Seven mistakes you make while trading cryptocurrencies

[duncun007 3577]

On 5/17/2020 at 5:14 PM, BTC Future said:

It might but if you are in profits it can be a fun time to spent your time, relaxing , talking with friends that share the same trades and be able to find certain opportunities for longs or shorts and profit further. But still it is not that healthy. I wouldn't recommend this unless you don't have anythign else to do.

being in crypto 24/7 is considered as hard grinding for some people, they tend to lose focus on everything else and only focus on trading and thats not good because your mentality will be affected sooner or later.

[Naga 1250]

On 3/8/2020 at 11:26 AM, SuperCrypto said:

Trading cryptocurrencies is not difficult, but there are some mistakes you can make that make it a bad idea and the market completely rejects. These mistakes is :

 

1. You have no plan or rules to abide by, enter, stop, and exit deals.
2. FOMO can lead you to make awesome business decisions.
3. Do not trade with large leverage.
4. Don't let fear or greed make you make bad decisions.
5. Watching bitcoin 24 hours a week will upset you.
6. Be patient in the cryptocurrency market.
7. Trade with the Bitcoin trend, not the opposite.

 

You can discuss each of these mistakes and how to overcome it.

 

i would say that FOMO is the biggest mistake that people tend to fall in when they are trading, because sometimes the market could be red and then you see a coin start pumping like what happened to EOS the other day and when people bought it at 26k satoshi it dumped back to 24k satoshi.

[escmys 15]

Thank you for sharing. It is necessary not to risk more money than you can afford to lose. Profit targets and sales orders need to be determined before starting to trade, and this specified plan must be follow.

[hugo parra 20]

On 8/3/2020 at 4:26, SuperCrypto said:

Operar con criptomonedas no es difícil, pero hay algunos errores que puede cometer que lo convierten en una mala idea y el mercado lo rechaza por completo. Estos errores son:

 

1. No tiene un plan o reglas para cumplir, ingresar, detener y salir de acuerdos.
2. FOMO puede llevarlo a tomar decisiones comerciales increíbles.
3. No opere con un gran apalancamiento.
4. No dejes que el miedo o la codicia te hagan tomar malas decisiones.
5. Ver bitcoins las 24 horas de la semana te molestará.
6. Sea paciente en el mercado de las criptomonedas.
7. Opere con la tendencia de Bitcoin, no al revés.

 

Puede discutir cada uno de estos errores y cómo superarlos.

 

amigo como me explicaria esto de operar con la tendencia del bitcoin no logro entender lo que qiere decir las otras trato de cumplirlas gracias por su aporte 

[Shaza Ahmad 1682]

I like to discuss the issue of patience in trading, it is true that patience is an important factor for a successful trader, and perhaps no trader can succeed unless he is patient, but sometimes panic and fear of capital is necessary to escape from a big loss and that is only when we get you a coin Or a token that has no value in reality.

[Ramz99737 1196]

Thank you very much, I want to start trading soon, I do not have trading experience, but I will try to avoid these mistakes.

[Onden 2098]

Thank you for the information. I will make a strategy when I want to enter a trade, when to continue trading and when to stop. I would avoid large leveraged trades, preferably small but profitable ones. I avoid greed and fear in order for my trading to be successful.

[Razan alikac 1899]

The human nature of fear and greed greatly affects trading, so he has to control his behavior and greed is good in small and reasonable proportions in profits, otherwise this would be a risk in trading and lead to a heavy loss
 This desire can make us work harder and search more deeply and not withdraw when things look bad, but it can also prevent us from stopping when we know we have to stop, and thus can make us risk everything in an attempt to prevent failure.

[Tine0313 3053]

it is really frustrating to watch the movement of bitcoin whole day or even other coin, like it only cause you worrying more about how much profit you will get earn. Let the bitcoin move on its way it will lessen the worriedness you might feel. 

[Mwangi 5611]

The fear of missing out is the toughest for me and its painful really painful and we need to follow it and its really important that we do follow the right direction , there is a lot of work to be done when you are doing research on a coin or a token but the truth is you can make mistakes really tough , really tough to get in this space without good research that is really important for us to think of 

[Kami505030 1617]

All points are useful but i like two majaor points.

1) abe patience when you go for trading, it means you will face hardness when you trade and sometime you will lose your money but do not be panic and be constant.

2) study 24 hour crypto prices and see where these currencies going up or down.

[Mella 3680]

It is very important to trade with follow the trend. Most mistakes are trying to short a bull market and try to catch a dropping knife. When buy there is a buy in steps methods and have levels to buy as prices drops and to sell you have need targets set. A very good trader is in youtube target hit rick. This trader knowns it best and makes good trades.

[mohamedpc1 2213]

Yes, you have the right to greed, which is the reason for our great loss because we will not always be satisfied with little. Therefore, we do not always have to work with luck, because you may win once, but you will lose a lot after that, and I agree with you about these mistakes that lead to losses in the field of trading in digital currencies.

