Hello my friends today i want to talk with you about most common mistakes in trading from my experience (any market but specially in crypto)
And after reading this i hope you will avoid them
1- Not Patient Enough :
I think this is one of top major reasons for failure in cryptomarket
Most newbies in this Field are thinking they will be rich in few days thats completely wrong ...Any old trader here will tell you how the patience will paid off
2- More Than You Can Afford To Lose :
only risk what you can afford to lose ...
more than that will lead to alot of mistakes and you may close your position after any small drop before reaching stoploss point and thats wrong my friends
3- Not Using Stoploss :
Stoploss is important but i recommend manual stoploss by candles closing not automatic one to avoid manipulation in market.. if you dont know difference between manual and automatic read my previous idea about it
4- Over Trading :
Alot of trades every day wont make more money ...instead, it will make you more stressful and staring at charts all day resulting in more mistakes
👉Fewer in numbers and higher in quality trades per week or even month are enough
sometimes best thing you can do is not trading at all when market is uncertain
5- Emotional Trading :
Both fear and greed play big role in the market movement
When you see most of people are greedy you should start taking profits partially ..and also try to avoid selling during panic sells
6- Revenge Trading :
Like using all wallet to buy one coin (all in) or doing high leverage postion to recover losses fast usually end in liqudation or big lose and leaving market completely
This market need you to be flexible
7- Ignoring Your First Plan
alot of very good plans and managements from start but you continusoly change it by listening to other random people opinions
trust in your self and trust in chart
no problem from taking advices from more experience people but you should trust in yourself first by have your own view and own plan
How many mistakes you find yourself doing it ...choose the number from above and tell us in comments
And after reading this i hope you will avoid them
1- Not Patient Enough :
I think this is one of top major reasons for failure in cryptomarket
Most newbies in this Field are thinking they will be rich in few days thats completely wrong ...Any old trader here will tell you how the patience will paid off
2- More Than You Can Afford To Lose :
only risk what you can afford to lose ...
more than that will lead to alot of mistakes and you may close your position after any small drop before reaching stoploss point and thats wrong my friends
3- Not Using Stoploss :
Stoploss is important but i recommend manual stoploss by candles closing not automatic one to avoid manipulation in market.. if you dont know difference between manual and automatic read my previous idea about it
4- Over Trading :
Alot of trades every day wont make more money ...instead, it will make you more stressful and staring at charts all day resulting in more mistakes
👉Fewer in numbers and higher in quality trades per week or even month are enough
sometimes best thing you can do is not trading at all when market is uncertain
5- Emotional Trading :
Both fear and greed play big role in the market movement
When you see most of people are greedy you should start taking profits partially ..and also try to avoid selling during panic sells
6- Revenge Trading :
Like using all wallet to buy one coin (all in) or doing high leverage postion to recover losses fast usually end in liqudation or big lose and leaving market completely
This market need you to be flexible
7- Ignoring Your First Plan
alot of very good plans and managements from start but you continusoly change it by listening to other random people opinions
trust in your self and trust in chart
no problem from taking advices from more experience people but you should trust in yourself first by have your own view and own plan
How many mistakes you find yourself doing it ...choose the number from above and tell us in comments
Comment:
in continuous green days ..always take profits partially and set stoploss above entery point for rest after target 2 hit and dont use all wallet ..must some free USDT to buy deep in situations like this
