Post
Topic
Board Trading Discussion
Re: When Trading becomes Unfavourable
by
KupaCrypto
on 31/12/2023, 05:18:28 UTC
This is a common mistake of new traders. They intend to lose money because they don't have 1 final decision everytime.
Best example is when they open their trade, they don't have a plan like how much is their willing lose on every trade, when is the stop loss, and what is target price.
Some don't have stop loss and they are hoping their entry will recover.
This comes down to greed , and you can also look at it as risking everything, most times they don't intend to loose the trade, they take the bold step of not including stop loss because they are aiming for something bigger and huge,

I once open a trade without the stop loss, I was ready to loose everything in that account, and I had a set target of winning, the trade went perfectly as planned and I made profits , so in this case I risked everything to profit something.
I think that's the risky thing, some people think that it's good to risk everything and if you get it once then you think you may get it again, and that causes some trouble. I am not saying that it is going to be all that easy, we just need to focus on something that will change in the end. I get that we are talking about something that should not be a big deal, we just need to consider that as an option.

You look like you are someone who is aware of the risks, but not everyone is like that. If some newbie had the same thing, they may think that it is going to end up with something much larger, like they may think that they are going to end up with a win each time and make mistakes, so we should consider that as a big risk.
Most newbies Nowadays don't Have the patience of waiting and learning deeply, they just Wana invest and cash out profit immediately, which if they happen to be lucky in most cases it might work out for them, but in situations were they aren't lucky they will loose everything,

 I believe taking risk when it comes to trading and Betting should be managed, because in a blink of an eye you can loose everything that took u so long to get,