Those two things are the most problematic and hard to control if you are just starting. It's definitely important to have that money management/ risk management when you are handling your portfolio. It's going to be a hard thing to recover if you have lost it all and have no control. As long as you see in the long term that you would be able to grow your portfolio, it's not a bad thing to consider.
Don't be greedy as well. It's tempting but it's not a good thing to do.
Topic: Don't do this mistakes in trading - page 8. (Read 1385 times)
the most problem some traders are facing is being greedy.if you can avoid being greedy you will definitely succeed in trading. yes if the particular coin accelerate that it's a good thing traders. but if the coin have risen to your expectations, if the coin have rise, and you know you not on the lossing side you sell it and make your profit.
For me, I think the most important thing is to pick some good altcoins first and then just hold onto them. Hold onto them for as long as possible. Take some profit that's enough for your living expenses, but keep holding onto them. I don't believe much in day trading. It's just for fun, for part-time. You can't make daily profit from it, especially as a normal person without information or analytics skills. So, the easy way is just holding.
1. Trading money that you can't afford to lose
Trading money that you can afford to lose is bad, but what's worse is trading with money that's not yours which you'd be unable to pay back if you lose. It's just like leverage trading, but worse because here traders take money from different people to invest and give them a profit of their money. This is too risky.
It's a different thing when you lose your money, even if that loss will wreck you than losing someone else's money when you don't have enough to pay back.
This causes a lot of problems for the trader and you might even end up in court if you're not careful.
I know all the sayings of greater risk and greater rewards and all, but we need to calculate our risk properly, or else we'll find ourselves in a lot of trouble. I know people who have lost almost everything because of this.
1. Trading money that you can't afford to lose
Trading money that you can afford to lose is bad, but what's worse is trading with money that's not yours which you'd be unable to pay back if you lose. It's just like leverage trading, but worse because here traders take money from different people to invest and give them a profit of their money. This is too risky.
It's a different thing when you lose your money, even if that loss will wreck you than losing someone else's money when you don't have enough to pay back.
This causes a lot of problems for the trader and you might even end up in court if you're not careful.
I know all the sayings of greater risk and greater rewards and all, but we need to calculate our risk properly, or else we'll find ourselves in a lot of trouble. I know people who have lost almost everything because of this.
It seems like these two things are the things that most often make people fail in trading. Even though this is a common thing and is even known to many trading players, it is still one of the main factors that causes someone to experience losses in trading.
However, this needs to be used and forced. Sometimes, we have made a profit from the trading results we have, but because of greed, we persist until we finally miss the opportunity. What's worse is, there are people out there who feel confident they can make a profit from trading without risk, so they use their main money. Well, the thing that needs to be emphasized is that trading is a way of making money that carries risks. So, never use the main money you have.
Greed and trading on that amount you can’t afford to lose are certainly the worst reasons that will make us fail in trading. But still, a lot of traders are still doing this way, because of their high greed and because of their high confidence that they will eventually make good returns in trading when in reality, these are the barriers that that block them to gain successful trading. Also, having no strategy in trading is a big factor why someone consistently lose from his trades. If he has no strategy, then most probably he is like gambling and not trading in the first place. However, this needs to be used and forced. Sometimes, we have made a profit from the trading results we have, but because of greed, we persist until we finally miss the opportunity. What's worse is, there are people out there who feel confident they can make a profit from trading without risk, so they use their main money. Well, the thing that needs to be emphasized is that trading is a way of making money that carries risks. So, never use the main money you have.
Talking about greed all of the time doesn't mean people will no longer fall for it, of course people must fall except there are no trades anymore but in as much as trades are made a portion of traders must fall into trade victims of greed. Everyone must not win their trades, an error must set in either by an act of greed or something else otherwise we won't have course to be treating the discussion all of the time.
Humans we are wired to seek for more after initial target has been attained and that insatiable nature is what create that greed in us while we trade and when a trader lack a conscious control of that innate inclination for more in his trading life you see he keeps making more losses than profits. Even in times he should make profit greed set in to take more and from taking more a collateral loss is incurred. Everyone of us has greed it is how we manage it that matters.
You know not all people have greed; instead, greed is always there by our side. It's up to us if we let it continue in our thoughts or personalities if we want it to control us.Humans we are wired to seek for more after initial target has been attained and that insatiable nature is what create that greed in us while we trade and when a trader lack a conscious control of that innate inclination for more in his trading life you see he keeps making more losses than profits. Even in times he should make profit greed set in to take more and from taking more a collateral loss is incurred. Everyone of us has greed it is how we manage it that matters.
