Reasons why they get it all wrong when trading.

[QueenVera]

Trading is one of the many ways to participate in the cryptocurency industry and one of the most profitable ways of earning. Trading can be very profitable if you know exactly what you're doing. Traders aren't jokers therefore before you decide to become one, you have to know or have the following characteristics to help guide you. You have to be very smart, the market isn't a friend to fools. You have to be very discipline because if you're not discipline, the market has many ways of taking you off your track with distractions of fud or fomo that can make you lose focus. Here are some reasons of mine why I feel traders get it all wrong when trading.

The number one reason behind every trader picking interest in trading is to make profit, if you aren't making profit then it'll preferably to stop trading and try understanding why you aren't making profit but when a supposed trader refused to stop to reexamine themselves but continue in losses with the hopes of things turning around automatically, they get it all wrong.

As a trader you should be okay with making some losses as there's more lessons in losses than profit, a profitable traders can get so full of themselves that if they're not cautious, they could make a very serious mistake that could end their trading career. When a traders begin to get afraid of losses then they're doing it all wrong and if things aren't address in time it would result in that same losses they were afraid of in the first place.

Traders can't help it buts trust exchanges to help store their funds they used for trading but you should never over trust an exchange to keep all or very large amount of funds on them, if not you're doing it all wrong. If your trades has been very profitable, consider withdrawing some of the funds to your personal wallet as no exchange is hacked free, they can be hacked at any moment and you wouldn't want all your eggs to be exposed when the snake come attacking.

Like I earlier said, traders should be self discipline, when a trader begin to become too greedy he or she is doing it all wrong. Profit taking is a key skill every trader should learn as it's very vital in becoming a successful trader.

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[Mpamaegbu]

As a trader you should be okay with making some losses as there's more lessons in losses than profit

That's very deep, indeed. In fact, it's a paradox which a lot of traders won't understand. Taking losses makes a trader sobre up unlike winnings which gets any trader raved up in excitement. Sadly, not many traders want to learn through losses. It calls for reflexion, sincerely.

Like I earlier said, traders should be self discipline, when a trader begin to become too greedy he or she is doing it all wrong. Profit taking is a key skill every trader should learn as it's very vital in becoming a successful trader.

This is that devil every trader battles with — greed. We all want to get more out of the market. Sadly, this also could turn sour and return to loss.

[so98nn]

Hmm, not only market is unfriendly sometimes but it also sucks the money when conditions are right. You know why this happens? Because we make small small mistakes while doing so!! Trading is joke if you are doing it without any prior knowledge or analysis. Obviously this is why we have brokers, staff with astounding technical and fundamental analysis knowledge. Without them institutional investment firms would never grow into billion dollar industries. So if we even want a spoonful profits from the oceans we must learn to analyse, predict, and then invest. That makes the perfect trading. In crypto situation is far different than the real share market due to its volatile nature so added facts are bonus while trading.

[Alisha-k]

Most often greed happens to be the killer for most traders. Some traders have good entry point , nice analysis and during the course of a trade happens to make good profit but would deliberately refuse to take profit due to greedy mind set. This emotional states would cause the trader to loose even the little profit made during this cause. I believe self dicipline as you rightly said @op is all that is needed to succeed as a trader

[Rengga Jati]

.. Traders aren't jokers therefore before you decide to become one, you have to know or have the following characteristics to help guide you. You have to be very smart, the market isn't a friend to fools.

Exactly.
Some mistakes done right now is about trading only by following other people and not doing our own research and analysis.
We all know that trading always involves risks, not only about getting profits. but, as we know, many newbies start their trading by only following others. This is what commonly makes many people lose their money. Not even doing any analysis at first. Although when trading, we may lose our money and also get other profits,, it will be higher risks without any good strategy in trading.

I do always agree that Ignorance, FOMO, greed, and panic are some of the most to avoid in trading.

[nelson4lov]

Great points made there OP. I'm going to pick the most important points I can relate to and share my knowledge. While I'm still learning the art of trading, I definitely have a thing or two to add to the discussion.

~Snipped
The number one reason behind every trader picking interest in trading is to make profit, if you aren't making profit then it'll preferably to stop trading and try understanding why you aren't making profit but when a supposed trader refused to stop to reexamine themselves but continue in losses with the hopes of things turning around automatically, they get it all wrong.

I have seen this problem a lot of times not just in my journey but other traders have met along the way have/had this problem. To be honest, there is no joy of losing trades and most traders don't see past those losses forgetting there are hidden, valuable lessons in them. The first step after making a losing trade is to take a step back and make evaluations to see what went wrong with the previous plan and how it can be fixed in the next iteration so that it doesn't happen again. But if it's not checked, it can become a pitfall in the future for the trader.

Traders can't help it buts trust exchanges to help store their funds they used for trading but you should never over trust an exchange to keep all or very large amount of funds on them, if not you're doing it all wrong. If your trades has been very profitable, consider withdrawing some of the funds to your personal wallet as no exchange is hacked free, they can be hacked at any moment and you wouldn't want all your eggs to be exposed when the snake come attacking.

This point would play out nicely with established traders with a good account and not a beginning trader trying to survive with their small-medium sized accounts.

[jossiel]

I agree that it is greed that make some traders commit mistakes.

They don't want to take notice of it because all they think is about larger profit than what they have in the present. But if you're trading, you should really secure your profits as long as it's a gain for you, you have to secure it.

And for the other trades because they're greedy, they're missing all the potential profits that they should get because they're asking for more.

[Desmong]

Trading is one of the many ways to participate in the cryptocurency industry and one of the most profitable ways of earning. Trading can be very profitable if you know exactly what you're doing. Traders aren't jokers therefore before you decide to become one, you have to know or have the following characteristics to help guide you. You have to be very smart, the market isn't a friend to fools. You have to be very discipline because if you're not discipline, the market has many ways of taking you off your track with distractions of fud or fomo that can make you lose focus. Here are some reasons of mine why I feel traders get it all wrong when trading.

The number one reason behind every trader picking interest in trading is to make profit, if you aren't making profit then it'll preferably to stop trading and try understanding why you aren't making profit but when a supposed trader refused to stop to reexamine themselves but continue in losses with the hopes of things turning around automatically, they get it all wrong.

As a trader you should be okay with making some losses as there's more lessons in losses than profit, a profitable traders can get so full of themselves that if they're not cautious, they could make a very serious mistake that could end their trading career. When a traders begin to get afraid of losses then they're doing it all wrong and if things aren't address in time it would result in that same losses they were afraid of in the first place.

Traders can't help it buts trust exchanges to help store their funds they used for trading but you should never over trust an exchange to keep all or very large amount of funds on them, if not you're doing it all wrong. If your trades has been very profitable, consider withdrawing some of the funds to your personal wallet as no exchange is hacked free, they can be hacked at any moment and you wouldn't want all your eggs to be exposed when the snake come attacking.

Like I earlier said, traders should be self discipline, when a trader begin to become too greedy he or she is doing it all wrong. Profit taking is a key skill every trader should learn as it's very vital in becoming a successful trader.

You have written well and I think you deserve an accolade but sometimes things are easier said than done. Op needs to understand more of the trauma one face with the mind of being a winner especially if one is not equipped with the necessary tools that is required in trading. Trading requires so much devotions and updates to know what news that can trigger the market trend so that preparation can be made to execute trades.

I am a trading so sometimes it's never easy to be an all time winner in Trading even with the necessary analysis that is needed to place a trade, one still have the 50 percent probability of losing a trade. Risk management and trading psychology should be one of the important skill one must learn or prepare himself toward in order to have a successful trading apart from the strategy and patterns of trading.

[Hamphser]

I agree that it is greed that make some traders commit mistakes.

They don't want to take notice of it because all they think is about larger profit than what they have in the present. But if you're trading, you should really secure your profits as long as it's a gain for you, you have to secure it.

And for the other trades because they're greedy, they're missing all the potential profits that they should get because they're asking for more.

When you do rush up on trading without even knowing the basic fundamentals or even just getting the main idea then you are really prone to mistakes on where most noobs do commit.

Its true that most of the time where greed do sets in and in result you would really be rushing up on making positions or orders without having any analysis or basis.

Sooner or later you would really be learning up things when you do gain sufficient knowledge and experience along the way thats why i can say that those are just normal scenarios
for people to learn up.

[OgNasty]

Trading is one of the many ways to participate in the cryptocurency industry and one of the most profitable ways of earning.

I would reword this...  Maybe to, Trading is the most useless way to attempt to get involved in the crypto industry.  It is also how a majority of users lose all their funds.  Finally, the users behind these pump and dump schemes will pretend that you have a chance to profit, when really they are just marketing to you in order to steal your funds.

I stand by the statement that the most effective trader is a dead trader, because they are then forced to hold (statistics back this up).  Sure, you might get lucky and benefit from the Greater Fool Theory every now and again, but make no mistake that is what you're doing.  Rather than trying your best to be at the front of the pack of fools so you can profit, why not actually do something meaningful and build a real position behind something you believe in it's long term prospects?  Too many people think 'getting involved' means buying a piece and spamming on social media.  I think if you aren't willing to use and build out the infrastructure of a crypto investment, you are just gambling and would have more fun betting on sporting events.  

Trading isn't participating in crypto.  It's participating in gambling.

[taufik123]

Trading is simple, buy when it's cheap and sell when it's expensive. But the reality is not as simple as that statement, trading requires mental readiness and adequate trading knowledge. Don't trade if you only rely on guesswork and not analysis.

Trading is not always profitable, profit and loss are common, but how can we keep our capital and get consistent profits.
Greed will indeed be a problem when trading, this is also related to the readiness of trading psychology.
Many trading mistakes will be made when you are not ready with all the trading risks and lack of trading knowledge.

[gabbie2010]

Some traders get involved in trading without a strategy, a working strategy would guarantee earning profits in a long term basis despite incurring some losses, a trader needs to work towards making profits with a reasonable risk to reward ratio of minimum  of 1:2 in some trades. A trader can earn triple or more profits with a minimum risk even with losses, trading with small percentage of the total portfolio  will keep such a trader in the busines for a long time. However it is very common to see traders who want to get rich quick trading with huge amount of funds without considering the risk involved of course such trader will rekt their portfolio swiftly.

[Yamifoud]

Base on my experience, one reason why a trader got too difficult to make a profit in trading is that lack of knowledge and skill.
We don't just think that trading is easy to win and we can't be confident that learning the basics is good enough because the reality is that it needs deep market understanding and effective strategies.
All of us are certainly be experiencing losses in our early days in trading but it doesn't mean that it was the end of our trading journey. We can do things right as long as we wanted but we also have to remember that we don't need to push ourselves if we know that it still never works, better to leave instead.

[Wexnident]

You have to be very smart, the market isn't a friend to fools.

Not really smart, more like knowledgeable perhaps? You've already won half the war if you know what you're going to enter after all. The other half is putting that knowledge to your advantage and practice it, after all, you can't exactly change the situation of the market BUT you can use the situation instead to favor your decision makings. Ofc, good decision making is also required but that would require time and experience in the trade since even with the amount of data you have, you'd still need to know what to do with it.

[bittraffic]

A trend is a friend. This is often the advice of a swing trader that I've followed for a long time. He doesn't trade when the trend is not friendly like if the market is just moving sideways, don't trade. This is kind of a discipline and if you don't maintain this discipline, there will be more losses.

Hard to be disciplined that you need to be reminded over and over and the losses that you experience are reminders.

[dimonstration]

A trend is a friend. This is often the advice of a swing trader that I've followed for a long time. He doesn't trade when the trend is not friendly like if the market is just moving sideways, don't trade. This is kind of a discipline and if you don't maintain this discipline, there will be more losses.

Hard to be disciplined that you need to be reminded over and over and the losses that you experience are reminders.

Knowing the active coins as well discovering the new ones that are about to get hyped or showing potential for early hit will also help. There coins now or projects that are getting popularity die to their ideas and being able to be early adopters will be a great help in trading. Though it is risky if our assessment in that coin is wrong it can be a lose or win if it gets some hype. Joining sometimes in some groups help in deciding what to trade.

[Ararbermas]

New traders nowadays just follow what they see and what they learn in the internet, what i mean they always make decisions without further planning..probably it's because of greediness and thoughts that  doing trading its just an easy work.. Lol  because they don't make a way just to assure they all have enough and reliable key when it comes trading.. Wherein one information for them is enough. That's why its not surprising anymore why most of them were failed when it comes trading.

[Woodie]

The number one reason behind every trader picking interest in trading is to make profit, if you aren't making profit then it'll preferably to stop trading and try understanding why you aren't making profit but when a supposed trader refused to stop to reexamine themselves but continue in losses with the hopes of things turning around automatically, they get it all wrong.

I agree with you but losing is part of the learning process when it comes to being a successful forex trader but not extreme losses  of course. Once you understand how to turn losing trades into winning ones then you are one step closer to success.

no exchange is hacked free, they can be hacked at any moment and you wouldn't want all your eggs to be exposed when the snake come attacking.

Crypto exchanges need to introduce some kind of insurance to protect their customers Crypto assets because it's unfair to pass the damage over to the customer.

[jossiel]

I agree that it is greed that make some traders commit mistakes.

They don't want to take notice of it because all they think is about larger profit than what they have in the present. But if you're trading, you should really secure your profits as long as it's a gain for you, you have to secure it.

And for the other trades because they're greedy, they're missing all the potential profits that they should get because they're asking for more.

When you do rush up on trading without even knowing the basic fundamentals or even just getting the main idea then you are really prone to mistakes on where most noobs do commit.

Its true that most of the time where greed do sets in and in result you would really be rushing up on making positions or orders without having any analysis or basis.

Sooner or later you would really be learning up things when you do gain sufficient knowledge and experience along the way thats why i can say that those are just normal scenarios
for people to learn up.

People tend to rush because they think that it's an easy job for traders to make money.

But once they steps on it and see the differences of trading in actual and with what they have on their minds, they'll realize how hard it is and how to set their minds.

Because greed will really pull them down.

[7788bitcoin]

~
Traders can't help it buts trust exchanges to help store their funds they used for trading but you should never over trust an exchange to keep all or very large amount of funds on them, if not you're doing it all wrong. If your trades has been very profitable, consider withdrawing some of the funds to your personal wallet as no exchange is hacked free, they can be hacked at any moment and you wouldn't want all your eggs to be exposed when the snake come attacking.

It is really important to find a trusted trading platform and even if i find a trusted exchange i will not trust them for holding my funds if i am not trading as we already saw dozens of so called trusted exchanges ceasing to exist.  

Like I earlier said, traders should be self discipline, when a trader begin to become too greedy he or she is doing it all wrong. Profit taking is a key skill every trader should learn as it's very vital in becoming a successful trader.

Majority of the traders jumping into the cryptocurrency market move in expecting huge returns and you cannot call them greedy, if you ever invest in the market especially in the altcoin market understand the risk as only Bitcoin is the only coin that can benefit you in the long run.

[Oceat]

This is very accurate trading is not a friend you have to outplay your way in the market, another significant point there is discipline if one lacks discipline then you are not good at cryptocurrency trading because you can not make good trading decisions.

Indeed, that trading is not good if you lack of discipline but did you know that trading is not for people who can't control their emotions will lose the ability to trade properly or to take profit? Trading is just so simple exactly, you just have to buy and sell but it determine your profit whether you buy it high or low and sell it high or low.

After all, trading is just buying and selling but the only difference is how you good you are at buying and selling in order to make profit.

[Quidat]

This is very accurate trading is not a friend you have to outplay your way in the market, another significant point there is discipline if one lacks discipline then you are not good at cryptocurrency trading because you can not make good trading decisions.

Indeed, that trading is not good if you lack of discipline but did you know that trading is not for people who can't control their emotions will lose the ability to trade properly or to take profit? Trading is just so simple exactly, you just have to buy and sell but it determine your profit whether you buy it high or low and sell it high or low.

After all, trading is just buying and selling but the only difference is how you good you are at buying and selling in order to make profit.

All traders had actually experienced this stuff when we do start from being noob to professional.Emotions would be the main enemy aside from being unknowledgeable or inexperienced towards the market because we know that if emotions do set in then it is where bad decisions or bad calls would really be next in line and this is where i do believe that main factor that affects traders even you are already experienced because we are just human beings and its just normal to have those kind of reaction moments but as we do go further then we do really gain experience then this culprit would really be gradually be controlled
and when you had done this then you would find yourself a bit efficient on making out your trades.

[Ryker1]

^[snip]

Like I earlier said, traders should be self discipline, when a trader begin to become too greedy he or she is doing it all wrong. Profit taking is a key skill every trader should learn as it's very vital in becoming a successful trader.

Majority of the traders jumping into the cryptocurrency market move in expecting huge returns and you cannot call them greedy, if you ever invest in the market especially in the altcoin market understand the risk as only Bitcoin is the only coin that can benefit you in the long run.

Well, almost all the time jumpers have become a loser especially if they are new in the trading field. No, they are greedy because they jumped even without knowledge and skills about trading, because perhaps they had heard about possible and potential profit in trading, some others are invested in different new launched projects hoping that there is a big ROI will come but in fact, they keep losing and perhaps the reason leaving in the market and blindly accepted their losses. It is indeed a good insight by the OP.

[Ziskinberg]

Well, almost all the time jumpers have become a loser especially if they are new in the trading field. No, they are greedy because they jumped even without knowledge and skills about trading, because perhaps they had heard about possible and potential profit in trading, some others are invested in different new launched projects hoping that there is a big ROI will come but in fact, they keep losing and perhaps the reason leaving in the market and blindly accepted their losses. It is indeed a good insight by the OP.

They are putting themselves in a trap. This will happen when we already love the money and we could think that trading makes us rich too quick but absolutely we are wrong and much more if we don't have knowledge about this.

Perhaps, trading is not for everyone, if you just keep losing despite the hard work and effort you've made, definitely, this is not for you. We can't force to take this if this will be just the result, better to find a place where we are comfortable and happy with the results.

[joniboini]

So are we talking about trading trusting cex too much or the greed to make profits? Are both of them new anyway? I think most people already know this. Greed and trusting exchange cause a lot of problems here and there.

I suggest searching for trading mistakes on this forum or google, you'll find a lot of discussions about it from years ago.

[nelson4lov]

So are we talking about trading trusting cex too much or the greed to make profits? Are both of them new anyway? I think most people already know this. Greed and trusting exchange cause a lot of problems here and there.

I suggest searching for trading mistakes on this forum or google, you'll find a lot of discussions about it from years ago.

Yes, this isn't the first time the problem of trusting exchanges or being greedy during trading is being discussed in the forum. As a matter of fact, it has been discussed dozens of times before this but it's still nice to have a reminder about it. Plus, regardless of the 3 major points op shared, there's still something to be learnt ~ either in OP or in the comments that followed. I know this because I took time to read some of the replies.

[Shasha80]

So are we talking about trading trusting cex too much or the greed to make profits? Are both of them new anyway? I think most people already know this. Greed and trusting exchange cause a lot of problems here and there.

I suggest searching for trading mistakes on this forum or google, you'll find a lot of discussions about it from years ago.

Yes, this isn't the first time the problem of trusting exchanges or being greedy during trading is being discussed in the forum. As a matter of fact, it has been discussed dozens of times before this but it's still nice to have a reminder about it. Plus, regardless of the 3 major points op shared, there's still something to be learnt ~ either in OP or in the comments that followed. I know this because I took time to read some of the replies.

Although it has been discussed thousands of times regarding the problems of over-trusting exchanges and greed when trading. There are still people
who make these mistakes, which means that we all need to remind each other continuously. Because I think this problem is most often experienced
by traders, they think popular and reputable exchanges are safe to keep all their money. Then there are still very many traders who can't control
their greed. Therefore, it is a positive thing if topics like this keep popping up, because they are very important as reminders. In order to avoid
the wrong thing when trading.

[Rajamuda]

Thank you for giving a lot of things that really need to be studied carefully, here I am including people who really want to be reminded and want to be more inclined to improve trading activities so that I can become a better trader, and this can be a source of motivation for me.

[lightning0]

Thanks for the questions raised by the host, and I have benefited from everyone's communication.These questions are what we will have to become a qualified trader.
So I briefly summarized everyone's views:

1. "Fear the market and always keep a clear mind; the lesson of loss is more than profit; don't put most of the funds in the exchange" (find a trusted exchange) to ensure your transaction;

2. Greed is a big taboo, and stop loss is a common operation;

3. "A lot of investigation, analysis, and trading strategy should be made before trading, and then invest again";

4. "Ignorance, FOMO, greed and panic are the most important things to avoid in trading". Control your emotions;

5. Check, review and correct your own transactions;

6. Control your own trading risks and continuously enhance your learning awareness;

7. Follow the trend and operate self-discipline.

There are still some that I have definitely not noticed. Thanks again to the people who helped.

[crzy]

There's a lot of reason why some traders are losing much money in the market, maybe they are not well prepared emotionally, mentally and financially because this market is very stressful even if you know how the trading works, if you don't have self-discipline then you'll get burn later on.

Being greedy is one of the reason why traders are crying as they lose their money, they didn't commit on their target price and they become more greed forgetting about the volatility in the market. Setting up your target price and cut loss level can prevent you from being greedy, you should know that taking profit most of the time is very important.

[Peanutswar]

There is a number of people who would like to join in the trading but some of them don't know where it starts but I guess most of the traders mistakes are doing the Fear of missing out and does not have a trading plan. A trading plan is one of the most essential strategies nowadays no matter what happens in your trading, a trading plan is a guide if you lose. Also, some of the beginners if they lose on futures trading with a small amount they are still getting holding the position even the graph already give them a hint about the possible outcome of their position.  Always be conscious when your in trading its not all about emotions its all about the strategy to win profit and prevent too much loss.

[milewilda]

So are we talking about trading trusting cex too much or the greed to make profits? Are both of them new anyway? I think most people already know this. Greed and trusting exchange cause a lot of problems here and there.

I suggest searching for trading mistakes on this forum or google, you'll find a lot of discussions about it from years ago.

Trading mistakes has nothing to do with trusting on cex because it has nothing to do with your trading outcome or profitability but of course with the accompanied risk then we should be aware.
Common reasons about getting wrong with your trading is we do become greedy too much which do result into non learning of the basics or things to consider when you do engage with trading.
This would involve lots of trials and errors which should people do really expect to experience.Thing here is that you do learn up from those mistakes because this would be a stepping stone
for you to succeed on this career, it might sound simple but its not but really worth for you to engage on.

[jostorres]

As a trader you should be okay with making some losses as there's more lessons in losses than profit

Such a sweet and true statement and it's important to face and conquer losses earlier in your trading career. When traders don't know how loss feels and only taste profit in their life, they might not be able to handle a loss which is inevitable at some point for even the best ones, given how volatile crypto trading is.

Like I earlier said, traders should be self discipline, when a trader begin to become too greedy he or she is doing it all wrong. Profit taking is a key skill every trader should learn as it's very vital in becoming a successful trader.

A good balance between greed and fear is important like you said because too much of either one of these can be bad. You must be able to wait long enough to encash the asset but not greedy enough to let the peak point slip in hope of even higher prices.

[Raflesia]

There's a lot of reason why some traders are losing much money in the market, maybe they are not well prepared emotionally, mentally and financially because this market is very stressful even if you know how the trading works, if you don't have self-discipline then you'll get burn later on.

Being greedy is one of the reason why traders are crying as they lose their money, they didn't commit on their target price and they become more greed forgetting about the volatility in the market. Setting up your target price and cut loss level can prevent you from being greedy, you should know that taking profit most of the time is very important.

That's because his mentality is not completely ready to make real trades and the word discipline is important with the target he is aiming for and if he just wants to go higher then I think that all the money will slowly run out and forget about it. the pattern in which they start their commitment.

Sometimes with greed we always forget the main goal about emotional and financial we even have reached the target we always ignore it because in crypto trading it requires good skills and discipline so you can get better benefits.

[rosebrand]

This is very insightful and have also learnt some things frim this post as well. We all here about greed in almost every time and still yet we fall for it, most of us don't learn until we are dealt with, i have been trading for a while and making cool profits, due to greed i almost lost everything both profits and capital, so bad i learnt my own lesson the hard way and now am trying every possible to control my greed.

[leea-1334]

So are we talking about trading trusting cex too much or the greed to make profits? Are both of them new anyway? I think most people already know this. Greed and trusting exchange cause a lot of problems here and there.

I suggest searching for trading mistakes on this forum or google, you'll find a lot of discussions about it from years ago.

Nah,,, it is nothing new but I think people are actually now also getting tired of scammed from DEXs especially now defi rugpulls and all that happening so maybe that is not an old news and I think some of these discussions will inevitably get the "why not use DEX" solutions which of course is totally misguided.

Trusting DEXs is still trusting teams and I would trust anons less than regulated CEX to be honest.

[Fesatmas]

Trading is one of the many ways to participate in the cryptocurency industry and one of the most profitable ways of earning. Trading can be very
Like I earlier said, traders should be self discipline, when a trader begin to become too greedy he or she is doing it all wrong. Profit taking is a key skill every trader should learn as it's very vital in becoming a successful trader.

Well, this is a greedy mentality that is the wrong step in continuing to trade. following the lust which is actually the starting point for facing big losses in front of our eyes.
It seems what you are trying to convey, based on the results of psychologist research of every trader experiencing high levels of stress. Ah, it's been felt in almost all circles. even we did not escape from such conditions.

[Lakai01]

Trusting DEXs is still trusting teams and I would trust anons less than regulated CEX to be honest.

I have come to see it the same way. Especially in the early days of DEX, I think you could trade there much more safely than nowadays, where so many scammers and entire scam teams/tokens are out and about, just waiting to rip you off:

As Decentralized Finance (DeFi), particularly decentralized exchanges (DEX), experience an explosive jump in popularity, the number of fraudulent actors and schemes grow simultaneously, looking to take advantage of sudden growth of these exchanges. An Ethereum liquidity provider, Uniswap has seen a worrying increase in scam tokens on the platform, according to Crypto Briefing.

Source

This article is from 2020 and the whole DEX scam thing got way worse by now.
This will eventually lead to either regulatory measures for DEX (the question is how) or to DEX losing its importance completely, as people prefer to trade on centralized exchanges again and don't run the risk of losing their coins there.

[jaberwock]

Perhaps, trading is not for everyone, if you just keep losing despite the hard work and effort you've made, definitely, this is not for you. We can't force to take this if this will be just the result, better to find a place where we are comfortable and happy with the results.

Very true. Not everyone can be a trader because I have felt that myself after trying my best in trading for years, I have failed miserably and I feel no shame because I gave it my best shot and not everyone can be a trader, that's a fact!

I will continue to try for some more time and see if it works out because earlier I was trying to invest in altcoins but now I will try my luck and skills with the price trading or day trading as some call it.

So are we talking about trading trusting cex too much or the greed to make profits? Are both of them new anyway? I think most people already know this. Greed and trusting exchange cause a lot of problems here and there.

Trusting exchanges and keeping balance on centralized exchanges is indeed a good point and risky aspect of trading but one can easily switch to decentralized exchanges if that's a big issue for them.

[abel1337]

Perhaps, trading is not for everyone, if you just keep losing despite the hard work and effort you've made, definitely, this is not for you. We can't force to take this if this will be just the result, better to find a place where we are comfortable and happy with the results.

Very true. Not everyone can be a trader because I have felt that myself after trying my best in trading for years, I have failed miserably and I feel no shame because I gave it my best shot and not everyone can be a trader, that's a fact!

I will continue to try for some more time and see if it works out because earlier I was trying to invest in altcoins but now I will try my luck and skills with the price trading or day trading as some call it.

I also believe this, Not everyone could be a trader. I mean a trader who does what experienced traders do to make a successful trade. Anyone could be a trader but if they lose a lot it's hard justifying it. Everything could be learned and trading is one of them but there are things on trading that can be really hard to learn like the psychology of trading.

[Helpme_please]

I also believe this, Not everyone could be a trader. I mean a trader who does what experienced traders do to make a successful trade. Anyone could be a trader but if they lose a lot it's hard justifying it. Everything could be learned and trading is one of them but there are things on trading that can be really hard to learn like the psychology of trading.
[/quote]in simple word, everyone could trade but not all of them could be good trader. Be a trader was not easy way for us, we will face bloody journey when we decided to involved in this job. Our money will lose, our mental will pressed and its happen continuesly untill we have good skill. Some people will give us and decided to quit from market , but another  one will success and get financial freedom.

[Distinctin]

There is a perfect time for trading and that when we are already prepared for the things needed. Knowledge, strategies, enough capital, and also your mindset. If we don't have any of them, you can simply think that trading will not be meant for you then.

Well, some say just try. Okay, let us try and find ourselves to get lost. That is really easy that trading is not difficult, you can just do buy at low and sell at high, of course, they are right, but it never works if we don't have knowledge about the market and TA's.

[danherbias07]

When a traders begin to get afraid of losses then they're doing it all wrong and if things aren't address in time it would result in that same losses they were afraid of in the first place.

It's like a sickness. It happens mostly to those who made their profits for the first time and then losses midway.
I won't say it didn't happen to me before and up until now. Who loves losing? We all want a win-win scenario but that is not how trading is.
IMO, it's a learning point too. It occurs for a reason and it's a stepping stone for us to grow emotionally and use it in the long run.
Embracing the losing experience is the difficult part, learning that it's part of trading is the worst. This is the turning point where we decide if we are still trading or we are already gambling.

[Hippocrypto]

On my experiences as a trader, one reason I would like to share was greed. The more you expect from the current market hype, is somewhat will make you fall into wrong decision. Most often times I failed too much and losses a lot opportunity because of wrong mindset.
That's why it happened, I had no other options but to wait for another price outbreak in order to survive and take back my profit.

[yhiaali3]

Many people think that trading is just buying at a low price and selling at a higher price, in theory this is true but in reality trading is like a hunting trip in a forest full of risks, if you are not aware enough of the risks that forests contain and do not have experience in dealing with such Risks may lose your life, but if you have sufficient knowledge and experience, you will return with a large catch.
Trading is the same. If you do not have enough knowledge and experience to deal with all the possibilities that you may face in the market, you will eventually end up in bankruptcy, but when you develop your knowledge and experience before you start trading and have good personal qualities, you will surely achieve some important successes.

[taufik123]

-snip-

For some beginners, they don't really think about trading knowledge, they just use the words of their friends or other people, so they go bankrupt and claim that trading in crypto is very bad and a scam. Even though they have not learned the basic knowledge of trading.

I also didn't know what to do at first when trading crypto. Basic knowledge of technical analysis and fundamentals is the main benchmark for reading where the market will go. Mistakes in trading are common, but they must be corrected immediately.

[horrifiedx1]

Many people think that trading is just buying at a low price and selling at a higher price, in theory this is true but in reality trading is like a hunting trip in a forest full of risks, if you are not aware enough of the risks that forests contain and do not have experience in dealing with such Risks may lose your life, but if you have sufficient knowledge and experience, you will return with a large catch.
Trading is the same. If you do not have enough knowledge and experience to deal with all the possibilities that you may face in the market, you will eventually end up in bankruptcy, but when you develop your knowledge and experience before you start trading and have good personal qualities, you will surely achieve some important successes.

right, trading is like hunting in the forest, if we just walk, we will never find our way home, in contrast to us if we are facilitated with maps and compasses, then we will know where we have to go. there are many things to master in trading and forever we will study the market, because no one knows where the market will go

[traderethereum]

-snip-

For some beginners, they don't really think about trading knowledge, they just use the words of their friends or other people, so they go bankrupt and claim that trading in crypto is very bad and a scam. Even though they have not learned the basic knowledge of trading.

I also didn't know what to do at first when trading crypto. Basic knowledge of technical analysis and fundamentals is the main benchmark for reading where the market will go. Mistakes in trading are common, but they must be corrected immediately.

If you have those basic and you are really after in learning more about this business, it's tough at first but along the way you'll
gonna use doing it and start enjoying everything.

You just need to allocate time in seeking the right patterns to follow and try to keep enhancing things from time to time. It's all
on you no one to be blame.

The important thing is that he needs to learn about trading and realize that they can not always make a profit daily as the market will have a different movement every day.
When he can learn the analysis and can determine when he can trade and quit trading, that is a matter of time he will make a profit.
Having discipline also helps him follow every step of the trading lesson and not be afraid if he gets losses and considers that part of the lesson becoming a pro trader.
If he can pass his daily lesson and try to trade, sooner or later, he will become a pro trader, even without he realizes that he already achieve that.

[Kelvinid]

Many people think that trading is just buying at a low price and selling at a higher price, in theory this is true but in reality trading is like a hunting trip in a forest full of risks, if you are not aware enough of the risks that forests contain and do not have experience in dealing with such Risks may lose your life, but if you have sufficient knowledge and experience, you will return with a large catch.
Trading is the same. If you do not have enough knowledge and experience to deal with all the possibilities that you may face in the market, you will eventually end up in bankruptcy, but when you develop your knowledge and experience before you start trading and have good personal qualities, you will surely achieve some important successes.

right, trading is like hunting in the forest, if we just walk, we will never find our way home, in contrast to us if we are facilitated with maps and compasses, then we will know where we have to go. there are many things to master in trading and forever we will study the market, because no one knows where the market will go

Learning how to trade had no shortcuts. And we need to spend more time to make ourselves grow and enhance our market knowledge. That is how it pictured out and we don't need to rush otherwise, you end up shortly suffering losses and frustration.

A lot of people had done that way and they just fail. Now that they realize they are wrong but it was too late. However, losing on our first try is not the end of our trading journey, there is 2nd and 3rd chance or until you find yourselves incapable of doing this.

[semobo]

Like I earlier said, traders should be self discipline, when a trader begin to become too greedy he or she is doing it all wrong. Profit taking is a key skill every trader should learn as it's very vital in becoming a successful trader.

You are the only one responsible for everything you decide so it becomes mandatory to be more responsible with every decision you make and one thing I want to mention is avoid day trading which is profitable which I am not denying that but being profitable while doing day trading is highly not possible so always g with long term trading which will give better margin for your risk taking.

[CryptopreneurBrainboss]

Reasons why they get it all wrong when trading.

The simple reason has to be the need to make quick profits as possible. Influencers all over the web make it seems like it's very easy trading for a living as they post false trading results meanwhile most of them aren't even traders. They parade themselves as professional traders while they live off the stupidity of their followers believing them as they either buy any of their courses or giving them funds for them to trade.

If anyone interested in trading takes it upon themselves to learn before they actually start engaging themselves in the act of trading then all you have highlighted won't be an issue. Constant practice will help you master your trading strategy, emotions like greed etc.

[leea-1334]

Trusting DEXs is still trusting teams and I would trust anons less than regulated CEX to be honest.

I have come to see it the same way. Especially in the early days of DEX, I think you could trade there much more safely than nowadays, where so many scammers and entire scam teams/tokens are out and about, just waiting to rip you off:

Right? Those early DEXs that people claimed were more centralized than today's DEXes were still good. Slow and super low liquidity but you did not get ripped off as much.

Today you have smooth DEX like Uni or Pancake, so beautiful, so easy to use, but then you look at the percentage of scam tokens. Broken whitepapers and utterly trash communities who say nothing but share memes in channels.

When you see all this you feel like regulated CEX is safer for your money.

[xSkylarx]

Like I earlier said, traders should be self discipline, when a trader begin to become too greedy he or she is doing it all wrong. Profit taking is a key skill every trader should learn as it's very vital in becoming a successful trader.

You are the only one responsible for everything you decide so it becomes mandatory to be more responsible with every decision you make and one thing I want to mention is avoid day trading which is profitable which I am not denying that but being profitable while doing day trading is highly not possible so always g with long term trading which will give better margin for your risk taking.

Emotion is the biggest opponent in trading because it can impact your decision making and prevent you from focusing on your strategy; overcoming it would be beneficial. The other is to set a goal, such as gaining a certain amount. What I learned from my past trading experience is to create a target profit and a stop loss, both of which are quite beneficial. If you are greedy, you will see your account burn and you will lose a lot of money. Though they usually claim that emotion drives us to make decisions that we should not, we must learn to control our emotions.

[Smartvirus]

The number one reason behind every trader picking interest in trading is to make profit, if you aren't making profit then it'll preferably to stop trading and try understanding why you aren't making profit but when a supposed trader refused to stop to reexamine themselves but continue in losses with the hopes of things turning around automatically, they get it all wrong.

Your right. It's a normal to be wrong but then, when you get it wrong and you've noted it to be a reoccurring thing and it's causing you money, what do you do?
It's to pause and re-examine the process. Ask yourself questions as to why your not getting it right and you might just track your mistake.

As a trader you should be okay with making some losses as there's more lessons in losses than profit, a profitable traders can get so full of themselves that if they're not cautious, they could make a very serious mistake that could end their trading career. When a traders begin to get afraid of losses then they're doing it all wrong and if things aren't address in time it would result in that same losses they were afraid of in the first place.

Most persons are not okay with loosing at all, they feel its all rossy in investments or trading you know. Loosing seems abnormal but then, its a part of business. Its when you loose that someone else's gains and vice versa. So, as a trader or investor, you've got to be okay with loses and most of all, you learn from them. Its All that matters.

[Cryptoababe]

Even as profit trading is the key to every traders success, two side trading is also part of the factors needed to be a successful trader.
Some traders only do one side trading and this is why most of them end up in loss

[Issa56]

Most traders what always kill them is greedy sometimes in trading you have to take a little profit and move or wait for dump before buying again but if you think you want a coin to do 2x,3x,4x before selling which is bad seriously is really good you aim high and sometimes is just better you sell with the little profit you are having and wait for retrace to avoid losing your money completely.

[CaVO32]

Most traders what always kill them is greedy sometimes in trading you have to take a little profit and move or wait for dump before buying again but if you think you want a coin to do 2x,3x,4x before selling which is bad seriously is really good you aim high and sometimes is just better you sell with the little profit you are having and wait for retrace to avoid losing your money completely.

I think a lot of us are guilty with that kind of thinking at one point in our trading. That's human nature, we want to earn more as much as we can. But as we traverse this trading life, we learn more and we realize that chasing those high profits is not always worth to take. Because a lot of these projects turned out to be crap, you can't even get your initial investments back. It is better to keep valuable projects with active use case in the market. But for those pump and dump coins, better get rid of them while you can.

[Johnyz]

Most traders what always kill them is greedy sometimes in trading you have to take a little profit and move or wait for dump before buying again but if you think you want a coin to do 2x,3x,4x before selling which is bad seriously is really good you aim high and sometimes is just better you sell with the little profit you are having and wait for retrace to avoid losing your money completely.

I think a lot of us are guilty with that kind of thinking at one point in our trading. That's human nature, we want to earn more as much as we can. But as we traverse this trading life, we learn more and we realize that chasing those high profits is not always worth to take. Because a lot of these projects turned out to be crap, you can't even get your initial investments back. It is better to keep valuable projects with active use case in the market. But for those pump and dump coins, better get rid of them while you can.

Mistakes in trading is normal and honestly, its hard to control your emotion at first but with your experience in trading, you can also adopt and know how to control such emotions, being greedy should depend on the situation. As a trader, we have to setup our own standards and discipline, we can’t copy anyone’s strategy because that might not work to us. Trading is very risky, many are losing because of their own behavior.

[sheenshane]

The number one reason behind every trader picking interest in trading is to make profit, if you aren't making profit then it'll preferably to stop trading and try understanding why you aren't making profit but when a supposed trader refused to stop to reexamine themselves but continue in losses with the hopes of things turning around automatically, they get it all wrong.

There's something wrong that you need to figure out because trading isn't all about making a profit, there are sometimes you also have experience losses.  But I think if you aren't getting a profit and decided to stop isn't a good idea for me, you have been there and learn from those mistakes that you had.  Quitting is not a solution instead, encourage and motivate yourself to learn more on technical and even in fundamental analysis which gives you more chances and potential of making a profit.

Bear in mind always that trading isn't an easy way of making a profit, learn your mistake and don't let it that will happen again, losses are normal in trading most especially if you're a beginner.  It requires a lot of work, study, and research.

[taufik123]

-snip-
If he can pass his daily lesson and try to trade, sooner or later, he will become a pro trader, even without he realizes that he already achieve that.

Continue to practice how well to do the analysis every day. Try trading with various indicators and learn each indicator's function. it will make trading skills more developed. To become a pro trader is not just a matter of time, but how much you intend to keep learning and improving your skills. Professional traders are not just technical or fundamental science but psychology will be very influential in making decisions.

[traderethereum]

-snip-
If he can pass his daily lesson and try to trade, sooner or later, he will become a pro trader, even without he realizes that he already achieve that.

Continue to practice how well to do the analysis every day. Try trading with various indicators and learn each indicator's function. it will make trading skills more developed. To become a pro trader is not just a matter of time, but how much you intend to keep learning and improving your skills. Professional traders are not just technical or fundamental science but psychology will be very influential in making decisions.

It is better to learn one indicator until you understand how it works and familiar with using that indicator.
After that, you can try to learn the other indicator and I admitted that the more indicator that we can learn and master it, we will be able to analyze better than the other traders.
Although it is hard to become a pro trader, if you learn hard about trading and try to practice what you learn, someday, you will become a pro trader.
You do not need to afraid if you can not make a profit because that is just a temporary delay. After all, you are still learning.

[Kittygalore]

Most traders what always kill them is greedy sometimes in trading you have to take a little profit and move or wait for dump before buying again but if you think you want a coin to do 2x,3x,4x before selling which is bad seriously is really good you aim high and sometimes is just better you sell with the little profit you are having and wait for retrace to avoid losing your money completely.

That's because these traders want to really maximize their profits not knowing that they are currently reaching the peak and by the time that they know that the price are falling it's too late for them. I agree that greed is the reason for the downfall of many traders.

[Lakai01]

-snip-
Today you have smooth DEX like Uni or Pancake, so beautiful, so easy to use, but then you look at the percentage of scam tokens. Broken whitepapers and utterly trash communities who say nothing but share memes in channels.

When you see all this you feel like regulated CEX is safer for your money.

Exactly, that's what I meant. Until recently, virtually every token listed on a DEX had at least an x10 for a short time (usually a few hours) and then immediately collapsed. I don't even want to know how many newbies here lost their precious BTC chasing the big money.

Something like that doesn't happen on CEX or only with much more effort, so the chance of being scammed on a CEX is much lower. Launchpads, on the other hand, only offer by a few CEXs, and of course they don't list every (promising) coin right away.

[RealMalatesta]

Emotion is the biggest opponent in trading because it can impact your decision making and prevent you from focusing on your strategy; overcoming it would be beneficial. The other is to set a goal, such as gaining a certain amount. What I learned from my past trading experience is to create a target profit and a stop loss, both of which are quite beneficial. If you are greedy, you will see your account burn and you will lose a lot of money. Though they usually claim that emotion drives us to make decisions that we should not, we must learn to control our emotions.

Emotions are very horrible if you do not know what you are doing as well, it becomes suddenly something that means you should even be trading at all if you have both emotions too much and at the same time do not know how to trade then the first thing you should do is to calm yourself if you can stop your emotions when trading then you can learn how to trade later on, but if you can't keep your emotions in control no matter how much you learn about trading you will not be able to trade properly and that is the biggest reason why you should calm down first.

However the trading experience thing is a reality, unless you are a person who have no idea what they are doing, any experienced trader would be able to just study what their mistake was and learn and usually do not make the same mistake again, or at the very least do not make it too commonly and that is the important thing.

[Shenzou]

Probably the  biggest mistake that people make when trading, is not learning from their mistakes, i personally have struggled a lot with this, i go in i put a trade i lose it reflect on why i made it and why i lost, i say i won't make that mistake again in the future but i always keep on doing it, sure we can blame it on the uncertainty and the unpredictable crypto market, but honestly we are our own demise and if we are able to conquer ourselves and control our actions, we will have more success.

[2double0]

For the exchange point, I see many new traders are opting for Decentralised exchanges where they don't need to store their funds, but trade and keep the money in their wallet. A trader also does it all wrong if he doesn't know the trading fee structure, takes a bunch of trades and gives too much to the exchange in fees. Losing more on fees is also a loss which should be cut, for which only confident trades must be performed.

[Cherylstar86]

When we're in greed mindset we failed in trading, it's because we don't know how to handle our decision making. Many opportunities is give to us but we didn't grab it during the time our coins prospered in the marketplace. But, it's not too late to recover all those wasted profit; move forward and don't let fear dominate you in trading. Be smart and decisive to face challenges.

[Lanatsa]

-snip-
If he can pass his daily lesson and try to trade, sooner or later, he will become a pro trader, even without he realizes that he already achieve that.

Continue to practice how well to do the analysis every day. Try trading with various indicators and learn each indicator's function. it will make trading skills more developed. To become a pro trader is not just a matter of time, but how much you intend to keep learning and improving your skills. Professional traders are not just technical or fundamental science but psychology will be very influential in making decisions.

Trading is a continuous learning and you shouldn't stop until you do make yourself sustainable because it would really be dealing with lots of trials and errors when doing trading.

There's no such thing about perfect trades because its impossible for someone not to experience losses. Don't let yourself be greedy and stick to your plan which is to make profits,

even though you do fail but doesn't mean that you should stop.Trading isn't for weak hearts and if you do plan to invest then you should be at least prepared.

[TheGreatPython]

-snip-
If he can pass his daily lesson and try to trade, sooner or later, he will become a pro trader, even without he realizes that he already achieve that.

Continue to practice how well to do the analysis every day. Try trading with various indicators and learn each indicator's function. it will make trading skills more developed. To become a pro trader is not just a matter of time, but how much you intend to keep learning and improving your skills. Professional traders are not just technical or fundamental science but psychology will be very influential in making decisions.

Actually, the psychological aspect is neglected once you have good understanding of technical and fundamental analysis and that is because, once you have worked on learning how to analyze projects fundamentally you will understand how it will do in the future while learning technical analysis means you cannot lose in the market ups and downs so basically there is no room for error or emotions in the trading.

As traders, our primary focus must be learning rather than earning because once we have mastered the art of analyzing projects and coins from every angle, this whole crypto industry looks very sorted while if you take decisions emotionally you will always have a hard time earning and slowly lose interest.

[Kimonoe]

When we're in greed mindset we failed in trading, it's because we don't know how to handle our decision making. Many opportunities is give to us but we didn't grab it during the time our coins prospered in the marketplace. But, it's not too late to recover all those wasted profit; move forward and don't let fear dominate you in trading. Be smart and decisive to face challenges.

Greedy people tend to put their egos forward, where they seem to want prices to continue to rise. they do not want to learn and understand the market, and tend to push themselves. and what happens next they will regret their decision, because they did not leave the market when the price was at its peak. until finally panic sell that occurs because they are frustrated

[john_nautica]

When we're in greed mindset we failed in trading, it's because we don't know how to handle our decision making. Many opportunities is give to us but we didn't grab it during the time our coins prospered in the marketplace. But, it's not too late to recover all those wasted profit; move forward and don't let fear dominate you in trading. Be smart and decisive to face challenges.

Greedy people tend to put their egos forward, where they seem to want prices to continue to rise. they do not want to learn and understand the market, and tend to push themselves. and what happens next they will regret their decision, because they did not leave the market when the price was at its peak. until finally panic sell that occurs because they are frustrated

I think that we can all agree that greed is not a good thing in general. Greed is a threat; it becomes a hindrance to the direction and on the way to success of a trader. Because of it, bad and impulsive decisions are made, which not only distort profit but the prices in the market as well. Whatever emotion that traders will let take into their heads, such as fear, anxiety or greed, this could lead to irrational and inconsistent market decisions which could sabotage one’s own success.

[geegaw]

Probably the  biggest mistake that people make when trading, is not learning from their mistakes, i personally have struggled a lot with this, i go in i put a trade i lose it reflect on why i made it and why i lost, i say i won't make that mistake again in the future but i always keep on doing it, sure we can blame it on the uncertainty and the unpredictable crypto market, but honestly we are our own demise and if we are able to conquer ourselves and control our actions, we will have more success.

The justification they give is that they are very busy chasing profits on the trading path, their time is spent researching into many altcoins every day, a few failures are just a few small stones blocking their way and not worth them to spend a lot of time and analyze every bit, they just need to take a detour to get to the finish line. The direction is appreciated and the second mistake has no similar signs but the core fix is still in the first mistake, this is a chain of linked consequences, just need to finish testing in the early stage, the later stage probably won't continue to grow so bad

[lixer]

Probably the  biggest mistake that people make when trading, is not learning from their mistakes, i personally have struggled a lot with this, i go in i put a trade i lose it reflect on why i made it and why i lost, i say i won't make that mistake again in the future but i always keep on doing it, sure we can blame it on the uncertainty and the unpredictable crypto market, but honestly we are our own demise and if we are able to conquer ourselves and control our actions, we will have more success.

You are more into gambling than trading then because a trader would never make the same mistake more than twice. I know it's not easy to control your emotions and most of the time emotions lead to losses. I have seen people strongly saying that they will buy more BTC when the market goes down but when it actually goes down, they panic and instead of buying more they even end up selling the coins they have.

At the same time, the market is volatile and it has only been 5-6 years of crypto trading. I know BTC came into existence long back but serious and high scale trading has been only happening for 5-6 years and hence no one has the data to read and understand the market as compared to the stocks market where data is available for much longer.

[DarkDays]

.. Traders aren't jokers therefore before you decide to become one, you have to know or have the following characteristics to help guide you. You have to be very smart, the market isn't a friend to fools.

Exactly.
Some mistakes done right now is about trading only by following other people and not doing our own research and analysis.

You can say that again... The amount of people I've seen storming into crypto because they heard a friend of a friend managed to get good profit is very large, only for them to enter not knowing what they're doing, buying meme coins and hoping to get rich over night.

Little did they know that making money isn't as easy as it may look, knowledge determines every step of trading, and you can't argue with good strategies and good timing. If you get the basis right, you can reduce risk of loss down to a bare minimum.

[seleme]

The constant up-down profit curve is the animation of the fear and greed index, the more we want the more risks we take. Like in the stock market, you can make unlimited money by guessing the right stock and having a proper money management but in the case of volatile crypto markets, the same method is not correct for short-term traders. The market can stay flat for a few years and it can go up 500% in a day. Trying to find bottom and tops is the main reason why the majority of traders miss the train or forget to liquidate before it is too late.

[batang_bitcoin]

Greedy people tend to put their egos forward, where they seem to want prices to continue to rise. they do not want to learn and understand the market, and tend to push themselves. and what happens next they will regret their decision, because they did not leave the market when the price was at its peak. until finally panic sell that occurs because they are frustrated

That's what I've felt before that the prices will continue to rise and trend won't just lie low. But that's a newbies perspective and little experiences will make us learn that greedy shouldn't be your attitude towards the volatile market of cryptocurrencies. The decisions that you'll do will matter from your stand as you enter trading because it's not an easy job to make the most for each trade that you do.

[nurilham]

Like I earlier said, traders should be self discipline, when a trader begin to become too greedy he or she is doing it all wrong.

Greedy really makes everything be worse. A trader shouldn't have it, avoid greedy as possible as we can. You are right if it leads to many mistakes in trading, I have experienced it many times. Actually, not only discipline, but a trader also needs to always update information about crypto. Market trends can change quickly, so a trader must monitor the current news or issues continously.

[Benefactor]

Clearly this is the reason we have dealers, staff with astonishing specialized and principal examination information. Without them institutional speculation firms could never develop into billion dollar ventures. I think in case you're not able to utilize and work out the framework of a crypto speculation, you are simply betting and would have a great time wagering on games.

[LimLims]

If you face something wrong in trading here in crypto space, that means there is also something wrong with your method or strategy,
just simple as that. And besides, whether we lose or win learnings or lesson is always there for us to gain it. However, as an individual traders
we should expect that things here actually.

This is somehow true.
But as always said , you can’t everytime blame the method as wrong
Sometimes its us who should be made responsible for our mistakes.
The biggest reason is always claimed to be greed for which all goes wrong in trading .
If we can fix this then sure our losses will be somehow be reduced.

[imstillthebest]

When a traders begin to get afraid of losses then they're doing it all wrong

nothing wrong with that i guess?  
who would love to loss when in the first place we are here to double our money and if your scared to loose you will do everything to avoid it.  
it only becomes wrong when your afraid to loose and you refuse to try . also not all of us get it wrong but many traders have already learned from their mistakes.

[Quidat]

When a traders begin to get afraid of losses then they're doing it all wrong

nothing wrong with that i guess?  
who would love to loss when in the first place we are here to double our money and if your scared to loose you will do everything to avoid it.  
it only becomes wrong when your afraid to loose and you refuse to try . also not all of us get it wrong but many traders have already learned from their mistakes.

When you are dealing with investment then you should really be wary about the risk as it should always be.When you are really that afraid on taking risk or losing money then this investment isnt really for you.
This market isnt really for the weak hearts specially this market is really way too unpredictable and really very unpredictable which means it would really be at disadvantage on someones really very impulsive
in terms into their emotion.This isnt a fly by night career which it would really be taking up lots of years before you could really have a good grasp to it.Gaining experience and does really
require lots of trial and error where you would able to create your own way and methods on sustaining yourself next.

[Hypnosis00]

If you face something wrong in trading here in crypto space, that means there is also something wrong with your method or strategy,
just simple as that. And besides, whether we lose or win learnings or lesson is always there for us to gain it. However, as an individual traders
we should expect that things here actually.

Basically, what we've got is the outcome of what we did in the past. If we have done wrong, the result will absolutely not be acceptable.

Similarly, if we don't have knowledge and skill in trading, therefore, we can also expect that the result is not really what we wanted. I mean, losses are the most possible we've got. That is why we should invest time and show our effort that we want to learn trading before taking this job otherwise, you are just making your mind out of it and regrets.

[tvplus006]

Like I earlier said, traders should be self discipline, when a trader begin to become too greedy he or she is doing it all wrong.

Many well-known traders make mistakes, neglecting their own created trading strategies, which necessarily leads to loss of money. Therefore, it is not surprising that most traders eventually lose their money without even knowing about trading strategies. And greed, which prevails over everything, leads to such sad consequences.

[sherenikaw]

To become a trader is not an easy thing, but it can be learned if we want. The results that will be obtained depend on what we do. If we give in to the situation then it will further worsen the situation and our assets. That is why many traders lose their assets, one of which is because they are in a hurry to make decisions. A trader needs to think carefully before selling or buying a coin because it will have an impact on his assets. Experience and willingness to continue to learn is an important key in trading. Use the experience as an opportunity to learn better in the future so you don't lose again. That is why traders must be consistent and patient.

[South Park]

-snip-
If he can pass his daily lesson and try to trade, sooner or later, he will become a pro trader, even without he realizes that he already achieve that.

Continue to practice how well to do the analysis every day. Try trading with various indicators and learn each indicator's function. it will make trading skills more developed. To become a pro trader is not just a matter of time, but how much you intend to keep learning and improving your skills. Professional traders are not just technical or fundamental science but psychology will be very influential in making decisions.

It is better to learn one indicator until you understand how it works and familiar with using that indicator.
After that, you can try to learn the other indicator and I admitted that the more indicator that we can learn and master it, we will be able to analyze better than the other traders.
Although it is hard to become a pro trader, if you learn hard about trading and try to practice what you learn, someday, you will become a pro trader.
You do not need to afraid if you can not make a profit because that is just a temporary delay. After all, you are still learning.

There are many cases of traders using many indicators on their charts but I think this is a mistake, after all it is difficult to see what is going on with the price which is by the way what we care about, also a strategy with too many indicators is probably too specific to a certain market condition and as such it is going to be ineffective when those precise market conditions are not in place, so it is better to use a strategy with less indicators that can work under more circumstances and that can make you more money that way,

[Yatsan]

For you to be able to be a good trader, you must possess the quality and traits that a trader must have. You must be knowledgeable of course because trading is a serious and challenging work for you are battling and dealing with a highly volatile market wherein intuitions and gut feelings are not the proper way on how you will assess the situation. You must take into consideration the needed data to understand the situation and how you can be able to handle it into your favor at least. Yes, it is difficult to make odds be favorable to you because we are dealing with a volatile market. But since we are aiming to produce or make profit with trading, we must be knowledgeable enough on how to turn things into what makes it profitable for us.

[Karish2return]

Simple the main reason is greed, when we all get out of it, then only trading will be not that much difficult for us. And secondly in trading patience is very necessary, if we don't have patience during trading then it will give us more loss even. These two are are main reason when trading gone wrong according to my opinion.

[tygeade]

I do agree with the points here but one thing people are forgetting is the fact that there are some crashes in crypto that nobody can see beforehand, and if you are working without a stop loss then you are going to end up with a big loss in the end without being able to do anything about it, unrealized loss of course but still loss.

This is why there is an emotional stuff that comes into play, if you are not sure about what you are doing because you are afraid that you will lose money even more, then you end up selling, not thinking that even if it goes down more, it doesn't change the fact that it will eventually go up even more. This is why I honestly believe "not selling" is enough of a great strategy and you do not need anything else, it is simply just about waiting long enough time but emotions do stop a lot of people from being able to do that.

[tvplus006]

Simple the main reason is greed, when we all get out of it, then only trading will be not that much difficult for us. And secondly in trading patience is very necessary, if we don't have patience during trading then it will give us more loss even. These two are are main reason when trading gone wrong according to my opinion.

Yes, greed and the desire to earn big money quickly are among the main reasons for losing money. But it is not limited to this only. You may not be greedy, but this does not guarantee that you will open orders in the right direction of the market movement. This means that you at least need knowledge to understand the cryptocurrency market.

[jossiel]

Simple the main reason is greed, when we all get out of it, then only trading will be not that much difficult for us. And secondly in trading patience is very necessary, if we don't have patience during trading then it will give us more loss even. These two are are main reason when trading gone wrong according to my opinion.

Without patience, you can't be a trader or a holder.

Both requires it and if you don't like waiting game, you shouldn't buy any crypto to hold or don't do trading at all because you'll only feel that it's taking forever before you make money.

In both of it, those that you've mentioned are true.

[South Park]

Simple the main reason is greed, when we all get out of it, then only trading will be not that much difficult for us. And secondly in trading patience is very necessary, if we don't have patience during trading then it will give us more loss even. These two are are main reason when trading gone wrong according to my opinion.

Greed produces false expectations and with false expectations traders cannot avoid making mistakes, for example how many people invest in some coins thinking they are going to earn 100x what they invested and they are in fact earning money but not 100x and they refuse to sell only for the price of the coin in which they invested to begin to go down, and then they still refuse to sell and finally are forced to sell for a loss in a trade in which they were earning money.

[awik p]

Simple the main reason is greed, when we all get out of it, then only trading will be not that much difficult for us. And secondly in trading patience is very necessary, if we don't have patience during trading then it will give us more loss even. These two are are main reason when trading gone wrong according to my opinion.

Greed produces false expectations and with false expectations traders cannot avoid making mistakes, for example how many people invest in some coins thinking they are going to earn 100x what they invested and they are in fact earning money but not 100x and they refuse to sell only for the price of the coin in which they invested to begin to go down, and then they still refuse to sell and finally are forced to sell for a loss in a trade in which they were earning money.

right, there are many incidents like this when we listen to people's stories. Greed will result in disaster and affect our mentality. we should be vigilant when the price forms a new ath, because at any time the price can dump at any time. By planning a logical target I think I can avoid that incident

[Lakai01]

-snip-
we should be vigilant when the price forms a new ath, because at any time the price can dump at any time. By planning a logical target I think I can avoid that incident

You can't say that. Take a look at the bitcoin's performance at the beginning of the year. The BTC has made one ATH after another. If you had sold at 22k (the ATH from 2018), for example, you would have completely missed the run to 60k and would still be heavily in the red.

In my opinion, a reached ATH is absolutely no indicator, neither for buying nor for selling. Rather, it depends on the general mood in the market at the time of reaching the ATH. If, for example, there is extreme greed, then this definitely indicates that saturation will soon be reached and the market could collapse again.

[South Park]

-snip-
we should be vigilant when the price forms a new ath, because at any time the price can dump at any time. By planning a logical target I think I can avoid that incident

You can't say that. Take a look at the bitcoin's performance at the beginning of the year. The BTC has made one ATH after another. If you had sold at 22k (the ATH from 2018), for example, you would have completely missed the run to 60k and would still be heavily in the red.

In my opinion, a reached ATH is absolutely no indicator, neither for buying nor for selling. Rather, it depends on the general mood in the market at the time of reaching the ATH. If, for example, there is extreme greed, then this definitely indicates that saturation will soon be reached and the market could collapse again.

This is why a trading strategy is needed, many people are trading the markets not really knowing what they are doing and are relying on their gut feeling to try to guess what the market is going to do, if instead you use a trading strategy that you back tested and it is telling you to get out then even if the market turns its direction once again and begins to make new all time highs at some point your strategy will tell you to get in the market again and you will still obtain profits from the sustained bull market.

[Quidat]

Simple the main reason is greed, when we all get out of it, then only trading will be not that much difficult for us. And secondly in trading patience is very necessary, if we don't have patience during trading then it will give us more loss even. These two are are main reason when trading gone wrong according to my opinion.

Greed produces false expectations and with false expectations traders cannot avoid making mistakes, for example how many people invest in some coins thinking they are going to earn 100x what they invested and they are in fact earning money but not 100x and they refuse to sell only for the price of the coin in which they invested to begin to go down, and then they still refuse to sell and finally are forced to sell for a loss in a trade in which they were earning money.

right, there are many incidents like this when we listen to people's stories. Greed will result in disaster and affect our mentality. we should be vigilant when the price forms a new ath, because at any time the price can dump at any time. By planning a logical target I think I can avoid that incident

Secure profit while you still can and dont really make out as a habit when you do listen on what are the things that you could able to hear out on someone or from other groups.
Stick on what you do have analyzed but it isnt bad to make out some integration of others ideas as well as long you do seem that it is relevant to your own analysis too.
Trading is never been simple because it wont really be giving out any assurances no matter how good your analysis is.TA's is always giving precise predictions
but at least we do rely into something rather than on making blind trades.

[Karish2return]

The common way of getting losses for most of the trader is greed, when they try to earn more and more even they are also in profit, it kills most of the opportunities of the trader and if they were in profit they will further go into the loss. The main reason of getting benefit is that you have to take profit and run.

[Ridi]

Reasons why they get it all wrong when trading I think lack of knowledge, greedy plans, panic, impatience these are few main points which makes a wrong decision. 🙏

[Sweetbtc]

Like everyone is asking about the same question, that they should take a profit only, they don't have to think that whether they made a small profit or it is big. But it is a good habit too. On the other side when someone was really in greed and he thoughts that he can earn more and more in order to get more profit. Then it will be too risky which can give the man loss too.

[LUCKMCFLY]

Simple the main reason is greed, when we all get out of it, then only trading will be not that much difficult for us. And secondly in trading patience is very necessary, if we don't have patience during trading then it will give us more loss even. These two are are main reason when trading gone wrong according to my opinion.

Yes, greed and the desire to earn big money quickly are among the main reasons for losing money. But it is not limited to this only. You may not be greedy, but this does not guarantee that you will open orders in the right direction of the market movement. This means that you at least need knowledge to understand the cryptocurrency market.

You are right, greed is one of the most common reasons for losing in the trade, you also have to take into account a reason that very few say but that is one of those that most affect traders, especially newbies, and is that they do not know how to use the tools that they have in the exchanges, many who are starting to operate do not know all the tools well, and because they do not know them they lose much more, some do not know how to use the Stop Loss, nor the "Take Profit" anymore Sometimes for not knowing how to operate within the Exchange, you lose a lot in commissions such as placing an order, taking profit, making a withdrawal, there are many details that few speak.

[chanler]

a trader must know very well what to do because every step taken will affect the assets owned. everything said is true and it can be concluded that being a good trader is not easy, it takes patience and vigilance in it. but if we can do that well then we will benefit. so it all depends on our attitude, because the assets we have are handled by us. don't forget to learn to observe and analyze the market well so that you can determine the right time to sell or buy crypto.

[TimeTeller]

a trader must know very well what to do because every step taken will affect the assets owned. everything said is true and it can be concluded that being a good trader is not easy, it takes patience and vigilance in it. but if we can do that well then we will benefit. so it all depends on our attitude, because the assets we have are handled by us. don't forget to learn to observe and analyze the market well so that you can determine the right time to sell or buy crypto.

Most traders are driven by their emotions that's why they incur losses if not handled properly.
And when it comes to crypto trading, most beginners are after for quick profit that they ended up being screwed.
A trader should know his plans before he even started trading, so in case he can always check again about his goals.
Rather than start without any direction at all, because that's when he can easily panic for what he may encounter during the actual trading.

[jossiel]

Reasons why they get it all wrong when trading I think lack of knowledge, greedy plans, panic, impatience these are few main points which makes a wrong decision. 🙏

All of those are true.

I did most of those before and still some of it are still being done like being impatient and panicking. But it's not worse than before because I can manage to get close to my plans and follow it smoothly.

[zanezane]

The reason that some traders especially those who aspire to be a good one gets wrong notion about trading is because most of them are mislead by the people who introduced them to crypto trading by hyping things for them and created an illusion that they're going to make a lot of money.

[Wawa2013]

Reasons why they get it all wrong when trading I think lack of knowledge, greedy plans, panic, impatience these are few main points which makes a wrong decision. 🙏

All of those are true.

I did most of those before and still some of it are still being done like being impatient and panicking. But it's not worse than before because I can manage to get close to my plans and follow it smoothly.

Impatience and panic are things that everyone must have done, and indeed these two things make us finally make the wrong decisions and
experience losses. That's why the importance of controlling emotions and always planning before trading is something that can prevent us
from losing. Because with controlled emotions and careful planning, we should be more patient and not panic when trading. I admit that everyone
needs a different process, so they don't panic and can be more patient, so I understand if occasionally you still do that. If it's true you can now
experience a change in a good direction, by being able to follow the plan you have made, it is a good achievement.

[Hypnosis00]

The reason that some traders especially those who aspire to be a good one gets wrong notion about trading is because most of them are mislead by the people who introduced them to crypto trading by hyping things for them and created an illusion that they're going to make a lot of money.

Then, from now on, newbies must have to stop doing but instead have their own research. They got fooled because they are too innocent with the market situation and for their mind thinking for easy money, quick returns and etc...And they forgot how scammers take advantage of this situation. I'd learn trading through watching online videos, reading books, and some advice from a friend, not from strangers.

If we are keen enough to secure our funds, then we should not tor rely on others so at the end of the day, we have nothing to blame for our mistakes but just ourselves.

[BitTraderCute]

Most traders are driven by their emotions that's why they incur losses if not handled properly.
And when it comes to crypto trading, most beginners are after for quick profit that they ended up being screwed.
A trader should know his plans before he even started trading, so in case he can always check again about his goals.
Rather than start without any direction at all, because that's when he can easily panic for what he may encounter during the actual trading.

emotion be uncontrolled thing that could destroy our trading and unfortunately less traders could handle their emotion. easy to be panic, stress when facing bearish market make them forget their goals involved in this market.

The reason that some traders especially those who aspire to be a good one gets wrong notion about trading is because most of them are mislead by the people who introduced them to crypto trading by hyping things for them and created an illusion that they're going to make a lot of money.

they only imagine about the positive side only ad forget about the worst scenarion that may happen to them. thinking could be rich man only in single be commoin imagination beginer.

[Smitty Werben Man Jensen]

The reason that some traders especially those who aspire to be a good one gets wrong notion about trading is because most of them are mislead by the people who introduced them to crypto trading by hyping things for them and created an illusion that they're going to make a lot of money.

Investing or trading in cryptocurrencies can indeed make a lot of money,
but making profit in cryptocurrency is not something easy to do it requires skill,
besides that the risk is also high so when we make the slightest mistake it will make us lose money

[bamb]

A lots of people are drawn to Cryptocurrency and  bitcoin because someone somewhere told them how they can make quick money, the misrepresentation of Cryptocurrency is further fuel by ethereum smart contract platform,  it is easy for anyone to create a token with bogus claims of value!  Making money take time.  Just like it is in offline work and business, you must be deliberate,  discipline and know your onions as regards trading and investing in Cryptocurrency!

[carlisle1]

The reason that some traders especially those who aspire to be a good one gets wrong notion about trading is because most of them are mislead by the people who introduced them to crypto trading by hyping things for them and created an illusion that they're going to make a lot of money.

Investing or trading in cryptocurrencies can indeed make a lot of money,
but making profit in cryptocurrency is not something easy to do it requires skill,
besides that the risk is also high so when we make the slightest mistake it will make us lose money

if you understand the concept and you are well aware of how the volatility works, the chance to earn is very possible.

Misinterpretation is the number one killer of those who losses their money from this business, thinking that everything is easy
as it is, thinking that they have the same fate from those people who they heard about trading.

If you'll not go to focus, the chance to lose is also high. The risk is manageable if you know what you are doing.
buy and sell always depends on how you perform your trades.

[jossiel]

Reasons why they get it all wrong when trading I think lack of knowledge, greedy plans, panic, impatience these are few main points which makes a wrong decision. 🙏

All of those are true.

I did most of those before and still some of it are still being done like being impatient and panicking. But it's not worse than before because I can manage to get close to my plans and follow it smoothly.

Impatience and panic are things that everyone must have done, and indeed these two things make us finally make the wrong decisions and
experience losses. That's why the importance of controlling emotions and always planning before trading is something that can prevent us
from losing. Because with controlled emotions and careful planning, we should be more patient and not panic when trading. I admit that everyone
needs a different process, so they don't panic and can be more patient, so I understand if occasionally you still do that. If it's true you can now
experience a change in a good direction, by being able to follow the plan you have made, it is a good achievement.

There is a process and time for it.

But when someone is still yet to advance and adjust with those factors and still keep on doing that mistake, the problem is on him and there's no way to change that by others but only him.

[TelolettOm]

The most reasons why traders often lose are because being panic when trading.
Many traders are panic when the price suddenly drops even with only a small percentage and then they are selling it all because they are afraid that the price will drop again and again. While it is only a lite bit drop and will be irising again sometime later.
And then, they are also too panic to buy the price when they see the price of a coin is rising up or pumping so highly, so they buy at the top price, and then the price drops drastically.
And about discipline, yes it also becomes a reason because, without any good discipline, traders will not be consistent enough

[Sasdy]

Indeed, because of the panic and fuss, we make a lot of mistakes, which is why I first used a demo account, Amarkets, where I could learn to control myself so that I would not have problems on a real account.

[Lily Garver]

It is too difficult not to make mistakes, because the market is changing rapidly, there are many fake news, there are many scaring institutions, and many big whales who seduce you, it is difficult to find clear and correct in this space. I think we still have to learn" What not to do", then learn "what to do".

[carrigan]

There are many reasons that can be your mistake when trading. Expectations that are too big with profits can also be a chasm for you, this is because you don't see it in terms of losses. Besides that, the lack of emotional control is also the reason you experience mistakes, many from beginner traders to even professionals who sometimes lack patience so they fail. Finally, you also have to really understand cryptocurrency and always learn from the mistakes you have made.

[doomloop]

Most often greed happens to be the killer for most traders. Some traders have good entry point , nice analysis and during the course of a trade happens to make good profit but would deliberately refuse to take profit due to greedy mind set. This emotional states would cause the trader to loose even the little profit made during this cause. I believe self dicipline as you rightly said @op is all that is needed to succeed as a trader

As traders, self discipline applies to everything we do. If you are not self disciplined then you’re lacking control and you end up making mistakes that you’re not going to like. That’s why you see a lot of traders who end up being frustrated and then they end up quitting as well.

When you’re a threat that you shouldn’t be greedy, the next thing is that you should also be ready to learn new things at all times: try to learn new things always and keep refreshing your memory. The market changes, every time we keep seeing new things coming into the market,  so you have to be able to keep up with those changes and know what’s trending. Finally is good to avoid greed.