The biggest No while trading | Bitcointalksearch.org

CarnagexD

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Quote from: Kara3 on May 16, 2023, 06:05:23 PM

Trading will be more favorable too you when you have a system/strategy that works for you, but no matter how perfect you feel your system/strategy is,

Don't ever trade under pressure. pressure to pay off a debt,
pressure to pay your rent/ Bill's.

I till repeat, Don't ever trade
under pressure because no matter how you do, that pressure will make you do the following,

- over trading: once you start over trading while under pressure, your decision making will be very poor.

- less control over your emotions: it is near impossible to control your emotions while under pressure, like rent an debt.

- poor risk management: your risk management will not be put to good use because you are desperate, you want to meet up and that will be when time will be working against you, so please fellow traders stop trading under pressure,
I don't know if anyone have more to add?

Trading the market will make you involve with unlimited pressure and uncertainties. That if you do this you will never be able to trade.
The thing is, pressure is normal. What you need to do is ask your self, how can you handle the pressure. If you cannot, then take a break. If you can, then get in front of your chart, do the work and your analysis.

It is a fallacy that you have to avoid the pressure. Because in trading, oftentimes the hard trades are the right ones. It is just a matter of how can you handle your self, your emotion, your actions under pressure.

Dr.Bitcoin_Strange

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Quote from: Kara3 on May 16, 2023, 06:05:23 PM

Trading will be more favorable too you when you have a system/strategy that works for you, but no matter how perfect you feel your system/strategy is,

Don't ever trade under pressure. pressure to pay off a debt,
pressure to pay your rent/ Bill's.

I till repeat, Don't ever trade
under pressure because no matter how you do, that pressure will make you do the following,

Lol, it's funny how you say it, though, but who will really trade under pressure and expect to make a profit? When people don't rely on only trading, there will be no need to trade under pressure; just pay some urgent bills. I don't know how others feel about it, but I will not advise anyone to just rely on trading as a sustainable source of income, because what if the source becomes not really sustainable again due to some certain circumstance? Some weeks ago, a newbie created a thread where he suggested that he wants to quit his job and start trading, which means he will only be living on every profit that comes from trading, and in trading, it's not every time that one will make a profit.

As a newbie to trading, it will really take a lot of time to develop a strategy that works best for you—not by taking other strategies from the internet and believing they can earn you a lot more profit, but if they are practically used, they can result in several losses.

Russlenat

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Quote from: SOKO-DEKE on May 18, 2023, 04:48:21 PM

Quote from: Kara3 on May 16, 2023, 06:05:23 PM

Trading will be more favorable too you when you have a system/strategy that works for you, but no matter how perfect you feel your system/strategy is,

Don't ever trade under pressure. pressure to pay off a debt,
pressure to pay your rent/ Bill's.

I till repeat, Don't ever trade
under pressure because no matter how you do, that pressure will make you do the following,

- over trading: once you start over trading while under pressure, your decision making will be very poor.

Trading under pressure is a bad habit, especially when someone is doing it to meet their needs, as you mentioned like to pay bills or pay off debt. In these situations, someone will undoubtedly be desperate to make a profit large enough to cover their expenses, and from that mindset, they will likely become upset and may then make poor decisions. Pressure should not only be avoided in trading but in all facets of life as well, as it causes significant tension that can result in frustration.

However, pressures are sometimes unavoidable, so it’s best not to trade at that moment. It’s the only way you will get to avoid losses, otherwise you continue to experience pressure and prolong your loss experience. Also, never trade when you have no stable source of income in the first place. Trading will only give you pressures if you do that. Especially if you use money to trade to pay bills later on, surely it will cause a big trouble in the future.

isaac_clarke22

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Quote from: Kara3 on May 16, 2023, 06:05:23 PM

~

Starting off, if you're "under pressure paying off debt" then there must be something really wrong in here. That would mean that you're relying in trading to pay off your bills just like you mentioned. I would advise first to just not rely in trading if you don't have any stable work that can reliably pay your bills.

