Great advice for traders and investors in any spectrum of the market, though you should understand that mistakes are bound to happen. Even experienced investors and traders experience mistakes every once in a while. Though newbies or even players in the market that have low capital should not be discourage in making mistakes.
Instead to the following:
- Review your plans and see what worked and what failed.
- Always be ready for the worse possible scenario and have a plan for it.
- Search and analyze available data and history, as it will help you decide your next move and predict market movements.
- Join trusted groups and forums to learn more about different strategies and market signals.
Topic: The three biggest mistakes you should avoid - page 10. (Read 11305 times)
Not sure why you're being merited for stating investment 101.
How about providing some more in-depth knowledge on how to avoid getting into the shit in this current market, I'll go first.
1. Don't hold losing positions simply to avoid actualizing your losses. Instead, liquidate these positions and move into other more profitable ventures. Then, if you really believe in position 1, acquire a larger stake with your new found profits.
2. Avoid using unproven stablecoins like USDT. Although it is more convenient than others such as Circle and True USD, Tether have frequently been shown to be suspicious, and until they unequivocally prove they are not operating a fraction reserve, then Tether could collapse.
How about providing some more in-depth knowledge on how to avoid getting into the shit in this current market, I'll go first.
1. Don't hold losing positions simply to avoid actualizing your losses. Instead, liquidate these positions and move into other more profitable ventures. Then, if you really believe in position 1, acquire a larger stake with your new found profits.
2. Avoid using unproven stablecoins like USDT. Although it is more convenient than others such as Circle and True USD, Tether have frequently been shown to be suspicious, and until they unequivocally prove they are not operating a fraction reserve, then Tether could collapse.
some people think panic selling is not a big mistake, because they think not to accept lower prices. but if the hodl is longer, we know that the market will go up, but in the 2018 period, the increase is very slow. then the person who has sold when the price has not dropped, considers it to be the right step.
These are all good pointers and you can add to that HODL'ing as a worthwhile long term strategy just seek out the best value assets with good quality product offerings and the potential for increased demand as their ecosystem grows and be patient
Thanks very much for this as it is actually coming at the right time.
I have been a victim of trading based on signals without any assessment whatsoever. At the end of the day, I end up chasing green candles and end up getting dumped on.
We learn everyday, anyways
I have been a victim of trading based on signals without any assessment whatsoever. At the end of the day, I end up chasing green candles and end up getting dumped on.
We learn everyday, anyways
I think as a newbie, we definitely encounter mistakes and its just a normal thing, for me panic selling or panic buying is one of the most common newbies experiencing mistake, also participating on unsuccessful ico, and joining a scam projects.
Most traders do not understand the volatility factor in crypto markets yet, for me it is a good thing from a traders point of view but most of traders take it as high risk and some even think that trading it is not worth trading crypto market but i do not think it is correct.
Everyone's perception is different and this is a natural thing if the assessment of trading has a positive and positive side especially the risk in this job is quite large so it is only natural that there are many opinions about trading 
- Panic Buy/Panic sell.
In both cases, you will lose your money - Ignore Capital management.
If you ignore Capital management you will be gambler not trader - Following a signal Without risk assessment or stop loss.
You will be like Jumping into the ocean without a lifeline jacket at, before do anything, look at your risk and reward and what your stop level is.
by this way you can set Your Own risk and know what you do.
Good suggestions for a trader. Trading is all about buying in the right time and selling in the right. Selling might not be always in your hands but buying would always be. Be careful while buying and place the sell orders accordingly.
I agree on panic sell/buy sometimes emotions really affects.
This is a good advice but I think it fits best on trading discussion.
https://bitcointalk.org/index.php?board=8.0
This is a good advice but I think it fits best on trading discussion.
https://bitcointalk.org/index.php?board=8.0
By the way, cryptocurrency isn't all about exchanges/trading.
cryptocurrency need to us to educate our self by our self, we need to learn, if you do not know ask others by then you will never forget the information you learn.
altcoins are still following step by step and they still have difficulties to increase significantly, only a few coins that can do that.
