Common Mistakes In Trading Bitcoin

[Agios 1763]

I hope this post can be useful for myself and other members, especially new trader, so that they can become expert traders at least understand / know the Common Mistakes In Bitcoin Trading. Are as follows: Over trade or Excessive Trading, Ignoring trading costs, Not learning how to read trading charts, Using savings / selling cars for trading, Not following investment plans, Buying at high prices, Short period of HODL coins. This is all I know, and there are still many more common mistakes that are often made by new traders, so I hope that all members will be able to complete my post, so that it can be used as a guide for others.

 

[Thekingcallme 1975]

Your words are true and the biggest mistake is buying at a great price
This will keep you waiting for a long time to exceed the price you bought and may not
Or have to sell at a loss

[yifnt 666]

A very common mistake may be that they aim to get rich quickly by trading. And they trade by not reading charts

[yifnt 666]

4 minutes ago, cutecute said:

Yes most newbies think that for sure because they did not understand yet how crypto works and what risk will you take when you invest in it and they are subject to making mistake but that mistake will lead them to success, those mistakes are there learnings that can be used in the future

I agree, with the error test that is done surely everyone will have two choices, continue to do it by making the mistake as a lesson or making the mistake a reason to give up

[bentayebsalah 2280]

I think the biggest mistake a trader makes
Is to rush to buy and sell
Greed not convinced of an acceptable profit and prefer an excellent profit does not make any profit in the end
Work with a failed strategy

[Zzoro6110 19]

I made mistakes and learned a lot from them
Purchase at the wrong time to buy
Hear the news that is circulated on social sites
Walk in the wrong footsteps

[Whydoyoucare 1094]

Well some of the main reasons why a trader loss is because of its greedyness. greed is really hard to overcome. and also your decision makings will really affect your incomes and loss so be careful on deciding.

[silvergain 271]

Common mistakes of trading should be GREED. its called enemy of trading. i did lot of mistakes for greedy trading style. i made 18K profits from 500$ investment. its a good amount of money. i did not withdraw yet because i had greedy dream. that i will make huge money buy that 18K. and that mistakes pay me a lot. lost everything for that.

[Yanadia 1517]

This is why many traders lose. When people make mistakes, investors will start trading again for their mistakes.  On occasion there aren't up to 20 good trading opportunities in a day.  Too much trading will result in bad decision making. 

[silvergain 271]

my mistake is to take high risk, losing control my emotion and losing for greedy trading. opening position with very high risk, sometimes invested money all to in bitcoin for marginal trading with very high volume. and the consequence is very clear. losing everything after doing that mistakes. but the big problem is, i am repeating my mistakes again and again. 

[khan22 3478]

On 11/11/2019 at 9:25 AM, james said:

i think biggest mistake is lacking a trading system. peoples who dont have a trading system they losses at the end. because luck always runs out.

In trading time luck is not always with us because trading need experience and if you have good experience then you can win the trades easily if you don,t have any trading experience and you are not analyse the market then you make loss in trading. So experience is must in trading.

[Agios 1763]

3 hours ago, BitCryptoCoin said:

One of the mistake I know in crypto trading are those trading on weekends. I noticed I always lose on weekends including my friends. I can not advise anyone to trade during weekends.

Thanks for your information, I'll take in mind not trading on weekends, because from your experience and the experience of many people, they need to pay attention to the timeframe during trading, maybe because of lower volumes and liquidity.

[gbana burn 7]

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[duncun007 3577]

6 hours ago, BitCryptoCoin said:

One of the mistake I know in crypto trading are those trading on weekends. I noticed I always lose on weekends including my friends. I can not advise anyone to trade during weekends.

if you read my trading tips that i posted on here a while ago you will see i recommended people to sell during weekends and only buy again when the market is about to open on Mondays because the market dips during the weekend and it pump back on Tuesdays and Wednesdays 

[Slaymind 25]

Biggest mistake in trading is buying at a great price and not having a good trading system.so you must have both of these

[khan22 3478]

On 11/14/2019 at 9:38 PM, yifnt said:

A very common mistake may be that they aim to get rich quickly by trading. And they trade by not reading charts

Yes this is the main thing that if peoples will greedy than they are in loss because they use the big lot at the trading time and so much time they are in loss not in profit so we must to remove the greed and make our trades are good and secure and use the low lot then we are successful traders.

