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Topic: Common Mistakes people make in Trading - page 4. (Read 1285 times)

member
Activity: 74
Merit: 11
July 25, 2024, 03:33:44 AM
#53
3. Impulsive Behavior

One of the most common mistake on the time that you do make up tradings is on the moment that you will be finding yourself that being too emotional on what are the
decisions that you are making specially on the time or moment that you do find yourself having those loses on which these are the common times on where traders becomes
that too emotional and on the moment that those impulsive behavior spikes in then this is where desperation and careless actions would really be taken.

We are just humans and its normal that we would really be having that kind of impulsive feeling but on the moment that you do let your emotions control your mind
and decision making then this is where shit things happen. Anything could turn out to be disaster on the time that you cant think up well or cant be able to assess
the situation on which despite on minding about back up plans, you would really be rather doing actions on which arent supposed to be done.
That's right, I thought of that and I think it makes sense too. In addition, there is also something else that is almost the same as what you said, namely the absence of good judgment. Because indeed, when we feel emotional or are in an unstable emotional state, of course we will usually make decisions that are not carefully considered because of the overflowing emotions that make the decisions made tend to be rushed. This can actually be prevented as long as we can know when to stop. Unfortunately, emotions must be owned by everyone and tend not to be able to hold it.

We must try as much as possible to be able to control our emotions so that our thoughts remain clear and can consider the decisions to be made. Don't follow your emotions, because that can make everything go wrong like you said with the bad things that will happen, and I think that's for sure. Having a backup plan doesn't mean that we can do things beforehand casually or recklessly, of course there must be precautions and always be careful in making decisions.
full member
Activity: 241
Merit: 100
July 24, 2024, 10:07:06 PM
#52
Another thing you should know about gambling is in the fact that gambling can be very dynamic and it doesn't really get to follow a pattern in some cases, i understand that in trading, patterns are things most traders do look out for because most often, it does play out but importantly we should understand that it will not happen always. by all this I'm saying that all that you have said and stated are really okay and are really true but then exceptions do happen such that some may not keep to all of this rule and still trade well so its not a fixed thing,

There are other factors that can affect the results of a trade and what you thought was going to happen by your predictions will be different because the events happening when you are trading is not the same event that happen previously when the strategy that you are using was developed. We have to keep an open mind when trading and be willing to accept the outcome of our predictions. If things go as we predicted then we should be happy but when a different result is gotten, we should go back and look at our strategy to see if we made a mistake and when there are no mistake then we should just accept it as it is because as traders we can not make profits from all our trades as there are some trades that we are just going to lose regardless of how good we are becoming as a trader.
When executing a trade, of course, it will be very different from what we have planned well, I think when planning a trade, we also need to prepare ourselves so that we can solve the problems that occur when executing trades, yes, of course everyone will feel happy when they succeed in the trades that are carried out and I agree with you when we experience failure in trading, we must be able to re-evaluate what we have done and If there is indeed a mistake that we make, of course we must be able to correct it and do not let us repeat the same mistake again in the next trade.
hero member
Activity: 2968
Merit: 687
July 24, 2024, 04:29:57 PM
#51
3. Impulsive Behavior

One of the most common mistake on the time that you do make up tradings is on the moment that you will be finding yourself that being too emotional on what are the
decisions that you are making specially on the time or moment that you do find yourself having those loses on which these are the common times on where traders becomes
that too emotional and on the moment that those impulsive behavior spikes in then this is where desperation and careless actions would really be taken.

