Why people mostly fail in trading

[Fara Chan]

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

You have said very right things about trading, because trading does not always work as before or as it has happened before in the market. So every trader really has to strengthen his knowledge and resistance to risk when market conditions start to go the way he didn't want before, so looking at references from YouTube videos for trading matters also won't guarantee that a trader will immediately get better results. Because the video was deliberately uploaded to attract more attention from many people whose profession is traders.

[1714705751]

1714705751

[1714705751]

1714705751

[EarnOnVictor]

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

You have said very right things about trading, because trading does not always work as before or as it has happened before in the market. So every trader really has to strengthen his knowledge and resistance to risk when market conditions start to go the way he didn't want before, so looking at references from YouTube videos for trading matters also won't guarantee that a trader will immediately get better results. Because the video was deliberately uploaded to attract more attention from many people whose profession is traders.

I watch in pity these days trading strategies and results from YouTube and others, they are just capturing the best moment which they can use to cajole people into believing their trading strategy or even use their system. Some could be free, while others could be paid, but in all, they are making sure that their online activities are active, it is the trader that will need to apply wisdom. But it is not all the strategies and approaches towards trading that are bad,  only that they may not not as good as they claim they are, but trading needs more than what they are teaching people, while many of the ways they are even teaching are not supposed to be so. Nonetheless, it is still a plus that they will eventually introduce the trader to something and that is fine, it is now left to the person to practice what they introduced whether or not they will work and to continue learning as trading needs much of learning and I do not think there is a stop to it, ever.

In addition, trading is a survival of the fittest and traders should know that they can't get it all done in a single day. It needs patience and the perseverance of the trader, and this must be worth it if the trader is learning continuously. That is the only way improvements can happen. I also urge all traders who are still searching for a trading strategy to be sure that they have good management and plans, they should not leave themselves to emotion, a good trading psychology will also help the strategy you know to work. It is not all about the strategy alone, the way the trader uses it matters too.

[Adbitco]

People needs mentorship for them to excel in trading what they mostly do nowadays instead of them getting to attached themselves with people who knows what the real deal is with trading they will go search some random youtube influencers who don't go into details with their trading guide, even those who claimed to have been an expert in trading also lose money but they won't come to air how much they have lost rather will be post little tips on youtube to build their youtube followers by the time they noticed they've gain lots of followers they began to make money through their youtube channel and totally forget about trading.

[doomloop]

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.

Self-learning is a thing, and people need to understand this. You can't expect other people to spoon-feed you every single thing, they might give you a general idea about that thing, and the rest is your responsibility. Do research, read material, watch videos, and do every other thing required to gain the knowledge necessary for the craft, so that you get completely ready before you get into it.

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

As I said above, one shouldn't wait for someone else to train them and then they will make a move, the world of the internet is full of knowledge, it's up to you whether you want to get knowledge or not. It's not difficult to learn something if you have an interest in it, no matter what it is.

[Fredomago]

A wrong understanding of trading makes traders lose as they think that they can dictate the market and underestimate the volatility. There is pressure in trading which means not all can carry with it and give up. Many had failed and only a few became successful and whatever the reason could be.

 - lack of knowledge
 - wrong market approach
 - ineffective strategies
 - losing control of emotions

A lot of factors to consider and it all lies on the trader itself as they know what really happened to them. I can't call myself a successful one but I know that I can make my trade more profitable in the future --I'm still in the learning stage.

Yes indeed,  there are many factors that affects each traders who are trying to be successful in this venue of business,  like those mentioned examples that you provide, each of them have a weight from your decision making,  having that right balance and continously doing progress can help you  to create  good strategy and follow better process to execute your own created system.  Knowing the fundamentals and having a good grasp of what are the possibilities can help you to keep improving your trading capabilities.

It's on your own desire to succeed and how you'll going to try finding the right sets of information to keep moving forward,  those who failed to understand how the market works and what are those factors who affects the movements will continually failed with their trading participation.

