Trading mistakes - page 3. | Bitcointalksearch.org

lienfaye

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Quote from: ?? on ??

Indeed, these are some of the most common mistakes. In my opinion, there's also trading based on emotion, overestimating your capabilities, not finding catalysts, and so on. I've already learned my lesson, and now I pay attention to every single move.

Experience is a best way to learn and understand further the nature of trading. Its quite common to commit mistakes if we are just newbies, after all, those pro traders nowadays are once a newbie too.

We must be aware of the things to consider like our emotion, the time and money management. If we know these and aware of the possible situations that we might experience along the way then we can overcome and face these problems smoothly.

Nellayar

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Quote from: Mpamaegbu on July 07, 2020, 12:22:01 AM

OP should've included Money Management (MM). No matter what a trader does on the market and he's unable to control his lot size to match his trading capital then it's an untamed risk. Sooner than later that account would burn. Traders should concentrate on the pips they make per trade and not on the cash/profit equivalent. That way they won't over lot on trades.

This is the reason why I almost failed when I started in trading before. I have always overbuying mentality in trading. I always thought that the price is low enough and anytime, the coin will move up. In short, I have no money management. And I modified this mentality along the way because I realized that in order to survive the market, I should divide my capital, have a portfolio and do not be overpurchasing. Now, I manage to spend my fund in and outside of trading.

DarkDays

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Quote from: bitbunnny on May 22, 2020, 04:16:33 PM

To my opinion some of the most often mistakes that traders make is lack of risk assesment and greed

Risk assessment is so big that sometimes it can even go unnoticed by the untrained eye. The ability to spot if this trade as opposed to the alternative options is riskier but at the same time more likely to pay off is what bothers everyone. Even after making a decision that returns them a profit when the alternative might have given them higher returns - as you can spot the latter points at greed.

The point to take home is that assessing how much you can afford to invest and how stretched you can get with that is of paramount importance when trading but at the same time it is also set at the individual level. And because of that nobody can give you a secret recipe, you just need to figure this out on your own, and it takes practice.

bearexin

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Quote from: South Park on July 12, 2020, 09:50:33 AM

it is easy to be afraid or to be mad after a losing trade and many people try to recover the money they have lost immediately not understanding that sometimes you are going to have many losing trades in a row and you need to accept it, as such even if you have a strategy that makes money if you do not control your emotions you will eventually lose money as you do not follow it when it really counts.

Yes, simply you do not get emotionally failed after one loss because it will eventually affect all your future trades. Mistakes are common in trading even for professionals. So, we must need to simply accept the mistakes and then must move on, so that we could focus on trades which will be the more important thing to recover the previous losses. If we do not realize this fact and we still give importance to previous losses then we will again make a losing trade which will definitely worsen the situation more than before.

Always maintaining emotional stability is more important in trading especially when we are tackling with losing trades. Because, once we lost, this world is not going to end there. We must realize there are enough opportunities to overcome.

Usually, if they make a mistake and I booked loss in trading then I will stop for the day. Because I just want to fresh up my mindset which is possible only if I take a break. This way I have managed to recover my losses along with profits. But this has not become my practice in the beginning this itself. After lots of frustrating days, I find this method because this way I am finishing off my trades in profits.

South Park

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Quote from: carter34 on July 07, 2020, 04:44:52 PM

Quote from: kesmex on June 29, 2020, 02:04:36 PM

it's natural that someone has a mistake when trading, I've also experienced it, I lost $ 100 just because I could not hold my emotions and did not determine the right position

Trading skills also include the ability to cage your emotions. This is not easy to do most times when you getting that idea to get profit you assume Grin

. It takes a very experienced trader to handle emotional challenge with trading. But your loss shouldn't make you quit trading. If you understand emotion as a challenge, you can adjust with time.

Many traders do not really put attention to it and however it is critical to maintain the control of your emotions at all times but this is especially true when the market turns against you, it is easy to be afraid or to be mad after a losing trade and many people try to recover the money they have lost immediately not understanding that sometimes you are going to have many losing trades in a row and you need to accept it, as such even if you have a strategy that makes money if you do not control your emotions you will eventually lose money as you do not follow it when it really counts.

cytpoway121

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I would not term not prepared as a trading mistake, it is self indulgence and pride not to learn basics of anything before delving into it. In similar view, you must know what it is about trading before you try it, especially the entries and exit points.

