I am not lucky in trading - what am I doing wrong? - page 2.

Samwise_Coingee

newbie

Activity: 25

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Quote from: Panslav on November 27, 2019, 01:19:15 PM

Hello all,

need advise, if any exist

I am trading btc few years - but it seems I havent learnt anything. My plan was to use bitcoin volatility to earn some extra btc, but it seems I am not able to do this.
I am selling/buying always in wrong time. Using volume as only indicator, as others do not make sense for me.

For example I see a series of red candles with increased selling volume, price crossing support line (like today crossing 7040, 7000, 6900 USD) so I sold 0.8btc in expectation price fall to 6500 usd as few days ago.
But 1.5 hour later price changed and went up and my prediction was again wrong. And the same is during increase of price. If the price hits e.g. 10300 usd and starts falling I do not sell, because I am not sure when it will turn again. And then I usually miss fall in price from 10300 to 7300 which is finally 3000 usd, what you can earn on 1 sold btc at correct time.

Am I doing something completly wrong? Or it is not possible to predict the movement of btc?

thanks
P.

Hello mate!

The majority of traders loose because of poor risk management. If you cannot manage risks you cannot earn in long-term, that's it. My personal recommendation is either to learn risk management. or use the software that will do risk management for you. Personally I use Bitinsure service to monitor all the risks and stats at several accounts.

Good luck!

Faxmate

sr. member

Activity: 1071

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Quote from: kodtycoon on January 13, 2020, 01:27:50 PM

Quote from: radjie on January 13, 2020, 01:17:43 PM

Quote from: gweedo on January 12, 2020, 10:18:13 AM

As long as you change your trading strategy, everything will be fine. If you are unlucky in trading, it is better that you choose another option is hold. Try to analyze altcoins and look for a few suitable altcoins to buy then hold them for a long time to achieve maximum profits. Trading is difficult because you cannot know the direction of bitcoin and you may not always get it right

yes, indeed the right decision must indeed change the strategy that will be done in the future, if he is hesitant in trading because it is difficult to decide when to sell to get profit in a short time after there is a slight increase. the only best way that needs to be implemented is to change the strategy that must be done by choosing to trade for a long period of time in order to get profits in the future.

not sure by changing the strategy he did because he is not a new trader which means he has made the same mistake repeatedly. if he can realize and can correct these mistakes then of course he has a chance of success because one thing that doesn't seem to work well is mentality and emotional control so he always sells when panic or candles cross the support line which in fact after selling, price get higher increases

if he is a professional trader than you are right that he must have changed his strategies for several time, and after that it does not work that is why he is seeking help. i think the best way to improve is that he should thoroughly observe his trading and his losses, and try to write his mistakes and after that he should start trading and do not repeat them. And try to trade with a cool mind.

kodtycoon

legendary

Activity: 1568

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Quote from: radjie on January 13, 2020, 01:17:43 PM

Quote from: gweedo on January 12, 2020, 10:18:13 AM

As long as you change your trading strategy, everything will be fine. If you are unlucky in trading, it is better that you choose another option is hold. Try to analyze altcoins and look for a few suitable altcoins to buy then hold them for a long time to achieve maximum profits. Trading is difficult because you cannot know the direction of bitcoin and you may not always get it right

yes, indeed the right decision must indeed change the strategy that will be done in the future, if he is hesitant in trading because it is difficult to decide when to sell to get profit in a short time after there is a slight increase. the only best way that needs to be implemented is to change the strategy that must be done by choosing to trade for a long period of time in order to get profits in the future.

not sure by changing the strategy he did because he is not a new trader which means he has made the same mistake repeatedly. if he can realize and can correct these mistakes then of course he has a chance of success because one thing that doesn't seem to work well is mentality and emotional control so he always sells when panic or candles cross the support line which in fact after selling, price get higher increases

radjie

sr. member

Activity: 1792

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www.licx.io

Quote from: gweedo on January 12, 2020, 10:18:13 AM

As long as you change your trading strategy, everything will be fine. If you are unlucky in trading, it is better that you choose another option is hold. Try to analyze altcoins and look for a few suitable altcoins to buy then hold them for a long time to achieve maximum profits. Trading is difficult because you cannot know the direction of bitcoin and you may not always get it right

yes, indeed the right decision must indeed change the strategy that will be done in the future, if he is hesitant in trading because it is difficult to decide when to sell to get profit in a short time after there is a slight increase. the only best way that needs to be implemented is to change the strategy that must be done by choosing to trade for a long period of time in order to get profits in the future.

bohr

sr. member

Activity: 994

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Quote from: freedomgo on January 09, 2020, 07:44:43 PM

Try to improve your trading strategy and don't think about luck, think more on your skills and knowledge and that area you need to improve.
You don't need to win every time, you just need to be consistent by making good decision so you will be profitable in the end.
it's a matter of being realistic and accepting your mistakes and correct it.

