Topic: Stop Trading - page 7. (Read 1041 times)
Yes, you need to stop trading at certain point, when the loss is more than the profit, you need to take a break and analyse the market. The points mentioned in the OP are good, but as a practical trader, this never applied on ourselves. One thing that stopped us from trading is the stop loss. If we set a limit and if our balance drops below that, then we should stop and revisit the coin and graphs. This factor plays the important role in a trader’s mindset.
4) Market Conditions are not Favourable
Every technical Analyst knows when things are unfavorable. The skill of spotting unfavorably conditions in the market is obtained by practice and study. If you are a technical analyst and you don't know please try and develop yourself.
Yes, there are some times that the market will be this unfavorable to whatever trading decision that you make that day, you will be hit at a lose if you are a scalper or day trader, and the best thing you can do yourself is close that system and wait for another day. Every technical Analyst knows when things are unfavorable. The skill of spotting unfavorably conditions in the market is obtained by practice and study. If you are a technical analyst and you don't know please try and develop yourself.
3) When Emotionally Unstable
Are you angered, troubled, disturbed, or even excited etc? At that point don't engage the market.
Your state of emotion can cause you to make a bad trading decision that could cause you to incur unnecessary losses, Avoiding trade when your emotion is not in a stable condition will always be the right decision-making for you. Are you angered, troubled, disturbed, or even excited etc? At that point don't engage the market.
It is not a must to take every trade and it is not a must to trade. Have you experience difficulty in the Financial Market or disappointment that affected your well being. Stated below are some essential things you need to look out for once you noticed them please stay off the market.
The decision is entirely up to each of us and when deciding whether to trade or not it should be based on the understanding that has been studied properly. Many people actually push things beyond their capabilities and end up facing losses every time they engage in trading. Everyone has experienced difficulties in the financial markets or in trading, but this is an important lesson so that we can get out of previous problems.It is not easy to control your emotions especially when trading, if you have previously experienced profits and when the market moves in the red, then perhaps panic will bring us to the stage where it is difficult to control our emotions. It is better to consider what we do in accordance with responsibility and if we think trading can be carried out then do it correctly and appropriately.
It is not a must to take every trade and it is not a must to trade. Have you experience difficulty in the Financial Market or disappointment that affected your well being. Stated below are some essential things you need to look out for once you noticed them please stay off the market.
1) Series of Losing Trade
If you noticed that the losses you had are more in a series of trade you took then take a break. If you proceed you will start doing revenge trading and lose out. A break will help you re-evaluate yourself and maintain psychological and emotion balance.
2) Market is Consolidating
Surely there is no direction in the Market once it is consolidating. This will waste your time and make you make irrational decisions.
3) When Emotionally Unstable
Are you angered, troubled, disturbed, or even excited etc. At that point don't engage the market.
4) Market Conditions are not Favourable
Every technical Analyst knows when things are unfavourable. The skill of spotting unfavorably conditions in the market is gotten by practice and study. If you are a technical analyst and you don't know please try and develop yourself.
5) When your set-up is not established
You know your pattern of trade and your set up more than I do. Once this set up has not been confirmed or has past don't trade. Don't help the market.
6) Financial Pressure
Don't put your financial burden on the market if not you will have yourself to blame. What is good is that you make a term plan and stick to it. Be gradual and moderate in your pursue of profit.
7) Series of Successes
This is difficult as one success makes you want to go on and on. Know that with series of successful trade especially in a season comes with over confidence which will make you not pay attention to your rules to effectively execute trade .
NOTE: These are not rules but advise that will advance you and make you profitable.
Do well to write what your intake is on the subject of discussed.
To keep everything short, only trade when you are ready, and that trading is a choice. Learning how to trade cannot be learned overnight, because it takes a lot of time or even a lifetime. So, if you are still unsure and doubtful, then it's a good choice to not enter the trading world. Remember that in trading you lose or generate a great amount of money and there is nothing in between them. Because people nowadays, especially those who have just begun trading, have this belief that trading is a money-granting factory and all they can do is to receive an abundance of money without knowing the drawbacks and the possible risk that comes with it.
