Share your Crypto experience. - page 3.

xSkylarx

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Quote from: KingsDen on December 10, 2022, 03:55:10 PM

Quote from: Rockstarguy on December 10, 2022, 09:26:00 AM

Quote from: gabbie2010 on December 08, 2022, 09:24:25 AM

I never allow my bad past experience in trading to deter me from quitting, I had mixed results so far and I am as well gaining more experience in trading in as much as losing a trade is inevitable especially on bad days while I made profits in other days I am working hard to have an edge over the market I will keep on trading because I knew there are better days and more opportunities ahead.

Bad experience, mistakes are things that prepare one for the future, sometimes mistakes helps us to learn fast. I don't think it is right for anyone to hold back to their mistakes. Mistakes should not be a reason why one would want to quit trading instead it should be a reason why people needs to learn more not to make the same mistake. In trading their is always lose and gain, at times we lose because of some mistakes we make in trading and at the same time the mistakes is the best teacher for correction.

Every trader has mixed results and it shouldn't deter any good trader to stop trading but what happens is that at a particular time you need to evaluate your number of losses and number of wins and see if you are making a good progress. If you are not making a progress you try to change your trading strategy and also change your management of finance.
There must be a place where you have to evaluate your strength and weaknesses, if your weaknesses are above your strength you need to break for a certain time and come back later with a good strategy and strength.

Before depositing money in a trading platform, you should first test your strategy. Checking your wins and losses isn't enough because you'll be losing this way; you should first test it in demo account or by looking at the coin's history. Also, always have a risk management plan in place to avoid burning your account, which is one of the most common problems in trading. Your trading strategy will improve over the time when you see the ups and downs in the market and you can now identify if your strategy will work on the current trend of the coin

KingsDen

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Quote from: _BlackStar on December 10, 2022, 04:18:27 PM

Quote from: KingsDen on December 10, 2022, 03:55:10 PM

.

The point is the evaluation of trading results, of course I think it is important to do. Evaluating is part of good financial management for a trader. They will know about how much profit and loss they have made so far, if it is profitable then the strategy can be maintained and if it is a loss then obviously they have to change their strategy.

About crypto experience especially trading I'm still very inexperienced given my leanings about investing over trading. I don't trade much so I don't have a particular strategy, but of course I know the right way to do it. Right now I don't like trading, but I never know if I will do it next time.

The idea of evaluation and self appraisal should not be underestimated by anyone. In whatever you do, as a trader or an investor, as a leader of an organisation or Head of an organisation, a manager of CEO. There should be a time you look back at where you started and get a clear picture of where you are heading to. Even if you understand that you are doing very well, there is still need for evaluation and have a brighter clue.

Even in this forum, there was when I was readily online and was intoxicated by the activities of the forum. But immediately I clocked 1 year in the forum. I evaluated my activities in the forum, I scored myself and decided to be on the moderate in order to last longer here.
That is the difference between a long time trader and an opportunist or a gambling trader.

_BlackStar

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Quote from: KingsDen on December 10, 2022, 03:55:10 PM

Every trader has mixed results and it shouldn't deter any good trader to stop trading but what happens is that at a particular time you need to evaluate your number of losses and number of wins and see if you are making a good progress. If you are not making a progress you try to change your trading strategy and also change your management of finance.
There must be a place where you have to evaluate your strength and weaknesses, if your weaknesses are above your strength you need to break for a certain time and come back later with a good strategy and strength.

The point is the evaluation of trading results, of course I think it is important to do. Evaluating is part of good financial management for a trader. They will know about how much profit and loss they have made so far, if it is profitable then the strategy can be maintained and if it is a loss then obviously they have to change their strategy.

About crypto experience especially trading I'm still very inexperienced given my leanings about investing over trading. I don't trade much so I don't have a particular strategy, but of course I know the right way to do it. Right now I don't like trading, but I never know if I will do it next time.

KingsDen

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Goodnight, o_e_l_e_o 🌹

Quote from: Rockstarguy on December 10, 2022, 09:26:00 AM

Quote from: gabbie2010 on December 08, 2022, 09:24:25 AM

I never allow my bad past experience in trading to deter me from quitting, I had mixed results so far and I am as well gaining more experience in trading in as much as losing a trade is inevitable especially on bad days while I made profits in other days I am working hard to have an edge over the market I will keep on trading because I knew there are better days and more opportunities ahead.

