Don't do this mistakes in trading

[Humblevirus]

2. Greed

It is very important that we avoid being like this or having it. If words like 2% per month profit is okay, then we will say that it is not possible. I want 100% per week; these are just examples. Especially when we see someone who takes a profit of 100% per week, that's okay; it's just that the risk is too high. And it doesn't always happen like that; as long as our goal is "sustainability," we don't just rely on luck or maybe get lucky. Of course, we don't just want luck; instead, we want to have a monthly profit or passive income.

You mentioned greed, and you are talking about something different. However, greed is what is affecting many traders. Let me tell you one thing: some traders like competition, which is why most of them keep losing. Once they see one of their colleagues making it from the market, they try harder to get the same thing, and the strategy and knowledge are not the same thing. The risk is too high, and not all of them have the knowledge to manage the risk. Some of them cannot control their emotions, while others' greed is what pushes them to enter the market. 

So as you said, it is unfortunate and it is hard to see traders making 100% profit every week in trading. Whatever kind of knowledge and strategy you use, you must lose, which is natural in trading. Professional traders also lose in trading, so it is common that people lose in trading, but the problem with some traders is that the result of losing is too much. However, in trading, I dont think it is luck if trader makes a profit. I think it is his knowledge that helped me to get that.

[1714566247]

1714566247

[1714566247]

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[Spaceman1000$]

No matter how many discussions talk about "common trading mistakes" this still won't change everyone. Because what I observed is the more we talk about this, the more newbies fall into committing mistakes. Honestly, it is difficult to change someone who already fell in love with money because even if they know greediness is wrong still it lives in their mind. And no matter how many times they suffer losses, that won't change their behavior. Maybe, just maybe, if they stay cool this time but can't ensure they remain cool for a long time.

We fail trading, not because of the lack of knowledge but it is due to our wrong actions and approaches.

Talking about greed all of the time doesn't mean people will no longer fall for it, of course people must fall except there are no trades anymore but in as much as trades are made a portion of traders must fall into trade victims of greed. Everyone must not win their trades, an error must set in either by an act of greed or something else otherwise we won't have course to be treating the discussion all of the time.

Humans we are wired to seek for more after initial target has been attained and that insatiable nature is what create that greed in us while we trade and when a trader lack a conscious control of that innate inclination for more in his trading life you see he keeps making more losses than profits. Even in times he should make profit greed set in to take more and from taking more a collateral loss is incurred. Everyone of us has greed it is how we manage it that matters.

I understand your point, but the truth is that, people still need to be reminded about their greed when trading because while trading most persons try to get mixed feelings of wanting to take a high percent forgetting that the market is highly volatile. So for me the needs to always remind people to be less greedy while trading cannot be overemphasized.
 
I understand trading requires patience and a good trading strategy for which, if well applied can make beginners get more profit which in turn will reduce their level of greed. However, Human errors are bound to happen and this is mostly at the beginning stage, but can be corrected at the long run.

[Out of mind]

People basically lose their money most of the time when they become greedy. I have seen many traders only think about their profits when they start making profits, and then they become much more attractive. And the businessmen who fall among such people are the losers and face great problems. In trading, we should not only plan for our profit but also keep in mind that there is loss here and this is also a matter of concern. If you want to trade, you must analyze both positive and negative aspects, otherwise it is never possible to survive in the market. So before starting trading you must control your emotions and greed otherwise it is never possible to succeed and always plan properly, but profit can be achieved.

[Dr.Osh]

It seems like these two things are the things that most often make people fail in trading. Even though this is a common thing and is even known to many trading players, it is still one of the main factors that causes someone to experience losses in trading.
However, this needs to be used and forced. Sometimes, we have made a profit from the trading results we have, but because of greed, we persist until we finally miss the opportunity. What's worse is, there are people out there who feel confident they can make a profit from trading without risk, so they use their main money. Well, the thing that needs to be emphasized is that trading is a way of making money that carries risks. So, never use the main money you have.

[bettercrypto]

No matter how many discussions talk about "common trading mistakes" this still won't change everyone. Because what I observed is the more we talk about this, the more newbies fall into committing mistakes. Honestly, it is difficult to change someone who already fell in love with money because even if they know greediness is wrong still it lives in their mind. And no matter how many times they suffer losses, that won't change their behavior. Maybe, just maybe, if they stay cool this time but can't ensure they remain cool for a long time.

