Mistakes need to avoid in day trading

[icecube45]

Yes, I agree. Especially at the first point that trading with no emotions, especially daily trading, because this can affect decisions in trade. If I can add, to start daily trading to see fluctuations. Because in the bear market not every day prices are in a good condition so it would be better to do daily trading when prices tend to rise, this would be able to make a profit even if not in large amount.

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[naruto7676]

Good advice also those people want to learn some lesson to avoid lossing in day trading. But day trading is also important to know so that people can always takecare of their money funded.

[Upgrade00]

1.Don't trade based on your emotions,just concentrate on FOMO and FUD.

FOMO and FUD are reflections of emotions and how traders react to different situations and publications. FOMO and FUD also barely affects day traders, they are interested in short, quick changes in the value, and healthy market volatility.

[Idrisu]

In this bear market lot of people were suffering about how to minimize their losses,for them trading is one good way to make daily profits and minimize your over all losses you made from the long bearish trend.SO these are the mistakes need to avoid when someone starts to day trading.

1.Don't trade based on your emotions,just concentrate on FOMO and FUD.
2.Only risk the amount which can be affordable for you or just don't enter into that trade.
3.Don't use the technical analysis more,its just a tool to predict but still there is no reason for it to happen cent percent.
4.Don't day trade only if you don't understand it.

More points about mistakes need to avoid are welcomed here for the newbie to learn.

This has been a long time trading rules and most time we hardly obey those rules.  Investing and trading is a very risky venture and since it is risk it is important that we should follow it base on the principle that the experience traders has tried to explain to us.  To me I will said " the market has it own mind,  therefore don't follow your own mind in trading"

[Findingnemo]

1.Don't trade based on your emotions,just concentrate on FOMO and FUD.

FOMO and FUD are reflections of emotions and how traders react to different situations and publications. FOMO and FUD also barely affects day traders, they are interested in short, quick changes in the value, and healthy market volatility.

Simply you need to use the emotions of others while trading crypto currencies which is by FOMO and FUDs not you personal emotions.Every movement is the day trading cast us either for us or from us,choose it wisely.

[Ispep]

The fourth point is very essential,many traders go into trading daily without proper knowledge of its nuances and what it actually is all about,and thus they lose quite a large amount of money
Traders who day trade without acquiring the prerequisite knowledge are only putting themselves at a huge risks
Day trading is different from just "buy and hodl",it requires more concentration and more study,so it's best to learn before investing

[omonuyak]

Many investors invested base on emotions and traders are also doing the same.  Trading without adequate knowledge on how to trade is a risk not worth taking.  I think we are not going to have emotions out of trade but the emotion should be a healthy one.

[TitanGEL]

In this bear market lot of people were suffering about how to minimize their losses,for them trading is one good way to make daily profits and minimize your over all losses you made from the long bearish trend.SO these are the mistakes need to avoid when someone starts to day trading.

1.Don't trade based on your emotions,just concentrate on FOMO and FUD.
2.Only risk the amount which can be affordable for you or just don't enter into that trade.
3.Don't use the technical analysis more,its just a tool to predict but still there is no reason for it to happen cent percent.
4.Don't day trade only if you don't understand it.

More points about mistakes need to avoid are welcomed here for the newbie to learn.

Day trading on bear markets is not advisable. Try to notice the price and one thing that you will notice is the price is not going anywhere. Most of the time, price is just moving side ways. The profits that you get is not enough to pay for the fees. If you really plan to continue day trading, set a low target like 2% to 3% profits, upon hitting your goal, Sell right away.

The reason why we should do day trading when the bear market is still occurring is because the movement of most of cryptocurrencies are unpredictable due to its abnormal movement. We will only lose if we will continue to day trade so it is why it is not advisable.

[Reid]

How to minimize loss and no mistake at all. Dont trade. With knowledge or none. There is always that possibility that you will lose.
If you cannot swallow that truth then, it will be a hard battle for every loss that you will take.

It is not always Christmas that you will see profit in every move you make. Even technical analysis or whatever professional advice you had receive can turn into a wrong idea.

HODL is your choice then. Mistakes will always be there.

[Bunsomjelican]

The no. 1 We should avoid in trading is our Emotions, what do I mean by this things? this has been mentioned many times in bitcointalk forum.
But once more, we should know how to control our emotions in a proper way while we trade in the platform exchange. This is the problem why many of the other traders failed and loss their coins, they got easily controlled their panic which is not supposed to be happen, instead of panic let us still remain calm and relax even the market is down, remember as long as your not selling your coins even the price is dump more than 50% its fine. I can consider it still that your not losing your coins. Hold is the only key for you to recover your loss if you think you are lose.

