Fear is most important part here as most of the people are victimized by fear which leads to FUD and FOMO. Many people tend to loose a big amount of money because of fear. An easy way to dismiss this fear is to invest and forget about it until a particular time. No anxiousness will lead to no fear.
Adding to your list, "Lack of knowledge" about crypto is another thing which people should thrive to attain. The more knowledge you have about crypto the better analysis you will be able to make and the better selection of coin you will achieve. This will also boost up your portfolio.
Topic: 4 factors that could destroy your Trading - page 10. (Read 1234 times)
It is important to learn certain key aspects of trading, for example, understanding the use of technical analysis as well as the use of intuition like knowing when to enter the market. Basically, it is important to realise you may loose because it is not always that technical analysis predict accurately as may be indicated. Market movement is not always predictable. I have experienced a situation where you enter the market only to experience a sudden fall in price soon afterwards. Patience is important. In most cases the market will be back it all depends on the strategy one adopts. It is a good practice, in my opinion, to continue to learn better ways to trade as well as manage ones emotional state.
I do thất bại in the transaction is not exist, this is the most priority in the first fourth. Thứ hai is guessing the direction of the field market, if you have a sure you sure you will guess your xu hướng of their, but if bad guess you will will lose hole.
To my opinion the worst factor that can destroy trading is lack of patience and making decisions with too much emotions and not with cool head.
Other common mistake that traders often make is trying to cover losses as soon as possible and then they make big mistakes thinking the next trade will be their saviour.
Probably every trader has made some of these mistakes sometimes but the key is to learn from mistakes and don't let them happen again.
Other common mistake that traders often make is trying to cover losses as soon as possible and then they make big mistakes thinking the next trade will be their saviour.
Probably every trader has made some of these mistakes sometimes but the key is to learn from mistakes and don't let them happen again.
Trading Too Frequently. Overtrading can erode returns to the point where nice profits turn into significant losses. While experienced traders have generally learned the hard way that trading too frequently can be severely detrimental to overall returns and performance, new traders may have yet to learn this lesson.
There may be many destroying factors, however, the most important one is your behavior. If you take wrong steps and act very emotionally, you will never achieve success. You should be patient and calm, use an analytical mind and learn basics of trading.
A lot of factors can destroy our trading usually being impatient, impulsive decisions to buy and sell our coins and a lot more. Well behaviour contributes to destroy trading performance so we must be patience in all of our trading.
Those factors do affect your trading, since it is within the trader, it will depend on how they will handle those emotions, but I see a different perspective and it seems to be common for traders tk make these mistakes, first is their emotions in the market, thus I agree with your perspective, if the trader holds for a long time in market there is chance that they may win or loose, a treader needs to overcome those emotions and read fhe charts wisely, second, is the fact that most traders only rely on their experiences and hunches, they forgot on how they started, continuous education mst stjll take place in order to make progress, the third for me is lacking of financial support, we have to admit it, we could only trade in the market if we have enough money for the trade, though we have skills and knowlddge, without the budget for trading we couldn't even start, the fourth thing that I see that destroys a trader is the attitude, some could 't take a loss, and those persons tend to be suicidal, putting all their moneh in trade.
There may be many destroying factors, however, the most important one is your behavior. If you take wrong steps and act very emotionally, you will never achieve success. You should be patient and calm, use an analytical mind and learn basics of trading.
Failure to Implement Stop-Loss Orders . Stop-loss orders are crucial for trading success, and failure to implement them is one of the worst mistakes that can be made by a novice trader. Tight stop losses generally mean that losses are capped before they become sizable. While there is a risk that a stop order on long positions may be implemented at levels well below those specified if the security gaps lower, the benefits of such orders outweigh this risk. A corollary to this common trading mistake is when a trader cancels a stop order on a losing trade just before it can be triggered, because he or she believes that the security is getting to a point where it will reverse course imminently and enable the trade to still be successful.
One of the defining characteristics of successful traders is their ability to take a small loss quickly if a trade is not working out and move on to the next trade idea. Unsuccessful traders, on the other hand, get paralyzed if a trade goes against them. Rather than taking quick action to cap a loss, they may hold on to a losing position in the hope that the trade will eventually work out. In addition to tying up trading capital for an inordinate period of time in a losing trade, such inaction may result in mounting losses and severe depletion of capital.
For the years that I have been here in this forum I have learned that the factors that could destroy your trading is YOU, you are the one who creates your life here and you are the responsible as well when you created mistakes and you will also be the liable in fixing it or you will just stop trading and just let go. So, your choice is in you.
Controlling our emotion is a very hard thing to do especially when it comes to things that could trigger a sudden change in our mood or emotions. That is why, if we want to be successful in trading, we must slowly start changing ourselves, it is okay to continue what you have been doing, like frequently checking the price of the coin you trade in, but be sure to lessen doing it little by little until its okay for you to check the price every once in a while.
I would add here impatience. Trading loves very patient people, stable and with clean minds. You must also learn how to think logically.
Sometimes, patience works for those who are doing long term trading and at least they are sure they have entered at a very good position. Better still, I will say the lack of strategy is what has led the funds of some traders to their early grave.Okay, taking a look at the chart example that the Op gave as I was in this trade as well. Someone decided to trade a breakout and then it ended up a fake one, it is always good to know when to stop your loss and wait for a better position to buy back in. Take a look at what patience would have caused the person holding from that top.
From myself I will add.
A good trader knows how to be patient and disciplined.
A good trader understands that all trades cannot be successful, some of them will be unprofitable.
A good trader devotes a lot of time to market analysis.
After studying the charts, using trading indicators and other tools of the trader, the trader makes decisions.
Then the trader places orders and stop losses and watches the price changes.
It does not make impulsive decisions, but just patiently waits for buy or sell orders to be triggered.
Occasionally corrects orders.
A good trader knows how to be patient and disciplined.
A good trader understands that all trades cannot be successful, some of them will be unprofitable.
A good trader devotes a lot of time to market analysis.
After studying the charts, using trading indicators and other tools of the trader, the trader makes decisions.
Then the trader places orders and stop losses and watches the price changes.
It does not make impulsive decisions, but just patiently waits for buy or sell orders to be triggered.
Occasionally corrects orders.
Most important thing is to go with the brain and not the heart. You have to be cold blooded and know when to cut ties with a coin / when to buy another coin. Your brain is telling to not to sell at a dip, but your heart wants you to because it's scared. Listen to the brain.
I definitely agree with the OP stating that these types of emotions could ruin your trading. But out of all these feelings, I think fear would be the most top factor that could lead to a lot losses. That's why most people who have been in trading for a couple of years always say it is not for the fainted heart, it is for those who have a lot of patience and would not be affected even if their portfolios are all red and stayed positive the whole time.
Trading is only for those people who have strong heart to encounter risk and adversities in holding their investment, those who are impatience and afraid of losing their money cannot succeed in any kind of investment. Crypto currency are unpredictable and very volatile, it can go so much higher than we could imagine and can drop as worst as it can be. But being a trader this difficulties should not harm their faith and continue to hold their investment until such time the market recover.
I guess that even though you only posted generic emotions, you are correct on everything you said. I think this thread would be amazing if users actually discussed what strategies they use in order to cope with these emotions while they trade, and how they minimize it's influence in order to become good traders. I still don't trade, because I think I need to develop my knowledge about it first, instead of just jumping it searching for profit. If I did that I would probably be taken away by all the emotions you described, since I would be missing the basic fundamentals that would allow me to develop and trust my trading strategy.
See market prices of crypto currency increasingly fluctuate I think there are a lot of traders who suffered losses, and In taking a decision, many traders are still affected by emotions. Fourth factor that's the meaning, of is a type of emotions:
- Greed
Almost all traders familiar with the types of emotions, the desire to obtain profit possible in a very short time. Greedy nature incurred due to excessive self-confidence. Usually happens after the trader earn profit in a row. They are not aware or forgot that important fact in trading is not can expect definite results of each trade.
- Fear
A sense of fear entered the market usually occur after consecutive losses experienced trader. Fear is basically a natural response so that we can survive in the market. However, excessive fear will make traders lost the opportunity to gain profit. During trader comply with rules risk management and trading plan has been made, he should not be afraid to enter the market.
- Hope
Excessive hopes or unrealistic in trading could harm. Hope to always profit often cause traders to not follow trading plan that has been agreed upon.
- Regret
Regrets that constantly will destroy trading gradually. Regret usually arise after a trader lost some chances to buy or sell, or after experiencing considerable losses. If it is not quickly resolved, the kind of emotion this would be developed into fear, and in extreme cases could make him leave the world of trading.
