What have been your crypto trading experience - page 6.

Myleschetty

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Quote from: Abbee on April 05, 2022, 10:28:08 AM

Trading crypto is never a do or die affair, in crypto worst happens, this is because the market is not fully determined by one person or commodity unlike other businesses.

I wish we could see more people that understand crypto trading not to be a must do for every crypto enthusiast cause stats of trader that make lost is huge.

Quote from: Abbee on April 05, 2022, 10:28:08 AM

I remember I bought my Ethereum at an affordable rate and due to my ignorance and impatience I sold it a low price even though to me,the price was great since I made my profit.

It looks like you don't know the difference between crypto investment and trading because what you said here indicates what you're into as investment not trading.

barbara44

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I have had several experiences in the market from winning to losing and all the experiences that I've had have helped in shaping the way I go about trading cryptocurrency in the market.

So, I would say first of all it is very important that you get to know that there is risk involved in trading cryptocurrency. And after that you have known that, the next important thing that you have to do is to create a good strategy after you have learnt about the strategies that are involved in trading. And also know how to manage your capital so that you don’t end up losing everything in the market since the risk in trading is to high.

Cling18

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Quote from: Odusko on March 26, 2022, 07:06:08 PM

Over some time, I have tried to understand and take advantage of the many possibilities in cryptocurrency trading this emerging venture has helped many to reach their goals. What is the most valuable experience that has been a guide for your cryptocurrency trading?

I've learned that crypto trading needs patience and broad knowledge. It's too important that you know how to manage your emotions or else, it will be the one who will ruin your decisions. I've learned how to get rid of greediness and you will only learn it in time. Experience is really the best teacher and as I experienced failures in trading, I realized that it isn't a shortcut to success which was my mindset when I was just starting.

Abbee

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Trading crypto is never a do or die affair, in crypto worst happens, this is because the market is not fully determined by one person or commodity unlike other businesses. My trading experience in crypto has actually been good though, I can say my ignorance in fully understanding the crypto market affected my coin. I remember I bought my Ethereum at an affordable rate and due to my ignorance and impatience I sold it a low price even though to me,the price was great since I made my profit.
The most important skills in crypto is patience and also accepting the fact that in business, you can't make profit always. Also understanding crypto before diving towards it is also a crucial factor not only in crypto but every other business as well.

TheUltraElite

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Quote from: Odusko on March 26, 2022, 07:06:08 PM

Over some time, I have tried to understand and take advantage of the many possibilities in cryptocurrency trading this emerging venture has helped many to reach their goals. What is the most valuable experience that has been a guide for your cryptocurrency trading?

I am curious to know what possibilities you took in trading other than spot trading. Did you go for margin, leverage and options? Keep in mind that these are nothing different from gambling with your money and the only EV+ trading is spot trading.

Since I was in stock trading before this, crypto was a bit different compared to the timing and range of movements. But if you are calm and composed and you dont take every market movement too deeply, you will never face a problem in keeping patience and making a profit. This I have learnt in the older days of stocks, helped me a lot with crypto trading.

My overall experience has been good and profitable, though a bit slow because I play long term and safe.

rby

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Quote from: maydna on April 05, 2022, 07:27:43 AM

Quote from: Strongkored on April 05, 2022, 01:01:35 AM

Quote from: Odusko on March 26, 2022, 07:06:08 PM

What is the most valuable experience that has been a guide for your cryptocurrency trading?

Accept every loss as well as any profit and do not regret every decision that has been taken, and return to take a new step without dwelling on past results.
Traders find it difficult to accept losses even though losses need to be experienced so they can be more careful and thorough in every decision they make

It takes time to accept every loss, and not all traders can accept it right away. If those who can accept losses can learn from their mistakes, they have the possibility to improve their abilities in the future because it allows them to analyze the mistakes they have made. It is hoped that by taking lessons from these mistakes, they can increase their knowledge in trading.
After that, they can be more observant in analyzing every movement in the market and can determine when to trade.

