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Let's be brutally honest for a minute. Before we learned about risk management and realistic expectations (usually by losing a painful amount of money), we were all a little bit insane.

We all had that one beautifully stupid belief that we thought was our ticket to a Lambo.

Maybe you thought you'd found the "one weird trick" indicator that was never wrong. Maybe you believed you could turn $100 into $100,000 in a month, easy. Or my personal favorite: thinking you could just copy some influencer's trades without any of the risk.

So, let's air it out. What was the most idiotic, unhinged, completely delusional thing you truly believed about trading when you were a rookie?

I’m winning for a month with a daily profit around 100$ to 200$ that time using same strategy for using indicators and patterns on my trading.

Until I suddenly get cocky on investing to high risk altcoins since I thought I can predict the outcome with my strategy. The result didn’t go well while I keep trying to repeat same process on different altcoin that completely break my profit and losses my capital.

I’m regretful that I become greedy despite having steady income from my strategy. It’s just weird that I can’t repeat that good run despite using same strategy and patterns on same coin before.

I joined trading through a company that claim to be trading yet they were into MLM. They employed many good and popular professional speakers who package great speeches about finance and how trading can change our lives within a year. It was after joining and burning one or two accounts and even lost the ability to renew my subscription that my eyes opened to the reality that I was involved in trading through a wrong platform, through people that were interested in the subscription as they were never trading. At those early stages, I was brainwashed to believe that I was going to achieve financial freedom at a very young age. I was just lucky to resist the urge of ditching my career to pursue fell time trading MLM ambition.

Aside from thinking that trading will make me rich quick, I also thought that if I can make profits on my first trading experiences, that’s good to show that I will be making trading profits consistently. Until I realized that it’s more risky in trading, as you might end up losing a lot than winning a good amount.

And the fact that if you’re being profitable in the beginning doesn’t guarantee that you’ll still be profitable in your next trades. There’s always uncertainty in trading, especially if the market moves totally opposite from what you expected it to be.

Everyone that is really into trading have such weird believe which never turned out to be so. As for me, I knew something so profitable like this and life changing opportunity can’t be that easy and I needed to focus and learn very well to become a profitable trader. One thing I had believe in was that I won’t take much time, not taking up to two years to become profitable.

But after studying well and had to be trading actively, using proper risk management also, I got to realise why people take longer time to become profitable in trading. It is not easy even though the successful traders all claimed they had passed through this stage once before becoming profitable. I am not seeing it as a must for me, I am not rushing into it like before and don’t mind how long it will take to become profitable. If it happens, so be it and if it doesn’t happen, I should on to my other sources while not risking too much into trading.

All traders often hold the delusional belief that before we start trading, we all hope to make a profit, and that's the mindset we have when we're new to trading.  Every time I engaged in trading, this thought was in my mind, to make a profit.  Unfortunately, I didn't succeed, and all my deposits were quickly wiped out in just one session.  
Despite that belief, it was positive thinking that encouraged traders to explore more ways to achieve successful trading based on the books I’ve read.  It instilled a sense of guts and courage in trading.

Eventually, I realized that trading isn't for everyone, and it certainly isn't for me.
So, I stopped trading and switched to holding and investing more to reduce risk.

Basically, the purpose of a trader chooses to trade because he thinks he can make the most profit in the shortest possible time, without realizing that on the other hand there is such a thing as trading risk and this is relatively large for traders who trade in the short term.

My experience as a trader lies in thinking wrong, thinking trading is the way to instant wealth without being equipped with adequate knowledge, even though if we know the job of being a trader is one of the hardest in the world, proving how difficult this industry is. I even at the beginning of becoming a trader often bought VIP signals, attended paid classes to just get training and trading ebooks, even once bought entrusted funds to professional traders (he said) but in the end instead of profit instead of profit, profit cannot be, capital is lost, the lesson that can be taken is to first learn about what is a trading plan, trading strategy, money management, including trading psychology also affects the market, then do a backtest, so that when it has been tested profitabla then you can start trading, even then it is recommended with small capital first.

