Trading mistakes

[imstillthebest]

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.

based on what he said i can sense that he got greedy and resulted for him to continue trading with higher amounts and he forgot to withdrew as early as possible before so he looses all his gains . it his mistake if i were to ask . its not the fault of trading because trading isnt the one that decide or make a move .  trading can be a high risk or low risk depending your moves or depending on your placed amounts . 500 usd is a slight high amount but its not the end of the world, money is nothing . we can earn it again but lets no try to comit same greed manner

[AmoreJaz]

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.

definitely, having TA knowledge is an advantage when you are in trading. though most TAs are not applicable in most altcoins, yet you have the advantage of understanding what might be happening in the market, generally speaking. also most trading bots or trading signal groups dont work in favour of the trader but rather who owns that particular group or bot.
it is right, it is better to learn the basics and know the ins and outs in crypto instead of relying those auto features. you will find out sooner or later, that your effort will paid off by better returns rather than relying on signals (you can compare if you have prior experience using those autobots/signals)

[AniviaBtc]

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.

Every trader should be prepared when they do it in an actual transaction so that they will not be stressed and panicked about the certain situation. Most of the traders are losing their money because of the wrong strategy that they are using, no one is exempted when it comes to risk, people are all vulnerable about risks.

Risk management should be practice and apply so that whenever you trade, you can minimize your losses and you know how to cope up based on the situation. Being flexible and learning to adjust is essential to become an effective trader as you grow and understand things in trading.

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.

Over trading is really too much and can increase your risk of losing than earning profits. In trading, there should be a limitation about the money that you are going to use and limit yourself. Patience and self-discipline is required for you to handle your emotion to know when to stop trading.

[bearexin]

If you're going to be trading on Expert option, IqOption and other similar platforms, then you don't really have to put in money to be able to have the experience and learn how to trade. Majority of them now have a demo account that shows a real time trading chart that you can use to practice how to trade with a $10,000 fake dollars in the demo account that you can use.

So, you can use the demo account and learn everything you need to learn before you start funding your account and trading for real. Even without that, I think investing and trading with real money while you have no understanding of how trading works is really not a thing to do.

[Blue_oxen]

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.

definitely, having TA knowledge is an advantage when you are in trading. though most TAs are not applicable in most altcoins, yet you have the advantage of understanding what might be happening in the market, generally speaking. also most trading bots or trading signal groups dont work in favour of the trader but rather who owns that particular group or bot.
it is right, it is better to learn the basics and know the ins and outs in crypto instead of relying those auto features. you will find out sooner or later, that your effort will paid off by better returns rather than relying on signals (you can compare if you have prior experience using those autobots/signals)

Agree! Some people are so naive to believe in TAs and trading signal groups! "There ain't no such thing as a free lunch"! It's always the best to equip yourself with a certain knowledge base! The very first thing you should invest in is the time to learn, to explore, to understand the knowledge as well as the trading techniques, trading skills, and analyzing skills.

[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.

based on what he said i can sense that he got greedy and resulted for him to continue trading with higher amounts and he forgot to withdrew as early as possible before so he looses all his gains . it his mistake if i were to ask . its not the fault of trading because trading isnt the one that decide or make a move .  trading can be a high risk or low risk depending your moves or depending on your placed amounts . 500 usd is a slight high amount but its not the end of the world, money is nothing . we can earn it again but lets no try to comit same greed manner

You maybe right about the user to loose his investment because he was greedy but aside that futures trading is different to other form of trading in the market and highly risky either because traders are required to make future price predictions, despite the volatility in nature of crypto market.

[bitgoldpanther1978]

Thanks for giving the  reason of Trading Mistakes, Perhaps this was all based on your experienced, isn't right?
but of course, on my experienced applying over trading is one of the best thing I did, though there's a lot of
loses I've encountered but as time goes by I learned from my mistakes and now so far so good that earned most often
by doing it in the market.

[wozzek23]

Some people are so naive to believe in TAs and trading signal groups! "There ain't no such thing as a free lunch"! It's always the best to equip yourself with a certain knowledge base! The very first thing you should invest in is the time to learn, to explore, to understand the knowledge as well as the trading techniques, trading skills, and analyzing skills.

Yes, experts are always suggesting about going for generating trading signal by their own technical analysis and also about not depending on trading signal groups. In my opinion also, it is making sense because you need be good at your skills to be independently successful traders. Only our own knowledge will be helping us all the times to avoid mistakes because just getting signals alone will not be enough as you need to make some decisions time to time and if you fail at that then you may commit mistakes to losses.

you can use the demo account and learn everything you need to learn before you start funding your account and trading for real.

Yes, demo accounts are always helping to avoid mistakes. I believe demo account concept must be an integral part of successful trading. People who are not making use of demo accounts might be making their own mistakes to learn the real time lessons of markets. I mean demo accounts help costly mistakes with actual capital.

[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.

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. 

So, can we include it in these mistakes?

Humans are vulnerable to this types of emotions, that is why a lot of people are addicted to gambling. I know that this might not be a mistake but a flaw humans have. Mistakes tell us that we are human, there is no such thing as a perfect individual, so yeah, saying all of this, I can say that if they can't control their emotions, they will not be that good in terms of trading and investing. Hence, it is also a mistake by us, trades, and investors.

[crwth]

Those types of reasons are probably what could make or break your trading career. I believe that it's not too late to make yourself on the right track when you are talking about the right attitude and characteristics that you need to master to be consistent in trading.

I will take the headings of your trading mistakes and just add little thoughts.

• Preparation: You could do something about it by learning the strategy you are going to master
• Profit Mindset: No one got rekt by trading profits
• Overtrading: Just because you are profiting on other pairs, doesn't mean it's going to be the same with all of them
• Margin Trading: Don't expose yourself to something that you know little to nothing about. Learn Leverage
• Be a trader: I think no one has gotten devastating results just because they followed someone. It's still up to the trader on what he will do with the discussion on who he is following. Be yourself and know what you are doing.

If people are starting to get tired of it or it's a repetitive thing, maybe get a bot and let it trade for you, that would be better.

[Vitalicus]

Those types of reasons are probably what could make or break your trading career. I believe that it's not too late to make yourself on the right track when you are talking about the right attitude and characteristics that you need to master to be consistent in trading.

I will take the headings of your trading mistakes and just add little thoughts.

• Preparation: You could do something about it by learning the strategy you are going to master
• Profit Mindset: No one got rekt by trading profits
• Overtrading: Just because you are profiting on other pairs, doesn't mean it's going to be the same with all of them
• Margin Trading: Don't expose yourself to something that you know little to nothing about. Learn Leverage
• Be a trader: I think no one has gotten devastating results just because they followed someone. It's still up to the trader on what he will do with the discussion on who he is following. Be yourself and know what you are doing.

If people are starting to get tired of it or it's a repetitive thing, maybe get a bot and let it trade for you, that would be better.

All of the information that you gave are super and sooo helpful. However, I don't agree with the advice to get a bot and let it trade for you. A trading bot is simply a machine that works based on your command! Therefore, as long as you are not sure about your decision, the bot can't work efficiently.

[pawanjain]

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.

To be honest, you are just over-sighting this fact. While I agree on the moral that we should not follow and trade based on our knowledge but this differs in the given situation. If you are a newbie, it would be better to start with referring to how others trade and then learn from them and their mistakes and gradually improvise your trades.

Obviously we should not fall far those celebrities promoting some shitcoins and over exagerated trading speculation and statements but we can learn from experienced traders on how they trade. I know a friend who is good on trading and I followed him and learnt how he trades and later I built my own strategy started trading.

[davinchi]

If you try to cover all possible mistakes a trader could make then probably you may get a university approved doctorate too, because there are uncountable way/possibilities for traders to make mistakes, but still traders are finishing off their trades in profits just because of making use of their experience. Only inexperienced traders may make mistakes and over the experiences they start minimizing the mistake happening occurrence which slowly helping them to be professional traders.

In my beginning days a a forex trader, I was losing all my capital more frequently then started making use of free bonus provided by some exchanges and slowly started caring my capital from losing which helped me to prevent mistakes. When we start showing our dedications then mistakes may not happen in frequent manner.

[TheUltraElite]

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

Then you are speaking of gambling and not trading.

Spot trading needs skills and is not a mere play of luck. People work it out and try to match it though not every time do the indicators work out like a puzzle. Still people make money by speculating and buying low and selling at high prices. Some even go for the risky things like margin trading, Futures and Options which are the derivatives market provided by some exchanges.

Now if you are doing your homework on this and investing in those coins that are having a long term value, that is bitcoin only () Then it is no longer a gamble but a good long term investment provided that you sell at a profit.

[carlisle1]

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.

Absolutely mate ,Trading is not always buying and buying we must understand that even how sure we are in the coins we made researches yet there comes a time that may lose and fail.

Experience is required to trade. it's nothing to try to to with fate Gambling usually depends on luck We always need to trade small amounts to avoid trading mistakes it's foolish to be greedy initially then make more profit. When trading you ought to attempt to buy the currency at a lower cost and sell it at a better price Before that you've got to see the coins well it's better to form future investments to urge more profit.

and not only experience but dedication also,imagine that the life of trader circling around only in front of computer and they will focus all time in their trading screen.

but all the effort will prosper in time.

Thanks for giving the  reason of Trading Mistakes, Perhaps this was all based on your experienced, isn't right?
but of course, on my experienced applying over trading is one of the best thing I did, though there's a lot of
loses I've encountered but as time goes by I learned from my mistakes and now so far so good that earned most often
by doing it in the market.

we must be thankful because OP shared this thread for our own benefits in future as we can use this as reference for our trading journey.

[Assface16678]

Experience is required to trade. it's nothing to try to to with fate Gambling usually depends on luck We always need to trade small amounts to avoid trading mistakes it's foolish to be greedy initially then make more profit. When trading you ought to attempt to buy the currency at a lower cost and sell it at a better price Before that you've got to see the coins well it's better to form future investments to urge more profit.

If you are just new in trading and you want to make a lot of knowledge not just by the reading a ton of articles, news, tips, and tricks and watch a bunch of videos I think you may have a problem for the next coming trades because you just need to have a good experience in trading at the same time is knowledge on trading not only having knowledge. Still, we have different respective on learning some of the people are having a good time to learn with the use of watching and listening only to the videos they are watching some of them are reading only and then they are now skilled on trading and some of them are making a real trade to gain experience regardless how much money they use on to make a trade.

If you are the typical person you want to trade and gained knowledge and learning in trading with the use of your experience I think you just need to have a capital or investment on this kind of method because on your first try there are a lot of possible things may happen towards to loss on your trade and by that, you learn your skills and how to avoid this kind of action which is good because you learn but still your lose money. If you are continuously doing this there are two chances you give up because you lose all of your funds or gain more money because you acquired a lot of skills.

[el kaka22]

Have you ever actually made a mistake. Like literally just write a wrong amount and so forth? I did that once years ago and ever since those days it is very scary for me as well, I have been trying to avoid it by checking it multiple times before I can actually click the trade.

I was trading something called namecoin or something, back in the day when you were mining bitcoin there was some other coin (not sure if it was namecoin or something else) that you mined together with bitcoin at the same time, and it was even worthless back in those days let alone now. I had gathered enough to make it about a dollar I think and instead of changing my namecoins to bitcoin during the trade I changed my bitcoins to namecoin. Since, there was very little market for it, it took me weeks to sell all my namecoins small by small in order to make that profit.

[ampere]

Mistakes are not new to mankind, so trading mistake is also not different, and it doesn't define who a trader is.
Your reaction and countenance after a trading mistake matters instead.

So i encourage you traders, whenever there is a trade mistake accounting to a loss, avoid blame game, accept responsibility, find out why and where it gone wrong and fix it ultimately by relearning and perfecting so such mistakes never occur again.

Remember that we learn daily.

[Kasabus]

Mistakes are not new to mankind, so trading mistake is also not different, and it doesn't define who a trader is.
Your reaction and countenance after a trading mistake matters instead.

So i encourage you traders, whenever there is a trade mistake accounting to a loss, avoid blame game, accept responsibility, find out why and where it gone wrong and fix it ultimately by relearning and perfecting so such mistakes never occur again.

Remember that we learn daily.

Yes. Mistakes in trading should never be dealt negatively because it's the only way where we will learn and improve our trading strategies. As long as we trade only with the amount we can afford to lose, then it's fine to commit mistakes in our first months in trading. Everything can be learned in trading and with experiences, we will end up trading gaining more profits than losses.

[Quidat]

Mistakes are not new to mankind, so trading mistake is also not different, and it doesn't define who a trader is.
Your reaction and countenance after a trading mistake matters instead.

So i encourage you traders, whenever there is a trade mistake accounting to a loss, avoid blame game, accept responsibility, find out why and where it gone wrong and fix it ultimately by relearning and perfecting so such mistakes never occur again.

Remember that we learn daily.

Yes. Mistakes in trading should never be dealt negatively because it's the only way where we will learn and improve our trading strategies. As long as we trade only with the amount we can afford to lose, then it's fine to commit mistakes in our first months in trading. Everything can be learned in trading and with experiences, we will end up trading gaining more profits than losses.

But there are really things that wont really be meant for you to involve on no matter how hard you do try and accept countless numbers of mistakes. Just like on what happened to my friend on where he do deal with trading for how many years but still end up on negative profit thats why he decide to quit and look for another venture which i can say that he do made the right decision because there are really things which doesnt really work for you no matter how hard you do try. Mistakes are normal but if you do saw that it isnt working then thats the time you should re-escalate and find another path.