Trading mistakes

[Peanutswar]

Today there are some people would like to join the world of trading but some of them are going to afraid to lose their money because they don't have enough knowledge. It is not hard to find a lot of information because of the help of the search engines like Google and we have now internet also with the help of the forums and platform that are giving some ideas about the world of trading. I'm not a professional trader I just trade for over a month and here are some of my trading mistakes that the beginners do too.

NOT PREPARED
Sometimes most of us are going into the world of trading without any preparations just the only thing we should know every day is having a profit which is not good sometimes if you would like to make trade also it is better to prepare your self getting too much excited to earn more profit pull us towards to make more mistakes like when the market is going into upward trend more likely we want to get buy and we set aside how to read the graph properly and what are the next movement of the chart upward or downward trend.

There are people who learn trading base on the knowledge they earn through self-study but still, there are some people who gain knowledge depends on their experience if you are a trader like that it is better you prepared your self to have a starting money or capital just to earn knowledge.

Today we have now trading simulations that help you to make a trade with a real-time chart I highly encourage traders who would like to practice.

ExpertOption Figure(1)

PROFIT ON TRADING
There are people who really love to make trades and some of them are making a trade for over four (4) times above each day and we called them as the scalpers those are a person who wants to make more profit every time they trade also they are one of the most risk-takers because they have a specific goal each day to earn. Still, there are some people just trade over two times a day as an extra income. Trading is full of risk it depends on your capability to gain more money again we have a favourite statement "Don't trade that you cannot afford".

OVER TRADING
This is commonly happening to us because sometimes we are getting too much greedy don't marry your trades. Most of us already make a huge market profit into the world of trading and we have different sets of goal in terms of profit. Some people want to have 50%, 70% or over 100% profit, remember the market is volatile if you already gained profit and you are not sure what are the next movement of the chart get your profit. For example, you make an entry into a 9800-9900 dollars of the market price of the bitcoin and as getting too much expectation of the market price of the coin the market price is starting to fall that you can see on the figure(2). Also, don't get to be Fear of Missing Out (FOMO) on your trades sometimes we win and lose our trades but the most important is to win a profit.

Figure(2)

KNOW YOUR MARGIN TRADE
Margin trading sometimes can be your friend sometimes can be your enemy having a good market long or short. Leverage will help you to make more earning but if you cannot afford the trading margin you request it will cause to your income and balance will be gone. Recently one of the platforms releases that they increase they leverage is binance from 20 - 125x Figure(3). If you win having this leverage it is good the higher profit you will get but if you lose with the huge amount of leverage and reaches the liquidity price prepare your self to have a goodbye to your money.

Figure(3)

DON'T BE A FOLLOWER, BE A TRADER
I know some of you are already joined into chatrooms and group pages that are talking about market trading some of them having a conversation that they already earned up to $40-100 profit and as a person that you would like to make earning too you will follow the movement they did just to earn Figure(4). Don't follow them to make your own path, explore what are the coins and strategy that will give you a lot of market profit.

Figure(4)

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[Gozie51]

You have said quite a number of things that can lead to mistake and I pick on over trading. Yes this can make you lose some money. How frequent you make an order is a key to watch. The market gives you a sign though but you need to be careful because some are mere trap. Advise here is to make a reasonable amount of order but not to always be at the door of the market and looking out for entering position.

[dunfida]

KNOW YOUR MARGIN TRADE

Dont dive into this thing when you are just starting up to trade yet come to think even veterans do really have a hard time to deal with
margin yet i can say that this is some sort mix with gambling and if you dont know how to bust up in a short time then its
better not to consider this one first.

OVER TRADING

You should really set specific limits or call it a day when you do trade.Set goal and dont ask for more
The important thing is that you do able to have green results and dont be greedy because this
might give the opposite.

[harizen]

Today there are some people would like to join the world of trading but some of them are going to afraid to lose their money because they don't have enough knowledge. It is not hard to find a lot of information because of the help of the search engines like Google and we have now internet also with the help of the forums and platform that are giving some ideas about the world of trading. I'm not a professional trader I just trade for over a month and here are some of my trading mistakes that the beginners do too.

