Common Errors of Trading

[Cryptovn88]

I just made one mistake, I was too rushed when made a buy order, and then it was not stop going down

 

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[futile-resistance]

Trading against the trend is very dangerous and unjustified, I think the main problem of the trader is greed, it is always worth taking into account the risk management, it is much safer to withdraw from the transaction on risk and look for new entry points

It varies on the strategy that traders make. Going against bearish trend like selling through that trend could still be reasonable like they need an immediate refund of their buys due to some emergency or personal reasons. Can't blame those. It is not a greed and I know you aren't directly pointing greed at that. Panic is a different thing to talk about though since it is an emotional phenomenon in traders.

I believe common errors or mistake as the case may be; are actually related to the confidence of the trader on his or her own strategy. Now, for someone with no strategy, it is normal to get emotional and truly, this would always be the case as there is no two ways about it.

However, for those who may always want to add some certain emotions once in a while even with their strategy, rather than sticking with no matter what, they tend to grow over it after a while as they gain more confidence and learn from their errors.

[katuhakuh]

In my opinion, mistakes will occur and trade will be won, the most important thing is that we continue to learn and develop to be better than the last trade we made. The desire to get back everything lost in one trader makes a wrong trading decision.

[cammor]

FOMO (Fear Of Missing Out) should be in this list, too. For newcomers, FOMO means that you chase a certain currency when it starts pumping. The thing is that all whales and professional traders are already in the game, so when newbies buy skyrocketing coin, 99% that it will start falling immediately. Don’t try to chase lost opportunities. Better, learn and predict further pumps. Also, as for greed, it really may be useful. As the silver rule: «Be afraid when other traders are greedy and be greedy when other are afraid». This works.

[ahmad21]

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 would also like to add some more mistakes of crypto traders.
1. A very common mistake of newbie traders is that they look at the price of the coin while buying instead of market capitalization.
2. The traders do not consider the amount of time required to be spent in this market. You constantly need to keep track of the market.
3. Many traders lose control on their emotions. They always buy at the point when it has reached a top and sell it when it is at the lowest point which is the reason they always suffer losses.

[ocid]

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 think the 6th point is the most common mistake in trading activities, that is too emotional about trading. because in my opinion the most important trading activity is self-control which must be a benchmark because emotional attitudes will lead us to the wrong mindset.

[maemunah]

most of the mistakes in trading are always panic with the decline in prices in the market, so what you have to prioritize in trading is that you always patiently wait until the market returns so you can get good profits later

[Google+]

in my opinion, it is a very natural thing to do for new traders or traders who do not understand how to trade properly and correctly, but I also found that some people who have long been trading are still greedy and still often unable to control their emotions so they get a loss or get stuck at a very expensive price because this case, trading must be patient and not too greedy.

[metalglowd]

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 don't think using stop loss is not a mistake. if we are too excited at stop loss, then it will actually hinder our way of trading, at least we also have to know how to manage assets. before starting trading, the first thing to focus on is asset management

[Akoldi_ibk]

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

I think there is nothing so wrong with revenge trading, but it should be done in a right state of mind and with well planned strategy or better still, leave the fight back for another day.
In addition to your point; leaving the market for a time is a common error as well. One needs to stick to the market, be aware of any movement and expect the unexpected.

[Jaci]

At present, both boys and girls are very interested in training. There are many people who have done a lot of good income from training and many boys and girls have started training but they have a common mistake, which is why they started trading without knowing anything about trading. Although they do not have the right idea about how to open trade, they are attracted to it, so I would say first to learn training and then start training. The most common mistake of training is that, emotions can not control emoticons, so first you learn to control emotions and see if this small mistake will not make a big mistake.

[josephdd1]

I sort of agree with some of the comments I've seen already that certain months may be less advisable to trade than others but if I one was to be particular about it then I would say there is no strong evidence that such months are September for example. I think it rather varies with time and people's perceptions at that time.

[Yatsan]

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

4 and 5 are very relatable, i always change my plan if any unexpected event on the market happens. There are a lot of things to consider changing the plan but mainly because of the price. Being greedy is not an error at all since market is volatile the price variation will going to give you that feeling especially when the market drops, weak minded trader will panic sell while some big fishes will take the advantage to buy however you must have things to consider also like the price chart, datas and market season.

[rodskee]

Here is the link i can share to help aside from the op ideas about common errors in trading
https://m.youtube.com/watch?v=RwBklKnIXfQ
Watch at youtube to avoid mistake

[Crypto0035]

Thanks for this. Am new to trading.  Wanna start.  How and whar can I use to learn

[fauzan Ichsan]

I sort of agree with some of the comments I've seen already that certain months may be less advisable to trade than others but if I one was to be particular about it then I would say there is no strong evidence that such months are September for example. I think it rather varies with time and people's perceptions at that time.

if we observe, indeed in that month, the market seems less friendly and difficult to predict. but patience to achieve the target is also important, remembering many panic then selling it, even though market ongoing reacts to rise

[bitcoinveda]

Most of the traders fall in greed trap  they buy in price pump mostly this mistake is done by newcomers

[hitrawal91]

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 think there two most common errors that every trader do
1) They expect way to much from very small and also very quickly,Which is very wrong because in this you can take rash decision and lose everything.
2) Being impatient:- This is most common one and riskier one.

[carlisle1]

Damn numbers 1,2 and 4 hurting me now,as this was my errors occurred when i was still do day trading,but now i am enlightened and may use this thread when i get back again this riskiest area of crypto profiteering..

I know many of us here are being shot by this mistakes and realizing how stupid we are for not making this seriously wayback

[omonuyak]

I agree most of the error listed except don't put stop loss.  In trading stop loss is like  a two enge sword and I think it favour setting up than not set it up.  Many have had their account wiped out by not setting stop loss and some times we loss when we set it but little.