Altcoins Talks - Cryptocurrency Forum
Crypto Discussion Forum => Cryptocurrency Trading => Topic started by: Glow on April 13, 2025, 10:09:30 PM
-
When I first started trading crypto, I thought I was going to double my money overnight.but I didn't i lost more than I made in the beginning, and these are the biggest mistakes I made that I hope you can learn from:
1. Trading Without a Plan :I used to jump into trades just because the price was moving. I didn’t set stop-losses or take-profits because I didn't even know they existed but now I treat every trade like a business decision with risk management first I calculated every move and make sure I only lost little out of my whole investment before i take any trade.
2. Following Hype Blindly :i bought tokens because they were trending on Twitter or pumped by influencers. Some were rug pulls, some just dumped hard after the hype. Now, I do my own research (DYOR) before touching anything and after researching I do my own analysis with the past price movement untill I see a clear trend and if I don't I just wait or stick to the ones am used to.
3. Ignoring Fees : Small trades on platforms with high fees (especially leverage or futures platforms) ate into my profits fast. Now I check fee structures before trading and search for apps that charge less.
4. Overtrading : I thought more trades equal more money. But I was just paying more in fees and making emotional decisions. Now I focus on quality setups over quantity and trade just once or twice in a day and when am done I get out of the market to avoid fomo.
5. Not Using a Journal : I didnt track my wins and losses or why I entered trades. Now I keep a trading journal,it helps me see patterns in my behavior and improve and helps me understand the market structure more, although the market doesn't have a regular pattern but the journal it gives me heads-up on the trend and direction.
Final Thought: Everyone makes mistakes, especially in crypto where things move fast. But if you can learn from others’ experiences,and also acquire appropriate knowledge needed and always learning because in crypto nothing is certain and changes always happen so your are always learning you’ll save time and money.
What were your biggest mistakes when you started trading? Lets help each other grow, thank you.
-
Try to arrange your post properly mate, though I get your point. Yes, asa trader there are so many things that you have to consider for you to make profits from the market. Just having a strategy sometimes doesn't guarantee your wins. You need to have a good trading plan and see to it that you follow that plan. Most trader may think that over trading is consistency, but that's wrong. Being consistent means you are able to trade on valid setups most of the time and your losses are less compared to your wins.
-
Thanks mate for creat your nice advising post in this time. I am also saw your appropriate point in your comment. We know that when a new person want to trade or Start trade, i think that it will be losses source for him. Because without trading plan it must be difficult for any traders. We also saw some traders, who don’t any knowledge from cryptocurrency trading. Because cryptocurrency knowledge is very important issue for trade. We also know that overtrade also very harmful for a trader. So if we can trade in prefer time, i believe that we can be profitable here. So we should try to understand, for crypto currency market and this rule carefully.
-
All of your trading tips are valid. It’s just that you need to be more consistent. Knowing that you are trying to trade and just going with the flow is not going to be a successful one, so making sure that you are managing your risk is the most important part, in my opinion.
-
All of your trading tips are valid. It’s just that you need to be more consistent. Knowing that you are trying to trade and just going with the flow is not going to be a successful one, so making sure that you are managing your risk is the most important part, in my opinion.
Risk-management is the thing that allows us to continue to refine our skills and not to wait for another chance to fill out the gap with funds arriving from other sources - so I definitely agree with this point.
-
Try to arrange your post properly mate, though I get your point. Yes, asa trader there are so many things that you have to consider for you to make profits from the market. Just having a strategy sometimes doesn't guarantee your wins. You need to have a good trading plan and see to it that you follow that plan. Most trader may think that over trading is consistency, but that's wrong. Being consistent means you are able to trade on valid setups most of the time and your losses are less compared to your wins.
Thank you for the observation and correction but what do u think I should have done differently.
Yeah and I think trading isn't all about the planing,strategy and all that it is mostly a psychological war between you and the market and you winning that war takes time and patience with decipline added,I believe every trader should should have rules he or she follows in order to be profitable that's the difference between a trader and a profitable trader because it's easy to be a trader but it's hard at first to be a profitable trader but when you follow your rules and be consistent it becomes kind of easy although taking trades are not easy but with experience it's becomes less worrying.
-
All of your trading tips are valid. It’s just that you need to be more consistent. Knowing that you are trying to trade and just going with the flow is not going to be a successful one, so making sure that you are managing your risk is the most important part, in my opinion.
Actually I think that to be a skilled trader you need strategy, patience and experience. When you trade you need to consistently follow those strategies. Because to be a trader you need to analyze the market well. There are risks in every job but you have to overcome them according to your ideas and practices. If you are a trader it is better to continue working carefully. Then you can keep your capital and reach your destination.
-
All of your trading tips are valid. It’s just that you need to be more consistent. Knowing that you are trying to trade and just going with the flow is not going to be a successful one, so making sure that you are managing your risk is the most important part, in my opinion.
Actually I think that to be a skilled trader you need strategy, patience and experience. When you trade you need to consistently follow those strategies. Because to be a trader you need to analyze the market well. There are risks in every job but you have to overcome them according to your ideas and practices. If you are a trader it is better to continue working carefully. Then you can keep your capital and reach your destination.
Trading deserves a lot more than this but you have mention the key points and the most important aspect of trading but some little things are also valuable to be a successful and profitable trader. For a trader to be more more profitable and successful they requires a lot of knowledge and consistency to help move forward in the market and be able to analyze the market for better and positive result.
-
When I first started trading crypto, I thought I was going to double my money overnight.but I didn't i lost more than I made in the beginning, and these are the biggest mistakes I made that I hope you can learn from:
1. Trading Without a Plan :I used to jump into trades just because the price was moving. I didn’t set stop-losses or take-profits because I didn't even know they existed but now I treat every trade like a business decision with risk management first I calculated every move and make sure I only lost little out of my whole investment before i take any trade.
2. Following Hype Blindly :i bought tokens because they were trending on Twitter or pumped by influencers. Some were rug pulls, some just dumped hard after the hype. Now, I do my own research (DYOR) before touching anything and after researching I do my own analysis with the past price movement untill I see a clear trend and if I don't I just wait or stick to the ones am used to.
3. Ignoring Fees : Small trades on platforms with high fees (especially leverage or futures platforms) ate into my profits fast. Now I check fee structures before trading and search for apps that charge less.
Am glad you highlighted emotion and risk management. These are avoidable mistakes if one is experienced. Sustaining a firm grip over one's emotion like fear and greed while trading can aid profit making, and resilient risk strategy will help shield your capital. These are vital key factors to bear in mind in trading
4. Overtrading : I thought more trades equal more money. But I was just paying more in fees and making emotional decisions. Now I focus on quality setups over quantity and trade just once or twice in a day and when am done I get out of the market to avoid fomo.
5. Not Using a Journal : I didnt track my wins and losses or why I entered trades. Now I keep a trading journal,it helps me see patterns in my behavior and improve and helps me understand the market structure more, although the market doesn't have a regular pattern but the journal it gives me heads-up on the trend and direction.
Final Thought: Everyone makes mistakes, especially in crypto where things move fast. But if you can learn from others’ experiences,and also acquire appropriate knowledge needed and always learning because in crypto nothing is certain and changes always happen so your are always learning you’ll save time and money.
What were your biggest mistakes when you started trading? Lets help each other grow, thank you.
-
I am trying to sense how people thinks about trading, trading is cool and sweet when you know what you are doing than just trading blindly it will affect that person who is trading. Trading is good when you choose the right section to trade like spots, future and binary trading, jumping from different one to another could likely reduces your chances of how you could win for long on the market.
-
What you say is okay, op, and I also think that it will still add to the knowledge of others here as reminders, although I know there are many other reasons why some traders do not make progress in this crypto industry.
And one of them is not to be greedy, this is the usually common thing that really happens why other traders lose, but if they do not become greedy,
then for sure they will get a profit in the end.
-
Thanks mate for creat your nice advising post in this time. I am also saw your appropriate point in your comment. We know that when a new person want to trade or Start trade, i think that it will be losses source for him. Because without trading plan it must be difficult for any traders. We also saw some traders, who don’t any knowledge from cryptocurrency trading. Because cryptocurrency knowledge is very important issue for trade. We also know that overtrade also very harmful for a trader. So if we can trade in prefer time, i believe that we can be profitable here. So we should try to understand, for crypto currency market and this rule carefully.
Well, I reckon every trading mistake comes from a lack of knowledge and skills. Investors often jump into the market too hastily without enough trading knowledge: TP, SL, capital allocation, leverage, margin... They also lack the skills to manage their accounts and their own psychology at crucial times.
I hope this topic can help traders take a look back at themselves and come up with wiser strategies to grow their trading career or at least limit mistakes and losses when participating in this market.
-
Final Thought: Everyone makes mistakes, especially in crypto where things move fast. But if you can learn from others’ experiences,and also acquire appropriate knowledge needed and always learning because in crypto nothing is certain and changes always happen so your are always learning you’ll save time and money.
What were your biggest mistakes when you started trading? Lets help each other grow, thank you.
You made a good points but what is a new trader going to do with a leverage trading? I believe someone that decide to do trading doesn't have business trading futures unless they are professional in normal trading before they can grow confidence in trading futures unless you want to be losing your money to the market.
In addition, most of your points are personal points. You don't need a journal to be a successful trader, you can be what you want, the journal is personal. You should have talk more about the things that makes people fail from trading most of the times and not these personal reasons.
-
Beginners should not jump straight into trading, that's the most common mistake that a newbie makes, it will take time to learn and become familiar with the market even though it's not absolutely possible to predict still it gives an idea how the risk factors will be. Then start with low capital, like $50 or $100 instead of just dumping a big capital, these small capital is just to learn and get trading skills once you're sure that you're making profits then it's good to go.
-
At a certain point in time, we have every reason to avoid going on loss because we couldn't afford taking in the consequence on this, to now secure ourself form any form of making mistake, we have to take some precautionary measures over our investment in crypto, also, we should learn how we can avoid making mistakes, because the more we go on the wrong deal the more it place a serious cost on us.
-
What you say is okay, op, and I also think that it will still add to the knowledge of others here as reminders, although I know there are many other reasons why some traders do not make progress in this crypto industry.
And one of them is not to be greedy, this is the usually common thing that really happens why other traders lose, but if they do not become greedy,
then for sure they will get a profit in the end.
You are absolutely correct and I agree with you that not being greedy in crypto trading is a very good and useful skills to master and have ,the market moves and sometimes it's a real bull or bear run while other times its a fake out it will look like it's moving and when u jump in expecting to capitalize it might move a little in your favour then reverse back but if u understand market structure and catch that early it's better to close with little profit than having a major drawdown and loss in your hands. So not being greedy really helps in trading.
-
It's true but loss is part of the game in fact if someone can't cope with loss while trading then I don't think trading is for that person because trading is not designed for you to always win there are losses too but trying to make the profits more than losses is what a profitable trading is all about.
-
What were your biggest mistakes when you started trading? Lets help each other grow, thank you.
I believed that the trading academy could teach me all that I needed to know concerning trading, and then I paid some amount of money, and at the end of the day, I ended up learning nothing but the basics and things that I knew before I even joined the academy. The big lesson learned is that if you must join a trading academy, do not join with high hopes for high expectations.
-
What were your biggest mistakes when you started trading? Lets help each other grow, thank you.
I believed that the trading academy could teach me all that I needed to know concerning trading, and then I paid some amount of money, and at the end of the day, I ended up learning nothing but the basics and things that I knew before I even joined the academy. The big lesson learned is that if you must join a trading academy, do not join with high hopes for high expectations.
maybe you joined an academy that did not offer much in terms of expertise or knowledge? because i know some people who also paid to learn how to trade and they did end up becoming successful traders though i suppose not every program is the same and you really need to find something that is actually helpful
aside from that you should also take some initiative to learn even outside the academy because the academy can only teach you so much and it’s still up to you how to use that knowledge and expand that even more
-
What were your biggest mistakes when you started trading? Lets help each other grow, thank you.
I believed that the trading academy could teach me all that I needed to know concerning trading, and then I paid some amount of money, and at the end of the day, I ended up learning nothing but the basics and things that I knew before I even joined the academy. The big lesson learned is that if you must join a trading academy, do not join with high hopes for high expectations.
maybe you joined an academy that did not offer much in terms of expertise or knowledge? because i know some people who also paid to learn how to trade and they did end up becoming successful traders though i suppose not every program is the same and you really need to find something that is actually helpful
aside from that you should also take some initiative to learn even outside the academy because the academy can only teach you so much and it’s still up to you how to use that knowledge and expand that even more
- You know, I have an acquaintance who said he attended other sessions about trading several times, he even paid for a few sessions, but the things he taught were very basic, and he only tackled and hyped the attendees more on motivational topics.
But the one time we talked on messenger, I only answered a few of the questions he asked me, and when I answered him with a simple explanation, he said what I said made more sense than the seminar he attended about trading. I just told him that if he had a question and didn't understand, he could ask me and I would answer if I could explain. I said this not to brag, I just told him because if he was really interested, we would learn it really quickly, and the one at the academy was just a bonus.
-
- You know, I have an acquaintance who said he attended other sessions about trading several times, he even paid for a few sessions, but the things he taught were very basic, and he only tackled and hyped the attendees more on motivational topics.
But the one time we talked on messenger, I only answered a few of the questions he asked me, and when I answered him with a simple explanation, he said what I said made more sense than the seminar he attended about trading. I just told him that if he had a question and didn't understand, he could ask me and I would answer if I could explain. I said this not to brag, I just told him because if he was really interested, we would learn it really quickly, and the one at the academy was just a bonus.
You are a good person, because you are willing to answer your friend's questions and explain them well. because there are few people who want to do that, because most of them are greedy and don't want to see other people succeed. I have never attended a seminar or joined a VIP group that discusses trading, because I prefer to learn by myself
-
The points you mentioned are actually common problems faced by most new traders. And because of these problems, they face many problems when they go into futures and which also makes them regret it. I myself have made almost all of the five mistakes you mentioned, although I tried to track my losses and profits, but due to the lack of a proper plan and strategy, I faced many losses just because others took my initial trades. So I think each of the above points is important that a trader needs to know before starting trading.
-
Final Thought: Everyone makes mistakes, especially in crypto where things move fast. But if you can learn from others’ experiences,and also acquire appropriate knowledge needed and always learning because in crypto nothing is certain and changes always happen so your are always learning you’ll save time and money.
What were your biggest mistakes when you started trading? Lets help each other grow, thank you.
We cant be perfect and mistakes could inevitably happen on which simply means that if you do need up to adjust then you should be doing it and if you do need up to do on which you do seem which is right. Just like been said that experience would be the best teacher and there's no way that you can learn up things accordingly. Somehow reading up others comments or those advises or real time experiences will be giving out that kind of idea on which later on you could be able to apply it out on your own. There are those times or moments that you can be able to avoid just because you had been ableto read up earlier on how those past experiences of others resulting into. In other situations on which this could also be leading up into that advance thinking on which we can say that its an advantage because you've been wary about into those probabilities.
-
I do not mind about the trading fees because they are not that much. Or that is my mistake of not thinking about them and when they consolidates, the amount gets bigger. And someone who trades without a plan will reach that point of losing everything and only wants to trade because they have seen others profiting from it.
-
Great, i think this post will be helpful for new traders even some old traders also. I think new traders mainly need proper knowledge and training. Without proper knowledge newbies will made mistake and lose his valuable fund there has no doubt.
And your mentioned point also very important. If newbies follow your advice and gether proper knowledge about trading then they will be successful today or tomorrow otherwise his fund will be risky.
-
What were your biggest mistakes when you started trading? Lets help each other grow, thank you.
I believed that the trading academy could teach me all that I needed to know concerning trading, and then I paid some amount of money, and at the end of the day, I ended up learning nothing but the basics and things that I knew before I even joined the academy. The big lesson learned is that if you must join a trading academy, do not join with high hopes for high expectations.
maybe you joined an academy that did not offer much in terms of expertise or knowledge? because i know some people who also paid to learn how to trade and they did end up becoming successful traders though i suppose not every program is the same and you really need to find something that is actually helpful
aside from that you should also take some initiative to learn even outside the academy because the academy can only teach you so much and it’s still up to you how to use that knowledge and expand that even more
- You know, I have an acquaintance who said he attended other sessions about trading several times, he even paid for a few sessions, but the things he taught were very basic, and he only tackled and hyped the attendees more on motivational topics.
But the one time we talked on messenger, I only answered a few of the questions he asked me, and when I answered him with a simple explanation, he said what I said made more sense than the seminar he attended about trading. I just told him that if he had a question and didn't understand, he could ask me and I would answer if I could explain. I said this not to brag, I just told him because if he was really interested, we would learn it really quickly, and the one at the academy was just a bonus.
I do commend you honestly because most trading academy are mainly established mainly because of the money they would charge. They don’t really create value and they all mostly charge outrageous fees. Because of that i sticked with learning myself when i started out trading, YouTube was my go to place for learning then and now because we all learn something new everyday.
-
-snip-
Because of that i sticked with learning myself when i started out trading, YouTube was my go to place for learning then and now because we all learn something new everyday.
Learn self-taught and it can be successful if there is the intention and willingness to continue learning.
Moreover, now learning is easier and you can rely on AI as an assistant to know various kinds of knowledge including trading and you just have to ask the AI and it will be answered according to the data that the AI has.
-
-snip-
Because of that i sticked with learning myself when i started out trading, YouTube was my go to place for learning then and now because we all learn something new everyday.
Learn self-taught and it can be successful if there is the intention and willingness to continue learning.
Moreover, now learning is easier and you can rely on AI as an assistant to know various kinds of knowledge including trading and you just have to ask the AI and it will be answered according to the data that the AI has.
Truly, there is a lot to learn about trading online. There are online teachers whose services are free and so it takes only a trader with the right mindset and focus to put good use of those things learnt through practice. Trading is not theoretical and so as a trader learns there is need for the practical aspect of it.
As you mentioned, AI can provide answers to any question asked, so a trader can take advantage of this by asking basic trading questions and receiving instant responses that can help him improve his trading skills.
-
-snip-
Because of that i sticked with learning myself when i started out trading, YouTube was my go to place for learning then and now because we all learn something new everyday.
Learn self-taught and it can be successful if there is the intention and willingness to continue learning.
Moreover, now learning is easier and you can rely on AI as an assistant to know various kinds of knowledge including trading and you just have to ask the AI and it will be answered according to the data that the AI has.
That's true I have never had a tutor or went to an academy,all I know about trading was self taught and lessons hard learnt,most things about trading that is important for people to know is through your own mistakes and experiences, I started with a 10$ account and carefully was able to grow it to a steady 60$ account and that was a great achievement for me but then I started getting ahead of myself and being overconfident with my trades and the market also started changing dynamics which all lead to my losses started being more than my profits ,then I realised that there is more to the crypto market than what people know about it,then I started another research and from then I have never stopped learning abt crypto which has been very advantageous to me.
-
-snip-
As you mentioned, AI can provide answers to any question asked, so a trader can take advantage of this by asking basic trading questions and receiving instant responses that can help him improve his trading skills.
AI nowadays helps everything in any way, we can learn very easily and there is no reason to be lazy anymore or because there is no mentor etc, AI becomes a mentor that will answer all your questions about trading and other complex things and of course this is based on the specific data that the AI learns.
-snip-
then I realised that there is more to the crypto market than what people know about it,then I started another research and from then I have never stopped learning abt crypto which has been very advantageous to me.
The crypto market is very vast and complex, you will never run out of learning about it, there will be something new so that crypto is the future that needs to be learned.
Learn crypto and start trading and investing, it is a goal that provides profits so you know how crypto works to make money.
-
-snip-
As you mentioned, AI can provide answers to any question asked, so a trader can take advantage of this by asking basic trading questions and receiving instant responses that can help him improve his trading skills.
AI nowadays helps everything in any way, we can learn very easily and there is no reason to be lazy anymore or because there is no mentor etc, AI becomes a mentor that will answer all your questions about trading and other complex things and of course this is based on the specific data that the AI learns.
-snip-
then I realised that there is more to the crypto market than what people know about it,then I started another research and from then I have never stopped learning abt crypto which has been very advantageous to me.
The crypto market is very vast and complex, you will never run out of learning about it, there will be something new so that crypto is the future that needs to be learned.
Learn crypto and start trading and investing, it is a goal that provides profits so you know how crypto works to make money.
AI can be solely relayed on they are very useful and helpful to individuals. They served as a mentor, teacher and also a professor just as you mention some AI have been programmed to some massive level that you can get a better and understanding explanation in your own terms and they really teach more than some mentor and they are not busy nor sleepy they are always active 24/7 any time you need them they are always available.
When you have AI then you can understand trading basics and lot more but the advantage human mentor has over them is just the physical appearance and the explanation being done detail and much more understanding.
-
Anyone is bound to make mistakes, but we must ensure that we don't have it done repeatedly, because when we are trading, our money is at stake and we either earn profit form it or lose our money at the cause, this makes it more pertinent for us to always take some serious measures towards the safety of our assets, we can learnt o minimize the extent to which we make mistakes each time we are trading.
-
2. Following Hype Blindly :i bought tokens because they were trending on Twitter or pumped by influencers. Some were rug pulls, some just dumped hard after the hype.
This is something that often happens to beginners. Trading new hype coins blindly, without any understanding, analysis, or even without any trading plans, just following people that are getting FOMO of the enw hype coins. This is really bad. but the problem is that this often happens in crypto trading. that's why, many new traders often lose money because of some of these things.
It's great when they start to realize and start changing their journey in trading, so they can have time to prepare themselves by upgrading their knowledge, understanding, and some plans that involve good and wise strategies and tactics.
-
-snip-
As you mentioned, AI can provide answers to any question asked, so a trader can take advantage of this by asking basic trading questions and receiving instant responses that can help him improve his trading skills.
AI nowadays helps everything in any way, we can learn very easily and there is no reason to be lazy anymore or because there is no mentor etc, AI becomes a mentor that will answer all your questions about trading and other complex things and of course this is based on the specific data that the AI learns.
-snip-
then I realised that there is more to the crypto market than what people know about it,then I started another research and from then I have never stopped learning abt crypto which has been very advantageous to me.
The crypto market is very vast and complex, you will never run out of learning about it, there will be something new so that crypto is the future that needs to be learned.
Learn crypto and start trading and investing, it is a goal that provides profits so you know how crypto works to make money.
And the good thing about the knowledge acquired is that it stays with you forever,and the decipline that comes with it isn't only useful in trading but also can be applied to our daily life choices which is also a convince.
-
2. Following Hype Blindly :i bought tokens because they were trending on Twitter or pumped by influencers. Some were rug pulls, some just dumped hard after the hype.
This is something that often happens to beginners. Trading new hype coins blindly, without any understanding, analysis, or even without any trading plans, just following people that are getting FOMO of the enw hype coins. This is really bad. but the problem is that this often happens in crypto trading. that's why, many new traders often lose money because of some of these things.
It's great when they start to realize and start changing their journey in trading, so they can have time to prepare themselves by upgrading their knowledge, understanding, and some plans that involve good and wise strategies and tactics.
There are also many stubborn crypto communities in this era, in fact, they always never learn from the mistakes of others, this was the fact that they seemed to not accept the truth. They are quick to believe in promises and other hype.
Then what's even worse is when they see many people investing and getting hyped, they will do the same without doing anything else,
so the end result is Fomo.
-
-snip-
When you have AI then you can understand trading basics and lot more but the advantage human mentor has over them is just the physical appearance and the explanation being done detail and much more understanding.
yes, if you find a good mentor and really care about you (not just because of the high pay) but really want you to understand it could be the best option, but now there is no mentor who really does that.
I've never had a mentor exclusively, but I've had a lot of friends who pointed out to me that trading is right like this and like that,
we also engage in discussions about trading and such.
And now AI is becoming an assistant that doesn't even require any pay, asking more questions as per the existing data and more.
-
I am trying to sense how people thinks about trading, trading is cool and sweet when you know what you are doing than just trading blindly it will affect that person who is trading. Trading is good when you choose the right section to trade like spots, future and binary trading, jumping from different one to another could likely reduces your chances of how you could win for long on the market.
Yeah trading is good when a trader chooses his trading options among the, SPOT, MARGIN and FUTURE. Binary trading is not found on the crypto market, I think binary trading should be on the stock or foreign exchange (FX) market.
Besides the required experiences to trade cryptocurrency, it also depends on traders market options (spot, margin and future). This risk on these trading options varies, they don't have equal risk, and we should be specific when analyzing, or comparing the risk involved on trading. For example spot market is basically trading on your personal capitals, no leverage needed, while margin may involve some leverages, and the future option is quite different, future is a contract that requires certain levels of extras capital or leverages.
-
This is something that often happens to beginners.
There are also many stubborn crypto communities in this era, in fact, they always never learn from the mistakes of others, this was the fact that they seemed to not accept the truth. They are quick to believe in promises and other hype.
Then what's even worse is when they see many people investing and getting hyped, they will do the same without doing anything else,
so the end result is Fomo.
Complete package:
Stubborn, overconfident, easily panic, easily FOMO, and also difficult to control emotions. Well, this is actually experienced by many people, including us maybe. But as time goes by, we should be able to become wiser in every step in crypto. Because only we ourselves can determine our fate in the future. Don't just because of being those bad emotions as explained above, we will actually suffer huge losses. We ourselves are the ones who lose, not other people.
But yes, once again, there are many beginners who are unable to adjust and are increasingly shaken by market conditions that they think may be unclear. and in the end they gave up very quickly by labeling crypto as a scam or something else, even though the losses were due to their own actions, who were not ready to invest in cryptocurrency.
-
Anyone is bound to make mistakes, but we must ensure that we don't have it done repeatedly, because when we are trading, our money is at stake and we either earn profit form it or lose our money at the cause, this makes it more pertinent for us to always take some serious measures towards the safety of our assets, we can learnt o minimize the extent to which we make mistakes each time we are trading.
There is no way you will trade without making mistakes and it's inevitable even as professional trader because we learn everyday from the market. Another thing is loss is inevitable, you will make loss like it's norm in the market but the general thing here is that your loss should be minimal while trading and your profit should be bigger.
If you trade everyday for 30 days and you make 10 loss at worst days of the market and you make 20 days of profit, that's 2:1 ratio of risk and you made away with 2x of your trades and if you are lucky with high volatility, your return on investment will be bigger.
-
Anyone is bound to make mistakes, but we must ensure that we don't have it done repeatedly, because when we are trading, our money is at stake and we either earn profit form it or lose our money at the cause, this makes it more pertinent for us to always take some serious measures towards the safety of our assets, we can learnt o minimize the extent to which we make mistakes each time we are trading.
There is no way you will trade without making mistakes and it's inevitable even as professional trader because we learn everyday from the market. Another thing is loss is inevitable, you will make loss like it's norm in the market but the general thing here is that your loss should be minimal while trading and your profit should be bigger.
If you trade everyday for 30 days and you make 10 loss at worst days of the market and you make 20 days of profit, that's 2:1 ratio of risk and you made away with 2x of your trades and if you are lucky with high volatility, your return on investment will be bigger.
It depends on how much you risk if you have 1:5 risk ratio do you think you can get 2:1 risk ratio on 20 days of win and 10 days of lost?
So it still depends on how much your risk and what strategy you were using.
Losing in trading is normal that is why if you are trading daily only make a quality trades 2 or 3 trades only is enough. So you need to be patient and look for a good opportunity. High quality trades shoyld makes you a positive result.
-
Anyone is bound to make mistakes, but we must ensure that we don't have it done repeatedly, because when we are trading, our money is at stake and we either earn profit form it or lose our money at the cause, this makes it more pertinent for us to always take some serious measures towards the safety of our assets, we can learnt o minimize the extent to which we make mistakes each time we are trading.
There is no way you will trade without making mistakes and it's inevitable even as professional trader because we learn everyday from the market. Another thing is loss is inevitable, you will make loss like it's norm in the market but the general thing here is that your loss should be minimal while trading and your profit should be bigger.
If you trade everyday for 30 days and you make 10 loss at worst days of the market and you make 20 days of profit, that's 2:1 ratio of risk and you made away with 2x of your trades and if you are lucky with high volatility, your return on investment will be bigger.
It depends on how much you risk if you have 1:5 risk ratio do you think you can get 2:1 risk ratio on 20 days of win and 10 days of lost?
So it still depends on how much your risk and what strategy you were using.
Losing in trading is normal that is why if you are trading daily only make a quality trades 2 or 3 trades only is enough. So you need to be patient and look for a good opportunity. High quality trades shoyld makes you a positive result.
Your explanation is as simple as it gets and these are the key points to success in trading and if you can't afford to be patient enough then just be an investor.
-
~
Final Thought: Everyone makes mistakes, especially in crypto where things move fast. But if you can learn from others’ experiences,and also acquire appropriate knowledge needed and always learning because in crypto nothing is certain and changes always happen so your are always learning you’ll save time and money.
What were your biggest mistakes when you started trading? Lets help each other grow, thank you.
When first trading crypto, everyone must have made mistakes. and the most common is trading with passion without thinking long. Buy coins with the hope of getting profit soon, but the reality is different from expectations. Money is lost and regret, but if we have a professional trading talent, then those mistakes will be our experience so that we can trade better next time.
