Your 10 Worst Enemies! as trader

[nicolas1234789 2566]

The biggest enemy of trader is their psychology, fees and public opinion. You need to handle first before enter the market and replace order. Look's easy but need disciplines and time to handle it and accept all your result as reality also necessary.

[MohammadMohsin 569]

Thanks for this information. You're absolutely right. Cause these are the worst enemies for a crypto trader. 

[babaji 1228]

You should also add Procrastination. Some people are so fearful of making mistakes, that they will never take the leap and even start trading. You can only learn if you make mistakes. Its like being so afraid of death, that you never ever live.

[Naga 1250]

22 hours ago, amiraliko said:

One of the biggest ones I can see is buying high and selling low. now you may think that's obvious but people who bought coins back in $19k bitcoin range are afraid when it reached $3K and they decided to sell because they think it will go even further down.

i think a lot of people get anxious when the coin price starts dipping bellow their buy price and for me i used to be like that but i learned the market will come back in cycles.

[Sid 589]

Point no. 3 and 5 I often encounter when trading so that I suffer losses because they do not follow the bitcoin price movements in the market

[Laboni 755]

We're here to work. No enemy came. I have never used the things you mentioned here. When doing business I usually do business with reliable sites.

[dinabolt 514]

You forgot about manipulation and network, those are trader can't control and always there as biggest problem. All your list is true, in my perspective everyone can handle your list except what I mention. Those " X " factor can make you lost in second.

[Sapdrx 469]

For me personally the major risk is my emotion. I sell too soon and buy often when prices are too high. So my worst enemy is actually myself 😁

[guatazoo 7150]

19 minutes ago, Sapdrx said:

For me personally the major risk is my emotion. I sell too soon and buy often when prices are too high. So my worst enemy is actually myself 😁

I think to specify it your worst enemy is FOMO (Fear of missing out).

[miskyming 1588]

Well for me greediness is my top enemy because when I'm already gain profit, there are 2 things that coming into my mind, sell it now or keep hold for more earnings.. and I choose hold, but suddenly the price was dump.. too bad that I didn't sell my coins when  it is high, I lost the profit instead.. greediness is my top enemy. 

[ShakilA 373]

This 10 things is very harmful for every trader's.This is one of the main enemy for traders

[Syedbesharat 5423]

On 12/18/2019 at 1:46 PM, 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.

 

I think Euphoria is biggest enemy .when you feel invincible and their comes your doom.So always bend to the scenario  so you will not face loss.

[Sourav43 106]

I haven't traded yet. So I can't say what are the problems facing the trade and who are the main enemies of the trade.

[fo1lluko1l 487]

 

11 hours ago, Fabrick said:

I thought I the most and the biggest enemy of the Crypto users is Scammers. They are making a bad effects to the whole users from long time we should avoid them

They do not just influence those who use cryptocurrency, they just make cryptocurrency the currency of criminals and many people think that cryptocurrency is used only by those who want to break the law

[Naga 1250]

14 minutes ago, fo1lluko1l said:

 

They do not just influence those who use cryptocurrency, they just make cryptocurrency the currency of criminals and many people think that cryptocurrency is used only by those who want to break the law

well we cant actually blame scammers because if we do that then we should as well blame gmail for the spammers that we always see on gmail, its just the people who need to be aware not to fall for these scammers.

[Nakamoto 279]

Thank you for sharing this useful trick. Everything you mentioned proves that muffling emotions or self-control plays an important role in trading. But do you think anyone can do it?

[Md Yousub Ali 880]

Thank you for shear this good topic, but what should we need to avoid in online trading place?

[Saif588 84]

There are many  enemies . they are very harmful and they often cheet with us. So we must be careful.   

[Ms.o 3322]

You said it all right. Dealing with crypto currencies doesn't only need knowledge it should have also proper handling of our emotions. This is the most enemy,if emotions are not handled properly,your trading mood will be ruin.

[Darkelf11 262]

In order to be successful in trading, one must have the courage to look forward and face every hindrance. Doing so will give a boost in confidence and a good mind set. Do not worry much.

[Naylor89 1223]

The trader needs to get rid of such quality as greed, because greed leads to the loss of all means. Money should be treated as an instrument. I was greedy and I lost more than $3,000.

[Rickso 768]

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.

 

it can be just one, self control.  if you don't have self control and you will not follow your trading rules that you created since the beginning then you will lose a lot in trading.

self control guys, and you will be a better trader 

[Linkkoin 116]

1 minute ago, Muhammad Muqadas said:

No its not but this a bad wealths that islam not allowed to this

speculation might be bad and against some religions - but you can always use cryptocurrencies as a tool for fast transfers abroad (XRP), for the delegated apps (ETH), or to save your privacy  (XMR).

[gigabyteRTX 1583]

A very good ns interesting and lastly a useful content, as I see you've greated good topic that talks about the issue about the enemies of crypto war.

[samislam 403]

trading is very easy but getting ready for that is too hard.personal development and physiology of trading is hard to adopt fast.traders need few years sometimes to set up their mentality.those 10 are germs for trader and kill them fast before entering