tell us 3 mistakes you do when you start trading

[styca]

tell us 3 mistakes you do when you start trading

lets start 

1) Making decisions from blind panic rather than cold logic. This is panic-selling as well as buying through FOMO. You should never ever buy or sell just because a coin is rising or falling in price. You need to understand why its price is moving.

2) Not setting an exit point. If a coin starts to rise, it is very easy to hold on too long, and only sell once the price has dropped back. The problem here is that price drops are often quite harsh, so the best time to sell, counterintuitively, is whilst it is still rising. It is important to set yourself a target exit point in advance.

3) Not setting an entry point. This is also important. If you decide you want to buy a coin, you need to assess its current price, and whether this is likely to fall to give you a better buy-in point.

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[milandres0207]

tell us 3 mistakes you do when you start trading

lets start 

The three mistakes in which I think that I made was;

1. I was controlled by my emotions

2. I became impatience

3. I depend my profit in trading through my luck

Those mistakes was really lesson learned to me, after these things done
I never repeat the wrong deeds on which I made.

[nydiacaskey01]

1. I signed up to a pump and dump group, it’s a signal group that I have to pay for a fee and I will receive signals from them what coin to buy and when to sell. It’s not a good idea because they will send you signals that are late and they already bought before you buy yours.

2. Listen to random advise from people I thought are experts in trading. No one is an expert that’s what I learned, they may have earned something from their last trade but it doesn’t mean they always earn in every trade.

3. Buy without looking at the charts, graphs and just rely on emotions. It’s a bad idea.

[Shadidalam1111]

1. I never see the project in very detail and buy the Currency because of raising price.
2. I listen to many social advisors of crypto and buy the Currency without researching it.
3. this is the biggest mistake that I have ever done is when I'm trading I don't put any stop loss.

[virasog]

tell us 3 mistakes you do when you start trading

lets start  

My three mistakes are

1- Not getting the knowledge of technical and fundamental analysis
2- Follow the top rated youtube channels which provided free signals and predictions
3- Not using stoploss and panic selling

However i realized my mistakes with the passgae of time and become a better trader.

[izanagi narukami]

• Sell to fast
• Do not want to buy eventhough it already reach lowest value at that time
• Sell for losses rather than bigger loss

Those are human's fear in trading so by experience they can overcome it one day

[nakamura12]

I never trade that much before but I still did some mistakes when doing a trade. Mistakes that I made as far as I remember is panic buying and panic selling. Also made a mistake on not using stop loss in my tradings. Panic selling could happen to everyone who has a weak hand but now I tried not to be one and learn more about trading to avoid doing the same mistakes

[pixie85]

1. when bitcoin was pumping: "i missed the boat on bitcoin, better buy something cheaper!"
2. after the market started crashing: "i'll just wait for the price to come back up!"
3. when i didn't use stop losses: "i'll just set a mental stop loss!"

these attitudes led to some pretty tragic losses for me.

Setting up a mental stop loss this one is so funny because it's so true. Probably half of all traders do it at first and then they wake up one day and see they're 5% on the loss.

"oh shit' i'm already at a loss, I won't sell now and wait for it to recover, it can't be much worse" And then they go -10% and it just makes them more and more miserable until the breaking point comes.

[sana54210]

tell us 3 mistakes you do when you start trading

I will say that I have not made much mistakes ever since I started trading cryptocurrency, not because I want to boast or not because I am a pro trader, if you take a look at Forex trading and cryptocurrency trading, it is clear that both of them have similarities, and most of the mistakes that I would have made in cryptocurrency trading was already made when I was trading in Forex and I could remember that one of the mistake that I ever made then was to borrow loan to trade, I mean physical loan and the second one was to borrow platform loan, I mean leveraging and the worst was that I was quite very greedy which I would call the third mistake by leveraging high when I was supposed to leverage low, and that was how I lost y car because I used it as collateral for the loan.

[bL4nkcode]

"oh shit' i'm already at a loss, I won't sell now and wait for it to recover, it can't be much worse" And then they go -10% and it just makes them more and more miserable until the breaking point comes.

Most traders experienced this until they lost too much and on most new newbie traders gave up because of this.

Well, I experienced that too, most often, that's why when I buy it should be for a long term, well just hodl.

[Lapatai]

My mistakes were:
+Hoping for a quick profit doing nothing (well, buying, then just waiting how much will I make).
+Not having a patience, because I stopped the trade and couldn't wait more, after that, the price soared and later....
+I was buying the highest price and selling the lowest so it wouldn't go that well for me...

And I should have red some books, watch some educational videos and talked to someone about trading before I started to do so myself.

[Sohyun Park]

I think this are the basic mistakes that everyone faces in the initial stage of trading.

• Prioritising emotion over analysis
• Not setting proper stop-loss
• Trusting on signals flowing on social media