Trading mistakes

[New.in.trading]

The biggest mistake(s) I made when I started on Eur Usd:

-overtrading (taking more trades than I could review and journal)

-being impatient (changing bias all day, chasing loser after loser)

-Journaling but not going through my journal may have been the biggest mistake! What good is a data collection, if you don't look at it?!

What I learned:

-Trade less

-have one day a week where you go through your journaled trades.

-set specific goals for the day, if you are dealing with current issues (if you are overtrading, set the goal to only place 1-3 trades. Repeat that for 2 weeks -> overtrading gone)

[Renampun]

Me or even us have experienced all of those. My main problem is over trading because I just can't myself to stop trading once I get money or even when I lost. My greed slowly killing me because of my stupidity because I would like to earn more but it's not worth it on long run.

it is not easy to be able to withstand greed, need long practice...
for those who are just trying to trade, it must be very natural to experience losses for the first time, if you withdraw because you lose the first time then you have lost the opportunity to forge your mental. persist gradually when trading is something that must be learned slowly.

[BlackFor3st]

Those are the common mistakes of a trader either a newbie or a season trader especially the over trading because sometimes there are traders who become greedy to their
trades in order to obtain a huge profit in just a short period of time. Sometimes, I also fall to this kind of mistake but I am trying not to commit this kind of mistake again.

And these informations will be very useful especially to those newbie traders who want to become a successful trader someday, it is good that they should know on what to avoid so
they can lessen their losses if in case they will be facing these problems in their journey of trading.

[Lanatsa]

Me or even us have experienced all of those. My main problem is over trading because I just can't myself to stop trading once I get money or even when I lost. My greed slowly killing me because of my stupidity because I would like to earn more but it's not worth it on long run.

it is not easy to be able to withstand greed, need long practice...
for those who are just trying to trade, it must be very natural to experience losses for the first time, if you withdraw because you lose the first time then you have lost the opportunity to forge your mental. persist gradually when trading is something that must be learned slowly.

People does have different way on how to react things and on how they do make out realizations on their own that's why we have seen some do quit and some do sustain even if they are losing.

of course losing is just part of the game and you should really make learnings from that one so that you would really be aware on next time encounter or you would be aware on the action
to be made.

You would gain knowledge and experience along the way which would really be beneficial for you.The longer you do engage the higher chance on making yourself on becoming pro.
Just think that loses cant be avoided but make it sure that you do end up on profiting in the end of the day.

[abel1337]

Me or even us have experienced all of those. My main problem is over trading because I just can't myself to stop trading once I get money or even when I lost. My greed slowly killing me because of my stupidity because I would like to earn more but it's not worth it on long run.

it is not easy to be able to withstand greed, need long practice...
for those who are just trying to trade, it must be very natural to experience losses for the first time, if you withdraw because you lose the first time then you have lost the opportunity to forge your mental. persist gradually when trading is something that must be learned slowly.

Well it depends on the person who is trading, There are people who know how to control greed before they start trading that's why they can eliminate that kind of issue easily. But it is common for most new traders to have that kind of experience and it is good that they experience it early so they can avoid it in the latter part when they are trading a good amount of assets.

Every people learn from experiences, I myself accept the fact that I am too greedy on many things and profit in trading is one of them, I have regretted many times because of my wrongdoings but now, I realize how I should do things right. Experiencing greediness can be one of your milestone in being a successful trader.

[NewRanger]

Me or even us have experienced all of those. My main problem is over trading because I just can't myself to stop trading once I get money or even when I lost. My greed slowly killing me because of my stupidity because I would like to earn more but it's not worth it on long run.

it is not easy to be able to withstand greed, need long practice...
for those who are just trying to trade, it must be very natural to experience losses for the first time, if you withdraw because you lose the first time then you have lost the opportunity to forge your mental. persist gradually when trading is something that must be learned slowly.

our main enemy in trading was our psychology and greedy, most of traders suffer loss due of this. their profits be loss after hold too long , they thinking pump will continue but unfortunately whales take profit. dicipline will be key for our success, set all rules in our trading and do it with any tolerance .dont ever thinking trading will be easy for us, in our first step lost will be our friend and it will create our mental.

[TitanGEL]

Me or even us have experienced all of those. My main problem is over trading because I just can't myself to stop trading once I get money or even when I lost. My greed slowly killing me because of my stupidity because I would like to earn more but it's not worth it on long run.

it is not easy to be able to withstand greed, need long practice...
for those who are just trying to trade, it must be very natural to experience losses for the first time, if you withdraw because you lose the first time then you have lost the opportunity to forge your mental. persist gradually when trading is something that must be learned slowly.

our main enemy in trading was our psychology and greedy, most of traders suffer loss due of this. their profits be loss after hold too long , they thinking pump will continue but unfortunately whales take profit. dicipline will be key for our success, set all rules in our trading and do it with any tolerance .dont ever thinking trading will be easy for us, in our first step lost will be our friend and it will create our mental.

