Post
Topic
Board Trading Discussion
Re: learn from my 3 mistakes I made in trading
by
knowngunman
on 30/01/2025, 08:31:25 UTC
Hi Amigos

Mistake #1:
Never engage in medium or long-term trades with shitcoins.
These highly volatile assets can be removed from exchanges at any moment, dropping sharply—sometimes by as much as -50%! They’re unpredictable, defy technical analysis, and swing wildly up and down.
Shitcoins are strictly for scalping or short-term trading, and using a stop-loss is absolutely essential.


Being removed from an exchange is not an excuse thou because they normally notify users who hold that particular coin of the new development and suggest they move their assets to another exchange or sell it off. The prior notice comes early enough to give holders enough time to decide on what to do. However, it is generally a bad idea to tie oneself to a certain altcoin for a long time. Altcoins are like seasonal crops that are fruitful at their time and become irrelevant in the next season. You just have to make use of the opportunity and find your way to another.

Quote
Mistake #3:
Don’t buy newly-listed coins on exchanges, especially if you’re a beginner.
You’re at risk of becoming liquidity for early investors or teams dumping their tokens on you. This has happened many times with freshly-listed coins—beware of the hype!

This depends on the coin thou and how strong the team behind the project is. I have seen so many new listed coins offer immense profits to those that ape in early. Likewise, some will do the opposite but you just have to analyse before you venture into the risk. By the way, are you testing the color format? Why are you writing in colours?