-
~
Final Thought: Everyone makes mistakes, especially in crypto where things move fast. But if you can learn from others’ experiences,and also acquire appropriate knowledge needed and always learning because in crypto nothing is certain and changes always happen so your are always learning you’ll save time and money.
What were your biggest mistakes when you started trading? Lets help each other grow, thank you.
When first trading crypto, everyone must have made mistakes. and the most common is trading with passion without thinking long. Buy coins with the hope of getting profit soon, but the reality is different from expectations. Money is lost and regret, but if we have a professional trading talent, then those mistakes will be our experience so that we can trade better next time.
This is why, at the very beginning of trading, people do not think about possible losses and are guided only by the desire for fast and high profit. The lust of money can force us to act recklessly even though trading is not a job for the impatient person. Every failure we encounter becomes somewhat useful as they give an insight on how to deal with risks more cautiously. If you are able to learn from these mistakes you will over a time have a better strategy in avoiding being negative influenced by emotions or market euphoria.
-
I am trying to sense how people thinks about trading, trading is cool and sweet when you know what you are doing than just trading blindly it will affect that person who is trading. Trading is good when you choose the right section to trade like spots, future and binary trading, jumping from different one to another could likely reduces your chances of how you could win for long on the market.
That is the best advice to any new, as first we don't have to find which trading we are doing like day trading, swing trading, long term trading. We need to find, which is good from spot, future or the other ones you mentioned, along the ones I mentioned. So we could take better decisions.
I first traded in future, it was not for me that I knew in like 15 days, I left, I started spot, I started small in spot, then left it too until I start investing for long term, and I find long term the best thing for me, now I prefer it over anything.
-
I am trying to sense how people thinks about trading, trading is cool and sweet when you know what you are doing than just trading blindly it will affect that person who is trading. Trading is good when you choose the right section to trade like spots, future and binary trading, jumping from different one to another could likely reduces your chances of how you could win for long on the market.
That is the best advice to any new, as first we don't have to find which trading we are doing like day trading, swing trading, long term trading. We need to find, which is good from spot, future or the other ones you mentioned, along the ones I mentioned. So we could take better decisions.
I first traded in future, it was not for me that I knew in like 15 days, I left, I started spot, I started small in spot, then left it too until I start investing for long term, and I find long term the best thing for me, now I prefer it over anything.
That is it!
You know when people do not always find their place they usually finds it difficulty while trading and whenever they have totally discovered where they are best fit you see them doing well and excelling in what they are doing. Just as you have said, it's good you knew it on time and focused on long term holding than keep jumping from place to places and keep losing money which is extremely bad to say.
+1 karma for you.
-
When first trading crypto, everyone must have made mistakes. and the most common is trading with passion without thinking long. Buy coins with the hope of getting profit soon, but the reality is different from expectations. Money is lost and regret, but if we have a professional trading talent, then those mistakes will be our experience so that we can trade better next time.
This is why, at the very beginning of trading, people do not think about possible losses and are guided only by the desire for fast and high profit. The lust of money can force us to act recklessly even though trading is not a job for the impatient person. Every failure we encounter becomes somewhat useful as they give an insight on how to deal with risks more cautiously. If you are able to learn from these mistakes you will over a time have a better strategy in avoiding being negative influenced by emotions or market euphoria.
But sometimes there are still people who do not want to learn from experience, have suffered great losses in trading because reckless steps are still repeated. This usually happens to people who are greedy in trading. Many opportunities that should be moments to gain profit, but the moment is finally lost because of excessive lust.
-
That is it!
You know when people do not always find their place they usually finds it difficulty while trading and whenever they have totally discovered where they are best fit you see them doing well and excelling in what they are doing. Just as you have said, it's good you knew it on time and focused on long term holding than keep jumping from place to places and keep losing money which is extremely bad to say.
+1 karma for you.
I did keep losing money, which is bad but I was like made 2x or maybe more from investing long term but made 2x or maybe more in trading, so I make profit in long term and make lose in short-term trading haha.
BTW thanks for the +1, speaking of finding the interest sooner is the good thing, once we know this is not for us, just leave it, if we can do something else as in alternative and arn't making enough money from one we should move on but sticking to it might give a chance.