Top reasons that leads to fail in trading - page 10.

Wipro

hero member

Activity: 924

Merit: 512

Quote from: cotton ball on April 30, 2018, 01:50:27 PM

Quote from: novocaine on March 27, 2018, 09:19:32 PM

One of the reasons that you may lead to failure in the future of trading is being emotional..

Not only in trading but also in any kind of investment because as much as you would like to hold your investment, when you will check the status of the coins that you holding you got easliy panic after hearing or reading bad news about it and decided to sell whatever you have believing it can save you from big lost.

this is not very important to me, for some time ago I used to do sales in a state of emotion because it is related to the necessities of life, so there is no pause in my mind to hold some coins that I consider potential, maybe the passage of time can provide a solution to errors This fatal because many coins that look prospective.

I do not why you guys are trading coins all the time instead of holding. Hodl is the best way to make the money if you trading you are loosing the money for the few amount profit and finally all the fund you have will not be in your hand bro.
If you loosing the money on trading, maximum you may not fixed the selling when the right time and not buying the crypto currency when the price is low. If you done this both in the perfect time finally you can make more money.

cotton ball

sr. member

Activity: 1288

Merit: 253

Quote from: novocaine on March 27, 2018, 09:19:32 PM

One of the reasons that you may lead to failure in the future of trading is being emotional..

Not only in trading but also in any kind of investment because as much as you would like to hold your investment, when you will check the status of the coins that you holding you got easliy panic after hearing or reading bad news about it and decided to sell whatever you have believing it can save you from big lost.

this is not very important to me, for some time ago I used to do sales in a state of emotion because it is related to the necessities of life, so there is no pause in my mind to hold some coins that I consider potential, maybe the passage of time can provide a solution to errors This fatal because many coins that look prospective.

Asoss.io

member

Activity: 87

Merit: 13

Thanks everyone for sharing your trading strategy

ttking

member

Activity: 324

Merit: 10

In my opinion, two reasons, why you can fail in trading are being emotional and not learning the basics. The sphere of trading is very diversified and you should be smart to know how to trade to earn a living.

lagoon88

jr. member

Activity: 1523

Merit: 1

Always have patient in trading, if not, then you would fail and the other reason is avoid day-trading.

novocaine

full member

Activity: 392

Merit: 101

One of the reasons that you may lead to failure in the future of trading is being emotional..

Not only in trading but also in any kind of investment because as much as you would like to hold your investment, when you will check the status of the coins that you holding you got easliy panic after hearing or reading bad news about it and decided to sell whatever you have believing it can save you from big lost.

spiderm4n15

member

Activity: 168

Merit: 15

- Not Maintaining Trading Discipline
The largest mistake any trader can make is to let emotions control trading decisions. Becoming a successful forex trader means achieving a few big wins while suffering many smaller losses. Experiencing many consecutive losses is difficult to handle emotionally and can test a trader's patience and confidence. Trying to beat the market or giving in to fear and greed can lead to cutting winners short and letting losing trades run out of control.

- Trading Without a Plan
Whether one trades forex or any other asset class, the first step in achieving success is to create and follow a trading plan. "Failing to plan is planning to fail" is an adage that holds true for any type of trading. The successful trader works within a documented plan that includes risk management rules and specifies the expected return on investment (ROI).

Asoss.io

member

Activity: 87

Merit: 13

Thanks everyone for sharing extra info in the comments

proTECH77

member

Activity: 1120

Merit: 30

Bisq Market Day - March 20th 2023

Quote from: Asoss.io on January 29, 2018, 06:35:46 PM

Top reasons that leads to fail in trading

Being emotional. It's hard to control your emotions especially once prices go down and you see all your money go down the drain. The panic seller's attempts to cut losses has only hurt them more in the process and makes them end up losing even more. Unfortunately, FOMO takes over and this is what kills the newbie traders. Using your emotions will probaly lead you to lose everything..

Drifting through the wind. chasing the ones that are already pumping, which is very risky. You bought when the price is still high then price dropped and you are holding a bag of expensive coin.

Don't put all your eggs in one basket. Diversity. Diversify your investments so if one falls, other investment may help you to recover.

For best in the trading field you need these 5 things to be added in your check list, as all these five things are pillars of success here in the trading.
1) Solid Trading Strategy
2) Trade Plan
3) Money Management Skills
4) Reasons for Entries and exits.
5) Journal, News

P.s
I have quote some people words from my last topic

Putting emotions into trading, is one key factor that can make you lose in a trade. This mostly occur when someone puts a reasonable amount of money such as his/her savings in the trade. Which is why it is always advisable to trade with money that can be path with.

Theb

hero member

Activity: 1680

Merit: 655

Quote from: Asoss.io on January 29, 2018, 06:35:46 PM

Don't put all your eggs in one basket. Diversity. Diversify your investments so if one falls, other investment may help you to recover.

