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Showing 20 of 52 results by reganvegan
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Re: What's the worst trading decision you've ever made?
by
reganvegan
on 22/03/2018, 06:53:01 UTC
The worst thing I ever did was sell my bitcoin at a very cheap price I had a huge loss. My mental and emotional level is an important part of taking every decision.

It's true - the ability to take emotion out of trading is paramount to being a successful trader. It's definitely easier said than done, though. Hell, even hodling can be hard when the market dives!
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Re: What's the worst trading decision you've ever made?
by
reganvegan
on 22/03/2018, 06:50:46 UTC
When I started trading, I tried to do it on 5 and 15 minute candlesticks on the chart.
Tried to catch the top and bottom, resulting in losses

Ah, we've all been there, dude - they say that trying to catch the bottom is like trying to catch a falling dagger. I never knew what that meant until I tried to do it myself lol
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Re: What's the worst trading decision you've ever made?
by
reganvegan
on 22/03/2018, 06:48:50 UTC
When I see to it that most of the time when everyone has the knowledge in trading, you keep in trusting him and give your ETH and Private Key to hold the wallet. I was being fooled already and it seems that the coins are in the wallet already.  It is a biggest decision that I've ever made and the biggest lesson that I've ever learned.

Oh, no! Was it someone you knew? Or someone you met through crypto that was only pretending to be your friend? That sucks, dude  Angry
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Re: What's the worst trading decision you've ever made?
by
reganvegan
on 13/03/2018, 02:32:01 UTC
Exiting ETH at $300 thinking that was the peak, after buying in at $120.

To be fair, it was sitting at $300 for aaaaaaaages. Still, I reckon it's got a long way to go before we see ETH's peak...
Lol. No one could have even imagined last year, that Ether will even go further, but at some point anyway, the indicators started turning long and those who were smart enough as traders to see it, did and good thing it came in handy for the profit.

I have made trading decisions similar to this, but I have never regretted them, but sometimes as long as the trade is not hitting my stop loss or giving me some huge bearish signals, I really do not bother myself about it.
As long as you make money it is fine people worry too much about selling at the top of the market but it is impossible to do it all the time, the most important thing to do with your trading is to obtain consistent profits, people concentrate too much in trying to get 10 times their investment when  getting 5% out of each trade can make you more money in the long run if you are a talented traders.
The fact is that in most cases, the forecasts for Bitcoin broke, and the etherium was almost always avoided. But nevertheless for today we see real prospects of the etherium about the future. I think this is a better investment than Bitcoin.

To be fair, they are completely different projects with different goals. I like them both but I can see why you're so keen on Ethereum...
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Re: Bad Psychology of Traders
by
reganvegan
on 13/03/2018, 02:05:14 UTC
It is the psychology but more importantly it is the emotions that get the best of us. This happens in every facet of life and trading is no different. When we lose we want to get out to stop the pain and when we win we want to book our profits. You must get a better mental state if wanting to achieve big things at trading cryptos imo!

I wonder if that means psychopaths are better at trading? If one didn't have the full emotional range, would that make them better at keeping emotion out of trades? I guess they may have higher tolerance to risk, too, which could work in their favour or against them...
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Re: What's the worst trading decision you've ever made?
by
reganvegan
on 13/03/2018, 01:34:36 UTC
as a newb I once bagholded and got f_cked. Damn, I remeber very well. Never had so much stress in my life.

What coin were you holding? And was it part of a pump-n-dump scheme? Has it recovered from the point at which you sold it? Sorry for all the questions, just curious  Smiley
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Re: What's the worst trading decision you've ever made?
by
reganvegan
on 13/03/2018, 01:09:31 UTC
My worst trade decision was a few months ago. I bought all my investment in BCH and inmediately the market started to decrease. Panic seized me so I decided to sell all.
The next day the market started again to raise.

That's a common theme popping up here. The panic sell is a traders worst enemy (closely followed by the fomo buy). Sadly, ignoring emotion is easier said than done!
Every trader should have a strategy and stick to it, rather than panic. However, sometimes, I would not consider somethings as panic; I would rather call it playing safe. The same BCH has reached my stop loss before, sold it and all of a sudden it started rising back, of course some would want to quickly buy back into it and then all of a sudden it came all the way back down before you know it. That is one controlled market I have told myself never to trade again. So, at the end, it is just what they call moving on, and better safe than sorry.

