Usually we face this problems during first year of trading. Most of people by the end of year losing all of money and quit trading forever.
Basically this caused by overtrading and having no idea what to do. Like many business in our lives trading require some abilities and technics which you can study and apply to get good results. But when you are novice trade you probably don't even know where to start.
So on the pic you see basic problems and solutions to start from:
- Worried about trades all day and night
This point distracts from important things and giving huge depression in your live.
- Losses affecting personality and mood
When you starting to losing too much, it often hard to get money back, moreover trying to recoup will give even more loss.
- Mindset confusion
Like every depression in our lives it confuses our abilities to think clear.
- Rushing for new trades
Overtrading is common mistake, causing huge losses from impatient traders/investors.
- Trading assets for all of your money
If you ever tried trading for 100% of your money — write me a comment!
This problem causing new traders losing too much, and trading become gambling.
- Plan your trades
Focus on the future trades, plan your entries, take profits, stop loss. Like every business it should be planned and if something not working you have to fix it and try again.
- Take small trades
In trading Small is BIG, start with small trades, don't give rush, if you will not be rich till the end of year it is okay. But first learn how to trade and make sure you learned from mistakes and wins.
- Focus on affordable risk
Yeah, just 10% from traders have profits every month, rest of traders struggling somewhere in the middle. To make sure you will be in 10% winners, try to understand your risks before opening new trades.
- Use trading system
Trading system is something which suits your personality, you have to try different strategies and technics before understanding your trading criterias. But once trading system is setup, you will be fine and closing months in solid profits.
- Take breaks in trading
Make sure you have some time for other activities, try to plan your trading time and sometimes on the market is nothing to do, so take a breath and relax. Market won't go away :)
👍I appreciate your likes and comments below this post, lets discuss our problems in trading! 💬
My last few trades at the moment I rode the 100% gain on doge train without any leverage on July 7th because of this obvious Tik Tok pump and dump scheme. Shortly after that I took my profits and threw it all on ADA even tho my entry was complete trash. (0.129 USD) 3x long it went down around 20%. But with the power of my 3x and patience I was honestly not worried and knew it would come back up after looking at many charts and having a decent understanding of market psychology. I am now in profit even though its small I intend on holding this trade for up to a month. This is perfect for me because Bitcoin has been a real bitch to trade at the 9k levels and it feels like its way out of my experience to make profit on it. When Bitcoin establishes an obvious trend up or down then I will feel more confident trading BTC again. Hopefully you guys take this small bit of experience and learn something from it because this market can absolutely destroy you in a way you thought wasn't possible.