Why people mostly fail in trading

[Casdinyard]

Trading is not a get rich quick scheme as most newbie think, it's more difficult that we all can imagine, but their is always a way to navigate your way in trading so  as to come out profitable.
The main reason why most trader fail in trading is that they are not trained in the craft, most experience traders as they call their self don't even know how to identify the least support and resistance, talkless of knowing how to react when they see some certain chart pattern or candle stick pattern.
The skills I  believe that are  required to come out profitable in trading are;

* Knowledge: know the craft, know what you are doing, don't trade on assumption.

* Know how to control your emotions: it's very important that you know how to control your emotions like fear and greed in trading.

* Know how to manage your risk: knowledge and emotional control gives you money, but proper risk management skill protect your money and your gains

most mistakes of traders are;

* Thinking it's a get rich quick scheme or thinking that it's easy.

* Having no proper training in the craft to attain knowledge about it.

* Watching one two or three video's on YouTube by one YouTube influencer and think they are ready for it or thinking they have known the craft.

* Having no experience traders that is good in the craft to guide them.

I think one of the most unspoken yet biggest reasons why people quit trading even if they have a high chance of succeeding later down the line is because of the fear of failure. There are a lot of traders here for instance who have taken long breaks and hiatuses all because they got traumatized by a massive loss they took in one of their trading sessions.

It's not about thinking that you're going to get rich quickly, I think anyone who had a basic understanding of trading knows that you have to put in an equal amount of effort and dedication to trading if you want to really profit. It's all about risk management and not expecting massive losses to come their way. I've been like that in the past. I lost almost all of my crypto holdings in one go and I went crazy to the point of not just quitting crypto altogether but quitting life itself. Looking back there are of course ways and opportunities that are looking at me in the face I couldn't see because I was so busy moping and sulking, and yet I don't fault myself for it, and nor do I fault people who quit trading cause they got scared.

It's a normal response, it's not like money grows on trees anyway. However, it's a massive step towards success if you are able to get past this and still trade despite the fear. If this is you, I congratulate.

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[Adbitco]

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If you are really determined to be a professional trader someday, you would definitely prepare for that, not just physically and emotionally, but more likely financially as it’s a lot expensive if you hire a professional trader that is certainly knowledgeable and skillful on his craft.

While real professional traders demand for high professional fees, you can find it free in social media if you indulge yourself with these self-proclaimed successful traders. Probably that’s the reason why a lot would settle getting some tips from these kind of people, not realizing that even if they save their funds from not getting real professional traders, their bank account will also be compromised if they entrust their money with these too good to be true traders from the social media.

Nobody goes into trading without having the good knowledge of what it takes to trade and it's not just what you can start a day or develop it in just a week after which then go funds their trading account to start trading even though account is funded at least they need to start with little amount to test their overall performance to know if they can be able to handle such trade.
Sometimes most people encourage beginners to use Demo to start perfecting their skills, but to me it seems that Demo makes us very lazy because the action of real account is not the same as Demo account because it looks more easier to handle Demo than live account.

[Nrcewker]

If you mean failure means losses, then there might be various reasons depending on the people and the coins they trade. Mostly people come to trading in order to make huge amount of money in shorter period of time. For this they take huge risk and if luck and predictions doesn’t favour them, they make the losses. So I would say greed is the main culprit for which people make losses. Traders need to show patience while trading and should rely on short yet steady profits. If these can be improved then they will definitely make good profits while trading.

[Dzwaafu11]

most mistakes of traders are;

* Thinking it's a get rich quick scheme or thinking that it's easy.

* Having no proper training in the craft to attain knowledge about it.

* Watching one two or three video's on YouTube by one YouTube influencer and think they are ready for it or thinking they have known the craft.

* Having no experience traders that is good in the craft to guide them.

Sure. These are the things that influence newbie traders to jump into trading and start losing their money. Most especially when you said you had no knowledge about it and decided to trade, most of the newbie traders who lose in trading think that once they learn trading for a month or so, it’s okay for them to trade. Some of them don’t have specific strategies they use while trading, which is also important. and some are not aware of the risk and lack of control over their emotions. I think these are the key things they should know before venturing into trading.

Fundamental knowledge and skills are also very important. Some newbie traders are not looking at this, and they need to know how the crypto market is operating so that even if they later get the knowledge, they will be able to manage the risk and trade. Also, the technical analysis is very important to know. However, I think these are the things that newbie traders are unable to wait and learn, and that is why they keep on losing their money, thinking that they will gain one day, which is not true. They believe that since they said losing in trading is natural, they will later gain. They should know that if they don't learn, they won't earn.

