Some lessons I learnt the hard way...
1. Sell parabolic crypto (3-5×)
2. Sell everything into fiat if entire market is parabolic and everyone is euphoric June 2017, Jan 2018.
3. Never panic sell at massive lows (ie NEO during China FUD)
4. Don't FOMO into parabolic positions... ever... always lost money that way
5. Stick to simple strategies buy low sell high. Day trading is mentally taxing and very challenging early on
6. If a project is sound but has a terrible name dont let that stop you from buying (Antshares, Bitquence)
7. Take the time to research projects before buying or elae you won't have the conviction to hold them before the bull run starts
Topic: 4 factors that could destroy your Trading - page 8. (Read 1235 times)
legendary
Activity: 2576
Merit: 1043
Little_Mouse Campaign Management | OrangeFren.com
I agree with that you said because I am a trader too. I experienced all 4 of the factors that you have given to us. I would like to add impatience in the factors that could destroy traders. Impatience is inter connected with greed for me I think because if you are a greedy person, you want to make a profit in a short time making a person impatient. There are many factors that could destroy traders but thanks you shared your opinions 
Thanks for the tips
Excessive hope has robbed many of profit made in paper of which they have been unable to convert to bitcoin because they keep hoping that their coin will continue to rise in perpetuity.
Exactly!!! Those emotions of a trader will bring too much losses! If you know to your self that you own those attitudes, then don't ever try trading job. If you want to be trader,get your self ready with fudds and fomo's around,ignore them. Only trader knows!
A weak heart should be avoiding trading at all cost because in crypto currency the market tumbles very badly and it can cause you a panic attack if you are not used to it or cannot see those downfall frequently. It is not a easy to do trading especially in bitcoin.
I definitely agreed all the emotions you've mentioned. As far as I know, it is just a natural response from a crypto user like me. I do trading and I feel like I am having so much greed which is I think not healthy for a trader. If we can still control our emotions I believe we can be a good trader in our next transactions. Fear of lossing profits is also one of my enemy, but then cut losses is my friend for me to play safe.
I think it's all because of fear! Fear is not only in trading, but according to all the criteria of life, to which he relates, he simply destroys everything. You need to learn how to control your fear first, then everything else itself will come.
You are right, fear really is the very first enemy of man. Because of fear, you can lose everything. The main thing is not afraid to lose everything, here is the most important rule of trade in crypto-currencies. 
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.
I think it's all because of fear! Fear is not only in trading, but according to all the criteria of life, to which he relates, he simply destroys everything. You need to learn how to control your fear first, then everything else itself will come. - 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.
Good article, I fully agree with you, as for me, greed and fear are the most dangerous ones.
I think that all factors may have a negative impact but as for me the main one is greed. it prevents from the logical thinking. people don't know when to stop and finally lose everything
If you are not able to take any decisions on your own, then it is better not to invest your money into any business, trading cannot be seen as gambling where greed takes over decision making, all you have to do is to play smart, follow the market and take decisions according to different trends, never complicate things, if you are not able to follow the market make sure you appoint an adviser who knows the market, rather than gamble with your money. 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.
Sometimes Fear is not as bad thing as it seems,because I often realize possible results better and I'm always trying to be more careful,Its more like a self control mechanism sometimes('just fear'),But of course exaggerated assessments are always very bad for our job,Its not about only crypto market,Its an axiom in everywhere and everything.What about Hope,Its not equal to unrealistic things,Hope maybe well-grounded and unrealistic things not.Anyway all we have individual strategies and theories,which wouldn't be successful in every concrete situation,So the key is experience and knowledge.
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. In my opinion patience factor is most needed in all types of business. If you do not have the patience, you will probably make a hasty decision in the long run.
I agree with you on this one, most traders are only looking for short-term profits.. A little more patience and some stronger hands will contribute to succes in the long run I guess.
In the past I've made such hasty decisions which didn't turn out in my favour, but trading can also be a learning process. Like most things, learning from your mistakes is an important lesson!!
During trading, we have to control the emotions when the price is increasing and decreasing, don't look for short profits because we have to the potential project in order to make a profit from it.
Through learning, we can make huge steps because within the single day we cannot make the ton of BTC, it will take years to become perfect in trading. So it is always good to learn lessons from your previous mistakes.
I'm so agree and I think the hardest one is greed , Sometimes i have lost because I wanted more than my daily goals and it made me to trade more and it causes loss!
Sometimes it is the hardest thing to control your greed when you think you can have more but actually you can't!
Sometimes it is the hardest thing to control your greed when you think you can have more but actually you can't!
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.
I think that lake of knowledge is the main thing which will destroy your trading business although there are many other factors for loos in trading. Focus on market and study all bitcoin and Altcoin and then start trading in it. It will be much better and you will be able to secure your money. Trading is a good business but it needs easy and inexperienced person lose his money. 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.
Holding in the transaction will eliminate all adverse factors such as greed, fear, hope, wait. Because if you become a holder, you will keep them for a long time depending on how long you decide to hold them. Holding does not have to worry about the bad things going on and the events will take place.
Many people have mis-concepted this holding strategy. They think it of a method where once you bought the coins and settle them in wallet and then you are just forgetting them for long and long times. No, this isn’t right plan for execution. You have to keep updated with what is happening around and how your coin is behaving in difference scenarios, only then better profit can be obtained.
There are a number of factors that can affect the increase or decrease of the crypto currency. To begin with, growth may be triggered by high demand, while the purchase of crypto currency for speculative purposes affects supply.
I think that all factors may have a negative impact but as for me the main one is greed. it prevents from the logical thinking. people don't know when to stop and finally lose everything
In my opinion patience factor is most needed in all types of business. If you do not have the patience, you will probably make a hasty decision in the long run.
I agree with you. Being patient is the most factor that should be considered when one intend to become a cryptocurrency trader. This is the prominent mistakes that most new traders make when they start out in trading. Though being greedy is another good factors too, cause most traders want to have it all and at the end, they end up putting their money on many shit coins that won't yearn any fruit . 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.
This makes sense to me because all of those 4 especially with impatience, that’s all me when I am still on my early days in cryptocurrency trading. Now that I have understand about how the game works in the cryptocurrency market, it seems that I have learned something, and experience is always the best teacher. However, I still have long ways to go before mastering the cryptocurrency trading even if the market is so unpredictable.
Jump to: