your worst mistake - page 13. | Bitcointalksearch.org

chikading2016

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Activity: 949

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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 !

My worst mistakes is not holding btc in long term, i was easily become afraid when price drop and sell everything emediately in short I am a panic sellers before and that was my big mistakes, after i loss so many profut I realize how important patience is, it only I have a big patience i can maybe get a big profit but it is really hard to hold when crypto is on dip fear is always there so for now I am trying to control may emotion to avoid losses.

SystemTrader

newbie

Activity: 23

Merit: 1

Without proper backtesting-papertrading and money&risk management, just jumping on the trade. Also valuing other people's ideas and advices more than my own research and ideas.

Mauser

hero member

Activity: 1974

Merit: 534

My biggest trading mistake was with stocks back in 2008, right before the financial crisis I invested into a local bank which seemed a bit undervalued in my opinion. At first it looked like a really nice trade, but within 6 month the financial happened and all bank stocks collapsed. I think I lost like 50% of my money in 2008, which was already terrible. But then the news got out that my bank invested heavily in American mortgages and was close to collapse. In the end the government had to save the bank in 2009 and the stocks got consolidated, for every 10 old stocks I got 1 new stocks. So in the first year I lost 50% and in the second year 90%. Even today after more than 10 years I am still 80% in the red.

kesmex

full member

Activity: 1110

Merit: 104

Quote from: MCobian on May 26, 2021, 07:01:45 AM

Quote from: SquallLeonhart on May 24, 2021, 05:31:29 AM

Quote from: ?? on ??

The mistake that you did, was done by many people, including me, because who is not interested in the offer that Yobit promised. But we forget that the risk of investing in shit coins is very large, because at any time the price can drop very drastically. Because shit coins usually have low volume, so if we sell it too late, it will be a very long time waiting for the price to rise again. Sometimes some shit coins become dead coins, and I have
experienced it several times, there are a few shit coins that I have until now I can't sell them. So my advice is that we should avoid investing in shit coins, just choose to invest in popular coins with high volume.

What matters most is the fact that we learn from those kinds of mistakes and act responsibly after making that mistake. I have invested into a shitcoin in 2017 to 2018 era as well it was the height of ICO craze and at some point the idea of "invest into all ICO because even if 10 of them fails one of them will make you rich" was there and it made some sense at some point because it was right.

Eventually I lost a good chunk of it without earning anything, so it wasn't even just one mistake it was bunch of them hoping one of them would hit. This is why I do not invest to shitcoins that much anymore, I still do make investments to low cap coins but with like max 50 bucks at most, usually even less.

I can understand how you feel when investing in many ICOs and then losing a lot of money, I have also had that terrible time. Even now, I don't even
dare to invest in shitcoins anymore, I still can't forget the trauma of the losses I experienced. I am quite amazed at those of you who still dare to invest
in coins with a low cap, even though the capital you use is not large. Still, if we experience a loss, it still hurts, but I hope you will succeed with investing
in the coins of your choice.

I am sure that when investing, almost everyone has experienced losing a lot of money,
and indeed it is a bitter experience and not everyone can dare to invest in shticoin anymore,
behind this bitter experience, I'm sure it can be used as a lesson for the future

MCobian

full member

Activity: 1190

Merit: 117

Quote from: SquallLeonhart on May 24, 2021, 05:31:29 AM

Quote from: ?? on ??

The mistake that you did, was done by many people, including me, because who is not interested in the offer that Yobit promised. But we forget that the risk of investing in shit coins is very large, because at any time the price can drop very drastically. Because shit coins usually have low volume, so if we sell it too late, it will be a very long time waiting for the price to rise again. Sometimes some shit coins become dead coins, and I have
experienced it several times, there are a few shit coins that I have until now I can't sell them. So my advice is that we should avoid investing in shit coins, just choose to invest in popular coins with high volume.

What matters most is the fact that we learn from those kinds of mistakes and act responsibly after making that mistake. I have invested into a shitcoin in 2017 to 2018 era as well it was the height of ICO craze and at some point the idea of "invest into all ICO because even if 10 of them fails one of them will make you rich" was there and it made some sense at some point because it was right.

Eventually I lost a good chunk of it without earning anything, so it wasn't even just one mistake it was bunch of them hoping one of them would hit. This is why I do not invest to shitcoins that much anymore, I still do make investments to low cap coins but with like max 50 bucks at most, usually even less.

I can understand how you feel when investing in many ICOs and then losing a lot of money, I have also had that terrible time. Even now, I don't even
dare to invest in shitcoins anymore, I still can't forget the trauma of the losses I experienced. I am quite amazed at those of you who still dare to invest
in coins with a low cap, even though the capital you use is not large. Still, if we experience a loss, it still hurts, but I hope you will succeed with investing
in the coins of your choice.

Philipma1957cellphone

full member

Activity: 416

Merit: 125

Quote from: Lanatsa on May 24, 2021, 03:59:13 PM

Quote from: Philipma1957cellphone on May 24, 2021, 12:10:44 PM

I had 1000000 doge at a cost of 2500 sold it for 55000.

I made good money , but if I sold.it slower I easily could have got 300,000

Still considered as profit and theres no point for you to regret as long you do make out money then that what matter most.People do usually regret on if they do sell out early but to look back that
profit chances or opportunity doesn't really come often so be grateful with that.

Its not a mistake to sell out early because what if the price had dipped down after you have sell out? For sure you would tell that you do make out the right decision or call in regards to that.

As long you do make sustain yourself in terms of profitability then don't mind into those losses that you are committing along the way as if those things are just normal.

That is true I also purchased a lot of gpus with that money.
The GPUs earned more money and still earn money so likely the
55k will be 95k by the end of the year. It will still earn for years to come

Smitty Werben Man Jensen

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Activity: 1568

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COMBONetwork

Quote from: ?? on ??

Every beginner who is new to the world of crypto, especially crypto trading then it will experience failure due to some mistakes.
Not just you, but it happens to all beginner traders including me.
The more you have flying hours, the more you have strategies to minimize losses. But at least to become a crypto trader then,
we have to be prepared to lose.

Right I think it is a natural thing for beginners themselves and failure is part of the experience,
yes the more our experience will certainly affect the decisions we will make,
the most important thing is to stay enthusiastic and keep learning

xSkylarx

hero member

Activity: 2366

Merit: 594

My worst mistake and most probably newbies also experience this is I let myself become affected when fuds are spreading and causes a market crash that I panic sell my holdings at loss. This mistake is the one newbies now should avoid now. Market will not always go down, time will come and it will start to recover again. People that know crypto since 2017 know this. It is ok to sell your holdings if you know the bottom of the crash and know what price you will buy.

Christelle92

jr. member

Activity: 235

Merit: 1

My worst mistake in the crypto trading is that I am a little bit impatient, so if anything happens in the market I sell all my holdings immediately. I lost a lot of money because of this bad behaviour unfortunately. but I am trying now to work on myself, to be more patient, and to not be afraid of FUD or bear market, thanks.

affandi

hero member

Activity: 672

Merit: 500

Quote from: Kopetunto on May 24, 2021, 10:59:35 AM

for myself because I am a trader, of course my worst mistake is when I bought Ethereum at the price of $ 4000 and until now I am still HOLD,
whether it will continue to decline or will it go up to new ath ?, I am still worried about this, to be honest I am hesitant to do CUT LOSE now.
because many people say that Ethereum will go to $ 10000 in the next year. how about this?

That is the importance of using stop losses for traders if there is a price decline and currently altcoin and bitcoin are experiencing a 50% price decline including ethereum, while ethereum itself has good long-term prospects, where the technology is still developing, my advice is to keep holding.

not financial advice

Lanatsa

hero member

Activity: 2968

Merit: 687

Quote from: Philipma1957cellphone on May 24, 2021, 12:10:44 PM

I had 1000000 doge at a cost of 2500 sold it for 55000.

I made good money , but if I sold.it slower I easily could have got 300,000

Still considered as profit and theres no point for you to regret as long you do make out money then that what matter most.People do usually regret on if they do sell out early but to look back that
profit chances or opportunity doesn't really come often so be grateful with that.

Its not a mistake to sell out early because what if the price had dipped down after you have sell out? For sure you would tell that you do make out the right decision or call in regards to that.

As long you do make sustain yourself in terms of profitability then don't mind into those losses that you are committing along the way as if those things are just normal.

South Park

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Activity: 2884

Merit: 794

I am terrible at Fantasy Football!!!

Quote from: wayaneka on May 20, 2021, 10:02:47 PM

My mistake in trading that I did it many times is do not use stop loss and just believe the price will keep going up. Just like recent dumped in crypto market, I been loss about 50% because did not use stop loss. I should be change my mind, that no one crypto will going up forever even in this bull market, because there are always small or big correction before the price to go higher.

While it is a definitely a problem that you do not use a stop loss that is not your only problem, the market did not crashed 50% in an hour, it took a full week and yet you did not sold your coins, if you are a trader then you need to know when it is time to get out of the market and it seems that you failed at that, so it is imperative that you go back to the drawing board and begin to think why you did what you did and you change it before this happens to you again.

Philipma1957cellphone

full member

Activity: 416

Merit: 125

I had 1000000 doge at a cost of 2500 sold it for 55000.

I made good money , but if I sold.it slower I easily could have got 300,000

Nrcewker

copper member

Activity: 2268

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DGbet.fun - Crypto Sportsbook

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 !

Glad to know that someone asked this question.
So basically a newbie trader lacks knowledge at first and then don’t understand how the market works.
The first mistake that i had done was just panicking when the price of the coin which i was holding went down.
I panicked and sold it in low price and to my surprise, after 2-3 weeks the price suddenly blows up.
And one common mistake i have seen from other new traders is that on their first trades they invest big amounts and gradually make losses.
Hope you got some nice points from my story OP.
Will be happy to know about other people mistake’s too.

Fredomago

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Leading Crypto Sports Betting & Casino Platform

Quote from: Yamifoud on May 24, 2021, 08:33:19 AM

Quote from: Xinarae* on May 23, 2021, 11:30:53 PM

-Snip-

Committing mistakes is not a hindrance to success but it was a helping tool to help us in order to achieve our goal.
Because we believe that Bitcoin will continue to pump and we think holding is the best option. Nobody wants to lose but sometimes we have been brag by our greediness overly thinking that holding is always the best option to take but unfortunately, not always been helpful and yet, this is also the reason for our failure. But instead of thinking this so bad, we have to consider this as a part of our learning and we can't find if it is wrong or right if we don't experience it like this.

If you continue being positive even those mistakes can convert as your inspirations to success, those things are part of your journey if you accumulates better understanding, you'll able to avoid doing the same thing but instead you'll be able to established better judgements and expect a better results with every decision-making that you'll going to make.

Quote from: Kopetunto on May 24, 2021, 10:59:35 AM

for myself because I am a trader, of course my worst mistake is when I bought Ethereum at the price of $ 4000 and until now I am still HOLD,
whether it will continue to decline or will it go up to new ath ?, I am still worried about this, to be honest I am hesitant to do CUT LOSE now.
because many people say that Ethereum will go to $ 10000 in the next year. how about this?

If you don't need the money that you spare to this coin, better not to do anything. You still have the same amunt of crypto

and once the market start to turned bullish again, who knows what will be the new high of this coin.

Kopetunto

member

Activity: 630

Merit: 10

for myself because I am a trader, of course my worst mistake is when I bought Ethereum at the price of $ 4000 and until now I am still HOLD,
whether it will continue to decline or will it go up to new ath ?, I am still worried about this, to be honest I am hesitant to do CUT LOSE now.
because many people say that Ethereum will go to $ 10000 in the next year. how about this?