I agree with the rest of your post but not this one. As from what you are saying you are interchanging Investing to Trading which is totally different from each other. In Trading the tactic "Diversification" is not good as diversification is meant for investing as you wouldn't want your asset to be affected by another industry. You are also mixing Fundamental Factors in Trading which is totally irrelevant

Diversifying will only lessen your capital as you will spread it out to many cryptocurrencies. Also by doing so you will be managing a lot of coins instead of focusing on only one coin.

Marrionbitcoin

member

Activity: 294

Merit: 11

Quote from: Asoss.io on January 29, 2018, 06:35:46 PM

Top reasons that leads to fail in trading

Being emotional. It's hard to control your emotions especially once prices go down and you see all your money go down the drain. The panic seller's attempts to cut losses has only hurt them more in the process and makes them end up losing even more. Unfortunately, FOMO takes over and this is what kills the newbie traders. Using your emotions will probaly lead you to lose everything..

Drifting through the wind. chasing the ones that are already pumping, which is very risky. You bought when the price is still high then price dropped and you are holding a bag of expensive coin.

Don't put all your eggs in one basket. Diversity. Diversify your investments so if one falls, other investment may help you to recover.

For best in the trading field you need these 5 things to be added in your check list, as all these five things are pillars of success here in the trading.
1) Solid Trading Strategy
2) Trade Plan
3) Money Management Skills
4) Reasons for Entries and exits.
5) Journal, News

P.s
I have quote some people words from my last topic

I totally agree with all of them and as what I have experienced, we get too panic if the prices goes down for some time. We should be patient and be still in our stratgey and hoping that it will materialize soon. Also, we should keep ourselves updated with the news about our economy and Bitcoin forecast so that we will not get suprise if prices goes down and up. We also need to understand the candle stick graph because it will really help you to at least have an idea on when is the best time to buy, sell or hold. There are so many materials out there that we can utilize to help us in trading Bitcoin, Stocks, Bonds and many more.

olia10

member

Activity: 168

Merit: 10

It's easy to lose composure by watching how the price, which has almost reached a high level, is swiftly unfolding and flying dozens of points in the opposite direction after the release of unexpected economic or political news. However, the trader must be prepared for such situations.

Xising

sr. member

Activity: 910

Merit: 257

For me, it is also being emotional. Not being able one's emotions when it comes to trading plays a big factor on how a trade will turn out to be. So, the best thing to do is to establish self-discipline in order to increase the success in trading, thus giving a guarantee in earning. In addition, learning about trading also helps a person be more effective as a trader.

Coin12

full member

Activity: 238

Merit: 102

1st of May

Quote from: ngacengan on January 30, 2018, 06:48:43 AM

yes you are right most people who can not have a very high patience to make people become loss or fall, there is also a weak when the price drops sharply they panic and sell it instantly at a cheap price while the price after it goes back up it would make people very loss, so the key is to require a lot of patience.

Keep ourselves patience is very easy to say but in reality its very difficult to do.
Then we have to learn how to manage patience. Not many people can do that include me. Its so difficult.

izzy13

jr. member

Activity: 225

Merit: 1

Great thread. I learn a lot from threads like this.
As a newbie, it is important to me to learn how to "read the wind" in this bussiness, eventhough most of its dynamics are generally unpredictable. It's like a mixture of forex and stock exchange, and other kinds contained in it. But basically it has the same principals: do not be emotional, do not be greedy, open to diversities, etc.

eloymjb

full member

Activity: 247

Merit: 100

for me the top reason that leads to fail in trading. is being greedy to have a huge profit instead of step by step procedure and a lack of knowledge on which coins that you want to buy on exchange. there's a lots of coins that fail in marketing even if a huge potential in their project. just research first before you do any action.

TehJoker

full member

Activity: 157

Merit: 100

"Drifting through the wind": there is no doubt that is the most dangerous reason why many people lose their money. In my opinion, we just buy and trade which i could understand. Besides, we also should not invest in coin which do not have good products.

slothboy

newbie

Activity: 35

Merit: 0

Not patience enough and move too fast. it's too volatile so we must take our action slower.

Scallywag

full member

Activity: 249

Merit: 100

Quote from: mega on February 27, 2018, 02:40:42 PM

People fails they excited to start without any knowledge and even dont know about statistics of charts.Investing at on place mainly chances to loose money. Emotions also play best role in trading need to control the emotions according to the situations.
Learning should not be stop it groom skills which help out to take right decisions.

and in addition to that i requires at lot of time invested , and you need to be generally smart. it isn't as simple as buying a random shitcoin and hoping it goes up soon.

mega

hero member

Activity: 812

Merit: 500

People fails they excited to start without any knowledge and even dont know about statistics of charts.Investing at on place mainly chances to loose money. Emotions also play best role in trading need to control the emotions according to the situations.
Learning should not be stop it groom skills which help out to take right decisions.

Topic: Top reasons that leads to fail in trading - page 10. (Read 3206 times)