Topic: Reasons why they get it all wrong when trading. - page 3. (Read 866 times)
The constant up-down profit curve is the animation of the fear and greed index, the more we want the more risks we take. Like in the stock market, you can make unlimited money by guessing the right stock and having a proper money management but in the case of volatile crypto markets, the same method is not correct for short-term traders. The market can stay flat for a few years and it can go up 500% in a day. Trying to find bottom and tops is the main reason why the majority of traders miss the train or forget to liquidate before it is too late.
.. Traders aren't jokers therefore before you decide to become one, you have to know or have the following characteristics to help guide you. You have to be very smart, the market isn't a friend to fools.
Exactly.Some mistakes done right now is about trading only by following other people and not doing our own research and analysis.
Little did they know that making money isn't as easy as it may look, knowledge determines every step of trading, and you can't argue with good strategies and good timing. If you get the basis right, you can reduce risk of loss down to a bare minimum.
Probably the biggest mistake that people make when trading, is not learning from their mistakes, i personally have struggled a lot with this, i go in i put a trade i lose it reflect on why i made it and why i lost, i say i won't make that mistake again in the future but i always keep on doing it, sure we can blame it on the uncertainty and the unpredictable crypto market, but honestly we are our own demise and if we are able to conquer ourselves and control our actions, we will have more success.
You are more into gambling than trading then because a trader would never make the same mistake more than twice. I know it's not easy to control your emotions and most of the time emotions lead to losses. I have seen people strongly saying that they will buy more BTC when the market goes down but when it actually goes down, they panic and instead of buying more they even end up selling the coins they have.At the same time, the market is volatile and it has only been 5-6 years of crypto trading. I know BTC came into existence long back but serious and high scale trading has been only happening for 5-6 years and hence no one has the data to read and understand the market as compared to the stocks market where data is available for much longer.
Probably the biggest mistake that people make when trading, is not learning from their mistakes, i personally have struggled a lot with this, i go in i put a trade i lose it reflect on why i made it and why i lost, i say i won't make that mistake again in the future but i always keep on doing it, sure we can blame it on the uncertainty and the unpredictable crypto market, but honestly we are our own demise and if we are able to conquer ourselves and control our actions, we will have more success.
The justification they give is that they are very busy chasing profits on the trading path, their time is spent researching into many altcoins every day, a few failures are just a few small stones blocking their way and not worth them to spend a lot of time and analyze every bit, they just need to take a detour to get to the finish line. The direction is appreciated and the second mistake has no similar signs but the core fix is still in the first mistake, this is a chain of linked consequences, just need to finish testing in the early stage, the later stage probably won't continue to grow so bad 
When we're in greed mindset we failed in trading, it's because we don't know how to handle our decision making. Many opportunities is give to us but we didn't grab it during the time our coins prospered in the marketplace. But, it's not too late to recover all those wasted profit; move forward and don't let fear dominate you in trading. Be smart and decisive to face challenges.
Greedy people tend to put their egos forward, where they seem to want prices to continue to rise. they do not want to learn and understand the market, and tend to push themselves. and what happens next they will regret their decision, because they did not leave the market when the price was at its peak. until finally panic sell that occurs because they are frustrated When we're in greed mindset we failed in trading, it's because we don't know how to handle our decision making. Many opportunities is give to us but we didn't grab it during the time our coins prospered in the marketplace. But, it's not too late to recover all those wasted profit; move forward and don't let fear dominate you in trading. Be smart and decisive to face challenges.
Greedy people tend to put their egos forward, where they seem to want prices to continue to rise. they do not want to learn and understand the market, and tend to push themselves. and what happens next they will regret their decision, because they did not leave the market when the price was at its peak. until finally panic sell that occurs because they are frustrated 
-snip-
If he can pass his daily lesson and try to trade, sooner or later, he will become a pro trader, even without he realizes that he already achieve that.
Continue to practice how well to do the analysis every day. Try trading with various indicators and learn each indicator's function. it will make trading skills more developed. To become a pro trader is not just a matter of time, but how much you intend to keep learning and improving your skills. Professional traders are not just technical or fundamental science but psychology will be very influential in making decisions.If he can pass his daily lesson and try to trade, sooner or later, he will become a pro trader, even without he realizes that he already achieve that.
