Topic: Trading mistakes - page 5. (Read 1560 times)

Mistakes are not new to mankind, so trading mistake is also not different, and it doesn't define who a trader is.
Your reaction and countenance after a trading mistake matters instead.

So i encourage you traders, whenever there is a trade mistake accounting to a loss, avoid blame game, accept responsibility, find out why and where it gone wrong and fix it ultimately by relearning and perfecting so such mistakes never occur again.

Remember that we learn daily.

Have you ever actually made a mistake. Like literally just write a wrong amount and so forth? I did that once years ago and ever since those days it is very scary for me as well, I have been trying to avoid it by checking it multiple times before I can actually click the trade.

I was trading something called namecoin or something, back in the day when you were mining bitcoin there was some other coin (not sure if it was namecoin or something else) that you mined together with bitcoin at the same time, and it was even worthless back in those days let alone now. I had gathered enough to make it about a dollar I think and instead of changing my namecoins to bitcoin during the trade I changed my bitcoins to namecoin. Since, there was very little market for it, it took me weeks to sell all my namecoins small by small in order to make that profit.

If you are just new in trading and you want to make a lot of knowledge not just by the reading a ton of articles, news, tips, and tricks and watch a bunch of videos I think you may have a problem for the next coming trades because you just need to have a good experience in trading at the same time is knowledge on trading not only having knowledge. Still, we have different respective on learning some of the people are having a good time to learn with the use of watching and listening only to the videos they are watching some of them are reading only and then they are now skilled on trading and some of them are making a real trade to gain experience regardless how much money they use on to make a trade.

If you are the typical person you want to trade and gained knowledge and learning in trading with the use of your experience I think you just need to have a capital or investment on this kind of method because on your first try there are a lot of possible things may happen towards to loss on your trade and by that, you learn your skills and how to avoid this kind of action which is good because you learn but still your lose money. If you are continuously doing this there are two chances you give up because you lose all of your funds or gain more money because you acquired a lot of skills.

Absolutely mate ,Trading is not always buying and buying we must understand that even how sure we are in the coins we made researches yet there comes a time that may lose and fail.
and not only experience but dedication also,imagine that the life of trader circling around only in front of computer and they will focus all time in their trading screen.

but all the effort will prosper in time.

we must be thankful because OP shared this thread for our own benefits in future as we can use this as reference for our trading journey.

Then you are speaking of gambling and not trading.

Spot trading needs skills and is not a mere play of luck. People work it out and try to match it though not every time do the indicators work out like a puzzle. Still people make money by speculating and buying low and selling at high prices. Some even go for the risky things like margin trading, Futures and Options which are the derivatives market provided by some exchanges.

Now if you are doing your homework on this and investing in those coins that are having a long term value, that is bitcoin only () Then it is no longer a gamble but a good long term investment provided that you sell at a profit.

If you try to cover all possible mistakes a trader could make then probably you may get a university approved doctorate too, because there are uncountable way/possibilities for traders to make mistakes, but still traders are finishing off their trades in profits just because of making use of their experience. Only inexperienced traders may make mistakes and over the experiences they start minimizing the mistake happening occurrence which slowly helping them to be professional traders.

In my beginning days a a forex trader, I was losing all my capital more frequently then started making use of free bonus provided by some exchanges and slowly started caring my capital from losing which helped me to prevent mistakes. When we start showing our dedications then mistakes may not happen in frequent manner.

To be honest, you are just over-sighting this fact. While I agree on the moral that we should not follow and trade based on our knowledge but this differs in the given situation. If you are a newbie, it would be better to start with referring to how others trade and then learn from them and their mistakes and gradually improvise your trades.

Obviously we should not fall far those celebrities promoting some shitcoins and over exagerated trading speculation and statements but we can learn from experienced traders on how they trade. I know a friend who is good on trading and I followed him and learnt how he trades and later I built my own strategy started trading.

All of the information that you gave are super and sooo helpful. However, I don't agree with the advice to get a bot and let it trade for you. A trading bot is simply a machine that works based on your command! Therefore, as long as you are not sure about your decision, the bot can't work efficiently.

Those types of reasons are probably what could make or break your trading career. I believe that it's not too late to make yourself on the right track when you are talking about the right attitude and characteristics that you need to master to be consistent in trading.

I will take the headings of your trading mistakes and just add little thoughts.

• Preparation: You could do something about it by learning the strategy you are going to master
• Profit Mindset: No one got rekt by trading profits
• Overtrading: Just because you are profiting on other pairs, doesn't mean it's going to be the same with all of them
• Margin Trading: Don't expose yourself to something that you know little to nothing about. Learn Leverage
• Be a trader: I think no one has gotten devastating results just because they followed someone. It's still up to the trader on what he will do with the discussion on who he is following. Be yourself and know what you are doing.

