Topic: Don't do this mistakes in trading - page 3. (Read 1385 times)

Basically, every time we trade, we always make mistakes, especially if we are still beginners. In trading, every mistake we make will of course have an impact on our finances. Mistakes made by traders are actually normal. However, if these errors occur continuously, it can cause our finances to shrink and be wasted. Moreover, if we cannot control our greed, the worst risk is that we will lose everything.

The mistake that we often encounter, especially those made by traders, is greed. Where they trade with the aim of getting instant profits and this is constantly being rushed so that their goals are sometimes unreasonable. What makes many traders end up being emotional and careless in choosing investment assets without first researching them. Of course, we all need to avoid and must be able to control ourselves so that greed does not occur because with greed we will also trade money that we cannot afford to lose.

In trading and in business or in everything there are always risks. And in crypto trading the risk is much greater. But behind big risks there is always an opportunity to make big profits. This is what usually makes someone greedy. And can't control his emotions. Because you always don't feel like you have enough of the small profits you have made and feel like you have to have bigger profits in the near future. But an experienced trader will always regulate their emotions so that they do not influence trading decisions too much. Because even though emotions are also needed to take risks. But still, in carrying out analysis we have to think calmly and without involving too much emotion. And most of those who experience losses are those who are very bad at managing emotions. Those who are greedy and impatient are examples of people affected by Fomo.

Sometimes greed is the outcome of investing a money that you can't afford to lose. If you don't want to lose the money, then don't trade. There is always a risk on everything we spent if we want to make profit, particularly in business. There is always a risks in investing and there's more risk if we trade especially in futures. There's a chance of losing money, and the emotions has an important role to become profitable. So if you can't afford to lose, then your emotion will be so much affected as well as your trade. And that's one the reason why a trader lose in the long run.

Well said. Every Trader without a plan surely will Trade badly, i agree with your opinion that we should always have profit target and also loss (PnL), this helps a lot, me myself I always ensure to set mine this limits the greed and also prepare you for any outcome. If Trader use this method, I do not believe they will be expose to much risk.
This must align with any Traders plan.

In any case, greed will lead to negative things, especially in trading. To prevent this from happening to us, we should set a target before we trade, be it a profit target or a loss target. That way, we can further minimize the greed that comes to us.
It's not easy to implement this, but we can work hard to do it. I'm sure we will get used to it and be able to suppress the greed within us.
When we can control ourselves, we will be able to avoid things that will have a bad impact on us. And I think only we can control ourselves, so we have to be in complete control so that emotions or greed don't control us.

Some traders lose their money due to excessive greed. Trading is definitely risky so we have to watch and then trade. Many times it is seen that we want to trade without our proper knowledge in trade, of course before trading we must gain proper knowledge about trade then we have to trade. We have to let go of our excessive greed in trading. When we see that we are making some profit but we don't, we don't have much time to hope for additional profit, it makes us lose more. However, if we have enough experience in trading, if we can make the right decision at the right time, we will achieve a lot of success through this trade. This will give us a lot of work in managing our life and seeing our success, ten more people will show interest in trading.

I agree with this especially about greediness. When it comes to trading, greed might result in rash choices, excessive trading, or taking on excessive risk. Greed can impair judgment, lead traders to risk too much money on a single trade, or cause them to hang onto lost positions for too long. Having a sound trading plan and following it is more crucial than pursuing excessive profits out of greed. To stay out of the greed trap, it's critical to control risk and establish reasonable profit goals.

You are totally right, that is what it's really killing some traders and it's also making them to lose the more, greedy is a very bad habit, that once you start it, it will be very hard for one to stop it and it's one of the fastest way that lead to addiction, which is really against gambling because it's never a good habit and can't yield a good report in someone's life. Also using gambling with what you can't afford to lose, also makes it hard for one to take or leave quietly, they will want to recover their money which will be making them to act in a irresponsible way. So let's try to fight addiction and also be patient and have self control, so that we won't be a victim of circumstances.

Even though it's the most basic thing to remember, but these things are often be forgotten by those traders because they think they can just get away with it and underestimate the impact you could get from these two points. Patience could fit for another point there, but for investment these two are the most important especially greed where if greed take over control of you then bad things are continuously happen.

In my opinion, making mistakes in trading repeatedly is normal or very natural, they want to know whether the indicator technique they are using or using so far is working well or not. If successful, he will gain knowledge from the learning so far from the indicators used. Therefore, it is important for us to install a stop loss indicator in trading, how much is the profit and how much is the loss. To minimize the losses you trade in the short term. If they have not found common ground in these indicators during learning, they can move on to other options with the spot model. This type of model is correct in what you say, the risk is much less than short term.

That's the problem with such kind of a trader, if you are more on your emotions you will be dominated by greed and fears, though some may develop good attitude with that basic principles, as long as you can handle the pressure and you know how to move forward if in case that you failed your attempts.

