I am not lucky in trading - what am I doing wrong?

[arwin100]

that happens to a lot of people, not just to you. Just continue to practice trading with small amounts. When you average the times that a traders missed the right buy or sell point, I think most of us are more in the negative. Trading will test your patience and sometimes it will seem that you're just out of luck. Good traders set this aside and continue to learn. If you want to be an efficient trader, then you shouldn't  let setbacks dictate your general outlook towards trading. It's a continuous learning process.

Correct and he shouldn't lose hope for those loses since he might gonna come up with an idea on how to trade properly by those experience and the only thing he need to do is to prolong our patience,learn the statistical movements of the market and deprive our fear aswell extend our patience on it since if we master it for sure a lots of income will come unto us.

But also maybe if he don't have enough bankroll for possible losses maybe I suggest it to him to use the site who offered trial phase or maybe just monitor and learn the market flow.

[miningguru]

I have fallen in to these same traps. For me the answer is long term trading only. Right now I would consider buying only because the price seems relatively low and I think it will go much higher later. If I do buy and the price drops, I won’t sell but I will consider buying more.

Yes, long term trading will be the best option instead of selling them in the short term. Price is dropping hugely when the price of Bitcoin is fluctuating, and it is not the right idea to sell them, but the best option is to buy the coin whenever the price drops and it will surely help us to protect us to make a profit when the price starts recovering again.

[Murat]

Don't think like this way, it's not a matter for you, it's a general issue for us who love trading, In recent time, the trading segment is not going well because of the market, it's true that you have to face such type of time because of having some personal indicator or emotional decision, either your analysis part wasn't enough to get a good result or you made decision based on your emotion so far, I know a lot of people who have lost a huge money by trading but those are not stopped yet, They made another attempt to make a good trading, in this way they are gaining profit from trading, so don't lose your hope.

[nicolas1979]

You only need to evaluate your strategy and mindset, because the biggest mistake is in there. Trading is not easy, need fund and time that maybe you only get experience not profit. Trading has purpose grow up fund not profit because have big fund make your step easier than before. Try to find your mistakes and never let other people make you down, good luck to you.

[Savemore]

What do you mean luck? Are you basing your decisions just because of luck? I think it is the problem why you lose in trading. You do not have effective analysis because your basing your decision base on luck. Change that poor mentality in order for you to improve your mindset while trading.

[cryptoloverlife]

What do you mean luck? Are you basing your decisions just because of luck? I think it is the problem why you lose in trading. You do not have effective analysis because your basing your decision base on luck. Change that poor mentality in order for you to improve your mindset while trading.

Yes, you are right some time our mindset will help us to hold the coin, but suddenly things will change, yes, even though we don't have a higher set of knowledge towards trading, but surely we should always react on time, sometimes it is based on the luck we have towards the market.

[mrBTCman]

I understand your problem. Honestly, I guess most traders do. The fact that you haven’t learned trading doesn’t necessarily mean that you are not fit for this activity. Maybe, you gust need to re-think if sources of knowledge that you use are good. How well do you know the situation on the market? In case if you can’t say which crypto coin has been the most volatile, use bots that will help you keep in touch with reality – https://t.me/CexIoInfoBot. Read the most important crypto news on sources like this one – https://cointelegraph.com/tags/cryptocurrencies and practice a lot. Wish you luck.

[Shimmiry]

I understand your problem. Honestly, I guess most traders do. The fact that you haven’t learned trading doesn’t necessarily mean that you are not fit for this activity. Maybe, you gust need to re-think if sources of knowledge that you use are good. How well do you know the situation on the market? In case if you can’t say which crypto coin has been the most volatile, use bots that will help you keep in touch with reality – https://t.me/CexIoInfoBot. Read the most important crypto news on sources like this one – https://cointelegraph.com/tags/cryptocurrencies and practice a lot. Wish you luck.

Not all traders are starting to earn a lot of money and profit because sometimes even you are knowledgeable about the capital, some unexpected issues may happen when you are trading. I think it is better if you know how to read graphs properly even you know how to sell, but sometimes the wrong prediction can cause a loss of income. One of the best ways to earn is understand when you sell and buy coins and if you are decided to wait better to hold your coins. You can explore more about some techniques.

[Gheka]

You only need to evaluate your strategy and mindset, because the biggest mistake is in there. Trading is not easy, need fund and time that maybe you only get experience not profit. Trading has purpose grow up fund not profit because have big fund make your step easier than before. Try to find your mistakes and never let other people make you down, good luck to you.

I don't think the biggest mistake is in his thinking and strategy, the biggest mistake is in the way he thinks about trading and blaming luck, he does not admit knowledge weaknesses and the assessment of his failure is because he has no luck. As you said, trading is not easy, we need to try to understand more about it every day, if we fail, unlucky is probably part but deep in it, that's how we enter the market, we really don't do anything wrong here, we're just going in the wrong direction, using inappropriate methods, and just adjusting, success will come.

[AliMan]

that happens to a lot of people, not just to you. Just continue to practice trading with small amounts. When you average the times that a traders missed the right buy or sell point, I think most of us are more in the negative. Trading will test your patience and sometimes it will seem that you're just out of luck. Good traders set this aside and continue to learn. If you want to be an efficient trader, then you shouldn't  let setbacks dictate your general outlook towards trading. It's a continuous learning process.

Correct and he shouldn't lose hope for those loses since he might gonna come up with an idea on how to trade properly by those experience and the only thing he need to do is to prolong our patience,learn the statistical movements of the market and deprive our fear aswell extend our patience on it since if we master it for sure a lots of income will come unto us.

But also maybe if he don't have enough bankroll for possible losses maybe I suggest it to him to use the site who offered trial phase or maybe just monitor and learn the market flow.