Watching online videos affects many traders today. They need to understand that online videos are not showing losses. People posting those videos are not showing their losses. Furthermore, most of them are online influencers; they get paid to promote those videos and signals; they only talk about what they told them; they don't know anything about what they are discussing, so I’ll advise anyone who wants to join trading to wait and learn everything possible to avoid too many losses.

[2girls]

Trading is not a get rich quick scheme as most newbie think, it's more difficult that we all can imagine, but their is always a way to navigate your way in trading so  as to come out profitable.
The main reason why most trader fail in trading is that they are not trained in the craft, most experience traders as they call their self don't even know how to identify the least support and resistance, talkless of knowing how to react when they see some certain chart pattern or candle stick pattern.
The skills I  believe that are  required to come out profitable in trading are;

* Knowledge: know the craft, know what you are doing, don't trade on assumption.

* Know how to control your emotions: it's very important that you know how to control your emotions like fear and greed in trading.

* Know how to manage your risk: knowledge and emotional control gives you money, but proper risk management skill protect your money and your gains

most mistakes of traders are;

* Thinking it's a get rich quick scheme or thinking that it's easy.

* Having no proper training in the craft to attain knowledge about it.

* Watching one two or three video's on YouTube by one YouTube influencer and think they are ready for it or thinking they have known the craft.

* Having no experience traders that is good in the craft to guide them.

I agree with you but the biggest mistake that happens is impatience. When coins comes down, they become very penic and they easily sell it in their hands, which is very big and very deceptive, so this thing should be avoided and this training too. They do not take from anyone, that is, even if he is a trainer, he is a cheap person who is harmed.

[ShowOff]

most mistakes of traders are;

* Thinking it's a get rich quick scheme or thinking that it's easy.

* Having no proper training in the craft to attain knowledge about it.

* Watching one two or three video's on YouTube by one YouTube influencer and think they are ready for it or thinking they have known the craft.

* Having no experience traders that is good in the craft to guide them.

These mistakes often occur in people who are still beginners in trade. It could be because they have not been trading for a long time so the mistake of thinking that trading is a surefire way to become rich or a quick scheme of rich.

Do not have more knowledge because it does not attend training can still be done in other ways as long as he is willing to spend hours to read trading material on the internet and watch YouTube videos every day if choosing to follow the right training requires a large fee.

After reading and hearing the explanation through the video, willing to practice it in a small amount and ready to lose. This can be a solution to control trade if done consistently for beginners. If traders who have been trading for a long time, the mind about trade is a quick scheme in my opinion no longer applies. If there is, it is not worthy of being called a professional trader but still as a beginner.

All the points above seem to be common mistakes that most beginners make rather than experienced traders. The wrong mindset on trading will not protect them from losses, meaning they are likely to lose money instead of getting returns. There have been too many traders who have lost to be used as evidence or lessons, of course trading skills greatly influence the success or failure of a trader.

Apart from knowledge, honing skills is also necessary. There is no trader without losses, there is no successful person without ever failing, they have all experienced it. However, what makes them successful and better is that they continue to hone their skills and correct their mistakes. That is the most important thing that turns everything around for the better.

[Natalim]

Well, despite knowing everything about trading, we can't make it perfectly, and losses still going to happen. With the unpredictable situation of the market, many traders find it difficult to put their buy/sell orders which affects their mindset and courage to continue.

With all the tips and reasons that have been mentioned OP, it is quite to say that most traders have found it hard to control their emotions. A common reason for their failure and I can't deny that was also my problem even until now. If we are into trading, this is what we have to master to control in order to succeed.

[Mpamaegbu]

* Knowledge: know the craft, know what you are doing, don't trade on assumption...

* Thinking it's a get rich quick scheme or thinking that it's easy.

For me, those two items are the chiefest (principal reason) why people fail at trading. Lack of trading skills and greed are bad combinations. Those who go to college and study for a few years to obtain a certificate but won't give a few years too to horning their skill sets once it comes to trading, believing it's an all comers affairs will always fail at it. It's the same thing greed does. Some people erroneously believe with trading one can pluck cash in midair, aiming for unrealistic profit margin with little capital. That's a recipe for disaster.

[milewilda]

most mistakes of traders are;

* Thinking it's a get rich quick scheme or thinking that it's easy.

* Having no proper training in the craft to attain knowledge about it.

* Watching one two or three video's on YouTube by one YouTube influencer and think they are ready for it or thinking they have known the craft.

* Having no experience traders that is good in the craft to guide them.

These mistakes often occur in people who are still beginners in trade. It could be because they have not been trading for a long time so the mistake of thinking that trading is a surefire way to become rich or a quick scheme of rich.

