Topic: 4 factors that could destroy your Trading - page 7. (Read 1234 times)
Regret out of all these factors is the most fatal and if you can not control and delete the negative emotion of regret, it will rob you and blind you to see present opportunities. The past has happened, leave the regret in the past.
Excellent discussion you have made here, I totally agree with you on this point. I also think that people usually become finished when they don't have any control over their greed and fear. these two elements are very much important for getting successful anywhere. But without being hopeful, no one can get anything. So i think hope is a vital thing for making a history in your life.
I understand those emotions and already felt it when I was still doing my day trades before. I remembered the mixed feelings of fear, greed and regret during and after I execute my trades. Reflecting to those experiences is the best thing to do after you trade to see the things that directly affect your trading activities and make a solution for it in order to make a positive results for your next trades.
I will add for the factors is the emotions. Emotions is the cause why you are greedy in every trade if you have a profit you want to sell directly to prevent from the dump of the price. The emotions is controlling you to will not hold a coin because in your mind it will dump.
Building on your idea of fear we have the almighty FOMO. But it isn't only FOMO in the sense you want to catch a coin going up, you can also FOMO and not sell a coin because you fear it may go higher. Fear plays on a lot of our primal instincts and for purposes of trading we need to get rid of our irrational fears.
I think greed and fear are truly the main the factors that negatively influence peoples gains when it comes trading. The invincibility feeling that people get when they prices rise astronomically is what causes them to miss out of gains because many of them end up holding thinking the prices are gonna keep going up when in reality they end up crashing. Furthermore, the fear of actually buying in or the fear of further losses is what causes people to lose significant amounts of money because people end up either never investing, or they sell during a crash because they think its going to 0.
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.
- 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.
I completely agree, especially fear and greed, are dangerous for the trader. On the other hand, it is thanks to such traders and their mistakes that many earn income. Imagine if in the market everyone trade unmistakably.
Well, I agree with what you wrote in OP, there are many obstacles that negatively affect on the trader, especially the beginners in this field, this often results in many problems like, major financial losses, and even a psychological issue because Unfortunately, many do not accept a repeated losses. Furthermore, some believe that the field of trading is easy to win a lot of money, but that is a wrong belief, and when many of them start in this area, they fail to achieve their financial goals, then their views or opinions change.
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.
- 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.
I Agreed on what you stated, emotion trading is the hardest obstacle to overcome in trading, rather than stick with the first plan we made. People tend to succumb into emotion when they win or lose, because of human nature make us difficult to work logically when we achieve something, we want recognition and when we lose something we want revenge. But mostly i think greed is the most definite factor we need to overcome when trading because greed make us to increase more position than we should've taken and it makes our trading more risky.
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.
That defining characteristics comes with great knowledge of what to do which is something anyone who does not have any plan would always find hard to do anyway. I remembered when I started trading and all I was doing was to keep having patience in my trading, like some still are today, this is one myth that people only use to console themselves when it comes to trading.It is always better to be safe than sorry and a lot of people are there playing the charts like they are gambling which is why they always end up losing big time and effort. Making a plan and sticking within that plan will help any trader rather than going for on the spot decisions.
Follow me if breaking the deal leads to failure maybe because you are too impatient. impatient in business. So that led to failure for you. In my opinion we should not be too impatient in the BTC business.
So what factors do you think lead to impatience?- 1 you spent all your money to invest in bitcoin.
- 2 you borrow money with big monthly interest to invest in bitcoin.
- you have no faith.
- you do not understand much about the market.
Which affects the loss of your patience?
information is very useful for beginners to start trading, I think emotions are very influential in trading because if our emotions are not controlled we will regret in the end.
Follow me if breaking the deal leads to failure maybe because you are too impatient. impatient in business. So that led to failure for you. In my opinion we should not be too impatient in the BTC business.
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 hit the nail right on the head. One of the things needed to mature beyond emotions is to have a time tested strategy that works. I believe this is where most people get it wrong. They trade haphazardly with no defined trading rules. The other key factor is proper Risk management. Most crypto investors are gambling, trading or investing without proper risk and money management- 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.
He hit it because universal nature of his factors. I trade but gambling is more my thing and all this factors works for gambling too, and many other things.
Who ever follows this factors, or to be precise who ever have enough control over emotions when it comes to trading or gambling will be successful. This factors directly affect our decisions, and if we fall under them we will make bad decisions and most probably we will not make profit. Having better self control is something that can be learned trough practice, more you try and more you practice more likely is that you can master it, if you can't its better for you to quit while you still have some money in your wallet.
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 hit the nail right on the head. One of the things needed to mature beyond emotions is to have a time tested strategy that works. I believe this is where most people get it wrong. They trade haphazardly with no defined trading rules. The other key factor is proper Risk management. Most crypto investors are gambling, trading or investing without proper risk and money management- 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.
Definitely greed has played a part in my situation, not knowing when to actually take some profit and move along to the next one, also fear, FOMO was a factor in making a loss and investing at the wrong time.
Over time these lessons are learned but for my it took a few years to get to a steady level headed situation.
Over time these lessons are learned but for my it took a few years to get to a steady level headed situation.
Agree!! Trading is not a battle between you and other traders. It's a battle between you and yourself! Emotions play a big part in trading success. You have to overcome your emotions. In trading, it's like playing poker, you cannot show your emotions because if you do, you're a dead man!
It's a practice which is needed before hand, trading dwell between you and yourself, if you can conquer your emotions then you are doing good, the flowof success is much easier, each time that you battle with your own self because of some emotional stress like greediness, will be the same time that you
will lose your chances to earn much better, control yourself and you will control your success.
Agree!! Trading is not a battle between you and other traders. It's a battle between you and yourself! Emotions play a big part in trading success. You have to overcome your emotions. In trading, it's like playing poker, you cannot show your emotions because if you do, you're a dead man!
Greed is the trickiest of all emotions. You realize you've been greedy only after you've lost money. Oh well...
Excellent list, I would add here still impatience, although it intersects with all the other enemies of the trader, even for me personally was the main hindrance.
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