I believed that I could be a master in trading in just six months, and although I learned a lot in six months, I quickly figured out that there was more to learn, that in fact, learning to trade properly required you to commit for an extended period to learning. Many people do not stick around long enough for that, that is, to learn to trade, because they do not give themselves enough time.

They are holding on to the delusion that they can become masters or superior traders in just six months. If you are new to trading, give yourself time.

Back when I first got into trading, I really believed I could turn a tiny amount of money into a fortune overnight, pure hype hahaha. I thought I had found a "magic" method that never failed. I even copied trades from random people or group online thinking it would work without understand the risks at all.

I think that was possible, all through the name of luck, like we suddenly saw a meme coin that is about to burst into flames. And when you say a method that never fails, it can mean that you have been into a point where you earn a consistent profit? That's great but unfortunately, a disaster then came when you think increasing the amount that you risk is a good idea to earn more.

Usually, that is what screws us. Last is copy-trading. It does work if we know which traders are performing well. Even without adequate knowledge, some platforms can still be user-friendly to include a winning percentage in each of their traders. The risk is, we can lose, the same when we do trading alone.

Not really possible with small amount. I have the same belief when I started Forex and then lost my only money left in my account. Not surprising said the veterans in the Forex forum.

They suggest Bitcoin to me and found my way to earn some BTC. I still have the belief in trading just $200 will make me earn $20 a day in trading. Its not possible because the market ain't making it easy.

As much as trading is open for everyone, but not everyone may turn successful with trading. That may be the reason why a lot aimed to trade and dream of large profits but only to find out in the end only few last in trading. Even myself I don’t trade a lot, not because I don’t want to maximize my losses, but because I know the fact that trading requires higher risk, and if you can’t deal with it, you will surely end up with huge losses.

After all, trading isn’t a do or die. We can still focus on buying and hodling itself and still be able to maximize the profits.

Many, OP. So many. Especially when you are young I think your brain maturity is simply just nowhere near realistic and you look back and wonder what the hell type of person you were :)

One really long delusion I had was in forex was those currency pairs where you had overnight interest. As long as your order is placed and never closed, you keep earning overnight interest. I thought wow, this is a slow but sure thing.

And sure enough I racked up cents and cents of interest lol and even made profit on some esp pairs versus JPY which was like almost near zero % rate for such a long time.

Then also sure enough those currencies with high interest rates lose value in long term anyway and you get RIP.

Well depends on coin or tokens you bought. I am able to gain buying $200 worth of public sale token of avalanche around September 2019 and sold that at $40k during bull run last 2021. Didnt catch the highest peak but the price I sold was still $100 from an entry of $0.5 per tokens.

So having some firm believed on potential of other tokens wouldnt be impossible. Yeah it seems delusional but if you know which will be good then it turns out to be a reality.

When you are newbies, you can start trading and think you are a genius trader in this market. It is a first terrible mistake and next ones are: use all money you have for trading, make loan for trading, trade with leverages or futures type, and say no with Stop loss order in your trading.

All of those mistakes are very popular among newbies while they actually should not trade and must use stop loss order to defend their initial trading capital as best as possible.

One of best weapons in trading. (https://bitcointalk.org/index.php?topic=5173189)

That I could quit my job and become a professional day-trader within two years with a small amount of starting capital.

  https://cdn.imgchest.com/files/6yxkca3aae7.jpeg

I later learned that I was a mere statistic. A mere part of the 90% that WILL lose money in "trading" because, how could pelbs like us truly outperform those professional traders who have more skills, more capital, and their army of trading bots.

I discourage everyone from "trading", I encourage everyone to merely Buy the Bitcoin DIP, and HODL. But if you want to try it, OK. 8)

When I first became interested in learning about crypto and saw people succeeding in crypto, I thought that investing in crypto was a quick way to get rich. However, after getting involved in the crypto world, it turned out not to be in accordance with reality, even at that time I was still confident to continue learning and learning in the hope of becoming a successful trader but in the end I couldn't do that.

