TRADING BLUNDERS

A big mistake a lot of traders make when they jump into crypto, like Bitcoin, is thinking they're gonna get rich quick. Many believe trading is an easy ticket to wealth without realizing that, just like any other industry, there are highs and lows. It takes hard work, the right info, patience, and time to really see rewards. You can't just join the police today and expect to be a chief next month. You can't join the army and become a general in a week. It doesn't work like that. Success in trading isn't something that happens overnight.

Some people prefer day trading or scalping just because of short term means of earning money. But they do not know that patience is very good in trader. That is the reason you will see swing traders and holders making the money while most scalpers and days traders are losing.

Just like on everything on which if you would be putting up yourself being that too confident on dealing with it and expecting that it could bring out success immediately. The wrong thing about other people is that they've been expecting too much on which it doesnt get in line on whats the real deal specially with trading. Acquiring up such skills wont really be that so easy and does really take up some time and requires tons of efforts on which you would really be that needing up to consider on grasping into it once you've seen yourself on doing trades. Mistakes are common but usually you will be able to adapt specially on trading mistakes on where you do make out those realizations along the way at the moment or time that you will be able to experience trading on which its inevitable. It do really just that depend on how you would be making out such acceptance. People do really just that become delusional at the time that they are on first time on experiencing such thing specially if they do saw that they can potentially make money then they do assume that they can be able to make money as well on easy manner, without even trying out to think on how other traders do able to commit or achieve such situation that they had that become that sustainable or profitable. There's no issue on making them to be an inspiration but dont make yourself that being too positive because it will be that making you delusional instead on which this is really that indeed bad.

I was listening to one trader on YouTube and be said, that it's better to trade once in a week or a month, rather than gambling on the market on daily basis. The reason why only a few traders are profitable is because they understand that they don't need to rush profit making in the market, they just need to take trades only when they have got to many confirmation of the direction of the market and even if it take them one week or month time of waiting before they take trade, they will wait.

It's also hard to keep up with scalping, so I'm okay with day trading only where 1 hr timeframe is fine for me because it's pretty safe as long as it's only in the spot, not in futures. So it's good that we know for ourselves where we are as traders level so that at least we can determine where we will place or place correctly so that at least we can minimize our losses that we may face.

I read you clearly sir, they mostly focus on the result of advanced and experienced traders instead of focusing and paying attention to process and the time they have spent before seeing such great results Yea it is really good every trader knows and understands what works for them not doing because someone else is doing it Less is always more in trading if you the less is always in the right direction, maybe not all the tk e but atleast majority if the time

I agree with this statement because it's true that people think they will be rich instantly by trading but I don't know if its only for crypto or all trades. But yes, i do understand what you mean here.

At least they have the right to do whatever they like with their hard earned money. Iin the end they will take full responsibility of the action they take. Every decision count, so every trader must be very cautious in what decision they make when they are choosing the right trading option for themselves. Most of them make impulsive decision based on the current price swing.

Trading offers bigger rewards, but it comes with huge losses as well, but I don’t think these newbies realize that since all they know is that trading is a get-rich-quick. And for that, they mostly end up trading at loss, because they’re not actually good and skillful traders, but are just greedy for money that’s why they rush into trading even without adequate knowledge and experience. There’s no shortcuts for trading success, but certainly mistakes and losses prior to the exciting part of trading.

Placing a trade once in a week or a month, I believe we all have different mindset and principles to abide by in the market. Mistakes are made and corrected, that's how we grow in the market. We don't relied on a particular trading strategy or a mentor,  we learned and practiced exactly what we've learnt. Don't rush into the market, no one will be happy watching his portfolio getting liquidated after streak losses in trades. We ought to be extremely careful with whole system, focusing more on the hanging that explicitly open up our weakness in the market. Listening to crypto YouTuber, one can either take his or her decision after consulting more angles of profiting and losing, take bold step in the market.

