Your 10 Worst Enemies! as trader

[azmo 75]

Here are the biggest threats to a trader:
 

1. Stubbornness:  Failure to cut losses and a continued pattern of staying in trades past their invalidation point.

2. Trading too big:  Once you take on large positions, it's not a question of whether major trading goes wrong, but when. If your risk size is too high, a losing streak will easily empty your balance and create a large draw down that is difficult to climb out of.

 

3. Arrogance:  Believing that, for no apparent reason, you are smarter than most market participants. Expertise has to come before confidence.

 

4. Euphoria:  The riskiest phase in your trading journey is the time you feel like an unstoppable god. Remain grounded in your trading plan. Some major losses are attributed to over-confidence and neglect of proper position sizing.

 

5. Opinion:   Individual perspectives are irrelevant unless you have a fully functional flux capacitor or magic wand. The core factor that contributes to a profitable trader is their reaction to the price action.

 

6. Anger:  An upset trader is a poor trader. Anger skews the expectation of a trader and leads to greater activity while you are poorly operating. Do not act forcefully, remain emotionally cool and trade the plan.

 

7. Adding to a failing trade:  Doubling down on losing traders makes you want to hold it longer, hoping desperately for a turnaround. Trading aggressively against the trend is generally not the best idea, and adding to a losing trade is bound to create losses.

 

8. Bias:  It's risky to get caught in bull-mode or bear-mode and can end in draw downs if you keep playing on a team that loses day by day. Continue your flexible trading and go for the ride. Staying on the losing end of a strong trend is costly.

 

9. Chasing a trade: Unless you miss a great entry spot and then price moves away, it's best to wait out the trade. It's easier to have a strategy and be prepared for the next setup. Most notably, Risk /Reward proportions will be skewed if your entry is too far off.

 

10. Themself:  the willingness of a trader to self-control can decide their long-term success. A successful trading system must be adopted in real-time market conditions after back testing with consistency and correct position sizing. On your path to trading prosperity, the biggest enemy you'll ever face is yourself.

 

[azmo 75]

56 minutes ago, Abanti34 said:

Thank you for giving us an idea of the ten bad aspects of your business.  Because if we adhere to these ten things we can actually move forward in business.  By following these we can be successful in trading.

thanks, glad you find it helpful , goodluck

[Afrizal rahman 2636]

The ten points you mentioned are truly our trade enemies. yes in trading we do not use these ten points. because we will be better if we avoid it. good luck friends.

[azmo 75]

1 hour ago, josh said:

Does this is all your experience being a traders in crypto business? But I want to add more things about this things. I think one of the most enemy of a traders was once you become impatience, it can lead you into loss of your coins.

 

yes some of that i did experience and some are just added ..  but thats all the better to think before entering trading, trading can make u rich in instant and can make u poor too 😃 

[patitaycute 648]

Anger and arrogance was the reason why you lose on tradings, if you can't control your emotions the result will definitely losing of crypto because you can't think critically if you let your emotions leads you.

[elexbaum 18]

Hey azmo,

I think you are right and like the others in this topic, I like the fact that you try so help the people here to make themselves aware of the problems under the surface. I agree with all the points of your list and am thinking about to pin them to the wall as reminder to be aware of them every time. Nice topic - thank you.

 

Best regards,

Alex

[zoony 24]

I think mining sites are worst enemy for me because I have high hopes from them. 

But at the last moment they want investment for withdraw.

[Fadzinator 285]

Feels like I am reading the 7 deadly sins, anyway thanks for this  information, it will help a lot. Indeed, The real enemy in trading is not everyone else.. but yourself. You need to overcome and beat your emotion.

[Yanadia 1517]

2 minutes ago, Fadzinator said:

Feels like I am reading the 7 deadly sins, anyway thanks for this  information, it will help a lot. Indeed, The real enemy in trading is not everyone else.. but yourself. You need to overcome and beat your emotion.

Yes it is good noticed it is really good information for phiscylogy problem when we want soing trading . I do must add it on my wall as reminder. That we muat be racional to be good trader

[Naga 1250]

2 hours ago, patitaycute said:

Anger and arrogance was the reason why you lose on tradings, if you can't control your emotions the result will definitely losing of crypto because you can't think critically if you let your emotions leads you.

anger for me is when i lose a trade and i be angry i lost so i start trading angrily just to earn what i lost back in the same day which is a pretty big mistake because  most of the time you end up losing more money.

[azmo 75]

5 hours ago, elexbaum said:

Hey azmo,

I think you are right and like the others in this topic, I like the fact that you try so help the people here to make themselves aware of the problems under the surface. I agree with all the points of your list and am thinking about to pin them to the wall as reminder to be aware of them every time. Nice topic - thank you.

 

Best regards,

Alex

thanks, glad you like and it helps you. 

4 hours ago, xpertt said:

Or you could say that your biggest enemy on trading is your self, because at the end of the day, you were the one who makes decision for your self so calm your mind before doing anything else.

easy and slow with wise decision 😃

4 hours ago, zoony said:

I think mining sites are worst enemy for me because I have high hopes from them. 

But at the last moment they want investment for withdraw.

there are lots of mining sites which are scam.. even if you pay or deposit a little, the guarantee of withdrawing it is still small 

4 hours ago, Fadzinator said:

Feels like I am reading the 7 deadly sins, anyway thanks for this  information, it will help a lot. Indeed, The real enemy in trading is not everyone else.. but yourself. You need to overcome and beat your emotion.

the rage feeling is the most scary one 😂

[SuperCrypto 7193]

On 12/18/2019 at 10:46 AM, azmo said:

Here are the biggest threats to a trader:
 

1. Stubbornness:  Failure to cut losses and a continued pattern of staying in trades past their invalidation point.

2. Trading too big:  Once you take on large positions, it's not a question of whether major trading goes wrong, but when. If your risk size is too high, a losing streak will easily empty your balance and create a large draw down that is difficult to climb out of.

 

3. Arrogance:  Believing that, for no apparent reason, you are smarter than most market participants. Expertise has to come before confidence.

 

4. Euphoria:  The riskiest phase in your trading journey is the time you feel like an unstoppable god. Remain grounded in your trading plan. Some major losses are attributed to over-confidence and neglect of proper position sizing.

 

5. Opinion:   Individual perspectives are irrelevant unless you have a fully functional flux capacitor or magic wand. The core factor that contributes to a profitable trader is their reaction to the price action.

 

6. Anger:  An upset trader is a poor trader. Anger skews the expectation of a trader and leads to greater activity while you are poorly operating. Do not act forcefully, remain emotionally cool and trade the plan.

 

7. Adding to a failing trade:  Doubling down on losing traders makes you want to hold it longer, hoping desperately for a turnaround. Trading aggressively against the trend is generally not the best idea, and adding to a losing trade is bound to create losses.

 

8. Bias:  It's risky to get caught in bull-mode or bear-mode and can end in draw downs if you keep playing on a team that loses day by day. Continue your flexible trading and go for the ride. Staying on the losing end of a strong trend is costly.

 

9. Chasing a trade: Unless you miss a great entry spot and then price moves away, it's best to wait out the trade. It's easier to have a strategy and be prepared for the next setup. Most notably, Risk /Reward proportions will be skewed if your entry is too far off.

 

10. Themself:  the willingness of a trader to self-control can decide their long-term success. A successful trading system must be adopted in real-time market conditions after back testing with consistency and correct position sizing. On your path to trading prosperity, the biggest enemy you'll ever face is yourself.

 

The first trader's enemy is passion and is the most important cause of traders' losses. The reason is due to their emotional preoccupation during their trading, so they are not committed to stopping the loss in the hope that the price will return above the purchase price, nor are they committed to selling when making a profit at a certain percentage in the hope of increasing more and more and thus missing the profit and the company's price falls to below the purchase price.

[bliznec 22267]

Most likely the pursuit of a deal. After all, it is worth it to chase the race and get a reward for it. Only here it is not worth rushing. 

[azmo 75]

Just now, SuperCrypto said:

The first trader's enemy is passion and is the most important cause of traders' losses. The reason is due to their emotional preoccupation during their trading, so they are not committed to stopping the loss in the hope that the price will return above the purchase price, nor are they committed to selling when making a profit at a certain percentage in the hope of increasing more and more and thus missing the profit and the company's price falls to below the purchase price.

this is where DYOR will enter before making an investment to the coins/token you will support to trade and making money

[Romaan1987 601]

wow. what a useful information that is. if we careful about these points we can earn profit from trading and losses chances will be less.

[patitaycute 648]

4 hours ago, Naga said:

anger for me is when i lose a trade and i be angry i lost so i start trading angrily just to earn what i lost back in the same day which is a pretty big mistake because  most of the time you end up losing more money.

That's why we lost crypto because we let our emotions ruining our decisions or tactics in crypto. So we must control our emotions and be wise and smart everytime.

[fuer44 1083]

everything you say is true, it is a statement that comes from feeling when trading. sometimes there is lust, greed, and euphoria. that's true, and sometimes we don't cut loss to wait for prices to go up again. but I think it's a natural thing to be a professional trader, because apart from analysis, we also need sharp instincts and feelings too.

[elexbaum 18]

After all, I cannot describe why, but the reasons must be within the list which started this topic, but every trade with a loss, even if there are only 10cents of loss, gives me in trading a bad feeling and creates the danger of not realizing a loss cause you think the price will raise again and you do not have to make this loss real... I think every trader have had this feeling once or more often

[Roomi 1119]

Thanks a lot for such a wonderful information. It is good information i will definitly keep in mind these points to be careful in trading.

[sportlopez9000 232]

The biggest enemy of the trader is time. You cannot wake up early enough or go to sleep late enough because the crypto markets are going on 24/7. This means that it is always too late or too early, you are not a robot. You can try to make a robot I guess to trade all the time, but then still it is too much information. There is too much information all of the time to take in, and you don't have enough time to make decisions so you make bad decisions. This is why most traders lose in their trading position or are not fast enough to react to market news.

[Naga 1250]

15 hours ago, bliznec said:

Most likely the pursuit of a deal. After all, it is worth it to chase the race and get a reward for it. Only here it is not worth rushing. 

well this is not an easy thing to do in crypto, finding a good coin and have the best entry just right before the pump comes would require some intensive research about the coin and following news about it.

[bentayebsalah 2280]

These rules can be considered as the trader's law of success which must be followed to be a successful trader and protect himself

[vivek jain 308]

The Bitter truth abut trading enemy is:  You are your own worst enemy in trading, as its you who make the one making decisions and your emotions are usually getting in the way and you are your own worst enemy.

[Sumayya 493]

One of my enemy that i can avoid is chasing a trade, when I see a trade going on i want to follow to be part of it

[Aereen 456]

Indeed, if one engages into trading one of their biggest enemy would be themselves, because you are going to be the one who is going to control your investment and with your decisions you are them going to be the one who is responsible of your profit. Sometimes we would tend to want more and would end up losing a good amount of profit instead.