How to Overcome and Handle Your Mistakes in Trading? - page 4.

semobo

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Quote from: carlfebz2 on July 06, 2020, 03:36:55 PM

Quote from: MCobian on July 06, 2020, 10:10:11 AM

Everyone has made mistakes when trading, and so have I who have made mistakes several times when trading. Fortunately, I was able
to realize and overcome the mistakes I had made, in the end it could generate substantial profits. The mistake that I often do is not have
patience, several times I sell coins too fast. Then I overcome with more patient ways to wait for movement in the market, I will not sell
coins before reaching the target sell.

We cant get rid of mistakes but at least we do able to lessen it up as we do gain experience and learn up something on the process yet we do realize on what are the things should really be done

on a particular situation and since we are just starting up or just new then we arent aware on how it do moves but when we do gain experience then thats the time we do know on how to deal with it.

Mistakes should really be overcome and try to improve as best as you can if you do want to succeed here on crypto trading.

Learning from our mistakes will be really effective on increase our skills so we should have to analyse trade after trades, just regretting will not help at any point.So we should keep tracking our all the trades on a spreadsheet or with tools available for it, so we can be able to find total profits from time to time.

Most exchanges have options to track our trades and also we can export out data in CSV file format so make sure we use all the things effective.

rathaha10

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Learning from ones mistakes is a sure way to improve ones trading skill, i believe everyone has had to do with making mistakes a point in time in their trading adventure, even the expert traders in the market today because it is part of trading journey which can only be avoided by learning from it's past happenings and improving trading skills constantly

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Quote from: whyrqa on July 06, 2020, 06:56:21 AM

Quote from: TheGreatPython on July 05, 2020, 01:06:01 PM

no trader could win on every trade they do make and all the failures while trading should not be considered as mistake but may be accounted as lack of knowledge on technical analysis. I mean when your sound in technical analysis then the chances for making mistakes in trading will be very less. Only the traders who are not experienced in making good signal out of their technical analysis must be facing frequent losses and may consider them as mistakes.

Indisputably frequent losses and failures are the consequences of either limited knowledge or little experience in cryptocurrency trading. But it seems to me that it is not always possible to make such an accurate technical analysis as to constantly have 100% accuracy of the forecast in relation to a particular coin. Even the most professional analysts can make a forecast with an accuracy of no more than 75%. Therefore, it seems to me that it is impossible to always be in the black.

Yes, fail, fail again, fail better, fail until you succeed. you only need to succeed on the last try. And many more sayings like these. The main topic of this is if you are trading and making mistakes, that's fine, if you are making mistakes and not learning anything from it that is a mistake, if you traded and failed and gave up, that is the worst in all of them. You have to realize that you have a power to turn things around and make yourself richer by actually learning how to trade instead of quitting, but of course you need to study your own mistakes very well to avoid doing it again.

It is actually a great advantage to be able to fail early on, because if you fail early on you know that you are learning at the low levels and you will get better when it matters, instead of profiting a ton of money early on but not learning anything so lose them all in the end when you fail for the first time.

carlfebz2

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Quote from: MCobian on July 06, 2020, 10:10:11 AM

Everyone has made mistakes when trading, and so have I who have made mistakes several times when trading. Fortunately, I was able
to realize and overcome the mistakes I had made, in the end it could generate substantial profits. The mistake that I often do is not have
patience, several times I sell coins too fast. Then I overcome with more patient ways to wait for movement in the market, I will not sell
coins before reaching the target sell.

We cant get rid of mistakes but at least we do able to lessen it up as we do gain experience and learn up something on the process yet we do realize on what are the things should really be done

on a particular situation and since we are just starting up or just new then we arent aware on how it do moves but when we do gain experience then thats the time we do know on how to deal with it.

Mistakes should really be overcome and try to improve as best as you can if you do want to succeed here on crypto trading.

coinfinger

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Quote from: Golftech on July 06, 2020, 08:34:52 AM

Adjust and keep trying to make it much better, all traders needs to understand that there's always changing pace that needs to work with, it's not that easy to always win your positions, there's bad days that you need to reassess your mistakes.

Especially with so much volatilities, you need to make sure that you are open with any adjustment. Mistakes is not uncommon though you can avoid
if you plan according to how you understand your investment. You can adopt and turned things into your favor if you know how to adjust.

Yes, traders must need to do two important things here in order to handle their mistakes in trading in more effective way.

The first one must be, they need to ease their feeling against losses so that they will not get broken emotionally. It means you must need to accept your losses like how you are facing profits; there should not be any big differences facing between these two.

The second one must be, try to understand what went wrong to cause that mistake. It means you must need to understand the root cause of your mistake so that you will never repeat them. This way you can avoid your future mistakes this will help you maximize your profits chances compared to the losing moments.

