What kind of worst decisions do you take when trading? - page 7.

Barbut

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Quote from: Herbert2020 on June 11, 2017, 02:39:49 AM

the worst decision that anyone can make when trading is to follow what others do.
and it gets worse when you are trading altcoins and have not that much experience in trading. and i see this every day when newbies come in and want to try trading and since they don't know what to do, they just follow others. find twitter posts, telegram groups, pump groups, etc and fall for their scam and waste their money because none of what any of them tells them is useful.

It`s not easy to find right person to follow, but this is the same like when you follow some tipster in sport betting. It`s never smart to follow someone just like that, without checking his trading history, how much money he made or lost, and not every trader have statistic about his work. Best results are from comparing what different traders/tipsters think about the same thing, if you see the concurrence in their predictions then act, if you see that everyone thinks different find other coin to trade with or wait more.

PokerFace3

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Quote from: Armando on June 10, 2017, 09:33:00 AM

My worst decisions were usually selling BTCs I had to USD.... although I made some really nice returns few times, if I never sold my BTCs I would be very very very rich now Roll Eyes

This is no big deal mate. At least you got at that time from it what you were expecting.
There are many people around who use to talk about it but I don’t think it is a mistake if you didn’t require the fiat at that time and you sold it for no reason then it could be addressed as a blunder but if you were in need and you sold it then you should be thankful. Also you are still in the line to earn so buy and earn more and store it for the future.

Bowly88

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Quote from: CROYA86 on June 10, 2017, 06:46:06 AM

If I go wrong because it is still new in trading, when I was wrong to see and read the MACD chart should I sell instead of buying, I was buying high prices within 5 minutes direct price dropped dramatically.

How did your trading experience make the worst decisions?

Well the worst trading that I have experienced is selling my xem last year where in I'm holding almost 40k xem that time. Unexpectedly, it flactuates and I have nothing to do but to watch it since it's too late for me to buy since it could dump/volatile. However, this worst decisions has been relief as I bought 1k waves last month and it doubles up its value which makes me satisfied.

Herbert2020

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the worst decision that anyone can make when trading is to follow what others do.
and it gets worse when you are trading altcoins and have not that much experience in trading. and i see this every day when newbies come in and want to try trading and since they don't know what to do, they just follow others. find twitter posts, telegram groups, pump groups, etc and fall for their scam and waste their money because none of what any of them tells them is useful.

Faiyz

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Dijual

Quote from: RedNovember on June 10, 2017, 09:27:38 PM

I tend to hoard coins when the price is high and sell when it's low

Panic selling...horrible habit

How to overcome it? I don't want to sell when high because I'm afraid I'll miss out on higher price

I was just so laxdy to speculate and read an altcoin. I was just an easy victim where if many people say its good then i go. And also like minutes of regret. Price was good in a minute but the next thing you it has dropped. Most of my frustrations during the early days were like that. I even try luck and just invest in it and compair it to other altcoins that is increasing and i always believe that new altcoins has potentialos without even realizing its true purpose.

RedNovember

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I tend to hoard coins when the price is high and sell when it's low

Panic selling...horrible habit

How to overcome it? I don't want to sell when high because I'm afraid I'll miss out on higher price

machinek20

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Panic selling is my worst decision, when I saw the price fall down, I tend to become anxious and keep wanting to sell my coin although I am losing money, last time I did this in the next day the price went up and I really regret that I lost my control and sold that coin

bitbunnny

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Well, at the begininig I thought that trading is easy. You buy low, sell high, what could go wrong? But soon with my first experiences I realised things are far more complicated than that. And one of the worst decisions I've made was to trade with borrowed Bitcoins. I borrowed some coins at not so good conditions, my trading strategy went wrong and I was in troubles.

chaser15

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Quote from: CROYA86 on June 10, 2017, 06:46:06 AM

If I go wrong because it is still new in trading, when I was wrong to see and read the MACD chart should I sell instead of buying, I was buying high prices within 5 minutes direct price dropped dramatically.

How did your trading experience make the worst decisions?

MACD is just a reference. In world of cryptocurrency, chart readings only applied for long term coins but for me still not a major thing to considered as fluctuations is really heavy and can destroy chart readings.

Don't buy when price is increasing, let them slow and wait for the correction. Don't sell when the price is already a bear market. Just want to clear things that this can't be applied to all coins as like I said, the fluctuations is really heavy and most of the scenario is manipulation.

Barbut

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Worst decision for me was day trading, that is not for me, maybe that is not even a decision that I made it`s something that I jumped in for the first time and II was learning about trading. I just lost money with that kind of trading, I don`t remember that I ever made some profit with day trading. Only when I started to buy and hold some alt`s for a longer I started to make some profit from invested money.

