Topic: The three biggest mistakes you should avoid - page 6. (Read 11298 times)
These are actually most of the core trading lessons I got from a mentor. Patience is very very key and underestimated. One you have done a full research and picked your coin, set your targets and be patient on them to realise and do not bulk to market pressure. It is one of the hallmarks of a good trader
1.Taking signal from friends.(99% of their signal are wrong)
2.Not having self confidence.(Always hesitate about what you're doing)
3.Thinking that you will get enough money to become rich easily
2.Not having self confidence.(Always hesitate about what you're doing)
3.Thinking that you will get enough money to become rich easily
Those are really true and happening to most of us. Friends can always give their speculations but you should follow your own instincts. So if in case something goes wrong, you will blame only yourself and not other people.
Greed is human nature so we always aim to get rich as soon as possible but we need to do a reality check once in a while. Accept the fact that we can't get what we want in a very short period of time. 
1.Taking signal from friends.(99% of their signal are wrong)
2.Not having self confidence.(Always hesitate about what you're doing)
3.Thinking that you will get enough money to become rich easily
2.Not having self confidence.(Always hesitate about what you're doing)
3.Thinking that you will get enough money to become rich easily
- 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.
Trading requires a lot of personal management skills which involve discipline, patience, loss of greed and perseverance. These combine up to make up the attributes of a good trader. And its essential that anyone getting into training should have one or more of these qualities
Thanks for sharing this and hope many will see and learn because this is true of trading. When on fails to follow the adequate way to trader the person will only end up gambling with his funds which isn't good in any way. Its better to start trading with all needed knowledge so as to be safe.
my biggest mistake is.
1. I am too ambitious when investing because seeking greater profits ultimately suffers considerable losses.
2. install the application from an unclear source so that some of the assets I have become lost. .
3. using capital from borrowing from a friend or bank. so that made me become burdened. finally I was forced to sell my assets in a state of loss. to cover debt
1. I am too ambitious when investing because seeking greater profits ultimately suffers considerable losses.
2. install the application from an unclear source so that some of the assets I have become lost. .
3. using capital from borrowing from a friend or bank. so that made me become burdened. finally I was forced to sell my assets in a state of loss. to cover debt
These are the mistakes made by the beginners mostly. As for the installation of suspicions applications, we must all remember that your device can be infected at any time, and your crypto can be stolen. My mistake is not feeling the right time where it is better to sell crypto to avoid the loss further. It is not so easy to pick this time actually.
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I did only the third mistake what you mentioned, I didn´t use stop loss when I traded with 3commas bot and that was my biggest mistake.
Now I have many useless altcoins that are continously falling down instead of BTC.
Now I have many useless altcoins that are continously falling down instead of BTC.
From the three things mentioned, I think the third is the most dangerous because most of those signal groups are just pump and dump schemes designed to benefit the owners of the group and a few lucky users who got in fast and got out faster.
my biggest mistake is.
1. I am too ambitious when investing because seeking greater profits ultimately suffers considerable losses.
2. install the application from an unclear source so that some of the assets I have become lost. .
3. using capital from borrowing from a friend or bank. so that made me become burdened. finally I was forced to sell my assets in a state of loss. to cover debt
1. I am too ambitious when investing because seeking greater profits ultimately suffers considerable losses.
2. install the application from an unclear source so that some of the assets I have become lost. .
3. using capital from borrowing from a friend or bank. so that made me become burdened. finally I was forced to sell my assets in a state of loss. to cover debt
Its good to take risks but taking risks without capital management is what many did and they ended up blaming the technology, either investing or trading in crypto always learn to risk only what you can afford to lose
1. Thinking that getting rich is easy.
2. Not doing your own research.
3. Trusting random dudes from Youtube/Twitter/Telegram Group.
By the way, cryptocurrency isn't all about exchanges/trading.
2. Not doing your own research.
3. Trusting random dudes from Youtube/Twitter/Telegram Group.
By the way, cryptocurrency isn't all about exchanges/trading.
Yeah its true. Also, you should be patient and persevere on what you are doing. You should be dedicated to be part of the cryptocurrency world. You should work hard on learning new things about those cryptos. Analyze all the possibilities that might come to your life.
- Panic Buy/Panic sell.
In both cases, you will lose your money
Mistakes are inevitable. Everybody makes mistakes in his or her lifetime but that doesn't mean you shouldn't learn from it. The important thing in life is that you don't repeat the same mistake you committed. In cryptocurrency, you need to have a mentor and read more about the project you are investing.
Panic buy and sell is something that can't be stop in crypto space and we all know that some panic sell favours on the long run, some projects aren't good enough and they aren't worth holding on to so the moment you can sell off that's the moment you won't regret you did
Very insightful post. I usually tell crypto enthusiasts to use stop loss on every trade, to avoid getting cut up in a bad trade and losing more funds. Also, avoid greed when trading, take profit when it's necessary. Understand what works best for you , do not rely on some buy calls by pump channels.
Stop Loss is one of the most important things for any trader and if you do not use this tool, then there is a very high risk for you to remain for a very long time in a position. 
Very insightful post. I usually tell crypto enthusiasts to use stop loss on every trade, to avoid getting cut up in a bad trade and losing more funds. Also, avoid greed when trading, take profit when it's necessary. Understand what works best for you , do not rely on some buy calls by pump channels.
Most investors enter this market for money, so before they join they do not have training or learn about how the market works. And since then the nature of greed and fear of man is most evident
I don't follow signals. Am I a bad trader? I just look at how much I bought the currency for and then from that I work out how much profit I want. If I see it is a good profit I sell. Then I get a good trade and I still have a chance to buy more when the price drops. Otherwise, I don't buy then the price drops anyway. So selling when it is up is like a second chance. Unless your currency goes up multiples of itself.
If you do not know how to follow the signals, you are not the best trader. Nobody says to follow the signals in the blind, but in case you are a skillful guy, you can take advantage of this by understanding the directions of the trend lines.
The signal scream we are at the bottom of the altcoin cycle, its only up from here https://www.coinspot.com.au/buy/hst
1) Never sell altcoins right at the very bottom...Hint: HST decision token
I don't follow signals. Am I a bad trader? I just look at how much I bought the currency for and then from that I work out how much profit I want. If I see it is a good profit I sell. Then I get a good trade and I still have a chance to buy more when the price drops. Otherwise, I don't buy then the price drops anyway. So selling when it is up is like a second chance. Unless your currency goes up multiples of itself.
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