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.
I thought I have learnt how not to FOMO, I still fell for it even after been a trader since 2020.
I wouldn’t have bought the top if I took some few minutes to check the chart. At least the daily chart would have given me the signal.
This shows that even masters makes mistake sometimes.
Do you have similar experience like this?
It happens with the best of us, trust me. I have made the same mistake few months ago.
We just have to suck it up and take the losses (but only if you sold, so just keep holding until you are in profits).
Volatility is high these days and so setting stop losses might end you with losses.
I am not against stop losses but you should avoid it in high volatility if you really believe that the coin will surge in price sooner or later.
Holding is always profitable when you hold project that has good team. I know that all holders care about is to keep seeing the value of the coin they are holding increasing in price but we should also know that for a project to gain more investors, there must be a good news that will attract users to it.
As you trade the market, investing in some altcoins can likewise be very profitable especially holding volatile projects that the price can suddenly surge with little news or reaction in the crypto market.