This is the most amazing picture I have ever seen. How beautifully elaborated all major mistakes within few words
Topic: most amazing picture I have ever seen (Read 566 times)
This is the most amazing picture I have ever seen. How beautifully elaborated all major mistakes within few words
This is the most amazing picture I have ever seen. How beautifully elaborated all major mistakes within few words
They really mentioned out everything using this simple and beautiful graphic illustration. I like the last point that they have made there because I always use to tell my friends and some people the same thing and they will claim it’s not true; I tell them that analysis is a sure way to winning trades, that it is just like you’re throwing a dice and you’re not sure yet what number is going to come up, you are just sure that one of the six numbers will pop up, but you don’t know which it’s going to be, that’s what analysis is like.So, analysis doesn’t really help you, you’re still relying on your luck in some ways. If there was a strategy that works 100% then someone would have discovered that and by now everyone knows it and they will steady be winning, but nothing is like that. Which brings us to the number which is ‘Cutting Losses’, it’s very important ,because that’s going to save you when you put the wrong option.
That’s a picture worth sharing for a hundred times, and that picture can be a good NFT as well.
Its says a big message to everyone who are being too careless with their investments, a reminder that we should always follow in order to succeed. I always agree on cutting losses and trade with strategies, because its better to trade on quality than to trade most of the time.
Its says a big message to everyone who are being too careless with their investments, a reminder that we should always follow in order to succeed. I always agree on cutting losses and trade with strategies, because its better to trade on quality than to trade most of the time.
You will know that all of them is wrong if have read some books about trading especialy psychology trading. That book is so important for those who just new to trade because all the mistake that often happened to the trader has been there.
This is why, trading is not about you have money and you can get rich from it. I guess trading is far from that, although you have a wealth and you spend a lot of money to trade it will worthless if you don't have any knowledge. But, other when you have a small money but you have a lot of knowledge then you will be a rich man from trading.
This is why, trading is not about you have money and you can get rich from it. I guess trading is far from that, although you have a wealth and you spend a lot of money to trade it will worthless if you don't have any knowledge. But, other when you have a small money but you have a lot of knowledge then you will be a rich man from trading.
Emotional trading is the hardest thing to learn among all. I have been trading for many years but still, in some cases, I cant not control my behavior which lead to a lot of troubles for my funds and capital. Guess that im just too young and stubborn to get rid of those stupid emotion. BUt I believe that one day, I will be able to manage everything. Being able to earn with trading is my most desire dream
We can say that trading emotionally is a very wrong move in trading but honestly we can't get rid of it easily without a good realization about the mistakes that we did if we use our emotions on trading. Learning trading physcology can improve our trading habits and our mental state when we are in front of troublesome charts. I myself experienced a bunch of losses on trading because I did the same mistake but over the time accumulating experience and having different hard trading situations, I can tell myself I am doing well today and can resist using my emotion to fuel up my next move on trading.
Emotional trading is the hardest thing to learn among all. I have been trading for many years but still, in some cases, I cant not control my behavior which lead to a lot of troubles for my funds and capital. Guess that im just too young and stubborn to get rid of those stupid emotion. BUt I believe that one day, I will be able to manage everything. Being able to earn with trading is my most desire dream
The combination of pictures and words is the best way to make it easy for many people to understand. Because if we give advice regarding trading
mistakes to avoid in the form of words only, it will make some people ignore it. That's why what Binance is doing is extraordinary, it may seem simple
to some people, but the effect is huge. I believe that the way Binance delivers advice regarding the 7 common trading mistakes to avoid has had
a positive effect on some traders on Binance. Hopefully other platforms if they want to provide lessons and advice on doing what Binance is already doing.
mistakes to avoid in the form of words only, it will make some people ignore it. That's why what Binance is doing is extraordinary, it may seem simple
to some people, but the effect is huge. I believe that the way Binance delivers advice regarding the 7 common trading mistakes to avoid has had
a positive effect on some traders on Binance. Hopefully other platforms if they want to provide lessons and advice on doing what Binance is already doing.
This is the most amazing picture I have ever seen. How beautifully elaborated all major mistakes within few words
Same with the traffic sign-age but it is not amazing, instead its just a normal sign for me and nothing's wrong with this sign.