Not sure what you mean by over trading, but again, if you're already under pressure, it might be worth looking for another stream of income as the market is truly volatile and not really reliable for full-time work. Emotions are part of being you, just remember why you traded in the first place.

Quote from: Josefjix on May 20, 2023, 10:02:20 AM

Newbies are 90% guaranteed to become victims of vital losses, because they are just new in the space and eager to place trades. Every trader's ultimate goal is to stock earnings from the market while also gaining enough experience to apply an effective strategy to the market. Risk management is the most important factor to consider before initiating a trade; we should constantly be concerned about our portfolio; the market is designed to liquidate our accounts, therefore we have to utilize solid tactics to circumvent it. Losses are inevitable in the market; even professional traders suffer losses; we must carefully monitor every action we take when trading.

It's not 90%. It's always guaranteed, but I would not even call it "victim", just those times that they're still learning. I've been there but I quitted as trading isn't really a reliable source of income for me.

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Quote from: Kara3 on May 16, 2023, 06:05:23 PM

Trading will be more favorable too you when you have a system/strategy that works for you, but no matter how perfect you feel your system/strategy is,

Don't ever trade under pressure. pressure to pay off a debt,
pressure to pay your rent/ Bill's.

I till repeat, Don't ever trade
under pressure because no matter how you do, that pressure will make you do the following,

- over trading: once you start over trading while under pressure, your decision making will be very poor.

- less control over your emotions: it is near impossible to control your emotions while under pressure, like rent an debt.

- poor risk management: your risk management will not be put to good use because you are desperate, you want to meet up and that will be when time will be working against you, so please fellow traders stop trading under pressure,
I don't know if anyone have more to add?

It’s really useless to work under pressure because that will make your job ineffective. Especially in trading, where emotional management is of high necessity, then you should not resort into trading when your emotions are not stable and you are in state of doubt or uncertainty. Otherwise, you will only end up wasting your money and effort while forcing your trades to become successful.

Josefjix

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Quote from: Nrcewker on May 20, 2023, 09:05:33 AM

Everyone should focus on the risk management thing. If you can’t properly manage the risk while trading, then definitely you will end up making losses. The importance you give to make profit, that much similar importance also needed to make sure that you don’t make losses. When you try to reduce losses, then only it will convert into profits. So yes managing the risk involved in each and every trade should be kept above. At last if you are a beginner then you should trade only that amount, that you can afford to lose.

Newbies are 90% guaranteed to become victims of vital losses, because they are just new in the space and eager to place trades. Every trader's ultimate goal is to stock earnings from the market while also gaining enough experience to apply an effective strategy to the market. Risk management is the most important factor to consider before initiating a trade; we should constantly be concerned about our portfolio; the market is designed to liquidate our accounts, therefore we have to utilize solid tactics to circumvent it. Losses are inevitable in the market; even professional traders suffer losses; we must carefully monitor every action we take when trading.

Nrcewker

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Everyone should focus on the risk management thing. If you can’t properly manage the risk while trading, then definitely you will end up making losses. The importance you give to make profit, that much similar importance also needed to make sure that you don’t make losses. When you try to reduce losses, then only it will convert into profits. So yes managing the risk involved in each and every trade should be kept above. At last if you are a beginner then you should trade only that amount, that you can afford to lose.

ancafe

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Quote from: Kara3 on May 16, 2023, 06:05:23 PM

- poor risk management: your risk management will not be put to good use because you are desperate, you want to meet up and that will be when time will be working against you, so please fellow traders stop trading under pressure,
I don't know if anyone have more to add?

The point is you have to trade when you are ready with all the losses, trading because you think you will be able to pay off debts and pay rent bills is not recommended because in circumstances like this our psychology is often disturbed and unstable. Risk management is very necessary, this does not only apply when you trade in crypto but in life you must also have a pattern of minimizing risk. Trading in your crypto requires a lot of attention and you also have to understand the chart and graph patterns, even though most people know this method but risk management is also very necessary to control it.

