your worst mistake | Bitcointalksearch.org

Tumanggor

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Quote from: bitlihz on May 04, 2021, 08:42:16 AM

I am a newbie on this forum. My main focus is trading ( crypto) I have been trading for a couple years. Just curious to ask a question : what was your worst mistake ( in the very beginning, 1st year).
Would be happy to read about your experience !

trade with feelings
using big capital without preparation
think trading is easy
panic and don't want to learn from mistakes

this is a stupid thing that I did at the beginning of my trading activities, but slowly I started to correct myself, even though I couldn't make big profits, at least on average my buying/selling decisions were correct

Fredomago

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Quote from: ReiMomo on January 24, 2022, 12:59:10 PM

My worst mistake was selling and buying when the market was manipulated. In other words, i was caught into a panic buy and sells. And then when realized, I had to sell them off at loss. Yes. And other think is, do not borrow and invest. You will be tempted to borrow and invest seeing market's good condition but as the market is volatile, you might be get turns every now and then. At times you have wait for 6 months or an year for the price you wish to sell. Mainly, you will not be able to pay back the borrowed money on time and you will be in chaos selling your coins at loss. These are few mistakes/incidents caused loss.

That's a hard lesson to learn, losing borrowed money thinking that the market will bring you huge profits, it's always a must do your research and study the market before you jump into conclusion, this volatility continue to hurt every investors and traders who are lacking with good understanding.

Youn must learn about every mistake that you commit if you want to proceed. If you keep repeating the same mistake, better to forget about
this business and find other investment to participate.

Sweetbtc

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I m doing trading since last year but my worst mistake is that I m doing trade as full money which can cause a big loss because some time coin suddenly dip due to fud news and while it become to its actual buying price it can take alot of time so you are not able to do trade more in other coins because you invest all money in one coin which Is a worst mistake

ReiMomo

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My worst mistake was selling and buying when the market was manipulated. In other words, i was caught into a panic buy and sells. And then when realized, I had to sell them off at loss. Yes. And other think is, do not borrow and invest. You will be tempted to borrow and invest seeing market's good condition but as the market is volatile, you might be get turns every now and then. At times you have wait for 6 months or an year for the price you wish to sell. Mainly, you will not be able to pay back the borrowed money on time and you will be in chaos selling your coins at loss. These are few mistakes/incidents caused loss.

Thanos01

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my worst mistake was in 2017,my gain was 1000$ from 500$ in the bull market and then i got greedy and acted blindly.
i went all in ZCL without putting stop loss and also without making any research, later the coin dumped very badly and i lost all my gains besides half of my capital and that was very awful for me,thats a lesson i have learned which is cut ur losses and also always use stop loss..

Maasdamer

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My latest worst mistake was following the hype around Loopring (LRC) and the speculated collaboration with Gamestop.
Price went up and got in too late, around 2,50$. Went further up to almost 4$ in early December and since then declining. Today down to below 1$ again.

Never following this reddit fueled nonsense again.

LOL, same story like me. I read about it on reddit and got sucked in spend like 7k into this shit and got out with a loss of 2k, now the loss would be around 5.5k so I consider myself lucky somehow.

Sebas.tian

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My worst mistake is not buying much of bitcoin when the price was $20k some years ago because I was still doubting bitcoin as a decentralized scam currency. Then I have $2 million in my bank account but I just choose to buy little from the money but those of my friends that bought much and hold till last year January, made a made a huge amount of money from their bitcoin investment.
I learnt from my mistakes not to invest little on bitcoin when the price is low in the exchange market. Now that the price of bitcoin has dropped to $35k, show that there are many profits to make in this year 2022 if bitcoin price finally increase to $70k.

repear7

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When I first came to cryptocurrency, there were many small mistakes. But the biggest mistake of my life was not buying Bitcoin, BNB, Ether when I came. Then working in the forum, I used to spend the dollars I got for household chores. Even after that I am happy because god is keeping me very happy.