Yamifoud

hero member

Activity: 2828

Merit: 518

Quote from: Xinarae* on May 23, 2021, 11:30:53 PM

My biggest mistake was when the price of currencies went up I didn't sell them now with bitcoin the prices of other currencies have started falling. But I don't think there is anything to be disappointed about people learn from mistakes and move on and correct the mistakes that follow if the market cannot be analyzed properly there will be risks. Before seeing this you have to learn to analyze the market by applying your own knowledge and intellect the mistakes of the past must be avoided.

Committing mistakes is not a hindrance to success but it was a helping tool to help us in order to achieve our goal.
Because we believe that Bitcoin will continue to pump and we think holding is the best option. Nobody wants to lose but sometimes we have been brag by our greediness overly thinking that holding is always the best option to take but unfortunately, not always been helpful and yet, this is also the reason for our failure. But instead of thinking this so bad, we have to consider this as a part of our learning and we can't find if it is wrong or right if we don't experience it like this.

SquallLeonhart

legendary

Activity: 2464

Merit: 1102

Quote from: ?? on ??

The mistake that you did, was done by many people, including me, because who is not interested in the offer that Yobit promised. But we forget that the risk of investing in shit coins is very large, because at any time the price can drop very drastically. Because shit coins usually have low volume, so if we sell it too late, it will be a very long time waiting for the price to rise again. Sometimes some shit coins become dead coins, and I have
experienced it several times, there are a few shit coins that I have until now I can't sell them. So my advice is that we should avoid investing in shit coins, just choose to invest in popular coins with high volume.

What matters most is the fact that we learn from those kinds of mistakes and act responsibly after making that mistake. I have invested into a shitcoin in 2017 to 2018 era as well it was the height of ICO craze and at some point the idea of "invest into all ICO because even if 10 of them fails one of them will make you rich" was there and it made some sense at some point because it was right.

Eventually I lost a good chunk of it without earning anything, so it wasn't even just one mistake it was bunch of them hoping one of them would hit. This is why I do not invest to shitcoins that much anymore, I still do make investments to low cap coins but with like max 50 bucks at most, usually even less.

Xinarae*

sr. member

Activity: 1414

Merit: 326

My biggest mistake was when the price of currencies went up I didn't sell them now with bitcoin the prices of other currencies have started falling. But I don't think there is anything to be disappointed about people learn from mistakes and move on and correct the mistakes that follow if the market cannot be analyzed properly there will be risks. Before seeing this you have to learn to analyze the market by applying your own knowledge and intellect the mistakes of the past must be avoided.

MCobian

full member

Activity: 1190

Merit: 117

Quote from: Natsuu on May 23, 2021, 05:16:55 AM

Quote from: ?? on ??

~

The mistake that you did, was done by many people, including me, because who is not interested in the offer that Yobit promised. But we forget that
the risk of investing in shit coins is very large, because at any time the price can drop very drastically. Because shit coins usually have low volume,
so if we sell it too late, it will be a very long time waiting for the price to rise again. Sometimes some shit coins become dead coins, and I have
experienced it several times, there are a few shit coins that I have until now I can't sell them. So my advice is that we should avoid investing
in shit coins, just choose to invest in popular coins with high volume.

Don't avoid it, Learn from your past mistakes and do something about it. As what you've said, shit-coins is high risk high reward kind of investment and it is for every shit coins out there. And as a trader, we are common to risks and failure, so instead of avoiding it, try to analyze the coins more, be more cautious about it and look for other factors such as looking for that coin here in the forum if it is gaining popularity.

Thank you friends for the advice, even though I admit what you said is true. But for now I'm still a little traumatized buying some shitcoins,
even though we can make a large profit if we manage to buy shitcoins at the right time. Since the increase in shitcoins is usually very high,
so the profit generated can also be very large. But as we know the risk is very large, it takes courage and good analytical and research skills
to be able to buy and sell shitcoins at the right time. So I prefer to avoid investing in shitcoins for the time being.

Topic: your worst mistake - page 13. (Read 3578 times)