Topic: We're all the same! (Read 436 times)

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.

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.

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.

Dollar cost averaging is a method of investment that is being used by investors and it is not a new thing. It has been in the investment industry for long even before the discovery of cryptocurrency. Many wealthy investors have advised that the best means to accumulate wealth is by dollar cost averaging.

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.

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.

Regrets do always come at the end on which it is really just that normal that we would really be experiencing losses since there's no such thing about being perfect investor or perfect trader on which
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.

Yes for some people they always skip the basics, they need to learn it first before trading. That is the common reason why most people quit trading these days, they thought that it is to earn in crypto some say they will follow some signals in telegram or Twitter but the end 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.

We believe that new traders always run our losses  while old and experienced traders are always on profit, but in the real sense things are not actually like that. There are some old and experienced traders who have not found a way to win continuously.

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.

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.

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.

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

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 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

Most times, this optimism blind us to the reality of life and in the end, the story is not always nice.

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.

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.

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.

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.

Among the rest, this is the thing I am more convinced about and can relate to sometimes.
Some people are also lured by the internet, people who keep promoting something but we can't blame them, especially if they are just sharing their thoughts or speculation.
It must be a lesson for us not to fully rely on without confirming or doing research.

I agree on your point but let’s also consider that every human being has its unique characteristics. But we share the same goal at the end of the day. Although losses are still inevitable no matter how we’re good at combatting with it, but if we learn to fight without quitting and regretting, perhaps all of us will still end up being successful. Same like trading, it does not matter how much and how often you lose, as long as you tend to correct your mistakes everytime by not repeating the same mistakes again.

If we know how to deal with our greed and manage the risk at the same time, we will be able to hit the profit that we want but we shouldn't be overconfident all the time as the volatility of the market is mostly hard to deal with so we have to be careful with our actions and decisions.
If we are struggling controlling our greed, we better set a certain amount for trading and as much as possible, discipline ourselves so we won't take wrong trading moves. If we're having a losing streak in trading, we better check our mistakes and see what we have done wrong so we can analyze how to correct it the next trading activity. Also, we shouldn't stop learning and try applying specific strategies that will help us earn better.

It's true, the crypto media is doing stuff just because they want to do it, and that's not really acceptable at all, we should be a lot more careful with what we are doing. I think it should be reminded that if we are going to end up with any news, then we need to be able to confirm it from multiple sources, and directly from the source of that news as well, we need to be able to check it ourselves and see it.

Otherwise it is "reported that this and this happened" and then you check and that did not happen and the news was a lie. The worst case is that they defend themselves as saying "we said it was reported, it was reported wrong to us as well" about making a false news as well. So, it should be important to keep checking the main source.

Sure, people have greed. But, the way people manage and minimize the risk of greed taking over their decision is different for each trader. Some people would need to completely limit their trading so they wouldn't get too overconfident and only need to trade what they are capable of in the first place, but for some people that they can control the greed then it would make a greed as their motivation to gain more but of course with limitation as well. Once you have set your limit, then I think you are already in a good spot.

Most of people human's nature are basically the same but each person has different trait that makes it unique to handle some circumstances.

I think that everyone can be consider as same in some habits because they are same and are present in everyone like that of desires for more. Actually one does not become happy and satisfied with the present reward but wants to multiply it.

There is not any business which will give you money easily without any efforts and people should learn that in which business there are risks so in that business income is also immense. Accept the risk, learn what is essential and just accept your profit because desires appears more and more which can be harm for you.

Well not for long for most people. Although in the long-term, people would still want to get the easiest way to earn money so they would just step in to the same rake. Insert "Jumping on a rake" meme here.

In regards of crypto media, I usually take those with a grain of salt. It's not something you would solely rely on deciding to sell your coins. I can remember those days....those FUD days that I was trading in EtherDelta and Binance and was like highly attached to these news headlines, it all turned out to be just an attempted FUD. What a bummer.

That's the simplest way I can tell him to describe where the difference is between people who do market activity and in everything.

The main goal may be the same, namely to expect profit for the trader and a large return for those who make the investment, but the way of doing it can lead to differences. The difference as we have mentioned. There are those who are greedy by putting in all the money (initial capital + profit) for the next trade without thinking about the opportunities that will occur in front of them so that the result is losing everything.
In real life it may be similar to in the trading world. They choose ways that go against the rules to achieve the ultimate goal.