MCobian

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Everyone has made mistakes when trading, and so have I who have made mistakes several times when trading. Fortunately, I was able
to realize and overcome the mistakes I had made, in the end it could generate substantial profits. The mistake that I often do is not have
patience, several times I sell coins too fast. Then I overcome with more patient ways to wait for movement in the market, I will not sell
coins before reaching the target sell.

Savemore

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There are a lot of traders who are usually making the same mistakes over and over again. And the main reason why they keep doing it is because they do not journal their past trades. We should be aware on how journalizing can help us to make better trader. Journalizing our trades can improve our skill and also to find out the mistakes that we keep doing over and over again. Mistakes are normal in trading, what is not normal is if we will keep making the same mistakes when we executing our trades.

Golftech

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Quote from: Salauddin1994 on July 06, 2020, 08:15:25 AM

Trading Education is the best to point we know that less skilled people in trading are always trying to make more profit because they want to know how to make more profit with less service. But if you have ever made a mistake while learning to trade would be wise to try to resolve it. Since we usually make a lot of mistakes a lot of the time, we need to master trading well.

Adjust and keep trying to make it much better, all traders needs to understand that there's always changing pace that needs to work with, it's not that easy to always win your positions, there's bad days that you need to reassess your mistakes.

Especially with so much volatilities, you need to make sure that you are open with any adjustment. Mistakes is not uncommon though you can avoid
if you plan according to how you understand your investment. You can adopt and turned things into your favor if you know how to adjust.

Salauddin1994

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Trading Education is the best to point we know that less skilled people in trading are always trying to make more profit because they want to know how to make more profit with less service. But if you have ever made a mistake while learning to trade would be wise to try to resolve it. Since we usually make a lot of mistakes a lot of the time, we need to master trading well.

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Quote from: davinchi on July 05, 2020, 02:54:59 PM

People are not afraid of losing and that is the scariest thing to me. You should be afraid of losing, you should not get into a trading with "I am going to make so much money!!" type of mindset, you should go into it with "what if I end up losing a lot of money?" mindset. That would allow you to be protected against horrible loss and you would always be careful.

I disagree on that approach. Putting that "afraid of losing" in our mindset will just make things worst. Not good recommendations or advice for those newbies who wants to enter the world of trading. It neither won't protect you against horrible losses.

Having a "winning mindset" is different from having a "quick-profit mindset". Having a winning mindset will make traders do anything to minimizes losses as much as possible. You should face the risks and do anything to make your trades always win.

You won't be able to make a good strategy if on your mind, you are afraid to deal with "what if".

whyrqa

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Quote from: TheGreatPython on July 05, 2020, 01:06:01 PM

Quote from: South Park on July 05, 2020, 11:46:21 AM

It depends, the first question is did you actually made a mistake? I ask this because many see losing a trade as a mistake but I disagree, no one can win every single trade, if you took the time to watch the market and analyze it and your strategy told you to get in the market and you lost, that is not a mistake, that is just paying the price of trading the markets

That must be a right point; no trader could win on every trade they do make and all the failures while trading should not be considered as mistake but may be accounted as lack of knowledge on technical analysis. I mean when your sound in technical analysis then the chances for making mistakes in trading will be very less. Only the traders who are not experienced in making good signal out of their technical analysis must be facing frequent losses and may consider them as mistakes.

Indisputably frequent losses and failures are the consequences of either limited knowledge or little experience in cryptocurrency trading. But it seems to me that it is not always possible to make such an accurate technical analysis as to constantly have 100% accuracy of the forecast in relation to a particular coin. Even the most professional analysts can make a forecast with an accuracy of no more than 75%. Therefore, it seems to me that it is impossible to always be in the black.

Lanatsa

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Quote from: davinchi on July 05, 2020, 02:54:59 PM

People are not afraid of losing and that is the scariest thing to me. You should be afraid of losing, you should not get into a trading with "I am going to make so much money!!" type of mindset, you should go into it with "what if I end up losing a lot of money?" mindset. That would allow you to be protected against horrible loss and you would always be careful.

People who get into trades with making a profit guaranteed in their minds will end up losing money most of the time because they don't know what they are doing, however people who are scared of losing money will make a lot more profit because they do not get into all trades, they are afraid of them, they only get into a trade only when they feel comfortable and certain about it. Which is why I believe people who are afraid will make more money.

True but there would be just sufficient level of being afraid because too much wont really give out good outcomes too where it can result that you would miss up good opportunities just because you are
afraid to risk on thinking of that you would lose your money.

But this is way more better rather than having that winning mindset most of the time.Mistakes are unavoidable the thing here is that you do need to learn from it and adding it up to your experience
so that in next time you do make trades you are gradually increasing up your awareness and knowledge.

