Topic: What was your experience trading cryptocurrency? - page 7. (Read 1236 times)

Use the past mistakes as weapon,and right learning is one of the best strategy before entering and putting your money.
But you can start trading in free cost by using some exchange offerings so you will learn in actual trading without
spending a single penny and after you have learn then start using small money as starting capital and check good
 exchange in BestChange platform here https://www.bestchange.com/ maybe you will find the best exchange
 that will fits your desire fees and support and also the higher the rates in exchanging is the most important thing.

learning technical analysis is indeed quite difficult if you do not have much time. I, too, but at least understand little by little about the technical basics of analysis. Being an investor must also know when to make a purchase and when to sell to benefit from the investment made. Long-term investment is a profitable investment if you get a good project or coin.
in addition to technical analysis, Fundamental science is also needed to find out the latest news that is happening in the world of cryptocurrency or the world of investors.

I went a long way since I started trading. I fisrt got into trading altcoins because I thought I should differentiate and hold more than one coin and Bitcoin looked expensive.

Later I grew up gained experience and begun to understand the market better. Got rid of most altcoins that I held and bought Bitcoin. Started trading it and then went through another phase where I stopped trading and turned into a Bitcoin hodler because I was finally able to afford my first bitcoin.

I'm not going back to trading. Sometimes I do it for fun with a small amount of money but holding was what brought me the biggest profit.

Did that already. Thanks!

You made a whole lot of sense here! Trading is not something you rush into.

It is like a flower which you water in order for it to grow.  The water is your personal effort you put in.


Failure to accept risks turns out to cause pain.
Everything has an attached risk.
Great point!


At least you got your money back 


We were all manipulated at the beginning and some of us are still being manipulated.


I'm happy you know this.



Its best you do what suits you and what works for you! 

Trading is good, but technical analysis is something I'm finding difficult to do. It's not that I am lazy, I don't think I am, but because I'm always busy and I don't get the time that's needed to learn all that and get perfect in it. I have job I'm doing already and I spend most of my time working and only gets a short time to look into cryptocurrency, read news and do other things I want to do, so doing technical analysis is like a big stress for me so I don't look into it, and that's why trading is not really my thing.

I have tried options trading and forex trading, and I have also tried cryptocurrency trading. Right now I'm just an investor, and I invest and wait for long term before making profit.

Not all has a good experience in trading though. And it's not an easy way to earn actually it is a complicated field. you have to learn many tools like fundamental and technical analysis buy yhat doesn't guarantee you 100% to make a profits all the time because our enemy is the volatility of the market.
 
 I wanted to turn into another field which is Forex tradingz too. But I know myself that I am not yet ready and still having a hard time into crypto tradings. If by a good chance, I am confident enough to say that I am a good crypto trader then by then, I can try forex trading.
 
 Just do not rush things and remember that trading is not easy and needs time and effort.

Forex trading is fraught with risk if you don't know the mechanism of trading on Forex. Unlike trading in cryptocurrency, when the price of an asset drops, it will remain in our account, but its value decreases.
Many of my experiences in cryprtocurrency trading, profit and loss have become commonplace, have withheld several altcoins and did not provide any benefit. Until now I am still active in the world of trading, and now I am switching to the Future Binance Trading platform which is more efficient but still has a high liquidity risk.

When I trade I always buy high and sell low. I don't know what is wrong to me but I always got caught by the hype. I always ended up becoming a hodler. Emotion plays a big part in trading, if you have weak emotion you can be easily manipulated by someone who proclaims to be an expert.

There were a lot of things. It’s clear that at first he leaked half of the deposit. Then he came to another exchange, with a large number of m coins, and bought the first coin that came across. After 30 minutes, he could have + 33%, did not sell. Then I had to sell at the purchase price.

Everyone has the same mindset way back those years because it's the era of ICO. Many thought that there will be something new that can kick bitcoin out of its place but it's proven to be a wrong mindset because bitcoin will remain at the top.

Those lessons and experiences that we've learned during those times are helpful if you apply it in today's time. Investors, trader or holder, there's always an attached risk that we have to remember.

To begin with you should probably move this thread to the trading section of the forum since that section seems to be the right section for this topic.

My experience trading bitcoin has been in fact positive but that is because I have dedicated an enormous amount of time to try to learn how to trade, anyone that dedicated just a few days or weeks is bound to eventually fail, trading is a very deep subject and there is no one that can master it so quickly, not only that even if there are many ways to trade that could be profitable there are only a few that could be right for you, also it takes a lot of time to backtest your strategy so you make sure that it actually works, when you combine all of these factors it is really no wonder why so few people are successful, so my recommendation is that before you pick a new instrument to trade that you try to find the reasons of why failed and then you correct them.

You must have been unstoppable on your virtual account  

I believe the volatility and instability in trading crypto pairs is way too much for a novice.
It's better one starts from a market with the least volatility, then scale up.

