Mistakes need to avoid in day trading

[mersal]

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.

But why don't day trade most of the people using day trading as their money making but the other three points are very useful for the new people to get their knowledge from these points.

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[moynul2050]

mistakes that occur do have to be used as experiences so as not to repeat themselves in the future so we don't make the same mistakes. in daily trading mistakes are indeed very important things to avoid I strongly agree with some points mentioned by the OP so that we avoid mistakes that often occur in daily trading.

[deisik]

and dont to be greedy sometimes being greedy is the way to loose your fund because waiting of more income in daytrade. so much better to sell if the price is enough to profit..

How is the context of greed coming to day trading, because a person who is having the skills to day trade is not greedy at all. Thats contradictory in the first place

I mostly agree with this part

In day trading your actions are semi-automatic as you are following some prescribed plan, or you can even use a trading bot which would do the same thing for you and instead of you. In simple terms, you buy and you sell based on where you stand in the market at the moment and this has little room for greed

With that said, though, greed also plays some role in day trading, though not in the way most people come to think. Greed reveals itself in the spreads you use. If you are greedy, you would be using narrower spread, probably losing some profits by closing your positions prematurely, i.e. without squeezing maximum profit

[Johnzky]

To successfully day trade you need to have a decent amount of time available, early on I made many mistakes as I was rushing so decided this method was not for me.  If you have the time and skillset I wish you luck.

Even if you have plenty of time yet this proves that Day trading is not for all of us,either we admit it or not but most of the loser in venturing this are not supposed to be on this,instead they should practice keeping patient and awaiting by buyinh coins to keep in wallets for atleast a year or so

Thats why for me only limited person in here are profiting literally without any real life job,because this must be consider as extra income provider(not unless you are a rich person or have lots of capital to spare with)well this was just my point of views

[emmybd]

Well, first of all, if you are newbie then day-trading is not for you. Many investors just jump into day-trading without knowing about it, in the end they suffer losses, so it would be better before doing day-trading spend a few months to know well about the market.

[gabmen]

Well, first of all, if you are newbie then day-trading is not for you. Many investors just jump into day-trading without knowing about it, in the end they suffer losses, so it would be better before doing day-trading spend a few months to know well about the market.

Dude everyone starts as a newbie. Even experienced daytraders won't be where they are right now if they just gave up when they started getting losses. I think as a newbie, you can't avoid making mistakes and getting losses. It's part of the experience and it's how you learn from these mistakes that'll spell the difference in the future.

[Farma]

I think there are enough things that our friends have mentioned in terms of what we need to avoid. now we only need to pay attention to these points, because sometimes the control is over, and also the greedy nature makes us forget about those points.

[TheUltraElite]

Well, first of all, if you are newbie then day-trading is not for you. Many investors just jump into day-trading without knowing about it, in the end they suffer losses, so it would be better before doing day-trading spend a few months to know well about the market.

There are multiple factors to blame in such cases. Some wannabe get-rich-quick people come under the false pretext of making big money by following some pump and dump groups. These groups are money grabs for paid memberships and they only pump their own shitcoins so they can sell leaving the owners with bitcoins and the brainwashed followers with some shitcoin to hold on forever.

Day trading is not copy-trading. Most copy traders are selling memberships to make money. They rarely do any actual trades to make money other than the occasional pump and dumps. Better to do your own analysis before buying any coin.

[upsidedown75]

Greed is the biggest problem that traders will face in the market because once the price can increase higher, sometimes we don't take the profit and let it go for higher. But suddenly, in the next minutes, the price drops drastically without we have a chance to sell at the highest price and it happens over and over. I remember in a few years ago when I was new in trading, and I miss so many chances to sell at the highest price because of greediness. And now, I don't want to get the same mistake, and I will prevent to be greedy.

Not just greed, a trader must need to control all his emotions so that they may go as per their way of trading plans. When traders are losing control over their trading due to the reason of emotion failures then they may need to face losses at the end of the day.

I too believe emotion failure must be a very big problem for most traders and this need to be avoided at first hand to move toward the success in trading.

[timmydakolo2]

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.

These are good mistakes been pointed out to be avoided by a day trade trader  and also for the newbies who wants to take part or adopt in day trading. Additional mistake one also do is by looking back at when sold off and the price went up. Don't have that emotions because it won't help.

[Finestream]

I think there are enough things that our friends have mentioned in terms of what we need to avoid. now we only need to pay attention to these points, because sometimes the control is over, and also the greedy nature makes us forget about those points.

Exactly.These points will lose its value if a trader tends to be more greedy and is mostly controlled by his own emotions.He  will never make it to a successful trading.Day trading might bring high risks particularly for newbies so better day trade only when you are already gaining lot of experiences and is already capable to take those risks.

[PuertoLibre]

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.

These are good mistakes been pointed out to be avoided by a day trade trader  and also for the newbies who wants to take part or adopt in day trading. Additional mistake one also do is by looking back at when sold off and the price went up. Don't have that emotions because it won't help.

Sometimes price is dancing with emotions while it creates fake breakouts and pullbacks. Mistakes are costly and without cost business can't operate and trading is online version of asset exchanging business. Emotions will lead to make mistakes but not all mistakes make trouble,sometimes newbie luck can cause winning series in trading.

[Tungsten-1]

mistakes that occur do have to be used as experiences so as not to repeat themselves in the future so we don't make the same mistakes. in daily trading mistakes are indeed very important things to avoid I strongly agree with some points mentioned by the OP so that we avoid mistakes that often occur in daily trading.

Agree with you mate we should try to avoid making mistakes than crying over spit milk, better avoid all your mistakes, there are some mistakes like panic selling, being greedy to have profit and not to wait for right time selling, to be a good trader you will have to control your emotions so you will always only earn and will not lose anything, don’t panic just wait.

[beerlover]

Mistakes in day trading is not easy to avoid because there are such time that the market falls and growing up so it's not a mistake also it depends what will be the out come so its normal by taking the risk of crypto trading.

Yes, day trading timings are known heaven for committing unexpected mistakes. We need to be more careful so that we can avoid those mistakes but it will be possible only after having plenty of experience in day trading otherwise almost all the traders are making mistakes in day trading as it is easier for them to get emotionally failed due to fluctuations of day to day markets.

We may go for listing all the mistakes which are possible in entire trading then we can adopt those for day trading too because day trading is known for committing more mistakes than any other type of trading.

[Botnake]

Mistakes in day trading is not easy to avoid because there are such time that the market falls and growing up so it's not a mistake also it depends what will be the out come so its normal by taking the risk of crypto trading.

While it's true that it's not easy to avoid, but we do have to put in mind that we need some strategy to avoid making mistakes as every mistake will cost us money, that's the reality in trading.

To be profitable which is our main goal, we should continuously develop our skills in order to predict the right market movement.


If we do that and will predict it right most of the time, it will result to a profit as long as we also know how to properly manage our funds. 

[iMark]

and dont to be greedy sometimes being greedy is the way to loose your fund because waiting of more income in daytrade. so much better to sell if the price is enough to profit..

Greed is the biggest problem that traders will face in the market because once the price can increase higher, sometimes we don't take the profit and let it go for higher. But suddenly, in the next minutes, the price drops drastically without we have a chance to sell at the highest price and it happens over and over. I remember in a few years ago when I was new in trading, and I miss so many chances to sell at the highest price because of greediness. And now, I don't want to get the same mistake, and I will prevent to be greedy.

therefore most people fail to trade because they have great greed and emotions too, because these two traits should never be used to trade if you want to get a bishopric

Everyone wants a big profit, everyone doesn't want to lose too much, that's the wrong mindset of a trader, thats why they
experience greed and panic if certain conditions, they have to change their mindset

[BlackPanda]

mistakes that occur do have to be used as experiences so as not to repeat themselves in the future so we don't make the same mistakes. in daily trading mistakes are indeed very important things to avoid I strongly agree with some points mentioned by the OP so that we avoid mistakes that often occur in daily trading.

Agree with you mate we should try to avoid making mistakes than crying over spit milk, better avoid all your mistakes, there are some mistakes like panic selling, being greedy to have profit and not to wait for right time selling, to be a good trader you will have to control your emotions so you will always only earn and will not lose anything, don’t panic just wait.

Good emotional control will determine whether a trader will get success or not. Controlling emotions can make a trader make a good decision, because with all the calm things can be much more comfortable and we can think well by paying attention to all aspects such as analysis and data.

[cryptocointrade.com]

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.

Hi, this is my list about mistakes needed to be avoided

1. Only Invest What You Can Afford To Lose
2. Diversify: Never Put All Your Eggs In One Basket
3. Don’t Try To Make Profit In Every Trade
4. Don’t Be Too Greedy
5. Don’t Have Fear Of Missing Out (FOMO)
6. Maximize Your Winning Trades
7. Always Learn From Your Trading Mistakes
8. Minimize Your Losses And Set Stop Losses
9. Reduce Emotions And Stay With Your Strategy
10. Sell The News And Buy The Rumors

Many traders agree that the hardest thing to become a winning trader isn’t to maximize your winnings but rather to minimize your losses. This article will walk through ten Cryptocurrency Trading Tips and trading mistakes, one-by-one and how to avoid them. In this article, we ’ll go through Cryptocurrency Trading Tips on how to avoid the most common mistakes in cryptocurrency trading.

[luckycoinn]

Noobs shouldn't even try to daytrade anyways, they should just buy buying and holding.  For someone to make money in trading someone has to lose.  If your new you will get eaten up by the pros that have been doing this for years.  The only people that win in the end are the exchanges with their trading fees.

so you mean that noobs are not allowed to try daytrade?
so when they gonna be a pro? Pro also noob back then, but they try and learn so they can be pro.
and you said have been doing for years? when a noob learn and try for years too, they can also be a pro

[btcyoda]

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.

Hi, this is my list about mistakes needed to be avoided

1. Only Invest What You Can Afford To Lose
2. Diversify: Never Put All Your Eggs In One Basket
3. Don’t Try To Make Profit In Every Trade
4. Don’t Be Too Greedy
5. Don’t Have Fear Of Missing Out (FOMO)
6. Maximize Your Winning Trades
7. Always Learn From Your Trading Mistakes
8. Minimize Your Losses And Set Stop Losses
9. Reduce Emotions And Stay With Your Strategy
10. Sell The News And Buy The Rumors

Many traders agree that the hardest thing to become a winning trader isn’t to maximize your winnings but rather to minimize your losses. This article will walk through ten Cryptocurrency Trading Tips and trading mistakes, one-by-one and how to avoid them. In this article, we ’ll go through Cryptocurrency Trading Tips on how to avoid the most common mistakes in cryptocurrency trading.

These are the basic mistakes we are doing in the trading, every time day trading will not work for us because market fluctuation will change continuously. So we have to act according to the market condition and fluctuation.