[synchronym]

We need to have enough knowledge about trading. If we don't have enough knowledge about trading then we can't move forward. Before trading we must control our emotions by checking the market and then we move forward. Trading Many times we make decisions based on emotions. If we train with emotion then we will face most of the losses so we must always control our emotions. We must face the volatility of our market while trading. We must be patient and control emotions and trade.

[stadus]

I’d always go into lack of knowledge and education. People resort into trading thinking that’s it’s a quick way to earn a living without putting extra efforts and time, and end up losing all their funds. That’s why once you decide to trade or invest, it’s crucial to establish first even basic knowledge, because if you’re knowledgeable you will know how to instill discipline and control on your emotions, and you will know that trading without sufficient budget will always lead to possible losses. While trading requires sufficient amount of capital, but it’s also important to only trade on the amount that you can afford to lose.

[jossiel]

* 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.

That's true.

Having to watch some YouTube influencers that they've shown them their winning trades and thought that if it happened to them, they can manage to win as well those trades.

Little did they know that those trades they've made were conducted in futures and as they thought it is an easy thing. They're wrong on that assumption and instead that they've made profit, they've just gained losses.

[Issa56]

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

This is the first mistake most of the newbies entering the crypto space are making. They just think that if they can start trading, then they will be able to make a good profit instantly, maybe they will be able to double their money within a few days, but some people do follow what some signal providers post on their social media's. When you see those signal providers make advertisements, you will think you will never lose money when trading, and within a few days you will be rich. They will make you think trading is so easy, and if you use their signals, you will never lose.

* 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.

Some traders do fail because they don’t even care to take their time to learn about trading. They think trading is so easy, and you can easily jump into trading and start making money, but let’s be honest, trading is kind of difficult, and you have to be dedicated if you want to learn and make money from trading.
 
Some beginners are deceived by the videos they see on YouTube, they believe trading is just like that, and they don’t know most of the videos posted on YouTube are posted for their own selfish interests. That’s why most of the videos you will see on YouTube talk only about when they are making profits, and you will never see them post when they are losing, only a few of them are doing that. People who post on YouTube are just looking for money.

[Franctoshi]

Indiscipline; actually trading needs a discipline mind to succeed, a lot are gambling in the market in the name of trading, once you don't discipline yourself and follow rules, definitively trading will discipline you, aside this there are couple other things that contributes to why plenty of people lose money in the market, things such as impatient, greediness and approaching the market without a strategy, many traders don't have trading plans of how they will go into the market, that's entry and exiting strategy.

[Xampeuu]

Indiscipline; actually trading needs a discipline mind to succeed, a lot are gambling in the market in the name of trading, once you don't discipline yourself and follow rules, definitively trading will discipline you, aside this there are couple other things that contributes to why plenty of people lose money in the market, things such as impatient, greediness and approaching the market without a strategy, many traders don't have trading plans of how they will go into the market, that's entry and exiting strategy.

Knowledge and experience are two complex things that can determine the success of a trader. the most important thing is knowledge, in theory we have to master it, and the second is practice, where it is not as easy as in theory to put a transaction into practice, because there will be many obstacles faced, and of course from that experience we will develop things that can lead us to become pro traders

[wxa7115]

Indiscipline; actually trading needs a discipline mind to succeed, a lot are gambling in the market in the name of trading, once you don't discipline yourself and follow rules, definitively trading will discipline you, aside this there are couple other things that contributes to why plenty of people lose money in the market, things such as impatient, greediness and approaching the market without a strategy, many traders don't have trading plans of how they will go into the market, that's entry and exiting strategy.

Laziness is one of the key reasons why people keep failing at trading, because when you really stop to think about it, any flaw that a trader may have can be improved upon as long as they are willing to work hard towards that objective.

But if a person is too lazy and too set on their ways to change, it is safe to conclude that they will never improve their trading skills, and sooner or later they will fail to reach their goal to become a profitable trader, as they are unwilling to make any effort to learn.

[KingsDen]

I’d always go into lack of knowledge and education. People resort into trading thinking that’s it’s a quick way to earn a living without putting extra efforts and time, and end up losing all their funds. That’s why once you decide to trade or invest, it’s crucial to establish first even basic knowledge, because if you’re knowledgeable you will know how to instill discipline and control on your emotions, and you will know that trading without sufficient budget will always lead to possible losses. While trading requires sufficient amount of capital, but it’s also important to only trade on the amount that you can afford to lose.

