Share your Crypto experience. - page 5.

traderethereum

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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.

But they won't get much profit if they don't learn much about crypto and only rely on other people to invest or make money.
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.

DanWalker

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Quote from: TheGreatPython on November 24, 2022, 01:01:49 AM

Cut loss is better for those traders but for the long term investors, they don't sell at a loss but they are buying more coins when the price is dumping. They know that they can make more money more than what they have spent.

What you say I will only partially agree, cut loss is always used in trading, that's not wrong but in investing sometimes we will have to use it too. It depends on which coin you invest in, never use cut loss if you are investing in bitcoin but with altcoins like Luna or FTX, or recently Solana. If they are in your portfolio, when something goes wrong, consider selling. The market is very bad, I think those who still have altcoins in their portfolio should think about using cut loss.

xSkylarx

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Quote from: harizen on November 25, 2022, 06:38:37 PM

There are still lots of challenges and tough days that you will encounter here in crypto. Your 10 months of experience is just a part of your big journey.

Regarding your mentioned strategy, actually, there is nothing wrong to stick with that since, after all, we don't know what will happen next.

Take this current market trend as a challenge to improve your strategy.

That is really a test for traders and investors. In this kind of trend, traders will adjust their strategy so that they can win a trade. Let's be adaptive to the trends of the market so that we can still earn a profit. Though the profit is small compared to the uptrend, it is still better than losing money. Try to make another strategy or strengthen your strategy now so that you can still win a trade, but if it is not worth the risk, let's just wait until the market is stable.

Xinarae*

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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.

TheUltraElite

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So anyway, I applied as a merit source :)

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?

If you got in at a price higher than average you would see losses when the bear market starts. But I would suggest you to hold on to the DCA for now completely and just wait it out in order to boost your confidence once the bull comes back. Another strategy could be to buy at the low and not DCA but sell at the high only.

My experience has been so far so good, considering I am a very cautious trader and I usually go with very broad ranges to buy or sell at, usually that means having a time period of at least 6months to buy/sell one cycle.

I suggest you hold your horses and have patience, the initial years of crypto road might be bumpy specially when a bear market is ongoing, but I have seen it go through the cycles more than once and I can say that people will lament once the market goes up because they forgot to buy at low and also complain when prices go down because they bought at the high.

GreatArkansas

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

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.
(....)

This is tough, this is normal to have losses, but make sure your losses will not affect your life, or let's say what money you invested will not affect your entire life even 100% of them will be lost. The famous quote comes here, "Invest what you afford to lose". This is one of many basics good action when investing, especially in cryptocurrency which is extremely volatile.

bhooscream

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I ma still holding GTN (Relictum Pro) because I missed selling at the rate that I wanted to. This is so bad because their listing rate is lower than the token sale. bad enough. ANd I have nothing to do with the coin right now, ly holding and expecting that the coin price will rise higher again.

This is not only for GTN but also for all new project tokens or coins. Never trust anything new because they commonly will only make promises but will lack proof for the promise itself.

Investment that is relaly worthy is only on Bitcoin,

NicNacCoin

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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

You must wait until the next pumping.Because you start investing without fully understanding your market.You bought everything here at high prices but held onto it hoping for more profit. Because now you are facing a lot of losses.Always remember one thing after buying something from the market if you have profit there later you should sell that thing.Then you never did what you should have bought when the market went down again.Currently the market is dumping a lot if you can wait long after buying from this market then surely you could own a lot of money.However, after that, remember to sell your investment if you get more profit.And wait for the next dumping. In case of dumping, you will reinvest from there.

Ultegra134

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I've been in cryptocurrencies since approximately 2014, with two major breaks in 2014 and 2018. My Bitcoin's value has plummeted over 60%, but you know what? I don't really care. On the contrary, I'm somewhat satisfied when its value drops because every time I get paid in Bitcoin, I receive a significantly larger amount of BTC. You're still early in the game, but the issue is that the media often portrayed cryptocurrency success stories in such a way that they looked like a get-rich-quick scheme. Trust me, they're not. You'll need a ton of patience to survive the bear market; I didn't in 2018. If I hadn't quit then, there's a great chance that I'd have a great deal of money now.

harizen

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There are still lots of challenges and tough days that you will encounter here in crypto. Your 10 months of experience is just a part of your big journey.

Regarding your mentioned strategy, actually, there is nothing wrong to stick with that since, after all, we don't know what will happen next.

Take this current market trend as a challenge to improve your strategy.

sulendra12

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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

What crypto are you talking about? 10 month is a rookie number especially of we are talking about investing or holding in crypto.

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

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.

Where do you get the news of that bull run?
Sure halving is just few month away, but it doesn't guarantee it brings the bull run since the whole price is still unpredictable.

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

I Will continueto 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.

