Post
Topic
Board Trading Discussion
Re: Common Errors of Trading
by
Fluer
on 12/09/2018, 08:22:12 UTC
Here are some interesting facts about trading I stumbled across from CryptoCred which I think may be helpful
Common error to avoid when you day trade, I modified some to reflect my own opinion.

1. Revenge trading, trying to get back a trade that has been lost or chasing a trade.

2. Never using a Stop

3. Not having a plan (Risk/Entry/Exit/Stop)

4. Not sticking to your plan

5. Greed — risking too much/not taking profit

6. Being too emotional about a trade.

Plug these equity drains & increase your odds of being profitable.
 You could add to the list and make better trades

Also to this list I would add:
1. Not to diversify investments;
2. Do not follow the principles of money management;
3. Open long positions on asset which already has grown up;
4. Buying cryptocurrency according to rumors.

Can't agree with your point 4. The price is growing on rumours I would say. There is a saying like buy on rumors and sell on fact. This is not my own invention:) however, it works:)