Few Tips I learnt from trading that blew my account.

[uchegod-21]

(.....)
[1].Don't Chase the market:
There is always a next opportunity in the market,
If you miss this opportunity wait for next one.
(....)

I believe this is the common problem of traders that are starting, even me before I can admit this. The feeling of like you FOMOd and you insist on finding a good entry even you already know that it's already too late.

Not all the times you can open a trade, whether it's a short or long position.
Always remember that there are millions of opportunities ahead, capital preservation is the key.

There is always a next opportunity. This should be the watch word of a successful trader. Every candle stick is an opportunity. Every dip is an opportunity, every bull is an opportunity.
The FOMO is a very dangerous. It has made many coins dump on me and tidy I would have made x500 of the coins assuming they didn't dump on me. When you hit your daily target, exit and what for another opportunity. There must be another opportunity.

[Quidat]

(.....)
[1].Don't Chase the market:
There is always a next opportunity in the market,
If you miss this opportunity wait for next one.
(....)

I believe this is the common problem of traders that are starting, even me before I can admit this. The feeling of like you FOMOd and you insist on finding a good entry even you already know that it's already too late.

Not all the times you can open a trade, whether it's a short or long position.
Always remember that there are millions of opportunities ahead, capital preservation is the key.

There is always a next opportunity. This should be the watch word of a successful trader. Every candle stick is an opportunity. Every dip is an opportunity, every bull is an opportunity.
The FOMO is a very dangerous. It has made many coins dump on me and tidy I would have made x500 of the coins assuming they didn't dump on me. When you hit your daily target, exit and what for another opportunity. There must be another opportunity.

Secure profits while you can and dont ask for more or do wait for further pump because this is where mostly people do commit out mistakes on missing out those opportunity on making big profits
just because they do aim for something more which shouldnt really be done with this market where volatility is really high.You could earn big and also miss or lose big depending on your said position.
It could really totally blow up your account if you dont manage it well.All factors needed for trading should really be considered so that you would able to sustain yourself on long term durations.

[wxa7115]

There is always a next opportunity. This should be the watch word of a successful trader. Every candle stick is an opportunity. Every dip is an opportunity, every bull is an opportunity.
The FOMO is a very dangerous. It has made many coins dump on me and tidy I would have made x500 of the coins assuming they didn't dump on me. When you hit your daily target, exit and what for another opportunity. There must be another opportunity.

However there is a caveat, every single movement in the markets big or small is an opportunity but only if you have the knowledge and the money to exploit it.

If you do not have one of those key components then there is nothing you can do to profit from the markets, as without money you cannot trade and without the knowledge you cannot know the most likely outcome which may come to happen next in those same markets, so it is important to always keep this in mind, especially since newbies have the tendency to trade the markets without any knowledge about them and that is why they lose so often and their losses are so massive as well.

[perfect999]

There is always a next opportunity. This should be the watch word of a successful trader. Every candle stick is an opportunity. Every dip is an opportunity, every bull is an opportunity.
The FOMO is a very dangerous. It has made many coins dump on me and tidy I would have made x500 of the coins assuming they didn't dump on me. When you hit your daily target, exit and what for another opportunity. There must be another opportunity.

However there is a caveat, every single movement in the markets big or small is an opportunity but only if you have the knowledge and the money to exploit it.

If you do not have one of those key components then there is nothing you can do to profit from the markets, as without money you cannot trade and without the knowledge you cannot know the most likely outcome which may come to happen next in those same markets, so it is important to always keep this in mind, especially since newbies have the tendency to trade the markets without any knowledge about them and that is why they lose so often and their losses are so massive as well.

What is being said above are accurate but the reality is only few people appreciate it like when there is a heavy dip, most of the reactions that we expect are the same, they hate it and they are worried but for the small percent of people they know that it was an opportunity. Most of us only knows one opportunity and that is if when the market is pumping.

