Title: Beginner mistakes and how to avoid them Post by: Kara3 on April 24, 2023, 09:32:31 PM Most of the newbies in crypto space believe once they have a large capital they will definitely succeed in the crypto space, but they are wrong, not knowing that if you can't grow/manage a small account, you can't grow/manage a big account either, their are common mistakes they usually make an I will be giving out tips on how to avoid them,
* Over trading-- it's very important for a day trader to limit the number of trade he/she took in a day. * Lack of trading plan-- develop a strategy an stick to it, do not ever enters a trade blindly, if not the market will remove you blindly. * Failure to use stop-loss-- to me it's the most important thing I do while trading, an it's always close to my entry price, I do it that way so that if the trade didn't go as planned, I won't lose more than 10% of my margin. I don't if anyone have more to add, so I can also learn? Title: Re: Beginner mistakes and how to avoid them Post by: seleme on April 24, 2023, 09:59:07 PM Overtrading is a big problem for newbie traders who think it is better to scalp on small volume pairs rather than chase a big trend. Sometimes it works but after paying so much commission to brokers they understand something is wrong and decide to change their trading style. If the trader has no trading plan, it becomes gambling which can lead to a burst account balance sooner or later, from my personal experience. Using trailer stops on profit zones and having pre-determined stop loss zone will save traders with experience in this field, IMO.
Title: Re: Beginner mistakes and how to avoid them Post by: Nwada001 on April 24, 2023, 11:41:22 PM Another thing you need to add is self-control. There is one thing I have noticed regarding trading, whether futures trading, day trading, or even the forex market.
One just needs to have his targets mapped out for the day, and once those targets are reached, you stop and close for the day regardless of whether your trade is on the positive or negative side. When most newbies are losing on trades, they get so emotional that they can't even control their anger. They just keep on trading without proper analysis of the market because they want to gain back all that they have lost, which ends up putting them at greater risk. My advice is that once you enter any trade and you happen to notice that your strategy is not working for you that very day, you stop for the day and take a rest, so as not to increase your chances of losing your entire fund. Which might even turn you to be looking like a gambling addict. Title: Re: Beginner mistakes and how to avoid them Post by: sheenshane on April 24, 2023, 11:53:30 PM * Over trading It seems all these components have one source and it's "knowledge".* Lack of trading plan * Failure to use stop-loss This is very important in trading so that you can execute very well and have minimal losses. Those traders who didn't use stop-loss orders may also be more likely to engage in emotional trading, as they may be more inclined to hold onto losing positions in the hope of a market reversal. It should also monitor their stop-loss orders regularly and adjust them as needed based on market conditions. Another is to develop your trading strategy, it can help you stay focused, avoid impulsive trading decisions, and increase your chances of success. If you don't have all of these, it's hard to deal with the market movement. Title: Re: Beginner mistakes and how to avoid them Post by: Stable090 on April 24, 2023, 11:55:50 PM Most of the newbies in crypto space believe once they have a large capital they will definitely succeed in the crypto space, but they are wrong, not knowing that if you can't grow/manage a small account, you can't grow/manage a big account either, their are common mistakes they usually make an I will be giving out tips on how to avoid them, I do encourage people to start small in cryptocurrency, everything is not just about money, you just have to understand the fundamental of trading before starting, if you are planning to trade with large capital and you don’t understand the fundamentals, don’t be surprise that you will lose all the money. It’s not about starting big, it’s all about you knowing what you are doing, you might start big and lose all your money and you might start small and grow your account, it’s about you investing big, it’s all about you knowing what you are doing.* Over trading-- it's very important for a day trader to limit the number of trade he/she took in a day. If you are a beginner and you open too much trade, then you get confused at the end you end up losing money in all the trades, you shouldn’t be too desperate to make profit, it’s not all about you opening multiple trade, you can open a trade and make Good profit and if you open multiple trade you will endup losing money. Just make sure your analysis is right and focus on just few trades you can manage.* Lack of trading plan-- develop a strategy an stick to it, do not ever enters a trade blindly, if not the market will remove you blindly. Newbies lack trading strategies, that’s why some of them are always ending up looking for trading signals, some of them don’t really know anything about trading before they start trading, their are lots of signal providers now, so they are being deceived by those people. Some traders don’t know anything about trading and they are not ready to learn, they just want to make money, if you don’t have strategy you will be losing money.* Failure to use stop-loss-- to me it's the most important thing I do while trading, an it's always close to my entry price, I do it that way so that if the trade didn't go as planned, I won't lose more than 10% of my margin. Stop-loss is good but not mandatory, if you believe in your analysis and you will be online to monitor your trade then it’s not mandatory to use stop loss, but if you are the busy type then stop loss is not really a bad idea, and also i do recommend newbies to use stop loss, it will help them cut their lost incase if their analysis is wrong and the trade goes against them.I don't if anyone have more to add, so I can also learn? Title: Re: Beginner mistakes and how to avoid them Post by: Dr.Bitcoin_Strange on April 24, 2023, 11:57:58 PM OP, I think the first mistake beginners make is not really having a defined knowledge of trading before they put in money to trade, and secondly, not knowing how to manage their losses before starting. Also, seeing trading as a major source of income to only rely on is a mistake newbies can make.
When they are pushing too hard to make profit every day, they encounter losses, which will lead them to over-trade like you made mention of over trading, and at some point they are not going to make the right decision for the trade as they will just be focused on making the profit and covering losses that have encountered. A newbie who has not yet developed their skills on how to handle losses can suffer countless losses. For example, a friend invested $500 into trading, at some point he was only left with $200 due to losses, so he just came up with the decision to trade with all the remaining $200, saying "he doesn't care if that remaining fund is gone as well." Trading is not gambling, so it should not be treated as gambling, just as some newbies do. Title: Re: Beginner mistakes and how to avoid them Post by: SquirrelJulietGarden on April 25, 2023, 03:23:43 AM * Over trading-- it's very important for a day trader to limit the number of trade he/she took in a day. Over trading including over doing this when you are in a win streak or revenge trading when you are in a lost streak. Both over trading types are bad as it will cause you future losses.Quote * Lack of trading plan-- develop a strategy an stick to it, do not ever enters a trade blindly, if not the market will remove you blindly. Making your trading plan is good but not all plans are good. So you must be flexible to change your plans when you see they are bad, close your plans instantly and take a break to think of what are wrong before you can learn more, make better plans.Don't over making plans too. Quote * Failure to use stop-loss-- to me it's the most important thing I do while trading, an it's always close to my entry price, I do it that way so that if the trade didn't go as planned, I won't lose more than 10% of my margin. It should be Ignore to use stop-loss, not Failure to use stop-loss.If you reject the idea to use stop loss, you accept risk to lose capital. Failure of stop-loss barely occurs but it can appear if the market has very big change with Cascade effects make stop loss fails to fulfill its function. You can use Stop limit order to reduce Cascade effects. What is a stop-limit order? (https://academy.binance.com/en/articles/what-is-a-stop-limit-order) One of best weapons in trading (https://bitcointalk.org/index.php?topic=5173189.0) (Stop loss order). Title: Re: Beginner mistakes and how to avoid them Post by: yhiaali3 on April 25, 2023, 04:59:55 AM For me, my advice to beginners is to trade in the long term and stay away from scalping until they have a good experience in trading.
Patience and not being greedy are also important tips. These negative traits are the main reason why many novice traders lose. In any case, beginners should not enter into large deals at the beginning, and it is always better to enter with what they can afford to lose. Title: Re: Beginner mistakes and how to avoid them Post by: adaseb on April 25, 2023, 06:31:32 AM With crypto there are many mistakes a new person can make. The largest is not keeping your funds safe in cold storage. Many people get their funds stolen because they keep it in a hot wallet and on Windows 10 which is full of bugs. They get it stolen even without downloading anything fishy. Hence why you need a hardware wallet to protect yourself.
Another issue is that they invest in way too many scams. Nobody wants to invest in bitcoin because the gains won't be 100x. So they invest in alt coins like Pepe and they are surprised that they end up getting rugged. And lastly the worse is leverage. Many people shouldn't be trading on 100x or 50x leverage. The markets are way too volatile and its easy to get wicked out in minutes with that leverage. Title: Re: Beginner mistakes and how to avoid them Post by: michellee on April 25, 2023, 06:42:43 AM Having large capital does not guarantee that they will succeed in crypto because it depends on how good their skills and expertise are in trading. Apart from capital, one must also be able to control himself in trading so that when the market changes direction, he will not panic and can adapt to the market.
And our concern is only to use the money we can afford in trading so that if we experience a loss, the loss will not be too much. Don't trade if you have doubts about entering the market because it usually won't go well, so you better take a look at the situation first. It is important to learn to trade more than anyone else so you can analyze the market before entering it. Title: Re: Beginner mistakes and how to avoid them Post by: monineklutak on April 25, 2023, 07:06:20 AM For me, my advice to beginners is to trade in the long term and stay away from scalping until they have a good experience in trading. It's really important for beginners to gain experience because sometimes they don't realize how important it is,Patience and not being greedy are also important tips. These negative traits are the main reason why many novice traders lose. In any case, beginners should not enter into large deals at the beginning, and it is always better to enter with what they can afford to lose. trading or investing long term is indeed the best option and Bitcoin is the right coin for that, the most important thing is always learning both in knowledge and skills. Title: Re: Beginner mistakes and how to avoid them Post by: John Abraham on April 25, 2023, 07:44:00 AM You pointed out some good points. But it always amazes me when I see Newbies show up with the details of what mistakes newbies should avoid. Well, your forum rank doesn't define your trading experience. But, I would like to see such advice from more veteran traders. I am sorry if you are an experienced trader. The points you mentioned are good but can you explain the solutions as well?
If you are a professional trader, you must have a limit and target for each day unless there are some special events in the crypto market. You shouldn't go beyond the limit. About stop loss, sometimes it depends on greediness. Sometimes people want to see if market bunch back from the downtrend. They want to recover it in the same session. Which is why they end up getting liquidated. Title: Re: Beginner mistakes and how to avoid them Post by: Kara3 on April 25, 2023, 08:08:52 AM You pointed out some good points. But it always amazes me when I see Newbies show up with the details of what mistakes newbies should avoid. Well, your forum rank doesn't define your trading experience. But, I would like to see such advice from more veteran traders. I am sorry if you are an experienced trader. The points you mentioned are good but can you explain the solutions as well? You made a good point here, my rank in this forum shows as a newbie because just got into the forum last month, when a friend of mine told me about this forum an how I can learn more things here, but I really do have a bit of experience in trading, because I trade daily in my binance account.If you are a professional trader, you must have a limit and target for each day unless there are some special events in the crypto market. You shouldn't go beyond the limit. About stop loss, sometimes it depends on greediness. Sometimes people want to see if market bunch back from the downtrend. They want to recover it in the same session. Which is why they end up getting liquidated. This forum is really worth the hype because I find it so educative for the past month I have engage in it. Title: Re: Beginner mistakes and how to avoid them Post by: Vaculin on April 25, 2023, 08:56:46 AM For me, my advice to beginners is to trade in the long term and stay away from scalping until they have a good experience in trading. Not only for beginners, but definitely for all traders out there, we should always trade only on the amount that is still manageable to lose. Otherwise, if you let your greed motivate you and think that huge capital will also create huge profits, you will see yourself losing consistently. And for beginners, never believe that trading will make you rich instantly, of course you have to work hard for it and obtain significant knowledge and experiences so that you will achieve that certain phase in life.Patience and not being greedy are also important tips. These negative traits are the main reason why many novice traders lose. In any case, beginners should not enter into large deals at the beginning, and it is always better to enter with what they can afford to lose. Title: Re: Beginner mistakes and how to avoid them Post by: DevilSlayer on April 25, 2023, 09:18:15 AM Trading plan is very crucial, those traders who are entering without any sort of trading plan cannot be considered as traders because what they are doing is for gambling. They are hoping to win without any organized planning and for me it is the reason why they are consistently losing. Trading is not about luck, it is about probabilities and you can have your edge if you have organized plan that you can use in order to react when the opportunity comes. What is this organize planning that I'm talking about? For me an organized plan consist of knowing when you will enter, knowing how to spot a trend, knowing how to plot support and resistance, knowing when you will cut your losses, knowing how much money you will spend and lastly knowing what kind of strategy that you will use.
If you have these in your plan, then it is considered that you have organized planning. If you enter in a trade without a plan, it is considered as FOMO and FOMO is one of the factors why traders are keep losing in trading. In order to avoid it, you should have a organized plan that will guide you and help you to have wins in your trading career. Title: Re: Beginner mistakes and how to avoid them Post by: palle11 on April 25, 2023, 09:57:33 AM I don't think I need to add more to the points you made because the topic has been a public notice to trade with stop loss and not to over trade. I want to add something in the area of clearification of my understanding on the points you listed already.
* Over trading-- it's very important for a day trader to limit the number of trade he/she took in a day. I think over trading is not only about how many trades that a trader enter in a day. I believe when a trader is doing high risk trading then he or she is over trading because at a little change in direction, the account of the trader can wipe off. So having a moderate number of trading and good money management, is right psychology for trading. * Failure to use stop-loss-- to me it's the most important thing I do while trading, an it's always close to my entry price, I do it that way so that if the trade didn't go as planned, I won't lose more than 10% of my margin. Keeping your stop loss close to entry price is good like you do because it doesn't eat up much of your balance when goes wrong but at the same time, that will also not give your trade space to "breath" and you will find your trade always logging you out in stop loss at little shift in your entry price. My suggestion is to have a certain measurement of percentage in risk for a trade you are taking. Title: Re: Beginner mistakes and how to avoid them Post by: danherbias07 on April 25, 2023, 10:06:34 AM Combining them all means we need deep research before jumping the gun. IMO, planning is one of the most important parts when you are trading, you cannot be arrogant just because you have enough money in your pockets and you can cover all the losses by using it. Planning everything will have an important role especially if you are following it in a disciplined way.
I am not a big trader and I only do manual trades by reading the historic movements of the coin I prefer but it had never gone to me to be greedy and not follow the road that I had already written. Once I see profit at the aimed timeline, I take it, with no doubts, and no regrets in the end. Get over it and find a new one. Title: Re: Beginner mistakes and how to avoid them Post by: jeraldskie11 on April 25, 2023, 12:54:50 PM * Over trading-- it's very important for a day trader to limit the number of trade he/she took in a day. This is one of the reasons I was never profitable in trading. You will also get the impression that trading is simple as long as the setup entry is working. So, instead of being profitable, because you overtrade, the market recoups your earnings, and you may even lose money.Most people can't monitor themselves when they trade, which is why they have many winning transactions but a negative port at the end of the month. Title: Re: Beginner mistakes and how to avoid them Post by: ultrloa on April 25, 2023, 01:27:32 PM * Over trading-- it's very important for a day trader to limit the number of trade he/she took in a day. This is one of the reasons I was never profitable in trading. You will also get the impression that trading is simple as long as the setup entry is working. So, instead of being profitable, because you overtrade, the market recoups your earnings, and you may even lose money.Most people can't monitor themselves when they trade, which is why they have many winning transactions but a negative port at the end of the month. Many people hype up trading as it is so simple way to earn money that's why some people creates wrong impression about it. But when you start to trade you realize how hard to gain profit with this especially when you are new and doesn't know what to do on certain movements happen in the market. To win on trades we shouldn't follow other doing that over trading since if we settle up for profits we already seeing for sure we may became a profitable trader in the long run. Title: Re: Beginner mistakes and how to avoid them Post by: gabbie2010 on April 25, 2023, 02:05:04 PM * Over trading-- it's very important for a day trader to limit the number of trade he/she took in a day. * Lack of trading plan-- develop a strategy an stick to it, do not ever enters a trade blindly, if not the market will remove you blindly. [/quote] It's the most critical or complex part of trading stop - loss is a vital tool that is used to reduce risk thus a trader is expected to place the stop loss above resistance zone when selling and below a support zone when buying this also needed some experience in placing it. ] Title: Re: Beginner mistakes and how to avoid them Post by: alik111 on April 25, 2023, 03:36:12 PM The most important point is to learn the deep about crypto trading and using stop loss in every trade. I have been liquidated many times because I never used stop loss in the past. Now I am aware. Always know that every trade will not go on the right way and anytime market can be crashed. So using stop loss is a very important matter to trade crypto professionally.
Title: Re: Beginner mistakes and how to avoid them Post by: Nrcewker on April 25, 2023, 04:49:24 PM Basic beginner mistake is that lack of knowledge. When someone hears the term trading, they think of only making money. But the harsh reality is that, in order to make money you need to make profits and to make profits you have to keep knowledge about the market and the coins. But many beginners don’t have patience and they directly invest without proper researching and knowledge. And then after investing on the coin they research whether it will increase or not and later regrets on this decision. These are some of the big mistakes that all newbies and beginners need to avoid.
Title: Re: Beginner mistakes and how to avoid them Post by: Litzki1990 on April 25, 2023, 05:07:45 PM Most of the newbies in crypto space believe once they have a large capital they will definitely succeed in the crypto space, but they are wrong, not knowing that if you can't grow/manage a small account, you can't grow/manage a big account either, their are common mistakes they usually make an I will be giving out tips on how to avoid them, Success cannot be achieved by having a large amount of money. What is the use of more money without investment ideas. A person who has enough knowledge about investing even if his money is relatively small, still he knows about the market and he knows when to invest and when not to invest. Because he has an understanding of these things, he is more likely to succeed in whatever amount of money he invests. Since he is more likely to succeed, he will be able to convert his relatively small amount of money into more money. But even if a person has a large amount of money, if he has no idea about investing, he is likely to lose money instead of increasing it by investing. So in my opinion it is more important to have enough ideas than to have excess money. Title: Re: Beginner mistakes and how to avoid them Post by: Findingnemo on April 25, 2023, 05:34:18 PM Most of the newbies in crypto space believe once they have a large capital they will definitely succeed in the crypto space, but they are wrong, not knowing that if you can't grow/manage a small account, you can't grow/manage a big account either, their are common mistakes they usually make an I will be giving out tips on how to avoid them, * Over trading-- it's very important for a day trader to limit the number of trade he/she took in a day. * Lack of trading plan-- develop a strategy an stick to it, do not ever enters a trade blindly, if not the market will remove you blindly. * Failure to use stop-loss-- to me it's the most important thing I do while trading, an it's always close to my entry price, I do it that way so that if the trade didn't go as planned, I won't lose more than 10% of my margin. I don't if anyone have more to add, so I can also learn? First of all doing trade with $1000 and $1M is entirely different and ofcourse trading with huge capital has its edge but someone with small capital has to stick with their own strategy instead of following the popular traders who is dealing in millions. I would like to suggest that avoid doing day trading with all of your crypto trading capital because as we know day trading is highly risky so we don't have to put all the capital into high risk. Keel the things simple will actually help us to get better results than instead of applying strategies, analysis, indicators,etc. Title: Re: Beginner mistakes and how to avoid them Post by: MFahad on April 25, 2023, 05:53:13 PM Yes having large sum of money does not implies to the fact that you will be able to earn more but instead of this you will loss more if the market is not well for you. Having large sum means great trouble and having low sum invested means low trouble and also enhance your knowledge prior to the trading. Setting stop loss can minimize your losses and you will not face any consecutive failure. Trading plan is necessary because if you don't have any plan then I don't think that you will perform well because if a person does not have think about destination then how he will try to achieve that successful destination.