Do not have more knowledge because it does not attend training can still be done in other ways as long as he is willing to spend hours to read trading material on the internet and watch YouTube videos every day if choosing to follow the right training requires a large fee.

After reading and hearing the explanation through the video, willing to practice it in a small amount and ready to lose. This can be a solution to control trade if done consistently for beginners. If traders who have been trading for a long time, the mind about trade is a quick scheme in my opinion no longer applies. If there is, it is not worthy of being called a professional trader but still as a beginner.

All the points above seem to be common mistakes that most beginners make rather than experienced traders. The wrong mindset on trading will not protect them from losses, meaning they are likely to lose money instead of getting returns. There have been too many traders who have lost to be used as evidence or lessons, of course trading skills greatly influence the success or failure of a trader.

Apart from knowledge, honing skills is also necessary. There is no trader without losses, there is no successful person without ever failing, they have all experienced it. However, what makes them successful and better is that they continue to hone their skills and correct their mistakes. That is the most important thing that turns everything around for the better.

When it comes to mistakes then it is really the best teacher and this is something inevitable and these are indeed the most common things that we would really be able to encounter on the time that we do start trading.

This is why it would be best that you should really know on what you should gonna do, dont aim for something unrealistic and dont make yourself that being hasty when it comes to decisions.
You would really be finding out yourself on such big trouble if you cant really be able to cope up with those stress and anxiety on dealing up with trading. Put up into your mind
that this isnt a skill that could be learn up overnight.This is why it would really be that best that you should really learn to adapt.

This is why it would be always best that you should really know on how to make yourself having that kind of adjustments on whatever circumstances that you might be able to face on.

[DVlog]

Because of greed in most cases. When someone sees they made a 30% return their greed tells them it will go 100% because another token recently made a similar rally. This is not impossible for a project to achieve but this sentiment should not be based on emotion but on fact and news. Also, there is a saying in the financial market and that is to buy the rumors and sell the news. So if there was a rumor about any major event and you are planning to buy it after the news has been released then you should not because the market already pushes the price because of the rumors and people will sell off after the release of the news. So you will only be their exit liquidity in that time.

[Out of mind]

Most of the newbies accept trading as a get-rich-quick scheme, but it is never actually possible and it is a completely wrong decision. When a person thinks of trading, he only thinks positive thoughts to get rich, but before he thinks of such thoughts, he must also think of negative thoughts. Trading is a risky venture where there is no possibility of losing money. When you go to the market for trading, it is certain that you will suffer losses due to the volatility of the market. Anytime your money can go down due to market volatility, you should not get emotional but hold on patiently. But I think investment is more profitable than training because if you invest for a long time it will get a good result in future, but this is not the case in trading.

[God bless u]

Practicing and gaining experience in trading is the most important thing in my opinion. Compared to watching YouTube, where in fact there are many influencers whose explanations and materials are not necessarily credible, it is better to increase your trading literacy and practice using demos. Many exchanges provide demo trading facilities. And do a real backtest once in the market with minimal funds so that experience and strategies are well formed.

In addition to that, if the person does more trading, he learns what he is, but the most important thing is luck, if the person has more luck then he can get profit.

Because sometimes you see that many who are professional traders that they also lose, the main reason is that some of them have bad luck. They invest, but when the market falls, then they will in loss.

[abel1337]

Most of the newbies accept trading as a get-rich-quick scheme, but it is never actually possible and it is a completely wrong decision. When a person thinks of trading, he only thinks positive thoughts to get rich, but before he thinks of such thoughts, he must also think of negative thoughts. Trading is a risky venture where there is no possibility of losing money. When you go to the market for trading, it is certain that you will suffer losses due to the volatility of the market. Anytime your money can go down due to market volatility, you should not get emotional but hold on patiently. But I think investment is more profitable than training because if you invest for a long time it will get a good result in future, but this is not the case in trading.

That was their mindset until they had tried trading. It's easy to assume that executing a trade is easy, buy low sell high, easy right? But the truth is there are other things that traders are doing before they achieve a successful trades. Research, technical and fundamental analysis are things that traders are commonly doing because it is proven that it can increase the chance of winning a trade. Most newbies doesn't know this as they only think that trading cost not that much effort.

Depending on how you see it, investing might be easier than trading. Though it will cost you time before your investment make a profit.

[Odohu]

most mistakes of traders are;
* Having no proper training in the craft to attain knowledge about it.

* Having no experience traders that is good in the craft to guide them.

