Common Errors of Trading - page 3. | Bitcointalksearch.org

Reid

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Quote from: oriontab on August 03, 2018, 01:49:24 PM

Here are some interesting facts about trading I stumbled across from CryptoCred which I think may be helpful
Common error to avoid when you day trade, I modified some to reflect my own opinion.

1. Revenge trading, trying to get back a trade that has been lost or chasing a trade.

Ergh.
This is one of my weaknesses. One of the mostly used by my brain and it is like a black out moment. Nothing else to think but just to get it back. The losses have been larger for me because of this and I though I could get it back by just a moment and yet nothing comes back, profit or ROI.

Do not let it get the best out of you. Control is a must.
Somehow this is the reason that is why I think trading is also a gamble.

spartanrules

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Quote from: oriontab on August 03, 2018, 01:49:24 PM

Here are some interesting facts about trading I stumbled across from CryptoCred which I think may be helpful
Common error to avoid when you day trade, I modified some to reflect my own opinion.

1. Revenge trading, trying to get back a trade that has been lost or chasing a trade.

2. Never using a Stop

3. Not having a plan (Risk/Entry/Exit/Stop)

4. Not sticking to your plan

5. Greed — risking too much/not taking profit

6. Being too emotional about a trade.

Plug these equity drains & increase your odds of being profitable.
You could add to the list and make better trades

Also to this list I would add:
1. Not to diversify investments;
2. Do not follow the principles of money management;
3. Open long positions on asset which already has grown up;
4. Buying cryptocurrency according to rumors.

leonix007

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Quote from: jackylion on September 07, 2018, 08:00:51 AM

The most common error in the transaction is that the fees and charges are getting higher and if we choose low fees then the transaction will be slow and delayed, so I see that electronic money is becoming more and more expensive. It is more complicated and more difficult to invest and cost

Buddy, you're on trading thread section

The OP referring to Errors on trading not on transfer fees

Crypto is getting lower and lower by now, chance of getting them if you want to

And its not complicated to invest with it

mkhadazz

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I think what you mention is true and this often happens with new traders and eventually makes them very lost because they are too easily panicked and afraid to fight the risks and are afraid to buy coins because of confusion.

puma25

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Trading against the trend is very dangerous and unjustified, I think the main problem of the trader is greed, it is always worth taking into account the risk management, it is much safer to withdraw from the transaction on risk and look for new entry points

voztata

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Quote from: oriontab on August 03, 2018, 01:49:24 PM

Here are some interesting facts about trading I stumbled across from CryptoCred which I think may be helpful
Common error to avoid when you day trade, I modified some to reflect my own opinion.

1. Revenge trading, trying to get back a trade that has been lost or chasing a trade.

2. Never using a Stop

3. Not having a plan (Risk/Entry/Exit/Stop)

4. Not sticking to your plan

5. Greed — risking too much/not taking profit

6. Being too emotional about a trade.

Plug these equity drains & increase your odds of being profitable.
You could add to the list and make better trades

I really like this post and it just states out the main problems that are being faced by most traders today, and I don’t mean just newbie traders, but including the old traders cause most of them still don’t know this. Some people here are trading without plans, and I have also noticed that some are always greedy based on the kind posts they post in the forum.

They are never satisfied with what they have got and are still looking for more. I know a guy in this forum that made a good amount of profit in this forum but decided to go all in with profit and including his main capital cause he thought he would make it big, forgetting that there are risks, he ended up losing everything and had to borrow money to start again.

charlotte04

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Quote from: oriontab on August 03, 2018, 01:49:24 PM

Here are some interesting facts about trading I stumbled across from CryptoCred which I think may be helpful
Common error to avoid when you day trade, I modified some to reflect my own opinion.

1. Revenge trading, trying to get back a trade that has been lost or chasing a trade.

2. Never using a Stop

3. Not having a plan (Risk/Entry/Exit/Stop)

4. Not sticking to your plan

5. Greed — risking too much/not taking profit

6. Being too emotional about a trade.

Plug these equity drains & increase your odds of being profitable.
You could add to the list and make better trades

All of this statement is correct. But I want to add my personal mistake in trading and that is by trading against the trend. I always lose because of that and I intend to change it.

PancherBitCoin

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Quote from: atjiat on September 07, 2018, 04:54:32 PM

Quote from: TelolettOm on September 07, 2018, 09:32:27 AM

Quote from: Kat_messy on September 06, 2018, 09:39:54 AM

I think it's great you have summarized them. Trading is not an easy job, but short summary of common errors helps a lot. Atleast this way you are more aware of them and are able to work with them better! Well Done!

all will be easy if we are used to and want to learn from our mistakes. people make mistakes that is natural because we are human, everything will be fine if you are patient and not careless in trading.

even if you do not make special mistakes, the current state of the crypto-currency market will not contribute to the good results of your activity.

