Few Tips I learnt from trading that blew my account.

jossiel

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Quote from: rojan on April 23, 2022, 12:30:03 PM

Newcomers here are newcomers so the most important part of their income is that they need to be updated and have the courage to try from here but the most important thing in the market is always optimistic to understand that there is a risk to add here and it is very difficult to talk to those who become profiteers and They are always at risk

There's always risk in the market.

Holders and traders do experience it.

And for you to understand that you should do it is that you need to be not greedy. Once you start thinking of it and you're being outsmarted by the market.

It is what's going to be the main catalyst of your trading adventure. And if you can't do it, you should just look for a better way to make money in the crypto market aside from trading.

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Quote from: ?? on ??

This is a fairly convenient manual, first of all - for a beginner. I think many people should read this to understand their vulnerabilities.

.

Newcomers here are newcomers so the most important part of their income is that they need to be updated and have the courage to try from here but the most important thing in the market is always optimistic to understand that there is a risk to add here and it is very difficult to talk to those who become profiteers and They are always at risk

Silberman

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Quote from: lienfaye on April 10, 2022, 11:28:16 PM

I agree. Everyone can be a trader but not everyone can profit and succeed, thats why some traders decided to be a hodler because its less risky. Im an active day trader before, but I find it hard and stressful, it also requires lots of time to monitor the market. Hence I switched to being a hodler, although it takes patience in order to profit, but its worth it if the bull market occur especially if you're holding a well-established coins that has a huge increase.

This is without a doubt something key, most people that enter the markets never stop to think if what they are trying to do is something that goes well with their personality or their current lifestyle, they are just interested in the money and nothing more, however by not taking into account their own circumstances then they are just making their failure even more likely, so when we take this into account the majority of the people simply do not have the right conditions to become traders and should become holders instead, which unfortunately is something they discover way too late.

barbara44

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Quote from: nur rochid on April 13, 2022, 02:03:46 AM

basically psychology becomes the most important in determining trading success. there will be many problems that will be faced or a problem that we repeat ourselves because we often make the same mistakes. that is why our mindset and our mentality are of utmost importance, because even with great strategies that may be the same as those used by famous people, but if our mentality is still problematic then it will be useless. therefore creating a framework and running it according to plan is the first step to forming trading intuition

If you are trading with emotions and think that you could do better than others based on your gut feelings then you will lose a lot. You are right that people make the same mistakes because we repeat ourselves, and that should be something to be careful about.

If we could realize the fact that market doesn't care about us, and the market doesn't go up and down based on whatever we do, then we will realize how cold and ruthless it could become. If you use that to your advantage and leave all of your emotions aside and start making a profit based on what you see and how market moves instead of what you "feel" it will do, you will start earning a lot.

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Quote from: AicecreaME on April 14, 2022, 09:14:07 AM

Quote from: Pejoh Asu on April 14, 2022, 02:38:04 AM

Quote from: ?? on ??

This is a fairly convenient manual, first of all - for a beginner. I think many people should read this to understand their vulnerabilities.

.

The most important thing when you are a newbie is to continue to upgrade your knowledge and be brave to try, but since we are into crypto the most important thing is to understand that there is a significant price risk, always be optimistic and don't be greedy when you see profit will make us able to profit and become proficient one day .

This is very true.

The mistakes I've made when I was starting trading is being greedy, not making any technical analysis, and not setting stop loss and take profits even though I don't watch my trade 24/7 because I'm doing a lot of things. However, realization will come up naturally after you spent a lot of time and money in trading. You will eventually get the knowledge you want to at least make profits most of the time. It's all about patient, and continuous learning while risking your money.

It's a natural thing experienced by every beginner, I have personally experienced it even though until now consistent profits have not been achieved, but knowledge and experience are the best assets to start this business. many people can't stand psychologically, so after experiencing losses, they are traumatized by cryptocurrency, this is where we can take lessons by asking ourselves, where are we going, so that over time good discipline and psychology will be formed

AicecreaME

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Quote from: Pejoh Asu on April 14, 2022, 02:38:04 AM

Quote from: ?? on ??

This is a fairly convenient manual, first of all - for a beginner. I think many people should read this to understand their vulnerabilities.

.

The most important thing when you are a newbie is to continue to upgrade your knowledge and be brave to try, but since we are into crypto the most important thing is to understand that there is a significant price risk, always be optimistic and don't be greedy when you see profit will make us able to profit and become proficient one day .

This is very true.

The mistakes I've made when I was starting trading is being greedy, not making any technical analysis, and not setting stop loss and take profits even though I don't watch my trade 24/7 because I'm doing a lot of things. However, realization will come up naturally after you spent a lot of time and money in trading. You will eventually get the knowledge you want to at least make profits most of the time. It's all about patient, and continuous learning while risking your money.

Pejoh Asu

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Quote from: ?? on ??

This is a fairly convenient manual, first of all - for a beginner. I think many people should read this to understand their vulnerabilities.

.

The most important thing when you are a newbie is to continue to upgrade your knowledge and be brave to try, but since we are into crypto the most important thing is to understand that there is a significant price risk, always be optimistic and don't be greedy when you see profit will make us able to profit and become proficient one day .

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Quote from: ?? on ??

This is a fairly convenient manual, first of all - for a beginner. I think many people should read this to understand their vulnerabilities.

Understand the basics
Dont get yourself impulsive
Dont easily believe with shills and fuds
Decide for your own analysis
Dont be greedy
Be good on handling your capital or simply risk management.

Although learning up these things would require for you to lose some of your investment on which you could
really gain up experience from that one.

nur rochid

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Quote from: Xxmodded on April 12, 2022, 01:54:13 AM

Quote from: Franctoshi on March 28, 2022, 02:51:05 PM

These are few challenges faced when I newly got into trading, which I think I should share so people who are new traders should know.
[2]. Always be patient with your trading set ups:
Sometime it takes you up to a week or more for a trading set ups to get complete before executing a trade.
Secondly, sometimes it's good to wait for your stop lose and take profits to get triggered and don't close them yourself out of fear.

This point most important on trading bitcoin or altcoin, some time have trader not patient waiting with price drastically drop for buy back several altcoin, they not really understand with risk when keep buy altcoin on higher price actually after reaching all time high price. Last week my friend not patient waiting with Zil coin price drop to buy and keep try buy on higher price about $0.2 and now price drastically drop until $0.1 and almost loss 50% and keep holding until now.

basically psychology becomes the most important in determining trading success. there will be many problems that will be faced or a problem that we repeat ourselves because we often make the same mistakes. that is why our mindset and our mentality are of utmost importance, because even with great strategies that may be the same as those used by famous people, but if our mentality is still problematic then it will be useless. therefore creating a framework and running it according to plan is the first step to forming trading intuition

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Quote from: Xxmodded on April 12, 2022, 01:54:13 AM

Quote from: Franctoshi on March 28, 2022, 02:51:05 PM

These are few challenges faced when I newly got into trading, which I think I should share so people who are new traders should know.
[2]. Always be patient with your trading set ups:
Sometime it takes you up to a week or more for a trading set ups to get complete before executing a trade.
Secondly, sometimes it's good to wait for your stop lose and take profits to get triggered and don't close them yourself out of fear.

This point most important on trading bitcoin or altcoin, some time have trader not patient waiting with price drastically drop for buy back several altcoin, they not really understand with risk when keep buy altcoin on higher price actually after reaching all time high price. Last week my friend not patient waiting with Zil coin price drop to buy and keep try buy on higher price about $0.2 and now price drastically drop until $0.1 and almost loss 50% and keep holding until now.

In trading in crypto as a trader, you must know the right moment to buy or sell,
in this case I think as a trader it is also very important to have skills in analyzing the market,
at least it will help in making decisions and can also minimize the risk

Xxmodded

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Quote from: Franctoshi on March 28, 2022, 02:51:05 PM

These are few challenges faced when I newly got into trading, which I think I should share so people who are new traders should know.
[2]. Always be patient with your trading set ups:
Sometime it takes you up to a week or more for a trading set ups to get complete before executing a trade.
Secondly, sometimes it's good to wait for your stop lose and take profits to get triggered and don't close them yourself out of fear.

This point most important on trading bitcoin or altcoin, some time have trader not patient waiting with price drastically drop for buy back several altcoin, they not really understand with risk when keep buy altcoin on higher price actually after reaching all time high price. Last week my friend not patient waiting with Zil coin price drop to buy and keep try buy on higher price about $0.2 and now price drastically drop until $0.1 and almost loss 50% and keep holding until now.

