This will help to improve your trading

[rocketbits]

I agree that these are all common mistakes made by everyone involve in trading. Many newbies in trading will experience this and if they are reading this, these will help them and be served as a warning when they get there in trading their money.

Lol. The funny part is that even if they read it, some of them will still make the mistakes mentioned lol. Experience is always the best teacher. Even when I started I read all these but I still made the mistakes. And by the time I realized everything I have done I felt like it was too late but I still didn’t give up, although I did quit for a short time but I still got back to it.

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[cluit]

1.   You only won’t think about your money if at first you invested what you can afford to lose. If you
      invest big money you will always be worried about losing it.

2.   Managing money doesn’t have to do with only when you’re a trader, in everything you’re doing you
      have to know how to manage your money properly. If you don’t manage yourself you will go broke.
      Lol

3.   Thank you for that, we should always be confident. Some analysis you see these days will try to
      discourage you, but all you have to do is believe in yourself.
      In fact all the tips you’ve given here are really good, including 4, 5, 6, 7, and the rest of them.

[Clark05]

It is helpful to the newbie for their improvement. Because newbie needs a lot of information, tips and advice.
Maybe I can use it too someday once I see that I need to improve my skills in trading world. I want to gain more knowledge so that's why I keep reading and searching.

[steve57]

emotions greed and panic is always bad for trading we have read many rules in books and we did experience those in real trading but this takes time to improve our emotions  

Emotions are always enemies for our trading plans. No books will help you to tackle your emotions while trading but only your experience may help you. That is why pro traders always emphasizing about mock-trading. Through experience we can handle our emotions effectively so that we will not take decisions due to emotional failures.

I have been trading for a year now , and still I'm not even close to being able to control my emotions. It had lost me so much money and I feel frustrated and almost close to quitting because I think this market isn't for me. I guess the problem is the fact that the money I have on cryptocurencies are my only funds and my only source of income. This makes it harder for me to not get emotional when my holdings start falling ,which drives me to make irrational decisions to try and recover somehow.

yes if we depend only on trading income, our emotions will affect our trading more, first reason is fear of losing and next is too much concern on money
i have seen many who dont care about there capital and concentrate only on there trading have good emotion control

[beerlover]

here are the mistakes i did and the with experience i got answers to my mistakes  

When you are aware of sharing your mistakes and the lessons you learned from the experience, why you have not opted for learning from others mistakes ? That is an easy way of gaining experience and also it comes for free of cost and free of frustration. I mean that you do not need to go for committing all the mistake by your own to learn experience but you can learn the same things from others mistakes too. Just go for easier things.

You have provided very much useful tips which will be definitely helping many traders here. I wonder how long you have been into trading so that you got chance of make these many mistakes and got time to learn some lessons from them.

You must have been keeping track of your mistakes and for the lessons too. Otherwise it could not be possible for any other trader to remember all these and also unfortunately most of them are not finding time to share the experience with this community. In that way I must need to appreciate you. Keep your good to go up always for the sake of this community.

[steve57]

I have been trading from 2 years and this are the mistakes I did and I do keep note of that so that I don't repeat those again
I shared my experience (mistakes) so that newbies can know and be aware of this , I have seen many traders just run behind strategies and igonre many important rules which is equally important as strategies

[izanagi narukami]

The advice is easy to understand but it's difficult to implement because we are in crypto trading where the risk is greater than ordinary stock exchange.

Personally I try to think simple , just be the investor by holding in the long term on crypto and it's work for me especially when it already gone almost 4 years !

[mersal]

The advice is easy to understand but it's difficult to implement because we are in crypto trading where the risk is greater than ordinary stock exchange.

Personally I try to think simple , just be the investor by holding in the long term on crypto and it's work for me especially when it already gone almost 4 years !

yes you are right following the best opinion is always tougher to understand because following some regulation will not be approved by any people and we cannot do anything against that but keeping the best something to understand things so it will be not easier.

[playboy654]

Thank you! Yes, just common sense, but... it's ok to remeber it periodically

Yes you are correct the above mentioned points are very important to follow buy each and every traders and do what you have to think it also a very important for a trader but the points mentioned in this topic are also very helpful for doing better trading

[Yamifoud]

I have been trading from 2 years and this are the mistakes I did and I do keep note of that so that I don't repeat those again
I shared my experience (mistakes) so that newbies can know and be aware of this , I have seen many traders just run behind strategies and igonre many important rules which is equally important as strategies

Yes,  we may learn on our mistakes and do solutions on it but it somehow we've been mistaken again.  Those failures is just to consider a part of our life but it that way we become stronger and better. Because we want to discover things and to find another ways that's why we should experiment something. But in the end we just realize that we are wrong, it is better to stick on the old one strategies so we didn't face losses in the end.

[wall101]

Good strategy but holding altcoins for me is not profitable anymore Because all altcoins already drop on their price to its hard to predict if the will go up or down.

[steve57]

Calculate your risk first if you can afford that risk than I suggest to hold as markets is in correction stage now  (this is just my suggestions I don't know what altcoins you are holding) if altcoin you are holding are good then a little bit market support it will recover

[wayancrypto]

We should be learn from the mistake in the pass, from my experience in crypto trading i did some mistake , that is greedy and did not use stop loss. So risk management and how to manage emotion will be first thing to learn in trading.

