Learning from our own mistakes make us a better person and learning from others' mistakes make us better than others.
This forum is the best place to learn from others' mistakes because many people keep posting here about how they lost their money.
Analyzing their mistakes and not to repeat it should be our goal and this simple step will make us better in many aspects and not only trading.
Topic: We're all the same! (Read 370 times)
The thing is that some people don't just learn the basics, and they might have heard from their friends that they can earn a lot of money from trading, so they just dive into it without learning first. Trading profits are not a stable source of income, as they usually vary and also depend on the amount that the person has invested. Some experienced traders are making big profits too, but they put in a huge amount and risk their investment, so if it turns out to be a loss trade, the amount is usually huge too.
Without learning they can achieve for one or two times but not always because without learning the basic things they will not be able to go according to the market which is the actual thing.
When someone tell us about investment in Bitcoin then we don't listen to the whole talk but just wants to get large amount of money in second and skip the risky part of it. When we skip one part and accept the other then this things become a cause of our failure because we have to accept both negative and positive side then work according to it and we cannot skip one of them.
Experience traders are making big profit but they did not become Experienced from the start but they initiate trading with little sum and when they realized everything then they enhanced their sum as consequence of which their profit also increased.
However, day traders also use the same idea of dollar cost averaging when entering into a particular trade, even if they may enter all within some minutes. They will enter with some percentage of their portfolio then go with another percentage and continue until they meet the hundred percent they want to trade. And when selling too, many of them sell based on the same process because of the volatility of the market.
I think what you are trying to explain in trading is called martingale with what you have said but dollar cost averaging (DCA) is a term used for those who want to hodl. Although it may take same process but they are not for same purpose. The purpose of DCA is usually for longer duration or at least to hodl to sell at a later date but martingale is at the process for sell or buy while the trade is going on in spots. So they are of different classification, one is for hodling and the other is for trading.
they are still losing because they even don't know how to put stop loss or some DCA or maybe they are buying shitcoin because they saw it to other.
If DCA (dollar cost averaging) is a trading strategy, I am not aware of it. DCA is a strategy that is mostly used by some investors while accumulating Bitcoin in their portfolio. For "stop loss and take profit," some trading platforms already have it as a feature in their platform, while for some of those platforms that don't have it, it's left for the trader to come up with their own strategy on how to handle their stop loss and take profit because it's simple. If you are an experienced trader, then you will have a certain profit you want to archive, but sometimes the market trend never gets to your predicted level before it begins to go against your prediction; in that case, you can just opt out (stop loss) and take the little profit you got.
However, day traders also use the same idea of dollar cost averaging when entering into a particular trade, even if they may enter all within some minutes. They will enter with some percentage of their portfolio then go with another percentage and continue until they meet the hundred percent they want to trade. And when selling too, many of them sell based on the same process because of the volatility of the market.
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they are still losing because they even don't know how to put stop loss or some DCA or maybe they are buying shitcoin because they saw it to other.
If DCA (dollar cost averaging) is a trading strategy, I am not aware of it. DCA is a strategy that is mostly used by some investors while accumulating Bitcoin in their portfolio. For "stop loss and take profit," some trading platforms already have it as a feature in their platform, while for some of those platforms that don't have it, it's left for the trader to come up with their own strategy on how to handle their stop loss and take profit because it's simple. If you are an experienced trader, then you will have a certain profit you want to archive, but sometimes the market trend never gets to your predicted level before it begins to go against your prediction; in that case, you can just opt out (stop loss) and take the little profit you got.
Right. There are people who ask how much I will earn per day or per month when I become an experienced trader and I have a lot of experience. Trading is not a stable income or a fixed profit. The truth is that you will have to lose a lot of money, learn through this experience, become a better trader in order to earn more later. There is no gain without loss.
I agree, over time you already understand who is worth listening to and who is not. Who can give good advice and who is terrible
The thing is that some people don't just learn the basics, and they might have heard from their friends that they can earn a lot of money from trading, so they just dive into it without learning first. Trading profits are not a stable source of income, as they usually vary and also depend on the amount that the person has invested. Some experienced traders are making big profits too, but they put in a huge amount and risk their investment, so if it turns out to be a loss trade, the amount is usually huge too.
losses are inevitable.Just like the rest been saying that we are all just the same on which when it comes to goals and targets then we do share up with the same idea. It is really just that there are people who are really that going into those shortcuts without even trying out to realize the real deal which we know that it cant really be that so simple or easy on handling out this market.
Outcomes or results would really vary on each decision you would make whether it would be positive or negative and since this market is really just that totally unpredictable, not only limited on
crypto space but also into other markets on dealing up with investment then it isnt assuring that you would be making out profits and this is what the main challenges that you would meet along the way.
Because as a human being, we share the same goal and that we also fall doing the same thing just to make it happen. While we can’t be as highly profitable as it is, but the importance here is not actually to keep in profits but to lessen or limit our losses as long as we can. So at times we become highly profitable, while at some point we are also susceptible to losses, and that’s how life as it is.
Right. There are people who ask how much I will earn per day or per month when I become an experienced trader and I have a lot of experience. Trading is not a stable income or a fixed profit. The truth is that you will have to lose a lot of money, learn through this experience, become a better trader in order to earn more later. There is no gain without loss.
I agree, over time you already understand who is worth listening to and who is not. Who can give good advice and who is terrible
The thing is that some people don't just learn the basics, and they might have heard from their friends that they can earn a lot of money from trading, so they just dive into it without learning first. Trading profits are not a stable source of income, as they usually vary and also depend on the amount that the person has invested. Some experienced traders are making big profits too, but they put in a huge amount and risk their investment, so if it turns out to be a loss trade, the amount is usually huge too.
Right. There are people who ask how much I will earn per day or per month when I become an experienced trader and I have a lot of experience. Trading is not a stable income or a fixed profit. The truth is that you will have to lose a lot of money, learn through this experience, become a better trader in order to earn more later. There is no gain without loss.
I agree, over time you already understand who is worth listening to and who is not. Who can give good advice and who is terrible
The thing is that some people don't just learn the basics, and they might have heard from their friends that they can earn a lot of money from trading, so they just dive into it without learning first. Trading profits are not a stable source of income, as they usually vary and also depend on the amount that the person has invested. Some experienced traders are making big profits too, but they put in a huge amount and risk their investment, so if it turns out to be a loss trade, the amount is usually huge too.
I know too well that in the forex trading many people lose a lot of money, even the people that are experienced and are experts in teaching, when it comes to practice, they will lose money, but I don't know about cryptocurrency trading. I believe it is similar. It is not everyone that wins and wins continuously. Just that in order to maintain their prestigious level, they would not want to show their losses rather keep displaying their profits.
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Right. There are people who ask how much I will earn per day or per month when I become an experienced trader and I have a lot of experience. Trading is not a stable income or a fixed profit. The truth is that you will have to lose a lot of money, learn through this experience, become a better trader in order to earn more later. There is no gain without loss.
I agree, over time you already understand who is worth listening to and who is not. Who can give good advice and who is terrible
The thing is that some people don't just learn the basics, and they might have heard from their friends that they can earn a lot of money from trading, so they just dive into it without learning first. Trading profits are not a stable source of income, as they usually vary and also depend on the amount that the person has invested. Some experienced traders are making big profits too, but they put in a huge amount and risk their investment, so if it turns out to be a loss trade, the amount is usually huge too.
We're not the same.
If someone is greedy in trading, investing, or otherwise, they will not be able to get the profits they want.
They would only suffer losses from time to time as long as they couldn't change their attitude and were still greedy for big gains.
Getting big profits depends on market movements and if the market is still like it is now, they will find it difficult to get the profits they seek.
So they have to overcome the problem of greed, learn a lot more, and be patient, waiting for the time to make big profits.
If someone is greedy in trading, investing, or otherwise, they will not be able to get the profits they want.
They would only suffer losses from time to time as long as they couldn't change their attitude and were still greedy for big gains.
Getting big profits depends on market movements and if the market is still like it is now, they will find it difficult to get the profits they seek.
