Topic: Reasons why they get it all wrong when trading. - page 5. (Read 929 times)
This is very insightful and have also learnt some things frim this post as well. We all here about greed in almost every time and still yet we fall for it, most of us don't learn until we are dealt with, i have been trading for a while and making cool profits, due to greed i almost lost everything both profits and capital, so bad i learnt my own lesson the hard way and now am trying every possible to control my greed.
There's a lot of reason why some traders are losing much money in the market, maybe they are not well prepared emotionally, mentally and financially because this market is very stressful even if you know how the trading works, if you don't have self-discipline then you'll get burn later on.
Being greedy is one of the reason why traders are crying as they lose their money, they didn't commit on their target price and they become more greed forgetting about the volatility in the market. Setting up your target price and cut loss level can prevent you from being greedy, you should know that taking profit most of the time is very important.
That's because his mentality is not completely ready to make real trades and the word discipline is important with the target he is aiming for and if he just wants to go higher then I think that all the money will slowly run out and forget about it. the pattern in which they start their commitment.Being greedy is one of the reason why traders are crying as they lose their money, they didn't commit on their target price and they become more greed forgetting about the volatility in the market. Setting up your target price and cut loss level can prevent you from being greedy, you should know that taking profit most of the time is very important.
Sometimes with greed we always forget the main goal about emotional and financial we even have reached the target we always ignore it because in crypto trading it requires good skills and discipline so you can get better benefits.
As a trader you should be okay with making some losses as there's more lessons in losses than profit
Such a sweet and true statement and it's important to face and conquer losses earlier in your trading career. When traders don't know how loss feels and only taste profit in their life, they might not be able to handle a loss which is inevitable at some point for even the best ones, given how volatile crypto trading is.Like I earlier said, traders should be self discipline, when a trader begin to become too greedy he or she is doing it all wrong. Profit taking is a key skill every trader should learn as it's very vital in becoming a successful trader.
A good balance between greed and fear is important like you said because too much of either one of these can be bad. You must be able to wait long enough to encash the asset but not greedy enough to let the peak point slip in hope of even higher prices. 
So are we talking about trading trusting cex too much or the greed to make profits? Are both of them new anyway? I think most people already know this. Greed and trusting exchange cause a lot of problems here and there.
I suggest searching for trading mistakes on this forum or google, you'll find a lot of discussions about it from years ago.
Trading mistakes has nothing to do with trusting on cex because it has nothing to do with your trading outcome or profitability but of course with the accompanied risk then we should be aware.I suggest searching for trading mistakes on this forum or google, you'll find a lot of discussions about it from years ago.
Common reasons about getting wrong with your trading is we do become greedy too much which do result into non learning of the basics or things to consider when you do engage with trading.
This would involve lots of trials and errors which should people do really expect to experience.Thing here is that you do learn up from those mistakes because this would be a stepping stone
for you to succeed on this career, it might sound simple but its not but really worth for you to engage on.
There is a number of people who would like to join in the trading but some of them don't know where it starts but I guess most of the traders mistakes are doing the Fear of missing out and does not have a trading plan. A trading plan is one of the most essential strategies nowadays no matter what happens in your trading, a trading plan is a guide if you lose. Also, some of the beginners if they lose on futures trading with a small amount they are still getting holding the position even the graph already give them a hint about the possible outcome of their position. Always be conscious when your in trading its not all about emotions its all about the strategy to win profit and prevent too much loss.
There's a lot of reason why some traders are losing much money in the market, maybe they are not well prepared emotionally, mentally and financially because this market is very stressful even if you know how the trading works, if you don't have self-discipline then you'll get burn later on.
Being greedy is one of the reason why traders are crying as they lose their money, they didn't commit on their target price and they become more greed forgetting about the volatility in the market. Setting up your target price and cut loss level can prevent you from being greedy, you should know that taking profit most of the time is very important.
Being greedy is one of the reason why traders are crying as they lose their money, they didn't commit on their target price and they become more greed forgetting about the volatility in the market. Setting up your target price and cut loss level can prevent you from being greedy, you should know that taking profit most of the time is very important.
Thanks for the questions raised by the host, and I have benefited from everyone's communication.These questions are what we will have to become a qualified trader.
So I briefly summarized everyone's views:
1. "Fear the market and always keep a clear mind; the lesson of loss is more than profit; don't put most of the funds in the exchange" (find a trusted exchange) to ensure your transaction;
2. Greed is a big taboo, and stop loss is a common operation;
3. "A lot of investigation, analysis, and trading strategy should be made before trading, and then invest again";
4. "Ignorance, FOMO, greed and panic are the most important things to avoid in trading". Control your emotions;
5. Check, review and correct your own transactions;
6. Control your own trading risks and continuously enhance your learning awareness;
7. Follow the trend and operate self-discipline.
There are still some that I have definitely not noticed. Thanks again to the people who helped.