Actually, trading is a passive way to earn without much stress, but it demands concentration and vast knowledge and understanding of both technical and fundamental analysis. It is because many people do not have the patience to learn and understand the process of trading before diving in, that is why losses are inevitable. In the other hand, people might posses the knowledge of trading but in the other hand, they might have the emotional and financial control to succeed in the trading market.

Indiscipline; actually trading needs a discipline mind to succeed, a lot are gambling in the market in the name of trading, once you don't discipline yourself and follow rules, definitively trading will discipline you, aside this there are couple other things that contributes to why plenty of people lose money in the market, things such as impatient, greediness and approaching the market without a strategy, many traders don't have trading plans of how they will go into the market, that's entry and exiting strategy.

I love what you said. There are alot of gambling in the market in the name of trading. Any trader who does not know the chart, the technical and fundamental analysis, and yet the trader is in the market trading, it is nice to say that the person is gambling. It is because of many gamblers that makes the trading market to be more risky than it is.

[R100K-Martin-Lunger]

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.

Absolutely, emotions like greed and overconfidence can indeed be significant obstacles in trading. Implementing risk management strategies is key to keeping emotions in check. Taking partial profits, setting stop losses, and being flexible with profit targets are all smart practices. Having a plan and sticking to it within set parameters is crucial. It helps maintain discipline and reduces emotional decision-making. For more on developing and adhering to a solid trading plan, I recommend checking out thsi blog on Crypto Trading Strategies (https://r100k.com/blog/crypto-trading-strategies-2024). This article provides valuable insights into creating a structured approach to trading that can help manage emotions and enhance decision-making.

[Miles2006]

Sometimes it don't necessary have to do with knowledge when people trade and fail, even with the knowledge people still fail, there's no such name as an expert when dealing with trading or market predictions. The resources matters too and without the resources no one can trade, to acquire the knowledge you mentioned you need money to learn about trading. I think we should combine patience, resources, knowledge when talking about trading.
There's nothing bad watching an online video tutorial about trading cause sometimes I watch some random videos too but the mistake people make when watching these videos they feel they've acquire the knowledge and they're good to go, very funny. Those videos and influencers can't give 100% guarantee about trading knowledge.

[tvplus006]

The main mistake of a beginner is that he starts trading without having sufficient knowledge for this. But even without sufficient experience, this knowledge is also useless. Thus, a vicious circle is formed when knowledge and experience are needed for successful trading, but at the same time a beginner always lacks experience.

[TheUltraElite]

The main mistake of a beginner is that he starts trading without having sufficient knowledge for this. But even without sufficient experience, this knowledge is also useless. Thus, a vicious circle is formed when knowledge and experience are needed for successful trading, but at the same time a beginner always lacks experience.

This vicious cycle can be broken or prevented by dummy trading and it one thing that budding traders should attempt before moving to their real game. Trading is not for everyone and identifying this necessary to prevent huge losses in the future. Gaining the knowledge and preparing the proper mindset to be able to gamble without a tick needs practice and calmness that is often inherent or acquired.

Beginners are called so because they lack experience, gaining it is through practice and observation. Dummy trading is a good way to start that and to practice keeping patience.

[Viscore]

People needs mentorship for them to excel in trading what they mostly do nowadays instead of them getting to attached themselves with people who knows what the real deal is with trading they will go search some random youtube influencers who don't go into details with their trading guide, even those who claimed to have been an expert in trading also lose money but they won't come to air how much they have lost rather will be post little tips on youtube to build their youtube followers by the time they noticed they've gain lots of followers they began to make money through their youtube channel and totally forget about trading.

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.

[aylabadia05]

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.

[the rise]

Trading skills are really needed, not just charts, there is a lot to learn, and I really agree that the biggest mistake beginners make is
"by trading we will get rich quickly", this is the initial thought of beginners so they are interested in trading without any knowledge, even professional traders will still suffer losses but they can reverse positions slowly