That's good advice but easier said than done - who among us hasn't felt the overwhelming urge to panic sell when their coin starts to tank? Nowadays, I just invest in projects I believe in and forget about it for a while (although I check CoinMarketCap more than I should! LOL)
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Re: What's the worst trading decision you've ever made?
by
reganvegan
on 08/03/2018, 22:51:13 UTC
I think my worst trading decision is EMC2. LOL. I spent about 0.2 BTC to buy EMC2 when its price was only 0.00001 BTC/EMC2 then I sold it for 0.00002 BTC/EMC2. Also I doubled all my money but if I were more patient at the time maybe I would have earned more than that 7 or 8 times cause only 1 month after that EMC2 price rised to more than 0.0001 BTC Sad
Well, that is if the OP is talking about signals gotten from indicators, Technical analysis and Fundamental analysis.

In this case, I am sure the OP is referring to Telegram signals where someone calls the shot and the followers do the usual thing which is to follow blindly. That is a huge problem for someone who wants to trade, because there is no way they cannot end up losing a lot at the end. It is always good to have the knowledge and be able to make decision without being told what to do.
Those are probably nothing more than pump and dump groups but people should know better if I knew what a coin will do before it happened I will not share that information with anyone I will probably bet the farm in that trade and become incredible wealthy overnight so it is obvious most signals groups have to be a scam, there is no other way around it.

Your absolutely right - why on earth would people who create these groups try and help out complete strangers at the expense of their own profit?! There are some good vids on YouTube about how P&D groups operate. Doug Polk Crypto did a fantastic one...
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Re: What's the worst trading decision you've ever made?
by
reganvegan
on 08/03/2018, 22:45:58 UTC
Bought some altcoin with BNB when BNB was 8$ and then it went up to 23$ the next day. I didn't really had a loss but if I would have kept BNB it would have been much better.
That is one thing almost everyone has obviously been a victim of and there is nothing we can all do about it. If the market decides to keep moving up and you take out your profit or you miss out of the show in the dying minute, it is just to accept your fate and move on. This is why some traders always prefer the long holding than having to do short term trading. Everyone have their own preference, it is just for you to make the best use of it.

I completely agree - life is much simpler when you just hodl  Smiley I used to trade but I found the whole thing to be a bit stressful. Nowadays, I just invest in projects that I believe in and store my coins safely
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Re: What's the worst trading decision you've ever made?
by
reganvegan
on 26/02/2018, 07:01:16 UTC
Exiting ETH at $300 thinking that was the peak, after buying in at $120.

To be fair, it was sitting at $300 for aaaaaaaages. Still, I reckon it's got a long way to go before we see ETH's peak...
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Re: What's the worst trading decision you've ever made?
by
reganvegan
on 26/02/2018, 06:56:16 UTC
I think my worst trading decision is EMC2. LOL. I spent about 0.2 BTC to buy EMC2 when its price was only 0.00001 BTC/EMC2 then I sold it for 0.00002 BTC/EMC2. Also I doubled all my money but if I were more patient at the time maybe I would have earned more than that 7 or 8 times cause only 1 month after that EMC2 price rised to more than 0.0001 BTC Sad
Well, that is if the OP is talking about signals gotten from indicators, Technical analysis and Fundamental analysis.

In this case, I am sure the OP is referring to Telegram signals where someone calls the shot and the followers do the usual thing which is to follow blindly. That is a huge problem for someone who wants to trade, because there is no way they cannot end up losing a lot at the end. It is always good to have the knowledge and be able to make decision without being told what to do.

I was just talking about dumb trades that people have made. Following other traders blindly is a sure path to destruction, though!  Smiley
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Re: What's the worst trading decision you've ever made?
by
reganvegan
on 26/02/2018, 06:53:49 UTC
My worst trade decision was a few months ago. I bought all my investment in BCH and inmediately the market started to decrease. Panic seized me so I decided to sell all.
The next day the market started again to raise.

That's a common theme popping up here. The panic sell is a traders worst enemy (closely followed by the fomo buy). Sadly, ignoring emotion is easier said than done!
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Board Trading Discussion
Re: What's the worst trading decision you've ever made?
by
reganvegan
on 20/02/2018, 05:08:47 UTC
When I sell all my bitcoins (120 pieces) for 1000$ a couple years ago)) In that moment I didnt believe in bitcoin and now I feel myself very foolish((

We all make mistakes. But I have to ask - you had $120k worth of Bitcoin but you didn't really believe in the project? That seems pretty mad to me (although I understand that $120k doesn't mean as much to some people as it does to others)
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Re: What's the worst trading decision you've ever made?
by
reganvegan
on 20/02/2018, 04:09:58 UTC
I spent all money I had to bought some small percentages of BTC, XLM, XRP, ETH, and NXT at the price around USD 12,5k at the time, upon suggestions of my friends who was get in cryptocurrency earlier. They assumed that btc cs would never fell beneath USD 11k. As a newbie, I followed their suggestions. Since then the prices were fell deeper and deeper. If only I knew that the price will be around at the price on recent days, I won't b rushed to spent all my money to bought them, so I could do better investment nowadays where the prices are more sexy.  Grin
I learn lot things since then. And those things lead me here, to learn and study from true masters of cryptocurrencies. Respect!

