Common Errors of Trading

[Kunlejoe0]

Error will be made and trade will be won, what matter most is we keep learning and improving to better than the last trade we made. Cryptocurrency success is a journey not an 100meter dash!

[1713533146]

1713533146

[Raiwenkai]

I think common errors for trading are mostly for a newbie these are:  getting panic, cannot control their emotions, do not have a plan, afraid of risk.

[lixer]

Here are some interesting facts about trading I stumbled across from CryptoCred which I think may be helpful
Common error to avoid when you day trade, I modified some to reflect my own opinion.

1. Revenge trading, trying to get back a trade that has been lost or chasing a trade.

2. Never using a Stop

3. Not having a plan (Risk/Entry/Exit/Stop)

4. Not sticking to your plan

5. Greed — risking too much/not taking profit

6. Being too emotional about a trade.

Plug these equity drains & increase your odds of being profitable.
 You could add to the list and make better trades

Yes almost all the points you mentioned were common mistakes made by the trades even if they are experienced enough.But they also have to learn themselves to avoid these mistakes to make more profits,most important thing is not having a strategy or plan will leads to other errors.

Mistakes aren’t bad. They are for our motivation and learning hub. Those who learn from their mistakes must understand that their professional life would be amazing. They are students of teacher that is greatest of all the materiality approach elements. Mistakes have got hidden instructions that if would extracted out, must be fantastic for the learner throughout his life.

[dario.93]

It is always a challenge to stick up with your plan and you're rules while trading, because this is the thing that you will usually tend to just go and leave it by herself how it flows, and without a control it can just turn out to be a chaos.

[TheNotoriouss]

I think emotions could make or break 80% of traders, so this is essential 6)  I prefer ICO investing, and found cool project - Kelvin Blockchain, this is interesting upcoming ICO, learn about this one, and give me answer what projects are you looking at?)

[oriontab]

Error will be made and trade will be won, what matter most is we keep learning and improving to better than the last trade we made. Cryptocurrency success is a journey not an 100meter dash!

The errors or mistakes are learning points for all, even for the most experienced trader, there is no such thing as being perfect in trading, becoming better with each trade is the goal

[Appleanimal]

Here are some interesting facts about trading I stumbled across from CryptoCred which I think may be helpful
Common error to avoid when you day trade, I modified some to reflect my own opinion.

1. Revenge trading, trying to get back a trade that has been lost or chasing a trade.

2. Never using a Stop

3. Not having a plan (Risk/Entry/Exit/Stop)

4. Not sticking to your plan

5. Greed — risking too much/not taking profit

6. Being too emotional about a trade.

Plug these equity drains & increase your odds of being profitable.
 You could add to the list and make better trades

Thank you for good points ,
Most important is to be patience and  not to be greedy .

[Grimjule]

It is always a challenge to stick up with your plan and you're rules while trading, because this is the thing that you will usually tend to just go and leave it by herself how it flows, and without a control it can just turn out to be a chaos.

Yes that is correct people even after making good strategies they do not follow it, which in fact some time cause a big lost for them, I think that it is too much necessary to follow our plane which we have prepared for our trading.

[wuvdoll]

almost all the points you mentioned were common mistakes made by the trades even if they are experienced enough.But they also have to learn themselves to avoid these mistakes to make more profits,most important thing is not having a strategy or plan will leads to other errors.

Mistakes aren’t bad. They are for our motivation and learning hub. Those who learn from their mistakes must understand that their professional life would be amazing. They are students of teacher that is greatest of all the materiality approach elements. Mistakes have got hidden instructions that if would extracted out, must be fantastic for the learner throughout his life.

You cannot do well in the long run without making mistakes and learning some lessons from it. Some were fortunate enough to bump into trading the market last year when the market was in an uptrend thinking it is all about buying low, being patient and selling high. I do not want to imagine how that is working for them now in this downtrend market.

The fact is trading cannot be effectively done without knowledge and that makes anyone who ends up going ahead without it always end up fumbling. Knowledge are easily available only when we make mistakes if those mistakes are happening when trade in demo accounts or while trading in low volume then we may escape otherwise never ever repeat a mistake and that mistake does not need to be your own.

[TheReverend]

hahaha, i always get no 5 and 6 i dont know why, if already gain about 10% i want more then the price drop and i cry Lmao that for no 5
and no 6 i always panic when im already buying that why i think i need more lesson in trading, how to reduce my emosion.

