Some Errors We Make In Trading Crypto - page 4.

LastKiss

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Quote from: Fivestar4everMVP on April 11, 2022, 06:45:34 AM

~snip~

Going all in- it a very bad habit, never ever put all your eggs in one basket. ^{it's a popular saying.}
Crypto is not a get-rich-quick scheme
Purchasing a coin mainly because it's price is low
Being a victim to scam/con artists
Using other people's market signal to trade-
Making use of exchanges with high transaction/withdrawal fees -

The list above is derived solely from my own personal observations and experiences, feel free do add yours.

It's 100% agreed by me, many things we will face that make us not get profit but instead lose our capital. Choosing the right exchange or trusted exchange is included because we should know that when we trade in an exchange there's a guarantee our funds are safe and covered by the exchange itself in the case when the exchange got hacked.

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Quote from: Pamadar on May 06, 2022, 05:41:01 AM

Quote from: jossiel on May 06, 2022, 05:27:25 AM

It's like they don't trust those words that I've told them. But yes, it's about the lesson that they've gained and they went through the situation that I've been in as well.

That's why I've talked to them when they've asked about crypto so that they can avoid that experience I've got. Well, they chose to experience it and they're good right now.

And we're still taking on how things are working with the market and mostly when it's on the bloody days.

Hard learning as it is, those kinds of people will only realize that the market is not an easy venue to earn money.

It's true that if your friend learns something and takes that as a one step forward, they will be able to manifest ideas on how
they can probably earn the right way.

But, if they will not do anything to do better, the chance is just to repeat that same mistake and will continue to lose
more money, it's an own decision that will give opportunities to those who really seek for the betterment of success.

At last, they've learned that it is the reality in the market.

They're able to experience it and it has validated their own thoughts that it's not an easy going market. Just as the other businesses and investments.

There's the same risk that it has and that's why it's profitable because it has a higher risk that they should also go.

Pamadar

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Quote from: jossiel on May 06, 2022, 05:27:25 AM

It's like they don't trust those words that I've told them. But yes, it's about the lesson that they've gained and they went through the situation that I've been in as well.

That's why I've talked to them when they've asked about crypto so that they can avoid that experience I've got. Well, they chose to experience it and they're good right now.

And we're still taking on how things are working with the market and mostly when it's on the bloody days.

Hard learning as it is, those kinds of people will only realize that the market is not an easy venue to earn money.

It's true that if your friend learns something and takes that as a one step forward, they will be able to manifest ideas on how
they can probably earn the right way.

But, if they will not do anything to do better, the chance is just to repeat that same mistake and will continue to lose
more money, it's an own decision that will give opportunities to those who really seek for the betterment of success.

jossiel

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Quote from: judaspriest on May 06, 2022, 05:17:50 AM

Quote from: jossiel on May 06, 2022, 04:25:53 AM

Yes.

Many were truly misled.

I've been there and have talked to several of my friends and thought that it's easy money if they get into crypto. I've told them like that and frankly said that it's not easy as they think.

Well, they got in without my knowing and they didn't inform me that they've bought shitcoins during the peak. They only talked to me when they've already incurring losses.

Regardless of whatever happens to your friend I think such an experience is good for your friend,
it seems like it sounds heartless but if they learn from those mistakes I think they will grow,
what is clear is that it is very important to have prior preparation regarding knowledge and skills so as not to make the wrong decision

It's like they don't trust those words that I've told them. But yes, it's about the lesson that they've gained and they went through the situation that I've been in as well.

That's why I've talked to them when they've asked about crypto so that they can avoid that experience I've got. Well, they chose to experience it and they're good right now.

And we're still taking on how things are working with the market and mostly when it's on the bloody days.

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C O M B O

Quote from: jossiel on May 06, 2022, 04:25:53 AM

Quote from: DoublerHunter on May 05, 2022, 06:59:22 PM

Quote from: jossiel on May 05, 2022, 05:49:35 PM

Quote from: Mate2237 on May 05, 2022, 02:06:54 PM

most newbies are tricked into joining the trading scheme with the promise of the lucrative nature of Bitcoin. So the truth about Bitcoin investment as a not get rich quick scheme will help . And what you did is commendable.

