Why people mostly fail in trading

[Barikui1]

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.

[1714311262]

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[1714311262]

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[blckhawk]

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.

[MIner1448]

Training and continuous improvement of skills are key elements of successful trading. Emotional control, especially in times of market instability, helps avoid decisions based on fear or greed, which can lead to undesirable consequences. Very often, people cannot overcome their emotions on the stock exchange, which leads to the loss of their savings.

[kentrolla]

I agree with these funds but the most important thing is the patience and directly jumping into trading without rehearsal in the demo account.  

What we learn in any training and theory doesn't make us expert as we have to do case studies based on various technical indicators and also the common mistakes people make is they just follow some channels which provides signals and blindly go by it or else they just assume that if a coin has dropped it will rise back which is not the case with altcoins, I have seen people in investing and trading USTC, FTT and LUNA which they were dying as they assumed they would get huge profits if the price goes back to normal.

People should understand it's absolutely fine to not earn profit if the market is not suitable because new traders don't want to end their day without profit and end up diverting from the basics where they end up losing.

[FatFork]

most mistakes of traders are;

While I agree with the mentioned mistakes that often contribute to trader failures, but I think overconfidence is a big one too that not everyone talks about.  What happens is you have some wins early on and suddenly you think you're the next wolf of wall street.  You throw risk management out the window and go all in on crazy trades and  before you know it the house of cards comes crashing down.

From my own experience, staying humble is so key in this game.  You gotta accept that you'll mess up sometimes.  Trading is a skill that takes years to build. It's a marathon, not a sprint. Anybody who thinks they've mastered it overnight is in for a rude awakening.

[traderethereum]

Greed can come to traders when they see the profit but do not immediately close the trade because they hope for an even bigger profit. They will only experience small losses or profits because they delay closing their trades.

That is what many traders often experience. I remember some of my friends during the altcoin market last season. They should have succeeded in making huge profits but because they were greedy by continuing to hold onto their coins, they lost the opportunity to take advantage.
Some friends sell their coins too quickly because they don't think the price can increase.

[Assface16678]

most mistakes of traders are;
* Thinking it's a get rich quick scheme or thinking that it's easy.

Exactly but lets not blame the beginners, or lets understand them because some got hyped by those influencers or advertising about trading flexing their luxurious life because of trading which will really attract many people that is hoping for a good income, who doesn't want to have an extra income right?

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

Like you've said they will hope for an earning right away, abandoning the learning and honing the skills and experience, which is a common mistake of almost new beginners in trading.

* 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.

Its not bad to watch videos in YouTube to learn about trading what is bad is being contented in only a few videos without thinking that trading is a continuous learning and honing skills and development because market is unpredictable so everyday the market could change so a trader should always be prepared and ready to adopt.

[Kelward]

* 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.

Newbies must understand that trading is hard and it's not something that someone can rush into because he heard the story of how crypto traders sit opposite a laptop and are making too much money, or one random YouTuber giving them a 48 hours lecture on how to trade cryptocurrency and become financially independent. So one of the best ways to start as a trader, as you pointed out is have an experienced trader to guide you to understanding the fundamentals and the technical analysis of trading, understand important tips too, like some that you mentioned.

As a newbie, after learning the basics of trading, it's best to start the journey with demo trading for sometime, and when they feel that they're ready for the main business, newbies must remember to start trading with the amount that they can afford to loose. This will help them to minimize loses which is bound to occur, because despite your understanding and predictions of the market that gives you profit, you can still encounter loses,

[SquirrelJulietGarden]

Trading is not a get rich quick scheme as most newbie think

Newbies should not consider trading as a quick rich tool because trading is never like this.

It's more difficult that we all can imagine

It is nearly nightmare waiting if anyone starts something by imagination without anything more than sitting down and using brain to imagine about bright future, rosy adventure.

The skills I  believe that are  required to come out profitable in trading are;

You only can share about it after you experienced it, a lot and got both losses and profit.

Newbies Stop teaching when you need to learn.

[naira]

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 will not deny all the points you make and it is true that the facts are like that. Especially in the process of gathering information or basic knowledge that beginners often skip and look for instant options by watching 2 to 3 videos and then deciding to jump into crypto trading accompanied by the ambition to get rich quickly. After they guess 5 to 10 successful trades then generalize that crypto trading is easy for them to control. But with every method of guessing there will be times when you are faced with the wrong trade, without having a plan, without limiting losses and the coins/tokens purchased do not provide a reversal. Get sucked in by the influencer game whose only goal is to trap newbies.

[lombok]

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.

[gabbie2010]

Training and continuous improvement of skills are key elements of successful trading. Emotional control, especially in times of market instability, helps avoid decisions based on fear or greed, which can lead to undesirable consequences. Very often, people cannot overcome their emotions on the stock exchange, which leads to the loss of their savings.

Yes learning the necessary skills consistently would led to improvement in how to trade, however this comes with a lot of sacrifices in term of period of time, discipline, persevere, backtesting of trading strategies etc, it's a pity newbies in trading don't want to pass through any learning period and curve all they want is to fund their account and start trading with limited knowledge and some basic idea of trading, many of them are also having a mindset of getting rich quickly through trading as seeing profitable results of some experience traders online, it's took a lot of years of personal sacrifices and efforts before those  profitable traders became successful traders.

[knowngunman]

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

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.