Polishing up skills and knowledge would take a matter of time.

davinchi

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People are not afraid of losing and that is the scariest thing to me. You should be afraid of losing, you should not get into a trading with "I am going to make so much money!!" type of mindset, you should go into it with "what if I end up losing a lot of money?" mindset. That would allow you to be protected against horrible loss and you would always be careful.

People who get into trades with making a profit guaranteed in their minds will end up losing money most of the time because they don't know what they are doing, however people who are scared of losing money will make a lot more profit because they do not get into all trades, they are afraid of them, they only get into a trade only when they feel comfortable and certain about it. Which is why I believe people who are afraid will make more money.

TheGreatPython

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Quote from: South Park on July 05, 2020, 11:46:21 AM

It depends, the first question is did you actually made a mistake? I ask this because many see losing a trade as a mistake but I disagree, no one can win every single trade, if you took the time to watch the market and analyze it and your strategy told you to get in the market and you lost, that is not a mistake, that is just paying the price of trading the markets

That must be a right point; no trader could win on every trade they do make and all the failures while trading should not be considered as mistake but may be accounted as lack of knowledge on technical analysis. I mean when your sound in technical analysis then the chances for making mistakes in trading will be very less. Only the traders who are not experienced in making good signal out of their technical analysis must be facing frequent losses and may consider them as mistakes.

Quote from: South Park on July 05, 2020, 11:46:21 AM

if you made a trade against what your strategy was telling you or invested more money than necessary even if you won that trade that was a mistake and you need to find a way to correct it before it is too late.

If you're following a strategy then you should follow it all the times so that you could find chances to sustain with your trading. Like you have mentioned, most traders never consider all the profitable trade which were NOT made through their strategy just because of it was profitable. But, this kind of practice will lead to big tragedy when we are expecting and making random trades.

Here by random trades, I am referring all the traits which are not covered by the strategy we are following.

South Park

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It depends, the first question is did you actually made a mistake? I ask this because many see losing a trade as a mistake but I disagree, no one can win every single trade, if you took the time to watch the market and analyze it and your strategy told you to get in the market and you lost, that is not a mistake, that is just paying the price of trading the markets, however if you made a trade against what your strategy was telling you or invested more money than necessary even if you won that trade that was a mistake and you need to find a way to correct it before it is too late.

BLTC

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This is so true, There are many newbies out there that tends to start even without a solid foundation on what trading really is. So, Learn these things because it will help you greatly and lessen your risks on every trade.

okala

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A well right up and mistake should be something we should not reject but trying to live with as a trader. The only way nature teach us on some trading secret and strategy is through what we learn after making a mistake.

Shasha80

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When I first started trading I made a lot of mistakes, and because of these mistakes I also suffered a big loss. From this incident I began
to think about overcoming and dealing with the mistakes I made while trading. There are several steps I did to overcome the mistakes I made,
including learning more about trading, controlling emotions when trading, use the stop-loss feature and most importantly learn to be patient.
With the steps I did that slowly my trading results began to improve. Because I can correct the mistakes I made.

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Quote from: wozzek23 on July 04, 2020, 03:37:03 PM

Using your mistakes as a stepping stone, it is really important that people gets to know about that. It is not good that you see mistakes as a game over. There are people who wouldn’t choose to learn from their mistakes, rather they will just call it a quit and see their failure as a sign that they are meant to quit. There are people who failed many times, but they didn’t quit because what they are pursuing is something they would love to spend all their time doing.

So, instead of quitting after they have failed, they just use the failure as a stepping stones and keep trying to different strategies until they have gotten it right. So this point is one important point that people needs to pick from here.

Easy to say but would really be hard to be done along the way since not all people would really have that kind of strong will when it comes on handling up things.This is why they do really make out decisions on quitting directly once they do saw that this thing doesnt work for them.Yeah, its really a wrong mindset specially when we do commit several mistakes unless if you've been trading for years and still profitable then thats the time you can say or a considerable time for you to quit because there are really things which are really meant for us to get involved or doesnt work no matter how hard we do try but first we shouldnt easily quit
and as said making these mistakes as a ladder or stepping stones of learning to your success.

RealMalatesta

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Unfortunately some people do not learn from their mistakes and over time try to blame it on the markets or something to cause more harm for themselves. For some reason when some people lose they blame manipulators, they blame media to play with the price, they blame exchanges, they blame everything but themselves.

This is why they will never learn anything from the mistakes, even if they end up continue trading they are basically just saying that next time they do the exact same thing that caused them to lose money will actually work and make them profits, of course it doesn't and that means they do end up losing a ton of money once again. This is basically all because of people are too narrow minded to think they themselves could ever be the mistaken part in this.

Topic: How to Overcome and Handle Your Mistakes in Trading? - page 4. (Read 1347 times)