Fast ways to lose money trading

[shawonngp]

Hey guys, I recently started trading on Binance and I read books, watched videos on fundamental analysis, support and resistance. I try to improve myself on crypto trading and also on psychology aspect of trading. The path of a trader is not as easy as most think. It is quite different lifestyle portrayed on Instagram. You could be a trader for five years and you'd still not have enough knowledge or experience. Maintaining profitability is a tough challenge.

🌟Fast ways to lose money trading;

👉Trade too much - You don't have to enter a trade everyday even if you're a day trader.

👉Trade too big - Don't use more than 6% of your capital when trading. Ensure your liquidity is low

👉Trade randomly - Don't trade every coin. Be smart, choose coins you're comfortable with. Don't gamble, always have a plan and follow through on it.

👉Trade based on your emotions - Trading is about 90% psychology. Guard your mind and your heart so you can properly apply your trading plan.

👉Trade based on predictions - Don't trade based on financial advice from someone on telegram or any of the social media platforms. Do your own research.

👉No stop loss: This happened to me once. I lost a chunk of my capital. Stop loss was created for a purpose use it for every one of your trade.

👉Cut winners fast: Don't be greedy!! Collect your profits.

👉Let losing trades run: This would kill you, if a trader is going bad I think it's better to close the position at your stop limit rather than letting it run in hopes it may come back to our favor.

It is never possible to improve a business in the fastest way. Rather, trading in the fastest way will reduce your money if you start trading in the future without analyzing the market. And trade without any experience of where the market will go. But if you know how to use indicators, analyze the charts. It will keep you with diverse results in futures and it will help you make a lot of money.

[Tstar]

Good advice if you are a complete beginner.

I think that the most important is discipline and money management. Then comes the other trading skills like signal/market reading, etc.

[imstillthebest]

why fast way to loose .

no one wants to loose but all wants to earn and earn only  , joke xd  .

of course losses are there and i do like that you highlight what causes traders to loose  , never knew this can effectively work because traders are commonly learning on how to improve the way they trade but they dont look back on the traders weaknesses  .

Good advice if you are a complete beginner.

the advice is for all because

You could be a trader for five years and you'd still not have enough knowledge or experience. Maintaining profitability is a tough challenge.

 you will think that your not a beginner anymore because of the time that you spend but its tough to be a trader .

[MCobian]

Thank you opening post for reminding me about things that can cause us to lose money when trading. I think all the points mentioned
in the opening post all traders know about it, because it is basic knowledge. But the problem is we all often forget it or even underestimate it.
As I experienced in 2017/2018, I don't use stop-loss when investing in Bitcoin and altcoins, even though I know the importance of the stop-loss
feature.

Because I was too confident at that time when the crypto price would continue to rise, and in the end, you can guess that I suffered a big loss.
Moreover, the current bull run is very risky for a dump to occur. So please don't forget all the things that were mentioned in the opening post,
especially for the stop-loss feature, we must always use it to protect our money.

[AakZaki]

Even though I am not a trader, I have also had some bitter experiences from the things mentioned above, and ended in losses. the worst is trade to much. where you just get not much profit, then you become addictive but unfortunately without being balanced with strong basic abilities. it's because I'm greedy, maybe? yes but with that experience I know that you don't have to do it all the time and maintaining profits requires good skills

basic skills are needed to start trading. Without basic trading skills it will not calm you down and will not give you more profit. Don't just rely on luck. Trading also requires good and controllable psychology, don't trade when your psychology is not good because it will have fatal consequences for your trading.

[rodskee]

Hey guys, I recently started trading on Binance and I read books, watched videos on fundamental analysis, support and resistance. I try to improve myself on crypto trading and also on psychology aspect of trading. The path of a trader is not as easy as most think. It is quite different lifestyle portrayed on Instagram. You could be a trader for five years and you'd still not have enough knowledge or experience. Maintaining profitability is a tough challenge.

🌟Fast ways to lose money trading;

👉Trade too much - You don't have to enter a trade everyday even if you're a day trader.

👉Trade too big - Don't use more than 6% of your capital when trading. Ensure your liquidity is low

👉Trade randomly - Don't trade every coin. Be smart, choose coins you're comfortable with. Don't gamble, always have a plan and follow through on it.

👉Trade based on your emotions - Trading is about 90% psychology. Guard your mind and your heart so you can properly apply your trading plan.

👉Trade based on predictions - Don't trade based on financial advice from someone on telegram or any of the social media platforms. Do your own research.

👉No stop loss: This happened to me once. I lost a chunk of my capital. Stop loss was created for a purpose use it for every one of your trade.

👉Cut winners fast: Don't be greedy!! Collect your profits.

👉Let losing trades run: This would kill you, if a trader is going bad I think it's better to close the position at your stop limit rather than letting it run in hopes it may come back to our favor.

Looks like everything is valid and legit , If this will be applied by all Traders then safeties will be on their way and profit is ahead of time.
comparing to those risk taker in which believe that trading is gamble ,when you deserve to Profit they will come.

Look what happen to them , all their capital losses in shortwhile ,

But all of these can be saved by putting STOP LOSS because with this we are limiting our funds to go in vain ,and letting us determine which can be profitable this time and the next.

[sarmrakib]

~Greed
~Emotional
~Impulsive and gambler type
~Lack of knowledge
~Blind trades
~Loves to follow fud and fomo

Even though these traits are common but with due experience in a matter of time.You will able to control
and make it lesser as days goes by.

You have gathered all the reason behind loosing on trade .If anyone able to release those characteristics from their trading they will surely gain the profit .However most of the trader loosing their trade because of greediness .If we able to give up this from our mind we can surely make profit on trading .

[celot]

Without good management control when you trading this become easy way how to lose your money in trading or investing, I think every one wanna try trading always have to know with trading risk first and always check with chart and know good or bad news with coin wanna buy. I think its most important because know with update news about some coin is most important look what happen with ripple after investigating by SEC price suddenly dump.

[bitterguy28]

.

🌟Fast ways to lose money trading;

👉Trade too much - You don't have to enter a trade everyday even if you're a day trader.

Perfect , there is no need to rush in profiting because this will bring only failure and wrong decisioning .

👉Trade too big - Don't use more than 6% of your capital when trading. Ensure your liquidity is low

👉Trade randomly - Don't trade every coin. Be smart, choose coins you're comfortable with. Don't gamble, always have a plan and follow through on it.

Familiarity in currencies that we will be vesting is Much needed that just buying what you see is good.

👉Trade based on your emotions - Trading is about 90% psychology. Guard your mind and your heart so you can properly apply your trading plan.

👉Trade based on predictions - Don't trade based on financial advice from someone on telegram or any of the social media platforms. Do your own research.

👉No stop loss: This happened to me once. I lost a chunk of my capital. Stop loss was created for a purpose use it for every one of your trade.

assuring our Losses to take small place is necessary so Stop loss will always do the diligence .

👉Cut winners fast: Don't be greedy!! Collect your profits.

👉Let losing trades run: This would kill you, if a trader is going bad I think it's better to close the position at your stop limit rather than letting it run in hopes it may come back to our favor.

Looking for too much will always bring un necessary losses , so take your cake before it messes up.

[AicecreaME]

Just wanted to add Trading with a High Leverage is also a fast way to lose your money in Trading. The short way to explain all of what OP mentioned is Trading without any knowledge means losing your capital is inevitable. Don't trade just because you've seen someone post online that they are making profits in Trading, please don't or else you'll regret it.

Always proceed with a plan, Trade because you're confident in your knowledge in Trading. Let me give you topics that'll help you to minimize losses:

• Support and Resistance
• Candle Stick patterns
• RSI
• EMA crossovers
• Trendlines

[Mr.Ease]

All this is great advice...

Except this is crypto. The only good advice that has been time tested is this....

Learn to HODL

It's tougher than you may believe.

[plvbob0070]

Another fast way to lose money quickly is to follow these "instagram traders" hehehe.
Who are these people anyway?

In specific, be prepared for an instant scam as you follow and trust your funds with those self-proclaimed traders. Instead of following their trading guides, you should pour your time to gain knowledge to understand how to read and analyze the stock market chart.

Are they selling any trading guides

It seems so, as you are required to pay for them to help you assess your trades.

or do they lure in newbies with "how I made easy money on trading crypto" blogs or videos with pictures of luxury cars or house? A trader worth his salt doesn't need to go public AND sell aggressively. Let's remember that.

Flexing their travel pictures and luxury items are part of the scheme, and that’s how they attract people’s interest.

[Natsuu]

👉Trade based on predictions - Don't trade based on financial advice from someone on telegram or any of the social media platforms. Do your own research.

I think this is in the same context but, do not just ride in with the flow, make your researches and analysis about the coin/stock that you will be buying before totally engaging it. And if you see others gain from just joining the flow, don't be jealous, as this happening is just from luck. Stick with your gameplan 

[pragna]

Hey guys, I recently started trading on Binance and I read books, watched videos on fundamental analysis, support and resistance. I try to improve myself on crypto trading and also on psychology aspect of trading. The path of a trader is not as easy as most think. It is quite different lifestyle portrayed on Instagram. You could be a trader for five years and you'd still not have enough knowledge or experience. Maintaining profitability is a tough challenge.

🌟Fast ways to lose money trading;

👉Trade too much - You don't have to enter a trade everyday even if you're a day trader.

👉Trade too big - Don't use more than 6% of your capital when trading. Ensure your liquidity is low

👉Trade randomly - Don't trade every coin. Be smart, choose coins you're comfortable with. Don't gamble, always have a plan and follow through on it.

👉Trade based on your emotions - Trading is about 90% psychology. Guard your mind and your heart so you can properly apply your trading plan.

👉Trade based on predictions - Don't trade based on financial advice from someone on telegram or any of the social media platforms. Do your own research.

👉No stop loss: This happened to me once. I lost a chunk of my capital. Stop loss was created for a purpose use it for every one of your trade.

👉Cut winners fast: Don't be greedy!! Collect your profits.

👉Let losing trades run: This would kill you, if a trader is going bad I think it's better to close the position at your stop limit rather than letting it run in hopes it may come back to our favor.

I think this is good technique for every new and old traders. I am also pleased with this technique and will try to continue those suggestions. Yes basically trading fully depends on technique, update news and that kind of work by trader and also risk adopters.

thanks.

[Tahsin Kabir Kollol]

All the subjects of the above are among the possibilities of losing money very quickly in trading. However, the fastest way to lose money in cryptocurrency trading is to invest in a counterfeit coin. If you invest in an unsafe and unplanned project in Altcoin and hold on to it, there is a possibility of a complete loss of money invested in your trading and this has been the case in many Altcoin trades so far. I have also encountered such incidents while trading in an altcoin.

[Quidat]

All the subjects of the above are among the possibilities of losing money very quickly in trading. However, the fastest way to lose money in cryptocurrency trading is to invest in a counterfeit coin. If you invest in an unsafe and unplanned project in Altcoin and hold on to it, there is a possibility of a complete loss of money invested in your trading and this has been the case in many Altcoin trades so far. I have also encountered such incidents while trading in an altcoin.

Those are on other side of things and on the obvious one on where you can literally lost your money in an instant or fastest way when you do buy or tend to fund such project.
Its common that those shitty coins doesnt really have the potential on rising up in the future. It sounds dumb but there are people whom do actually make out some investment
on such projects without even realizing or making indepth research about it.They would just simply regret that they had jumped in but instead on investing it out directly in btc.
I presume that op is pertaining about on actual trades on actual or huge volume coins, when you do make out those mistakes then that would surely cost you.

[TopTort777]

Imho fastest way to lose money when trading is to filter altcoins by maximum daily % gainer and buy this altcoin. It is like you want to jump in the last car of a money train, but you actually buying with highest available price. Using this method with all available funds will only faster the fastest way of loosing money.

[South Park]

Hey guys, I recently started trading on Binance and I read books, watched videos on fundamental analysis, support and resistance. I try to improve myself on crypto trading and also on psychology aspect of trading. The path of a trader is not as easy as most think. It is quite different lifestyle portrayed on Instagram. You could be a trader for five years and you'd still not have enough knowledge or experience. Maintaining profitability is a tough challenge.

snip

All of those reasons that you posted can be summarized with a single word, and that word is ignorance, the fact that someone is buying or selling assets in a market does not make him a trader, what makes a trader is his knowledge about the market and how to take advantage of them, and unfortunately most of the people that trade the markets never take the time to actually read a book about the subject so they trade blindly without knowing what they are doing and sooner or later the market will punish them for such reckless behaviour making them lose most of their money in the process.

[error08]

👉Trade based on predictions - Don't trade based on financial advice from someone on telegram or any of the social media platforms. Do your own research.

I think this is in the same context but, do not just ride in with the flow, make your researches and analysis about the coin/stock that you will be buying before totally engaging it. And if you see others gain from just joining the flow, don't be jealous, as this happening is just from luck. Stick with your gameplan 

For people who do not know how to analyze the market, not many choices but to follow the predictions of others, therefore there is such a thing as a copy trade.
Nonetheless, you don't have to follow everything on the other side but determine your own goal and read the trend on the market, the pattern always repeated throughout history. For example, if bitcoin value increases, ethereum and litecoin are more likely to increase as well, it has been proven even at the moment, then your call to buy bitcoin, eth, or cheaper litecoin.

[Wawa2013]

It must be admitted that experiencing losses when trading must make all traders annoyed, therefore we should before deciding to trade learn
knowledge about trading. That way we will be able to avoid several causes of losing money when trading which have been mentioned in the opening
post.

In my opinion, the cause that causes the most traders to lose money is traded based on prediction, because most traders, especially newbies  prefer
trading based on the signals given by other people who claim to be experts. Usually, the ones that give a lot of trading signals are the trading  group
on telegram platforms. I think avoid trading like that, because it's not getting profit. But you can lose money.