When Trading becomes Unfavourable

[AmoreJaz]

~snip~In my experience, the first step in any trading career is not to learn technical analysis but to learn about emotions while looking out for patterns about how the trader in question reacts to certain situations. You might have the right technical analysis and biases but miss out on the gains because your emotions made you do so. Ignoring it simply sets one up to fail.

Managing trading emotions is an important thing to do first, because it is not easy to have stable trading emotions. The final determinant of trading depends on how we make decisions and emotions will underlie it. It is also influenced by the technical analysis carried out. Finding a suitable technical analysis pattern also takes time, because many analysis tools can be combined and you have to choose which one you will use. Don't neglect anything, practice trading emotions, technical analysis will give you a good experience it must go hand in hand.

the usual dilemma here is that most newcomers in crypto trading have false hope of getting rich quick. they thought it is easy to earn profits from crypto, hence, they jump on every hype they see. up until they come up to the fact that most alts are just money grab from gullible buyers.

[Fatunad]

(....)
Sticking to the trading plan is also good to avoid unfavourable trade as changing plans in the middle of a trade Can really lead to a loss in trade.

This is a common mistake of new traders. They intend to lose money because they don't have 1 final decision everytime.
Best example is when they open their trade, they don't have a plan like how much is their willing lose on every trade, when is the stop loss, and what is target price.
Some don't have stop loss and they are hoping their entry will recover.

The decision of whether to continue with your trade plan or whether to change plan at the face of adversity is not an easy one to make. I have seen a situation that people opt to sticking with their plan and the losses became too massive. I have also seen people changing plan and later their initial plan became a success. The best thing is not to fall into such a situation but it is not easy to avoid it totally in as much as you are in the market. Sometimes, exiting the market even at loss would be wise instead of taking some emergency and uncalculated risk.
Trading is not for everyone though, I have stopped day trading.

Trading is like graduating from one phase to another. We can't understand every phase like others seem to but what we need to do is to get proper understanding from the stage we are so that we can utilize it in a way that will bring us profits as gambler. Some traders do still know some necessary things they needed to understand very compulsory before they start going into life trading and if we don't work smartly, we can fall out from where we want to see ourselves or from the position we started. We need to avoid and setback as a trade Mr that can bring loses to us at all cost.

Should really be a gradual step and its not something a skill that you could really be able to acquire with just few steps or application or engagement towards the market but this one really involves tons of trades which you
would be able to find out whether you are really that progressive or being that stuck on a certain situation on which you cant really be able to overcome or you do continuously fail. It would really be just that a common approach or reaction that you would really be needing to adjust accordingly. We arent that blind nor not been aware on how this market behaves which it is really that truly random and no matter how well you do make out those kind of analysis whether technical or fundamentals, it wont really be still giving out that assurance that out that positive results or outcome on which there's always the possibility that it would really be that ending on negative results and just like on what others been saying that you would be needing to make yourself that versatile because if you dont, then you would definitely be making yourself struggle on handling yourself towards the market.

[Bitcoin_people]

Starting a business must face many challenges. Trading should be done mainly with experience only then it is possible to profit but many times it is seen that traders fail their opponents and lose half. You need to gain good experience when you start trading otherwise you will be emotional when you face losses.  In that case you have to start trading with risk because many times you may face huge losses but also many times you may profit. You need to know the important things about trending so that you don't face losses and know which coins you can trade in to profit. If you invest in some elat coins which are not trusted then you will definitely risk your money and may face losses. But if you start trading with Bitcoin then you will have less risk of loss and will be able to profit in future without having to face losses. And you must take advice from all investors to learn more details about trading and gain experience only then you can move forward.

[TheUltraElite]

There are few factors that leads to unfavourable trading, these factors includes Greed, and chasing a trend, Traders are expected to encounter Challenges during trading and relating these challenges with people's experiences can be the key in solving the challenge, 
Sticking to the trading plan is also good to avoid unfavourable trade as changing plans in the middle of a trade Can really lead to a loss in trade.

The only trading plan to follow is buy low and sell high. There is nothing to abandon here, if you are only going with spot trading and not the others. Then there are those who panic at a market moving the opposite of what they predicted. For them I suggest dummy trading at first if they are new and that does not work to season their emotions they should stop trading.

Greed and others are common but controlling them takes time to learn. Specially if you are trading as a side hustle you can remain calm more easily - reason why I suggest people to have some real life job and then trade.

[Dzwaafu11]

There are few factors that leads to unfavourable trading, these factors includes Greed, and chasing a trend, Traders are expected to encounter Challenges during trading and relating these challenges with people's experiences can be the key in solving the challenge, 
Sticking to the trading plan is also good to avoid unfavourable trade as changing plans in the middle of a trade Can really lead to a loss in trade.

The problem with many traders today is greed and a lack of fundamental knowledge of trading. It always surprises me when you see someone who is expecting to learn trading decide to trade because he saw a friend who is a trader gain profit without understanding what that friend has passed through before getting to that stage. However, greed has never favored someone anywhere, not only in trading, and the most important thing is emotion. A trader needs to have control over his emotions, even someone who is an expert in trading. If you cannot control your emotions, you are at a higher risk of losing your money than someone who is new to trading but has control over his emotions.

But for trending, when you see some trending, the best thing you should do is have a plan for it and do good research about what you see. If the number of people favoring the trend is higher than the number of people who are unlucky, you can see that you can also give the trend a try and see if it will also be in your favor.

[palle11]

There are few factors that leads to unfavourable trading, these factors includes Greed, and chasing a trend, Traders are expected to encounter Challenges during trading and relating these challenges with people's experiences can be the key in solving the challenge, 

You can take the decision to stop an unfavourable trade no matter the amount of loss you are already incurring but at same time don't regret when the direction suddenly change to your earlier position. In that situation take it as one of those days the market is not giving a good opportunity for you.

Sticking to the trading plan is also good to avoid unfavourable trade as changing plans in the middle of a trade Can really lead to a loss in trade.

Remember even the best trading strategy do fail so when this happens don't see your strategy as a losing one. I keep this in mind that everyday will not be a successful trading day.

[Questat]

Starting a business must face many challenges. Trading should be done mainly with experience only then it is possible to profit but many times it is seen that traders fail their opponents and lose half. You need to gain good experience when you start trading otherwise you will be emotional when you face losses.  In that case you have to start trading with risk because many times you may face huge losses but also many times you may profit. You need to know the important things about trending so that you don't face losses and know which coins you can trade in to profit. If you invest in some elat coins which are not trusted then you will definitely risk your money and may face losses. But if you start trading with Bitcoin then you will have less risk of loss and will be able to profit in future without having to face losses. And you must take advice from all investors to learn more details about trading and gain experience only then you can move forward.

We can learn more things from trading through experience but with that, losses will accompany us as well. As we begin trading, it should not be the profit that we have to think about first but instead, focusing on learning first and considering all the mistakes and losses will help us more. We can say that nobody becomes successful in trading without suffering losses and it comes with patience. And if we think it was easy, I don't think we are able to reach our goal and become successful but possibly will fail.

[cheezcarls]

There are few factors that leads to unfavourable trading, these factors includes Greed, and chasing a trend, Traders are expected to encounter Challenges during trading and relating these challenges with people's experiences can be the key in solving the challenge, 
Sticking to the trading plan is also good to avoid unfavourable trade as changing plans in the middle of a trade Can really lead to a loss in trade.

No matter how experience you are in trading, the market is always the master. Even sticking to the trading plan isn’t perfect either, because there are unpredictable things that would happen without warning.

Even pro traders out there are getting liquidated in their positions too. Whatever technical analysis, predictions and insights that they have, they cannot outsmart the market.

Risk management is always the best skill that we need in unpredictable situations in the crypto space.

[abel1337]

Starting a business must face many challenges. Trading should be done mainly with experience only then it is possible to profit but many times it is seen that traders fail their opponents and lose half. You need to gain good experience when you start trading otherwise you will be emotional when you face losses.  In that case you have to start trading with risk because many times you may face huge losses but also many times you may profit. You need to know the important things about trending so that you don't face losses and know which coins you can trade in to profit. If you invest in some elat coins which are not trusted then you will definitely risk your money and may face losses. But if you start trading with Bitcoin then you will have less risk of loss and will be able to profit in future without having to face losses. And you must take advice from all investors to learn more details about trading and gain experience only then you can move forward.

We can learn more things from trading through experience but with that, losses will accompany us as well. As we begin trading, it should not be the profit that we have to think about first but instead, focusing on learning first and considering all the mistakes and losses will help us more. We can say that nobody becomes successful in trading without suffering losses and it comes with patience. And if we think it was easy, I don't think we are able to reach our goal and become successful but possibly will fail.