Title: Re: Beginner mistakes and how to avoid them Post by: usekevin on April 25, 2023, 05:53:44 PM Mistake at the beginning of the trading is the common one,you should use it as the opportunity and learn more from it.The basic thing to the beginners is holding at the hard times and in the bear market.Many people with less experience in the trading will sell at the beginning of the bear market.They also sell when the small pump is happen and never ready for the big rise in the price of the invested coin.Learn about the trading in you tube or any social media and apply the trading principle with the minimum money as the capital.Directly inverse without investing in the crypto currency leads to the big loss.So you need to avoid such things.
Title: Re: Beginner mistakes and how to avoid them Post by: blockman on April 25, 2023, 06:23:27 PM Futures.
Newbies do think that futures are easy and everyone can do it. No, it can't be for everyone and it's not for everyone. Futures are high risk just like spot trading but the risk there is more than what you can expect and can trigger you once you start seeing those profits being done by the others. That's why the encouragement is high when you get to see others doing well in futures but, don't be too inspired by them because they mostly show their wins and not losses. Title: Re: Beginner mistakes and how to avoid them Post by: Stable090 on April 25, 2023, 07:03:51 PM The most important point is to learn the deep about crypto trading and using stop loss in every trade. I have been liquidated many times because I never used stop loss in the past. Now I am aware. Always know that every trade will not go on the right way and anytime market can be crashed. So using stop loss is a very important matter to trade crypto professionally. Some newbies are making mistake of starting how to trade with future trading, if you want to learn how to trade it’s better you start with spot trading, you shouldn’t be in rush to make money, it’s easier to lose money in future trading compare to spot trading. If you are in rush to make money in cryptocurrency, then you Will easily lose money. Stop lose is important but I don’t think it’s mandatory, some people don’t really like using stop lose in their trade, some people believe immediately their stop lose have been triggered in a trade, the market always bounce back, so they don’t use stop lose. But as a newbie it’s a good idea if you make use of stop lose in your trade, but also newbies should avoid future trading. Title: Re: Beginner mistakes and how to avoid them Post by: tjtonmoy on April 25, 2023, 07:11:53 PM if anyone have more to add, so I can also learn? Emotions, first thing that comes to my mind is having control over emotions. If anyone asks me about learning trading, first I will ask them if they have the will to rely on data analysis and strategy rather than taking decision based on their emotions. This is a very important thing in trading, which many people ignores, thinking that it's not that important. This is the reason why they face those problems which you have mentioned. Also when learning trading, you should always start with low amount. Try out your strategy and skills, and then go for the big round. Title: Re: Beginner mistakes and how to avoid them Post by: GeorgeJohn on April 25, 2023, 08:48:41 PM What I want us to understand in trading is that no mistake is newbie mistake, maybe what you isolate in trading is what another person will come in contact and the person refused to be victim in trading, so I believe that trading have to deal with different strategies if you really want to make your own profits, so what I'm trying in nutshell, is that you have to understand the scope of Trading and master the system with your mistake, because its obvious that if you are try avoid all the mistake that you may encounter during trading you might end up in making huge losse, its obvious that you have to derived your methods of trading.
Title: Re: Beginner mistakes and how to avoid them Post by: suzanne5223 on April 25, 2023, 08:57:36 PM I don't if anyone have more to add, so I can also learn? Yes, good management is needed to thrive in the crypto space and so is the security of holding from online theft. However, the only will make wrong in what you write is trading which is also what I want to add because crypto trading is not meant for everyone especially newbies until they have concrete knowledge about crypto trading it's better for newbies to start with strictly long-term investment in Bitcoin.Title: Re: Beginner mistakes and how to avoid them Post by: martyns on April 25, 2023, 09:08:33 PM if anyone have more to add, so I can also learn? Emotions, first thing that comes to my mind is having control over emotions. If anyone asks me about learning trading, first I will ask them if they have the will to rely on data analysis and strategy rather than taking decision based on their emotions. This is a very important thing in trading, which many people ignores, thinking that it's not that important. This is the reason why they face those problems which you have mentioned. Also when learning trading, you should always start with low amount. Try out your strategy and skills, and then go for the big round. Title: Re: Beginner mistakes and how to avoid them Post by: kingvirtus09 on April 25, 2023, 09:56:25 PM Overtrading is a big problem for newbie traders who think it is better to scalp on small volume pairs rather than chase a big trend. Sometimes it works but after paying so much commission to brokers they understand something is wrong and decide to change their trading style. If the trader has no trading plan, it becomes gambling which can lead to a burst account balance sooner or later, from my personal experience. Using trailer stops on profit zones and having pre-determined stop loss zone will save traders with experience in this field, IMO. The use of scalping methods is not advisable for newbies, if those are long-term traders who have difficulty with this method, especially those who do not have enough knowledge of crypto trading. The money used here will quickly disappear if this is their way of trading. It is really necessary to have a well-informed idea and knowledge so that the capital that will be used here is not wasted. Title: Re: Beginner mistakes and how to avoid them Post by: goaldigger on April 25, 2023, 09:59:07 PM There’s always a beginners mistakes, and you can’t avoid that even if you know what to do.
There are cases where emotions are stronger than you, what you can do is to learn from it and adjust your strategy accordingly. I also don’t like over trading, because I have my target profit everyday and if I hit it already, I stop trading and focus more on other things, by doing this you are discipling yourself to be a more responsible trader. Title: Re: Beginner mistakes and how to avoid them Post by: Rengga Jati on April 25, 2023, 11:08:11 PM ... they are wrong, not knowing that if you can't grow/manage a small account, you can't grow/manage a big account either, their are common mistakes they usually make.. Managing funds is exactly very important in trading. We may not deny that higher capital may let us earn higher gains or profits. But this also requires higher risks of losing higher money. This will definetely depend on our skill and ability of trading, not only based on trading strategy but also controls of our emotions and funds. But generally, in facy, most newbies are lack of these. So, they may not be able to control and manage their capital money and head to lose much. I do agree that mistakes made by newbies are actualy quite similar from time to times. Althiugh there are many lessons shared here about trading strategy for beginner, not all newbies are willing to read and learn. They focus more on trial to earn much more money without thinking about money management and trading strategy very well. Title: Re: Beginner mistakes and how to avoid them Post by: Unbunplease on April 25, 2023, 11:12:29 PM In order to avoid mistakes as much as possible, you should start by simply observing how experienced traders operate. Then you need to analyze various strategies and choose the most appropriate one for your trading style. Of course, it is necessary to understand that it is impossible to avoid mistakes completely
Title: Re: Beginner mistakes and how to avoid them Post by: Woodie on April 25, 2023, 11:20:05 PM Lack of trading plan, Over trading, trading without a stop loss are some of the problems not only newbies face today even Experienced traders suffer from these mistakes!
