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 560 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: 2450
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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 .
Honestly these traits sometime are inevitable. We can't master all the perfect recipe for trading. Even we say that we knew the market possible motion, is unexpected arrived based on our prediction and analysis so these traits happened without us noticed it made us did it.
Trading is really a hard task if we are still on the range of learning and mastering it. Cause even professional or expert got loss huge with one of these reason.
I agree and the one who can master most of the problems is the better trader while someone who might work on a few mistakes but not is classified as an average trader and there are newbie traders who haven't even realized their mistakes are at the bottom of the talent tree.Trading is really a hard task if we are still on the range of learning and mastering it. Cause even professional or expert got loss huge with one of these reason.
It's like solving puzzles and the one who places the right pieces at the right place quicker has the highest efficiency while some still cannot figure out.
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.
Most of the points are interconnected to each other because someone who trades too often is usually an emotional trader and does not analyze coins and tokens before he trades them or just follows others and buys some tokens. All these points are closely related to each other and controlling just one aspect strictly can actually pull you out of the whole. 
Yeah, the graphic is from Binance as the top left corner has their logo. Now, I want to thank them because they have outlined the mistakes almost accurately, but I would be rather more interested if they could create some educational videos about how to overcome these problems along with this chart. Pointing out mistakes is one of the easiest things to do, even easier when we are asked to point those in someone else but not us.
Emotional trading is such a thing that when you are doing it, you won't realize unless someone who knows better comes and points it out specifically. Almost all of the traders in crypto have gone through times when we buy some coin because everyone was buying it, like right now it can be said for dogecoin, without actually analyzing, which is what emotional trading/investing actually is.
Emotional trading is such a thing that when you are doing it, you won't realize unless someone who knows better comes and points it out specifically. Almost all of the traders in crypto have gone through times when we buy some coin because everyone was buying it, like right now it can be said for dogecoin, without actually analyzing, which is what emotional trading/investing actually is.
Over so many times, I had these problems but I opted out from some of them over time as much as I continue to trade, my first problems when trading was;
- Emotional trading.
- Cutting losses.
These above drains down my portfolio until I came to understand that not being emotional and cut losses is a sure way to win trading mistakes.
Also another mistake a trader does is "failure to take profit" no matter the amount of profit gained so far in a trades, be it $5 or less, it's appreciable. This is another problem to talk about so traders can have a stable portfolio and good trading experience.
- Emotional trading.
- Cutting losses.
These above drains down my portfolio until I came to understand that not being emotional and cut losses is a sure way to win trading mistakes.
Also another mistake a trader does is "failure to take profit" no matter the amount of profit gained so far in a trades, be it $5 or less, it's appreciable. This is another problem to talk about so traders can have a stable portfolio and good trading experience.
Is a great image, it shows all the mistakes that traders do. And the only way to learn is by our own mistakes, but for me is not the most amazing pic. I like more this kind of pic where you see a crazy wall on the markets.
For me that's the amazing face of trading when you know the price only can move for one side.
For me that's the amazing face of trading when you know the price only can move for one side.
This is a common problem for all traders and one of them is bound to happen. I have emotional problems that sometimes cannot be controlled and eventually forget the initial trading strategy that must be obeyed. Too emotional is not good. and also trading too often without looking at the conditions is also not good. Too often trade and end up losing. it's so annoying.
Any mistakes that have been made that are included in the image can of course be overcome. Mistakes make us learn not to repeat them and correct them.
Any mistakes that have been made that are included in the image can of course be overcome. Mistakes make us learn not to repeat them and correct them.
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
LOLplease let me know if you want to sell some coins in the future, so I can hold mine, like a reverse signal
I like the sarcasm. FYI, I have sold some ADA at $1.035 a few weeks ago and then the price went over $1.50 in the next few days :-D
So, if you have ADA then hold them :-P
PS: Those ADA were a sudden discover on the other day. I did not know that I had those. They were bought in last January 2018 and I forgot about them all those days until a few weeks before I sold them.
I've sold my MANA tokens at $0.65 each.
just a few hours before it hits the new ATH at $1.18.
I bought it at $0.39. I should get more than 300% if I did nothing.
Silence is gold, but doing nothing is diamond.
I should remind you earlier about it, so you can take advantage by activating the reverse signal from me
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
LOLplease let me know if you want to sell some coins in the future, so I can hold mine, like a reverse signal
I like the sarcasm. FYI, I have sold some ADA at $1.035 a few weeks ago and then the price went over $1.50 in the next few days :-D
So, if you have ADA then hold them :-P
PS: Those ADA were a sudden discover on the other day. I did not know that I had those. They were bought in last January 2018 and I forgot about them all those days until a few weeks before I sold them.
I've sold my MANA tokens at $0.65 each.
just a few hours before it hits the new ATH at $1.18.
I bought it at $0.39. I should get more than 300% if I did nothing.
Silence is gold, but doing nothing is diamond.
I should remind you earlier about it, so you can take advantage by activating the reverse signal from me
This is the most amazing picture I have ever seen. How beautifully elaborated all major mistakes within few words
i can also relate in that picture, almost of the traders do that, emotionally trading is quite hard to resolve, dealing with losses causes stress and traders got emotional every day in trading crypto currencies. hopefully i can manage to avoid all of that. Lol.
