Share your Crypto experience. - page 4.

xSkylarx

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Quote from: harizen on December 01, 2022, 06:15:51 PM

Quote from: jostorres on November 28, 2022, 01:44:11 PM

I've seen a lot of newbies who engage immediately in futures trading and then they come back here only to whine about their losses. Well, that was their fault. There is nothing we can do about it.

It's because most people, especially newbies, are smart and bright during the bull run. They think profiting is easy as 1,2,3. The same goes with Future Trading, once they successfully gained some profits during the first phase of their actual run, their mindset is, it's not that hard to gain profit in crypto.

And after the series of wins, consecutive losses take place which leads to frustrations, disappointment, and regrets.

It's good for me to see newbies struggling since that will be their foundation in becoming good traders in the future.

Consecutive losses filter out those newbies that don't want to continue; this is really the testing phase in which you'll see if your strategy in putting trades and your risk management are working well since no matter how good your strategy is without a proper risk-reward ratio, you'll still end up losing everything. Experience is a good foundation; losses mold you to be a better trader and also strengthen your strategy, with which you can win more trades. Mental health is also the key in trading; if you can control it, then you are good to go.

LastKiss

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Quote from: Lubang Bawah on November 28, 2022, 05:45:41 AM

Unfortunately when you enter the market continue to decline and until now there has been no sign to recover, I also experienced the same thing as you, I heard Bitcoin on the TV Talkshow in 2013, at that time the resource person told a success story because of mining bitcoin for a year and could be successful because A significant price surge at the end of 2013, then I was interested in investing around $ 500 in early 2014 and the price of dropped and I lost about 70% of money and this made me very sorry and there was no plan to return to Cryptocurrencies.

I guess you return once more to cryptocurrencies when you already know how the pattern of cryptocurrencies, well myself experience losing 90% on investing in crypto that is not in a top coinmarketcap but despite taking the loss I'm just going to stake all that remains, and hoping that crypto will back to new ATH when bull market started. It's really depressing that our investment goes down more than 50% in a short of time but if I have experienced that thing one time then the second time it won't affect my mental at all.

Silberman

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Quote from: harizen on December 01, 2022, 06:15:51 PM

Quote from: jostorres on November 28, 2022, 01:44:11 PM

I've seen a lot of newbies who engage immediately in futures trading and then they come back here only to whine about their losses. Well, that was their fault. There is nothing we can do about it.

It's because most people, especially newbies, are smart and bright during the bull run. They think profiting is easy as 1,2,3. The same goes with Future Trading, once they successfully gained some profits during the first phase of their actual run, their mindset is, it's not that hard to gain profit in crypto.

And after the series of wins, consecutive losses take place which leads to frustrations, disappointment, and regrets.

It's good for me to see newbies struggling since that will be their foundation in becoming good traders in the future.

This is a very deadly trap the market play on newbie traders, since most of them get interested in the market when it goes up, it is easy for them to think that making money is easy as the market is going up all the time, so they become careless and they believe such a thing can keep going forever, but we know the truth, the markets move in cycles and once the bull market is over a bear market follows, and that is when all the profits they had get erased in a matter of days and newbies fail to understand how something like this could have happened to them.

RockBell

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story becoming an experience Looking at what the OP said, most people are always looking for profit and do not consider studying or doing research, which is true, which is why you see many selling off everything or losing all of their money, some do not seek advice from experienced traders, looking at most traders once they have the fundamental knowledge of buying and selling they feel they do not need any other knowledge all they are after instead of understanding the steps in trading like understanding stop losses and take profit targets. few things to consider while you are interested in trading.
-exercising caution while dealing with con artists posing as support on social media.
-utilizing security tools like 2fa etc.
understanding technical analysis.
After observing the state of my portfolio due to the bear market, there is much more to discuss the fundamentals to know than just buying and selling, but what can be done is just to wait patiently for the rainy day when every holder will grin again.

harizen

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Quote from: jostorres on November 28, 2022, 01:44:11 PM

I've seen a lot of newbies who engage immediately in futures trading and then they come back here only to whine about their losses. Well, that was their fault. There is nothing we can do about it.

It's because most people, especially newbies, are smart and bright during the bull run. They think profiting is easy as 1,2,3. The same goes with Future Trading, once they successfully gained some profits during the first phase of their actual run, their mindset is, it's not that hard to gain profit in crypto.

And after the series of wins, consecutive losses take place which leads to frustrations, disappointment, and regrets.

It's good for me to see newbies struggling since that will be their foundation in becoming good traders in the future.

carlfebz2

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Quote from: Dubaian on November 30, 2022, 09:42:26 PM

Quote from: AnonBitCoiner on November 27, 2022, 09:08:39 AM

In few months experience cannot be built because in few months there is nothing to observe. Lots of people are experiencing losses and gain by investing major part of their cash into this field. I worked for longer period sometimes i think that i will certainly obtain benefit by such type of investment but later i observed that condition become unfavorable for me. losing and benefits cannot be observed and cannot be make certain as condition are unpredictable.

