Mistakes need to avoid in day trading - page 8.

Caladonian

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Quote from: BUK2016 on February 09, 2019, 04:57:24 PM

Emotional trading in crypto and even stock market or forex is inevitable because your money is involved, so I don't see that point as valid or very important. Please you will need to correct your subject matter so that the question or what you are trying to let people know will be more clear.

When dealing with your hard earned money, its common with most traders to have this trying to protect their investment and wanted to earned profits,
emotionless trading can be learned somehow but hard to really stabilize, we are working with our money and if we wanted to avoid mistakes we need
to have lots of things to consider.

The list might bring attentions but traders have its own ways to make it much better.

deppil

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Quote from: Slow death on February 08, 2019, 04:35:05 PM

Quote from: Findingnemo on January 31, 2019, 01:23:33 PM

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.

buy low and sell high, if the price fell more than 5% then the person buys and expects the price to increase and sell, and repeat the same process. The biggest headache the person will have is the choice of the coin. I find it very difficult to trade for pairs of BTC - Altcoins. I get hours on the computer and I do not see many movements when they are BTC - Altcoins pairs. so I prefer the pair BTC - USDT

Sometimes this strategy works only for a few pairs, such as BTC-USDT and several other coins that have large marketcaps, so that the movement is fast you can apply this method, but you should to have another strategy, just in case maybe that strategy does not work

BUK2016

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Emotional trading in crypto and even stock market or forex is inevitable because your money is involved, so I don't see that point as valid or very important. Please you will need to correct your subject matter so that the question or what you are trying to let people know will be more clear.

carter34

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Quote from: ?? on ??

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.

To this, I think the solution is to invest or trade as you can bear the loss. That is, stake as you can risk. Being greedy in trade is one big problem that leads to loses. So, if one can avoid being greedy, you are on the road to better strategy.

Thanasis

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Quote from: ?? on ??

Quote from: nydiacaskey01 on January 31, 2019, 05:33:54 PM

Quote from: Findingnemo on January 31, 2019, 01:23:33 PM

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.

Been doing those before. Long time ago and a long story while I was still learning day trading. It wasn't worth it but hey it's a knowledge that I could use whenever the market somehow smiles upon us soon. I was also using some tools like the TAs just for the sake of an indicator of selling and buying. The graphs inside the TAs were really showing something through its curves and I sell whenever it touches my satisfaction line.

Trusting the indicators much will also make us to be in loss,just decide based on the market condition and make the more profits.Each trader look for most profits but the smart one will look for some profits at most instances so that he have more chances of making profits with less risk.

BlackFor3st

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Quote from: ?? on ??

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.

None of us excluding "satoshi" knows the future of cryptocurrencies. Risk always remains constant and the chances to bear profit is directly proportional to the risk we take. The more risks we take the more profits we have and the same vice-versa.
But yet some small mistakes like try to be patient, do not be greedy, etc can be kept into consideration to make evenly high profits.

ShadowBits

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Quote from: Findingnemo on January 31, 2019, 01:23:33 PM

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.

It is easy to say but also hard to do. All you have to do is trade all you can until you will already know what are you doing with it and of course you only need to put a small amount of funds if you are just a beginner.

Kelvinid

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Quote from: asyakashi on February 08, 2019, 06:15:21 PM

Quote from: Bagaji on February 08, 2019, 05:40:21 PM

Quote from: Findingnemo on January 31, 2019, 01:23:33 PM

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.

Some of your point are something that are inevitable when it come to trading. For example, one can only trade without emotion only when you are using your demo account to practice and not when you are using your real capital for emotion cannot be separated from trading when one using real money.

I agree more if the emotions are trained so they can be controlled. altcoin trading experience will form the ideal trading style.
and everyone has a different perspective in making a profit.

Our mind bonded with our emotion and it sometimes we can't think wisely as we are following of what we feel. As human, it is just normal but as we engage into trading, we should learn how to control it and have a positive outlook for the future. Looking a basis of our decision might give us a positive result and not just of what we feel.

asyakashi

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Quote from: Bagaji on February 08, 2019, 05:40:21 PM

Quote from: Findingnemo on January 31, 2019, 01:23:33 PM

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.

Some of your point are something that are inevitable when it come to trading. For example, one can only trade without emotion only when you are using your demo account to practice and not when you are using your real capital for emotion cannot be separated from trading when one using real money.

I agree more if the emotions are trained so they can be controlled. altcoin trading experience will form the ideal trading style.
and everyone has a different perspective in making a profit.

Bagaji

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Quote from: Findingnemo on January 31, 2019, 01:23:33 PM

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.

