Common Mistakes people make in Trading

[irhact]

No to Trading, as a newbie: most times newbies thinks that trading is quite easy, and they feels they can milk something good out of the market without any knowledge of technical and fundamental analysis, but after some tries and they got burned, they will start saying that trading is a scam, so the best thing is to avoid trading as a newbie.

No trading as a newbie shouldn't be a mistake as then how do you become a professional at trading if you don't start as a newbie, nobody starts trading as a professional, they had to start small, learn and made mistakes that made them who they're. What I think you should say is that newbies shouldn't start trading if they haven't learnt how to trade properly and have done some practice with demo accounts that has no risk or little risk with small money to prevent lost of big capitals. You can't avoid mistakes as a trader as you will have to make them to be capable of learning from your mistakes. Trading isn't gambling and we should not forget about that.

[Nanga Parbat]

 Emotional Decision-Making

Fear, greed, and euphoria are common emotions that can cloud judgment and lead to impulsive decisions. Traders often make mistakes when they're emotional, such as closing positions too early or holding onto losing trades

Correct, Most traders risk and lose when they are unable to control their emotions.  If we trade from the point of view that loss and profit are side by side and don't worry about losing your trade because cryptocurrencies are very volatile, everyone knows this.  So keeping this in mind if we trade then surely we will also have the feeling that your trade is in loss, the next moment may be in profit.  So understand that your emotions are under your control and not your trading.

[Webetcoins]

I would guess that, there are some different sort of traders, and that is the difference. Some people might buy and try to sell within a few minutes, some people may buy and want to sell that same day, some people may want to buy and sell within a week of it, and some may buy and sell three months later. All of these are traders, just because you hold it for three months doesn't make you a long term holder, those are people who hold for years. This is why I think it's quite important to realize that we are going to deal with something that is different among the traders.

Stop loss used for short term traders that deal within a single day, and long term trader that deals within a month, may not be the same. Long term has a higher chance to keep it holding for a while longer, and I think short term one will not want that, and want a quick profit and if not get out, which is understandable thinking about the situation as well. This is why it's quite important to know what you are doing, sometimes it is not an easy thing to handle, and sometimes it's quite easy to do it all. We should consider how mistakes could even be different among each type of trader, and not the same among all of them.

Stop loss is good for long term too if you know how to use it, not for bitcoin maybe but for some other stuff. Like imagine if you were holding Luna for a long term investment, and you had stop loss at 50%, instead of losing 100% of your money, you end up losing just 50%, and that seems like a better situation if you ask me. That's why it can still be used, but the bigger mistake has always been getting too confident and not worrying about losses and trying to do more and more risky stuff.

People who do a few spot trading, will end up seeing their profits as a way of thinking they can make that even bigger, like go into leverage and all that, which causes a lot of trouble and I think it's honestly not a great way to do it, and I would suggest that people should avoid that all together.

The best thing to do would be just not have that kind of confidence and just think that you are going to slowly and gradually go up, not all together all at the same time. We should assume that it is going to be a very tough deal in the end. If you stop that confidence, but still invest heavily into big name coins, and do the things by the book, without getting cocky and making high leverage deals, you will gain slow by slow and get richer.

[doomloop]

We need to consider the fact that we can make it work some way or form. I believe that its going to cause a lot of trouble, and things won't be that easy. Just realize that life isn't simple, and things won't be easy, and we can make it work some way or not.

If you keep on trading when you shouldn't, you will get bad results, and just because professional traders trade every minute, doesn't mean that you are a professional trader just because you trade, if you trade like them but make a loss, that means you are not ready to be like them, and this is why they are professionals and you are not. Just keep doing what you know, and trade when you are entirely certain about a trade, and even then make sure you double even triple check your decision, then you can make it, could be once a day, could be once a week, or even once a month.

Unfortunately there are other thousands of mistakes that every trader commits more often. It means you need to be more careful in crypto trading for profit making or better become a holder of bitcoin by leaving off trading completely.

[stadus]

No to Trading, as a newbie: most times newbies thinks that trading is quite easy, and they feels they can milk something good out of the market without any knowledge of technical and fundamental analysis, but after some tries and they got burned, they will start saying that trading is a scam, so the best thing is to avoid trading as a newbie.

No trading as a newbie shouldn't be a mistake as then how do you become a professional at trading if you don't start as a newbie, nobody starts trading as a professional, they had to start small, learn and made mistakes that made them who they're. What I think you should say is that newbies shouldn't start trading if they haven't learnt how to trade properly and have done some practice with demo accounts that has no risk or little risk with small money to prevent lost of big capitals. You can't avoid mistakes as a trader as you will have to make them to be capable of learning from your mistakes. Trading isn't gambling and we should not forget about that.

Also, even if newbies are not advise to trade, we can’t stop these people from entering into trading despite of their lack of knowledge and experience in the market simply because most newbies these days are very aggressive to trade thinking that trading could bring them bigger and faster profits. That’s why a lot of newbies these days are now trading earlier, but the good thing is, they will also learn trading earlier from losing their funds earlier.

[khiholangkang]

 Emotional Decision-Making

Fear, greed, and euphoria are common emotions that can cloud judgment and lead to impulsive decisions. Traders often make mistakes when they're emotional, such as closing positions too early or holding onto losing trades

Correct, Most traders risk and lose when they are unable to control their emotions.  If we trade from the point of view that loss and profit are side by side and don't worry about losing your trade because cryptocurrencies are very volatile, everyone knows this.  So keeping this in mind if we trade then surely we will also have the feeling that your trade is in loss, the next moment may be in profit.  So understand that your emotions are under your control and not your trading.

The most difficult to control is indeed emotion and that is what often makes a trader make mistakes in his decisions, I will affirm this because it often happens to me personally, such as emotions on profits that are greedy, not patient and making decisions based on emotional situations becomes a bad decision and more like gambling.

But about this mistake is a natural thing in a trading business, because controlling emotions in trading takes time and effort so that we can be logical and idealistic in the correct trading principles, in this case we need the right trading strategy and trading plan to be able to limit some things that trigger our emotions out of control.

[I_Anime]

 Emotional Decision-Making

Fear, greed, and euphoria are common emotions that can cloud judgment and lead to impulsive decisions. Traders often make mistakes when they're emotional, such as closing positions too early or holding onto losing trades

Correct, Most traders risk and lose when they are unable to control their emotions.  If we trade from the point of view that loss and profit are side by side and don't worry about losing your trade because cryptocurrencies are very volatile, everyone knows this.  So keeping this in mind if we trade then surely we will also have the feeling that your trade is in loss, the next moment may be in profit.  So understand that your emotions are under your control and not your trading.

Well that's true for one to be able to be successful in trading he or she need to have some good principles and also have good emotion management. Alot of trading don't normally take their time to gather some good knowledge on how trading work they just want to make it pretty fast through trading , neglecting the fact that they can easily lose their funds in trading by just making a slight mistakes. That's why trading not something one need to rush , one need to take their time to understand the system of trading. Is not like holding that don't require any complex or technical knowledge.

[letteredhub]

Over-trading that's a serious mistake many traders make because they want to make profit at all cost. I'll refer it to as trade chasing, chasing trade is a very bad habit and can make a trader miss opportunity in the market. After you may have lost all funds as a result of impatient by chasing trades you re mostly left behind with empty account when the right market opportunity to make profit eventually shows up.

[fullhdpixel]

Among the list, this is what I find very important because as you can see this involves risk management. Where it is important thing that you will remain in the trading - the more capital you have, the longer you will stay, so it is always important to protect your capital.
Minimizing losses while maximizing the profits. Risk management is a must!

Actually all items in the list are part of risk management, so all of them are important, however when it comes to stop-loss I think there are traders that can sometimes trade without it. I think this is because they are not in a hurry and are willing to wait for the price to recover. It's like they are a hybrid trader and investor. I think that a short capital can be able to last long in the good hands but it is still different if we will start with a big one. By this, we can be able to increase the size of our trades and this can allow us to earn a bigger profit, though the risk will now be a bit bigger too, if we experience a loss. By having a big capital, we can also be able to last longer than usual if we will minimize our trading sizes.

[Farma]

Well that's true for one to be able to be successful in trading he or she need to have some good principles and also have good emotion management. Alot of trading don't normally take their time to gather some good knowledge on how trading work they just want to make it pretty fast through trading , neglecting the fact that they can easily lose their funds in trading by just making a slight mistakes. That's why trading not something one need to rush , one need to take their time to understand the system of trading. Is not like holding that don't require any complex or technical knowledge.

Emotional management is something that is very important for every trader to be able to control their emotions when trading because it will make it difficult for them to get good results from the trade, so it would be very good for those who want to get good results on the trades they make to be able to train themselves to remain patient when seeing market conditions that are not favorable for them.

Taking the time to learn more about trading before deciding to trade is of course very good, but they also have to be patient with every learning process they do because it is very unlikely that someone will be able to make a profit without good knowledge about trading and for some people who ignore this, of course they are very unlikely to be able to make a profit from trading and what they will definitely get is only a loss if they do not go through the learning process first.

[GigaBit]

No to Trading, as a newbie: most times newbies thinks that trading is quite easy, and they feels they can milk something good out of the market without any knowledge of technical and fundamental analysis, but after some tries and they got burned, they will start saying that trading is a scam, so the best thing is to avoid trading as a newbie.

No trading as a newbie shouldn't be a mistake as then how do you become a professional at trading if you don't start as a newbie, nobody starts trading as a professional, they had to start small, learn and made mistakes that made them who they're. What I think you should say is that newbies shouldn't start trading if they haven't learnt how to trade properly and have done some practice with demo accounts that has no risk or little risk with small money to prevent lost of big capitals. You can't avoid mistakes as a trader as you will have to make them to be capable of learning from your mistakes. Trading isn't gambling and we should not forget about that.

Also, even if newbies are not advise to trade, we can’t stop these people from entering into trading despite of their lack of knowledge and experience in the market simply because most newbies these days are very aggressive to trade thinking that trading could bring them bigger and faster profits. That’s why a lot of newbies these days are now trading earlier, but the good thing is, they will also learn trading earlier from losing their funds earlier.

When it comes to cryptocurrency trading, there are many new traders who cannot control their greed. When they come to know about the price of Bitcoin and some other altcoins, they jump without any knowledge. There are many investors who have not even mastered the basics of investing but are desperate to trade. The first thing that is required to become a trader is trading knowledge. This trading knowledge consists of a combination of many things that a trader needs to acquire. Traders who joined trading without any knowledge lost their money due to wrong trading and some due to safety reasons or emotional and some lost their money due to greed. There is no guarantee that a trader will make profit if he is inexperienced but the possibility of loss is high for those who start trading without experience.

[jcojci]

Over-trading that's a serious mistake many traders make because they want to make profit at all cost. I'll refer it to as trade chasing, chasing trade is a very bad habit and can make a trader miss opportunity in the market. After you may have lost all funds as a result of impatient by chasing trades you re mostly left behind with empty account when the right market opportunity to make profit eventually shows up.

That is common thing that many traders do, not just new traders but also veteran traders. They don't thinks that they can really miss opportunity in the market especially if they can't analyze the market position. Chasing the trade can cause us getting lose money because we are in rush without making analysis because we don't want to late to take the opportunity to buy the coin.

We don't have to be like that because we must realizes that we still have the opportunity to enter to the market in the other time. So we must use that to analyze the market movement and find the right time to enter the market. We don't have attract to the market because of panic because that can makes us can't thinks clear. We must have to be patience to check the market before we decides.

[o48o]

Over-trading that's a serious mistake many traders make because they want to make profit at all cost. I'll refer it to as trade chasing, chasing trade is a very bad habit and can make a trader miss opportunity in the market. After you may have lost all funds as a result of impatient by chasing trades you re mostly left behind with empty account when the right market opportunity to make profit eventually shows up.

I've seen this happen to people who set to themselves impractical goals, like "i need to earn X money this month by trading", and then they manically try to find the right chart. When enough crappy, unclear charts have been browsed, suddenly some of them start to seem better to deal with. To me it's like trying to win poker by entering with every given pair to the game. And then there will be weeks that will be worth whole rest of the year of trading, This is what i understand of patience in trading; Waiting for the right moment to enter and exit.

