Why people run away from trading!!! - page 2.

bakasabo

legendary

Activity: 2492

Merit: 1215

Quote from: Krislaw on September 20, 2020, 04:05:07 PM

4. Huge Fees

These factor hugely remove the small time-traders from gambling I know some of my friends that are trading for the past years but during these pandemic they are struggling from the fees decreasing their profits and becoming more uninterested from it.

But you pay these "huge fees" only once when you deposit your funds to an exchange. Or it will be correct to say - "transaction fees are high".
While trading fees are relatively low and you pay only 0.1% or less based on your trading amount.

If you have altcoins that worth 5-20$, transaction and trading fees takes a lot. But who trade such with amount right now ? You dont expect to get much profit from even a whole day trading session.

Krislaw

sr. member

Activity: 1204

Merit: 388

4. Huge Fees

These factor hugely remove the small time-traders from gambling I know some of my friends that are trading for the past years but during these pandemic they are struggling from the fees decreasing their profits and becoming more uninterested from it.

kolbalish

member

Activity: 627

Merit: 14

Crypto Article Sharer!!!

Quote from: Gafman on April 21, 2020, 04:49:26 PM

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 advice would be appreciated. Thank You, Stay Home, Stay Safe.

You already pointed out some features which is most likely familiar and very true. Spending all the money to a token is also responsible for making you hero to zero in this game. Because, anything can be happened and you can think it as reverse that means zero to hero. Proper guidelines will help you to encourage to do this. Otherwise, you may lose your hope in early stages.

tippytoes

sr. member

Activity: 1988

Merit: 275

Quote from: Traderbtcc on September 19, 2020, 06:36:10 PM

I would like to contribute to what OP has said
Having a trade journal
As the name implies a trade journal is either a book or an online spreadsheet where you can record all your trades, having a trade journal is a must for every crypto trader, because it plays a vital role in keeping you composed in order for you to trade according to your strategy,having a trade journal helps you to take note of everything you felt and learnt from a trade, thereby helping you to acknowledge your thoughts and emotion triggers behind every trade.

I think, that's too much for me. If you are an active trader, this will be a headache to do. Maybe jot down all your tips and tricks, but recording all your trades? That's not helpful for me. Maybe for others, but this will eat my time. And I don't think it has significant value from my end.

Bitlover10

full member

Activity: 293

Merit: 105

Love is all

Because greedy exchanges makes them liquidation about fund and trader don't have any option. In the present time their is no exchange who think about customer. Everyone only think about fees generate through trading.

Traderbtcc

full member

Activity: 1190

Merit: 123

★Bitvest.io★ Play Plinko or Invest!

I would like to contribute to what OP has said
Having a trade journal
As the name implies a trade journal is either a book or an online spreadsheet where you can record all your trades, having a trade journal is a must for every crypto trader, because it plays a vital role in keeping you composed in order for you to trade according to your strategy,having a trade journal helps you to take note of everything you felt and learnt from a trade, thereby helping you to acknowledge your thoughts and emotion triggers behind every trade.

Zemomtum

full member

Activity: 1316

Merit: 104

CitizenFinance.io

Your points are really okay and most people came with the intention of trading is a place to farm fiat currency, when they are disappointed due to their lack of adequate knowledge, they step back.

peterpanda

full member

Activity: 562

Merit: 100

On your Option, No 1 is the main reason why people are run away from trading. Trading is not so easy what people suppose it. Most of the new people don't know the basic rules of trading. When they lose money continuously, they think trading is not for them. But practically they don't have much idea about trading.

Kamilaz

copper member

Activity: 28

Merit: 0

Quote from: dunfida on April 21, 2020, 05:29:52 PM

Quote from: Gafman on April 21, 2020, 04:49:26 PM

1. Lack Of Proper Trading Education

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.

People tend to forget that experince has value that money can't buy. Investing your time to actually learn about crypto thoroughly is the right way to go

junnar1968

newbie

Activity: 14

Merit: 0

I've been trading Crypto and forext since 2015. My advise is not to put lots of money in your account specially if you don't know how the Cryto trading is. you need to know how and when to trade. you can't trust your guts when trading online it will only leads to loss of your money.

Freddy11

jr. member

Activity: 391

Merit: 1

It is for 2 simple reasons. First is that there is no strategy to work with, which eventually leads into losses. While the 2nd reason is the broker. Fortunately, I have both these parts covered through FreshForex, as it is one of the best broker to work with. It helps big time and allows me to do well.

