Doing the wrong thing or decision the first time is called a mistake but if you did it again then it isn’t a mistake anymore it is a choice. You already know it is a mistake why do it again right?. The simple role in bitcoin is buy low and sell high which means you buy when the price is lower and sell it if the price is higher than the price when you purchased it, sell when you think you can get profits from it.
Oceat
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Re: Need to be more cautious than ever
February 25, 2020, 01:37:58 PM
#55
Quote from: Questat on February 24, 2020, 09:10:16 AM
Quote from: Kelvinid on February 24, 2020, 07:17:14 AM
Now, the risk of buying Bitcoin today is somewhat of higher risk as the price started to soar high. If you have that strong belief and trust towards Bitcoin, you're certainly be buying more but for those who are taking more precautions, they might not and may have to wait for the price to dump before investing.
The risk would not be high if you are willing to hold for longer term, bitcon already soar a big percentage since it started this year but there's still more room for growth, bitcoin is expected to rise due to the increasing demand so $20,000 is still quite a good target in 1 year time from now.
That increasing demand pushes the traders to buy and sell due to the coming of Bitcoin halving but the real effect of it is not yet present. We must wait for the right time before bulk buying because the whales will eat up your investment in no time if you don't know what is happening in the market. Always minimize the risk to avoid some trouble when the whales start to move.
Baoo
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Re: Need to be more cautious than ever
February 25, 2020, 12:53:32 PM
#54
I am pretty agree with what you have said OP, the volatility is a normally fact in the whole market, and we need to be careful before taking any decision especially in the worst situation ( big dip ). In addition to that,  it is really essential to learn from your failed experiences, that is one of the most important things in this domain, try to make a plan for each situation, and believe me, the ancidents are always happen, get ready for anything. Plus, panic sell is really widespread especially in newbies because they don't have that experience and knowledge.
Questat
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Re: Need to be more cautious than ever
February 24, 2020, 09:10:16 AM
#53
Quote from: Kelvinid on February 24, 2020, 07:17:14 AM
Now, the risk of buying Bitcoin today is somewhat of higher risk as the price started to soar high. If you have that strong belief and trust towards Bitcoin, you're certainly be buying more but for those who are taking more precautions, they might not and may have to wait for the price to dump before investing.
The risk would not be high if you are willing to hold for longer term, bitcon already soar a big percentage since it started this year but there's still more room for growth, bitcoin is expected to rise due to the increasing demand so $20,000 is still quite a good target in 1 year time from now.
Kelvinid
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Re: Need to be more cautious than ever
February 24, 2020, 07:17:14 AM
#52
Quote from: criza on February 23, 2020, 11:48:11 PM
Indeed, now that the price of Bitcoin is slowly retaining its price above the $9,400, this could be a sign of the Bullish run everyone thinks of. As the days comes closer and closer to the month of the halving in may, we should keep on holding Bitcoin for the fact that its supply would be affected greatly by the event. The halving indicates a massive demand for Bitcoin as its supply gradually decrease during and after the event. This could be the best time to buy a lot of Bitcoin before its price pumps high and it would be too late.
The positive looks of the market today are really fulfilling and people will expect a bullish trend rather than to think of a bearish one. But then, and in most cases that weak hand will still be struggling hard to protect their assets once, there are dumps happening around and could trigger them to sell immediately at no doubts.

Now, the risk of buying Bitcoin today is somewhat of higher risk as the price started to soar high. If you have that strong belief and trust towards Bitcoin, you're certainly be buying more but for those who are taking more precautions, they might not and may have to wait for the price to dump before investing.
criza
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Re: Need to be more cautious than ever
February 23, 2020, 11:48:11 PM
#51
Indeed, now that the price of Bitcoin is slowly retaining its price above the $9,400, this could be a sign of the Bullish run everyone thinks of. As the days comes closer and closer to the month of the halving in may, we should keep on holding Bitcoin for the fact that its supply would be affected greatly by the event. The halving indicates a massive demand for Bitcoin as its supply gradually decrease during and after the event. This could be the best time to buy a lot of Bitcoin before its price pumps high and it would be too late.
bitgolden
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Re: Need to be more cautious than ever
February 22, 2020, 12:11:30 PM
#50
Honestly, finance is such a fragile thing for the not wealthy people that when we lose a good chunk of our money we are poor and starving, when wealthy lose their money they are just in debt to get back up and get more loans and debt to get back up as well. Donald Trump for example is said to be in 300 million dollar debt and bankrupted so many business, the difference between rich and poor is just like that, you and I can't afford to open bunch of business' and bankrupt them and be in millions of dollars in debt, I am not saying it would be bad for us or we would be like this or that, I am saying WE CAN'T, nobody would give us that kind of money to even test it.

Considering all of that, you need to be very careful with what you are doing in crypto because nobody will come save you like they do to rich people.
South Park
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Re: Need to be more cautious than ever
February 22, 2020, 11:05:17 AM
#49
Quote from: Wysi on February 18, 2020, 02:30:43 PM
Guys, It's time we need to be more cautious and avoid panic sell or massive buy we might see more of these market fluctuations which might be tempting as well as bothering. Please consider a broader picture before making any decision and consult with fellow peers rather than falling for a bull trap or panic sell, lets learn from our mistakes we made in the past.
When you are trading you always need to be careful since you are putting your money at risk, and most importantly you always need to have a stop loss in whatever exchange that you are using because just a few days ago there was a fall of 700 dollars in the price of bitcoin in less than an hour, that was a drop of 8% and while this is bad enough anyone being long and on margin was probably destroyed by that movement if they were not using a stop loss.
gweedo
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Re: Need to be more cautious than ever
February 22, 2020, 10:41:49 AM
#48
Quote from: Reid on February 22, 2020, 06:32:13 AM
Learn from the mistakes.
I always try to remind that to myself.
It is just that. . . its difficult when it is yourself who is saying it. You always need that someone to remind you.
Thank you for doing that.

Is this really that "once" event that will happen per year? The fluctuating market where your eyes is like rolling when seeing the ups and downs of the value of every cryptocurrency?
And have you learned how to avoid those mistakes successfully? I personally had a lot of investment mistakes in the past, and I was thinking the same way you do. But to be honest, it's hard to avoid mistakes in the future because this market is changing and things are getting a lot harder than before.
Gladiator25
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Re: Need to be more cautious than ever
February 22, 2020, 10:14:10 AM
#47
Quote from: Wysi on February 18, 2020, 02:30:43 PM
Guys, It's time we need to be more cautious and avoid panic sell or massive buy we might see more of these market fluctuations which might be tempting as well as bothering. Please consider a broader picture before making any decision and consult with fellow peers rather than falling for a bull trap or panic sell, lets learn from our mistakes we made in the past.

When you start in investing or trading in crypto or maybe before you start, you should know how to be more cautious because money is not just a talk. We need money for us to buy all our needs and want. Being cautious doesn't need to remind to people every little time, besides all of us should know that money is not that easy to get.
Latviand
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Re: Need to be more cautious than ever
February 22, 2020, 07:02:57 AM
#46
People should have learned something from the past. The market value of Bitcoin have reached $10,000 this month and recently, the price fell below the said price mark. Many people have already assume continuous downfall but the is now again close to $10,000 which should be an obvious sign to not be scared whenever the price is falling especially if the decrease is not that low. People should see drawbacks as an opportunity to invest in order to earn profit once recovery occur.
Quote from: sheenshane on February 22, 2020, 12:35:45 AM
Panic selling and buying is a personal issue of someone. This thread wouldn't help them by doing so. But maybe you just have to let it go.

There is a must to have losers to have winners though. Easier said than done, they said. The market might be that volatile but the patience of the people cannot be changed that easily. But the fluctuation isn't that bad. It doesn't mean that you have to be careful though. You have to be smart. It's very simple, sell only if your profit was there.
It would somewhat help them. Such thread would still remind them to be calm but it is their decision whether to apply such reminder or not. We cannot also blame those who panic immediately whenever the market price is falling because that is their money in the first place and it won't surely be easy to see yourself losing profit. We don't have the same tolerance with regards to stress, and things could be worked out.
Reid
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Re: Need to be more cautious than ever
February 22, 2020, 06:32:13 AM
#45
Learn from the mistakes.
I always try to remind that to myself.
It is just that. . . its difficult when it is yourself who is saying it. You always need that someone to remind you.
Thank you for doing that.

Is this really that "once" event that will happen per year? The fluctuating market where your eyes is like rolling when seeing the ups and downs of the value of every cryptocurrency?
ethereumhunter
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Re: Need to be more cautious than ever
February 22, 2020, 03:29:28 AM
#44
Learning from the mistakes will be important, so we don't make the same mistake. We need to introspect with what we did before and analyze what mistakes we already made so that we can improve our knowledge and we can analyze better than before. We need to prevent ourselves from the panic buy and sell situations because that will not help us to make a profit, but we can get losing if we cannot analyze with the current conditions. If we can stay calm with everything that happens in the market, we can get a good time to enter the market, and trying to make a profit.
Free1bitco.in
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Re: Need to be more cautious than ever
February 22, 2020, 01:09:32 AM
#43
Quote from: sheenshane on February 22, 2020, 12:35:45 AM
Panic selling and buying is a personal issue of someone. This thread wouldn't help them by doing so. But maybe you just have to let it go.

