Topic: 3 things should not be too in trading (Read 1305 times)

People rely so much on others that they forget no matter what advice they took or followed, every decision they make is still on their shoulders. People are naturally not confident to do things, so they consult others if they should do it or not. And whenever if its a failure, they would blame the person that advises them--that's a messed up mentality.

If you think about it, the opinions of other people don't really mean anything for you, it only means for them. Though there are good positive advice and would really help you, still that's not enough to make you better. You need to do things your way and learn from it, failure is proof that everything isn't easy, you have to go through a lot before you achieve something good. Believe it or not, even "gifted"/talented people never stop to polish their "gift"/talents.

1.Don't trade while your drunk.

People rely so much on others that they forget no matter what advice they took or followed, every decision they make is still on their shoulders. People are naturally not confident to do things, so they consult others if they should do it or not. And whenever if its a failure, they would blame the person that advises them--that's a messed up mentality.

If you think about it, the opinions of other people don't really mean anything for you, it only means for them. Though there are good positive advice and would really help you, still that's not enough to make you better. You need to do things your way and learn from it, failure is proof that everything isn't easy, you have to go through a lot before you achieve something good. Believe it or not, even "gifted"/talented people never stop to polish their "gift"/talents.

Borrowing is never to be encouraged except maybe the trader is extremely sure that he is a professional trader because when you borrow to trade in a market that has lots of volatility and uncertainties, once could lose all the money and there is also probability of having lost of profit, but the risk in borrowing is too much to take, so I believe your advice is still the best to be taken by those people.

It is better we save little money and then start to use it to trade until it becomes a parcel of us and we have mastered everything to give little chance to failure, if we start with little and we are diligent with our trade, I believe that we will be able to gradually build the value up gradually till it becomes high.

going through lending platforms should be considered only if you're at least knowledgable or experienced already in trading. I don't recommend borrowing if you're still trying to get a feel of the market. Stick to trading with small amounts you can spare since that would be the time where you'd mostly encounter consistent losses but helpful experiences.

trading is about you and yourself , why bother to look at chatbox and get a random advice there lol.

you know nothing about trading if you are trying to get a god help through the chat box , even a desperate trader will stick to their own personal analysis rather than begging for an advice , i mean to consider it as a reference can still be justified.
but when you start trading based on people's opinion, that time you are switching yourself into a game called gambling.
keep in mind that you won't be able to become a good trader who making profit constantly overnight , there is a long way to go through.

learning and develop yourself up is the key , finding what should you do and what shouldn't you do in trading is the best teacher you'll get through trading experience by yourself without bothering people around you, keep moving on no matter you get a straight loss, it is the part of the success procces.

Especially the one on Yobit. There was a better one on BTCe but that's long gone.

It's a simple truth in trading that poor people read all the guides and analysis they can get and they are still manipulated and barely earn anything. Rich guys don't need to read TA all they need is visible on the chart as they go and the big supply of money they have does the rest.

Definitely we should not trade more than what we have. Its always been encouraging to trade more to gain more. However, we should know our limits. As they say, too much is something bad enough. Being in moderation is not bad. Its better to be safe than sorry. And being simple and basic is mostly safe. Sometimes more knowledge may sometime confused you and lost your focus.

When greed comes after we have some market wins, we are often subjective and greedy, thinking that we can beat the market every time we open positions. it's a sign that you're about to go bankrupt or lose it all.

Knowing too many methods will dilute our real experience. For me, I choose only the best and most accurate methods to learn.

Besides, I don't want to know anymore because it's too confusing and uncertain.

Me too, I am borrowing money here for trading, But I have my own money. I just need additional capital for more significant profits. That's basically what am I doing when I am sure on that trend or that news, I will go all in and set a stop loss, So if I am wrong so that I can pay for the money that I borrow. Still, so far, I am not losing when I predicted that it will be a sure thing.