We are just humans and its normal that we would really be having that kind of impulsive feeling but on the moment that you do let your emotions control your mind
and decision making then this is where shit things happen. Anything could turn out to be disaster on the time that you cant think up well or cant be able to assess
the situation on which despite on minding about back up plans, you would really be rather doing actions on which arent supposed to be done.
sr. member
Activity: 322
Merit: 227
Playbet.io - Crypto Casino and Sportsbook
July 24, 2024, 02:22:04 PM
#50
Another thing you should know about gambling is in the fact that gambling can be very dynamic and it doesn't really get to follow a pattern in some cases, i understand that in trading, patterns are things most traders do look out for because most often, it does play out but importantly we should understand that it will not happen always. by all this I'm saying that all that you have said and stated are really okay and are really true but then exceptions do happen such that some may not keep to all of this rule and still trade well so its not a fixed thing,

There are other factors that can affect the results of a trade and what you thought was going to happen by your predictions will be different because the events happening when you are trading is not the same event that happen previously when the strategy that you are using was developed. We have to keep an open mind when trading and be willing to accept the outcome of our predictions. If things go as we predicted then we should be happy but when a different result is gotten, we should go back and look at our strategy to see if we made a mistake and when there are no mistake then we should just accept it as it is because as traders we can not make profits from all our trades as there are some trades that we are just going to lose regardless of how good we are becoming as a trader.
legendary
Activity: 2660
Merit: 1074
July 24, 2024, 12:56:52 PM
#49
I am more interested in these because if you cannot have a balance between your emotions and your decision, then you will have a good balance in your trading space, and this is one of the hardest acts to stay away from because if you can’t have that balance, you will never succeed or overcome your greed.
 
Because everyone is greedy, what just matters is knowing how to control your own greed, and that will never be achieved unless you have a strong balance between your decision and your emotions. With that, you will be able to stick to your plans, and it will be very hard for you to follow your emotions because there is balance, and if not, you will have to face the consequences of what you did.
Both are related, hell they are both included there. Our decision-making will depend on our emotions, so if we have a good or stable emotion, we can expect that our decisions will also be right and can ensure to give us a good outcome. It can help us to decide easily, which is great so that we can have a less stress in mind and then we can move on to other things that we are planning to do immediately. Once we already master the pointers given by the OP, why will we ever plan to abandon even a few of them? I think no one wants to have a poor performance in trading. If in case we are planning to lay low, or quit trading permanently, then we will also leave all of them, not just a few.
hero member
Activity: 2828
Merit: 518
July 23, 2024, 02:15:42 AM
#48
It has been said that all of them are common mistakes, and they still exist no matter how often a trader falls into any of them. No matter how we try to avoid them, as human beings who are born with emotions and weaknesses, we can't fully avoid them. It is a fact to accept that mistakes are usual, but we don't have to think this is a reason for our failure. We can be better traders even if we commit mistakes if we know how to accept them and minimize losses. Handling emotions is not easy, which is why achieving success is not easy either.
legendary
Activity: 3094
Merit: 1127
July 22, 2024, 10:58:44 AM
#47
Of course, as you have said, even traders who already have a lot of experience will never escape losses, or in that sense whoever you are, beginner or experienced, of course you will still experience losses, and it is also a fact that in Any activity that has the potential to be profitable will always have a negative side, such as the risk of loss. But perhaps the difference between beginners and professionals is in terms of losses, in the sense that beginners definitely experience more sessions that make them lose due to their knowledge being still very basic.

This means that skill and knowledge do not mean that they will always guarantee profits but are useful for increasing the opportunity for profit and minimizing the risk of loss, and if indeed skill or a lot of knowledge is a guarantee of always being able to make a profit and completely avoiding losses then surely the richest person in the world today is they are traders. Basically, the market will continue to run and create different prices. Simply put, as long as the market is running, of course the risk of loss will always be there.
I believe that even veterans may make some mistakes, but veterans do end up being a lot better most of the time as well, they do not end up with a loss, it should be pointed out that we are talking about something that takes some time, so it shouldn't really be a problem.

