Reasons why they get it all wrong when trading.

doomloop

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Quote from: Alisha-k on July 10, 2021, 01:57:15 PM

Most often greed happens to be the killer for most traders. Some traders have good entry point , nice analysis and during the course of a trade happens to make good profit but would deliberately refuse to take profit due to greedy mind set. This emotional states would cause the trader to loose even the little profit made during this cause. I believe self dicipline as you rightly said @op is all that is needed to succeed as a trader

As traders, self discipline applies to everything we do. If you are not self disciplined then you’re lacking control and you end up making mistakes that you’re not going to like. That’s why you see a lot of traders who end up being frustrated and then they end up quitting as well.

When you’re a threat that you shouldn’t be greedy, the next thing is that you should also be ready to learn new things at all times: try to learn new things always and keep refreshing your memory. The market changes, every time we keep seeing new things coming into the market, so you have to be able to keep up with those changes and know what’s trending. Finally is good to avoid greed.

carrigan

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There are many reasons that can be your mistake when trading. Expectations that are too big with profits can also be a chasm for you, this is because you don't see it in terms of losses. Besides that, the lack of emotional control is also the reason you experience mistakes, many from beginner traders to even professionals who sometimes lack patience so they fail. Finally, you also have to really understand cryptocurrency and always learn from the mistakes you have made.

Lily Garver

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It is too difficult not to make mistakes, because the market is changing rapidly, there are many fake news, there are many scaring institutions, and many big whales who seduce you, it is difficult to find clear and correct in this space. I think we still have to learn" What not to do", then learn "what to do".

Sasdy

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Indeed, because of the panic and fuss, we make a lot of mistakes, which is why I first used a demo account, Amarkets, where I could learn to control myself so that I would not have problems on a real account.

TelolettOm

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The most reasons why traders often lose are because being panic when trading.
Many traders are panic when the price suddenly drops even with only a small percentage and then they are selling it all because they are afraid that the price will drop again and again. While it is only a lite bit drop and will be irising again sometime later.
And then, they are also too panic to buy the price when they see the price of a coin is rising up or pumping so highly, so they buy at the top price, and then the price drops drastically.
And about discipline, yes it also becomes a reason because, without any good discipline, traders will not be consistent enough

jossiel

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Quote from: Wawa2013 on September 11, 2021, 08:32:39 AM

Quote from: jossiel on September 11, 2021, 06:10:07 AM

Quote from: Ridi on September 06, 2021, 08:55:52 AM

Reasons why they get it all wrong when trading I think lack of knowledge, greedy plans, panic, impatience these are few main points which makes a wrong decision. 🙏

All of those are true.

I did most of those before and still some of it are still being done like being impatient and panicking. But it's not worse than before because I can manage to get close to my plans and follow it smoothly.

Impatience and panic are things that everyone must have done, and indeed these two things make us finally make the wrong decisions and
experience losses. That's why the importance of controlling emotions and always planning before trading is something that can prevent us
from losing. Because with controlled emotions and careful planning, we should be more patient and not panic when trading. I admit that everyone
needs a different process, so they don't panic and can be more patient, so I understand if occasionally you still do that. If it's true you can now
experience a change in a good direction, by being able to follow the plan you have made, it is a good achievement.

There is a process and time for it.

But when someone is still yet to advance and adjust with those factors and still keep on doing that mistake, the problem is on him and there's no way to change that by others but only him.

carlisle1

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Quote from: Smitty Werben Man Jensen on September 11, 2021, 11:37:11 AM

Quote from: zanezane on September 11, 2021, 07:20:01 AM

The reason that some traders especially those who aspire to be a good one gets wrong notion about trading is because most of them are mislead by the people who introduced them to crypto trading by hyping things for them and created an illusion that they're going to make a lot of money.

Investing or trading in cryptocurrencies can indeed make a lot of money,
but making profit in cryptocurrency is not something easy to do it requires skill,
besides that the risk is also high so when we make the slightest mistake it will make us lose money

if you understand the concept and you are well aware of how the volatility works, the chance to earn is very possible.

Misinterpretation is the number one killer of those who losses their money from this business, thinking that everything is easy
as it is, thinking that they have the same fate from those people who they heard about trading.

If you'll not go to focus, the chance to lose is also high. The risk is manageable if you know what you are doing.
buy and sell always depends on how you perform your trades.

bamb

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A lots of people are drawn to Cryptocurrency and bitcoin because someone somewhere told them how they can make quick money, the misrepresentation of Cryptocurrency is further fuel by ethereum smart contract platform, it is easy for anyone to create a token with bogus claims of value! Making money take time. Just like it is in offline work and business, you must be deliberate, discipline and know your onions as regards trading and investing in Cryptocurrency!

Smitty Werben Man Jensen

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Quote from: zanezane on September 11, 2021, 07:20:01 AM

The reason that some traders especially those who aspire to be a good one gets wrong notion about trading is because most of them are mislead by the people who introduced them to crypto trading by hyping things for them and created an illusion that they're going to make a lot of money.

Investing or trading in cryptocurrencies can indeed make a lot of money,
but making profit in cryptocurrency is not something easy to do it requires skill,
besides that the risk is also high so when we make the slightest mistake it will make us lose money

BitTraderCute

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Quote from: TimeTeller on September 10, 2021, 06:34:29 PM

Most traders are driven by their emotions that's why they incur losses if not handled properly.
And when it comes to crypto trading, most beginners are after for quick profit that they ended up being screwed.
A trader should know his plans before he even started trading, so in case he can always check again about his goals.
Rather than start without any direction at all, because that's when he can easily panic for what he may encounter during the actual trading.

emotion be uncontrolled thing that could destroy our trading and unfortunately less traders could handle their emotion. easy to be panic, stress when facing bearish market make them forget their goals involved in this market.