Again, if you think that you are unprepared financially, mentally, and emotionally, then it is better not to enter the trading world yet. This is not to discourage everyone, but this more of an advice. Take your time first to acquire knowledge and skills to prepare yourself, because trading will not disappear but your money does.
2) Market is Consolidating
Surely there is no direction in the Market once it is consolidating. This will waste your time and make you make irrational decisions.
Surely there is no direction in the Market once it is consolidating. This will waste your time and make you make irrational decisions.
I have faced this many times and this is so annoying. I have lost a lot on this. There is no correct direction that you can predict in which the market might move. Doing anything during this period of time is like gambling. The sideways market is the time when we should stop and just observe until the market makes its moves. It doesn't take anything to do nothing. When there's no need to make a decision, don't make any decision.
Making any decision in this market condition when it's moving sideways will lead to bad situations. Any action taken in this time which results are negative will lead to more bad decisions in the future. It plays with our minds. So just let the market do what it is doing. When there's a more accurate indication of the market movements, only then we should make our moves. Because after sideways, it's either a huge pump or a huge dump.
3) When Emotionally Unstable
Are you angered, troubled, disturbed, or even excited etc. At that point don't engage the market.
I think these two points are very important and many traders ignore. I observe a lot of members of the trading group that I follow and sometimes I also ignore these 2 points. When we involve emotions, all we will get is loss. We cannot think clearly and see the market from another perspective when analyzing, this makes the analysis messy and tends to go in one direction only, even though the market can be in the opposite direction to what we are analyzing.
Bullish and bearish can change quickly with other factors. If we prioritize emotions then carry out analysis and believe that it is bearish but there is good news emerging, the release of economic data supports BTC's rise, this is a sudden fundamental impulse that can bring BTC to turn bullish quickly without us realizing it. The importance of emotional management and the most important thing is money management too.
6) Financial Pressure
Don't put your financial burden on the market if not you will have yourself to blame. What is good is that you make a term plan and stick to it. Be gradual and moderate in your pursue of profit.
Use absolutely free money. you are not dependent on money if a loss occurs, you are able to bear the loss. Set a long-term strategy and be disciplined.
If the money we use really doesn't give us a burden when anything bad happens then trading will run smoothly.
4) Market Conditions are not Favourable
Every technical Analyst knows when things are unfavourable. The skill of spotting unfavorably conditions in the market is gotten by practice and study. If you are a technical analyst and you don't know please try and develop yourself.
I felt this one. I do trade crypto, and this situation got me losses. I was sure about my mapping and techniques such as indicators and, of course, technical analysis, but it didn't come out well. As I review what happened, it is not entirely my fault but the market itself because sometimes market conditions can be opposite of what you expect. The saddest part is that I learned it in a hard way, by my mistake. So that's when "unstable emotion" comes in. You should always be prepared, not every day, but for every trade you will make. That's how trading works.
4) Market Conditions are not Favourable
Every technical Analyst knows when things are unfavourable. The skill of spotting unfavorably conditions in the market is gotten by practice and study. If you are a technical analyst and you don't know please try and develop yourself.
That's irrelevant, technical analysis is an effort to predict the direction of price movements, not determine whether market conditions are favorable or not.Every technical Analyst knows when things are unfavourable. The skill of spotting unfavorably conditions in the market is gotten by practice and study. If you are a technical analyst and you don't know please try and develop yourself.
There are many choices of coins that actually have different volatilities which create opposing market conditions, you have to take this deeper fundamentally and intrinsic value of a coin.
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Do well to write what your intake is on the subject of discussed.
These are all steps that need to be avoided in trading, especially regarding unstable emotions. When traders experience overwhelming emotional situations, all negative impacts will follow in a series of trading activities.Do well to write what your intake is on the subject of discussed.
Trading activities require high levels of expertise so it is not easy to make losses the main reason traders have to stop trading activities. It is difficult to predict which way the market will move. When traders feel confident that the market has moved in a certain direction, the movement unexpectedly changes.