It is very difficult to accept losses. But in trading I willingly accept losses if some certain conditions are met by me before the losses occur.
For instance I have my tested and working strategy which has been working for me. But on a very bad day I apply the strategy, and also do all the necessary things but in the end I still lose, I will simply accept my loses and call it a bad day. That is the nature of the market. Win and lose is it, and only the strong survives the wave.

maydna

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Quote from: Strongkored on April 05, 2022, 01:01:35 AM

Quote from: Odusko on March 26, 2022, 07:06:08 PM

What is the most valuable experience that has been a guide for your cryptocurrency trading?

Accept every loss as well as any profit and do not regret every decision that has been taken, and return to take a new step without dwelling on past results.
Traders find it difficult to accept losses even though losses need to be experienced so they can be more careful and thorough in every decision they make

It takes time to accept every loss, and not all traders can accept it right away. If those who can accept losses can learn from their mistakes, they have the possibility to improve their abilities in the future because it allows them to analyze the mistakes they have made. It is hoped that by taking lessons from these mistakes, they can increase their knowledge in trading.
After that, they can be more observant in analyzing every movement in the market and can determine when to trade.

uchegod-21

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Quote from: Natalim on April 01, 2022, 09:37:31 AM

Quote from: Odusko on March 26, 2022, 07:06:08 PM

Over some time, I have tried to understand and take advantage of the many possibilities in cryptocurrency trading this emerging venture has helped many to reach their goals. What is the most valuable experience that has been a guide for your cryptocurrency trading?

1. I'd learn that trading isn't for everyone
2. I'd learn that patience is the key to succeed in trading
3. I'd learn to accept losses
4. And lastly, Decision-making

Perhaps, I don't really have a good experience in trading, I was about to quit after losing money but then, I realize this is all gonna happen and If I quit, it gives me no chance to take it back.

1.Trading is not for everyone: This is true, there are people who has troubles of blood pressure who will not bear losses and people who are so impatient that they will end their trade even when on losses. If you have tried trading and it is not working for you, you can please try another thing.

2. Patient is the key to everything, not just trading. You cannot be successful in many things in life you are not patient. Patience is a virtue.

3. No one will willingly accept losses in life. To lose in life means to lose really. So it is not always welcomed in trading. But a realist will always know that there are two sides of the coin or dice.

4. Decision-making is an important factor. Most times it is better to make a bad decision than not to make at all. You may decide not to take profit and later run into losses in few minutes time. So, to decide is one and to bear the consequences of your decision is another.

Strongkored

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Quote from: Odusko on March 26, 2022, 07:06:08 PM

What is the most valuable experience that has been a guide for your cryptocurrency trading?

Accept every loss as well as any profit and do not regret every decision that has been taken, and return to take a new step without dwelling on past results.
Traders find it difficult to accept losses even though losses need to be experienced so they can be more careful and thorough in every decision they make

sana54210

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Quote from: lombok on April 03, 2022, 07:49:58 PM

Quote from: gabbie2010 on April 03, 2022, 06:55:22 PM

-snip-
Always take profits appropriately irrespective of how small the profit is thus avoid greediness,

This is one of my experiences because I was too greedy, I didn't make a profit but instead I lost, but I feel grateful because of this I can correct my mistake, every position I have I will set SL+ and TP. SL+ here intends to avoid losses where I will put SL+ at a certain price if triggered then my position will come out and get a little profit.

That is what experience is all about. You’ll get to learn new things that you didn’t know about and through that experience and what you have learnt from it, you are able to upgrade your skills and get better at what you are doing. If you never had that kind of experience and also tried to learn from it you wouldn’t have been able to know the thing that you know today. But, now you are clearly aware that you are meant to make use of stop loss and other tools that are meant to help your trading and decrease the risk that you are taking so that you do not end up losing too much of your money in trading.

wxa7115

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Quote from: maydna on March 31, 2022, 11:32:49 AM

Quote from: Odusko on March 26, 2022, 07:06:08 PM

Over some time, I have tried to understand and take advantage of the many possibilities in cryptocurrency trading this emerging venture has helped many to reach their goals. What is the most valuable experience that has been a guide for your cryptocurrency trading?

Perhaps the most valuable experience I've found in cryptocurrency trading is when I've lost control in a panic when the price has plunged to a bottom. At that time, I only thought about how to save the rest of my money and just sell it straight away without thinking that the price could bounce back because it was just a correction. In addition, I also faced greed with taking profit because at that time, the coin I owned, the price could go up high, but I didn't sell. As a result, the price went down slowly until finally, the price returned to the lowest price without me having time to sell it at a high price. That was probably the most valuable experience I came across, and I always wanted to learn from those mistakes to become a good trader.

Without a doubt those are important lessons that sooner or later we have to face, however while at the time they were painful at the same time they contributed to your growth as trader or investor, however one of the big issues when it comes to a lot of newbie traders is that they do not learn their lesson the first time they make a mistake like this.

So they end up making the same mistakes over and over again before they learn their lesson, and by the time they do so the losses they have accumulated are so massive that it does not matter how good they are since it is is impossible for them to ever recover their capital.

Kimonoe

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In the crypto trading that I have experienced so far, I learned to be disciplined and try to be able to control myself. discipline towards the framework that we have described becomes a reference for conducting transactions, so that we comply with it as much as possible by exercising emotional control to enter the market and exit the market. It sounds simple, but actually it is difficult to do and requires repeated training

livingfree

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About holding and waiting for the right time to sell.

It's an underrated strategy for the day traders only but I know that many of them that does the both thing, holding and day trading. The big profit that I shall get through holding can be done by day traders with that much effort and taking time.

In holding and selling it only when you're on profit is gonna be the easy thing and I've been used to it. Learning through your experience in the past is really a helpful thing for your future plans in trading.

lombok

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Quote from: gabbie2010 on April 03, 2022, 06:55:22 PM

-snip-
Always take profits appropriately irrespective of how small the profit is thus avoid greediness,

This is one of my experiences because I was too greedy, I didn't make a profit but instead I lost, but I feel grateful because of this I can correct my mistake, every position I have I will set SL+ and TP. SL+ here intends to avoid losses where I will put SL+ at a certain price if triggered then my position will come out and get a little profit.

gabbie2010

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Quote from: Odusko on March 26, 2022, 07:06:08 PM

Over some time, I have tried to understand and take advantage of the many possibilities in cryptocurrency trading this emerging venture has helped many to reach their goals. What is the most valuable experience that has been a guide for your cryptocurrency trading?

Always take profits appropriately irrespective of how small the profit is thus avoid greediness, and over trading, once the indicators had signalled a likely price reversal take profit and exist the trade, crypto prices are very volatile from my personal experience as a trader a once profitable trade can end up in a loss within a shortest period of time, Moreso I prefer trading in the beginning of a new day i.e in the beginning of a daily or 3 day chart and monitor the price for a breakout based on trading strategy before entering my trade.

AmoreJaz

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Quote from: bitgolden on April 03, 2022, 01:33:01 AM

Quote from: Odusko on March 26, 2022, 07:06:08 PM

I have tried to understand and take advantage of the many possibilities in cryptocurrency trading this emerging venture has helped many to reach their goals. What is the most valuable experience that has been a guide for your cryptocurrency trading?

Even I am not a short term active trader, I do buy/sell cryptocurrencies for attempting to maximize the hoarding of my bitcoins. When I have been watching some coins, it may look like giving me good opportunity to enter with (at least in long term perspective) but watching with bare eyes will not help anyone. You must analyze with technical tools. One good example was EOS. It was a hugely successful in ICO and gained lots of reputation in crypto communities but when it was available for 5x cheaper, I thought like a good thing to accumulate but after I have invested it fell for another 5x.

Quote from: GreatArkansas on March 26, 2022, 08:51:17 PM

Accepting losses or moving forward for some trades.

Exiting at some percentage of losses will help you in 2 ways. You may prevent further losses and may find a new opportunity to recover your losses with the same capital. In above scenarios if I would have put stoploss around 20% losses then I not might have faced 5x losses.

getting out while you can would be your best option especially if the coin is continuously going down. you may have losses but at least, you still can get something out of it as compared to holding it while its value goes down to zero. and then, you end up nothing. that's what i learned with most eth tokens. sell it while they have market value, because sooner or later, these devs will also disappear and there's no miracle to get back their prices up.

bitgolden

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Quote from: Odusko on March 26, 2022, 07:06:08 PM

I have tried to understand and take advantage of the many possibilities in cryptocurrency trading this emerging venture has helped many to reach their goals. What is the most valuable experience that has been a guide for your cryptocurrency trading?

Even I am not a short term active trader, I do buy/sell cryptocurrencies for attempting to maximize the hoarding of my bitcoins. When I have been watching some coins, it may look like giving me good opportunity to enter with (at least in long term perspective) but watching with bare eyes will not help anyone. You must analyze with technical tools. One good example was EOS. It was a hugely successful in ICO and gained lots of reputation in crypto communities but when it was available for 5x cheaper, I thought like a good thing to accumulate but after I have invested it fell for another 5x.

Quote from: GreatArkansas on March 26, 2022, 08:51:17 PM

Accepting losses or moving forward for some trades.

Exiting at some percentage of losses will help you in 2 ways. You may prevent further losses and may find a new opportunity to recover your losses with the same capital. In above scenarios if I would have put stoploss around 20% losses then I not might have faced 5x losses.

sayaya17

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Quote from: teosanru on April 01, 2022, 01:44:26 PM

Quote from: Odusko on March 26, 2022, 07:06:08 PM

Over some time, I have tried to understand and take advantage of the many possibilities in cryptocurrency trading this emerging venture has helped many to reach their goals. What is the most valuable experience that has been a guide for your cryptocurrency trading?

Patience is the key, Trust me this is a motto that you'll want to keep in your mind and soul if you want to be successful in trading, Crypto trading requires a lot of patience, especially in the times of dip you should know when to exit and stick to your stop loss, you just can't let your trade flow because one day market may recover, because market might recover in a day, a week or maybe in more than an year, but are you willing to hold your capital for such a long span of time? Also by holding this capital you are also suffering in terms of other opportunity gains that you might have made if you would have kept your capital invested.

If anyone thinks that crypto trading can provide instant profits they are wrong. Because like you said patience is the key to success when
trading crypto, sometimes we do have to wait a long time until the price of the coins we have goes up. My trading experience for 5 years
has taught me that patience is the determining factor for our success to be able to generate profits. Actually being a person who has patience is
not only good for trading, but with us being able to be more patient in any case, it is proven that we can be better at making decisions
in our lives. So we really have to try to be more patient when trading, don't be too hasty in making decisions, because the crypto market is
very volatile if we are careless by rushing to make decisions, it only makes it difficult for us to make a profit.

Oilacris

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Quote from: sulendra12 on April 01, 2022, 02:33:14 PM

Quote from: Odusko on March 26, 2022, 07:06:08 PM

What is the most valuable experience that has been a guide for your cryptocurrency trading?

The way of managing my emotions, know when to stop and when to do next action with your tools and indicators, don't chase my losses etc. I have learned so many things during trading and it affects a lot for me not just in trading matters but for my real life behavior where you need to always think before doing something and that helps me a lot for real life matters as well. I'm proud for learning trading cryptocurrency.

Emotion handling
Risk management handling

These are the most crucial things that you should consider on having a good control with.You cant able to sustain this market if you arent able to take a good grasps of these factors.
Trading experience could neither be profitable or totally losses and results arent something to be precisely be predicted or known because market is really that hard to handle out.

sulendra12

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Quote from: Odusko on March 26, 2022, 07:06:08 PM

What is the most valuable experience that has been a guide for your cryptocurrency trading?

The way of managing my emotions, know when to stop and when to do next action with your tools and indicators, don't chase my losses etc. I have learned so many things during trading and it affects a lot for me not just in trading matters but for my real life behavior where you need to always think before doing something and that helps me a lot for real life matters as well. I'm proud for learning trading cryptocurrency.

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