But I think the main reason that causes all this is inexperience, traders want to dive right into the deep end without having to experience what the waters feel like by going into the baby pool which can be mimicked by using a demo account, which can allow you to get a real life experience and allow you to feel the emotion of trading and the alike, and once you put your strategy together you will definitely trade with the confidence and edge without having to worry about previous mistakes or having heavy loses. Title: Re: Beginner mistakes and how to avoid them Post by: Mahanton on April 25, 2023, 11:38:10 PM In order to avoid mistakes as much as possible, you should start by simply observing how experienced traders operate. Then you need to analyze various strategies and choose the most appropriate one for your trading style. Of course, it is necessary to understand that it is impossible to avoid mistakes completely Doesnt really need to observe out experienced traders but if you do find that you do have some hard time on making on your own, then getting or snipping out some ideas from older traders or experiencedones is considerable or something that viable to do so as long it does benefit you out positive then go ahead and improve and getting some ideas as much as you can but on the time that you could see that you do able to stand your own then its a must thing to consider. Strategy making does involved lots of trial and error which is something that you would really be needing to mold up. Lack of trading plan, Over trading, trading without a stop loss are some of the problems not only newbies face today even Experienced traders suffer from these mistakes! Everything would be needing a plan or target which it does really need up to be thinking up on how its been done or on how it would be executed on whatever analysis that you had mold up.But I think the main reason that causes all this is inexperience, traders want to dive right into the deep end without having to experience what the waters feel like by going into the baby pool which can be mimicked by using a demo account, which can allow you to get a real life experience and allow you to feel the emotion of trading and the alike, and once you put your strategy together you will definitely trade with the confidence and edge without having to worry about previous mistakes or having heavy loses. Most beginner mistake is on making use of higher leverage or simply doing futures without having any experience on spot because they are really that hurrying up themselves on making some profits without even trying out to consider on whats the risks involved. SL's is suggestable but if you are really that making some short trades then its not bad to not use at least. Title: Re: Beginner mistakes and how to avoid them Post by: Faisal2202 on April 26, 2023, 01:25:39 AM * Over trading-- Agreed, these three were the main flaws in my trading back in time. Like at first i spent around 40$ dollars on gala token and booked only 1$ to 2$ maybe. after that i bought a token based on ETH, i think it was, DYDX which i bought when it was on it's ATH this was my first mistake-->Lack of trading plan. Second i started to do future even i have no knowledge of trading i just saw a friend making money in future and i got excited and started only with $10 and lost $5 at first trade then i make again $10 with my $5. And then i lost all of it again. why -->Failure to use stop-loss. * Lack of trading plan-- * Failure to use stop-loss-- So after learning i should use stop loss i started with $30 dollars and started to make like $1 or $2 dollars almost for 2 to 4 days, actually my leverage was low, so i thought with such low leverage i cannot make more money then $1 or $2 so i started to make more trades,-->Over trading and i made $9 in the first day and then $15 on the other day. On the second day, i thought i should trade again so i invested 50% of my money in and saved 50% to increase liquidation price and this was my biggest mistake, and lost all of my money in that trade even the 50% (to increase liquidity). After that i never do Future trade. You points are so generic and as a newbie we should keep them in mind. Title: Re: Beginner mistakes and how to avoid them Post by: death69 on April 26, 2023, 07:44:52 AM That rookie blunder: assuming mondo bucks guarantee mondo success. It's like equating a massive noggin to Einstein-level smarts. Newsflash: nope.
Back in my greenhorn days, I thought I was the bee's knees 'cause my account had some extra goose eggs. But when I got serious about my game plan and self-control, that's when the magic happened. And on the topic of game plans, you're nailing it, bro. Over trading's like scarfing an entire pizza solo: seems rad in the moment, but you'll be hating life later. Flying blind with no plan is like driving a car Title: Re: Beginner mistakes and how to avoid them Post by: touseefahmad1999 on April 26, 2023, 12:21:04 PM Those are some great tips for avoiding common mistakes in crypto trading. Here are a few more:
Emotional trading - it's important to not let your emotions, such as fear or greed, dictate your trading decisions. Stick to your plan and avoid impulsive decisions. FOMO (fear of missing out) - don't jump into trades just because you see others making profits. Do your own research and make informed decisions. Ignoring market trends - it's important to keep up with market news and trends, and adjust your trading strategy accordingly. Poor risk management - it's important to not risk more than you can afford to lose, and to diversify your portfolio to minimize risk. Overall, the key to success in the crypto space is discipline, patience, and a well-thought-out trading strategy. Good luck with your trading! Title: Re: Beginner mistakes and how to avoid them Post by: Aanuoluwatofunmi on April 26, 2023, 01:09:57 PM * Over trading-- it's very important for a day trader to limit the number of trade he/she took in a day. It's not all about limiting it alone, an experienced trader must know when to stop or continue in trading each day because there are times where it may look more difficult to realize something better from the signals seen but immediately after some minutes or lately in the day, things can suddenly change for good and better that may warrant taking another trade for the day which may be the most profitable one of it all. * Lack of trading plan-- develop a strategy an stick to it, do not ever enters a trade blindly, if not the market will remove you blindly. Before one cab begin a bitcoin trading, such person needs to make some findings about trading, learn the trading patterns a d research on many available materials to help your trading experience and give it the quality time it needed, you also need to speculate bitcoin price than you fo before. Title: Re: Beginner mistakes and how to avoid them Post by: GiftedMAN on April 26, 2023, 02:10:00 PM First off, you need to understand your aim of trading before you begin to trade and in understanding what trading is all about you must have gotten a good knowledge on trading I believe without having a proper knowledge on trading the trader is doing nothing but gambling.
I disagree with the first point of the op as a mistake in trading, * Over Trading: There is nothing like over trading when one is ok with what he's doing especially an experience trader that has no limit to the profit he's making during trading, the only time I think one needs to stop trading is when the market is not favourable to you or when your losing back the profits you made in a particular day else it is not a mistake if someone choses to trade for a whole day in as much as your making profit. The main function of stop-loss in trading is to limit (stop) a trader from losing above the limit he or she is willing to lose in a trade it is created to stop one from trading even when one is making profit. Title: Re: Beginner mistakes and how to avoid them Post by: ethereumhunter on April 26, 2023, 03:34:29 PM Not having a trading plan should also be avoided because we won't be able to get much profit, especially if the market immediately reverses. This often happens when trading because the market never tells us when the time changes. Maybe there are specific signs that we must find, so this requires a better ability to analyze.
Don't think we can take a lot of profits because when we think so, the market can immediately drop and eliminate our opportunity to take profits. Most traders are so greedy in taking profits that they miss the opportunity and regret it. Title: Re: Beginner mistakes and how to avoid them Post by: cydrix on April 26, 2023, 03:39:12 PM The most frequent error made by beginners is ignorance. People typically associate trading with generating money when they hear the term. But the hard truth is that in order to earn money, you must turn a profit, and in order to turn a profit, you must remain knowledgeable about the market and currency. However, many newcomers lack patience and invest right away without conducting any study or having sufficient understanding. After making an investment in the coin, people examine whether its value will rise or fall and afterwards second-guess their choice. These are some of the major blunders that all novices and beginners must steer clear of.
Title: Re: Beginner mistakes and how to avoid them Post by: freedomgo on April 26, 2023, 09:59:03 PM For me, my advice to beginners is to trade in the long term and stay away from scalping until they have a good experience in trading. These are really useful tips. I believe if you are a good and successful trader, it means that you are trading following on the positive tips and never entertain those who only bring out negativity. By having patience and no amount of greediness, which means you separate your emotions when trading, that will help you to focus on your target in trading without being bothered by any negative emotions. Since trading is never easy, so you should learn to be more patient on whatever your trading outcome and always trade on a minimal amount, those are some way to help you stay in a safe zone.Patience and not being greedy are also important tips. These negative traits are the main reason why many novice traders lose. In any case, beginners should not enter into large deals at the beginning, and it is always better to enter with what they can afford to lose. Title: Re: Beginner mistakes and how to avoid them Post by: Kelvinid on April 26, 2023, 10:10:11 PM Most of the newbies in crypto space believe once they have a large capital they will definitely succeed in the crypto space, but they are wrong, not knowing that if you can't grow/manage a small account, you can't grow/manage a big account either, their are common mistakes they usually make an I will be giving out tips on how to avoid them, These are just some reasons but the mean reason why a newbie usually had fail is because of uncontrollable emotions. * Over trading-- it's very important for a day trader to limit the number of trade he/she took in a day. * Lack of trading plan-- develop a strategy an stick to it, do not ever enters a trade blindly, if not the market will remove you blindly. * Failure to use stop-loss-- to me it's the most important thing I do while trading, an it's always close to my entry price, I do it that way so that if the trade didn't go as planned, I won't lose more than 10% of my margin. I don't if anyone have more to add, so I can also learn? Because even you have a concrete plan and use effective strategies but if you were still get affected easily by the FUDs and negative news, I was certain that you will get out of focus and in your plan. You will go in a different direction because what it dictates to you now is your mind, not the plan that you have set. Experience will teach everything and mistakes will then open our mind where we got wrong. So, don't get afraid of losing because this will lead us the way to improve ourselves Title: Re: Beginner mistakes and how to avoid them Post by: AmoreJaz on April 26, 2023, 10:13:44 PM For me, my advice to beginners is to trade in the long term and stay away from scalping until they have a good experience in trading. These are really useful tips. I believe if you are a good and successful trader, it means that you are trading following on the positive tips and never entertain those who only bring out negativity. By having patience and no amount of greediness, which means you separate your emotions when trading, that will help you to focus on your target in trading without being bothered by any negative emotions. Since trading is never easy, so you should learn to be more patient on whatever your trading outcome and always trade on a minimal amount, those are some way to help you stay in a safe zone.Patience and not being greedy are also important tips. These negative traits are the main reason why many novice traders lose. In any case, beginners should not enter into large deals at the beginning, and it is always better to enter with what they can afford to lose. scalping indeed is for experienced traders. because one mistake and your profits will be gone. so trade using your extra money and start small as much as possible. greed is the common cause of trading failure, but i guess, we are guilty of this at one point. but we learn our mistakes, and sometimes an expensive mistake. Title: Re: Beginner mistakes and how to avoid them Post by: Finestream on April 26, 2023, 10:42:40 PM Not having a trading plan should also be avoided because we won't be able to get much profit, especially if the market immediately reverses. This often happens when trading because the market never tells us when the time changes. Maybe there are specific signs that we must find, so this requires a better ability to analyze. Just stick to your trading plan, and learned to be more flexible when sudden market factors affect its behavior. Otherwise, if you trade without analyzing the market well, you might get caught losing because you were driven by your greed in trading. And always have self-control no matter what. Learn to address your emotions well, and if possible, never trade when your emotions are not stable because surely you will only be affected by it.Don't think we can take a lot of profits because when we think so, the market can immediately drop and eliminate our opportunity to take profits. Most traders are so greedy in taking profits that they miss the opportunity and regret it. Title: Re: Beginner mistakes and how to avoid them Post by: GreatArkansas on April 27, 2023, 02:30:17 AM (....) I can relate to this during my early days in trading. I already realized it very late before. The feeling is really different when you start trading especially you're new to it.* Failure to use stop-loss-- to me it's the most important thing I do while trading, an it's always close to my entry price, I do it that way so that if the trade didn't go as planned, I won't lose more than 10% of my margin. I don't if anyone have more to add, so I can also learn? So, it must be always for beginners to have knowledge first or learn every basic first before opening their first trade because there is already money involved here. Title: Re: Beginner mistakes and how to avoid them Post by: irhact on April 27, 2023, 06:42:26 AM scalping indeed is for experienced traders. because one mistake and your profits will be gone. so trade using your extra money and start small as much as possible. greed is the common cause of trading failure, but i guess, we are guilty of this at one point. but we learn our mistakes, and sometimes an expensive mistake. Why should scalping be mentioned to beginners when professionals also fail due to one mistakes trade and loss all or majority of their profits. Scalping should only be done by those that have mastered it from their years of trading. There are so many mistakes a newbie can make but he shouldn't get himself trading through scalping, the volatility of the market can cause big losses. Beginners have to understand one important point, mistakes are okay as they can teach you more valuable lesson more than anybody else or your wins. But we shouldn't make mistakes that are too expensive which is why we have to keep our capital on a low risk amount so it doesn't bother us much if lost. Title: Re: Beginner mistakes and how to avoid them Post by: Rupok on April 27, 2023, 09:46:10 AM The reason beginners make mistakes is that they get too excited about anything.Their motivation to earn money is very high. But they don't know that there are many strategies to be adopted in trading.Newbies actually treat trading like gambling, they think they can make more profit with less investment. They don't focus on trading portfolios. Everything is just for money, not for experience.However, it is very common for beginners to make mistakes in cryptocurrency. At first we also made many mistakes, but later we learned and gained experience.
