Common Mistakes people make in Trading - page 5.

IceLincoln

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Quote from: Mahanton on July 09, 2024, 08:39:31 AM

2. Emotional Decision-Making

The common mistake on which I do believe that most people would really be able to commit even if you veteran or old, there would be no exemption and this is one of the most common mistake on why traders lose money on the moment that emotions would really be that get involved but basing up on the list above on which these are indeed precise and correct.

Somehow on the moment that you do already get that expience then you could really changed up the possible
Outcome or at least having that much better trading position because you do already know on what you are doing basing up on the
Past engagement you do have on which it's a common reaction to have.

There’s this funny attitude people exhibit, it has happened to me once or twice… maybe more lol.
The act of revenge trading, getting back at the market for your loss just immediately after, maybe you made a gain of let’s $500 and in your next trade you lost $300 and you feel like you can get it back but then you’ve allowed so much emotions already to set in and you end up loosing more than you bargained for.
That’s why discipline and strategy is strictly adviced

Y3shot

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Quote from: Abu-Naim on July 13, 2024, 12:16:45 PM

Quote from: IceLincoln on July 09, 2024, 05:28:56 AM

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.

If you are able to avoid all these mistakes, you will surely be a good trader, but can we avoid all these?

We are humans, and we do make mistakes due to emotions; trust me, you can never remove your emotions from your trading activities, you can only limit your emotions because it is natural, but taking off greed will actually help if you have good knowledge.

Even the pro traders are always making mistakes too so we don't need to justify any one and it is very quite good we focus on things that will help us to make money as a trader. Greed has been one of the problems many traders are facing and this has been a big problem for us and it is quite important for us to work on ourselves so we can get it fixed. It is not everybody that can trade because not everyone of us has the discipline to concentrate and focus as a trader. Trading is quite profitable and it is good we learn the act of trading very well before we starts trading live.

Zanab247

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Quote from: Stepstowealth

Quote from: AmoreJaz

Even old timers can suffer mistakes because in this market, there is no concrete strategy that you can deploy to every project.

knowledge is improving and more facts are established daily, as a trader who wants to consistently make profit from the market there is a need to stay informed about these improvement and changes in knowledge so that we can stay profitable and not suffer from mistakes due to our old knowledge.
Old timers who refuse new learning and hold on to old knowledge are the ones who are more in danger to suffer these mistakes.

When traders ignore knowledge before approaching trading, it will make such traders not to be happy when the result occurs because the knowledge which is the major tool professional traders use to make a good profits is not there at the moment.

Despite the old tactics is still working for you to trade in the market to make profits doesn't mean you cannot add more new tactics to your trading, because market price is dynamic which it can change time to time to allow traders to make profits or lose profits, but if you have different tactics of trading your coins in the market, it will be hard for you to lose. I believe many beginners will like to correct their mistakes to add more tactics to their trading, so that they will not experience what other traders are going through in the market.

tottong

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Quote from: IceLincoln on July 09, 2024, 05:28:56 AM

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.

nelson4lov

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If I have to pick one mistake that I'd consider the biggest of them, overleveraging comes to mind. It's going to be my default pick because I have seen countless people on crypto Twitter got their account wiped out in moments of extreme volatility in opposite direction of a trade. There's a guy that was up $90K+ on his longs with about $40k worth of it being loan. All of it got wiped out when majority of the longs were flushed out during the recent crypto market downturn. I personally use leverage and knowing very much how it can be a make or break tool.

Make — if trade goes in your favor.
Break — if otherwise.

You can hold spot and the price of the tokens go another -99% after a -90% correction. The same can't be said about leverages. That's why even the biggest ct trades use a leverage between 1-5x with 3x being the most popular.

Questat

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Quote from: Abu-Naim on July 13, 2024, 12:16:45 PM

Quote from: IceLincoln on July 09, 2024, 05:28:56 AM

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.

If you are able to avoid all these mistakes, you will surely be a good trader, but can we avoid all these?

We are humans, and we do make mistakes due to emotions; trust me, you can never remove your emotions from your trading activities, you can only limit your emotions because it is natural, but taking off greed will actually help if you have good knowledge.

No one seems to be a perfect trader because no one is good enough to consistently avoid all these common mistakes a human experience in trading. Greed and emotions are inborn, we need not to eradicate them completely since it's certainly impossible, but all we can do is to make more informed decisions that can help us analyze the market well and prevent us from falling into doing the same mistakes again when trading.

Cryptoababe

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People tend to focus on one asset rather than looking for one or two more. Although it's not good to trade too many assets because it leads to higher risk and a higher probability of liquidation, the mistake of focusing on one coin that doesn't really move much can cause some traders to have lower profits than others.

Abu-Naim

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Quote from: IceLincoln on July 09, 2024, 05:28:56 AM

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.

If you are able to avoid all these mistakes, you will surely be a good trader, but can we avoid all these?

We are humans, and we do make mistakes due to emotions; trust me, you can never remove your emotions from your trading activities, you can only limit your emotions because it is natural, but taking off greed will actually help if you have good knowledge.

Viscore

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Quote from: el kaka22 on July 10, 2024, 11:31:32 PM

New ones, I can understand why they are making these mistakes because even though we may think that they are very simple stuff to avoid and we know how to not make these mistakes and very well adjusted on our ways, it is still obvious that newbies are newbies and they may not know what we know, well they do not know what we know that is why they are newbies, and because of that we should focus on the fact that they are capable of making them.

However, there are some veterans, who do not make one of these mistakes for years, like lets say chasing loses, they do not chase any loss for years, and then one day, like they somehow forgot all they know, they start chasing one loss because they feel so stubborn about it. That is what I do not understand, keep your composure mate.

That’s why a lot of newbies these days talk about trading is easier when said than done, because they really thought that being a successful trader is just a piece of cake, but when they start trading on their own, that’s when they realized that it’s difficult and complicated, the reason why some traders end up quitting than seeing their trades losing more often.

Mistakes are normal most especially for beginners, but what isn’t normal is if they keep on committing the same mistakes again and again without learning their lessons. That’s the sign that they weren’t learning trading at all, but most probably trading like gambling.

mirakal

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Quote from: AmoreJaz on July 11, 2024, 05:05:48 PM

Quote from: mirakal on July 09, 2024, 09:03:48 AM

Committing mistakes gives us a reason to improve and we believe that every single mistake is an opportunity to learn new things. But of course, I don't say we need to do this (mistake) for that sake when we know there is a chance. In fact, we know already these things, and a chance for newcomers to avoid them but why does still exist?

Well, there are somewhat called decision-making differences, and even old traders give some hints and warnings yet, our minds can be changed in the actual scenario. Most of the time we think it is okay but it is wrong, and we just realized it was when a mistake is made.

Even old timers can suffer mistakes because in this market, there is no concrete strategy that you can deploy to every project. It varies from one project to another, and so you need to keep up with each project if you don't want to suffer great losses. This is also the reason why even if you know TAs, fundamental analyses and other types of trading analysis, you still need to know the project itself and follow what's going on because like it or not, those strategies won't be used because the dev team itself is playing a different game.

Because the market is unpredictable and no perfect strategy fits every situation. But I think this is not a problem, most of us traders are too emotional which affects our decision-making make more terrible decisions rather than through deep thinking. Most of us act rushing which is not the thing we are supposed to do because this will lead to committing mistakes. That is why I always say to "trade calmly and relax because having some pressure can't be good as this will be a reason for emotional stress".

Mr.sprin

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Quote from: uswa56 on July 13, 2024, 01:35:22 AM

When someone makes a trade not based on the knowledge they have, of course only luck can give them a profit in that trade, as you said, they are more similar to the activities carried out by a gambler, of course this will be a big loss because they have made a big mistake when deciding to trade. and it would be better for them to first learn what can be done in trading or not so that they can trade correctly.

Greed and emotion will of course make us unable to trade well and we must be able to train ourselves not to trade with emotion which results in us not being able to make a profit from trading because these two things will certainly be difficult to do the right thing when make trades.

You are right, of course everyone who trades will experience losses due to mistakes they make, whether they have been trading for a long time, or even if they are new to trading, of course this is a normal thing, but they must be able to correct every mistake and try again carefully so that Don't repeat the same mistakes again to be able to make a profit from trading.

Similar things often happen because they think too much about big profits so they forget about the things they receive only at a loss. By prioritizing our egoism, we will also do things that we shouldn't do so that problems don't happen to ourselves. Don't put it first. Our passions and emotions must remain relaxed under the applicable rules so that we can minimize losses.

As you said, it's true that basic knowledge should be learned before starting trading so that we can know which paths we can take and which we can't, there are rules and ways to play, everyone has their own method to make a profit, don't just play. Large capital does not guarantee large profits either. The most basic knowledge can then be balanced with slow practice while studying so that we can absorb the knowledge more quickly.

uswa56

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Quote from: Maslate on July 11, 2024, 04:59:50 PM

I have also seen it and observed it. They pursue what they think is trading, even if in reality they fall like gamblers. And as much as people turn emotional when they don't like what they're seeing, but we all know in trading, emotions are a big threat. You can only trade successfully without high emotions involved, otherwise you will ruin the future of your trades.

New and old traders have still their fair share of mistakes and losses in trading, and until they won't submit onto the rules and requirements in trading, one cannot trade successfully and profitably.

When someone makes a trade not based on the knowledge they have, of course only luck can give them a profit in that trade, as you said, they are more similar to the activities carried out by a gambler, of course this will be a big loss because they have made a big mistake when deciding to trade. and it would be better for them to first learn what can be done in trading or not so that they can trade correctly.

Greed and emotion will of course make us unable to trade well and we must be able to train ourselves not to trade with emotion which results in us not being able to make a profit from trading because these two things will certainly be difficult to do the right thing when make trades.

You are right, of course everyone who trades will experience losses due to mistakes they make, whether they have been trading for a long time, or even if they are new to trading, of course this is a normal thing, but they must be able to correct every mistake and try again carefully so that Don't repeat the same mistakes again to be able to make a profit from trading.

stomachgrowls

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Quote from: Stepstowealth on July 11, 2024, 05:37:39 PM

Quote from: AmoreJaz on July 11, 2024, 05:05:48 PM

Even old timers can suffer mistakes because in this market, there is no concrete strategy that you can deploy to every project.

knowledge is improving and more facts are established daily, as a trader who wants to consistently make profit from the market there is a need to stay informed about these improvement and changes in knowledge so that we can stay profitable and not suffer from mistakes due to our old knowledge.
Old timers who refuse new learning and hold on to old knowledge are the ones who are more in danger to suffer these mistakes.

No one starts on being a professional and this is why we would really bei having these kind of mistakes and just like on what you had said that the important thing on here is that despite of those mistakes and error that you are making, you are also learning at the same time on which this is what you do need so that you do able to sustain yourself in speakingon dealing up with this unpredictable space on which we know that it's never been that easy for you to deal with.Just remember that this isn't gambling on where you do make yourself having that kind of act or approach.Dont make yourself that delusional too on where you do believe that trading is easy.

Learning trading is s very long process on which you can't be able to make yourself having a good grasp towards it on a short period of time.Just don't make yourself in a hurry because this is where mistakes and bad decisions do really happen on which we know that this is something that brings disaster.

Stepstowealth

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Quote from: AmoreJaz on July 11, 2024, 05:05:48 PM

Even old timers can suffer mistakes because in this market, there is no concrete strategy that you can deploy to every project.

knowledge is improving and more facts are established daily, as a trader who wants to consistently make profit from the market there is a need to stay informed about these improvement and changes in knowledge so that we can stay profitable and not suffer from mistakes due to our old knowledge.
Old timers who refuse new learning and hold on to old knowledge are the ones who are more in danger to suffer these mistakes.

