Reasons for traders to look at! - page 6.

TravelMug

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Quote from: milewilda on December 24, 2019, 05:13:44 PM

Quote from: Danumsigwasan on December 24, 2019, 11:28:00 AM

When we talk about trading whether it’s Forex or Crypto, there are some very common reasons why people tend to struggle.

So that’s take a quick look at what those reasons could possibly be at https://www.qatarday.com/blog/information/4-reasons-why-youre-not-making-money-with-your-forex-trades/69233

Although, this is not going to turn you into a professional overnight, but strictly following these are ways you could begin the long journey to the destination you want to reach.

Lets just point out on whats being mentioned on the article.

=Overtrading from being overly confident
=Inadequate capitalization
=Not adapting to market conditions
=Being motivated by greed

I highly agree with these points and one thing which is important to avoid is that on that #4
yet any actions driven or motivated by greed will really result into a disaster.

On that number 4, I think we should used our logical thinking here and not to be carried by our greed. Number 1 though, I must say that I'm guilty as well, being confident that I wouldn't lost in this market, so it's a hard lesson.

Number 2? I guess we can start with small capital and try to get it multiply over time. I believed most of us did that, We begin with small capital we earn here (sig campaigns, bounty hunting) and used that as a stepping stone. Then we trade our earnings, and make the best out of it.

wajik-tempe

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Quote from: Danumsigwasan on December 24, 2019, 11:28:00 AM

When we talk about trading whether it’s Forex or Crypto, there are some very common reasons why people tend to struggle.

So that’s take a quick look at what those reasons could possibly be at https://www.qatarday.com/blog/information/4-reasons-why-youre-not-making-money-with-your-forex-trades/69233

Although, this is not going to turn you into a professional overnight, but strictly following these are ways you could begin the long journey to the destination you want to reach.

All of them could be concluded as less knowledge and more greed. We should be more patient in trading and also we should learn as much as possible anything realted to the market and the coins that we trade. If we're just do a blind trade and hoping for a luck, maybe we'll get profits by luck at first but we must be ended up loss.

maxreish

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Aim a reasonable profit.

I just highlighted that one I have read in the article. It's kinda true that there is also a good side of being a greedy one. Aiming not only as small trader but to aim a successful trader with enough profits.

Overconfident

I can tell you that it is hard to be overly confident trading. When you thought you are sure of what you are doing, think twice. I usually experienced this and we can't really be so sure about the market because of the sudden sideways.

Hallmader

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Quote from: Danumsigwasan on December 24, 2019, 11:28:00 AM

When we talk about trading whether it’s Forex or Crypto, there are some very common reasons why people tend to struggle.

So that’s take a quick look at what those reasons could possibly be at https://www.qatarday.com/blog/information/4-reasons-why-youre-not-making-money-with-your-forex-trades/69233

Although, this is not going to turn you into a professional overnight, but strictly following these are ways you could begin the long journey to the destination you want to reach.

It is hard or even impossible to become a professional trader without an actual mentor or formal training. You cannot learn everything all by yourself. I tried learning crypto trading alone and I failed. I even failed countless of times after I had a few trader friends to compare my analysis with. In sum, my trading experience was not fun but interesting. If one has the perseverance and determination, he should be undergoing a formal trading or mentoring to succeed.

Yamifoud

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Quote from: Danumsigwasan on December 24, 2019, 11:28:00 AM

When we talk about trading whether it’s Forex or Crypto, there are some very common reasons why people tend to struggle.

So that’s take a quick look at what those reasons could possibly be at https://www.qatarday.com/blog/information/4-reasons-why-youre-not-making-money-with-your-forex-trades/69233

Although, this is not going to turn you into a professional overnight, but strictly following these are ways you could begin the long journey to the destination you want to reach.

Losses will always be a part of the trader's life, in fact, losing is a way also for them to learn something and succeed later. And most of the reason why they suffer losses is because of market adjustment/adaptability. I know it was hard to adjust especially when you are expecting too much but in the end, it was far from the way we think of. Not surprising but it makes people paralyze and disappointment.

milewilda

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Quote from: Danumsigwasan on December 24, 2019, 11:28:00 AM

When we talk about trading whether it’s Forex or Crypto, there are some very common reasons why people tend to struggle.

So that’s take a quick look at what those reasons could possibly be at https://www.qatarday.com/blog/information/4-reasons-why-youre-not-making-money-with-your-forex-trades/69233

Although, this is not going to turn you into a professional overnight, but strictly following these are ways you could begin the long journey to the destination you want to reach.

Lets just point out on whats being mentioned on the article.

=Overtrading from being overly confident
=Inadequate capitalization
=Not adapting to market conditions
=Being motivated by greed

I highly agree with these points and one thing which is important to avoid is that on that #4
yet any actions driven or motivated by greed will really result into a disaster.

mbakruroh

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People go off from dream and ours is same, profit. The journey is not easy but some people stay focus because become trader is their dream. They can learn so much knowledge to get success in different way, far from reality job near them. This struggle need time, passion and fund to start but never let your emotion take control your mind. Follow your rules and see you next year.

AniviaBtc

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Quote from: pajak666 on December 24, 2019, 01:40:27 PM

Quote from: panganib999 on December 24, 2019, 12:02:31 PM

Isn't number 1 and 4 almost the same? Like the idea of over trading happens because greed overcomes your rationality of deciding to trade slowly and effectively. Also, the 4 given are mostly mistakes made by newbies. The struggles occur because of their lack of experience and knowledge regarding how to trade and so, problems occur, so simplest solution is to let experience take its place, and gradually, newbies that trade would slowly learn the advantages and disadvantages of the certain actions they do, thereby improving their efficiency as traders.

Greed and boosted ego aren't necessarily the same thing. You can do many greed mistakes while still being not being overconfident at all. Also being skewed with your confidence doesn't mean you will be greedy. As said, it's most important to take the learning process slow and use the smaller possible amount of money that makes you 'feel' the loses but is not gonna make you broke if you had to reload a few times. You will not become good trader working on millions if you can't profit on $10 first. Also the best thing is you can get the experience and knowledge that will grant you good position in the industry without even risking a dollar while learning. Paper trading as much as it is boring, is the best teacher out there.

I think greed and boosted is the same because these are both urging you to trade more and more without thinking. You should need to think first even if you're on fire trading a certain amount of money. You don't need to rush because the more you rush, the more you will lose.

Always remember that greed is a bad thing in trading. Controlling emotions and self-discipline is very basic or fundamental when it comes to trading.

pajak666

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Quote from: panganib999 on December 24, 2019, 12:02:31 PM

Isn't number 1 and 4 almost the same? Like the idea of over trading happens because greed overcomes your rationality of deciding to trade slowly and effectively. Also, the 4 given are mostly mistakes made by newbies. The struggles occur because of their lack of experience and knowledge regarding how to trade and so, problems occur, so simplest solution is to let experience take its place, and gradually, newbies that trade would slowly learn the advantages and disadvantages of the certain actions they do, thereby improving their efficiency as traders.

Greed and boosted ego aren't necessarily the same thing. You can do many greed mistakes while still being not being overconfident at all. Also being skewed with your confidence doesn't mean you will be greedy. As said, it's most important to take the learning process slow and use the smaller possible amount of money that makes you 'feel' the loses but is not gonna make you broke if you had to reload a few times. You will not become good trader working on millions if you can't profit on $10 first. Also the best thing is you can get the experience and knowledge that will grant you good position in the industry without even risking a dollar while learning. Paper trading as much as it is boring, is the best teacher out there.

acdc

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I think the most important thing to become a trader is to control your emotions. Many new traders often let their emotions overwhelm and they often make the wrong decisions. If you have negative thoughts while trading, it is best to stop and resolve those emotions before returning to your trade.

panganib999

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Isn't number 1 and 4 almost the same? Like the idea of over trading happens because greed overcomes your rationality of deciding to trade slowly and effectively. Also, the 4 given are mostly mistakes made by newbies. The struggles occur because of their lack of experience and knowledge regarding how to trade and so, problems occur, so simplest solution is to let experience take its place, and gradually, newbies that trade would slowly learn the advantages and disadvantages of the certain actions they do, thereby improving their efficiency as traders.

Danumsigwasan

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Activity: 253

Merit: 13

I am from Forex world.

When we talk about trading whether it’s Forex or Crypto, there are some very common reasons why people tend to struggle.

So that’s take a quick look at what those reasons could possibly be at https://www.qatarday.com/blog/information/4-reasons-why-youre-not-making-money-with-your-forex-trades/69233

Although, this is not going to turn you into a professional overnight, but strictly following these are ways you could begin the long journey to the destination you want to reach.

Topic: Reasons for traders to look at! - page 6. (Read 1220 times)