Topic: When Trading becomes Unfavourable - page 10. (Read 1748 times)

You can take the decision to stop an unfavourable trade no matter the amount of loss you are already incurring but at same time don't regret when the direction suddenly change to your earlier position. In that situation take it as one of those days the market is not giving a good opportunity for you.


Remember even the best trading strategy do fail so when this happens don't see your strategy as a losing one. I keep this in mind that everyday will not be a successful trading day.

The problem with many traders today is greed and a lack of fundamental knowledge of trading. It always surprises me when you see someone who is expecting to learn trading decide to trade because he saw a friend who is a trader gain profit without understanding what that friend has passed through before getting to that stage. However, greed has never favored someone anywhere, not only in trading, and the most important thing is emotion. A trader needs to have control over his emotions, even someone who is an expert in trading. If you cannot control your emotions, you are at a higher risk of losing your money than someone who is new to trading but has control over his emotions.

But for trending, when you see some trending, the best thing you should do is have a plan for it and do good research about what you see. If the number of people favoring the trend is higher than the number of people who are unlucky, you can see that you can also give the trend a try and see if it will also be in your favor.

The only trading plan to follow is buy low and sell high. There is nothing to abandon here, if you are only going with spot trading and not the others. Then there are those who panic at a market moving the opposite of what they predicted. For them I suggest dummy trading at first if they are new and that does not work to season their emotions they should stop trading.

Greed and others are common but controlling them takes time to learn. Specially if you are trading as a side hustle you can remain calm more easily - reason why I suggest people to have some real life job and then trade.

Starting a business must face many challenges. Trading should be done mainly with experience only then it is possible to profit but many times it is seen that traders fail their opponents and lose half. You need to gain good experience when you start trading otherwise you will be emotional when you face losses.  In that case you have to start trading with risk because many times you may face huge losses but also many times you may profit. You need to know the important things about trending so that you don't face losses and know which coins you can trade in to profit. If you invest in some elat coins which are not trusted then you will definitely risk your money and may face losses. But if you start trading with Bitcoin then you will have less risk of loss and will be able to profit in future without having to face losses. And you must take advice from all investors to learn more details about trading and gain experience only then you can move forward.

Should really be a gradual step and its not something a skill that you could really be able to acquire with just few steps or application or engagement towards the market but this one really involves tons of trades which you
would be able to find out whether you are really that progressive or being that stuck on a certain situation on which you cant really be able to overcome or you do continuously fail. It would really be just that a common approach or reaction that you would really be needing to adjust accordingly. We arent that blind nor not been aware on how this market behaves which it is really that truly random and no matter how well you do make out those kind of analysis whether technical or fundamentals, it wont really be still giving out that assurance that out that positive results or outcome on which there's always the possibility that it would really be that ending on negative results and just like on what others been saying that you would be needing to make yourself that versatile because if you dont, then you would definitely be making yourself struggle on handling yourself towards the market.

the usual dilemma here is that most newcomers in crypto trading have false hope of getting rich quick. they thought it is easy to earn profits from crypto, hence, they jump on every hype they see. up until they come up to the fact that most alts are just money grab from gullible buyers.

Managing trading emotions is an important thing to do first, because it is not easy to have stable trading emotions. The final determinant of trading depends on how we make decisions and emotions will underlie it. It is also influenced by the technical analysis carried out. Finding a suitable technical analysis pattern also takes time, because many analysis tools can be combined and you have to choose which one you will use. Don't neglect anything, practice trading emotions, technical analysis will give you a good experience it must go hand in hand.

such thing truly depends on your flexibility of reacting to the current circumstances after all doesn't matter whatever strategy there is you should know how to make some decision intercepting the current strategy if things went wrong and your investment might be at risk of losing instead.
but then again there strategy as simple as holding thats already proven to be effective throughout the year, even if market getting massive bearish you could just prolong the duration of your holding and you're still one.
with trading you don't have that luxury, you always need to watch out for the market movement, and sometimes you might question whether trading is worth the effort.

Most traders think that having the finest lines, curves or sleekest chart is a decisive factor about how well a trader can make profits but it's not often the case. It takes a rounded approach. In my experience, the first step in any trading career is not to learn technical analysis but to learn about emotions while looking out for patterns about how the trader in question reacts to certain situations. You might have the right technical analysis and biases but miss out on the gains because your emotions made you do so. Ignoring it simply sets one up to fail.

Of course, if we become greedy in trading, we are very possible to get a problem then. Greedy people sometimes won't set a realistic target, they will be too much obsessed of bigger profits. I myself already experienced this, I lost big money due to targeting unrealistic profits. I am not aware that the market situation may change in a short time, so planning a realistic target is a must and don't forget to analyze the market trend wisely. Both greedy and chasing the trend are not a wise way in trading, it makes us inattentive. Also, we must have own strategy in trading, don't try to follow other people's strategy that may be popular in that time. People's strategy may not fit with us, not everyone can succeed to use the same strategy!

I don't quite understand what you mean - trading should be for those who can control their emotions.

If a trader puts his emotions first - then I think they will really suffer a negative impact especially in terms of psychology. Some of the points include panic, greed and excessive anxiety so that in the end you don't succeed in getting the expected profit. That should be an important point to avoid - while they should be quite capable of learning and have a good plan for that trade.

Trading is not just all about wins, but at some point trading comes with losses as well. And regardless if you are a newbie or a pro in trading, it’s inevitable to see unfavorable trades simply because the market is not stable and certain. However, this is the reality in trading. That’s why before one decides to trade, he should weigh those calculated risks first, and should be ready to trade for losses because trading is never a guaranteed profits all the time.

Trading is like graduating from one phase to another. We can't understand every phase like others seem to but what we need to do is to get proper understanding from the stage we are so that we can utilize it in a way that will bring us profits as gambler. Some traders do still know some necessary things they needed to understand very compulsory before they start going into life trading and if we don't work smartly, we can fall out from where we want to see ourselves or from the position we started. We need to avoid and setback as a trade Mr that can bring loses to us at all cost.

On dealing with something like this which is unpredictable and totally random kind of market then it would really be just that a normal approach that you would really be needing to set not only 1 plan but having more
another or simply having that Plan B's or C's in speaking about on making out positioning because if things goes south then you are already prepared for such situation.We know that its never been that always that we can make out some precise trading decisions on which there's really a time that we would be losing a trade, there's no such thing about being a perfect trader and with such random and volatile market then it would really be just that so normal that we do either miss or able to hit the right decision.

In overall, having this market which is speculative then it would really be just that right on having that  speculative approach too on which it is really just that a typical thing to be done by people who are engaging or get involved into this market. Just  dont simply give up because of experiencing few losses or some devastating ones because you do eventually learnt up with those experience which you would be needing
to be honed so that the time comes that you are finding yourself that more skilled and experienced as the time passing by.

Well, it’s not that all the time the market will favor your trades. If that happens, surely a lot of gamblers would turn into instant millionaires. However, the reality is there are more number of unfavored trading cases compared to successful ones that’s why a lot have been losing than celebrating their gains. But of course, all these losing events have something to do based on how they trade, if they keep on chasing their greed for more profitable trades, or simply because of their wrong attitudes towards trading that make them very unlucky to make profits. But I believe what is certain is that if you don’t follow the basic rules in trading, then it’s hard to expect to end up with successful and profitable trades.

Start low and learn to use risk management. Not every trade is going to be favorable. You will need to get used to the losses. There will always be profits and losses. Because in the crypto market, one's loss is another's profit. So this will continue to happen. Either with you or someone else. So what we can do is manage our losses to minimize them. That's why it is essential to learn risk management.

Even if you follow the rules and your calculation is correct, the market is moving in the opposite direction, then you will need to change your strategy. One strategy will never work forever. Having multiple strategies is a must if you want to stay ahead.

Also, why not take a break? If the market is not favorable at the moment, take a break. Do something else. Freshen up your mind, and then come back to it later on. This helps like a charm.

Greed is the real bane of trading. Many unprofitable traders erroneously think that trading is a shortcut to making easy money. They want to increase leverage or lot size (forex term) while triggering trades but won't like to quickly exit losing trades, hoping they will revert. By the way, by "chasing a trend" I guess you wanted to say "chasing a trade" or "trading against a trend" which is a bad thing.

Another thing that can make trading unfavourable is lack of emotional control. It's in trading one knows how important the word wait or patience is. No matter how good a trader's setup or trading plan is, if he doesn't have a grip on his emotions he will mess it up. Trading is more of emotional control that technical.

Sometimes we have to be satisfied with the profit we make in a trade, we won’t always be making a good profit, the time will come when you will make a good profit. Also, make sure you avoid revenge trading. After losing money, make sure you avoid trying to make the money back instantly. That’s revenge trading, which might lead you into losing more money. That’s why if you lose in a trade, you can take a break. Never try to revenge in a trade.

When trading, it’s always advisable to have a trading strategy. We all have to develop our own trading strategy and not copy what others are using. The strategy I am using might not work for other people, which is why it’s always advisable to have a specific trading strategy. But I don’t think a trading strategy can be used forever. When we use a strategy and discover that it is no longer profitable, we have to improve it.

Becoming a successful trader is actually more of a process of forming a mental attitude that requires sufficient insight and knowledge (by intensely studying the techniques and fundamentals), sufficient practice and the application of self-discipline in shaping the mental attitude of a trader so that we can control emotions and greed. But don't just be mental too, but it must be accompanied by knowledge, therefore keep learning about traders who are diligent in analyzing and understanding so that the strategies we use are also not wrong so there is no need to change the initial plan to a new plan.

Indeed, changing the strategy mostly makes us lose, but not all of them. Sometimes changing strategies in the middle can also be profitable, so returning to the points above requires knowledge and keeping up to date with the latest news so that the decisions we make when trading are the right ones.

Actually you have made a point one of the major factors that affects trading, greediness is one of the major factors that a trader need to control its emotions and have a target during trading so that it can be able to make profit, the most thing makes traders to benefit from trading is that you have to learn trade and understand its protocols, so many people who venture into trading today do are into trading because they obtain the goods of trading by making profits, but it's not been done that way, in which I know quite well that trading is all about making money, you most have learn and understand the procedures of trading before you make money, but some traders doesn't acquire the full knowledge before trading and that is one of the things that contribute for losing in trade