Those who don't do well in trading while chasing the goal which doesn't seem to reachable are always had to happily make an investment in bitcoin because it is an only possible way to cover all losses which has caused during the trading, which can replace with profit by holding bitcoin for a long period of time.
If you keep failing in a trading method it doesn't mean you have to completely skip trading, you can try to switch your trading method like day trading into mid or short term but for doing this you need to have enough capital that's why its always better to start trading with very low amount from your total capital investments on cryptos.
Topic: Why people run away from trading!!! - page 10. (Read 3142 times)
They think that they can make money quickly and easily. They believe in advertising. But they lack knowledge.
I have been reading a lot of articles on the forum and i have to say a lot of people are already giving up on trading due to some minor/major setbacks.
I write this article today to explain some few reasons why i think people are not really comfortable with the trading environment.
1. Lack Of Proper Trading Education
A wise man once said " Lack of education causes lack of progress which in turn causes lack of motivation". Most new traders have a common believe that the trading market is a Fast Money Producing market which is very wrong. Instead of learning the basics of trading and develop a reliable trading skill they settle for Signal groups or end up investing in a scam so called (money multipler groups).
2. No Risk Management
I am a victim of "No Risk Mangement". In my earlier days of trading, i always try to maximize profits neglecting the probability of the loss if a trading day/week doesn't go my way. The market is becoming unpredictable day by day, therefore traders new or experienced need to have a proper risk management regardless of your analysis of the market. I personally enter a position with 3 -- 5% risk of my total equity.
3. Lack Of Patience
The trading market is not always green or red, it's unpredictable as i mentioned earlier so there will be good and bad days for a constant trader. The aim of all traders is to at least 10X their loss in profits but if this is not the same for you, you need to be really patient with the market and try and go through your analysis and strategies all over again. Sometimes it might even require you changing the pairs you trade.
Additional information and advices would be appreciated. Thank You, Stay Home, Stay Safe.
I write this article today to explain some few reasons why i think people are not really comfortable with the trading environment.
1. Lack Of Proper Trading Education
A wise man once said " Lack of education causes lack of progress which in turn causes lack of motivation". Most new traders have a common believe that the trading market is a Fast Money Producing market which is very wrong. Instead of learning the basics of trading and develop a reliable trading skill they settle for Signal groups or end up investing in a scam so called (money multipler groups).
2. No Risk Management
I am a victim of "No Risk Mangement". In my earlier days of trading, i always try to maximize profits neglecting the probability of the loss if a trading day/week doesn't go my way. The market is becoming unpredictable day by day, therefore traders new or experienced need to have a proper risk management regardless of your analysis of the market. I personally enter a position with 3 -- 5% risk of my total equity.
3. Lack Of Patience
The trading market is not always green or red, it's unpredictable as i mentioned earlier so there will be good and bad days for a constant trader. The aim of all traders is to at least 10X their loss in profits but if this is not the same for you, you need to be really patient with the market and try and go through your analysis and strategies all over again. Sometimes it might even require you changing the pairs you trade.
Additional information and advices would be appreciated. Thank You, Stay Home, Stay Safe.
Apparently most of the people I do think are :-
Scared to loose money
Cannot invest much time
I do think in trading one needs a lot of time and ofcourse , even a single mistake can cost you a lot .
It is really hard sometimes to keep track of the market , the prices changes every second and therefore most people unfortunately have that negative feeling that they won't be able to perform better . At the same time their past mistakes makes them really think about doing it again .
Contrary to popular belief I do think trading is actually not about luck , but rather it's Time , Investment, Strategy . It is an art , the person who knows how to do it can actually become rich in a matter of days I would say .
frankly speaking, trading is quite a tedious job online especially if you want to make the most out of it. A non passive trader will show a lot of dedication towards acquisition of knowledge and skills which comes from many years of pracyice.I have been there and done that but I couldn't continue due to the nature of my offline job which is equally mentally demanding and time consuming
I have been reading a lot of articles on the forum and i have to say a lot of people are already giving up on trading due to some minor/major setbacks.
I write this article today to explain some few reasons why i think people are not really comfortable with the trading environment.
1. Lack Of Proper Trading Education
A wise man once said " Lack of education causes lack of progress which in turn causes lack of motivation". Most new traders have a common believe that the trading market is a Fast Money Producing market which is very wrong. Instead of learning the basics of trading and develop a reliable trading skill they settle for Signal groups or end up investing in a scam so called (money multipler groups).
2. No Risk Management
I am a victim of "No Risk Mangement". In my earlier days of trading, i always try to maximize profits neglecting the probability of the loss if a trading day/week doesn't go my way. The market is becoming unpredictable day by day, therefore traders new or experienced need to have a proper risk management regardless of your analysis of the market. I personally enter a position with 3 -- 5% risk of my total equity.
