most amazing picture I have ever seen

[danherbias07]

Emotional Trading.
Even pro traders cannot escape from that.
It's not something you could control whenever a dump or a pump happens.
Either you panic or you feel like regretting it in the future if you won't make a choice at that instance.

Sometimes it does save you, but mostly it wrecks the whole plan.

[imstillthebest]

 i guess that trading advices was from binance because of the logo but is the advice officaly came from there ? this is reliable than to the random trading advices scattered anywhere but why would they want to avoid us " trading too often " when there are verry active traders that treat trading as a daily job or a profession .
 the other is " lack of care in extreme conditions " and they used an image of a cloud and lightning .
that makes me wonder if what they meant is a real weather

[AB de Royse777]

it happened to me too. almost in 90% of my trading activity.
please let me know if you want to sell some coins in the future, so I can hold mine, like a reverse signal

LOL
I like the sarcasm. FYI, I have sold some ADA at $1.035 a few weeks ago and then the price went over $1.50 in the next few days :-D

So, if you have ADA then hold them :-P

PS: Those ADA were a sudden discover on the other day. I did not know that I had those. They were bought in last January 2018 and I forgot about them all those days until a few weeks before I sold them.

[pankowri]

Yes, it is a good picture. It would be wrong to say just good pictures because there is a lot of important information here. It is very useful for trade. Because people may forget that they have to face losses for these wrong trades. For those who are new, it will be very easy to understand by looking at the pictures. And it will also help those who trade regularly. For example - if they want to make a mistake while trading, then this picture will have a very good effect to avoid mistakes.

[el kaka22]

I feel like this has been talked about a lot but I do not think that anyone turned that into a chart. Obviously it was binance that did it because they are very high quality, I have recently applied for a job there (remote) and seen their process and I can tell you that they pick their staff very very carefully, I realized I can't do it and gave up but I have seen what they want from people and I can say their staff definitely capable of doing something like this and even more.

These things could be changed or added more, we have like a book full of mistakes people do, we can explain the problems and basically have like a 100 page "what crypto traders should be careful about" book, it would be basically all explaining the same things we talked but it would be a great read for every newbie who starts trading in crypto, I think something like that is much needed.

[cyriljundos]

This is the most amazing picture I have ever seen. How beautifully elaborated all major mistakes within few words

i can also relate in that picture, almost of the traders do that, emotionally trading is quite hard to resolve, dealing with losses causes stress and traders got emotional every day in trading crypto currencies. hopefully i can manage to avoid all of that. Lol.

[TedMosby]

it happened to me too. almost in 90% of my trading activity.
please let me know if you want to sell some coins in the future, so I can hold mine, like a reverse signal

LOL
I like the sarcasm. FYI, I have sold some ADA at $1.035 a few weeks ago and then the price went over $1.50 in the next few days :-D

So, if you have ADA then hold them :-P

PS: Those ADA were a sudden discover on the other day. I did not know that I had those. They were bought in last January 2018 and I forgot about them all those days until a few weeks before I sold them.

I've sold my MANA tokens at $0.65 each.
just a few hours before it hits the new ATH at $1.18.
I bought it at $0.39. I should get more than 300% if I did nothing.
Silence is gold, but doing nothing is diamond.

I should remind you earlier about it, so you can take advantage by activating the reverse signal from me 

[JooBra]

it happened to me too. almost in 90% of my trading activity.
please let me know if you want to sell some coins in the future, so I can hold mine, like a reverse signal

LOL
I like the sarcasm. FYI, I have sold some ADA at $1.035 a few weeks ago and then the price went over $1.50 in the next few days :-D

So, if you have ADA then hold them :-P

PS: Those ADA were a sudden discover on the other day. I did not know that I had those. They were bought in last January 2018 and I forgot about them all those days until a few weeks before I sold them.

I've sold my MANA tokens at $0.65 each.
just a few hours before it hits the new ATH at $1.18.
I bought it at $0.39. I should get more than 300% if I did nothing.
Silence is gold, but doing nothing is diamond.

I should remind you earlier about it, so you can take advantage by activating the reverse signal from me 

You will almost never sell it at the top. Just being sure that you are in profit is good enough. The bigger the profit you get out of it the better. Trying not to be emotional is best thing we can go while trading.

[taufik123]

This is a common problem for all traders and one of them is bound to happen. I have emotional problems that sometimes cannot be controlled and eventually forget the initial trading strategy that must be obeyed. Too emotional is not good. and also trading too often without looking at the conditions is also not good. Too often trade and end up losing. it's so annoying.

Any mistakes that have been made that are included in the image can of course be overcome. Mistakes make us learn not to repeat them and correct them.

[seoincorporation]

Is a great image, it shows all the mistakes that traders do. And the only way to learn is by our own mistakes, but for me is not the most amazing pic. I like more this kind of pic where you see a crazy wall on the markets.

For me that's the amazing face of trading when you know the price only can move for one side.

[Lordhermes]

Over so many times, I had these problems but I opted out from some of them over time as much as I continue to trade, my first problems when trading was;
- Emotional trading.
- Cutting losses.
These above drains down my portfolio until I came to understand that not being emotional and cut losses is a sure way to win trading mistakes.

Also another mistake a trader does is "failure to take profit" no matter the amount of profit gained so far in a trades, be it $5 or less,  it's appreciable. This is another problem to talk about so traders can have a stable portfolio and good trading experience.

[tygeade]

Yeah, the graphic is from Binance as the top left corner has their logo. Now, I want to thank them because they have outlined the mistakes almost accurately, but I would be rather more interested if they could create some educational videos about how to overcome these problems along with this chart. Pointing out mistakes is one of the easiest things to do, even easier when we are asked to point those in someone else but not us.

Emotional trading is such a thing that when you are doing it, you won't realize unless someone who knows better comes and points it out specifically. Almost all of the traders in crypto have gone through times when we buy some coin because everyone was buying it, like right now it can be said for dogecoin, without actually analyzing, which is what emotional trading/investing actually is.

[wiss19]

Honestly these traits sometime are inevitable. We can't master all the perfect recipe for trading. Even we say that we knew the market possible motion, is unexpected arrived based on our prediction and analysis so these traits happened without us noticed it made us did it.

Trading is really a hard task if we are still on the range of learning and mastering it. Cause even professional or expert got loss huge with one of these reason.

I agree and the one who can master most of the problems is the better trader while someone who might work on a few mistakes but not is classified as an average trader and there are newbie traders who haven't even realized their mistakes are at the bottom of the talent tree.

It's like solving puzzles and the one who places the right pieces at the right place quicker has the highest efficiency while some still cannot figure out.

I agree on everything on the list and those are the mistakes I’ve also experienced on my first months of my trading journey. Its normal for you to experience this one, just make sure that you learn along the road and you keep improving your trading skills so you can win on this market. Now, trading everyday is not that ideal so I think its time for me to analyze this one again.

Most of the points are interconnected to each other because someone who trades too often is usually an emotional trader and does not analyze coins and tokens before he trades them or just follows others and buys some tokens. All these points are closely related to each other and controlling just one aspect strictly can actually pull you out of the whole.

[jack05]

I would not say that cutting losses is a mistake. It is possible that for coins where quantity is not limited, such as XRP for example, cutting losses is even necessary, but as history shows, Bitcoin's price is still reaching a new ATH, so in my opinion it is better to wait and sell at a profit than cut losses .

[CoinageMint]

I don't make any trading mistakes, never! Because i follow my foolproof method below..

1. Never cut loses, got to chase them loses
2. 24/7 trading is the only way
3. Really stressed right now, but that will help me trade better
4. Don't tell me why, just tell me how to make more profit. I know best anyway
5. I don't care what the market is doing, crisis trading and let it ride
6. Just tell me what to trade and i will, i trust anyone on the net 100%
7. I think i remember my analysis is foolproof, so all will work out in the end



(I am not qualified to provide trading advice) 

[Ultegra134]

This is the most amazing picture I have ever seen. How beautifully elaborated all major mistakes within few words

Since it's not you who has made this picture, I strongly recommend you add the source.
It looks to be from Binance, I don't know if it's the website or the twitter or whatever.

...And get used to always post the source of whatever you copy from others.

I agree, it should be mentioned that it's taken from the Binance exchange. Apart from the posted photo, Binance offers quite a few guides and information and tips on how to trade and get started. It's the only exchange I've seen doing it.

[TastyChillySauce00]

Emotional trading always gets me, it could indeed influence our decision to become worse and I think it also covers other mistakes that are being pointed out like for example not cutting loses when the dumping of certain coin is imminent because we're in fear its gonna go back up again etc, over all the worst mistake that I've experienced myself.

[uelque]

No one can't deny that it came from Binance. 
That's why majority of people prefer binance than other exchange platforms, because they do have this amazing guides.

Most people actually get caught by their emotions. And I admit I am too, but not all the time. I now know how to handle my emotions unlike during my first time trading in crypto market. I remember how I lost almost 100$ that time investing in token majority of my friends had told me. I should have not listen to them, and rather stick to my trading plan and strategy. My emotion was driven by other people's opinion, and it broke me. But thanks to them, they taught me a lesson.

[Saint-loup]

I would not say that cutting losses is a mistake. It is possible that for coins where quantity is not limited, such as XRP for example, cutting losses is even necessary, but as history shows, Bitcoin's price is still reaching a new ATH, so in my opinion it is better to wait and sell at a profit than cut losses .

I agree with you, cutting losses is very dangerous because that's exactly what whales want you to do when they trigger a bear trap, they want to fear weak hands in order to push them to sell at a lower price than the actual price. And unfortunately it's a very common practice in the crypto universe, the one who sold bitcoins each time there has been a dip has made a very poor operation till now.

[adaseb]

That photo fails to include the most common reason of why many traders end up blowing their accounts and its due to high leverage. Sure you can take some losses by overtrading or by being emotional. However the most common and fast way an account gets blown is due to high leverage.

In crypto we got crazy leverage up to 125x even and it can make an account evaporate in an instant. Even many Forex brokers in the past had lowered their leverage because too many people were losing money and forex barely moves on a day to day basis, crypto is completely opposite.

Its easy to get suckered in trading with a $1,000,000 position with only $10,000 in margin.