the most important lesson i have learned in my trading experience was to not rely on instinct
In trading ,instinct gives you false hope and faith that will keep you holding on to your trade that will eventually might empty your wallet.
Topic: What is the most important lesson you have learned in trading. - page 5. (Read 1153 times)
The best tool to trade is to always put the STOP LOSS for me and the first one gives the main and the most important so you can operate and trade with all the serenity
I learned that trading isn't made for me. I don't have the patient to hold coins longer then a few weeks. I also experienced that when i bought coins, it went down and after i sold some they went up. So after admitting I wasn't a good trader I just stopped it. Maybe I will try it next year. Maybe I got some more patient.
Trading successfully, depend on your skills and how patients you have about trading. I have read this several time and people saying "that whenever their sell the market do going up and when their holding the market do go down"! The solution to that type of happening is to become patience when you have decided to hold. The reason why we do sell when bitcoin or any coins is going against our position is because the price most get down or up a little before taking a new direction. You most be ready to take risk and that risk is to help you maintain your stability before the market take a directions to your favour. 
The most important lesson for me is not to panic. You should always have a strategy and should never deviate from it. Or only as a last resort when it is expedient. Do not give the opportunity to panic to seize you. It's never gonna end good.
I learned that trading isn't made for me. I don't have the patient to hold coins longer then a few weeks. I also experienced that when i bought coins, it went down and after i sold some they went up. So after admitting I wasn't a good trader I just stopped it. Maybe I will try it next year. Maybe I got some more patient.
What significant lessons I realized with trading was, getting the great shot while a chance to sell at gainful cost is there. Try not to think about another conceivable ascent once your advantage built up an economical worth which will give you a potential advantage which that sum will give you enough assets to take great consideration of your needs.
2 important things:
- bag holding altcoins is never a good idea
- setting a fixed profit target in each trade and never deviating from that.
of course these two go hand in hand. which means in practice whenever i enter an altcoin, i enter those that are pumping and then i set a profit target for myself to cash out as soon as i hit that target and i always try to stick to it even if i saw the pump going on i still get out to secure my profit.
- bag holding altcoins is never a good idea
- setting a fixed profit target in each trade and never deviating from that.
of course these two go hand in hand. which means in practice whenever i enter an altcoin, i enter those that are pumping and then i set a profit target for myself to cash out as soon as i hit that target and i always try to stick to it even if i saw the pump going on i still get out to secure my profit.
Emotions. When I was a beginner, it's hard for me to check my emotions, resulting to almost 0 profit because I'm easily affected by the negative news. But as I mature, I learn how to play with it, and not be emotionally impacted that comes along the crypto sphere specially those FUD that people spread around this community. I also did learn some TA, though I'm not an expect but at least a beginner's level so that I will understand some TA jargon and understand what they really meant with the graphs around.
I have been in forex and stock market for more than 10 years and I have learned a lot of things and I am trying to unlearn many things in other to focus on the one that works. Many people do keep a trading journal but I have never done that. I only write done my trading plan and strategies. In 2017, I came into cryptocurrency trading and tried to abandon the forex and stock trading and though there look similar I see some differences in stability and volatility. Cryptocurrency is volatile and in a few minutes, you can lose all your capital or miss a great opportunity. the greatest thing I have learned is: when people are commenting "bitcoin is going to $20,00, bitcoin is hitting $50,000 before the end of the month! Be careful and sell because the market is about to reverse. If people started commenting that bitcoin is falling to $5500 or $3000" it means the time to buy and I have followed this simple strategy in trading and it seems the best investment strategy that follows professional's stocks investors trading principles. I will like you to share your stake on this so we can all learn.
So meaning it's clearly from your thoughts bitcoin moving their price up and down because of speculative not because of volality fluctuations.
I think trasing is all abput knowledge and skill how to get earn focus and qulity to minimize the riak, yes that is truly correct bitcoin or crypto trading isvery risky if you trade wothout learning and lack of knowledge.
I have been in forex and stock market for more than 10 years and I have learned a lot of things and I am trying to unlearn many things in other to focus on the one that works. Many people do keep a trading journal but I have never done that. I only write done my trading plan and strategies. In 2017, I came into cryptocurrency trading and tried to abandon the forex and stock trading and though there look similar I see some differences in stability and volatility. Cryptocurrency is volatile and in a few minutes, you can lose all your capital or miss a great opportunity. the greatest thing I have learned is: when people are commenting "bitcoin is going to $20,00, bitcoin is hitting $50,000 before the end of the month! Be careful and sell because the market is about to reverse. If people started commenting that bitcoin is falling to $5500 or $3000" it means the time to buy and I have followed this simple strategy in trading and it seems the best investment strategy that follows professional's stocks investors trading principles. I will like you to share your stake on this so we can all learn.
the most important thing which i have learned in a hard way is an old market wisdom..."the market can longer be irrational than you are stay solvent" totally true. the other thing is: don't get to greedy if you had a good run with the latest trades cool - enjoy it. hard to understand and follow that rule. mind and emotions are playing with you.. if you fell for it you have lost.