Some of your point are something that are inevitable when it come to trading. For example, one can only trade without emotion only when you are using your demo account to practice and not when you are using your real capital for emotion cannot be separated from trading when one using real money.

Slow death

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Quote from: Findingnemo on January 31, 2019, 01:23:33 PM

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.

buy low and sell high, if the price fell more than 5% then the person buys and expects the price to increase and sell, and repeat the same process. The biggest headache the person will have is the choice of the coin. I find it very difficult to trade for pairs of BTC - Altcoins. I get hours on the computer and I do not see many movements when they are BTC - Altcoins pairs. so I prefer the pair BTC - USDT

nomenclatur

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Fomo which often happens is when we cutloss without patience, we need to pay attention to the support line even in 1 week to make orders that can hang can raise prices or not, no need to rush and we only need to reduce/change the lowest profit percentage while looking further analysis of current price realities. The mistake trading that happens is not necessarily the next trade reference, there must be a different pattern to change things that can be significant

deppil

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Quote from: Findingnemo on February 05, 2019, 02:46:28 AM

Quote from: Matthewmorris4 on February 04, 2019, 12:19:31 PM

Enter the market for daily trading can actually be a pretty fatal mistake, Also if you dare to risk any amount of it, actually no one can't afford their money.
I prefer to choose not to day trade even if i understand the condition and market circumstance

If you don't have any dare to take such risk then you can't make anything so you will be a slave for some boss forever?

Day trading is more profitable with crypto currencies but not always that is the problem with it.

I think it's not a fatal mistake because in day trading the possibility of profit will depend on your knowledge,skills and experience. so the risk can be smaller if you have more skills.
you're right if you don't take risks then you won't be able to get big profits

malphite534

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If you are afraid to invest in trading it's a big warned for you to stop in trading because it is a sense that your money gonna lost and not more experience.

goaldigger

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Quote from: Findingnemo on January 31, 2019, 01:23:33 PM

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.

All you said is correct and also dont believe quickly on what you hear and read on thr news regarding cryptocurrency. Newbies are the ones who easily get influenced by. A little negativity can turn them down so it greatly affects them. Ask first to your senior or in this community to check the legitimacy

TheUltraElite

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So anyway, I applied as a merit source :)

Quote from: zhekinsp on February 06, 2019, 03:05:01 AM

One of the common mistake found on the not successful cryptocurrency day traders are not enough patience,they will just keep buying and selling without having proper profits margin which could results up in eating their capital in long term.

You are getting a false opinion. A person who is day trading is supposed to be looking more at the TA and who the whales are dumping or pumping more than the average hodlers out there. Day trading is much more risky than hodling and these people simply follow every pump that happens and cash it out to make money. Of course they may seem impatient but thats how they are functioning to make money.

But again if you talk about capital management most day traders will not spend more than 10% of their capital behind one position. They know how to manage their money because without it they would not become day traders in the first place.

Findingnemo

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Quote from: South Park on February 06, 2019, 12:53:44 PM

Quote from: Findingnemo on January 31, 2019, 01:23:33 PM

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.

The last of your points is by far the most important, there are too many people trading cryptocurrencies without a clear idea of what they are doing then they get humbled by the market when they lose their money but at that point it is too late they have already lost so much money that no amount of knowledge and experience will help them to recover quickly from those losses, so the best thing to do is to learn technical analysis first and then once you are good at it you can trade.

But "prevention is better than cure" so the traders need to learn all the necessary things which is needed for complete trading then only start risking your money because I feel it is so hard to recover from the losses once we made it.

Distinctin

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Quote from: zhekinsp on February 06, 2019, 03:05:01 AM

One of the common mistake found on the not successful cryptocurrency day traders are not enough patience,they will just keep buying and selling without having proper profits margin which could results up in eating their capital in long term.

That's because they don't have plan and not enough knowledge regarding trading. It is difficult for them to grow if they even calculate their trading and to see if we are gaining or not.
Patience is come into emotions which they aren't controlling it and they just let it to happen with them.

South Park

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Quote from: Findingnemo on January 31, 2019, 01:23:33 PM

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.

The last of your points is by far the most important, there are too many people trading cryptocurrencies without a clear idea of what they are doing then they get humbled by the market when they lose their money but at that point it is too late they have already lost so much money that no amount of knowledge and experience will help them to recover quickly from those losses, so the best thing to do is to learn technical analysis first and then once you are good at it you can trade.

zhekinsp

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One of the common mistake found on the not successful cryptocurrency day traders are not enough patience,they will just keep buying and selling without having proper profits margin which could results up in eating their capital in long term.

Topic: Mistakes need to avoid in day trading - page 8. (Read 1259 times)