When you are under pressure and you know how to control the risk of losing it is not a problem. For day traders it is impossible to stop trading for reasons of being under pressure and vice versa they understand when to stop trading and know how to get out so as not to suffer big losses, although for novice traders it is not recommended to trade under pressure because of the mindset of beginners with people who already understand trading patterns are much different.

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Quote from: IvugeoEvolutionCoin on May 20, 2023, 12:29:40 AM

Quote from: Johnyz on May 19, 2023, 05:18:52 PM

Quote from: jeraldskie11 on May 18, 2023, 06:29:31 PM

Don't ever trade if you're doing this to pay your debt because it's not a good idea especially if you have no source of income other than this. It will just makes you lose more money in trading because you will force to trade and when you are consistent in losing it will make you revenge in trading which is very dangerous that will risk your capital so much. Just trade with small funds and don't rely your daily needs with it. You need to have outside job until you're a profitable in trading and you proved that trading can sustain your daily needs.

Trading is not a good source of income for newbies, because losing is normal so its not really advisable to trade and expect profit in return instantly. There’s a lot of pressure that you need to consider before trading, make sure that you will start doing this if you are already financially capable. I do lose a lot of money from trading because of a lot of mistakes, and I’m telling this based on my own experience, don’t ever go full time trader if you don’t have the right knowledge yet, its too risky.

We know that almost everyone has lost their money while trading in new situation. But the more money you lose, the more you can learn new strategies from here. I think you should think before trading and trade after. But if you take advice from others. It might be a little better for you.

But instead of learning from mistakes, sometimes it's difficult for you to overcome this kind of stuff because you're still doing a trade even though you're consistent in losing. You can't immediately learn from your mistakes by the time your previous trade was not successful because you're emotional that time that's why you have to distance your self in the chart and take a break such as going to the beach, gym, or place that helps you lower the stress level especially if your losing is consistent. After that, If you feel like you're okay and your emotions were back to normal, then that's the best time to open a chart and determine what was the mistake in your previous trade.

boyptc

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Quote from: irhact on May 20, 2023, 05:26:37 AM

As a trader, if you don't have a system or strategy yet, you shouldn't start trading or you'll end up losing your capital, as a starter in trading you can start with using your mentor's strategy or anybody that you learnt trading from. It could be an online coach where you watch them as they trade, there's a strategy they used therefore you can start with that but as you trade more, create your own strategy.

I think for a newbie that's just there to learn, they don't have to be wary about such and just execute their trades so that they'll gain experience. That's the utmost thing they should have and that's to initiate and start. It's given that as a newbie, they could potentially lose their money but if they're up for it and willing to learn, that's like the enrolment fee for the lessons they'll learn.

Quote from: irhact on May 20, 2023, 05:26:37 AM

Without a strategy, there won't be any plans to follow and without a plan you won't have what to rely on to create again the success you had with your previous trades. never borrow money to trade or you'll be under pressure to win and pressure mess with your thinking.

They'll come up with a strategy soon after learning how the market works. That's gonna make them wiser the 2nd time around when they've tasted how cruel the market is.

Litzki1990

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A healthy brain should do stress free trading because in stress free trading there is very less chance of making wrong decisions but when we have a lot of tension in our head and when we are mentally weak then we will not be able to make the right decision so we will never be successful in trading. One should never trade on credit. If there is more than a certain amount of money. the money that is damaged but will not affect your life much then trading should be done with that money. In the case of trading, one should always understand well and then make a decision, no decision can be made on the basis of emotions. In trading we need to be very patient along with strengthening our mind, if we can do these things correctly then we can profit from trading.

cydrix

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Trading under pressure will only lead to more pressure because when trading normally, a trader is already under pressure to be able to turn a profit in addition to trying to get a profit because he needs his money to pay for things that are important. Trading under pressure will only lead to trading making numerous mistakes because it begins under pressure. However, many new traders mistakenly believe that trading is the quickest way to double their money and open a buy position when they see that there is a panic, the price will fall quickly and improve too, but in reality, they are mistaken because the panic lasted quite a long time and the decline was very deep, while he needs money quickly and the next step is to sell with the condition that the asset has fallen quite deeply. The lesson is to not double your money in trading out of a sense of urgency since it is foolish.

irhact

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Quote from: Kara3 on May 16, 2023, 06:05:23 PM

Trading will be more favorable too you when you have a system/strategy that works for you, but no matter how perfect you feel your system/strategy is,

Don't ever trade under pressure. pressure to pay off a debt,
pressure to pay your rent/ Bill's.

