Common Errors of Trading

[umbara ardian]

I think the mistake that often happens is that they are too easy to be affected by bad news so it is very difficult to get a profit. to be a good trader should be able to control the patience that you have to get profits,

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[slaman29]

The hardest of all in all that list is this: sticking to your plan. Traders spend a lot of time designing their strategies. Poring over charts and trying out analysis, reading and trying to make some plan. The temptation isn't just in the heat of the moment. It isn't just about revenge trading or keeping to stop losses and deposits. It's to look at others and say wow that guy's strategy is doing well, maybe I should change to his.

So traders never give their strategies a chance, they change it as soon as they're not doing well. This to me, is the worse.

[leonix007]

The hardest of all in all that list is this: sticking to your plan. Traders spend a lot of time designing their strategies. Poring over charts and trying out analysis, reading and trying to make some plan. The temptation isn't just in the heat of the moment. It isn't just about revenge trading or keeping to stop losses and deposits. It's to look at others and say wow that guy's strategy is doing well, maybe I should change to his.

So traders never give their strategies a chance, they change it as soon as they're not doing well. This to me, is the worse.

Trust your TA's bud

if Failed, better learn from it, it means a better room for improvement is coming

as much as possible don't look for others TA as the improvement must be coming from ourselves

One thing to add up for the common errors is the ability to familiarized the trading platform you're using

a simple trailing stop feature will help you and rekt you if you don't know what it means

[Ledy Alise]

The biggest problem is the emotion control by the new traders. And then, as a result, they buy on high and sell on low, and loose everything and leave the market.

[Getcoinsite]

Thats me,i never use Stop in trading ,because I always expect the recovery instantly

Another one is not having a plan,or the only plan i have is to Gain and nothing at all

Third is being Emotional in trading,i took it seriously and feels like end of the world when in loss,so instead of focusing to the next step it turns our to greedily attitude of want to gain back

Thanks for this  you got a good looks about the problem many of us struggels,and hopefully this will give all of us a direction when it comes to trading

[wuvdoll]

The most common one made by people is the rushing into a pump or bull run. If you see something at 100 and it goes to 150 than don't go into it at 150 because its going up, just because it went from 100 to 150 doesn't mean it will go to 200-250, it can but it doesn't have to, it can go back down to 100 from 150, even go further down to 70 or something, there are pump and dumbs which causes you to lose money when you are too late to get into and there are short quick bull runs that will make sure you lose money if you are too late to get in or did not got in during the dip prices. So when you see something going up, don't overreact and get a lot of that coin right away.

[kopnomi]

I have quite a number of friends that trade with emotions and I tell them to let it go.
Fear of missing out or seeing a token pump the more after they might have sold.
What goes up will definitely come down...
Just chill and tate your emotions out

[nydiacaskey01]

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

Above all the information above, its #4 that says it all. If you stick to the original plan, there will be no greed, no emotional about trading, there willbe plans in entry and exit, stops will be applied and no revenge trading. If you set a plan, work on it and stick to it like your life depends on it or else you will go home with an empty pocket.

[Planeparke]

There are many common mistakes traders make, especially newbies and amateurs,
Entering unprepared, some fail at demo trading, but still choose to go live. 

Starting off big, as a newbie you should start with as little capital as possible, tbis allows you learn without the pressure of huge losses.

Not getting emotional.

And never make excuses, ever.

[KorakPawon]

The 6 points that are mostly done by traders are generally common almost all and difficult to avoid, the most difficult things are numbers 5 and 6, sometimes when prices go down sometimes we cannot be patient and panic what we have all we sell for fear of continuing prices fall and fear loss.

[Tigorss]

the most widely done is in positions number 5 and 6, although from number 1-6 indeed all experience this error these mistakes are indeed for us to avoid because we are directly involved in bitcoin so automatically these things will continue to be encountered, but when we know something wrong, we can anticipate it.

[Aion2n]

Good advice. I myself am committed to drawing up a plan before buying / selling. Therefore, I always recommend that everyone start with this. It is also necessary to work with your emotions, that would not succumb to FOMO. And in general, to become a successful trader, you need to be sufficiently restrained and organized (of course, these qualities are additions to education and experience).

[Drobek]

These are really good plans especially the number 4. I didn't stick to my trading plan yesterday and I paid dearly for it. Henceforth, will stick to my plan no matter what.

[Viscore]

I think the mistake that often happens is that they are too easy to be affected by bad news so it is very difficult to get a profit. to be a good trader should be able to control the patience that you have to get profits,

Our emotions really affecting our trust and confidence on market trades. We need to control it so we can decide what is right and can move forward without any doubts in our mind. Its not only of being patient but it needs also to strategies our investment for more profits.

[Ridwan Fauzi]

Those all true, when I do trading some of these factors always manipulate my healthy brain to get profit. Allowing prices to continue to rise but prices decline again, and the brain says always think when prices decline and I experience losses that I do not sell but expect prices to rise again. I'm not a reliable trader so I always make these mistakes, I need to read and learn about trading at least to stabilize my passions both when I get profit or experience continuous losses.

[Kat_messy]

I think it's great you have summarized them. Trading is not an easy job, but short summary of common errors helps a lot. Atleast this way you are more aware of them and are able to work with them better! Well Done!

[usekevin]

Some new traders try to recover their loss in old trade by the new one.In that they will use buy bitcoin at the minor fluctuations and high price.Sometimes the price of bitcoin is take long time to recover,may be one-month.You should have a holding capacity at that time.You should avoid your emotions to get in to trade.If you avoid your emotions means,you will choose a panic selling.So this will prevent your future loss.

[Vangar]

Similar to this article, https://www.cryptocointrade.com/education/avoid-cryptocurrency-trading-mistakes/. Never gets old, these mistakes! They were the same in mainstream industries and still, people repeat them over and over. Greed and laziness, in my opinion, are the banes of many a trader!

[jackylion]

The most common error in the transaction is that the fees and charges are getting higher and if we choose low fees then the transaction will be slow and delayed, so I see that electronic money is becoming more and more expensive. It is more complicated and more difficult to invest and cost

[TelolettOm]

I think it's great you have summarized them. Trading is not an easy job, but short summary of common errors helps a lot. Atleast this way you are more aware of them and are able to work with them better! Well Done!

all will be easy if we are used to and want to learn from our mistakes. people make mistakes that is natural because we are human, everything will be fine if you are patient and not careless in trading.