Topic: Don't do this mistakes in trading - page 9. (Read 1385 times)

I have to agree with you that most traders especially this period are greedy and that’s shown by the high number of liquidations we see recently. First mistake some traders make is not taking profit from a running a trade because of the greed, Atleast if you don’t want to half your position size you can simply move your stop loss up to lock a trade; it’s a manual strategy some traders do to avoid change of trend.

Another thing you point out is the trading of this shitcoins, memecoins to be precise is a thing of concern. Many people trade this volatile coins with high leverage, it sometimes pays off and most at times doesn’t

trading using money that you cannot afford to lose is a mistake that traders often make. they often think that trading their savings or their only money can make them rich overnight, when what actually happens is that they lose all that money, because their mindset is wrong from the start and they tend to trade using a gambling system. they don't use analysis and the strategies that make them lose all the money they have. and therefore, if you can't afford
 to lose money when trading then don't use it, because why trade if you end up regretting it.

To be on the safer side when you are trading, it is good to use the money that you can afford to lose, so that even when you lose it, it does not mean anything to you, but instead you have learnt something new about the market. It is when you trade with the amount that you cannot afford to lose that ends your capital.

Trading is similar to gambling as it deals with emotion and when to close your trade. If any trader can control his emotion, be satisfied with little profit amd close the trade at the right time, the risk in trading will be limited. Don't allow greed get all over you, because it leads to great loss.

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.

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.

Some people don't understand that trading is so risky activities that they are participating and they always think that they can play around since for what they know its easy for them to earn since trading is buy high and sale low so its better if they buy all the money they have so that they can take home a lot of profit. But they encounter a hard slap of reality where they lose everything they have and doubt for what they have done so to avoid this scenario they must think about what they wanna achieve on trading and always use the amount they can afford to lose so they can avoid to get depressed if they lose on the trades they made.


Usually this occur when they are trading some coin and a pump is ongoing then they want for more profit that's why those people decide to hold more but caught up with correction and instead they earn they are experiencing of heavy decline of that assets they are trading. To avoid such scenario then we should act according what can give us more ideal look and always secure the profit we get and step out of thinking to be more greedy since this can cause us to lose our hard earned money which we use as capital on our trades.

Traders should also avoid emotional trading. It has a huge impact on the decision of the trader.  One should be calm and not overly hyped or negatively depressed when trading.  Here is the important key points why traders must control their emotion when trading.


This is explained in this article.  It also give guide on how to control one's emotion.

people become greedy when they see opportunities for greater profits. it usually happens to traders and I think almost all traders have experienced a situation like that.
even though in trading we make plans for the profits we get. but when we saw better growth potential, we changed our initial plans. and that can be good or bad. It's like you are risking profits that are already in your hands for greater profits.

all trading goals are of course for profit. even though we know we can't be sure whether we can make a profit in our trading or not. especially for those of us who are just starting in trading. Using money that is within our means is the best choice. or we can allocate a certain amount of capital for our trading. and try to remain consistent in not violating the boundaries you have created for yourself.
but I don't know for those who are already professional traders. Moreover, if someone says that they trade daily, I don't know if they allocate a certain amount of money that is not part of their money needs. but I'm sure there are still traders who use money that exceeds their previous allocation in their trading.

Trading money what a trader can afford to lose is right but in trading practice, a more important rule is protection of your trading capital.

You can afford to lose it before you start your trading with actual money but you need to protect your capital. You must avoid to lose your trading capital as without it, you are emptied hands and your trading career ends at that time.

So use stop loss order, stop limit order to defend your capital and minimize risk to lose all of it.

The most reason traders are losing is because of greed. They will make profit but still keep the position opens but later the market might go another direction and they may lose. The second thing is that they can be using high leverage which will be resulting to liquidation. But a trader needs good strategies to make profit than loss while patience and low leverage are important. Also not to be trading shit coins is important.

        -  Hey guys, good day! In this topic, I want to share things that others may already know and others don't yet. And these are the mistakes that bitcoin and crypto traders make in the industry we belong to. Especially when you are just starting this business.

I made these reasons because you know we are stubborn, but here I am now, and I hope you will not imitate me or follow this, especially when you are just starting in this field of crypto trading. And for those who can relate, just give a comment or let's laugh about it. Now we are okay, we know the cruel strategies in bitcoin and crypto trading, and we are making money.
So let's write about the first mistake:

1. Trading money that you can't afford to lose

Often the capital we trade is our only savings; if it doesn't grow, we're done or we're broke, or hopefully it's not what we pay bills for every month like electricity or enrolling in college. Of course, let's never use it in crypto trading. Why? Is it because you will lose? It's not that you will lose, because crypto/bitcoin trading is not just a simple strategy; it's all about emotion, mind tips, and being relaxed, calm, and logical. Because once we put emotions into trading, like, for example, the words "I need to win" or I need this because I need to pay the electricity  bill," there is a big chance that we will lose in trading. Because there is a big chance that greed will hit us here or fear will hit us, these are the things we don't want to happen.

So what we want to happen the most is to follow our strategy in crypto trading. And for this to happen, we must not have an emotional attachment to our capital, especially when we are just starting out and we can lose just one bubble. Not necessarily that you will spend the money, but because we don't want to have an emotional attachment to it. We don't want to be nervous; we don't want to be unable to sleep, as long as we want to relax. Just think that in crypto trading, as some say here, when you chase the money, it will get further away from you, which for me is true. So we should just be real, and it will come to you too. As long as, instead of chasing money or profit, you attract success.

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.

So it's also true what others say: crypto trading is difficult if you don't have another source of income or you only have one source; you should still have at least two sources. Because when, for example, you suddenly make money, that's where the get-rich-quick scheme comes in. We think that maybe my income will grow even more. If I continue to do this, maybe after 2 months my profit will be x10 or more. .  These are just some of the mindsets of people who want to make money quickly. That's why there's really nothing like that in any business industry we go to. Everything has a process, and everything is studied. So stop thinking like a rich quick scheme; this is just a piece of sh*t.

And often, when we have greed, we just gamble, and it's hard like that because we think, "It looks like it's going to go up, so I'll hold first" or "It looks like it's going to go down, and I'm going to sell." That's how we think, right? ?  Sometimes we even say, "I hope it goes down; I hope it goes down, then all of a sudden it will go up," or something like that. So these thoughts are called gambling, or no strategy, no exit strategy, or when to enter the purchase, as in just hoping for luck. So never gamble with crypto trading.

Those are my experienced when I was starting here in this field industry...