Bdstar
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May 02, 2018, 05:05:10 AM |
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Excellent discussion you have made here, I totally agree with you on this point. I also think that people usually become finished when they don't have any control over their greed and fear. these two elements are very much important for getting successful anywhere. But without being hopeful, no one can get anything. So i think hope is a vital thing for making a history in your life.
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Kunlejoe0
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May 02, 2018, 05:10:11 AM |
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Regret out of all these factors is the most fatal and if you can not control and delete the negative emotion of regret, it will rob you and blind you to see present opportunities. The past has happened, leave the regret in the past.
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wuvdoll
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May 02, 2018, 07:59:35 AM |
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Failure to Implement Stop-Loss Orders . Stop-loss orders are crucial for trading success, and failure to implement them is one of the worst mistakes that can be made by a novice trader. Tight stop losses generally mean that losses are capped before they become sizable. While there is a risk that a stop order on long positions may be implemented at levels well below those specified if the security gaps lower, the benefits of such orders outweigh this risk. A corollary to this common trading mistake is when a trader cancels a stop order on a losing trade just before it can be triggered, because he or she believes that the security is getting to a point where it will reverse course imminently and enable the trade to still be successful.
In fact that is one thing that sets a real professional trader apart from a noob. Most noobs usually do not have any strategy and all they are looking for is to make some quick decision to buy low and hope to sell high without nothing to look for or to watch out for and in that case, how on earth will they ever know how to set a stop loss. The market is always going to be fluctuating and those who only bet in the market blindly will always suffer for it. I mean we should not trade without reasons. Only our analysis bring more than two strategies confirming a similar thing then only we must go for entering that otherwise just watching must be a good way of trading ![Tongue](https://bitcointalk.org/Smileys/default/tongue.gif) .
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riderinred
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May 02, 2018, 12:36:06 PM |
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I will add for the factors is the emotions. Emotions is the cause why you are greedy in every trade if you have a profit you want to sell directly to prevent from the dump of the price. The emotions is controlling you to will not hold a coin because in your mind it will dump.
I think you misunderstand greed here. Greed means that you want more and more of something. In this case it is money or to be more detailed Bitcoin. So when you see that a trade is green and you could take profit now you think "no I want more profit, I will sell for a 10x" and you do not take profit. Then the coin dumps and is red again. You did not make any money because you did not sell. This is one way greed in trading can hurt you.
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You are your worst enemy and your best ally. I am just some guy with a keyboard.
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Xenrise
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May 02, 2018, 05:26:26 PM |
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These are the things that might affect our trading. These are the things we need to hold more and control. Look at the fear thing, it is the most common of the 4. With fear, it could end us all. I'm trying to confront that kind of attitude. Fear is the most frequent emotion on me.
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Venn Harris
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May 04, 2018, 12:30:15 PM |
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Following the Herd is very dangerous. Another common mistake made by new traders is that they blindly follow the herd, and as a result they may either end up paying too much for hot stocks or may initiate short positions in securities that have already plunged and may be on the verge of turning around. While experienced traders follow the dictum of "the trend is your friend," they are accustomed to exiting trades when they get too crowded. New traders, however, may stay in a trade long after the smart money has moved out of it. Novice traders may also lack the confidence to take a contrarian approach when required.
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jatin729
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May 05, 2018, 12:40:31 PM |
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1. Trust --- In crypto asset we should have trust over particular coin for which we are trading, If you lose your trust then no one can help you to become a loser. 2. Patience --- Before all thing consider you need to have patience if you are in trading regularly because in crypto forecasting does not working at all. Only thing is working patience.For how long to hold funds you are in better size . 3. Govt. Regulation--- Yeah we can't neglect Govt. If you are a trader. similarly we have seen in china when Chinese govt. bans trading exchanges. all trader was in lose and price of crypto had decreased. I don't what to add in 4th anyone has idea? Please share your opinion on it.
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raven7886
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May 05, 2018, 02:31:18 PM |
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The first destroying factor is starting to trade without any knowledge or learning. This is the main thing that gives room for every other negativity such as emotion, making bad decisions and so on, which would always make the trader to always end up in a bad situation most of the time. It is one thing to want to trade, and it is another thing to be dedicated to learning.
Traders never stop learning, and that is what makes them a pro till date. If a trader cannot find time to learn then it would be better quitting trading career. Because, instead of struggling with improper way of trading, it would be better not to trade.
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Rileygss
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May 07, 2018, 02:35:31 AM |
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Excessive Leverage is also a reason. According to a well-known investment cliché, leverage is a double-edged sword, because it can boost returns for profitable trades and exacerbate losses on losing trades. Beginner traders may get dazzled by the degree of leverage they possess, especially in forex trading, but may soon discover that excessive leverage can destroy trading capital in a flash. If leverage of 50:1 is employed – which is not uncommon in retail forex trading – all it takes is a 2% adverse move to wipe out one's capital.
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illnino
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June 02, 2018, 09:09:06 AM |
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Patience is very important, certainly, but I absolutely agree with the author of this thread. I guess that a good trader must be never afraid of some losses, and he should forget the word called GREED.
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s31joemhar
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June 16, 2018, 06:45:35 AM |
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I think the first factor that can destroy you in trading is, if you can’t work under the pressure because trading business put too much effort to function well, next factor if lack of patience in this because you must know how to deal for the changes of the environment of the business, next factor is the easily changing of the amount of the investments because of the law of demand , last factor is you are not confident to what you do, not everyone investors will trust you.
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Genosx
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July 22, 2018, 06:00:20 AM |
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I think the four key factors can destroy your trading is you emotions, family matters or problems, emotional stability and physical health of course, because these factors can easily affect the mind of traders.
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Clark05
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July 22, 2018, 06:18:38 AM |
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This is need to avoid because bad characteristics in trading cannot help you and to the community because for example if you have bad characteristics the trading will be affected on that because the price will change what ever action you make.
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Hatuferu
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https://trueflip.io/
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July 22, 2018, 07:15:45 AM |
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I think the four key factors can destroy your trading is you emotions, family matters or problems, emotional stability and physical health of course, because these factors can easily affect the mind of traders.
Yes.So if you're already in real trading,leave all your negativities because it could only cause destructions rather than attracting profits.You should make your brilliant mind works rather than depending on your emotions because you are trading for profits,not for emotional satisfaction.
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Yocerr
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July 22, 2018, 10:29:44 AM |
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I've just researched this area, have someone guide me, thanks a lot
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Maxpips
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July 22, 2018, 01:06:58 PM |
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See market prices of crypto currency increasingly fluctuate I think there are a lot of traders who suffered losses, and In taking a decision, many traders are still affected by emotions. Fourth factor that's the meaning, of is a type of emotions:
- Greed Almost all traders familiar with the types of emotions, the desire to obtain profit possible in a very short time. Greedy nature incurred due to excessive self-confidence. Usually happens after the trader earn profit in a row. They are not aware or forgot that important fact in trading is not can expect definite results of each trade.
- Fear A sense of fear entered the market usually occur after consecutive losses experienced trader. Fear is basically a natural response so that we can survive in the market. However, excessive fear will make traders lost the opportunity to gain profit. During trader comply with rules risk management and trading plan has been made, he should not be afraid to enter the market.
- Hope Excessive hopes or unrealistic in trading could harm. Hope to always profit often cause traders to not follow trading plan that has been agreed upon.
- Regret Regrets that constantly will destroy trading gradually. Regret usually arise after a trader lost some chances to buy or sell, or after experiencing considerable losses. If it is not quickly resolved, the kind of emotion this would be developed into fear, and in extreme cases could make him leave the world of trading.
To prevent these types of emotions , we should always be aware of whether we're in emotions when trading, because trading with the emotions will only make our trading destroy.
Some good points here. I'd add..... - Anger Can be felt mainly after a big loss, but also after suffering multiple losses in a row. Can cause a trader to drastically increase the amount of coin they buy in an attempt try to make back the money they lost. Can also make a trader to get 'trigger happy' i.e place significantly more trades than they usually would, also to make back what they lost. -Denial Is felt when something happens that isn't in accordance with the traders view of what was supposed to happen. E.g when Bitcoin started to crash lots of traders were in denial because they thought the price was going to rise forever. They couldn't imagine that it would fall after such a huge rise, so when it inevitably did they continued to believe that it would keep rising, even though the 'facts' (the continued decline) suggested the rise was over, at least for the time being. Holding a losing trade open i.e letting the price continue fall below the price you bought some crypto at instead of selling, is caused by denial. People think "the price will eventually rise again, so if I keep holding I can exit with a small loss or tiny profit". But there's no guarantee that will actually happen, and even if it does rise back to the point where they bought, and the trader get a chance to close his/hers trades, it will set a bad precedent, because the trader will then think the same thing will happen in the future. So the next time he has a losing trade open he will assume the price will eventually rise again and give him a chance of closing at a small profit or loss, just like it did before. The problem is that may not happen, in which case, the trader will continue holding the trade open, having the loss grow bigger and bigger until eventually they lose all of their money.
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ClaudiaBiddlecombe
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July 22, 2018, 02:55:06 PM |
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All factors above come from our mind. So I think if we believe that we can get coins, we can make the effort to get over it. Try your best!!!
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GDragon
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July 22, 2018, 02:55:25 PM |
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To concise, one of the most factor of it that can kill your trading is your emotions mate. You can't deny how much emotion you'd always inputted when you are in the middle of worse or success. According to majority of trader, Controlling emotion can be one the key to achieve your goal. I wish you all the best and also wish me luck!
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helpswish
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July 22, 2018, 03:05:39 PM |
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I think in trading it is important to recognize mistakes and draw the right conclusions, be able to give up non-working things. Emotional components are very many, but the logic is the best trader's assistant
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cryptoteen
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July 22, 2018, 03:28:51 PM |
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Traders generally buy and sell securities more frequently and hold positions for much shorter periods than investors. Such frequent trading and shorter holding periods can result in mistakes that can wipe out a new trader's investing capital quickly. One of the defining characteristics of successful traders is their ability to take a small loss quickly if a trade is not working out and move on to the next trade idea. Unsuccessful traders, on the other hand, get paralyzed if a trade goes against them.
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