The truth about this trading of a thing is that most traders are feeling bossy after knowing the basics of trading thinking that is all that matters. Most of them think they understand the market but in reality, they don't have a good understanding of it. Training is actually necessary and part of requirement to become a successful trader but it is not enough to tell you how market works. To become successful in trading, one needs to have a deep understanding of technical analysis because that's the most important aspect of trading. With your constant training, if you don't understand the technical aspects of trading, it would be very difficult for you to earn profit in trading.

On the aspect of emotion, as important as it in trading, it's easier said than done because even well known experts still struggle to fight emotion sometimes. Although, it can be learned over time but very difficult to handle. However, the easiest way to learn how to control your emotions is by practice. The more you engage in trading, the more you'll be learning how to control your emotions.

[Dimitri94]

One of the mistakes we see most new traders make is that the trader cannot control his emotions. After an asset makes a big pump, some traders invest in it with the intention of getting more money out of it, which is a big foolishness'. But there's no denying the big pumps the market makes sometimes. But for those who are new or have less investment it will be difficult to take such a big risk. A trader must have a good decision about how much assets he has and how much he will invest.

Traders must remember that trading is not a get-rich scheme. Chances of losing money are high for those who opt for get-rich-quick trading. But if one manages his trading activities patiently after acquiring enough knowledge then he can get good money from trading. Although trading seems very simple to many, there are many technical issues associated with it.

[pusaka]

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.

They only see what is produced by professional traders without seeing what the process has gone through. If they see the results obtained by others then it will clearly create thoughts in their brains that trading is easy and can be a way for them to quickly get rich. Not to mention they see influncer influencers who only show profits, I'm sure most of them have never seen how someone lost money because of the trading they did.
Trading is not as easy as it seems, without thorough knowledge, they will lose money in a matter of a few seconds. Indeed, when someone is too eager to make money quickly, they will lose logical thinking.

[snowpega]

<snip>

There are many reasons why people mostly fail in trading.

• Due to a lack of knowledge
• They fell prey to FOMO
• Don't have patience
• They made impulsive decisions
• They don't have good strategies for trading
• they invest in shit projects
• they don't know how to do TA and FA
• They follow wrong signals from Groups

and many more, failing in trading depends on many factors

[Sanitough]

Traders mostly fail in their trades, simply because they are not equipped with trading knowledge and skills, but due to high greed for money, they jump into trading even if they know in theirselves that they’re not ready to manage its risks. However, failure won’t be a complete failure if you never stop from trading, that’s why a lot of traders these days though they’re not actually profitable, but they are working on it to reduce their losses and encourage winning trades. Patience and emotional balance and control are certainly the keys.

[EL MOHA]

The truth about this trading of a thing is that most traders are feeling bossy after knowing the basics of trading thinking that is all that matters. Most of them think they understand the market but in reality, they don't have a good understanding of it. Training is actually necessary and part of requirement to become a successful trader but it is not enough to tell you how market works. To become successful in trading, one needs to have a deep understanding of technical analysis because that's the most important aspect of trading. With your constant training, if you don't understand the technical aspects of trading, it would be very difficult for you to earn profit in trading.

One thing is no trader will actually not feel like a pro after beginning to get some profits after training, this is a natural thing as everyone expected to celebrate wins but the problem is not expertizing or broaden your knowledge by gong for more research and trying to perfect your own strategy. Training is sometimes essential just to under some one strategy so you can combine it with us but it is not yard stick yet to call your self a successful trader, many people do not under go this training but with time and constant practice they later become one, so the difference in all of this is practice. Technical analysis like study of candle stick, time frame to enter a trade or more can be thought but you need to practice and find your own strategy and sadly that’s what many traders who go to training lacks and at the end of the day they start to lose and get emotional.

On the aspect of emotion, as important as it in trading, it's easier said than done because even well known experts still struggle to fight emotion sometimes. Although, it can be learned over time but very difficult to handle. However, the easiest way to learn how to control your emotions is by practice. The more you engage in trading, the more you'll be learning how to control your emotions.

Emotions is one big thing that one cannot control easily most especially if someone is driven by greed or over confidence. This two things are what actually results in many traders losing. The way to cure a emotional in trading is just to learn risk management and this way your emotions limits you to getting into difficulties. Some of these attributes are taking of some profit while a trade is going on, set Stop loss and you do not necessarily have to hit Profit target before closing some trades if you notice something wrong, don’t be overconfident or overwhelmed. All this will reduce loss and be able to control one’s emotions. Because losses and greed are primarily what bring emotions into trading

[Xxmodded]

All your points are trues about mostly trader failed in trading, some of them have wrong mindset get rich quick scheme when investing their money in bitcoin and cryptocurrency. I think wrong mindset have set up when trading in cryptocurrency and start right motivation in trading can't guarantee profit every time. Losses emotion controlling could be fail in trading exactly some trader more faith with their coin trading get potential will raise to higher price more until going down and loss their capital in trading.
You miss with important points about patience when trading exactly face bad news or FUD, I don't sure all trader are calm when facing bad news because many of them panic for selling their cryptocurrency assets investment when price going dump.

[Natsuu]

Trading isn't a quick way to get rich because it's tougher than it seems. Success lies in knowing the craft, controlling emotions  and managing risks you can afford. Mistakes often come from thinking it's easy or relying on a couple of YouTube video so we should always verify our facts and do not always be impuslive in making decisions