3. Lack Of Patience
The trading market is not always green or red, it's unpredictable as i mentioned earlier so there will be good and bad days for a constant trader. The aim of all traders is to at least 10X their loss in profits but if this is not the same for you, you need to be really patient with the market and try and go through your analysis and strategies all over again. Sometimes it might even require you changing the pairs you trade.
Additional information and advices would be appreciated. Thank You, Stay Home, Stay Safe.
I write this article today to explain some few reasons why i think people are not really comfortable with the trading environment.
1. Lack Of Proper Trading Education
A wise man once said " Lack of education causes lack of progress which in turn causes lack of motivation". Most new traders have a common believe that the trading market is a Fast Money Producing market which is very wrong. Instead of learning the basics of trading and develop a reliable trading skill they settle for Signal groups or end up investing in a scam so called (money multipler groups).
2. No Risk Management
I am a victim of "No Risk Mangement". In my earlier days of trading, i always try to maximize profits neglecting the probability of the loss if a trading day/week doesn't go my way. The market is becoming unpredictable day by day, therefore traders new or experienced need to have a proper risk management regardless of your analysis of the market. I personally enter a position with 3 -- 5% risk of my total equity.
3. Lack Of Patience
The trading market is not always green or red, it's unpredictable as i mentioned earlier so there will be good and bad days for a constant trader. The aim of all traders is to at least 10X their loss in profits but if this is not the same for you, you need to be really patient with the market and try and go through your analysis and strategies all over again. Sometimes it might even require you changing the pairs you trade.
Additional information and advices would be appreciated. Thank You, Stay Home, Stay Safe.
Apparently most of the people I do think are :-
Scared to loose money
Cannot invest much time
I do think in trading one needs a lot of time and ofcourse , even a single mistake can cost you a lot .
It is really hard sometimes to keep track of the market , the prices changes every second and therefore most people unfortunately have that negative feeling that they won't be able to perform better . At the same time their past mistakes makes them really think about doing it again .
Contrary to popular belief I do think trading is actually not about luck , but rather it's Time , Investment, Strategy . It is an art , the person who knows how to do it can actually become rich in a matter of days I would say .
Those who don't do well in trading while chasing the goal which doesn't seem to reachable are always had to happily make an investment in bitcoin because it is an only possible way to cover all losses which has caused during the trading, which can replace with profit by holding bitcoin for a long period of time.
If you keep failing in a trading method it doesn't mean you have to completely skip trading, you can try to switch your trading method like day trading into mid or short term but for doing this you need to have enough capital that's why its always better to start trading with very low amount from your total capital investments on cryptos. I have been reading a lot of articles on the forum and i have to say a lot of people are already giving up on trading due to some minor/major setbacks.
I write this article today to explain some few reasons why i think people are not really comfortable with the trading environment.
1. Lack Of Proper Trading Education
A wise man once said " Lack of education causes lack of progress which in turn causes lack of motivation". Most new traders have a common believe that the trading market is a Fast Money Producing market which is very wrong. Instead of learning the basics of trading and develop a reliable trading skill they settle for Signal groups or end up investing in a scam so called (money multipler groups).
2. No Risk Management
I am a victim of "No Risk Mangement". In my earlier days of trading, i always try to maximize profits neglecting the probability of the loss if a trading day/week doesn't go my way. The market is becoming unpredictable day by day, therefore traders new or experienced need to have a proper risk management regardless of your analysis of the market. I personally enter a position with 3 -- 5% risk of my total equity.
3. Lack Of Patience
The trading market is not always green or red, it's unpredictable as i mentioned earlier so there will be good and bad days for a constant trader. The aim of all traders is to at least 10X their loss in profits but if this is not the same for you, you need to be really patient with the market and try and go through your analysis and strategies all over again. Sometimes it might even require you changing the pairs you trade.
Additional information and advices would be appreciated. Thank You, Stay Home, Stay Safe.
I write this article today to explain some few reasons why i think people are not really comfortable with the trading environment.
1. Lack Of Proper Trading Education
A wise man once said " Lack of education causes lack of progress which in turn causes lack of motivation". Most new traders have a common believe that the trading market is a Fast Money Producing market which is very wrong. Instead of learning the basics of trading and develop a reliable trading skill they settle for Signal groups or end up investing in a scam so called (money multipler groups).
2. No Risk Management
I am a victim of "No Risk Mangement". In my earlier days of trading, i always try to maximize profits neglecting the probability of the loss if a trading day/week doesn't go my way. The market is becoming unpredictable day by day, therefore traders new or experienced need to have a proper risk management regardless of your analysis of the market. I personally enter a position with 3 -- 5% risk of my total equity.