Quote from: zanezane on September 11, 2021, 07:20:01 AM

The reason that some traders especially those who aspire to be a good one gets wrong notion about trading is because most of them are mislead by the people who introduced them to crypto trading by hyping things for them and created an illusion that they're going to make a lot of money.

they only imagine about the positive side only ad forget about the worst scenarion that may happen to them. thinking could be rich man only in single be commoin imagination beginer.

Hypnosis00

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Quote from: zanezane on September 11, 2021, 07:20:01 AM

The reason that some traders especially those who aspire to be a good one gets wrong notion about trading is because most of them are mislead by the people who introduced them to crypto trading by hyping things for them and created an illusion that they're going to make a lot of money.

Then, from now on, newbies must have to stop doing but instead have their own research. They got fooled because they are too innocent with the market situation and for their mind thinking for easy money, quick returns and etc...And they forgot how scammers take advantage of this situation. I'd learn trading through watching online videos, reading books, and some advice from a friend, not from strangers.

If we are keen enough to secure our funds, then we should not tor rely on others so at the end of the day, we have nothing to blame for our mistakes but just ourselves.

Wawa2013

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Quote from: jossiel on September 11, 2021, 06:10:07 AM

Quote from: Ridi on September 06, 2021, 08:55:52 AM

Reasons why they get it all wrong when trading I think lack of knowledge, greedy plans, panic, impatience these are few main points which makes a wrong decision. 🙏

All of those are true.

I did most of those before and still some of it are still being done like being impatient and panicking. But it's not worse than before because I can manage to get close to my plans and follow it smoothly.

Impatience and panic are things that everyone must have done, and indeed these two things make us finally make the wrong decisions and
experience losses. That's why the importance of controlling emotions and always planning before trading is something that can prevent us
from losing. Because with controlled emotions and careful planning, we should be more patient and not panic when trading. I admit that everyone
needs a different process, so they don't panic and can be more patient, so I understand if occasionally you still do that. If it's true you can now
experience a change in a good direction, by being able to follow the plan you have made, it is a good achievement.

zanezane

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The reason that some traders especially those who aspire to be a good one gets wrong notion about trading is because most of them are mislead by the people who introduced them to crypto trading by hyping things for them and created an illusion that they're going to make a lot of money.

jossiel

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Quote from: Ridi on September 06, 2021, 08:55:52 AM

Reasons why they get it all wrong when trading I think lack of knowledge, greedy plans, panic, impatience these are few main points which makes a wrong decision. 🙏

All of those are true.

I did most of those before and still some of it are still being done like being impatient and panicking. But it's not worse than before because I can manage to get close to my plans and follow it smoothly.

TimeTeller

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Quote from: chanler on September 10, 2021, 06:25:56 PM

a trader must know very well what to do because every step taken will affect the assets owned. everything said is true and it can be concluded that being a good trader is not easy, it takes patience and vigilance in it. but if we can do that well then we will benefit. so it all depends on our attitude, because the assets we have are handled by us. don't forget to learn to observe and analyze the market well so that you can determine the right time to sell or buy crypto.

Most traders are driven by their emotions that's why they incur losses if not handled properly.
And when it comes to crypto trading, most beginners are after for quick profit that they ended up being screwed.
A trader should know his plans before he even started trading, so in case he can always check again about his goals.
Rather than start without any direction at all, because that's when he can easily panic for what he may encounter during the actual trading.

chanler

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a trader must know very well what to do because every step taken will affect the assets owned. everything said is true and it can be concluded that being a good trader is not easy, it takes patience and vigilance in it. but if we can do that well then we will benefit. so it all depends on our attitude, because the assets we have are handled by us. don't forget to learn to observe and analyze the market well so that you can determine the right time to sell or buy crypto.

LUCKMCFLY

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Quote from: tvplus006 on July 20, 2021, 04:21:41 PM

Quote from: Karish2return on July 20, 2021, 11:42:15 AM

Simple the main reason is greed, when we all get out of it, then only trading will be not that much difficult for us. And secondly in trading patience is very necessary, if we don't have patience during trading then it will give us more loss even. These two are are main reason when trading gone wrong according to my opinion.

Yes, greed and the desire to earn big money quickly are among the main reasons for losing money. But it is not limited to this only. You may not be greedy, but this does not guarantee that you will open orders in the right direction of the market movement. This means that you at least need knowledge to understand the cryptocurrency market.

You are right, greed is one of the most common reasons for losing in the trade, you also have to take into account a reason that very few say but that is one of those that most affect traders, especially newbies, and is that they do not know how to use the tools that they have in the exchanges, many who are starting to operate do not know all the tools well, and because they do not know them they lose much more, some do not know how to use the Stop Loss, nor the "Take Profit" anymore Sometimes for not knowing how to operate within the Exchange, you lose a lot in commissions such as placing an order, taking profit, making a withdrawal, there are many details that few speak.

Sweetbtc

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Like everyone is asking about the same question, that they should take a profit only, they don't have to think that whether they made a small profit or it is big. But it is a good habit too. On the other side when someone was really in greed and he thoughts that he can earn more and more in order to get more profit. Then it will be too risky which can give the man loss too.

Ridi

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Reasons why they get it all wrong when trading I think lack of knowledge, greedy plans, panic, impatience these are few main points which makes a wrong decision. 🙏

Karish2return

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The common way of getting losses for most of the trader is greed, when they try to earn more and more even they are also in profit, it kills most of the opportunities of the trader and if they were in profit they will further go into the loss. The main reason of getting benefit is that you have to take profit and run.

Topic: Reasons why they get it all wrong when trading. (Read 940 times)