Altcoins Talks - Cryptocurrency Forum
Crypto Discussion Forum => Cryptocurrency Trading => Topic started by: Gurujebs on August 03, 2020, 03:27:08 PM
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It's another month and it seems bitcoin and other major caps project are gaining momentum to start another crazy similar run of 2017 . Bitcoin tested 12k and was massively rejected and flash crash to 10.5k during the weekend, currently trading around 11k range.
The momentum is not is going down soon as everything seems fundamental about bitcoin adoption and Defi hype. I want to share some personal major mistakes new traders and investors make during Bull run.
**Don't FOMO: Avoid fear of missing out, every trade that goes upside sometimes makes corrections just like 12k-10k flash crash, learn to control your emotions over your trade and position, there is always opportunity to get in. You can learn to trade with fibonacci, it help you when to enter a trade and exit your position.
** Avoid over leveraging: If you are a Derivatives and futures trader, too much leverage may empty your account and get you liquidated. At most, 10x should be okay with your poison sizing.
**Never trade against the market: The trend is your friend, shorting the market isn't good for any trader during Bull except you have enough fund to cover your liquidation otherwise, you end will up with margin calls.
**Diversify your Portfolio and Position: During Bull run, some alts like ETH usually outperform BTC, do your own research and learn to have some position in some good Alt
** Take percentage profits at every broken resistance: Some BTC maximalist predicted 1x10^6/btc last year bull run, as easy as it sounds, btc was rejected around range 13k-14k range depending on the exchange.
No one can predict the actual price. Don't be greedy, learn to take some profits. I know that feeling when starring at your wallet and seeing some crazy profits but If you don't sell, others will do and leave your portfolio stagnant with blood.
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The biggest mistake during bullish times is thinking that everything is going to favor all of us and that anything we are getting into will turn out to be profitable. Growth will not be happening non-stop so we have to be careful not to be caught in the FOMO avalanche.
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Base on my experience during 2017-2018 Bullrun I might see that my biggest mistakes were I was too confident that the most crypto prices won't drop easily and instead I believe that it will continue to rise thats why I rest my guard without maximizing all of the available opportunity during that time. Thats why if that event will happen again I will make sure that it won't happen again.
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Failure of people to always recognise that taking profits for every bullish trend is one of the greatest mistakes anyone can make. Always understand that the rise wouldn't last forever and as such, profits should be taken out at interval. Several projects have suffered great loss in value and prices since the last bullish trend way back in 2017. People who didn't take profits back then have had to watch on as their portfolios suffered massive drains. Remember to always take profits in any bull run.
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Failure of people to always recognise that taking profits for every bullish trend is one of the greatest mistakes anyone can make. Always understand that the rise wouldn't last forever and as such, profits should be taken out at interval. Several projects have suffered great loss in value and prices since the last bullish trend way back in 2017. People who didn't take profits back then have had to watch on as their portfolios suffered massive drains. Remember to always take profits in any bull run.
I know right. BTC is already testing 12k for the second time, I know some people will fail to sale some and lock their profits. It's better with small profits than nothing or loss
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One of the greatest lessons I learned during last bull season is to have patience and hold for long term, bull season are not meant for quick bucks, because you tend to loose x10 or more if you don't know when to sell
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i make my lot of money bull run i buy at 9400 now its 12k big profit for me
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i make my lot of money bull run i buy at 9400 now its 12k big profit for me
Congrats for making such a great courage. Don't forget to take profits at every broken resistance.
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i make my lot of money bull run i buy at 9400 now its 12k big profit for me
Thank you for the huge profit. Many people think that crypto prices will not come down very easily and instead believe that it will be increasingstay . I myself thought so in 2017-2018 and I was badly affected. It should always be understood that growth does not last forever and remember to always take profits in any bull run.
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Anyone can always make the worst mistake of taking negativity for every booming trend of failure to recognize it. Understand that the heights of understanding will not last forever and the same, should be taken negatively from time to time. Multiple projects have a huge loss in value and value. At the moment the logon name has not been returned, so keep an eye on it so that you don't have to deal with it.
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A lot of people sell the coins because don't start to pump and bough coins who aredy pump, and this is on of the biggest mistake what people are make in the bull market.
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As a person who experienced the 2017 bull run, I would say it is very important to pay no attention to greed and fear. Greed will make you hodl foreign to too long. Fear will make you exit too early.
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Point number 3 is more important here. At this time we should avoid panic sell. It affects on the price of crypto market directly.
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Don't panic sell and holding is best during bull run that's the best advice
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I think no body will do again mistake like 2017 basically me. Yea, your comments are very true and i think 2017 to 2019 was our learning point that what we mistake so as now market is going like 2017 i think this is high time to gain profit and now whom will mistake again upset will be partner for his life forever.
thanks.
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one more addition:
Try to assess increasing volatility and adjust your profit targets accordingly, 20% during a Bear Market can easily translate into a 200% move up in fast moving bull runs, take profits when satisfied because high volatility will also bring massive corrections undeniably...
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The biggest mistakes made during the bull run are to make more profit when bulls run in the market we invest more in greed then we have to fall into loss so we have to correct our mistakes first and try to analyze the market well. You have to try to move forward by using your knowledge and skills every action requires faith.
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I was looking forward to a big wrong run in 2017 and 2018. But I was convinced he would meet. But I did not see any trend of increase in the price of cryptocurrencies. I did not see any reason for the price increase. I have not seen any possibility of price increase. I think if there is a bull run at the moment, the price will definitely go up, especially bitcoin. I must support. But I was very confident that it would definitely increase.
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You are very correct at op especially do not fomo into any project, and again take profit and don't hold everything you have, one of my mistake of 2017, I didn't take profit at all because I was very new to the market and didn't understand it much but now if there is any bull run I understand how to handle the situation.
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On my experience during 2017 of bull run was I didn't buy any of the potential altcoins that were given a piece of advice to me.
Then, when the bull run came up those coins suddenly bounce their price in the market every week till 7 months I think something like that.