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I hope everyone is good. Today, I will present you top 5 mistakes which are usually do a beginner. I understand these topics from Youtube and like to share it with you. So that no one else will make such a mistake in future.

So let's start♥

1/ 😟 Wrong Investment Strategies 😟

👉 People invest into cryptocurrencies by borrowing money from relatives and panic sell whenever price falls to cut their losses.

👉 People invest big at a very early stage without getting a better understanding of the market.

👉 Invest on shitty coins.

2/ 😟 Improper knowledge 😟

👉 The most common mistake that people do is that they get involved into the crypto currency by a MLM trader.

👉 They invest big without knowing exactly how crypto currency works.

👉 People who get into crypto often don't do proper research before investigating into an Coin or into an ICO.They don't read the "White Paper" of the coin.They don't research about the technology and the team.

👉 People also don't keep them upto date by the latest news and because of this they often miss out the profit opportunities as well as incu huge loses.

3/ 😟 No understanding of price fluctuation 😟

👉 I have seen people getting into cryptocurrencies when it's on a rise and every coin in the market on bull run.

👉 People don't have a holding power.

👉 Fails to understand that crypto currency price also has a tendency to fall.

4/ 😟 Day trading and FUDS 😟

👉 Another common mistakes beginnings do is that they get effected by the FUD's very easily and quickly and therefore sell their coins.

👉 Another mistake what people do is that they join pump and dump groups on Facebook and whatsapp and other social media sites and follow them blindly without DYOR.

👉 Start "Day Trading" which can be very risky if you are a beginner.

5/ 😟 Security risk 😟

👉 Keep all of their long-term #HOLD coins on different exchanges instead if keeping them into digital wallets.

👉 This often pose a serious threat of losing their coin hacking or malfunctioning.

👉 Don't activate 2FA security.

👉 Instead of writing down the key phrases and passwords on a piece of paper they memorize it and often forget their passwords.

Thank you very much everyone 😉

This are real problems faces by a beginner in the industry and it only takes experience or good mentorship for a beginner not to fall into such mistake. This article was helpful and I also learned new things with it

the biggest mistake that beginners in altcoin market make is bag holding!

usually it starts as them trying so hard to make some money in this market and then as they see the pumps they get too excited but enter late into the pump. then by making the biggest mistake of not selling on top of the pump they end up on the downtrend of the pump and dump double sided event. and as they lose money they start asking others what to do since they are newbies and others not wanting the drops to continue will encourage them to bag hold some more so they continue losing almost all their money in this process.

Here's my list of rookie mistakes:
1.Lack of patience/Wants to make lots of money on day 1.
2.Panic selling/Easy frustration every time the price does down by 10%.
3.Refuse to learn about technical and fundamental analysis.
4.Believes that cloud mining websites actually work.
5.Puts lots of coins into only one cryptocurrency exchange platform.
6.Forgets his wallet password/private key. ;D

Another important factor is that people usually think the coins they invest in have fundamental value, which in 99% of the cases is a wrong assumption. Altcoins have nothing to offer other than speculation and empty promises.

I see so many people fomo in when altcoins have tanked hard, all because they believe it can't go down any lower, and when it does go much lower they are completely shocked.

I made the same mistake years ago as rookie, and altcoins to this day haven't changed for the better at all. From 1001 different coins you have to randomly pick 1 or 2 that will behave differently, which is near impossible.

Bitcoin is the safest bet.

aaaaaaand probably the #1 mistake of most people in the cryptocurrency space:

Expecting that investing in bitcoin/cryptocurrencies is their key to riches/out of poverty. If anything, this is probably the worst mistake people make. I mean, of course I'm not against investing in bitcoin/crypto, but going all in on crypto expecting for guaranteed profit? That's something else. I know a few people who went big money(probably 90%) on XRP somewhere near it's peak price. Saying that they're screwed is a huge understatement.

It is also a great help for newcomers in the forum as well as new traders or new investors so they also earn money in the right way.

I think the biggest mistake here is how trading investors are losing today because the prices of altcoins have fallen today.

Without those mistakes, people will never learned. That's the reality. Even newbies will read that, most of them will not fully understand it because they didn't know the actual situation.

Let them learned the basic information and that's it. If they will experienced mistake on the way then so be it. Those mistakes will keep them more of a better crypto person that's why it's good if they will experienced the mistake in actual.

After all, as soon as they progress, they will now try avoid those mistakes in the future.

Interesting, I am not sure whats about the FUD and Day trading but surely FUD alone is very hard thing that can damage the way crypto currency are hiking these days. Surely beginners tend to fall for the FUD a lot because they are all always scared about the smallest bad news around the crypto market. I guess what you explained in the point of "No understanding of price fluctuation" is the similar thing to having more faith on the FUD and thus it makes sense why they fall for it at all. Beginner are always there to make such mistakes and also contribute to the FUD itself. :-/

I agree with the rest but wrong investment strategies is just normal when you are a beginner. You can acquire those strategies once you get a lot of experience and you get used to the market flow. Losing in your first months is just normal and it should make you smarter next time. Beginners shouldnt be afraid to try.

Believing in FUD and other negative speculations on bitcoin doesn't help us and the worst was, the beginners tend to lose control over their fears on cryptocurrency holdings to fall. My suggestions to them is they needed to hold at first their coins purchased lately, and never engage in any day trading because they're not skilled yet. These guys isn't doing it right and they really need some sort of advice from experienced long term traders like us.

Having proper knowledge. That is my step 2.
I first tried to trade just for fun with a little amount of money as capital.
I do believe in testing it first for experience. Then afterwards, you could go and read what token you will be investing with to be your daily trade.

Price fluctuation matters. With an idle token there is no sense in making trades. I see a lot of people who wants volatility and yet they call themselves day traders. Foolish brains.

Circumstances will also matter. Just like now with Ethereum as an example. It is too low and I know many have bought from the $450 to 500 and are now at lost. Waiting will then take place.

Nothing wrong with day trading. I started day trading when I am a beginner and until now I still day trade. I love day trading. I easily shows you how much profits did you take in a day and prepare for another trade next day. It's more like a day job to me. day trading may not work for anyone but it doesnt mean its a bad strategy.

You can only learn so much from reading, which is why I encourage everyone I know who is interested in trading cryptocurrency to start out with a small amount or trade on an exchange demo account. I know nobody who's ever been perfect at anything the first time, and if anything, you gain more knowledge making mistakes, but only if you end up correcting them.

I have to disagree with your statement about not activating 2FA, however. Most people I've observed have had a hard time with 2FA upon losing or changing phones, but 2FA has saved me many, many times from people hacking my accounts through bruteforcing the passwords. If you write down your recovery key for your 2FA account, it is a very good and viable way to further secure your trading accounts.

Pretty much. The beginner mistake in this case is not that beginners go straight to day trading. It's just that they usually sort of go all in on their funds immediately, not taking management. People in general just underestimate day trading, thinking that they can easily time the markets.

One more thing is FOMO when the price bull run and panic sell when the price on the bottom. FOMO is natural emotion and all newbies did it and finally they loss money, but learn from the pass  we can avoid FOMO and make better investment strategy.

It is also important not to make mistakes by trusting others with your funds; which defeats all cryptocurrency goals, which were created to empower everyone with the ownership of their real money without trusting third parties like banks.

thanks for the article by OP.  it reminded me of the mistakes i had some years ago when i was just a newbie in crypto world - i had almost all the listed mistakes, 4/5 actually - wrong investment strategy, improper knowledge and lack of research, day trading on fuds.  and also, i tend to forget where i invested my coins in - not listing or recording the sites and not following up.  and sometimes i forgot my passwords that i didn't list on my notepad.

not handle it correctly
disobedience
not focus with this or not interested
or without knowledge and trusting on your self
that is the most important attitude that you must apply on yourself if you want to overcome that follow that

I think it is biggest blunder of any one who invest in any thing by taking loan or borrowing money from others. It is a crime with your own self so please eliminate this approach specially in crypto world which is more volatile then other investment opportunities.

