Mistakes need to avoid in day trading

[Bitcoin-Turkiye]

Thanks a lot of nice suggestions. since last year I had very altcoin in my hand. I've been in this sector for 5 years and sometimes I can still make mistakes. It's very important to control emotions.. and not risking all of the money..

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[1715003351]

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[arpon11]

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.

losses is part of trading and investments!  We cannot avoid loss but it is the level of your knowledge and skills that do make you money in any investments field.  To remain in trading your number of loses must be less than profits as no one can accurately predicts the cryptocurrencies market.

Thanks a lot of nice suggestions. since last year I had very altcoin in my hand. I've been in this sector for 5 years and sometimes I can still make mistakes. It's very important to control emotions.. and not risking all of the money..

That is were all the confusion is. Many people don't know that it is important not to trade than trading and losing and some did not know that they cannot predicts the movements of financial assets accurately and because of this,  it is very important we should investing with what we can afford to lose . Reducing our risk, should be the best investments decision to make if you want to remain in cryptocurrencies market for long-term.

[chapfx]

1. always trade with stop loss
2. never follow the crowd blindly
3. always set daily budget.

[Noa_Amable]

1. always trade with stop loss
2. never follow the crowd blindly
3. always set daily budget.

not sure about first point. if you trade without leverage then setting stop loss could be a bad idea especially while trading high volatile coin

following a crowd means following a trend? trading against trend is the very first and crucial mistake of a trader.

[Bitcotalk]

You should have at least a basic knowledge of trading and this will allow you to start earning. Do not spend a lot of time just for training. Start practicing slowly. Then you'll learn faster.

And that is the bottom-line of day trading of course. This is the reason the new startups in the market spend some good six months in the incubators before pitching in to the investors.

You enter the trading with the best of your knowledge; you are very instrumental in making the good moves regardless of what the market conditions are. Often people focus completely on day trading thereby miss out some good opportunities in other areas. Never miss out any opportunity.

[rapsa2018]

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.

[fullhdpixel]

that's true because a lot of people make mistakes like too panic and too ambitious, because both of these traits are most avoided by traders and they must be removed in our heads

What do you mean by insider’s information mate, could you be make that clear please because I am also opened to learning too ?

But, I think it is best to rely on chart and analysis because if you don’t work with both of them, then you will work with intuition which will allow emotional trading comes in, intuition is not completely okay to use when trading, that is why a lot of people fail in their day trading if they don’t learn to use it along with their emotion which I think is the major tool to use when trading.

[Barbut]

that's true because a lot of people make mistakes like too panic and too ambitious, because both of these traits are most avoided by traders and they must be removed in our heads

What do you mean by insider’s information mate, could you be make that clear please because I am also opened to learning too ?

But, I think it is best to rely on chart and analysis because if you don’t work with both of them, then you will work with intuition which will allow emotional trading comes in, intuition is not completely okay to use when trading, that is why a lot of people fail in their day trading if they don’t learn to use it along with their emotion which I think is the major tool to use when trading.

We rely on many factors when we are making trading decision, I say we cause I think most of us do the same, but we can be safe all the time. Mistakes and loses are part of the learning process, whether you like it or not, smart is to learn from mistakes, any other way is just denying and that leads to new mistakes. Analyse your mistake, take a slow walk in your memory and try to understand what went wrong, you will learn how to avoid same mistakes in the future.

[lerdo_451]

Personally, i think a lot of traders should pay attention to uprising exchanges, they’ve got much more potential.

[krusovcher]

Personally, i think a lot of traders should pay attention to uprising exchanges, they’ve got much more potential.

Why do you think so?

[Findingnemo]

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.

But if we are keep trading with commiting mistakes then we may not get our profits.It is not completely avoidable but we can minimize it by gradually and getting up a professional trader by days passes if we are concentrating on what we are doing.

[lerdo_451]

Personally, i think a lot of traders should pay attention to uprising exchanges, they’ve got much more potential.

Why do you think so?

You can easily analyze them without contributing, plus there is no established angry community there and the environment itself is easy.

[krusovcher]

Personally, i think a lot of traders should pay attention to uprising exchanges, they’ve got much more potential.

Why do you think so?

You can easily analyze them without contributing, plus there is no established angry community there and the environment itself is easy.

Partially agree, which one are you following?

[lerdo_451]

Personally, i think a lot of traders should pay attention to uprising exchanges, they’ve got much more potential.

Why do you think so?

You can easily analyze them without contributing, plus there is no established angry community there and the environment itself is easy.

Partially agree, which one are you following?

im digging into velvetexchange rn, they are running on demo tho

[krusovcher]

Personally, i think a lot of traders should pay attention to uprising exchanges, they’ve got much more potential.

Why do you think so?

You can easily analyze them without contributing, plus there is no established angry community there and the environment itself is easy.

Partially agree, which one are you following?

im digging into velvetexchange rn, they are running on demo tho

How is that possible?

[lerdo_451]

Personally, i think a lot of traders should pay attention to uprising exchanges, they’ve got much more potential.

Why do you think so?

You can easily analyze them without contributing, plus there is no established angry community there and the environment itself is easy.

Partially agree, which one are you following?

im digging into velvetexchange rn, they are running on demo tho

How is that possible?

they launched recently, so they don’t rush with big moves

[krusovcher]

Personally, i think a lot of traders should pay attention to uprising exchanges, they’ve got much more potential.

Why do you think so?

You can easily analyze them without contributing, plus there is no established angry community there and the environment itself is easy.

Partially agree, which one are you following?

im digging into velvetexchange rn, they are running on demo tho

How is that possible?

they launched recently, so they don’t rush with big moves

never heard of them, but okay

[cryptoblue77]

Most investors tend to make mistakes when they start day trading. If they learn from previous mistakes then it is most likely that they would be successful in future.

[Cherylstar86]

Day trading is risky and may lead to huge losses if not played strategically and if there are no established set rules before the trading day begins. To avoid getting caught up in the emotions of a big win or loss, you need to decide your entry and exit points. Never forget to always day trade with a trading plan in place. Your plan should include what markets you will trade, at what time and what time frame you will use for analyzing and making trades. The key part to risk management strategy is to establish how much of your capital you are willing to risk on each trade.

[gilangIDR]

Day trading is risky and may lead to huge losses if not played strategically and if there are no established set rules before the trading day begins. To avoid getting caught up in the emotions of a big win or loss, you need to decide your entry and exit points. Never forget to always day trade with a trading plan in place. Your plan should include what markets you will trade, at what time and what time frame you will use for analyzing and making trades. The key part to risk management strategy is to establish how much of your capital you are willing to risk on each trade.

In essence, when we want to do day trading, we must always pay attention to the price movements of the coins we have. With that, we will be able to continue to monitor and understand how the coin moves. The simple thing is that we are only required to be able to sell coins that we have far more expensive than when buying them. Always read the chart of price movements, then we will be able to make decisions and gain good momentum.