Mosquitoes sucking you dry?

[Mr_Akbar]

I hate mosquitoes. They eat me alive.

I suspect that my blood tastes delicious... but I swear they fly miles just to find me and irritate me.

In trading, bad habits are like little mosquitoes.

Flying around biting you and bleeding your stack little by little... 💉

Neither of those little blood sucking bastards would be missed if they went the way of the dodo 🦖🎇

Maybe you have a habit of letting your stop loss slide a little wider, or maybe you have the habit of selling too soon - screwing with your risk to reward ratio 🎯

I have a bad habit of wanting to jump into a trade as soon as I start my session, instead of waiting for the best trade to take. 🕗

These stack bleeding little bad habits need to be exterminated!

The most effective bug repellent for bad trading habits is keeping a journal. 📓

Review your trades to uncover bad habits and squash them! 🦠

If you'd like help with your trading, check out Voodoo Crypto.

[leowonderful]

Forming a concrete trading plan also helps you avoid mistakes you might be currently making while trading; this plan doesn't need to be super complex at all, but if you don't deviate from whatever sort of plan you have and execute the plan you devise properly, you'll remove emotions from the picture and you'll likely be making less mistakes than you were before.

As for keeping a journal, they're good not only for reviewing what things you might be doing wrong but also for discovering the things that make a trade good. It takes a bit of time to make a trading journal and actively add information into it, but I would highly suggest making one as well if you don't have one already.

[Kemarit]

Forming a concrete trading plan also helps you avoid mistakes you might be currently making while trading; this plan doesn't need to be super complex at all, but if you don't deviate from whatever sort of plan you have and execute the plan you devise properly, you'll remove emotions from the picture and you'll likely be making less mistakes than you were before.

Yes, I'm also a advocate that you don't need to complicate things regarding your trading. Having a entry and exit plan is very important, minimize your risk and mitigate everything. But it should not be too complicated that you yourself are loss along the way.

As for keeping a journal, they're good not only for reviewing what things you might be doing wrong but also for discovering the things that make a trade good. It takes a bit of time to make a trading journal and actively add information into it, but I would highly suggest making one as well if you don't have one already.

And there is where your journal come into the picture, if you write everything down, you can something to look at and analyze what went wrong in your trading, did you jump into it early and didn't look for other indicators? I'm old school, I have a trading journal besides me and always write down things that probably I will need to correct in the future and be 'successful'.

[Slow death]

I hate mosquitoes. They eat me alive.

in Africa is full of mosquitoes, there are all kinds of mosquitoes from the mosquito (the insect) and the big mosquito (the politicians)

if you can kill the mosquito (the insect) and then think you're finally free? behold you realize that the worst mosquito (the politician) is still alive and sucked all your blood until you have no more strength to live.

back to trade:

we always have a strategy and a plan. in case something goes wrong, we can minimize the losses

[quarkfx]

many of them make rules and don't follow them so do I brake my rules and take trades (anyways no one is perfect) and soon market will put fine for braking rules in the form of loss   

[Lawrenzoo]

I hate mosquitoes. They eat me alive.

in Africa is full of mosquitoes, there are all kinds of mosquitoes from the mosquito (the insect) and the big mosquito (the politicians)

if you can kill the mosquito (the insect) and then think you're finally free? behold you realize that the worst mosquito (the politician) is still alive and sucked all your blood until you have no more strength to live.

back to trade:

we always have a strategy and a plan. in case something goes wrong, we can minimize the losses

I guess there are so many mosquito types that is killing us here in Africa and i think one of them you didn't mention is too much financial responsibilities, and these financial commitment is so high that no matter how much money you make from trading, you will never see it saved in your bank, always go out to solve one or two things everyday.

[Indrawan77]

Jumping in trade without a good preparation could make you missed the market and losing money, stop loss is an important things, many people underestimate this and lose a huge amount of money, trading need a lot of analysis, its not just see the trend and just buy

[el kaka22]

Metaphor is actually good, I don't know why there is that many emojis involved in the OP's post but the metaphor to explain how the mosquitoes could suck you dry and its itchy and doesn't even leave you and not only take something from you but always reminds you of how they took something from you with the bite they left on your body.

Same with crypto trading habits because you not only do a mistake and lose money but you are always thinking about that one mistake you did even after years pass.

I personally still remember the time I bought clam at very cheap (1/100 of what it was right now) and sold way too early because I saw a double profit and took it, don't get me wrong I am happy that I doubled my money but it could have been 100x right now if I kept it. Those things do not leave you and you keep thinking about them forever.

[sana54210]

I hate mosquitoes. They eat me alive.

in Africa is full of mosquitoes, there are all kinds of mosquitoes from the mosquito (the insect) and the big mosquito (the politicians)

if you can kill the mosquito (the insect) and then think you're finally free? behold you realize that the worst mosquito (the politician) is still alive and sucked all your blood until you have no more strength to live.

back to trade:

we always have a strategy and a plan. in case something goes wrong, we can minimize the losses

I guess there are so many mosquito types that is killing us here in Africa and i think one of them you didn't mention is too much financial responsibilities, and these financial commitment is so high that no matter how much money you make from trading, you will never see it saved in your bank, always go out to solve one or two things everyday.