Bad experience, mistakes are things that prepare one for the future, sometimes mistakes helps us to learn fast. I don't think it is right for anyone to hold back to their mistakes. Mistakes should not be a reason why one would want to quit trading instead it should be a reason why people needs to learn more not to make the same mistake. In trading their is always lose and gain, at times we lose because of some mistakes we make in trading and at the same time the mistakes is the best teacher for correction.

Every trader has mixed results and it shouldn't deter any good trader to stop trading but what happens is that at a particular time you need to evaluate your number of losses and number of wins and see if you are making a good progress. If you are not making a progress you try to change your trading strategy and also change your management of finance.
There must be a place where you have to evaluate your strength and weaknesses, if your weaknesses are above your strength you need to break for a certain time and come back later with a good strategy and strength.

Rockstarguy

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Quote from: gabbie2010 on December 08, 2022, 09:24:25 AM

I never allow my bad past experience in trading to deter me from quitting, I had mixed results so far and I am as well gaining more experience in trading in as much as losing a trade is inevitable especially on bad days while I made profits in other days I am working hard to have an edge over the market I will keep on trading because I knew there are better days and more opportunities ahead.

Bad experience, mistakes are things that prepare one for the future, sometimes mistakes helps us to learn fast. I don't think it is right for anyone to hold back to their mistakes. Mistakes should not be a reason why one would want to quit trading instead it should be a reason why people needs to learn more not to make the same mistake. In trading their is always lose and gain, at times we lose because of some mistakes we make in trading and at the same time the mistakes is the best teacher for correction.

Silberman

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Quote from: JamesDaniel90 on December 08, 2022, 09:34:43 AM

Quote from: Swapin on December 08, 2022, 08:31:54 AM

1. If you plan to HODL long get a good portion of your portfolio off exchanges if you haven't already.

2. Enjoy the ride

90% of the crypto I own is now on my ledger.

I am coming up to 1 year in this crypto space and it has felt like a long year but at the same time has gone pretty quick!

Are we thinking another year before prices start to really shoot up again?

It is good to know the majority of your money is in a hardware wallet as we never know which exchange could collapse next, and unfortunately I really think that we are going to need to wait for another year of bad conditions before the market begins to experiment a decent recovery, now for some this wait is going to be too long and they will sell their coins during that time, however we must not imitate them, because by doing that they are basically making sure they will never become profitable investors in this market.

Dubaian

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I think investing in crypto should not lose patience as it definitely requires a fair amount of patience. Otherwise it is not possible to make any profit by investing. If you invest in the market now and hold it patiently for a long time, you will definitely be able to manage as a trader. Otherwise you need to have a plan to get rich in the future by investing and you need to acquire good knowledge as an investment. Only then can you make yourself a successful trader by investing in crypto.

JamesDaniel90

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Quote from: Swapin on December 08, 2022, 08:31:54 AM

1. If you plan to HODL long get a good portion of your portfolio off exchanges if you haven't already.

2. Enjoy the ride

90% of the crypto I own is now on my ledger.

I am coming up to 1 year in this crypto space and it has felt like a long year but at the same time has gone pretty quick!

Are we thinking another year before prices start to really shoot up again?

gabbie2010

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Quote from: sulendra12 on December 08, 2022, 12:07:39 AM

Quote from: ?? on ??

if you are a true investor then there is no word like Bad Year for Bitcoin or crypto because this may sounds bad this moment but not in the next coming days.

If you do love trading or cryptocurrency in general you shouldn't neglect the reality and forget the bad event or situation already happened in current day and the past, such as when it's on bad situation or bad market. Sure, like you said it could be better in the future but bad "day" or "year" does exist and instead of worrying about stuff, many people use it to buy more so it's still win to win for some traders.

