What is that psycological on trading? - page 3.

ShadowBits

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Quote from: wiro212 on April 28, 2018, 04:59:44 AM

Have you ever bought altcoin but after that the price actually decreased deeply? After many times it becomes bad suggestions for me every time I will buy, any suggestions from you who have traded more experienced than me? What's wrong and needs to be fixed? Thank you

That is explain if your mind is strong enough to accept defeat in trading and take all of those losses and move on. There are more opportunities next time.

painmaxx

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Psychology in trading is not to sell its assets when their price falls and buy new assets when the price went up. There is an endurance and calmness.

Matthewmorris4

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Quote from: elimi on April 29, 2018, 11:35:07 AM

Quote from: wiro212 on April 28, 2018, 04:59:44 AM

Have you ever bought altcoin but after that the price actually decreased deeply? After many times it becomes bad suggestions for me every time I will buy, any suggestions from you who have traded more experienced than me? What's wrong and needs to be fixed? Thank you

Sometimes we get stuck by the price we already consider that the lowest price but actually the price can still go down again. If I think it's good to make some buy orders. And control your emotions

however, its better that we need to analyze the chart first and look till how deep the alt will gonna through. if we just make some buy order and keep buying after each the price decrease 5-10% i think that was bad decision.
and also look is that any event that affect why those altcoin keep decreasing ?

elimi

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Quote from: wiro212 on April 28, 2018, 04:59:44 AM

Have you ever bought altcoin but after that the price actually decreased deeply? After many times it becomes bad suggestions for me every time I will buy, any suggestions from you who have traded more experienced than me? What's wrong and needs to be fixed? Thank you

Sometimes we get stuck by the price we already consider that the lowest price but actually the price can still go down again. If I think it's good to make some buy orders. And control your emotions

batang_bitcoin

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Quote from: wiro212 on April 28, 2018, 04:59:44 AM

Have you ever bought altcoin but after that the price actually decreased deeply?

Yeah I can relate to this and I felt bad for buying that altcoin (I won't disclose what that altcoin is) because after buying it, I believed that it will go crazy and gonna pump but I was wrong. I entered with the wrong timing and the pumping scene has been done. But good news is that I'm starting to recover my loss from the biggest correction that I've witnessed in my entire life.

Quote from: wiro212 on April 28, 2018, 04:59:44 AM

After many times it becomes bad suggestions for me every time I will buy, any suggestions from you who have traded more experienced than me? What's wrong and needs to be fixed? Thank you

We shouldn't buy during the hype and we don't need to feel FOMO because that triggers us to buy more. Don't be greedy and be contented with your potential profit.

Balab01

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It is very often to speak in general because very much depends on coin , which you trade. I rarely buy coins on a strong dump.

Caesar-Giulius

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I suggest you to research about the Altcoin and read up on news about it before investing. Another factor is to look at current market situation. Lastly and most importantly, look out for any updates in development that causes the price rise and whether it make sense.

hamster fat

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When you trade in the market, then you face different psychological moments. In the market there are always emotions, there is always a fear of losing money and greed to make more money. Often such emotions interfere with good work.

shirackjs

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I experienced this situation when I first started in crypto investing. After that, I learned to question myself whether it is fomo before I rush to buy a coin. Since your coin price has depreciated, maybe it is a good time to buy in more to lower the average buying price.

Good luck!

Alex077

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Quote from: wiro212 on April 28, 2018, 04:59:44 AM

Have you ever bought altcoin but after that the price actually decreased deeply? After many times it becomes bad suggestions for me every time I will buy, any suggestions from you who have traded more experienced than me? What's wrong and needs to be fixed? Thank you

No matter how experienced are you: you'll always face the situation when you buy altcoin, and it drops immediately or in a few days. First of all, you should purchase perspective and right altcoins, then even if the price falls, after a while, it would recover and even grow, and the second one - you need to understand how market moves, then stop buying at highs and selling at lows.

Red-Apple

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Quote from: manlyxman on April 28, 2018, 05:59:52 AM

Quote from: maxim000 on April 28, 2018, 05:54:00 AM

Psychology on trading is to earn maximum profit so any turbulence in bitcoin will affect altcoin and is going to affect the chemicals released in the body. Sudden inflation will lead to quicker heart rate and the tendency to ponder upon whether I should hold or sell, psychologically one feels high and greed creeps in. If followed by sudden drop in the price, the thought process again will be affected leading to anxiety n palpitations. So remain vigilant, calm and psychologically relaxed to pursue your goals.

Well said. FOMO is a serious threat that many traders fall to. And not enough of them hold too.

FOMO can also be profitable if done right!
when people buy based on Fear Of Missing Out, they are fearing some actual rise and missing out on that actual rise. so if with that fear they also use some brainwork and see if it is already too late or if there were still time, they could determine whether they can still make money.
also it is trading that we are talking about which means even if you bought in too late and saw the drop, you can still use "stop loss" to save your ass and get out with a tiny loss instead of a big one. and tiny losses are nothing in trading.