There is a must to have losers to have winners though. Easier said than done, they said. The market might be that volatile but the patience of the people cannot be changed that easily. But the fluctuation isn't that bad. It doesn't mean that you have to be careful though. You have to be smart. It's very simple, sell only if your profit was there.
Well, I appreciate how his actions to try to calm people who are often involved with panic sell. for now, that kind of thing often happens, especially when the price of bitcoin drops from $ 10000, which honestly makes people panic. however, panic sell is a very normal thing that we can feel. however we know that it will be detrimental, it's just that, circumstances seem to encourage us to sell it.
so far I managed to hold back my passion for selling when prices dropped. I believe that the price of bitcoin or altcoin will be better in the future.
sheenshane
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Re: Need to be more cautious than ever
February 22, 2020, 12:35:45 AM
#42
Panic selling and buying is a personal issue of someone. This thread wouldn't help them by doing so. But maybe you just have to let it go.

There is a must to have losers to have winners though. Easier said than done, they said. The market might be that volatile but the patience of the people cannot be changed that easily. But the fluctuation isn't that bad. It doesn't mean that you have to be careful though. You have to be smart. It's very simple, sell only if your profit was there.
jackg
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Re: Need to be more cautious than ever
February 21, 2020, 12:56:44 PM
#41
Quote from: eaLiTy on February 21, 2020, 07:22:25 AM
Quote from: jackg on February 18, 2020, 03:06:35 PM
An acceptable state, however buying whenever with well defined stop loss shouldn't cause any problems as long as you're happy with the sl and the losses you may make...
The only aspect i avoid in the BTCitcoin market is putting a stop loss as the market could recover in a moments time and then you end up in a heavy loss, this is a unique market where stop loss function has its own risk as the market recovers quickly as it went down and you wont get a chance to enter again during that period. The only concept i follow is to wait for the market to recover and the idea of halving and a rally is still eminent and with that confidence i would not risk the stop loss function. In any other scenario it is a great option.



Yeah I do a lot of leveraged trades so I have to determine an accurate liquidation and stop loss price before I open the trade... Typically speaking if your stop is anywhere from 5-20% for a short term trade, you're normally alright. With less risk at the 20 end and further down.

If you're not using leverage stops don't matter unless they're at key levels. If you had a stop at $5000 for example then you'd have done well in 2019 when we stumbled below that mark.
shoreno
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Re: Need to be more cautious than ever
February 21, 2020, 09:40:58 AM
#40
if we already done a mistake on the past then we already know how to deal with this kind of market  or unless if you are a hard headed person that still love to do and repeat same mistake again and again  . speaking of mistake , its not a mistake to buy once you saw a drop on the price but its a mistake to sell once the prices are droping especially these days  .  its okay to consult others if your unsure about your decisions but that is risky because you wont know if they are telling the truth or not 
buwaytress
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Re: Need to be more cautious than ever
February 21, 2020, 09:26:12 AM
#39
Quote from: snipie on February 19, 2020, 05:29:24 AM
People will never learn nor listen.
Passing from 5 digits to 4 digits price will make always people look crazy and think it is the end of the world and they should save themselves by selling even without a proper gain margin. There is also some people who bought bitcoin at +$13k and who lost any hope to get their back so selling just +$10k is better than nothing for them.
Personally I will keep holding until we will talk about satoshi/USD not bitcoin/USD  Cool

It's funny sometimes when I look at myself and continue to redefine for my brain what looks crazy. All I need to do is step outside of my Bitcoin circle and talk to my own partner (who works in traditional finance no less) to realise even the most subtle things I talk about seem completely ridiculous to her. I guess it's all relative, and the yardstick is in all sizes at the end of the day. Only one rule remains for me. I spread my risk. Not all in on crypto. And whatever I CAN afford to lose in it.
Meowth05
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Re: Need to be more cautious than ever
February 21, 2020, 08:55:11 AM
#38
Quote from: bitbunnny on February 18, 2020, 04:44:46 PM
Quote from: Wysi on February 18, 2020, 02:30:43 PM
Guys, It's time we need to be more cautious and avoid panic sell or massive buy we might see more of these market fluctuations which might be tempting as well as bothering. Please consider a broader picture before making any decision and consult with fellow peers rather than falling for a bull trap or panic sell, lets learn from our mistakes we made in the past.

Fluctuations are quite normal, I think that everyone has learned that so far. Buz I guess there are always some who fall under influence and make reckless decisions. Panic selling happens every time when price starts falling and despite all information about volatility, market and how whole crypto system is functioning but some will never learn or they just can't control their emotions and make decisions with cool head.
Very well said. No matter what we do we can't change the fact that people do still fall under this circumstances. Admit it to ourselves that even if we the persons who already have an experience in this community still fall for these panic selling. In crypto, it is tough to read the movement of the market thus we can only vaguely tell if it is the right time to sell or buy, it is hard to make decisions out from this kind of market, this requires an intense research for you to able to improve the outcome.
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Re: Need to be more cautious than ever
February 21, 2020, 08:25:14 AM
#37
Quote from: davis196 on February 21, 2020, 07:52:35 AM
Quote from: Wysi on February 18, 2020, 02:30:43 PM
Guys, It's time we need to be more cautious and avoid panic sell or massive buy we might see more of these market fluctuations which might be tempting as well as bothering. Please consider a broader picture before making any decision and consult with fellow peers rather than falling for a bull trap or panic sell, lets learn from our mistakes we made in the past.

