Topic: When Trading becomes Unfavourable - page 9. (Read 1733 times)

Emotions are not totally a bad thing, but if one can be without emotions in trading and just focus on his unbiased analysis it will be more favorable to the trader.
Emotions can be a barrier to analysis. Sometimes your calculations may tell you something else, but your emotions will tell you something else. On a few occasions, your emotions might be right but it will just be fear.
Emotions like greed, and fear can make you make decisions that you ordinarily didn't want to make while trading and you can regret them later. So to me, it's best if you can just make decisions without any emotions involved.

Sticking to one trading plan might not be favourable to a trader because if that plan is accumulating loss, the trader needs to look for another way out in which he can use to make profit. Don't forget that a successful trader is that person that can control his risk management to male profit out of it. The strategy that works for me might not work for you that is why a trader needs to try different plans to see the one that will enable him make profit.

Those early profits are what end up getting a huge deal of newbies in trouble, as they begin to think that either trading is not as hard as other people described it or that they are incredibly talented and they did not knew this, and neither of those two options are true.

They just got lucky and instead of working hard to improve themselves they come to the conclusion they do not need to do anything else in order to become profitable, but eventually that luck runs out and then their results will reflect exactly the level of skill they have.

therefore experienced traders usually make 2 to 3 of their trading plans. the plan can change when it is felt that the market situation is not moving according to the predictions made. so it is highly recommended to change the strategy to minimize losses or even reverse it for profits.
such efforts are made by possessing excellent skills. for beginners, of course it is not recommended because what might just happen is panic and it actually ruins the plans that have been made.
if you are still losing money, it is better to stop for a moment and evaluate what went wrong. and come back when it is possible.

That's purely luck, if you are winning something at the early stages of you trading then you are purely getting lucky and nothing more. You should be doing something a bit more careful at the very start and if you did something risky and ended up with a profit, that doesn't mean that you are going to keep doing that all the time, you are going to end up losing money.

Even the best veteran traders I have seen had losses here and there, because losing is something that is natural part of trading, and if you are not careful then you are going to end up with a loss that is much bigger because you trust yourself a lot more than you should. This is why earning at the very start could be even worse, because it can lead to bigger loss later on.

Well it depends. It's good to follow your trading plan since that's what you prepared for. However there are instances wherein changing strategy is also beneficial and that is if you know the current plan is not going to have a good result. Thus, it depends on the situation since we all want to profit when we trade.

But it's not right if you're frequently switching strategy and didn't complete the current one due to your greed. The reason why you need to condition yourself to set aside emotion when dealing in trading because it can influence your decision to stick to your plan.

The mistake of newbie is they think trading is easy that's why they want to make all fast together with the profits they possibly take. That's the reason why many of them fail on their first trade because they are there by hype then gain and not for learnings and experiences.

If they approach trading in a right way and start to learn technical matters about it provably they became a pro in long run. Also to many changes happen in the market so its better for them to adopt those things so that they will not miss any important situation that can help them on their trading decisions.

No one starts on being a pro directly on which it is really just that right or normal that everyone starts on being a newbie and its true that on the time that they do reach out on being that professional or veteran then

of course this one involves that long time engagement and experience towards this market.This isnt something talking about few weeks or months but rather years because this market is always been that something random or unpredictable on which handling out yourself and making sustainable is the main challenge that you would really be needing to find out because if you cant sustain this market then there's something wrong with your trading ways and methods which is something you do need to find out. There's no indeed such thing about perfect trade but somewhat there's really that sustainable ones despite of the losses you do have you do still able to make yourself that profitable in the end of the day.

Never stop learning and dont let those few losses would discourage you on moving forward because this had been always the problem or common issue for people on easily on giving up on the time
that they do experience unfortunate events.

Remember that all veteran traders started trading from a scratch. They did a lot of mistakes and suffer consistent losses when they are newbies but that never hinder them from improving their trading career and make it even a source of living. There’s no perfect trading in reality, but what is more important is how you process all your mistakes and losses in trading that makes it more profitable and worth doing for at the moment.

Well, as an individual trader, we set our own plans and goals to create successful trading. While it’s good to follow a definite trading plan, but if you see better trading plans along the way, why not change it for better results? Successful trading is not measured on how you laid up your plans, but on how your perform your trades by following the best plan you have set it for it. At times you resort to changes, but it does not mean that you are making your trades messy and unprofitable, but you need to change your plan because it’s where you see best trading results right at that moment.