As a trader, if you don't have a system or strategy yet, you shouldn't start trading or you'll end up losing your capital, as a starter in trading you can start with using your mentor's strategy or anybody that you learnt trading from. It could be an online coach where you watch them as they trade, there's a strategy they used therefore you can start with that but as you trade more, create your own strategy.

Without a strategy, there won't be any plans to follow and without a plan you won't have what to rely on to create again the success you had with your previous trades. never borrow money to trade or you'll be under pressure to win and pressure mess with your thinking.

IvugeoEvolutionCoin

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Quote from: Johnyz on May 19, 2023, 05:18:52 PM

Quote from: jeraldskie11 on May 18, 2023, 06:29:31 PM

Don't ever trade if you're doing this to pay your debt because it's not a good idea especially if you have no source of income other than this. It will just makes you lose more money in trading because you will force to trade and when you are consistent in losing it will make you revenge in trading which is very dangerous that will risk your capital so much. Just trade with small funds and don't rely your daily needs with it. You need to have outside job until you're a profitable in trading and you proved that trading can sustain your daily needs.

Trading is not a good source of income for newbies, because losing is normal so its not really advisable to trade and expect profit in return instantly. There’s a lot of pressure that you need to consider before trading, make sure that you will start doing this if you are already financially capable. I do lose a lot of money from trading because of a lot of mistakes, and I’m telling this based on my own experience, don’t ever go full time trader if you don’t have the right knowledge yet, its too risky.

We know that almost everyone has lost their money while trading in new situation. But the more money you lose, the more you can learn new strategies from here. I think you should think before trading and trade after. But if you take advice from others. It might be a little better for you.

JeffBrad12

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Quote from: Johnyz on May 19, 2023, 05:18:52 PM

Quote from: jeraldskie11 on May 18, 2023, 06:29:31 PM

Don't ever trade if you're doing this to pay your debt because it's not a good idea especially if you have no source of income other than this. It will just makes you lose more money in trading because you will force to trade and when you are consistent in losing it will make you revenge in trading which is very dangerous that will risk your capital so much. Just trade with small funds and don't rely your daily needs with it. You need to have outside job until you're a profitable in trading and you proved that trading can sustain your daily needs.

Trading is not a good source of income for newbies, because losing is normal so its not really advisable to trade and expect profit in return instantly. There’s a lot of pressure that you need to consider before trading, make sure that you will start doing this if you are already financially capable. I do lose a lot of money from trading because of a lot of mistakes, and I’m telling this based on my own experience, don’t ever go full time trader if you don’t have the right knowledge yet, its too risky.

agreed with this many seem underestimated the difficulty of trading because they know some people become successful thought may be they will also become successful but here's the thing, trading really requires a lot of knowledge and good decision making which most of newbie just gonna outright fails, winning the first time, that's just newbie's luck but see after series of trading decision and see whether this newbie could generate consistent profit.
there's reason why many are still sticking with trading signals and just copy trading from some famous traders because they know their knowledge aren't that good enough.

Johnyz

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Quote from: jeraldskie11 on May 18, 2023, 06:29:31 PM

Don't ever trade if you're doing this to pay your debt because it's not a good idea especially if you have no source of income other than this. It will just makes you lose more money in trading because you will force to trade and when you are consistent in losing it will make you revenge in trading which is very dangerous that will risk your capital so much. Just trade with small funds and don't rely your daily needs with it. You need to have outside job until you're a profitable in trading and you proved that trading can sustain your daily needs.