Title: Re: Beginner mistakes and how to avoid them Post by: justdimin on April 28, 2023, 04:18:51 AM Combining them all means we need deep research before jumping the gun. IMO, planning is one of the most important parts when you are trading, you cannot be arrogant just because you have enough money in your pockets and you can cover all the losses by using it. Planning everything will have an important role especially if you are following it in a disciplined way. That is true, just spending the money you have to cover the losses is not a good way of neither starting or the rest. It is better to make sure that you make as little mistakes as you can and you could spend a lot less per trade if you are unsure about it as well.I am not a big trader and I only do manual trades by reading the historic movements of the coin I prefer but it had never gone to me to be greedy and not follow the road that I had already written. Once I see profit at the aimed timeline, I take it, with no doubts, and no regrets in the end. Get over it and find a new one. I personally do not put that much into crypto at this moment when trading, my trades are less than 100 bucks which is fine for me, and I aim at making 3-5% profit each time as well. That may look like a very little amount, but when you are trading dozens of pairs and you can make that per day, suddenly it becomes a lot more bigger. Imagine being able to make 5% profit per day, that would be insane return right? I am not doing that of course, but I aim at that, because 5% profit per bet is more likely than 100% at least. Title: Re: Beginner mistakes and how to avoid them Post by: xSkylarx on April 28, 2023, 04:28:53 AM The reason beginners make mistakes is that they get too excited about anything.Their motivation to earn money is very high. But they don't know that there are many strategies to be adopted in trading.Newbies actually treat trading like gambling, they think they can make more profit with less investment. They don't focus on trading portfolios. Everything is just for money, not for experience.However, it is very common for beginners to make mistakes in cryptocurrency. At first we also made many mistakes, but later we learned and gained experience. One also of the common mistake was they are hastily learn trading like in just one night and will jump to trading immediately without any strategy. They are very greedy to gain profit immediately and not knowing the fundamentals of it that is why others a losing a lot and will then quit as they cant take it that they are losing. That is why patience and be knowledgeable on something so that you'll be successful Title: Re: Beginner mistakes and how to avoid them Post by: lixer on April 28, 2023, 10:40:00 AM For me, my advice to beginners is to trade in the long term and stay away from scalping until they have a good experience in trading. It's really important for beginners to gain experience because sometimes they don't realize how important it is,Patience and not being greedy are also important tips. These negative traits are the main reason why many novice traders lose. In any case, beginners should not enter into large deals at the beginning, and it is always better to enter with what they can afford to lose. trading or investing long term is indeed the best option and Bitcoin is the right coin for that, the most important thing is always learning both in knowledge and skills. There are many ways to earn a crypto but no doubt that trading and investing is currently at the top. Trading is only a little difficult than investing but it have an advantage and that is you can make profit quickly. Title: Re: Beginner mistakes and how to avoid them Post by: Hypnosis00 on April 28, 2023, 11:14:50 AM The reason beginners make mistakes is that they get too excited about anything.Their motivation to earn money is very high. But they don't know that there are many strategies to be adopted in trading.Newbies actually treat trading like gambling, they think they can make more profit with less investment. They don't focus on trading portfolios. Everything is just for money, not for experience.However, it is very common for beginners to make mistakes in cryptocurrency. At first we also made many mistakes, but later we learned and gained experience. One also of the common mistake was they are hastily learn trading like in just one night and will jump to trading immediately without any strategy. They are very greedy to gain profit immediately and not knowing the fundamentals of it that is why others a losing a lot and will then quit as they cant take it that they are losing. That is why patience and be knowledgeable on something so that you'll be successful That is why it should be encouraged that we don't underestimate the market. And being a beginner must not gain too much confidence instead, help ourselves learn more and accept advices from experienced traders. Title: Re: Beginner mistakes and how to avoid them Post by: KingsDen on April 28, 2023, 12:04:23 PM Most of the newbies in crypto space believe once they have a large capital they will definitely succeed in the crypto space, but they are wrong, not knowing that if you can't grow/manage a small account, you can't grow/manage a big account either, their are common mistakes they usually make an I will be giving out tips on how to avoid them, * Over trading-- it's very important for a day trader to limit the number of trade he/she took in a day. * Lack of trading plan-- develop a strategy an stick to it, do not ever enters a trade blindly, if not the market will remove you blindly. * Failure to use stop-loss-- to me it's the most important thing I do while trading, an it's always close to my entry price, I do it that way so that if the trade didn't go as planned, I won't lose more than 10% of my margin. I don't if anyone have more to add, so I can also learn? No matter the severity and length of advice that is given to a newbie, they must surely make the newbie mistake. That is why these days I give newbie advice without much expectations from them. Yet, it is still advisable to give these advices because they will still fall back to them when they make their newbie mistakes finish. Op, include revenge trade. This is a powerful means through which newbies can blow their portfolio. Title: Re: Beginner mistakes and how to avoid them Post by: Rockstarguy on April 28, 2023, 12:13:52 PM * Over trading-- it's very important for a day trader to limit the number of trade he/she took in a day. This is one of the reasons I was never profitable in trading. You will also get the impression that trading is simple as long as the setup entry is working. So, instead of being profitable, because you overtrade, the market recoups your earnings, and you may even lose money.Most people can't monitor themselves when they trade, which is why they have many winning transactions but a negative port at the end of the month. Title: Re: Beginner mistakes and how to avoid them Post by: ethereumhunter on April 28, 2023, 01:30:49 PM Not having a trading plan should also be avoided because we won't be able to get much profit, especially if the market immediately reverses. This often happens when trading because the market never tells us when the time changes. Maybe there are specific signs that we must find, so this requires a better ability to analyze. Just stick to your trading plan, and learned to be more flexible when sudden market factors affect its behavior. Otherwise, if you trade without analyzing the market well, you might get caught losing because you were driven by your greed in trading. And always have self-control no matter what. Learn to address your emotions well, and if possible, never trade when your emotions are not stable because surely you will only be affected by it.Don't think we can take a lot of profits because when we think so, the market can immediately drop and eliminate our opportunity to take profits. Most traders are so greedy in taking profits that they miss the opportunity and regret it. Title: Re: Beginner mistakes and how to avoid them Post by: yudi09 on April 28, 2023, 02:08:14 PM * Over trading-- it's very important for a day trader to limit the number of trade he/she took in a day. Risk management must be well mastered by a trader. Likewise with other technical mastery that has to do with trading.* Lack of trading plan-- develop a strategy an stick to it, do not ever enters a trade blindly, if not the market will remove you blindly. * Failure to use stop-loss-- to me it's the most important thing I do while trading, For me, overtrading, trading plans and stop losses will be mastered when someone who wants to do trading work is willing to explore knowledge by learning about basic tips and so on which are the main capital, whether the activity is carried out individually or working under the control of a company. Title: Re: Beginner mistakes and how to avoid them Post by: Mr. Magkaisa on April 28, 2023, 03:04:23 PM Most of the newbies in crypto space believe once they have a large capital they will definitely succeed in the crypto space, but they are wrong, not knowing that if you can't grow/manage a small account, you can't grow/manage a big account either, their are common mistakes they usually make an I will be giving out tips on how to avoid them, * Over trading-- it's very important for a day trader to limit the number of trade he/she took in a day. * Lack of trading plan-- develop a strategy an stick to it, do not ever enters a trade blindly, if not the market will remove you blindly. * Failure to use stop-loss-- to me it's the most important thing I do while trading, an it's always close to my entry price, I do it that way so that if the trade didn't go as planned, I won't lose more than 10% of my margin. I don't if anyone have more to add, so I can also learn? - To be honest, having a large capital in crypto trading especially if you use it in bitcoin or other top altcoins such as ETH, Matic and BNB, it can really make a good gain every day. But this you must have enough knowledge and idea about cryptocurrency. Because when it is said that there is enough knowledge in crypto trading that means you know how to analyze, and use trading chart tools to determine when to buy or sell coins and the coins you choose must also be correct because as a trader here in the crypto space you can't make mistakes, you should have that mindset. Title: Re: Beginner mistakes and how to avoid them Post by: jeraldskie11 on April 28, 2023, 03:47:48 PM * Over trading-- it's very important for a day trader to limit the number of trade he/she took in a day. This is one of the reasons I was never profitable in trading. You will also get the impression that trading is simple as long as the setup entry is working. So, instead