Entering the crypto world makes us fantasize or imagine various things, for some reason I didn't understand at that time. I always convinced myself that in one year I could be successful in trading, in reality it was not as easy as I thought and not as easy as other people said. The crypto world requires caution, patience, and continuous learning because the market is difficult to predict. Beliefs like this, I think everyone must have experienced it, it's the same as when we first played jdui with the hope of getting a jackpot right away. For me, there is no problem with this kind of delusion, the important thing is that every mistake or not in accordance with reality must be used as an experience for the future.

So at the time that i have in mind on the first days on becoming a trader not only on crypto space but also when i have started on forex.

1. Making $10k per month on having just that $100 capital.
2. Could be able to make that money with just few trades.
3. Setting out Technical indicators with ease and be able to read it up easily and place trades.
4. Could read up on the market direction without having any effort
5. Learning up the skill in just that 7 days and consider out myself as a professional.
and lastly.. becoming that rich in no time...

Whenever you do see those gains or those individuals who do made out some good amount of PNL's online, then you would be having normally that kind of boost up. You will be having those thoughts that
If those people could be able to do so then why cant you? Due to that kind of urge then you would be starting out to make up some engagement just because you do want to justify into the things that you do have in mind and trying out to deal up with the market. On the time that you had stepped your foot into this space then gradually you would be able to realize that it was never been that easy on the first place. Those delusional approach that you do have earlier you would replaced by something those realizations and would be opening up your eyes that it was never been that simple in the first place. There are those conditions or times that you would be needing up to look out and if you do want to survive into this market then it will be basing up into the actions that you would be gonna taking on which of course it will be reflecting out on how deep is your knowledge into this space.

I will not lie; I don't expect any unrealistic return from the trading. For holding, I expect at least to make double. Holding is different from trading; I hold for quite longer either Bitcoin or altcoins. During trading, whenever I have at least 10% profits, I intend to take out my profits. That's how, actually, I missed the bull train a couple of times in my trading life. If I were intending to make more money, like a couple of x, then I could make double at least. But as I said, I don't expect too much from the trading.

We shouldn't dream of something which looks unrealistic at all. If you become so greedy, then you can't make money. When you expect many more profits, then you may not sell at the right time. As a result, you will miss the profits, which should be as usual. Trading doesn't mean to make you quick rich; if you expect that, then your dream will be just a dream.

So funny seeing that someone actually had the same thoughts I had back then, at that time I was not working yet but was still running a program, I even said that if I can just perfect my trading skill and become so profitable like the big boys I saw on social media then, that I was not going to even look for a job to work for another person but would rather start my own company in a big way. Funny how it didn't go as planned because trading is not easy man.

Almost every beginner has this optimism at their beginning stages that they are going to hit a trade that would be life changing in a short while but after sometime they begin to see how slow the journey is to become successful. Trading can be very challenging but the results will always pay off in the end if you are patient and hardworking enough to earn it. I have learnt to take it slow and enjoy the journey

Since the beginning of the era of trading and how I've heard people talk about trading, the mindset I carried at that moment was thinking trading is a quick money making scheme where you start up with some figures and in no time you'll start getting results. But little did I know it was so different from this and I remember bragging with some friends on how to do this and that just few days after I started my trading journey but all of a sudden everything was out in my eyes and that's how I got to know the main truth about it.

Before starting the trading platform, I felt that I would make a lot of money from it and change my life a lot. In fact, such thoughts happen to those who enter a new situation, and this is exactly what happened to me. I started trading altcoins to get more, which is why I have been losing money in my trading so far. Moreover, I thought the trading platform was a good and easy way to earn money in a new situation, which is why I was more greedy here, hoping to make money very quickly, but in the end, I realized that what I was thinking and thinking was completely wrong. However, at the beginning of my trading life, I had such misleading and foolish thoughts, which I now understand.

Honestly, I even think of not finding a stable job anymore and just focus on trading where the income is much higher. I though that if I have the skills and the perfect strategies every time I trade, then I won’t have to lose anymore. But unfortunately, even if you are a veteran trader, losses are sometimes inevitable.

That made me realize that there’s no guarantees and sustainability from trading alone. You need to find a real job that will give you a regular and sustainable income, and just treat trading as a side hustle, that way even if you lose a significant amount, you will not end up so frustrated knowing you have your own job that will provide consistent income for you.

