Common Mistakes In Trading Bitcoin

[Maya20 1048]

Really great information, I think the most important thing in trading is technical analysis, and also calm and lack of speed, and not to buy at a high price, these are basic principles.

[guatazoo 7150]

On 11/11/2019 at 6:00 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.

 

Buying bitcoin at the high price it cannot be the mistake because there is no limited high price of bitcoin, do that's you can buy bitcoin at any price and selling it at higher price than the buying price. 

[Beryymark 126]

Both experts and beginners made mistake alots in trading everyone want to get rich quick meanwhile things should not be done in rush everything has it's own time 

[Oki 675]

Yes, I avoid the mistakes that you have mentioned, besides that new traders usually don't understand what type of coins to buy, hopefully beginners can understand about the types of cryptocurrencies and what coins to trade, don't buy the wrong coins because if it's wrong then your trading will not be successful. The exact time to buy coins also determines your trading results, so avoid these common mistakes.

[joemcgwa 3227]

On 12/18/2020 at 8:00 PM, guatazoo said:

Buying bitcoin at the high price it cannot be the mistake because there is no limited high price of bitcoin, do that's you can buy bitcoin at any price and selling it at higher price than the buying price. 

But before buying bitcoin, it must show you in the trading chart the 24hrs high price and 24hrs low price, so thats you must use support and resistance to know when to buy.

[Smallingcane012 344]

The common mistake in trade bitcoin is to loss the understand of trade details but not realizes the aim of it concept in details that is one of common mistake in trade coin.

[Flash009 345]

This is why many traders lose. When people make mistakes, investors will start trading again for their mistakes. On occasion there are no good business opportunities up to 20 in a day. Too much trading results in bad decisions. 

[Lx-Lana 153]

New investors have invested too much and new investors have made these mistakes and they know all the conditions in this market.

[Rozy 1918]

You are terribly right, I feel sorry for people who sell their possessions to trade, they are so desperate to do so. and other who use their savings , they should have thought about the possibility of losing everything. Crypto market is not a win win situation , there is loss involved and one should not take his chances.

[Shemalia 383]

The most common mistake in trading is greed, yes so cliche but so true, a lot of traders are losing because of greed. so dont be greedy in crypto trading. always manage your risk and always be wise all the time.

[ShiNorton 906]

I learned many things in trading. I neglected commission for exchanging coins in different exchange sites so I lost profits in many trades. Now I check taker & maker fees in exchanger first. Some exchange sites have really high trading commissions so we should be careful to trade coins on right way. 

[tobom 133]

Yes I absolutely agree with you. These mistakes are really common. If I am going to trade, I will avoid making these mistakes. For example, I never sell my car to do business. Or if we are going to trade, I wouldn't start without learning all the important things.

[The Game 2059]

In trading an investors is required to go and do research and have a proper knowledge before participating in trading in other to avoid mistakes, however many fail to understand and always rush to buy coins at high price and said they want to trade with no possible assurrance that the price will increase.

[Muhammad Abu bakar 482]

There is no doubt that there are some common mistakes which decreases our trading profit.Whatever you have said, i have learned a lot from this post, but I want to add some more to them, So users can be benefited.One thing is that we should know all about trading before trading and should learn about trading before starting the trading.The most important thing is that one should not invest too much in trading.we should invest that we can afford.

[pax166 0]

Good day mate. Thanks alot for the tips. In addition to these tips i think a good trader should have some level of patience. If you are a long term trader then you should continue to be a long term trader. Dont be tempted by the waves of the market and always try to be a strong hand✋

[Momo_064 1281]

On 11/11/2019 at 9:00 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.

 

Yeah you're right. Many people do these types of mistakes and thank you very much for giving this awareness about these mistakes. Yeah this post is very useful and helpful for the new traders and the beginners. I am also a beginner and I want to start bitcoin trade in very soon so this post is very important and helpful for me also. I'll be very careful about these mistakes. 

[Abrar1122 10]

it is always hard to decide whether to sell your coin or keep it for more time and when you are unable to decide then that reading is not for you just stay away from it

[Fixfin 2569]

With experience you learn to understand the risk and learn to stop buying very high after the pump as most beginners make the mistake, you can also take some lessons about trading from free youtube clips and also learn technical analysis as this will help you more than anything.

[Malikjnb 1235]

I think there are many members who do common mistakes. Trading of bitcoin is the best way for earning. If you invest in it now I think you can get a good profit in a few months. In my prediction bitcoin price will reach at almost 50k in a few months.

[jaydeen443 153]

2 hours ago, Malikjnb said:

I think there are many members who do common mistakes. Trading of bitcoin is the best way for earning. If you invest in it now I think you can get a good profit in a few months. In my prediction bitcoin price will reach at almost 50k in a few 

I understand that trading is the best way but trading isn't for everyone even those who have experience or knowledge about how to trade successfully can also lose sometimes so I will advice everyone should be more commitment in trading do not rush things,leave aside your emotions.

[Cleaner 2549]

On 11/13/2019 at 5:17 AM, Thekingcallme said:

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

In order to trade, you must always keep an eye on the market.  Never buy a coin at a higher price as it is more likely to be lost.  So when the price is low, you can buy coins and keep the coins.  So in order to trade, you have to have an eye and experience towards the crypto market. @Thekingcallme

[Honny143 13612]

9 minutes ago, Cleaner said:

In order to trade, you must always keep an eye on the market.  Never buy a coin at a higher price as it is more likely to be lost.  So when the price is low, you can buy coins and keep the coins.  So in order to trade, you have to have an eye and experience towards the crypto market. @Thekingcallme

Exactly @Cleaner  buy coin at low price and sell that coin at high price it's a basic strategy in trading, and always look market conditions help us to make good profit, because market conditions not always same hour to hour market conditions change, if we miss one Small movement that means we loss one opportunity, 

[Cleaner 2549]

10 minutes ago, Honny143 said:

if we miss one Small movement that means we loss one opportunity, 

right @Honny143..Trade is a thing where if you miss an opportunity then you cannot profit easily.  So the opportunity to trade cannot be missed.  You need to choose good coins to trade and have a specific target.  If anyone wants to be greedy, he must be a loser.

[tienda 8776]

Yes of course the most mistake in trading Bitcoin is buying it at higher price. But the majority of traders who did this mistake, because of the panic, or they have not done the analysis. Is very important taking the emotion out of trading decision, and should know how you do the analysis. 

[Honny143 13612]

20 minutes ago, Cleaner said:

.  If anyone wants to be greedy, he must be a loser.

Yes @Cleaner  greed one of the big enemy in trading if we are not satisfied with our profit and wait for more profit, that may cause we lost our trade are we books Small profit, so when we start trading that time always notice market conditions, and also need to react that conditions then we earns good profit.