[Yeesha]

LACK OF RESEARCH AND UNDERSTANDING: lack of research and understanding is the common mistake a lot of traders make due to willingness, eagerness, and impatient, they will involved themselves in trading without investigating and having proper knowledge, education and understanding on trading, and with having knowledge on the basics concepts of trading it helps to have a lots of experience on it and it will also serve as a guidance to the trader on how they are going to manage their marketing.

[Viscore]

Over-trading that's a serious mistake many traders make because they want to make profit at all cost. I'll refer it to as trade chasing, chasing trade is a very bad habit and can make a trader miss opportunity in the market. After you may have lost all funds as a result of impatient by chasing trades you re mostly left behind with empty account when the right market opportunity to make profit eventually shows up.

I've seen this happen to people who set to themselves impractical goals, like "i need to earn X money this month by trading", and then they manically try to find the right chart. When enough crappy, unclear charts have been browsed, suddenly some of them start to seem better to deal with. To me it's like trying to win poker by entering with every given pair to the game. And then there will be weeks that will be worth whole rest of the year of trading, This is what i understand of patience in trading; Waiting for the right moment to enter and exit.

The problem is, not all traders are patient enough to wait for the right set-up to trade as majority of newbies in trading are greedy and would want to earn get-rich-quick profits. That's probably the reason why majority at loss while only those early traders have been succeeding and are making sustainable profits when trading. Trading is not chasing profits at all cost, but it's certainly trading when there is a good opportunity to.

[mirakal]

Over-trading that's a serious mistake many traders make because they want to make profit at all cost. I'll refer it to as trade chasing, chasing trade is a very bad habit and can make a trader miss opportunity in the market. After you may have lost all funds as a result of impatient by chasing trades you re mostly left behind with empty account when the right market opportunity to make profit eventually shows up.

I've seen this happen to people who set to themselves impractical goals, like "i need to earn X money this month by trading", and then they manically try to find the right chart. When enough crappy, unclear charts have been browsed, suddenly some of them start to seem better to deal with. To me it's like trying to win poker by entering with every given pair to the game. And then there will be weeks that will be worth whole rest of the year of trading, This is what i understand of patience in trading; Waiting for the right moment to enter and exit.

The problem is, not all traders are patient enough to wait for the right set-up to trade as majority of newbies in trading are greedy and would want to earn get-rich-quick profits. That's probably the reason why majority at loss while only those early traders have been succeeding and are making sustainable profits when trading. Trading is not chasing profits at all cost, but it's certainly trading when there is a good opportunity to.

We should know that trading is not a place for impatients. Successful traders believe there is a perfect time to sell and buy, that is why they wait, but most traders, especially newbies, never find it. This common problem that most traders face greatly impacts their trading career. That is why if they want to see success in this field, then it is necessary for them to change their trading approaches seriously and seek enough good ideas. It is hard to accept the truth, but trading is not an easy job that a trader should not underestimate.

Many traders had failed already; I think we used that as a tool to urge ourselves to learn more rather than following their footsteps and wrongdoings. 

[laijsica]

 Emotional Decision-Making

Fear, greed, and euphoria are common emotions that can cloud judgment and lead to impulsive decisions. Traders often make mistakes when they're emotional, such as closing positions too early or holding onto losing trades

Correct, Most traders risk and lose when they are unable to control their emotions.  If we trade from the point of view that loss and profit are side by side and don't worry about losing your trade because cryptocurrencies are very volatile, everyone knows this.  So keeping this in mind if we trade then surely we will also have the feeling that your trade is in loss, the next moment may be in profit.  So understand that your emotions are under your control and not your trading.

This happens due to deviations in patience ​​that tempt a trader and eventually he loses financially. According to me a trader should not show excessive volatility to get profit and should be inclined to buy first so that he can diversify his portfolio later. The need for diversification in your investment is very important to get profit as long term and short term plans can be chosen simultaneously. When the size of holdings in your portfolio is large, your potential for profit increases and risk decreases.

The market of cryptocurrency is always volatile with high risk and high profit potential so you should have long term holding along with short term trading to arrange your plan. Buying trend should hold at each price level.