I suppose it's mainly survivorship bias coming from the fact that some of the successful traders or so called trading guru always become the loudest advertising their trading course while we don't really know whether they're profitable or not. so people's expectation become high and think they can turn around their life by simply trading while in reality, we're just retailer with no knowledge and tools against the whale in the market. this is why it's important to show the reality to newbie trader, a little glimpse toward liquidation news can already do wonder to keep their expectation in check as to not waste their own money unnecessarily. basically saving them from impulsive buys or FOMO.

Trading is a skill and must be learned well before getting good profits, some folks thinks that receiving signals from presumed successful traders is a guarantee for having profits, but they always end in loses owing to their desires to shortcut success. Those signals comes mainly from those who don't trade themselves, just making some random predictions on the market movement. Trading work with accurate information on market movement and trends that drive such movement. You've got to understand what you're really doing and factors that would prompt your decision. It's also bad to trade everyday, that actually gambling on profits. Trading is a tactical activity and should be carried out with very much precision to be profitable.

But on the other hands, trading has a potentiality to guarantee wealth in a short term but the hedge to the actualization specifically depends on the traders knowledgeability to trade efficiently contributed to trading strategies, experience, emotional trading psychology, time and how financially equip you are. Some traders hasten to clock into trading just after having certain little funds and basic knowledge believing they are certified and good to ride on but on along they fails because they were not properly equip.

One of the reasons to why many re interested in trading nis because they want to make money and earn some vital amount of profits on their investments on trades, but this shouldn't be drawn on wrong priority for an instant means of income generation, instead it may be a gradual , steady and continuous means to earning income, also, learning to know the best trading strategies to start with and how one can manage the risk is very important before starting, this will also help us towards getting the required expectations we have for going into trade.

Yeah alot of traders and investors think that trading is one quick money making processes, but it is but not necessarily in a short while,some tend to invest for short term cause they want to generate profits in no time but still yet one require patience to be able to maximize such huge profits and be sure that the investment would guarantee much wealth. Yes no doubts trading actually guarantee Wealth overtime and one is aware of it's ups and down and this is why it is needed to be more patient with it cause it's all gradual process.

Risk-management would delete such thoughts in no time. Proper risk-management, that is

Those of you who are already aware of such things should be able to provide that understanding to people who still don't understand any conditions in trading and investing. Because any wealth certainly cannot be created overnight although it is possible to happen when there is a greater increase in prices in the market. But as has been seen, the volatility of the price movement of any coin in the market always occurs due to certain influences, either decreasing or increasing.

The complicated parts of life and the complicated facts about life are what confuse some people. The economic situation of the country is getting worst day by day, and it is affecting them economically, mentally, socially, physically and psychologically. So with the current situation the only thing that comes to their mind is how they are going to make money easily and faster to stabilize their financial lives. Trading and investing doesn't work that way. Just as you said, before someone could be at a higher rank and be successful, hard work is very important. Dedication, selflessness and Contentment are also essential to be successful. Trading is unpredictable and outcomes are uncertain and it is not a get rich quick thing, the same thing applies to investing, you need to work very hard to get to your destination, also be patient, be composed, be knowledgeable and be contented, no amount is little as a profit, oppose anything that has to do with emotions e.g fear and greedy. Stick to your dreams and desire and you will be able to achieve your goals to be a successful person.

Trading with bitcoin is never an exception. You lose and take profits, but there’s still chances to lose again and again if you trade blindly with bitcoin, and if you’re having a wrong mindset that bitcoin is a way to get rich quick when in reality, getting rich quick is a big lie, you need to do a lot of hard work and work on your skills and strategies first before you will gain chances to be profitable and get rich with bitcoin.

Funny enough I also made this mistake when I first started trading, I was misled and i lost heavily .  I was made to believe trading gives wealth. Of course the few traders I knew then where doing well for themselves, so I believed I  could also make it with my little knowledge. However, things didn't go as I expected and it had a great impact of my emotions. No one should get carried away with what people say about trading out there. They should make sure that they learn all they need to know about trading, practice alot and prepare their minds for anything. Yea, trading is risky, therefore they should work hard to manage those risks effectively.