Topic: What are common mistakes and problems of the traders? - page 17. (Read 6967 times)

Basic trading rules includes the idea of selling at high value and buying at lower or dump price in the market. The opportunity should be grabbed while the price was still at lower stage and if it starts to pump you should invest bigger amount of altcoins, if based on your analysis it has a huge potential to reach much more higher value.

In my own experience, my first common mistakes and problems as a newbie in the Cryto Trading world is that I didn't have that patience at first when dealing with the Market price of Bitcoin and other Altcoins, but what I usually hate is when there is that market price change and I'm trying to earn profit for the day (I do day-trading) and then I made my Technical Analysis but end up with no profit because my Technical Analysis is not accurate. That really sucks, man. So my advice to my fellow traders is to never stop learning something new in the cryto world, Youtube and Google is always there. Thank you!

There are many mistakes that traders, especially the beginners make. They are:
- Impatience;
- Panic selling;
- Choosing the wrong cryptos;
- Investing only in 1 altcoin.

Emotions, Emotions, emotions. It all boils down to emotions.  It's like a poker game. You lose when you are controlled by it.
Pride is also one that pertains to not following the trading plan.

This is why trading can be so difficult, there is nothing wrong with cutting your losses but another very basic mistake that traders make is to cut their losses too soon, this has happened many times, one very common scenario is that bitcoin is going down and then people sell their coins and suddenly out of nowhere bitcoin grows unexpectedly and instead of getting profits people miss those possible profits.

For traders, they should maintain some basic rules of trading. Most of the trader who are not expert on trading, they want to huge profit at a time. It is the common mistake for traders in my own opinion.

I think he meant the fear of making a mistake in his assumptions. If you just look at the street and think about where the price will rise or fall, then this fear is unfamiliar to you. But when you invest your money and trade them, FEAR appears! You assume that the price will rise and buy a coin, at this moment you are afraid. You think that it will continue to grow. And if at that moment the price starts to decline, then fear will completely win.
The main thing in this is that fear can be controlled. You need to learn more about trading, constantly trading (in the beginning for small amounts that are not so terrible to lose), and this will help you overcome fear. Never play with all deposit. Divide it into several parts (for example, 10-20, depending on the amount of the deposit) and buy different coins. If one of the coins begins to fall strongly, you will have the opportunity to recoup another. In our days, on the Internet you can find a lot of information on how to trade crypto. Read, watch and practice. Good luck!

Here's a link to the topic. Here the person tells about his 5 year experience of crypto trading.
https://bitcointalksearch.org/topic/most-important-way-to-learn-profitable-trading-3879414

I think the most common mistake is "Panic Selling". I say that because I have read and seen many threads regarding people who did not actually brave it out to see through their investments. I mean, in this market, it has been a common knowledge amongst its members that most investments are classified as long term investments because this market is just so prone to stagnation before one coin would actually recuperate and surge in value.

Selling in during bad times or selling would be always a mistake. You ,as a trader, will always aim for anything higher. Even though you sold something at high price, you would end up regretting it in another day  . Regrets come in after that, but is there anything you can do to get it back after you already sold it? Maybe all of us always make that mistake. We are somehow blinded yet on the real price of coins like Bitcoin. We just listen to speculation and make our own evaluation from it. Those speculation gives us two options: Flow along with it or just simply act like you really own the coin. The essence of holding or hodling as a meme, is not easy as just holding as it is. It does not just imply that you're keeping it in your own wallet no matter what kind wallet it is. Learn these guidelines I had done from my past experience.

-If you sold, you already made a mistake. As I had said earlier, you still don't know the price yet. I think all or just majority of us are guilty with that. I had lost the opportunity to sell by 30%. It is not a greed, mate. It is plainly instincts, but a mistaken instinct.

-Holding. Behind those words, there is a word buy.

- Sprinkle. Your coin is not for only one coin. Your coin is worth more than a million in a crypto coin out there. Check out TA if you know that it is gonna be worth it for the sequential week. Don't burst invest, allocate some for other coins. You never want that red arrow in TA hitting your heart.

-Do you listen to the news more often? How was the day listening to news with your morning coffee? Does the news tell something about Bitcoin? Positive? Negative? Turn that TV off. You never want to hear anything from it. Go to your computer. Check the market. That is where you gonna listen, mate.

I always say that trading is not for those who are emotionally unstable. You need guts and great control over nerves in order to act wisely under stressful conditions than making emotional wrong and foolish decisions. Sometimes you really feel that your boat is about to sink but one last paddle saves it. For this last paddle, you need to have courage and good control over mind and heart. Staying calm solves half problem.

Panic selling when the price keep moving down is the common mistake that new traders often do. Stay cool with the plan will need patient and it for sure hard to achieve.

The common mistakes and problems of the traders are trading with emotions, lack of experience and stategies, panic buying, panic selling, afraid of trying other platforms, and afraid to be scammed.

When I started trading my mistake was fear of price leaving me. So I entered the market when I saw it spiked then finally guess what? the market turned against me. We call it FOMO (fear of missing out) and most of us I believe experienced it too. It is a common mistake of beginners in trading anyway.

 Trading based on their emotions condition is a major reason why some person traders will  fail consistently, because some of them maybe used to believe for something,,and sometimes ,using from this word, hope,based on wishful thinking or feeling are common result to continue the trading path despite, the right direction of the market will not know the major flow in the market,aside from that , some of them are not fully understand the essence and different between the long term trading and the short term trading perspective.

Mainly the trader make mistake they dont wait to get idle price either buying and selling.They invest all amount at one place mean in one coin which is risky,While investment in different coin will allow if one side you losing another side will recover the losses.So must avoid these little hacks but having worth in trading.

 Well,,making mistake is not totally bad,because its part of this process for you to learned,but when we say mistake, will repeat commonly it result to bad influence and unprofitable ways, due to maybe because your trade is  under your emotional aspect,like greedy motivation, and habits are formed,maybe if you eliminate the bad behavior strategy generally your trading path will  be the better,aside from that some problem of traders will not treating trading like a business.

Here's a thread that contains a different kinds of characteristics of a trader that can make someone ending in loss, https://bitcointalksearch.org/topic/characteristic-of-trader-2842850 you can check it out to be able to know what are this characteristics. Hope it helps with your trading journey.

One of the reasons why some people cannot withstand active trading and just decide to hold their coins until they are in profit is because of the uncontrollable emotion when trading. I believe that it happens to majority of traders when they are just starting because you concentrate more in having profits than following your plan so at the end of the day, you are either at a loss or sold too early. Unfortunately, some of those traders who weren't able to get back to their feet after having an emotional trading would just decide to leave the market totally. You can only learn to control your emotions when you often trade and a trading plan to follow for consistency.

Trading is not at all an easy thing to do and that is the only reason because of which so many traders are suffering this much loss and that most of the traders also plan to quit doing trading as well. Loss of control over the emotions and the panic selling along with lack of sufficient knowledge about the things are the few things which result in loss of the money and results in disappointment of the traders.

The fact is that every trader should know the products he faces. If you are trading a coin, you need to study what it is capable of and what its potential is in the future. And when the market goes down, then this chance should be used for good, not panic. It's not always possible to buy cheap coins .