[MMnoob]

1. time problem
2. wrong buying time
3. wrong selling time
4. not consistent with prices
5. do not have a target

[Lesterus]

Yes being greedy is one big mistake you will do in crypto cause if you have a good income then you risk it and not withdraw it as your profit there will be a chance that it will lose all your assets some factors that are don't have good plan no proper strategy only just keep trading without knowing if your coin has a potential or stable in the market.

[AirFlame]

Here are some interesting facts about trading I stumbled across from CryptoCred which I think may be helpful
Common error to avoid when you day trade, I modified some to reflect my own opinion.

1. Revenge trading, trying to get back a trade that has been lost or chasing a trade.

2. Never using a Stop

3. Not having a plan (Risk/Entry/Exit/Stop)

4. Not sticking to your plan

5. Greed — risking too much/not taking profit

6. Being too emotional about a trade.

Plug these equity drains & increase your odds of being profitable.
 You could add to the list and make better trades

Yes almost all the points you mentioned were common mistakes made by the trades even if they are experienced enough.But they also have to learn themselves to avoid these mistakes to make more profits,most important thing is not having a strategy or plan will leads to other errors.

I've violated most of those rules being a noob at trading. I just simply follow the buy low and sell high technique. I know I have to step up my trading and have a plan. What plan can you suggest for newbies in trading?

I am not an active trader but still I can suggest you to some basic strategy you need to follow,actually buy low and sell high strategy is enough for the newbies just wait for the time to come if you are a long term trader and never invest more money than you can afford to lose and don't try day trading until you have enough experience since which is very riskier.

I noticed that most of this topics are the same, op didn`t wrote about trading mistakes he wrote about life mistakes. What ever you do in your life you need to be careful or you will hit your head many times and depending how you hit it that much it will hurt.
You need to have strategy, you need to have plan, you need to make good preparation, better prepared you are less mistakes you can make, and even if you make some you need to be ready for them and to have a solution in case something goes wrong.

Those were most common errors made by lot of mistakes so we can consider it as life mistake or trading mistake as you want,strategy and backup plan is very important in trading because as you said anything may goes wrong even if we do it with most perfection.And also the experience will give those the strategies you needed once you got familiar in trading.

To me I think that one of the most difficult job is to get control over your emotions, I have seen a lot of people who are too good in trading, they have spent a lot of time in trading but they never succeeded in trading and the only reason is that they do not have control over their emotions.

[leonix007]

1. time problem

It could be done on your target price

mostly doing it via your TA's

2. wrong buying time
3. wrong selling time

Setting entry points and exit points, if you got confirmations its a best time for me

4. not consistent with prices

Not sure what this means, prices are normally inconsistent

5. do not have a target

same at numbers 2 & 3, set also your stop limits

[MMS2017]

In trading many people do many mistakes and if the market is not good then make a stop and wait for the right time and if we have many coins then market analysis is best way to make money. And many of the trading errors include trade without market history causes.

[tosmartak]

In trading many people do many mistakes and if the market is not good then make a stop and wait for the right time and if we have many coins then market analysis is best way to make money. And many of the trading errors include trade without market history causes.

The idea normally after learning some basics needed is to learn a little bit from our mistakes it at the same time, these common errors can be averted if people actually ended up learning properly before embarking on the trade journey. That number 3 is actually the foundation of mistakes for a lot of traders who refused to learn and usually without strategy, there can be no plan and without knowledge there can be no strategy which makes losing become inevitable for traders in such space.

[Ekenegbu123]

These are mistakes we make and it usually costs us a lot in our trading careers and we need to devise a means to avoid those trading errors. This is a very good article and I gained a lot from it

[Xardasim]

5.number belong to me. Not always, but in the last 3 months I've lost some money, and even I haven't earned any money. The situation of market has more role in my loss, but I still see mistake myself.

[jems]

Exactly, that's the main problem for traders.
I always have problems controlling my emotions so that everything becomes different in direction with the plans that I have made beforehand, especially when I have benefited but always feel lacking and desperate to take greater risks and lead to losses.

[ichai]

Here are some interesting facts about trading I stumbled across from CryptoCred which I think may be helpful
Common error to avoid when you day trade, I modified some to reflect my own opinion.

1. Revenge trading, trying to get back a trade that has been lost or chasing a trade.

2. Never using a Stop

3. Not having a plan (Risk/Entry/Exit/Stop)

4. Not sticking to your plan

5. Greed — risking too much/not taking profit

6. Being too emotional about a trade.

Plug these equity drains & increase your odds of being profitable.
 You could add to the list and make better trades

I appreciate this article. I have been losing money recently and this article shows that I made two mistakes. I worked without plans and did not know how to place orders against losses. It seems like I have to focus on analyzing again and applying new methods to get a profit in my portfolio. thanks you.