Mistakes in trading that lead to loss of money

[pooya87]

the most common mistake in trading is listening to FUDsters and shills. and their numbers are big, and they are everywhere.

if you look at the history of these people you can always figure it out easily about the real reason behind their comments.

[mace15]

My big mistakes in trading that lead to loss of money
is that wrong decision to sell coins. When I bought
the coins at a higher price and selling it at the lower
price. Bad strategy, wrong decision making that leads
me of loss of money in trading.

[ipanks]

My big mistakes in trading that lead to loss of money
is that wrong decision to sell coins. When I bought
the coins at a higher price and selling it at the lower
price. Bad strategy, wrong decision making that leads
me of loss of money in trading.

me too, i have this situations and have experience. i make cut loss my altcoin because i think the price is not going up, but after i see in about 2 hours, i realize that the price is going up by slowly, from that i am regret it that i sell it too fast so i can not make profit.

[th3nolo]

1.-Don't research about trading when I started.
2.-Don't look for values like RSI.
3.-Don't reads new about the assets i'm currently trading.
4.-Think you know everything.
5.-Coming to late in an trade.
6.-Selling too fast.

[n691309]

Your mistake/s in trading that leads to loss of money
I think it will be the best to share your story so that we can avoid your past mistakes.

One of the common mistake that I made in the past is by putting buy order when the price of that coin is unstable and I went to bed and when I woke up next day the price got dumped and I had no choice rather than selling and take a good lesson.

[Rostadom]

Most of the newbies out there have the same mistakes. One of those common mistakes is thinking that short trading is always possible. Maybe a newbie experienced once that he bought a coin and then after a couple of minutes, the price of that coin has pumped and so he gained some profits. Just because it happened once, doesn't mean that it will happen very often.

Newbies tend to be very impatient when starting out in trading. They think that after a couple of minutes or hours, the price of an altcoin will pump. In reality, the price of an altcoin can become stable and wait for days before it pumps. Some coins even if they don't have a 1 satoshi price can be dead in no time. Those coins don't have any seller or buyer that's why it doesn't move anymore. It can be considered as a dead coin too.

[capoeira]

most common mistake is to not go out of a losing position and hoping for it to turn in your favor, even if there is nothing that indicates it will turn

Waiting the bad prices out could potentially work out at the end of the day for bitcoin or, for example, physical gold or other assets which are known to get more expensive over time

that might be (almost) true for gold, but Bitcoin is high risk in long term.
I highly doubt that anyone who bought at $1200 in 11/2013 still has the coins (to make the most extreme example). and even if you bought at $1200 and it realy will have a new ATH, you still had your money frozen for years = unusable

In fact, gold is as risky an investment as any other commodity investment out there (other precious metals, before all). It seems that we are still below the inflation-adjusted ATH of the early 1980s:

intresting. If you don't live in the US you also have to take into account your currency against the $

[Viyamore]

1.-Don't research about trading when I started.
2.-Don't look for values like RSI.
3.-Don't reads new about the assets i'm currently trading.
4.-Think you know everything.
5.-Coming to late in an trade.
6.-Selling too fast.

Atleast you recognize what your mistakes are ,therefore i will congratulate you why? Because you've actually learn and you identify your mistakes so i guess in the next trades you will don't do that or you will improve your knowledge on trading .

I think there's no coming late in a trade maybe you're late but the current situation is how will you adopt or find another coin rather to go on flow.

[ethereumhunter]

1.-Don't research about trading when I started.
2.-Don't look for values like RSI.
3.-Don't reads new about the assets i'm currently trading.
4.-Think you know everything.
5.-Coming to late in an trade.
6.-Selling too fast.

Atleast you recognize what your mistakes are ,therefore i will congratulate you why? Because you've actually learn and you identify your mistakes so i guess in the next trades you will don't do that or you will improve your knowledge on trading .

I think there's no coming late in a trade maybe you're late but the current situation is how will you adopt or find another coin rather to go on flow.

from that list, i hope i can learn from my mistakes and fix my mistakes so my mistakes will reduce for future and i can learn again about trading. for the mistakes i've made, i think its a worth lesson for me so i won't do it the same thing in the future.

[wintermeasures]

Your mistake/s in trading that leads to loss of money
I think it will be the best to share your story so that we can avoid your past mistakes.

The Main Mistake I Made In Trading When I Was a Newbie That I Bought Some Altcoins Without Having Knowledge About the Altcoins And Then The Next Day The Altcoins Dropped And I Made a Big Loss.....
This Was My Only Mistake In Trading But After That Mistake I Do Trading Carefully And Making Profits......

