Mistakes in trading that lead to loss of money

[xuan87]

Definitely any mistakes that you've done in trading will lead to your losses because in trading you always make sure as soon as you trade something you will get something in return even it's not have you expected but if you trade by mistake and you didn't get anything in return definitely 90% of your transaction will fade and that will be your loss.

Absolutely that is why before we enter into trading method we should sure that we have enough knowledge in this method because trading is not easy to earn money you keep in searching, learning for the coins that have possibility to increase the value. And this is not only about buy and sell.

Knowledge is the best foundation for earning in trading because if you have a lot of knowledge then it will be easy for you to choose coins to trade because you already know the basic fundamentals to check if you are looking for some coin to trade and it will be easy to you to manage risk since you know when is the right time to buy and sell so you don't have to worry about losing money if you have a lot of knowledge.

Knowledge is very important in trading, but experience also very important in trading, knowledge only work in theories for trading but for real practical trading, experience is more important than knowledge, because experience can train and sharpen your analysis skill and increase your intuition for taking decision

[Sled]

Definitely any mistakes that you've done in trading will lead to your losses because in trading you always make sure as soon as you trade something you will get something in return even it's not have you expected but if you trade by mistake and you didn't get anything in return definitely 90% of your transaction will fade and that will be your loss.

Absolutely that is why before we enter into trading method we should sure that we have enough knowledge in this method because trading is not easy to earn money you keep in searching, learning for the coins that have possibility to increase the value. And this is not only about buy and sell.

Knowledge is the best foundation for earning in trading because if you have a lot of knowledge then it will be easy for you to choose coins to trade because you already know the basic fundamentals to check if you are looking for some coin to trade and it will be easy to you to manage risk since you know when is the right time to buy and sell so you don't have to worry about losing money if you have a lot of knowledge.

Knowledge is very important in trading, but experience also very important in trading, knowledge only work in theories for trading but for real practical trading, experience is more important than knowledge, because experience can train and sharpen your analysis skill and increase your intuition for taking decision

Yes those two things are the main concern of a professional trader because that two characteristic will be they key for getting successful trades in our daily performance in trading. If you have those two things then you have a lot of potential in being a professional trader as long as you have those two and you keep on enhancing of your knowledge and keep getting experience from your daily basis.

[deisik]

Definitely any mistakes that you've done in trading will lead to your losses because in trading you always make sure as soon as you trade something you will get something in return even it's not have you expected but if you trade by mistake and you didn't get anything in return definitely 90% of your transaction will fade and that will be your loss.

Absolutely that is why before we enter into trading method we should sure that we have enough knowledge in this method because trading is not easy to earn money you keep in searching, learning for the coins that have possibility to increase the value. And this is not only about buy and sell.

Knowledge is the best foundation for earning in trading because if you have a lot of knowledge then it will be easy for you to choose coins to trade because you already know the basic fundamentals to check if you are looking for some coin to trade and it will be easy to you to manage risk since you know when is the right time to buy and sell so you don't have to worry about losing money if you have a lot of knowledge.

Knowledge is very important in trading, but experience also very important in trading, knowledge only work in theories for trading but for real practical trading, experience is more important than knowledge, because experience can train and sharpen your analysis skill and increase your intuition for taking decision

Experience is knowledge tested and polished in practice

If you just traded for a few years without acquiring knowledge and testing it in real trading, you would get neither experience not knowledge. You would still be basically gambling (if you don't lose all by that time). Obviously, with just theoretical knowledge (which you obtained via, say, books) you will most likely get lost in the markets, and if you trust your instincts (and not the books that you have read), you may back off for some time until you get a little of practice trading small and safe

[Wintersoldier]

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.

Following blindly the market chaos would result in loss.Investing in a new altcoin on just seeing its rapid price rise is not advisable since you dont know when the pump would end and dumping will start.You should have your own targets of profits say 5% or 10% and as soon as you achieve it,just finish the trade.Just expecting the profit to be sky as limit,then you would end up in loss.

Limiting yourself in trading doesn't just helps you to target your expected profit you assume but it is used to protect a trader's captial also. We all know that trading with cryptocurrency coin/altcoin is risky since it volitile. Thus, through limiting yourself in doing trading, a risk can be prevented to harm a trader.

[jossiel]

Well the mistake I made that leads mo to lose of funds is joining  a hype / pump too late.  i though it was just an early bump so I bought the coin without hessitation then I found out, whales are about to dump .  Lol, sometimes acting hasty without thinking is dangerous and can lead us to major losses.

That's bad, you are hoping to earn and join that pump but in the end you are too late for it. I haven't did this mistake but it's very fortunate and I'm sorry about it.

It's dangerous to join a hype pump if you wish to get profit from it because any time it can stop immediately once those starters made profit from it.

But I'm thinking if you just got the exact amount of your investment or you didn't recover from it?

I learned from my experience with those hype and we should think about it many times before joining it.

[Slow death]

Maybe some people should have commented on this, some mistakes that should be avoided:

Do not believe in yobit chat conversation

Dont believe in polo trollbox

I had my lesson.

Last year when I started trading, I put together my money + the little subscription campaign and decided to start holding the trade.

Guess the place where I chose to start making trade? Yobit.

I bought some coins that just fell in value and many turned scam.
I lost all my bitcoin and my precious time

[alyssa85]

Maybe some people should have commented on this, some mistakes that should be avoided:

Do not believe in yobit chat conversation

Dont believe in polo trollbox

I had my lesson.

Last year when I started trading, I put together my money + the little subscription campaign and decided to start holding the trade.

Guess the place where I chose to start making trade? Yobit.

I bought some coins that just fell in value and many turned scam.
I lost all my bitcoin and my precious time

Yes - most coins are shitcoins, and they pump once, the developers cash out, and lots of bagholders are created who have worthless coins.

