How do you combat your weaknesses in trading?

[Shasha80]

There are no perfect traders, surely every trader has weaknesses. Only ourselves know the trading weaknesses we have. Then how to combat
my trading weaknesses by overcoming our own weaknesses so as not to hinder getting profit from trading. Because if our weaknesses are not
overcome immediately, it will create problems in the future. Or we can also maximize the advantages we have, so by itself it can cover our
weaknesses.

[Bitstar_coin]

The most important to note is not to be too excessive and overwhelmed by the trade, not every trade will bring profit and as a trader it is better to understand it and know when to call it quit especially when you are having a bad day, nobody is perfect, trade with what you can afford to lose and have a positive mindset even though it will not always be a smooth ride.

[sheenshane]

Op has given 14 basic options that traders must know and to avoid these emotions and I think, if you have these weaknesses at least 4 of them, you're not truly traders.  Since start when you are planning to become a crypto trader, you should have a game plan and all of these were a part of it.  Trading isn't an easy task or job, it required skills, knowledge, and most importantly strategies.  So if you have weaknesses, you aren't ready for trading.

The most important to note is not to be too excessive and overwhelmed by the trade, not every trade will bring profit and as a trader it is better to understand it and know when to call it quit especially when you are having a bad day, nobody is perfect, trade with what you can afford to lose and have a positive mindset even though it will not always be a smooth ride.

I tend to agree with this, there are no perfect traders out there.  Even them were possibly encountered losses, even though they are trying to avoid their previous mistakes but it will keep repeating due to some reasons.

[Cling18]

It's not just you OP, a lot of traders have the same problem with you, even me, I admit that.
With poor risk management, you will gonna lose your all money 100%! That's why the best advice I can give to a newbie in trading is to practice risk management first. Because in risk management, you can minimize the risks and maximize the profits, always have a plan before opening a trade position.
If you are just starting to trade, try first small capital, and of course, it will come with a small position size for every trade.

That's the common mistake that we have to correct as traders. We're sometimes being carried away by the hype that we can't even do something to minimize the risks. Starting with a small capital will serve as a good training ground for us to practice actual trading which is needed for us to familiarize the possible risks with the market movement.

[traderethereum]

There is no other way for you to learn more about trading to prevent loose money and you will have a chance to make a profit.
But what you say is right that we are often to make a wrong analysis in trading, and we feel that is gambling to us.
We need to know how to analyze better, so we can avoid making a wrong analysis, and we will know how to enter and quit from the market.
Many of us become greedy to see the profit, and we want to chase the bigger profit.
Although I often make a mistake, I will not stop learning about avoiding making another mistake by learning, so at least I can get a lesson in trading that will improve my skills in the future.

[Majharul Saiif]

My weakness is my lack of patience. I am a fraction of a restless person so I have distress being calm in trading. Trading is not a restricted income but an income based on time and market situations. But this is my weakness. It will seize me a long time to get over it. But as long as I can't reap over it, I won't be eligible to extend a good position in trading.

[yhiaali3]

If you are making profits then isn't that satisfactory enough? If the profit to capital gap so close then I can understand that it really is unsatisfactory but I think what you should do some meditation before doing some trades to help yourself clear your mind of burdens, trust me it helps. I am more on the poor risk management so I can't empathize that much about your problem but now that I think about it, I am impetuous when it comes to making decisions.

Yes, I agree with you on this. Indeed, I need to clear my mind a little before starting new deals to help myself de-stress and start over with a fresh start. Resting for a period of time is necessary to continue working with a clear mind, also as you say you should be managing risk and loss More important than taking profits. A trader has to repeat his accounts every time and know to set his foot exactly.

[AakZaki]

the most basic weakness of a trader is their psychology. No matter how good their knowledge of Technical Analysis and Fundamental Analysis, if the psychology is not in good shape then every decision will not be in accordance with the initial strategy that has been made. Sometimes psychology also affects how greedy you are when prices start to go up. Psychology will continue to be played when the market starts bulls and bears. Feeling enough of what you have achieved is something that must be done.

[abel1337]

My weakness is my lack of patience. I am a fraction of a restless person so I have distress being calm in trading. Trading is not a restricted income but an income based on time and market situations. But this is my weakness. It will seize me a long time to get over it. But as long as I can't reap over it, I won't be eligible to extend a good position in trading.

I'm sure you will overcome your weakness over time as long as you keep trading and learn psychology in trading. I've also been a victim of lack of patience, I've encountered many position loss before I realized that I have improved my patience. Sticking to the plan is one of my resolutions to cure the impatience of me.

[stomachgrowls]

Poor risk management ?
-Try to manage up funds that you can risk on a specific situation

 Not taking the profits fast enough ?
-This do talk about short traders because every tick of time does really counts.

 Falling in love with the coin and having hard time to exit
-For Bitcoin and some top alts, then why not? Just dont exit when you are in loss.

 Not following the plan
-Always have a plan, dont go to battlefield without having one.

 Trading too often
-It isnt bad but be sure that those are worthy trading times for you to do so.

 Not Using Stop-Loss
-This is only for Day/Active traders.

 Getting fomoed in too easily
 Panic buying too often
-This is about emotion and this is something that cant be handled easily.


And the rest are just pretty basic. Combating weakness and getting rid of it will matter on how experienced you are.

[Kelvinid]

Weaknesses have come to our mind and everything will be changed if we have a negative mindset. Thus, all of the negative results will surely come to us. If you want to win this thing then we should keep ourselves very positive about the future. The dump is the most common reason why people think about the negative but if we stick to the positive side, we can definitely conquer such weakness.

It is now clear to us that nothing could change the flow of our trading carrier, it is just how we respond to the possible losses we get. Kinda a trick, a reason that many fail to succeed and leave trading.

[cryptoperkele]

TLDR; i guess i wanted to ask that have you guys learned any lifehacks to overcome your weaknesses?

I hope there is something like "lifehacks" that exist.  
We are never alone in the losing end. Hell, those exchanges won't make anything without traders losing.
All you can do is learn from those mistakes.
I do make a lot of errors before and not just minimal. The greed that would cost everything.
But on the road, you will learn to be calm and make better decisions.

Most exchanges don't care if we are losing or not, as a big part of their funding model are the tx fees. And big part of the traders are doing spot trading anyway. So exchanges don't get any more no matter if they lose or not.

But by "lifehack" i meant more like a mind trick that keeps you focused when you need to act against every instinct you have. Like buying when you are afraid and sell when you are greedy.

[Joyawan13]

My weakness is my lack of patience. I am a fraction of a restless person so I have distress being calm in trading. Trading is not a restricted income but an income based on time and market situations. But this is my weakness. It will seize me a long time to get over it. But as long as I can't reap over it, I won't be eligible to extend a good position in trading.

I'm sure you will overcome your weakness over time as long as you keep trading and learn psychology in trading. I've also been a victim of lack of patience, I've encountered many position loss before I realized that I have improved my patience. Sticking to the plan is one of my resolutions to cure the impatience of me.

Indeed, it is certainly not easy to be able to overcome patience in trading, especially when the market moves very fast and especially when the price is in a position when the price is increasing, the price movements up and down cannot follow what we think of course, mostly the opposite is what we think , so in addition to learning to overcome impatience, we must also be able to overcome panic in our trading of course, because panic can make us suffer a lot of losses in trading.

[hd49728]

The best way to combat weaknesses is split capital to different amount and use each batch of them to trade. If you split your capital to 10 parts, you will have 10 chances to trade, and lose all of your capital. If you don't split it, you will have a single chance. Lose it one time, and lose all capital.

It is not only about how many times you have to trade and lose, it is also about time you are in the market. It takes up to 4 years for you to be a good trader in the crypto market only if you learn well from your loses. Don't borrow to trade and it can result in suicide when you lose all hope and belief.

[jaberwock]

I'm sure you will overcome your weakness over time as long as you keep trading and learn psychology in trading. I've also been a victim of lack of patience, I've encountered many position loss before I realized that I have improved my patience. Sticking to the plan is one of my resolutions to cure the impatience of me.

Indeed, it is certainly not easy to be able to overcome patience in trading, especially when the market moves very fast and especially when the price is in a position when the price is increasing, the price movements up and down cannot follow what we think of course, mostly the opposite is what we think , so in addition to learning to overcome impatience, we must also be able to overcome panic in our trading of course, because panic can make us suffer a lot of losses in trading.

I have always said that if you want to become a great trader, first you have to be a good investor.
Maybe the best method of raising a great trader would be getting some coins and keeping them for a very long time.

If you invest into say 5 coins? That should probably be enough, wait for 5 years and do not touch them, no matter what happens NEVER touch them, you are free to buy more of them if you want, it is allowed to buy as much as you want, but you can't sell it for 5 years no matter whatever the reason is (unless it is a life urgency like health or eviction or something like that but no withdrawing to take profit).

If you can do that, after 5 years you will have zero problem becoming a great trader, because you will be capable of studying, learning, watching and knowing everything that happened while staying out, now you will do it while being inside.

[LimLims]

Not only my weakness, many people weakness is money.
When i see that my coin’s price are falling. I really feel terified.
I think to sell, and often end with that only.
For this I already made too loss, as after i sell the coin, the price increases.
But if you see in other way, then it’s better to have something than nothing.
And i am overcoming this weakness of mine, by not investing in volatile coins.

[TimeTeller]

Not only my weakness, many people weakness is money.
When i see that my coin’s price are falling. I really feel terified.
I think to sell, and often end with that only.
For this I already made too loss, as after i sell the coin, the price increases.
But if you see in other way, then it’s better to have something than nothing.
And i am overcoming this weakness of mine, by not investing in volatile coins.

I think that's basically true for all traders.
But there are traders that know how to handle themselves.
Maybe because of experiences and such.
On my end, after I sold my coins, I don't go back and check its price.
Because if I will do that, my head will go crazy if the price increases.
So better move on once you finished your trading.

[TheUltraElite]

Referring to the OP, there are only methods to correct yourself. What problems you face are common but you can make amends to change yourself.

Also, don't fall back on  illnesses as to a reason for your problems. Many people out there are sick but working themselves out of it and seeking help.

Now in case of risk management, my straight advice is not to go with any altcoins but bitcoin. That reduces a lot of risk right away. Now if you are day trading then I hope you have already worked on how to read indicators and charts.

Lastly if you feel you are not being able to cope up with trading or facing a lot of mental problem due to it, it is better to move on with it. Sadly not everyone can cope with the mental trauma that is often there.

[Wawa2013]

I have several weaknesses when trading, including not following the plan, lack of patience and panic selling. These are the three weaknesses that
I still frequently do and try to fight so that they don't happen again. The method is to have a strong commitment to be more disciplined
in implementing strategies when trading, then more often do analysis when trading. In these two ways some of my weaknesses that I have
mentioned slowly have rarely happened, but it is still difficult to eliminate 100% of our weaknesses in trading. Because there are always situations
that often make us make mistakes.

[youdacapt]

My major problem in trading most definitely is Poor risk management. I sometimes see myself more like a gambler then a trader. With that usually comes overtrading because i want to trade for kicks, and even losing gives me kicks. 

From your situation i think you have to learn and understand very well course such as market psychology; as well as a trading psychology. This should help you to understand that as a trader you need to have a trading principle or plan; and good discipline to follow your highlighted targets. Work on  your discipline as a trader