[$weetne$$]

LACK OF RESEARCH AND UNDERSTANDING: lack of research and understanding is the common mistake a lot of traders make due to willingness, eagerness, and impatient, they will involved themselves in trading without investigating and having proper knowledge, education and understanding on trading, and with having knowledge on the basics concepts of trading it helps to have a lots of experience on it and it will also serve as a guidance to the trader on how they are going to manage their marketing.

They do this before and after they start trading and this result in their losses, if they had research before they started trading, they would had been informed and not make the mistakes that they do that causes their losses. After they start trading too, they do not continue to research but assume that they are now experts and know what they are doing but in reality, they do not know anything only depending on guessing and hoping that they get lucky to have a successful trade. Traders that know what they are doing do not need to depend on luck as they can predict the market with accuracy and make profits, majority of the time. Traders are losing interest in researching and only depending on signal from others without verifying if the signals are correct ones or not, they just use it like that.

[stomachgrowls]

No to Trading, as a newbie: most times newbies thinks that trading is quite easy, and they feels they can milk something good out of the market without any knowledge of technical and fundamental analysis, but after some tries and they got burned, they will start saying that trading is a scam, so the best thing is to avoid trading as a newbie.

No trading as a newbie shouldn't be a mistake as then how do you become a professional at trading if you don't start as a newbie, nobody starts trading as a professional, they had to start small, learn and made mistakes that made them who they're. What I think you should say is that newbies shouldn't start trading if they haven't learnt how to trade properly and have done some practice with demo accounts that has no risk or little risk with small money to prevent lost of big capitals. You can't avoid mistakes as a trader as you will have to make them to be capable of learning from your mistakes. Trading isn't gambling and we should not forget about that.

Also, even if newbies are not advise to trade, we can’t stop these people from entering into trading despite of their lack of knowledge and experience in the market simply because most newbies these days are very aggressive to trade thinking that trading could bring them bigger and faster profits. That’s why a lot of newbies these days are now trading earlier, but the good thing is, they will also learn trading earlier from losing their funds earlier.

When it comes to cryptocurrency trading, there are many new traders who cannot control their greed. When they come to know about the price of Bitcoin and some other altcoins, they jump without any knowledge. There are many investors who have not even mastered the basics of investing but are desperate to trade. The first thing that is required to become a trader is trading knowledge. This trading knowledge consists of a combination of many things that a trader needs to acquire. Traders who joined trading without any knowledge lost their money due to wrong trading and some due to safety reasons or emotional and some lost their money due to greed. There is no guarantee that a trader will make profit if he is inexperienced but the possibility of loss is high for those who start trading without experience.

All of us would be inevitably be able to experience this one, specially on the  time or moment that we would really be that we are still newbies on which there would really be those emotions or feelings on which
its normal since we dont still have the experience and that awareness on how this market works. On the moment that you do gain up experience then this is the moment that you would really be progressive on which you would really be that making yourself to be more better as you do go ahead. It wouldnt really be t hat much of a concern if you do see yourself having that progress on which this is a must because dealing up with
trading but continously losing or having no progress or improvement then it do really shows that there's something wrong with your trading and this is something that needs to be changed up.

The common mistakes on which people are really that making is that they do really that become careless on which they do really forgot out when it comes to risks management on which we know that this is something important on the time that you would really be doing trading. Mistakes are normal the good thing on here is that you should really be learning from those mistakes to make yourself that better. There are really
people who do easily quit or stop on the moment that they would be losing money which it isnt really just that right. You should really be that accepting those and learn from it if you are really planning
to become a better trader.

[CageMabok]

LACK OF RESEARCH AND UNDERSTANDING: lack of research and understanding is the common mistake a lot of traders make due to willingness, eagerness, and impatient, they will involved themselves in trading without investigating and having proper knowledge, education and understanding on trading, and with having knowledge on the basics concepts of trading it helps to have a lots of experience on it and it will also serve as a guidance to the trader on how they are going to manage their marketing.

All jobs do require understanding and experience in order to be able to do it smoothly without any obstacles and of course this can be obtained through research and learning from people who already know it now. I think nothing is that difficult as long as we have more time to learn and also to do our own research after learning from several sectors for trading, so use your time wisely and don't need to make decisions in a hurry because it will also not be good enough for beginner traders.