I understand this mate and that could really be a very terrible mosquito right there, but you just need to step up your financial game for you to eliminate this thing eating you deep. If a particular fleet does not work for the mosquito you have around you, what do you do? You buy a stronger one.

This is exactly the strategy you have to apply too to your financial freedom and thank God that one of it is right there in front of you which is cryptocurrency trading, you may not have been maximizing your profit in trading and like op said, there is need to not jump into trade without being really sure and making use of the tools that will help you maximize your trade profit.

[binhvo1505]

I hate mosquitoes. They eat me alive.

I suspect that my blood tastes delicious... but I swear they fly miles just to find me and irritate me.

In trading, bad habits are like little mosquitoes.

Flying around biting you and bleeding your stack little by little... 💉

Neither of those little blood sucking bastards would be missed if they went the way of the dodo 🦖🎇

Maybe you have a habit of letting your stop loss slide a little wider, or maybe you have the habit of selling too soon - screwing with your risk to reward ratio 🎯

I have a bad habit of wanting to jump into a trade as soon as I start my session, instead of waiting for the best trade to take. 🕗

These stack bleeding little bad habits need to be exterminated!

The most effective bug repellent for bad trading habits is keeping a journal. 📓

Review your trades to uncover bad habits and squash them! 🦠

If you'd like help with your trading, check out Voodoo Crypto.

Don't worry too much, because every trader starts with these mistakes. because they always believe it is a cheap price, but they do not appreciate external factors that make that value no longer true.
It is also easy to do that, you need to set up a disciplinary table on how to trade and you need to do it right. Whether it is a loss or a lower profit, you need to feel happy and continue with such a transaction. discipline will make the portfolio more nice. 

[Genkotsu]

mosquitoes in trading, it is funny.
but you right with a bad habbit it will make like mosquitoes that drain your blood little by little.
so we need a good strategy for trading to change our habbit loss to be profit.

[Pursuer]

the problem is not having a good trading plan because of lack of experience so you don't know what to do under different circumstances. the solution is to gain experience by watching the market and analyzing the charts and the movements that we had so far and we are having every day so that you can get a feeling of how the market works, how much unpredictability is involved in it and how to trade. specially when you enter altcoin trading you must make sure to check the charts and try to see the pump and dumps instead of just listening to the hypes that others give you.

so when you say "I have a bad habit of wanting to jump into a trade as soon as I start my session, instead of waiting for the best trade to take" it is because you don't have a plan. for example you should first set some conditions for your entry in an altcoin before jumping in it. conditions like the pumping conditions that are ongoing like the increased volume and the chatter of the pumpers trying hard to pump that shitcoin.

[1Referee]

I personally still remember the time I bought clam at very cheap (1/100 of what it was right now) and sold way too early because I saw a double profit and took it, don't get me wrong I am happy that I doubled my money but it could have been 100x right now if I kept it. Those things do not leave you and you keep thinking about them forever.

Trading can be a bitch some times. I have had a similar experience back in the days when I bought Litecoin at around $2 where not long after that I cashed out 10% higher. I thought I did a good job but I couldn't be more further from the truth. Litecoin pumped so hard that I kept waiting for a correction but it never came.

Noobs are very likely going to be mental losers regardless of the trade outcome. If you buy and the price tanks, you're upset. If you secure profits by cashing out and the price pumps, you're upset too. It's close to impossible for noobs to be satisfied after a trading session unless you have the luck factor on your side.

[iMark]

Jumping in trade without a good preparation could make you missed the market and losing money, stop loss is an important things, many people underestimate this and lose a huge amount of money, trading need a lot of analysis, its not just see the trend and just buy

Not only analysis but you have to be smart in keeping your activities also, in accordance with the plan that you have made, many people have bad habits and that is what usually makes them lose money because they are out of the plan they have done. make sure you have a good preparation, according to plan and don't follow your bad habits dude

[Indamuck]

The real mosquitoes are exchanges because they leech off everyone with trading fees and withdrawl fees.  Would be better if we had more direct peer to peer options so the exchanges couldn't continue to suck us dry.

[bitgolden]

The real mosquitoes are exchanges because they leech off everyone with trading fees and withdrawl fees.  Would be better if we had more direct peer to peer options so the exchanges couldn't continue to suck us dry.

I understand that Centralized exchanges as good as they are, they can really be a pain in the ass when it comes to some fees that they slam on one, and it will just be as if they are the one you are trading for, the worst of them all are the local exchanges where you have to change your crypto into fiat, those ones are just too greedy with their fees and not considerate.

The only exchange I still give kudos to as regards fees is Binance, except we don’t want them to make profit again at all, their trading fee is so low that you will hardly notice you paid any fee on your trade. With time, I am sure DEX exchange will eventually take over with these exorbitant fees of CEX.