Topic: Fast ways to lose money trading - page 9. (Read 1542 times)

This is one of the best logic right here. I know they look very obvious, I know that if you are a newbie even you think you know what this post is talking about, but believe me there are so many people who have ended up doing a trade out of emotion and broke at least one of the rules. My biggest mistake has always been using more than 6% for example, I try to keep myself within 5% for each of my trade, and each time I did any of it, I ended up using as much as 40% for some of my trades.

To give you the worst example, I once bought Nano with about half of my coins, nearly at least, and that crashed HARD, I have lost almost all my investment during that period, thankfully I am better right now but that sucked for a while. Long story short, write these down, and when you are trading, check them out one by one before you make any trade like you are a robot and leave all emotions aside.

I haven't found much useful information here. If we notice, most beginner losing their funds on the trading so quickly. The main reason for losing funds is the lack of trading experience. It's not really easy to earn from the trading, but a beginner thinks just they could earn easily from the trading. They don't have enough patience to determine what they should do. Your points aren't pretty clear to realize exactly what you want to explain. Just keep in mind, you have to learn before you earn. Don't be greedy, that would be lead to a loss.

Crypto trading it not an easy task, creating a new strategy involve spending hours, even experienced traders learn everyday and thats why i will never advice people dive into day trading. Besides, it a boredom in my view and thats why i prefer taking advantage of the market trend.

This is the reason why some people compare it with gambling.
Spending much time on trading usually lead to making decisions emotional but invest more than 6% is still good if the coin invested in was a reputable coin.


Randomly trading or investment is not a good option because good portifolio management knowledge it required.

I agreed with this option and thats the reason why i dont support copy trading.

why bother my friend, a simple way to quickly lose your money when trading is, you transfer your assets to me all without any guarantee.
done

not that easy hehehe
Instead of many things being demanded, they are not more confident, they are even more afraid of losing.



come on don't make me laugh out loud

The fastest way to lost your money in trading is go to future trading without analyzing the market and do trade without experience how to read where the market will go, and then sleep well and  in the next day it may wipeout your balance. Other newbie mistake is they are looking for newly listed coins in popular exchange  to buy which is the reason why most of them lost .because they don't have idea how much is the real price of that coins and buy it bpindly in the first day so they bought it at high price then in the next days they lost almost 90% of their money .

I think everything you listed can be summarized into the list I have below. There are three important factors that you should be considering when trading.

• Making sure you are Risk Managing - Trade limits, Stop losses per trade, How much you are going to risk, etc.
• Be Emotionless - Don't get affected by your positions. Never act emotionally
• Aim for the long run

Trading is a marathon. It's aiming to be alive and kicking in the long run and having continuous profits. As long as you are profiting, whether small or big, be happy and stay above water. Never risk too much. Have a trading plan and take advantage of compounding interest.

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.

Maybe almost everyone also experiences this fraud, because from that we are required to be careful and be more vigilant so as not to repeat the same mistakes in the future.

I think that even though we use trading bots, it is not guaranteed that we can continue to generate profits, because a system will always have a gap to experience errors.

Of course this will also not be good for our trading, because on the other hand, when experiencing a loss by using the trading bot, it will not be easy for us to evaluate why it is a loss.

~Greed
~Emotional
~Impulsive and gambler type
~Lack of knowledge
~Blind trades
~Loves to follow fud and fomo

Even though these traits are common but with due experience in a matter of time.You will able to control
and make it lesser as days goes by.

It's surprising to see people still fall prey for these scams. Who can blame them really, it's easier to get scammed than actually doing the work. Also the  scammers have up their game. They sell trading bots now... promising unrealistic profits.

There are quite a lot of fake trading 'experts' who create trading channels to sell signals to traders, or people who impersonate to be big time crypto traders and Investors who send people friend requests on social media and straight-away PM's different people with one trading advice, signal or investment of some sorts, they are all scammers. This warning has been 'sang' out repeatedly, if you want to trade, learn how to trade, copy trading or just basically following any signal you got/paid for is not the right way to go, and you'll not be successful in the long run.

P.S. Op your post is about trading, move it to trading discussion board.

Mostly likely scam accounts. And the luxury cars and houses gets to newbie and appeals to one's greed.

Another fast way to lose money quickly is to follow these "instagram traders" hehehe.
Who are these people anyway? Are they selling any trading guides or do they lure in newbies with "how I made easy money on trading crypto" blogs or videos with pictures of luxury cars or house? A trader worth his salt doesn't need to go public AND sell aggressively. Let's remember that.

Sit back and think very well, if there is a way to extract emotion from a human being it means the human won't have feelings anymore, isn't that what robots don't have? It means that person is dead, my point is we can't get rid of emotions, it's a sign of been alive, too much of everything is where things can go wrong

Trading too much will create a kind of poor mindset that can expose traders to high risk.

Trading better coins will be the best, number one of them is bitcoin. Some coins are just not good while may coins are shitcoins, shitcoins that people will trade but keep losing.

This depends, and also depending on the analyses. If it is spot trading, there are may times there will be correction, and after the correction is bullrun again. Stop loss can help but it has its own downside too.

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.