The own psychology of a the trader are his/her main enemy, trading is not just about technical and fundamental analysis, most of the trading is all about psychology and risk management. A lot of people thinks that the main problem is their technical analysis but they are wrong because the main problem why they keep losing is because of their trading psychology. When it comes to making mistakes, it is normal here in the cryptocurrency market but it is not normal if you keep losing huge amount of money. Maybe there is a big problem when it comes to risk management or his/her trading psychology.

[BuNga_cute]

I have done almost all of the trading mistakes which was mentioned in the opening post, therefore we must comply with all basic trading rules.
In order to minimize mistakes when trading, in my opinion most of the mistakes traders make is by following other people's signals, without first
analyzing the market. And also don't use trading bots for newbies, because using a trading bot is not as easy as you imagine using it, we have to
make several settings according to market conditions.

[DevilSlayer]

Creating a plan is really important in trading, we cannot just enter in a trade without planning our entry points, invalidation levels and also the exit points. According to my mentor, if we are going to create a plan make sure that we have 4 different scenarios in order for us to expect the best and prepare for the worst. Having a plan is vital and we can easily lose huge amount of money if we do not have a wise plan. In terms of profit in trading, I think the main mistakes are the people do not protect their profits where in they gain becoming loss. In order for us traders to protect our profit, it is better if we will learn about trail stop.

[Salauddin1994]

Creating a plan is really important in trading, we cannot just enter in a trade without planning our entry points, invalidation levels and also the exit points. According to my mentor, if we are going to create a plan make sure that we have 4 different scenarios in order for us to expect the best and prepare for the worst. Having a plan is vital and we can easily lose huge amount of money if we do not have a wise plan. In terms of profit in trading, I think the main mistakes are the people do not protect their profits where in they gain becoming loss. In order for us traders to protect our profit, it is better if we will learn about trail stop.

Funny, but some people that start trading believe in their luck. They take this business as gambling. However, trading is not the game of chance. Planning here is good knowledge are always very important. Those, who ignore planning, will fail soon.

Success is never achieved without planning people without plans are the victims of failure trading does not depend on luck it depends on knowledge and experience. Those who have good skills about the market and can follow the trading strategies can avoid the mistakes of trading and can adapt to any situation but planning always shows the right way.

[KnightElite]

Me or even us have experienced all of those. My main problem is over trading because I just can't myself to stop trading once I get money or even when I lost. My greed slowly killing me because of my stupidity because I would like to earn more but it's not worth it on long run.

it is not easy to be able to withstand greed, need long practice...
for those who are just trying to trade, it must be very natural to experience losses for the first time, if you withdraw because you lose the first time then you have lost the opportunity to forge your mental. persist gradually when trading is something that must be learned slowly.

People does have different way on how to react things and on how they do make out realizations on their own that's why we have seen some do quit and some do sustain even if they are losing.

of course losing is just part of the game and you should really make learnings from that one so that you would really be aware on next time encounter or you would be aware on the action
to be made.

You would gain knowledge and experience along the way which would really be beneficial for you.The longer you do engage the higher chance on making yourself on becoming pro.
Just think that loses cant be avoided but make it sure that you do end up on profiting in the end of the day.

We should really understand we should know our inner selves, losing is part of the process so we should know how to overcome it through our own way. In the long run, a trader will finally understand that losing and making mistakes are inevitable because we are humans and there are really times that we are doing wrong decision because have emotions. The mistakes are normal as long as we are carefully handling the risks, we should also do our best in order for us to prevent the same mistakes that we did. That is why journalizing in trading is important wherein we will journal our trades and also the mistakes that we did for us to not repeat it again in the future.

[proTECH77]

Many are still making the same mistake other made by trading in a wrong environment, that make them loose all their profit from the trade which they find it difficult to understand the market before trading their coins in the market. Many are still doubting if they can trade their coins  now since the rumors is spreading that the market will still improve more than this before 2020 end.  According to research this is the right time for those who hold their coins for a very long time to sell because any moment from now market can change.
Many trader never believe in personal research before carry out their trade which has make many lose their profit from their trade.

[CryptocurencyKing]

One mistake that most beginner traders make is not to know when to trade.Following the fact that, trading the market is a 24hours activity, most beginner traders not having enough trades feel they are lossing a lot by not using the utmost time available to them and as such tends to trade every move they observe in the market to make the most pips and profits.
This is rather a strategy worth avoiding as it often ends in desaster. You'll find out that your trading all the time but making little, no profit or your loosing. Why is this?
This is because, when ever you make a little profit, you end up taking a trade that is likely to end in a loss and as such, your profit might be wholely consumed and even at times, a part of your reserved income.

It's always best, you don't trade at all times, if your a scalper, entry the market for a few hours take a considerable amount of pips and let it be. Should you be a swing trader, the case is different.