Some time investment does not make any profit but has to face more losses. It has been found that having good knowledge and understanding of training can be beneficial. If there is no idea in investing then it is never possible to succeed. It is better to invest in the coins that are especially good in the market. It is possible to profit from them mostly but if investing for a short period of time it is better to invest in good coins.

Everyone do starts on being a noob which everything you do tend to get involved with doesnt always end up on positive but rather on losses.Thing here is that you do make out those losses as your learning steps

for you to make yourself get improved.No one starts on being a pro which means that you do still have lots of rooms for improvement.Errors or mistake are really that common.
The thing here is that you shouldnt make yourself that easily give up if you are really that eager on learning up trading or investing here on cryptospace.

This would really be a smooth sail ride which means you would really be facing up lots of challenges and hardships but once you do able to get good grip of it
then you would really benefit from it for long term.

Dubaian

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Quote from: AnonBitCoiner on November 27, 2022, 09:08:39 AM

In few months experience cannot be built because in few months there is nothing to observe. Lots of people are experiencing losses and gain by investing major part of their cash into this field. I worked for longer period sometimes i think that i will certainly obtain benefit by such type of investment but later i observed that condition become unfavorable for me. losing and benefits cannot be observed and cannot be make certain as condition are unpredictable.

Some time investment does not make any profit but has to face more losses. It has been found that having good knowledge and understanding of training can be beneficial. If there is no idea in investing then it is never possible to succeed. It is better to invest in the coins that are especially good in the market. It is possible to profit from them mostly but if investing for a short period of time it is better to invest in good coins.

Silberman

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Quote from: jostorres on November 28, 2022, 01:44:11 PM

Quote from: QueenVera on November 28, 2022, 04:02:38 AM

With months you can get experience, with days and weeks you can get experience as well. Everybody's doesn't learn the same way so don't think everyone has to wait years before they gain the experience. With cryptocurency though it's advisable not to rush into anything as the market can always give you another opportunity to buy a particular coin.
My experience has been that, if you want to buy a particular coin, you should never buy all the coins at ones, always keep reserve money by the side as you can always buy a coin at a lower price.
All coins has their up days and down days so if a coin is currently priced high now, just wait on the market and you'll get that particular coin at a cheaper price.

But let's admit it, the longer you got involved on one thing, the better, so one must not think that they are already good at crypto even if they only learn it in a short period of time. I've seen a lot of newbies who engage immediately in futures trading and then they come back here only to whine about their losses. Well, that was their fault. There is nothing we can do about it.

Now about the strategy that you are saying, I think it was also called DCA or dollar cost averaging. That's popular but there are people who can't monitor the market often so they will just all in, leave and come back only after some time to see if they are earning or not.

I will admit that the behavior of those newbies bothers me a little, they come to the market and begin to trade using leverage, which is very risky, and when we warn them about it they simply ignore us, but once they lose their money they begin to complain about the market and how it was so unfair they lost their money, when I personally think the opposite, newbies losing their money while using leverage makes all the sense in the world, they simply decided to not believe us and they get to suffer the consequences of ignoring us.

jostorres

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Quote from: QueenVera on November 28, 2022, 04:02:38 AM

With months you can get experience, with days and weeks you can get experience as well. Everybody's doesn't learn the same way so don't think everyone has to wait years before they gain the experience. With cryptocurency though it's advisable not to rush into anything as the market can always give you another opportunity to buy a particular coin.
My experience has been that, if you want to buy a particular coin, you should never buy all the coins at ones, always keep reserve money by the side as you can always buy a coin at a lower price.
All coins has their up days and down days so if a coin is currently priced high now, just wait on the market and you'll get that particular coin at a cheaper price.

But let's admit it, the longer you got involved on one thing, the better, so one must not think that they are already good at crypto even if they only learn it in a short period of time. I've seen a lot of newbies who engage immediately in futures trading and then they come back here only to whine about their losses. Well, that was their fault. There is nothing we can do about it.

Now about the strategy that you are saying, I think it was also called DCA or dollar cost averaging. That's popular but there are people who can't monitor the market often so they will just all in, leave and come back only after some time to see if they are earning or not.

GeorgeJohn

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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.

What i want to make you to understand concerning trading of cryptocurrency, is that it needs more information and research, when you get updates from people you know that is master of trading and obtain knowledge of cryptocurrency from them. It will make you to understand the concept of cryptocurrency very well. So therefore i believe that cryptocurrency is trading is not easy and if precaution is not taken very well will be having a constant lose in trading. And that's while am telling you to know the rudiments of crypto trading before venturing into it.

Lubang Bawah

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Unfortunately when you enter the market continue to decline and until now there has been no sign to recover, I also experienced the same thing as you, I heard Bitcoin on the TV Talkshow in 2013, at that time the resource person told a success story because of mining bitcoin for a year and could be successful because A significant price surge at the end of 2013, then I was interested in investing around $ 500 in early 2014 and the price of dropped and I lost about 70% of money and this made me very sorry and there was no plan to return to Cryptocurrencies.

rendravolt

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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.