[Aivaryamal]

Very useful tips for every trader, the main thing is to set precise and specific goals and in any case not to succumb to emotions!

[DaddyMonsi]

Don't worry if you see traders flaunting how much they earned from their recent trade. Before they earned that much in every trade, they also failed as some point and who knows if that's the only trade that they made and earned, they just want to flaunt and increase their followers. Get tips, listen to others opinion but at the end of the day its still you who will decide if you will Buy or Sell.

[ethereumhunter]

You see that many of us making the same mistakes and many of us suggest learning from the mistakes so we can be better than before. It is natural to make a mistake while we were trading, but it's not natural if we cannot learn and we cannot increase our knowledge in trading. We only make the same mistakes in the future, and if that happens, then we cannot recover the losses and even the lose will bigger than before. So, the first thing we need to do has control in yourself, don't greedy if you can make a profit, don't forget to take that profit while you can. In the end, taking a break will be good for you so you can get a rest for a while from the market and think about what you want to do later.

[South Park]

Lol. The funny part is that even if they read it, some of them will still make the mistakes mentioned lol. Experience is always the best teacher. Even when I started I read all these but I still made the mistakes. And by the time I realized everything I have done I felt like it was too late but I still didn’t give up, although I did quit for a short time but I still got back to it.

There are two ways to learn, to make your own mistakes or learn from the mistakes of others, I do not know what you think but it is preferable for me to learn from the mistakes of others instead of having to experience them myself, this will not only save you money but time and stress as well, so even if experience is a good teacher we need to reduce the mistakes we commit by ourselves and reading about the experiences of others is without a doubt a good way to do it.

[hahay]

You see that many of us making the same mistakes and many of us suggest learning from the mistakes so we can be better than before. It is natural to make a mistake while we were trading, but it's not natural if we cannot learn and we cannot increase our knowledge in trading. We only make the same mistakes in the future, and if that happens, then we cannot recover the losses and even the lose will bigger than before. So, the first thing we need to do has control in yourself, don't greedy if you can make a profit, don't forget to take that profit while you can. In the end, taking a break will be good for you so you can get a rest for a while from the market and think about what you want to do later.

The person who keeps repeating the same mistakes and can never learn from his mistakes in the past, then he will never be able to get the desired profit, instead the losses will be sustainable and he should go away from trading if that happens. Controlling greed is the most important thing and when in trading, traders should know when to sell and buy. Because selling too fast will also make you regret when the market continues to show an increase and when we are too slow to sell, chances are we will miss a moment of sales when the price has been dumped.

[akram143]

hi traders i am sharing my mistakes and experience so that it will help you

here are the mistakes i did and the with experience i got answers to my mistakes  

1) dont (care or think) too much about your money while trading this will reduce your confidence and make our decisions to reverse
and put money which you dont need

2) learn about money management (i know you might have heard about this many times , this is a huge topic to explain )
in short

remember trading and investing is a business, you have to risk something to gain something ,
so here is what you can do , risk is in your hand and you dont know how much rewards you will get so all you can do is control your risk , so calculate your risks and then enter trades and wait with patience

at first your goal must be to protect your capital , and then protect your profits , dont risk everything
 
3) Do not get panic by watching others analysis , remember panic is not good for trading, be confident with your analysis

4) if you have got good profits then keep it as a back up capital , when there are bad days if you lose your capital this back up capital will help you

5) dont trade if markets are too much volatile , no trade is also a trade , relax on that days watch some comedy films

6) dont ever think to recover your losses , or trade against

7) if you have entered trade by calculating risk then dont exit in middle wait for your targets , fluctuations are common

8 ) one of my friend told me this --- to keep track of trades
like why we lost that trade , why that trade reached its target,keep a record of this   and just go through this when you are free trust me it will help too much

9) everyday you will not be profitable so set a limit for loss everyday if it is reached than stop trading ( i have lost money before without doing this )

10) If your finger is stuck somewhere, in real life you must think to get your finger out of there , but in trading if your finger(trade) is stuck then you must cut it and get out of that trade, because in trading finger(capital) grows back ( this i learnt by watching psychology videos )

11) I know many of you have heard this points before , but remember until you dont put your personal interest and do trading by following rules nothing will change
and success is  not easy we must work-hard to achieve it    

12) i am sure if you follow this rules you will see changes in your trading ,

if any experienced traders do have some points that will help traders please highlight it


13)But remember, never put your eggs in one basket, this way even if one of your investments is on a down trend, you can still recover the loss from another investment. This point by (nydiacaskey01)

what is my greatest opinion for all the traders do not panic while trading or if you doung any other job if you panic your work will definitely stop for a while it takes to you the another dimension of your work so while working don't fear and panic make the patience for higher.

[yanto@1977]

Yes, for me this is psychology lesson that can be use to control our emotion. Important part already know but how we can take disciplines is another story, theory different with the field. All come back to us, like or not think twice and follow our rules is the key of success.