In this market, we need a money to buy coins to trade, everyone knows this already but not all have the right knowledge to trade, this is what makes them a failure. What is worst is that they also use bigger amount of money to trade. They acted like they are not a newbie in this market.

[LUCKMCFLY]

Greediness and not having patience to take things easy are one of the problems in that has been a serious challenge for some traders. For one to be successful in trading it is important for one to understand that greediness and not having patience are the set backs that can make a trader to loss all what he/she has been building for sometime. Traders should learn to be satisfied with little profit.

From my own personal experience while trading cryptocurrencies, I had a tough time in dealing with greediness, I had experienced situations where an already profitable trade turned loss due to my inability of being disciplined and take profit appropriately even knowing that price of cryptos is very volatile, however with some little research using a technical indicator known as Bollinger Band and RSI, I had been very careful now while taking my profits irrespective of how small or huge once the price moved out of the Bollinger Band both upper and lower for long and short trades.

What killed me about trading when I was starting out was the lack of patience, sometimes waiting a long time made me desperate, just seeing that the movement I wanted to happen did not happen, sometimes it made me leave the market no matter what. in loss and then after hours if it happened, this caused me frustration, then I tried to do scalping and it was like something worse, because for scalping what is needed is to have a lot of balance so that in the movements that are made in favor you see the benefits, otherwise there is very little that can be won, the bad thing is that if the movement goes against you, you would lose a lot of money and quickly.

[Viscore]

[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.

Greed may sometimes be useful in some ways, but mostly, when you come to invest, you should never be driven by greed, or simply just learn to control it. Because its part of being a human, so eventually it will always develop no matter what, but as long as you can reduce or control it, then things will be fine. However, when we are in crypto investing, we should always take time to sell when the prices of the coins have increased a lot, that way we will sell in profits, not with losses. Because knowing the market is so volatile, the prices will eventually drop down without us knowing so better sell them when there are good opportunities to sell.

[hyudien]

What killed me about trading when I was starting out was the lack of patience, sometimes waiting a long time made me desperate, just seeing that the movement I wanted to happen did not happen, sometimes it made me leave the market no matter what. in loss and then after hours if it happened, this caused me frustration, then I tried to do scalping and it was like something worse, because for scalping what is needed is to have a lot of balance so that in the movements that are made in favor you see the benefits, otherwise there is very little that can be won, the bad thing is that if the movement goes against you, you would lose a lot of money and quickly.

Plus, when you make a purchase the price goes down, and vice versa when you make a sale the price goes up. That's what keeps me from being in the market every day. Turned away from the Chart movement, Decided to be a Holder and educate me as much as possible to control my emotions. Until gradually it turns out that the holder is more mentally educating us to continue to think positively.

[palle11]

Decided to be a Holder and educate me as much as possible to control my emotions. Until gradually it turns out that the holder is more mentally educating us to continue to think positively.

Hodling of coins is not the same with trading and so the emotions involved are not the same thing. A trader should have a very good emotional intelligence and balance not to be overtaken by the speed of the market but hodling is to effortlessly witness your coin rise or it falls whichever is the case. But trading generates income faster than just hodling a coin in your wallet.

[hyudien]

But trading generates income faster than just hodling a coin in your wallet.

Trading futures and long term holders, all with agreed risk. But for the holder, we can only sleep more comfortably when there is a temporary decrease or temporary increase. Of course trading generates passive profits, but it is not always profitable. As for the Holder once taking profit, it clearly outweighs the gain from trading (especially in bitcoin).

[palle11]

But trading generates income faster than just hodling a coin in your wallet.

Trading futures and long term holders, all with agreed risk. But for the holder, we can only sleep more comfortably when there is a temporary decrease or temporary increase. Of course trading generates passive profits, but it is not always profitable. As for the Holder once taking profit, it clearly outweighs the gain from trading (especially in bitcoin).