[ArdiPrabowo]

Your mistake/s in trading that leads to loss of money
I think it will be the best to share your story so that we can avoid your past mistakes.

if you mistake and wrong prediction about price in trading
you can use martiangle stratagy, or you savety you can use averaging strategy
and you can calcualte in price to BEP or take profit, this automatic calulate you can use indicator

[Fatanut]

I am sure that a lot of traders have experienced this before but it doesn't happen frequently. The buy orders and the sell orders are written in the format of 0.00000x. It's no wonder why we accidentally remove a zero and end up selling or buying 10x than we actually wanted. This only happens to those that have enough balance in they account, though.

10x than what you wanted is a really huge difference. If the market goes down, imagine how much money you would lose. Also, if you sell it right away, with just the transaction fees, you lost some money already.

[Dassi]

I have not started trading, still testing the waters. I'm thinking of doing some margin trading but still waiting for the green light, the alts have been fairly stable of recent.

[icecube45]

I have not started trading, still testing the waters. I'm thinking of doing some margin trading but still waiting for the green light, the alts have been fairly stable of recent.

Yes your steps very precisely. You have to wait for the right time to start a trade order not to experience losses. Continue to concentrate on trade because if you make a mistake and the wrong strategy will be a loss.

[tee-rex]

I am sure that a lot of traders have experienced this before but it doesn't happen frequently. The buy orders and the sell orders are written in the format of 0.00000x. It's no wonder why we accidentally remove a zero and end up selling or buying 10x than we actually wanted. This only happens to those that have enough balance in they account, though.

10x than what you wanted is a really huge difference. If the market goes down, imagine how much money you would lose. Also, if you sell it right away, with just the transaction fees, you lost some money already.

Methinks, you are confusing something here. Since almost all coins cost less than 1 Bitcoin per coin, and most of them cost substantially less than that (for example, 1 Bitcoin is worth around 2703000 Doges right now), you will almost always be buying hundreds or thousands of such coins. It seems that you refer to the price which is in the format of 0.00000x, but in this case even if you remove zeros, you will still buy or sell at the current market price.

[Docnaster]

Tbh , Im always excited when it comes of buying alternative coins and i don't really studies more about it , And after buying that coins i really don't know what next im i going to do , Because the price of that coins is really not good so i decided to resell it in more cheaper amount of bitcoin thats why i quit on trading already because i don't have enough knowledge in trading.

[deisik]

most common mistake is to not go out of a losing position and hoping for it to turn in your favor, even if there is nothing that indicates it will turn

Waiting the bad prices out could potentially work out at the end of the day for bitcoin or, for example, physical gold or other assets which are known to get more expensive over time

that might be (almost) true for gold, but Bitcoin is high risk in long term.
I highly doubt that anyone who bought at $1200 in 11/2013 still has the coins (to make the most extreme example). and even if you bought at $1200 and it realy will have a new ATH, you still had your money frozen for years = unusable

In fact, gold is as risky an investment as any other commodity investment out there (other precious metals, before all). It seems that we are still below the inflation-adjusted ATH of the early 1980s:

intresting. If you don't live in the US you also have to take into account your currency against the $

Right. And I don't think that any other major currency out there would stand fast against the US dollar in the long run. The Chinese yuan has been constantly devalued by the Central bank of China during the last years (and before that it was out of the question completely). The British pound cost twice as much against the dollar just a decade ago and now it is heading straight to parity (and most likely below that). The euro looks more like a bad joke today, probably collapsing in a couple of years following the EU disintegration...

Perhaps, only the Swiss franc more or less cuts it against the American dollar

[Golftech]

Tbh , Im always excited when it comes of buying alternative coins and i don't really studies more about it , And after buying that coins i really don't know what next im i going to do , Because the price of that coins is really not good so i decided to resell it in more cheaper amount of bitcoin thats why i quit on trading already because i don't have enough knowledge in trading.

that's the problem there mate never invest to something that you don't understand, always make some research before placing position. to avoid busting your capital.

[erikalui]

My mistakes while trading:

1. Not using a demo account for a week and trading in a live account after just 2 days of using a demo account.
2. Not using technical analysis and expert opinions.
3. Not having a plan or cut off profit amount (not setting a TP/SL amount).
4. Not keeping account of my trades (initially) and checking the price chart.
5. Panic selling (considering it was the first time I was trading and had little to no knowledge about the price of currency pairs/bitcoins).


It's not that I don't make mistakes now but the above ones were some mistakes that I could have avoided if I had spent time in analysing my trades and the price charts.

[YTBitcoin]

My mistake was to invest in FWRC and the decision to store them for longer, its price was much better and I bought it at 1000 sat and after that it increased triple but I did not consider that time to sell and wait for longer and now you are seeing that it is much lower and the developers are much lazy to work for it.