of being profitable, because you overtrade, the market recoups your earnings, and you may even lose money.Most people can't monitor themselves when they trade, which is why they have many winning transactions but a negative port at the end of the month. Title: Re: Beginner mistakes and how to avoid them Post by: Aanuoluwatofunmi on April 29, 2023, 02:05:28 PM A beginner is a rather difficult period for every trader. At least when I started working - I also learned enough about it. For work, I chose a broker from the Amarkets company, and studied on a demo account. Was pleased with the results. Being a beginner in trading requires alot to put in place before you can be able to stand strong with the trading techniques and other required process that goes in line with experience, not everyone like taking a broker for an option being a beginner, they had better give it all it takes to quickly assimilate their learning procedures more faster trying it out by themselves together with obtaining learning materials from different sources. Title: Re: Beginner mistakes and how to avoid them Post by: stomachgrowls on April 29, 2023, 11:40:13 PM * Over trading-- it's very important for a day trader to limit the number of trade he/she took in a day. This is one of the reasons I was never profitable in trading. You will also get the impression that trading is simple as long as the setup entry is working. So, instead of being profitable, because you overtrade, the market recoups your earnings, and you may even lose money.Most people can't monitor themselves when they trade, which is why they have many winning transactions but a negative port at the end of the month. Overtrading is the excessive buying and selling of financial instruments, such as stocks, bonds, etc., by an individual trader or a broker. While there are no regulations against individual traders for excessive trading, brokers being regulated bodies may face significant consequences. https://www.wallstreetmojo.com/overtrading/ On the time that you would really be making yourself that too much confident just because you do see that you could make some few trades and ending up on profitable. You would really be having those kind of thoughts that you could really do this all day without even trying realize that its not something could be that realistic because trading isnt only meaning about having profitable trades. It would always matter on how well you do make your actions. Title: Re: Beginner mistakes and how to avoid them Post by: tygeade on May 01, 2023, 10:24:41 AM Most of the newbies in crypto space believe once they have a large capital they will definitely succeed in the crypto space, but they are wrong, not knowing that if you can't grow/manage a small account, you can't grow/manage a big account either, their are common mistakes they usually make an I will be giving out tips on how to avoid them I feel like most beginners will learn from their mistakes by doing them, that is going to be the case for most of them, not going to be amazing or anything to do so, but it is going to be the reality and there is really nothing to do about it. If they make a mistake and learn from it, they will become better, if they learn nothing from the mistake then they are not going to be great at it and that is going to be a trouble.Think of it like it is a boring approach, like if you could end up with learning by making a mistake, that is a terrible thing because you lost, but next time you will be better and make a profit thanks to that loss. This is why reading these will not be that easy to solve beginner issues, they have to do them personally and learn from them over time as well. Title: Re: Beginner mistakes and how to avoid them Post by: Sterbens on May 01, 2023, 03:31:43 PM I feel like most beginners will learn from their mistakes by doing them, that is going to be the case for most of them, not going to be amazing or anything to do so, but it is going to be the reality and there is really nothing to do about it. If they make a mistake and learn from it, they will become better, if they learn nothing from the mistake then they are not going to be great at it and that is going to be a trouble. Most beginners are wrong in setting their own mindset, they are always trapped in greed and think that they will get a lot of money from trading. Without them knowing all the risks they will face, they can start it but not many of them are able to live it well. To get a solution to their problem, at least they have to experience mistakes first or make other people's mistakes as reference material so that they never reach them. They have a lot of things to prepare for, they can't be careless if they don't want to lose a lot of money.Think of it like it is a boring approach, like if you could end up with learning by making a mistake, that is a terrible thing because you lost, but next time you will be better and make a profit thanks to that loss. This is why reading these will not be that easy to solve beginner issues, they have to do them personally and learn from them over time as well. Title: Re: Beginner mistakes and how to avoid them Post by: Nrcewker on May 01, 2023, 05:12:59 PM A beginner is a rather difficult period for every trader. At least when I started working - I also learned enough about it. For work, I chose a broker from the Amarkets company, and studied on a demo account. Was pleased with the results. Being a beginner in trading requires alot to put in place before you can be able to stand strong with the trading techniques and other required process that goes in line with experience, not everyone like taking a broker for an option being a beginner, they had better give it all it takes to quickly assimilate their learning procedures more faster trying it out by themselves together with obtaining learning materials from different sources. I don’t believe in techniques. If you have immense knowledge on a particular coin, then when to buy or when to sell will only help you to gain momentum and profits. I am not saying that techniques don’t work at all, but rather they are secondary. Knowledge should be the top priority. Learn and understand the market and if possible observe the movements for few weeks. See the coins movement and at last when you feel confident, trade with real money. And yes if you are a newbie then trade the amount that you can afford to lose. Title: Re: Beginner mistakes and how to avoid them Post by: Botnake on May 01, 2023, 05:36:33 PM * Over trading-- it's very important for a day trader to limit the number of trade he/she took in a day. Risk management must be well mastered by a trader. Likewise with other technical mastery that has to do with trading.* Lack of trading plan-- develop a strategy an stick to it, do not ever enters a trade blindly, if not the market will remove you blindly. * Failure to use stop-loss-- to me it's the most important thing I do while trading, For me, overtrading, trading plans and stop losses will be mastered when someone who wants to do trading work is willing to explore knowledge by learning about basic tips and so on which are the main capital, whether the activity is carried out individually or working under the control of a company. Title: Re: Beginner mistakes and how to avoid them Post by: Bushdark on May 01, 2023, 05:42:13 PM A beginner is a rather difficult period for every trader. At least when I started working - I also learned enough about it. For work, I chose a broker from the Amarkets company, and studied on a demo account. Was pleased with the results. Being a beginner in trading requires alot to put in place before you can be able to stand strong with the trading techniques and other required process that goes in line with experience, not everyone like taking a broker for an option being a beginner, they had better give it all it takes to quickly assimilate their learning procedures more faster trying it out by themselves together with obtaining learning materials from different sources. We need to understand that whether you are a newbie trader or pro trader, everybody do make loses this is what makes the market more strict and difficult to always be a winner always. Title: Re: Beginner mistakes and how to avoid them Post by: Altryist on May 01, 2023, 05:53:39 PM There are so many mistakes beginners or newbies used to make when they enter the market with the curiosity to make money just like the pro traders showing there results for people to see. So traders always think that making money in the market is as easier like showing results for people to see. They forget that these pro traders do not like showing there loses whenever they make significant loses, but it is easy for them to show there big winnings for people to see how good they are. That's right, if a trader demonstrates only profitable transactions, then it is worth considering why he does this, he may want recognition from society, or he wants to sell his "win-win" strategy, but there are no such traders who do not lose money, everyone has losses. And I adhere to my point of view that a successful trader will not sell a strategy that is capable of generating income, at best, he will talk about a strategy that has already been worked out and is almost useless.We need to understand that whether you are a newbie trader or pro trader, everybody do make loses this is what makes the market more strict and difficult to always be a winner always. Title: Re: Beginner mistakes and how to avoid them Post by: Distinctin on May 01, 2023, 06:22:38 PM There are so many mistakes beginners or newbies used to make when they enter the market with the curiosity to make money just like the pro traders showing there results for people to see. So traders always think that making money in the market is as easier like showing results for people to see. They forget that these pro traders do not like showing there loses whenever they make significant loses, but it is easy for them to show there big winnings for people to see how good they are. That's right, if a trader demonstrates only profitable transactions, then it is worth considering why he does this, he may want recognition from society, or he wants to sell his "win-win" strategy, but there are no such traders who do not lose money, everyone has losses. And I adhere to my point of view that a successful trader will not sell a strategy that is capable of generating income, at best, he will talk about a strategy that has already been worked out and is almost useless.We need to understand that whether you are a newbie trader or pro trader, everybody do make loses this is what makes the market more strict and difficult to always be a winner always. Title: Re: Beginner mistakes and how to avoid them Post by: freedomgo on May 01, 