The beginners don't have their own trading strategy,and this has made them loose more money reason is for one to make it ,he needs to have a strategy that will help him to know the limit he will set,to know the coins to hold and to know when to sell.
A beginner sometimes makes a mistake of clicking phishing websites of which this leads to loosing ones login details to hackers.
A beginner sometimes send tokens to wrong wallet address in exchange instead of the right wallet address .
A beginner buys tokens at high instead of buying low,and this happened as a result of information he gets from one telegram channel and you tubers.
A beginner invest wrongly as a result of not having basic knowledge of fundamental behind the coin he invested on.
A beginner sometimes makes a mistake of not having the private keys or mnemonic phrase of which many beginners have lost fund through this.
The beginners are easily get frustrated when a coin/token they invested on drop in value even when the developers are working on the product development ,the begginers will just sell at low.

Thank you for the article, the article is quite adequate in the case and the mistakes that new investors encounter. This can be a lesson for people to learn more about the future cryptocrurrency market. As for those who have experienced my biggest problem is their lust. Before entering this market, controlling greed is a difficult thing in every case. I believe even newbies and experienced people will stumble on their own greed once in a lifetime, and that can cost you quite a lot.

In my own opinion, the biggest problem in this industry are the new traders in the market who tends to invest a huge amount just because of the hype in the market.

When I first invested in early 2017 I didn't look at the price graphs almost at all. I was only guided by what my friend said about certain projects. Now I understand how crucial it was to understand the market situation although I got in early enough to earn some decent profits.

Those mistakes enumerated by the OP are some real mistakes made by a beginner but all of them fall into one biggest mistake and that one biggest mistake is the LACK OF KNOWLEDGE. So it is advised to study everything before going into trading, read and ask questions, kindly ask an advice from an experienced trader and be reasonable enough for everything, be ready to take the risks.

As a newbie I started holding Bitcoins first, and then slowly got a few Altcoins. I think most people don’t know how crypto works, I don’t know how my phone works but I know who to use it. And the same are important with crypto, you need to know how to use it. If you invest into a coin you want to keep more than a few days or weeks, you don’t need to know how they coded that blockchain, but it will be good see what experts says about the blockchain, and also try to see how the blockchain works, by sending some coins from a wallet.

Also add:
- usage of high level leverage/margins
- trading many pairs simultaneously instead of focusing one 1-2 pairs.

I think that all of the mentioned mistakes are common among beginners and sometimes even those who trade for long. To my mind, to avoid the mistakes in the list you need to have a more responsible attitude to crypto market

You missed the most important part which is Pump and Dump. Most of the beginner traders want to get rich quick.
This is the first mistake they do thinking that Crypto is a get rich quick scheme. They indulge with a few pump and dump people/groups and then invest their money blindly into some coins which they don't even know or have read their project. The newbies face big losses when the coins price gets dumped instantly. Beginners should avoid pump and dumps as they most of the time results in losses.

I don't know about the 5 big mistakes but I know one huge insanely big mistake that all beginners do. I have been in crypto for over 6 years now and I have seen all kinds of people do this mistake when they first get in. Join right at the top.

Now when bitcoin goes up like 100% and the bull run is here and everything is going up people who do not hold bitcoin joins in the market so they won't miss the ride however they join already after the big increase and they make a bit first and when it starts to drop they lose more money than they are comfortable with losing and they leave thinking bitcoin is a "scam" or something.

You do not get in to a financial instrument when its already at 100% increase, basic concept, common sense, yet everyone keeps doing it.

The main problem is the mentality that has not been formed, then the knowledge of the market situation is very minimal and too ambitious to get instant benefits. This is why many traders experience huge losses, then directly blame the market or coins they trade. Even though we know that forming price patterns in the market is our own trading activity. Because it is too easily influenced by the FUD news then panic occurs.

You can also add a problem like loodomania. A novice investor quickly loses the first and second investments, and without studying the problem by which he lost money, he continues to invest new money in order to return the previous losses. Thus begins the game as a casino.

Thanks for share this good article.  It's can help for newbie.  Many  newbie  coming here in trading they invest lot of money for quick rich.  This is main problem for newbie

Good article I do not think thread needed in this section. Since op want to help the newbies with his thread. He or she should have create the thread on the beginners and help section buddy. If there is any use experienced candidates then may be okay to here.

Then mistakes is common what tips or idea being shared at anywhere finally they will get into a victim of any scam.

In my own opinion, the biggest  mistake of every cryptocurrency investors are investing when there is a hype in the market which makes the price of bitcoins to increase so much and then obviously they will not earn profit because the price will dump since it was very high when they bought the token.

I have been trading for 3 years and I still feel like a newbie.
and I always read anything and then put it into practice, but for me trading is not an easy thing.
the most important thing is practice and experience not theory.

The anticipation that cryptocurrencies are volatile and will resulted in loosing of your money within some seconds during trading will help each and everyone to explore first the cryptos, educate themselves on how this thing works and acquire more knowledge will reduce the loosing and will at any rate prevent the 5 big mistake presented on this thread.

I recognized your efforts for writing those problems. Indeed true that borrowing money isn't beneficial. Hence, will just tuen your life down and will not lift your living up with your expectations. Also, greed is somewhat an emotion to be prevented because in trading, losing and winning are both possible. If I may also add, in tems of trading whether on altcoins or other, stop limit and cut loss will be a big help.

The fact that they borrow money to trade is totally wrong, borrowing money for such an investment is quite a risk and people should abstain from that. But I don’t see anything wrong cutting losses, If you think you can’t bear the loss then it’s better for you cut it at the earlier time before it is late and you start regretting. So nothing wrong cutting your losses anyone can do that if they want to.

All of those five mistakes come from greed. All these people reading about get rich quick from Bitcoin and jumped right in without searching for proper knowledge. People should realize that Bitcoin and cryptocurrency isn't a get rich quick scheme. If people want to get rich then invest in yourself, gain knowledge and skill, make a healthy financial plan.

Investing into Bitcoin and crypto hoping to get rich is just the same as dice gambling.

I guess this could help. But I was once a newbie and I knew about these, but I still made some mistakes. I think these mistakes are bound to happen to newbies. And experiencing the consequences of these mistakes makes them a wiser crypto user.

I think improper knowledge and panic selling is the worst thing being a noob in crypto currencies.

Doing a mistake if you are beginner in cryptocurrency or trading is normal if you are beginner but if you are trader like few months ago and years. Doing a mistake is not a nomal but sometimes we can make mistake but not all the time because your knowledge is enough.

It depends on how you look at it. Market is seriously growing and gaining popularity at the moment when to beginner come to market. Professionals can to use of the resulting fluctuations.

Yes, I agree with you, for beginners always want Pump and do not think about dumps which at that time came with the disposal of prices. this is obviously very wrong in trading for beginners. so many beginners must improve that perspective so they don't make mistakes in trading. Long learning is needed to avoid loss.

Most beginners have always been making this terrible mistake thinking all they just need is to just hit an exchange and start trading immediately as long as they are buying the market at a low price and selling at higher price and they cared less to know a lot about the basics of trading, all the things they need to understand to be able to make solid decisions when it comes to trading until they flop so badly losing all their funds.

If they can understand trading is not just some simple arithmetic and a real profession, I guess they will see the huge need to learn first.

Improper knowledge is actually the main problem for most traders and this is why they find it hard to make quality decisions when they are not informed. What has led so many people into borrowing money, or not understanding price fluctuations is because they never bothered about learning where they want to put their money and I wonder why any smart investor would ever be doing that, but of course I remember almost everyone in this category are usually looking for ways to get rich quick and that affects their judgment a lot.

According to me, the five most common mistakes among the beginners in crypto market are:
1.   Investing more than what they cannot afford to lose.
2.   Not diversifying the investments.
3.   Just gambling in the market and speculating, as they enter the market without any knowledge.
4.   Panic selling when the market falls.
5.   Not researching the project carefully before investing in it.

This is not simply a bug that only beginners commit, I suppose anyone who participates in crypto investments may be able to make some mistakes. Also, investing day is not a mistake, with both newbies and acquaintances. Mistakes are subjective and uninformed which leads to the loss of investment. In fact, most traders have a steady income thanks to daily investment.

Fair enough, I respect your 5 views on the most common mistakes people do but I would also add to the list to try and think for themselves and not be just strict followers.

The listed points are issues faced by a beginner. This is why every beginner needs to equip himself or herself with knowledge and try to have the qualities of a good trader. Once a beginner have all those qualities and all knowledge needed, he can be a veteran himself

As in my opinion, you have well described the mistakes that novices and not only them allow.
Separately, I would like to write about the most important mistakes that people make in the market are in my opinion:
1. Lack of necessary knowledge. People start to trade without knowing the necessary information. Or sometimes a little reading about crypto currencies, they think that they are sufficiently educated to make money.
2. Invest the money that they are not ready to lose. And this leads to huge problems in their lives. Unfortunately, sometimes people do suicide  because of such losses.

actually those who are new in the crypto world are tempted to see the money generated by people who have been crypto for a long time, they just don't know the business / way they do it.
and consider it easy then, follow it without knowing about crypto.
so your advice is correct, we must increase our knowledge before investing in anything.

Right.Gather first more relevant information until you will come up with a deep understanding on the nature of crypto and that's the right time to start investing with a minimal amount but with a full knowledge on it.Cryptos are not always on top,their prices will also fall so much better to expect not only profit taking but also losses sometimes.

The big mistake I made was a FOMO disaster.  I fomo'd during the big rise and bought in at the highs as i was afraid of missing the big moves.  A big lesson to learn as I have lost about 80-90% of my funds. 

Yes, from that lessons more traders who happen to trade as a beginner failed, to benefit from their desires to earn profit during those days that price was still on going to rise. They learned a lot that by holding during high price hype, selling can be very profitable instead of holding. Because if we hold more we tend to experience quick crashes.

It is also a great help to know how to change the crypto coins as I think it is also a great help to many people in the early hours of cryptocurrency.

The beginning will be always harder in all the fields so in crypto too there will be much confusion about making strategies to make money but you will get much lessons from your mistake and need to get adjusted with that to be more successful trader.The biggest mistake is lending the money to start crypto trading.

Even if the mentorship is not there, there are so many articles and resources online that can be used to understand all that is necessary before even deciding to put anything serious into any investment and by investment, I am not even talking about cryptocurrency alone.

For instance, you cannot be investing into real estate without at least even understanding all you need to know about real estate and how things are done. People are always too in a haste to make money that they forget what is needful and that is bad.

1. Buy Ledger Nano S or some wallet like that to save your coins. They are safe because they're out from internet.
2. Learn enough before investing. Many lessons are out there.
3. Have a strategy.
4. Have a partner. Good partner is someone who can argue with you.
5. Stay away from margin.
6. Stay away from loan project.

people make mistakes that are natural because we are human, make your mistakes as a lesson so that they don't happen again and make you lose big. as a beginner it would be nice to slowly learn and understand everything in the crypto world so that when there is something we are not confused and panicked like you.

Yes I too agree with you. I would like to add one more mistake which I think is very important. Many investors look at the price of the currency while investing in it. For example, I should buy ABC cryptocurrency because it is cheaper than XYZ cryptocurrency. But one should always look at the market capitalization of the coin instead of the price.

Thanks for the article, it's a pity that often no one listens to someone else's opinion and to such advice, and they think that they are the smartest. But the market will have everyone!)

And I maked this mistake also, im downloaded my private key on different little-known exchanges and now I'm afraid that tokens will ever be stolen(( :'(

The biggest mistake is to believe that you are right and the market is wrong:) this one I think is the biggest disease of all newcomers.

I support your opinion, self-confidence is the biggest mistake in the crypto industry, and not only there.

That is right. These are not the only mistakes that can be made. One must be conscious of the market and the challenges that can spring up in the path of business. The basic of which is the inability to invest in the right coin that results in chaos in the future and does not give you good money in return. This can be guided by researching about the top coins and deciding which fits the best in your interest.

Self confidence is just an attribute that falls in when you know eat you are doing. In one word, self confidence is the result of great knowledge on something.  So, if the knowledge is not there, you will always take decisions with emotions when it comes to the market.
See it like; you going to perform a surgical operation without any medical knowledge and a specialization in surgical operations. That makes you a quack and you can find that in the trading zone as well for those who refuses to learn.

It is also a good help to start trading because it is also a great topic to help people who are beginning to cryptocurrency.Because I always have no idea when I start cryptocurrency but I still have a lot to read about today.

Apparently having mistakes isn't just for newbies but to everyone as mistakes is inevitable and of course no one's perfect. But what newbie had always mistaken is they're already blown away by the thought that cryptos will give them a quick and easy profit which isn't at the first place. So with that kind of thought they've become vulnerable.

Furthermore, if they already realize this they'll be waken and straighten up otherwise grow as they go along here. It's hard reaching your goal if you're sleeping.

The 5 points is very much accurate specially in the second point which is the lack of knowledge that is why when I am speaking about cryptocurrencies in the people who are interested in it I say to them that they need to study the market first and learn about its basics and the price fluctuations and how to invest properly.

FOMO is normal for someone who simply does not know much about how to really be trading the market and all they are always busy looking for is a moving train or a crashing plane.
This is the reason so many new traders always end up losing a lot of money just because they could not get all the knowledge they need on their own to be able to do it right and anyone who skips that part will never get anything good from trading except for them to lose all their funds in the process.

Always active and look the price chart. Also I am not sure about day trade. Since i myself do day trading and earning some profit. I know the profit isn't big but it is better than nothing.

Once greediness comes up in the mind of a traders for sure there are many mistakes He/She going to make where in the end they will loss a big

amount of money. Then, lack of knowledge of reading the graph like candle stick between Buyer and seller, and could also one of the

reason of doing mistakes by the others.

This really is a nice thread, clean, presentable, easy to understand and I learned a lot for sure. Even if I am doing my business with cryptocurrency for over a year now, I still keep doing the same mistakes and what you said in this thread helps me build a new strategy on how to counter attack these common mistakes and turn it to a positive result. I better save this on the thread I created when I have time and I am really sure that those person who will read this will open their eyes and minds with their own mistakes in cryptocurrency.

This is one good thread mate and we are all thankful about your concerns ,all i can see in this topic is a mature account that has been in this forum for long time and observed the market and the people inside .


We have the same vision and understanding in what OPs meaning and that is to open our mind and let u realize all the mistakes we have and may have today and in future .

Greed is indeed one of the main factors when a Trader fails, this is because many Traders do not think wisely and only have money in their minds. Even though a Trader should think more wisely and calmly, they do this to be able to do a good analysis. Greed will only disturb the emotional control possessed by a Trader. So do not ever have that bad nature because it will only close the future that we will achieve.