Not everyone has an access to this so in a way it's not really a mistake on the newbie trader side, some people just started trading and they just gained their own experience through continuous losses and gains and even if they try and find a school that does this exact thing, they're going to get nothing out of that because the market is volatile and they might not even use a lot of the stuff that they've learned in that school when the actual trading happens, mentors are expensive especially if you don't have a connection.

I agree with you Blackhawk because I see some equivocations in his submission even though the entire post is a great one. The first point is a little not clear, maybe the choice of words made it complicated because I don't under how "no proper training in the craft" differs from "attain knowledge". Furthermore, having knowledge is not just enough to succeed in trading as knowledge is just one aspect of it. There are other important things like emotions, personal dreams, challenges and targets that can all play key role in trade execution. Managing these is as important as acquiring technical and fundamental knowledge.

I used to advise people that trading is a long time investment that requires time and resources just like the formal education that is stratified to enable the individual be fully developed. Where traders start having problem is when they expect to become rich within few months of starting their trading career whereas they spent over half a decade in their conventional education yet still not living the life of their dreams. My parting word to young traders is always learn on the process, grow while doing it and give it time.

[Fredomago]

Because of greed in most cases. When someone sees they made a 30% return their greed tells them it will go 100% because another token recently made a similar rally. This is not impossible for a project to achieve but this sentiment should not be based on emotion but on fact and news. Also, there is a saying in the financial market and that is to buy the rumors and sell the news. So if there was a rumor about any major event and you are planning to buy it after the news has been released then you should not because the market already pushes the price because of the rumors and people will sell off after the release of the news. So you will only be their exit liquidity in that time.

As it was been use most of the time so better to ride along, buying the rumors gives you opportunity though there's always a risk behind but what is important is you fully understand the things that you research, buying while rumors are hyping and selling when the news already hot, timing is important and can bring you opportunity if you manage to make it the right way.

But in most cases, greeds always conquer each traders mindsets, thinking that this venue can quickly gives them decent earnings they will push their way even the chance is slim, they are drunk with lust to keep trying when they manage to earn the first time they place their investment, it's a matter of good understanding and knowledge about the venue of investment that you are involve and how you trust your
own DYOR when taking your shot investing with whatever project you decide to support.

[bettercrypto]

Maybe the main problem with something like that is that a trader lacks enough knowledge. And if a trader has enough knowledge, the problem for others is that they cannot control their emotions properly, which causes them to lose trading activity.

And the last thing, in my opinion, is greed, because there are other traders who, even though they see that they have profit, do not make it to exit to profit instead they continue not to sell because they think it will increase even no longer.

[Zoomic]

Maybe the main problem with something like that is that a trader lacks enough knowledge. And if a trader has enough knowledge, the problem for others is that they cannot control their emotions properly, which causes them to lose trading activity.

And the last thing, in my opinion, is greed, because there are other traders who, even though they see that they have profit, do not make it to exit to profit instead they continue not to sell because they think it will increase even no longer.

You know you can have all the knowledge you think is needed to trade effectively and still suffer losses? Trading is not different from other businesses that have the potential of giving you more profits or even a huge losses. These losses are not always caused by the trader's ignorance, greed or miscalculations. These are partly influenced by the market fluctuations, and lack of proper understanding of the fluctuations in the market is the major cause of setbacks for traders.

Being an expert trader or even a Saint does not mean you cannot suffer losses. I am not also saying knowledge is not useful as far as trading is concerned,  definitely knowledge is needed to help you strategize and prevent losses. Trading is a very high risk investment, therefore constant practice is needed to scale through the market.

[tvplus006]

...Trading is not different from other businesses that have the potential of giving you more profits or even a huge losses. ..

I cannot agree with you, since it is impossible to compare ordinary business with cryptocurrency trading, which is inherently very volatile. In a real business, you can reinsure your losses, but such loss insurance does not exist in the cryptocurrency market. And these are not the only differences...

[Russlenat]

Simply, people fail in trading because they are not good enough. Even if we say they are knowledgeable, but if they also lack in their experience, they will still never work in trading. As much as knowledge should be given high importance, but it’s always skills and strategies, and good experience in the market should be given high emphasis.

Trading is not about who’s smarter or wiser, but it’s all about who’s skillful and experienced. Professional traders may not be smart and wise enough, but their varied experiences in the market make them professional and successful in their own ways.

[FinePoine0]

 Op Achieving trading success requires eliminating the first person, and having the ability to take risks. Usually newbies get greedy for money as soon as they start trading, and end up with huge losses by investing in wrong positions. All those people should find these tips that are really useful in real trading. Take risks and avoid greed, thus having peace of mind is the only way to reap the benefits of training.