So I briefly summarized everyone's views:
1. "Fear the market and always keep a clear mind; the lesson of loss is more than profit; don't put most of the funds in the exchange" (find a trusted exchange) to ensure your transaction;
2. Greed is a big taboo, and stop loss is a common operation;
3. "A lot of investigation, analysis, and trading strategy should be made before trading, and then invest again";
4. "Ignorance, FOMO, greed and panic are the most important things to avoid in trading". Control your emotions;
5. Check, review and correct your own transactions;
6. Control your own trading risks and continuously enhance your learning awareness;
7. Follow the trend and operate self-discipline.
There are still some that I have definitely not noticed. Thanks again to the people who helped.
Thank you for giving a lot of things that really need to be studied carefully, here I am including people who really want to be reminded and want to be more inclined to improve trading activities so that I can become a better trader, and this can be a source of motivation for me.
So are we talking about trading trusting cex too much or the greed to make profits? Are both of them new anyway? I think most people already know this. Greed and trusting exchange cause a lot of problems here and there.
I suggest searching for trading mistakes on this forum or google, you'll find a lot of discussions about it from years ago.
I suggest searching for trading mistakes on this forum or google, you'll find a lot of discussions about it from years ago.
Yes, this isn't the first time the problem of trusting exchanges or being greedy during trading is being discussed in the forum. As a matter of fact, it has been discussed dozens of times before this but it's still nice to have a reminder about it. Plus, regardless of the 3 major points op shared, there's still something to be learnt ~ either in OP or in the comments that followed. I know this because I took time to read some of the replies.
Although it has been discussed thousands of times regarding the problems of over-trusting exchanges and greed when trading. There are still people
who make these mistakes, which means that we all need to remind each other continuously. Because I think this problem is most often experienced
by traders, they think popular and reputable exchanges are safe to keep all their money. Then there are still very many traders who can't control
their greed. Therefore, it is a positive thing if topics like this keep popping up, because they are very important as reminders. In order to avoid
the wrong thing when trading.
So are we talking about trading trusting cex too much or the greed to make profits? Are both of them new anyway? I think most people already know this. Greed and trusting exchange cause a lot of problems here and there.
I suggest searching for trading mistakes on this forum or google, you'll find a lot of discussions about it from years ago.
I suggest searching for trading mistakes on this forum or google, you'll find a lot of discussions about it from years ago.
Yes, this isn't the first time the problem of trusting exchanges or being greedy during trading is being discussed in the forum. As a matter of fact, it has been discussed dozens of times before this but it's still nice to have a reminder about it. Plus, regardless of the 3 major points op shared, there's still something to be learnt ~ either in OP or in the comments that followed. I know this because I took time to read some of the replies.
So are we talking about trading trusting cex too much or the greed to make profits? Are both of them new anyway? I think most people already know this. Greed and trusting exchange cause a lot of problems here and there.
I suggest searching for trading mistakes on this forum or google, you'll find a lot of discussions about it from years ago.
I suggest searching for trading mistakes on this forum or google, you'll find a lot of discussions about it from years ago.
Well, almost all the time jumpers have become a loser especially if they are new in the trading field. No, they are greedy because they jumped even without knowledge and skills about trading, because perhaps they had heard about possible and potential profit in trading, some others are invested in different new launched projects hoping that there is a big ROI will come but in fact, they keep losing and perhaps the reason leaving in the market and blindly accepted their losses. It is indeed a good insight by the OP.
Perhaps, trading is not for everyone, if you just keep losing despite the hard work and effort you've made, definitely, this is not for you. We can't force to take this if this will be just the result, better to find a place where we are comfortable and happy with the results.
[snip]
Well, almost all the time jumpers have become a loser especially if they are new in the trading field. No, they are greedy because they jumped even without knowledge and skills about trading, because perhaps they had heard about possible and potential profit in trading, some others are invested in different new launched projects hoping that there is a big ROI will come but in fact, they keep losing and perhaps the reason leaving in the market and blindly accepted their losses. It is indeed a good insight by the OP. Like I earlier said, traders should be self discipline, when a trader begin to become too greedy he or she is doing it all wrong. Profit taking is a key skill every trader should learn as it's very vital in becoming a successful trader.
Majority of the traders jumping into the cryptocurrency market move in expecting huge returns and you cannot call them greedy, if you ever invest in the market especially in the altcoin market understand the risk as only Bitcoin is the only coin that can benefit you in the long run.
