The most misguided mindset of traders

This is why many folks end up losing cash when they try scalping and think they're just not cut out for trading. Instead of going for swing trading, they stick to scalping and keep on racking up losses. Some just stick to day trading and set stop losses because they aren’t into small gains, yet they still end up in the red. The most misguided mindset is believing you can make money every single day through trading. I’ve mentioned this before here, I once had a duel with someone starting with $50, and I ended up losing cash on 10 out of 30 days. A trader who can’t transition from scalping to day trading and keeps losing, or who can’t shift from day trading to swing trading without failing before hitting the exits, isn’t really a solid trader yet. These traders often rely on high leverage or toss in a lot of cash and freak out over tiny price shifts. Honestly, swing trading is probably the best approach out there since it rewards patience. It’s kind of hilarious when you think you’re losing, but then the market suddenly flips the next day and you don’t get wiped out, still ending up with some profits.

Well, for me, it really depends on the trader. Like some will are good in scalping, some are in swing trades. It just a matter of familiarity and which part you are good. And for me this is not really an issue, if in scalping you are making good and enough money, then that's already good, you are still a trader.

Stop loss order is important and helpful for traders no matter which trading methods they use. The biggest role of stop loss order is defending initial trading capital that is most important for traders. Without trading capital, without money, how will traders trade? A stop loss order can be set up and filled at prices to help traders having either a small profit, a draw or a small loss but all of these stop loss results are good for traders. If they can avoid big losses, they're good and ready to return to the market with new trading positions that can be better than a closed order by stop loss and can help them getting profit in the future. One of best weapons in trading. Awesome cryptocurrency trading. Learn cryptocurrency trading.

I guess every trader has to experience that. They think at the start that it's quite easy to trade and profit, but it's really not. It's really about being in the right direction and making sure that you are in fact with the trend. There are more layers to trading, and the important one, for me, is the risk management. It's not just stop losses but also position sizing, R:R(risk:reward ratio) and making sure that you are not emotional. These are the biggest and important thing that I have learned in trading.

Trading can make your profits and also losses regardless of the level of your expertise in trading, what is important is the level of your risk management, greed can happen to you on any of those trading types if you allow it and that will ultimately results into learning losses at a point, just let me gambling cryptocurrency trading sometimes could be unpredictable if the assets you bought just decided to go against your positions direction quickly, so yes patient can be said to be the important trading tool that could keep you from losing all as long as your positions stays open.

Swing trading might seems like the best trading strategy to you if you always makes something out of it no matter how bad it looks like, or if you truly knows how to follow through on being profitable, but if you don't know how to execute it properly, it will be a total nonsense strategy, that is how scalping is to others that knows how to navigate their way around it. Scalping requires quick decision making, and their are some folks that are good at that, but are not good doing day trading, so I would only advice that in trading, it's best to evaluate yourself and your strength and work in accordance with what you are actually good at, not what you sees as the best strategy people most traders a using.

There will not always be trading opportunities in the market, and if you as a trader have a target to trade and make profit daily, you will be forcing things and entering trades that are not A+ in their setup, trades you are meant not to take. Good traders know when to enter the market and when to stay out of the market. Your goal as a trader should be ensuring profit and minimizing losses. In a trading week, if you are able to take one good trade where you maximize the profit, it will still end as a profitable trading week for you.

This is easy to say, but the market can not always be friendly. There are times as a trader enter the market after making use of analyses and indicators to enter the market, the market will still go against the trader. The chance this can happen is very high but risking small amount of money and following good strategic plan can still help in making profit or minimizing losses. It depends on which trader are you. There are many traders that will maximize profit but the week will end in higher losses because of the huge risks that they are taking.

I agree with this one, I know someone who do scalping and if the position is losing, he will then try to turn it to day trading thinking that the market will flip but the problem with this one is you do your technical analysis base on scalping (low time frame) and if you're going to change it to day trading because you are in losing position and hoping it would flip that's different story since higher time frame shows different behaviour that's why when you reach your stop-loss, you should respect it since it's purely technical and if you don't follow it or don't really have a stop-loss, then it's not surprising since that most traders lost.

And we should also be honest when evaluating our own skills. For me, I’m not really into day trading anymore. I tried it before but it didn’t work, it only made me stressed and I ended up losing money. So now I’m more comfortable with long term trading. I just buy during the bear market and sell during the bull market, that strategy has worked well for me so far and I don’t really plan on changing it. I know it’s tempting to think about making consistent money from day trading, but if it clearly doesn’t work for you then there’s no reason to keep forcing it.

The safest way to approach trading is the spot trading. While non spot trading can seem to be very profitable in reality it becomes very dangerous. There are exchanges that always promote these choices, eventually some people will fall for them and give their money off to exchanges. Because these are all essentially gambling and not actually trading. Flipping is fine, make money from that and stop for a while. Dont get overconfident about profits after getting quite a few quick flips.

