What are common mistakes and problems of the traders?

Rodeo02

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Quote from: Muwatti on May 05, 2018, 08:28:37 PM

Hello traders!

I am new here in this forum I don't have more knowledge about tradings, but I think maybe someday if I will given a chance to do trading I think I should try it. So I always read articles about tradings and also I read threads here in our forum about trading discussion. However I would like to ask all traders here that have more experiences about trading if what was the common problems that encountered of an ordinary traders? And what was the common mistakes had you ever experienced and how could you manage this problem and mistakes?

Can you share your thoughts and experiences about tradings.

Thank you in advance.

One of the common mistakes of the traders or the common problem of the traders is they are lack of knowledge in trading because they all they want is just to earn money and when they failed they will complain on what the system or the trading platform doing. They dont know that this is all because of them who are not capable of being a good trader.

I agree with that. Most of the newbie in trading are already expecting to make a lot of money once they jumped into the cryptocurrency market. They all think that it is so easy to trade cryptocurrency because it is volatile but at the end of the day, they got disappointed because the opposite happens. It is best for any people who are getting started to learn the basics first because that is how you become the master of anything, once you master the basics, you master the game.

And they think they can easily be rich if they invest in crypto like what happen to others , if some one earn big amount in crypto it doesnt mean this things will also apply to you we are different situation and time.

Murat

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Following my observations, There are some basic things which mislead the traders to make mistakes and it will cost a huge by trading, At first, I think it would be the impatience of trading, people who trade in cryptocurrency, who needs to be patient guy, it's one of the common scenarios in trading market nowadays, some people want to make profit within a shortcut way, but it's not like this actually, trading is a matter of patience and keep calm. The second thing could be the reason for panic sell, I know a lot of people who did this during the price fall, they became perplexed and they lost a thing by selling their bucks with panic, and finally, the lack of proper prediction is the main reason people are losing in trading, though it's not an easy task to predict anything about cryptocurrency platform.

ILScoin

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I do trade often and I can say that the common mistakes I made when I first started trading was FOMO, this has made me to buy high almost everytime I wanna buy a coin then and panicked in selling low

Also, I do copy lots of signal channel calls, majority of those calls are mere predictions, there will be lots of signal calls and you won't know which one to go for

jazmuzika217

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I think the common mistake of more traders is knowledge. They don't have enough knowledge about trading amd the right coin to trade so they are not perform well in trading activity that drive them to the road of loss. And another factor is fear and doubt. They are afraid if they going to be become successful in trading so at the end they only waste their time and capital because their fear affect their decision.

jamesndungu1

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The most common mistake that rookies in trading make is failing to carry out extensive research on the market. You do not need to continue trading in an exchange if you are always losing. It’s also important to have a stop loss for every single trade you carry out. Work on your risk management strategy and avoid at all costs risking more than you can afford to lose. It’s important to also have an exit strategy because regardless of your strategy things go wrong.

bitcoinst

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Impatience and ignorance are two of the biggest mistakes young traders make. Often young traders break into battle right after watching several training videos, such behavior is hasty and will bring quite a few losses.
Also, entering into transactions, the guys do not always understand what will happen next, what will happen if everything goes wrong. Strategy and following a strategy is a significant factor in trading.

kidoseagle0312

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Quote from: Muwatti on May 05, 2018, 08:28:37 PM

Hello traders!

I am new here in this forum I don't have more knowledge about tradings, but I think maybe someday if I will given a chance to do trading I think I should try it. So I always read articles about tradings and also I read threads here in our forum about trading discussion. However I would like to ask all traders here that have more experiences about trading if what was the common problems that encountered of an ordinary traders? And what was the common mistakes had you ever experienced and how could you manage this problem and mistakes?

Can you share your thoughts and experiences about tradings.

Thank you in advance.

The most common problem for a trader is short-temperedness, often anxious when the market price is falling, and often leads to a wave of emotions that cause investment volatility, which should not be the case with a trader. So a trader should be well-versed in trading matters, just basic enough to earn a good income here.

hahay

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Mistakes that often occur at least are about patience, because in trading emotions easily increase when the situation can no longer be controlled and at that time panic will definitely occur which of course will make a loss in trading. So to anticipate this problem is about experience and also good confidence, if you can control it all then chances are you have a good chance to maintain a healthy trade every time.

Greed Dev

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There are many mistakes of a trader, in my opinion and my knowledge is that trading knowledge if you do not have a solid knowledge in trading, it is likely that you will lose a lot of money afterwards. The next mistake is to be impatient when buying and selling often let the emotions take control, they want to profit quickly so they panic when the market goes down, in addition you also need to have an investment plan and stick to it for your investment to be convenient. I hope my above share will help you achieve a lot of success in trading.

coin_1122

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Quote from: jakoylantern on September 25, 2019, 12:14:56 AM

Quote from: Darklinkz on September 24, 2019, 02:10:41 AM

First and the most common is that they will not do their due diligence or do they own research. Because that is also how I hustle when I was new to trading and every altcoin projects reach their moon so I thought to myself that since it can happen to any coin then I will just listen to the most people who shilled the same coins and will buy it. Not gonna lie that it worked but everything now has changed. You need research and please do not put your money on projects that has only beautiful whitepaper.