Viscera

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The best entry on trading is the bear market and not on bull market. If you are experienced trader then you know what it takes to get profit. The best thing you can do is accumulate when market is bloody and hodl. Buy low and sell high that's what you can do for now. In crypto you need to read news and everything that is cover by altcoins. same goes to our mother coin bitcoin.

uletkeket

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I think that your psychology in trading like my psychology when I was gambling. I ever felt like what you felt. When I addicted to trade like playing game I'm so hard to stop my activity until my capital is loss. I suggestion you can stop your activity for some time and evaluate your wrong. Maybe you can change your strategy, risk management, and never break the rule that you have made. Good luck!

manlyxman

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Quote from: maxim000 on April 28, 2018, 05:54:00 AM

Psychology on trading is to earn maximum profit so any turbulence in bitcoin will affect altcoin and is going to affect the chemicals released in the body. Sudden inflation will lead to quicker heart rate and the tendency to ponder upon whether I should hold or sell, psychologically one feels high and greed creeps in. If followed by sudden drop in the price, the thought process again will be affected leading to anxiety n palpitations. So remain vigilant, calm and psychologically relaxed to pursue your goals.

Well said. FOMO is a serious threat that many traders fall to. And not enough of them hold too.

maxim000

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Psychology on trading is to earn maximum profit so any turbulence in bitcoin will affect altcoin and is going to affect the chemicals released in the body. Sudden inflation will lead to quicker heart rate and the tendency to ponder upon whether I should hold or sell, psychologically one feels high and greed creeps in. If followed by sudden drop in the price, the thought process again will be affected leading to anxiety n palpitations. So remain vigilant, calm and psychologically relaxed to pursue your goals.

realaccountakira

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Quote from: wiro212 on April 28, 2018, 04:59:44 AM

Have you ever bought altcoin but after that the price actually decreased deeply? After many times it becomes bad suggestions for me every time I will buy, any suggestions from you who have traded more experienced than me? What's wrong and needs to be fixed? Thank you

I feel you. Every time i buy something it's value seems to go down. When i sell something it's value seems to go up. It seems to never go my way. Just goes to show how much smarter and manipulative the whales of this market are. They can time the market sentiment exactly when majority of the people will be thinking something and use that to their advantage.

This is why i discourage newbies from doing crypto trading. Until you learn to think like a predator you should just be doing practice mode using Excel. Just do pretend trading first.

Angelia46

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When prices fall sharply, you should consider buying at this point.
When prices rise sharply, you should consider selling at this time.
Always be rational.

OluwaTosin10

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Quote from: wiro212 on April 28, 2018, 04:59:44 AM

Have you ever bought altcoin but after that the price actually decreased deeply? After many times it becomes bad suggestions for me every time I will buy, any suggestions from you who have traded more experienced than me? What's wrong and needs to be fixed? Thank you

In situation like this, make sure you find out every information yourself and don’t read fomo or hypes, they are not positive while investing
Similarly you simply have to fix your courage and decision making
It will help you a long way

talkbitcoin

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All I know is that I know nothing.

Quote from: wiro212 on April 28, 2018, 05:25:01 AM

thank you for a great advice, any special sign to marked the bubble will end?
any suggestion for me to figure out a good trade knowledge? especially cryptocurrency trading. Thank you

it is impossible to know the end which is why i always set a profit percentage that satisfies me. i varies from coin to coin and it depends on the trend itself. sometimes the pumps are too strong so you can expect even 100% profit from them. but i try to also not get too greedy. reaching a balance is the key.

also after some times trading and watching the market (the charts) you can see some signs like drop in volume and speed of the rise, double tops and resistance that can't be broken anymore and stuff like that.
trading in my opinion is all about having that experience and that can only be gained by spending a lot of time watching the charts.

wiro212

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Quote from: talkbitcoin on April 28, 2018, 05:03:58 AM

since i have had that problem in the early days of my trading journey i can tell you that the reason for losing money after you buy something is that you are always buying that thing too late. the reason for that can be different. usually it is because when some altcoin is pumped that altcoin will start being advertised a lot and that leads some beginners to believe that altcoin really has some potential so they buy it not knowing they are buying into a bubble and after the pumping phase ended. and surely enough after that phase will cone the next phase called the dumping.

thank you for a great advice, any special sign to marked the bubble will end?

Quote from: talkbitcoin on April 28, 2018, 05:03:58 AM

the solution is simply to
... stop listening to the hype
... start looking at the charts
... learn what a pump and dump looks like.

any suggestion for me to figure out a good trade knowledge? especially cryptocurrency trading. Thank you

Topic: What is that psycological on trading? - page 3. (Read 321 times)