2023, 07:33:29 PM A beginner is a rather difficult period for every trader. At least when I started working - I also learned enough about it. For work, I chose a broker from the Amarkets company, and studied on a demo account. Was pleased with the results. Being a beginner in trading requires alot to put in place before you can be able to stand strong with the trading techniques and other required process that goes in line with experience, not everyone like taking a broker for an option being a beginner, they had better give it all it takes to quickly assimilate their learning procedures more faster trying it out by themselves together with obtaining learning materials from different sources. Everything goes with it, your time, money, focus, energy. Everything needs to be done and well calculated because we aren't just talking and trading with cents, yes there may be some mistakes along the road but that's somehow normal and manageable especially if you're just a novice in this field. Just focus until you understand the fundamentals until you know what you need to do next and have a better understanding with it because you already acquired some lessons on the past mistakes. Title: Re: Beginner mistakes and how to avoid them Post by: LUCKMCFLY on May 01, 2023, 07:43:34 PM A beginner is a rather difficult period for every trader. At least when I started working - I also learned enough about it. For work, I chose a broker from the Amarkets company, and studied on a demo account. Was pleased with the results. Being a beginner in trading requires alot to put in place before you can be able to stand strong with the trading techniques and other required process that goes in line with experience, not everyone like taking a broker for an option being a beginner, they had better give it all it takes to quickly assimilate their learning procedures more faster trying it out by themselves together with obtaining learning materials from different sources. Everything goes with it, your time, money, focus, energy. Everything needs to be done and well calculated because we aren't just talking and trading with cents, yes there may be some mistakes along the road but that's somehow normal and manageable especially if you're just a novice in this field. Just focus until you understand the fundamentals until you know what you need to do next and have a better understanding with it because you already acquired some lessons on the past mistakes. Title: Re: Beginner mistakes and how to avoid them Post by: milewilda on May 01, 2023, 07:59:19 PM Most of the newbies in crypto space believe once they have a large capital they will definitely succeed in the crypto space, but they are wrong, not knowing that if you can't grow/manage a small account, you can't grow/manage a big account either, their are common mistakes they usually make an I will be giving out tips on how to avoid them, *Emotional impulsive* Over trading-- it's very important for a day trader to limit the number of trade he/she took in a day. * Lack of trading plan-- develop a strategy an stick to it, do not ever enters a trade blindly, if not the market will remove you blindly. * Failure to use stop-loss-- to me it's the most important thing I do while trading, an it's always close to my entry price, I do it that way so that if the trade didn't go as planned, I won't lose more than 10% of my margin. I don't if anyone have more to add, so I can also learn? *Rushing up on getting rich *Trading disicpline *Risks management If you do lack also of these things then you would likely be able to experience up those common mistakes on which newbies do able to commit out. Yes, its not really that easy on avoiding up these things in the first place but with proper engagement or approach and applying out these basic principle then you would really be able to find yourself that it would really be that relevant in speaking about avoiding errors or mistakes. Somewhat it cant really be obtained unless if you do have that experience because we know that knowledge couldnt really be gained without actual experiencing it for yourself. This is why theory studies wont really be that sufficient without actual engagement. Title: Re: Beginner mistakes and how to avoid them Post by: jossiel on May 01, 2023, 08:05:01 PM In fact, the process of these errors is simply inevitable. A beginner must always make mistakes in order to gain experience in the future. As a result, it will show its result. There's no doubt that every beginner will have to experience these mistakes and no one can avoid them until they've faced it again maybe for the 2nd or 3rd time or so.The result will be depending on how the beginner will learn from those experiences and mistakes and how they'll adjust to become better from it. If so, that's where their journey actually starts. When everyone has learned from all of those mistakes and applies it on trading and then the results are good and comparable in their past trades. Title: Re: Beginner mistakes and how to avoid them Post by: |MINER| on May 01, 2023, 08:12:37 PM Everything goes with it, your time, money, focus, energy. Everything needs to be done and well calculated because we aren't just talking and trading with cents, yes there may be some mistakes along the road but that's somehow normal and manageable especially if you're just a novice in this field. Just focus until you understand the fundamentals until you know what you need to do next and have a better understanding with it because you already acquired some lessons on the past mistakes. I also agreed with yours opinion and I think when a person get into trading they will must be face losses by doing those mistakes and wrong decision. It is not that everything will end or that everything is over because of making mistakes. They have always chances to gain by learning from those mistakes and applied new strategies on trading . And it will be wise if any beginner alert before investing I think most of the beginner most mistakes in trading is they can't control their emotions they also should care of their emotions before jumping on trading.Title: Re: Beginner mistakes and how to avoid them Post by: justdimin on May 02, 2023, 05:29:45 AM I feel like most beginners will learn from their mistakes by doing them, that is going to be the case for most of them, not going to be amazing or anything to do so, but it is going to be the reality and there is really nothing to do about it. If they make a mistake and learn from it, they will become better, if they learn nothing from the mistake then they are not going to be great at it and that is going to be a trouble. I understand that it is not going to be easy to handle your mistakes at first, but if they just make mistakes and try to learn from them, they will lack the education needed. Let's assume you made a mistake, how would you know if it is a mistake or not or how would you know what the mistake was, without actually knowing crypto trading? That means beginners needs to make those mistakes after they studied, so that they could check the mistake and remember from their education what the mistake is, otherwise it doesn't make any sense at all.Think of it like it is a boring approach, like if you could end up with learning by making a mistake, that is a terrible thing because you lost, but next time you will be better and make a profit thanks to that loss. This is why reading these will not be that easy to solve beginner issues, they have to do them personally and learn from them over time as well. I know that plenty of people will be shocked about this but the reality is simple; you learn first then you make a mistake then you learn from the mistake and then you become better at it. That's how it works. Title: Re: Beginner mistakes and how to avoid them Post by: Josefjix on May 02, 2023, 05:37:01 AM Most of the newbies in crypto space believe once they have a large capital they will definitely succeed in the crypto space, but they are wrong, not knowing that if you can't grow/manage a small account, you can't grow/manage a big account either, their are common mistakes they usually make an I will be giving out tips on how to avoid them, Risk management is always first in any deal that is going to be completed, knowing the potential earnings as well as the amounts at stake if the trade goes against you. The previously mentioned counsel are totally right, understanding how to set boundaries for the number of trades to take per day regardless of how excellent the market is. Lack of trading structure will also cause newbies to lose a lot of money and will be unable to recover in the same trading position. If a market does not give good trading structure or entry, quit it because you may not be able to withstand what happens after you place your trade. Creating or implementing a trading strategy, sticking to it, and practicing until perfect and confident with it. Failing to use stop losses all because of greed, one of the crucial factor to watch out for when placing trade as a beginner. * Over trading-- it's very important for a day trader to limit the number of trade he/she took in a day. * Lack of trading plan-- develop a strategy an stick to it, do not ever enters a trade blindly, if not the market will remove you blindly. * Failure to use stop-loss-- to me it's the most important thing I do while trading, an it's always close to my entry price, I do it that way so that if the trade didn't go as planned, I won't lose more than 10% of my margin. I don't if anyone have more to add, so I can also learn? Title: Re: Beginner mistakes and how to avoid them Post by: crwth on May 02, 2023, 05:37:31 AM Those tactics are for people who are quite new to the trading scene and are waiting just to get rekt. There are a lot of newbie traders that are going into the market head-on without any safety or any precautions before investing. They might lose everything in one swoop and that could really happen. I think we all have those days and the goal should be to prevent that.
The best way to win is to be consistent and not be emotionally attached towards the market sentiment. Title: Re: Beginner mistakes and how to avoid them Post by: devil2man on May 02, 2023, 06:00:27 AM Beginner traders can make several mistakes while trading. Some common mistakes include not researching the markets properly, trading without a plan, over-reliance on software, failing to cut losses, and overexposing a position. Another common mistake is starting to trade without creating a trading plan. It is also important to keep a personal track record of trading mistakes to learn from them. Beginner traders should do their homework before investing in any altcoin. It is essential to avoid these common trading mistakes to become a successful trader.
