Personally, i think a lot of traders should pay attention to uprising exchanges, they’ve got much more potential.
Why do you think so? 
Topic: Mistakes need to avoid in day trading - page 3. (Read 1220 times)
Personally, i think a lot of traders should pay attention to uprising exchanges, they’ve got much more potential.
that's true because a lot of people make mistakes like too panic and too ambitious, because both of these traits are most avoided by traders and they must be removed in our heads
What do you mean by insider’s information mate, could you be make that clear please because I am also opened to learning too ? But, I think it is best to rely on chart and analysis because if you don’t work with both of them, then you will work with intuition which will allow emotional trading comes in, intuition is not completely okay to use when trading, that is why a lot of people fail in their day trading if they don’t learn to use it along with their emotion which I think is the major tool to use when trading.
that's true because a lot of people make mistakes like too panic and too ambitious, because both of these traits are most avoided by traders and they must be removed in our heads
What do you mean by insider’s information mate, could you be make that clear please because I am also opened to learning too ? But, I think it is best to rely on chart and analysis because if you don’t work with both of them, then you will work with intuition which will allow emotional trading comes in, intuition is not completely okay to use when trading, that is why a lot of people fail in their day trading if they don’t learn to use it along with their emotion which I think is the major tool to use when trading.
Mistakes in day trading is not easy to avoid because there are such time that the market falls and growing up so it's not a mistake also it depends what will be the out come so its normal by taking the risk of crypto trading.
You should have at least a basic knowledge of trading and this will allow you to start earning. Do not spend a lot of time just for training. Start practicing slowly. Then you'll learn faster.
And that is the bottom-line of day trading of course. This is the reason the new startups in the market spend some good six months in the incubators before pitching in to the investors. You enter the trading with the best of your knowledge; you are very instrumental in making the good moves regardless of what the market conditions are. Often people focus completely on day trading thereby miss out some good opportunities in other areas. Never miss out any opportunity.
1. always trade with stop loss
2. never follow the crowd blindly
3. always set daily budget.
2. never follow the crowd blindly
3. always set daily budget.
not sure about first point. if you trade without leverage then setting stop loss could be a bad idea especially while trading high volatile coin
following a crowd means following a trend? trading against trend is the very first and crucial mistake of a trader.
1. always trade with stop loss
2. never follow the crowd blindly
3. always set daily budget.
2. never follow the crowd blindly
3. always set daily budget.
Noobs shouldn't even try to daytrade anyways, they should just buy buying and holding. For someone to make money in trading someone has to lose. If your new you will get eaten up by the pros that have been doing this for years. The only people that win in the end are the exchanges with their trading fees.
losses is part of trading and investments! We cannot avoid loss but it is the level of your knowledge and skills that do make you money in any investments field. To remain in trading your number of loses must be less than profits as no one can accurately predicts the cryptocurrencies market.Thanks a lot of nice suggestions. since last year I had very altcoin in my hand. I've been in this sector for 5 years and sometimes I can still make mistakes. It's very important to control emotions.. and not risking all of the money..
That is were all the confusion is. Many people don't know that it is important not to trade than trading and losing and some did not know that they cannot predicts the movements of financial assets accurately and because of this, it is very important we should investing with what we can afford to lose . Reducing our risk, should be the best investments decision to make if you want to remain in cryptocurrencies market for long-term.
Thanks a lot of nice suggestions. since last year I had very altcoin in my hand. I've been in this sector for 5 years and sometimes I can still make mistakes. It's very important to control emotions.. and not risking all of the money..
In this bear market lot of people were suffering about how to minimize their losses,for them trading is one good way to make daily profits and minimize your over all losses you made from the long bearish trend.SO these are the mistakes need to avoid when someone starts to day trading.
1.Don't trade based on your emotions,just concentrate on FOMO and FUD.
2.Only risk the amount which can be affordable for you or just don't enter into that trade.
3.Don't use the technical analysis more,its just a tool to predict but still there is no reason for it to happen cent percent.
4.Don't day trade only if you don't understand it.
More points about mistakes need to avoid are welcomed here for the newbie to learn.
Day trading on bear markets is not advisable. Try to notice the price and one thing that you will notice is the price is not going anywhere. Most of the time, price is just moving side ways. The profits that you get is not enough to pay for the fees. If you really plan to continue day trading, set a low target like 2% to 3% profits, upon hitting your goal, Sell right away.1.Don't trade based on your emotions,just concentrate on FOMO and FUD.
2.Only risk the amount which can be affordable for you or just don't enter into that trade.
3.Don't use the technical analysis more,its just a tool to predict but still there is no reason for it to happen cent percent.
4.Don't day trade only if you don't understand it.
More points about mistakes need to avoid are welcomed here for the newbie to learn.
well, sometimes you can use CFDs to benefit from bearish trend. though it is a problem to find a good CFD provider
I wish daytrading was like the previous years before the crackdowns because it is still very lucrative. I don't want to pursue daytrading for now because maybe you can get 1%-5% which is the maximum at this moment you can get but then when the crash happens, it declines a massive 20%-50%. It's very ugly to see those things so the strategy would be better if we just accumulate.
I'm not sure if this was already said but don't put all your money in one position!
I think that is the basic lesson in crypto trading, besides that we have a big chance to make a profit from the random coin.
In crypto, we can see many coins will increase the time to time and although we don't know which coin that will increase if we can diversify that coin, our chance will bigger. But it's not easy to buy many coins because we need to have a bigger balance so we can split the fund between buying many coins at a low price.
I'm not sure if this was already said but don't put all your money in one position!
Do not trade vigorously without enough knowledge how to trade. Actually, we all know that it is risky but we go on and do trading because we want to gain profits like others. You have to understand charts, candles, indicators and the market to react and to do some good entries and exits.
the desire to find ways to reduce the loss ratio is obtained from many factors. for example by following certain signals and then researching them personally. so it can't be instant to memorize all available methods. But many traders make mistakes in speculating profit ratios and how to handle coins that must be sold immediately because of inappropriate momentum, this experience must be explored because daily trading sometimes runs erratically outside the target 
To avoid mistakes in trading you're not supposed to be in control of your emotions dude.
Then, don't believe easily or depend in any of the FUD news you will read in the updates of the coins, also
Don't rely on your luck too.
Day trading mainly depends on our luck but we don't have to simply trust on it to becomes profitable by day trading.My advice is don't do day trades if you want profits on long term without much effort because by doing day trading you can't make anything bigger even you can achieve good profits everyday. Then, don't believe easily or depend in any of the FUD news you will read in the updates of the coins, also
Don't rely on your luck too.
Trading while having an emotion is not good in my case. Because what if the coin that you holding is going to down the price for sure they have possibility for you to panic selling that's the other do last year. Everythings that can cause you make mistake better should be avoid that. The information is good and very informative that can help to the newbie if they are in the day trading.
Its a human feeling and we can't avoid that but we can tried to control it. That is how important to think wisely in all situation we encountered in trading and we might have to extend our patient. Cause once our emotions blown out, possible we can't think better and only we possible to think is to sell and sell..
Trading while having an emotion is not good in my case. Because what if the coin that you holding is going to down the price for sure they have possibility for you to panic selling that's the other do last year. Everythings that can cause you make mistake better should be avoid that. The information is good and very informative that can help to the newbie if they are in the day trading.
that's true because a lot of people make mistakes like too panic and too ambitious, because both of these traits are most avoided by traders and they must be removed in our heads
Do not trade vigorously without enough knowledge how to trade. Actually, we all know that it is risky but we go on and do trading because we want to gain profits like others. You have to understand charts, candles, indicators and the market to react and to do some good entries and exits.
You have to memorize the strategy of seeing candles in the market, because many traders usually don't understand this strategy and may only have a few strategies read the market, you have to enrich yourself about many strategies to read charts and candlesYou will be able to be more effective if you can predict the future price movement and you need more than a chart or candle to do that, insider's information is very effective as it could move the price when the news is big.
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