5 mistakes every crypto trader should avoid - page 5.

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Quote from: Triffin on November 11, 2019, 12:51:20 PM

Greed is the cursed human emotion that will never help you in taking any right decision because it overpowers all other senses. What I believe is that greed within limits does not make any bad impact but when it totally overcomes your all other emotions, the major problem occurs then. To avoid all this mess, the best solution is to set your goals regarding profits and cash them out with little differences.

Unfortunately, greed is stinger than the majority of us all and even many of us that are advising always fall victim of the greed more and even if we set our goal, we still end up compromising and allowing greed to take over our emotion.

Just today, amidst all these advise against greed, someone was asking how he can make $50k trading with a very short period of time, I think the person mentioned 1 or 2 month and I wonder how the person intend to start little. With this type of goal set, it would be impossible for greed not to come in which will eventually make such person loose whatever money he or she has because they will not set their goal right to take advantage of using the tools that are available on trading platforms to control our greed.

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Quote from: Hypnosis00 on November 11, 2019, 05:32:01 PM

Quote from: Triffin on November 11, 2019, 12:51:20 PM

Quote from: jazmuzika217 on November 08, 2019, 11:40:26 PM

Yes you are right. I agree on all of you knowledge sgare but I think you forget the most important thing that every traders will not to do that is too much greed. All we know that when we think as a greedy we cannot think well so we will have a wrong move or decison that will affect our investment or worst it will the reason of your loss.

Greed is the cursed human emotion that will never help you in taking any right decision because it overpowers all other senses. What I believe is that greed within limits does not make any bad impact but when it totally overcomes your all other emotions, the major problem occurs then. To avoid all this mess, the best solution is to set your goals regarding profits and cash them out with little differences.

It sometimes will be considered as a curse if we never control it. It is to know that everyone has this kind of attitude, yet some of us never been dictated by their greediness and just put into at ease. This is what we should have to do otherwise it compromise our self in the future.

Greed has become one of the trader's ultimate enemy and great attitude depends on a certain circumstance in terms of decision making. There was probable future gain or less loss on your part but greed already taken the mind of you to decide. Nevertheless, it is still on trader's strat how to deal with the market situation, it's a win or lose game anyways.

Quote from: Hypnosis00 on November 11, 2019, 05:32:01 PM

The most common failure/mistakes of traders is not about greediness but because of their emotions which it absolutely affects their decision leading to a miserable trading life.

This is what I always think of, the emotion that should be put aside when trading giving the most of your critical thinking on playing with trading. Not just emotion but all the factors to affect your trading style and decision making should be put aside.

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Quote from: Shimmiry on November 11, 2019, 10:51:39 AM

Quote from: MURONDI on November 07, 2019, 05:42:31 AM

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.

When you are entering trading, you must be aware of the risk you will take because, more often, you cannot win all those trades. You can lose your coins, but at the same time, you will earn it back. Sometimes when it comes to too much greed, we are risking more because we want to make more, but that was not good at all it is better to think your decisions first, it can be the cause of your failure and to lose your assets.

Not possible to swim if you don’t know swimming so the same way if you want to earn money in trading you will have to put effort. If you once lose you will have to put double effort and overcome the lose but as you said we should not try to get all profit at once. Better keep learning from your mistakes but take break then you will trade later.

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Quote from: Triffin on November 11, 2019, 12:51:20 PM

Quote from: jazmuzika217 on November 08, 2019, 11:40:26 PM

Yes you are right. I agree on all of you knowledge sgare but I think you forget the most important thing that every traders will not to do that is too much greed. All we know that when we think as a greedy we cannot think well so we will have a wrong move or decison that will affect our investment or worst it will the reason of your loss.

Greed is the cursed human emotion that will never help you in taking any right decision because it overpowers all other senses. What I believe is that greed within limits does not make any bad impact but when it totally overcomes your all other emotions, the major problem occurs then. To avoid all this mess, the best solution is to set your goals regarding profits and cash them out with little differences.

It sometimes will be considered as a curse if we never control it. It is to know that everyone has this kind of attitude, yet some of us never been dictated by their greediness and just put into at ease. This is what we should have to do otherwise it compromise our self in the future.

The most common failure/mistakes of traders is not about greediness but because of their emotions which it absolutely affects their decision leading to a miserable trading life.

