I think most day traders fail for one main reason: they are too eager to trade EVERY day. They forget that they are not obligated to trade every single day like institutional traders and they can stop, think and rest.
Others are standard reasons like FOMO, bad money management, etc. I count not taking trading fee discounts as bad money management...
Topic: 2 Reasons Noobs Fail At Trading - page 5. (Read 741 times)
Might be a noob reason to someone but I see it's way better for me that people experienced those.
Why? To try to prevent it in future actions.
Will not go technical as it requires long writing but Im willing to discussed it. It's just that Im trying to say here that majority of sh*t must be experienced by traders in order to be used to it. Anyhow they will improved as they progress.
Why? To try to prevent it in future actions.
Will not go technical as it requires long writing but Im willing to discussed it. It's just that Im trying to say here that majority of sh*t must be experienced by traders in order to be used to it. Anyhow they will improved as they progress.
I do hear even professional traders also getting failed time to time because market volatile is highly unpredictable for most of the traders regardless of how experienced they are. I mean to say any trader may fail but what is their overall results when considering at the week-end or month-end that alone will be the right measurement for analyzing the performance to classify whether they are noob traders or not.
Some shit happen always come to me went i was using Stop Lose, every goddamn my crypto hit the price i set for the stop lose. after that the price was backup again, i need to set it up correctly.
Thats the most annoying thing in the damn world hahaha; thats why I usually set mine a little lower than I am comfortable with; still though Nauticus not having this is a hassle and a half.
Some shit happen always come to me went i was using Stop Lose, every goddamn my crypto hit the price i set for the stop lose. after that the price was backup again, i need to set it up correctly.
Full time trading with crypto can be HARD! However, a lot of new traders fail due to two fundamental flaws.
1 - Not utilizing discounted trading platforms or functions
2 - Not utilizing stop losses (or setting stop losses in the wrong spots)
Determining where Bitcoin will go hasn't been hard. Determining where Bitcoin will go from a neutral market...now that's a different animal. If you're bullish on a certain crypto always use a stop loss. Look for points of resistance and support, then set your stop losses accordingly. If you are trading and "scalping" your trades, you need to make sure you are paying little to no trading fees. Coinbase pro allows "makers" to pay $0 in fees (limit buy and sell orders). Nauticus is new and offers 99% discounts on all trades atm https://nauticus.exchange/exchange/NTSBTC . Binance allows you to use BNB and receive discounts for it. This isn't rocket science tho guys. Learn how to short, when to open bullish positions, and don't get destroyed by fees from the bigger sites
1 - Not utilizing discounted trading platforms or functions
2 - Not utilizing stop losses (or setting stop losses in the wrong spots)
Determining where Bitcoin will go hasn't been hard. Determining where Bitcoin will go from a neutral market...now that's a different animal. If you're bullish on a certain crypto always use a stop loss. Look for points of resistance and support, then set your stop losses accordingly. If you are trading and "scalping" your trades, you need to make sure you are paying little to no trading fees. Coinbase pro allows "makers" to pay $0 in fees (limit buy and sell orders). Nauticus is new and offers 99% discounts on all trades atm https://nauticus.exchange/exchange/NTSBTC . Binance allows you to use BNB and receive discounts for it. This isn't rocket science tho guys. Learn how to short, when to open bullish positions, and don't get destroyed by fees from the bigger sites
Forgetting stop losses has totally screwed me multiple times. Nauticus really needs to put all those features on their website. I heard theyre coming though.
Full time trading with crypto can be HARD! However, a lot of new traders fail due to two fundamental flaws.
1 - Not utilizing discounted trading platforms or functions
2 - Not utilizing stop losses (or setting stop losses in the wrong spots)
Determining where Bitcoin will go hasn't been hard. Determining where Bitcoin will go from a neutral market...now that's a different animal. If you're bullish on a certain crypto always use a stop loss. Look for points of resistance and support, then set your stop losses accordingly. If you are trading and "scalping" your trades, you need to make sure you are paying little to no trading fees. Coinbase pro allows "makers" to pay $0 in fees (limit buy and sell orders). Nauticus is new and offers 99% discounts on all trades atm https://nauticus.exchange/exchange/NTSBTC . Binance allows you to use BNB and receive discounts for it. This isn't rocket science tho guys. Learn how to short, when to open bullish positions, and don't get destroyed by fees from the bigger sites
1 - Not utilizing discounted trading platforms or functions
2 - Not utilizing stop losses (or setting stop losses in the wrong spots)
Determining where Bitcoin will go hasn't been hard. Determining where Bitcoin will go from a neutral market...now that's a different animal. If you're bullish on a certain crypto always use a stop loss. Look for points of resistance and support, then set your stop losses accordingly. If you are trading and "scalping" your trades, you need to make sure you are paying little to no trading fees. Coinbase pro allows "makers" to pay $0 in fees (limit buy and sell orders). Nauticus is new and offers 99% discounts on all trades atm https://nauticus.exchange/exchange/NTSBTC . Binance allows you to use BNB and receive discounts for it. This isn't rocket science tho guys. Learn how to short, when to open bullish positions, and don't get destroyed by fees from the bigger sites
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