Learn from our mistakes?Well,it's easier said than done.I consider myself a moderately experienced crypto trader and I sold 0.1 BTC at 7K USD 4 months ago.I guess I was defeated by the panic selling syndrome,because I was expecting the price to drop below 7K USD.Now I'm 1000% HODLing all my bitcoins until the summer.Consulting with "fellow peers" doesn't guarantee that I will make better trading decisions.
Let's hope that the price will be slightly above 12K USD after the BTC halving.
at this time if you still keep all the assets in the form of bitcoin with a very large amount then you can potentially get a lot of profit when halving that will happen in the next few months, do not miss the opportunity and still hold your assets do not be easily influenced by anything because there are many have been affected by bad news and so on and ended up losing money.
1Referee
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Re: Need to be more cautious than ever
February 21, 2020, 07:55:52 AM
#36
Quote from: eaLiTy on February 21, 2020, 07:22:25 AM
The only aspect i avoid in the BTCitcoin market is putting a stop loss as the market could recover in a moments time and then you end up in a heavy loss, this is a unique market where stop loss function has its own risk as the market recovers quickly as it went down and you wont get a chance to enter again during that period.

I think you need to choose different areas at which you place your stop loss then. I haven't run into problems myself where my stop losses are triggered easily. Not using a stop loss isn't a smart thing to do because proper risk management is key in any market, even when you think the market will recover.

Another important aspect of trading is that your opinion is meaningless in markets, all that matters is what the charts tell you, and that's what you should be focusing on. I have seen a lot of people trade their opinion and lose everything in a fairly short period of time.

I let my opinion get the better of me back in 2018 and I paid the price for it. The damage wasn't big, but still, it was a mistake I could have avoided easily by going with the charts instead of my overly bullish opinion. Lips sealed
davis196
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Re: Need to be more cautious than ever
February 21, 2020, 07:52:35 AM
#35
Quote from: Wysi on February 18, 2020, 02:30:43 PM
Guys, It's time we need to be more cautious and avoid panic sell or massive buy we might see more of these market fluctuations which might be tempting as well as bothering. Please consider a broader picture before making any decision and consult with fellow peers rather than falling for a bull trap or panic sell, lets learn from our mistakes we made in the past.

Learn from our mistakes?Well,it's easier said than done.I consider myself a moderately experienced crypto trader and I sold 0.1 BTC at 7K USD 4 months ago.I guess I was defeated by the panic selling syndrome,because I was expecting the price to drop below 7K USD.Now I'm 1000% HODLing all my bitcoins until the summer.Consulting with "fellow peers" doesn't guarantee that I will make better trading decisions.
Let's hope that the price will be slightly above 12K USD after the BTC halving.
Kelvinid
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Re: Need to be more cautious than ever
February 21, 2020, 07:41:05 AM
#34
We can't them either. Many holders become weak when they saw dumps in the market and immediately sell their coins. It happens several times and for sure it will happen again no matter how tried to give them advice and encouragement. Because in their mind, it is different from their thinkings and we can't actually hold them.

Letting them sell their Bitcoin is the only way to help them realize and find out that they are wrong about what they are doing. I know we don't want this thing to happen but that's the way it is and that's the sad reality.
Ailurophile
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Re: Need to be more cautious than ever
February 21, 2020, 07:34:22 AM
#33
This should be shown to the new traders.
They are the ones who are easily falls into panic when the market suddenly moves
They could also easily be a victim of FUD and FOMO because of lack of information.
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Re: Need to be more cautious than ever
February 21, 2020, 07:22:25 AM
#32
Quote from: jackg on February 18, 2020, 03:06:35 PM
An acceptable state, however buying whenever with well defined stop loss shouldn't cause any problems as long as you're happy with the sl and the losses you may make...
The only aspect i avoid in the BTCitcoin market is putting a stop loss as the market could recover in a moments time and then you end up in a heavy loss, this is a unique market where stop loss function has its own risk as the market recovers quickly as it went down and you wont get a chance to enter again during that period. The only concept i follow is to wait for the market to recover and the idea of halving and a rally is still eminent and with that confidence i would not risk the stop loss function. In any other scenario it is a great option.

stomachgrowls
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Re: Need to be more cautious than ever
February 21, 2020, 06:00:48 AM
#31
Quote from: Oasisman on February 21, 2020, 05:43:16 AM
Quote from: Wysi on February 18, 2020, 02:30:43 PM
Guys, It's time we need to be more cautious and avoid panic sell or massive buy we might see more of these market fluctuations which might be tempting as well as bothering. Please consider a broader picture before making any decision and consult with fellow peers rather than falling for a bull trap or panic sell, lets learn from our mistakes we made in the past.

