Topic: Common Mistakes people make in Trading - page 2. (Read 1116 times)

It's easy not to get lazy in educating yourself about trading but it seems not everyone is motivated enough to learn more simply because of greed and the desire of wanting get-rich-quick profits when we all know it won't be possible in trading. Trading is all about patience, so if you can't be patient in learning and chose to be lazy all the time, then there's no way you'll be profitable in trading.

In other words, don't rush yourself in acquiring knowledge in trading. It is not an overnight task to know it all in trading. Sometimes it would take years before you get the full grasp of what's going on in trading. As you explore different alts, you will also need to learn each of them to understand their market trend.

I think it is difficult, if trading is easy then there should be no story where someone fails and has to lose a lot of money because of trading. Maybe it is more appropriate to say that something is difficult but if we continue to process and learn then over time we will find something or a way that can make it easier for us to take advantage of trading.
But I agree with you about laziness, I think everyone will have that kind of laziness, but what makes the difference is when we can fight it. Basically if we don't force ourselves we will feel lazy, but what I experienced was when we were able to fight that laziness by forcing ourselves, then one day it will become a habit and the laziness will automatically decrease.

Everything we do well and seriously is certainly not complicated, including trading. Trading is actually quite complicated and even has a very high risk, but if you continue to learn and explore everything, trading is not complicated. The most important thing besides continuing to learn is to make failure or every time you trade an experience that must be continuously renewed because experience is the best teacher, frankly until now I have never tired of learning trading to become better because trading cannot be underestimated, if you don't want to experience a lot of losses.

In addition, what is needed when trading is to avoid emotions. Logic and emotion in trading are very much needed because both of these things can interfere with good decisions in trading. So to overcome this, we can practice with risk management techniques, such as determining when we should enter the market and when we should exit the market. It must be admitted that most traders make mistakes because they do not have good emotional control.

Why majority are losing in trading is because they are too greedy. You're right that many of them wants to get rich so quick in trading and they are testing strategies that doesn't go along with what suits them. And they think that trading is an easy financial game but their expectations are broken when they have face the real thing in the market. This is why do not expect that you'd always be good in everything that you're testing out. The good traders out there really make money but it doesn't mean that they have no mistakes that they commit.

What we can guarantee is that there is no 100% accuracy for trading. Losses are there even the best of the best gets some filthy moments and trades that are losing them. The mistake is by becoming too confident whenever someone is able to make a trade or two but this market relies on so many things and not just all about the charts. Sometimes it becomes connected to the world events, the actual market motion and more fundamentals. An ugly news can make someone happily trade with their positions and that's why from the mistakes that we commit, we should learn from it or better not trade at all when you can't go along with the tough market.

In trading, it is not that difficult, especially since we can continue to learn over time and it is undeniable that laziness or underestimating something causes many traders to skip this stage.
Doing research first or having more knowledge about something before deciding to trade is quite important and I think it can minimize the risk.
And indeed, it is a common mistake that often occurs, but for me personally, the common mistake that often happens to me is greed that is difficult to control to get bigger profits, I think that's what always makes emotions not good for a trade that is being done.

All jobs do require understanding and experience in order to be able to do it smoothly without any obstacles and of course this can be obtained through research and learning from people who already know it now. I think nothing is that difficult as long as we have more time to learn and also to do our own research after learning from several sectors for trading, so use your time wisely and don't need to make decisions in a hurry because it will also not be good enough for beginner traders.

All of us would be inevitably be able to experience this one, specially on the  time or moment that we would really be that we are still newbies on which there would really be those emotions or feelings on which
its normal since we dont still have the experience and that awareness on how this market works. On the moment that you do gain up experience then this is the moment that you would really be progressive on which you would really be that making yourself to be more better as you do go ahead. It wouldnt really be t hat much of a concern if you do see yourself having that progress on which this is a must because dealing up with
trading but continously losing or having no progress or improvement then it do really shows that there's something wrong with your trading and this is something that needs to be changed up.

The common mistakes on which people are really that making is that they do really that become careless on which they do really forgot out when it comes to risks management on which we know that this is something important on the time that you would really be doing trading. Mistakes are normal the good thing on here is that you should really be learning from those mistakes to make yourself that better. There are really
people who do easily quit or stop on the moment that they would be losing money which it isnt really just that right. You should really be that accepting those and learn from it if you are really planning
to become a better trader.

They do this before and after they start trading and this result in their losses, if they had research before they started trading, they would had been informed and not make the mistakes that they do that causes their losses. After they start trading too, they do not continue to research but assume that they are now experts and know what they are doing but in reality, they do not know anything only depending on guessing and hoping that they get lucky to have a successful trade. Traders that know what they are doing do not need to depend on luck as they can predict the market with accuracy and make profits, majority of the time. Traders are losing interest in researching and only depending on signal from others without verifying if the signals are correct ones or not, they just use it like that.

