Topic: Mistakes in trading that lead to loss of money - page 6. (Read 16971 times)
Being greedy. Not having a trading plan and always wanting to have a higher profit that would end up in a loss sometimes because I am hoping that the price would continue to go up and then later on it crash because of some rumor or news. I always go all in when trading before because when I put in a higher amount then the bigger the profit will be but then when price goes down, I would have a bigger loss that's why in the first few months that I am trading, I lost more than half of my capital because of not having a target profit and not using a stop loss. I learned my lesson though and I always buy in portions now and have a target profit or stop loss perhaps.
One of my mistakes in trading is picking up coins that are only 1 sats. My dumb thoughts on that day that it will rise eventually someday. I just realized after that it's a total shitcoin after researching about it and most especially it is on yobit.
Its not to bad at all because once in a time some of those shitcoins gonna pump i mean to say it is a totally risky its like picking up a coin with a blindfold. Newbie traders often do buy that coins because of aiming a big profit without knowing that not that all have a chance to go up it is better to pick a low cap coin but have an active team.
One of my mistakes in trading is picking up coins that are only 1 sats. My dumb thoughts on that day that it will rise eventually someday. I just realized after that it's a total shitcoin after researching about it and most especially it is on yobit.
Mistakes is inevitable, Last time I doubled my investment and lost everything including the principle just because I used bigger size and narrow stop loss.Bigger size of trades in intraday is the culprit. You get tense when market start consuming Your profit which you earned, along with the principle and u will be stuck making multiple trade to get back what is yours from the market.
From my point of view, the biggest mistake is to buy when you see that a altcoin has grown a lot.Another mistake would be the desire for huge profits like 5x-10x in a week.
I agree. These are the most typical mistakes. It's not always profitable to buy on the increase, and if it is profitable, then the amounts earned won't be so big and we'll have to sell in all on time.
Yes I greed. Mistakes in trading leads to loss of money that's why you need to be careful in every trading you must do. Think wise so that you avoid mistakes. If you want to trade, you only use a small amount of coin so that if ever it breaks, a little bit of money will loose. Keep calm, don't panic and be patient all th time. Don't believe with the people you don't know more because some of them lead you to risk.
The first and the most common i think not just for me but for all of us would be the emotional factor in trading.
We must be fully prepared before we even start clicking that buy button.
-Plan your trade, and trade your plan.
-Have a plan B.
I have a lot of rules but i think this two is my golden rule.
I mostly don't do Fundamental when trading and i obviously don't read and believe all the news.
I use it as reference for analyzing and back-testing, but mostly news are just a distraction. Something that can cloud up people's mind, especially those trader's who use Technical Analysis.
We must be fully prepared before we even start clicking that buy button.
-Plan your trade, and trade your plan.
-Have a plan B.
I have a lot of rules but i think this two is my golden rule.
I mostly don't do Fundamental when trading and i obviously don't read and believe all the news.
I use it as reference for analyzing and back-testing, but mostly news are just a distraction. Something that can cloud up people's mind, especially those trader's who use Technical Analysis.
Mistakes made in trading are numerous, they range from being impatient, trading without observing margin, not trading with stop loss, emotions etc.
I like to say that one of the worse things that kills a trading account is emotion. If you are trading and can't control your emotions, it definitely means the person has started on a wrong footing. With emotion, you won't want to exit a losing trade just because of the amount involved even when the indicators have indicated exit to avoid multiply losses.
Therefore, so many times I have withneed my emotions engulfing me in a trade. Is a really difficult situation
I like to say that one of the worse things that kills a trading account is emotion. If you are trading and can't control your emotions, it definitely means the person has started on a wrong footing. With emotion, you won't want to exit a losing trade just because of the amount involved even when the indicators have indicated exit to avoid multiply losses.
Therefore, so many times I have withneed my emotions engulfing me in a trade. Is a really difficult situation
The biggest mistake is not doing proper risk management. Don't go all in! If the market goes against you, it wipes you out.
Only stake about a tenth of your stash - because you are not staking everything, you can wait for the trade to pan out without panicking.
This is a sound strategy but one that many newbies do not want to apply, why? Because that will mean their potential profits could go down and when we add the fact most of the time they have a small amount of capital then this means their earnings are not going to be as good, that is why they prefer to take the risk and put all their money in a single trade.Only stake about a tenth of your stash - because you are not staking everything, you can wait for the trade to pan out without panicking.
Your mistake/s in trading that leads to loss of money
I think it will be the best to share your story so that we can avoid your past mistakes.
I think it will be the best to share your story so that we can avoid your past mistakes.
The usual mistakes that traders commit in trading would always be the trait of being impatient. I've often read about stories from the forum that says how regretful they were when they did not wait for the right moment to trade, what's sad about it is how long they have held to their coin and just gave up. So, it's best to still be patient.
Patience may cost you dear
If the coin goes down the toilet, your patience will do you more harm than good. The lesson to take home is that there is no particular virtue in being patient. Those who are naturally more patient are just thinking slower. It may in fact turn out that they fare better in the long run on average but the right approach is not messing up with how you are wired but knowing what you are doing. In that case it won't matter whether you are naturally patient or impatient. You will always be on time, neither too late nor too early
The biggest mistake is not doing proper risk management. Don't go all in! If the market goes against you, it wipes you out.
Only stake about a tenth of your stash - because you are not staking everything, you can wait for the trade to pan out without panicking.
This is a sound strategy but one that many newbies do not want to apply, why? Because that will mean their potential profits could go down and when we add the fact most of the time they have a small amount of capital then this means their earnings are not going to be as good, that is why they prefer to take the risk and put all their money in a single trade. Only stake about a tenth of your stash - because you are not staking everything, you can wait for the trade to pan out without panicking.
Your mistake/s in trading that leads to loss of money
I think it will be the best to share your story so that we can avoid your past mistakes.
I think it will be the best to share your story so that we can avoid your past mistakes.
The usual mistakes that traders commit in trading would always be the trait of being impatient. I've often read about stories from the forum that says how regretful they were when they did not wait for the right moment to trade, what's sad about it is how long they have held to their coin and just gave up. So, it's best to still be patient.
If you would consider selling too early then of course that's the biggest mistake you could do. But many mistakes done by most of us is not keep infromations updated on coins that we just dumped as now I recalled I lost most of my profit opportunity of just letting a token I sold get even more higher. I should keep track on those performance
I agree with you. Mistakes often happen because you were hurrying and sold too soon, without making any money at it. That's very bad and leads to mistakes. Your mistake/s in trading that leads to loss of money
I think it will be the best to share your story so that we can avoid your past mistakes.
I think it will be the best to share your story so that we can avoid your past mistakes.
The usual mistakes that traders commit in trading would always be the trait of being impatient. I've often read about stories from the forum that says how regretful they were when they did not wait for the right moment to trade, what's sad about it is how long they have held to their coin and just gave up. So, it's best to still be patient.
well i thin the mistakes that I've done were buying high and selling low, because I thought that I will lose a huge amount of money if I didn't sell it.. also I am greedy that I am looking for a huge earnings I wasn't contented of the small pump and expecting it to pump even more but on the next day I regretted because it started to fall again.
Trading is not a win-win situation. In decision in trading, only two result will do, GAIN or LOSS. We should accept the loss in trading and we don't have to blame our self that our decision are mistakes/wrong. Loss is part of learning the trading business. Panic makes bad decision, we should control our emotion if the the price of trading decreasing.
In my personal real-life experiences, most of mistakes will cause to the loss of money and specially with trading. Avoiding those mistakes are really impossible if you don't have experience or never face with it before. Just chill out because everyone make the same mistake like you, find a way to fix or improve it is the point here.
The worst mistake you can make especially with altcoin trading is to baghold a coin for years on end, in my opinion. That is ridiculously dumb because altcoins all die out, new altcoins come out every day that have better specs then before. None of them however have an established reputation as a functioning cryptocurrency, something that in my opinion only bitcoin has.
We are trading because we know how to do it, we analyze the market,we look for trends,study price movement,we buy the right coins you think will pump more,everything is ready for picking at the momemt but you wanted to gain more profit so you wait a little more, but then you slept because it's early morn and miss that opportunity to sell, so instead of gaining you lose including your capital.Suck right... you lose your chance to earn more, mistakes that can happen to anyone,believe me, correct me if i'm wrong.
i've done pretty much done every mistake out there and i'm sure i'll do more. i've gotten bored with alts and sold them before they exploded. I bought in at the peaks of the biggest hypes ever. i've become emotionally attached to totally worthless coins.
the only things I haven't done yet are declare yet another bitcoin killer, 'this time it's different', new paradigm and all the other tired phrases.
the only things I haven't done yet are declare yet another bitcoin killer, 'this time it's different', new paradigm and all the other tired phrases.
One of my few mistakes in trading which i will always remember is buying many alts in peak values expecting them to pump more after seeing them pumping in last 24 hour with almost +100% gain price. Never buy any altcoin at those peak price is the biggest lesson in my altcoin trading career.
I am quoting these two commentaries because they both apply totally to my experience as well. I will add that in my first months in cryptos, a few years ago, I would fall for almost every kind of scam, before I realized how many cheaters are in this space. I had even managed to buy the infamous Pandacoin (PANDA) which was so much a scam that it lasted only a few days before the coin died as the devs dumped their premine on us bagholders.
Nevertheless, no matter how many mistakes, today I cannot really complain about the results I have achieved in time.
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