Trading mistakes

[mersal]

The main mistake of a trader is to hope for luck and trade manually

Trade manually is still the wise choice for any occasional trader but if they trade without making any analysis then it is not going to work in the long term. Biggest mistake of a trader is aiming big margin in a single trade, whereas the smart trader only aim for small margin and they can repeat the same method to make the same huge amount of profits with very low risk.

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[ethereumhunter]

Don't try to trade if you are not ready to make mistakes because, in trading, you will make a ton of mistakes. But that is not something you should afraid because if you can learn from your mistakes, you can survive in the trade, and you can improve your skills. With learning more and more lesson, you will find your trading style so you don't have to follow with other people ways because they will use different analysis than yours. As long as you can prepare yourself in any trading situations, you don't have to worry because you will be ready to enter the market.

[FanEagle]

I totally agree with all of them, they are very basic and I understand that people who have been here long enough knows all of this but do not forget that there are many newbies here who have no idea about what is going on, hence I think this makes sense to actually publish and show to newbies on what they should do.

There has been tons of people who lost money because they are followers of others and do what "experts" say without checking why they said what they said, they overthink and overtrade as well, all of these are common mistakes. Maybe margin is a bit rare because not many newbies do margin trading but that could be more like newbie to merging trader instead of generally being a newbie in the crypto world. Kudos for making this topic and putting these into words so skillfully.

[Sanugarid]

Most of the time the over trade is going to ruin your whole plan in trading, we keep saying that we need to be patient, wait til it reaches the peak then we always overlook the market as being a volatile race. If you are experienced trader, you will know when it is enough don't target a very high profit within a day coz spikes don't go that long. Don't be a follower, Be a trader there is nothing wrong to follow the trend or a person that is showing a good studied chart but putting it into a volatile and uncertain market it will be useless at all. "Uncertain" That's the keyword to do your own analysis with the market.

[abel1337]

Most of the time the over trade is going to ruin your whole plan in trading, we keep saying that we need to be patient, wait til it reaches the peak then we always overlook the market as being a volatile race. If you are experienced trader, you will know when it is enough don't target a very high profit within a day coz spikes don't go that long. Don't be a follower, Be a trader there is nothing wrong to follow the trend or a person that is showing a good studied chart but putting it into a volatile and uncertain market it will be useless at all. "Uncertain" That's the keyword to do your own analysis with the market.

Overtrade is I think the most common mistake of the newbies, I've even experienced it before. Being greedy with the profit you want to get and end up losing because of the fast-paced spikes that you aren't expecting. Overtrades are somehow effective on some trade but it has a lot of risks to carry on because somehow you are trading blindly because you are rushing and not following the plan you make for the trade. Following the plan for a certain trade will always be effective than rushing and overextending your imagination on the profit you can possibly get on that day. Being greedy in trading is bad though.

[milewilda]

Most of the time the over trade is going to ruin your whole plan in trading, we keep saying that we need to be patient, wait til it reaches the peak then we always overlook the market as being a volatile race. If you are experienced trader, you will know when it is enough don't target a very high profit within a day coz spikes don't go that long. Don't be a follower, Be a trader there is nothing wrong to follow the trend or a person that is showing a good studied chart but putting it into a volatile and uncertain market it will be useless at all. "Uncertain" That's the keyword to do your own analysis with the market.

Overtrade is I think the most common mistake of the newbies, I've even experienced it before. Being greedy with the profit you want to get and end up losing because of the fast-paced spikes that you aren't expecting. Overtrades are somehow effective on some trade but it has a lot of risks to carry on because somehow you are trading blindly because you are rushing and not following the plan you make for the trade. Following the plan for a certain trade will always be effective than rushing and overextending your imagination on the profit you can possibly get on that day. Being greedy in trading is bad though.

Its unlikely to happen when in talks about overtrades specially to newbies.Why? they cant have that long run on managing their funds or capital until they do bust up which means it would really be a on shorter duration and thats why it wont really be making over trades unless if we do talk about on
capital management which are outside on risk management rule then thats considered over - there were lots that can be defined in the term "over".
So you do actually have the right point also and this is a common mistake not only applicable on noobs but also on other older traders as well.
Also following other so called professional traders arent really that worth because they wont make themselves as gurus if they are indeed profitable.

[TheGreatPython]

There could be 100s of mistakes a trader may commit but the thing is being disciplined and following all the own set of rules on being  emotion-free along with managing funds properly under risk management will help any trader to avoid all those mistakes. I mean when we are good at our part consciously then there will be no room for any mistakes. Only when a trader get excitements or frustrations they start committing mistakes which usually end up in losing capital.

I do not mean that we need not to get educated on some of the possible mistakes a trader may do. It will definitely help any trader to get some awareness and also will lead to find a solution. But, there are multiple reasons for a same kind of mistake hence we cannot document all of them but the only way for a trader to avoid all the mistake is, learning from their own experiences.

Yes, your experience will help you not to REPEAT a mistake. It means you may commit a mistake for the first time and you should learn a lesson from it to avoid the same mistake again.

[BitcoinTurk]

There are dozens of factors to consider when trading. Apart from a few factors you mentioned, a few mistakes are as follows;
- Not using stop loss
- Panic buying and selling
- Using high leverage
- Failure to determine profit and loss rates correctly

In addition to all these, the biggest mistake we make while trading is to be greedy and to always expect a profit margin above the targets we set.

[Paycoinzzz]

We can still follow reputable traders in some margin exchanges. I am currently copying trade with the masters of the prestigious trade group. provided that you have to register according to their ref link so they have the motivation and the correct transaction. Besides, there are expensive bots that trade very well, winning rates up to over 90% but we have to pay $ 200 / month to use it. In general, we can still copy, but choose the right account to do it.

[MCobian]

Of all the trading mistakes mentioned in the opening post, there are at least two that I have done. The first is over trading, sometimes if we
have made a profit. We keep trading which in the end we forget that the crypto market is volatile, and finally the profit we get can be lost.
Or the profit we make can be reduced, because we don't know when to stop trading. Then my second trading mistake became someone else's
follower, whose analysis was not necessarily accurate. My advice believe in your own abilities when trading, and do trading planning carefully.
So that you can avoid trading mistakes, and making the profit we want.

[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.

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.

But I think it is a mistake by traders.

If you really know what you are doing, you will never rush things, you will never be impatient with your investments, with your trades since sudden decisions mostly fruits to mistakes. That is why we should be really aware of that.

[Yatsan]

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.

But I think it is a mistake by traders.

If you really know what you are doing, you will never rush things, you will never be impatient with your investments, with your trades since sudden decisions mostly fruits to mistakes. That is why we should be really aware of that.

Being impatient will go to emotion as general. Emotion are the one that is making our trading plan go to shit. Personally, it is always happening to me when the price go dump I will immediately sell my holdings because of my emotion even though my plan is not that and after that dump the price is going to pump and will reach my expected price. By telling that story we should always remember that go with our stop loss and don't be greedy and set a take profit.

If you are taking profit make sure you set it in at least 5 levels. so if the coin you are holding reach at least 3 and dump you, at least you are gonna have some profit. back to the topic, if you can handle your emotion then, I am positive that you can trade well. 

[maydna]

I think it is normal if we make a mistake in trading because we can do a wrong analyzing, especially if we cannot focus on analyzing the market. We can prevent to make a mistake by analyzing deeper on the bitcoin or altcoin market so we can get the right time and right price to buy and sell the coin. We should not be afraid of making a mistake because that is part of our lesson so we can get more information to get better skills in the future. But I think if we are not prepared, and we are too greedy in trading, we will not be able to make a profit, so we need to control ourselves and hold ourselves become greedy.

[drlukacs]

 There will be lots of bugs for newbies. Often they will have psychological problems and profit calculations. Traders who plan and follow the rules are highly likely to succeed. so newbies need to know that this is a market full of manipulation and very volatile prices. The first step to learn is to control psychology and always prepare your own trading strategies. as long as you do the above 2 things, you are sure to have a 70% win rate. The remaining 30% is due to capital management and knowledge of how to use indicators.

[justdimin]

You can't learn trading without mistakes, don't be afraid of making mistakes, do not be upset that you made a loss in trading.

If you are trading and learning, there will be bumps in the road, it is important to learn from these mistakes instead of just be upset about it. If you go into bitcoin with 1000 dollars and now you have 200 dollars, if you are sad, if you are angry, and all around you are disappointed and get out, you have just lost yourself 800 dollars and you have nothing in your hands to show for it.

However if you learn why you did lose that much to begin with at the very least you will not make the same mistakes again. If you collect all of these reasoning why you did make these mistakes, you will eventually make a profit and all of those mistakes will be helping you find the correct path that earns you money.

[Utoy101]

TBH,  being well prepared for trading and knowing about possible mistake common to trading can only take you so far, after that you'll have to work with your gut to be able to take risk and that's reminds me,  you can't trade successfully without mistakes and that's why not the majority of traders population are millionaire so making mistakes while trading is welcome as it's the best way to gather experience especially for novice traders but then again, no one loves losing and that's why everyone is trying really hard to minimize mistakes

[quality.crypto]

The main mistake of a trader is to hope for luck and trade manually

How can you work differently? Do you mean using additional software?

Yes, of course, there have long been trading bots that significantly simplify trading. Look, there's a lot of information about this here. https://tradingbot.info/bittrex-trading-bots/

Without knowing the basics about the trading directly it is not good to follow trading bots and trading signals because basic knowledge is always important for trading. Trading is long term things and it is not a good idea to follow the signals and bots provided by the others, even though it takes time but we need to learn things.

[Dollar_Hunter]

trading on the futures market makes me tired, i have lost $ 500 on the futures exchange,
i know my mistake is to want to have more profit and it makes me sick

[hulla]

trading on the futures market makes me tired, i have lost $ 500 on the futures exchange,
i know my mistake is to want to have more profit and it makes me sick

Wanting to make more profit was not totally your mistake but the high risk involved in the form of trading you choose and the same thing apply to margin trading and i will advise you to desist from such trading while you understand verywell the basic form of trading.

[Kelvinid]

trading on the futures market makes me tired, i have lost $ 500 on the futures exchange,
i know my mistake is to want to have more profit and it makes me sick

You choose to trade and probably you are willing to lose either. But there is one thing you have forgotten is how to learn trading in the first place.
Overly trading is not a good practice. You could think that we trade big amounts will eventually give us more profit in a short period of time? Not really and the risk you have face is very high and surely it is higher since you don't know much about trading. You are desperate enough to gain profit quickly and that is why you end up losing.  We should have to be patient.