Topic: most amazing picture I have ever seen - page 3. (Read 560 times)
I agree on everything on the list and those are the mistakes I’ve also experienced on my first months of my trading journey. Its normal for you to experience this one, just make sure that you learn along the road and you keep improving your trading skills so you can win on this market. Now, trading everyday is not that ideal so I think its time for me to analyze this one again.
Cutting lose is yeah important. However, we must know when is the right time to cut loss, or we must know at what rate we house set a certain stop loss in order to minimize the loss and then use the funds to another trading and get another profit.
Sometimes, it is also influenced by the panic condition, so, many people are cutting loss too early without any consideration.
Emotional trading is the most common mistake to have. Although it has been told that when you are entering in trading, you must have good emotional management, in fact, many people also enter trading is based on following others. So, basically, they don't have good basic emotional management.
Sometimes, panic, careless, emotional, angry, too greedy are part of them.
https://twitter.com/binance/status/1368109253957943303
Sometimes, it is also influenced by the panic condition, so, many people are cutting loss too early without any consideration.
Emotional trading is the most common mistake to have. Although it has been told that when you are entering in trading, you must have good emotional management, in fact, many people also enter trading is based on following others. So, basically, they don't have good basic emotional management.
Sometimes, panic, careless, emotional, angry, too greedy are part of them.
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.
Yes, you are right, this picture is taken from here:It looks to be from Binance, I don't know if it's the website or the twitter or whatever.
https://twitter.com/binance/status/1368109253957943303
That's an image from Binance, right? About trading too often, some traders really do it if they've decided it to be their full time job. And if they're making from it and others can't, they sure are experienced and understands the mechanics of it.
Following other traders blindly, yeah, this is a massive problem for most traders and newbies. They're buying almost everything that has been said to them by that guy without DYOR and TA.
Following other traders blindly, yeah, this is a massive problem for most traders and newbies. They're buying almost everything that has been said to them by that guy without DYOR and TA.
do you know the combo regarding trading according to that infographic?
being too stubborn by trading very often following analysis by other traders on social media.
this condition is based on my experience. yeah, I did that. not just in my early days in crypto, but sometimes I still do it these days.
FOMO, mostly in extremely hype things. I know it's bad, but we should follow the market right?
it happened to me too. almost in 90% of my trading activity.
please let me know if you want to sell some coins in the future, so I can hold mine, like a reverse signal
being too stubborn by trading very often following analysis by other traders on social media.
this condition is based on my experience. yeah, I did that. not just in my early days in crypto, but sometimes I still do it these days.
FOMO, mostly in extremely hype things. I know it's bad, but we should follow the market right?
-snip-
I do not have much ALTs but only very few of those I am okay to lose. So I do not care much about them. But I noticed when I feel like to sell I convince myself that this is the right time to sell. I do anything to divert my mind that yes THIS IS the right time. But when I sell in the next few hours or day the price of the coin goes even over 100%. :-D
I do not have much ALTs but only very few of those I am okay to lose. So I do not care much about them. But I noticed when I feel like to sell I convince myself that this is the right time to sell. I do anything to divert my mind that yes THIS IS the right time. But when I sell in the next few hours or day the price of the coin goes even over 100%. :-D
it happened to me too. almost in 90% of my trading activity.
please let me know if you want to sell some coins in the future, so I can hold mine, like a reverse signal
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.
Nice info-graphics, and I would say it boils down to emotions. If we don't know how to control it, most likely it will incurred lost in our end. In any case though, this summary shows the crypto trading is very difficult in the beginning, and you have to go to several stages, and it might take years to really be in control in our trading activity.
I would like to add some points in the list from my personal experience and suggested by many of traders
1) Diversification of your portfolio is integral part of trading because there is saying that "Don't keep all your eggs in one basket" because if one coins market crash you loose all your funds at one go.
2) Don't invest in shitcoins available in the market because they will not give you any return over your investments over time and you will incurr losses only.
1) Diversification of your portfolio is integral part of trading because there is saying that "Don't keep all your eggs in one basket" because if one coins market crash you loose all your funds at one go.
2) Don't invest in shitcoins available in the market because they will not give you any return over your investments over time and you will incurr losses only.
Two of them I do even I know that I should not do that.
- Emotional trading
- Lack of care in extreme condition
- Emotional trading
- Lack of care in extreme condition
if you only have 2 forbidden points and do it often, then how lucky you are. while here we still have all the points shown in the image above. I don't know, I remember what the initial word was from trading, market conditions will change all the theories and knowledge that I get. Most of us still have a hard time controlling the downturn in the market, for altcoins to be precise, because if for bitcoin, however much the drop, we would never worry.
But I noticed when I feel like to sell I convince myself that this is the right time to sell. I do anything to divert my mind that yes THIS IS the right time. But when I sell in the next few hours or day the price of the coin goes even over 100%. :-D
I think this has happened to anyone that trades often. Sometime when a coin rises by 20%, and then you stubbornly refuse to sell it expecting it to reach at least close to 100% in order to sell, the trend reverses and even the gains you would have initially made are all wiped off.So I always tend to look at the positive side, if I sold at 20%, but then the coin goes to 80%. It doesn't matter, I still made my 20%
On the opposite of "not cutting loss" is cutting loss too early, and then your coin rises up to the moon in the next minutes. I think a better description would be "no proper risk management" instead, where you know at which point you should take profit, cut-loss, sell some, average down, etc.
Btw, trading too often is not necessarily a mistake, especially if you run a bot.
Btw, trading too often is not necessarily a mistake, especially if you run a bot.
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Two of them I do even I know that I should not do that.
- Emotional trading
- Lack of care in extreme condition
I do not have much ALTs but only very few of those I am okay to lose. So I do not care much about them. But I noticed when I feel like to sell I convince myself that this is the right time to sell. I do anything to divert my mind that yes THIS IS the right time. But when I sell in the next few hours or day the price of the coin goes even over 100%. :-D
- Emotional trading
- Lack of care in extreme condition
I do not have much ALTs but only very few of those I am okay to lose. So I do not care much about them. But I noticed when I feel like to sell I convince myself that this is the right time to sell. I do anything to divert my mind that yes THIS IS the right time. But when I sell in the next few hours or day the price of the coin goes even over 100%. :-D
What is amazing in this picture that just lists common mistakes when trading? Everyone can do that, its just that this one is a pretty good graphic illustration. Also worth mentioning that there are a lot of mistakes not listed there and most words used in the infographic is not easily understandable when it comes to an average person, especially to those who have English as their second language.
This is the most amazing picture I have ever seen. How beautifully elaborated all major mistakes within few words
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