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.

[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.