Jody.Drummer

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Wrong prediction when doing that trade that made the decision difficult,
And suffered the loss for sure.

Kemarit

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Quote from: CROYA86 on June 10, 2017, 06:46:06 AM

If I go wrong because it is still new in trading, when I was wrong to see and read the MACD chart should I sell instead of buying, I was buying high prices within 5 minutes direct price dropped dramatically.

How did your trading experience make the worst decisions?

Not holding for a coin that long. I made the mistake of selling it right away when I saw the price jump. One of my newbie mistakes really. But now I have matured enough and not be carried by FUD's around in our forum. Although I have profited, I should have make more if not carried away by the panic selling. But now I make my own judgement on when to sell or just hold on my crypto's. Right now I'm just buying a few coins with cheap price and really holding it for a longer time and who knows maybe the coin I got will be the next big thing in the future.

melted349

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Quote from: CROYA86 on June 10, 2017, 06:46:06 AM

If I go wrong because it is still new in trading, when I was wrong to see and read the MACD chart should I sell instead of buying, I was buying high prices within 5 minutes direct price dropped dramatically.

How did your trading experience make the worst decisions?

For me the worst thing I did in trading when Iset the sell order I late notice that my sell order is missing one zero when I check it I'll already sell my coin Grin

. And that's means lost for me. And another one is not buying eth when I have time to buy it cheap and now the price is skyrocketing.

Loco Motive

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The most important thing is learning from your mistakes, that way you can consider the losses as "learning fees" and never repeat them again.

One of my biggest losses was buying a coin on Bittrex only out of "gut feeling" but with a small portion of my portfolio (that was the only good thing in retrospect), as the price dropped i couldn't admit that i was wrong and i kept averaging down, buying more and more of the coin and getting trapped in a huge unwanted position.
In the end the pain was too much and i had to sell at a loss of 80% (consider that the entry price was even lowered by my continuous averaging down, still 80% loss), but the real problem was that that position was huge so 80% loss meant like 30-40% of my total portfolio.

I never repeated that mistake again Wink

iluvpie60

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Mine was when I bought into digibyte the other day. They were in a contest where they were competing for a prize that Citi and other large organizations were hosting. There was a lot of buy buy buy in the air..

Unfortunately the price went up to 2,500 satoshi max and that is where I bought some at. They lost the contest and price immediately nose dived within hours of me buying some. Gotta love it! But I knew it was risky.

omonuyak

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Quote from: CROYA86 on June 10, 2017, 06:46:06 AM

If I go wrong because it is still new in trading, when I was wrong to see and read the MACD chart should I sell instead of buying, I was buying high prices within 5 minutes direct price dropped dramatically.

How did your trading experience make the worst decisions?

my was not a wrong decision per said but I mistake click buy instead of sell in one of my trading ordered and I lost heavily through that mistake. Many people has different experience during trading and I have also buy a coins when the price is too high and before I know the price will drop as if it was waiting for me to drop.

gabmen

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Quote from: CROYA86 on June 10, 2017, 06:46:06 AM

If I go wrong because it is still new in trading, when I was wrong to see and read the MACD chart should I sell instead of buying, I was buying high prices within 5 minutes direct price dropped dramatically.

How did your trading experience make the worst decisions?

Everyone who's new to trading surely came across this mistake of being impatient and anxious when looking at the movement of coins in real time. Though one things I realized is that if you're trading, the charts are a big help to know the path of the coin you're planning on buying and that most successful trades are done for longer intervals. That means that it's irrelevant that you're looking at the coin movements every single minute because you're just going to be anxious if you see a drop then sell in panic which means loss of profit for you. Remaining patient is the best thing you can do especially if you're new.

Armando

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My worst decisions were usually selling BTCs I had to USD.... although I made some really nice returns few times, if I never sold my BTCs I would be very very very rich now Roll Eyes

Smarty14392

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If you sell someone insisting to purchase a particular coin, then its know as pumping coins. They pump or burst the coins.
The worst experience i had was purchasing POSW coin in Yobit at 19k satoshi. But now its price is around 2k satoshi. This usually happens many times in trading.

~Bitcoin~

legendary

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The worst decision I have made recently was buy buying XRP at around 19000 satoshi and price is less than half right now so already in 50% loss Angry

Don't know why I have bought it at that high price, price have touched over 22,000 satoshi and dropped to 19k so I thought it will have another round of pump but in reality it dumped hard Embarrassed

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