Seven mistakes you make while trading cryptocurrencies

[SuperCrypto 7193]

It is a mistake to trade randomly without developing a specific trading plan or strategy and to determine the type of trading that you want to practice, whether it is daily, long-term, or fast, and each type needs a specific plan.

[teminalibug 309]

33 minutes ago, Jone20 said:

Poor financial management is one of the worst things that may cause a loss to a trader. Therefore, it is a mistake not to care about the aspect of good capital management and dividing it in several directions so that you do not lose it all at once.

That is very true, even in gambling if you are to succeed, risk management is a key so if applied to trading is even more useful.

[iloveyobit 6599]

You are absolutely right, through my experience that I gained in long trading for a period of 4 years, I started to implement these steps in its tracks, at first I encountered difficulties, but not anymore.

[harzallah 161]

I agree so mush with this mistake "Watching bitcoin 24 hours a week will upset you'' because will realy upset you and this make me loose okay

 

[johant123 1559]

The exchange I normally use does not have a stop loss order feature (been on the roadmap for some time).

Normally I don't care too much (they have several other advantages), but last week that was sorely missed!

Otherwise I would have sold at $7000 and re-bought at $4500 or so 😉 

[SuperCrypto 7193]

On 3/20/2020 at 8:22 PM, sumitshet said:

Good suggestions from your post, these all mistakes are major mistakes, every beginner traders do these mistakes, I also needed about suggestions thankyou

Thank you . In this post I tried to highlight the most important and biggest mistakes so that traders do not make them, although there are some other minor mistakes that I discuss with members through comments.

[bentayebsalah 2280]

Yes, this is a common mistake that traders make and must be avoided through the discipline of following a specific plan and a specific goal and not going out on it, as well as patience, lack of fear, and avoiding greed

[Thekingcallme 1975]

Yes, these are the seven most common mistakes that most traders make, and this is what makes them lose in trade. This is why patience and not greed

[harzallah 161]

4 minutes ago, Thekingcallme said:

Yes, these are the seven most common mistakes that most traders make, and this is what makes them lose in trade. This is why patience and not greed

i full agree with you speacialy the five one these make them realy lose all them money  and fail so please who read this please before get it make sure .

[George10 9932]

Thanks on sharing these tips they are true and straight forward and one thing that I have experienced that is to be avoided is watching bitcoin price 24/7 its not a good idea because it is frustrating sometimes and trading without a strategy to know when to enter or exist the market.

[SuperCrypto 7193]

2 hours ago, ritadhernandez1 said:

Hey mate, your point our point is good and it will help many people who are beginner in crypto world. We all know trading is the only way to get good profit but we have to learn how can we benefited from doing trading.

I hope everyone will benefit from this information. The goal is not only to know the mistakes, but to stop repeating them and that your problem-solving skills will be activated. They will usually try to find out what happened and what are the possible factors that caused this error.

[vajines 30]

Главная ошибка новичков это поспешность в принятии решений. Не нужно торопиться вообще, вам следует вдумчиво и обоснованно что-то делать. И все должно быть ок. Удачи всем ребята!

[Jessica Karren 1242]

To be patient in the cryptocurrencies, how it can be a mistake? Infact it's a good thing to do. I guess to be patient in trading is the key to success. 

[teminalibug 309]

On 3/25/2020 at 2:47 PM, jack0 said:

i think fear of missing out is the biggest reason of maxim peoples of failing in trading. and this happens when fully depends on indicators.

I agree it is better to sell in fear, it sometimes cur losses, but fear of missing out is very dangerous, could make you buy at the very top only to never sell at any top than that.

[BitcryptoHan 2557]

8 hours ago, teminalibug said:

I agree it is better to sell in fear, it sometimes cur losses, but fear of missing out is very dangerous, could make you buy at the very top only to never sell at any top than that.

Fomo means ignorance, in the 2017 piece crash, fomo really suffered as some bought coat high price and lose up till now. Also, even in other aspect of life, fomo can lead to investing in wrong businesses like ponzi scheme. 

[SuperCrypto 7193]

At one point, the value of the currencies may be at an all-time high and if you do not invest this opportunity well and sell in the right place you are making a big mistake because the next time, it may drop to less than your initial investment.

[phizusiki 239]

On 3/20/2020 at 2:40 PM, apealing said:

All the ones mistake that you point out to your publish are actual and greater and the problems is all of us know that we dont must make those mistake and again we fall in it

The worst can cause loss for a trader. Therefore, it is a mistake not to care about the good capital management aspect and divide it in many ways so that you don't lose everything at once. The rules are to choose the right currency to buy and choose the right time and take the necessary measures and learn to analyze.

[teminalibug 309]

6 hours ago, SuperCrypto said:

At one point, the value of the currencies may be at an all-time high and if you do not invest this opportunity well and sell in the right place you are making a big mistake because the next time, it may drop to less than your initial investment.

Wonderful enough, some people bought bitcoin at a ATH of 20k, i have no idea what they expected, they never recovered that.

[SuperCrypto 7193]

14 hours ago, teminalibug said:

Wonderful enough, some people bought bitcoin at a ATH of 20k, i have no idea what they expected, they never recovered that.

Hopefully, this is unfortunately true, many of those who invested in bitcoin and did not sell when they reached $ 20,000 lost because they did not understand the rules of the crypto market well and that there is always a top that corrects the price and a base from which a price rebounds and we must sell and buy between these tops and bottoms.

[phizusiki 239]

45 minutes ago, Xking7 said:

Need to do some trading practice on demo account especially when you want to trade in forex market but crypt coins I don't know if demo account exists or not, doesn't itI fully agree with you on these steps and I confirm it through experience but you should avoid these mistakes. You also have to learn and study a lot

You must wait for the right opportunity and do not rush to decide and do not let your emotions control your currency transactions to make a quick profit. I don't totally agree with you on these steps and I confirm it from experience but you should avoid these mistakes You also have to learn and learn a lot

[teminalibug 309]

23 hours ago, SuperCrypto said:

Hopefully, this is unfortunately true, many of those who invested in bitcoin and did not sell when they reached $ 20,000 lost because they did not understand the rules of the crypto market well and that there is always a top that corrects the price and a base from which a price rebounds and we must sell and buy between these tops and bottoms.

But i'm nit talking about those who did nit sell at that high, I'm talking abut those who bought at that high and endured massive losses.

[SuperCrypto 7193]

9 hours ago, teminalibug said:

But i'm nit talking about those who did nit sell at that high, I'm talking abut those who bought at that high and endured massive losses.

Yes, of course, they lost because they bought very late, and luck might reflect against them, as they entered the market and bought at the wrong time while those who invested long ago sold at this height.

[SuperCrypto 7193]

It is common for traders to find themselves with great paper profits, but then they see them completely evaporate and turn into annoying losses and this happens due to the mistake of not having a plan for them.

[teminalibug 309]

On 4/2/2020 at 5:58 PM, SuperCrypto said:

Yes, of course, they lost because they bought very late, and luck might reflect against them, as they entered the market and bought at the wrong time while those who invested long ago sold at this height.

Glad you get me, now along with the fact that people have FOMO, what is the other reason could be for people to buy their coins at high.

[phizusiki 239]

On 3/20/2020 at 11:43 PM, iloveyobit said:

You are absolutely right, through my experience that I gained in long trading for a period of 4 years, I started to implement these steps in its tracks, at first I encountered difficulties, but not anymore.

it's a mistake not to care about good capital management and divide it in many ways so you don't lose it all at once. Such things are necessary, both for trading strategies and financial management. Because we cannot trade carelessly, only the emotions and selfishness we have.