[SaveOurSea]

Creating a plan is really important in trading, we cannot just enter in a trade without planning our entry points, invalidation levels and also the exit points. According to my mentor, if we are going to create a plan make sure that we have 4 different scenarios in order for us to expect the best and prepare for the worst. Having a plan is vital and we can easily lose huge amount of money if we do not have a wise plan. In terms of profit in trading, I think the main mistakes are the people do not protect their profits where in they gain becoming loss. In order for us traders to protect our profit, it is better if we will learn about trail stop.

Funny, but some people that start trading believe in their luck. They take this business as gambling. However, trading is not the game of chance. Planning here is good knowledge are always very important. Those, who ignore planning, will fail soon.

If you trade in futures or options it is like gambling,
but if you trade on the spot market it is clearly an investment, where before investing you have to really analyze in the project,
many people experience mistakes and lose a lot of capital because they play in options and futures, try it on the spot market.

[ice098]

One mistake that most beginner traders make is not to know when to trade.Following the fact that, trading the market is a 24hours activity, most beginner traders not having enough trades feel they are lossing a lot by not using the utmost time available to them and as such tends to trade every move they observe in the market to make the most pips and profits.
This is rather a strategy worth avoiding as it often ends in desaster. You'll find out that your trading all the time but making little, no profit or your loosing. Why is this?
This is because, when ever you make a little profit, you end up taking a trade that is likely to end in a loss and as such, your profit might be wholely consumed and even at times, a part of your reserved income.

It's always best, you don't trade at all times, if your a scalper, entry the market for a few hours take a considerable amount of pips and let it be. Should you be a swing trader, the case is different.

Everyone of us doesn't know that I think, or we know it, but we are being carried away by our emotions or FOMO, so even though it is not the right time to buy, we bought it and then we leave that in our wallet, then after a week or month it dumps, then we will be depressed or frustrated, there is no harm in trying since mistakes can teach us a lesson but we need to be careful next time so we would not do same mistake again.

[Ratash]

The major mistake that traders do is getting lazy when doing the homework to invest in a token they see the market in a green status and they start investing imediatly without checking if its a scam or without taking a look what the project behind the token is about.

[bitbunnny]

Those are the common mistakes of a trader either a newbie or a season trader especially the over trading because sometimes there are traders who become greedy to their
trades in order to obtain a huge profit in just a short period of time. Sometimes, I also fall to this kind of mistake but I am trying not to commit this kind of mistake again.

And these informations will be very useful especially to those newbie traders who want to become a successful trader someday, it is good that they should know on what to avoid so
they can lessen their losses if in case they will be facing these problems in their journey of trading.

Greed and desire to recover the loss as soon as possible are very common mistakes. Not only made by newbies but also experienced traders fall into this trap from time to time. That is why self control and strong personality are very important for traders.
Also it's not very wise just to follow and copy other traders, everyone needs to develope its own strategy according to own goals and limitations.

[Oilacris]

Those are the common mistakes of a trader either a newbie or a season trader especially the over trading because sometimes there are traders who become greedy to their
trades in order to obtain a huge profit in just a short period of time. Sometimes, I also fall to this kind of mistake but I am trying not to commit this kind of mistake again.

And these informations will be very useful especially to those newbie traders who want to become a successful trader someday, it is good that they should know on what to avoid so
they can lessen their losses if in case they will be facing these problems in their journey of trading.

Greed and desire to recover the loss as soon as possible are very common mistakes. Not only made by newbies but also experienced traders fall into this trap from time to time. That is why self control and strong personality are very important for traders.
Also it's not very wise just to follow and copy other traders, everyone needs to develope its own strategy according to own goals and limitations.

Even if you do tend to copy others it wont guarantee that it would really be effective into your trading because if strategy do works into others but doesnt mean that it will work into you.

Greed and lack of patience is one of the most common mistakes of people who do trade and you would eventually learn due to experience and thats if you do really make self realization after those mistakes or losses that had been comitted.

This isnt something that can be attain in few days time but rather it will surely takes years for you to master or able to handle yourself well.

[TopT3ns]

The major mistake that traders do is getting lazy when doing the homework to invest in a token they see the market in a green status and they start investing imediatly without checking if its a scam or without taking a look what the project behind the token is about.

investing in a project that is offered to you and getting that token is a very terrible risk, because it can make you lose and no one can guarantee with the token you get, I better trade bitcoin patiently to be able to get a lot of profit.

at least there are traders who never experience mistakes, all of them have experienced it and make it a very important lesson and try not to repeat the mistakes again.

[pankowri]

Mistakes are common at trading. We have many issues which ultimately can be considered as a mistake such we have mind to win that make us triggered even after losing, risk assessment, funds problem, enough knowledge. Those are the main elements of making mistakes. Buy in less and sell in high is a bad thinking at trading.