Topic: What are the most popular mistakes in Altcoin trading? (Read 99 times)
one of mistake wich i had is believe to words and promises of unknown altcoin team to make great project and buying coins when it was pumped.
The OP is right to an extent and it is most times applicable to trading, but i hgave seen instances where investing in uptrend can still be profitable, most especially for pump and dump coins.
I think, the most popular mistakes is they are buying if the price of one crypto is starting to increase, or means by increase by some sort of hype and demand. but it is really risky which means that its price might dump anytime.
Coins bought at the wrong time can lead to big money losses. A third or four weeks ago, a friend invested heavily in a coin that had risen in price too much and lost 80% of his money.
A nice trading advice would be: "Buy when everyone else is selling and sell when everyone else is buying". But hey, I'm not a trader per se, so what do I know. I red that somewhere and it seemed like an interesting strategy to hold on to.
basically, I agree with your statement. and I think that for beginners this information will be useful.
That's exactly my investment strategy, I don't buy coins when the price is going up quickly, I always wait and buy the coins at dip and wait for the price to go up so high for me to sell off again.
buying the altcoins at pump and selling those coins at dump and feeling panic every now and then when the market crashes market patience is needed
Another mistake people do is buying altcoins when they see the price of bitcoin rising. They hope that the price of altcoin will also go up, but actually the total opposite thing happens. We see the price of altcoin actually falling when the price of bitcoin starts to rise. This is because people starts to "dump" their altcoin and rush into investing on bitcoin which causes the price of altcoin to drop and the price of bitcoin to rise.
I think it is incredibly unreasonable to risk too much to lose as I think it is, even in the simplest trade. I will have to take the risk, but I always think I need a plan B.
The biggest mistake in trading Altcoins is panic.
Now Altcoins are very much cheaper, but the growth will be even more rapid.
It's worth a while to wait
Now Altcoins are very much cheaper, but the growth will be even more rapid.
It's worth a while to wait
The answer to your question is in your post already, in other words we can say that the simple trick is to never get trapped in fomo and likewise never panic sell infact both of these situations are asking opposite action that is sell high buy low.
If you’re trading and you come across a nice uptrend, your instinct is probably to go full-in on this amazing uptrend. Why? Look closely: good movement, great moving average indicators - and it’s curving almost exponentially, which means a massive & rapid increase in price. What could go wrong? Okay, a few minutes later! So lesson #1, never, ever buy a vertical uptrend, there’s ALWAYS a reversal. BUY THE DIPS, NOT THE SHOOTING STARS. Cryptocurrencies are highly volatile. Never invest more than you can afford to lose.
i think that sometimes peolel start tontrade too early without proper sum of koney or know?edge that ks why they suffer loses If you’re trading and you come across a nice uptrend, your instinct is probably to go full-in on this amazing uptrend. Why? Look closely: good movement, great moving average indicators - and it’s curving almost exponentially, which means a massive & rapid increase in price. What could go wrong? Okay, a few minutes later! So lesson #1, never, ever buy a vertical uptrend, there’s ALWAYS a reversal. BUY THE DIPS, NOT THE SHOOTING STARS. Cryptocurrencies are highly volatile. Never invest more than you can afford to lose.
and i believe that you need to watch others and to learn from other peolel and of course start with a small su of money If you’re trading and you come across a nice uptrend, your instinct is probably to go full-in on this amazing uptrend. Why? Look closely: good movement, great moving average indicators - and it’s curving almost exponentially, which means a massive & rapid increase in price. What could go wrong? Okay, a few minutes later! So lesson #1, never, ever buy a vertical uptrend, there’s ALWAYS a reversal. BUY THE DIPS, NOT THE SHOOTING STARS. Cryptocurrencies are highly volatile. Never invest more than you can afford to lose.
in my opinion thetpg are fapear and the fact the people start tradung too ezrly without proler learning? usually it leads to mistakes
If you’re trading and you come across a nice uptrend, your instinct is probably to go full-in on this amazing uptrend. Why? Look closely: good movement, great moving average indicators - and it’s curving almost exponentially, which means a massive & rapid increase in price. What could go wrong? Okay, a few minutes later! So lesson #1, never, ever buy a vertical uptrend, there’s ALWAYS a reversal. BUY THE DIPS, NOT THE SHOOTING STARS. Cryptocurrencies are highly volatile. Never invest more than you can afford to lose.
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