You are just lucky that you find your footing in trading. However, you need to consider also your retirement plans. Because some people are still getting a stable job so someone can pay for their retirement. However, if you are indeed doing good in trading, you can already take care of your retirement. At the end of the day, it is still on you how you will decide for yourself.

The most dilussional belief I had then was that the so called mentors and influencers were able to get rich through trading with small amount, I hard this believe that what this influencers showed on the social media were actually true trading if learnt well is the easiest way out of poverty.

I also had this belief that the cryptocurrency trading is something that can be mastered and I had the belief that once you hack it and get a strategy you can simply trade and wouldn’t lose again, I never believed losing isn’t inevitable.

I had this belief that copy trading and buying signals are profitable

I don't know if this is considered as "idiotic", or "delusional", but this is one of the beliefs that I held for quite some time.
"THE MORE TRADES, THE BETTER"

I really thought at that time that if you will make around 10-20 trades per day, your chances of making money would increase as well. Sure, there's a chance, but that would cause you a big headache, and at some point, you will make unnecessary and some stupid decisions along the way. Since you want to make at least 10 trades per day, you will make forced trades which will cause you to lose money because there hasn't any strategy involved on that trade. I made 10-20 trades per day (scalping) for around 2-3 weeks, and in those 2-3 weeks, I end up losing more money mostly because of trading fees.

As for what OP has shared, copying other trader's trades is a double-edged sword because like most traders, they're losing money as well... at least in the short term. If you want to copy-trade, you should think of long-term. At least that's what I observed since I've tried copy-trading as well. :D

When I used to do margin trading years ago, I would take trades based on events shown on coinmarketcal — you look at an event for any prominent coin and take your trades a week prior, and it would be pretty much guaranteed that you would make a profit in trades taken.

That worked well until it didn't, it took me a while to realize that how much market trend mattered in these trades, the 'event based trading' as I like to call it, doesn't work well all the time and especially when market is in downtrend.

When im still a noob then i have passed through this one on which i have been thinking that its impossible that all of the trades that you have done on which that there's isnt one to become profitable on which this kind of belief did cause up that huge amount of money because i have been that rushing up on making decisions on investing or trading into something and since I dont like on getting left behind then you would be thinking about on executing multiple trades and just wanting to catch up everything even though you havent been able to put up some analysis into it then this is where issues do really start. We do know that having that trades on higher quantity is useless if those doesnt have quality in the first place. It would be always be beaten up by those trades on which you have applied in depth analysis or simply the quality of trade is much more better rather than on having tons but all of those are just that trying out to catch a good one.

Although there's no assurance that even with those quality trades on which you cant be able to tell that it is a good one on which we know that this market is that very random and speculative. There's no way that we can be able to predict on whats ahead. On the moment that you would be able to obtain experience then you would be able to make out such realizations. For me when i have been started up on trading then i have those thoughts that it was just that easy skills to be learnt of on which you would be that be able to handle yourself at the time you do make up trades but you would be able to realize that it will be the opposite. There are just that those conditions on which that would be opening up your eyes on whats the truth in behind to deal up with this volatile space. You would be needing to be versatile as much as possible and be able to adjust accordingly on various conditions or situations.

You're a more delusional pleb than I am. Haha. But it's probably just normal if a person is still young. We can have dreams, but because our dream involves risking our own SAVINGS, then it's absolutely better for plebs like us to accept the fact that most of us should stop gambling with our savings at the earliest possible moment, AND start buying the DIP and HODL.

When I started trading, I had this belief that if I follow the trades of some of the the popular traders on social media that I won't lose because they aren't losing and that's what's making them to be as rich as they present their wealth on social media. I didn't know that most of the online tradesrs aren't doing what they're claiming to be doing but having a business of being influencer on social media for the exchange or cryptocurrency projects. You can't follow random people and be expecting to be successful as a trader. Trading is interesting when you're practically involve in all the decisions you're taking from analysis of the market to executing your trades.