JooBra

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My worst mistake is selling PYR at 4$ since I got into in in presale. If I kept it 2months longer it could have changed my life.

kapalmabur

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Quote from: ScamViruS on January 21, 2022, 11:26:26 AM

Quote from: JunkieMiner on January 13, 2022, 07:04:06 AM

The mistakes which I had always made is that I always sell in a hurry while the coins which I was sold got into a high price and then I realize every time that I should hold that coin , but my mistake is that I didn't have that much patience to hold most of the coins, that's why I think it is my mistake in the field of trading.

If you can trade a coin and make a profit from that coin according to your target, then that is not a mistake. It is true that if you could hold that coin you could make a little more profit, but that trade could also go in a different direction also so that you could lose your profit. Every professional trader sets a target to close their trade when they open it. And if you want to make a long term investment, you need to be a good researcher.

Every trader certainly has their own goals and I'm sure they also do it with great consideration too,
for long-term investment indeed as traders we must continue to follow developments and do research frequently,
What is clear is that every trader has their own strategy

Raflesia

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Quote from: ScamViruS on January 21, 2022, 11:26:26 AM

Quote from: JunkieMiner on January 13, 2022, 07:04:06 AM

The mistakes which I had always made is that I always sell in a hurry while the coins which I was sold got into a high price and then I realize every time that I should hold that coin , but my mistake is that I didn't have that much patience to hold most of the coins, that's why I think it is my mistake in the field of trading.

If you can trade a coin and make a profit from that coin according to your target, then that is not a mistake. It is true that if you could hold that coin you could make a little more profit, but that trade could also go in a different direction also so that you could lose your profit. Every professional trader sets a target to close their trade when they open it. And if you want to make a long term investment, you need to be a good researcher.

Indeed it's not a mistake but a little regret for selling coins early after that the price went up, I think that's normal in trading circles so our analysis is still not quite right to set the profit target.
I often experience the same thing but I still adjust the target of how much profit is taken if this coin goes up after being sold I don't feel guilty because this has reached my target, but if it's called a mistake then I think it's greedy because I want big profits.

ScamViruS

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Quote from: JunkieMiner on January 13, 2022, 07:04:06 AM

The mistakes which I had always made is that I always sell in a hurry while the coins which I was sold got into a high price and then I realize every time that I should hold that coin , but my mistake is that I didn't have that much patience to hold most of the coins, that's why I think it is my mistake in the field of trading.

If you can trade a coin and make a profit from that coin according to your target, then that is not a mistake. It is true that if you could hold that coin you could make a little more profit, but that trade could also go in a different direction also so that you could lose your profit. Every professional trader sets a target to close their trade when they open it. And if you want to make a long term investment, you need to be a good researcher.

Mehedi72

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Quote from: rodskee on January 12, 2022, 11:38:10 PM

That is so much greediness , x14? meaning you are earning 1,400% and yet you ask for more?

True and thats why I'm considering that incident as worst mistake in my life. It's about 4 years ago i guess when i was a newbie and i don't had anyone for Guidelines. so doing mistakes was normal for me.

Quote

that is not a mistake but that is stupidity lol.

It can be called greediness but my newbies friends hold some altcoins those were 100x in those time and thats the reason I'm also aiming to have such return but fortune didn’t support me...

JunkieMiner

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The mistakes which I had always made is that I always sell in a hurry while the coins which I was sold got into a high price and then I realize every time that I should hold that coin , but my mistake is that I didn't have that much patience to hold most of the coins, that's why I think it is my mistake in the field of trading.

rodskee

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Quote from: ?? on ??

Unfortunately, I've had to make enough mistakes. I am glad that I tried to analyze the reasons for these errors and prevent them in the future.

We all does but the important thing is what we have learned from those mistakes and what we will act to prevent that from happening as we will be stupid if the mistake we committed happens multiple times.

It is ok to make wrong move in first or second but in third? better to quit because you are not learning from it.