This happens due to deviations in patience ​​that tempt a trader and eventually he loses financially. According to me a trader should not show excessive volatility to get profit and should be inclined to buy first so that he can diversify his portfolio later. The need for diversification in your investment is very important to get profit as long term and short term plans can be chosen simultaneously. When the size of holdings in your portfolio is large, your potential for profit increases and risk decreases.

The market of cryptocurrency is always volatile with high risk and high profit potential so you should have long term holding along with short term trading to arrange your plan. Buying trend should hold at each price level.

We should know that trading is not a place for impatients. Successful traders believe there is a perfect time to sell and buy, that is why they wait, but most traders, especially newbies, never find it. This common problem that most traders face greatly impacts their trading career. That is why if they want to see success in this field, then it is necessary for them to change their trading approaches seriously and seek enough good ideas. It is hard to accept the truth, but trading is not an easy job that a trader should not underestimate.

Many traders had failed already; I think we used that as a tool to urge ourselves to learn more rather than following their footsteps and wrongdoings. 

The problem is, not all traders are patient enough to wait for the right set-up to trade as majority of newbies in trading are greedy and would want to earn get-rich-quick profits. That's probably the reason why majority at loss while only those early traders have been succeeding and are making sustainable profits when trading. Trading is not chasing profits at all cost, but it's certainly trading when there is a good opportunity to.

LACK OF RESEARCH AND UNDERSTANDING: lack of research and understanding is the common mistake a lot of traders make due to willingness, eagerness, and impatient, they will involved themselves in trading without investigating and having proper knowledge, education and understanding on trading, and with having knowledge on the basics concepts of trading it helps to have a lots of experience on it and it will also serve as a guidance to the trader on how they are going to manage their marketing.

I've seen this happen to people who set to themselves impractical goals, like "i need to earn X money this month by trading", and then they manically try to find the right chart. When enough crappy, unclear charts have been browsed, suddenly some of them start to seem better to deal with. To me it's like trying to win poker by entering with every given pair to the game. And then there will be weeks that will be worth whole rest of the year of trading, This is what i understand of patience in trading; Waiting for the right moment to enter and exit.

That is common thing that many traders do, not just new traders but also veteran traders. They don't thinks that they can really miss opportunity in the market especially if they can't analyze the market position. Chasing the trade can cause us getting lose money because we are in rush without making analysis because we don't want to late to take the opportunity to buy the coin.

We don't have to be like that because we must realizes that we still have the opportunity to enter to the market in the other time. So we must use that to analyze the market movement and find the right time to enter the market. We don't have attract to the market because of panic because that can makes us can't thinks clear. We must have to be patience to check the market before we decides.

When it comes to cryptocurrency trading, there are many new traders who cannot control their greed. When they come to know about the price of Bitcoin and some other altcoins, they jump without any knowledge. There are many investors who have not even mastered the basics of investing but are desperate to trade. The first thing that is required to become a trader is trading knowledge. This trading knowledge consists of a combination of many things that a trader needs to acquire. Traders who joined trading without any knowledge lost their money due to wrong trading and some due to safety reasons or emotional and some lost their money due to greed. There is no guarantee that a trader will make profit if he is inexperienced but the possibility of loss is high for those who start trading without experience.

Emotional management is something that is very important for every trader to be able to control their emotions when trading because it will make it difficult for them to get good results from the trade, so it would be very good for those who want to get good results on the trades they make to be able to train themselves to remain patient when seeing market conditions that are not favorable for them.

Taking the time to learn more about trading before deciding to trade is of course very good, but they also have to be patient with every learning process they do because it is very unlikely that someone will be able to make a profit without good knowledge about trading and for some people who ignore this, of course they are very unlikely to be able to make a profit from trading and what they will definitely get is only a loss if they do not go through the learning process first.

Actually all items in the list are part of risk management, so all of them are important, however when it comes to stop-loss I think there are traders that can sometimes trade without it. I think this is because they are not in a hurry and are willing to wait for the price to recover. It's like they are a hybrid trader and investor. I think that a short capital can be able to last long in the good hands but it is still different if we will start with a big one. By this, we can be able to increase the size of our trades and this can allow us to earn a bigger profit, though the risk will now be a bit bigger too, if we experience a loss. By having a big capital, we can also be able to last longer than usual if we will minimize our trading sizes.

Over-trading that's a serious mistake many traders make because they want to make profit at all cost. I'll refer it to as trade chasing, chasing trade is a very bad habit and can make a trader miss opportunity in the market. After you may have lost all funds as a result of impatient by chasing trades you re mostly left behind with empty account when the right market opportunity to make profit eventually shows up.

Well that's true for one to be able to be successful in trading he or she need to have some good principles and also have good emotion management. Alot of trading don't normally take their time to gather some good knowledge on how trading work they just want to make it pretty fast through trading , neglecting the fact that they can easily lose their funds in trading by just making a slight mistakes. That's why trading not something one need to rush , one need to take their time to understand the system of trading. Is not like holding that don't require any complex or technical knowledge.