QueenVera

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Quote from: AnonBitCoiner on November 27, 2022, 09:08:39 AM

In few months experience cannot be built because in few months there is nothing to observe. Lots of people are experiencing losses and gain by investing major part of their cash into this field.

With months you can get experience, with days and weeks you can get experience as well. Everybody's doesn't learn the same way so don't think everyone has to wait years before they gain the experience. With cryptocurency though it's advisable not to rush into anything as the market can always give you another opportunity to buy a particular coin.
My experience has been that, if you want to buy a particular coin, you should never buy all the coins at ones, always keep reserve money by the side as you can always buy a coin at a lower price.
All coins has their up days and down days so if a coin is currently priced high now, just wait on the market and you'll get that particular coin at a cheaper price.

Silberman

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Quote from: virasisog on November 27, 2022, 10:27:16 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.

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.

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?

Thanks

I've been with the same situation a lot of times and I can relate to your struggles but one thing I've learned through years is to be patient and always trust the capability of the coins that you're holding. The market really has to go through this season as a part of its cycle and we can't avoid it but rather deal with it.
If you can look back to the previous years, you'll see how the market dropped down and recovered later on. So the best thing to do is to keep holding rather than checking all your losses all the time. That will only cause you a mental breakdown so be calm and have patience.

This is a good advice, when the market is down it can be very depressing to see the value of your holdings and how each day they do not move or when they do they do it downwards, so the best thing we can do is that once our coins are stored securely on a wallet we control then we simply forget about checking their price every single day, I still remember that when the bear market of 2018 happened I decided to only check my coins once a week and this helped me to remain sane during that time.

virasisog

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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.

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.

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?

Thanks

I've been with the same situation a lot of times and I can relate to your struggles but one thing I've learned through years is to be patient and always trust the capability of the coins that you're holding. The market really has to go through this season as a part of its cycle and we can't avoid it but rather deal with it.
If you can look back to the previous years, you'll see how the market dropped down and recovered later on. So the best thing to do is to keep holding rather than checking all your losses all the time. That will only cause you a mental breakdown so be calm and have patience.

alik111

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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.

AnonBitCoiner

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In few months experience cannot be built because in few months there is nothing to observe. Lots of people are experiencing losses and gain by investing major part of their cash into this field. I worked for longer period sometimes i think that i will certainly obtain benefit by such type of investment but later i observed that condition become unfavorable for me. losing and benefits cannot be observed and cannot be make certain as condition are unpredictable.

mich

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Well I will share a not good crypto experience I have had and that is being scammed. This news does not come as a complete shock because there's a lot of money in crypto and people will always find ways to steal valuables.

If you look at it from a historical perspective there have always been people doing scams, it's just now crypto has become so common in the populace that people are targeting it. I've been scammed before and I'd love to say it'll never happen again but it's just hard to say.

I think the key is doing everything you can do to be careful but there are circumstances that are out of our control. It really sucks when someone pulls one over on you but you have to get back on the horse and not let it sink you into despair.

There are so many good people out there, don't let some bad apples stop you from living your life to the fullest and still take some educated risks.

Myleschetty

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Quote from: Xinarae* on November 26, 2022, 02:29:09 AM

Crypto is the best option for next generation but cryptocurrencies in my experience, cryptocurrencies can change the lives of many people, but only if cryptocurrencies is done with the right guidelines. But without proper guidelines it is not possible to make a good amount of profit in cryptocurrency. But most of the people want to profit very quickly in cryptocurrency which should not be done in this case. Cryptocurrencies are mostly managed with long-term planning.

Cryptocurrency is an innovative setting and this makes it to be the best option for the generation but having the right guidelines can convincing and tricky either to newbies I think what's needed is the right knowledge.

Quote from: traderethereum on November 26, 2022, 07:57:09 AM

Investing in crypto is risky, and few can accept the risk behind it.
They hope to make a lot of profit in the short term, which is not always happening.
But if they can learn more about cryptos, they will see that investing in cryptos is a way to profit in the future.

Any investor that focuses much on profit before he makes an investment or has the needed knowledge has technically made a loss before he makes an investment.
Crypto (Bitcoin) is risky but the risk can be lowest if knowledge is involved.

Anguwa

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

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?

Thanks

Almost everyone here who trades cryptocurrencies has a story to tell. especially those who held onto their coins before the bear market and are currently unable to sell them due to the price collapse. I am a Kucoin user who enjoys holding KCS. I purchased my KCS at a price between $20 and 21 months ago because I thought there was potential in holding the coin until another halving before I sold. Regrettably, the bear market has made everything worse; I am afraid to look at my wallet because of how low it has fallen. At this point, the only option left is to hold the coin until it fully recovers, and I am even purchasing more.

Topic: Share your Crypto experience. - page 4. (Read 1669 times)