The money that you lose in your journey on trading can be consider as charge to experience. Most of us suffered from losses especially when we are all just starting but yeah there are people who wins on the early stage of their trading experience and I don't think it's a bad thing especially if the trader didn't became overconfident of the market and still treat the market with caution. But yeah every successful trader experience losses on trading, it's their own will that will make them continue in practicing trading.

[Jody.Drummer]

Starting a business must face many challenges. Trading should be done mainly with experience only then it is possible to profit but many times it is seen that traders fail their opponents and lose half. You need to gain good experience when you start trading otherwise you will be emotional when you face losses.  In that case you have to start trading with risk because many times you may face huge losses but also many times you may profit. You need to know the important things about trending so that you don't face losses and know which coins you can trade in to profit. If you invest in some elat coins which are not trusted then you will definitely risk your money and may face losses. But if you start trading with Bitcoin then you will have less risk of loss and will be able to profit in future without having to face losses. And you must take advice from all investors to learn more details about trading and gain experience only then you can move forward.

We can learn more things from trading through experience but with that, losses will accompany us as well. As we begin trading, it should not be the profit that we have to think about first but instead, focusing on learning first and considering all the mistakes and losses will help us more. We can say that nobody becomes successful in trading without suffering losses and it comes with patience. And if we think it was easy, I don't think we are able to reach our goal and become successful but possibly will fail.

The money that you lose in your journey on trading can be consider as charge to experience. Most of us suffered from losses especially when we are all just starting but yeah there are people who wins on the early stage of their trading experience and I don't think it's a bad thing especially if the trader didn't became overconfident of the market and still treat the market with caution. But yeah every successful trader experience losses on trading, it's their own will that will make them continue in practicing trading.

Well that's right, think of it as an exchange for a valuable experience. Whatever you have done like sacrificing a lot of time and also maybe with some losses there but you have to believe that no effort betrays the results, if you really believe in what you have started then do it and be enthusiastic about the whole process. Profit or loss is normal when we become a trader and everyone will definitely experience every phase in developing their trading skills. That's right, sometimes there are also some of us and including me who when we get a profit we immediately feel very confident about the knowledge we have and as if we can master the direction of price movements in a market, even though on the other hand it is very difficult to be able to predict the market if we do not have some appropriate references that correspond to the occurrence of price direction such as some news that affects the global economy. Basically, being a trader must continue to learn, even successful traders continue to improve their knowledge on various sides, training themselves in terms of mental and psychological is very important because it will be very helpful for us to make the right decision in open positions.

[doomloop]

There are few factors that leads to unfavourable trading, these factors includes Greed, and chasing a trend, Traders are expected to encounter Challenges during trading and relating these challenges with people's experiences can be the key in solving the challenge, 
Sticking to the trading plan is also good to avoid unfavourable trade as changing plans in the middle of a trade Can really lead to a loss in trade.

Greed can definitely make someone lose a lot of money and that is the case in every industry, not only in trading. I wouldn't call chasing a trend unfavorable for someone, although I believe that someone should just always do their research and analyze all the situations and the outcome of chasing a certain trend, having experience in such a case can definitely make someone feel a bit more confident because they would know everything in that case.

Also, maybe not changing the trading plan completely but making adjustments during an open trade only due to the market volatility that might not be going towards your desired direction shouldn't really be considered bad because such things can always happen in the cryptocurrency market.

[RewFrew]

Actually for trading we have to learn properly about it. We saw experienced traders can profit but without proper knowledge when someone who are invest and trade then he losing his valuable fund. But some times we are losing for unfavourable trading, these factors includes Greed, and chasing a trend. Some times trade were unfavourable so we lost our valuable fund and some times we were losing for greed and some times we could not chasing trend. I think those are main causes for lose in trade. Trade were favourable and we able to control emotion and greed and market trend were Goes in our favor then we able to profit.

[livingfree]

Sticking to the trading plan is also good to avoid unfavourable trade as changing plans in the middle of a trade Can really lead to a loss in trade.

If you've got a plan, you have to stick on it because that's what you think is right. But unforeseen changes do happen at any time and you should also be open on it.

Who knows if that unplanned strategy came to you and that works better for you. That means that you have discovered a strategy that works perfectly for you through this unplanned change.

Otherwise, it's best to stick to what you think is better than unknown changes that might come to you as you trade.

[freedomgo]

Sticking to the trading plan is also good to avoid unfavourable trade as changing plans in the middle of a trade Can really lead to a loss in trade.

Yes, adherence to the trading plan is healthy in trading. It is wrong to move from one strategy to another without completing it. This movement often causes losses.