So they have to overcome the problem of greed, learn a lot more, and be patient, waiting for the time to make big profits.
💻Why do many people always step on the same rake??? 😼
1️⃣. Greed, lack of knowledge and patience. They just want "easy money". We do not intend to wait for the "market to give". Everyone wants a lot in the moment. As a rule, they are always super poor (crazy. displays of who a person is in real life).
1️⃣. Greed, lack of knowledge and patience. They just want "easy money". We do not intend to wait for the "market to give". Everyone wants a lot in the moment. As a rule, they are always super poor (crazy. displays of who a person is in real life).
This is really what most of us do at the start. I mean, imean because of greed that is going to earn money immediately, we somewhat took the HYIP investment because we thought that was the only way we could earn, and just imagine it is really easy to double your money and you aren't thinking the opposite of it. We get blinded by greed and want just to sit on our couch and do anything. This is also the case with not learning to trade; we just want to wait for signals, which we know are really a loss in the long run.
It's like a circle, where we learn different things altogether, get misinformed, and get influenced by different things, particularly the wrong perception of others that some people allow to pass through them. Trading is not a job with a stamped agreement of a fixed monthly salary, both for those that assume to be professionals and for those that are not. That is to say, we all make mistakes in trading, learn from them, try again, and keep trying until we increase the rate of profit. That's why it's said that trading is not for everyone; if you are not really willing to experience some loss, then you can't trade.
Right. There are people who ask how much I will earn per day or per month when I become an experienced trader and I have a lot of experience. Trading is not a stable income or a fixed profit. The truth is that you will have to lose a lot of money, learn through this experience, become a better trader in order to earn more later. There is no gain without loss.
I agree, over time you already understand who is worth listening to and who is not. Who can give good advice and who is terrible
👏The list goes on, but these are the main points. Think about it. I'm sure you thought you were completely different, but absolutely everyone thinks so))))🧘
Ok, now this looks like the old days when we used to have people come to our college tell us about unsuccessful stories and sell their handbook with us about how to succeed in life, I think your post is saying the same thing, no direction just epic story without even mode of communication. The headline says we are all the same and yet you are just lamenting and beating around the bush, I don't know if this is a trading discussion or you are pissed off about a trade you lost, if that's the case, take a break and cool off.
Your feedback though, still says the same thing and in addition to your subject, we are not the same and we can never be the same. Just because you lost a position doesn't mean others did, they probably made the opposite and cashout big, we don't think the same thing even when we all have common goals of making a profit in the end, the strategic way of thinking differs from individual, let that sink man and please try refraining from creating unnecessary threads.
That’s human tendency mate. Everyone’s main motive of trading is to make decent amount of profit in shorter period of time. So yes the list you mentioned does follow this aspect of human nature. We all here to win, and greed is primary reason for everything. All traders mindset becomes same when we have to risk money and to make money from it. We can’t deny this fact, and we should accept it proudly.
Why not mate? You have to feed the family, have desires, go on a leisure trip, buy house, buy car, and have fun with your life. In a grim reality to do this you need lot of money. The things are becoming even worse as we see hiked rates of every basic needs and thus leisure remains dream of many in the world of 9 to 5 job!
This is why we work our asses off so that we can get some extra money and fulfill those dreams. Obviously it's not any sort of greed but it is sort of hope that we will end up with nice lifestyle at some point and after all those efforts we will have our sweet fruit.
If someone is trying hard, being greedy about the money making then definitely there is motivating factor. But if someone has the money, someone has made good profits and yet they are going further to make more then definitely that one is bad greed. There are differences amongst everyone, some see through it clearly and some may not.
This is why we work our asses off so that we can get some extra money and fulfill those dreams. Obviously it's not any sort of greed but it is sort of hope that we will end up with nice lifestyle at some point and after all those efforts we will have our sweet fruit.
If someone is trying hard, being greedy about the money making then definitely there is motivating factor. But if someone has the money, someone has made good profits and yet they are going further to make more then definitely that one is bad greed. There are differences amongst everyone, some see through it clearly and some may not.