We fail trading, not because of the lack of knowledge but it is due to our wrong actions and approaches.

Talking about greed all of the time doesn't mean people will no longer fall for it, of course people must fall except there are no trades anymore but in as much as trades are made a portion of traders must fall into trade victims of greed. Everyone must not win their trades, an error must set in either by an act of greed or something else otherwise we won't have course to be treating the discussion all of the time.

Humans we are wired to seek for more after initial target has been attained and that insatiable nature is what create that greed in us while we trade and when a trader lack a conscious control of that innate inclination for more in his trading life you see he keeps making more losses than profits. Even in times he should make profit greed set in to take more and from taking more a collateral loss is incurred. Everyone of us has greed it is how we manage it that matters.

You know not all people have greed; instead, greed is always there by our side. It's up to us if we let it continue in our thoughts or personalities if we want it to control us.

That's why our number one enemy is ourselves. Once we don't let it enter our thoughts, we are in control, but once it enters our thoughts, our mind and conscience will fight.
Now, let's choose what will control the result of our decision.

[boty]

Talking about greed all of the time doesn't mean people will no longer fall for it, of course people must fall except there are no trades anymore but in as much as trades are made a portion of traders must fall into trade victims of greed. Everyone must not win their trades, an error must set in either by an act of greed or something else otherwise we won't have course to be treating the discussion all of the time.

Humans we are wired to seek for more after initial target has been attained and that insatiable nature is what create that greed in us while we trade and when a trader lack a conscious control of that innate inclination for more in his trading life you see he keeps making more losses than profits. Even in times he should make profit greed set in to take more and from taking more a collateral loss is incurred. Everyone of us has greed it is how we manage it that matters.

You know not all people have greed; instead, greed is always there by our side. It's up to us if we let it continue in our thoughts or personalities if we want it to control us.

That's why our number one enemy is ourselves. Once we don't let it enter our thoughts, we are in control, but once it enters our thoughts, our mind and conscience will fight.
Now, let's choose what will control the result of our decision.

To be able to control ourselves of course this really depends on our personality, if we can manage our greed we will of course be able to properly analyze the trades we make and be able to make the right decisions on the trades we make.
It is true, only we ourselves can control ourselves and it is impossible for other people to advise us about the greed that is within us and to be able to fight greed we must be very calm in making decisions and never do it in a hurry which makes us wrong. in making decisions that result in losses.

[Finestream]

It seems like these two things are the things that most often make people fail in trading. Even though this is a common thing and is even known to many trading players, it is still one of the main factors that causes someone to experience losses in trading.
However, this needs to be used and forced. Sometimes, we have made a profit from the trading results we have, but because of greed, we persist until we finally miss the opportunity. What's worse is, there are people out there who feel confident they can make a profit from trading without risk, so they use their main money. Well, the thing that needs to be emphasized is that trading is a way of making money that carries risks. So, never use the main money you have.

Greed and trading on that amount you can’t afford to lose are certainly the worst reasons that will make us fail in trading. But still, a lot of traders are still doing this way, because of their high greed and because of their high confidence that they will eventually make good returns in trading when in reality, these are the barriers that that block them to gain successful trading. Also, having no strategy in trading is a big factor why someone consistently lose from his trades. If he has no strategy, then most probably he is like gambling and not trading in the first place.

[Alpha Marine]

1. Trading money that you can't afford to lose

Trading money that you can afford to lose is bad, but what's worse is trading with money that's not yours which you'd be unable to pay back if you lose. It's just like leverage trading, but worse because here traders take money from different people to invest and give them a profit of their money. This is too risky.
It's a different thing when you lose your money, even if that loss will wreck you than losing someone else's money when you don't have enough to pay back.
This causes a lot of problems for the trader and you might even end up in court if you're not careful.

I know all the sayings of greater risk and greater rewards and all, but we need to calculate our risk properly, or else we'll find ourselves in a lot of trouble. I know people who have lost almost everything because of this.