How can we learn to trade with that ways you meant to be? Since the market hasn't able to come up at good value ever since crashes unfortunately dragged down all potential rising coins. Your advise is somehow a good strategy in getting the trial phase, but maybe I'd be doing that when crypto markets starts to recover. Meanwhile, I would try to focus on holding my asset even though it was not yet increasing at good value; at least there's always a chance while seeing cryptocurrency is trying to recover right now.

[pundit]

Trading is actually one of the toughest task to do. Many people say "Trend is your friend" but catching trend is again not easy, once you are in, managing the position is something that needs more more attention. Trading should be done with proper planning.

1. First of all you need to have some strong base to take a trade, what are the market conditions that make you to think to go long or short.
2. You should have already calculated risk and reward. What do you get if this trade hit TP and what do you lose if it SL.
3. Keep emotions out of trading.

Practice on demo or very small account, once you skills get sharpen then only come to trade a real account.

[AbuBhakar]

Practice on demo or very small account, once you skills get sharpen then only come to trade a real account.

Simulators applications are good to try, we have real time market but not real money at risk. Sometimes it makes me regret not investing or trading when I use it in simulator. When you already understand the market and those techniques we practice in simulators that the time to risk by ourselves.

[Captain_CryptoMan]

I have also been in loss was in market since 2018 and was still holding when I bought the BTC at bubble...

Now I am doing SIP in bitdroplet.com/ around 15$ a month for long term investment to reduce my loss using DCA (Dollar cost averaging) technique...

[ChrisPop]

Luck is a very small part of the trading game. You see.. trading is one of the hardest activities in the world. If it was easy everybody would be making tons of money and living in palaces. There are certain skills that you need to master before considering yourself able to make constant profits from it. Those are technical analysis, risk management and controlling your emotions.

[gabbie2010]

Hello all,

need advise, if any exist
I am trading btc few years - but it seems I havent learnt anything. My plan was to use bitcoin volatility to earn some extra btc, but it seems I am not able to do this.
I am selling/buying always in wrong time. Using volume as only indicator, as others do not make sense for me.

Relying on volume indicator might not depict the over picture of the market thus resulting to your buying and selling at the wrong time, more so indicators do lagged with the price thus you might need one or two more indicators while taking your time to learn price action this would enable you not to be too much dependence on indicators there are countless numbers of valuable materials on the internet on price action which can serve as a guide to aid your trading journey.

[akmal1984]

Luck is a very small part of the trading game. You see.. trading is one of the hardest activities in the world. If it was easy everybody would be making tons of money and living in palaces. There are certain skills that you need to master before considering yourself able to make constant profits from it. Those are technical analysis, risk management and controlling your emotions.

It's not like we want to buy or sell goods whose prices tend to be stable or still within our estimates, yes. Trading really needs everything you say. Plus we must continue to learn and update the latest information at all times. So it's not like we buy a coin from ICO for example, then we hope that the price will go up. Trading is more complicated than that. And it will be very interesting if we really are professional in carrying out its activities

[wxxyrqa]

I have also been in loss was in market since 2018 and was still holding when I bought the BTC at bubble...

Now I am doing SIP in bitdroplet.com/ around 15$ a month for long term investment to reduce my loss using DCA (Dollar cost averaging) technique...

If you take into account investments in Bitcoin at the end of 2018, then this is almost a very profitable investment, compared to the prices that exist today.  But I did not understand the topic that you are talking about.  What do you mean that you spend $ 15 each month to buy bitcoin?  If so, then this is indeed a very good strategy to minimize your losses.  But it seems to me that $ 15 for such manipulations will be a very small amount.  Or did I misunderstand you?

[Capt00]

I am selling/buying always in wrong time. Using volume as only indicator, as others do not make sense for me.

Am I doing something completly wrong? Or it is not possible to predict the movement of btc?

I believe that you have already the key factor to succeed in trading but quite to say that you shouldn't just consider the market volume alone instead, you might consider also the factors that could affect the market trend. Believe it or not, even though you are using a basic strategy (buy/sell) you will also make money on it. The only thing that I might see is that you don't have patient, you easily get bothered when the price moves down after buying that push you to sell and lose.

[Oilacris]

I am selling/buying always in wrong time. Using volume as only indicator, as others do not make sense for me.

Am I doing something completly wrong? Or it is not possible to predict the movement of btc?

I believe that you have already the key factor to succeed in trading but quite to say that you shouldn't just consider the market volume alone instead, you might consider also the factors that could affect the market trend. Believe it or not, even though you are using a basic strategy (buy/sell) you will also make money on it. The only thing that I might see is that you don't have patient, you easily get bothered when the price moves down after buying that push you to sell and lose.

Even using the most basic strategy would really make some money if the said goal or target would be reached but this isnt always the case or would be needed from time to time.

Always consider to enter and sell out on a specific time if you do like to be profitable. Emotion is one of the factor that do affects our decisions towards it so we should really need to somewhat get rid
of this emotion if we do like to progress on our trading activity.

[Mumbeeptind1963]

It looks like its not about luck, its about patience and you have to educate yourself in reading charts and graphs. You cant rely only on volume. RSi will tell you if the coin is overbought or oversold, expect changes if either of that reaches its limit. Learn to use Bollinger Bands, it will help you decide if the trend will continue. And patience, learn to have a lot of patience, if price drops and its not what you expect, just hold and dont panic.

I am not an expert trader but, you cannot rely on volume only, I think there are some pictures in the internet that shows different pattern, by just observing the candlestick, and I think it is the best and easiest way for like us that is still learning in this market. Also, do not put all your asset in just one order, I mean you need to split it in a little higher than the last bid and little lower than the last bid, it is the easiest way that Im doing sometimes, I advice that you need a lot of patience in order for you to learn, one step at a time, read and watch trading tips online.