I completely agree with you, because we can observe the next minimum of the bottom of the crypto-currency market. There are many forecasts that by the end of 2018 the market will begin to stabilize, but for some reason I do not really believe in it very much.

el kaka22

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Quote from: jems on September 04, 2018, 10:14:13 PM

Exactly, that's the main problem for traders.
I always have problems controlling my emotions so that everything becomes different in direction with the plans that I have made beforehand, especially when I have benefited but always feel lacking and desperate to take greater risks and lead to losses.

Emotion control is normal when you are starting first, but it should be something that would disappear eventually as long as you keep learning and practicing. The only reason why emotions will keep coming forever is if you are not learning and you keep repeating the same set of mistakes over and over again while expecting different results. It is not gamble, it is trading and you require great deal of knowledge to be able to do things right if you want to make the best of it.

Quote from: sleekie on September 07, 2018, 05:20:32 PM

I'm so guilty of number 4 and 6, not cashing out early has turned me to a much stronger holder

Holder of what ? Most people here do call themselves as long term holders still they are holding some random coins which must be having very less chances for getting bumped. Probably another common mistake Wink

.

sleekie

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I'm so guilty of number 4 and 6, not cashing out early has turned me to a much stronger holder

atjiat

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Quote from: TelolettOm on September 07, 2018, 09:32:27 AM

Quote from: Kat_messy on September 06, 2018, 09:39:54 AM

I think it's great you have summarized them. Trading is not an easy job, but short summary of common errors helps a lot. Atleast this way you are more aware of them and are able to work with them better! Well Done!

all will be easy if we are used to and want to learn from our mistakes. people make mistakes that is natural because we are human, everything will be fine if you are patient and not careless in trading.

even if you do not make special mistakes, the current state of the crypto-currency market will not contribute to the good results of your activity.

rickadone

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Quote from: umbara ardian on September 04, 2018, 11:25:46 PM

I think the mistake that often happens is that they are too easy to be affected by bad news so it is very difficult to get a profit. to be a good trader should be able to control the patience that you have to get profits,

Patience is not all you need for trading, but knowing what you are meant to do and what action you should be taking at certain points in time.

What some people do not necessarily understand is that trading is a profession on its own and the last time I checked, there is no profession that you would not require a long period of time to learn and probably get to find a mentor to put your through on certain things and thank God for this day and age of internet where you can easily find resources.

The problem I see however is that people are always too lazy to learn and that is where they usually get it all wrong. Normally, if you cannot learn, then, trading is definitely not for you.

TelolettOm

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Quote from: Kat_messy on September 06, 2018, 09:39:54 AM

I think it's great you have summarized them. Trading is not an easy job, but short summary of common errors helps a lot. Atleast this way you are more aware of them and are able to work with them better! Well Done!

all will be easy if we are used to and want to learn from our mistakes. people make mistakes that is natural because we are human, everything will be fine if you are patient and not careless in trading.

jackylion

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The most common error in the transaction is that the fees and charges are getting higher and if we choose low fees then the transaction will be slow and delayed, so I see that electronic money is becoming more and more expensive. It is more complicated and more difficult to invest and cost

Vangar

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Similar to this article, https://www.cryptocointrade.com/education/avoid-cryptocurrency-trading-mistakes/. Never gets old, these mistakes! They were the same in mainstream industries and still, people repeat them over and over. Greed and laziness, in my opinion, are the banes of many a trader!

usekevin

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Some new traders try to recover their loss in old trade by the new one.In that they will use buy bitcoin at the minor fluctuations and high price.Sometimes the price of bitcoin is take long time to recover,may be one-month.You should have a holding capacity at that time.You should avoid your emotions to get in to trade.If you avoid your emotions means,you will choose a panic selling.So this will prevent your future loss.

Kat_messy

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I think it's great you have summarized them. Trading is not an easy job, but short summary of common errors helps a lot. Atleast this way you are more aware of them and are able to work with them better! Well Done!

Ridwan Fauzi

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Those all true, when I do trading some of these factors always manipulate my healthy brain to get profit. Allowing prices to continue to rise but prices decline again, and the brain says always think when prices decline and I experience losses that I do not sell but expect prices to rise again. I'm not a reliable trader so I always make these mistakes, I need to read and learn about trading at least to stabilize my passions both when I get profit or experience continuous losses.

Viscore

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Quote from: umbara ardian on September 04, 2018, 11:25:46 PM

I think the mistake that often happens is that they are too easy to be affected by bad news so it is very difficult to get a profit. to be a good trader should be able to control the patience that you have to get profits,

Our emotions really affecting our trust and confidence on market trades. We need to control it so we can decide what is right and can move forward without any doubts in our mind. Its not only of being patient but it needs also to strategies our investment for more profits.

Drobek

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These are really good plans especially the number 4. I didn't stick to my trading plan yesterday and I paid dearly for it. Henceforth, will stick to my plan no matter what.

Topic: Common Errors of Trading - page 3. (Read 2289 times)