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Quote from: jazmuzika217 on November 08, 2019, 11:40:26 PM

Yes you are right. I agree on all of you knowledge sgare but I think you forget the most important thing that every traders will not to do that is too much greed. All we know that when we think as a greedy we cannot think well so we will have a wrong move or decison that will affect our investment or worst it will the reason of your loss.

Greed is the cursed human emotion that will never help you in taking any right decision because it overpowers all other senses. What I believe is that greed within limits does not make any bad impact but when it totally overcomes your all other emotions, the major problem occurs then. To avoid all this mess, the best solution is to set your goals regarding profits and cash them out with little differences.

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Quote from: MURONDI on November 07, 2019, 05:42:31 AM

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.

When you are entering trading, you must be aware of the risk you will take because, more often, you cannot win all those trades. You can lose your coins, but at the same time, you will earn it back. Sometimes when it comes to too much greed, we are risking more because we want to make more, but that was not good at all it is better to think your decisions first, it can be the cause of your failure and to lose your assets.

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Quote from: BigBos on November 11, 2019, 12:48:17 AM

FOMO is a part that I really pay attention to those 5 mistakes. however, seeing so many FUDs makes us want to sell our assets immediately. because of this, so many of us sell assets, not at the right time. even when we are very patient and confident with the strategies we have thinking, FOMO will always be a difficult challenge to stop. I might have another way to avoid FOMO, which is to try to focus elsewhere so that I can forget about my assets even if only briefly Undecided

FOMO not only include panic selling but panic buying too. I would say latter one is more serious than the former. It's panic buying that creates bubble in the market. Earlier I used to wonder why Bitcoin prices corrected like 10-15% every time after any bull run. Later I came to know that Bitcoin traders easily get triggered whenever prices increase a bit and then they pump it more than what market volume can handle. As a result, prices fall immediately after increase and most of the buyers make losses.

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FOMO is a part that I really pay attention to those 5 mistakes. however, seeing so many FUDs makes us want to sell our assets immediately. because of this, so many of us sell assets, not at the right time. even when we are very patient and confident with the strategies we have thinking, FOMO will always be a difficult challenge to stop. I might have another way to avoid FOMO, which is to try to focus elsewhere so that I can forget about my assets even if only briefly Undecided

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Quote from: Pamadar on November 09, 2019, 01:23:40 AM

Quote from: Distinctin on November 09, 2019, 01:09:37 AM

Quote from: jazmuzika217 on November 08, 2019, 11:40:26 PM

Yes you are right. I agree on all of you knowledge sgare but I think you forget the most important thing that every traders will not to do that is too much greed. All we know that when we think as a greedy we cannot think well so we will have a wrong move or decison that will affect our investment or worst it will the reason of your loss.

Greed is not a problem but too much greed might lead into troubles. As I've always said, greed is a part of our life, it helps us to encourage, working hard in order to achieve what we've plan for. Only be bad when we use illegalities or whatever it is to succeed.
Keeping our self away from too much greed we should have to know what is satisfaction.

That type of greed is beneficial since you are willing to aim for more success and to find good ways to benefits from the current situations, if you are aware and you can keep this kind of greediness and not to exceed to the point that you already missing lots of good opportunities. Even you have
greed inside you but practicing to develop the right attitude and the right emotions to use will advance you to more successful trades.

It should be like that and we also have to know the consequences of our doings. Greediness is not bad at all if we put it in the right place and do it in the right things. But somehow people never think about instead they were badly taking advantage of their power which many of us appreciate greed is not good. It may be we could just put bad claims about greediness if that is too much, not even helping us anymore but instead, it worsens the problem at all.

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Quote from: acdc on November 09, 2019, 08:01:47 AM

FOMO is an error that most newcomers will experience, people are very susceptible to emotional domination when trading on the cryptocurrency market. Even experienced traders sometimes get FOMO.
We need to control our emotions, be patient while trading cryptocurrencies.

There’s a big hype in this market and FOMO can actually make profit to you if you know how to use it but of course overall it is not good. Trading is a big responsibility, we make mistakes and we should learn from that. Avoid over trading because it can still lose your money with the fees and if the coins you are trading is not performing well. Diversification is not that good it trading, and I agree on most the mistakes listed above, we should be more knowledgeable about trading.

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Quote from: Genemind on November 09, 2019, 04:57:23 AM

Quote from: palle11 on November 07, 2019, 05:22:38 AM

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 definitely true, we will lose more if we can't handle our emotions. Cryptocurrency is volatile so there will really be lots of market changes. Our fear of missing out and impatience could only lead us to wrong decisions and future losses. That's the reason why learning should be put first so we'll know how to deal with every market situation.

For sure we lose because of our own mistakes if we will not make such foolish mistakes of listening other and panic we will not lose any of our coins. Crypto market is volatile so the price of coins fluctuates but a trader must know how to handle himself and don’t take stress about this volatility just hold and trade for the long term it will help you avoid losing.

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Pretty damn right. But there are still a lot of mistakes we often forget to avoid, overdoing something specially when we get somehow lose on a straight. Though we been noticing it late when we got tight money after that. Well, for me the key is discipline always. Discipline at everything, it will only be applicable if you are aware on what you are currently doing so that you'll be avoid or prevent potential loss or mistakes.

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FOMO is an error that most newcomers will experience, people are very susceptible to emotional domination when trading on the cryptocurrency market. Even experienced traders sometimes get FOMO.
We need to control our emotions, be patient while trading cryptocurrencies.

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Quote from: palle11 on November 07, 2019, 05:22:38 AM

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 definitely true, we will lose more if we can't handle our emotions. Cryptocurrency is volatile so there will really be lots of market changes. Our fear of missing out and impatience could only lead us to wrong decisions and future losses. That's the reason why learning should be put first so we'll know how to deal with every market situation.

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Quote from: Distinctin on November 09, 2019, 01:09:37 AM

Quote from: jazmuzika217 on November 08, 2019, 11:40:26 PM

Yes you are right. I agree on all of you knowledge sgare but I think you forget the most important thing that every traders will not to do that is too much greed. All we know that when we think as a greedy we cannot think well so we will have a wrong move or decison that will affect our investment or worst it will the reason of your loss.

Greed is not a problem but too much greed might lead into troubles. As I've always said, greed is a part of our life, it helps us to encourage, working hard in order to achieve what we've plan for. Only be bad when we use illegalities or whatever it is to succeed.
Keeping our self away from too much greed we should have to know what is satisfaction.

That type of greed is beneficial since you are willing to aim for more success and to find good ways to benefits from the current situations, if you are aware and you can keep this kind of greediness and not to exceed to the point that you already missing lots of good opportunities. Even you have
greed inside you but practicing to develop the right attitude and the right emotions to use will advance you to more successful trades.

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Quote from: jazmuzika217 on November 08, 2019, 11:40:26 PM

Yes you are right. I agree on all of you knowledge sgare but I think you forget the most important thing that every traders will not to do that is too much greed. All we know that when we think as a greedy we cannot think well so we will have a wrong move or decison that will affect our investment or worst it will the reason of your loss.

Greed is not a problem but too much greed might lead into troubles. As I've always said, greed is a part of our life, it helps us to encourage, working hard in order to achieve what we've plan for. Only be bad when we use illegalities or whatever it is to succeed.
Keeping our self away from too much greed we should have to know what is satisfaction.

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Yes you are right. I agree on all of you knowledge sgare but I think you forget the most important thing that every traders will not to do that is too much greed. All we know that when we think as a greedy we cannot think well so we will have a wrong move or decison that will affect our investment or worst it will the reason of your loss.

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On of the biggest mistakes traders should not do is trading and making decisions durring trade with emotions. Going into any crypto trade can lead to heavy loss. There is no need for any trader to be emotionally attached to any coin, always remember to take profit at intervals , do not for the emotional love of the project hold any coin that you ought to have sold at the sight of profit it has yielded. Lay aside emotions durring trade and you will be able to Maximize your profit

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Some traders do trades with random coins because of its highly volatility in the recent days and this strategy also highly recommended among intra day traders since they can make more profits from these kind of coins but we also need to have some knowledge about that coin before buying it,see the trading volume for recent days then look who is holding most of that token,if it is not diversified then we have to avoid trading since its just bump and dump coin.

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Quote from: aysg76 on November 08, 2019, 08:03:20 AM

The points you have mentioned are quite good but i would like to add some more to it like never trade in coins which you dont know or in other words say don't trade without knowledge and skill in this highly volatile market. As said never invest more than you afford to loose and try to be your own avoid copying other style in trading.And above all control your emotions if you want to earn profits in cryptocurrencies.

It's just the same as never invest into something that you don't know. Before we engage in investment make sure we know what we are dealing with because your own money depends on it. And once you fail there's no turning back because the only way is to move forward. Learn from the other mistakes and move on.

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