Trading mistakes i do - page 2. | Bitcointalksearch.org

Janation

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Quote from: Shohag123 on June 02, 2020, 05:08:14 AM

2. When i decide to buy any coin,i don't study about its chart,so normally i buy coin in their peak.As a result when the price of the coin falls,i loss chunk amount of money.

For me, this is just hard.

We are dealing with a volatile market, you never know what will happen or what will be the next movement of the price. Though there are some signs that the price might have a bull market or a bear market but always remember that it is also risky and it is not 100% profit since we all know that trading doesn't work like that.

Assface16678

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Those are the common trading mistakes of the traders I'm a trader too but the like a professional like you and I experience most the trades like that and I think those commonly happen to a trader. Sometimes getting FOMO is having a good thing too because sometimes getting a trade for more than three trades is good if you have a good quota you make a good amount of market profit. We called them the scalpers who make more trades a lot and they don't skip any kind of market movement and I want to be like that but also I made just two trades a day because sometimes the market does not have any market movement.

Also about getting greedy it is quite normal because all of us wants to make more money in trading so sometimes we become greedy and I think it is not bad sometimes it causes more money and income to you and sometimes it's not because of too much waiting on the market movement the upward trend now can be experience a little bit down trend especially in one to four hours trading time.

michellee

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Quote from: tvplus006 on June 04, 2020, 04:51:11 AM

Quote from: michellee on June 04, 2020, 03:07:51 AM

Quote from: Nathanz on June 04, 2020, 12:24:42 AM

Failing in trading cryptos is part of the process for you to acquire lessons which is vital for your trading journey. The most important part of it is that you have to learn from your mistakes and to be better next time. Mistakes are normal especially for new traders. Try to seek help from other traders out there in the community. You could also watch videos which teaches newbies on how to avoid those mistakes.

I believe every trader make mistakes, whether they realize or not. If we can learn or we want to learn from the mistake, there will be no worry for us because we can improve our skills at the same time while we learn. If he can ask pro traders out there, he will found out that the pro trader makes a mistake too, but the difference is they can learn fast, and they can improve their trade based on the market so they can recover the loss in a short time. We can do that too if we can learn more and more.

Yes, it really is. I looked at the errors that the OP had written about and saw that I had also made them. The main thing after making such mistakes is to analyze their cause and avoid them in the future. But this will not still guarantee that you will not commit them again under the influence of external factors.

If the OP can prevent the external factors, I think he can fix the problem step by step because there is no need to hurry to recover the loses in trading. Once he can get the point from the mistake, he will learn how to prevent the other mistake, and he will be careful to trade. He will trade with better with a better analysis so he will be able to recover the loses.

Joyawan13

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Quote from: Shohag123 on June 02, 2020, 05:08:14 AM

I am not a newbie in cryptocurrency industry.But that doesn't mean i am a big trader.I am a small trader and in this topic i will tell about my mistakes i normally do.So small traders can survive and avoid those mistakes.

1.Normally when i buy any coin,i wait sometimes for coin to rise.But when it doesn’t i sell this coin and after somedays it increases and it leaves me thousands regrets.

2. When i decide to buy any coin,i don't study about its chart,so normally i buy coin in their peak.As a result when the price of the coin falls,i loss chunk amount of money.

3.My biggest mistake is panic selling.If any coin falls a little i panic and sell my share.And it cost me some money.And again when it increases,i try to buy.Its not very good.

So i want to tell all that you have to understand chart,their graphs and you have to read projects whitepaper and all.

Thats it for now.All of you can share your trading mistakes and we all can learn from it.

mistakes for beginners or new traders in trading are usually like that and that's a natural thing in my opinion, of course, panic when the market price movements are sometimes very fast, of course not just new traders, big traders also sometimes experience panic and sometimes they make mistakes , so learn not to panic and be quick to make decisions when you buy and sell when you have benefited even though the amount is not large, don't obsess over huge profits in day trading.

posi

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Quote from: ?? on ??

Quote from: posi on June 03, 2020, 05:48:17 PM

Quote from: Shohag123 on June 02, 2020, 05:08:14 AM

I am not a newbie in cryptocurrency industry.But that doesn't mean i am a big trader.I am a small trader and in this topic i will tell about my mistakes i normally do.So small traders can survive and avoid those mistakes.