That's not such a bad trade, tbh. If you believe in crypto, you'll believe the price will go up. It's easy to think that you could have got more bang for your buck if you timed the market better but very few people ever buy at the bottom and sell at the top. In a couple of years 12.5k will look like a steal! Smiley
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Re: What's the worst trading decision you've ever made?
by
reganvegan
on 13/02/2018, 06:13:21 UTC
We always hear people posting about their awesome trades and/or gains but very rarely hear about the stupid things that people do. With that in mind, let's hear the biggest brainfarts you've had while trading crypto...
When I first stepped into this market I encountered many failures, but the most painful failure of me when trading was that I lost 98% of my property in one night, and also because of lack Puzzled experience that was FOMO. I invest in BCC when its price is at $ 363 but I do not sell gas it is declining value and currently it only costs $ 3. That is my lesson as well as my biggest stumble.

Ouch! Hopefully, we've seen the last of scams like Bitconnect but somehow I doubt it  Sad
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Re: What's the worst trading decision you've ever made?
by
reganvegan
on 12/02/2018, 07:06:25 UTC
We always hear people posting about their awesome trades and/or gains but very rarely hear about the stupid things that people do. With that in mind, let's hear the biggest brainfarts you've had while trading crypto...

Of course, not having enough patience to hold and just dumping it when there's a FUD and pushing the sell button right away. That's one of the rookie mistakes I made back then.

And then buying at the top price and being trap and can't get out because you will be taking a lost. But just like anyone here, we went all this stages but the most important thing is you learn from this stupid mistakes and never do it again. Hard price though to pay.  Wink

My worst decision in trading was also connected with selling of all alts I had when they started to fall. Then the pump followed and I understood my mistake.

Was this during the latest crash or was it at an earlier crash? I reckon the only thing we can do in this sort of situation is to learn from our mistakes...
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Re: What's the worst trading decision you've ever made?
by
reganvegan
on 12/02/2018, 07:04:56 UTC
We always hear people posting about their awesome trades and/or gains but very rarely hear about the stupid things that people do. With that in mind, let's hear the biggest brainfarts you've had while trading crypto...
My biggest mistake yet was when I invested in an ico, the price went down and I kept holding my coins, I believed in the project but I was afraid to invest more in it since the price went below the ico levels, now some months after, the coin is back at ico levels, if I had invested back then I could be in profits already instead of barely making any money.

Sometimes i feel the same too. When some of my ico coins that i bought suddenly deep. There is always a feeling that i need to buy more because it's too cheap but i'm also afraid that it will not increase in it's price. Now, when i believe in the project i will buy more at low price. We can't win or profit if we are afraid that our money will be gone.

I totally agree and if I believe in a project (and have funds), I buy the dip! It can be a hard thing to do but if it's a decent project, you have to believe it'll bounce back, I reckon.
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Re: What's the worst trading decision you've ever made?
by
reganvegan
on 08/02/2018, 07:16:39 UTC
The worst decision in trading that i have ever made is selling most of the cryptocurrencies that i hold in this kind of scenario. I am talking about the massive correction and dumps of the market that made me shake my hands and just sell my cryptocurrencies but this time, i know that i just need to hold and keep my faith on my cryptocurrency holdings.

We learn from our mistakes. I did the same thing when I first started out - it's crazy to watch something you invested in go down by 30% in a day - but I have sticky hands now   Grin
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Re: What's the worst trading decision you've ever made?
by
reganvegan
on 06/02/2018, 23:40:12 UTC
I think my worst trading decision is when i sell my appcoins in such a low price. I sell it at $1.5 and after one day the value of appcoins became $4.2. I did not wait for the price to go up before i sell it.

Ah well, hindsight is always 20/20  Smiley
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Re: What's the worst trading decision you've ever made?
by
reganvegan
on 21/01/2018, 02:36:14 UTC
I heard people on this forum said that nxt will be very potiental and it gonna give me another free coin when i hold nxt . I followed them and suddenly NXT drop 50% price. It's really sucks.

Was that around the time of the Christmas spike?