Bad Psychology of Traders - page 16.

Fatunad

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Quote from: zhekinsp on January 20, 2018, 01:02:41 PM

Quote from: erickkyut on January 18, 2018, 10:02:55 AM

Quote from: klaybbj on January 08, 2018, 03:23:34 AM

Why most of Traders have bad psychology of trading they keep lose more and more and can lost his account and they left quickly when operations is winning?

They usually buy during FOMO and then when there's dip, they tend to panic and sell their coins which results to their losses. The right strategy is buy on th FUD ans sell in the hype. It is the beasic, buy when the price is low and sell when the price is high. Noobs thinks that investing in crypto will make them rich in a day. That's not how it goes. You need to have a tons of patience.

The basic rule of trading buy low and sell high but many people doing that upside down like as you said.A skill ful trader will buy coins when there is price dump or crash which was happened two days before now every coin is bumping so he can make lot of money if he bought at that time.That's why the skill and decision making skill is very important in crypto currency trading.

Even it is just a simple concept on having a buying low selling high steps but this thing is really very hard to execute or when you are already on the middle of trading. Bad psychology of trader is most likely focusing on making profits or hurrying up on making decision and believing most of the time of their prediction or intuition without applying knowledge on each order been made. If you do have these kind of mindset then expect loses would really be experienced.

audrey12

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Activity: 210

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Its not actually a bad psychology traders rather should ve called short term investors that whenever they saw opportunity of earnings for they have bought or when the value drops so bad they sell them right away and didn't realize tomorrow could have been a much higher appreciation of their coins unless a trader would learn the ideal period of time to hold and trade they will keep regretting things like this

zhekinsp

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Quote from: erickkyut on January 18, 2018, 10:02:55 AM

Quote from: klaybbj on January 08, 2018, 03:23:34 AM

Why most of Traders have bad psychology of trading they keep lose more and more and can lost his account and they left quickly when operations is winning?

They usually buy during FOMO and then when there's dip, they tend to panic and sell their coins which results to their losses. The right strategy is buy on th FUD ans sell in the hype. It is the beasic, buy when the price is low and sell when the price is high. Noobs thinks that investing in crypto will make them rich in a day. That's not how it goes. You need to have a tons of patience.

The basic rule of trading buy low and sell high but many people doing that upside down like as you said.A skill ful trader will buy coins when there is price dump or crash which was happened two days before now every coin is bumping so he can make lot of money if he bought at that time.That's why the skill and decision making skill is very important in crypto currency trading.

namjar

sr. member

Activity: 361

Merit: 250

The problem is that most traders are not even following the market, they are just saying "yes, i will sell this + this one, it doesn't matter if i am in profit or not" they sell everything in order to buy another coin or just withdraw that money, but they forget that they are losing a bunch of money because of that.

coinadon

newbie

Activity: 98

Merit: 0

They usually buy during FOMO and then when there's dip, they tend to panic and sell their coins which results to their losses. The right strategy is buy on th FUD ans sell in the hype. It is the beasic, buy when the price is low and sell when the price is high. Noobs thinks that investing in crypto will make them rich in a day. That's not how it goes. You need to have a tons of patience.
[/quote]

I agree with you.
most beginners in trading will be looking for a quick fortune by buying a signal or follow ico without knowing everything in it.

but I think what we'll get in the future is something more important than today's gains but confused as to what to do next.

hopefully there is a discussion for this very serious psychological trading problem.

coinadon

newbie

Activity: 98

Merit: 0

I think this is a serious thing for a trader.
in fact the training of trader psychology is more important than technical analysts and fundamental analysis though.

when we are too overtrade will result in conditions that are not very good for a trader.
most traders are pursuing profit, but there is a better way that let our profits chase us.

I also suggest to learn funding management so we are not greedy when trading.
I am not an expert in this matter. I also request correction from the senior trading in this forum.

buwaytress

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Quote from: Emperor of Man on January 17, 2018, 12:43:07 PM

The worst psychological reactions traders make:

- Panic: Simply the worst reaction, and it happens when the markets dump (like these days! lol). Undecided

- Impatience: They buy coin X and they sell when it's in 10% profit, only to watch it go a lot higher! Cry

- Urgency: When they lose money they get angry and want to avenge the market and recover fast, only to find out it makes them lose more and probably go rekt! Huh

- Nonpersistence: Losses happen. When you fall down, just stand up and fight again, until you win. Undecided

I've made all of these mistakes. I hope you don't make a lot of them...

No one's going to disagree, but there's a reason that the very best traders (expressed not as the ones making the most money but the ones with the most predictable and consistent performance) are sometimes known to exhibit psychotic or socially deviant characteristics.

All the above can almost be eliminated by the most basic training any trader has to learn that focuses on discipline. To enter trades at pre-determined entry points (Entry), to allow trades to conclude on their own, also at predetermined exits (take profit and stop loss). If everyone learnt this lesson well and could practise it with rigid attention, psychology wouldn't have any data to study at all Wink

The exception is your last "reaction". All traders, by definition, are persistent. It is their persistence that keeps them as traders, is it not? Wink

alkhie01

full member

Activity: 378

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Sometimes its just a matter of control,if we really dont need the money we don't need to sell specially when it comes in red days,panicing is always the reason why most of the investors are selling their coin's thinking that that they will lose everything but never think that it will pump again.So better hold when the price drops and sell when you really get your target price.

Jaci

member

Activity: 219

Merit: 10

Today's focus is to critically examine what constitutes a 'good' or 'bad' trade – and the result may not be what you expected. This article will review what determines the 'success' of a trade and discuss key factors such as trading psychology, win versus loss size and the trading plan.

erickkyut

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Activity: 1176

Merit: 509

Quote from: klaybbj on January 08, 2018, 03:23:34 AM

Why most of Traders have bad psychology of trading they keep lose more and more and can lost his account and they left quickly when operations is winning?

They usually buy during FOMO and then when there's dip, they tend to panic and sell their coins which results to their losses. The right strategy is buy on th FUD ans sell in the hype. It is the beasic, buy when the price is low and sell when the price is high. Noobs thinks that investing in crypto will make them rich in a day. That's not how it goes. You need to have a tons of patience.

Borisb52

full member

Activity: 462

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When trading in the crypto currency market, the trader must observe the risk of management. But unfortunately many do not. So every trader should have his own psychology of trade. This needs to be learned and not all of this is obtained. Therefore, many lose their money in this market.

crisanto01

sr. member

Activity: 644

Merit: 253

Quote from: shahinurit on January 18, 2018, 07:47:12 AM

By keeping emotions under control, we can be more successful at trading. The right attitude to ... By the term psychology we refer to the state of mind a trader should have while trading. .... If we generate bad thoughts, they will affect the overall thinking process – but if we input positive thoughts, the output will also be good Grin

It really helps a lot to do trading at the right emotion, we must remember always that we are doing our own path here in bitcoin, and we are the one who explores, so it really up to us if we want to change our status in life. Just do take risk and eventually success will follow.

ADVME1

newbie

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The one who is scared for his own money and don't make it with risk management

shahinurit

member

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By keeping emotions under control, we can be more successful at trading. The right attitude to ... By the term psychology we refer to the state of mind a trader should have while trading. .... If we generate bad thoughts, they will affect the overall thinking process – but if we input positive thoughts, the output will also be good Grin

naidray

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Quote from: ?? on ??

Perhaps it is because the loss can lead to people's mentality, the loss of the people because the loss of money will blind investment, will lose the cool thinking and judgment! If you don't control your attitude, you may continue to lose money, and some of you will lose your cool judgment because you get carried away.

Trading is a very difficult profession. It is risky and demands a calm nature which is not very common.
A continuous failure can also frustrate the trader. It makes sense. This way a person might end up losing faith in himself, his fate or especially the profession. We are humans and it is impossible to not get affected by the changing situations but we should train our brain in such a way that it remains calm regardless of the situation.

Emperor of Man

hero member

Activity: 886

Merit: 510

The worst psychological reactions traders make:

- Panic: Simply the worst reaction, and it happens when the markets dump (like these days! lol). Undecided

- Impatience: They buy coin X and they sell when it's in 10% profit, only to watch it go a lot higher! Cry

- Urgency: When they lose money they get angry and want to avenge the market and recover fast, only to find out it makes them lose more and probably go rekt! Huh

- Nonpersistence: Losses happen. When you fall down, just stand up and fight again, until you win. Undecided

I've made all of these mistakes. I hope you don't make a lot of them...

sugihe

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Activity: 196

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Quote from: klaybbj on January 08, 2018, 03:23:34 AM

Why most of Traders have bad psychology of trading they keep lose more and more and can lost his account and they left quickly when operations is winning?

In cryptocurrency trading we can not know which one is more between selling quick in loss and holding long in profit or holding long in loss and selling quick in a bit profit. My style is holding long when loss and profit.

Bonakid

full member

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Most of the traders cannot control their emotions when loosing all their profit and income when its dump price.Some of them when they experienced loosing of money they stop and never get back on trading,remember that more in experienced makes us expert in trading when we have more learnings on our mistakes .

rhodelmabanal

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Yes it is true, traders are no left overs they are much prompt on their accounts and it gets more attention to them. I notice some of the people are bad characteristics, I can't even tell my self why, but see to it that they are prestigious in some trouble solving price but ends in bad outcome. But they quickly outrun it. It must have been a bad dream but quickly move on the second problems. The traders are has also emotions into a bad visions they simply took some other problems that make them also in mind, they thought that those problems might be in their areas soon to be.

di.ako.toh

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Mental characteristics of traders are commonly fear of losing. Some of the habits of traders are once they got loss, they tend to stop and never try again. But in reality, as a traders we should have the guts to get loss and win. Because, as we go in trying these are the time that we learned and develop as a young trader for a more profitable and successful journey in crypto world.

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