3. Lack Of Patience
The trading market is not always green or red, it's unpredictable as i mentioned earlier so there will be good and bad days for a constant trader. The aim of all traders is to at least 10X their loss in profits but if this is not the same for you, you need to be really patient with the market and try and go through your analysis and strategies all over again. Sometimes it might even require you changing the pairs you trade.
Additional information and advices would be appreciated. Thank You, Stay Home, Stay Safe.
Apparently most of the people I do think are :-
Scared to loose money
Cannot invest much time
I do think in trading one needs a lot of time and ofcourse , even a single mistake can cost you a lot .
It is really hard sometimes to keep track of the market , the prices changes every second and therefore most people unfortunately have that negative feeling that they won't be able to perform better . At the same time their past mistakes makes them really think about doing it again .
Contrary to popular belief I do think trading is actually not about luck , but rather it's Time , Investment, Strategy . It is an art , the person who knows how to do it can actually become rich in a matter of days I would say .
When people keep losing more money which is not affordable for them to lose then they will run away from their trading its not bad though if they realize that before losing all of their money.But when someone keep making profits and losing at the same time due to lot of factors then they should follow different strategies like money management, increase their trading skill will help them to reduce the losses and will make them to be in profits overall.
Everyone has a different risk tolerance and risk understanding, some traders love to take risk for doubling their budget less than week in short term swings. Some traders look for 10% annual profit per year. The first category traders usually fail and give up about trading especially if the market is more volatile.
Improper training will lead to the main reason why people run away from trading. And if someone gets it right, it is an experience that can lead to financial stability. Impatient and fear of missing out is also other factors
There will be no training if they are not dedicated,Trading is not just like a Job that you only need to enter your office and bosses will give you task to fulfill .
Trading is a complete combination of being employee and employer because here you need to make
thorough research and you will also need to act on that findings.
and also without Greed in your Heart then maybe the chance of gaining is higher and the demand of profit
will surely come easier.
Never lose your temper,be Man enough to stand on your decision and also expect some losses
because there is no perfect trading,everyone lose sometimes.
1. Lack Of Proper Trading Education
2. No Risk Management
3. Lack Of Patience
2. No Risk Management
3. Lack Of Patience
4. Having that mindset that trading is an easy money generator.
5. They set up goals basing on others positive outcomes
6. Emotion
Lots of experience or things that you should face on first before for you to able to learn.
It will vary on each person because not all would have the same effort on learning things up.
Yes, i think these things are very urgent for every trader. Without trading education a man can not focus to perfect trading and at the same time patience, emotions, management and finally goal set. But problem is every time market behaviors are not same as we planned so that we missed our goal at that time we have to be patience and have to analysis the market so that there would be lack possibility for next failure.
it is not easy to make money in trading but if you like to be successful with it then you should not give up.
In every business too, it is not easy to stand on it as not giving up is a key to success everywhere. Trading is a skill that should be learned and practiced upon. It isn't what someone should joke with because it involves lots of easy profit and easy losses too.
Improper training will lead to the main reason why people run away from trading. And if someone gets it right, it is an experience that can lead to financial stability. Impatient and fear of missing out is also other factors
Not everyone finds trading easy, some people find it very difficult to deal with, that is why they run away from it. You think trading doesn't require courage? It requires the biggest courage, the courage to lose money that you earned hardly by working, so it is not that simple to just put all that money into something and lose it.
Of course if you are a good trader or an investor you might have became lucky and invested small to something that later became very big which would allow you to have a lot more to invest and you could do it. But not everyone is lucky neither, so they have to put their own money into it. Combine both of this together and you got yourself some sort of reason to panic while trading, these two are not the only reasons but the biggest I am aware of.
Of course if you are a good trader or an investor you might have became lucky and invested small to something that later became very big which would allow you to have a lot more to invest and you could do it. But not everyone is lucky neither, so they have to put their own money into it. Combine both of this together and you got yourself some sort of reason to panic while trading, these two are not the only reasons but the biggest I am aware of.
Lack Of Proper Trading Education
A wise man once said " Lack of education causes lack of progress which in turn causes lack of motivation". Most new traders have a common believe that the trading market is a Fast Money Producing market which is very wrong. Instead of learning the basics of trading and develop a reliable trading skill they settle for Signal groups or end up investing in a scam so called (money multipler groups).
In some cases I don't think that it has to do with lack of proper education. I think anyone that wants to learn about trading will always find articles that talks about it, they are everywhere and a search on Google will bring them all up, so that's not really a problem these days. The main problem is that some of them no matter how much they learn it, they still won't understand it. Some of them spend time learning technical analysis and after all that, they still don't get it and end up losing when they try to trade. It can be very frustrating in this case. And some of them don't have patience, and they don't know how to manage their risks.A wise man once said " Lack of education causes lack of progress which in turn causes lack of motivation". Most new traders have a common believe that the trading market is a Fast Money Producing market which is very wrong. Instead of learning the basics of trading and develop a reliable trading skill they settle for Signal groups or end up investing in a scam so called (money multipler groups).