A veteran would rarely lose money, because they are a veteran or at least they should, because if they spent so much time learning and trading and still making a loss then there is something wrong with them. Majority of the veterans lose money very rarely, and while they do, newbies keep on losing money like crazy and that is something that we have to realize as a difference.
When it comes to mistakes then there's no such thing about being expert or simply its an inevitable stuff on which you wouldnt really be able to avoid because this market is really that volatile and something that cant be predicted. You shouldnt really be that making yourself being that perfectionist because on the moment that you would really be pushing yourself into your limits then you would really be having that kind of behavior on which you would really be ending up on being desperate on which this isnt something good when you do deal up with trading. This is why it would really be that important that whenever you do experience loses or mistakes then theb est thing to be done is to make yourself that learn with those mistakes. Mistakes do really give out that kind of learning and on the moment that you do gain up more experience then this is where
you do gradually make yourself being called as a professional when time comes.

It would never been ideal nor really that recommended on trying out to chase up losses. This is where it would really be testing out your patience and your emotion
on which this market will really be that like a roller coaster. So adjustments will really be crucial anytime.
full member
Activity: 434
Merit: 202
Duelbits.com
July 22, 2024, 10:21:21 AM
#46
Another thing you should know about gambling is in the fact that gambling can be very dynamic and it doesn't really get to follow a pattern in some cases, i understand that in trading, patterns are things most traders do look out for because most often, it does play out but importantly we should understand that it will not happen always. by all this I'm saying that all that you have said and stated are really okay and are really true but then exceptions do happen such that some may not keep to all of this rule and still trade well so its not a fixed thing, sometimes you even get to a point when you become very advanced trading, you may not want to abide by all of this because eat that pint you will be operating with a system that provides you with maximum efficiency.
legendary
Activity: 2716
Merit: 1092
Leading Crypto Sports Betting & Casino Platform
July 22, 2024, 08:36:37 AM
#45
Of course, as you have said, even traders who already have a lot of experience will never escape losses, or in that sense whoever you are, beginner or experienced, of course you will still experience losses, and it is also a fact that in Any activity that has the potential to be profitable will always have a negative side, such as the risk of loss. But perhaps the difference between beginners and professionals is in terms of losses, in the sense that beginners definitely experience more sessions that make them lose due to their knowledge being still very basic.

This means that skill and knowledge do not mean that they will always guarantee profits but are useful for increasing the opportunity for profit and minimizing the risk of loss, and if indeed skill or a lot of knowledge is a guarantee of always being able to make a profit and completely avoiding losses then surely the richest person in the world today is they are traders. Basically, the market will continue to run and create different prices. Simply put, as long as the market is running, of course the risk of loss will always be there.
I believe that even veterans may make some mistakes, but veterans do end up being a lot better most of the time as well, they do not end up with a loss, it should be pointed out that we are talking about something that takes some time, so it shouldn't really be a problem.

A veteran would rarely lose money, because they are a veteran or at least they should, because if they spent so much time learning and trading and still making a loss then there is something wrong with them. Majority of the veterans lose money very rarely, and while they do, newbies keep on losing money like crazy and that is something that we have to realize as a difference.

Yes and indeed that is a fact, in the sense that even professionals or those who are experienced still experience losses in their trading activities and it is a normal thing to happen in an activity that cannot be predicted 100% accurately. This means that having more experience or flying hours does not mean that it will guarantee you to always make a profit in every trading session, but rather that it will make your trading skills much better in the sense that you will be able to avoid the possibility of too significant losses.

This doesn't mean "not at all" but rather "rarely experience losses", but on the other hand there are also some professionals who experience losses that exceed their profits, in terms of time yes they have more flying hours than beginners but the results are not much different. with beginners, that means, as you said, there is most likely something wrong here, in the sense that it is very likely that while they are going through the process they do not learn various things about the world of trading well so that the results are monotonous or there is no progress, and if we talk about the beginners, yes, I think experiencing losses more often than profits is normal, but over time they should get better.
hero member
Activity: 3164
Merit: 675
www.Crypto.Games: Multiple coins, multiple games
July 22, 2024, 04:50:52 AM
#44
Of course, as you have said, even traders who already have a lot of experience will never escape losses, or in that sense whoever you are, beginner or experienced, of course you will still experience losses, and it is also a fact that in Any activity that has the potential to be profitable will always have a negative side, such as the risk of loss. But perhaps the difference between beginners and professionals is in terms of losses, in the sense that beginners definitely experience more sessions that make them lose due to their knowledge being still very basic.