If you want to trade alts, then stick to the top ten coins by market cap, which will usually survive for several years.

[casinopride]

The mistakes I made while trading in my early days were 1) entering the coin at peak prices
2)panic selling
3)trusting some shitcoins without proper analysis
4)not maintaining strict stoploss

[rcmiranda01]

Being greedy. Small profits are still profits. Whenever you came across with a 10-15% profit, take it.

[Qartada]

Definitely any mistakes that you've done in trading will lead to your losses because in trading you always make sure as soon as you trade something you will get something in return even it's not have you expected but if you trade by mistake and you didn't get anything in return definitely 90% of your transaction will fade and that will be your loss.

Absolutely that is why before we enter into trading method we should sure that we have enough knowledge in this method because trading is not easy to earn money you keep in searching, learning for the coins that have possibility to increase the value. And this is not only about buy and sell.

Knowledge is the best foundation for earning in trading because if you have a lot of knowledge then it will be easy for you to choose coins to trade because you already know the basic fundamentals to check if you are looking for some coin to trade and it will be easy to you to manage risk since you know when is the right time to buy and sell so you don't have to worry about losing money if you have a lot of knowledge.

Knowledge is very important in trading, but experience also very important in trading, knowledge only work in theories for trading but for real practical trading, experience is more important than knowledge, because experience can train and sharpen your analysis skill and increase your intuition for taking decision

Experience is knowledge tested and polished in practice

If you just traded for a few years without acquiring knowledge and testing it in real trading, you would get neither experience not knowledge. You would still be basically gambling (if you don't lose all by that time). Obviously, with just theoretical knowledge (which you obtained via, say, books) you will most likely get lost in the markets, and if you trust your instincts (and not the books that you have read), you may back off for some time until you get a little of practice trading small and safe

I disagree.  Trading for a long time will help you to find out how best to read charts, recognise relevant patterns and more, just from experience (and because you will naturally learn over time).

[alphahacktivist]

mistakes? lets just say i lost 327 bitcoins today because of Poloniex craps... nothing else to say.. absolutely gutted. and i also think polo will gox, took a lot of time to give me my withdrawal. 1h24minutes to be precise.

[Sled]

Being greedy. Small profits are still profits. Whenever you came across with a 10-15% profit, take it.

Yes that is right, when you want to be safe in doing trades then getting those profit from that percentage is a must to follow. When i'm playing with a big capital i always do that because it makes me feel safe and less risk for getting loss and most of the times i still get profit because i got a big capital so even though i just take whether it is 10% or less. I still get big profit.

[stephanirain]

Being greedy. Small profits are still profits. Whenever you came across with a 10-15% profit, take it.

Yes that is right, when you want to be safe in doing trades then getting those profit from that percentage is a must to follow. When i'm playing with a big capital i always do that because it makes me feel safe and less risk for getting loss and most of the times i still get profit because i got a big capital so even though i just take whether it is 10% or less. I still get big profit.

Certainly, when you are playing huge amount of money, take away from huge risk. Just be decent on the small percentage of profit than aiming huge percentage of profit so that the prcentage of risk would be lessen. In my trading, I always limit myself in trading through putting a margin on it.

[bravehearth0319]

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.

Indeed,your right with this things. I think the only mistakes I remembered when I sell the coins and I bought it at 0.00000004BTC then after 1 week holding, it rise up the value at 0.000001BTC, so what I did was I sell all of it but after an hour I think 6 hours the price continue to rise up to 0.000035BTC per coin, it was so sad. 

[lx001]

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.

Indeed,your right with this things. I think the only mistakes I remembered when I sell the coins and I bought it at 0.00000004BTC then after 1 week holding, it rise up the value at 0.000001BTC, so what I did was I sell all of it but after an hour I think 6 hours the price continue to rise up to 0.000035BTC per coin, it was so sad. 

what coin are you talking about? I do not remember anything rising x35 in 6 hours.  you should look with a different perspective. you still did not lose anything, you have actually earned 25x. You can never know when is the exact time to get out. it would be a different story if you had to sell for less than you have paid

[cabron]

I'm not sure what to call this mistake but I bought some Decred when the price hit $20 lol now it drop to almost $10 I lost more than $200 of my money.
I thought its price is going to more more than $50 again just like how DASH did it because DECRED as they said were created by bitcoin developers.

[Victorycoin]

The mistakes I made while trading in my early days were 1) entering the coin at peak prices
2)panic selling
3)trusting some shitcoins without proper analysis
4)not maintaining strict stoploss

It happened to even the best of traders today, but the point is to learn the lessons and move on. Some people never get to get over their initial mistakes, because they give them room to fester their minds, like the ones here eagerly drawing conclusion that trading and gambling are one and same. A fact of life is that any road without obstacles, obviously leads to nowhere.

[pinkpanther03]

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.

Yes that is totally true,  I remembered when I was a newly starter in trading I thought it was like gambling that depending in luck though I know Buy at low then Sell at high but don't know yet how to read the chart/graph in the exchange sites and because of that mindset for not understand well what trading is really all about I lost 0.1BTC, That time greed was came up to me and I bought a coin for a short term then I never know it will be my worst moment which in the end I've loss.

[mining_spaceship]

Well, the biggest mistake in trading is trying to invest without having the proper preparation. The market is full of people who think they are experts, and such people end up losing money to people who really take this job seriously. The rule of thumb is to never invest in what you don't know.

[clickerz]

My recent mistake in trading happened last month. I bought this coin because it has a good margin for short trading. I never check the ANN page, and some updates. Next day this coin was removed and was exchanged with another coin after a week but it never recover.  I lost my btc.