Topic: Common mistakes by unskilled traders - page 3. (Read 848 times)

Trading is not like an investment that you will leave for a long time, you need to get a plan and knowledge before putting your self into it, that is what some newbies did not understand they just want fast money and before you succeed in anything the first thing to do is to understand how the system and asking the professional how they do their trading to succeed because learning from others will help you perfect in trading, They did not relax since they saw people making money on it, despite the fact that all successful traders took the time to learn.

Many people who lose in trading have learned their mistakes, and I will advise newbies to start with small funds because putting money you can't afford to lose will bring you serious problems because trading brings huge profit and loss, and you can never predict when you'll be winning because even professionals lose in trading. Newbies should learn very well and ask questions with professionals because he will help them for too much failure.

Correcting the mistakes we have made in trading will enable us to take the right decisions when trading and we can learn from the mistakes we have made, those who cannot learn from the mistakes they have made will cause them to experience a lot of losses, so it will be more It's good to look for friends who have experience in the field of trading to ask them to teach them how to trade to reduce their risk of failure.

Trying what has been learned is natural, but we have to set limits in trying it so that when we experience a loss we are still able to fix it and find a solution to solve the problem and use the problem as a lesson so as not to repeat it again in the future. You are right, by studying it consistently it will certainly enable us to develop in the field of trading that we do.

However, if a trader has a great willingness to learn, of course the mistakes he experiences will grow his knowledge and skills. Maybe it would be different if a trader didn't get personal development from what he had done. If it continues like that then what happens will not be much different from consecutive losses.

for those who are serious about learning, they will do a lot of studying rather than trying at the beginning. so they minimize the risk of loss. Don't just keep trying trades even if you lose money, that will just be a waste of money. but how do they study shortcomings and try to find the best solutions that can be used to gain profits.
everyone learns, and anyone who doesn't give up on learning the trade, will definitely thrive.

but experience could be obtained by other means like reading other experiences, its not always needed to have first hand experience to be able to contain any problems.
because after all thats gonna be expensive experience to learn and not everyone could afford that.
its also why its better if we could just learn from other mistake, to keep our capital from decreasing, and also to be able to have higher chance of proffiting.
there's reason why many veteran trader recommend to skim through some books first because its essential in increasing our experiences.

Have made some and have loss some, got addicted to trading so deep that i cant for one day imagine am gonna quit. its a tough one like you said never easy and on the journey we still keep learning. actually like this word DISCIPLINE you used there

Mistakes are learning but on the sense that you are already that making too much mistake then this is something that wont really be that wise anymore. You should really mindful whether you should really be lessening up the risk on acquiring more mistakes because even though it would really called as a learning but still wont really be that wise on tolerating it or making yourself that stagnant on not to make any actions and keeps on repeating on the same mistake all over again and again on which it isnt really that wise anymore on something like this.  Mistakes are indeed that inevitable even on how professional you are or how veteral or old you are into such industry but there's no way that you could really be able to avoid it. The important thing on here is that you do know on what you should gonna do on the time that you would really be able to experience it out and do have those back up plans that had already been set.

Just go with the flow and act accordingly and make out adjustments on which are really that supposed to be done on whatever things you would really be needing to deal with.
Adjustments and really that having that good reactions and versatility would really be able to help you out.

Mistake is a prove that one is learning and there is no way we can prevent that especially as a trader. Beginner traders would always make mistake for a better understanding about the market. Many pro traders we see now with accurate results never started trading as a genius, they like the process and because of consistency, they were able to persevere and undergo the proper training that brought them to the level they are today. If we out all our efforts on something and we are ready to learn such thing with all curiosity, we are going to get to such level if there is no external force acting on the person as a resistance.

I would say that you shouldn't be considering yourself so short, you should be able to do it if you are giving it enough time and I bet that we are all capable of it. The only thing that is required for something like this would be spending some time learning and then giving it some time to reach there. I personally do not believe that we are going to end up with some trouble and shouldn't be an issue.

I think the best thing to do in this regard would be making sure that we are going to end up with a return that would be smarter to handle. I get that life is not that easy and giving it some time means that you are going to work a lot for many years, maybe even decades and not a lot of people want to do it, but just because we can't wait for it and work that hard for it, doesn't mean that we can't do it. Those are different things, I bet that you can do it, you have nothing short of what others who have done it has. You should be able to do it as well.

In my opinion, the mistake of most investing and trading anywhere is because of fomo. Dare to go all in with all asset transfers to one of the assets that he "considers" as a get rich quick vehicle. Even though there are many steps that must be taken, one of which is investing or trading responsibly. I mean you have to really understand what you want to invest in.

But people are lazy to do that, then choose to trade and invest. What's worse is not using diversification, not understanding the risk profile, not understanding what assets to invest in, and never turning mistakes into experience.

Mistakes are very essential in learning,  this is the only to get understanding of things very fast. But in trading I don't think it is proper for beginners to learn everything they needs to know through Mistakes. Beginners needs to put effort in learning to minimize mistakes they will come across in trading.  Too much mistakes causes lose of money in trading,  if their are much learning habits it will reduce the rate at which beginners lose in trading.

In trading no doubt we need experience to make things easy as we proceed in trading but we should not have a mindset that every understanding must come as a result of mistake.