This means that skill and knowledge do not mean that they will always guarantee profits but are useful for increasing the opportunity for profit and minimizing the risk of loss, and if indeed skill or a lot of knowledge is a guarantee of always being able to make a profit and completely avoiding losses then surely the richest person in the world today is they are traders. Basically, the market will continue to run and create different prices. Simply put, as long as the market is running, of course the risk of loss will always be there.
I believe that even veterans may make some mistakes, but veterans do end up being a lot better most of the time as well, they do not end up with a loss, it should be pointed out that we are talking about something that takes some time, so it shouldn't really be a problem.

A veteran would rarely lose money, because they are a veteran or at least they should, because if they spent so much time learning and trading and still making a loss then there is something wrong with them. Majority of the veterans lose money very rarely, and while they do, newbies keep on losing money like crazy and that is something that we have to realize as a difference.
legendary
Activity: 2422
Merit: 1083
Leading Crypto Sports Betting & Casino Platform
July 21, 2024, 08:55:04 PM
#43
Trading have different types. You can not be a swing trader and be expecting yourself to use stop loss. Stop loss is good for people that use high leverage. Short term traders are the ones that use high leverage. Stop loss is often used by short term traders. Long term traders may not use it at all.

People that chase loss will lose all.
agreed with this take, using SL for long term investment feels like purposefully trying to sabotage our own investment.
just recently I tried to catch the dip of ETH with SL and finding out the SL got triggered just to find out that the price actually sky rocket not long after.
it's overall a bad tool for the long term trader but really effective for high leverage future trading to limit loss based on breaking of resistance.
definitely a thing that any trader must know.
Well, as much as I understand what you mean, several other persons may not understand completely what you mean by the term "long term trader", I think using the term "low leverage trader" should have better been understood instead of using "long term trader", because ordinarily, this two terms doesn't mean the same thing.

A long term trader can use or not use stop loss, depending on the type of trading he or she is doing, while a low leverage trader may not have to use stop loss at all, because like you said, using stop loss as a low leverage trader will be the person destroying his or her own investment and opportunity to make profit.
I have experienced what you said on several scenarios and that have thought me never to use a stop loss when ever I set a low leverage between 1x and 2x, but anything as from 3x, should consider using a stop loss.
legendary
Activity: 2506
Merit: 1394
July 21, 2024, 07:22:23 PM
#42
(...)
5. Not Setting Stop-Losses

Stop-losses are essential risk management tools that help limit losses. Many traders fail to set stop-losses, exposing themselves to significant risk.

Solution: Set stop-losses for every trade to limit potential losses.
Among the list, this is what I find very important because as you can see this involves risk management. Where it is important thing that you will remain in the trading - the more capital you have, the longer you will stay, so it is always important to protect your capital.
Minimizing losses while maximizing the profits. Risk management is a must!
full member
Activity: 448
Merit: 202
July 21, 2024, 03:56:55 PM
#41
2. Emotional Decision-Making

Fear, greed, and euphoria are common emotions that can cloud judgment and lead to impulsive decisions. Traders often make mistakes when they're emotional, such as closing positions too early or holding onto losing trades.

Solution: Develop a trading plan and stick to it. Set clear goals, and avoid making decisions based on emotions.


I am more interested in these because if you cannot have a balance between your emotions and your decision, then you will have a good balance in your trading space, and this is one of the hardest acts to stay away from because if you can’t have that balance, you will never succeed or overcome your greed.
 