As a new trader coming into the trading space, you would have set up some kind of goals you want to achieve and the time you wish to achieve them, but conditions of the trading market will make you to continue to adjust them and eventually make you just play by the market. There was a time I thought going for a signal group will make me a lot of money at trading to reach my goal faster and even though I got the signals, I still end up losing my capital and never got back the money for the subscription. There is more to all this things we just see and think we can make money easily from. If it was that easy, everyone is smart and would have made riches through trading than the losses we get to see people end up with.

I guess that’s how it should be. You shouldn’t expect too much from trading and later on get upset because what’s supposed to be your plan isn’t working at all. I believe all of us have that mindset in the very beginning, that trading will give us impressive profits constantly, that trading is just a matter of skills and strategies development, but it’s more than than.

Emotions are always tested, and if you aren’t good at managing it, you will surely end up at the losing end. That’s why a lot started with trading, but only few end up as real and successful traders.

This is so hilarious honestly cause on my first ride on trading there we're different thoughts that crept in that I believed I would achieve in just the few periods I began. But one of which I can't really forget is thinking that starting my trading journey is easy and i can make a whole lots of money  so quick within a short period of time, but days went through months and a year I wasn't progressing rather it was loses vs loses then I shifted my mindset about wanting to just earn in no time to learning from every outcome i get.

Can generate income to finance daily life, so this is like a main job even with little knowledge, because thinking trading is easy, buying low and selling high.
Slowly realizing this is difficult, until trading signal groups start to appear and think again this is the easiest way to generate income in trading, and also finally realize it is not as easy as imagined.

Trading can generate income if we are very serious about continuing to learn, but if we think of shortcuts such as following trading signals, this will result in losses.

I believe that, plebs like us calling ourselves "traders" is the other part of the problem. WE are NOT traders. WE are PLEBS at the BOTTOM of the Bitcoin investment ecology. BUT that does that mean we don't have a chance? I believe not. We could front-run those people who are better than us in trading buy Buying the DIP, and HODL because many of them can't outperform the asset that we HODL - Bitcoin. Therefore WE win!

It is not even about being optimistic as a new trader but what really triggered us to go into trading in search of opportunity to make extra money from the crypto market. There are some newbies that jumped into trading just because they saw fake influencers posting their results on social media, getting motivated by it with the mindset that they could make a lot of money from trading.

TBH, at some point in my trading journey, I also thought of quitting my job because I'm winning consecutive times in trading. Good thing that I didn't because a few weeks after constant profits are losses here and there. :D

Every trader are thinking unrealistic things if they want to be a successful trader. On average, those who're constantly trading for 5 years have almost 95% chance of being a successful one. Of course, there are some factors to it, but that's the average. Now it doesn't mean that if you're trading for 5 years, there's a certainty that you will be a successful one.

It's just sad to see that 9 out of 10 traders are ending up losing money, and their losses are going to those 10% of the traders, but that's how brutal the trading world is. If you aren't ready to take losses, I hope that you will follow what he said. I disagree though with discouraging everybody from trading, but I would encourage them to experience it, and from there, let them decide if they will continue or not. :D

When I once learned about those people who went into trading in companies or squads, I did not understand that only a few of these huge numbers of people would "survive." Yes, I saw a lot of tutorials on YouTube; moreover, I saw paid channels on Telegram, after which I thought that if I invested some money in training, I would succeed. I did not become a trader; my friends stopped me, telling me about their experience, about those losses and the disappointments of those people who, like me, thought that everything was very simple. Even one person who managed to get something from trading always says that it is comparable to swimming on an ice floe; you seem to be able to do everything and understand everything, and at one moment everything disappears from under your feet. You need to be very psychologically patient and prepared to start over every time you lose.

Well to be sincere I have never had such delusional belief or thinking that trading is an easy way to success even though there are people who had such mentality I have never because I know it's so volatile and one can lose at any given time while trading, also can lose as well while copying someone trade. To me, it would be better I focused on accumulation (DCA) than entirely based on trading, though there are possibilities of making xx profits while trading and this dependent on the kind of trading we are involving ourselves, trading, gambling are having the same risk effects when not properly analyzed before jumping into any of them.