That's the first impression of newbies when they see a successful person who's into crypto. They don't even wanna know if that person is an investor or just simply trading.
~snip~

^ Through this impression or belief many newbies have been misleading and thought that there is an easy way of making money in trading, they thought that it is a quick scheme that will give you a benefit even if lack knowledge of it. But that is not their burden, they keep learning and those mistakes make them stronger. Sad to say they need to lose huge money before they will learn how crypto space work either investment or that is trading that aims the same face, making a profit. I hope many newbies will comply with knowledge first before doing this because this is not easy money-making, it also consumes your time studying a lot of techniques.

Yes.

Many were truly misled.

I've been there and have talked to several of my friends and thought that it's easy money if they get into crypto. I've told them like that and frankly said that it's not easy as they think.

Well, they got in without my knowing and they didn't inform me that they've bought shitcoins during the peak. They only talked to me when they've already incurring losses.

Regardless of whatever happens to your friend I think such an experience is good for your friend,
it seems like it sounds heartless but if they learn from those mistakes I think they will grow,
what is clear is that it is very important to have prior preparation regarding knowledge and skills so as not to make the wrong decision

jossiel

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Quote from: DoublerHunter on May 05, 2022, 06:59:22 PM

Quote from: jossiel on May 05, 2022, 05:49:35 PM

Quote from: Mate2237 on May 05, 2022, 02:06:54 PM

most newbies are tricked into joining the trading scheme with the promise of the lucrative nature of Bitcoin. So the truth about Bitcoin investment as a not get rich quick scheme will help . And what you did is commendable.

That's the first impression of newbies when they see a successful person who's into crypto. They don't even wanna know if that person is an investor or just simply trading.
~snip~

^ Through this impression or belief many newbies have been misleading and thought that there is an easy way of making money in trading, they thought that it is a quick scheme that will give you a benefit even if lack knowledge of it. But that is not their burden, they keep learning and those mistakes make them stronger. Sad to say they need to lose huge money before they will learn how crypto space work either investment or that is trading that aims the same face, making a profit. I hope many newbies will comply with knowledge first before doing this because this is not easy money-making, it also consumes your time studying a lot of techniques.

Yes.

Many were truly misled.

I've been there and have talked to several of my friends and thought that it's easy money if they get into crypto. I've told them like that and frankly said that it's not easy as they think.

Well, they got in without my knowing and they didn't inform me that they've bought shitcoins during the peak. They only talked to me when they've already incurring losses.

stomachgrowls

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Quote from: DoublerHunter on May 05, 2022, 06:59:22 PM

Quote from: jossiel on May 05, 2022, 05:49:35 PM

Quote from: Mate2237 on May 05, 2022, 02:06:54 PM

most newbies are tricked into joining the trading scheme with the promise of the lucrative nature of Bitcoin. So the truth about Bitcoin investment as a not get rich quick scheme will help . And what you did is commendable.

That's the first impression of newbies when they see a successful person who's into crypto. They don't even wanna know if that person is an investor or just simply trading.
~snip~

^ Through this impression or belief many newbies have been misleading and thought that there is an easy way of making money in trading, they thought that it is a quick scheme that will give you a benefit even if lack knowledge of it. But that is not their burden, they keep learning and those mistakes make them stronger. Sad to say they need to lose huge money before they will learn how crypto space work either investment or that is trading that aims the same face, making a profit. I hope many newbies will comply with knowledge first before doing this because this is not easy money-making, it also consumes your time studying a lot of techniques.

Wrong beliefs like;

1. Trading is easy
2. Money or profit making is easy
3. Not that too hard or technical
4. They can handle themselves well in terms of risk and emotion

Once you do step your foot or experience the real thing then you would be finding out that you
are really in trouble.

DoublerHunter

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Quote from: jossiel on May 05, 2022, 05:49:35 PM

Quote from: Mate2237 on May 05, 2022, 02:06:54 PM

most newbies are tricked into joining the trading scheme with the promise of the lucrative nature of Bitcoin. So the truth about Bitcoin investment as a not get rich quick scheme will help . And what you did is commendable.