Honestly speaking, even with the general information spread around our favorite search engines and platforms about the basics of how to start doing trades, it's not easy for a newbie to just follow it.

Sometimes they really need to experienced those trading mistakes and errors in order to understand the pressure. There are no perfect trades so a mistake is usually common. If these newbies are really eager to learn, they can soon come up with an idea of how to deal with the market while at the same time, creating their own strategy based on their analysis.

There is no shortcut here. Experienced is the best foundation.

[bitbunnny]

To my opinion some of the most often mistakes that traders make is lack of risk assesment and greed
They get in too easy thinking they can handle everything and want big profit really fast.
But that is a trap and maybe you can afford to fall into it once but not more than that.
Practice makes perfect, so they say, and successful trader comes with experience but that often means that some had to learn on many of their mistakes.

[jhonjhon]

I love this thing...
#DON'T BE A FOLLOWER, BE A TRADER
But it was a need to have a mentor and teach you everything about trading. And of course, it is not about copy trading which some traders use it.
I don't think it considers a big mistake in trading because it is actually we need to follow what the others and might be mirroring them as they had been in success for that way. Of course, I will do the same strategy as what pro traders did.

[gantez]

I love this thing...
#DON'T BE A FOLLOWER, BE A TRADER
But it was a need to have a mentor and teach you everything about trading. And of course, it is not about copy trading which some traders use it.
I don't think it considers a big mistake in trading because it is actually we need to follow what the others and might be mirroring them as they had been in success for that way. Of course, I will do the same strategy as what pro traders did.

I think the area I want to look at this is that the follower can be doing this for a long time and leaving to develop himself. In his failure of trying, he then relies on a mentor's idea permanently. Most of the cause of this is fear to be independent.

[Kemarit]

If I may add, usually those beginners really thinks it is easy to profit here and enter trading without proper knowledge of how everything works. You have to think that you are playing with real money here, so everyone needs to be very careful and learn the system first before venturing. Because if you get inside trading, you will be suckered and will loss everything in just a blink of an eye. There are too many advises floating around, but the simplest way to avoid this mistakes is just educate yourself first. And then grow as you gain experienced. There are no shortcuts here, you need to spend a lot of your time and money to be a successful trader in the future.

[LUCKMCFLY]

One of the biggest mistakes when operating is that the plan that is made must be followed and must not be changed, when the probability of failure is very high when changing at the last moment, apart from when the main focus is on technical analysis and not on understand or try to understand the market.

[Latviand]

NOT PREPARED
Sometimes most of us are going into the world of trading without any preparations just the only thing we should know every day is having a profit which is not good sometimes if you would like to make trade also it is better to prepare your self getting too much excited to earn more profit pull us towards to make more mistakes like when the market is going into upward trend more likely we want to get buy and we set aside how to read the graph properly and what are the next movement of the chart upward or downward trend.

There are people who learn trading base on the knowledge they earn through self-study but still, there are some people who gain knowledge depends on their experience if you are a trader like that it is better you prepared your self to have a starting money or capital just to earn knowledge.

Today we have now trading simulations that help you to make a trade with a real-time chart I highly encourage traders who would like to practice.

Never engage in trading if you're not prepared, especially if you're being to confident and overwhelmed about the market. You always need to make a strategy and do technical analysis in the market, never trade if you're not prepared and you have no idea on what will you do during a trade. The most dumbest thing to do in trading is engaging in without even having an idea about the strategy that you will do based on the situation and circumstances in order to have huge profits.

OVER TRADING
This is commonly happening to us because sometimes we are getting too much greedy don't marry your trades. Most of us already make a huge market profit into the world of trading and we have different sets of goal in terms of profit. Some people want to have 50%, 70% or over 100% profit, remember the market is volatile if you already gained profit and you are not sure what are the next movement of the chart get your profit. For example, you make an entry into a 9800-9900 dollars of the market price of the bitcoin and as getting too much expectation of the market price of the coin the market price is starting to fall that you can see on the figure(2). Also, don't get to be Fear of Missing Out (FOMO) on your trades sometimes we win and lose our trades but the most important is to win a profit.

