HomeЮморRelated VideosMore From: dan atStarLite

3 Mistakes I've Made Trading Cryptocurrencies

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This is not investment advice. I am not a professional trader. My blog on Steemit: https://steemit.com/@dan-atstarlite
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Jin Literatus (30 days ago)
When is the best time to invest? Do you have videos about new ICOs too? I'm interested specifically in SciDex.
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Randy McMillan (2 months ago)
"Ease of use" of the wallet is an overlooked intrinsic value of a coin.
Randy McMillan (2 months ago)
Trade for quantity of coin.
CRYPTO COMPARE (3 months ago)
So yo now know your favorite coin is going to go up. WOW.. I like these channel!!! I wish I could say the same about my fav. coin but I can't. That's way my channel sucks. You got to believe people. !!
Roc (3 months ago)
Good point of view
John Latten (4 months ago)
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Neetesh Biswas (4 months ago)
One of the best pieces of advice I got so far. Thanks a lot for this wisdom!!!
TheCbrown146 (4 months ago)
My mistake is not buying enough and buying too much. It's complicated.
Ralf van Veen (4 months ago)
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nokia3210fuck (4 months ago)
Mathematically you make a lot more profit if you sell when the price falls instead of holiding the coin. Imagine you bought a coin at 100 it then goes down to 50 and later up to 150. If you hold it you make a 50 $ profit. Instead if you sell let's say at 75 you monetize a loss of 25 $, but if you buy it back at 50 and it goes to 150 you made a profit 75 $. Even if you miss the low pont and rebuy at 60 you still earn more than if you never sold the coin while the price was dropping.
Trofimov Vladimir (4 months ago)
tenacious645 (5 months ago)
Thank you so much. Something finally clicked. I was thinking WAY too hard about it trying to balance fiat value with BTC. When dealing with alts ALL that matters is BTC value (or whatever your trade pair is) fiat value only matters when you're ready to cash out some profits.
Krystal Thatcher (5 months ago)
Awesome. Very good to know. Thank you for sharing!
Bri S (5 months ago)
Exactly mate! All the best!
bohdi sativa2 (5 months ago)
This shit isnt worth anything you hold on to long you might lose it. Its only worth what the scammers make it i mean creators make it.
reinard joseph (5 months ago)
so what are those 3? can you put in the video description? Thanks a lot for sharing
ballislife life (5 months ago)
the fact that everyone has to say this isn't financial advice shows us how much lawyers have screwed this country
Konrad (5 months ago)
So basically you're saying to "value invest" into the cryptocurrency world: find a coin you believe in and that has some inherent value, i.e. it actually has a practical benefit other than the prospect of it rising. In that respect it is exactly the same as investing in the share market.
Hefty Alan (5 months ago)
Are you dancing? There is a sway.
rywolf01 (5 months ago)
Get a tripod!
Sorry buddy, you do not choose whether you want to trade to grow $ , BTC or Alts and just 'pick one'; you will continue to make mistakes if you do anything other than aim to grow BTC value even if you only own Alts. Diversify across exchanges to mitigate risk, 2 exchanges will not die or get shut down in one day. Don't buy coins you believe in as that is like choosing a football team to support; chose coins with a strong development team, preferably non-centralized, mineable, with a low total supply and that has some compelling strength or feature like Binary BlockChain or advanced Privacy. Learn from people who know a lot, instead of people paid by Ripple etc. Learn to spot FUD and how to ignore your FOMO compulsions ......... or learn it all here for free https://www.facebook.com/groups/139208370017763/ Good luck and hope your misatkes are behind you. I been in Crypto since 2010 and yet I managed to lose $128k in a morning + part of an evening last year on a bad NEO bumsteer which gave me anxiety and led onto another costly bullchase for BTrash.......learned my lesson, again, but made the money back in mere days.......or like you said, just hodl and this relentless bull market will still make us look like we ain't idiots lol
3DMOVIES4YOU (5 months ago)
Great advise !
Russell K. Bonney (5 months ago)
Don't fear buy on the way up and fear sell on the way down or fear sell when there's not much volatility. Don't fear trade because you've got too much of one crypto on arbitrage trades. Yes we want more dollars. Don't fear exchanges. How often does a hack happen really? There's a bigger risk of someone taking a quick pic of your wallet key.
Thomas A. Roulette (5 months ago)
afrizak (5 months ago)
Not quite sure I understand what you're talking about, coz I'm so green about all of this, but I know it'll come in handy for the near future. Thank you!
afrizak (5 months ago)
Yes I get you, but I'm learning what's out there so that I can make informed decisions.
Albert Mckayla (5 months ago)
I try to make all the profit I can for now.
OMFGsorryWHAT (5 months ago)
I don't get the fear selling thing? If you are doing that, then you are 'betting' with cash that you can't afford to lose... Which is not the best move in the first place.
Albert Mckayla (5 months ago)
if you trade with cash you are willing to lose, You definitely lose all that money. Trading is taking the bull by the horn, because very body knows it is risky but it is also very profitable, DICES I GUESS
oJo (5 months ago)
Its so funny to see people stress going in crypto because they have nothing else good going on in life
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Michael Schraefel (5 months ago)
Nice advice man. Thanks for the reflections.
Sean2Z (5 months ago)
yah welcome to world of tradign dumbass. EIther u want to hold a share or u wanna make a trade off of the price change in the share. It is no more diff in crypto OR Forex. u ARE DUMB. U are relaly really dumb
reiwell del (5 months ago)
Very similar to my experience. Research is the antidote to FUD.
Jonathan henriques (5 months ago)
Invest in litecoin
Adam S (5 months ago)
man u sound like malcolm gladwell!
Chuck Pope (5 months ago)
You’re describing the difference between trading and investing.
Steithman (5 months ago)
I appreciate all the YouTubers who are sharing experiences about mistakes made in the crypto world. It’s one of the main sources I use to keep myself accountable regarding safety/security, being informed and being just plain wise in my decision-making, rather than impulsive.
anglojojo (5 months ago)
You gotta be paranoid when it comes to Cryptos
oussama z (5 months ago)
a pump is going to happen on binance on a given coin at 6 pm gmt today https://discord.gg/46fbKcY
bob Dole (5 months ago)
BUY LOW AND SELL HIGH! Problem solved.
bob Dole (5 months ago)
OK. Taking advice from some dude, that needs a shave, that may or may not be in Canada and is holding an mobile phone...really?
Mekka Moons (5 months ago)
Are there anyone or agency that could trade and store currency, that are trustworthy?
Raza Daza (5 months ago)
Decent advice
Tim Lawler (5 months ago)
Move the fucking camera back away from your face
Trevor Smith (5 months ago)
how I mine bitcoins with my android device at home https://www.youtube.com/watch?v=wV2DUcUEmgs&t=15s
eddyvideostar (5 months ago)
At 3:43 minutes: Your fear is substantiated and correct is that crypto is not a tangible currency and neither is it regulated. One is cognizant that computers crash, causing consternation and crypto confusion. I believe that one should trade some or most of this back to the U. S. dollar when he feels satisfied with his gain. The market may retrace and there will be another opportunity to re-enter. If one's timing and entry-level is sound, this should not mess with one's mind. And this is a good idea, for unforseen circumstances may befall us. One may be out of the market during this, which is good news.
ylmz e (5 months ago)
good video
Mahoney (5 months ago)
Be aware that every time you sell your crypto and then turn around and reinvest that money to buy more when the price drops, you are still responsible for paying the taxes on any gain you realized from the sale. Make sure you have money on hand come tax time or be prepared to sell some of your crypto.
sky 1187 (5 months ago)
That's true. I just want money... Hmm.
Rob Bryce (5 months ago)
These coins are all going to zero. Blockchain is not sustainable for commerce, way too much energy and too slow. Plus, getting in on these trades you get real shitty prices that are far from spot. Suckers game, if you got lucky get out before you start losing.
x x (5 months ago)
Great advice.
PetBourgeois (5 months ago)
really sound advice, though i think you have to experience these to have the fear and complacency opposite to human nature put into you. i've been told these things from traders for years, yet i will probably continue making them to some extent.
Reno Herdiansyah (5 months ago)
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4Lo-Ki (5 months ago)
Excellent advice.
Syed SHAH (5 months ago)
dude y r u swinging ?
Kevin Sorrell (5 months ago)
I sold 1 million verge in August LOL
DanVoges (5 months ago)
Good info but get those glasses out of here and stop moving.
Razvan Giurgiuca (5 months ago)
Why dont you say when you move the coin to place to place is a fee to pay
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Tristan Hurley (5 months ago)
Longest 6 minutes of my life.
Dominic Ng (5 months ago)
Good advice... I'm sticking to Cardano...~!
Michael Brown (5 months ago)
Thanks for the tips! But go long tripods ...or chairs
randy johnson (5 months ago)
Good advice...and nice shades
Gerald K (5 months ago)
Right on the money,great video!
Tube-Bit ManChild (5 months ago)
AshtrayAnnie (5 months ago)
LOL this is the most ridiculous thing I've watched. The logic for trading is the exact same. There's NO difference. You always want more shares (coins). But you also want the highest prices. It's funny listening to all crypto-investors jumping into the market thinking they found out something the rest of us didn't know.
AshtrayAnnie (5 months ago)
It also explains the extreme volatility of the crypto market. Most are inexperienced investors and think that this industry is somehow different than any other business of the last 100years. It's also making way too many dumbasses rich which then turns the market volatile because you have millionaires who have no trading experience (except for buying BTC/ETH/LTC back in the day) and now they're buying other smaller cryptos thinking they will exponentiate their million dollars again. This guy's talking about "fundamentals" and stuff...yet bitcoin has almost no fundamentals because it's track record shows that it's growth makes almost no sense. Considering you still can't use BTC at most stores. They should be happy they aren't a stock or they would've busted years ago. The shorts would've ran them dry. That's why shorts are a good thing also....they reveal the truth behind alot of scam-companies. Crypto doesn't have that so you're relying 100% on the news. Which also doesn't help because then when they decide a small up-and-coming crypto is a "scam" the news drives their price down with no real validation of that being the case. IOTA is a prime example of this....because the media keeps trying to drive the idea that they should fail...yet they are the most advanced crypto currency of all. Their prices should be right up there with ETH
John Simmons (5 months ago)
AshtrayAnnie Yes, it is quite amusing to hear so many trading novices have "deep" insights. All the talk of trading on margin for assets moving 30% up or down on any given day is painful to listen to given some inexperienced people will heed that advice.
Populous 8 (5 months ago)
Etherdelta just got hacked today and many investors lost coins.
DominateDepression (5 months ago)
Are you on a teeter totter? Just playing with ya. I really liked the vid, made a few so far myself.
GKMA A. (5 months ago)
What do you mean by "Make trades to make more of that coin"?
Han Cholo (5 months ago)
I don't know about that last point. Believing a coin will go up in value, and knowing a coin will go up in value are two different things.
John Milner (5 months ago)
dan, what do you think of ripple over the next few weeks ?
InTheFX (5 months ago)
fantastic advice
Patrick Booth (5 months ago)
Uhh why is everyone treating this trading space like a commodity market? You guys know you dont need a dollar anymore right? The crypto can be converted into any fiat currency around the globe.
Andrei Paun (5 months ago)
i love your video man. i prefer keep the coins instead trading them thats bcz if one of them is going really high and i cant buy it again i will regret..
Lavalambtron (5 months ago)
I don't understand why exchanges keep the crypto coin real addresses all to themselves, this is fact makes them the real owners of all the coins people buy there.
Kermit (5 months ago)
The most usable advice I’ve heard as a dumb new trader. I’d be up 250% in a month if I just left my first ever 2 buys alone and held. Instead I’m down 15%
Kermit (5 months ago)
Question for the long hold method? At some point it will become brutally obvious to even the newest crypto trader that Bitcoin is completely doomed as a usable currency and a few tens of billion of dollars is going to shift into the next few most stable high priced coins and they have to go up, no? LTC ETH BCH XRP etc.
Paul Serban (5 months ago)
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Jason Livingston (5 months ago)
good non-advice. nice sway bro
DJAS (6 months ago)
bad move with the sunglasses..better get back to cruising! lol......c'mon....I'm joking...your in a park and are dressed like George Michael!
Cindy Paul (6 months ago)
Do you recommend a wallet that supports $ etn? Thx
Crypto Knight (6 months ago)
Great TIPS!
coschaos (6 months ago)
It’s all about balls.
Francisco D'anconia (6 months ago)
With all due respect I think it's important to make the distinction between trading and investing. first of all in this market or any Market, you should only use funds that you can absolutely afford to lose 100% of. If you are investing for the long-term there is absolutely no reason you should sell. While I'm sure some of the coins have underperformed or went to 0 or whatever, try and understand that you are in the middle of a euphoric bull market on an emerging technology. You do not need skill to make money in this market. This is a buy-and-hold market, or at least it was. We are entering into the phase where it is becoming far more public and that's when you know something is on its last leg up, at least for a while. For me personally I am not in it for trading it, but holding long-term through the volatility until the big market cap comes into it. I'm happy to say that I am super lucky to be holding Bitcoin for $430. Even though it's only one LOL. The fact that Bitcoin has made its way into the mainstream media now has me looking to possibly sell into any further run up above the 20,000 level, but price action may change my mind. And how best of luck to you
Rafael Roman (6 months ago)
Your right about buy what you believe in.
Davey Baby (6 months ago)
What the hell are you doing?  On a swing?
aqualane1 (6 months ago)
Good advice. Invest money you can leave for 5-10 years.
karl dinis (6 months ago)
When you day trade, do we need to store the cryptocurrency in a wallet. If you keeping money in a exchange and Daily you trade. When we sleep should we transfer our cryptocurrency from exchange to a wallet while we sleep.
Durgys Ramirez (6 months ago)
Great Video. Thank You. It really helped Me.
Charlie Chandra (6 months ago)
#2 is a good tip and is so true
The art of competition (6 months ago)
when you mention your first mistake it sounds like your being extremely results oriented. Just because it didnt work out doesnt mean it was a mistake

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