It is true that most of the time you have to stick to the trading plan until the end, but on the other hand, sometimes insisting on continuing the strategy is a mistake. If you see a defect in the results, you should re-evaluate the plan and then decide whether to continue, move to another strategy, or stop.

The reason why there is trading plan in the first place is to make trading easier. So if you suddenly change your plan while you’re in the middle of trading, what outcome do you expect? Surely it will only lead to a mess that will make you lose from your trades. However, with beginner traders, expect that there will be possible changes along the way. Probably it’s part of trial and error method, but the more you’ll gain experiences in trading, the more you’ll have fixed and stable trading plans before you decide to start trading.

[dunfida]

Sticking to the trading plan is also good to avoid unfavourable trade as changing plans in the middle of a trade Can really lead to a loss in trade.

Yes, adherence to the trading plan is healthy in trading. It is wrong to move from one strategy to another without completing it. This movement often causes losses.

It is true that most of the time you have to stick to the trading plan until the end, but on the other hand, sometimes insisting on continuing the strategy is a mistake. If you see a defect in the results, you should re-evaluate the plan and then decide whether to continue, move to another strategy, or stop.

The reason why there is trading plan in the first place is to make trading easier. So if you suddenly change your plan while you’re in the middle of trading, what outcome do you expect? Surely it will only lead to a mess that will make you lose from your trades. However, with beginner traders, expect that there will be possible changes along the way. Probably it’s part of trial and error method, but the more you’ll gain experiences in trading, the more you’ll have fixed and stable trading plans before you decide to start trading.

Changes that had been made midway could neither be that a good call or something that turns out to be disaster on your trade since you initial plan did work and the recent one had failed out.There's always that feeling

of regret on the time that you would be able to do such thing but if it did make out that other result or going along with the current change you had and turns out to be effective or a profitable one, then you would really be having that kind of perception or thinking that it is really that better to have those kind of adjustments if ever you do feel for it to be change. This is situational and this would really vary since not all changes would result on positive because its true that if you cant really be able to steady up with your initial plans then i could say that you arent really that good on handling out your emotion or having that discipline.

Well, every decision to be made would be having that corresponding risks and since we are dealing on a market on which it is really that truly unpredictable then there's no way that we could be able to precisely tell on where it would be heading or going. This is why we do always be having that speculative approach from time to time and have those factors which could affect out our decisions earlier which we really mind off whether
we do go that way or stand still.

[Issa56]

Trading is like graduating from one phase to another. We can't understand every phase like others seem to but what we need to do is to get proper understanding from the stage we are so that we can utilize it in a way that will bring us profits as gambler. Some traders do still know some necessary things they needed to understand very compulsory before they start going into life trading and if we don't work smartly, we can fall out from where we want to see ourselves or from the position we started. We need to avoid and setback as a trade Mr that can bring loses to us at all cost.

Trading is a gradual process; it's not something you can start and think you can be making money instantly. If you are looking for instant money, then stay away from trading, or you might end up losing everything. I had a similar experience when I started trading. I didn't have anyone to guide me, so I had to learn it by reading books and watching tutorial videos on YouTube. In the process of learning, I wasted all the money I deposited to trade it. I was scared then, so after entering a trade and being at a loss, I would end up selling the coin. I was scared of losing money, and it happened to me repeatedly until I had nothing left in my wallet. I did more research to gain more knowledge, and there was improvement.

[Finestream]

Sticking to the trading plan is also good to avoid unfavourable trade as changing plans in the middle of a trade Can really lead to a loss in trade.

I totally disagree - especially if you have to change your long term to short term plans out of necessity.

As long as you sell it in a position that benefits you financially - then you are free to make changes to the plan. Trading shouldn't be so rigid - sometimes you also need to make adjustments instead of sticking to a strategy that isn't more profitable. I hope you see what I mean - but it's not too hard.

Well, as an individual trader, we set our own plans and goals to create successful trading. While it’s good to follow a definite trading plan, but if you see better trading plans along the way, why not change it for better results? Successful trading is not measured on how you laid up your plans, but on how your perform your trades by following the best plan you have set it for it. At times you resort to changes, but it does not mean that you are making your trades messy and unprofitable, but you need to change your plan because it’s where you see best trading results right at that moment.

[Japinat]

There are few factors that leads to unfavourable trading, these factors includes Greed, and chasing a trend, Traders are expected to encounter Challenges during trading and relating these challenges with people's experiences can be the key in solving the challenge, 
Sticking to the trading plan is also good to avoid unfavourable trade as changing plans in the middle of a trade Can really lead to a loss in trade.