GhadaAlrubaie

newbie

Activity: 14

Merit: 0

Quote from: dunfida on April 21, 2020, 05:29:52 PM

Quote from: Gafman on April 21, 2020, 04:49:26 PM

1. Lack Of Proper Trading Education

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.

This so important reasons to know before trading and while trading and the most important thing is to be patience Wink

!!

sarmrakib

full member

Activity: 1292

Merit: 101

Vave.com

Those are the best what you explained on the thread .Trading is a tough way to earn money .You need to gather all of your quality to reach the level .I also think you have to be patience ,money management ,risk free trade and don't be greedy as well .You also need to eye on the market always what's going on every seconds .Most of the trader can not control all of those things that's they make loss and stay away from trading.

Gaston Cavalier

newbie

Activity: 14

Merit: 0

I don't. I actually run towards trading cryptos Grin

Well, actually ran from 1 instrument to another . . . . . forex -------> cryptos

It's fantastic!

cosmofly

full member

Activity: 532

Merit: 100

PrimeDAO - An Adoption Engine for Open Finance

In addition, it is another reason that the majority of traders have recognized for me. They say it is an extremely stressful job but also very free. For that reason, they spend all their time trading and when the position opens and the price starts to run, that's when they feel the most pressure. I also tried being a day trader and I couldn't pass the test for 1 week. A job that requires high concentration and always has to keep mentally stable is really difficult for me and a lot of people.

Salauddin1994

member

Activity: 868

Merit: 15

Quote from: azmirihaque on August 26, 2020, 08:40:28 PM

Quote from: Oasisman on April 21, 2020, 06:10:21 PM

One of the main influencer for people to trade is the over exaggerated and over hyped ads. These people thinks trading is easy. After lossing enough from trading, that's the time they give up and start talking sh*t how bad trading in crypto was, when the reality is these people didn't even understand the fundamentals of crypto trading.
What most people needs to acquire and understand in trading is patience and experience.

Those people become over exaggerated who have less experience and knowledge on trade and also has less patience. So I am totally agree with you. For making trade, patients is must required. Then by applying the knowledge and experience in different situation, a person can be a successful trader.

Adequate knowledge is required to trade. They jumped on the bandwagon to make money without knowing about the trade. Having no idea about the market i lost everything and ran away from the trade. Knowledge and ignorance as well as hard work. Making money is as easy as it gets. The opportunity to acquire knowledge as well as plan successful traders.

Bitlover10

full member

Activity: 293

Merit: 105

Love is all

If you are trading then you don't need to much concentration on profit. You may think its weired but profit is not important. Important thing is that how you keep your fund safe and be with market. Profit is secondary things. Profit coming behind your trading skill. You have to know how to manage your fund and safe your capital. For that you need to use proper risk management and research about coin. You need to keep update yourself about market. If you playing safely then earning money through trading is not hard.

azmirihaque

member

Activity: 224

Merit: 16

Quote from: Oasisman on April 21, 2020, 06:10:21 PM

One of the main influencer for people to trade is the over exaggerated and over hyped ads. These people thinks trading is easy. After lossing enough from trading, that's the time they give up and start talking sh*t how bad trading in crypto was, when the reality is these people didn't even understand the fundamentals of crypto trading.
What most people needs to acquire and understand in trading is patience and experience.

Those people become over exaggerated who have less experience and knowledge on trade and also has less patience. So I am totally agree with you. For making trade, patients is must required. Then by applying the knowledge and experience in different situation, a person can be a successful trader.

grizmoblust

sr. member

Activity: 379

Merit: 250

Quote from: bangkecol on August 26, 2020, 03:55:00 AM

Trading is not easy. Some people think that they can be rich quickly by doing trading.
Trading is not easy as that. To get successfull in trading we must learning and understanding about analysis technique.

Trading always requires a sound strategy and is certainly not easy because you will need a lot of time to learn. In the past, I used to lose a lot of money from trading and until now that is still an obsession for me. Now things are different because I always have a good trading strategy and always consider it very carefully when deciding to buy or sell.

lienfaye

hero member

Activity: 3010

Merit: 629

Quote from: bangkecol on August 26, 2020, 03:55:00 AM

Trading is not easy. Some people think that they can be rich quickly by doing trading.
Trading is not easy as that. To get successfull in trading we must learning and understanding about analysis technique.

We need proper knowledge to avoid or lessen the mistakes.
If investors can do this before investing their money then they will understand the nature of trading. There's no easy money here, even pro traders are losing sometimes because its inevitable so its up to us how to manage it to stay longer here because there's a chance to recover if you didnt give up easily.

Topic: Why people run away from trading!!! - page 2. (Read 3140 times)