Massive buying isn't a problem at all as long as you're comfortable with the purchasing price and patient enough to hold until target is reached. Even the experienced traders would be FOMOing sometimes, whenever there's a sign of a possible bull run.
Panic selling will always be a pain the a**. Quick sellers is either selling when the price is falling or when the price breaks the resistance level.
As you can see, decision making will always be a hard thing when you invest in crypto space.
Actually, trying to identify a bull trap or bear trap is the hardest thing here on this space.We know that technical analysis doesnt have higher precision yet volatility can easily break it up on a blink of an eye.

Fomo'ing and Panic selling is always been part of this market and even how veteran you are you would still experience this kind of decision making.It wont be that easy thats why profitability

will really be different on each trader/investor because all matters on how you do able to sell off on the exact time and buy up on the right time.
Oasisman
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Re: Need to be more cautious than ever
February 21, 2020, 05:43:16 AM
#30
Quote from: Wysi on February 18, 2020, 02:30:43 PM
Guys, It's time we need to be more cautious and avoid panic sell or massive buy we might see more of these market fluctuations which might be tempting as well as bothering. Please consider a broader picture before making any decision and consult with fellow peers rather than falling for a bull trap or panic sell, lets learn from our mistakes we made in the past.

Massive buying isn't a problem at all as long as you're comfortable with the purchasing price and patient enough to hold until target is reached. Even the experienced traders would be FOMOing sometimes, whenever there's a sign of a possible bull run.
Panic selling will always be a pain the a**. Quick sellers is either selling when the price is falling or when the price breaks the resistance level.
As you can see, decision making will always be a hard thing when you invest in crypto space.
minairia3
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Re: Need to be more cautious than ever
February 21, 2020, 02:52:42 AM
#29
Always remember the famous line. "Buy low sell high" most of the mistakes that have done by users are the fomoing when the market or the hype is kinda strong. Imagine the hype now that bitcoin will have its new ATH and even surpass the previous one after the block halving.

Quote from: sunsilk on February 18, 2020, 06:27:18 PM
We should be more concern with the newbies rather than ourselves. We know how to adjust and there is no way to stop buying whenever we are in the dip. It is a great strategy and others are missing it.

It is likely that the people who are panic selling are reducing now because we eventually got back to $10,100.
I didnt even move any position even though its below 10k now. I think its up to someone emotion to handle negative asset state but for some reason, I understand them if they will resort to panic selling. Newbie have the means to fear as their experience isnt as broad as the old timers.
Wysi
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Re: Need to be more cautious than ever
February 19, 2020, 12:20:39 PM
#28
Quote from: jackg on February 18, 2020, 03:06:35 PM
An acceptable state, however buying whenever with well defined stop loss shouldn't cause any problems as long as you're happy with the sl and the losses you may make...

Now may be a good time to start scalping or trading with smaller amounts though since we may be around this resistance for a while and we may even fall back and not accelerate through.

Yes agreed, if we have already planned about when to trade and what amount it would be, with a backup plan as well then we will not be risking but unfortunately most of the user still make the wrong more in FOMO or panic as either they go with huge buy orders or else sell orders ending up in wrong side I wish everyone follows the precious suggestion which has been provided by yourself as taking it from smaller amount will be a good choice.
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Re: Need to be more cautious than ever
February 19, 2020, 12:16:16 PM
#27
Honestly, this is such a right advice that I can feel it in my bones. I have been more scared of bitcoin recently than I ever was when it was around $3.5k and when it was around $7k, at those times I wasn't that scared because I knew that it went down as much as it can and that was the end of it, right now I feel like bitcoin could drop 30%+ and it wouldn't shock anyone at all, we are at a peak right now and not at a bottom which means that there is a huge chance it could drop off in price, when it hits bottom you know that there could potentially be a new bottom but that is a lesser risk than when its peaked and start to go down.

So right now, I am at the peak level of fear for bitcoin dropping at any moment which is why we should be more cautious than ever before in the past 2 years.
Ridwan Fauzi
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Re: Need to be more cautious than ever
February 19, 2020, 08:49:56 AM
#26
Everyone have their own prediction and they won't be same with your prediction. I mean, when they got profit then they will sell their asset, the won't take any risk to hold more. Buying and selling are common sense that will be happened, you have no right to force them.

That is the funniest thing when you says bull trap, how you say it when bitcoin pricr has traded on $9800-$10.000? And eth price has leaved $120 when this thing hasn't been happened. So, this is a bull run, maybe you just late to come to this place.
gweedo
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Re: Need to be more cautious than ever
February 19, 2020, 08:08:26 AM
#25
Investors are now much more mature. They no longer hold tokens and altcoins, they will be ready to sell them all if they receive 5-10% of the profits. And that is why it is very difficult for this market to grow as strongly as in 2017
snipie
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Re: Need to be more cautious than ever
February 19, 2020, 05:29:24 AM
#24
Quote from: Wysi on February 18, 2020, 02:30:43 PM
Guys, It's time we need to be more cautious and avoid panic sell or massive buy we might see more of these market fluctuations which might be tempting as well as bothering. Please consider a broader picture before making any decision and consult with fellow peers rather than falling for a bull trap or panic sell, lets learn from our mistakes we made in the past.
People will never learn nor listen.
Passing from 5 digits to 4 digits price will make always people look crazy and think it is the end of the world and they should save themselves by selling even without a proper gain margin. There is also some people who bought bitcoin at +$13k and who lost any hope to get their back so selling just +$10k is better than nothing for them.
Personally I will keep holding until we will talk about satoshi/USD not bitcoin/USD  Cool
ampere
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Re: Need to be more cautious than ever
February 19, 2020, 05:12:16 AM
#23
I think the most important adjectives is to be sure before investing,
If you know the worth of the product you invested in
No matter the the pressure or fud to sell. Your information will give u courage to hodl on to the green days
Dr.Osh
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Re: Need to be more cautious than ever
February 19, 2020, 03:51:56 AM
#22
You're right, for now, I am very considering my decision before I sell or buy crypto assets. however, it could backfire for me. Until now, I have not sold the assets that I have. I am of the opinion that the price of bitcoin will rise to be higher than now. so for now, I am not selling assets, but I am thinking of a fast way to collect crypto assets before halving.
Questat
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Re: Need to be more cautious than ever
February 19, 2020, 02:19:48 AM
#21
All the time we need to be cautious because the market until now is still being manipulated, the truth is only the smart investors will survive and make money in crypto but those who are weak and does not have enough knowledge, they'll easily make decision.

If they will not learn from their mistake, time will come they will leave the market will regret but for people who got matured here, they'll always see an opportunity in any market situation, bullish or bearish.
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Re: Need to be more cautious than ever
February 19, 2020, 02:17:14 AM
#20
Quote from: Wysi on February 18, 2020, 02:30:43 PM
Guys, It's time we need to be more cautious and avoid panic sell or massive buy we might see more of these market fluctuations which might be tempting as well as bothering. Please consider a broader picture before making any decision and consult with fellow peers rather than falling for a bull trap or panic sell, lets learn from our mistakes we made in the past.

Avoiding panic sell or panic buy will be necessary because if we lose control for ourselves, we cannot see what is behind what we see. Sometimes we can miss the right time or the good price to buy or sell because we are panic. The market fluctuations will always happen, but if we can stay calm from anything that happens in the market, we can see clearly, and we can make a decision on the current situations.'

Perhaps, with staying calm, we can see that the market is not moving lower, but it is increasing so high, so we can prepare for the next thing that will happen.
pooya87
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Re: Need to be more cautious than ever
February 19, 2020, 02:13:59 AM
#19
Quote from: Wysi on February 18, 2020, 02:30:43 PM
rather than falling for a bull trap or panic sell, lets learn from our mistakes we made in the past.

bull trap is when you are a bull (speculate the price is going to continue rising) and buy with the first sign of a rise but then price falls hard because the market w as in a bear mode. in short you can call it panic "buy" not panic sell.
panic sell is the bear trap which is opposite, you speculate price is going to continue falling (bear market) and sell but it recovers and goes a lot higher. we are currently in this state since we are in a bull market.
$crypto$
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Re: Need to be more cautious than ever
February 19, 2020, 01:45:11 AM
#18
That's what the panicked sellers do when the price is fluctuating, they always panic and careless on their own behavior so that they are trapped in the losses they experience when prices are down.
Looks like we have to be relaxed when facing market conditions like yesterday I think many are selling at the time of decline yesterday while those who know better they buy and return their profits I think we need to stay calm to face the surging market.
jhonjhon
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Re: Need to be more cautious than ever
February 19, 2020, 01:19:36 AM
#17
Quote from: Wysi on February 18, 2020, 02:30:43 PM
Guys, It's time we need to be more cautious and avoid panic sell or massive buy we might see more of these market fluctuations which might be tempting as well as bothering. Please consider a broader picture before making any decision and consult with fellow peers rather than falling for a bull trap or panic sell, lets learn from our mistakes we made in the past.

This should have been done ever since to avoid getting into a bull trap who you can't blame other people who fall for those unreliable speculations. As investor it is very important that we study how the market moves so that we will not have to depend our decisions from other people predictions and for us to ensure we are not going into a bull trap.
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Re: Need to be more cautious than ever
February 19, 2020, 12:43:36 AM
#16
Right.

