Quote from: South Park on May 26, 2020, 06:04:14 PM

Quote from: Bright_dhykseen on May 25, 2020, 08:01:17 PM

Been trading for quite a while now and it took me time to get to where i am today coming from a noob in trading. Trading cryptocurrencies was one hell of an experience for me Grin

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The first cryptocurrency i traded back in late 2018 was bitcoin and i lost a whole lot of money trading it. I guess i didn't learn enough about the crypto market and the volatility involved before delving into it Undecided

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Ever since then, i picked another instrument of choice. I went into the FOREX trading. I plan on coming back into trading cryptocurencies but for now i'm still learning about the crypto market. Cheesy

It was a painful experience though Grin

What was your experience ?

To begin with you should probably move this thread to the trading section of the forum since that section seems to be the right section for this topic.

My experience trading bitcoin has been in fact positive but that is because I have dedicated an enormous amount of time to try to learn how to trade, anyone that dedicated just a few days or weeks is bound to eventually fail, trading is a very deep subject and there is no one that can master it so quickly, not only that even if there are many ways to trade that could be profitable there are only a few that could be right for you, also it takes a lot of time to backtest your strategy so you make sure that it actually works, when you combine all of these factors it is really no wonder why so few people are successful, so my recommendation is that before you pick a new instrument to trade that you try to find the reasons of why failed and then you correct them.

Did that already. Thanks!

You made a whole lot of sense here! Trading is not something you rush into.

It is like a flower which you water in order for it to grow. The water is your personal effort you put in.

Quote from: sunsilk on May 26, 2020, 06:37:29 PM

Quote from: Bright_dhykseen on May 25, 2020, 09:41:43 PM

Quote from: sunsilk on May 25, 2020, 09:14:17 PM

As every trader says, trading isn't for everyone so if you are into looking forward to high profits having a lack of knowledge and experience, trading isn't for you. Good for you that you were able to make in other markets as you say, the forex.

My experience was the same as yours, didn't made that much on my beginning days. Until I've decided to stop it and just focus in holding. I guess you can consider that there's still trading in it but, it only happens when you want to sell at a higher price or buy when the price was a bit low but you have to wait again. So it's a combination of patience and target selling/buying.

Exactly! Trading is not for everyone.

Hodling also has its downsides. I invested heavily in so many projects back in 2017/2018. I was hoping one of them will be the next bitcoin.
Even though i took partial profits, i literally lost most of the money i left on the table. Losing in crypto is outrageous; you get to lose a large % of your investment in just one day.

I believe everyone needs to know what cryptocurrency investment entails and invest what they can lose.

Everyone has the same mindset way back those years because it's the era of ICO. Many thought that there will be something new that can kick bitcoin out of its place but it's proven to be a wrong mindset because bitcoin will remain at the top.

Those lessons and experiences that we've learned during those times are helpful if you apply it in today's time. Investors, trader or holder, there's always an attached risk that we have to remember.

Failure to accept risks turns out to cause pain.
Everything has an attached risk.
Great point!

Quote from: FanatMonet on May 26, 2020, 09:14:50 PM

There were a lot of things. It’s clear that at first he leaked half of the deposit. Then he came to another exchange, with a large number of m coins, and bought the first coin that came across. After 30 minutes, he could have + 33%, did not sell. Then I had to sell at the purchase price.

At least you got your money back Grin

Quote from: xSkylarx on Today at 04:44:14 AM

When I trade I always buy high and sell low. I don't know what is wrong to me but I always got caught by the hype. I always ended up becoming a hodler. Emotion plays a big part in trading, if you have weak emotion you can be easily manipulated by someone who proclaims to be an expert.

We were all manipulated at the beginning and some of us are still being manipulated.

Quote from: maxreish on Today at 08:22:11 AM

Not all has a good experience in trading though. And it's not an easy way to earn actually it is a complicated field. you have to learn many tools like fundamental and technical analysis buy yhat doesn't guarantee you 100% to make a profits all the time because our enemy is the volatility of the market.

I wanted to turn into another field which is Forex tradingz too. But I know myself that I am not yet ready and still having a hard time into crypto tradings. If by a good chance, I am confident enough to say that I am a good crypto trader then by then, I can try forex trading.

Just do not rush things and remember that trading is not easy and needs time and effort.

I'm happy you know this.

Quote from: RealMalatesta on Today at 08:40:50 PM

Trading is good, but technical analysis is something I'm finding difficult to do. It's not that I am lazy, I don't think I am, but because I'm always busy and I don't get the time that's needed to learn all that and get perfect in it. I have job I'm doing already and I spend most of my time working and only gets a short time to look into cryptocurrency, read news and do other things I want to do, so doing technical analysis is like a big stress for me so I don't look into it, and that's why trading is not really my thing.

I have tried options trading and forex trading, and I have also tried cryptocurrency trading. Right now I'm just an investor, and I invest and wait for long term before making profit.

Its best you do what suits you and what works for you!