Smartprofit

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Quote from: Franctoshi on March 28, 2022, 02:51:05 PM

These are few challenges faced when I newly got into trading, which I think I should share so people who are new traders should know.

[1].Don't Chase the market:
There is always a next opportunity in the market,
If you miss this opportunity wait for next one.

[2]. Always be patient with your trading set ups:
Sometime it takes you up to a week or more for a trading set ups to get complete before executing a trade.
Secondly, sometimes it's good to wait for your stop lose and take profits to get triggered and don't close them yourself out of fear.

[3].Don't predict the market ,react to current market situation.
This is what that cost me blew a lot of my trading capital. Always wait for trend direction and follow the trend , As they say... trend is your friend until it's finished.

[4].Don't outsmart the market :
market does whatever thing it wants to do, so don't be too smart wait for confirmation.

[5]. Don't be greedy:The master of it all.
Greediness can reap you off all your profits already gained from the market when you're trying to gain it all. Be comtempted with the profit you've got and have plans for profits taking.
This is one the biggest challenge I faced during my early time of trading and even now but it's reduced and controled.

Yes, these are good principles of profitable trading.

New opportunities are constantly appearing on the market. The problem is to see these opportunities in time. In trading, you need to make a profit not only in terms of US dollars, but also in terms of bitcoin. Otherwise, trading makes no sense. You can just hold bitcoin.

It is also very important to keep your emotions (greed, fear) under control. Emotions are very dangerous for any trader and can nullify his deposit.

It is important to understand that the market is always smarter than you. It generates scenarios that you can't even imagine.

lienfaye

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Quote from: palle11 on April 10, 2022, 12:00:22 PM

Quote from: hyudien on April 10, 2022, 11:21:11 AM

Quote from: palle11 on April 10, 2022, 10:34:33 AM

But trading generates income faster than just hodling a coin in your wallet.

Trading futures and long term holders, all with agreed risk. But for the holder, we can only sleep more comfortably when there is a temporary decrease or temporary increase. Of course trading generates passive profits, but it is not always profitable. As for the Holder once taking profit, it clearly outweighs the gain from trading (especially in bitcoin).

It is clear that trading is more risky and that is not disputed. Again the profit in trading is just for few, not every trader profit but every hodler will get back the hodling with time if the bull resume. I have hodl a coin to a point it diminished because of decrease in price but by the time the bull resume then the coin got back to profit that is the point I'm saying.

I agree. Everyone can be a trader but not everyone can profit and succeed, thats why some traders decided to be a hodler because its less risky. Im an active day trader before, but I find it hard and stressful, it also requires lots of time to monitor the market. Hence I switched to being a hodler, although it takes patience in order to profit, but its worth it if the bull market occur especially if you're holding a well-established coins that has a huge increase.

Silberman

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Quote from: palle11 on April 10, 2022, 10:34:33 AM

Quote from: hyudien on April 09, 2022, 05:03:13 PM

Decided to be a Holder and educate me as much as possible to control my emotions. Until gradually it turns out that the holder is more mentally educating us to continue to think positively.

Hodling of coins is not the same with trading and so the emotions involved are not the same thing. A trader should have a very good emotional intelligence and balance not to be overtaken by the speed of the market but hodling is to effortlessly witness your coin rise or it falls whichever is the case. But trading generates income faster than just hodling a coin in your wallet.

One of the main differences between a trader and an investor has to do with their frames of reference, an investor is thinking in terms of years or even decades, which means that when the price of an investment they made begins to go down they will keep holding their coins as they trust in the fundamentals of the asset and not on the short term fluctuations they see in the market, but a trader cannot afford to do something like this and instead they need to sell under those circumstances, and even if the profits a trader can get are better it is way more difficult to become proficient at it, which is why many people prefer to become investors instead.

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Quote from: palle11 on April 10, 2022, 10:34:33 AM

Quote from: hyudien on April 09, 2022, 05:03:13 PM

Decided to be a Holder and educate me as much as possible to control my emotions. Until gradually it turns out that the holder is more mentally educating us to continue to think positively.

