Successful trade coin helps you to make a profit quickly. But lack of knowledge and experience can make you fly 50%, 80% even more faster than one. We combine the best experiences from ourselves and other investors with the new Bitcoin / Altcoin investor mistakes to help you get a better strategy.
1 Mistakes when trading coin
1.1 Too fast, lack of knowledge
1.2 Too confident in thoughts, decisions
1.3 The goal is too big, greedy
1.4 Do not cut holes
1.5 Try to resist the trend
Mistakes when trade coin
Too hasty, lack of knowledge
This is a mistake that most investors start engaging. The hot growth of the market, the price of Bitcoin every day a high news is the main motive for new investors to participate in this market. Without any information or knowledge, new investors rush into psychology if they do not go to the opportunity to pass right away, they buy Bitcoin immediately in the psychology it has grown over the years. , the more you buy late, the slower. So they usually do not buy at one point, the best price. When the fever is on the rise, this may be true in the short term, but as it ebbs away the investor will gradually realize there is no need to break so, there is always a chance for you. Real Estate, Securities, Gold, etc. Bitcoin itself is the answer to never fear losing a chance. Be patient waiting for a price you think is good, or at least according to technical and market signals. Do not buy at the price when you breakeven, others are up to 50%.
Too confident in his thoughts, decisions
In the Coin market , most newcomers have achieved some very good initial successes, which can be as high as 95%. This creates a terrible shock, you can win 5 times, 10 times in a row, but only the 11th lost you most of the property if you do not control your financial greed.
For example: You invest a Bitcoin 20 trillion profit in 2 days, right bitcoin growth, too fast and easy, you invest more 2 Bitcoin again, continue to profit up to 50 million. You start to estimate if the profit is 20%, you have a capital of $ 100k, you earned $ 20 k, more than 400 million, not the odd number. You start to increase your investment with the thought that it will help you get rich quicker, more effective. And then you lose at 11 times, now you only lose 10% only, but 10% of 2 billion more than 50% of 100 million times. Over confidence in yourself will keep you from cutting holes and keep waiting, then you will absorb the feeling of 30% of 2 billion how fast it comes. Rapid capital inflows are common in any investment sector, as investors win initial prizes.
In the case of the coin market, prices may rise 20% in one day and 20% in the next day and so on. Today dropped 20%, next day reduced 20% from the old mark, lasted many days.
Managing your capital is essential, always enter the coin market with the capital when the most risky thing happens, you can accept. When investing, buy / sell or place orders within the limits that the worst can happen, you are okay. For this market, only can not be impossible, do not let one day have to estimate as if you lose the first trade, to leave from the beginning.
The goal is too big, greedy
The problem is that the initial victory will make you become greedy. Not that 20% a month but rather x2, x5 for a few days or a month. You start to buy small coin despite not having any information about it with the BTC style has grown a million times, this kind of increase not a dozen dozen times. That is enough, equal to the point that. I just want to share that most investors, long time trader only expect a month increase of 30% of their assets are too happy. Remember the story of putting a grain of grain in a 64-pound chessboard, you know if every month the property is only 30% increase, how fast will your fortune grow?
Do not cut holes
This is an extremely important lesson. Any long-term or well-known investors get this. To cut losses you have successfully trade up to 80%, do not know how to cut the hole, you certainly never win, just fail sooner or later. You can not stop the market trend, stop loss is a painless thing that no one wants to do, but it protects your capital, help you get back to very quickly.
The new investor or the way it looks down then it again, with much to wait until it comes up again. Remember there are things that never go up like the old one, or when it hits the top it will take years, five to 10 years, you can stand it? Please provide an example BDS:
In 2009 I bought a piece of land pushed the price to about 40 million / m2, the balloon broke out, the land to 35 million I cut the hole in pain. Seven years later, I bought the land for $ 21 million / m2, now the price is about 42 million / m2. Think about it, what if I kept 40 million * 50m2 = 2 billion soaked nearly 10 years? Just estimating bank interest and inflation are enough to make you see the terrible consequences of not cutting losses. And those who try to keep up the unbearable level, after years of paying bank interest sold for 21-25 million / m2 how terrible losses.
Come back to coin, the example from myself:
Coin DGB reached 2300 STS, with STS 1/100 million BTC, impressive growth of 64 STS, which means it increased nearly 40 times. over 3 months. Of course, early investors, who blow the ball, made huge profits from the money. The bubbles began to fizzle, in the jubilance many began to buy when it dropped to 2100, then 1900 with the thought of it rising to 2300 threshold is eaten enough. Every day a little more, the price has fallen to 1400 sts. Compared to peak 2300, the price has dropped a lot, I started to buy in because this is the bottom. Of course, the price went up to 1450, 1550 but I decided not to sell because I set the price to hit 1900. And then the price fell to 1300 Sts, in pain but I still patiently (persistently) wait. The next day I cut the hole in pain at 1250 sts. But of course I’m very happy, at least when I see the DGB prices drop below 1000, then 800, 600, 400, and the low time of the recent record is 250. If I buy from the landmark 2000 sts, h I have only one seventh of the property because not cut losses, and do not know how to return to that price. It is painful if a new investor buys DGB at the same time, they increase 5 times, I do not break even.
Have you seen the importance of cutting losses? Keep in mind, do not rush to hope for a dollar to fall, it will rise, no, it’s falling. To the area it almost did not drop again, then back up. Similar to the rising currency, it never falls away, but goes up stronger than before. The more psychological factor, leading to the coin has lagged more and more competition, has increased the more the fight to buy makes it higher, but always remember the purchase price, buy reasonable, do not run the crowd lurking sitting alone on the top.
Try to resist the trend
You will be dying right away, which is the answer to trying to resist the crowd trend. In a festival, the whole crowd is joyfully moving forward, you just go back, you are immediately stamped to death. For the market too. When the whole crowd rushes to buy the excitement, you judge the market will certainly lose money. On the contrary, when you have a strong selling trend, the more you hold on, the harder it is to lose. But if you run after the crowd, of course you will be able to die with the crowd, know enough and stop even though the crowd is still running. In every investment, in the long run the crowd has never won. When you are swept away so fast, as the car is so fast, braking slowly no matter what trouble will help you stop safely, waiting for the incident, whether the car is good but you also hurt less a lot of.
Hope you find it helpful reading this article !
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