Yes just by seeing that other people who have traded they think that that person will be able to be better in the next trade, but I don't think it will always be like that, because they only "have" traded not someone who is actively always doing that. So maybe they shouldn't make too many assumptions without knowing what the real difficulties are in this trading world and of course maybe the other person they think is better is actually far below them, meaning they are much worse at trading than you, it could be. True, not everyone is a good learner and of course there are some who struggle with learning, it depends on themselves, but for those who are lazy learners I don't think I would blame anyone else but themselves. Of course, this happens for several reasons, as you mentioned, it is not uncommon for those who are in a hurry to enter real trading but are still very low in terms of knowledge, they are too focused on profits but do not pay attention at all to preparing to minimize losses, and yes, in the end, instead of profits obtained but losses even more dominate.

Basically trading is very risky because the nature of the market is very volatile and anyone will not be able to predict with 100% accuracy, even those who are experienced still have difficulty. Losses will always be there, and I am sure you will not want to continue to experience losses, well so the only way to reduce the amount of loss is to learn a lot about something that can make you lose and avoid it. So you will be able to get profits consistently but with a lower level of loss because you always learn to be better.

People often think that someone who has already been trading will be able to make better trades than them, and they think this way without even trying themselves and learning much about trading or the market. Some are lazy and some are simply in a hurry to earn money so they skip the learning part and think that they should start earning profits immediately after entering the market which is a wrong mindset to have since things can go very wrong sometimes.

It is much better for a person who wants to venture into cryptocurrency trading to learn the essentials about trading and the cryptocurrency market and practice using demo accounts to check their skills and then start trading themselves, with a small amount initially so that they don't lose a lot of money in case they make a mistake. After some time, they will be able to trade effectively.

Trading is just like investment,  and profits from both you have to sacrifice time and money into building long-term experience and skills that keep you an edge above other counterparts,  it's indeed a great pleasure to start trading as a newbie but then it much more important to know how exactly to trade and what mechanisms to apply,  this is most very important points to note and in doing so,  it will help the newbies a lot to build the needed patience that will guide him through all the thick and tide of the market.

This is not limited to traders alone,  even investors also are encouraged to spend some time in building their skills in the direction that will help them to properly stimulate and comprehend the entire process that will build in them the experience needed to withstand every form of opposition in the market.

I agree with your points of view. Mistakes improve a man's knowledge and experience. It is important to learn from your mistake and if you make the same mistake simultaneously then you are not concentrating. Every time a trader makes a mistake a short note about it should be taken so that he can improve his strategy by finding out the reason behind that bad trade.

Everyone starts on being a noob and it is really that understandable that on this time we are really that prone to lots of mistakes which is normal and come to think that even to those professionals or veterans are ones newbies too but on the time that they had gained out sufficient knowledge and experience then this is the time that they do really been able to handle out themselves on becoming better basing up on the things that they had encountered on which this is really just that a normal phase. The wrong thing on here is that on the time that you do experience losses and mistakes but you do keep on repeating on the same mistakes then there's something wrong about you because its impossible that you wont really be making out any adjustments on the time you do already encounter such things.

Skills isnt something that you could really be able to gain overnight and this would really be involving tons of time and effort before you could really be able to acquired such thing and always bare in mind that
never ever make yourself that put up in a rush because this is where errors and mistakes do usually happen or occur.This is why take it slow and really that mindful about on the actions
that you are making or doing and not really just hurriedly making decisions which arent that supposed to be done or making yourself that desperate which is a no go.

Seeing newbies having traits that are not appropriate for trading? Of course, they are newbies.

If these newbies were able to earn a good amount on their early traders, expect them to have a mindset that trading is easy, bearable, not that difficult to learn, not that challenging, easy money, quick profits, and their mind will only fill with positive thoughts even it's unrealistic.

As they lose, especially on a losing streak, if these traders are really eager to continue their trading career, they will now understand that something is wrong and their approach will now be changed into something much more disciplined and very well-planned. Unfortunately, there are people who after a series of losses in trades, will decide to quit and give up.

Experience always starts at losing that's why it's better for me to see newbies having a tough run while they progress.

There are many traders who don't want to listen to anyone's advice  but after a long period of time when they lose in trading, gradually they understand what is the problem. But what is lost that will never regain. A trader must know some basics to start trading. Some traders think that there is money, just bought and made a profit, trading is done, that is not the case. To become a trader, a trader must acquire knowledge on various subjects. There are some common mistakes, one of which is to take trades without doing your own research or expertise. But the biggest mistake that a trader often makes is that they consider trading is very simple task.

Of course, experience in any trade matters a great deal. But it is also important to be able to concentrate, to distribute your forces correctly, and to act quickly, as trading situations change very quickly. That is why you need a good and reliable internet connection - preferably several options

There are a lot of people who get frustrated a little bit I want to say something when you trade crypto you must trade with time.  As the op said when newbies trade crypto they are in a hurry and get frustrated in a very short period of time if nothing happens in a week or a year they get frustrated and lose money. But don't be disappointed like that when you trade in crypto you must know about it well then you have to trade. Otherwise you are more likely to lose if you trade crypto.

By continuing to practice what we learn in trading, we will become more accustomed to analyzing trades. That will increase our ability to analyze so we can gain profits from trading later.

However, this is not the case for traders who do not yet have the ability to trade. They tend to wait for signals from other traders. They think it will shorten their time for analysis even though that is not the intention because by training their analytical skills through trading, they will have better abilities.

And it will be useful for them in the future. Consider what they are doing now to train their analytical skills to be even better in the future.