To prevent these types of emotions , we should always be aware of whether we're in emotions when trading, because trading with the emotions will only make our trading destroy.
You are right, these four reasons are the causes that can destroy the trade, these four things are the kind of emotions that everyone has and are difficult to control or hold. Everyone is unaware and always thinks little with it, but it is this little thing that can destroy our great desire to trade. I think all these emotions can destroy trading because of lack of knowledge about trading, if they have a lot of knowledge about trading then they are easier to manage their emotions.- Greed
Almost all traders familiar with the types of emotions, the desire to obtain profit possible in a very short time. Greedy nature incurred due to excessive self-confidence. Usually happens after the trader earn profit in a row. They are not aware or forgot that important fact in trading is not can expect definite results of each trade.
- Fear
A sense of fear entered the market usually occur after consecutive losses experienced trader. Fear is basically a natural response so that we can survive in the market. However, excessive fear will make traders lost the opportunity to gain profit. During trader comply with rules risk management and trading plan has been made, he should not be afraid to enter the market.
- Hope
Excessive hopes or unrealistic in trading could harm. Hope to always profit often cause traders to not follow trading plan that has been agreed upon.
- Regret
Regrets that constantly will destroy trading gradually. Regret usually arise after a trader lost some chances to buy or sell, or after experiencing considerable losses. If it is not quickly resolved, the kind of emotion this would be developed into fear, and in extreme cases could make him leave the world of trading.
To prevent these types of emotions , we should always be aware of whether we're in emotions when trading, because trading with the emotions will only make our trading destroy.
See market prices of crypto currency increasingly fluctuate I think there are a lot of traders who suffered losses, and In taking a decision, many traders are still affected by emotions. Fourth factor that's the meaning, of is a type of emotions:
- Greed
Almost all traders familiar with the types of emotions, the desire to obtain profit possible in a very short time. Greedy nature incurred due to excessive self-confidence. Usually happens after the trader earn profit in a row. They are not aware or forgot that important fact in trading is not can expect definite results of each trade.
- Fear
A sense of fear entered the market usually occur after consecutive losses experienced trader. Fear is basically a natural response so that we can survive in the market. However, excessive fear will make traders lost the opportunity to gain profit. During trader comply with rules risk management and trading plan has been made, he should not be afraid to enter the market.
- Hope
Excessive hopes or unrealistic in trading could harm. Hope to always profit often cause traders to not follow trading plan that has been agreed upon.
- Regret
Regrets that constantly will destroy trading gradually. Regret usually arise after a trader lost some chances to buy or sell, or after experiencing considerable losses. If it is not quickly resolved, the kind of emotion this would be developed into fear, and in extreme cases could make him leave the world of trading.
To prevent these types of emotions , we should always be aware of whether we're in emotions when trading, because trading with the emotions will only make our trading destroy.
You are right, these four reasons are the causes that can destroy the trade, these four things are the kind of emotions that everyone has and are difficult to control or hold. Everyone is unaware and always thinks little with it, but it is this little thing that can destroy our great desire to trade. I think all these emotions can destroy trading because of lack of knowledge about trading, if they have a lot of knowledge about trading then they are easier to manage their emotions. - Greed
Almost all traders familiar with the types of emotions, the desire to obtain profit possible in a very short time. Greedy nature incurred due to excessive self-confidence. Usually happens after the trader earn profit in a row. They are not aware or forgot that important fact in trading is not can expect definite results of each trade.
- Fear
A sense of fear entered the market usually occur after consecutive losses experienced trader. Fear is basically a natural response so that we can survive in the market. However, excessive fear will make traders lost the opportunity to gain profit. During trader comply with rules risk management and trading plan has been made, he should not be afraid to enter the market.
- Hope
Excessive hopes or unrealistic in trading could harm. Hope to always profit often cause traders to not follow trading plan that has been agreed upon.
- Regret
Regrets that constantly will destroy trading gradually. Regret usually arise after a trader lost some chances to buy or sell, or after experiencing considerable losses. If it is not quickly resolved, the kind of emotion this would be developed into fear, and in extreme cases could make him leave the world of trading.
To prevent these types of emotions , we should always be aware of whether we're in emotions when trading, because trading with the emotions will only make our trading destroy.
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