It is not without reason that people reverse direction into investing. In this type of activity, they look relaxed because they only hope for profits or returns when the price reaches its peak. They just need consistency in buying according to financial capabilities every week and month.
I think last points is most important for stopping trading when have been in Series of Successes position, don't be greedy for all in from profitable earn from trading to start investing again and need spent or withdrawing more than 50% of assets to Bank account, invest on another real business or hold it in the bank when position have been success in trading. Don't push to earn much profit after in success position because get chance next time for losing fund.
I have bad experience when having much profitable in trading of cryptocurrency don't stop awhile for withdrawing fund to bank or invest in property but keep reinvesting until facing with crashing of market and several my coins investment price drop drastically. Have to be experience, never greedy in cryptocurrency trading and put your profitable in holding fund by saving in the bank or make it as property investment.
I have bad experience when having much profitable in trading of cryptocurrency don't stop awhile for withdrawing fund to bank or invest in property but keep reinvesting until facing with crashing of market and several my coins investment price drop drastically. Have to be experience, never greedy in cryptocurrency trading and put your profitable in holding fund by saving in the bank or make it as property investment.
In what way do you commit to trading? actually you can analyze first what are the ideal trading in your part because like other newbies mistake they always keep committing a trade even not suitable on them find your own way to trade, like the time frame which you will prefer and ideal, next is coin you are comfortable, what kind of strategy you will lose, how much and limit of the margin you will set. If you find first what are the techniques that can make you profit on your self, not as always the strategy of other people will the same as yours.
Are you going for a long term or short term, currently for the market price sideways its hard to make a trade for a long term all you can do is to hold, for the short term just making a short profit with the swings.
Are you going for a long term or short term, currently for the market price sideways its hard to make a trade for a long term all you can do is to hold, for the short term just making a short profit with the swings.
When the market does not favor what you want to happen in trading based on your analysis, it indicates you do not have to force yourself to trade that day. You may be dealing with the risk and volatility of the coin or bitcoin you are trading.
It is also required since, as an independent trader in the crypto world, you must be responsive to market action. That's accurate, there will be periods when we will make money and times when we will not be able to make as much.
It is also required since, as an independent trader in the crypto world, you must be responsive to market action. That's accurate, there will be periods when we will make money and times when we will not be able to make as much.
Next time you want a suitable subject for your thread, look for something that blend with the content and not something like this, stop trading is a very misleading topic and when they find out you are looking for a click bait, the attention you might be looking for will bot come. So take that corrections, now let's look at some of your key points you discussed.
It is not a must to take every trade and it is not a must to trade. Have you experience difficulty in the Financial Market or disappointment that affected your well being. Stated below are some essential things you need to look out for once you noticed them please stay off the market.
1) Series of Losing Trade
If you noticed that the losses you had are more in a series of trade you took then take a break. If you proceed you will start doing revenge trading and lose out. A break will help you re-evaluate yourself and maintain psychological and emotion balance.
This is the best thing to do when losses turn to normal thing, but will an expert who understands trading very well have losses concurrently, I don't think so, that's why it's better to always use have at least two open trade instead of one, it help you manage risk when things goes south.
Market consolidation is always choppy is better to avoid trades in this time or open a long trade and buy at that point but only if you are anticipating for upside direction, consolidation doesn't mean it will go up, fundamental news can screw it up and break the support to start another trend. The same goes for unstable market conditions
If you are emotionally affected, there is no point in even looking at the trades you will only blow up your account.
All your points are correct but I think they are just primary mistakes in trading, a good trader that is a serious type should know this before even going technical aspects of trading, if you failed to master all this mistakes, technical aspects of trading will not end well.
It is not a must to take every trade and it is not a must to trade. Have you experience difficulty in the Financial Market or disappointment that affected your well being. Stated below are some essential things you need to look out for once you noticed them please stay off the market.
1) Series of Losing Trade
If you noticed that the losses you had are more in a series of trade you took then take a break. If you proceed you will start doing revenge trading and lose out. A break will help you re-evaluate yourself and maintain psychological and emotion balance.
