When Trading becomes Unfavourable - page 7.

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Quote from: Natalim on August 23, 2023, 04:43:38 PM

Quote from: crwth on August 21, 2023, 01:22:39 AM

You could classify those things with your emotions. And it's not a factor of what happens in the market but a factor where you are trying to make yourself vulnerable towards how you are going to react with the market. It's going to lead to unfavorable trading, but you can do something about it if you step away from the emotions itself. That's why I love bots so much because they are consistent with trading.

Well, bots are emotionless and they will take the job whatever the command, unlike us humans who could easily affected by whatever happen in the market. This is the advantage of using bots but for me, I'm still confident in myself and with the help of my experience, I could still manage myself and do it well.

However, there is no perfect trade in trading, mistakes are possible to happen but I don't blame that market volatility instead, I blame myself because I did it imperfectly.

Crwth, Another way to step from emotion is the take some time off from cryptocurrency trading because the reason for the emotional trading could be the much time spent.
Natalim, the use of a crypto trading bot is not about not trusting oneself, it's about having some time off trading while you still participate in the market, and it was also created as a way to avoid too much time on crypto trading which has affected some trader medically

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Quote from: Natalim on August 23, 2023, 04:43:38 PM

Quote from: crwth on August 21, 2023, 01:22:39 AM

You could classify those things with your emotions. And it's not a factor of what happens in the market but a factor where you are trying to make yourself vulnerable towards how you are going to react with the market. It's going to lead to unfavorable trading, but you can do something about it if you step away from the emotions itself. That's why I love bots so much because they are consistent with trading.

Well, bots are emotionless and they will take the job whatever the command, unlike us humans who could easily affected by whatever happen in the market. This is the advantage of using bots but for me, I'm still confident in myself and with the help of my experience, I could still manage myself and do it well.

However, there is no perfect trade in trading, mistakes are possible to happen but I don't blame that market volatility instead, I blame myself because I did it imperfectly.

If you do really know on how to make use of bot then you would definitely be an advantage for you to use it on your own since you are knowledgeable on how to tweak those indicators and set ups which would really

be in accordance into your preference or trading ways or methods. Bots are for automation on which there is really a misconception in between bots and manual trading on which newbies do believe that bots
could really be able to make easy money but it is really just that wrong. Make use of trading bots when you are away from your computer but what i do prefer the most is manual trade on which you could really be able to watch and act accordingly if ever there would be some sudden movements or unexpected ones that do happen in the market.

Just like on what been said by most that losses are something that cant be avoided. There are trading decisions and positions which would really be that a losing one.Therefore, you would really be needing up to adjust
for you to be able sustain out this unpredictable market.

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Quote from: crwth on August 21, 2023, 01:22:39 AM

You could classify those things with your emotions. And it's not a factor of what happens in the market but a factor where you are trying to make yourself vulnerable towards how you are going to react with the market. It's going to lead to unfavorable trading, but you can do something about it if you step away from the emotions itself. That's why I love bots so much because they are consistent with trading.

Well, bots are emotionless and they will take the job whatever the command, unlike us humans who could easily affected by whatever happen in the market. This is the advantage of using bots but for me, I'm still confident in myself and with the help of my experience, I could still manage myself and do it well.

However, there is no perfect trade in trading, mistakes are possible to happen but I don't blame that market volatility instead, I blame myself because I did it imperfectly.

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Quote from: KupaCrypto on August 14, 2023, 05:17:23 AM

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.

There’s no place for perfect trading in the market. If you won’t fall for profits, probably you’re on your way for some losses. So never expect that you trade to win all the time, because in reality trading is more on losses instead especially if you are still a beginner trader. But no worries because you will learn eventually from all the mistakes and losses that are happening in your trades. Quitting should not be an option. Yes, you can take a break from trading, but after that, keep on trading again because that’s the only way you’ll gain more experience and become a skilled trader in the future.

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Quote from: Taskford on August 23, 2023, 07:25:19 AM

Quote from: Franctoshi on August 23, 2023, 05:30:55 AM

Quote from: _BlackStar on August 14, 2023, 12:27:14 PM

Quote from: KupaCrypto on August 14, 2023, 05:17:23 AM

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.

I totally disagree - especially if you have to change your long term to short term plans out of necessity.

As long as you sell it in a position that benefits you financially - then you are free to make changes to the plan. Trading shouldn't be so rigid - sometimes you also need to make adjustments instead of sticking to a strategy that isn't more profitable. I hope you see what I mean - but it's not too hard.

You nailed it, The market is reactive, even though we have trading plans and all sorts of that, We should learn how to adjust if need be, sometimes some situations occur in the market and your strategy will seem not to be giving you the expected results, which is as result of the economic factor, wars or any bad event. For example, if you notice since the coronavirus pandemic, the dynamics of the mark has changed slightly.

While trading its important to see the news since this could change the situation of the market and we need to be more careful on dealing some of our expectation so that we will not exceed and trade can trade according to our plans. Since sometimes we are prone to commit mistakes if we just rely on buying it then wait for a pump and we need to correct that traits so that unfavourable trades might not always happen to us.

When it comes to trading then you shouldnt really just that focus when it comes to technicals but rather you should really check out the fundamentals too on which it is really that true that news and events could really make out such impact and would really be that significant on this space and its not something that you should really be that ignoring. Sooner or later you would really be able to realize on what are the main things that you would really be needing on your trading career. You would be facing up situations and conditions which it would really be just a normal part and needing that
normal approach also. Trading cant be perfect and this is why as a trader then you should already anticipate that losses would be on the way and something inevitable that you would be facing on.
Thing here is that you do really know on how to adjust and make yourself that learn with those mistakes so that in next time then you do already know on what you should gonna do.

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Quote from: Franctoshi on August 23, 2023, 05:30:55 AM

Quote from: _BlackStar on August 14, 2023, 12:27:14 PM

Quote from: KupaCrypto on August 14, 2023, 05:17:23 AM

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.

I totally disagree - especially if you have to change your long term to short term plans out of necessity.

As long as you sell it in a position that benefits you financially - then you are free to make changes to the plan. Trading shouldn't be so rigid - sometimes you also need to make adjustments instead of sticking to a strategy that isn't more profitable. I hope you see what I mean - but it's not too hard.

You nailed it, The market is reactive, even though we have trading plans and all sorts of that, We should learn how to adjust if need be, sometimes some situations occur in the market and your strategy will seem not to be giving you the expected results, which is as result of the economic factor, wars or any bad event. For example, if you notice since the coronavirus pandemic, the dynamics of the mark has changed slightly.

While trading its important to see the news since this could change the situation of the market and we need to be more careful on dealing some of our expectation so that we will not exceed and trade can trade according to our plans. Since sometimes we are prone to commit mistakes if we just rely on buying it then wait for a pump and we need to correct that traits so that unfavourable trades might not always happen to us.

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Quote from: _BlackStar on August 14, 2023, 12:27:14 PM

Quote from: KupaCrypto on August 14, 2023, 05:17:23 AM

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.

I totally disagree - especially if you have to change your long term to short term plans out of necessity.

As long as you sell it in a position that benefits you financially - then you are free to make changes to the plan. Trading shouldn't be so rigid - sometimes you also need to make adjustments instead of sticking to a strategy that isn't more profitable. I hope you see what I mean - but it's not too hard.

You nailed it, The market is reactive, even though we have trading plans and all sorts of that, We should learn how to adjust if need be, sometimes some situations occur in the market and your strategy will seem not to be giving you the expected results, which is as result of the economic factor, wars or any bad event. For example, if you notice since the coronavirus pandemic, the dynamics of the mark has changed slightly.

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Quote from: KupaCrypto on August 14, 2023, 05:17:23 AM

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.

This is not always the case, in fact sometimes we have to change plans in the middle of a trade that we are doing to minimize risk or turn things around, trading is very flexible, everything is possible to happen, so we have to be prepared in all things.
And as for greed I think it's beyond trading techniques, it's more self-control, if for greedy let alone trading in any case those who are greedy will never find success.

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Quote from: Bushdark on August 21, 2023, 12:27:41 PM

Quote from: letteredhub on August 21, 2023, 11:54:04 AM

Sticking to the original trading plan is actually good but there are circumstance in the course of the trade that will necessitate a change of plan that's why as a trader always have a contingency plan/strategy for every trade you execute so you don't get stucked in the middle of a trade that's not going in your favour and needs an immediate change of action you don't start working on emotions and blind trading.

Those who work with trading plan are the ones that will become successful in trading because greed is one of the things that will that keep making traders to end up in loses. It is good to always ask questions no meter how good we are in trading. Traders need a lot of effort to analyze the market so that one can be more profitable as a trader. Those we keep losing in trading are doing that because of eithner they are not ready to learn or they can't analyze the market very well. Market analysis is a very important part if being a trader unless we are using bots.

