Common Mistakes In Trading Bitcoin

[Agios 1763]

13 minutes ago, Ms.o said:

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. 

Yeah, you're right, Trading mistakes, too eager to make money fastly. without plans, calculations and analysis. so finally they only get a loss.

[Whydoyoucare 1094]

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.

[Zues 1069]

6 hours ago, Goodcoin said:

The common mistake I noticed in trading are

Traders not being patient

Trading more than the money you can afford

Trading all the time

Trading at the top or at the bottom

Trading during weekends. 

One of the most common mistake also is lacking of confidence on trading and getting conquered by their fear and afraid to trust what they do.

[scorpiali 5626]

The most important mistake that no one should do is to lessen to others in trading, don't do like other do you need to build your own trading strategy. Don't use other strategy like yours like that you will learn so fast and minimal the mistake

[febriyana 934]

I see some your explaining is already happen before. Mostly because i am still new on trading Bitcoin that times. So normal for newbie can get that condition. For now i already know some my mistakes and trying to avoid it at all. Because if you get trapped in same mistakes is very hurtful. Also try to control your emotion in trading, fear and greedy is big problem in trading.

[Brushless4500KV 4214]

On 1/22/2020 at 6:29 PM, Atreus said:

I think the common mistake of traders is that they buy high then they sell low or they sell it really early because they fomo. And they don't look at the trading charts before making any decisions. FOMO is the worst mistake a trader could do, it may or may not give them a good profit. Mostly loss tho.

It is not just about buying high or low. Some traders can't differentiate between profitable coins and coins which are not suitable for any trade. This is a fact that all crypto coins are not good for profit. A big mistake that amateur traders usually commit is that they buy a coin by random! They don't even know the difference between bitcoin and altcoins. You should choose coins smartly based on your type of trade and the conditions of the market.

[Shaza Ahmad 1682]

On 11/10/2019 at 10:00 PM, 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.

 

Yes, I completely agree with you, these are common mistakes for all new traders, and it is also common mistakes to rely on the analysis of others and fall into an unexpected loss, I think the trader should know that he is solely responsible for his money.

[Agios 1763]

57 minutes ago, otepsan12 said:

Was this all based on your experienced dude? Because the common mistakes I usually saw was applying too emotional when they do trade in the actual platform. Easy to believed in sweet words or get hype quickly because of greediness. Where in the end they failed of course to loss their assets. 

Thanks bro for your opinion, I think emoticons and greedines are included in the strategy so we need to control them, so it's not common mistakes.

[MysteriousIdentity 150]

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.

 

All of it are very useful to new traders so they can avoid this kind of mistakes in the middle of their journey of trading. I am not very familiar with this mistakes as I always make sure that I am prepared before engaging to something espcially in trading so I never experience any of it. 

[Sasaki 171]

Yes that's true, some crypto user have lost many crypto because of that, in trading we need a lot of patient and before we enter to trade we must know already what we're doing and must know how the market works. 

[Razan alikac 1899]

Thank you my friend for the good content, and there are many mistakes that a trader commits, such as buying at a high price, greed and not selling at a good profit, not having enough knowledge in the basics of trading ..

[cryptousd20 141]

Common mistakes are many and among them is that a person sells his home in order to double his capital in circulation by buying bitcoin and when a day comes when he loses all his money for wasting or not knowing the direction is correct he has lost everything in his life after losing all his money

[Jhadhasan 872]

We should not rely on trading as a basic source of income. The nature of the market ranges between boom periods and periods of stagnation in which we achieve nothing but little profit and we may not lose in it. We have to keep it as an additional business to our basic business.

[kadayakito 765]

Thank you, I think the most common mistake people make is Buy at a high price and don't care about transaction fees, I used to make a mistake when I bought litecoin when it was high.

[Hendy1 370]

Yes sometimes cut-lose is very necessary. That market conditions don't continue to really always be good and use stop-loss indicators to help prevent greater losses and add more bitcoin and altcoin.

[Dimi_00 133]

The average person enters trading thinking he can become rich in a short time.

Later we find out that this is not always true.

 

Crypto trading can earn you money if you buy a coin

1. Whose developers are active

2. That has a good number of users.

 

Usually coins like this are within 1-50 on coinmarketcap.com

 

Buy when crypto market has crashed, then sell when the price rises.

 

You might end up trading once a year or once in six months.

The average person enters trading thinking he can become rich in a short time.

Later we find out that this is not always true.

 

Crypto trading can earn you money if you buy a coin

1. Whose developers are active

2. That has a good number of users.

 

Usually coins like this are within 1-50 on coinmarketcap.com

 

Buy when crypto market has crashed, then sell when the price rises.

 

You might end up trading once a year or once in six months.

[Oxygen 1004]

On 11/11/2019 at 8:00 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.

 

Selling a needy asset for investing in bitcoins is the biggest mistake in crypto trading. We should invest only that amount which we can afford to lose or have a spare and extra income from our needs. Or we should earn free money to learn trading activities. Also emotional trades are also a big mistake in trading.

[Opinder 1310]

On 11/11/2019 at 8:30 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.

 

I have mostly seen people do not calculate the trading cost upon their profits,  some people buy coins when they are already pumped and one big mistake is they do not hold for long. These are main three mistakes most of people done. Also one another mistake is new traders always select wrong trading pair.

[Agios 1763]

11 hours ago, Opinder said:

I have mostly seen people do not calculate the trading cost upon their profits,  some people buy coins when they are already pumped and one big mistake is they do not hold for long. These are main three mistakes most of people done. Also one another mistake is new traders always select wrong trading pair.

Thanks for your suggestions on common mistakes in bitcoin trading, you're right many people don't calculate costs which should reduce profits. there are also mistakes on
select wrong trading pair.

[jacker 1095]

The mistakes you mention are the ones that many people make. I once made the mistake of not following my investment plan and I regret it. I recommend everyone to follow the plan outlined

[Rickso 768]

On 11/11/2019 at 4:00 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.

 

mainly there 2 common mistakes by new people that come in this market,

they enter without any real plan ( no enter price, no exit price, which strategy to use and so on) and without trading knowledge and this will bring only loss for them

[qurban 37]

Cryptocurrency trading is a risky affair owing to the volatility of the crypto market. Traders need to be aware of the market sentiment and implement their trading strategies accordingly

[LifeLine2k20 43]

Your individual is a human being and also company, around funding, who seem to acquisitions plus stocks economical appliances just like companies, provides, merchandise, derivatives, and mutual capital while in the total capacity with a representative, hedger, arbitrageur, and also speculator.

[phizusiki 239]

On 2/15/2020 at 11:20 PM, SHoogen said:

Can your plan be reversed? so if you sell in the weekends and you loose a lot why not buy in the weekends so you win some? or is that too simple?

I think we should all send messages and then we can do it for a long time because they have been working with a good exchange for your help. There is a calculated risk, which means having a working strategy that can be profitable for you

[Maroua 1159]

I did not understand anything from your post that I considered useful to others, I did not understand anything at all. But thanks anyway, you may find someone to understand it.