[aqua 773]

If you introspect yourself, you will find that the common mistake in ourselves is greedy. Every trader will have that feeling in trading because once they see they can make a big profit, they want bigger profit, and they don't sell it right away, and even they are waiting for the next bigger profit. But unfortunately, what they want is not always happen because the market can up and down to any price so if they want to make a bigger profit, but the situations are not supported, they need to be sad because their profit is gone.

[crypto1 62]

You highlighted some of the very important mistakes traders make. specially I think that the Over trading is account killer. Most of the time new traders think that they should trade all the time, which is not very good practice. Traders should be very selective as trading is very risky. 

[duncun007 3577]

On 11/14/2019 at 7:38 PM, yifnt said:

A very common mistake may be that they aim to get rich quickly by trading. And they trade by not reading charts

yea everyone get in crypto with hopes of getting rich so quick without even noticing which coin they must pick, they think every coin will give profit like we find money on the ground to pump coins.

[Brushless4500KV 4214]

There are many mistakes that not only beginners but also some professionals may commit.

I will mention some of them:

 

1 - Investing at the wrong time when the price hits the ceiling

2 - Buying a large amount of bitcoin only based on a few opinions from unreliable sources

3 - Only relying on predictions to take action

4 - Greed! Holding BTC longer than normal until price goes down again

5 - Selling at the very first sign of price fall

 

I think the above mentioned are the most common mistakes I have ever seen. The best way to start trading is to have the skill of doing technical analysis. If you can do this, you can trade on your own without reading any prediction.

[Whydoyoucare 1094]

Well i think one of the major reasons why a person loss into a trade is because of its greedyness. always be patient in crypto because thats it how it really works.

[Agios 1763]

19 minutes ago, Meriem said:

I think trading is difficult even for experts, so the most important thing is commitment.  And follow a fixed business plan and strategy and not deviate from it

Thanks for your suggestion, bro or sis. Indeed there are many levels of difficulty in trading crypto, so you think we should commit and follow plans and strategies, but this deviation is mostly done by traders.

[Vanessa 1266]

4 minutes ago, Agios said:

Thanks for your suggestion, bro or sis. Indeed there are many levels of difficulty in trading crypto, so you think we should commit and follow plans and strategies, but this deviation is mostly done by traders.

 

55 minutes ago, Ladidi said:

commonplace mistake of newbies in crypto is vulnerable arms they promote thief coin o losses because they assume that the price of coin will lose similarly, and buying at high fee , purchase high sell low.

This is very true, happened to me.

That is why I am starting to do self researches on my own to learn more.

I lose most of my coins hoping to be one of the lucky ones.

Now ive learned.

[teminalibug 309]

21 hours ago, Mjidris said:

 If you do not understand the product and its value. 

Mistakes must be made (not intentionally, of course) because learning from their mistakes is much more effective than on others. 

Well, like i said in moist of ,my posts, i do not like learning from mistakes, but from other peoples mistakes, but you are right sometimes one needs to learn from own mistake is more effective.

 

20 hours ago, Brushless4500KV said:

There are many mistakes that not only beginners but also some professionals may commit.

I will mention some of them:

 

1 - Investing at the wrong time when the price hits the ceiling

2 - Buying a large amount of bitcoin only based on a few opinions from unreliable sources

3 - Only relying on predictions to take action

4 - Greed! Holding BTC longer than normal until price goes down again

5 - Selling at the very first sign of price fall

 

I think the above mentioned are the most common mistakes I have ever seen. The best way to start trading is to have the skill of doing technical analysis. If you can do this, you can trade on your own without reading any prediction.

The first pint i have experienced many tomes, but the third still is my problem.

[Ms.o 3322]

On 11/11/2019 at 11:00 AM, Agios said:

I hope this post can be useful for myself and other members, especially new trader, so that they can become expert traders at least understand / know the Common Mistakes In Bitcoin Trading. Are as follows: Over trade or Excessive Trading, Ignoring trading costs, Not learning how to read trading charts, Using savings / selling cars for trading, Not following investment plans, Buying at high prices, Short period of HODL coins. This is all I know, and there are still many more common mistakes that are often made by new traders, so I hope that all members will be able to complete my post, so that it can be used as a guide for others.

 

Making mistakes is not bad,it is part of the process for you to become a better trader.

Another mistakes is that many trader are just eager to make money thats why proper trading are not being applied,they just do trading to get profits without plans greediness can do kill.