Isn't the whole point of DCA you don't have to care with the price or am i missing something here? Because your regularly DCA activities will build and add up in the long run when the price is higher, if you are scared with price drops then this strategy might not for you.

molsewid

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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

My advice in this kind of market is, buy the news sell the rumors. I mean in times like this where market is getting deep people started to get panic selling people started to fud, that's where the market crashes. If all of these things happen, that is the perfect time to buy, or maybe if you know how to read charts then do some charting first. Your mental fortitude will always be tested here, a lot of people will advice you for technical things but for me? I'll advice you to learn the basics of psychology used in this kind of market.

KingsDen

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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

I don't actually know the type of coins you are investing in, this could mislead some people to give you some kind of general advice and you will apply it in the wrong coins and which may negatively affect your investment the more.

My advice is assuming that you are investing in Bitcoin, if I am right I have this to say to you ;
Investing weekly and because the price is going down the more you resorted to investing every two weeks, if the price goes down the more you will resort to investing monthly it is a bad move.
What you need to do is to know how much of your income or budget you want to invest in Bitcoin. Then continue with a steady dollar cost average investment, if there is any need to increase your Investments it is when the market dips. Stick to your investment plan and don't mind the market movements because we are already in the bottom region.
The worst can no longer happen we are all hoping for the best.

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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

10 months are pretty new for me though I don't think you entered on a bad year, It is a very good year to start investing! Your portfolio might on loss for about 36% but try to zoom out and be patient. There are many who invested during the bear market and I see that there are people who profited on that time but there are much more who are at a greater loss. In this current market scenario, It is the best to try and learn how cryptocurrency works. I strongly suggest to do DCA since it will take years before the true bull market comes. A great patience is the key for you to succeed.

bitgolden

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It's not easy to be in the crypto world for a long time. I have been here for a very very long time and I have started to reconsider about going out or not. Not because it’s not good, it's great and it's wonderful and I love working here, but personally I spend so much time here that I keep talking about it at all times. Last night my wife was literally mad at me for keep talking about crypto yet again, and she was just too much bored about it, imagine having a husband talking about crypto and you share nothing else? She has the right to be mad about it.

So, I did consider, but I do not know any other business, so running a new business would be very hard for me, I don't know how it’s done.

Nrcewker

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Sad to hear that you entered into crypto ecosystem too late. But I guess 10 months are not good at all to see profits specially during a bear market. Many people’s assets have been down more than 40%, so yes comparing their stats with yours, you have a better profit margin. Just don’t lose hope and wait patiently. Once the bull run starts, definitely you will see 3x profits. Be positive.

Peanutswar

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I start crypto since 2019 and I grab the chance to accumulate a lot of coin as possible to make sure there's a good profit during the ATH and I made it after that I learn to my self regarding with the technical analysis in trading So I know when is the right time to sell my assets and by that I become greedy and holding those with prior plan with the stop loss which is makes my portfolio not profitable after that I manage to make all plan with the things I do to make sure it's all recorded and make a move to deal with.

michellee

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There is no other way but to be patient to continue investing or you can decide to end your investment and wait for the market to improve again. If you decide to stop investing, you may miss the best moment to buy bitcoin at a low price because you are just waiting without doing anything. It's okay if your DCA slows down because the price keeps dropping. After all, you still have time to buy more bitcoins. You need to be able to hold onto the bitcoins you've bought and not be pushed into selling them just because they're falling in price. Everyone's portfolio has also decreased and it's not just you who are experiencing it but rest assured, this will all end well.

TheGreatPython

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Quote from: ajiz138 on November 23, 2022, 09:11:23 AM

I've been through a lot of experiences, especially since I've known bitcoin for almost 5 years, so whatever experience I've had, it can be said that it's like the ups and downs of water, sometimes we can survive when the market crashes or we even get out of the zone and sell all assets. because of the panic so it was a learning experience for me too.

It is very natural if your portfolio declines by a few percent because of the uncertain market situation even we see prices continue to be due to a lot of negative news that can affect it, one thing that many people can suggest is that surviving is better than cutlos with losses suffered we will definitely recover and that's great too you will continue with DCA rather than nothing, I followed the same strategy as DCA with the aim of lower prices being able to accumulate more at this time.

You are here for almost 5 years now so that means you started on the year of 2017. I think that was a great year. It wasn't too late or too early, it's just perfect in my own opinion. Water doesn't have ups and downs but water can only flow in one direction.

The better example to use is a roller coaster. It is normal to experience this because cryptos' prices are not stable but this is great actually because it allows us to buy and sell properly. Cut loss is better for those traders but for the long term investors, they don't sell at a loss but they are buying more coins when the price is dumping. They know that they can make more money more than what they have spent.

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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

The majority of people lack the patience to wait, but it is one of the key elements at this time after accumulation due to the bear, the majority portfolio being down simply because of the current market trend, everything will recover. And exploring the world of cryptocurrency I appreciate that you are prepared to hold even if your portfolio is down 36% because the market will soon recover. This experience will assist you to minimize your losses and possibly make money when the market recovers.

Topic: Share your Crypto experience. - page 5. (Read 1669 times)