If we keenly notice that trading requires something more than just education; it might be proper experiences and utilizing it at right times. Because, most traders are good in learning process but too poor while applying it in markets and the same applicable for their experiences as well.
They are giving up because lack of knowledge that's the number one things, without it we cannot succeed in trading.
Then, it will followed by your tips in this thread section. As a trader, we need to be wise at all cost and We also need to become
a risk-taker as well.
While without a doubt the lack of knowledge is running rampant in this market as most newbie traders believe that they can obtain profit very easily in a matter of weeks, at the same time I think we are underestimating the difficulty that trading entails, it is very easy to think that you are going to make a lot of money when you trade but even with the right knowledge it is incredibly difficult and that is simply because most people do not really have what it is necessary to become a good trader, you need a certain kind of personality because trading is very counterintuitive and you need to go against your natural tendencies if you wish to make any money in the markets. Then, it will followed by your tips in this thread section. As a trader, we need to be wise at all cost and We also need to become
a risk-taker as well.
The problem of traders starts from within them, lack of patience, greed etc but why can't we just support both side? We have bear market and bull market right? If you can stay between both we will make profits from both, for example, buy bitcoin and hold, buy Usdt and hold, if bear took over then use the usdt, you will get more bitcoins
Yes, trading is not an easy thing to do, there are people who try to do trading and when it doesn't work out for them they stop trading and look for other things to do. There are lots of things to addressed and focused to sustain as a profitable trader; this is the reason only very few people are continuing and most others are quitting it after a struggle.Just like my friend that tried to be a trader, after a very long time of trying to understand trading, he couldn't get it. He tried to trade a lot of times and it wasn't really working out for him, so he decided to forget everything about trading and go for long term investment (HODL). And it has been working for him in that area, he doesn't have much area and he is also the type that has patience and can invest and wait.
In my opinion Trading is an easy task for me. it requires patience and discipline. For trade daily technical analysis is necessary thing. Without technical analysis knowledge you can't be success in trading. So be a successful trader you must learn technical analysis. lots of people progress emotion and FOMO, and as soon as they carry out they passing run of the market. nearly everyone people are land and before you for a pump to reserve profit not of necessity trading that is like betting just that your stock doesn't vanish ceaselessly like gambling.
To be honest, trading cryptocurrency is not as easy as it seems. Requires lots of research and look after so many things especially when the market is not optimistic. In addition, controlling your emotions is also very chief in trading. After an unsuccessful transaction, you need to evaluate the reasons why this transaction was unprofitable. Only then can you proceed to a new order.
I didn't see anyone running away from trading, why would anyone run away, you can decide to not trade and simply stay away from that! And that is OK, trading is not for everyone, risk is not for everyone! It sounds easy, sell the top buy the bottom, but tops and bottoms rarely happen in one day, so you need patience if you wish to trade like that. Daily trading has its own pros and cons, and who doesn't know how to do it will face with more loses than profit. Anyone who wish can try to trade, it's not a big deal, anyone can do it, but not all can make a profit! Some people simply don't like to trade their assets, they invest for long run and it's how they make a profit. On other side you have people who run into trading, big wish to make easy and fast profit, many got burned by their wish! The same can be applied for gambling, there will be people who stay away and people who run into.
Trading is a risky business in general. Trading cryptos is even riskier!
However, many have successfully made loads of money from trading. Some do it by relying on some good signals and market analysis (and I certainly do NOT belong to this group) while others do it by maintaining a strict discipline that minimizes their risk.
On that note, if anybody is interested in practicing some advanced trading in sandbox environments, I'm working on something that may greatly reduce trading risks for the common trader. I've just posted about it, looking for testers for the second phase, here: https://bitcointalksearch.org/topic/traders-needed-for-sandbox-testing-forgotten-crypt-5250243.
However, many have successfully made loads of money from trading. Some do it by relying on some good signals and market analysis (and I certainly do NOT belong to this group) while others do it by maintaining a strict discipline that minimizes their risk.
On that note, if anybody is interested in practicing some advanced trading in sandbox environments, I'm working on something that may greatly reduce trading risks for the common trader. I've just posted about it, looking for testers for the second phase, here: https://bitcointalksearch.org/topic/traders-needed-for-sandbox-testing-forgotten-crypt-5250243.
Because of fear of loss, it is the principle of investment to stop loss in time and stop at the profit point.
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