Sometimes you need to know your limits, never trade too much, learn how self-control and manage your emotions. Don't be too hype if you're having a continuous profit, learn to rest and reflect on those results of your trading. Being greedy about trading will really make you lose what you've earned for, practice that mindset and never expect too much. Never trade if you're overwhelmed and happy because that will boost your confident and will let you trade unnecessarily.

DON'T BE A FOLLOWER, BE A TRADER
I know some of you are already joined into chatrooms and group pages that are talking about market trading some of them having a conversation that they already earned up to $40-100 profit and as a person that you would like to make earning too you will follow the movement they did just to earn Figure(4). Don't follow them to make your own path, explore what are the coins and strategy that will give you a lot of market profit.

Make your own way and strategies in trading, get inspired but never copy their ways of trading. Do your own thing and become effective just by observing and learning from other people, but never copy. Being a trader, you need to grow with your own mindset and make effective transactions in trading. It is not bad to fail, every failure is a lesson and you should reflect on that, but if you fail over and over again without learning, then we will have a problem about that.

[TheUltraElite]

The things said by the OP are good but traders will mostly go buy their guts and following TA what they think will happen. "Being prepared" is a cliche term and nobody is every prepared, let me tell you that. Everyone learns from mistakes.

Similarly there is no "real bottom to buy". Even after a drop the price may continue to drop, so no issue, just buy more at the next support. Overtrading is an exaggeration, not a fact.

Of course dont copy trade, because it is a wrong method of trading since you are not doing your own research about the asset but blindly investing.

[Wexnident]

They're all pretty common mistakes and I have no doubt everyone who has started trading has experienced them all. I mean, the experience is the key to success, whether it be a success or a failure. Being prepared is the same as not being prepared imo, since the market is highly volatile and even if you make a preparation for the market at one moment, the market could completely go to another and vice versa. Even if you make preparations for every scenario possible, I doubt it could still help you that much with the market's everchanging movements.

Not overtrading is pretty much the same as don't trade in my books. I mean, being satisfied is good and all but if given the chance, I would continue trading on of my own accord. It's not like you profiting 100% in a single day guarantees you a loss for the subsequent trades you'd do on that very same day after all.

One of the biggest mistakes when operating is that the plan that is made must be followed and must not be changed, when the probability of failure is very high when changing at the last moment, apart from when the main focus is on technical analysis and not on understand or try to understand the market.

That's highly optional imo. Changing plans is a standard choice when it comes to a market that changes every minute and sticking to a plan that you'd know would fail would also mean a bad plan right? So why not change it to the one you'd think is better? It's not like changing plans is bad but rather changing plans with no idea what is happening is the bad one.

[Assface16678]

There are a lot of people said that trading is one of the basic things we can do to make more money rapidly but this is a mistake because there are a lot of people focus on the market graph all day just to make sure they long will be in a good entry price and still there are some traders making trades but does not have enough knowledge that pulls their down over into their loss of money. Some of the traders today are just encourage only by the advertisement that they can make more money in trading and one of this is the copy trading just to make investment and someone will make a trade for you and I do not prefer this kind of action or method of earnings because why do you sacrifice your money to the people you do not know if he/she is good in trading it is just like you are giving your money. Also, there are a lot of traps in the market it is better if you make a research about the different forms of the graph so you can identify when is the market time to buy a lot of coins.

Also avoid trusting to the groups, pages and other people stating that you can make a lot of profit if you do this or you will do that because all the things you make is all about your decisions you cannot blame others because you agree with them help your self to earn a lot of knowledge and skills in the world of trading don't become dependent.

[rodskee]

NOT PREPARED
Sometimes most of us are going into the world of trading without any preparations just the only thing we should know every day is having a profit

it is not that they  are not prepared but instead most of them are just being encouraged and promised
 a easy money thats why they enter this world of trading and crypto.

