Always avoid overtrading
This is something that I didn't had control on. When I started trading, I used to keep on checking the prices to see if I had made any profits. Whenever the price used to go low I would panic and start selling which eventually resulted in loss in most of my trades. This is why I left trading.
Topic: 5 mistakes every crypto trader should avoid - page 3. (Read 1069 times)
The advise is all great but most of us already are aware of these rules, the only problem though is standing by them as emotions can often drive our actions much more than we anticipate. One aspect is that no one really knows for certain when and how much to go in and so inevitably there will be times when one makes a loss but at least its all part of the experience and one hopes that these mistakes get minimised overtime.
And this is the thing, though, although we hear and know what to do when it comes to trading it's like we don't respect those unless we experience the pain - funny isn't it!
And this is the thing, though, although we hear and know what to do when it comes to trading it's like we don't respect those unless we experience the pain - funny isn't it!
We have read up countless suggestion and advises like this on things that should really be avoided when trading up.Its already common but people do still fail on following even these basic things.I agree that the greatest factor that affects a certain trader is into its emotion.This is a strong force that would really mess things up if you dont able to control it.Experience is one of the most needed things because as a human being its just normal for us to react when we lose money or even win towards the market, so being emotional is always there, the thing here is that we should know how to deal and react on things according to any situation.
The advise is all great but most of us already are aware of these rules, the only problem though is standing by them as emotions can often drive our actions much more than we anticipate. One aspect is that no one really knows for certain when and how much to go in and so inevitably there will be times when one makes a loss but at least its all part of the experience and one hopes that these mistakes get minimised overtime.
And this is the thing, though, although we hear and know what to do when it comes to trading it's like we don't respect those unless we experience the pain - funny isn't it!
And this is the thing, though, although we hear and know what to do when it comes to trading it's like we don't respect those unless we experience the pain - funny isn't it!
I agree that mistakes has always been talked about but success stories are all different and that is pretty much the difficulty of trading. When you look at everyone who has failed you will see the common stuff, there are few ways you could fail and everyone who has failed has done some sort of ways of it, either it is just dealing with emotions or not researching enough or basically stuff that are derivatives of that.
However, when you check out people who made a lot of money by trading you will see that all of them have their own systems and ways which is why it is very hard to copy them since what they have done could work at that moment but could be a fail at any other time as well. I was there was 5 things every crypto trader should do instead of mistakes that should avoid.
However, when you check out people who made a lot of money by trading you will see that all of them have their own systems and ways which is why it is very hard to copy them since what they have done could work at that moment but could be a fail at any other time as well. I was there was 5 things every crypto trader should do instead of mistakes that should avoid.
This has all been discussed in various topics, then what often becomes the problem now is the way it works to avoid these mistakes. We give examples about learning liquidity, because many do not know how and where to learn it appropriately.
Moreover, this FOMO has more to do with self-control and knowledge, in order to avoid cases like this in cryptocurrency that is having more experience and FOMO has the same case or criteria so it will be easy if you have experience.
Moreover, this FOMO has more to do with self-control and knowledge, in order to avoid cases like this in cryptocurrency that is having more experience and FOMO has the same case or criteria so it will be easy if you have experience.
When the coin is down, very few people are interested, but when the coin has risen very high, traders will tend to buy more and that is why they are often stuck in that investment. In fact, I have come across many cases in the past and if you are not careful you will easily lose money here. However, occasionally there will be coins that are easy to trade and if you're lucky you will make huge profits.
But for people who already buy when the coin price is down, they will gladly sell the coin at a higher price. They will make a profit when the coin rise very high, but that will only happen for some traders who already use the opportunity to buy the coin at a low price. The common mistake that traders do is when the price gets a pump so high, they are panic, and they are buying instant without thinking about how long the pump will still happen. They don't want to miss a chance to get the pump, but they already miss the opportunity to buy at a low price before. We should not follow what they did because that will cause us to get lost without a chance to make a profit.
This fear of missing out (FOMO) is part of the reason that traders lose because most times, it is wrong timing for you. But you can't learn from it if you have not been a longtime trader who has built emotions on trade over time. You must be good at controlling your emotion on trade before you can avoid FOMO. Nice thread from OP.
