Topic: Mistakes when trade coin - page 6. (Read 22492 times)
I agree with many comments above in which it was said that the main mistake in trading coins is greed.
Yes there are many mistakes when we trade our coin and as you said one of the reason why we mistake in our trading is because we are lack of knowledge on how to trade this is the most common mistakes beginners done they trade their coin without proper knowledge on it they do not know if the coin have a potential or another kind of shitcoin. so let's always have a look background first in our coin before investing on it or make trade.
We neglect such thing to happen, in fact we've been experiencing it before we came into of what we are now. All the mistakes we have been done could be a sort of learnings and from that we became strong and not afraid to face another challenge. Though it is risky but I've found myself comfortable.
Sometimes many trader aims too high. They want to have 100% profit on the coin that they are trading. Even if that coin don't have a good future.
I would also add here the item "Trade in emotions." Most traders lose their money precisely because they trade on emotions. Therefore, this item should be the very first.
good point , just some more extra mistakes :
1. Don't put you stop loss too narrow
2. don't measure the depth of a river with your both legs
and the last thing is
3. losing is part of trading , if you don't expect to lose at all , you've got it wrong.
1. Don't put you stop loss too narrow
2. don't measure the depth of a river with your both legs
and the last thing is
3. losing is part of trading , if you don't expect to lose at all , you've got it wrong.
3. losing is part of trading , if you don't expect to lose at all , you've got it wrong.
This is the factor i do see on where most traders or on new ones who do make trades and they do expect that they wont make any loss. This kind of mentality isnt fitted for trading and its really wrong to have that expectation because losing is an inevitable thing.Trial and Error would really be experienced therefore you should really know to adjust yourself no matter what instances you would face off along the way.
A lot of newcomers here in crypto seem to have such mentality. Perhaps the biggest force that pulled them into crypto is not the technology nor even the future of crypto becoming the main currency of the world, but the misleading promise of easy money. It seems they have got it all wrong. They might be thinking that the road to becoming rich is easiest when you get into cryptocurrency. They are definitely wrong if they thought of it. The result of such mentality is panic selling.
The main mistake of most newcomers is selling on the drawdown of bitcoin. The main thing is to wait for the right moment, the market is cyclical.
mistakes when trading can occur because they cannot control their emotions when they see price changes down, so they sell their assets without considering other possibilities
The biggest mistake when trading coin is overheating, can not wait for good price and so will sell at unreasonable price, low price makes your sales quite low. So consider the market is hard.
trading is a round of experts and numerous individuals did not have any desire to invest energy learning and build up their abilities to exchange experts. I have invested a great deal of energy to demo exchange and one of the significant missteps I made some time is clicked purchasing when really my choices is to click offering. Error are band to happen yet the experts presently how to oversee it further bolstering their good fortune.
One of the mistake is to buy at high price and being too hasty to sell even when the price is low, it actually takes patient to avoid this mistake.
There are some things that are too basic:
- Lower your trading frequency.
- Be serious about the market, otherwise, you will not get the money from it.
- Placing false positives can destroy your account.
- The market is always moving farther than you think.
- Take risks and keep your confidence.
- Trust your method.
- Lower your trading frequency.
- Be serious about the market, otherwise, you will not get the money from it.
- Placing false positives can destroy your account.
- The market is always moving farther than you think.
- Take risks and keep your confidence.
- Trust your method.
The greatest mistake here is to believe in your luck and avoid self-education. to become a successful trader, you should get knowledge. learn everything about the market, learn the terms that are used here, study the crypto world.
The mistake that i made oftenly that is the second mistake, the goal is too big profit (greedy). it is hard to control our emotion when the price getting higher, i often wait and wait more then the price fall again drastically and i sell my coin when the price down. I won't repeat that mistake, i try to be satisfied with little profit.
good point , just some more extra mistakes :
1. Don't put you stop loss too narrow
2. don't measure the depth of a river with your both legs
and the last thing is
3. losing is part of trading , if you don't expect to lose at all , you've got it wrong.
1. Don't put you stop loss too narrow
2. don't measure the depth of a river with your both legs
and the last thing is
3. losing is part of trading , if you don't expect to lose at all , you've got it wrong.
3. losing is part of trading , if you don't expect to lose at all , you've got it wrong.
This is the factor i do see on where most traders or on new ones who do make trades and they do expect that they wont make any loss. This kind of mentality isnt fitted for trading and its really wrong to have that expectation because losing is an inevitable thing.Trial and Error would really be experienced therefore you should really know to adjust yourself no matter what instances you would face off along the way.
I think that exactly the lack of knowledge is our greatest enemy. You have to learn a lot before you start trading, otherwise, you are supposed to lose everything.
good point , just some more extra mistakes :
1. Don't put you stop loss too narrow
2. don't measure the depth of a river with your both legs
and the last thing is
3. losing is part of trading , if you don't expect to lose at all , you've got it wrong.
1. Don't put you stop loss too narrow
2. don't measure the depth of a river with your both legs
and the last thing is
3. losing is part of trading , if you don't expect to lose at all , you've got it wrong.
Another common mistake which people often do is they listen to other people and dont make their own research. I f they buy something they sell their bag when most of the people are selling and buy again when most of the people are buying. They dont make their own strategies and follow the trend for little profits
My main mistake in trading is when I depart from the trading plan, in which the entry and exit points are prescribed. Usually this leads to negative results. I try to eliminate mistakes, but it does not always work out.
I dont know how to change my mind when trading, greedy is my big enemy in trading. I try to change it but my mind always thinking the price will going up and up again, and finally turn in to bearish. Need a few years for me to learn more and manage about my psycology in trading. Hopefully by continously learn how to manage that emotion, i can make good profit in trading later by consistent.
I want to add some point about stop loss , Using stop loss is a good idea but don't put your stop loss too narrow , Most of the times retrace passes the narrow stop loss and usually it comes with losing money!
But it is difficult to determine the stop loss, must have many years experience in the new market easily identified.is easy but doing is extremely difficult. So let's improve our experience every day. Jump to: