Altcoins Talks - Cryptocurrency Forum
Crypto Discussion Forum => Cryptocurrency Trading => Topic started by: ambar33n on June 26, 2018, 06:37:44 PM
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I have learned some valuable lessons from trading that I would like to share. These are my personal thoughts and not trading or financial advice.
1. I learned that no one can accurately and consistently predict the market. There are many gurus out there, giving out predictions like candy. Some have large followings and paid groups. It gives people a sense of comfort to seek advice and predictions from these people. But in the end, it's important to remember that no one knows what is going to happen.
2. I have learned that protecting my money is the number one priority. Many people develop a sense of attachment to certain tokens. They will lock them away in cold storage, and HODL no matter what happens. But remember that even the most solid tokens will bleed heavily during a massive market correction. Many people with "strong hands" HODL all the way to the bottom, where they eventually sell and get REKT. Remember that not everything will rebound. In the real world, 9 out of 10 traditional new businesses will fail within 5 years. Why would crypto, which is based upon brand new technology, be any different? This is why I believe in setting stop losses. Even if the token bounces after I sell, at least I have protected my earnings and I can continue to trade another day.
3. The trend is my friend. When Bitcoin starts trading at lower highs and lower lows, that is the sign of a possible bear market. At that point, I convert back into fiat and wait. I don't try to catch falling knives, which means buy crypto as prices are falling. I patiently wait until the market hits the bottom. But how do I know what the bottom is? I don't. I wait for Bitcoin to show a reversal and solid uptrend, higher highs and higher lows, building solid support levels before I start to invest again. When I start investing, I carefully dollar cost average in.
4. By selling during a downtrend and buying during an uptrend, I make consistent profits. I don't have to know where the tops and bottoms are. And even if I make a mistake and sell my crypto too early, only to watch them rebound and moon, I have still protected my money. Then I get back on the train and continue the ride upward. I may suffer a little FOMO, but nothing is really lost.
That's my personal strategy. It's important to remember that everyone on crypto Twitter is looking out for their own investments. They will encourage you to HODL when the ship is sinking because they don't want their bags to lose value. But I always look out for myself first, and never get attached to tokens.
Again, this is my personal strategy and not trading advice. What have you learned from trading?
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Yeah 1 and 3 are really important... I get so many questions a day like when the market will turn, when it wont... but I dont know anything for sure, all I can tell people is whats historically happened in the past, and knowing that its getting close.
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so basically you give people advices based on your own experiences?
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predicting market is one of the hardest think i know, It gives me frustration every time i trade the market. But now after many trial and error it give me less panic about the price movement after i learn to control my emotion. Thanks for your information.
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I have learned some valuable lessons from trading that I would like to share. These are my personal thoughts and not trading or financial advice.
1. I learned that no one can accurately and consistently predict the market. There are many gurus out there, giving out predictions like candy. Some have large followings and paid groups. It gives people a sense of comfort to seek advice and predictions from these people. But in the end, it's important to remember that no one knows what is going to happen.
2. I have learned that protecting my money is the number one priority. Many people develop a sense of attachment to certain tokens. They will lock them away in cold storage, and HODL no matter what happens. But remember that even the most solid tokens will bleed heavily during a massive market correction. Many people with "strong hands" HODL all the way to the bottom, where they eventually sell and get REKT. Remember that not everything will rebound. In the real world, 9 out of 10 traditional new businesses will fail within 5 years. Why would crypto, which is based upon brand new technology, be any different? This is why I believe in setting stop losses. Even if the token bounces after I sell, at least I have protected my earnings and I can continue to trade another day.
3. The trend is my friend. When Bitcoin starts trading at lower highs and lower lows, that is the sign of a possible bear market. At that point, I convert back into fiat and wait. I don't try to catch falling knives, which means buy crypto as prices are falling. I patiently wait until the market hits the bottom. But how do I know what the bottom is? I don't. I wait for Bitcoin to show a reversal and solid uptrend, higher highs and higher lows, building solid support levels before I start to invest again. When I start investing, I carefully dollar cost average in.