Title: Re: Beginner mistakes and how to avoid them Post by: CarnagexD on May 03, 2023, 09:18:09 AM Most of the newbies in crypto space believe once they have a large capital they will definitely succeed in the crypto space, but they are wrong, not knowing that if you can't grow/manage a small account, you can't grow/manage a big account either, their are common mistakes they usually make an I will be giving out tips on how to avoid them, * Over trading-- it's very important for a day trader to limit the number of trade he/she took in a day. * Lack of trading plan-- develop a strategy an stick to it, do not ever enters a trade blindly, if not the market will remove you blindly. * Failure to use stop-loss-- to me it's the most important thing I do while trading, an it's always close to my entry price, I do it that way so that if the trade didn't go as planned, I won't lose more than 10% of my margin. I don't if anyone have more to add, so I can also learn? Trading is a 3 way system. The way you see the market. The way you trade how you see. And more importantly Your psychology of how you take the results of your trade. Unless you are equipped with the correct skill and character in front of the market, you will lose your money regardless of how big or small your account. If you want to learn something, learn the right thing and in the right way. Focus on the right way of trading and not on the mistakes. 1. Have a plan that works for you. Not the plan that is better than the next guy but the best pla for you. 2. Have the ability to consistently execute the plan. Wait when your analysis told you o wait, buy when it told you to buy, take profit when it told you to take profit. The journey will take a lot of time, persistence, and discipline. You don't need money. It's easy to find investors when you hae the right skill. Title: Re: Beginner mistakes and how to avoid them Post by: kapalmabur on May 03, 2023, 09:30:49 AM Those tactics are for people who are quite new to the trading scene and are waiting just to get rekt. There are a lot of newbie traders that are going into the market head-on without any safety or any precautions before investing. They might lose everything in one swoop and that could really happen. I think we all have those days and the goal should be to prevent that. It must be admitted that there are still many beginners who trade naively,The best way to win is to be consistent and not be emotionally attached towards the market sentiment. i think they need to learn more and understand what crypto is like, because otherwise it will be a waste of time only and will lose easily. Title: Re: Beginner mistakes and how to avoid them Post by: omgitsmehehe on May 03, 2023, 12:03:13 PM Those tactics are for people who are quite new to the trading scene and are waiting just to get rekt. There are a lot of newbie traders that are going into the market head-on without any safety or any precautions before investing. They might lose everything in one swoop and that could really happen. I think we all have those days and the goal should be to prevent that. Implementing a trading technique that works better in trading is also a good step to take, but if the approach is incorrect, losses will be recorded on a daily basis. Specifically, without risk management, trading accounts are likely to be liquidated, and we would wish for another chance to trade. We should invest our time in deepening our understanding of the market and the best times to buy and sell. The traders' emotional stability and constancy is what drives them to make huge profits. Trading gets smoother and easier as a trader practices and acquires these skills. The best way to win is to be consistent and not be emotionally attached towards the market sentiment. Title: Re: Beginner mistakes and how to avoid them Post by: Oilacris on May 03, 2023, 07:26:36 PM Those tactics are for people who are quite new to the trading scene and are waiting just to get rekt. There are a lot of newbie traders that are going into the market head-on without any safety or any precautions before investing. They might lose everything in one swoop and that could really happen. I think we all have those days and the goal should be to prevent that. Implementing a trading technique that works better in trading is also a good step to take, but if the approach is incorrect, losses will be recorded on a daily basis. Specifically, without risk management, trading accounts are likely to be liquidated, and we would wish for another chance to trade. We should invest our time in deepening our understanding of the market and the best times to buy and sell. The traders' emotional stability and constancy is what drives them to make huge profits. Trading gets smoother and easier as a trader practices and acquires these skills. The best way to win is to be consistent and not be emotionally attached towards the market sentiment. does really like on being perfect on whatever the things that they've been doing. Just to add up on the list. 1. Dont be emotional when it comes to losses and being that greedy when it gains. 2. Dont make yourself that get used to believe on what you do hear around. 3. Always set Plan B if Plan A would failed. This is why its really important that you should be aware on what you are doing. Title: Re: Beginner mistakes and how to avoid them Post by: Baoo on May 03, 2023, 08:14:15 PM Well, there is a plenty of mistakes that beginner traders make , the most common ones are :
Lack of knowledge, they trade and make risky decisions without even knowing the basics of this field, that’s why they end up losing all their capital in short time. Over confidence as well, they usually start with a huge capital, purchase big amounts of Altcoins especially the shit ones who have fake volumes and expecting a large returns in short period and unfortunately that will never happen. Plus lack of self-control, they panic sell when a sudden bear run occurs and make idiotic decisions , they could not hold their crypto specifically in tough moments for fear of losing more. Title: Re: Beginner mistakes and how to avoid them Post by: Twentyonepaylots on May 03, 2023, 09:21:03 PM Those tactics are for people who are quite new to the trading scene and are waiting just to get rekt. There are a lot of newbie traders that are going into the market head-on without any safety or any precautions before investing. They might lose everything in one swoop and that could really happen. I think we all have those days and the goal should be to prevent that. It must be admitted that there are still many beginners who trade naively,The best way to win is to be consistent and not be emotionally attached towards the market sentiment. i think they need to learn more and understand what crypto is like, because otherwise it will be a waste of time only and will lose easily. Indeed, some just really don't know what they enter making them more losses than gaining profit. Trading involves risking your own money so we should always be careful and have plan before doing it so that we can get the desired results that we want. Mistakes as a beginner is normal yet we can minimize those mistakes by really training yourself, equipping yourself with knowledge regarding crypto, and really putting an effort and time to do it since it does not happen overnight that you can master trading, you should take your time to learn and have experiences and again learn from that. Also, emotions plays an important role in your decisions so learn to manage it so that it cannot affect your decisions in any negative way possible. Title: Re: Beginner mistakes and how to avoid them Post by: Natalim on May 03, 2023, 09:46:56 PM Those tactics are for people who are quite new to the trading scene and are waiting just to get rekt. There are a lot of newbie traders that are going into the market head-on without any safety or any precautions before investing. They might lose everything in one swoop and that could really happen. I think we all have those days and the goal should be to prevent that. Well, I see that newbie's time is a learning time for them and I would be expecting terrible losses. I'd still remember my newbie time joining crypto trading, the confidence is not really there, and my decisions keeps on changing when the market trend changed as well.Quote The best way to win is to be consistent and not be emotionally attached towards the market sentiment. It all comes that far when we fully understand how trading works and our experience would really help us. More experience, more knowledge which is a medium to our success but the sad thing is that we have to suffer losses first before we get it. Title: Re: Beginner mistakes and how to avoid them Post by: Sebas.tian on May 04, 2023, 03:54:14 AM If you have a huge amount of capital as a newbie, and you lacked knowledge of crypto trading in the market, it will not help you to get what other traders are getting in the market than to make you feel bad about the losses you will be experiencing from your trading. As a newbie, take your time to learn crypto trading before going into trading, because crypto trading is different from other trading because you need to purchase coins when the price is low in the market, and trade when the price is high in the market which is the simple strategy many potential traders are using to make profits from their trading.
Title: Re: Beginner mistakes and how to avoid them Post by: beerlover on May 04, 2023, 03:14:31 PM Those tactics are for people who are quite new to the trading scene and are waiting just to get rekt. There are a lot of newbie traders that are going into the market head-on without any safety or any precautions before investing. They might lose everything in one swoop and that could really happen. I think we all have those days and the goal should be to prevent that. Implementing a trading technique that works better in trading is also a good step to take, but if the approach is incorrect, losses will be recorded on a daily basis. Specifically, without risk management, trading accounts are likely to be liquidated, and we would wish for another chance to trade. We should invest our time in deepening our understanding of the market and the best times to buy and sell. The traders' emotional stability and constancy is what drives them to make huge profits. Trading gets smoother and easier as a trader practices and acquires these skills. The best way to win is to be consistent and not be emotionally attached towards the market sentiment. I understand the need for getting rich quick because we are all having financial trouble every single day, but that doesn't mean that we are going to do well enough if we keep on trying to make that happen. Slow but gradual process of making money is always the realistic and the right thing to do. Title: Re: Beginner mistakes and how to avoid them Post by: Lanatsa on May 04, 2023, 03:52:18 PM Those tactics are for people who are quite new to the trading scene and are waiting just to get rekt. There are a lot of newbie traders that are going into the market head-on without any safety or any precautions before investing. They might lose everything in one swoop and that could really happen. I think we all have those days and the goal should be to prevent that. Implementing a trading technique that works better in trading is also a good step to take, but if the approach is incorrect, losses will be recorded on a daily basis. Specifically, without risk management, trading accounts are likely to be liquidated, and we would wish for another chance to trade. We should invest our time in deepening our understanding of the market and the best times to buy and sell. The traders' emotional stability and constancy is what drives them to make huge profits. Trading gets smoother and easier as a trader practices and acquires these skills. The best way to win is to be consistent and not be emotionally attached towards the market sentiment. I understand the need for getting rich quick because we are all having financial trouble every single day, but that doesn't mean that we are going to do well enough if we keep on trying to make that happen. Slow but gradual process of making money is always the realistic and the right thing to do. We know that on the time that we are just starting in trading on which we are really that rushing up on making ourselves on getting rich and this is the primary mistake when we do speak about starting up on this career. Weare really that indeed on a rush which it is something that we should need to avoid. Initial profits might be considered as a beginners luck but once you do able to experience losses and the reality of this market then you would be able to say that it was never been easy. Errors are common but the thing you should bare up on mind is you do know on when to get in and do know on when to get out. Always secure profits or simply take out your capital and if you do believe on a project then you could always leave some moon bag. Title: Re: Beginner mistakes and how to avoid them Post by: LUCKMCFLY on May 13, 2023, 09:23:47 PM There is a very particular mistake and that is that newbies want to win a lot of money at once, when they win and see that it is not much money they begin to be disappointed and compare, because at one point they also lose and generally when they lose it is Greater than what they thought. they can win, of course there are many Intrinsic things here, such as seeing how they can act with leverage, how the domain of the broker or Exchange is,all these things are the ones that have a lot of influence, so when taking into account all these things,each change that it is done can change the course of our trading.
Title: Re: Beginner mistakes and how to avoid them Post by: Russlenat on May 13, 2023, 09:59:04 PM For me, my advice to beginners is to trade in the long term and stay away from scalping until they have a good experience in trading. Beginners are more risk of losing their funds so they should never invest for short term but focus on long term trading. That will help them to develop more of their knowledge and skills, and broaden their experiences in trading that will be very important to succeed in their trades. And yes, patience is very vital in trading. You would not seen successful either in investing or trading if you are not patient in the first place. And when we say being patient, that does not mean that you have to be greedy and lose all your future profits. Trading should never be selfish, you have to separate your emotions so you can be successful in any trading attempts you make.Patience and not being greedy are also important tips. These negative traits are the main reason why many novice traders lose. In any case, beginners should not enter into large deals at the beginning, and it is always better to enter with what they can afford to lose. |