1.Normally when i buy any coin,i wait sometimes for coin to rise.But when it doesn’t i sell this coin and after somedays it increases and it leaves me thousands regrets.

Buying of any coin base on hype without putting into consideration the coin utility level it never a good decision.

Quote from: Shohag123 on June 02, 2020, 05:08:14 AM

2. When i decide to buy any coin,i don't study about its chart,so normally i buy coin in their peak.As a result when the price of the coin falls,i loss chunk amount of money.

Study of coin chart doesnt mean the coin will be profitable investment but the act of buying/investing in any crypto at peak price even if it BTC is fast way of making lost in crypto investment.

Quote from: Shohag123 on June 02, 2020, 05:08:14 AM

3.My biggest mistake is panic selling.If any coin falls a little i panic and sell my share.And it cost me some money.And again when it increases,i try to buy.Its not very good.

So i want to tell all that you have to understand chart,their graphs and you have to read projects whitepaper and all.

Thats it for now.All of you can share your trading mistakes and we all can learn from it.

Panic is also the worse decision in crypto investment and this is the reason why it better to always investment in a complete utility crypto which will later experience another ATH sooner or later.

lol. Panic really dealth heavily with me in 2018. At a point Ripple and Neo were looking like they want to crash before my eyes. After hours of waiting, I sold of to usdt. But these coins grew big in the next days. If you are not discipline, you will keep running back and forth in trades and would probably think you are jinxed. You sell and a coin moons, you hold and it dumps Wink

It good that you have buried the panic part of you in the aspect of crypto trading but i think you also need to have knowledge in coin selection because those 2 coins you mentioned are highly manipulated/centralized coin which can experience dump in price for no genuine reason.

TheGreatPython

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You see the second and third mistakes you mentioned ? Grin

Lol I made a lot of those back when I was still a newbie and to be honest I regret ever doing that.

A lot of times I ended up buying coins at their peak price and then it falls and I start regretting why I ever did that. That's why it's very important to understand technical analysis, because if you don't know it you might keep repeating the same mistakes all the time. Moreover, do not fall for FOMO; only because of FOMO we may end up buying at peaks. If some opportunities to be missed out the accept it as missing otherwise you may enter at peak and may need to wait for years to see profits.

If you can't do technical analysis and you don't know it yet, it would be best if you look for any site that does that so that you can be learning from them. I used to make use of Cointelegraph and CCN then and I was also in a WhatsApp group of friends that were giving me a lot of tips till I got better.

Emitdama

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For me, when I am in this situation I simply accept that it has happened and it's just a mistake, there is nothing that can be done to reverse that. So you just have to accept it, despite that it is difficult, but you have to do it and focus on future opportunities. If you keep worrying about the opportunities you have missed you will be distracted and won't be able to see the opportunity that is in front of you.

So, forget it and focus on finding other opportunities. I can remember that I had this same problem investing in many altcoins in the past, but I never worried much and the opportunity still came back bigger with some other altcoin. So, get ready to grab the future opportunities rather than being worried and missing out them.

jcpone

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Quote from: Injective on June 03, 2020, 11:17:02 PM

The mistake I did is that I missed several lowest points. I was learning the contract trading. I was using the stimulating function on one exchange. I thought that was real but it is not actually. What a pity. Have to wait for the next circle.

Doing mistakes in the actual trade is normal for the individuals traders. This mistakes, put us to become a good trader in the future.
Therefore, the more mistakes we face is the more chances for us to grow more in doing trade for cryptocurrency. Just never stop learning
in trading.

Mauser

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Quote from: Shohag123 on June 02, 2020, 05:08:14 AM

I am not a newbie in cryptocurrency industry.But that doesn't mean i am a big trader.I am a small trader and in this topic i will tell about my mistakes i normally do.So small traders can survive and avoid those mistakes.

1.Normally when i buy any coin,i wait sometimes for coin to rise.But when it doesn’t i sell this coin and after somedays it increases and it leaves me thousands regrets.