If people are starting to get tired of it or it's a repetitive thing, maybe get a bot and let it trade for you, that would be better.

So, can we include it in these mistakes?

Humans are vulnerable to this types of emotions, that is why a lot of people are addicted to gambling. I know that this might not be a mistake but a flaw humans have. Mistakes tell us that we are human, there is no such thing as a perfect individual, so yeah, saying all of this, I can say that if they can't control their emotions, they will not be that good in terms of trading and investing. Hence, it is also a mistake by us, trades, and investors.

Yes, experts are always suggesting about going for generating trading signal by their own technical analysis and also about not depending on trading signal groups. In my opinion also, it is making sense because you need be good at your skills to be independently successful traders. Only our own knowledge will be helping us all the times to avoid mistakes because just getting signals alone will not be enough as you need to make some decisions time to time and if you fail at that then you may commit mistakes to losses.

Yes, demo accounts are always helping to avoid mistakes. I believe demo account concept must be an integral part of successful trading. People who are not making use of demo accounts might be making their own mistakes to learn the real time lessons of markets. I mean demo accounts help costly mistakes with actual capital.

Thanks for giving the  reason of Trading Mistakes, Perhaps this was all based on your experienced, isn't right?
but of course, on my experienced applying over trading is one of the best thing I did, though there's a lot of
loses I've encountered but as time goes by I learned from my mistakes and now so far so good that earned most often
by doing it in the market.

You maybe right about the user to loose his investment because he was greedy but aside that futures trading is different to other form of trading in the market and highly risky either because traders are required to make future price predictions, despite the volatility in nature of crypto market.

Agree! Some people are so naive to believe in TAs and trading signal groups! "There ain't no such thing as a free lunch"! It's always the best to equip yourself with a certain knowledge base! The very first thing you should invest in is the time to learn, to explore, to understand the knowledge as well as the trading techniques, trading skills, and analyzing skills.

If you're going to be trading on Expert option, IqOption and other similar platforms, then you don't really have to put in money to be able to have the experience and learn how to trade. Majority of them now have a demo account that shows a real time trading chart that you can use to practice how to trade with a $10,000 fake dollars in the demo account that you can use.

So, you can use the demo account and learn everything you need to learn before you start funding your account and trading for real. Even without that, I think investing and trading with real money while you have no understanding of how trading works is really not a thing to do.

Every trader should be prepared when they do it in an actual transaction so that they will not be stressed and panicked about the certain situation. Most of the traders are losing their money because of the wrong strategy that they are using, no one is exempted when it comes to risk, people are all vulnerable about risks.

Risk management should be practice and apply so that whenever you trade, you can minimize your losses and you know how to cope up based on the situation. Being flexible and learning to adjust is essential to become an effective trader as you grow and understand things in trading.


Over trading is really too much and can increase your risk of losing than earning profits. In trading, there should be a limitation about the money that you are going to use and limit yourself. Patience and self-discipline is required for you to handle your emotion to know when to stop trading.

definitely, having TA knowledge is an advantage when you are in trading. though most TAs are not applicable in most altcoins, yet you have the advantage of understanding what might be happening in the market, generally speaking. also most trading bots or trading signal groups dont work in favour of the trader but rather who owns that particular group or bot.
it is right, it is better to learn the basics and know the ins and outs in crypto instead of relying those auto features. you will find out sooner or later, that your effort will paid off by better returns rather than relying on signals (you can compare if you have prior experience using those autobots/signals)

based on what he said i can sense that he got greedy and resulted for him to continue trading with higher amounts and he forgot to withdrew as early as possible before so he looses all his gains . it his mistake if i were to ask . its not the fault of trading because trading isnt the one that decide or make a move .  trading can be a high risk or low risk depending your moves or depending on your placed amounts . 500 usd is a slight high amount but its not the end of the world, money is nothing . we can earn it again but lets no try to comit same greed manner

You choose to trade and probably you are willing to lose either. But there is one thing you have forgotten is how to learn trading in the first place.
Overly trading is not a good practice. You could think that we trade big amounts will eventually give us more profit in a short period of time? Not really and the risk you have face is very high and surely it is higher since you don't know much about trading. You are desperate enough to gain profit quickly and that is why you end up losing.  We should have to be patient.

Wanting to make more profit was not totally your mistake but the high risk involved in the form of trading you choose and the same thing apply to margin trading and i will advise you to desist from such trading while you understand verywell the basic form of trading.