That's the first impression of newbies when they see a successful person who's into crypto. They don't even wanna know if that person is an investor or just simply trading.
~snip~

^ Through this impression or belief many newbies have been misleading and thought that there is an easy way of making money in trading, they thought that it is a quick scheme that will give you a benefit even if lack knowledge of it. But that is not their burden, they keep learning and those mistakes make them stronger. Sad to say they need to lose huge money before they will learn how crypto space work either investment or that is trading that aims the same face, making a profit. I hope many newbies will comply with knowledge first before doing this because this is not easy money-making, it also consumes your time studying a lot of techniques.

jossiel

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Quote from: Mate2237 on May 05, 2022, 02:06:54 PM

most newbies are tricked into joining the trading scheme with the promise of the lucrative nature of Bitcoin. So the truth about Bitcoin investment as a not get rich quick scheme will help . And what you did is commendable.

That's the first impression of newbies when they see a successful person who's into crypto. They don't even wanna know if that person is an investor or just simply trading.

And even they know if that person is an investor and consistently accumulating and doing the DCA strategy, they're not going to recognize it. Because one thing is on their mind, "that person became rich because of crypto". So everything they does will come to stick into their minds and will also try it even they have no background.

When they fail, they'll come to realize that it's not an overnight success.

BuNga_cute

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Quote from: CaVO32 on May 05, 2022, 04:51:36 PM

Quote from: Oilacris on May 05, 2022, 04:43:53 PM

Crypto is not a get-rich-quick scheme-

When you are a noob then this would be the main or primary thing that you would really be thinking off about being a get rich quick scheme on to this market
specially when we are still new or first encounter on this market.

If you arent that mindful about making use of your own common sense then you would really be ending up on lots of problems ahead
but somewhat it would make you learn at the same time.

These noobs will learn their lessons fast once they got screwed their hard-earned money. Somewhere, they will learn their lessons. Because some won't read the pieces of advise given because they thought they can handle the situation. Come to find out that this is not a walk in the park. But once they got their lessons, they for sure will be cautious the next time around. So we don't need to shove what needs to be learned because it is much better if they will learn it on their own.

Sometimes our bad experience when trading crypto becomes the most valuable lesson that will not be forgotten and make us better.
It's true for some people sometimes they are too selfish and too confident when trading, that's what caused them to end up at a loss.
But not everyone when they experience a loss can get up, I even found a few people who were traumatized to trade crypto after experiencing
huge losses. It all depends on each of us how to deal with the mistakes we make when trading crypto. Should suffer losses due to our wrong
decisions when trading crypto is not the end of everything, we must be able to see the positive side of every failure that we experience.
Even all successful traders have experienced losses, they can be successful because they learn from every mistake they make. So don't give up
if we make mistakes and result in losses, correct every mistake we make, then success will come naturally.

CaVO32

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Quote from: Oilacris on May 05, 2022, 04:43:53 PM

Crypto is not a get-rich-quick scheme-

When you are a noob then this would be the main or primary thing that you would really be thinking off about being a get rich quick scheme on to this market
specially when we are still new or first encounter on this market.

If you arent that mindful about making use of your own common sense then you would really be ending up on lots of problems ahead
but somewhat it would make you learn at the same time.

These noobs will learn their lessons fast once they got screwed their hard-earned money. Somewhere, they will learn their lessons. Because some won't read the pieces of advise given because they thought they can handle the situation. Come to find out that this is not a walk in the park. But once they got their lessons, they for sure will be cautious the next time around. So we don't need to shove what needs to be learned because it is much better if they will learn it on their own.

Oilacris

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Crypto is not a get-rich-quick scheme-

When you are a noob then this would be the main or primary thing that you would really be thinking off about being a get rich quick scheme on to this market
specially when we are still new or first encounter on this market.

If you arent that mindful about making use of your own common sense then you would really be ending up on lots of problems ahead
but somewhat it would make you learn at the same time.

Mate2237

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Your second point is essential but, most newbies are tricked into joining the trading scheme with the promise of the lucrative nature of Bitcoin. So the truth about Bitcoin investment as a not get rich quick scheme will help . And what you did is commendable.

Luzin

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Quote from: Mpamaegbu on May 03, 2022, 05:35:52 AM

There have been several instances like that and it hurts to know that one could've made a kill out of it but missed because one wanted to observe the not putting all eggs in one basket thing. How would you feel if a token you saw at $2+ and you only threw $20+ at it. A few months later that same token went up as high as $370+.

Good idea, but it takes a belief for it. People who have asset management will certainly consider many aspects. I think many people would prefer to use part or part of their assets to buy. Because they don't want big losses. But it should be balanced by the feeling of the consequences of his choice if the one he chooses goes up so great. Too bad many people don't have that feeling. In contrast to people who were purely speculating perhaps he would even be bolder.

Mpamaegbu

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Quote from: Fivestar4everMVP on April 11, 2022, 06:45:34 AM

Going all in- it a very bad habit, never ever put all your eggs in one basket. ^{it's a popular saying.}

To be sincere with you, there are times I regretted not going all in. Those were times when tokens I invested low did extremely well. There have been several instances like that and it hurts to know that one could've made a kill out of it but missed because one wanted to observe the not putting all eggs in one basket thing. How would you feel if a token you saw at $2+ and you only threw $20+ at it. A few months later that same token went up as high as $370+. That is my story with CiFi. So, sometimes it's good to break out of the box and stereotype. Do the unthinkable sometimes but make sure you don't get deeply hurt if it goes awry.

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Quote from: strunberg on April 30, 2022, 03:15:34 PM

Quote from: Alisha-k on April 30, 2022, 12:25:48 PM

It is disheartening that scam projects are everywhere at the moment. To avoid making careless mistakes research is the anidote to mistakes. Investing outside research is a poor investment strategy. No good project is known outside research. It's greed that makes one pick up projects blindly

it is gambling if we pick any coins meanwhile we didnt research on it first. at that moment maybe alot influencer shill coins and we trapped on it. our effort in analizing coins must improve well to find good project that will occur in market. research and observation be the key our successfull.

That's true and automatically the risk is also greater because after all doing research is important at least to minimize the risk,
indeed it takes time and effort and we should really take the time for it,
It seems that nowadays more and more people are aware of the importance of doing research

lablab03

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I have a lot of errors to be honest and that is because of panicking when placing order especially stop loss that always common reason of being stop out.
And mostly my errors are on altcoins because they're too fast especially if there's a break out and bulish candles because it's to hard to catch that sometimes i didn't notice, especially when it comes swing trading that it's already the end of the progress and time to reverse. Haha

so98nn

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Quote from: Benefactor on April 27, 2022, 09:50:59 AM

This is the very same stunt that different questionable trades use, they draw beginners by saying that they have commissions that are a lot of lower than those of huge trades. We generally to realize that no one knows where the market will move to in the following candle hour so having this on a basic level will let you know you need to figure out the exchange yourself.

No man, it does not really work in that sense. I agree crypto market is drastically volatile and unpredictable but it’s not impossible to workout the math behind it. This is why we have technical analysis support. Moreover, these days fundamentals are also influencing it a lot. Whether it’s war donations, school to college fees acceptance or some country accepting it as legal tender or Elon musk buying Twitter anything can literally change the course of bitcoin these days.
It’s needed to study in all the senses.

wxa7115

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Quote from: Woodie on April 24, 2022, 04:14:15 PM

Sometimes I think lack of research into these crypto projects is another mistake we make , imagine wanting to trade bitcoin but because there are several bitcoin forked coins out there you buy the wrong coin to trade because one of them offers more coins for the dollar but unfortunately you in for the wrong coin.

The other number one mistake or rather weakness is trading with emotions which costs us a great deal, if we can overcome this then ones trading journey can improve.

Another quite common mistake is to underestimate the markets, and I think most of the other mistakes come from that one.

After all many newbies think that making money in the markets is as simple as buying low and selling high, however they do not see what goes behind closed doors for traders to be able to do something like that, so they come to the market thinking about all the easy money they are going to make only to be surprised by the high level of difficulty thy are facing.

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Quote from: Alisha-k on April 30, 2022, 12:25:48 PM

It is disheartening that scam projects are everywhere at the moment. To avoid making careless mistakes research is the anidote to mistakes. Investing outside research is a poor investment strategy. No good project is known outside research. It's greed that makes one pick up projects blindly

it is gambling if we pick any coins meanwhile we didnt research on it first. at that moment maybe alot influencer shill coins and we trapped on it. our effort in analizing coins must improve well to find good project that will occur in market. research and observation be the key our successfull.

Topic: Some Errors We Make In Trading Crypto - page 4. (Read 1359 times)