Topic: Please help a newbie who do A LOT of mistakes - page 5. (Read 691 times)

Dude, it's the only beginning. You earn a lot of experience with your mistakes. To make your decisions more deliberate you need to study trading. It's a serious thing that requires a lot of effort. Try to find an experienced and succeed guy who will teach you.

You have to stop checking prices every second, otherwise you will go crazy. Read up, buy some coins which appear to be logical buys, and just HOLD. Do nothing, don't try to day trade, don't try to outsmart the market. Never panic buy and never panic sell. Up until now, every major coin has bounced back from drops, so unless you have invested in absolutely useless coins (which, based on your portfolio, you haven't), just be patient and don't panic, even if your numbers are red right now.

Your biggest mistake is trying to outsmart the market. You never will. Just be patient. Just buy and hold. Do not be buying and selling your crypto. Back in Aug I bought $1000 work of crypto. A week later there was a big altcoin dump that i ended up with $400 value. I didnt sell anything, i hodled. Today that same portfolio has grown 5x. When you buy crypto, dont buy with money you will need next month. Buy it with money you are willing t lock it long term. Right now all coins are more likely to give you profits, including BCH. Stop having weak hand.

If you want to have a reliable long term portfolio, you should treat it "long-term":
- Choose wisely.
- Ignore short-term loss.
- Read news but don’t follow the herd.
- Don’t be greedy, take profit and set stop loss limit.

The biggest mistake new people make is buying the top and selling lower. You need to buy when prices are red, don't chase the pumps, it might work out for you once or twice but in the long run you will get burnt by doing so. And also spend the time researching coins. The biggest profits are in those coins that most people have never heard about YET.

Hello,

Fist post here from a big newbie who started crypto at the end of December and only do mistake after mistake.

Mistake #1, I bought €400 of BCH at 3418$ during the CB "hack" back in December, hold till then. This was a extraordinary non sense action.

Mistake #2, yesterday I PANIC sold all my 253 XRP that I purchased at high prices such as €1.9 €2.1, 2.6€ for €552 (profit about €50) during the drop and CB ending the fake speculations. I was better to just go sleep, it already recovered a bit and I guess it will go higher in long therm.

Current portfolio at time of writing:
- 0.4 XMR at €305 (about €100 green)
- 7.6 EOS at €7 (about €100 green) 
- 0.15 BCH at 3418$  and 0.035 at €2286 (about €360 red)
- 30 XRP  at €2.45 (about €70 red)
- Available funds on account: €930.

After all, I am starting thinking that crypto isn't for me, I don't have the hindsight, the psycho neither the nerve to do it correctly and hold for long therm.  Some people tell me to buy again XRP. Other people tell me to only buy BCH and XMR which have use cases, all the other money are just good to purchase Pokemon cards, they are so many ALT and at the end only MS, Google and Apple will stay... Here on this forum, the users seems to have a divided opinion on XRP. I also read about Waves, NEO, ETP, ENG.. Now I see that bitcoin bounce and seem to affect a lot of things. As a very bad newbie I have a hard time to forge my own opinion and stay on my positions. 

I am not sure if this is a legitimate request: I am looking into advise to make a long therm portfolio with the remaining of my funds to possibly recover from my mess and stay a bit more relaxed. Note: I know that this money could be potentially lost in any case as there is always a risk.

Thanks,