This is the reason why most newbie traders fall from their emotions because of their weak hands also as the Fear is interfering the situation and has no full control of it.Thank you for sharing your knowledge about that, it is truly helpful among traders. I would like to add some thoughts regarding this “Always avoid over trading”, many traders always did that think because they focused on just earning a big profit, but it is wrong because when we over trader our capital and get lost in trading it is so much difficult to recover our capital so that it may result in quitting in the field of trading.
Thank you for sharing your knowledge about that, it is truly helpful among traders. I would like to add some thoughts regarding this “Always avoid over trading”, many traders always did that think because they focused on just earning a big profit, but it is wrong because when we over trader our capital and get lost in trading it is so much difficult to recover our capital so that it may result in quitting in the field of trading.
Thank you for sharing your knowledge about that, it is truly helpful among traders. I would like to add some thoughts regarding this “Always avoid over trading”, many traders always did that think because they focused on just earning a big profit, but it is wrong because when we over trader our capital and get lost in trading it is so much difficult to recover our capital so that it may result in quitting in the field of trading.
Thank you for sharing your knowledge about that, it is truly helpful among traders. I would like to add some thoughts regarding this “Always avoid over trading”, many traders always did that think because they focused on just earning a big profit, but it is wrong because when we over trader our capital and get lost in trading it is so much difficult to recover our capital so that it may result in quitting in the field of trading.
Agree. The point is everyone should take an education course or at least know the basics before getting into trading. FOMO is a big problem and can totally relate to it since i started trading in January 2018 and burned up 
Yeah that’s right every trading must learn how to trade well and how to avoid lose in trading. We have so many facilities that we can use to learn trading . Every trading must have high quality of knowledge about trading and he must be informed about all market changes. It’s not good for trader to lose patience or to trade his coins at panic.Agree. The point is everyone should take an education course or at least know the basics before getting into trading. FOMO is a big problem and can totally relate to it since i started trading in January 2018 and burned up
Yeah that’s right every trading must learn how to trade well and how to avoid lose in trading. We have so many facilities that we can use to learn trading . Every trading must have high quality of knowledge about trading and he must be informed about all market changes. It’s not good for trader to lose patience or to trade his coins at panic.
Agree. The point is everyone should take an education course or at least know the basics before getting into trading. FOMO is a big problem and can totally relate to it since i started trading in January 2018 and burned up
Such problems have often been discussed, everyone has a different opinion, and every trader has a different trading style, there are many mistakes in trading, especially beginners, they force themselves to enter the market while they do not understand the state of the market, they are very enthusiastic to get profits while not learning the right analysis, and many more mistakes made, especially by beginners.
True words, the worst thing is that now cryptocurrencies are connected with words like 'earn money fast' etc. For many young people who want to start, it could be a trap. To gain needed knowledge you have go through tens of articles and some tutorials, also experience is collected while trading. That stuff is not as simple as many people think. The key is to earn from our mistakes, however in this case sometimes it is too late.
No one can make profits at every trade if they are doing trading too often,so we have to accept the losses and need to learn how to minimize the losses in future which can help us to increase our total profits which result in net profits.
despite being aware of that, some people still trade every day, don't even accept their defeat, and can't control their emotions. This is also something that should be considered for every trader.some people sometimes feel that they can reach their targets easily. however, due to uncontrolled emotions, they sometimes become hasty, thus placing high orders of the potential coins. controlling emotions can make us predict prices at the right price that the coin can reach shortly.
Of course my emotions change often so now I will be patient and wait for a better time to come back.
Anyone that is putting in too much money on something that they are not about is making a huge mistake. I have seen a lot of newbies that joined cryptocurrency and without having the true idea of what cryptocurrencies are all about they just start investing in more money than they can afford to lose.
From what I've got to know, some of them do this due to what they were told; they heard that cryptocurrency is free money and they don't even think about the risk, thinking that they are going to just make lots of quick money.
