Topic: Trading sucks, I'll just hold my coins - page 42. (Read 25900 times)

I also had very bad experiences in the past with cryptocurrency trading. I figured after losing some money that you got to have alot of patience with day trading, which is I figured out that I don't have. I always ended up panic buying at high prices thinking I would miss the train, and panic selling at lower lower prices since I'd think it would go alot lower, which is the complete opposite of "buy low, sell high". So right now I just buy at the price dips, then simply just hold.

If you'd like to try out day trading, use only a small percentage of your crypto. Something like 5% or lower, as you'd most probably lose money in your first trades.

I am also new in trading but most of the time I would only invest some of my extra money,
And I would just hold it for a long time I just want to see if it would give me some profit in the long run.

I'm sorry for the very bad experience the first time you get your hands on crypto trading. I also end up losing doing my initial trading activity, but not that big amount though. Yeah for me I considered it a huge amount in my country. I think you already learn your lessons here. It is really hard for beginners to learn the tricks in trading takes years to built a solid experience around this profession. Yes, just try to accumulate bitcoin is smaller portion, this is a method being used by a lot of members here, it will only require you to have more patience and you are going to be happy once you see your bitcoin exponentially grow in the coming months. Goodluck.

Yes when we do not have proper trading plans, we cannot expect positive results from trading. I guess how gamblers switch over to fun seeking gambling mode, traders also will switch over to long term plans when they find their trading is not good for fetching them profits.

it is unfortunate you lost at trade.In the world of crypto trading those who can work together will be the king.parable a group of ants against the elephant,When ants attack elephants better join ants than elephants,If buying at a low price and selling when the price is high is tantamount to waiting for the falling star.If you want to trade you must be to wait and see where that is a lot of movement.I'm sure you can successfully, failure is the beginning of success

i think its a big money for every one and you make a big mistake. why you think that you can do trading as well than other people? when you decide to trading, at least you need to have a skill or you are trying with small amount first until you can do with good. losing that amount is a big mistake but i hope you can learn from your mistake and you don't repeat the same mistake in future.

This is actually your own fault because you did engage to trading without proper preparations on doing it because its not just a simple buy low sell high thing and it does really need knowledge and skills in able to make money out of trading. If you do lose on the first time then better to hold of your coins because it will eventually rise up later on and selling on loss is the most dumb thing to do.Better to hold those and continue to learn up trading and dont give up so early.

That's really bad happened but let me tell one more thing. If bitcoin takes from you then it gives you back like ten times what you have invested. But if you keep rushing the thing then it will happen like this only and you will never reach your minimum requirement. You will end up loosing. In trading you have to keep lots of patience and spend days to months to wait for return of investment.

A wise man always does his homework. You are a newbie and you should not have taken quick actions. Clearly it can be seen that you have panicked but what did you actually do ? did you take part in a pump and dump or you just sold your coins in a loss or did you invest in a shitcoin? whatever you did was a big mistake. The rule to trading is " Never sell your coins in a loss" and " Do your homework" . Research about a coin that has good potential to rise up and only then invest in it. If a coin has good potential it will definitely rise up sooner or later and so there is no need to worry about the loss.

Short term trading is really hard. I tried a few times but I never got consistent in doing it, so I think that my profits come more out of luck and not knowledge. I think what you are doing now, is the best option, and it's what I'm also doing. Just hold to your coins. Of course I don't advise you to hold anything else than BTC, and maybe ether, and why not the free bcc you probably just received.

Trading is risky and I think OP already know that before he jump in the water, and probably he was doing short term trading and I admit it took me quite some time too to master that (not really master but to know how to do short term trading). You see when you are doing short term, you have to keep your eyes on your laptop and wait for the pump and dump of the coins, so sad that you weren't lucky enough to have patience and wait for the rise and fall of the coin. And that is the reason why I also prefer long term than short term because I don't want to wait and keep my eyes on the laptop all the time.

For guessing a large amount of income it is easy in trading but when it comes to picture you need to wait some time in order to make profits on the investments you made on a particular coin. It is very easy to say buy low and sell them at a high price but it is really hard because it will take some time to get profits.

Sorry to hear about your losses. It sucks when you're a newbie and you get excited about trading, but you end up losing a lot of money and it puts you off trading. It happened to me too when I first started out. I purchased coins at a high price and then they crashed and stayed down for weeks, so I sold them. After I sold them, they skyrocketed and I would've made my money back if I kept them. I've learned many lessons since then, among the most important lessons are:

1. Invest in strong quality coins
2. Study the minimum price over a minimum month long period before you place an open order to buy at the rock bottom price.
3. Even if the price falls after you buy it, hold the coin until the price rises again.
4. Never buy during a pump. I did that once. I purchased at the end of a pump, then the price plummeted and so did my money. Never again.

It's always a good idea to experiment and learn with small amounts of money until you get it right before trading with more money.

I wish you all the best going forward, and even if you don't trade again and just hold onto your BTCs, one day they'll be worth a lot more money and you'll more than make up for the money lost.

Most trader on market trading with type keep coins and waiting highest price in early this year (about in March - May) are take a huge profit from it. But remember when in June beginning the bearish trend, if you still keep your coin just make have loss more money.

Trading doesn't suck at all i just made 1 bitcoin in the last 24 hours from just 0.2 bitcoin. You can also earn profit but first stop trading shit coins or buying coins whenever you have funds trading is all about timing just hold atleast 0.1 bitcoin on your favourite exchange one day there will be a trading opportunity you will notice to make you huge profits

Really? Hmm i am planning to start trading but now i'm hearing negative things about it. But regardless, i will still try it with atleast .05 btc as a start. We learn from our mistake and hopefully you recover all your losses.

In trade, you can not give in to emotions. I, too, decided that it would be safer for me to just keep coins and wait for the price to rise, I already earned a lot in this way.

Trading is not for everyone, believe me. You cant be a good trader when you dont have skills and proper knowledge. It requires this as you need to equip yourself and dont end up become a loser. When you think trading is not really for you then stop it or else you will be poor as a rat. Just hold your bitcoin for long term and it'll profit without losing anything.

I'll paste this in, because its worth a read.  (he lost 120BTC). Better to learn from his mistake, not yours.
(src: https://www.reddit.com/r/ethtrader/comments/606fz4/my_final_margin_call/)

Okay guys, so after quite a few years, I'm quitting trading altogether.
Through my years, I've had some great days and some bad ones. I remember staying up nights on end looking at the price, roaring with happiness when my position went up 20% and sighing when my stop losses were hit. I've had some amazing fun and invested hours upon hours of my life into crypto. I'd earned a LOT by reselling stuff in real life and putting it into BTC in the $200-600 range. My net worth was pretty huge and I was essentially set for life. Being young, I have very little in fiat: the majority of my holdings were in BTC.
All because of one position, I lost it all. Yes, I know it was stupid. Yes, I know you shouldn't short, especially in a bull market. Yes, I know that I should have cut my losses fast. From the first worrying -2 BTC to the slightly terrifying -20 BTC, watching my losses grow and grow. Everyone told me to close the position: but I told them, are you retarded? Do you want me to close out with a $2,000 loss when it's so clear DASH is going to crash? Do you want me to close with a $10,000 loss when this is clearly a bubble? Do you want me to close with a $50,000 loss when I can easily make $20,000 if I just wait this out?
I was so damn certain that DASH was going to fall. And, it kept hitting new all time highs. I thought I was smarter than the market, I thought I could time the bubble: but guys, remember. It just doesn't work.
So, I've decided to stop trading 100%. It's a drug to me. (Even after being liquidated, can you believe that I converted the rest of my bank funds to Bitcoin and shorted more? I made a horrible decision in a fit of rage and I regret it so fucking much.)
My final margin call: https://gyazo.com/8cba2eb983f4ff6733a0b8b4807f358a
I hope that some people here will be able to learn from me and never let their losses grow to what they can't afford to lose. For years, I have been content with my life and sufficiently "well-off" in the knowledge that crypto is huge and I have enough money to live comfortably. I'm crying as I type this, because this is the worst moment of my life. So many fucking years of working, and all gone in days. I'm no longer rich, or well-off. I'm going to have to fucking bust my ass, bit by bit, to slowly recover - and I don't even know where to start. The pay I'll get when I start working ($10-20ish) seems like literally nothing compared to the thousands I lost. And if crypto really takes off, I'll always have regrets about what could have been.
Honestly, I'm just so done with everything. My head hurts, I can't stop crying and DASH is still going up. Good bye, I hope all of you have a great day.

Trading is a very risky things and newbie supposed to be not playing big, you should start from small amount and be ready to lose that money, trading is not as simple as buy low sell high, there are so many aspects and things that need to be considered, and losing money is a common thing in trading, but if you are not ready to lost that money then don't do any trading