This is the best thing to do when losses turn to normal thing, but will an expert who understands trading very well have losses concurrently, I don't think so, that's why it's better to always use have at least two open trade instead of one, it help you manage risk when things goes south.
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2) Market is Consolidating
Surely there is no direction in the Market once it is consolidating. This will waste your time and make you make irrational decisions.
3) When Emotionally Unstable
Are you angered, troubled, disturbed, or even excited etc. At that point don't engage the market.
4) Market Conditions are not Favourable ]
Every technical Analyst knows when things are unfavourable. The skill of spotting unfavorably conditions in the market is gotten by practice and study. If you are a technical analyst and you don't know please try and develop yourself.
Surely there is no direction in the Market once it is consolidating. This will waste your time and make you make irrational decisions.
3) When Emotionally Unstable
Are you angered, troubled, disturbed, or even excited etc. At that point don't engage the market.
4) Market Conditions are not Favourable ]
Every technical Analyst knows when things are unfavourable. The skill of spotting unfavorably conditions in the market is gotten by practice and study. If you are a technical analyst and you don't know please try and develop yourself.
Market consolidation is always choppy is better to avoid trades in this time or open a long trade and buy at that point but only if you are anticipating for upside direction, consolidation doesn't mean it will go up, fundamental news can screw it up and break the support to start another trend. The same goes for unstable market conditions
If you are emotionally affected, there is no point in even looking at the trades you will only blow up your account.
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5) When your set-up is not established
You know your pattern of trade and your set up more than I do. Once this set up has not been confirmed or has past don't trade. Don't help the market.
6) Financial Pressure
Don't put your financial burden on the market if not you will have yourself to blame. What is good is that you make a term plan and stick to it. Be gradual and moderate in your pursue of profit.
7) Series of Successes
This is difficult as one success makes you want to go on and on. Know that with series of successful trade especially in a season comes with over confidence which will make you not pay attention to your rules to effectively execute trade .
NOTE: These are not rules but advise that will advance you and make you profitable.
Do well to write what your intake is on the subject of discussed.
You know your pattern of trade and your set up more than I do. Once this set up has not been confirmed or has past don't trade. Don't help the market.
6) Financial Pressure
Don't put your financial burden on the market if not you will have yourself to blame. What is good is that you make a term plan and stick to it. Be gradual and moderate in your pursue of profit.
7) Series of Successes
This is difficult as one success makes you want to go on and on. Know that with series of successful trade especially in a season comes with over confidence which will make you not pay attention to your rules to effectively execute trade .
NOTE: These are not rules but advise that will advance you and make you profitable.
Do well to write what your intake is on the subject of discussed.
All your points are correct but I think they are just primary mistakes in trading, a good trader that is a serious type should know this before even going technical aspects of trading, if you failed to master all this mistakes, technical aspects of trading will not end well.
7) Series of Successes
This is difficult as one success makes you want to go on and on. Know that with series of successful trade especially in a season comes with over confidence which will make you not pay attention to your rules to effectively execute trade .
This is difficult as one success makes you want to go on and on. Know that with series of successful trade especially in a season comes with over confidence which will make you not pay attention to your rules to effectively execute trade .
I do agree on most of your point except this one. Success is the ultimate goal of every trader that’s why we are trading so if you are stopping just because you have multiple successful trading is kinda stopping your momentum. Consistency means you are using the right strategy which you should capitalize once still working.
Stop when you are experiencing loss and not multiple success. I believe the one you are trying to express here is to stop aiming for more profit by adding more risk to your current successful trading. Because there’s a lot of trader that loss everything despite they have consistent profit just because they are greedy to enter more risky trade just earn higher profit.
I find out that Hedge Funds managers gives there staff that are profitable holidays. I was thinking it was just for fun or for them to enjoy themselves but I was wrong all the way. It was one of the Hedge fund managers that exposes the truth that with a lot of successes comes other factors. He said the break they give is for the staff to ease off and regain their mental wellness. He said that if successes is not manage it will eventually lead to failure.