[semobo]

Biggest mistake from the newbies are they taking day trading as their investment capital when they are relatively new to the trading so the chances of losing their money is more than when compared to experienced trader doing it.

[creeps]

Many investors invested base on emotions and traders are also doing the same.  Trading without adequate knowledge on how to trade is a risk not worth taking.  I think we are not going to have emotions out of trade but the emotion should be a healthy one.

This should be avoided in the first place and this mistakes should be avoided not just on day trading but also on your whole investing/trading journey. Knowledge is important in trading, usually newbies are the one who always do mistakes on trading maybe because they are more greedy.

[Ararbermas]

In this bear market lot of people were suffering about how to minimize their losses,for them trading is one good way to make daily profits and minimize your over all losses you made from the long bearish trend.SO these are the mistakes need to avoid when someone starts to day trading.

1.Don't trade based on your emotions,just concentrate on FOMO and FUD.
2.Only risk the amount which can be affordable for you or just don't enter into that trade.
3.Don't use the technical analysis more,its just a tool to predict but still there is no reason for it to happen cent percent.
4.Don't day trade only if you don't understand it.

More points about mistakes need to avoid are welcomed here for the newbie to learn.

  
Those words you have mentioned above is very useful mate and  definitely a big help for those beginners who are searching for a guide to prevent such issues.  I hope everyone can read this before jumping into risk situation.  Cheers

[davinchi]

We need to avoid day trading itself. Yes for crypto markets and its volatility, day trading is not at all suitable for any trader.
Unlike most other markets, crypto market is having a specialized way of easy money making method which must be long-term holding. When we are having easiest and assured way of money making with the cryptos then why should risk in day trading.

There will be no compulsion to close the open position within a day in crypto market then why should we consider about day trading whereas position based trading or long-term holding based  trading is fetching almost 99% times getting us profits.

The only requirement for position based trading is, we must trade only highly reputed crypto coins. For day trading, you may choose any coin and at the same there will be guarantee for making profits.

[bitcoin31]

Wow that mistake is usually happen during the day trading is needed to avoid. But mistakes is normal  and even you are careful of what yoy are doing you can still do a mistakes but the good for that is you learn from that and never do that again.

[izanagi narukami]

TA is require to analyze the chart on day trade , without it, we are going trade based on feeling.
What make it different from gambling ?

In crypto case, day trading become more risky but it yield more profit than ordinary stock trading

[justspare]

Emotional investment is usually also very quick investment as well. I have seen people overreact to news and buy or sell accordingly right away like under 5 minutes of reading the news and that is not enough time to research those type of trading. People should be researching the trade they are going to do for a long time before they make any trades and when they do emotional trading they do no research at all

If you are going to do daily trading then read what you are going to buy and check out the indicators and take a look at the historical data and so forth before you make any trades at all. That way you will not be holding any bags of a coin you have no idea about and you will only have coins that either made you a profit or you will have coins that you know of but fell in price that you can decide later on what to do with.

[TheUltraElite]

Biggest mistake from the newbies are they taking day trading as their investment capital when they are relatively new to the trading so the chances of losing their money is more than when compared to experienced trader doing it.

Thats why newbies should not try trading immediately. But few newbies can control the greed of attempting to make money off the market since they saw the bitcoin pump back in 2017 December and they think that a new shitcoin is going to become the next coin to pump like that eventually putting their money in it. What they didnt do is the price analysis - one of the most basics that every new investor should do before investing.

Many investors invested base on emotions and traders are also doing the same.  Trading without adequate knowledge on how to trade is a risk not worth taking.  I think we are not going to have emotions out of trade but the emotion should be a healthy one.

People get control over their emotions over time and they become resistant to it as well. Those who cannot get a grip on them should not try trading in my opinion.

[Distinctin]

TA is require to analyze the chart on day trade , without it, we are going trade based on feeling.
What make it different from gambling ?

In crypto case, day trading become more risky but it yield more profit than ordinary stock trading

We fairly consider both our emotions/feelings and the suggestion from the others. Though we analyze the market but we need to think any possibilities of its changes in any minute from now which our feelings seems helping on it. It mostly we commit mistakes due to wrong decisions cause we don't listen from the others. All in trading will really matters how we think fast, being brave and to follow our instinct.

[Oceat]

That's why it is so important to have adequate knowledge when trading because if not we were merely just trading based on our own feelings. There is no assurance that you will gain a profit because everything else was just based on feelings and this might be the reason why most traders lost except to those weak-handed people. They were just nothing selling their coins because of FOMO.