So unfortunate that day trading couldn’t work for you. Truth be told it quite stressful and frustrating at times but when the full mindset and time is given to it then the body system will adapt with the changes and stress. Within few weeks then we wouldn’t feel much stress about it and for stress free we can make sure we only open one or two positions in a day with proper risk management.  I’m a day trader and it doesn’t seems quite stressful to me or maybe it because I have given it all my mindset and full submission maybe that why. At times when the market goes other way round and everything in the market looks overwhelming I gladly go for scalping and make quick and fast profits despite the risk involved I still go for it with caution. Day trading is absolutely profitable and at the same time risky but with right strategy and analysis we can make good profits from it. So you left day trading and went for long term trading, that not a bad idea at all and I’ll just assume day trader might not be for some people maybe you have other activities you do in real life that take your time though.

These practice by most traders are born from not accepting the reality on ground, that their analysis was wrong, but instead they leave it open, believing to regain back their losses, and sometimes it's cause by trading with what they cannot afford to lose. I can't deny that in most cases it might goes in their favour, while sometimes it still goes against them and they lose even more, but in my own perspective, once a trade that was meant for scalping lingered on and later kept open as day trading, it no longer trading, but more of gambling, since the trader is now hoping on luck, than certainty.

Yeah I can’t deny that, I actually tried really hard before because many people were saying day trading can bring consistent profit, so I tried to get good at it but eventually I realized my limits. That’s why I decided to go with the easier approach which is long term trading, just like I mentioned earlier. I’d rather buy and hold for a while instead of stressing myself with daily trades that don’t really work for me. We all have our own experience, and day trading is just not for me. I’d rather use my time and effort more effectively, especially since I’m already running a business outside crypto. My main interest here is really just to HODL, although not a pure HODL since I still take some profits when I see a significant gain. But overall, just like the current situation, I see this more as an accumulation phase.

I'm not sure it's right to call any kind of trader not good simply because you view it from your own perspective and experience. The market is very broad, everyone has a particular timeframe he enjoys trading the most. The idea is to make profits over time. Swing trader should understand the basics for swinging on the HTF same thing goes for the scalpers...Don't trade an amount you are not comfortable losing. Most traders panic too much when they see the market going against their direction. That's simply because they have risked more than they usually do. It's easier to leave a winning trade till full tp when you have no use of the money and sticked to your normal risk..but be sure to protect your capital at all cost..

Whether day trading or scalping as a trader, the bottom line of it to assess you is to know whether you’re making money off it using that approach or not. Day trading and scalping are just two forms of trading that if any befits your trading strategy, you can apply it into your trading. The end goal is profitability, and once you’re able to make profit off your trading strategy, you’re sure to be called a profitable trader irrespective of if you hold it for long term or not. From the perspective you’re viewing this could be very much different from how others view it, your view can’t be disregarded just how others own can’t also. In the end, it all balls down to your understanding and how you’re able to manage and perfect yourself in the market.

This is what I have known about new traders, some of them will learn how to trade, start to trade and the loss of money will begin, they will later have to quit trading. Some of the traders will continue to learn, being encouraged with the saying that the more you stay long in trading and having experience, the more your chance to start making money, but this is not true because as some people use months or years in trading, they will continue to lose. I learned my lessons also, there is nothing better than holding.

A saying that will not apply to those who cannot control themselves and cannot master analysis well even though they have been in trading for a long time. Even the so-called professionals can suffer even greater losses, so there is no guarantee that even if you are a professional and long-time in crypto trading, losses are bound to happen. Learn and look at the history of how you suffered losses and what needs to be improved.

Actually, patience is the key; don't rush a trade because it will always hit your SL. Learning swing trading is a good choice because it will teach you to be patient. There is no system yet that works for you if you keep looking at the chart with a smaller time frame below 30m. The wider the time frame you use, the more noise and false signals are reduced. Studying the price action and combining it with some momentum indicators will improve your trading, but keep your trades away in a shorter time frame. Backtest your strategy using https://gocharting.com/ for free and test your trading strategy via replay. If you have a higher win rate, you are successful in looking for a better strategy. You are now ready to try it on the present market; keep your risk low and never try to go all in. That's a gamble. You should have a stable RR to make sure you are profitable in the long run.

I think the major gaps between this two traders is actually one looking to actually make money quick from the market and the other one looking to actually make money with gradual process and not in rush just like with the investors who are patience and make money gradually. Both of this people are at risk but we cannot compare the risk of a scalper with swing traders because just the time frame at which both analyze on is actually one thing that shows their differences in risk. Every trader seriously has their own trading strategy and to be sincere in what OP said about Stop loss I am not totally in support although some people who use stop loss are actually very greedy. But I cannot say stop loss doesn’t works for me it works to my benefit.