Have you ever lost big money due to wrong or false predictions? How to use them correctly?

[Upright 2688]

One thing those analyst or data analyst know their works and make mistakes too when having to predict the price of currency which is never steady and unpredictable, as the volume can increase even it was not on the predicting table so have to predict will take alot of data and consideration. But luck is luck choose which fits you

[deepown 0]

On 3/23/2020 at 12:39 PM, shahbaz786 said:

as i dont trust on the prediction i just use my mind by seeing the history this is the my system so i will advice to all that use you mind dont rum behind the false predictions

I will not advice all to use theor mind, beciee asome does  it know a thing about crypto forecasting and analysis.

[Mcd0d0 5882]

Well as of now, this is the time that i lost some bot quitely big money for holding because the price of bitcoin dumps to $5000, which is not good for us and i hope that this will be recovered as soon as possible.

[Brushless4500KV 4214]

On 3/25/2020 at 6:06 AM, Masum10 said:

This question is geared towards people who buy a large amount of cryptocurrency and they are crypto rich who are affected by low and high prices I will get out of my cash. Okay, there is nothing else my friend, I have ever made a lot of moneyDon't worry that you care about the expectations of others.You create your own opinion ....

I try to form my own opinion but reading what others have predicted so far can be very helpful to make a more comprehensive decision. The only problem is that we don't know how many of them are correct or false. Some traders only prefer to rely on complex technical analysis rather than reading news or online predictions by well-known experts but sometimes a news can be more powerful than lots of technical analyses because the global economy can affect all the markets but no one (I mean a single person) can affect it.

[Babubu609 0]

On 3/31/2020 at 6:00 PM, wilbertson said:

The best way to use them correctly is by not trusting them without verifying if they are right or even true.

We can't just go on trusting them as you said but follow them scrupulously with that we may be able to identify the real fact if they are good or not

[Kamila 291]

Yes, I lost money because of false forecasts for cryptocurrency, I think that it is best not to use them at all and try to predict the price of cryptocurrencies myself. 

[ayatoslaw 858]

On 3/30/2020 at 1:12 AM, hasanS33 said:

It is better not to follow the free or paid recommendations alike and rely on personal analysis, due to the unreliability of the channels that make these recommendations

Trading must indeed use its own analysis, without own analysis of trade that we do will often experience loss, and not only that, doubt and anxiety we will continue to feel, this is all due to trading without doing your own analysis, the worst thing to lose a lot of money is that we will get and never trust a trading channel, because very often the channel owner even takes another person's analysis (I'm not saying all channels, but often and some do that).

[Mishu1234 101]

I have not yet faced such kind of loss because whenever i search about any particular matters i always prefer tge trustworthy sites and while trading i follow the rules and trade very carefully so that i  do not face any kind of big losses

[BrolySSJ 7899]

The volatility of the crypto market is very high and there is always the chance that the trade you make is going to be the wrong choice, and as a result there is never a guarantee with the predictions that you make. However if you want to have more confidence in your predictions you need to be able to analyze the trends of the market effectively to see exactly what the market is doing and how it is expected to do based on the past. You can use various indicators as well to help in your assessment.

[malik6314193 5449]

I have not lost much money in predictions. But in last week i loss 10k stoshies due to my own mistake. I did not buy it at low price but after that price pump up. 

[kizz 3370]

I have lose my money when I tried to trade, I am disappointed so since then I never do again to trade because It is so hard to make money again if the lose is a huge amount of money.

[Slavi 11287]

On 17.12.2019 at 14:23, Brushless4500KV said:

In order to gain profit from one of the most volatile markets in the world, we need to find a way to predict what will happen in the near future. Most people (including myself) turn to online predictions to know which coins are good for investment and which time is right for buying or selling. When I search the web for price predictions, I face with so many websites and so many expert views about each coin. Some of them even claim they know what will happen the next day. The main problem is the diversity of the prices they claim. This diversity shows that some of them are wrong and some are true. How can we tell if a prediction is more reliable than others? You know what will happen if you trade based on false predictions. The risk of losing is high.

I don’t watch online reviews because I think that they are made by a blogger for their own benefit, or they were paid for a good review, especially for new coins

[pablomarwan 3082]

I do not recommend that you fear all those who are insulted. Rather, take a specific idea. What could be done according to the analyzes that you see? In spite of that, do not venture a lot because it is, as you said, it is a volatile market and you should check the latest news, maybe there is something that attracts your interest

[Brushless4500KV 4214]

44 minutes ago, juma1 said:

The best thing in situations like this you need to ensure that you make a difference by not only trusting only on predictions to make decisions do your own analysis and research about the entire price changes before engaging 

Online predictions are some extra tools that are available to all investors. Some of them may be wrong but I created this topic to learn the ability to recognize correct predictions from false ones. I usually make self-predictions based on what I know about trading techniques but they don't come true all the times. Sometimes expert advice is more effective. No one can claim his own analysis is always better than online expert suggestions. Only long-time traders can fully rely on their own. Most medium traders should include online advice in their trades and compare them with their own speculations and choose the one that is more likely to be true. But this is an ability that we should develop.

[Virgil dijk 1431]

For me I haven't lose big money in Crypto due to wrong or false price prediction, and for me to prevent this it's better not to depend on people's prediction because no one can actually predict the price of bitcoin, and the ones who got the prediction right is by luck , so I think you should try to make your own observation and be patient with the market.

[Maroua 1159]

In order to learn the way to predict correctly, you must learn technical analysis, which is the basis for trading, so no person can enter the world of trading without any prior experience and without any knowledge.

[BitcryptoHan 2557]

Yes, I have lost money due to false predictions but it was just a lesson for me, it made me a better trader now. 

[ComeBackIsrael 185]

Yes, I lost a lot of money because of such predictions, I think it is better to take them into account, but still think about the price of cryptocurrency and put your opinion above such predictions.

Edited April 17, 2020 by ComeBackIsrael

[Ayush Singh 1175]

No till now i haven't loose my money due to the false predictions and indications bevause i don't prefer any such indicators and predictors to make a profit from investments and tradings i work on my activities when i see the good situation for it.

[Ch Ayyan 9781]

I think you should  not go after these predictions  as  mostly  of them  will proved ring I nearly future . To can read all analysis and guidlines but then go after  practically do  as your  self thougts.

[Shaza Ahmad 1682]

No one can predict prices 100%. If you follow a lot of people, follow the market for a while before trusting their analyzes and opinions. Whoever finds that it achieves more than 85% of the correct expectations, continue to follow it, this is a successful trader.

[Raqeebzy 6456]

Many times, that's why after reading predictions from an expert, I try as much as possible to get more predictions and compare them. I also do my own personal analysis if there is need. 

[Zezo 306]

Yes, I lost an amount in buying a coin that I expected will continue to rise, but it fell, it was not a large amount anyway

[jamesvince 2389]

Many people losted many money from false or wrong predictions of crypto market specially of bitcoin but unfortunately bitcoin not perform as they expected and then we got nothing from bitcoin and our own investment also gone due to bitcoin high volatility.

[Raqeebzy 6456]

9 hours ago, halloweed said:

Even comparing predictions is a good way to analyze the market i admire you for that, but long time predictions are not reliable, the markert can change the direction at any time.

Definitely, that is one of the attributes of the cryptocurrency market, every prediction is not a certainty especially long term predictions, they are not to be relied on only.