It is clear that trading is more risky and that is not disputed. Again the profit in trading is just for few, not every trader profit but every hodler will get back the hodling with time if the bull resume. I have hodl a coin to a point it diminished because of decrease in price but by the time the bull resume then the coin got back to profit that is the point I'm saying.

[LastKiss]

Decided to be a Holder and educate me as much as possible to control my emotions. Until gradually it turns out that the holder is more mentally educating us to continue to think positively.

Hodling of coins is not the same with trading and so the emotions involved are not the same thing. A trader should have a very good emotional intelligence and balance not to be overtaken by the speed of the market but hodling is to effortlessly witness your coin rise or it falls whichever is the case. But trading generates income faster than just hodling a coin in your wallet.

Well since hodling is counted as investing in my opinion so we should know about the project that we want to invest but in trading, we should know much before entering the market because when you see the market you will confuse in the first look that's why education is needed. Trading will generate income faster if we are always in profit but if we're in losses then there's no income for you

[Silberman]

Decided to be a Holder and educate me as much as possible to control my emotions. Until gradually it turns out that the holder is more mentally educating us to continue to think positively.

Hodling of coins is not the same with trading and so the emotions involved are not the same thing. A trader should have a very good emotional intelligence and balance not to be overtaken by the speed of the market but hodling is to effortlessly witness your coin rise or it falls whichever is the case. But trading generates income faster than just hodling a coin in your wallet.

One of the main differences between a trader and an investor has to do with their frames of reference, an investor is thinking in terms of years or even decades, which means that when the price of an investment they made begins to go down they will keep holding their coins as they trust in the fundamentals of the asset and not on the short term fluctuations they see in the market, but a trader cannot afford to do something like this and instead they need to sell under those circumstances, and even if the profits a trader can get are better it is way more difficult to become proficient at it, which is why many people prefer to become investors instead.

[lienfaye]

But trading generates income faster than just hodling a coin in your wallet.

Trading futures and long term holders, all with agreed risk. But for the holder, we can only sleep more comfortably when there is a temporary decrease or temporary increase. Of course trading generates passive profits, but it is not always profitable. As for the Holder once taking profit, it clearly outweighs the gain from trading (especially in bitcoin).

It is clear that trading is more risky and that is not disputed. Again the profit in trading is just for few, not every trader profit but every hodler will get back the hodling with time if the bull resume. I have hodl a coin to a point it diminished because of decrease in price but by the time the bull resume then the coin got back to profit that is the point I'm saying.

I agree. Everyone can be a trader but not everyone can profit and succeed, thats why some traders decided to be a hodler because its less risky. Im an active day trader before, but I find it hard and stressful, it also requires lots of time to monitor the market. Hence I switched to being a hodler, although it takes patience in order to profit, but its worth it if the bull market occur especially if you're holding a well-established coins that has a huge increase.

[Smartprofit]

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.

[1].Don't Chase the market:
There is always a next opportunity in the market,
If you miss this opportunity wait for next one.

[2]. Always be patient with your trading set ups:
 Sometime it takes you up to a week or more for a trading set ups to get complete before executing a trade.
Secondly, sometimes it's good to wait for your stop lose and take profits to get triggered and don't close them yourself out of fear.

[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.

[4].Don't outsmart the market :
market does whatever thing it wants to do, so don't be too smart wait for confirmation.

[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.

Yes, these are good principles of profitable trading. 

New opportunities are constantly appearing on the market.  The problem is to see these opportunities in time.  In trading, you need to make a profit not only in terms of US dollars, but also in terms of bitcoin.  Otherwise, trading makes no sense.  You can just hold bitcoin. 

It is also very important to keep your emotions (greed, fear) under control.  Emotions are very dangerous for any trader and can nullify his deposit. 

It is important to understand that the market is always smarter than you.  It generates scenarios that you can't even imagine.