Likewise, over trading cannot be a trading mistake to me, there is a difference between trading different pairs and trading a particular entangled pair. If you are a one pair trader, targer your % daily and don't exceed. If you have several pairs you trade, then you have variance of options available to you depending on your expertise and what the market says daily. Trading is not rocket science

tippytoes

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Quote from: carter34 on July 07, 2020, 04:44:52 PM

Quote from: kesmex on June 29, 2020, 02:04:36 PM

it's natural that someone has a mistake when trading, I've also experienced it, I lost $ 100 just because I could not hold my emotions and did not determine the right position

Trading skills also include the ability to cage your emotions. This is not easy to do most times when you getting that idea to get profit you assume Grin

. It takes a very experienced trader to handle emotional challenge with trading. But your loss shouldn't make you quit trading. If you understand emotion as a challenge, you can adjust with time.

Trading is a difficult job and when they choose to stop or continue I don't think it will be a problem and also, when you lose a few percent of the money you trade but in reality you still have money that can be used or cashed. So in trading how big a mistake you made actually you can still recover it if you have good emotional control or patience to overcome these mistakes.

Of course, you can always recover what you have lost. You just need patience and good strategy. Practice makes perfect, right? The longer you are doing your own trading, the more tips and tricks that you will learn especially in crypto trading. Every alt has their own strengths and you need to study them if you want to trade these alts.

carter34

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Quote from: kesmex on June 29, 2020, 02:04:36 PM

it's natural that someone has a mistake when trading, I've also experienced it, I lost $ 100 just because I could not hold my emotions and did not determine the right position

Trading skills also include the ability to cage your emotions. This is not easy to do most times when you getting that idea to get profit you assume Grin

. It takes a very experienced trader to handle emotional challenge with trading. But your loss shouldn't make you quit trading. If you understand emotion as a challenge, you can adjust with time.

AakZaki

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Quote from: osasshem on July 06, 2020, 03:05:11 PM

A very good useful piece of work there. Truelly FOMO has really done more harm than good in the trading market today. Because of the Fear of Missing Out, one ends up Losing everything, thinking with one more risk he gets everything back. When FOMO comes, I see it to be a good time to take a rest/break. It made me loss a little capital I had, and now....
Making mistake is not wrong in trading, but making expensive mistakes in trading will cost you a lot, learning from the mistakes and making corrections will help improve the outcome.

FOMO is indeed very dangerous and will cause a lot of harm to the perpetrators of the FOMO. instead of wanting to benefit with. utilizing FOMO, instead makes a big loss by buying coins at high prices. Fatal mistakes in trading can make people lose a lot of money.

Mistakes in trading will indeed occur, but as a trader must also minimize these mistakes to reduce losses. Many tips and tricks that can be done, by doing capital management, learning technical and fundamental analysis.

Trading mistakes can be overcome to prevent other losses.

South Park

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Quote from: Zemomtum on June 28, 2020, 03:52:54 PM

There is no free meal forever anywhere, you have to learn the act of trading before venturing into it but a large percentage does otherwise. Emerging performing surgery before going to medical school, the end result will be total damage, that is what has happened to many traders

This is common sense and yet most people do this, in their desperation to earn money in the markets they try to trade immediately thinking the opportunities are going to dry up if they do not act now, the truth is that the market of cryptocurrencies is going to be here for a long time and it is going nowhere as such it is best to take our time and learn how to trade, it does not matter if this takes months or even years that will give you enough time to get more capital and be even more effective once you also have the right knowledge.

Blackrain13

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We can't avoid mistakes in doing trade instead it could be a learning process. The more mistakes we did,the more lesson we can learn,that is called learn from your own mistakes. When i start trading i always lose my investment that's why i started to learn how to avoid loses and i also found out that a trader must have a long patience.

bitgolden

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Quote from: sulendra12 on June 29, 2020, 03:13:44 PM

My main problem is over trading because I just can't myself to stop trading once I get money or even when I lost. My greed slowly killing me because of my stupidity because I would like to earn more but it's not worth it on long run.

