Topic: Fast ways to lose money trading (Read 1542 times)

This is, of course, good advice, I always think that transactions must be made every day, but this is a delusion, if you go into profit and the market is weak, then you need to stop in time, I haven’t spent my deposit until I understand this. Therefore, it is not really necessary to trade every day.

People seem so confident to buy asset when the price is high because they believe the bullish period will continue and they ignore so many risks that may occur in trading. This belief is possible only because the bull market this time has involved so many institutional investor that it has led many trader to believe that price are continuing to rise. But what is happening now is the opposite and the price is gradually going down and there is no certainty that it will recover any time soon.

However, there are still many people who believe that bitcoin still has the potential to grow bigger than what has been achieved now and that it will affect other crypto asset at large and make the market capitalization increase.

Because all they think about is making a big profit in a short time and only seeing the price go up and after making a purchase they expect the price to continue to go up and it turns out the opposite.
as I know the majority of beginners make mistakes like doing something without being based on adequate knowledge and analysis with their goals, and end up losing in a short time.

This is the mistakes by a beginner trading without knowledge. Just entering the market without do your own research will definitely lose your money. It is okay if you converted to bitcoin as long the project you invest is profitable in the long run. Lose money in trading could happen without a plan, lack of knowledge and greed as mentioned above. This is why it is significant to learn and analyze the market this could help even a beginner.

Hey guys, I recently started trading on Binance and I read books, watched videos on fundamental analysis, support and resistance. I try to improve myself on crypto trading and also on psychology aspect of trading. The path of a trader is not as easy as most think. It is quite different lifestyle portrayed on Instagram. You could be a trader for five years and you'd still not have enough knowledge or experience. Maintaining profitability is a tough challenge.

🌟Fast ways to lose money trading;

👉Trade too much - You don't have to enter a trade everyday even if you're a day trader.

Many beginner traders have experienced losing by trading alternative coins, those traders lost their investment very quick because they are lack of knowledge and skills in trading. They didnt research about that specific coin and some are dont know how to read graphs and coin flow prediction. even i experience that also, i ln my first time in trading alt coins im losing my money converted it in bitcoin and bought a specific coin and after a week my investment got lost so fast because i dont know how trade well.

Success is all about planning, it dosent happen in a crashy way so you must have prepared and planned it well. If a trader can join all this tips and use it to make a guide and follow it through, success is sure for such person. Its not easy thats why it will be hard and people might not be able to follow through because of lack of patience and dedication.

Hey guys, I recently started trading on Binance and I read books, watched videos on fundamental analysis, support and resistance. I try to improve myself on crypto trading and also on psychology aspect of trading. The path of a trader is not as easy as most think. It is quite different lifestyle portrayed on Instagram. You could be a trader for five years and you'd still not have enough knowledge or experience. Maintaining profitability is a tough challenge.

🌟Fast ways to lose money trading;

👉Trade too much - You don't have to enter a trade everyday even if you're a day trader.

👉Trade too big - Don't use more than 6% of your capital when trading. Ensure your liquidity is low

👉Trade randomly - Don't trade every coin. Be smart, choose coins you're comfortable with. Don't gamble, always have a plan and follow through on it.

👉Trade based on your emotions - Trading is about 90% psychology. Guard your mind and your heart so you can properly apply your trading plan.

👉Trade based on predictions - Don't trade based on financial advice from someone on telegram or any of the social media platforms. Do your own research.

👉No stop loss: This happened to me once. I lost a chunk of my capital. Stop loss was created for a purpose use it for every one of your trade.

👉Cut winners fast: Don't be greedy!! Collect your profits.

👉Let losing trades run: This would kill you, if a trader is going bad I think it's better to close the position at your stop limit rather than letting it run in hopes it may come back to our favor.

This is actually on point where if you do like to lose money then just simply buy those shit coins.

It is just good when you do make out bet on dice and make some single roll even though odds on making money is different.

Greed is one of the most common reason on why people do really end up on losing money.Making out bad decisions
due to rushing up or impossible or unrealistic motives.

I believe the best way to mitigate emotions is to avoid greed, we can not completely remove emotions but we can bring it down with less greedy trading, To have a large gain is to use experience not greed in trading, when you understand how the market works it becomes clearer and much more easier to win big.

Yes we can't get can't rid of our emotions but we can control them. Fear and greed are both dangerous when trading but you can control them and use as a tool for your benefit.

Fastest way I know how to lose money in trading is to put stop loss in a very very short position, like some people have 1% stop loss built into their system, it could be directly on the exchange, it could be a trading bot, but they do 1% stop loss, which means if the price goes down 1% the yend up selling all of their positions and try to get back in.

That is as bad as it gets and you will end up losing a lot of money if you keep doing it because price changes 1% daily, that is literally the spread we have and price could be 1-2% up or down at any hour of the day, very commonly and very frequently as well, that is why I never really imagined it would be smart for anyone to make this kind of stop loss but people do that, I do not understand why they do it but I understand that people do it and lose money very frequently, specifically on trading bots because that ends up losing a lot of money for them.

Bad decision making following others call and forget to do your research.

You'll ending up losing your money by buying shit coins who seems to have a good spread coming from the pumped group or pay group who do the spread out, there are many people who falls from this scheme ending up regretting because of losing funds as they've been trapped around with project that was been abandoned.

It's a real experience to me and for sure others have experienced this too. It's made due to the hype and FOMO that's being brought by the news and those people who are good in spreading news in the community. They're making everyone look at the moment that it's profitable but later on will make it look like you're profiting at the earliest but if you're too slow then you'll be left behind and you'll lose once the hype is gone.

👉No stop loss: This happened to me once. I lost a chunk of my capital. Stop loss was created for a purpose use it for every one of your trade.

👉Cut winners fast: Don't be greedy!! Collect your profits.

This is actually on point where if you do like to lose money then just simply buy those shit coins.

It is just good when you do make out bet on dice and make some single roll even though odds on making money is different.

Greed is one of the most common reason on why people do really end up on losing money.Making out bad decisions
due to rushing up or impossible or unrealistic motives.