That's why our number one enemy is ourselves. Once we don't let it enter our thoughts, we are in control, but once it enters our thoughts, our mind and conscience will fight.
Now, let's choose what will control the result of our decision.
It is true, only we ourselves can control ourselves and it is impossible for other people to advise us about the greed that is within us and to be able to fight greed we must be very calm in making decisions and never do it in a hurry which makes us wrong. in making decisions that result in losses.
No matter how many discussions talk about "common trading mistakes" this still won't change everyone. Because what I observed is the more we talk about this, the more newbies fall into committing mistakes. Honestly, it is difficult to change someone who already fell in love with money because even if they know greediness is wrong still it lives in their mind. And no matter how many times they suffer losses, that won't change their behavior. Maybe, just maybe, if they stay cool this time but can't ensure they remain cool for a long time.
We fail trading, not because of the lack of knowledge but it is due to our wrong actions and approaches.
Talking about greed all of the time doesn't mean people will no longer fall for it, of course people must fall except there are no trades anymore but in as much as trades are made a portion of traders must fall into trade victims of greed. Everyone must not win their trades, an error must set in either by an act of greed or something else otherwise we won't have course to be treating the discussion all of the time.We fail trading, not because of the lack of knowledge but it is due to our wrong actions and approaches.
Humans we are wired to seek for more after initial target has been attained and that insatiable nature is what create that greed in us while we trade and when a trader lack a conscious control of that innate inclination for more in his trading life you see he keeps making more losses than profits. Even in times he should make profit greed set in to take more and from taking more a collateral loss is incurred. Everyone of us has greed it is how we manage it that matters.
You know not all people have greed; instead, greed is always there by our side. It's up to us if we let it continue in our thoughts or personalities if we want it to control us.
That's why our number one enemy is ourselves. Once we don't let it enter our thoughts, we are in control, but once it enters our thoughts, our mind and conscience will fight.
Now, let's choose what will control the result of our decision.
It seems like these two things are the things that most often make people fail in trading. Even though this is a common thing and is even known to many trading players, it is still one of the main factors that causes someone to experience losses in trading.
However, this needs to be used and forced. Sometimes, we have made a profit from the trading results we have, but because of greed, we persist until we finally miss the opportunity. What's worse is, there are people out there who feel confident they can make a profit from trading without risk, so they use their main money. Well, the thing that needs to be emphasized is that trading is a way of making money that carries risks. So, never use the main money you have.
However, this needs to be used and forced. Sometimes, we have made a profit from the trading results we have, but because of greed, we persist until we finally miss the opportunity. What's worse is, there are people out there who feel confident they can make a profit from trading without risk, so they use their main money. Well, the thing that needs to be emphasized is that trading is a way of making money that carries risks. So, never use the main money you have.
People basically lose their money most of the time when they become greedy. I have seen many traders only think about their profits when they start making profits, and then they become much more attractive. And the businessmen who fall among such people are the losers and face great problems. In trading, we should not only plan for our profit but also keep in mind that there is loss here and this is also a matter of concern. If you want to trade, you must analyze both positive and negative aspects, otherwise it is never possible to survive in the market. So before starting trading you must control your emotions and greed otherwise it is never possible to succeed and always plan properly, but profit can be achieved.
No matter how many discussions talk about "common trading mistakes" this still won't change everyone. Because what I observed is the more we talk about this, the more newbies fall into committing mistakes. Honestly, it is difficult to change someone who already fell in love with money because even if they know greediness is wrong still it lives in their mind. And no matter how many times they suffer losses, that won't change their behavior. Maybe, just maybe, if they stay cool this time but can't ensure they remain cool for a long time.
We fail trading, not because of the lack of knowledge but it is due to our wrong actions and approaches.
Talking about greed all of the time doesn't mean people will no longer fall for it, of course people must fall except there are no trades anymore but in as much as trades are made a portion of traders must fall into trade victims of greed. Everyone must not win their trades, an error must set in either by an act of greed or something else otherwise we won't have course to be treating the discussion all of the time.We fail trading, not because of the lack of knowledge but it is due to our wrong actions and approaches.
Humans we are wired to seek for more after initial target has been attained and that insatiable nature is what create that greed in us while we trade and when a trader lack a conscious control of that innate inclination for more in his trading life you see he keeps making more losses than profits. Even in times he should make profit greed set in to take more and from taking more a collateral loss is incurred. Everyone of us has greed it is how we manage it that matters.