Hey this is not gambling like you may continue just with faucet or play-money or keeping your bet amount at the least allowed amount to feed your emotions. If you will not take take any necessary action then your don't care behavior towards trading may become a serious threaten to your life itself. You should not continue your trading in the same format you share here. I know one of my colleague who traded among losses and then faced many big problems including loans and selling his inherited properties.

Quote from: Mpamaegbu on July 07, 2020, 12:22:01 AM

No matter what a trader does on the market and he's unable to control his lot size to match his trading capital then it's an untamed risk. Sooner than later that account would burn.

Money management is nothing but a tool to enable you to risk within your calculated risk levels. If you fail with that then you might need to fund your trading account afresh. Most people do fail here on money management as they do focus only on technical analysis and leaving money management as a least bothered one.

Mpamaegbu

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OP should've included Money Management (MM). No matter what a trader does on the market and he's unable to control his lot size to match his trading capital then it's an untamed risk. Sooner than later that account would burn. Traders should concentrate on the pips they make per trade and not on the cash/profit equivalent. That way they won't over lot on trades.

Idrix1

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Nice write-up you pulled up here. These are mistakes that we even fall victim of, even experts often got caught in emotions issues. Traders especially the newbies and average needs more and more of contents like this to always keep in check of avoidable mistakes and most importantly your last part nail it up, it is always profitable when when own it up and be a trader rather than a follower

osasshem

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A very good useful piece of work there. Truelly FOMO has really done more harm than good in the trading market today. Because of the Fear of Missing Out, one ends up Losing everything, thinking with one more risk he gets everything back. When FOMO comes, I see it to be a good time to take a rest/break. It made me loss a little capital I had, and now....
Making mistake is not wrong in trading, but making expensive mistakes in trading will cost you a lot, learning from the mistakes and making corrections will help improve the outcome.

Utoy101

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The points you listed out are truly among the possible reasons that often lead to trading mistakes. I think the highlight of your write-up is the laat point that said; don't be a follower, be a trader. Following ones gut is the sure way to trade with enough confidence as most of the trade will be your initiative after thorough review of the market condition

dunfida

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Quote from: tvplus006 on June 29, 2020, 03:44:11 AM

Quote from: mithun303 on June 28, 2020, 04:31:27 AM

Mistakes in trading are bad for us but yes it is not wrong not everyone make mistake, But if you can fix these mistakes in this trading market then you can be deceived again and again. people learn from mistake. But it is useless to make the mistake again and again.

I am sure that there are no traders who do not make mistakes. At the same time, at the first stage of familiarization with trading, these errors are much greater than later. For some, these errors are fatal, which leads to the loss of the Deposit and the termination of trading. Others learn a lesson that later helps them make the right decisions.

Experience is the best teacher as we do all know. Losses are inevitable things and its up a to person if he would accept such mistake and learn from it.

We cant really learn up everything on our first try and as we move forward we do gain that knowledge that we do need of to sustain this unpredictable market.

Quote from: kesmex on June 29, 2020, 02:04:36 PM

it's natural that someone has a mistake when trading, I've also experienced it, I lost $ 100 just because I could not hold my emotions and did not determine the right position

Being a noob, then its no surprise and each people would really have the same experience when they are just starting up.
Important here is that we do know on how to accept and try your best to avoid such mistake again.

sulendra12

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Me or even us have experienced all of those. My main problem is over trading because I just can't myself to stop trading once I get money or even when I lost. My greed slowly killing me because of my stupidity because I would like to earn more but it's not worth it on long run.

kesmex

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it's natural that someone has a mistake when trading, I've also experienced it, I lost $ 100 just because I could not hold my emotions and did not determine the right position

tvplus006

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Quote from: mithun303 on June 28, 2020, 04:31:27 AM

Mistakes in trading are bad for us but yes it is not wrong not everyone make mistake, But if you can fix these mistakes in this trading market then you can be deceived again and again. people learn from mistake. But it is useless to make the mistake again and again.

I am sure that there are no traders who do not make mistakes. At the same time, at the first stage of familiarization with trading, these errors are much greater than later. For some, these errors are fatal, which leads to the loss of the Deposit and the termination of trading. Others learn a lesson that later helps them make the right decisions.

Topic: Trading mistakes - page 3. (Read 1560 times)