Topic: What have been your crypto trading experience - page 7. (Read 1060 times)

From my experience, my experience is not very good, I started trading 1 year ago today.  So far, I have been patient in trying to recover from the wrong decisions I have made. This does not mean that trading is bad. Learn to do a good market analysis first and then come to trading.  Don't trade everything you have, give as much loss as you can afford.

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.

As a trader, one tends to learn so many lessons that you might have paid little or no attention yo in life. Some of the lessons I learnt from trading or virtual things is that,

1. It ain't about you.
Well, that goes for most regulars on the trading platform and the whales too although, Elon made me think otherwise some time ago, henr his tweet started having a huge influence on the market and could determine what direction it Di assume although, that wasn't for long. In essence, when you are just a strand amongst many  unknowns, your actions doesn't matter much when you aren't trading with the direction of the market. You always have to go with the trend.

2. Having to keep records.
Events do reoccur, perhaps in a different form or under different circumstances but they do and the easiest way to keep track is by having a record. Be it hand written, pictorial or even bookmarked. That's some study material on not just the market but also on yourself and working strategy.

3. Managing my emotions.
Emotions could lead to lots of hasty decisions and its a time where, you tend to ignore what is analytically obtainable. Hence, its something that one has to regulate. You know, just tune off when it goes to making financial decisions, when to enter or get out on  a trade and have no regrets which ever the results may be.

Trading could be fun when you don't go at it like a do or die affair. You just have to tred where you can bare what comes off it.

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.

I have ever shared my own experiences with trading cryptocurrency and these experiences teach me many lessons.
Here are the link:
https://bitcointalksearch.org/topic/--5355731

From the experiences, I can take some lessons and also make some improvement to be better, but sometimes, I am also still doing another mistake.

About the loss in trading, well, I am now at the Spot Market trading type, so I prefer to hold every coin that is still under the price that I bought, make it as long term holding (fortunately I think that most of my portfolio consist of top coins with strong fundamentals), so no need to worry much, justbepatient.
Losing in trading crypto is very common, what we should make is to pay attention on what reasons that make us loss, additionally, we must also learn from our previous mistakes, especially about the way to manage our fundsa nd also emotion, these two things are sometimes very hard to do.

Don't try to bite more than you could chew. If you think you have too much crypto, then you indeed have too much crypto which means you should sell some immediately and buy something else. Otherwise you will panic in a market downturn. I made that mistake and I am telling you this so you won't make the same mistake.

To be honest, what is my point about cryptocurrency trading is if you are not ready to see many loss then don't start day trading, it may look more profitable but it had risk associated with it. Apart from that I only trade bitcoin with stable coin pairs because it is more easier for me to analyse and make decisions.

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.

Being engaged in trading, I deduced for myself a few basic rules:

1) You should never go short.  Short is evil.  As world inflation rises, assets always rise.  In the long run, bear traders always play against the market. 

2) You need to be able to wait for your position to become profitable.  Endurance and composure are the most necessary qualities for any trader. 

3) You need to invest in an asset that has a great fundamental value.  Investing in shitcoins is sometimes profitable, but very dangerous. 

4) You need to buy on price drawdowns, and sell on highs. 

5) You need to be able to believe in the asset you bought (otherwise why did you buy it?)

Stay focus and always have your strategy.
I also into trading for years now with cryptocurrency, not an easy road to make profit but once you manage to build your own strategy and have confidence over it, you can actually make money without having any panic attack or negative emotion towards your trading. Having a bad and good experience with crypto trading can also help you to be better in the future so don't be afraid to make mistakes, keep on learning and always aim for the best trade. Cryptomarket can help you a lot just do your part always.

I think the most valuable experience that I've gained in trading is to never stop learning even though you're not yet there, in a place where you're making profits mostly of your trades. It's still tough sometimes for me because I still mess up my technical analysis and forget something very important to make a successful trade. I, sometimes want to quit because I've lost a quite few of my money in trading while learning.

But it's natural for that to happen because trading is not always about making profits. It's about losing money while gaining knowledge that could bring you profits in the future.

Pretty bad. I've lost more than I earned, and if you consider all the time I spent plus all the stress that was involved, it definitely was a bad experience for me. Honestly the only valuable experience I got here was that I suck at handling stuff in stressful situations and should probably avoid being in such situations next time. My strategy nowadays is just to DCA to save myself the trouble and pain of trading since all the stuff that you need to learn and handle is a tad too much for me.

If you could learn from your mistakes and rarely ever repeat them to eventually not even repeating them ever, then you will become a great trader. A big loss is the biggest lesson you could take, there is nothing wrong with losing money in trading because everyone does so eventually. Even warren buffet has years where he was negative, but when you look at it overall, he is in a big positive and keeps that up for decades now.

This is what you need to aim at, sure you could have bad years but you need ot be long term and successful when trading. There will be losses but at the end of the day you need to be getting better after each loss and becoming better.

Not much guides, just the basics and mostly experiences. The losing part, precisely. That's where you learn most, from all of your mistakes.
If you can get up after all the rekt that happened to you, then you are good.
A trader must accept all the possibilities and that includes losing. Once you get over it, other problems will mostly be easy to deal with.
Even experts in the field are likely to have gone through it and I doubt they will be called "experts" if they didn't make it through.
Satisfaction is also a key, $1 - $10 profits when I started but it felt great for me.

Going to start trading is quite difficult, there are a lot of things that need to understand deeply, need to address, and need to experience. These all are kinda valuable experiences that can teach us to be more motivated and strong about what we want to happen. Perhaps it was gonna be needed hard work and dedication, yet it is really worth enough. Looking back on how I started, those things can't be forgotten and I always remember them especially when I suffer losses.

* patience
* motivation
* don't lost hopes

You would surely able to realize and learnt up things when you do deal with trading into this market, like;

1. You would able to make yourself learn on handling out your emotion
2. You do know on how to have that risk management
3. Meticulous on your capital
4. Smart on taking sentimentals around

Market would give out that very bumpy ride kind of feeling since it is totally random and for you to able to
sustain or survive then you must have those qualities above.

At a time that you do everything possible to your knowledge but you never get the profit coming, I understand such and this is a real experience that you have shared. I think it is still happening in our trade but patient to trade is a little helpful. For a daily trader if we keep checking up on the trade then we can keep making hasty in the decision we take. If we trade like a game with the strategy for our trade we can do better trade.

While learning from your own mistakes is without a doubt a key to become a successful trader it is also important to learn form the mistakes of others, since not only this saves time it also saves you money and a lot of headaches.

But how to do this? And the answer is simple you need to backtest and to paper trade for a significant amount of time, while I know this is not the same as real trading, without a doubt it can help you to avoid many of the silly mistakes that newbies make and that can damage your account to the point that it will be impossible to recover from those mistakes, even if you were the best trader around the world.

I learned to be a person who can control my emotions better. In some of the trades at that time I was in too much of a hurry and didn't do careful consideration, even I was easily emotional with unstable market conditions. Therefore I took it out in the trade I was running, trying to be very stupid but apparently I realized that what I was doing was actually only makes me lose and fail. And now I can learn from it and improve it.

well, a lot of experience in the world of trading which I consider the most important thing in my life. such as experience in losing and re-learning, getting quite a lot of profit, being patient with holding coins, holding scam coins, and others. it became an important lesson for me and shaped the person I am today. however, it helped me to realize that we have to really do research in order to gain, and we also need to be patient when it comes to losses. success in the world of trading can not be obtained in a short time. I think this applies to other things too.