What I found for myself in trading, you do not have to trust anyone and listen to anyone. Only your head and your observational and analytical skills count, nothing more. I rely only on myself, if I make mistakes, it is my own fault
I agree, that all of our trading strategies will be depend in ourself because we are the only responsible for the gains and loss of our capital that's why it is important if we do our own research and do not rely in anyone before starting to trade so that we are ready for the possible failures that we may encounter and can be resolved by our own ideas because of being knowledgeable about trading cryptocurrency. as Warren Buffett says "Be Fearful When Others Are Greedy and Greedy When Others Are Fearful"
It's funny that Warren did not use his own quote and buy Bitcoin in the last bear market.
The most important thing I've learned is not to allow your emotions to take over. When you get scared you can't sleep and keep thinking about the investment and if it will be up or down when you wake up and then when you sell you feel accomplished like you got rid of a burden. If you start feeling like this fight it and don't give in.
When it comes to emotion thing
-Dont try to be perfectionist
-Dont chase your trading loss
-Dont be greedy
-Always set-up and make analysis anytime with your entries and exits.
-Dont try to be perfectionist
-Dont chase your trading loss
-Dont be greedy
-Always set-up and make analysis anytime with your entries and exits.
the greatest thing I have learned is: when people are commenting "bitcoin is going to $20,00, bitcoin is hitting $50,000 before the end of the month! Be careful and sell because the market is about to reverse. If people started commenting that bitcoin is falling to $5500 or $3000" it means the time to buy and I have followed this simple strategy in trading and it seems the best investment strategy that follows professional's stocks investors trading principles. I will like you to share your stake on this so we can all learn.
this is beautiful... just as you meant above, what I learned while I was in trading is controlling the issue. success or failure when trading is determined by your ability to manage emotions and the things that have the most influence affect the emotions of traders are outstanding issues, bad news and the good news. There are some lessons I've learned:
- Do not trust anyone, especially those who claim to be experts in the analysis.
- The more price collapses the more rising to the moon: BTC always rises so do not lose hope when the price collapses, buy more.
- Do not put all your coins in one platform: Platforms are not like banks No one guarantees your coins.
- Keep your private key in a safe place: It may not show investment advice but what is the point of investing if you can’t protect your currencies.
- Do not trust anyone, especially those who claim to be experts in the analysis.
- The more price collapses the more rising to the moon: BTC always rises so do not lose hope when the price collapses, buy more.
- Do not put all your coins in one platform: Platforms are not like banks No one guarantees your coins.
- Keep your private key in a safe place: It may not show investment advice but what is the point of investing if you can’t protect your currencies.
There are several rules that I have understood during the time I have been trading. Suppose, they will be good for all.
- Make Bitcoin the base of your portfolio.
Bitcoin is the first and largest cryptocurrency. It will always be the basis of a cryptocurrency market.
- Follow the ten largest cryptocurrencies
- Capture a portion of the profits and do not trade too much leaving some altcoins in your wallet.
What I found for myself in trading, you do not have to trust anyone and listen to anyone. Only your head and your observational and analytical skills count, nothing more. I rely only on myself, if I make mistakes, it is my own fault
as Warren Buffett says "Be Fearful When Others Are Greedy and Greedy When Others Are Fearful"
and there's another saying with similar notion, "Buy on Fear, Sell on Greed"
so... when FUD starts, we should be getting ready to buy on panic sell
then when people becomes greedy (price spikes high), get ready to sell off
and there's another saying with similar notion, "Buy on Fear, Sell on Greed"
so... when FUD starts, we should be getting ready to buy on panic sell
then when people becomes greedy (price spikes high), get ready to sell off
One of my most important lessons is never to trust the centralized cryptocurrency exchanges nor invest what I can't afford to lose.
Your investment strategy mentioned in your post is actually a good strategy.
I think most people do forget that aspect when they get carried away by hype
Your investment strategy mentioned in your post is actually a good strategy.
I think most people do forget that aspect when they get carried away by hype
There are some lessons I've learned:
- Do not trust anyone, especially those who claim to be experts in the analysis.
- The more price collapses the more rising to the moon: BTC always rises so do not lose hope when the price collapses, buy more.
- Do not put all your coins in one platform: Platforms are not like banks No one guarantees your coins.
- Keep your private key in a safe place: It may not show investment advice but what is the point of investing if you can’t protect your currencies.
- Do not trust anyone, especially those who claim to be experts in the analysis.
- The more price collapses the more rising to the moon: BTC always rises so do not lose hope when the price collapses, buy more.
- Do not put all your coins in one platform: Platforms are not like banks No one guarantees your coins.
- Keep your private key in a safe place: It may not show investment advice but what is the point of investing if you can’t protect your currencies.
the greatest thing I have learned is: when people are commenting "bitcoin is going to $20,00, bitcoin is hitting $50,000 before the end of the month! Be careful and sell because the market is about to reverse. If people started commenting that bitcoin is falling to $5500 or $3000" it means the time to buy and I have followed this simple strategy in trading and it seems the best investment strategy that follows professional's stocks investors trading principles. I will like you to share your stake on this so we can all learn.
In short, you re being a contrarian and you are doing the opposite of what the mass people or investors are doing. This is one lesson that I learned too in trading aside from being patient. Being a contrarian is good for mid to long term trading but not for short time I think. Jump to: