How to Overcome and Handle Your Mistakes in Trading?

[dragon695]

I believe that mistakes are part of success. You will never learn if you do not make a mistake.But the most important thing there is you learn how to accept it and learn from it. In trading we always have to be careful in every move we do, because if you always do the same mistake your capital could be depleted. Don't get tired of doing research this will help you become a good trader.

I totally agree with your idea! A mistake is critical to our learning process. You'll remember it longer when you learn it the hard way. I've seen a lot of people quit trading because they hesitated to learn from their mistakes and they are afraid of being failed again! Don't stop learning, don't scare to be failed! You should only scare when you stop trying!

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[Krabby]

As a newbie, I think transactions should be recorded. For example, when you open an order, you should record the reason for the open order and the reason for the loss. That's what I used to do in the early days of trading, it was really time-consuming and silly, but the results it brought were amazing. After a period of hard trading and I reread my handbook, I realized a lot of good things and have applied successfully until now. Now I don't dare to admit that I am a successful trader but in 1 month I earned an average of 400 $ - 460 $. just discipline yourself to get a good results slightly.

[Blue_oxen]

Also, who you follow and pay attention to on social media can make a world of difference. When I first started trading, I was following and listening to complete scammers (not aware that they were scammers). As a result, I nearly lost all my money. Since then, I've unfollowed them and listen to quality traders, and have almost recouped my losses.

It's good to see you changed! However, besides listening to others, you should focus on gaining knowledge, understanding, skills by yourself. By doing this, you'll have the ability to double-check any information that appears on social media. Then you can legitly decide whether to take action or not. Equipping yourself with knowledge and understanding are very important in trading.

[Oasisman]

I believe that mistakes are part of success. You will never learn if you do not make a mistake.But the most important thing there is you learn how to accept it and learn from it. In trading we always have to be careful in every move we do, because if you always do the same mistake your capital could be depleted. Don't get tired of doing research this will help you become a good trader.

I totally agree with your idea! A mistake is critical to our learning process. You'll remember it longer when you learn it the hard way. I've seen a lot of people quit trading because they hesitated to learn from their mistakes and they are afraid of being failed again! Don't stop learning, don't scare to be failed! You should only scare when you stop trying!

Then you should also consider the resources you spend while trading, it's inevitable not to feel fear when you're trading, specially when you're still learning the ropes.

Trading ain't never easy experience will always give you the advantage to familiarize the market movements, TA's and fundamental news. Remember that, most of the successful traders doesn't waste his precious time trying to educate others. He either monetize the knowledge he gets or doesn't bother to.

[so98nn]

Trading education can be beneficial to overcome all other points that you have mentioned. Since educating a trader can lead to mistakes, risks analysis, prod and cons. Apart from this one can easily get to know their own habits and behaviour when they start trading. Knowing yourself at anytime is best one rather than depending on someone else.

So it's advisable that everyone focuses on education and analysis of their trades.

[Ridwan Fauzi]

As a newbie, I think transactions should be recorded. For example, when you open an order, you should record the reason for the open order and the reason for the loss. That's what I used to do in the early days of trading, it was really time-consuming and silly, but the results it brought were amazing. After a period of hard trading and I reread my handbook, I realized a lot of good things and have applied successfully until now. Now I don't dare to admit that I am a successful trader but in 1 month I earned an average of 400 $ - 460 $. just discipline yourself to get a good results slightly.

An effort will pay for everything, right? glad to hear your story here especially when you reveal an income per months and I think that is a huge amount. But, in the trading, we can't similarities with other people's strategy or their experience because there will be different from each other. I was wrong when I just new to trade because I just collect some references about other people's experience and their income now.

I wasn't focused to my daily trade especially the strategy that I used. Just copied other people's strategy and someone's else suggestion (like what OP said) and I wasn't learned what I have done every time I trade. I realized when I got stuck because I've spent $50 every day and I talk to myself there was something wrong. And yeah, I realize to find a bunch of trading strategy is easy I can understand it with only one day but I can't control myself in an easy way, I need more times and I need a lot of practice to trade comfortably.

[Vitalicus]

Trading education can be beneficial to overcome all other points that you have mentioned. Since educating a trader can lead to mistakes, risks analysis, prod and cons. Apart from this one can easily get to know their own habits and behaviour when they start trading. Knowing yourself at anytime is best one rather than depending on someone else.

So it's advisable that everyone focuses on education and analysis of their trades.