I just want to share, there are some people in the cryptocurrency space that utilize lending platforms to have initial funds for them to trade. Could we consider it as trading amount more than what we have? because for me, as long as you know how how to trade and you're willing to risk amounts of your funds it will be okay. But risking too much such as a newbie borrowing money is not advisable.

I just want to share, there are some people in the cryptocurrency space that utilize lending platforms to have initial funds for them to trade. Could we consider it as trading amount more than what we have? because for me, as long as you know how how to trade and you're willing to risk amounts of your funds it will be okay. But risking too much such as a newbie borrowing money is not advisable.

You're right, tho.  There are a lot of things one should not do whilst drunk and trading, gambling, browsing ebay, and pretty much anything to do with money top the list.

That's why casinos always comp their players with free drinks.  They know.

As far as trading is concerned, you really need your wits about you and when you're impaired you stand a greater chance of losing money. 

1.  Don't trade while your drunk.  

Definitely we should not trade more than what we have. Its always been encouraging to trade more to gain more. However, we should know our limits. As they say, too much is something bad enough. Being in moderation is not bad. Its better to be safe than sorry. And being simple and basic is mostly safe. Sometimes more knowledge may sometime confused you and lost your focus.

Trade too much

This is probably the very common case. Trade too many orders at a time. I once met surfing traders who traded hundreds of orders a day. Almost every day glued to the screen to transact. People who trade this way often hate to set stoploss, of course I still meet people with stoploss and they often take short profits, enter the market continuously and can say their trading history is very beautiful. , rarely see loss orders.
However, once they are at a loss, these traders are the ones who are most psychologically vulnerable, but because they trade often, they always put their capital and psychology behind the priority list. transaction plan. A single loss can make them more vulnerable to psychological and trading out of control. Even resulting in gongs and account destruction.
There is another case that is trade addiction. These traders often prefer to enter continuous orders. Sometimes they don't have any basis for trading, because they want to trade, want to be able to get in and out and see a positive account. But once they lose, they easily fall into the kind of revenge deal. Often new traders easily fall into this situation. In any case, it's still not good for traders at all. If you are at a loss in this case then do not blame anyone, you are the cause of your account.
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The trading volume is too large

This is yet another common case for trades that clearly show greed and desire to eat thick. No matter how good your analysis is, if you enter the market with such a large volume you are gambling. You ignore the probability of the market.
Trading volume is too large, which makes the trader psychologically if the price goes against the judgment. This proves that traders have no rules in capital management and gradually it becomes a habit that makes traders overlook stoploss placement. It is a very dangerous thinking, if keeping this way of trading, it is very difficult to go far from the market.
When trading large amounts, your account goes faster than you think. Once you lose money, this loss will cause you to lose control and make many wrong decisions and lead to losing money. So if you have a large trade loss, do not rush to blame the market or method. The number one cause lies in yourself.

Know too many methods

Many traders take a long time to read and save on trading and then apply to their account. The result is more than expected. Losing no more armor, losing to the end.
This is also the case without exception. The trading method is what makes traders the easiest to fall in. Rarely does anyone try to be patient with a method, learn every nook and cranny of that method to confirm whether they are effective or not, but the trader just keeps looking at the profits and then trading for a couple of weeks to see no results. is to find another.
When I know too many methods, it is easy for a trader to realize that I know a lot about trading, I go through many methods, each holding a little. But the final problem is that the trade is still inefficient, even though the trade knows much, sometimes it makes the trade make the wrong trading decision. Knowing too many methods easily makes traders lose confidence and frustration.
Best traders should not know many methods, just understand and know how to operate 1 to 2 methods is good enough. Left focus on managing capital and psychology. Slowly the results will be improved.
In short, anything too is not good. Everything should be at a moderate level, we learn a little bit each day, trade a little bit each day, forge a little each day. We go slowly, the results come slowly and go hand in hand throughout our trading journey. If you do not want to lose, firstly traders need to remember 3 things that should not be so in trading!