Your mentality needs to be driven by facts and knowledge regarding to the business that you are into, if you failed to control yourself then that's the time that you are endangering your deposit.

Decision making needs to be based from the knowledge and understanding and not by emotions.

Most traders always think that acquiring the skill of trading will reduce the losses,yeah it's right a trader knows the fundamental and technical analysis of trading.But a greedy trader may end up with losses most times for instance a trader targeting a profit of 100% and when the profit is 50% he/she won't sell the current profit and when the price drops the trader regrets and loss.And also a trader should trade an amount he/she can afford to lose in order to reduce great loss.

Trading outcomes do not have something to do with your trading capital, but it’s the amount of your knowledge and skills that you put into trading that matter the most. While some beginners make sure to provide large amount of funds prior to trading, but in the end they still lose and turn their funds into waste, except for skilled traders as they can be confident with huge amount and end up trading with huge profits as well.

Greed has no room in trading. You can be greedy but without sufficient knowledge and skills in trading, still you end up with nothing gained. That’s why be contented with small amount of trades, so that if ever you lose, the pain and losses will still be bearable.

I don't think anyone wants to keep making the same mistakes, unless they have a significant mental illness. There are steps that anyone can take to prevent mishaps. Learning from experience and seeking guidance will also lessen the likelihood of making mistakes. Because no one is flawless and everyone makes mistakes, making a mistake is simply an opportunity for you to embrace and learn from it. Making mistakes is not a terrible idea at all. And that is how you learn from your mistakes and become a trader. And when you make a mistake, you'll want to learn from it. This is what growth is all about.



Since mistakes are not deliberate so it will be a little better to always be conscious of making mistakes even if it is something we are going to learn from. But everyone should avoiding making mistakes. If you continue trading it will get to a point that your mistakes will be reducing because you will be becoming a professional. Not only mistakes matters but  consistency will end up been the key because the more you trade the more you learn. Price crash because it is a normal thing. If you don't get your self use to that situation it will always make you worry.  And been available mentally also matters a lot. Because you emotions will determine how your trade will go. Their are some things that can be avoided. So it is better to aviod them.

Well, you're right there; actually, what the traders mentioned are doing is not easy to do; you have to have the dedication to know the cryptos that you will make a profit through trading. Because you will really exert time and effort.

That's why I also admire those types of traders who are full of dedication to getting firm earnings here in the crypto trading business. Traders like that are rare, and that is also one of the things that a trader tries to adopt as a character.

I remember vividly when I first attempted to trade, my friend who convinced me to trade told me I do not need to be knowledgeable in trading before I start trading. I can start with copy trading and make steady returns. I got interested then and agreed to join the trading 'business', but it didn't take me long to realise that I was given the wrong orientation. Imagine deciding to trade with the intention of making lots of money without stressing about it, I was literally consumed with greed and ignorance. Ofcourse my first attempt at trading failed woefully 

I just hope newbies learn from my story and put lots of energy in acquiring the right knowledge. There are lots of profits to be gained from trading, this can only come if done right.

Little profit is much better than losing your money due to greed because little money can become more if we accumulate this sum and manage wisely. If someone invests wisely in top coin then no matter if he is gaining little profit or more but if he is not losing any amount then he is successful.

We should avoid greed here because most of the time people prefer their greed and without investing in top coin they start to buy altcoins as they heard that they can return huge and quick but due to this greedy behavior and faulty choice one feels contrite for the whole life but cannot do anything.

Newbies often start with huge amounts as they believe that the more they spend the more they will gain but with lack of experience earning becomes difficult for them so I will suggest that they take every step wisely without listening word by word from others and accept it.

Greed occurs because they can never commit to the target they have set in the initial plan before they make a trade and this will of course really depend on a person's personality, if they can control their emotions in the trade they make, of course after they reach the investment target they make then they will be able to stop and take the profits they have earned.
Of course, every trader must be able to control greed and emotions when they trade so that they can carry out their trades according to the plans they have made and can make the right decisions on the trades they make.

The level of greed also increase when you managed to make a successful calls, but likewise it's really the big factor that affects each traders, either you are for long term trade or short term trade both are being affected of that greed inside you, though there are people who can manage to control their greed traders who really pay attention and keen with the details of their trades and how they set up their targets,  both limitation and how you execute your plans are mostly succeeded once you manage to overcome your greediness.

Excessive greed should be avoided in trading. Because those who enter the trade for a short period of time should exit with a small profit. Becoming a successful trader is not easy. You have to be very patient. Investing in the right coin and being patient for a long time will certainly yield good returns. But it is best not to take trades for a short period of time.
As with greed, excess leverage causes more losses for a trader. Therefore, for those who do futures trading, less risk with less leverage should be kept in mind.