After several years of trading experience, I bought the top of an altcoin again today.
I made a trading mistake, and I wonder how come I haven’t grown past this stage in trading.
You need to understand that buying the top of an altcoins is not a sign of trading mistake or investment. We need to be an expert when trading and sometimes the market reaction shake us to make some certain mistakes that will show us that making decisions or analyzing the market can not be done always on accuracy.
The same top that you bought is what another investor sold so you need to know that every trader's decision about the market can not always be the same because we have different view about the market. When we make mistakes, there is always a room for us to adjust and make a better decision tomorrow.
Altcoins are profitable on their own ways, but they can’t compete with the potentials of bitcoin. So again, it’s never a mistake buying altcoins, but buying those wrong altcoins is certainly a big mistake, something that you can learn from it and won’t do the same mistake again in the future.
Trading is never made for perfection, because if that’s the standard, no one would be trading for long term. The point here is, trade on your potential coins, but always prioritize bitcoin over altcoins. Profits are more secured with bitcoin compared to its alternative coins.