This is very accurate trading is not a friend you have to outplay your way in the market, another significant point there is discipline if one lacks discipline then you are not good at cryptocurrency trading because you can not make good trading decisions.
Indeed, that trading is not good if you lack of discipline but did you know that trading is not for people who can't control their emotions will lose the ability to trade properly or to take profit? Trading is just so simple exactly, you just have to buy and sell but it determine your profit whether you buy it high or low and sell it high or low.After all, trading is just buying and selling but the only difference is how you good you are at buying and selling in order to make profit.
and when you had done this then you would find yourself a bit efficient on making out your trades.
This is very accurate trading is not a friend you have to outplay your way in the market, another significant point there is discipline if one lacks discipline then you are not good at cryptocurrency trading because you can not make good trading decisions.
Indeed, that trading is not good if you lack of discipline but did you know that trading is not for people who can't control their emotions will lose the ability to trade properly or to take profit? Trading is just so simple exactly, you just have to buy and sell but it determine your profit whether you buy it high or low and sell it high or low.After all, trading is just buying and selling but the only difference is how you good you are at buying and selling in order to make profit.
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Traders can't help it buts trust exchanges to help store their funds they used for trading but you should never over trust an exchange to keep all or very large amount of funds on them, if not you're doing it all wrong. If your trades has been very profitable, consider withdrawing some of the funds to your personal wallet as no exchange is hacked free, they can be hacked at any moment and you wouldn't want all your eggs to be exposed when the snake come attacking.
It is really important to find a trusted trading platform and even if i find a trusted exchange i will not trust them for holding my funds if i am not trading as we already saw dozens of so called trusted exchanges ceasing to exist. Traders can't help it buts trust exchanges to help store their funds they used for trading but you should never over trust an exchange to keep all or very large amount of funds on them, if not you're doing it all wrong. If your trades has been very profitable, consider withdrawing some of the funds to your personal wallet as no exchange is hacked free, they can be hacked at any moment and you wouldn't want all your eggs to be exposed when the snake come attacking.
Like I earlier said, traders should be self discipline, when a trader begin to become too greedy he or she is doing it all wrong. Profit taking is a key skill every trader should learn as it's very vital in becoming a successful trader.
Majority of the traders jumping into the cryptocurrency market move in expecting huge returns and you cannot call them greedy, if you ever invest in the market especially in the altcoin market understand the risk as only Bitcoin is the only coin that can benefit you in the long run. 
I agree that it is greed that make some traders commit mistakes.
They don't want to take notice of it because all they think is about larger profit than what they have in the present. But if you're trading, you should really secure your profits as long as it's a gain for you, you have to secure it.
And for the other trades because they're greedy, they're missing all the potential profits that they should get because they're asking for more.
When you do rush up on trading without even knowing the basic fundamentals or even just getting the main idea then you are really prone to mistakes on where most noobs do commit.They don't want to take notice of it because all they think is about larger profit than what they have in the present. But if you're trading, you should really secure your profits as long as it's a gain for you, you have to secure it.
And for the other trades because they're greedy, they're missing all the potential profits that they should get because they're asking for more.
Its true that most of the time where greed do sets in and in result you would really be rushing up on making positions or orders without having any analysis or basis.
Sooner or later you would really be learning up things when you do gain sufficient knowledge and experience along the way thats why i can say that those are just normal scenarios
for people to learn up.
But once they steps on it and see the differences of trading in actual and with what they have on their minds, they'll realize how hard it is and how to set their minds.
Because greed will really pull them down.
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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.
I agree with you but losing is part of the learning process when it comes to being a successful forex trader but not extreme losses of course. Once you understand how to turn losing trades into winning ones then you are one step closer to success. Quote
no exchange is hacked free, they can be hacked at any moment and you wouldn't want all your eggs to be exposed when the snake come attacking.
Crypto exchanges need to introduce some kind of insurance to protect their customers Crypto assets because it's unfair to pass the damage over to the customer.
New traders nowadays just follow what they see and what they learn in the internet, what i mean they always make decisions without further planning..probably it's because of greediness and thoughts that doing trading its just an easy work.. Lol because they don't make a way just to assure they all have enough and reliable key when it comes trading.. Wherein one information for them is enough. That's why its not surprising anymore why most of them were failed when it comes trading.
A trend is a friend. This is often the advice of a swing trader that I've followed for a long time. He doesn't trade when the trend is not friendly like if the market is just moving sideways, don't trade. This is kind of a discipline and if you don't maintain this discipline, there will be more losses.
Hard to be disciplined that you need to be reminded over and over and the losses that you experience are reminders.
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