As traders, our primary focus must be learning rather than earning because once we have mastered the art of analyzing projects and coins from every angle, this whole crypto industry looks very sorted while if you take decisions emotionally you will always have a hard time earning and slowly lose interest.
-snip-
If he can pass his daily lesson and try to trade, sooner or later, he will become a pro trader, even without he realizes that he already achieve that.
Continue to practice how well to do the analysis every day. Try trading with various indicators and learn each indicator's function. it will make trading skills more developed. To become a pro trader is not just a matter of time, but how much you intend to keep learning and improving your skills. Professional traders are not just technical or fundamental science but psychology will be very influential in making decisions.If he can pass his daily lesson and try to trade, sooner or later, he will become a pro trader, even without he realizes that he already achieve that.
There's no such thing about perfect trades because its impossible for someone not to experience losses. Don't let yourself be greedy and stick to your plan which is to make profits,
even though you do fail but doesn't mean that you should stop.Trading isn't for weak hearts and if you do plan to invest then you should be at least prepared.
When we're in greed mindset we failed in trading, it's because we don't know how to handle our decision making. Many opportunities is give to us but we didn't grab it during the time our coins prospered in the marketplace. But, it's not too late to recover all those wasted profit; move forward and don't let fear dominate you in trading. Be smart and decisive to face challenges.
For the exchange point, I see many new traders are opting for Decentralised exchanges where they don't need to store their funds, but trade and keep the money in their wallet. A trader also does it all wrong if he doesn't know the trading fee structure, takes a bunch of trades and gives too much to the exchange in fees. Losing more on fees is also a loss which should be cut, for which only confident trades must be performed.
Probably the biggest mistake that people make when trading, is not learning from their mistakes, i personally have struggled a lot with this, i go in i put a trade i lose it reflect on why i made it and why i lost, i say i won't make that mistake again in the future but i always keep on doing it, sure we can blame it on the uncertainty and the unpredictable crypto market, but honestly we are our own demise and if we are able to conquer ourselves and control our actions, we will have more success.
Emotion is the biggest opponent in trading because it can impact your decision making and prevent you from focusing on your strategy; overcoming it would be beneficial. The other is to set a goal, such as gaining a certain amount. What I learned from my past trading experience is to create a target profit and a stop loss, both of which are quite beneficial. If you are greedy, you will see your account burn and you will lose a lot of money. Though they usually claim that emotion drives us to make decisions that we should not, we must learn to control our emotions.
Emotions are very horrible if you do not know what you are doing as well, it becomes suddenly something that means you should even be trading at all if you have both emotions too much and at the same time do not know how to trade then the first thing you should do is to calm yourself if you can stop your emotions when trading then you can learn how to trade later on, but if you can't keep your emotions in control no matter how much you learn about trading you will not be able to trade properly and that is the biggest reason why you should calm down first.However the trading experience thing is a reality, unless you are a person who have no idea what they are doing, any experienced trader would be able to just study what their mistake was and learn and usually do not make the same mistake again, or at the very least do not make it too commonly and that is the important thing.
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Today you have smooth DEX like Uni or Pancake, so beautiful, so easy to use, but then you look at the percentage of scam tokens. Broken whitepapers and utterly trash communities who say nothing but share memes in channels.
When you see all this you feel like regulated CEX is safer for your money.
Exactly, that's what I meant. Until recently, virtually every token listed on a DEX had at least an x10 for a short time (usually a few hours) and then immediately collapsed. I don't even want to know how many newbies here lost their precious BTC chasing the big money. Today you have smooth DEX like Uni or Pancake, so beautiful, so easy to use, but then you look at the percentage of scam tokens. Broken whitepapers and utterly trash communities who say nothing but share memes in channels.
When you see all this you feel like regulated CEX is safer for your money.
Something like that doesn't happen on CEX or only with much more effort, so the chance of being scammed on a CEX is much lower. Launchpads, on the other hand, only offer by a few CEXs, and of course they don't list every (promising) coin right away.
Most traders what always kill them is greedy sometimes in trading you have to take a little profit and move or wait for dump before buying again but if you think you want a coin to do 2x,3x,4x before selling which is bad seriously is really good you aim high and sometimes is just better you sell with the little profit you are having and wait for retrace to avoid losing your money completely.
That's because these traders want to really maximize their profits not knowing that they are currently reaching the peak and by the time that they know that the price are falling it's too late for them. I agree that greed is the reason for the downfall of many traders. -snip-
If he can pass his daily lesson and try to trade, sooner or later, he will become a pro trader, even without he realizes that he already achieve that.
Continue to practice how well to do the analysis every day. Try trading with various indicators and learn each indicator's function. it will make trading skills more developed. To become a pro trader is not just a matter of time, but how much you intend to keep learning and improving your skills. Professional traders are not just technical or fundamental science but psychology will be very influential in making decisions.If he can pass his daily lesson and try to trade, sooner or later, he will become a pro trader, even without he realizes that he already achieve that.
After that, you can try to learn the other indicator and I admitted that the more indicator that we can learn and master it, we will be able to analyze better than the other traders.
Although it is hard to become a pro trader, if you learn hard about trading and try to practice what you learn, someday, you will become a pro trader.
You do not need to afraid if you can not make a profit because that is just a temporary delay. After all, you are still learning.
-snip-
If he can pass his daily lesson and try to trade, sooner or later, he will become a pro trader, even without he realizes that he already achieve that.
Continue to practice how well to do the analysis every day. Try trading with various indicators and learn each indicator's function. it will make trading skills more developed. To become a pro trader is not just a matter of time, but how much you intend to keep learning and improving your skills. Professional traders are not just technical or fundamental science but psychology will be very influential in making decisions. If he can pass his daily lesson and try to trade, sooner or later, he will become a pro trader, even without he realizes that he already achieve that.
The number one reason behind every trader picking interest in trading is to make profit, if you aren't making profit then it'll preferably to stop trading and try understanding why you aren't making profit but when a supposed trader refused to stop to reexamine themselves but continue in losses with the hopes of things turning around automatically, they get it all wrong.
There's something wrong that you need to figure out because trading isn't all about making a profit, there are sometimes you also have experience losses. But I think if you aren't getting a profit and decided to stop isn't a good idea for me, you have been there and learn from those mistakes that you had. Quitting is not a solution instead, encourage and motivate yourself to learn more on technical and even in fundamental analysis which gives you more chances and potential of making a profit.Bear in mind always that trading isn't an easy way of making a profit, learn your mistake and don't let it that will happen again, losses are normal in trading most especially if you're a beginner. It requires a lot of work, study, and research.
Most traders what always kill them is greedy sometimes in trading you have to take a little profit and move or wait for dump before buying again but if you think you want a coin to do 2x,3x,4x before selling which is bad seriously is really good you aim high and sometimes is just better you sell with the little profit you are having and wait for retrace to avoid losing your money completely.
I think a lot of us are guilty with that kind of thinking at one point in our trading. That's human nature, we want to earn more as much as we can. But as we traverse this trading life, we learn more and we realize that chasing those high profits is not always worth to take. Because a lot of these projects turned out to be crap, you can't even get your initial investments back. It is better to keep valuable projects with active use case in the market. But for those pump and dump coins, better get rid of them while you can.
Most traders what always kill them is greedy sometimes in trading you have to take a little profit and move or wait for dump before buying again but if you think you want a coin to do 2x,3x,4x before selling which is bad seriously is really good you aim high and sometimes is just better you sell with the little profit you are having and wait for retrace to avoid losing your money completely.
I think a lot of us are guilty with that kind of thinking at one point in our trading. That's human nature, we want to earn more as much as we can. But as we traverse this trading life, we learn more and we realize that chasing those high profits is not always worth to take. Because a lot of these projects turned out to be crap, you can't even get your initial investments back. It is better to keep valuable projects with active use case in the market. But for those pump and dump coins, better get rid of them while you can.
Most traders what always kill them is greedy sometimes in trading you have to take a little profit and move or wait for dump before buying again but if you think you want a coin to do 2x,3x,4x before selling which is bad seriously is really good you aim high and sometimes is just better you sell with the little profit you are having and wait for retrace to avoid losing your money completely.
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