Hodling of coins is not the same with trading and so the emotions involved are not the same thing. A trader should have a very good emotional intelligence and balance not to be overtaken by the speed of the market but hodling is to effortlessly witness your coin rise or it falls whichever is the case. But trading generates income faster than just hodling a coin in your wallet.

Well since hodling is counted as investing in my opinion so we should know about the project that we want to invest but in trading, we should know much before entering the market because when you see the market you will confuse in the first look that's why education is needed. Trading will generate income faster if we are always in profit but if we're in losses then there's no income for you

palle11

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Quote from: hyudien on April 10, 2022, 11:21:11 AM

Quote from: palle11 on April 10, 2022, 10:34:33 AM

But trading generates income faster than just hodling a coin in your wallet.

Trading futures and long term holders, all with agreed risk. But for the holder, we can only sleep more comfortably when there is a temporary decrease or temporary increase. Of course trading generates passive profits, but it is not always profitable. As for the Holder once taking profit, it clearly outweighs the gain from trading (especially in bitcoin).

It is clear that trading is more risky and that is not disputed. Again the profit in trading is just for few, not every trader profit but every hodler will get back the hodling with time if the bull resume. I have hodl a coin to a point it diminished because of decrease in price but by the time the bull resume then the coin got back to profit that is the point I'm saying.

hyudien

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Quote from: palle11 on April 10, 2022, 10:34:33 AM

But trading generates income faster than just hodling a coin in your wallet.

Trading futures and long term holders, all with agreed risk. But for the holder, we can only sleep more comfortably when there is a temporary decrease or temporary increase. Of course trading generates passive profits, but it is not always profitable. As for the Holder once taking profit, it clearly outweighs the gain from trading (especially in bitcoin).

palle11

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Quote from: hyudien on April 09, 2022, 05:03:13 PM

Decided to be a Holder and educate me as much as possible to control my emotions. Until gradually it turns out that the holder is more mentally educating us to continue to think positively.

Hodling of coins is not the same with trading and so the emotions involved are not the same thing. A trader should have a very good emotional intelligence and balance not to be overtaken by the speed of the market but hodling is to effortlessly witness your coin rise or it falls whichever is the case. But trading generates income faster than just hodling a coin in your wallet.

hyudien

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Quote from: LUCKMCFLY on April 09, 2022, 04:26:31 PM

What killed me about trading when I was starting out was the lack of patience, sometimes waiting a long time made me desperate, just seeing that the movement I wanted to happen did not happen, sometimes it made me leave the market no matter what. in loss and then after hours if it happened, this caused me frustration, then I tried to do scalping and it was like something worse, because for scalping what is needed is to have a lot of balance so that in the movements that are made in favor you see the benefits, otherwise there is very little that can be won, the bad thing is that if the movement goes against you, you would lose a lot of money and quickly.

Plus, when you make a purchase the price goes down, and vice versa when you make a sale the price goes up. That's what keeps me from being in the market every day. Turned away from the Chart movement, Decided to be a Holder and educate me as much as possible to control my emotions. Until gradually it turns out that the holder is more mentally educating us to continue to think positively.

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Quote from: Joshapat on March 30, 2022, 11:48:28 PM

Quote from: Franctoshi on March 28, 2022, 02:51:05 PM

[5]. Don't be greedy:The master of it all.
Greediness can reap you off all your profits already gained from the market when you're trying to gain it all. Be comtempted with the profit you've got and have plans for profits taking.
This is one the biggest challenge I faced during my early time of trading and even now but it's reduced and controled.

True, when we are too greedy for big profits then we will regret it, I often get when trading there is an opportunity to sell when the price skyrockets to thousands of percent, unfortunately I thought that the price would continue to rise but what happened was the opposite, it dropped more than 90% and continued drop so I lost the moment to profit.

Greed may sometimes be useful in some ways, but mostly, when you come to invest, you should never be driven by greed, or simply just learn to control it. Because its part of being a human, so eventually it will always develop no matter what, but as long as you can reduce or control it, then things will be fine. However, when we are in crypto investing, we should always take time to sell when the prices of the coins have increased a lot, that way we will sell in profits, not with losses. Because knowing the market is so volatile, the prices will eventually drop down without us knowing so better sell them when there are good opportunities to sell.

Topic: Few Tips I learnt from trading that blew my account. (Read 594 times)