2️⃣"This time will be different than yesterday" (guided by the desire of what you want, not what is happening in the market).
This is the reality of man. We are always optimistic and basing our success on luck rather than face reality. I have seen this countless times, more often in gambling. You will hear statements like this;- Today is a bad day, tomorrow will be better
- Mr. Bob won with this strategy, why won't I?
- You don't have to give up, tomorrow will be better
The list goes on, but these are the main points. Think about it. I'm sure you thought you were completely different, but absolutely everyone thinks so
That's us when we were new in the market and in cryptocurrency involvements, but as we move on, we start to learn everything, something the easy way and some the hard way but eventually, we learn everything and then we start telling others what to do and what shouldn't be done as a new user in cryptocurrency trading. That's how things work in life as well, when you are a child, you are unaware of anything and vulnerable to mistakes and stuff.As you grow up, you start to learn everything until you become mature and then you tell other children what you have experienced. The only difference is that when we are trading, we have our money on the line while in life, we just learn by our experiences without losing anything.
💻Why do many people always step on the same rake??? 😼
1️⃣. Greed, lack of knowledge and patience. They just want "easy money". We do not intend to wait for the "market to give". Everyone wants a lot in the moment. As a rule, they are always super poor (crazy. displays of who a person is in real life)
The market doesn't give, in essence the market wasn't designed to give but we're to take from it based on the established strategy we put forward given our matching knowledge and experience. If you wait for the market to give to you, you will end up waiting for eternity I guess.1️⃣. Greed, lack of knowledge and patience. They just want "easy money". We do not intend to wait for the "market to give". Everyone wants a lot in the moment. As a rule, they are always super poor (crazy. displays of who a person is in real life)
Quote
2️⃣"This time will be different than yesterday" (guided by the desire of what you want, not what is happening in the market).
3️⃣Manipulations in the accumulation/distribution zones with the help of crypto media, public opinion (those who should always lose), expert opinion - in other words, the lack of their own understanding.
4️⃣ "fortune-telling on daisies up / down" instead of a clear work plan. There is no trading strategy (that is, the basis with which the market character was going to make money).
5️⃣The use of an exchange instrument that was invented to take money 100% (it's only a matter of time when this will happen and with which "market is to blame") - futures. Violation of elementary concepts of risk management, and in some characters (mapping who is in reality) generally adequate logic of a mentally healthy person.
6️⃣ Margin (a risky instrument only in the hands of #Stupid money, but very greedy).
👏The list goes on, but these are the main points. Think about it. I'm sure you thought you were completely different, but absolutely everyone thinks so))))🧘
Our experiences with cryptocurrency are very much different, there are those that learnt from the mistake of others, some was a personal experience which could be very painful but very a few persons were so lucky to have a good start.3️⃣Manipulations in the accumulation/distribution zones with the help of crypto media, public opinion (those who should always lose), expert opinion - in other words, the lack of their own understanding.
4️⃣ "fortune-telling on daisies up / down" instead of a clear work plan. There is no trading strategy (that is, the basis with which the market character was going to make money).
5️⃣The use of an exchange instrument that was invented to take money 100% (it's only a matter of time when this will happen and with which "market is to blame") - futures. Violation of elementary concepts of risk management, and in some characters (mapping who is in reality) generally adequate logic of a mentally healthy person.
6️⃣ Margin (a risky instrument only in the hands of #Stupid money, but very greedy).
👏The list goes on, but these are the main points. Think about it. I'm sure you thought you were completely different, but absolutely everyone thinks so))))🧘
If we are able to minimize our greed and give room for patience by analytical conducting research on whatever project before investing and not in greed rush into eventual loss
I disagree with you in that aspect OP, we are not the same in that aspect because there are some traders who has the knowledge of crypto trading at the right time just to achieve his or her target in the market. I think, is only new traders who don't exercise patience in their crypto trading because they always feel the price will not increase higher more than this than to sell at the moment for them to regret when the price continue to increase in the market. I don't think, there is an easy money anywhere these days because you have to take some risks to buy coins and hold for the market price to improve higher before you can think of releasing them for sale to make a huge amount of money.
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