[Dorjoy12 8962]

On 3/8/2020 at 2:26 PM, SuperCrypto said:

Don't let fear or greed make you make bad decisions

@SuperCrypto  you can see many trader that they make a Trading signal of a coin and when the coin hit the signal they become greedy...  Its make sometime lose their funds as any time market can go down which lead the coin price down too.. Actually i wanted to mean before trade in any coin first we need to set up the target and as soon as target fill up we should take our profit becuase trading is like gamble and we can lose our funds any time..              

[Mark wood 2970]

On 3/8/2020 at 1:26 PM, SuperCrypto said:

Trading cryptocurrencies is not difficult, but there are some mistakes you can make that make it a bad idea and the market completely rejects. These mistakes is :

 

1. You have no plan or rules to abide by, enter, stop, and exit deals.
2. FOMO can lead you to make awesome business decisions.
3. Do not trade with large leverage.
4. Don't let fear or greed make you make bad decisions.
5. Watching bitcoin 24 hours a week will upset you.
6. Be patient in the cryptocurrency market.
7. Trade with the Bitcoin trend, not the opposite.

 

You can discuss each of these mistakes and how to overcome it.

 

That's the main reason when the price of some coins pump then I greed and buy for profit and after a little time it dump because I can't control my greed I want get profit as soon as possible and I know it is not possible but now I make control in myself because patient is the key to success..

[Omar Ommeish 4872]

Since I started trading, I have made many mistakes that I have learned many lessons from, and the most important of those mistakes that I have committed is the use of great leverage, which was causing me a lot of losses in every trade I entered.

[Emma William 2399]

There are many notes that a trader must avoid .. such as entering the deal randomly without our study or analysis of the chart of a particular currency ..
There is also a bigger mistake, which is inserting feelings into your work during trading .. feelings inevitably lead to negative and unsatisfactory results!

[Amir bhai 464]

This is little bit difficult to identified  their  mistakes but some mistake made by me are given below. But i recover them as soon as 

1-comments was not lengthy 

2-i cant help from anyone 

3- i was little bit confused 

4-Spelling mistakes 

5-Grammar mistakes 

6- sentence length was not enough 

7-new ideas was not in my comment in start

These are the mistakes but now i recover all my mistakes and my earning is start

[zeshan1122 654]

I think these are the best tips for the traders we should make a note of them and keep them on the desk where we trade it will help us a lot in trading.

[Cryptotakl1 0]

I have a major problem withe letting fear and greed control my decision and that is why to successfully we must know ti manege the risks in investing crypto .

[rahul12345 0]

It is very correct what they say the subject ,since we all go through mistake as merchant .whethrler it is daily ,long term or fast each type needs a specific plan .

[ABIR21 426]

On 3/8/2020 at 2:26 PM, SuperCrypto said:

Trading cryptocurrencies is not difficult, but there are some mistakes you can make that make it a bad idea and the market completely rejects. These mistakes is :

 

1. You have no plan or rules to abide by, enter, stop, and exit deals.
2. FOMO can lead you to make awesome business decisions.
3. Do not trade with large leverage.
4. Don't let fear or greed make you make bad decisions.
5. Watching bitcoin 24 hours a week will upset you.
6. Be patient in the cryptocurrency market.
7. Trade with the Bitcoin trend, not the opposite.

 

You can discuss each of these mistakes and how to overcome it

 

Thanks for your valueable opinon. Your post will be helpful for traders. But geediness is the main obstacle for trading. It make loss.  So,  trader must be forbid greediness.  

[Arslan Ch 2163]

Greed is the biggest mistake in my view as Greedy Person will loose everything in trading as There are many scammers who are in wait of your one mistake and greedy man will be an easy victim of them as thay trap us by giving  the greed of more profit  or more earnings  with much effort.So we must be carefully  and avoid  all of the mistakes  that you mentioned  specially  the Greed to become  successful  trader.

[zagzag 320]

I would like to add the following to the mistakes made in cryptocurrency trading:
1- Chasing Pump-Dump
2- Making emotional decisions
3- Hastiness
4- Unnecessary self-confidence
5- Not considering the effect of market volume
6- Exaggerate

Edited December 12, 2020 by zagzag
Adding an option

[iloveyobit 6599]

On 3/9/2020 at 5:50 PM, BrolySSJ said:

I have a major problem with letting fear and greed control my decisions and that has resulted in me making major losses over the last couple of weeks to be honest. I hope to control my emotions better in the future so that i can earn a profit, because at the moment i am losing 5 to 10 dollars daily which is way out side of my means as i am just a student.

the best way to control your emotion is to trade with a small capital only , this way the money you are able to lose are little and you will definitely deal with the market better in this case , i tried that before and im talking according to my experiance