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General Discussion / Re: Why is it hard to say sorry
« on: November 14, 2019, 11:56:18 AM »
Most of the times it is one's ego that makes it hard to say sorry.
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Yes its absolutely necessary to manage your trades. Without management you wont be able to make consistent profits in your trade.Agreed on this. Can you mention some ways which you use to become good at managing trade related stuff?
I am not an expert, but holding depends on what coin are you holding, if it is just another shit then just sell it right away before it's too late to sell and you will lose some money, but if you have some reputable coins like bitcoin, ethereum, xrp, etc. I suggest you to hold, there's a bright future ahead of these top coins, just choose wisely and most important, be patient.That’s right, the correct selection of coins, plus having patience, these two are must to have a good journey here.
i think its not late for want to became on crypto so far , any more new comer on crypto and succesfull very fast but we need to have a good mentor and always to learn from all proffesional person in crypto .Agreed, learning is the most important part. New comers need to take this step very seriously if they wish to do something great in cryptos.
True, that’s a very crucial choice. Your entire money can be parted from you in seconds if you don’t have a genuine broker.
Agreed! The number of scams in the cryptocurrency world are huge. So beware of all fraudulent activities and choose the right exchange and broker.
My simple advice would be to just have a clear motive entering each trade.Right, but what if after entering that trade, markets move against you. There always have to be a plan B in store according to me.
Many trade this way, especially considering the conditions of the crypto market, which is extremely unstable and forces us to adapt and constantly change our trading strategy. I can also trade in different ways, depending on the market situation, because traders must constantly adapt to market conditions in order to be successful.That’s the same what I do. There’s no option but to improvise strategies to be successful here.
Agreed, this is a common assumption that every investor holds, ignoring the real reasons behind the price move.
Since this is a widely open market, you can't know for sure who are trying to pump & dump, who simply trying to market buy, or who are simply selling in huge volumes for whatever reason. The thing is, we quickly think or assume that the market is manipulated everytime there are big price movements.
I agree. Investing requires a lot of knowledge. The right timing, the coin, the amount... from the very beginning it's a game for those who know the market perfectlyAgreed, selecting the right coin is very crucial. As of now, people are mostly into bitcoins, but can’t say anything for the future.
That is the major issue with bots that stops me from using them.
It surely helps, if you are a beginner. You must be careful though. If the bot, gets stuck into loss trades, stop it immediately! Losses may continue, if it is not stopped.
I don't call myself as an expert when it come to trading. Day trading has been a stressful experience for me so I switched from buying and holding for some time and selling when I see fit. I don't know if that can be considered as a strategy. I only understand some basics when it comes to TAs and volume is what I usually monitor.Agreed, intraday can be difficult at times. I also faced the same issue in the beginning.
Well, that is exactly what’s happening. I have seen many traders who just exit this line because they cannot wait for the results patiently, which is bad.Crypto investment is only for patient and smart people. If someone cannot be patient and smart in managing their crypto investment, then I doubt they can gain profits from the crypto business.
Yes, you are right. Patient is a must for a crypto investor, it can determine that they can hold and wait for better prices. If someone is not patient, then they can be influenced by FUDs easily. Finally, they may leave or quit crypto world very early.