Your 10 Worst Enemies! as trader

[Maroua 1159]

All what you mentioned is true, the professional trader must be more aware and wise and he must control his feelings and control them in order not to control him and subject to a huge loss in the currency market, thanks for this post.

Edited April 30, 2020 by Maroua

[Honny143 13612]

Well you mentioned 10 thinks really damage our trading skills my dear friend but especially  ourself, its really more effect's our trading because we can't follows market conditions, and thinks in different angle and do mistakes, so always monitor market and our strategy also modify against market conditions.

[koussai999 1986]

I think that the most important of all is that you create a trading plan and work with it precisely because it controls somewhat the feelings that are associated with trading and money

[rekter 8129]

My biggest flaw as a trader is laziness and inability to make hard choices when there's enough money involved, and i trade with too big % of my stash, so that the sums are too big for my emotions.

[Zalaks007 543]

Yes these 10 enemies you mentioned are absolutely correct but don't forget to mention greed and also patience because without this two you can never succeed in cryptocurrency trading.

[Ayush Singh 1175]

Among these Enemies I think emotion is one of the biggest Enemies when we do trading the emotions plays a very important role it can make a huge profit and also at the same time it can make you suffer from a huge loss also so we need to control our anger and emotions. 

[DreamStage 2105]

Thank you for such useful trading enemies explanation.

 

I would also like to mention that both Stubbornness and agreesive manners are just products from being unpatient as patience provides you a more sort of self control and reliability on your investments thus making proper tradings on the right moments.

 

If you feel stressed out you might as well lose everything you have invested for.

[CryptoLover21 0]

Your information about the 10 worst enemies as a trader are very important to learn before trading and main thing is you shouldn't do trading in anger or in tired because patience is very important.

[Iriswolfgang 200]

On 12/19/2019 at 1:07 PM, Afrizal rahman said:

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.

We should have always the knowledge when we trade because we must prioritize getting the upper hand and taking advantage in a good way and we should follow your tops because it is truly helpful here in cryptocurrency and it is easy to understand

[Virgil dijk 1431]

Yes you are very this 10 characters are our worst enemies in crypto , to be successful we have to avoid them, being. Successful trader we must avoid this characters and abid to the rules of crypto.

[DApp 1]

Helpful and useful information you got here, thanks for sharing. Personal i have no enemy when it comes to trading. To me trading is all about - buy when coin/token market value is low, hold for a while ( may 2-3months) then sell when the coin/token gains value. I love holding; for instance i bought some BTC early this year, now look at the current BTC price value and i'm still holding ... 

[Iriswolfgang 200]

11 hours ago, Virgil dijk said:

Yes you are very this 10 characters are our worst enemies in crypto , to be successful we have to avoid them, being. Successful trader we must avoid this characters and abid to the rules of crypto.

We need to become aware and always avoid using that characters because it can lead up to use to be banned or reported here in cryptocurrency. I think that if we are able to earn here then it will be easy for us to continue what we are doing here

[Zaino34 0]

For the success of the trading process, it requires a lot of attributes in addition to the sufficient experience in this field and the points that I mentioned are very important to the success of the trading process, we must keep our emotions as far as possible from our work in trading and be brave enough to carry out winning deals and get away from greed and greed in order not to lose our money and trade rationally Exactly

[Mwangi 5611]

I have been trading for years right now and it has been a little bit good idea for me to really define the idea of a good challenge, there is a lot of good effort to be used to make sure we are all able to balance ourself in the instruments of this workd of trading, but the biggest challenge I usually find is the use of emotions, so we are usually self inflicting pain when it comes to  making mistakes in trading we are all trying to make mistakes all the time its important to value what happens when we are trading, the effort is to make sure that we are able to keep ourself contained , understanding the principles of money management , that works perfectly at all times.

[ben123123 152]

Your provided list of enemies of crypto market traders are some good and some not really our enemies such as eager of earnings high profit or return on investment. Because people wants high risk for high profits. And some takes low risk for trading. My experience our dangerous enemies of us is fear of losing. 

[Young001 155]

On 12/18/2019 at 9:46 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.

 

Indeed many have fallen prey to one of this. Thanks a lot for the insight. It is really helpful.

[Dark_Sky 8489]

You're right about that, also for me the biggest enemy as a trader is ourselves, why? 

Because we are the one who will going to decide and the one who will going to think about if we going to do a trade or not. 

Sometimes it's risky and we need to decide if we going to take a risk. 

[Moaz 7239]

Your post is extremely important, especially for traders in the crypto market, and these ten points are among the most important reasons for losing any deal and thus losing money at any moment and any trader should avoid any of these points in order to have a successful deal

[TimopheyKa 3900]

Thank you very much for this information! It is very useful for us, because it is real, many factors affect our collapse in the field of trading and storing cryptocurrencies, we lose and gain a lot. You need the concentration!

[Guru2050 8284]

Thank you for a making a very wonderful publication, if one has ever try trading will amicably agree with you they are the enemies of a given trader, the solution to this 10 things mentioned is to be patient and ability to overcome your emotions, learned from your mistakes, then changed and move on with the trading

If you remain committed and dedicated you will never cease to grow (success)

[Whited35 15285]

5 hours ago, Moneyguru said:

My biggest problem in trading, is greedy when I'm already be in profit, I'm always want more and more , so when the price retrace back i dont get anything, thats why we must have a target in every trade. 

Excessive greed without proper market analysis will cause the excessive losses in the cryptocurrency tradings. A little bit greed is common and normal for all the cryptocurrency traders because without a greed for profit, who starts cryptocurrency tradings just to loose 😜? 

[yato987 2811]

i do agree with everything you said especially 1 and 3 , when you lose it is ok just forget and start again , never keep holding something will make you lose more ,, and also always gain knowledge from the old traders that have more experience than you and keep on that even if you learnt a lot, because doesn't matter how you learn and become successful you may fall in a second

[benalmoh88 1500]

you are right, i'm traded in MATIC without stop lose, the buying price was 274 Satoshi and till today i'm holding this quantity and i hope for each time the price will be increase for selling my coins but the price is always down

[BTC Future 3946]

On 7/25/2020 at 9:25 AM, Moneyguru said:

My biggest problem in trading, is greedy when I'm already be in profit, I'm always want more and more , so when the price retrace back i dont get anything, thats why we must have a target in every trade. And Also i'm forget to put my stoploss, so when the price dump, i'm loss too much, my stoploss is always about 6-8% . And i will always trade leverage with max 5x

Besides a stop loss you must set in your plan to "take profit" at certain level. The plan contains both and trading means that we should be profiting. Even a small profit is worthy, just remember to plan accordingly and stick to the plan. Do not change your exits in the middle of the trade.

[Solex 2262]

These are indeed some the enemies of Cryptocurrency traders and we have to get rid of them if we really want to make it in trading but from my own point of view ignorance is the biggest enemy any trader need to fight because without knowledge and experience about the field you are going no where and you can fail at any time.