I have been looking at my past posts. Literally way back.
While looking at it, it brought me back to what should be done.
Keep more bitcoins as much as we could.
Every satoshi will count. Oh! I could remember how difficult was it doing faucets and all just to earn 100k satoshis per day staying awake until the next morning.
If all of that was kept then I could have a lot by now. But because of panic and also those wannabe analysts that I believed in, I sold it all.

Now, it wont be the same case. It should not be.
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Re: Need to be more cautious than ever
February 18, 2020, 11:34:08 PM
#15
Thanks for reminding us but I am sure a lot of us have already learn in our past experience.
Maybe the newbies now are so happy with the price pump but for us, we are not so excited anymore as we have seen this many times in the past.

Let's just relax and do the right thing at the right time, sell when there's a profit and hold when price is still not reach.
Pretty simple, let our experience help us to decide and don't get fooled by our emotion anymore.
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Re: Need to be more cautious than ever
February 18, 2020, 09:59:48 PM
#14
Trader should really avoid panic buying or selling it is the first thing that a trader should avoid.
We should learn to control our emotion to lessen the risk of losing our money.
They should learn how to avoid FOMO and FUD they should learn to do their own research.
Stedsm
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Re: Need to be more cautious than ever
February 18, 2020, 06:48:03 PM
#13
Quote from: The Sceptical Chymist on February 18, 2020, 05:15:43 PM
--snip--

Quote from: Stedsm on February 18, 2020, 03:54:25 PM
- Even after watching your thread, many people can't control their emotions and so, they just go with the flow and get into the trade and they regret later
That's exactly what's going to happen, because usually people have to learn from their own mistakes and don't follow advice like OP gave.  If they did, there wouldn't be mistakes being made constantly.

While said that, we also can't deny the fact that if they'd learn by the mistakes, then nobody would lose and for some to win, someone has to lose - that's the main agenda of trading (I know you know better than me hehe). For the 5% of winning traders to win, 95% has to lose and those who don't understand the message behind OP's post are the ones who can't sit calmly and do whatever they can to just "ruin their capital and end up getting busted" - these are the ones who fit in the "95% losers" category because winners know their limitations as well as keep patience while noobs don't pay attention and they just regret after realizing that they've already lost everything.
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Re: Need to be more cautious than ever
February 18, 2020, 06:27:18 PM
#12
We should be more concern with the newbies rather than ourselves. We know how to adjust and there is no way to stop buying whenever we are in the dip. It is a great strategy and others are missing it.

It is likely that the people who are panic selling are reducing now because we eventually got back to $10,100.
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Re: Need to be more cautious than ever
February 18, 2020, 05:23:43 PM
#11
Quote from: The Sceptical Chymist on February 18, 2020, 05:15:43 PM
I think we're out of the panic-selling mode for the moment, as bitcoin is once again over $10k (wheee!) but this is where the FOMO might kick in again--and I hate that term, but it's an apt one for times like this.

Anyway, the market and the individuals that make it up are going to do what they're going to do and no amount of warning can prevent either bubbles from forming or the subsequent crashes. 

Quite interesting, so you think we're going to plateau (for a while) from here or see a pump upwards before any sort of sells start to happen? A possibility probably all to likely, it's like being back at 6k again or when we hit 10k last time and shot up to 14 before recorrecting.

Quote from: harizen on February 18, 2020, 04:29:49 PM
Isn't it basic already to do those things? For me, I will let them deal with what they think is right, for them to see the actual result of what they did, win or loss, regret or not, disappointment or not, etc.

Without those mistakes, people will never be used to it.
There's a lot of hype already in the space in a lot of places, so it's best to forewarn people before they go making the same mistakes that have been made by many in the past. Even experience traders can fall back into a trap of going after profits and risking it all rather than reevaluating where they are...
The Sceptical Chymist
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Re: Need to be more cautious than ever
February 18, 2020, 05:15:43 PM
#10
I think we're out of the panic-selling mode for the moment, as bitcoin is once again over $10k (wheee!) but this is where the FOMO might kick in again--and I hate that term, but it's an apt one for times like this.

Anyway, the market and the individuals that make it up are going to do what they're going to do and no amount of warning can prevent either bubbles from forming or the subsequent crashes.  It's good advice not to rely on emotion when you're trading, but unfortunately markets are always subject to irrational buying/selling, and that's what makes people not "careful".

Quote from: Stedsm on February 18, 2020, 03:54:25 PM
- Even after watching your thread, many people can't control their emotions and so, they just go with the flow and get into the trade and they regret later
That's exactly what's going to happen, because usually people have to learn from their own mistakes and don't follow advice like OP gave.  If they did, there wouldn't be mistakes being made constantly.
btc_angela
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Re: Need to be more cautious than ever
February 18, 2020, 04:57:23 PM
#9
Quote from: Wysi on February 18, 2020, 02:30:43 PM
Guys, It's time we need to be more cautious and avoid panic sell or massive buy we might see more of these market fluctuations which might be tempting as well as bothering. Please consider a broader picture before making any decision and consult with fellow peers rather than falling for a bull trap or panic sell, lets learn from our mistakes we made in the past.

We can't really do anything with the price fluctuations, after all bitcoin is a speculative asset. Some panic, sell their stash, others take this an opportunity to buy at a cheap price, so the cycle continues.

I don't know if we really need to consult with fellow peers as they might have a different perspective so not advisable. Of course you can listen to them, but it is still up to you to make that decision. So probably the best approach is just to hold for long term, just saying.
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Re: Need to be more cautious than ever
February 18, 2020, 04:44:46 PM
#8
Quote from: Wysi on February 18, 2020, 02:30:43 PM
Guys, It's time we need to be more cautious and avoid panic sell or massive buy we might see more of these market fluctuations which might be tempting as well as bothering. Please consider a broader picture before making any decision and consult with fellow peers rather than falling for a bull trap or panic sell, lets learn from our mistakes we made in the past.

Fluctuations are quite normal, I think that everyone has learned that so far. Buz I guess there are always some who fall under influence and make reckless decisions. Panic selling happens every time when price starts falling and despite all information about volatility, market and how whole crypto system is functioning but some will never learn or they just can't control their emotions and make decisions with cool head.
harizen
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Re: Need to be more cautious than ever
February 18, 2020, 04:29:49 PM
#7
Quote from: Wysi on February 18, 2020, 02:30:43 PM
Guys, It's time we need to be more cautious and avoid panic sell or massive buy we might see more of these market fluctuations which might be tempting as well as bothering. Please consider a broader picture before making any decision and consult with fellow peers rather than falling for a bull trap or panic sell, lets learn from our mistakes we made in the past.

Easier said than done. You will just realize what's the best thing to do "after" you execute something.

Isn't it basic already to do those things? For me, I will let them deal with what they think is right, for them to see the actual result of what they did, win or loss, regret or not, disappointment or not, etc.

Without those mistakes, people will never be used to it.

And take note, recent price movements can't be considered as having a bull run nor panic sell.
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Re: Need to be more cautious than ever
February 18, 2020, 04:27:48 PM
#6
BTFD. Always.
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Re: Need to be more cautious than ever
February 18, 2020, 04:26:08 PM
#5
Quote from: Wysi on February 18, 2020, 02:30:43 PM
Guys, It's time we need to be more cautious and avoid panic sell or massive buy we might see more of these market fluctuations which might be tempting as well as bothering. Please consider a broader picture before making any decision and consult with fellow peers rather than falling for a bull trap or panic sell, lets learn from our mistakes we made in the past.

Well it's good to see this kind of reminder thread, but I don't know if this can influence those sellers though.  Those who panic may really need to go to this kind of experience before they can learn and appreciate this kind of reminder from more experience traders.

Maybe we can add that in this kind of panic selling, it could also be a perfect time to BTFD for most of us here and take advantage of the situation.
Stedsm
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Re: Need to be more cautious than ever
February 18, 2020, 03:54:25 PM
#4
My take on this is as follows:
- You try to ask and convince people not to repeat those silly mistakes
- Too many threads, your thread gets ignored
- Even after watching your thread, many people can't control their emotions and so, they just go with the flow and get into the trade and they regret later and that's because their state of mind has been kept as it is and those who follow some trading channels will surely be willing to "become rich overnight" by following them and not you, you will be overlooked by them and your advice will be overruled.
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Re: Need to be more cautious than ever
February 18, 2020, 03:34:57 PM
#3
Quote from: Wysi on February 18, 2020, 02:30:43 PM
Guys, It's time we need to be more cautious and avoid panic sell or massive buy we might see more of these market fluctuations which might be tempting as well as bothering. Please consider a broader picture before making any decision and consult with fellow peers rather than falling for a bull trap or panic sell, lets learn from our mistakes we made in the past.

I agree with you, currently the market looks very volatile and there is continuous price fluctuations happening every day. So at this point of time rash decisions aren't best at all because most of the investment in crypto currency is done through speculations. So keep In mind before taking any decision.
jackg
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Re: Need to be more cautious than ever
February 18, 2020, 03:06:35 PM
#2
An acceptable state, however buying whenever with well defined stop loss shouldn't cause any problems as long as you're happy with the sl and the losses you may make...

Now may be a good time to start scalping or trading with smaller amounts though since we may be around this resistance for a while and we may even fall back and not accelerate through.
Wysi
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Re: Need to be more cautious than ever
February 18, 2020, 02:30:43 PM
#1
Guys, It's time we need to be more cautious and avoid panic sell or massive buy we might see more of these market fluctuations which might be tempting as well as bothering. Please consider a broader picture before making any decision and consult with fellow peers rather than falling for a bull trap or panic sell, lets learn from our mistakes we made in the past.
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