AmoreJaz

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Quote from: mirakal on July 09, 2024, 09:03:48 AM

Committing mistakes gives us a reason to improve and we believe that every single mistake is an opportunity to learn new things. But of course, I don't say we need to do this (mistake) for that sake when we know there is a chance. In fact, we know already these things, and a chance for newcomers to avoid them but why does still exist?

Well, there are somewhat called decision-making differences, and even old traders give some hints and warnings yet, our minds can be changed in the actual scenario. Most of the time we think it is okay but it is wrong, and we just realized it was when a mistake is made.

Even old timers can suffer mistakes because in this market, there is no concrete strategy that you can deploy to every project. It varies from one project to another, and so you need to keep up with each project if you don't want to suffer great losses. This is also the reason why even if you know TAs, fundamental analyses and other types of trading analysis, you still need to know the project itself and follow what's going on because like it or not, those strategies won't be used because the dev team itself is playing a different game.

Maslate

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Quote from: boyptc on July 09, 2024, 05:55:52 AM

There are traders, new and old that can't accept the fact when someone says that their type of trades are a gamble.

While that becomes true when they are lack of those things and keeps on committing a wrong trade. Knowing how to read the market, fundamentals and charts.

IMHO, that's the start of how one can avoid all of those mistakes. Because many traders today are certainly just betting against the market.

I have also seen it and observed it. They pursue what they think is trading, even if in reality they fall like gamblers. And as much as people turn emotional when they don't like what they're seeing, but we all know in trading, emotions are a big threat. You can only trade successfully without high emotions involved, otherwise you will ruin the future of your trades.

New and old traders have still their fair share of mistakes and losses in trading, and until they won't submit onto the rules and requirements in trading, one cannot trade successfully and profitably.

irhact

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Quote from: josgandosbro on July 11, 2024, 12:59:03 AM

Trading process Is lot of update everyday. But some traders not check the new update and not lean the training full details. It affects is trading investment. So wait for some time before trade. Tardiness is not easy to handle. Trading learn is important for the market place. Market place price any time to up and down. Don't trade without any training knowledge. It affects you profit and lose the lot of money. So time to accts time process.

Traders don't stop learning as we can learn from our mistakes. Trading without a strategy is one mistake alot of individual are making when they're trading. You can't start a trade without having any plans but just believing that you're going to make it. Avoiding mistakes will help us to not lose money that we should be using to begin our trade. There's no individual that is successful at trading that doesn't have a strategy. Some trader develop their own strategy and use it without letting anybody know about it but you can copy already known strategy that is giving traders profit and use it for your own trade. If you copied the strategy well. It can help you to make profits too. More than one individual can use the same trading strategy and everybody makes profits if it works.

Dr.Bitcoin_Strange

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The problem some people face so much in gambling is that they usually attach their emotions to losing, which can cause them to lose more money. The way I have advised some people to overcome such a habit is to practice on the demo account, and while they do so, they must handle the funds on the demo account like real money that belongs to them, and they must learn how to manage it because it's how they manage it that will determine how they can manage their real fund when they start live trading. It worked for some friends, but some can't overcome it.

Like you already said, trading is not a simple task; everyone who wants to make a living from trading must learn all that it entails.

josgandosbro

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Trading process Is lot of update eveday. But some traders not check the new update and not lean the training full deatils. It affects is trading investment. So wait for some time before trade. Tardiness is not easy to handle. Trading learn is important for the market place. Market place price any time to up and down. Don't trade without any training knowledge. It affects you profit and lose the lot of money. So time to accts time process.

el kaka22

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New ones, I can understand why they are making these mistakes because even though we may think that they are very simple stuff to avoid and we know how to not make these mistakes and very well adjusted on our ways, it is still obvious that newbies are newbies and they may not know what we know, well they do not know what we know that is why they are newbies, and because of that we should focus on the fact that they are capable of making them.

However, there are some veterans, who do not make one of these mistakes for years, like lets say chasing loses, they do not chase any loss for years, and then one day, like they somehow forgot all they know, they start chasing one loss because they feel so stubborn about it. That is what I do not understand, keep your composure mate.

Topic: Common Mistakes people make in Trading - page 5. (Read 1304 times)