Quote from: Mehedi72 on January 12, 2022, 10:55:01 PM

I hold a token named datum. Still listed on cmc or coingecko but it is dead now. I've bought for 1k$ but my mistake was, when it touch $14k, i didn’t sell it. I thought it was a potential token that could be more valuable in future but it downfall and even i was unable to recover my fund. but when i sell something, that go moon after few days. And such thing happened with me several time in my life.

That is so much greediness , x14? meaning you are earning 1,400% and yet you ask for more? that is not a mistake but that is stupidity lol.

Mehedi72

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I hold a token named datum. Still listed on cmc or coingecko but it is dead now. I've bought for 1k$ but my mistake was, when it touch $14k, i didn’t sell it. I thought it was a potential token that could be more valuable in future but it downfall and even i was unable to recover my fund. but when i sell something, that go moon after few days. And such thing happened with me several time in my life.

kapalmabur

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Quote from: Farma on January 10, 2022, 12:34:36 AM

Quote from: ReiMomo on January 09, 2022, 01:50:26 PM

Worst things were, I borrowed and invested in best coins but what happened is, I expected a turn over every month to close off the debts. But as you all know due to market fluctuations, I could not take profits every month as expected and what I did was, sold off coins to the amount I have to pay debts in LOSS every month. So here I have learnt, Never borrow and invest. And never get into panic sell or buy. This will really trap you down at loss.

Borrowing is indeed very risky, especially if you plan to invest in cryptocurrency, which has a high level of fluctuation, and is difficult to predict. Well, actually many people avoid borrowing in this case. however, that's why so many people are advised to always use money that you are ready to lose, because in this investment, we don't know whether we can lose the money we have, or will increase it. but that's okay, people need experience. I even invested in a hype site, and got scammed

The right choice to invest or trade is cold money and I don't think there is any other choice than that,
we know that in crypto the risk is big so it is clear that borrowing money is not a good choice,
what is clear is that we are better able to be responsible for our own decisions

dudeveet

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I'm also a beginner, very curious. Huh

Farma

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Quote from: ReiMomo on January 09, 2022, 01:50:26 PM

Worst things were, I borrowed and invested in best coins but what happened is, I expected a turn over every month to close off the debts. But as you all know due to market fluctuations, I could not take profits every month as expected and what I did was, sold off coins to the amount I have to pay debts in LOSS every month. So here I have learnt, Never borrow and invest. And never get into panic sell or buy. This will really trap you down at loss.

Borrowing is indeed very risky, especially if you plan to invest in cryptocurrency, which has a high level of fluctuation, and is difficult to predict. Well, actually many people avoid borrowing in this case. however, that's why so many people are advised to always use money that you are ready to lose, because in this investment, we don't know whether we can lose the money we have, or will increase it. but that's okay, people need experience. I even invested in a hype site, and got scammed

boyptc

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Quote from: Pamadar on January 08, 2022, 02:52:40 AM

Quote from: boyptc on January 04, 2022, 01:52:23 PM

Quote from: ?? on ??

Unfortunately, I could make various mistakes in the process of work, which brought me a loss. Fortunately, the positive result still dominates.

Then you're good enough for that if that makes you still make good result.

Not all traders that creates a lot of mistake still ends up with positive result because many of them ending up with disappointment and don't want to continue anymore.

In that case, they're into negative result and makes them no longer to continue.

Frustrations and regrets kill the passion of being a trader. Once you've been occupied, you'll find yourself losing control..

It's good to see that even there are many failures and mistakes, he still managed to cope up and make his trading participation
profitable, and like what you just said, not all are capable of doing that.

You are the driver of your fate. If you are keen on learning the very deeper part of this business, you can make things positive
along the way.

It's a game of emotion and mentality.

True, that when a trader gets emotional and becomes frustrated, he'll eventually lose enthusiasm and that's hard to get back when you're into losing streak with most of your trades.

But when we see someone who gets back and eventually is winning with his trades, we're also feeling that we're winning upon seeing that scene from others.

Topic: your worst mistake (Read 3578 times)