How to Overcome and Handle Your Mistakes in Trading?

Boov

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Quote from: pankaj1234 on October 16, 2020, 09:05:10 PM

Trading is not played on buy and sell chart. It always 24x7 go through in your mind and emotion where we intend to make mistakes. In trading you should not worry about your purchase Coin will pump or dump. After some times you will under what is trading and gain some experienced. That the way you can overcome with your mistakes.

Committing mistakes in trading was inevitable, this mistakes were intend to happen to give us a lesson in life that would save us from much huge lose ahead. And what i get from this thread was a virtue in trading that after all the mistakes you've done get up again and move on. Let this mistakes be your weapon on your next trading venture. But as you move to next trading venture of yours be wise enough, and be extra wise on your decisions.

sambuddha

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Quote from: icekohl on October 17, 2020, 12:48:56 PM

In my opinion the easiest way is to follow your trading system and strategy strictly. Then take profit and stop loss orders will work for you, making sure to minimize your mistakes as much as possible. Reading too many analytics as well as the trading system will only increase your mistakes.

Yes, a good trading system is very important. But this is not enough for success. A key tool most successful traders use is a trading journal. I would recommend a google document spreadsheet. You can edit it anywhere, all the PCs on which that document is open gets updated as well Cool

Tingtong

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https://www.xsl-labs.io

First I learn but it youtube or blog post. When I saw one coin buy is a mistake I don't wait for a huge profit. Every time I want to trade so sell this coin and invest another coin for overcoming losses.

gwdf1

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Quote from: pankaj1234 on October 16, 2020, 09:05:10 PM

Trading is not played on buy and sell chart. It always 24x7 go through in your mind and emotion where we intend to make mistakes. In trading you should not worry about your purchase Coin will pump or dump. After some times you will under what is trading and gain some experienced. That the way you can overcome with your mistakes.

True — suppose, those, who are deep in crypto trading feel it. Once you start, you cannot stop thinking about everything that is connected with the crypto world. Yes, mistakes happen, and always. However, avoiding many of them is possible — simply learn more about crypto, and do it regularly.

wiss19

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You can't just let all those bad feelings get to you, if your brain and your emotions ever get mixed up, that means you are going to react with emotions and feelings and you are going to lose even more money, that is not really healthy for your money at all.

What you should do is, trade, and if you lose, learn from that loss and move on like it never happened with only the knowledge of how that would never happen to you and nothing else, by the next trade you should not do the same mistake and that's it, do not look at the next trade like a trade to get revenge on the last loss you made, because if you chase that loss over and over again, you will keep seeing buying opportunities in places that doesn't exist, which would make you lose even bigger than the first loss.

Majharul Saiif

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BountyMarketCap

There is no possibility to extricate what has emerged. Realizing where mistakes have been created and overseeing the following trading. This comes across to be a useful direction to overwhelm by acquiring from reiterated mistakes and trading the future with vigilance.

icekohl

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In my opinion the easiest way is to follow your trading system and strategy strictly. Then take profit and stop loss orders will work for you, making sure to minimize your mistakes as much as possible. Reading too many analytics as well as the trading system will only increase your mistakes.

militiariko

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Activity: 297

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Life is beautiful !

For me, i think the easiest way to handle mistakes in trading is ensuring you follow the due steps:

1. Identify the mistakes, identify the situation that led to the mistakes too.
2. Find a lasting solution to the mistake; even if it means re addressing and taking a chance at a new strategy.
3. Keep practicing until you find the mistakes no more.

Dorodha

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It is wise to move forward with learning from mistakes many people leave the market when they make a mistake. We have to try to improve without giving up trade. There will be risks while trading if there is a loss I will be able to learn something new and be able to move forward. The market will not stabilize and the pump will dump so try to learn something new by following the trading charts.

pankaj1234

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Trading is not played on buy and sell chart. It always 24x7 go through in your mind and emotion where we intend to make mistakes. In trading you should not worry about your purchase Coin will pump or dump. After some times you will under what is trading and gain some experienced. That the way you can overcome with your mistakes.

goldade

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The Standard Protocol - Solving Inflation

Quote from: Kez1817 on June 28, 2020, 10:36:49 AM

Mistakes is inevitable and impossible to avoid but you can use it as motivation to manage it properly especially in investing and doing trade. Most of us specially a newbie sometimes do a mistakes in the beginning and later on they are going to quit because they can't handle it properly.
How to overcome and handle your mistakes?
Trading is not an easy money making job without any fear of losing and wrong trading.
Learn from your mistake- Use it to step forward and don't stack to it.
Focus on your mistakes- If you're worried about your mistakes,what will you do to avoid it?Focus on what you've done and you'll be taking a
   productive action.
Risk Management- A trader must be a risk taker and with positive mindset.But a trader might be so highly focused on making profit and they don't
   realize that they might lose also. Always accept your loses and learn to avoid it next time.
Trading Education- If you learn a basic of trading and develop a reliable trader skills,you will not afraid of having mistakes,instead it will be a lesson
   for you to improve and to develop another trading strategy to earn profit and avoid loses.
In trading or investing,you should have an ability to convert your mistakes into learning and development in order to become a successful trader and investor in crypto space.

Additional(EDIT): Those who have experience on how you become successful in trading after some mistakes ,kindly tell your story here so that those who can read will be encourage and learn from different experience and could gain knowledge that they can be use also or apply on their life as a trader.Thankyou

You've actually answered the questions already. The ways listed above are practically the only way for one to overcome and handle mistakes.
I however do think there is a another factor one needs to consider in overcoming mistakes or handling them and that is the emotional or psychological factor.
Many people make mistakes in trading largely due to the fact that they can't control their emotions. They are moved by anxiety, fear of missing out and greed such that they make losses in their trades.
This happens especially to newbies. Once they can keep their emotions in control, they'll be able to make successful trades.

Fatunad

sr. member

Activity: 2226

Merit: 347

Quote from: Gaston Cavalier on October 16, 2020, 01:51:24 AM

anybody here been trading for more than a decade?

For sure there are specially on stocks and forex trading where you can find people who had been done trading for a decade and still doing such stuff even upto this recent.
Why they do able to sustain? because they do make themselves profitable in the end of the day.People cant just last that long if they arent that good on what theyve been
doing.Sounds simple but this isnt for everybody. Mistakes are inevitable thats why instead on getting afraid with it then better to overcome and learn from it and on
this way you would surely make yourself as a better trader.Handling out your mistakes well and lessening up as minimal as possible will be the best way.

chikading2016

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Activity: 949

Merit: 48

Trading is not easy we can also loss funds on doing it and sometimes our mistakes on trading will lead us through frustration. That is why we need to be temperate and moderatien if we want to earn on trading, but we cannot avoid mistakes that is why we need to trade an amount that we can aford to loss.

Gaston Cavalier

newbie

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anybody here been trading for more than a decade?

palle11

sr. member

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Quote from: Andronadar on July 23, 2020, 10:24:56 AM

but they make us stronger

If we can learn and correct the mistake. Some people don't understand that they have made mistake so they will keep going through the mistaken road because they don't know it as mistake. Again too people can be stubborn not to learn from a better person because of their pride. Pride is a big downfall sign.

ice098

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Quote from: Janation on July 25, 2020, 05:48:09 AM

Quote from: SacriFries11 on July 25, 2020, 05:05:42 AM

As you progress throughout your journey in trading you will know that you made a lot of mistakes. You can’t make improvements if you made the same mistake all over again. You must know how to minimize these risks and focus to strategies that have high potential win. Learn every single day, some people don’t develop themselves and become lazy. It’s the main reason why people quits and easily give up.

That is just right.

