Topic: When Trading becomes Unfavourable - page 12. (Read 1748 times)

Changing plans in the middle of the journey is not good at all, especially if it is closely related to the plan that we built at the beginning. We must be consistent in anything, but we must also be able to evaluate what we do. I am a person who believes that there is no perfect strategy, or in other words, we must continue to improve or evaluate at all times.

Now sometimes I see people misinterpreting this, especially for those who are new to trading. They listen and swallow raw what others say, when it should be processed first.

Yes, adherence to the trading plan is healthy in trading. It is wrong to move from one strategy to another without completing it. This movement often causes losses.

It is true that most of the time you have to stick to the trading plan until the end, but on the other hand, sometimes insisting on continuing the strategy is a mistake. If you see a defect in the results, you should re-evaluate the plan and then decide whether to continue, move to another strategy, or stop.

If the trading pattern you stick to stops working for you, and you probably stop gaining profit from trading, then it is time to review other trading patterns and make some changes because no one wants to lose.

Greed is not always favorable, but following trends pays sometimes when you do good research about the trend and take caution before starting to follow the trend.

It's healthy that you still feel emotions imo, that means that you're not totally a slave to money, if I'm being honest it's okay to express the emotions instead of bottling them up, the key to not affect your trade is that you can control when you express it.
The beauty of altcoin imo is that you can make profits if you're one of the many first to buy the token, 2nd and 3rd generation buyers aren't that lucky because then they have to watch the price and hope that their initial altcoin purchase would generate them an acceptable if not adequate. That's where your skills in trading sharpens though, makes you great at analysis and predictions.

Experience matters in trading, but some traders will continue to lose because they will continue to fail to adjust. They might have in mind that they will not let emotion controls them but after they open a position, all they will find out is that they later go against their trading plan which lead to significant loss. After the emotion, changing of trading plan and money loss, the market will later reverse back in a way that would have favoured them.

The ones I can not go for again is increasing leverage if I start a trade with 3 to 5x margin ratio. I will first prefer to start with low amount and average instead. Anything going more than 5x for bitcoin, I can do again. Martingale strategy which is very risky has been what that affected me most that is leading to losses for me. It can get to the point that the market might reverse before liquidation but I would have closed the position because I do not want to lose further. Leverage and increasing leverage is very risk. Too much leverage is risky and is what that can mostly affect your emotion and trading plan.

This is crypto. Another thing that can make someone to lose is the coin they are using. I prefer to use bitcoin and just bitcoin alone. There are some good altcoins too, but I prefer to focus on bitcoin. There are many altcoins that are gambling and they are shitcoins. The trader may be very good, having good analyses that will favour the traders if they use good coins like bitcoin, but using shitcoins will lead to losses and losses.

It is good to know that trading is very risky.

There are few factors that leads to unfavourable trading, these factors includes Greed, and chasing a trend, Traders are expected to encounter Challenges during trading and relating these challenges with people's experiences can be the key in solving the challenge, 
Sticking to the trading plan is also good to avoid unfavourable trade as changing plans in the middle of a trade Can really lead to a loss in trade.