Topic: What was your experience trading cryptocurrency? - page 8. (Read 1210 times)
Hello everybody. Cryptocurrency trading has always been more volatile than conventional markets. I know little of people who successfully trade the assets of the cryptocurrency market, at least they started almost everything with bad experience. I also consider myself a loser. I am talking now about trading with leverage. I still believe that only holding can be successful in cryptocurrency trading. Maybe I'm wrong, moreover, I agree with those who argue that cryptocurrency can and should be traded. Personally, my experience is that it is not successful, so I chose the tactic of simple waiting, I wait for the price to drop and just buy with all the money that I have accumulated all the months, while the price was at the top. And now, there’s a huge chance of a price returning to 3.5 K. Here I think there’s nothing to think of, the market goes in a sine wave, if tomorrow the price is maximum, then in a month or in a few months, the price will be at minimum. The most important experience should be to maintain psychological health, and this can only be achieved with successful trading.
I first came to Crypto Currency through an online friend, first I had 100 100 + invest in a revenue share site called Mypaingads, but unfortunately I lost the first 100 $ bitcoin of my life by investing in that site. After that, Aslam came here in Crypto trading, Alhamdulillah, he didn't do very well, but almost all my losses came up, money came from this khan to run my own business, but I am still learning to do something good, there is no alternative to learning.
Been trading different alts for quite number of years already. And one important factor for me is the reputation of the exchange. I always checked the feedback of users, because what's the use of making a good trade if you can't get your funds out? That you will wait for days and days before they will send your coins, it is like waiting in vain and you don't have idea if they will ever credit your coins to your wallet. So that's one important factor for me, if I can deposit and withdraw coins smoothly. Also, the liquidity is important, because as a trader, I want fast turnover and not wait for my orders to be filled.
Trading saved me multiply times by now back when I had nothing left but my alt-coins that I bought it gave me hope because those alt-coins suddenly pumps up.
And most of the time I would just hold them until I really need some cash or it already hit the price that I am aiming for so yeah trading saved me so many times when it comes to my financial crisis.
And most of the time I would just hold them until I really need some cash or it already hit the price that I am aiming for so yeah trading saved me so many times when it comes to my financial crisis.
Hodling also has its downsides. I invested heavily in so many projects back in 2017/2018. I was hoping one of them will be the next bitcoin.
Hodling shouldn't be the thing to blame here but your mindset and thinking. There is no project from 2017/2018 that can be considered as the next bitcoin. It looks like you just got dragged by overhype.
I hope it served a lesson for you and I think you are doing great now.
Anyways, I think it's better to move the thread here: Trading Discussion
As every trader says, trading isn't for everyone so if you are into looking forward to high profits having a lack of knowledge and experience, trading isn't for you. Good for you that you were able to make in other markets as you say, the forex.
My experience was the same as yours, didn't made that much on my beginning days. Until I've decided to stop it and just focus in holding. I guess you can consider that there's still trading in it but, it only happens when you want to sell at a higher price or buy when the price was a bit low but you have to wait again. So it's a combination of patience and target selling/buying.
My experience was the same as yours, didn't made that much on my beginning days. Until I've decided to stop it and just focus in holding. I guess you can consider that there's still trading in it but, it only happens when you want to sell at a higher price or buy when the price was a bit low but you have to wait again. So it's a combination of patience and target selling/buying.
Exactly! Trading is not for everyone.
Hodling also has its downsides. I invested heavily in so many projects back in 2017/2018. I was hoping one of them will be the next bitcoin.
Even though i took partial profits, i literally lost most of the money i left on the table. Losing in crypto is outrageous; you get to lose a large % of your investment in just one day.
I believe everyone needs to know what cryptocurrency investment entails and invest what they can lose.
As I tell everyone who asks me at my day job ( investment advisor by trade ) you should only be trading money that you first off can stand to lose. Secondly, only those with a great deal of experience, those whom have mastered fundamental analysis and have a good grip on technical analysis should be "trading" cryptocurrency. It's one thing to trade crypto, let alone regular equities (stocks). More volatile, more "unknowns'.
The "unknown" is the scary part!
As I tell everyone who asks me at my day job ( investment advisor by trade ) you should only be trading money that you first off can stand to lose. Secondly, only those with a great deal of experience, those whom have mastered fundamental analysis and have a good grip on technical analysis should be "trading" cryptocurrency. It's one thing to trade crypto, let alone regular equities (stocks). More volatile, more "unknowns'.
As every trader says, trading isn't for everyone so if you are into looking forward to high profits having a lack of knowledge and experience, trading isn't for you. Good for you that you were able to make in other markets as you say, the forex.
My experience was the same as yours, didn't made that much on my beginning days. Until I've decided to stop it and just focus in holding. I guess you can consider that there's still trading in it but, it only happens when you want to sell at a higher price or buy when the price was a bit low but you have to wait again. So it's a combination of patience and target selling/buying.
My experience was the same as yours, didn't made that much on my beginning days. Until I've decided to stop it and just focus in holding. I guess you can consider that there's still trading in it but, it only happens when you want to sell at a higher price or buy when the price was a bit low but you have to wait again. So it's a combination of patience and target selling/buying.
Been trading for quite a while now and it took me time to get to where i am today coming from a noob in trading. Trading cryptocurrencies was one hell of an experience for me 
.
The first cryptocurrency i traded back in late 2018 was bitcoin and i lost a whole lot of money trading it. I guess i didn't learn enough about the crypto market and the volatility involved before delving into it
.
Ever since then, i picked another instrument of choice. I went into the FOREX trading. I plan on coming back into trading cryptocurencies but for now i'm still learning about the crypto market.
It was a painful experience though
What was your experience ?
. The first cryptocurrency i traded back in late 2018 was bitcoin and i lost a whole lot of money trading it. I guess i didn't learn enough about the crypto market and the volatility involved before delving into it
. Ever since then, i picked another instrument of choice. I went into the FOREX trading. I plan on coming back into trading cryptocurencies but for now i'm still learning about the crypto market.
It was a painful experience though
What was your experience ?
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