As a beginner, I had a lot of mistakes that even led me to think of stopping trading and even investing but that also led me to think that it might just be an obstacle I should cross. It made me think of reading some articles that can help me and learned from my mistakes all the way through.

As what we always says about trading, it isn't as easy as what we expect, and as expected yes losing your investment, afraid of taking risk and afraid of losing will always be there. Losing is inevitable and as time as you trade by yourself you may sometimes ask yourself if is it gonna work out according to my will or im gonna lose this game. But each time you trade by your own, maybe a lot of mistakes that can be done but those mistakes of your will give you a greatest lesson that you could ever used in your further trading.

pankowri

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Activity: 728

Merit: 63

$CYBERCASH METAVERSE

Quote from: dunfida on June 28, 2020, 03:02:45 PM

Learn from your mistakes!

You would discover anything if you do learn up from your mistake. It would able for you to realize what are the efficient things t t would be needed in your trading career. Of course, mistakes are inevitable since no one does start from being pro that's why
it's just normal. It would just depend on how people would deal up with things and how they do discipline out themselves on what they are doing.

We should indeed acquire from our mistakes. In the onslaught, no one is accurate in anything. You have to reap perfect deliberately. It is usual to be mistaken but t is not usual to be mistaken. Subsequently an extent, conceivably the knack in trading will come, then it will not be mistaken.
In abundant cases, it is not conceivable to rectify a mistake made during trading. But we have to memorize from this mistake and be careful in the next trading.

Mahanton

hero member

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Quote from: spike420211 on July 25, 2020, 03:13:11 PM

Quote from: Janation on July 25, 2020, 05:48:09 AM

As a beginner, I had a lot of mistakes that even led me to think of stopping trading and even investing but that also led me to think that it might just be an obstacle I should cross. It made me think of reading some articles that can help me and learned from my mistakes all the way through.

If you treat mistakes as obstacles that you need to overcome - you will develop and treat such obstacles as challenges, and not as problems, this is the key to success.
Many are simply not able to cope with obstacles on a regular basis, we always try to stay in our comfort zone and reduce the influence of any external stimuli on us as much as possible.

In any case, this is a skill, and any skill can be developed by any person, the only question is the time spent and desire.

People do fail on this one and majority do really easily give up without even trying to cope up or do learn from those mistakes and they do see it as a big problem and do surrender or give up on that easy.
Overcoming problems and hardship is never been simple yet it do really require extreme discipline and mindset.Sometimes people dont learn on to their mistakes when they do just ignore and completely
stop midway.For people who do persevere to learn will most likely to succeed into this industry.Trying to patch things up basing on what they do experience and gain along the way.

KrisAlex18

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Merit: 160

Having mistakes and experiencing failures are the sometimes the best way on how you can be able to learn things out. The same principle I always use whenever I trade. The experience I got from the trading I have has always been my motivation to improve myself up and such mistakes are failure are treated to be a positive one which is simply transforming negative thoughts into something positive or most likely doing it optimistically.

Mistakes for me in trading is just a normal scenario for there is no perfect trading since we are working in a volatile market. What I just do to overcome and handle it is for me to study what mistake I have done and try to make another try if things will work out after I corrected my mistake. Although it seems to be heartbreaking sometimes creating mistakes, I just treat it a ground for improvement and do betterment on my next trading. Thinking it negatively will not help in anyway so I just transform the thought into something useful which is learn from the mistake I have done and try to recreate it on a corrected manner. Educating oneself is the best key to somehow lessen the chance of creating mistakes on doing trades.

azmirihaque

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Merit: 16

Trading experience is very much important for overcoming mistakes. Trading experience can be gained from two ways. The first is to follow, study and learn from experience traders. Study the mistakes of the traders and learn how they manage it. The second is to learn from your own mistakes. It is the best experience for trading. When you will face loss, you will automatically know why you have faced lose and what should do in the future to overcome it.

Topic: How to Overcome and Handle Your Mistakes in Trading? (Read 1347 times)