Actually its hard for someone to follow their plan especially when they enjoy their trades or they want to get more profits since for sure they will do a risky trades with that. But I think if you are a newbie its good that you experience those scenarios since you can experience the negative sides of the action you do and once you realize that mistake cost you some money then for sure you will never commit those again then you will be more careful on your trades decision and selections.

Remember that all veteran traders started trading from a scratch. They did a lot of mistakes and suffer consistent losses when they are newbies but that never hinder them from improving their trading career and make it even a source of living. There’s no perfect trading in reality, but what is more important is how you process all your mistakes and losses in trading that makes it more profitable and worth doing for at the moment.

[carlfebz2]

There are few factors that leads to unfavourable trading, these factors includes Greed, and chasing a trend, Traders are expected to encounter Challenges during trading and relating these challenges with people's experiences can be the key in solving the challenge, 
Sticking to the trading plan is also good to avoid unfavourable trade as changing plans in the middle of a trade Can really lead to a loss in trade.

Actually its hard for someone to follow their plan especially when they enjoy their trades or they want to get more profits since for sure they will do a risky trades with that. But I think if you are a newbie its good that you experience those scenarios since you can experience the negative sides of the action you do and once you realize that mistake cost you some money then for sure you will never commit those again then you will be more careful on your trades decision and selections.

Remember that all veteran traders started trading from a scratch. They did a lot of mistakes and suffer consistent losses when they are newbies but that never hinder them from improving their trading career and make it even a source of living. There’s no perfect trading in reality, but what is more important is how you process all your mistakes and losses in trading that makes it more profitable and worth doing for at the moment.

No one starts on being a pro directly on which it is really just that right or normal that everyone starts on being a newbie and its true that on the time that they do reach out on being that professional or veteran then

of course this one involves that long time engagement and experience towards this market.This isnt something talking about few weeks or months but rather years because this market is always been that something random or unpredictable on which handling out yourself and making sustainable is the main challenge that you would really be needing to find out because if you cant sustain this market then there's something wrong with your trading ways and methods which is something you do need to find out. There's no indeed such thing about perfect trade but somewhat there's really that sustainable ones despite of the losses you do have you do still able to make yourself that profitable in the end of the day.

Never stop learning and dont let those few losses would discourage you on moving forward because this had been always the problem or common issue for people on easily on giving up on the time
that they do experience unfortunate events.

[ultrloa]

There are few factors that leads to unfavourable trading, these factors includes Greed, and chasing a trend, Traders are expected to encounter Challenges during trading and relating these challenges with people's experiences can be the key in solving the challenge, 
Sticking to the trading plan is also good to avoid unfavourable trade as changing plans in the middle of a trade Can really lead to a loss in trade.

Actually its hard for someone to follow their plan especially when they enjoy their trades or they want to get more profits since for sure they will do a risky trades with that. But I think if you are a newbie its good that you experience those scenarios since you can experience the negative sides of the action you do and once you realize that mistake cost you some money then for sure you will never commit those again then you will be more careful on your trades decision and selections.

Remember that all veteran traders started trading from a scratch. They did a lot of mistakes and suffer consistent losses when they are newbies but that never hinder them from improving their trading career and make it even a source of living. There’s no perfect trading in reality, but what is more important is how you process all your mistakes and losses in trading that makes it more profitable and worth doing for at the moment.

No one starts on being a pro directly on which it is really just that right or normal that everyone starts on being a newbie and its true that on the time that they do reach out on being that professional or veteran then

of course this one involves that long time engagement and experience towards this market.This isnt something talking about few weeks or months but rather years because this market is always been that something random or unpredictable on which handling out yourself and making sustainable is the main challenge that you would really be needing to find out because if you cant sustain this market then there's something wrong with your trading ways and methods which is something you do need to find out. There's no indeed such thing about perfect trade but somewhat there's really that sustainable ones despite of the losses you do have you do still able to make yourself that profitable in the end of the day.

Never stop learning and dont let those few losses would discourage you on moving forward because this had been always the problem or common issue for people on easily on giving up on the time
that they do experience unfortunate events.

The mistake of newbie is they think trading is easy that's why they want to make all fast together with the profits they possibly take. That's the reason why many of them fail on their first trade because they are there by hype then gain and not for learnings and experiences.

If they approach trading in a right way and start to learn technical matters about it provably they became a pro in long run. Also to many changes happen in the market so its better for them to adopt those things so that they will not miss any important situation that can help them on their trading decisions.