Trading is not a good source of income for newbies, because losing is normal so its not really advisable to trade and expect profit in return instantly. There’s a lot of pressure that you need to consider before trading, make sure that you will start doing this if you are already financially capable. I do lose a lot of money from trading because of a lot of mistakes, and I’m telling this based on my own experience, don’t ever go full time trader if you don’t have the right knowledge yet, its too risky.

Bushdark

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Based on what op is trying to pass to us that we should not very trade under pressure. There are good pro traders that don't have issue with trading under pressure because they are already used to it and know how to find there way out if anything wrong could happen to them. The information of not trading under pressure us mostly pass towards the newbie traders and those that are still trying hard to earn from the market.

Those that are already a consistent profitable traders know how to find there way out when they seem to make common mistake that could make them lose money compare to someone that is in the market trying hard to earn some profits without the versatile skills and experience to keep going.

Nheer

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Quote from: Kara3 on May 16, 2023, 06:05:23 PM

Trading will be more favorable too you when you have a system/strategy that works for you, but no matter how perfect you feel your system/strategy is,

Don't ever trade under pressure. pressure to pay off a debt,
pressure to pay your rent/ Bill's.

It has always been suggested to have a trading plan that you stick to and a strategy that works for you. Trading involves specialized knowledge, therefore you cannot just go into it without any background in it.
This doesn't just apply to trading; in life, we should avoid acting under duress because it's terrible form and will cost you all you were hoping to gain. Trading cryptocurrencies is not a place where you can just show up whenever you want and take money because you have a debt to pay off. The majority of the time, trading under pressure will result in you losing money.

Quote from: Kara3 on May 16, 2023, 06:05:23 PM

under pressure [/b] because no matter how you do, that pressure will make you do the following,

- over trading: once you start over trading while under pressure, your decision making will be very poor.

- less control over your emotions: it is near impossible to control your emotions while under pressure, like rent an debt.

- poor risk management: your risk management will not be put to good use because you are desperate, you want to meet up and that will be when time will be working against you, so please fellow traders stop trading under pressure,
I don't know if anyone have more to add?

Trading under pressure unquestionably has additional drawbacks than those already highlighted by the OP. You'll start trading more only to accomplish your urgent objective. Just like the OP indicated, it frequently results in excessive trading, poor risk management, and poor emotional control.

Additionally, trading under pressure frequently results in the complete loss of assets due to greed.

cryptomaniac_xxx

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Trading always requires attention. This is an option that is really difficult to call a simple job. For this reason, I advise you to devote enough time to the issue of training.

And we've heard OG traders like Warren Buffett who says that they spend time on their trading, so yeah, it's requires more attention as what we previously thought. Although there is bots in crypto market, still though, not recipe for a win, you still have to see how and what it does and set the parameters.

As for the emotions, this is one of our worst enemy, really hard to control and it takes time and dedication and self discipline to fight it out and trade base on logic and what the market movement is. Otherwise, we are going to lose big money in the long run and it will be gambling for us.

Mr.right85

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Quote from: Kara3 on May 16, 2023, 06:05:23 PM

Trading will be more favorable too you when you have a system/strategy that works for you, but no matter how perfect you feel your system/strategy is,

Don't ever trade under pressure. pressure to pay off a debt,
pressure to pay your rent/ Bill's.

I till repeat, Don't ever trade
under pressure because no matter how you do, that pressure will make you do the following,

You've got a good point with this. You know, pressure could be seen as a drive towards some emotional drama. You already have a target either subconsciously or not and would be more about archiving what goals are there within that set target.
This pushes you to see reason why every looked up analysis or indicator should make sense thereby, pushing you into doing more trades than necessary and your sure to find yourself with more loses than you can hope to bear. That's how bad it is.

When it comes to debt and settling a loan, trading isn't your best strategy. Better sort out some other means and later trade gradually to settle it off alongside other means to a living.

Topic: The biggest No while trading (Read 300 times)