My prediction that, Alts coin need time to grow, bitcoin dominance more than 59% whales still focusing in Bitcoin at the moment, alts will suffer and will take time to go in bull run.
Most traders do not understand the volatility factor in crypto markets yet, for me it is a good thing from a traders point of view but most of traders take it as high risk and some even think that trading it is not worth trading crypto market but i do not think it is correct.
it is a good point with these three remarks, from which i find second one most important, but you should also include analysis, never invest before you know in what you are investing, since that is not investing, it is gambling, and could be successful, but the quote for success is low
- Panic Buy/Panic sell.
In both cases, you will lose your money - Ignore Capital management.
If you ignore Capital management you will be gambler not trader - Following a signal Without risk assessment or stop loss.
You will be like Jumping into the ocean without a lifeline jacket at, before do anything, look at your risk and reward and what your stop level is.
by this way you can set Your Own risk and know what you do.
Yes we need to be a trader tather than gambler but how many of them are actually doing it.
Chances of lifeline jacket to save us when we jump into the sea is only 1% or even less.
All these mistakes can be made only by people who have no experience in trading. The person who is engaged in this business for a long time so will not be mistaken.
I think even the wise people in the crypto market can make huge mistakes and even if they make little mistake, they can lose considerable amount of money so it is something that is not only limited to newbies but also the experts. Of course someone who has been in the business for long would be able to avoid mistakes and would make money as a result. One learns along the course of trading. 
- Panic Buy/Panic sell.
In both cases, you will lose your money - Ignore Capital management.
If you ignore Capital management you will be gambler not trader - Following a signal Without risk assessment or stop loss.
You will be like Jumping into the ocean without a lifeline jacket at, before do anything, look at your risk and reward and what your stop level is.
by this way you can set Your Own risk and know what you do.
Panic sell is the number one mistake even for the investors who have been staying on the crypto market for long. Not to make it, you have to invest in the token you really trust, the alt which have the potential to gain later if it falls now.
- Panic Buy/Panic sell.
In both cases, you will lose your money - Ignore Capital management.
If you ignore Capital management you will be gambler not trader - Following a signal Without risk assessment or stop loss.
You will be like Jumping into the ocean without a lifeline jacket at, before do anything, look at your risk and reward and what your stop level is.
by this way you can set Your Own risk and know what you do.
I think, Mistake that always made by most crypto investor are panic buying or panic selling. When prices drop sharply, investors tend to be disturbed by psychology and panic selling to save the value of their portfolio.
Agree, mentality and strong psychology are needed in markets where price movements are very high. Smart investors must calculate and minimize all risks. Trading skills without strong mentality will make us lose too
Number three is something that I learned to do, following a signal Without risk assessment or stop loss. Investor should have known their risk when jump in and when to stop. But this is not so easy to learn and need time.
to determine the right time is not easy even though we know its growth because of seeing it.our carelessness can also make us fail, because trivial things can influence it, so we need to be careful in doing anything.
big mistakes usually start with small things but have a big impact.
3. Trusting random dudes from Youtube/Twitter/Telegram Group.
There are also some "random dudes" in this forum and we should be careful on encountering them. I saw one post in here that within 24 hrs he can double your bitcoins. It's an obvious scam so, we should not trust anybody that comes on our way. But the best thing to prevent doing mistakes is to research on that topic. By that, you can avoid being scammed by people. Not only from these random dudes but also in investing on cryptocurrency.
These are some mistakes you should never try.
- Never join a pump and dump group to buy a token/coin. It is very dangerous.. You can make %300 loss if you try it.
- try as much as possible not to buy a token/token when it's pumping. Learn to overlook. Buy low and sell high.
- Never invest or trade what you cannot afford to loose. (Most important)
- Never join a pump and dump group to buy a token/coin. It is very dangerous.. You can make %300 loss if you try it.
- try as much as possible not to buy a token/token when it's pumping. Learn to overlook. Buy low and sell high.
- Never invest or trade what you cannot afford to loose. (Most important)
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