I never allow my bad past experience in trading to deter me from quitting, I had mixed results so far and I am as well gaining more experience in trading in as much as losing a trade is inevitable especially on bad days while I made profits in other days I am working hard to have an edge over the market I will keep on trading because I knew there are better days and more opportunities ahead.
Meanwhile investors who bought at high price just like the OP will have to be patient and endure because historically and based on past records crypto market do experience a bullish runs which is the perfect time to sell though it might not last longer like the bearish run.

Swapin

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1. If you plan to HODL long get a good portion of your portfolio off exchanges if you haven't already.

2. Enjoy the ride

sulendra12

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Quote from: ?? on ??

if you are a true investor then there is no word like Bad Year for Bitcoin or crypto because this may sounds bad this moment but not in the next coming days.

If you do love trading or cryptocurrency in general you shouldn't neglect the reality and forget the bad event or situation already happened in current day and the past, such as when it's on bad situation or bad market. Sure, like you said it could be better in the future but bad "day" or "year" does exist and instead of worrying about stuff, many people use it to buy more so it's still win to win for some traders.

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Quote from: alik111 on November 27, 2022, 09:31:13 AM

Trading with analysis is a must needed. My experience about crypto trading is not so good at all. I lost a huge amount got liquidated in future trading. We need to make short trades according to the analysis chart. That will be a great experience of trading.

Futures trading is for very experienced traders. And if inexperienced traders go for futures trading it will be like playing with fire. After doing market analysis and many times futures trading may see opposite results.

As I have seen in my crypto market journey, the more people leveraged their capital, the faster they disappeared from the market. So first of all it is important to get proper knowledge of crypto market and try to get knowledge about money management as well.

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Quote from: Mpamaegbu on December 06, 2022, 05:34:38 AM

Quote from: JamesDaniel90 on November 21, 2022, 01:59:20 PM

I have now been investing in Crypto for 10 months and its been a test of patience thats for sure, feel like I have entered in a bad year with lots going on causing these bad times and low prices we are currently seeing.

Nope, you didn't come in a bad year. It's just that you got in too early. 10 months ago would be around Jan. Price was still high then compared to what it's at the present moment. However, now is a great time to get into cryptos when it seems the tokens have taken severe beatings and what remains is for them to start surging.

I would disagree with him to be fair, he started at the best possible year of all, I mean sure if he bought 10 years ago that would have been epic, but if he started a year before that, he would have bought at the top and then lose it all. In October 2021 we had the peak, if he bought anywhere there or before, he would have crashed.

So for the past 10 months, there is a drop but it is a steady drop and not from the peak, the peak was 13-14 months ago. That means anyone who started after that would be buying cheaper and if they hold it and sell later, they would be making a good return and could make a big profit when the time comes for them to sell at next ATH for example.

Silberman

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Quote from: blockman on December 04, 2022, 06:59:08 PM

Quote from: Bhig Daddy on December 04, 2022, 02:24:03 PM

The value of your possessions is declining, therefore you need to be patient. You are in a bad predicament as you enter the market. Even some new people who begin in the same position as you, I'm sure many end up losing.
if you keep at it and make an effort to properly plan the management of your investment assets. I have no doubt that the investment you make will pay off for you. The cryptocurrency market is not a place where you can quickly become wealthy and successful. To make it all work out, there is a lot to learn. I hope your patience pays off in full.

That's a fact, many end up losing because they didn't expect that the market would crash upon their entry. It's not their problem but that's just sad for them because that's sort of discouragement to them as they've entered the market freshly.
Great things are being built up with the worst things and that's the same goes in the market so if someone new loses the value of the coins you've chosen. Start from there and study if you've bought the right coins and then if not, you need to do a reassessment of what you think is going to be a great long-term hold.

This can be very discouraging but at the same time it was their decision to enter the market at that time and no one forced the to do something like this, because as we know when it comes to trading the markets your timing is critical, so those that enter the market right after an ATH or before a sudden crash caused by an event impossible to predict, like it is the case with the crash of the FTX exchange, have my sympathy but as long as they are patient they can recover the money they lost during the next bull run.

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Quote from: JamesDaniel90 on November 21, 2022, 01:59:20 PM

I have now been investing in Crypto for 10 months and its been a test of patience thats for sure, feel like I have entered in a bad year with lots going on causing these bad times and low prices we are currently seeing.