Because everyone is greedy, what just matters is knowing how to control your own greed, and that will never be achieved unless you have a strong balance between your decision and your emotions. With that, you will be able to stick to your plans, and it will be very hard for you to follow your emotions because there is balance, and if not, you will have to face the consequences of what you did.
hero member
Activity: 1708
Merit: 566
Leading Crypto Sports Betting & Casino Platform
July 21, 2024, 02:09:03 PM
#40
Most common misconception people have about trading is that they have to trade all the time. Sometimes there could be even a whole week you may not find something, and while the market may still move and you may regret, the fact is simply that maybe you di d not see that move, no reason to jump into unknown if you are not sure. I have seen way many people trade without knowing what they are doing and they probably shouldn't start trading in that case.

That's the importance of planning in trading, you need to have a plan about when is the best time to enter and when is the best time to exit the market, as is done by people who also suggest limiting involvement in trading, such as making a plan regarding how many sessions what you have to do in a week or a month that is adjusted to your financial management, where this planning is useful for keeping us mentally and psychologically awake, because of course in any case when everything is done excessively it tends to always produce bad results .

So we must avoid overtrading or trading excessively in terms of time, even though for example you have quite a long knowledge and experience, but that still doesn't mean we will avoid possible losses, and overtrading is one approach that can trigger unnecessary losses. necessary, which is usually caused by our mental and psychological problems being disturbed or our minds being tired of analyzing the market so that many decisions are missed, and in most cases the overtrading approach usually often leads a trader to an MC situation.
sr. member
Activity: 266
Merit: 205
July 21, 2024, 02:53:20 AM
#39
The point you listed down here are quite valid not doubt, but you fail to add some of the most vital thing that is needed in the craft, which are;

No to Trading, as a newbie: most times newbies thinks that trading is quite easy, and they feels they can milk something good out of the market without any knowledge of technical and fundamental analysis, but after some tries and they got burned, they will start saying that trading is a scam, so the best thing is to avoid trading as a newbie.

Lack of risk management : knowledge and self control makes money for you in trading, but lack of proper risk management strategy makes you loses money, so risk management is very much important in trading.

Not knowing when to stay off the market: most traders don't actually knows that knowing when to stay off the market is also a very important skill a trader must have in other to be successful in the craft.

legendary
Activity: 2716
Merit: 1092
Leading Crypto Sports Betting & Casino Platform
July 21, 2024, 01:59:09 AM
#38

The point is that a lack of understanding of skills when carrying out trading will give bad results.
Where we will continue to experience losses caused by weak knowledge about trading.
To prepare for trading we have to improve adequate skills, we have to learn the basics and we also need to know the correct trading strategy. So that we know how to carry out trading correctly.

People who have good experience and skills also experience losses at certain times, what about people who trade with poor skills.
Trading has different types and it must be recognized so that we have a plan when implementing it and if this is not mastered then the trading plan will not work as expected.

Let us put it this way, even long-time traders can experience losses because they are also basing their decisions on their experience, skills and guts. And there are times that even if you master those TAs, it won't help you in any way because the market trend of that particular coin doesn't follow any of those TAs.

Of course, as you have said, even traders who already have a lot of experience will never escape losses, or in that sense whoever you are, beginner or experienced, of course you will still experience losses, and it is also a fact that in Any activity that has the potential to be profitable will always have a negative side, such as the risk of loss. But perhaps the difference between beginners and professionals is in terms of losses, in the sense that beginners definitely experience more sessions that make them lose due to their knowledge being still very basic.

