Post
Topic
Board Trading Discussion
Re: Common Errors of Trading
by
Yatsan
on 12/10/2018, 22:31:15 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

4 and 5 are very relatable, i always change my plan if any unexpected event on the market happens. There are a lot of things to consider changing the plan but mainly because of the price. Being greedy is not an error at all since market is volatile the price variation will going to give you that feeling especially when the market drops, weak minded trader will panic sell while some big fishes will take the advantage to buy however you must have things to consider also like the price chart, datas and market season.