You don't always have to change your plan just because of greed but it can sometimes be done so that you don't face a higher loss from that trade, and even if you are changing the plan so that you can get a higher profit percentage, I don't see anything wrong with that as long as you have your stop-loss placed at the right position that won't let you incur losses in case the price reverses and doesn't hit the take profit target that you were expecting.

However, I agree that there is nothing wrong in changing your plan as per the market conditions at a certain time, and that is why, it is always best to place your trades with proper risk-management techniques so that even if you have to change plans in the middle, you don't face any issues.

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Quote from: Peanutswar on August 22, 2023, 06:03:48 AM

Quote from: KupaCrypto on August 14, 2023, 05:17:23 AM

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.

Better to find a trading pattern, and trading strategy to your side because not as always others strategy is working on you and suitable on it is to change every time it doesn't work, also make a backtrack with your trading mistakes, this serves to you as a guide and identifier with your trading activities. I know this could be an expensive learning but this is part of the trading journey of course, if your not too much confident why not take a try with the scalping or spot trading for a while.

That is really the problem of newbie traders; they tend to copy the strategies of others or, like, even those posted on Youtube, and they think that it will work on them. But I am also one of them. Before I asked my friend what his strategy was, he explained it, and when I tried it, it didn't work on my end. I kept losing. This is because it may work on others as they really learned their strategy and they really understood it as they made it, so you should also make it for yourself.

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Quote from: KupaCrypto on August 14, 2023, 05:17:23 AM

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.

Well this is important for us to be able to have financial management, risk management and emotional management in trading. Well, I haven't mastered all of that yet. I'm also still learning about it. But after I learned this, it is actually quite effective in minimizing losses. And maximize profit potential. But out of all of them the least easy to learn is about building a strong mentality in trading. Well sometimes because our weak mentality can make us deviate from the mature trading plan we have made. And yeah that's not a good thing. And people say that mentality builds up with more experience in trading. I believe it. Because I also feel like I'm starting to get better after I get more and more involved in trading.

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Quote from: GeorgeJohn on August 22, 2023, 06:23:01 PM

Quote from: Abu-Naim on August 14, 2023, 09:45:06 AM

Quote from: KupaCrypto on August 14, 2023, 05:17:23 AM

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.

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.

You know when you learn trading as a skill you will have different techniques to trade when the first and second methods fails you, what i want you to understand in trading is that you have to know exactly the needful and the necessary things about trading..it's people who did not learn the procedures of trading that doesn't know the strategies of trading and how to overcome the risk and the obstacles and challenges you can face or encounter in trading, so we don't need to depend on one method of trading

In my opinion, if the strategy you're using is not working for you, doesn't mean it's working to others. Sometimes the problem is us, we have different level of patience and discipline, also we have different execution in trading. So if you're still losing with trades, make sure you have journaled it to identify the mistake you made. Ofcourse in the first place, you have been backtested your strategy. In a couple of trades even though you're doing your best but still losing trades consistently then that's the time you have to find another strategy that works for you.

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Quote from: Abu-Naim on August 14, 2023, 09:45:06 AM

Quote from: KupaCrypto on August 14, 2023, 05:17:23 AM

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.

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.

You know when you learn trading as a skill you will have different techniques to trade when the first and second methods fails you, what i want you to understand in trading is that you have to know exactly the needful and the necessary things about trading..it's people who did not learn the procedures of trading that doesn't know the strategies of trading and how to overcome the risk and the obstacles and challenges you can face or encounter in trading, so we don't need to depend on one method of trading

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Quote from: letteredhub on August 21, 2023, 11:54:04 AM

Sticking to the original trading plan is actually good but there are circumstance in the course of the trade that will necessitate a change of plan that's why as a trader always have a contingency plan/strategy for every trade you execute so you don't get stucked in the middle of a trade that's not going in your favour and needs an immediate change of action you don't start working on emotions and blind trading.

Agree. There is a situation when we must change the plan, we can't force to stick on the original plan forever. That's why a trader must have several plans, don't make a single plan only. I sometimes do cutloss or change my trading style if it is needed. I also won't stick on my original plan if it looks bad for the future. We must have the ability to analyze the future of the market and our coins, so we can adjust the plan or the strategy.

Well, the point is whenever we realize our plan is no longer effective, there should be a change. But if the plan looks still effective enough, we are better to stick on the original plan. Sure, the change is needed if it is likely to get stucked and not favorable anymore. However, we don't change the plan because we panic or emotion. It should be according to a deep analysis.