Good advise OP, there are many traders in the community have been experiencing losses in their investment and they don't want to take a break and go into personal research to know how to recover from their failure in crypto trading. Once you take a break to study the market price very well, and see when potential traders use to buy coins and hold for the right time to come before they can trade to make a good profits from the market, I think it will really help new traders to improve in profit making. Don't invest what you can't afford to lose in crypto trading, because some traders has invested all they have in crypto investment hoping that the amount of money you invest will determine your profits when you trade in the market.
If one sees losing his money then it is a bit difficult to control the emotions. You are right that if someone is mentally disturbed, he should not come to trading, but in my opinion, if you are mentally disturbed, neither trading nor any work is good. And if someone is financially weak, then he should think about it.
The reality in trading is that when you trade there is actually emotion involved either you're winning or losing. The difficult thing is that when we are just a beginner in trading we don't have an edge yet.So if you're going to trade, you have to make sure that your trading plan is enough to be profitable. You can confirmed it by backtesting your strategy. Since backtesting trades has no emotion, live trading has. So we have to make sure that no matter what happens to our trade we have to accept no matter the outcome, don't afraid of losing trades. The most important is, you stick in your plan and journal your trades.
1) Series of Losing Trade
2) Market is Consolidating
3) When Emotionally Unstable
4) Market Conditions are not Favourable
5) When your set-up is not established
6) Financial Pressure
7) Series of Successes
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NOTE: These are not rules but advise that will advance you and make you profitable.
Do well to write what your intake is on the subject of discussed.
They are in fact sound recommendations that are crucial for traders, particularly those who are new to trading cryptocurrencies or bitcoins, in order to reduce risk and prevent them from losing money on deals that weren't profitable. Do well to write what your intake is on the subject of discussed.
In addition to the series of successes, I would also add a series of money losses. This is sometimes even harder to accept than earning money. When there is some desire to recoup and return the money, which often ends in even greater defeat.
Also, you should not trade if you have had a hard day and you are simply tired and your thought process is slow and your body needs rest.
You need to know yourself, in addition to your strengths, know your weaknesses and protect them as much as possible so as not to lose money where this can be avoided
Also, you should not trade if you have had a hard day and you are simply tired and your thought process is slow and your body needs rest.
You need to know yourself, in addition to your strengths, know your weaknesses and protect them as much as possible so as not to lose money where this can be avoided
I would say this does work for some people like me. Not everyone has to be a trader and I still trade a small amount just for fun and to learn how to be better and try to learn more about trading even after so many years, but majority of my money is on long term investment and I do not think that I could continue to trade for a profit. It would be a bad idea to do something like that and it should be quite difficult to handle something like that.
I believe that we are going to end up with a result that should be something that would be a lot more risky if we are not careful and that is why we are going to end up with a good result if we are careful and should be something that would make a lot more profit if we go long term.
And that is something many traders do not see, they only think about the profits they can get and think long term holders are just wasting their time by holding their coins for so long, however the majority of the traders lose all their money and only a small minority make any profits, while long term holders which can keep their coins for a few years not only make more money on average than all of those traders put together, but they do so with way less effort and with better odds of this happening. I believe that we are going to end up with a result that should be something that would be a lot more risky if we are not careful and that is why we are going to end up with a good result if we are careful and should be something that would make a lot more profit if we go long term.
NOTE: These are not rules but advise that will advance you and make you profitable.
Do well to write what your intake is on the subject of discussed.
You have pointed out some good factors that we all should keep in mind before making trades, but I don't know why you chose the title "Stop Trading" when you can write a better one. I hope you won't mind my words, but I wanted to add it to your account that an eye-catching and valuable title is better.Do well to write what your intake is on the subject of discussed.
Besides that, you have shed good light on the above factors.
You should add another factor, which is never marrying with one coin. A few days ago, I read a topic in which the OP tried to emphasize that we should not stick to only one coin for trading but instead, we should diversify our investments. And a series of successes is not that important to stop the trading, instead, we should be a little more careful with our discipline and never spread more legs.
Like I did when I made $9 in one day and still took another trade without any analysis and ended up cleaning up my whole future account.
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