But anyway, this is not apply here so far, isn't that right? Although, all the images are quite good and suitable to its meaning
anyway.
Indeed, these are common mistakes of most traders. I focus in particular on the two errors, "Emotional Trading" and "Blindly Following Other Traders" because they negatively affect the trader greatly. Emotional trading causes you a lot of losses because it follows emotion and not technical analysis, as well as following others Blindly, especially the recommendation channels in the Telegram, can cause you a lot of losses.
And that's why basically majority of those currently in the trading industry don't do quite well for themselves. Many so called traders today are guilty of all or most of the highlighted mistakes in the OP most especially those you highlighted. Humans are becoming so lazy that we now prefer to get everything offered to you on our table instead of working towards those things ourselves.
Many are willing to pay thousands of dollars if you'll be supplying them trades signal instead of using those funds to go learn how to interpret charts, studying TA and becoming a pro themselves. Just like with trade, same thing apply to investing, all over the web, we have those claiming to be professional investor and gem givers because they know their targeted audience are are available.
Being lazy or just simply do like on having simple work or doesnt really like for their hands to get wet on doing hard work is a common behavior or characteristics of some people when it comes to investment.
They do just love to earn big money without doing much work which would really result into these kind of outcomes and later on they do realize that they are doing wrong and it shouldnt
really be on that way.
legendary
Activity: 2478
Merit: 4341
eXch.cx - Automatic crypto Swap Exchange.
Indeed, these are common mistakes of most traders. I focus in particular on the two errors, "Emotional Trading" and "Blindly Following Other Traders" because they negatively affect the trader greatly. Emotional trading causes you a lot of losses because it follows emotion and not technical analysis, as well as following others Blindly, especially the recommendation channels in the Telegram, can cause you a lot of losses.
And that's why basically majority of those currently in the trading industry don't do quite well for themselves. Many so called traders today are guilty of all or most of the highlighted mistakes in the OP most especially those you highlighted. Humans are becoming so lazy that we now prefer to get everything offered to you on our table instead of working towards those things ourselves.
Many are willing to pay thousands of dollars if you'll be supplying them trades signal instead of using those funds to go learn how to interpret charts, studying TA and becoming a pro themselves. Just like with trade, same thing apply to investing, all over the web, we have those claiming to be professional investor and gem givers because they know their targeted audience are are available.
Indeed, these are common mistakes of most traders. I focus in particular on the two errors, "Emotional Trading" and "Blindly Following Other Traders" because they negatively affect the trader greatly. Emotional trading causes you a lot of losses because it follows emotion and not technical analysis, as well as following others Blindly, especially the recommendation channels in the Telegram, can cause you a lot of losses.
In crypto we got crazy leverage up to 125x even and it can make an account evaporate in an instant. Even many Forex brokers in the past had lowered their leverage because too many people were losing money and forex barely moves on a day to day basis, crypto is completely opposite.
I got you covered here, Sergeant.
https://finance.yahoo.com/amphtml/news/chinese-bitcoin-trader-commits-suicide-121816354.html
Remember a 42yo guy named Hui Yi who traded his user's funds (BTC2000) with a 100x leverage and got liquidated as well as committed suicide? It's not unnatural that people trade with emotions and can sometimes, even get flowed away within. So it's very much advisable to everyone not to add too much salt to the dish, or it may become highly saline which is bad for your health. Those who are clever enough will easily understand what I tried to convey here.
This is the most amazing picture I have ever seen. How beautifully elaborated all major mistakes within few words
Many people will keep on making these mistakes. Interestingly enough, after being in the crypto world for a while I realized something very upsetting, obviously there are some people who make these mistakes because they do not know any better and thats why they make these mistakes, but the reality is that we have a lot of people who make these mistakes while also knowing these things. You may think if they know these things and even tell others to be careful about it, why do they not act carefully about it?Well, reality is that we are talking about humans here and in human nature making a mistake caused by greed is something and people feel greedy and suddenly end up becoming a noob all of a sudden at the face of a potential profit. Obviously we are not seeing too many of them these days but we still have a lot of experienced people get loss in search for a profit.