[Xxmodded]

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.
[2]. Always be patient with your trading set ups:
 Sometime it takes you up to a week or more for a trading set ups to get complete before executing a trade.
Secondly, sometimes it's good to wait for your stop lose and take profits to get triggered and don't close them yourself out of fear.

This point most important on trading bitcoin or altcoin, some time have trader not patient waiting with price drastically drop for buy back several altcoin, they not really understand with risk when keep buy altcoin on higher price actually after reaching all time high price. Last week my friend not patient waiting with  Zil coin price drop to buy and keep try buy on higher price about $0.2 and now price drastically drop until $0.1 and almost loss 50% and keep holding until now.

[kapalmabur]

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.
[2]. Always be patient with your trading set ups:
 Sometime it takes you up to a week or more for a trading set ups to get complete before executing a trade.
Secondly, sometimes it's good to wait for your stop lose and take profits to get triggered and don't close them yourself out of fear.

This point most important on trading bitcoin or altcoin, some time have trader not patient waiting with price drastically drop for buy back several altcoin, they not really understand with risk when keep buy altcoin on higher price actually after reaching all time high price. Last week my friend not patient waiting with  Zil coin price drop to buy and keep try buy on higher price about $0.2 and now price drastically drop until $0.1 and almost loss 50% and keep holding until now.

In trading in crypto as a trader, you must know the right moment to buy or sell,
in this case I think as a trader it is also very important to have skills in analyzing the market,
at least it will help in making decisions and can also minimize the risk

[nur rochid]

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.
[2]. Always be patient with your trading set ups:
 Sometime it takes you up to a week or more for a trading set ups to get complete before executing a trade.
Secondly, sometimes it's good to wait for your stop lose and take profits to get triggered and don't close them yourself out of fear.

This point most important on trading bitcoin or altcoin, some time have trader not patient waiting with price drastically drop for buy back several altcoin, they not really understand with risk when keep buy altcoin on higher price actually after reaching all time high price. Last week my friend not patient waiting with  Zil coin price drop to buy and keep try buy on higher price about $0.2 and now price drastically drop until $0.1 and almost loss 50% and keep holding until now.

basically psychology becomes the most important in determining trading success. there will be many problems that will be faced or a problem that we repeat ourselves because we often make the same mistakes. that is why our mindset and our mentality are of utmost importance, because even with great strategies that may be the same as those used by famous people, but if our mentality is still problematic then it will be useless. therefore creating a framework and running it according to plan is the first step to forming trading intuition

[Lanatsa]

This is a fairly convenient manual, first of all - for a beginner. I think many people should read this to understand their vulnerabilities.

Understand the basics
Dont get yourself impulsive
Dont easily believe with shills and fuds
Decide for your own analysis
Dont be greedy
Be good on handling your capital or simply risk management.

Although learning up these things would require for you to lose some of your investment on which you could
really gain up experience from that one.

[Pejoh Asu]

This is a fairly convenient manual, first of all - for a beginner. I think many people should read this to understand their vulnerabilities.

.

The most important thing when you are a newbie is to continue to upgrade your knowledge and be brave to try, but since we are into crypto the most important thing is to understand that there is a significant price risk, always be optimistic and don't be greedy when you see profit will make us able to profit and become proficient one day .

[AicecreaME]

This is a fairly convenient manual, first of all - for a beginner. I think many people should read this to understand their vulnerabilities.

.

The most important thing when you are a newbie is to continue to upgrade your knowledge and be brave to try, but since we are into crypto the most important thing is to understand that there is a significant price risk, always be optimistic and don't be greedy when you see profit will make us able to profit and become proficient one day .

This is very true.

The mistakes I've made when I was starting trading is being greedy, not making any technical analysis, and not setting stop loss and take profits even though I don't watch my trade 24/7 because I'm doing a lot of things. However, realization will come up naturally after you spent a lot of time and money in trading. You will eventually get the knowledge you want to at least make profits most of the time. It's all about patient, and continuous learning while risking your money.