Trading is a gradual process; it's not something you can start and think you can be making money instantly. If you are looking for instant money, then stay away from trading, or you might end up losing everything. I had a similar experience when I started trading. I didn't have anyone to guide me, so I had to learn it by reading books and watching tutorial videos on YouTube. In the process of learning, I wasted all the money I deposited to trade it. I was scared then, so after entering a trade and being at a loss, I would end up selling the coin. I was scared of losing money, and it happened to me repeatedly until I had nothing left in my wallet. I did more research to gain more knowledge, and there was improvement.

Changes that had been made midway could neither be that a good call or something that turns out to be disaster on your trade since you initial plan did work and the recent one had failed out.There's always that feeling

of regret on the time that you would be able to do such thing but if it did make out that other result or going along with the current change you had and turns out to be effective or a profitable one, then you would really be having that kind of perception or thinking that it is really that better to have those kind of adjustments if ever you do feel for it to be change. This is situational and this would really vary since not all changes would result on positive because its true that if you cant really be able to steady up with your initial plans then i could say that you arent really that good on handling out your emotion or having that discipline.

Well, every decision to be made would be having that corresponding risks and since we are dealing on a market on which it is really that truly unpredictable then there's no way that we could be able to precisely tell on where it would be heading or going. This is why we do always be having that speculative approach from time to time and have those factors which could affect out our decisions earlier which we really mind off whether
we do go that way or stand still.

The reason why there is trading plan in the first place is to make trading easier. So if you suddenly change your plan while you’re in the middle of trading, what outcome do you expect? Surely it will only lead to a mess that will make you lose from your trades. However, with beginner traders, expect that there will be possible changes along the way. Probably it’s part of trial and error method, but the more you’ll gain experiences in trading, the more you’ll have fixed and stable trading plans before you decide to start trading.

If you've got a plan, you have to stick on it because that's what you think is right. But unforeseen changes do happen at any time and you should also be open on it.

Who knows if that unplanned strategy came to you and that works better for you. That means that you have discovered a strategy that works perfectly for you through this unplanned change.

Otherwise, it's best to stick to what you think is better than unknown changes that might come to you as you trade.

Actually for trading we have to learn properly about it. We saw experienced traders can profit but without proper knowledge when someone who are invest and trade then he losing his valuable fund. But some times we are losing for unfavourable trading, these factors includes Greed, and chasing a trend. Some times trade were unfavourable so we lost our valuable fund and some times we were losing for greed and some times we could not chasing trend. I think those are main causes for lose in trade. Trade were favourable and we able to control emotion and greed and market trend were Goes in our favor then we able to profit.

Greed can definitely make someone lose a lot of money and that is the case in every industry, not only in trading. I wouldn't call chasing a trend unfavorable for someone, although I believe that someone should just always do their research and analyze all the situations and the outcome of chasing a certain trend, having experience in such a case can definitely make someone feel a bit more confident because they would know everything in that case.

Also, maybe not changing the trading plan completely but making adjustments during an open trade only due to the market volatility that might not be going towards your desired direction shouldn't really be considered bad because such things can always happen in the cryptocurrency market.

Well that's right, think of it as an exchange for a valuable experience. Whatever you have done like sacrificing a lot of time and also maybe with some losses there but you have to believe that no effort betrays the results, if you really believe in what you have started then do it and be enthusiastic about the whole process. Profit or loss is normal when we become a trader and everyone will definitely experience every phase in developing their trading skills. That's right, sometimes there are also some of us and including me who when we get a profit we immediately feel very confident about the knowledge we have and as if we can master the direction of price movements in a market, even though on the other hand it is very difficult to be able to predict the market if we do not have some appropriate references that correspond to the occurrence of price direction such as some news that affects the global economy. Basically, being a trader must continue to learn, even successful traders continue to improve their knowledge on various sides, training themselves in terms of mental and psychological is very important because it will be very helpful for us to make the right decision in open positions.

The money that you lose in your journey on trading can be consider as charge to experience. Most of us suffered from losses especially when we are all just starting but yeah there are people who wins on the early stage of their trading experience and I don't think it's a bad thing especially if the trader didn't became overconfident of the market and still treat the market with caution. But yeah every successful trader experience losses on trading, it's their own will that will make them continue in practicing trading.

No matter how experience you are in trading, the market is always the master. Even sticking to the trading plan isn’t perfect either, because there are unpredictable things that would happen without warning.

Even pro traders out there are getting liquidated in their positions too. Whatever technical analysis, predictions and insights that they have, they cannot outsmart the market.

Risk management is always the best skill that we need in unpredictable situations in the crypto space.

We can learn more things from trading through experience but with that, losses will accompany us as well. As we begin trading, it should not be the profit that we have to think about first but instead, focusing on learning first and considering all the mistakes and losses will help us more. We can say that nobody becomes successful in trading without suffering losses and it comes with patience. And if we think it was easy, I don't think we are able to reach our goal and become successful but possibly will fail.