If only we could all trade like robots and get rid of emotions  


I remember so many times back then when i close my positions in small bit of losses just cos i couldn't react properly to the switch in price. Never knew the losses were accumulating in my trade history.

Eventually, my trading balance was transferred to my trading history  


Starting ones trading journey from the right source is very key to reaching consistent profitability quickly.
One wouldn't really find much useful content on youtube.
There are courses on cryptocurrency you can take that is fully based on crypto trading. You can PM me to check it out.


It's fantastic to hear this!

You have the passion.


Often times, novice are sold the dream of trading.
If you go on social media, you find a lot of "traders" flexing super cars and it makes you see yourself in their position in a short period of time. (although most of the so called "successful traders" usually fake it!)  

One needs to focus more on the knowledge. The money will come automatically.



We all had our fair share of lessons.

Seems we all got burnt  

It was of course disastrous for me with no experience and knowledge i quickly ventured in it without the required preparations underestimating it as simple and easy. But my plan to earn money quickly backfired at me and my investment got burned.
So I've change strategy to holding long term instead of day trading.

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quickpayportal

I tried trading before way back 2019 when my friend told me about this, at back 2019 when I asked him about the ways on how he earn money and he recommended the trading, with having a reminder that I shouldn't tried this unless I already have knowledge and skill about it but I don't listen on him so I started trading even though I don't have enough skills and knowledge about it, I watched tutorials on YouTube about finance good trading and I really amazed on some people who earn so much money doing it, but upon trying it, I realized that it is not that easy as what I had watched on YouTube. Yes I lost money from doing it as what other beginners had experienced before.
Both trading and investing are profitable, but both things are risky so in order for you to lessen the risk of losing your money, you should have skills and knowledge first before trying it.

We had different experiences about trading, some have good and bad experiences, on my own experience, I can say that it's not that good for me, I had some trading experience where I won and there are also some trading experience where I had lost money, but if I am going to compare both things I can say that I lost my money in trading.

Bu leaving is not my option, I am still trading as of this days, even though I already lost huge amount of money from here, I still working from it because it finds so good for me I always entertained when doing it. May be I don't have still enough knowledge and skills about it so I always ended up losing it.

As what other traders have been experienced in trading, I had lost my money from doing it, I tried trading before when I was don't have enough knowledge about it, I became interested from it because of some videos I watched on YouTube, it seems like easy money when you watch it on YouTube but if you are going to try reading, it would be hard for you to make your money profitable especially if you don't have any skills and knowledge about it.
After losing that money, I quit trading, I didn't explore it anymore because I don't know where I can get skills about good trading.
Indeed, I tried trading before when I was a beginner, I don't have skills and enough knowledge it, I just tried it because of some videos I had watched from YouTube but I realized that it wasn't enough for good trading so I ended up losing.

This, not for everyone and not for the faint of heart. Because the price can suddenly switch in minutes and majority of crypto traders specially those who are new don't know how to react properly and got burned.


I would say that I also have a so-so performance when I was just a newbie trader. Every trade was a nerve nerve wracking to me. Specially thinking that if I did the right move and even withdrawal or deposit back then was causing some stress on me, Lol. But it give me some confidence and experience to continue and ways to look for more profits.

I did virtual trading before I put a large money on my real account and I thought that I was fully ready but when I put real money, everything is different. When we do trading, emotions are main factors and it can affect our decisions and it is the reason why we should be aware on our thoughts, ego and our current state of mind.

It is hard to trade especially for beginners because it still the start of adapting the volatility of the market, but time will past and we can get used to it. Cryptocurrency trading can become consistent if we will commit to our mastery.

Yes the mindset and psychology general matters a lot.
I did learn a lot. i don't regret anything.

Oh thanks!
Done that!


I'ts very nice you had targets for your investments.
The greed factor was playing on my psychology back then.


I really only traded on major exchanges with a lot of volume.

Those upcoming exchanges are never the best when it comes to trading as you might not get to sell your crypto holdings in profit due to little trade volume.


I've also fallen victim of scam sites.  
I was happy i was getting monthly returns. It crashed after the first month; i had re-invested all my capital + my profit!

I'm happy we all had our fair share of lessons


Actually, on the contrary, i know successful traders in the crypto-space. There is a way to go about it.

successful leveraged crypto traders get to enjoy high Risk to reward ratio compared to Hodling.

What matters is finding an edge that works in the crypto market and using proper risk management alongside.

A lot of us really don't accept the risk involved in placing a trade more the reason psychology plays us.


i'm happy you found what works for you!

The Get-rich-quick mindset never pays off!

I hope a novice trader will go through this thread and avoid grievous mistakes.

It was of course disastrous for me with no experience and knowledge i quickly ventured in it without the required preparations underestimating it as simple and easy. But my plan to earn money quick backfired at me and my investment got burned.
So i've change strategy to holding long term instead of day trading.