Let others learn from your trading mistakes!

We’ve all had that one disaster that we’d rather forget when investing or trading :scream: in the spirit of learning from others mistakes and growing together, who would like to share theirs?

4 Likes

Never trade with your emotions. If you do, you will lose it all.

1 Like

One my most common mistake is to set stop loss too tight or to be too much confident things will go the way i envisioned :sweat_smile:

2 Likes

The worst thing I ever did in trading was sell 400 dollars worth of cryptocurrency for 4 dollars. :scream: Was when I first started trading. I thought It was a 0.12 sell and it was actually 0.0012. stupid mistake. Lesson learned that day was always, always double check before you ok that trade :dizzy_face:

5 Likes

:grimacing::grimacing::grimacing::grimacing::grimacing::grimacing:

So true…not to talk the times i was thinking to SELL and i opened a BUY…SUPEROUCH!!!

1 Like

Oh…here is another. One of the most common mistake i do is to overtrade. Sometimes i open too many trades in a short period of time instead of waiting for the things to clarify by themself.

4 Likes

My first mistake was trying to transfer BTC directly into a Nano wallet on Binance. I didn’t get that you had to trade!! Thankfully Binance was sophisticated enough to bounce it back into the BTC wallet. I could have lost it all there. But really it was just delaying the loss as Nano tanked not long after that.

I guess I got carried away Kaabayahaya says with emotions. I’d never seen gains like this before. The Lambo was within reach. It was a sobering experience and I feel much more stoic about prices even when they are going through the roof. I guess this is trading 101 rookie mistakes

4 Likes

Very true. It happened to me a lot at the beggining, but you need to take things easy and with patience in order to be at the point where you are making more focused decisions and with more flexibility.

4 Likes

You are right absolutely​:dart::+1:

1 Like

Which one is right to transfer BTC to nano wallet , usualy by scannin?:smirk:

1 Like

As for me , One day I was trading in one small russian trading and did all with emotions and it was going fine , but after later I lost all money like 5$ and I understood yhat it reqires patiance and knowlige of market

6 Likes

My mistake is taking more leverage and incorrect positioning of derivative trades. Beginners luck is for real and don’t assume luck will continue for ever. after a big win or after a series of winning trades , it is better to take a break as most of my big losses followed big wins because of inflated confidence

6 Likes

Welcome back @MrHumble! You shared some valuable information here. Why not stick around and share in some of the other topics as well? . We can all learn from each other. Great to see you again!

5 Likes

Hi @MrHumble…happy to see you here again! And yes, agree on that: beginners luck is something very real but it will not last forever. I remember my first trades: usually i set up those trades orders with small amounts of money and thinking twice before hit “SELL” or “BUY” buttons…did a bit of TA, some research on social sentiment, etc…because i was so novice on trading that i was afraid to loose…and those trades were successfully executed with small earnings(still earnings :sunglasses: ) for me.

Then, as time passed, i became careless a lot because i thought i was “the man” with a great successful ratio on trades made. Time took it upon itself to teach me how wrong I was. So i think you can always seize the chance of a bullish or bearish market but agree with you it is better to take a break between successful trades, just to clarify your mind :slight_smile:

5 Likes