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Quote from: irhact on August 22, 2023, 02:53:42 PM

Quote from: KupaCrypto on August 14, 2023, 05:17:23 AM

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.

Sticking to a particular trading plan is good when that plan is making you profits but if the plan stop bringing in profit then you have to stop using it and move to another plan that can make your profits because a trader that's not making profits is of no good. Trading can be unfavorable when you don't know what you're doing or aren't using the right tools to analyze the market. As a trader you have to overcome your emotions so they don't influence the decision you're making.

All decision taken when trading should be as a result of what you have analyze from the market and not just following your feelings or what you think will happen. Chasing a trend or allowing your greed to control you will only make you lose more than you win from trading.

Sometimes it does have advantages but also there are really times that it would really be that a disadvantage since we know that there are really that moments which the market do make out some movements which is out of our charts and this is why having plan B's or C's would really be that relevant just like on what others been saying above. If you do see that there would really be those sudden changes then it wont really be that bad on making out some alterations when it comes to your trades. We know that this market cant really be having that kind of precise prediction basing up with your technicals or even with fundamentals because it cant really be anytime to be able to follow on what those signals or indicators been showing on. On trading then you should already anticipate things turns to be that fully that unpredictable on which results would really be that something
that could really be totally random and this is why making yourself that optimistic will definitely be bringing out some tons of disappointments on the time that you would be losing your trades which you do believe
that it is really that a sure profits one.

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Sometime i stop to ask, what the difference is between gambling and trading because but present a significant high risk and same pattern of lose accumulations, reading through alm the replies in this thread makes me more convinced on this fact.

Greed have been the most mentioned reasons while traders lose and doing so can come in form of increasing your leverage level because this will draw close your liquidation value and if the market should go against your expectation you lose quickly, so the best possible thing to do is to use low leverage and not allow emotions to control you into increasing leverage all in anticipation of winning.

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Quote from: KupaCrypto on August 14, 2023, 05:17:23 AM

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.

Sticking to a particular trading plan is good when that plan is making you profits but if the plan stop bringing in profit then you have to stop using it and move to another plan that can make your profits because a trader that's not making profits is of no good. Trading can be unfavorable when you don't know what you're doing or aren't using the right tools to analyze the market. As a trader you have to overcome your emotions so they don't influence the decision you're making.

All decision taken when trading should be as a result of what you have analyze from the market and not just following your feelings or what you think will happen. Chasing a trend or allowing your greed to control you will only make you lose more than you win from trading.

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Quote from: Yamane_Keto on August 15, 2023, 05:07:23 AM

The factors that you mentioned are psychological problems, following the direction of trading comes from a feeling of fear and greed that makes the individual take incorrect decisions only because everyone does that. When the price drops, you find everyone selling, and when it rises, you find everyone buying. Psychological trading can be solved by automating trading, but developing a strategy that includes all scenarios and plans to deal with them will lead to better results, or at least when things go wrong, do not make any decisions because sometimes the cost of making a decision is good, and sometimes it is better not to take any reaction.

Trading is not for people who are controlled by their emotions.

I agree with you, maybe the strategy was not bad, but if you do not control your emotions about deviating from the plan from your strategy, then you can lose money. The reason for the loss of this money will not be a bad strategy, but emotions that have taken control. It happens to everyone sometimes it is not necessary to draw conclusions and not repeat these mistakes.
It's hard to trade if you can't control your emotions.

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Quote from: yhiaali3 on August 14, 2023, 10:44:29 AM

Quote from: KupaCrypto on August 14, 2023, 05:17:23 AM

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.

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 you are driven by greed, then switching from one strategy to another is definitely a bad idea. This may give a result once or twice, but at a distance it can bring losses.
If your strategy is not working, then it should be rethought, I agree with you. Worse than a non-working strategy can only be its absence.
I agree with you, sometimes stopping and waiting without doing anything is the best strategy at this point in time.

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Quote from: KupaCrypto on August 14, 2023, 05:17:23 AM

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.

Better to find a trading pattern, and trading strategy to your side because not as always others strategy is working on you and suitable on it is to change every time it doesn't work, also make a backtrack with your trading mistakes, this serves to you as a guide and identifier with your trading activities. I know this could be an expensive learning but this is part of the trading journey of course, if your not too much confident why not take a try with the scalping or spot trading for a while.

Topic: When Trading becomes Unfavourable - page 7. (Read 1733 times)