While that is not bad advice at all and I think it is something that every trader needs to do even if they are successful, in my opinion the first thing that he needs to improve is his own psychology, if you think that you are losing your trades because you are not lucky enough then there is something wrong with the way you think about the markets, there is also something wrong with the way you think of yourself and your relationship with the markets and if you do not correct that then no trading strategy is going to be enough for you to become profitable.

gweedo

legendary

Activity: 1498

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As long as you change your trading strategy, everything will be fine. If you are unlucky in trading, it is better that you choose another option is hold. Try to analyze altcoins and look for a few suitable altcoins to buy then hold them for a long time to achieve maximum profits. Trading is difficult because you cannot know the direction of bitcoin and you may not always get it right

Genemind

sr. member

Activity: 1596

Merit: 335

Quote from: Lanatsa on November 27, 2019, 01:47:11 PM

Sh*t happens everytime and volatility could f*cked us up anytime. You arent the only one who do experience such problem when we do talk about
buy high sell low or missed opportunities on when to sell or when to buy.Due to unpredictability of the market, its just normal to commit mistakes.
Advise? Try to learn on your mistakes, have a time to realize on what part have you done wrong. Dont focus on technicals because this isnt a precise
thing that you can rely on when it comes to predicting prices.

This is definitely true. Anyone could experience the same thing. Committing mistakes is a part of our trading journey but it is important that we'll learn from our mistakes. We couldn't do trading perfectly in an instance and we have to undergo different unnecessary circumstances. The best thing to do is to deal with every market situation and take the changes as an opportunity to earn.

HatakeKakashi

hero member

Activity: 1274

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If you are not lucky in trading just change your strategy that you used because you lose your money. But losing money is normal and every trader experienced that kind of losing but the good with that is you know next time your mistake and never do that again because tha is not really good for you. Trading is for the people who have a lot of patient and taking risk so if you want to earn money don't quit trading but improve yourself if you want to continue trading I feel you too before when I did not earn money in trading but I've never quit so that's why here in the trading world too and still earning money and I hope that's what happen to you too. If you think you do the right thing in trading they have instaces also that because cryptocurrency is unpredictable so you for sure they have still possibility to lose money even you do your best in tradng but improving youraelf can minimize your risk.

Visbay

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Quote from: andycarrol on January 11, 2020, 10:28:39 AM

Quote from: Triffin on January 11, 2020, 10:09:58 AM

Quote from: cryptoangel on January 10, 2020, 09:39:02 AM

Quote from: Murat on January 10, 2020, 05:33:45 AM

When you are in a platform which is very much volatile and manipulation then you don't have a lot of things to do a good thing, so it's not your fault anymore, so don't think you are unlucky in trading because fortunes always don't favor a soldier, but you have to carry out this trading because who knows when the good moment will come to you, so keep trying and keep trading, you just should maintain some simple tricks, I think Bitcoin price chart would be your nest company if you again want to trade, just watching the price chart and take another action regarding trading.

Obviously, your suggestions are really useful on new traders. Nowadays most the investors are just invest the money on crypto and waiting for the next pump. So we must wait for long term or plan the each spot on trading platform. This year we are all waiting for next rapid hype on Bitcoin so surely beginners are also understand the future prediction and make some profit.

Yes I’m trading, in which you will have to be careful and don’t make any decisions in hurry because people lose patience and sell their trading investment earlier and now they are saying we are not lucky, a trader must be wise enough to choose good coin, wait for right time and trade only if you realize that trading now will make you earn good profit.

It seems he has chosen a good coin, learning to read charts is very necessary because many factors make bitcoin prices go up and down, besides demand and supply, such as news and rumors can also change direction faster. so must always pay attention to the conditions that occur.