2. When i decide to buy any coin,i don't study about its chart,so normally i buy coin in their peak.As a result when the price of the coin falls,i loss chunk amount of money.

3.My biggest mistake is panic selling.If any coin falls a little i panic and sell my share.And it cost me some money.And again when it increases,i try to buy.Its not very good.

So i want to tell all that you have to understand chart,their graphs and you have to read projects whitepaper and all.

Thats it for now.All of you can share your trading mistakes and we all can learn from it.

There have been already so many good recommendations here. I would just like to add one more.

If you are not an expert in the field or have insider information don't try to find the perfect sell or buy price. Timing is one of the hardest things about trading and investing. Better just to split your buy/sell orders in smaller chunks and try to execute them over time. The average price you achieve should be much better.

Also, if you invest in a good crypto currency like BTC, just try a buy and hold approach. Forget about your coins for a few weeks and dont check the prices of your portfolio every day.

tvplus006

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Quote from: michellee on June 04, 2020, 03:07:51 AM

Quote from: Nathanz on June 04, 2020, 12:24:42 AM

Failing in trading cryptos is part of the process for you to acquire lessons which is vital for your trading journey. The most important part of it is that you have to learn from your mistakes and to be better next time. Mistakes are normal especially for new traders. Try to seek help from other traders out there in the community. You could also watch videos which teaches newbies on how to avoid those mistakes.

I believe every trader make mistakes, whether they realize or not. If we can learn or we want to learn from the mistake, there will be no worry for us because we can improve our skills at the same time while we learn. If he can ask pro traders out there, he will found out that the pro trader makes a mistake too, but the difference is they can learn fast, and they can improve their trade based on the market so they can recover the loss in a short time. We can do that too if we can learn more and more.

Yes, it really is. I looked at the errors that the OP had written about and saw that I had also made them. The main thing after making such mistakes is to analyze their cause and avoid them in the future. But this will not still guarantee that you will not commit them again under the influence of external factors.

michellee

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Quote from: Nathanz on June 04, 2020, 12:24:42 AM

Failing in trading cryptos is part of the process for you to acquire lessons which is vital for your trading journey. The most important part of it is that you have to learn from your mistakes and to be better next time. Mistakes are normal especially for new traders. Try to seek help from other traders out there in the community. You could also watch videos which teaches newbies on how to avoid those mistakes.

I believe every trader make mistakes, whether they realize or not. If we can learn or we want to learn from the mistake, there will be no worry for us because we can improve our skills at the same time while we learn. If he can ask pro traders out there, he will found out that the pro trader makes a mistake too, but the difference is they can learn fast, and they can improve their trade based on the market so they can recover the loss in a short time. We can do that too if we can learn more and more.

adzino

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Those actually some common mistakes that everyone does. By everyone, I mean every traders that are new to the trading does. With experience, eventually they learn and tries not to repeat those mistakes. The real reason why they make those mistakes is that they just rush into trading. They don't even try to understand how market works. All they come with the knowledge that they can make some quick profit by selling those when the price is high. But, when they see the price starting to drop, they just end up selling without even waiting for the price to recover and rise.

Vitalicus

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Quote from: chaser15 on June 03, 2020, 05:28:20 PM

Let's change the subject to "Trading mistakes everyone do".

For me, I don't see those as a big mistake. We need to experience mistakes and losses first before we think of a way how to prevent it in the future. There is no way newbies will not experience those.

Even I still experiencing losses and mistakes as it was common. Other mistakes also considered human nature.

As we gained experienced and move forward, those mistakes will eventually minimize until such point that everything can be handle now.

You got the point! Those mistakes aren't unsual. Every trader has to go through this phase to gain experience, knowledge and lessons. Those are the lessons you have to learn in a hard way, though, those are the lessons that you'll remember the most. Going through those mistakes is critical in the way to become a successful trader!

Lorence.xD

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Based on the mistakes the OP given, I can see that he/she is a very impatient person. My conclusion about you might change but in my perspective, that is what I can see, I too am not that newbie to crypto but when it comes to trading I am still accumulating knowledge, experience and lessons learned by people who have been trading a long time ago. If I may impart some lessons I learned along the way, one is ought to have a safety net when it comes to trading because there will be guaranteed downfalls and you can't rely too much on your trading profits because you are still growing the money and pulling it out a little early would result in frustration, regret and deficit in profit, so have an emergency fund in case.

