Topic: The three biggest mistakes you should avoid - page 9. (Read 11305 times)
I agree with you, but I also want to add that it is necessary to buy when the market falls, and to sell when the market grows. In one case it is panic, in the other greed, it is necessary to do exactly as I wrote.
The biggest mistake to avoid as a trader or investor in cryptocurrencies is to buy a particular coin or token based on FOMO (Fear of missing out) this is because the cryptocurrency market is relatively unpredictable and by investing based on FOMO is the first step to getting rekt.
When the market seems to be in a stable state is there best time to get in on coins and not when it is pumping hard because there is often a correction stage after a big pump
When the market seems to be in a stable state is there best time to get in on coins and not when it is pumping hard because there is often a correction stage after a big pump
Greed and also too much faith in some project. I think whenever it shows bad sign then you should start to sell don't put too much trust in this because it can dissappear so easily so better safe than nothing. Greed is also the main enemy of us whenever greed completely control us then you will loss because you think your brain is the player of market
Right,holding too much longer on some project will make us to be fool so that is why we need to exit that project if we are not able to hold losses from that capital.For signals it will be better to completely ignore than trusting with backup plans because we knows that this market is not predictable by anyone so why we need to trust them.
- 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.
Greed and also too much faith in some project. I think whenever it shows bad sign then you should start to sell don't put too much trust in this because it can dissappear so easily so better safe than nothing. Greed is also the main enemy of us whenever greed completely control us then you will loss because you think your brain is the player of market
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
Holding is a newbie thing to do but that doesn't mean its not smart. Most people lack the knowledge and ability to trade so holding is their best option. But always set a price to sell ,its not like your going to hold forever. Sell off in chunks so you can cost average your sell price.
- Panic Buy/Panic sell.
In both cases, you will lose your money
- 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.
Of these theses, the first is the most important (Panic Buy/Panic sell). Any market is always subject to panic and the cryptocurrency market is no exception. That's human nature.
Brilliant summary. Risk management is very important and another thing is to learn how to make personally research on a project before jumping in it, so as to minimize running into lose
I agree with this and is the basic capital in starting something I want to do, I don't need to rush to start something. enjoy the process it will produce satisfying results.
- 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.
Thanks for the abstracts from you!
I did this method 2 years ago and it was very helpful.
New participants please note the above.
I can list these mistake like below,
1.panic sell
2.panic sell
3.panic sell
You should never do a panic sell.(unless there is a story behind it, scam accusations etc.)
1.panic sell
2.panic sell
3.panic sell
You should never do a panic sell.(unless there is a story behind it, scam accusations etc.)
panic sell usually occurs because the project does not have good news, the team works slowly so that investors have doubts about the project, because most investors don't have much patience
Sometimes, panic sell in inevitable in some cases like you described here, but that is why an investors must strive hard to ensure that any project being considered for investment would not cause him to be a victim of panic sell in future. Most of these panic sell advise is usually more useful to people that have investment in reliable coins like Bitcoin and maybe top 10 coins, because those ones will always have a positive future and no matter the little challenge we encountered along the line during our trade with them, we should know that things will always be corrected, so it is not worth having panic sell over those top coins, we will end up losing if we do.
I think you sum up an investment philosophy. We need to constantly sum up the gains and losses in trading. We need to develop our own investment theory and habits. Let's minimize our mistakes in trading and investing.
yes, what you say is true in your opinion and maybe in my opinion the mistakes we have made have made us more careful in investing in the crypto currency, the belief is the best capital
The market is again repeating in 2017, the BTC pump makes altcoin dump and then BTC dump makes altcoin dump. But doing so will make big investors more profitable when altcoin is at a low price. Don't repeat the mistake before
I think you sum up an investment philosophy. We need to constantly sum up the gains and losses in trading. We need to develop our own investment theory and habits. Let's minimize our mistakes in trading and investing.
- 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.
-Quality of the project
-The direction of the trend and your position (long or short)
-Target point or take profit zone
-BTC trend and situation
-Patience
-Never give up
- 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.
Excellent summary, i endorse what's stated here. Always act with careful planning, caution and risk-management.
You see panic sell, I would not totally disregards it, especially in this market that IS being manipulated, there are so many coins that if you don’t quickly take action to sell, you may end up regretting for life, which is why we have to be very sure of project we want to invest in before putting any large fund.
- 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 Buy" seems right at right now because everyone all think Bitcoin's price will continue to raise up and may gain 100k, so many people are buying Bitcoin , but everthing is not easy like this, I think there will be a big adjustment of market in few upcoming days
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