You will see so many things on this journey as the price will rise as fall because when people panic so it makes the price down so never be the one who contributes to making the market down. It is not wise to listen to bad news or fake roamers so you focus on holding and trust only your own research mostly people spread bad news to distract the traders and make them sell panic.

alan2here

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WorkAsPro

Quote from: Hypnosis00 on January 11, 2020, 10:47:48 AM

Quote from: kro55 on January 11, 2020, 10:24:39 AM

I was too a trader in the early days but i never earned any good profit due to trading. I finally gave up trading and start HODLING. HODLING work very much fine for me. I have no tensions to buy and sell daily, keep an eye on market every hour. I suggest if you are not having luck in trading try HODLING.

Holding could be difficult if you don't have patience and not actually it suits to a person who would like to earn a profit every day. That is why they come into trading for that sake but sometimes it never works well. They counter losses and quit. That was a horrible thing to happen when you don't know what we are doing and we don't anticipate for the incoming.
You know already what is your capability and I love how you manage it unlike they others.

In my opinion, you should only hold a few good coins because these are the coins that can be profitable for you in the short term and the current market is starting to be more stable, this is the time for you to consider investing now. I often enter into trading when the market is volatile because it is a good time for you to make money but need to have a specific investment strategy because any mistake will make you feel disappointed.

In investing, you are not always the winner and when you have failed many times, you will have more experience for the next trading.

SummerBliss

sr. member

Activity: 910

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Always put stop losses!
Always include stop losses to your trade religiously. People often forget that cutting losses is equally important to earning profits. Usually in cryptos you don't make profit out of every trade. In few trades, you hit profit once. The general ratio is 1:4. 1 profit for every 4 losses. In those 4 losses, you need to have stop losses at place to incur less loss and exit at soon as possible. This will make that 1 profit big.

Mumbeeptind1963

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Sovryn - Brings DeFi to Bitcoin

Quote from: freedomgo on January 09, 2020, 07:44:43 PM

Try to improve your trading strategy and don't think about luck, think more on your skills and knowledge and that area you need to improve.
You don't need to win every time, you just need to be consistent by making good decision so you will be profitable in the end.
it's a matter of being realistic and accepting your mistakes and correct it.

Yes, I think the reason why you did not get the thing that you want its because of lack of strategy, people are having a good strategy and skills thats why they are hitting their target , they are not always lucky too, they experienced some losses too, that is why sometimes they did not get back their money in trading , accept the fact that when we dont know how does market plays we will continue to get loss.

ReiMomo

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Activity: 2366

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Duelbits - $100k Bonus/week

Quote from: freedomgo on January 09, 2020, 07:44:43 PM

Try to improve your trading strategy and don't think about luck, think more on your skills and knowledge and that area you need to improve.
You don't need to win every time, you just need to be consistent by making good decision so you will be profitable in the end.
it's a matter of being realistic and accepting your mistakes and correct it.

This is should be a must. I also dont recommend going in trading without full knowledge on how trading works and make strategies.
Even how experts you are in trading you cant give any assurance that you will never fail, every failure we should learn on it and correct as much as possible also avoid to repeat those mistakes. Dont rely on luck, just research and study your own and which coins to pick that has the potential to gain profit. Trading is not an easy job, you need to take it seriously.

Hypnosis00

sr. member

Activity: 2422

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Quote from: kro55 on January 11, 2020, 10:24:39 AM

I was too a trader in the early days but i never earned any good profit due to trading. I finally gave up trading and start HODLING. HODLING work very much fine for me. I have no tensions to buy and sell daily, keep an eye on market every hour. I suggest if you are not having luck in trading try HODLING.

Holding could be difficult if you don't have patience and not actually it suits to a person who would like to earn a profit every day. That is why they come into trading for that sake but sometimes it never works well. They counter losses and quit. That was a horrible thing to happen when you don't know what we are doing and we don't anticipate for the incoming.
You know already what is your capability and I love how you manage it unlike they others.

zeze18

sr. member

Activity: 938

Merit: 256

Quote from: darewaller on January 11, 2020, 10:26:04 AM

Bitcoin price prediction is a difficult thing for most people, but have you tried to learn deeply how the analysis works?
If not, then you should do so, and study everything about technical analysis so you can be able to do it perfectly or ask those you know that can do it and let them teach you.

It is always difficult to predict price accurately when you are a day trader because in a day the price can move to any direction in any second. That’s why long term trading is a bit better, you have a lot of time to study the chart and be able to tell where it’s heading to in some months time. Being lucky or not is not a big thing in trading; if you are good at your analytical skill then you will slowly become profitable then you will feel yourself luck for trading cryptos.