True! Before doing anything guys, please learn! We should know and understand what we're doing. In that way, we can believe in our decisions and our ability to achieve our goals! The way I overcame my mistake in the past is that I learned from it. I find the problem and learn how to fix it. That's how I can keep moving on in this market!

[imstillthebest]

Focusing on your mistakes has to do more with emotions in whichllots of traders does not really take very important. one of the vast mistakes trader do is always jumping on an already gone train, by buying high and selling low, the fomo urge tends to be too high, such traders lacks the ability to wait for a dip before joining a moving train, and in this case proper trading education is required whereby you need to know where the support and resistance is, if not, such mistakes will keep repeating itself

they jump because they think the price can rose more  . its okay if they do this on coins that have a history of that acts but for the coin that has no record yet , thats hard and the chance is 50 percent or lower   . buying high and selling low seems not right to hear  ,  if ever i entered on the wrong time , i will choose to loose than to sell at a loss  .     and also who would ever repeat the same mistakes  ?   i changed strat if one or two mistake experience to avoid more losses

[abel1337]

Trading education can be beneficial to overcome all other points that you have mentioned. Since educating a trader can lead to mistakes, risks analysis, prod and cons. Apart from this one can easily get to know their own habits and behaviour when they start trading. Knowing yourself at anytime is best one rather than depending on someone else.

So it's advisable that everyone focuses on education and analysis of their trades.

True! Before doing anything guys, please learn! We should know and understand what we're doing. In that way, we can believe in our decisions and our ability to achieve our goals! The way I overcame my mistake in the past is that I learned from it. I find the problem and learn how to fix it. That's how I can keep moving on in this market!

Learning is the first you need to do when you are entering a situation like trading. If we're talking about money. Knowledge, logical thinking, skills, and good analysis is very important in trading and you can get this by experience. The experience doesn't mean you need to fail or make a mistake before you learn, Sometimes we need to learn from the mistake and others and make insight with the situation they have. Every professional trader experiences a mistake and fails on their trading sessions and they just accept it and make themselves better to avoid the situation again.

[maydna]

Learn something from your mistake will be the most important thing that you must-do if you want to be a pro trading because you can search the mistake first, and you will know what part you make that mistake. The next thing that you can do is search for how to fix or solve the problem so that it can give you time to search for another lesson or how to fix that mistake. If you can fix it, you can improve your analysis skills, and you will be able to avoid the same mistake in the future.

Perhaps, it will not easy as it said because we need to focus on searching on the mistake, and we need to separate part by part to find that mistake. But that is what we need to do to learn from the mistake. You need to learn more about trading, so you will have another lesson which you can apply in trading, and you can have time to try to make a profit.

[Findingnemo]

Try to avoid your previous mistakes in your future trades so you can make some profit and also get confidence about your own trading skills. In my opinion we can trade better if we trade with little amount because we can go for better margin with no worries even if we lost we won't lose our hope on it.

[Yatsan]

Try to avoid your previous mistakes in your future trades so you can make some profit and also get confidence about your own trading skills. In my opinion we can trade better if we trade with little amount because we can go for better margin with no worries even if we lost we won't lose our hope on it.

Yes! experience is always the best teacher here in trading, me personally I committed a ton of mistakes in trading and still doing some, but by learning from my past experience I am now minimizing the mistakes and same as the risk of losing money. And in addition, you can learn also from the mistakes of the others by reading here in forum and watching YouTube videos. Trading is always unpredictable but, you can minimize the risk by learning how to control it. 

[ReiMomo]

Try to avoid your previous mistakes in your future trades so you can make some profit and also get confidence about your own trading skills. In my opinion we can trade better if we trade with little amount because we can go for better margin with no worries even if we lost we won't lose our hope on it.

I guess this is what the most traders want, to learn their mistakes and don't let will happen again in the future. But the market was a very powerful force and maybe even an expert in trading can control it, they also encounter losses. How about the new one, there is no other way to control it.

Sometimes our wrong interpretation will lead us to losses, so, there are too many factors on how to overcome and handle mistakes, it's all about us. I guess it is good if you try first in demo trading before you will be risking your money in trial and error method, it seems advisable to start with a small trading account where you can continue trading and learning from the mistakes you had which will occur along the way.

[Kasabus]

Learn something from your mistake will be the most important thing that you must-do if you want to be a pro trading because you can search the mistake first, and you will know what part you make that mistake. The next thing that you can do is search for how to fix or solve the problem so that it can give you time to search for another lesson or how to fix that mistake. If you can fix it, you can improve your analysis skills, and you will be able to avoid the same mistake in the future.