That photo fails to include the most common reason of why many traders end up blowing their accounts and its due to high leverage. Sure you can take some losses by overtrading or by being emotional. However the most common and fast way an account gets blown is due to high leverage.
In crypto we got crazy leverage up to 125x even and it can make an account evaporate in an instant. Even many Forex brokers in the past had lowered their leverage because too many people were losing money and forex barely moves on a day to day basis, crypto is completely opposite.
Its easy to get suckered in trading with a $1,000,000 position with only $10,000 in margin.
In crypto we got crazy leverage up to 125x even and it can make an account evaporate in an instant. Even many Forex brokers in the past had lowered their leverage because too many people were losing money and forex barely moves on a day to day basis, crypto is completely opposite.
Its easy to get suckered in trading with a $1,000,000 position with only $10,000 in margin.
I would not say that cutting losses is a mistake. It is possible that for coins where quantity is not limited, such as XRP for example, cutting losses is even necessary, but as history shows, Bitcoin's price is still reaching a new ATH, so in my opinion it is better to wait and sell at a profit than cut losses .
I agree with you, cutting losses is very dangerous because that's exactly what whales want you to do when they trigger a bear trap, they want to fear weak hands in order to push them to sell at a lower price than the actual price. And unfortunately it's a very common practice in the crypto universe, the one who sold bitcoins each time there has been a dip has made a very poor operation till now.
No one can't deny that it came from Binance. 
That's why majority of people prefer binance than other exchange platforms, because they do have this amazing guides.
Most people actually get caught by their emotions. And I admit I am too, but not all the time. I now know how to handle my emotions unlike during my first time trading in crypto market. I remember how I lost almost 100$ that time investing in token majority of my friends had told me. I should have not listen to them, and rather stick to my trading plan and strategy. My emotion was driven by other people's opinion, and it broke me. But thanks to them, they taught me a lesson.
That's why majority of people prefer binance than other exchange platforms, because they do have this amazing guides.
Most people actually get caught by their emotions. And I admit I am too, but not all the time. I now know how to handle my emotions unlike during my first time trading in crypto market. I remember how I lost almost 100$ that time investing in token majority of my friends had told me. I should have not listen to them, and rather stick to my trading plan and strategy. My emotion was driven by other people's opinion, and it broke me. But thanks to them, they taught me a lesson.
legendary
Activity: 3010
Merit: 1028
Leading Crypto Sports Betting & Casino Platform
Emotional trading always gets me, it could indeed influence our decision to become worse and I think it also covers other mistakes that are being pointed out like for example not cutting loses when the dumping of certain coin is imminent because we're in fear its gonna go back up again etc, over all the worst mistake that I've experienced myself.
This is the most amazing picture I have ever seen. How beautifully elaborated all major mistakes within few words
Since it's not you who has made this picture, I strongly recommend you add the source.
It looks to be from Binance, I don't know if it's the website or the twitter or whatever.
...And get used to always post the source of whatever you copy from others.
I don't make any trading mistakes, never! Because i follow my foolproof method below..
1. Never cut loses, got to chase them loses
2. 24/7 trading is the only way
3. Really stressed right now, but that will help me trade better
4. Don't tell me why, just tell me how to make more profit. I know best anyway
5. I don't care what the market is doing, crisis trading and let it ride
6. Just tell me what to trade and i will, i trust anyone on the net 100%
7. I think i remember my analysis is foolproof, so all will work out in the end
(I am not qualified to provide trading advice)
1. Never cut loses, got to chase them loses
2. 24/7 trading is the only way
3. Really stressed right now, but that will help me trade better
4. Don't tell me why, just tell me how to make more profit. I know best anyway
5. I don't care what the market is doing, crisis trading and let it ride
6. Just tell me what to trade and i will, i trust anyone on the net 100%
7. I think i remember my analysis is foolproof, so all will work out in the end
(I am not qualified to provide trading advice)
I would not say that cutting losses is a mistake. It is possible that for coins where quantity is not limited, such as XRP for example, cutting losses is even necessary, but as history shows, Bitcoin's price is still reaching a new ATH, so in my opinion it is better to wait and sell at a profit than cut losses .
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