Yes, I agree with what you said one of the common mistakes and problems of traders/investors is lack of own research. The other common mistake is emotional problems ( rushing to buy and sell without a complete analysis ), risking plenty of money ( we know that in trading you should prepare to the part that you will lose your money and you should spend only the money that you can afford to lose) and also don't assume that you will profit easily especially in crypto trading.

Most of the people who are in trading will always aim for high returns without any research on what they are investing. In the beginning, I used to think in the same way, but after somehow I realized to do some research on what I am investing. Without a specific idea about the project, it is impossible to make a profit in the crypto market.

jakoylantern

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Quote from: Darklinkz on September 24, 2019, 02:10:41 AM

First and the most common is that they will not do their due diligence or do they own research. Because that is also how I hustle when I was new to trading and every altcoin projects reach their moon so I thought to myself that since it can happen to any coin then I will just listen to the most people who shilled the same coins and will buy it. Not gonna lie that it worked but everything now has changed. You need research and please do not put your money on projects that has only beautiful whitepaper.

Yes, I agree with what you said one of the common mistakes and problems of traders/investors is lack of own research. The other common mistake is emotional problems ( rushing to buy and sell without a complete analysis ), risking plenty of money ( we know that in trading you should prepare to the part that you will lose your money and you should spend only the money that you can afford to lose) and also don't assume that you will profit easily especially in crypto trading.

Darklinkz

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First and the most common is that they will not do their due diligence or do they own research. Because that is also how I hustle when I was new to trading and every altcoin projects reach their moon so I thought to myself that since it can happen to any coin then I will just listen to the most people who shilled the same coins and will buy it. Not gonna lie that it worked but everything now has changed. You need research and please do not put your money on projects that has only beautiful whitepaper.

atjiat

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My friends advise me not to use trading bots, because they can only correctly conduct the first few transactions, and then you just lose money. It seems to me that it is better to conduct an analysis of the market and those coins that you have chosen to trade yourself.

giltc148

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Though I already have some experience in trading, I keep on making mistakes. They can be of different kinds, but IMHO the most common mistakes are caused by using weak strategy. When I entered the cryptocurrency market, I understood the basics but didn't pay enough attention to research. Honestly, I still do not divide enough time to research, but I found a way out in using info bots. From the beginning that was bot from CoinMarketCap. Later when I switched to CEX (before it I used Coinbase), I found out that the company had launched a convenient bot, https://t.me/CexIoInfoBot, and decided to try it. Well, partially it makes research for me, so I am glad to use it.

Freddy11

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The most common mistake is not giving importance to strategies and right management. In particular, if someone is just starting up, he/she is just not interested in learning or getting proper idea of the industry. The first and very obvious route is getting proper Crypto Knowledge, it is only then that we would be able to lead our self towards success and able to achieve something worthy. It’s just not doable in any other scenario at all.

Yelobe

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I think first mistake is for newbie they don't research about trade they think when price down they sell coin but that's not good for trader

awik p

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Quote from: jamesndungu1 on September 11, 2019, 12:14:31 PM

One of the major common mistake newbies make is not doing enough research on the coin they are investing in and this usually leads to another mistake of pouring all of your funds in a coin that you barely understand. Lack of a trading strategy is also rampant. These are mistakes that anyone can make, no one really is perfect in digital trading.

Not doing a lot of research in trading can cause losing money also because a trader who have enough information got a coin who does not potential which means it will never up the value even it wait for longtime. There are many mistakes that the trader do now that can cause for them failed but sometimed they use it mistake to go up again and become successful to the trading.

not doing research, I think it's the same as gambling. we just feel that the coin will rise. at least make technical analysis, if we don't examine fundamental analysis. with technical analysis I think it is enough to make a profit, as long as we can discipline ourselves

Julien_Olynpic

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One of the most common mistakes made by traders is the search for a universal method for making money. Traders want to find one scheme for making money and that it always works and brings constant income. Unfortunately, the market is much more difficult for us. We need to be flexible and change our tactics often.

PuertoLibre

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Quote from: jamesndungu1 on September 11, 2019, 12:14:31 PM

One of the major common mistake newbies make is not doing enough research on the coin they are investing in and this usually leads to another mistake of pouring all of your funds in a coin that you barely understand. Lack of a trading strategy is also rampant. These are mistakes that anyone can make, no one really is perfect in digital trading.

Only 7% of the traders stay in this business after 5 years and 80% of the financial market traders quit trading with 2 years. The top traders are the winners and the other's trades is the liquidity for the winners. The point here is to not become a liquidity provider while hunting in the accumulation areas of the charts for liquidity.
The worst mistakes have the costs but the learned lesson worth to make the mistake. Repeating the same mistakes will be a senseless and trader must work with the charts every single day for improving the trading skills.

jamesndungu1

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One of the major common mistake newbies make is not doing enough research on the coin they are investing in and this usually leads to another mistake of pouring all of your funds in a coin that you barely understand. Lack of a trading strategy is also rampant. These are mistakes that anyone can make, no one really is perfect in digital trading.

Topic: What are common mistakes and problems of the traders? (Read 6988 times)