I understand your point, but the truth is that, people still need to be reminded about their greed when trading because while trading most persons try to get mixed feelings of wanting to take a high percent forgetting that the market is highly volatile. So for me the needs to always remind people to be less greedy while trading cannot be overemphasized.
I understand trading requires patience and a good trading strategy for which, if well applied can make beginners get more profit which in turn will reduce their level of greed. However, Human errors are bound to happen and this is mostly at the beginning stage, but can be corrected at the long run.
2. Greed
It is very important that we avoid being like this or having it. If words like 2% per month profit is okay, then we will say that it is not possible. I want 100% per week; these are just examples. Especially when we see someone who takes a profit of 100% per week, that's okay; it's just that the risk is too high. And it doesn't always happen like that; as long as our goal is "sustainability," we don't just rely on luck or maybe get lucky. Of course, we don't just want luck; instead, we want to have a monthly profit or passive income.
It is very important that we avoid being like this or having it. If words like 2% per month profit is okay, then we will say that it is not possible. I want 100% per week; these are just examples. Especially when we see someone who takes a profit of 100% per week, that's okay; it's just that the risk is too high. And it doesn't always happen like that; as long as our goal is "sustainability," we don't just rely on luck or maybe get lucky. Of course, we don't just want luck; instead, we want to have a monthly profit or passive income.
You mentioned greed, and you are talking about something different. However, greed is what is affecting many traders. Let me tell you one thing: some traders like competition, which is why most of them keep losing. Once they see one of their colleagues making it from the market, they try harder to get the same thing, and the strategy and knowledge are not the same thing. The risk is too high, and not all of them have the knowledge to manage the risk. Some of them cannot control their emotions, while others' greed is what pushes them to enter the market.
So as you said, it is unfortunate and it is hard to see traders making 100% profit every week in trading. Whatever kind of knowledge and strategy you use, you must lose, which is natural in trading. Professional traders also lose in trading, so it is common that people lose in trading, but the problem with some traders is that the result of losing is too much. However, in trading, I dont think it is luck if trader makes a profit. I think it is his knowledge that helped me to get that.
No matter how many discussions talk about "common trading mistakes" this still won't change everyone. Because what I observed is the more we talk about this, the more newbies fall into committing mistakes. Honestly, it is difficult to change someone who already fell in love with money because even if they know greediness is wrong still it lives in their mind. And no matter how many times they suffer losses, that won't change their behavior. Maybe, just maybe, if they stay cool this time but can't ensure they remain cool for a long time.
We fail trading, not because of the lack of knowledge but it is due to our wrong actions and approaches.
Talking about greed all of the time doesn't mean people will no longer fall for it, of course people must fall except there are no trades anymore but in as much as trades are made a portion of traders must fall into trade victims of greed. Everyone must not win their trades, an error must set in either by an act of greed or something else otherwise we won't have course to be treating the discussion all of the time.We fail trading, not because of the lack of knowledge but it is due to our wrong actions and approaches.
Humans we are wired to seek for more after initial target has been attained and that insatiable nature is what create that greed in us while we trade and when a trader lack a conscious control of that innate inclination for more in his trading life you see he keeps making more losses than profits. Even in times he should make profit greed set in to take more and from taking more a collateral loss is incurred. Everyone of us has greed it is how we manage it that matters.
Greed is one factor that many does a mistake. Whether they're traders or investors of meme coins or any hype tokens nowadays if they are greedy and don't take profits, they're likely to miss opportunities of profiting and will miss selling at the right time.
Actually, it doesn't have to be a right time. As long as they have already made some profit and depends on what kind of percentage you've made, then it is for sure possible for you hit your targets as long as they're achievable.
But when you have started to make such high assumptions and targets then that's going to make it hard for you to achieve them and will show how greedy you are.
Actually, it doesn't have to be a right time. As long as they have already made some profit and depends on what kind of percentage you've made, then it is for sure possible for you hit your targets as long as they're achievable.
But when you have started to make such high assumptions and targets then that's going to make it hard for you to achieve them and will show how greedy you are.
True, even I have made such mistakes out of greed and people will be surprised I have lost thousands of dollars in future trading in the past just because I was not taking profit and rather waiting for more profit without SL and as a result I have learn my lesson and it's little bit difficult to manage greed unless we make a strategy which should have a process of taking profits regularly. I have overcome that with great difficulty and now aims for little profit but multiple instances of taking profit instead of waiting for huge and ending up with nothing.
That's where you're doing the right thing and step by step you'll be able to see how effective you are in controlling your emotions.
Not everyone is at their best in managing greed at the start but with experience and time, everything can be learned.
1. Trading money that you can't afford to lose
I have to agree with this and it's good that it's on the number one. It is because many of the traders, new or not have thought that just because you're engaged in trading means taht you're going to profit. And the logical thinking that many of us have is when they invest more money or start with a better capital, they have more edge in the market but little did they know that they can be beaten by itself when they don't know what to do.
So, trade only with specific amounts and start small for the beginners.
And because they experience losses at first, they could either stop or try to recover their losses, and that's when they lose more money in trading.
If they can't afford to lose them all, it's best for them not to get into those type of bonuses and just do trading as is so that they won't have any troubles at all.
As for these exchanges, it's part of how they attract more customers so that's a basic promo that they have in their features.
1. Trading money that you can't afford to lose
I have to agree with this and it's good that it's on the number one. It is because many of the traders, new or not have thought that just because you're engaged in trading means taht you're going to profit. And the logical thinking that many of us have is when they invest more money or start with a better capital, they have more edge in the market but little did they know that they can be beaten by itself when they don't know what to do.
So, trade only with specific amounts and start small for the beginners.
And because they experience losses at first, they could either stop or try to recover their losses, and that's when they lose more money in trading.
1. Trading money that you can't afford to lose
I have to agree with this and it's good that it's on the number one. It is because many of the traders, new or not have thought that just because you're engaged in trading means taht you're going to profit. And the logical thinking that many of us have is when they invest more money or start with a better capital, they have more edge in the market but little did they know that they can be beaten by itself when they don't know what to do.
So, trade only with specific amounts and start small for the beginners.
snip...
Its really sad that people neglect the rude nature of the market and they ignore most of the things by taking them in the list of unnecessary its not about the greed and red candles or black and white candles its about making the decision after understanding the phycology of the market.
We mostly fail because of our wrong decision-making. But there is one reason why it goes like this (failure/mistakes) and that is because we are all not able to carry our emotions well which highly affects our minds and making bad calls. That is why I don't say trading is for everyone nor it was for those who have the desire to do it but it is clearly for those who are willing to understand the situation and change their behavior. In fact, to imagine everything we need to use in trading - analysis, chart, etc are available but still, most of us never succeeded. This is probably because we have emotional problem that triggers everything. Its really sad that people neglect the rude nature of the market and they ignore most of the things by taking them in the list of unnecessary its not about the greed and red candles or black and white candles its about making the decision after understanding the phycology of the market.
After a long time something constructive and natural in this section which is an exception to those of the tips & tricks posts, OP this is a very serious concern people use to lend money and trade with them which is a destroying action, it can put someone in serious financial crisis even if he's stable on the instant. I know some of people personally who started trading with other's money just in greed of making 2x and 3x overnight and in the end having nothing in their hands.
Its really sad that people neglect the rude nature of the market and they ignore most of the things by taking them in the list of unnecessary its not about the greed and red candles or black and white candles its about making the decision after understanding the phycology of the market.
Its really sad that people neglect the rude nature of the market and they ignore most of the things by taking them in the list of unnecessary its not about the greed and red candles or black and white candles its about making the decision after understanding the phycology of the market.
Greed is one factor that many does a mistake. Whether they're traders or investors of meme coins or any hype tokens nowadays if they are greedy and don't take profits, they're likely to miss opportunities of profiting and will miss selling at the right time.
Actually, it doesn't have to be a right time. As long as they have already made some profit and depends on what kind of percentage you've made, then it is for sure possible for you hit your targets as long as they're achievable.
But when you have started to make such high assumptions and targets then that's going to make it hard for you to achieve them and will show how greedy you are.
Actually, it doesn't have to be a right time. As long as they have already made some profit and depends on what kind of percentage you've made, then it is for sure possible for you hit your targets as long as they're achievable.
But when you have started to make such high assumptions and targets then that's going to make it hard for you to achieve them and will show how greedy you are.
True, even I have made such mistakes out of greed and people will be surprised I have lost thousands of dollars in future trading in the past just because I was not taking profit and rather waiting for more profit without SL and as a result I have learn my lesson and it's little bit difficult to manage greed unless we make a strategy which should have a process of taking profits regularly. I have overcome that with great difficulty and now aims for little profit but multiple instances of taking profit instead of waiting for huge and ending up with nothing.
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