This means that skill and knowledge do not mean that they will always guarantee profits but are useful for increasing the opportunity for profit and minimizing the risk of loss, and if indeed skill or a lot of knowledge is a guarantee of always being able to make a profit and completely avoiding losses then surely the richest person in the world today is they are traders. Basically, the market will continue to run and create different prices. Simply put, as long as the market is running, of course the risk of loss will always be there.
legendary
Activity: 3276
Merit: 1029
Leading Crypto Sports Betting & Casino Platform
July 21, 2024, 01:54:40 AM
#37
Trading have different types. You can not be a swing trader and be expecting yourself to use stop loss. Stop loss is good for people that use high leverage. Short term traders are the ones that use high leverage. Stop loss is often used by short term traders. Long term traders may not use it at all.

People that chase loss will lose all.
agreed with this take, using SL for long term investment feels like purposefully trying to sabotage our own investment.
just recently I tried to catch the dip of ETH with SL and finding out the SL got triggered just to find out that the price actually sky rocket not long after.
it's overall a bad tool for the long term trader but really effective for high leverage future trading to limit loss based on breaking of resistance.
definitely a thing that any trader must know.
legendary
Activity: 2086
Merit: 1058
July 21, 2024, 01:01:51 AM
#36
Most common misconception people have about trading is that they have to trade all the time. Sometimes there could be even a whole week you may not find something, and while the market may still move and you may regret, the fact is simply that maybe you di d not see that move, no reason to jump into unknown if you are not sure. I have seen way many people trade without knowing what they are doing and they probably shouldn't start trading in that case.

Best thing we can do right now would be just realizing that life isn't always that much sunshine and rainbow, and we should be considering how to get better with time. All in all, if we know what we are doing, then nobody could stop us, and things will be much easier for us.
This is so true, and yet so few people know about this. I think we should be aware of the fact that people are not really aware of the fact that they do not have to trade constantly. I think they should realize that we are going to end up making some money based on what we have, and sometimes that's not going to be that easy, we could potentially see that changing.

We need to consider the fact that we can make it work some way or form. I believe that its going to cause a lot of trouble, and things won't be that easy. Just realize that life isn't simple, and things won't be easy, and we can make it work some way or not.
legendary
Activity: 2996
Merit: 1132
Leading Crypto Sports Betting & Casino Platform
July 19, 2024, 03:06:34 AM
#35
Most common misconception people have about trading is that they have to trade all the time. Sometimes there could be even a whole week you may not find something, and while the market may still move and you may regret, the fact is simply that maybe you di d not see that move, no reason to jump into unknown if you are not sure. I have seen way many people trade without knowing what they are doing and they probably shouldn't start trading in that case.

Best thing we can do right now would be just realizing that life isn't always that much sunshine and rainbow, and we should be considering how to get better with time. All in all, if we know what we are doing, then nobody could stop us, and things will be much easier for us.
legendary
Activity: 3122
Merit: 1102
Leading Crypto Sports Betting & Casino Platform
July 18, 2024, 06:03:59 PM
#34
By avoiding these common mistakes, you can refine your trading strategy, improve your discipline, and increase your chances of success in the markets. Remember, trading carries risks, and education is key to making informed decisions. Stay informed, stay disciplined, and trade wisely.

The point is that a lack of understanding of skills when carrying out trading will give bad results.
Where we will continue to experience losses caused by weak knowledge about trading.
To prepare for trading we have to improve adequate skills, we have to learn the basics and we also need to know the correct trading strategy. So that we know how to carry out trading correctly.

People who have good experience and skills also experience losses at certain times, what about people who trade with poor skills.
Trading has different types and it must be recognized so that we have a plan when implementing it and if this is not mastered then the trading plan will not work as expected.

Let us put it this way, even long-time traders can experience losses because they are also basing their decisions on their experience, skills and guts. And there are times that even if you master those TAs, it won't help you in any way because the market trend of that particular coin doesn't follow any of those TAs.

To avoid such heavy losses, one should be patient in learning more strategies not only those TAs, fundamental analyses. Some can get good hints from the social media platforms of the project. If you are aware of their social media channels, better subscribe if you have significant amount of money at stake. Exchange of ideas sometimes in those channels are very informative that you can already come up with a good decision.
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