[Questat]

1. Trading money that you can't afford to lose

Trading money that you can afford to lose is bad, but what's worse is trading with money that's not yours which you'd be unable to pay back if you lose. It's just like leverage trading, but worse because here traders take money from different people to invest and give them a profit of their money. This is too risky.
It's a different thing when you lose your money, even if that loss will wreck you than losing someone else's money when you don't have enough to pay back.
This causes a lot of problems for the trader and you might even end up in court if you're not careful.

I know all the sayings of greater risk and greater rewards and all, but we need to calculate our risk properly, or else we'll find ourselves in a lot of trouble. I know people who have lost almost everything because of this.

Trading is too risky but I don't think these people are not ready to lose their money in the first place before doing this as I was certain that they were already aware of the possible outcomes. I think the point here is that we don't have to spend our money more than the limits. I see this mistake very often in newbies who think that the more the trade, the possibility of earning more. Unfortunately, it never works that way and much more if we are chasing our losses because it never changes at all when we never also change our trading style. A reason why we should practice to limit our time in trading in order to avoid overspending.

[xandriel]

For me, I think the most important thing is to pick some good altcoins first and then just hold onto them. Hold onto them for as long as possible. Take some profit that's enough for your living expenses, but keep holding onto them. I don't believe much in day trading. It's just for fun, for part-time. You can't make daily profit from it, especially as a normal person without information or analytics skills. So, the easy way is just holding.

[Bonny070]

the most problem some traders are facing is being greedy.if you can avoid being greedy you will definitely succeed in trading. yes if the particular coin accelerate that it's a good thing traders. but if the coin have risen to your expectations, if the coin have rise, and you know you not on the lossing side you sell it and make your profit.

[crwth]

Those two things are the most problematic and hard to control if you are just starting. It's definitely important to have that money management/ risk management when you are handling your portfolio. It's going to be a hard thing to recover if you have lost it all and have no control. As long as you see in the long term that you would be able to grow your portfolio, it's not a bad thing to consider.

Don't be greedy as well. It's tempting but it's not a good thing to do.

[knowngunman]

1. Trading money that you can't afford to lose

Often the capital we trade is our only savings; if it doesn't grow, we're done or we're broke, or hopefully it's not what we pay bills for every month like electricity or enrolling in college. Of course, let's never use it in crypto trading. Why? Is it because you will lose? It's not that you will lose, because crypto/bitcoin trading is not just a simple strategy; it's all about emotion, mind tips, and being relaxed, calm, and logical. Because once we put emotions into trading, like, for example, the words "I need to win" or I need this because I need to pay the electricity  bill," there is a big chance that we will lose in trading. Because there is a big chance that greed will hit us here or fear will hit us, these are the things we don't want to happen.

Being a trader, I think this is the first step to begin with. Trading is actually one of the great ways to make potential money in crypto but it comes with conditions. This is why it's necessary to invest what you can afford to lose so in case if things don't go as planned, you won't be swimming in a financial crisis. Your research and experience is not a guarantee of success and there's a possibility of market going against you unexpected that will cost you some or even all your money. You will be devastated if you invest money you can not let go. On the aspect of emotion, it's impossible to trade without emotions absolutely but the only thing you can do is to learn how to control your emotions and not allowing it trigger your decision often to avoid making impulsive decisions against your strategy.

[EarnOnVictor]

We should not make any mistakes when we trade and the two you listed above are just a few out of many that traders make in trading. Of course, the traders who invested the amount they can't afford to lose will surely regret it because not only will they be pained when they lose the money but the money will in addition cause them to be emotional in their trading. This could only mean failure even before the trading has started, so we should avoid it. Our trading psychology must be preserved, but there is no way this will happen when the money we invested is too dear to us, we will only be making mistakes with this and will bring out the most fear in us. The money would be like your last hope and by trying to guard it carefully, you will be making too many viable mistakes. Therefore, it is better to invest the money that can be afforded to be lost. If you wanted to invest the $3,000 that can't be afforded to be lost for example, why not change to it to between $300-$500? By doing so, you would have saved yourself a lot and reduced the tension which would be attached to trading it.

As for greed, it is left to us, and we should always know that the term greed can never be good in any aspect of life and business. However, greed itself is relative in trading, it is not all what people termed greed that is indeed greed. Greed can only be guilty of if one has a trading system and plans but reneges on them due to the belief that if they are set aside, more money would be made.

This will only put such traders in trouble as the system and plans initially prepared to be used are for reasons. They are there to guide our paths to success, why regende in them?

[gunhell16]

Maybe I just want to add something to what OP did, and this is the trading revenge, right? If in gambling we are lucky enough to win, let's say you have 1000$ then won 2000$, then it became 8000$, and you thought you should continue because your brain thought it would be 20,000$, then all of a sudden what you expected happened instead of having 8,000$ that should have been a win or profit, it became ZERO. Now what comes to mind is the word "too bad I should have taken out the 8000 dollars I won earlier." Then you will think like this. You will tell yourself that I will deposit again. You will now reduce your savings. After all, I won 8,000 dollars earlier. Maybe I can make up for it this time.

These thoughts are very dangerous; in fact, others even think to borrow or mortgage just because they think they can get back to gambling. This is what we will never do; this is a type of revenge trading. What happened was that you got $8,000; you should feel that the $8,000 you lost is yours and you are trying to get it back, until you don't notice that it is buried in debt or that the amount you lost in gambling just got bigger. This kind of thing should not be done because the profit in crypto trading, if you get it, you deserve it because you know what you are doing in trading in the crypto space, you have knowledge about in trading business that's you get earn most of the time.

[shawonngp]

Greed, which you have discussed with importance, Greed is very dangerous thing in crypto trading because of it many traders lose everything, I saw some people they are very crazy and want to profit in every day, even try to big profit but end of the day their balance is negative. I believe holding some top coins for long term is batter than such greedy trading.

[Barikui1]

Actually this is not only the reason people lose money, their are more things in trading that makes traders lose money such as;

*high leverage : people mostly lose money due to high leverage, because the higher the leverage, the closer the liquidation price.

*Not having the basic knowledge of support and resistance: most people just venture into the market without even knowing the least support and resistance and how to approach the market if the candle sticks is heading to one.

*Not knowing when to stay off the market: most traders think it's every market they trade, no, not every market you trade, wait only for the right set-up, if it doesn't come, it better you stay off, than to risk your money when you are not sure.

* going after miss opportunity: if you want to be successful in trading, it's very important you don't chase any past opportunity, so that the market don't use you to clear liquidity, or the market collapsing on you.

[|MINER|]

Greed is really very harmful for every trader.  Every trader should control his greed. Because of this greed many traders lose all their money. Because after greed they trade multiple times. And multiple times trades result in loss.  Those traders succumb to the greed and invest in various altcoins and meme coins and become victims of scams. Because many people believe it and accept the scam after seeing the attractive advertisements of altcoins and meme coins.

[Nrcewker]

Greed is the major culprit. Be it trading or any sort of investment. If you can’t control the greed then ultimately you will end up losing everything. The easiest way to tackle greed is to use targets. Keep profit targets per trade or investment. Once the target is achieved just sell the coins and book the profits. And yes if you are a beginner, then it’s always advised to manage the finances. Just start with small amount and invest only that amount that you can afford to lose. As the money will be in risk for the profits.

[Adams0001]

1. Trading money that you can't afford to lose

I have to agree with this and it's good that it's on the number one. It is because many of the traders, new or not have thought that just because you're engaged in trading means taht you're going to profit.

And the logical thinking that many of us have is when they invest more money or start with a better capital, they have more edge in the market but little did they know that they can be beaten by itself when they don't know what to do.

So, trade only with specific amounts and start small for the beginners.

Anyone who started trading will know that he is taking a risk and that he will most likely lose his funds in the trading, and he will most likely be profitable when he is lucky because trading is lucky. No one can say that he will not lose, which is why they call it risk. You just need to take a risk and you can get lucky and win a lot of money, but when you understand trading, he will definitely reduce your risk, but you can still lose because not every time And the main point in trading, as op stated, that causes many people to fail in trading is greediness Because I may argue that most traders are greedy, but a majority of them are not. They require a large sum of money, and even if they make a profit, they will consider leaving it because he will invest more money, and the market will most likely fall, causing them to lose profit and capital.