I feel like this has been talked about a lot but I do not think that anyone turned that into a chart. Obviously it was binance that did it because they are very high quality, I have recently applied for a job there (remote) and seen their process and I can tell you that they pick their staff very very carefully, I realized I can't do it and gave up but I have seen what they want from people and I can say their staff definitely capable of doing something like this and even more.
These things could be changed or added more, we have like a book full of mistakes people do, we can explain the problems and basically have like a 100 page "what crypto traders should be careful about" book, it would be basically all explaining the same things we talked but it would be a great read for every newbie who starts trading in crypto, I think something like that is much needed.
These things could be changed or added more, we have like a book full of mistakes people do, we can explain the problems and basically have like a 100 page "what crypto traders should be careful about" book, it would be basically all explaining the same things we talked but it would be a great read for every newbie who starts trading in crypto, I think something like that is much needed.
Yes, it is a good picture. It would be wrong to say just good pictures because there is a lot of important information here. It is very useful for trade. Because people may forget that they have to face losses for these wrong trades. For those who are new, it will be very easy to understand by looking at the pictures. And it will also help those who trade regularly. For example - if they want to make a mistake while trading, then this picture will have a very good effect to avoid mistakes.
legendary
Activity: 2464
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Hire Bitcointalk Camp. Manager @ r7promotions.com
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
LOLplease let me know if you want to sell some coins in the future, so I can hold mine, like a reverse signal
I like the sarcasm. FYI, I have sold some ADA at $1.035 a few weeks ago and then the price went over $1.50 in the next few days :-D
So, if you have ADA then hold them :-P
PS: Those ADA were a sudden discover on the other day. I did not know that I had those. They were bought in last January 2018 and I forgot about them all those days until a few weeks before I sold them.
i guess that trading advices was from binance because of the logo but is the advice officaly came from there ? this is reliable than to the random trading advices scattered anywhere but why would they want to avoid us " trading too often " when there are verry active traders that treat trading as a daily job or a profession .
the other is " lack of care in extreme conditions " and they used an image of a cloud and lightning .
that makes me wonder if what they meant is a real weather
the other is " lack of care in extreme conditions " and they used an image of a cloud and lightning .
that makes me wonder if what they meant is a real weather
Emotional Trading.
Even pro traders cannot escape from that.
It's not something you could control whenever a dump or a pump happens.
Either you panic or you feel like regretting it in the future if you won't make a choice at that instance.
Sometimes it does save you, but mostly it wrecks the whole plan.
Even pro traders cannot escape from that.
It's not something you could control whenever a dump or a pump happens.
Either you panic or you feel like regretting it in the future if you won't make a choice at that instance.
Sometimes it does save you, but mostly it wrecks the whole plan.
While common trading mistakes are normally happening, those infographic advices should still be read to remind us traders especially those newbies to control our emotions during the trade.
And just let me add that riding the hype aren't also helping as there are many times that it was just a bait to follow the trend and be stucked on that entry because it eventually change suddenly afterwards. Cutting loss is also significant most certainly if you make a bad entry and in a verge of hitting the liquidation point.
And just let me add that riding the hype aren't also helping as there are many times that it was just a bait to follow the trend and be stucked on that entry because it eventually change suddenly afterwards. Cutting loss is also significant most certainly if you make a bad entry and in a verge of hitting the liquidation point.
Not Cutting Losses, made me lose almost 80% of assets in Altcoin in 2018-2019, always thinking the price would go up again but it turned out to be down and down. This is what traders must understand if they do not want to cut losses, especially when trading in altcoin pairs, they must be prepared to lose more than 50% of assets.
I think the title of this thread is too much because the points shown in the picture have also been discussed a lot and are not new, almost all traders understand this but often ignore it same with me.
I think the title of this thread is too much because the points shown in the picture have also been discussed a lot and are not new, almost all traders understand this but often ignore it same with me.
Almost as if it's a picture of what goes wrong with any kind of addiction (and trading is closely related to gambling addiction because people start believing in patterns even though most of it is randomness that we can never predict).
Know where you can go in and go out, and use what you can afford to lose:)
Know where you can go in and go out, and use what you can afford to lose:)
Honestly these traits sometime are inevitable. We can't master all the perfect recipe for trading. Even we say that we knew the market possible motion, is unexpected arrived based on our prediction and analysis so these traits happened without us noticed it made us did it.
Trading is really a hard task if we are still on the range of learning and mastering it. Cause even professional or expert got loss huge with one of these reason.
Trading is really a hard task if we are still on the range of learning and mastering it. Cause even professional or expert got loss huge with one of these reason.
Sensitive trading is my big problem. These 7 points are common and I already face such problems in business. When I buy a coin, Then I find more better coin for investment. This happens to me often.
Not cutting losses and being stubborn are like twins.
You became hard-headed thinking there will still be a chance for the coin you are supporting until you lose it all.
Been there before that's why I knew the feeling. But you learn from your mistakes.
Somehow it still happens until now. You just cannot let go of some things.
Maybe add the "Do not fall in love with the coin" thing.
You became hard-headed thinking there will still be a chance for the coin you are supporting until you lose it all.
Been there before that's why I knew the feeling. But you learn from your mistakes.
Somehow it still happens until now. You just cannot let go of some things.
Maybe add the "Do not fall in love with the coin" thing.
I think all point is very helpful for every traders, all common mistake are showing on this Image. Don't trade without any self analyzing or knowledge. Don’t follow other traders and don't panic on trading.
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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