Nope, you didn't come in a bad year. It's just that you got in too early. 10 months ago would be around Jan. Price was still high then compared to what it's at the present moment. However, now is a great time to get into cryptos when it seems the tokens have taken severe beatings and what remains is for them to start surging.

Quote

My portfolio is currently 36% down And feel I have no choice but to hold till the next bull run which is hopefully only 12-18 months away. I will continue to DCA but in recent weeks I have slowed down having gone from investing every week to every 2 weeks as the prices just keep falling.

If what you're hodling is Bitcoin, you don't have to worry or panic. Just keep hodling. However, if otherwise you may want to consider mitigating your losses now by reviewing and discarding those without any use-case. Cut your loss short on them.

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Quote from: Bhig Daddy on December 04, 2022, 02:24:03 PM

The value of your possessions is declining, therefore you need to be patient. You are in a bad predicament as you enter the market. Even some new people who begin in the same position as you, I'm sure many end up losing.
if you keep at it and make an effort to properly plan the management of your investment assets. I have no doubt that the investment you make will pay off for you. The cryptocurrency market is not a place where you can quickly become wealthy and successful. To make it all work out, there is a lot to learn. I hope your patience pays off in full.

That's a fact, many end up losing because they didn't expect that the market would crash upon their entry. It's not their problem but that's just sad for them because that's sort of discouragement to them as they've entered the market freshly.
Great things are being built up with the worst things and that's the same goes in the market so if someone new loses the value of the coins you've chosen. Start from there and study if you've bought the right coins and then if not, you need to do a reassessment of what you think is going to be a great long-term hold.

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Quote from: rendravolt on November 28, 2022, 05:16:21 AM

In this thread, you don't really explain investing in bitcoin or altcoins. But if you invest in shitcoin of course it will be very difficult to recover. Usually they just follow the trend and can die at any time without having to see the market is bear or bull. Please note that good investments are only in bitcoin, ethereum and some of the top 10 coinmarketcap altcoins, other than that there will often be problems later on. If you are new for 10 months, I suggest to keep looking for experience, never stop and keep learning in crypto.

Unfortunately, there are a lot of shitcoins that are listed on CoinMarketCap and Coingecko daily. From my experience, I confirm that the new tokens have huge profits and are suitable for daily trading, but their investment is high risk. For a beginner trader, hunting for new promising projects will be difficult due to a lack of experience, so I fully agree that Bitcoin and Ethereum are among the best and safest investments. The top currencies are also good, but you need to constantly follow the movements and goals of their teams so that we do not become victims of another luna coin. Gaining experience may take a long time, and it may last for many years, but in the end, any beginner investor or trader will be able to choose the right time to buy and sell and do research that will enable him to determine the promising tokens that he will trade.

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The value of your possessions is declining, therefore you need to be patient. You are in a bad predicament as you enter the market. Even some new people who begin in the same position as you, I'm sure many end up losing.
if you keep at it and make an effort to properly plan the management of your investment assets. I have no doubt that the investment you make will pay off for you. The cryptocurrency market is not a place where you can quickly become wealthy and successful. To make it all work out, there is a lot to learn. I hope your patience pays off in full.

Cling18

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Quote

I am just wondering if those who have been involved with crypto for a few years at least could share their experience and offer any advice for those new like myself?

I honestly thought that I was going to lose all my invested funds the first time I invested in cryptocurrency a few years ago. It was challenging to watch the market crash and fall without having any idea about what happening or if it would still recover again. That was tough but things are different now. We now have an idea of how the market moves which is an advantage for new investors since they know the capability of the market. The bearish season is an open opportunity for everyone to buy and purchase potential coins and it isn't something to be feared of.

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Quote from: JamesDaniel90 on November 22, 2022, 06:42:04 AM

For those who have been in crypto since the last bear market are these low prices normal or something to be concerned about?

I will continue to DCA but with the last few weeks of bad news surrounding crypto I am more cautious now.

Investment or investing in cryptocurrency is dependable on your target, because i believe that every investor have target, and if you understand the rudiments of trading you will not be victim of the lose. Actually everyone who is into investment neither trading most be curious of investment of trading because of lose.

Topic: Share your Crypto experience. - page 3. (Read 1669 times)