Topic: Fast ways to lose money trading - page 2. (Read 1572 times)

That's easy and really a fast way of losing.

Got a short answer for this hahaha! INVEST ON SHITCOINS LOL

Trading randomly is a bad idea its best you pick 5-10 coins you know really well and trade on instead of jumping from one altcoin to other, personally I only trade on BTC, eth, sxp, and cake.

👉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.

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.

Most people have problems understanding the economy at all which means they have no hope to trade effectively any market, and when you add that the markets are designed to exploit your insecurities and psychological weaknesses many people never get to understand why they lost their money when they do what they have been doing during all their life and gotten success with it, and this is because for the most part your feelings are being exploited by the market, whenever you feel the urge to sell your coins that is what the market wants you to feel so you sell your coins for a loss, this happened in March of 2020 and now we are seeing the devastating results for those that did so and refused to get back in the market.

Your opinion is good i agree with it. But i don't agreed with your first chosen. I think a trader need every day trade with profit or loss. High or big amount but need trade every day.

I think a trader need every day trade with profit or loss. High or big amount but need trade every day.

I believe that as long as you stay patient and you end up grinding your way to top, you have very little challenge ahead of you if you can wait around. I am not saying that is the case for everything, all I am saying is that we are in a situation where this is not really as bad as it looks. Definitely people think that losing money on trading is easy because it is common but not all common things are that easy like you imagine.

The reason why it is common, the simple fact that almost everyone in the world is not familiar with making money with money, most of us work to make money and we have our jobs, so an income from our money is unfamiliar territory for us and that is why we end up losing money. Reality is that it is not that difficult, the only problem we have is that we should be learning and studying it, which takes time, if we act very quickly we will lose, but if we take our time and learn that means we could profit.

Another fast way is don't use stop-loss in the trading and follow other investments without study the projects or price trend. I hate the financial advice on telegram, everyone try to promote their cryptocurrencies and in the 90% of cases they are scam or without a strong project/community behind!

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.

You don't need to trade every now and then. Look for trading opportunities that offer you the potential to make a quick profit. If day trading suits your own personality, you day trade, if swing suits you, you swing trade, etc.

You can pick coins that have high volatility and high liquidity. If you’re not day trading, try to pick those coins that have good liquidity and volatility.

Apply the Money Flow Index Indicator on the 5-Minute Chart.
This day trading strategy uses one simple technical indicator, namely the Money Flow Index. This indicator helps to track the activity of the smart money and to gauge when the institutions are buying and selling cryptocurrencies.

Wait for the Money Flow Index to reach the 100 level. An MFI reading of 100 shows the presence of the big Whales stepping into the markets. Buy if MFI = 100 and if the subsequent candle is bullish. Set your stop loss and remember to take profit asap.

Fast ways to lose money on trading?

~Trade without knowledge
~Go with FOMO and FUD
~Being greedy on your position
~No risk management
~Gambler like mind

If you do like to sustain and to survive this market then you should
do the opposite thing.

I looked towards the thread, and most of it is pointed out to newbies which is understandable because they are like baby birds that try to fly. But believe it or not, newbie or not, we all made mistakes. We are all being held back by our emotions when in trading. It is just a matter of how strong the emotion is, and what kind of person are we to handle the situations.