There are people who learn trading base on the knowledge they earn through self-study but still, there are some people who gain knowledge depends on their experience if you are a trader like that it is better you prepared your self to have a starting money or capital just to earn knowledge.

for me ?it is better that we enter trading because we have studied this and also have some experience
 outside crpto trading(maybe stocks or anywhere that their skills had been enhanced)

Today we have now trading simulations that help you to make a trade with a real-time chart I highly encourage traders who would like to practice.

yeah and many exchange now giving us opportunity to practice trading without spending a cents
 and this is a big help for aspiring trader in future.


Nice thread Mate,continue spreading knowledge in forum .

[Janation]

how about being impatient?

Maybe it would go under not prepared since most of those people that are impatient do not know what to do in time they are waiting for their investments to grow. Another thing with being a follower is that you learn things from people but it depends on how you will be using that skill or knowledge you've learned.

[Lorence.xD]

how about being impatient?

Maybe it would go under not prepared since most of those people that are impatient do not know what to do in time they are waiting for their investments to grow. Another thing with being a follower is that you learn things from people but it depends on how you will be using that skill or knowledge you've learned.

Being impatient should be an innate trait when you want to trade, I too am an aspiring trader, though I do not trade yet, I am doing my research to learn as much as I can until I saved up enough funds for trading, I can agree with being a newbie trader, you should follow and find a mentor, but do not just follow to the point that you become a sycophant, use your common sense (another innate trait), the decision always end with you and not with other people. I really this kind of testimonial threads, they help me watch out for mistakes that I could've missed and I am grateful that people are sharing their mistakes and success, both people are equally inspiring.

[coinfinger]

I really like the last point you made there. Some people are just following groups and are only reading and hearing stories of people that are making money, while they are not, all they do is just to be reading stories lol. It all doesn't make sense, instead of joining groups and reading stories that would lead you to nothing, it's always best to spend your time on YouTube and Google looking for help.

There are lots of videos where YouTubers take out as much time as possible to teach people how they can perfectly carry out their trades. There are also lots of articles that one can read on Google, and if they are not enough, you can still check online stores for books to buy and read.

[dominos]

DON'T BE A FOLLOWER, BE A TRADER
I know some of you are already joined into chatrooms and group pages that are talking about market trading some of them having a conversation that they already earned up to $40-100 profit and as a person that you would like to make earning too you will follow the movement they did just to earn Figure(4). Don't follow them to make your own path, explore what are the coins and strategy that will give you a lot of market profit.

I know this is hard because we as people want to have somebody who will be the leader and when somebody is not going predicted way, we have other person (leader) to blame. But in trading these type of behaviour will lead to $0 on your account, because you not learning anything by just copy somebody and most probably you will be on the last chain link which money is flowing into leaders pockets.

[samcrypto]

There’s so many thread about the trading mistakes, and they are all correct and as long as a trader didn’t learn from their mistakes then it will continue to happen to them, they’ll keep losing money.

One of the biggest mistakes when operating is that the plan that is made must be followed and must not be changed, when the probability of failure is very high when changing at the last moment, apart from when the main focus is on technical analysis and not on understand or try to understand the market.

Yes, trading is about sticking to the plan and always following it. As a trader we must come ready and prepared because if we don’t make any research then our trading will be failed. Mistakes is normal but don’t do the same mistakes all over again.

[rexxarofmoknathal]

There’s so many thread about the trading mistakes, and they are all correct and as long as a trader didn’t learn from their mistakes then it will continue to happen to them, they’ll keep losing money.

One of the biggest mistakes when operating is that the plan that is made must be followed and must not be changed, when the probability of failure is very high when changing at the last moment, apart from when the main focus is on technical analysis and not on understand or try to understand the market.

Yes, trading is about sticking to the plan and always following it. As a trader we must come ready and prepared because if we don’t make any research then our trading will be failed. Mistakes is normal but don’t do the same mistakes all over again.

I'm mean yh there's that sticking to the plan but sometimes there are circumstances mainly caused by the market volatility which does not allow the trader for any flexibility within that well devised plan so best to stick to familiar contingencies when that happens.