We don't need to predict the price accurately, even the pro traders often failed to predict price correctly. The core things to become a traders is the matters of risk management and money management. We don't always have to win in every trade, but we have to manage our money to use on trades and keep the profits is higher than our loss, and for doing that all we need is patience.

andycarrol

hero member

Activity: 1106

Merit: 502

Quote from: Triffin on January 11, 2020, 10:09:58 AM

Quote from: cryptoangel on January 10, 2020, 09:39:02 AM

Quote from: Murat on January 10, 2020, 05:33:45 AM

When you are in a platform which is very much volatile and manipulation then you don't have a lot of things to do a good thing, so it's not your fault anymore, so don't think you are unlucky in trading because fortunes always don't favor a soldier, but you have to carry out this trading because who knows when the good moment will come to you, so keep trying and keep trading, you just should maintain some simple tricks, I think Bitcoin price chart would be your nest company if you again want to trade, just watching the price chart and take another action regarding trading.

Obviously, your suggestions are really useful on new traders. Nowadays most the investors are just invest the money on crypto and waiting for the next pump. So we must wait for long term or plan the each spot on trading platform. This year we are all waiting for next rapid hype on Bitcoin so surely beginners are also understand the future prediction and make some profit.

Yes I’m trading, in which you will have to be careful and don’t make any decisions in hurry because people lose patience and sell their trading investment earlier and now they are saying we are not lucky, a trader must be wise enough to choose good coin, wait for right time and trade only if you realize that trading now will make you earn good profit.

It seems he has chosen a good coin, learning to read charts is very necessary because many factors make bitcoin prices go up and down, besides demand and supply, such as news and rumors can also change direction faster. so must always pay attention to the conditions that occur.

darewaller

hero member

Activity: 2898

Merit: 639

Bitcoin price prediction is a difficult thing for most people, but have you tried to learn deeply how the analysis works?
If not, then you should do so, and study everything about technical analysis so you can be able to do it perfectly or ask those you know that can do it and let them teach you.

It is always difficult to predict price accurately when you are a day trader because in a day the price can move to any direction in any second. That’s why long term trading is a bit better, you have a lot of time to study the chart and be able to tell where it’s heading to in some months time. Being lucky or not is not a big thing in trading; if you are good at your analytical skill then you will slowly become profitable then you will feel yourself luck for trading cryptos.

kro55

sr. member

Activity: 1610

Merit: 301

*STOP NOWHERE*

I was too a trader in the early days but i never earned any good profit due to trading. I finally gave up trading and start HODLING. HODLING work very much fine for me. I have no tensions to buy and sell daily, keep an eye on market every hour. I suggest if you are not having luck in trading try HODLING.

RealMalatesta

legendary

Activity: 2338

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That is literally what "chart readers" are doing and they are giving insane amount of suggestions and advises and predictions here. They look at what a coin did once before in history when something similar happened and assume it will do the same thing once again.

The biggest of the examples is that bitcoin did went up after the halving, a bit before and after and a lot after long while so they assume if they buy bitcoin now the price will be 3x in one year or something. I am sorry to say this but that is as possible to happen as not to happen as well. I will never understand why the people who actually think a crypto currency will do exactly the same thing it once did looking at the past and trying to predict the future, that is not how any of this works at all.

Triffin

sr. member

Activity: 952

Merit: 251

Quote from: cryptoangel on January 10, 2020, 09:39:02 AM

Quote from: Murat on January 10, 2020, 05:33:45 AM

When you are in a platform which is very much volatile and manipulation then you don't have a lot of things to do a good thing, so it's not your fault anymore, so don't think you are unlucky in trading because fortunes always don't favor a soldier, but you have to carry out this trading because who knows when the good moment will come to you, so keep trying and keep trading, you just should maintain some simple tricks, I think Bitcoin price chart would be your nest company if you again want to trade, just watching the price chart and take another action regarding trading.

Obviously, your suggestions are really useful on new traders. Nowadays most the investors are just invest the money on crypto and waiting for the next pump. So we must wait for long term or plan the each spot on trading platform. This year we are all waiting for next rapid hype on Bitcoin so surely beginners are also understand the future prediction and make some profit.

Yes I’m trading, in which you will have to be careful and don’t make any decisions in hurry because people lose patience and sell their trading investment earlier and now they are saying we are not lucky, a trader must be wise enough to choose good coin, wait for right time and trade only if you realize that trading now will make you earn good profit.

Topic: I am not lucky in trading - what am I doing wrong? - page 2. (Read 2112 times)