Nathanz

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Failing in trading cryptos is part of the process for you to acquire lessons which is vital for your trading journey. The most important part of it is that you have to learn from your mistakes and to be better next time. Mistakes are normal especially for new traders. Try to seek help from other traders out there in the community. You could also watch videos which teaches newbies on how to avoid those mistakes.

pawanjain

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Nothing lasts forever

I would say that the solution to all your problems is patience. If you try to be a little patient then you will see the results.
Instead of selling when the the price is not rising, you could be a little patient and wait until the price rises.
Instead of buying at peak and selling when the price goes down, you can be a little patient and wait until the price crosses the ATH price so that you make a profit.
Instead of panic selling, you can be a little patient and wait to sell at a better price.

All you need is patience bud.

Injective

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The mistake I did is that I missed several lowest points. I was learning the contract trading. I was using the stimulating function on one exchange. I thought that was real but it is not actually. What a pity. Have to wait for the next circle.

Kasabus

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Quote from: chaser15 on June 03, 2020, 05:28:20 PM

Let's change the subject to "Trading mistakes everyone do".

For me, I don't see those as a big mistake. We need to experience mistakes and losses first before we think of a way how to prevent it in the future. There is no way newbies will not experience those.

Even I still experiencing losses and mistakes as it was common. Other mistakes also considered human nature.

As we gained experienced and move forward, those mistakes will eventually minimize until such point that everything can be handle now.

Yes. We all commit mistakes in trading as this one cannot be avoided even how skilled or professional we are in trading. But the good thing in trading is that if you keep on doing it with all the lessons you learned everytime you trade, you will be become more wiser in trading and will be able to handle your losses once you trade.

posi

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Quote from: Shohag123 on June 02, 2020, 05:08:14 AM

I am not a newbie in cryptocurrency industry.But that doesn't mean i am a big trader.I am a small trader and in this topic i will tell about my mistakes i normally do.So small traders can survive and avoid those mistakes.

1.Normally when i buy any coin,i wait sometimes for coin to rise.But when it doesn’t i sell this coin and after somedays it increases and it leaves me thousands regrets.

Buying of any coin base on hype without putting into consideration the coin utility level it never a good decision.

Quote from: Shohag123 on June 02, 2020, 05:08:14 AM

2. When i decide to buy any coin,i don't study about its chart,so normally i buy coin in their peak.As a result when the price of the coin falls,i loss chunk amount of money.

Study of coin chart doesnt mean the coin will be profitable investment but the act of buying/investing in any crypto at peak price even if it BTC is fast way of making lost in crypto investment.

Quote from: Shohag123 on June 02, 2020, 05:08:14 AM

3.My biggest mistake is panic selling.If any coin falls a little i panic and sell my share.And it cost me some money.And again when it increases,i try to buy.Its not very good.

So i want to tell all that you have to understand chart,their graphs and you have to read projects whitepaper and all.

Thats it for now.All of you can share your trading mistakes and we all can learn from it.

Panic is also the worse decision in crypto investment and this is the reason why it better to always investment in a complete utility crypto which will later experience another ATH sooner or later.

CaVO32

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Quote from: chaser15 on June 03, 2020, 05:28:20 PM

Let's change the subject to "Trading mistakes everyone do".

For me, I don't see those as a big mistake. We need to experience mistakes and losses first before we think of a way how to prevent it in the future. There is no way newbies will not experience those.

Even I still experiencing losses and mistakes as it was common. Other mistakes also considered human nature.

As we gained experienced and move forward, those mistakes will eventually minimize until such point that everything can be handle now.

I agree with that. At some point in our trading life, we all experienced that and sometimes we are all still experiencing some of them. Mistakes will make us understand how crypto trading works and how those alts move in the market. And if I may add to the pointers, to know possible hints from the developers, closely follow also their social media channels as sometimes they will give you updates that will not be posted on their official thread here.

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