You have good points on this and number two points is very true. We seem to want the market to do what we want and not what the market is exactly doing and most times we jump in as we expect the market to start reacting the way we want. This is a common phenomenon with newbies because of being eager for profit. Being in a haste is the greatest undoing of traders, if you jump in early at the time the market is not in the direction of your order then the only thing that will happen is you get burnt. If you put your hands in a furnace, you won't be spared because the fire is only doing its own business of burning and that is exactly how it happens with entering wrongly. Every trading day is different though and we have to follow what is happening in the market not what we want to happen in expectation.

Yes, unfortunately, you have to endure for a long time before you start earning))

A little bit off topic but i do have same views about that reputation tag which it is really that unlikely for a complete newbie to do so since they wont really be that having that full knowledge about on how this
forum works or the things involved around but it seems that he is really that getting used to it or that familiar on how things been doing.So i do presume or assume out that he might be having other
main account on this forum.

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Speaking with those points above on which it is really that true that it is really that redundant, we've seen tons of similar post about advises and other stuffs in correlation with trading and investment.
We've been flooded out by lots of advises and those common points which a person should really be following but in overall it is really that something that cant be done by someone so easily
or able to follow it out.

First of all, Op is a newbie and OP has a decent reputation tag to justify how we're all the same! I'm not sure if is there anyone who has the reputation as Op currently owns on just a few posts. The future seems to be Shining, Not tuning and offending but explaining the current status.

So now moving on to the points Op mentioned here in this post sounds to be redundant but I won't judge because I can see a new approach in the points at least its not as same as always. The disturbed accumulation and distribution zones are quite interesting because if a small investor is not getting anything then a major investor on the same time cant manipulate it easily because currently the hodl-ers status is very strong and they wont give up either.

We all know that the common use of an exchange is to convert the cryptocurrency into fiat. But since we are in the modern world, exchanges are continue to develop where we can see a lot of new features in it. That's why instead of just converting, people were use to stay on the exchanges because they are still using their other features. That's why we have to vigilant and aware of this, because sometimes we are losing money in exchanges. Not only that, the biggest fear is that when you are using Cex and you used to put all your money in to exchange for awhile to convert but unfortunately the exchange was shutdown, you can't recover all your funds at not until they do a refund. However, people have similarities but they are not totally the same.

Sustain yourself and able to get back up on the time that you do fall which its true that all of us would inevitably be able to experience those worst things, no matter how many times you would
be reading up other peoples experience and errors on which it is really that something that you would be able to experience it too.The only difference for those people who are fully aware with those
other mistakes is that you've been wary about on the potential movement that you might do on a specific condition or situation which i could say that it is really that a good headstart.
Mistakes and errors are the best teachers on which it would really be honing up your skills and we know that on dealing with this unpredictable space would really be requiring that kind of
having that lots of possible methods and ways which you could be able to eventually apply on with every trading or positioning that you are tending to make.

Upon discovering the extent of effort invested in each bull market, along with research into market trends and people's financial psychology, it becomes evident that human behavior remains consistent. Those who fail to control their emotions concerning money are prone to encountering repeated losses in any market. The most effective approach involves determining a suitable point to liquidate a significant portion of your holdings, establishing a rational price for this action, and adhering to the plan.

True. No matter how we think of ourselves differently, it all comes into a conclusion that we all do the same things because we shared the same goals and targets in life. And that is not to fall from the traps of losing. And if ever we fall, we always make sure to get up again because that’s probably life should be. No quitter becomes a winner. And winner never quits. While losing is inevitable, but know that there’s always hope to change what you have been going through.

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.

Are you that sure?
Will every trader who uses charts be successful?
In fact, every trader has the same risk when trading.
Those who use charts may know what is happening in the market, but it will not be 100% successful.

There will definitely be some losses incurred, even though they have good technical analysis knowledge.
This is all related to mental trading issues and how to use the right strategy.

There is no guarantee that someone who has technical analysis knowledge can always succeed, there will be some obstacles such as trading psychology which includes mental health such as greed, fear, panic, and others.

Good article. Agree with a lot from here.
I always say that one of the main reasons for losing money is greed. Even when the desired result has already been obtained, it seems that it can be done better. Therefore, it is better to always place the upper and lower points, upon reaching which to exit the transaction.
Another big common reason is the fact that it happened to someone and we think that it will happen to us, but the situation is already different and the deal is different and time has passed and everything is flying down
"This time will be different than yesterday" - You can write a separate book on this topic. A painful and very relevant topic

It's a wrong conclusion in every sense, whether it's about investing, trading, everyday things in life or just promises we made to others. For example, you stand out from others because you don't keep your word and your reputation is obviously worth $50 or maybe not even that much.

On the other hand, most members of this forum do not allow themselves such things, so we are not all the same, fortunately.

Whatever we have experienced that is not good in the world of trading business, let's make it a way for us to learn from the mistakes we made, we should not repeat them so that the capital we release for this will not be wasted.

That's why we shouldn't have a wild attitude when we experience a good income here, to avoid the profit that hopefully will be lost in the end. Even a small profit is good and at least there is a source that is obtained every day.

The method of people investment are differs from other people investment, but all are the same, come to talk of your views, trading have different strategies and it maybe that the strategies I'm using the one you are using is not same, but other people will think we are using same method, buying and selling of cryptocurrency, someone to be successful in such kind of investment, I believe that we have to acquire the knowledge, while some people lose in trading is because they don't know when to buy and when to sell, and any trader who uses chart will be a successful one.

Well that's right, everyone, especially us as traders, has a different path in achieving success in this field. And also in my opinion the personality of people is very influential in this field, as we know that trading is very involved psychologically and also mentally self, so in my opinion for those who have a personality easily fooled or provoked in terms of meosi then it is very likely they will experience many losses in trading. As an example, for example they experience a loss and when it is very likely they will feel emotional and then return to open the same position and eventually lose again. So in my experience and some of my friends, most people will get stuck there when their psychology is disturbed, they will find it difficult to predict the direction of prices and in the end they open long positions in a bearish and strong down market, of course they will experience losses. In addition to the difference, there are also those of us who do it with some analysis, for example some trade with technical analysis and some use fundamentals, in my opinion this is quite a lot of differences.

The desire to reach our goals may be the same, but the ways to achieve our goals may be different.
Many people involve themselves in trading or investing. Some are greedy and rush and neglect important things in doing so. There are those who carry out trades or investments in a patterned manner by putting forward methods and strategies patiently waiting for predetermined targets and continuing to study so they can analyze when the best time is to buy and sell for profit.
Basically that's what makes people different/not the same.

Even though you say we are the same, we are different, and not everyone is greedy in wanting profits. Some people could be wary of trying to make a profit. Only people trying to stay sane can reap those benefits without any desire to get greedy and want more money.

People can get greedy easily, but some people can still hold back their greed so as not to harm themselves. And it depends on how strong you can hold that greed so it doesn't grow big.

If you can, that's great. If you can't, that's a problem for you so you will follow what other people have done. The choice is yours

If someone did not fail in life, the person may not appreciate his success. Because you fail ones does not mean you are a loser. Because of failure, some people will not have become successful.

In trading, experience matters. Not just the knowledge. But it is important to trade with just the amount of money that you can afford to lose.

Margin can be of help if you use it wisely and professionally. But some people just prefer the other way and go 10x more up to 200x.

We are not necessarily all the same, remember the saying that "as our faces are different, so is our desires", so going by that phrase, human being are not actually the same , though due to human nature, it sometimes seems like we all are doing things alike, most especially when it comes to the pursuit for money , it is naturally in human's nature to be greedy, and never be contented, that is, no matter how much one has or has made in profit, he or she some how will always want more, and people will look and use  every means available to them, as long as there is an opportunity to make money,
So yeah, people will always be greedy, and some will never learn until they experience something bad themselves, which is why people often say that "experience is the best teacher", in terms of trading, the greedy and non-greedy will sometimes lose money, the most important thing is the aftermath reaction, how we react, as long as we understand and move on like nothing happened, that's alright.

That's simply because of human nature. Now our only goal is to not fall into the same pits that people in the past have fallen onto.

Though unfortunately for the most of us, experience is the best teacher. That's not necessarily bad though; as long as you jump back up and try again.

💻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).

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))))🧘