This
question for Forum administrator that when I reply against any post and want to
insert a link, the option "Insert Hyperlink" disappears, what is the
problem? Where am I mistaking?
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Don't assume any thing, always check/ask and clear yourself
I believe that SavvyExacta answered your post to a tee. It seems to me that you are forgetting the step where you highlight the text where you want to insert a link. In order to use the "insert hyperlink" button, you need to have text to use as a base for the link.
You can also create a link by copy and pasting the url in the text field, then highlighting the url and clicking the "Insert Hyperlink" button. Click Submit and you have yourself a working link. Example 1 shows the link just being copy and pasted in. Example 2 shows what it should look like when you insert the link.