People really need to mind the kind of words they put out about cryptocurrency, it is no free money and there are lots of risks involved in it. As the op said, anyone that wants to invest their money in cryptocurrency should always have it in mind that they are taking and putting what they can afford to lose.
From what I've got to know, some of them do this due to what they were told; they heard that cryptocurrency is free money and they don't even think about the risk, thinking that they are going to just make lots of quick money.
People really need to mind the kind of words they put out about cryptocurrency, it is no free money and there are lots of risks involved in it. As the op said, anyone that wants to invest their money in cryptocurrency should always have it in mind that they are taking and putting what they can afford to lose.
Previously, for the information you provided is very useful for beginners and crypto traders in general, I think many who have talked about the mistakes made by crypto certainly do not forget that there are many beginners who do not analyze and want to learn before they trade in crypto. everyone is different way of thinking and different ways they trade to make money from crypto without thinking that they will get a loss. Because a professional trader is good at finding opportunities and space to move to increase profits
I think that today has been all dedicated to educating the newbies because I have read several posts today all being directed to what the newbies are doing that is causing them mistakes and losses in their trade which of the post is this one. The issue I found with most new traders is that they want to quickly eat from the cake forgetting that this kind of cake would require them to learn how-to bake it first and make it done before they can eat it. Traders needs to have a sound and very string education background about trading before they think of taking upon themselves the risks that is associated to trading. There is a need for them to actually do lots of analyses in trading, of which they would not be able to do so without looking out there for someone or something that will make them have the pure understanding.
Like you said, if you wish to eat a cake you need to learn how to bake it! Its same with doing analyses, you need to learn about how to do it and then to try to do it.
Many people get carried away with idea of profit, except the profit they don't see anything else, and that's the first mistake newcomers make when they start with trading. And lets be real with one thing, trading is not for everyone! At least daily trading is not for everyone. Long term investments are something else, you can invest in coin and just wait, if you don't know in which one just put your money in bitcoin or ethereum, among some other reputable coins.
Its hard to be focused all the time in trading, especially if you have other things to do. To keep that concentration entire time, and to not make a mistake, you need to be very strong personality. I still make mistakes, even I'm trading for years! But its one more skill, to handle the loss and to get up again and continue with trading.
Previously, for the information you provided is very useful for beginners and crypto traders in general, I think many who have talked about the mistakes made by crypto certainly do not forget that there are many beginners who do not analyze and want to learn before they trade in crypto. everyone is different way of thinking and different ways they trade to make money from crypto without thinking that they will get a loss. Because a professional trader is good at finding opportunities and space to move to increase profits
I think that today has been all dedicated to educating the newbies because I have read several posts today all being directed to what the newbies are doing that is causing them mistakes and losses in their trade which of the post is this one. The issue I found with most new traders is that they want to quickly eat from the cake forgetting that this kind of cake would require them to learn how-to bake it first and make it done before they can eat it. Traders needs to have a sound and very string education background about trading before they think of taking upon themselves the risks that is associated to trading. There is a need for them to actually do lots of analyses in trading, of which they would not be able to do so without looking out there for someone or something that will make them have the pure understanding.
No one can make profits at every trade if they are doing trading too often,so we have to accept the losses and need to learn how to minimize the losses in future which can help us to increase our total profits which result in net profits.
despite being aware of that, some people still trade every day, don't even accept their defeat, and can't control their emotions. This is also something that should be considered for every trader.some people sometimes feel that they can reach their targets easily. however, due to uncontrolled emotions, they sometimes become hasty, thus placing high orders of the potential coins. controlling emotions can make us predict prices at the right price that the coin can reach shortly.
No one can make profits at every trade if they are doing trading too often,so we have to accept the losses and need to learn how to minimize the losses in future which can help us to increase our total profits which result in net profits.
despite being aware of that, some people still trade every day, don't even accept their defeat, and can't control their emotions. This is also something that should be considered for every trader.some people sometimes feel that they can reach their targets easily. however, due to uncontrolled emotions, they sometimes become hasty, thus placing high orders of the potential coins. controlling emotions can make us predict prices at the right price that the coin can reach shortly.
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