Entering the world of trading means that we are ready to fail and also the possible profits, but that does not mean that we have come here to fail. Failure is normal and we must learn from it. I agree with some of the important points that are written here about tips to avoid mistakes in trading which will help us to trade well. the way we manage the trading assets that we have will have an impact on the results that we get. therefore we must be able to control our emotions so as not to be affected by the ups and downs of the crypto market. most mistakes in trading are too hasty and panicked, avoid them because it will make our minds more confused in trading.
I think if we speak trading itself it's not just about the profit it's also about having a knowledge about of different strategies so you can try different strategies if you think you aren't gaining progress with your trading skills. Entering crypto market is not just all about learning what is this and that it's all about experience and understanding and setting the mindset that not everyday is a profit day. Rest assured that your losing streak is minimal than your winnings. 
Topic: Some Errors We Make In Trading Crypto - page 8. (Read 1284 times)
Entering the world of trading means that we are ready to fail and also the possible profits, but that does not mean that we have come here to fail. Failure is normal and we must learn from it. I agree with some of the important points that are written here about tips to avoid mistakes in trading which will help us to trade well. the way we manage the trading assets that we have will have an impact on the results that we get. therefore we must be able to control our emotions so as not to be affected by the ups and downs of the crypto market. most mistakes in trading are too hasty and panicked, avoid them because it will make our minds more confused in trading.
- Crypto is not a get-rich-quick scheme- so seeing it as one is a big error and can lead to a lot of other mistakes and loses.
They really thought it is easy especially when they saw someone who are flexing some profits on social media and for sure that's the time they are being lured to trade cryptocurrencies. This should not be the mindset of people who are starting to trade cryptocurrencies.
The only thing you need to do in order to avoid this mistake is simply to inform yourself before you come to this market, now it is true the volatility is higher and as such the profits can be higher as well, but what many people never mention is that the volatility can play against you as well and produce more losses than what you can get in other markets, if newbies understood something as simple as this and they lowered their expectations then they will not lose as much money as they do now.
- Crypto is not a get-rich-quick scheme- so seeing it as one is a big error and can lead to a lot of other mistakes and loses.
In truth newcomers need to understand that there is no trading guide that can guarantee them profits, all they must do is learn all there is to and make the right choices, but profit and loss remains a possibility, but when you lose, just learn from it and move on.
- Going all in- it a very bad habit, never ever put all your eggs in one basket. it's a popular saying.
- Crypto is not a get-rich-quick scheme- so seeing it as one is a big error and can lead to a lot of other mistakes and loses.
The list above is derived solely from my own personal observations and experiences, feel free do add yours.
This is theindset of those who only see crypto trading as a shortcut to success and do not consider its risks. They usually trade by emotions which usually result in losses. They only see profit and gains and disregard the possible amount that they could lose. A proper mindset will be the first thing that we should consider before we trade. Trading is a long process of learning and it's also a long pathway of the the journey and we still have a lot of circumstances to encounter before we reach the target profit that we want.
would able to sustain this market.Errors cant really be avoided though but could really be lessen out in terms of chances for it to happen, once you d o gain sufficient experience then you would really able to find out
that this market is something that shouldnt be rushed up on making out decisions.It should be done on a careful and making some good analysis on it if you do really like to sustain or survive.
yes your advice really helps us in deciding to open a trade. crypto is not a place for someone to get rich, but crypto is a place where we have to spend capital and get profits if the analysis we do is right, if the analysis we do is wrong then bad luck will come to us.
one more important point in my opinion is "don't be greedy" take profits according to your initial target. because if you want a bigger one, I'm afraid the market will turn down again.
one more important point in my opinion is "don't be greedy" take profits according to your initial target. because if you want a bigger one, I'm afraid the market will turn down again.
- Going all in- it a very bad habit, never ever put all your eggs in one basket. it's a popular saying.
- Crypto is not a get-rich-quick scheme- so seeing it as one is a big error and can lead to a lot of other mistakes and loses.
The list above is derived solely from my own personal observations and experiences, feel free do add yours.
This is theindset of those who only see crypto trading as a shortcut to success and do not consider its risks. They usually trade by emotions which usually result in losses. They only see profit and gains and disregard the possible amount that they could lose. A proper mindset will be the first thing that we should consider before we trade. Trading is a long process of learning and it's also a long pathway of the the journey and we still have a lot of circumstances to encounter before we reach the target profit that we want.
- Going all in- it a very bad habit, never ever put all your eggs in one basket. it's a popular saying.
- Crypto is not a get-rich-quick scheme- so seeing it as one is a big error and can lead to a lot of other mistakes and loses.
The list above is derived solely from my own personal observations and experiences, feel free do add yours.
I had been badly hurt while trading without a stop loss and trading with high leverage of 10x, with high leverage a drop in the price of the traded amount to a huge loss of my portfolio, I had been able to manage that area by trading with maximum of 5x which is more reasonable with a lower risk
Stop loss or not, it is hurtful of you use leverage for trading. If you are bad in capital allocation and management for trading, and if you use too high leverage, you will be punished by the market in red days.Bad capital allocation means you use 100% of your capital for leverage trading. Consequently, in red days, in massacre times, and if stop loss order fails to save you because of Cascade effects, you will lose 70% to 80% of your capital. It's terrible if you all in trading with leverage, and after one bad trade, you lose 80% of it. Terrible nightmare certainly!