4. By selling during a downtrend and buying during an uptrend, I make consistent profits. I don't have to know where the tops and bottoms are. And even if I make a mistake and sell my crypto too early, only to watch them rebound and moon, I have still protected my money. Then I get back on the train and continue the ride upward. I may suffer a little FOMO, but nothing is really lost.
That's my personal strategy. It's important to remember that everyone on crypto Twitter is looking out for their own investments. They will encourage you to HODL when the ship is sinking because they don't want their bags to lose value. But I always look out for myself first, and never get attached to tokens.
Again, this is my personal strategy and not trading advice. What have you learned from trading?
This first step relies on effective market segmentation. ...
Business Planning: Develop business plans that help the product team make product investment decisions. ...
Build: ...
Launch: ...
Creating a Fully Aligned Product Strategy
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Basically all points above are needed. More learning and experiences lead to be a better trader. I am still learning this.
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Solid advice there. Nothing ground breaking, but doesn't hurt to get a reminder now and again. Dollar averaging is such an important part of trading, as long as you don't follow it all the way to oblivion. Need to make sure you not chasing a dying coin, and there's a fair few out there at the moment, sometimes it's best just to cut your losses and run. Like you say, setting stop losses is the key, and while you may feel like you missed the boat sometimes, you should make more in the long run. Overall a fairly safe (if there is such a thing as safe trading) way of making a decent return on an investment, and you might even get lucky and hit a couple of big ones.
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safe trading is in a way that a person follows trends, and slowly they'll have experience they'll know which can lead to which point. its safe that way
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All have strategy to follow but the bottom line is.. When you want profit in your investment.
Just remember to follow this. "Buy low, sell high". No one cares how you do it.. Just make sure you are in line to get profit from your investment.
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All have strategy to follow but the bottom line is.. When you want profit in your investment.
Just remember to follow this. "Buy low, sell high". No one cares how you do it.. Just make sure you are in line to get profit from your investment.
that can only happen when you buy a currency at its low and wait for it to go high.
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Thank you for sharing your knowledge here, I really like your strategy. I will apply it step by step in order to succeed in the world of cryptocurrency.
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and then do share your experience, it is always nice to listen.
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you are really experienced in cryptocurrencys.thanks for your great strategy.it will help the beginner.
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you are really experienced in cryptocurrencys.thanks for your great strategy.it will help the beginner.
I am always available if you need to ask anything. this forum is for discussing and making things easy for our fellow members :)
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That's a good advice from your experience. I also support your strategy because it is very simple to be safe. It is also important to have good knowledge about the crypto environment. As you know that knowledge is power.
I want to give you + karma for your valuable post.
Thanks.
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This sounds great info, thanks for sharing and I'm waiting for thw next tips from you
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It's nice of you to share what you've got from your own experience here. I'm sure many people will benefit from this information.
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It's nice of you to share what you've got from your own experience here. I'm sure many people will benefit from this information.
this is the benefit of this forum to be able to know which we may never know before, here we can discuss and exchange experiences, and we can learn about crypto, investment and trade, and this kind of information is needed for beginners.
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Thanks for the advices. Good tips for the beginners.
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4. By selling during a downtrend and buying during an uptrend
The number one and the number two is the best part but number is an activity that only only the pro can do because in the market there is a deception move.
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It is gratifying to share your experiences, but people are not able to take advantage of the lessons that others have left unless they experience it themselves.
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the basic rules for success:
1. Never to be greedy.
2. To lock in profits.
3. To be vigilant and not to give in on tricks of swindlers
4. To have reliable passwords to all important websites.
5. To trust in bright future
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the basic rules for success:
5. To trust in bright future
The fifth point is very controversial.It's not about strategy, it's about faith.If you just believe and do nothing for it-you can achieve nothing.I agree with all other points.