Perhaps, it will not easy as it said because we need to focus on searching on the mistake, and we need to separate part by part to find that mistake. But that is what we need to do to learn from the mistake. You need to learn more about trading, so you will have another lesson which you can apply in trading, and you can have time to try to make a profit.

Mistakes are always inevitable not only in trading but even to some other businesses. But we can be more successful in trading if we can handle our mistakes in a positive way and definitely learn from them from time to time. I think emotions are too hard to combat in trading but if you know how to balance your emotions when it comes to trading, you might lose some time but not that huge.

[isaac_clarke22]

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I believe "Learning from mistake" was mentioned quite a lot of times already and I believe it is time for someone to at least show their experience from their "Learning from mistake", because saying it straight up isn't encouraging anymore unlike in the past.

[FanEagle]

Learning from mistakes is definitely the best way, I agree with that. There are tons of quotes about mistakes and failures, you need to just keep failing until you succeed. The best one I like is "you only have to succeed on the last time you try", it is a beautiful saying that means you can fail as much as you want but as long as you succeed on the very last try that means you ended up being successful and that is quite important and the only thing that matters.

I personally failed many times, lost money many times, profited many times as well and in the end of all those mistakes and success I found which one is caused by what and that allowed me to eliminate the ways I used that caused me to lose money and keep the ones that allowed me to make more profits and continue repeating that.

[Stedsm]

The best way to overcome and handle our mistakes in trading according to me is to write down your mistakes. It may sound stupid to others who think this won't work but believe me, you won't have any better option than this. If you write down your mistakes and keep them all safe in one book/diary only, chances are you won't repeat the exact same mistakes as you already know you did, just by reading your mistakes and remembering them through this. I think there are many people who can't remember their mistakes which makes the commit the same mistake over and over, this needs to be stopped if you want to be a good and successful trader.

[LbtalkL]

My common mistake was being too greedy, I am talking about futures trading I always go all in like x100 leverage, sometimes it pays off but most of the time I lose because of it. I was just trying to get back what I lost it is like all or nothing. I want a situation like that though but it is pretty risky.  The good thing is I am not trading regularly. Even experts makes mistake on trading so be responsible and try to control yourself.

[Oilacris]

Learning from mistakes is definitely the best way, I agree with that. There are tons of quotes about mistakes and failures, you need to just keep failing until you succeed. The best one I like is "you only have to succeed on the last time you try", it is a beautiful saying that means you can fail as much as you want but as long as you succeed on the very last try that means you ended up being successful and that is quite important and the only thing that matters.

I personally failed many times, lost money many times, profited many times as well and in the end of all those mistakes and success I found which one is caused by what and that allowed me to eliminate the ways I used that caused me to lose money and keep the ones that allowed me to make more profits and continue repeating that.

Yeah this would really help you out and it will vary or depend on someones motivation since not all would really have the same kind of determination inside of em.

When they experienced failures or hardships, some people do easily give up and quit to get rid of those mistakes and wont lost money without even realizing

that they cant learn things up if they wont try it out for themselves.

[maydna]

Learn something from your mistake will be the most important thing that you must-do if you want to be a pro trading because you can search the mistake first, and you will know what part you make that mistake. The next thing that you can do is search for how to fix or solve the problem so that it can give you time to search for another lesson or how to fix that mistake. If you can fix it, you can improve your analysis skills, and you will be able to avoid the same mistake in the future.

Perhaps, it will not easy as it said because we need to focus on searching on the mistake, and we need to separate part by part to find that mistake. But that is what we need to do to learn from the mistake. You need to learn more about trading, so you will have another lesson which you can apply in trading, and you can have time to try to make a profit.

Mistakes are always inevitable not only in trading but even to some other businesses. But we can be more successful in trading if we can handle our mistakes in a positive way and definitely learn from them from time to time. I think emotions are too hard to combat in trading but if you know how to balance your emotions when it comes to trading, you might lose some time but not that huge.

It is right, but we can avoid mistakes by always learning more lessons of what we did, so we can make a strategy or plan for every step that we will do. I am sure if we can spend more time learning about trading and don't feel about it is enough and satisfy with our skills, our skills will grow, and that can give us more chances to have better analysis than before. We will have the opportunity to improve ourselves, and perhaps, we can be able to handle our emotions in trading. Although the emotion will always be there, we can know how to balance the emotions because we already learn how to control them.