Quote
I had also been hunted in with bad trading without a stop loss, I had a mindset of forex trading not knowing that cryptocurrencies tends to have a higher volatility thus tend to move faster than forex.
Finally I also worked my emotions especially avoid greediness after earning some profits.
You have to consider to use Stop loss order and Stop limit order too.Finally I also worked my emotions especially avoid greediness after earning some profits.
What is a stop limit order?
One of the best weapons in trading
I had been badly hurt while trading without a stop loss and trading with high leverage of 10x, with high leverage a drop in the price of the traded amount to a huge loss of my portfolio, I had been able to manage that area by trading with maximum of 5x which is more reasonable with a lower risk, I had also been hunted in with bad trading without a stop loss, I had a mindset of forex trading not knowing that cryptocurrencies tends to have a higher volatility thus tend to move faster than forex.
Finally I also worked my emotions especially avoid greediness after earning some profits.
Finally I also worked my emotions especially avoid greediness after earning some profits.
There are lot of mistakes that we make as trader even after surviving long in the market but the time gives you experience and knowledge about market conditions and certain rules that can safeguard you in tough times making right choice.At first i also invested some amounts that i was not willing to loose and the choice of coins was not right but as said time will tell you the difference and opportunities to correct it.But don't be emotional and move with full research.
- Going all in- it a very bad habit, never ever put all your eggs in one basket. it's a popular saying.
- Crypto is not a get-rich-quick scheme- so seeing it as one is a big error and can lead to a lot of other mistakes and loses.
The list above is derived solely from my own personal observations and experiences, feel free do add yours.
- Crypto is not a get-rich-quick scheme- so seeing it as one is a big error and can lead to a lot of other mistakes and loses.
They really thought it is easy especially when they saw someone who are flexing some profits on social media and for sure that's the time they are being lured to trade cryptocurrencies. This should not be the mindset of people who are starting to trade cryptocurrencies.
Perhaps, I've been trying trading without TA just to see if it really works, but unfortunately, that only it ends up losing.
I have to say that trading needs not only just having knowledge and skills nor to rely on LUCK and Hopes, we need to improve our analysis, somehow.
It must be a complete package when you're in trading, technical, fundamental analysis, and other automated trading tools that can be used. Don't rely on a single source, you've always had a preference when there are more of them. Trading without this it seems like you're in gamble and guessing what would be the result. I have to say that trading needs not only just having knowledge and skills nor to rely on LUCK and Hopes, we need to improve our analysis, somehow.
Errors are normal in trading, through these errors, you'll learn and improve your skills in trading because trading isn't the sole purpose of making a profit, sometimes it needs experience and learning how to handle the risk.
I would like to highlight the part of donyour own research which is what most of the amateur traders commit, they simply follow the signals or guidance of someone they found on internet but how they trust someone is doing for us without any benefits, normally they influence people to invest in shitcoins for that they are getting paid by the team but at the end the investors rather traders as well will be be on the losing side.
...
The list above is derived solely from my own personal observations and experiences, feel free do add yours.
In addition to that,The list above is derived solely from my own personal observations and experiences, feel free do add yours.
1. Lack of Technical and Fundamental analysis -
I've found this very important upon doing trading. Common mistakes that most noobs do is to rely on luck and do trading without any basis. Perhaps, I've been trying trading without TA just to see if it really works, but unfortunately, that only it ends up losing.
I have to say that trading needs not only just having knowledge and skills nor to rely on LUCK and Hopes, we need to improve our analysis, somehow.
- Crypto is not a get-rich-quick scheme- so seeing it as one is a big error and can lead to a lot of other mistakes and loses.
just doing the very basic risk management would be missed out which would result into losses and thats the time we do make out some realizations that dealing with this market isnt something
simple as it looks. First impressions would not always last in the end specially into this market.
- Going all in- it a very bad habit, never ever put all your eggs in one basket. it's a popular saying.
- Using other people's market signal to trade- doing this saves you alot of time and also makes trading very easy -, but remember, "good things don't come easy, if it does, then it comes a child's play", learn to do your own research, analyze the market, technical and fundamental analysis, learn everything you need to be your own boss in your crypto trading.
I used this the first time I went trading. Using other people's market signal to trade and then going all-in is the perfect combination that will make me lose all at once hahaha.
But after learning more lessons about trading, I tend to reduce my funds to trade just because I am afraid to see a big loss like before. It gave me a trauma to use too big money at once and try to split it into 3 or more parts.
Until now, I have tried to stick to that, and it works for me so far.
Most of our errors are related to the psychological factor. We can learn many new techniques to work and alot of theory, but it is really hard to deal with mind factors.
I think that is true. We all know that trading requires a lot of things especially psychological factors.We need to aware the fact trading is risky thing to do but sometimes our minds often convince us that if we know something, we could do it if we wanted
Purchasing a coin mainly because it's price is low
I have been in this too and I ended up gathering shift projects that didn't bring returns. Buying based on price alone may not work well but if the project is cheap and you consider other factors to be good, it is possible to be a good investment but I don't invest blindly.
Using other people's market signal to trade
No matter how I try to do this, I don't get comfortable with it and I end up doing my thing. Doing your own work will eventually take you to proper strategy that you can grow with, trading like other things can be better with time and experience. We always to know that nobody knows where the market will shift to in the next candle hour so having this at heart will tell you you have to understand the trade yourself. No trader is perfect and no trading signal is perfect likewise.
Jump to: