Few Tips I learnt from trading that blew my account.

[AmoreJaz]

[5]. Don't be greedy:The master of it all.

Well, a certain amount of greed made you start trading in the first place
So I'd better say: don't be overly greedy and stick to the plan. If you planned to cash in at a certain point, stick to that and plan the next step accordingly, because another opportunity should come.

very true! we all want to earn something the reason why a lot are getting involve with trading, for the hope that they will get nice profits. but being overly greedy will be the reason of your mistakes or possible downfall. not cashing out while you are still positive, still waiting "to this moon" price, you will find out soon enough that the right time has passed already. so yes, being greedy is good at times but you should know your limits.

[LeafMandiri]

~snip~

[5]. Don't be greedy:The master of it all.
Greediness can reap you off all your profits already gained from the market when you're trying to gain it all. Be comtempted with the profit you've got and have plans for profits taking.
This is one the biggest challenge I faced during my early time of trading and even now but it's reduced and controled.

Don't be greedy is one the most crucial in my mind because when I go greedy I can lose it all in a few moments.

[Rengga Jati]

[3].Don't predict the market ,react to current market situation.
This is what that cost me blew a lot of my trading capital. Always wait for trend direction and follow the trend , As they say... trend is your friend until it's finished.

This is little bit difficult to practice, moreover if we are newbies. I myself am still confused about the common market situation to predict or analyize. Moreover if  a newbie, commonly they still can't do analysis on the indicator, so only doing it by the prediction. This is that makes dangerous because predicting market with only speculation will refer to gambling, not trading.

[5]. Don't be greedy:The master of it all.

People are full of greediness and this becomes one of the weaknesses of people moreover in trading. Greedy of willing to get very high profits or even greedy to make high profits from hype coins, but in fact they know nothing about this. This is completely ad situation for newbies who are greedy from the beinning.

[sheenshane]

~snip~

[5]. Don't be greedy:The master of it all.
Greediness can reap you off all your profits already gained from the market when you're trying to gain it all. Be contented with the profit you've got and have plans for profits taking.
This is one the biggest challenge I faced during my early time of trading and even now but it's reduced and controled.

Don't be greedy is one the most crucial in my mind because when I go greedy I can lose it all in a few moments.

It's indeed!
That's why we shouldn't chase our losses and control our greediness.  And maybe you forgot to add this in OP, it should also have a stop loss so that you can minimize your losses once there is.

I know it's very easy to say these things but for sure it's hard to do this especially when you forgot your goal.  Trading it's always been crucial, we should have these skills, knowledge plus instinct.
It's all about how we can manage ourselves in trading, there's no shortcut, everything should gain with pain.

[Franctoshi]

~snip~

Don't be greedy is one the most crucial in my mind because when I go greedy I can lose it all in a few moments.

It's indeed!
That's why we shouldn't chase our losses and control our greediness.  And maybe you forgot to add this in OP, it should also have a stop loss so that you can minimize your losses once there is.



Agree with you, but on the stop lose side I had a terrible experience with stop lose, during my early stage of trading I always got stopped out base on what the market makers does during stop hunt , it's so anoying sometimes seeing your trade being stoped out and the market still go same direction, I stopped using stop lose at a particular time until I realize and changed my trading strategy by giving the market time to go for stop hunt first before now taking a trade.

[Franctoshi]

What happens is that as Warren Buffett once famously answered to a question of Jeff Bezos about why was not everyone copying him: ‘Nobody wants to get rich slowly’.

The vast majority of those that come to the markets do so with the intention of becoming rich quickly, some are thinking to achieve this in a few years while the most desperate for profits are thinking in terms of months or even weeks, no one wants to take decades for this to become true, and yet this is the safest and the method that will most likely produce those results.

Wow! Makes total sense here, this is one the problems facing most traders, people really wants to become rich over night with just one or two traders while it's not so most successful traders I have met narrated to me that the most profitable way they grew their account was through gradual process.

[Dollar_Hunter]

[5]. Don't be greedy:The master of it all.

Well, a certain amount of greed made you start trading in the first place
So I'd better say: don't be overly greedy and stick to the plan. If you planned to cash in at a certain point, stick to that and plan the next step accordingly, because another opportunity should come.

very true! we all want to earn something the reason why a lot are getting involve with trading, for the hope that they will get nice profits. but being overly greedy will be the reason of your mistakes or possible downfall. not cashing out while you are still positive, still waiting "to this moon" price, you will find out soon enough that the right time has passed already. so yes, being greedy is good at times but you should know your limits.

It's very important not to be greedy when it comes to trading because I also believe it's not making a profit but a loss,
in some moments greed is still acceptable even so it must be based on research and analysis,
seems like every trader has been greedy and I think that is part of learning

[Joshapat]

[5]. Don't be greedy:The master of it all.
Greediness can reap you off all your profits already gained from the market when you're trying to gain it all. Be comtempted with the profit you've got and have plans for profits taking.
This is one the biggest challenge I faced during my early time of trading and even now but it's reduced and controled.

True, when we are too greedy for big profits then we will regret it, I often get when trading there is an opportunity to sell when the price skyrockets to thousands of percent, unfortunately I thought that the price would continue to rise but what happened was the opposite, it dropped more than 90% and continued drop so I lost the moment to profit.

[worle1bm]

Trading is not an ordinary job and you need to compile different factors in order to survive in this crypto trading field for long term.Some of your points are right that don't be greedy in this space because it could have negative circumstances which can leave you with nothing in your hands.You see some temporary profits in any coin and you make them but your greed grows more to earn but after the dump period you have nothing left with you so it's better to be satisfied with what you get.The other points are fine but also learn from your past mistakes that will give you more experience of the trading failures.

[sumant]

Spending time in trading with lower amounts will going to teach everything that we looking for. I always learn one thing is that when everyone is in panic and selling cryptocurreny then this is best time to take entry. Always buy at low. After buying at low never in hurry to sell because this is the time that determined your portfolio balance. Always sell in high to make maximum gains. This is just simple trick you can apply on your trading.

[Sled]

These are few challenges faced when I newly got into trading, which I think I should share so people who are new traders should know.
(...)

[3].Don't predict the market ,react to current market situation.
This is what that cost me blew a lot of my trading capital. Always wait for trend direction and follow the trend , As they say... trend is your friend until it's finished.

...

You have all stated right but this #3 gives me more attention.
Being a trader we should have to be
 * Calm and
 * Be patient

If we are being reactive to the market trend, tension may grow and even blow our minds started to think about selling. Instead of being too emotional, we have to act according to our plan as pro-traders do and wait for the right time to sell.

[MinMan]

Greed is definitely one of the worst in this one. I have seen a lot of people who trade and their trades turn into investments. If you are trading then you are trading, stop trying to make it into something bigger and better just because you got in at the right time. Sure, it is great that you bought it and right afterwards it started to skyrocket, but if you were aiming at trading it, then trade it.

If you start to turn your trading into long term investment then it could be fine as well but know that it is a long term investment and realize it will go down eventually as well. Some people forget about that part in the long run.

[el kaka22]

That's why we shouldn't chase our losses and control our greediness.  And maybe you forgot to add this in OP, it should also have a stop loss so that you can minimize your losses once there is.

I know it's very easy to say these things but for sure it's hard to do this especially when you forgot your goal.  Trading it's always been crucial, we should have these skills, knowledge plus instinct.
It's all about how we can manage ourselves in trading, there's no shortcut, everything should gain with pain.

What you should do as a trader is actually quite simple when you write it down. I am not even joking, if you could write down what you should do as a trader in order to earn a lot of money, we would all mock about how simple it is.

But, the reality is that we are talking about something that is a bit more than that, human mind and emotions gets the better of us whenever we are trying to do something decent and that results with us eventually getting worse and worse. This is why it looks so much easier when you put it into words and that is why we do not have too many people doing those easy things. It is easy on paper but when you try it, your mind and emotions play you a game.

[dunfida]

These are few challenges faced when I newly got into trading, which I think I should share so people who are new traders should know.
(...)

[3].Don't predict the market ,react to current market situation.
This is what that cost me blew a lot of my trading capital. Always wait for trend direction and follow the trend , As they say... trend is your friend until it's finished.

...

You have all stated right but this #3 gives me more attention.
Being a trader we should have to be
 * Calm and
 * Be patient

If we are being reactive to the market trend, tension may grow and even blow our minds started to think about selling. Instead of being too emotional, we have to act according to our plan as pro-traders do and wait for the right time to sell.

Add to that is to be open-minded.

Learn up something from the mistakes that you had committed and realize on how you do able to commit  those mistakes.Trying to find out on whats the reason so that on next encounter
you are fully aware on possible action that you would make.

If you do really make yourself confident then thats would surely commit or make more mistakes.Be mindful and setting out less risk with your capital.

[Untomabur]

[5]. Don't be greedy:The master of it all.
Greediness can reap you off all your profits already gained from the market when you're trying to gain it all. Be comtempted with the profit you've got and have plans for profits taking.
This is one the biggest challenge I faced during my early time of trading and even now but it's reduced and controled.

True, when we are too greedy for big profits then we will regret it, I often get when trading there is an opportunity to sell when the price skyrockets to thousands of percent, unfortunately I thought that the price would continue to rise but what happened was the opposite, it dropped more than 90% and continued drop so I lost the moment to profit.

Almost all traders I think have experienced something like that and maybe it is a good experience for the future not to be greedy,
even though at that time of course we felt sorry for not taking advantage of this moment to sell,
maybe if we do some research and analysis it will help to make a decision

[lienfaye]

[1].Don't Chase the market:

Thats right. If you missed an opportunity to either buy or sell, dont chase it and panic. Learn to wait for the opportunity to come again or else you might get rekt.

[5]. Don't be greedy:The master of it all.

Indeed. We have to learn to control ourselves, not only in trading but also in everything that we do that involves money. Its a human nature to be greedy sometimes but be wise to not regret your decision.

[Kelvinid]

[5]. Don't be greedy:The master of it all.

Indeed. We have to learn to control ourselves, not only in trading but also in everything that we do that involves money. Its a human nature to be greedy sometimes but be wise to not regret your decision.

Do you think it can be easy? Honestly, the hardest part and really challenging are how to control emotions. Many had tried it hard but many had also failed.

We can stop greediness in real life, I can tell I was greedy then but I know it wasn't at the highest level of greediness where we lose control of our emotions and have been in hard to make good decisions.

Earning more wasn't greediness at all, it was just the result of hard work and dedication. This is what I saw in myself.

[AicecreaME]

I agree about all of the things you've mentioned.

My favorites are "Don't chase the market" and "Don't be greedy", because I totally can relate to that. After you lose a trade, a good reentry is a must, if you lost your trade because you went short then it pumps, doesn't mean that the next trade you'll do is to buy, you need to make another TA for that, not just randomly making trades.

[jrrsparkles]

These are basics to become an professional trader who want to last long in the fast moving market, I can't say these things will blow oir account and create immense profits but definitely can save you from huge loss the main thing in that is greediness which is actually the reason why many traders goes bankrupt.

[xSkylarx]

[5]. Don't be greedy:The master of it all.

Indeed. We have to learn to control ourselves, not only in trading but also in everything that we do that involves money. Its a human nature to be greedy sometimes but be wise to not regret your decision.

Do you think it can be easy? Honestly, the hardest part and really challenging are how to control emotions. Many had tried it hard but many had also failed.

We can stop greediness in real life, I can tell I was greedy then but I know it wasn't at the highest level of greediness where we lose control of our emotions and have been in hard to make good decisions.

Earning more wasn't greediness at all, it was just the result of hard work and dedication. This is what I saw in myself.

Agreed, when you start winning trades, such as three in a row, greediness drugs kick in. always think that you'll always win the trade and that no one can stop you. It is really hard to control, but practice makes perfect. This word is really used by most traders, and when you are watching any tutorials, this is really what they say, because no matter how good your strategy is, if you can't control your emotions, you'll end up losing. But again it is easy to say but difficult to be done.