Topic: What is the most important lesson you have learned in trading. - page 2. (Read 1153 times)
i have very little idea of trading am i must say that i have followed this pattern for long and i must say it is amazing. it works for me but i am still batting with the issue of FOMO. I fall victim for several times. buying in the bull market. A wrong step that i have failed to correct several time.
I learnt only one thing that is do not delay the decision because if it was not good also when they were taking it very quickly it will not affect the trading but if we think and think only it will affecting our trading journey that's way to not delay and makes the decision very quickly it will not affect anything
In my opinion, for a beginner, there is not the most important lesson worth paying attention to, since for a person who is just starting to learn trade, studying the whole subject is the most important lesson. A trader who already has experience may encounter a situation that will affect his future actions and this may become his really new and good lesson.
Making mistakes in the crypto trading can be the best lesson to be learnt if the person who to take something out of the previous mistakes and do the next trade with better caution then the trader could be one of the most successful person. Depends on what kind of career ahead of the person doing trading decide what lessons need to be learnt if they are going to be trade in very long term then they need to pick the right kind and hold on to it not much of lessons needed. 
I have learned not to hold any coin for too long because it can turn worthless or a dump. Sekk off once you have the urge or need to. Crypto is an unpredictable business and I have got myself some losses trying to keep some coins that later became a scam.
In my opinion, for a beginner, there is not the most important lesson worth paying attention to, since for a person who is just starting to learn trade, studying the whole subject is the most important lesson. A trader who already has experience may encounter a situation that will affect his future actions and this may become his really new and good lesson.
What I got from crypto trading is about controlling my emotion when I see the price is up and down and not reach my target buy or sell, and that will make me confuse. But then, I learn more that I need to be patient for a while, don't attract to the current situations, always think and make the other way to solve the problem. I still learn until now because I don't think that there is a time for me to stop learning because I still want to improve myself to face the situations.
Lesson learnt is loosing my funds without securing my account with 2fa.
For me, the lesson I learned is that when people fomo too much about a project, run and don't invest with them.
I was wronged twice this time despite those projects at the bull run period.
Therefore, my experience is to do the opposite of the majority.
I was wronged twice this time despite those projects at the bull run period.
Therefore, my experience is to do the opposite of the majority.
If you joined in any ICO or IEO, once you get the payment (it should be the token) don't forget to sell it once their price reached $1, because nowadays it's very difficult for new token reached that price, so don't wait too long
I can't say that there are only a few because, to be honest, even though I am not still at that point, I knew things that I think I will never be able to learn if I did not encounter cryptocurrencies.
I guess the most important lesson I learned is to not be always looking at the part where I should earn. The reason we are investing or trading is because we want to earn, right? But this is cryptocurrencies and the risk is high so, I don't usually look at earning since I never know what will be the result of that trade, all I know is that I should do what I should do so if that trade of investment did well, I will earn, if not, at least I did not expect it will and I can continue trading and investing again and not lingering on that mistake that in my part, usually affects my next trades and investments.
I guess the most important lesson I learned is to not be always looking at the part where I should earn. The reason we are investing or trading is because we want to earn, right? But this is cryptocurrencies and the risk is high so, I don't usually look at earning since I never know what will be the result of that trade, all I know is that I should do what I should do so if that trade of investment did well, I will earn, if not, at least I did not expect it will and I can continue trading and investing again and not lingering on that mistake that in my part, usually affects my next trades and investments.
To answer this straight forward, the most important lesson in trading is that, Don't Rush
I'm saying that because if you are rushing too much and you are putting much money at risk, it's not going to end well. Yes, of course, you had some couple of wins where you have traded well and gained high percentages. In life, there's no fairytale. You could really end up losing more than you hoped for. That's what happened to me and some of it is regret. I regret being greedy, I didn't stick to my rule of thumb when trading, being impatient with what's happening, etc.
I don't want to experience losses that I couldn't bear, it's better to control risk and the capital involved so that you wouldn't hurt much. As long as you know what you are doing, you could manage to continue it and possibly profit.
I'm saying that because if you are rushing too much and you are putting much money at risk, it's not going to end well. Yes, of course, you had some couple of wins where you have traded well and gained high percentages. In life, there's no fairytale. You could really end up losing more than you hoped for. That's what happened to me and some of it is regret. I regret being greedy, I didn't stick to my rule of thumb when trading, being impatient with what's happening, etc.
I don't want to experience losses that I couldn't bear, it's better to control risk and the capital involved so that you wouldn't hurt much. As long as you know what you are doing, you could manage to continue it and possibly profit.
The lesson I learned in trading is to have a long patience.
Because not all the time you can take profit, you need to know the right timing on when to buy and sell.
But because I cant wait longer before, I tend to panic sell often especially after reading some bad news about crypto and this led me to more losses.
Once you develop a strategy that can beat the markets many people have the tendency to think that from now on making money in the markets will be easy but that is just when the real challenge appears, the next step is to stick to your system and to follow it no matter what happens and for that you need to have patience, you must remember that most traders lose by trading with their gut and to become a successful trader you need to go against it, which is something that requires a huge level of discipline that most people do not have. Because not all the time you can take profit, you need to know the right timing on when to buy and sell.
But because I cant wait longer before, I tend to panic sell often especially after reading some bad news about crypto and this led me to more losses.
What I found for myself in trading, you do not have to trust anyone and listen to anyone. Only your head and your observational and analytical skills count, nothing more. I rely only on myself, if I make mistakes, it is my own fault
If my self view is doubtful to consider the decision not to make a mistake, I often hear the views of others, but if the view can be beneficial and makes me confident, I can accept it naturally if it is true
What I've learned most in trading is to be not greedy when chasing for profits. You must set a target profit and don't wait for the speculated price. Also it taught me to control my emotion when the market is down or a hype is happening. And also diversify your investment to minimize the risk and reduce your losses.
Most important thing is be patient. If you aren't comfortable with market conditions at any point in time, just wait it out. You aren't forced to trade all the time, and you can certainly wait till a favorable setup appears to enter a trade, however long that takes.
Don't take too much advice from others or signals for that matter. I do look at the TA of other traders from time to time, but I mostly do my own TA nowadays. It's easy to just go and pay for signals, but there aren't any shortcuts in trading.
Don't take too much advice from others or signals for that matter. I do look at the TA of other traders from time to time, but I mostly do my own TA nowadays. It's easy to just go and pay for signals, but there aren't any shortcuts in trading.
Be patient is a difficult part to have, sometimes I myself cannot control to be patient. In fact, I often participate in FOMO when trading, even though I myself have done technical analysis. Honestly, someone who has experience in trading, actually does not escape mistakes. Mistakes for not being greedy, mistakes in being patient, so far I have been able to control but not completely. Well, as I said, it's very difficult, I'm also sure you sometimes do it.
The lesson I learned in trading is to have a long patience.
Because not all the time you can take profit, you need to know the right timing on when to buy and sell.
But because I cant wait longer before, I tend to panic sell often especially after reading some bad news about crypto and this led me to more losses.
Because not all the time you can take profit, you need to know the right timing on when to buy and sell.
But because I cant wait longer before, I tend to panic sell often especially after reading some bad news about crypto and this led me to more losses.
Don't trade with your emotions. If you will be lose by the emotions you are feeling then it could not be a profitable in your trades. Let us execute our trades using our set of plan and if it goes wrong, we should not blame ourselves. Because many people, even pro traders are losing money because of the market condition.
It is good to have a winning mentality, but we still have to know that in reality, there are times we will win and there are times that we will lose, and out of emotion, people want to quickly make up with their losses, but rather than applying emotion like you said, we should just simply earn how to always strategize, if we strategize and we still loose in our trade, we should always take that losses as an experience, and as an opportunity to improve in our skill.A time will comes that we will see that we have completely overcome our emotion, and then learn through our experiences that has made us a better trader. I believe that anyone can trade and be successful, provided that we apply the right approach to it, and we are committed to learn, then we can make it.
I learn a lot of lessons, never buy when price goes up, never try to recover fast after get a loss and the most important never panic when see something bad news, and always wait to see what happen and not take a fast decision which can be wrong.
Who would ever buy when the price goes high, except the trader does not even understand what trading means. For a normal investors that know not much about trading looks for deep to buy, so I don’t see why someone who is practicing trading fully should do that. The only people I see doing this are probably newbies, who still does not understand when the market is already at peak, and when the market will make a reversal.The aspect of never panic sell is one of the main thing too that I have learnt in trading, if we are trading the right coin like bitcoin and the price is going down against our trade, it is best to just leave the market and them keep waiting for the market to rebound, because once you panic sell, you have automatically lost the trade, and since there is chance for the market to revive unlike Forex no matter how low is, then there is no point to panic sell.
No, I don't think the traders' excitement makes the value of the coins go down. that is not a sign.
I think, the crypto market always moves on the chart and I have actually witnessed that.
I used to buy coins at very high prices and lost many times. So I learned that there are some very familiar charts and I saved it in notes.
And now, I seem to have predicted many times correctly even though the numbers are not certain.
Let's learn technical analysis, you will be able to predict the whale's strategy.
I think, the crypto market always moves on the chart and I have actually witnessed that.
I used to buy coins at very high prices and lost many times. So I learned that there are some very familiar charts and I saved it in notes.
And now, I seem to have predicted many times correctly even though the numbers are not certain.
Let's learn technical analysis, you will be able to predict the whale's strategy.
I learned that in crypto trading, there are also no guarantee that your strategies will always work. I had to re-study my style of trading or revise my old strategies to make it work in the future trades. The plan you are created years ago might not work in the next few years not all market conditions are the same.
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