That you for sharing your view with us as a trader and most of this five mistakes are things that newbies commonize.  In trading you have to learn from your mistakes in other to increase in your intelligence and make more inform investments decision.  I have seeing that learn from the mistake is one of the way the professional become successful in  trading.

Great list, this is the thing that beginner should learn. This market is not easy, and if those newbies takes easy steps to earn money for sure they will lose it later on. Yes we learn from our mistakes but you should not depend on you, its better to prevent it than to suffer later on. Cryptomarket should  take seriously because there is money involve and don't put too much risk on yourself without studying this market.

The biggest mistake for a beginner in cryptocurrencies is not paying attention, lack or knowledge about when to buy and when to sell. and not applying paternity after buying it.

Many beginners do not realize that it will be better to spend their time to learn much about the cryptocurrencies than to hurry up to invest in the wrong altcoins.

People think that bitcoin is like a fast and easy money which isn't true.ts volatile there price is temporary no one know when the price of bitcoin fall and rise.

That lack of knowledge is actually the main problem of majority of traders, most especially in this market. The same thing has happened in stocks and Forex in the past with people hearing that you can make a lot of money by trading the markets and before you know it, people started jumping into the market and expecting some quick returns without learning, and before you know it which is even a leverage market, they end up losing everything.

In my opinion, the biggest mistake for traders is to be impatient and impatient, these two factors will lead you to failure, so be patient to put on the top, and the second factor You have to know your coin security, absolute security. so safe for storage

Most beginners are usually not ready to learn as all they want to do is to gamble the market anyway and as a result of that, they get burned pretty fast. It is always important to take any venture one wants to go into seriously so as to be able to do it well.

People these days are always in a rush to learn, in a rush to want to start trading and then the little time more they could have used to learn, they end up losing their funds and getting frustrated. Trading is a profession and without learning you will definitely fail.

Making mistake is normal because you are newbie and the knowledge that you have is not enough, but you repeating mistake if you are few months or few years here in cryptocurrency is not normal and not acceptable.

all actions that lead to doubt or fear should be excluded. and this can be done only on the basis of statistics, and therefore on the basis of experience

Actually, some newbies are really too hurried when they decide to enter the market. As I think, most beginners almost do not have a intimate preparation before participating on any fields of the whole market. First and foremost, the newbies are lack of knowledge, even they don’t understand much about how the market fluctuates. Besides, some are lazy of searching more details about a coin, or some is just attracted by scam.Generally, I advise all beginners should be more understandable about market in order that they can minimize the risks and get many benefits from market.

this is true!i earned some btc during trading and invest in eos im already bankrupt!

Ignorance is the biggest enemy of a trader. If a person does not want to learn anything, when he is lazy but desires to grab all the money, finally, he will be a miserable loser.

Definitely true, everyday as a trader there are new things that are happening and we can learn from these things.
I am a trader for over a year and I believe I have already matured with the way the market moves, but I still cannot be too overconfident as it's still hard to make money here consistently.

One of the common most mistake made by the beginners is entering into the market at wrong time,for proof we can see that lot of people entered into the market at end of 2017 but at the end they are in great losss until now so we never have to enter new into the market when the market is going very bullish because the prices may srop huge after the bull market.

I also have been in that situation that I made a lot of mistakes. But because of those mistakes I finally have been fully profitable because I now know how to do it properly.

yeah that's what is often overlooked by the cryptocurrency world beginners, for example many newbies who have just entered bitcointalk.org and want to level up so quickly, they don't search for information on the system at bitcointalk.org. In the past it was easy to raise the level up unlike today, there is a merit system. It is true that finding information is easy but reading is lazy.
very good work, with you making this list I hope the cryptocurrency world beginners in this forum can read it and I want basic information about the cryptocurrency world to be listed again to make it easier for beginners.

I agree with you and also i must add that another top mistake beginners in crypto currency market makes is investing an amount they can't afford to lose, most beginners see the crypto market as a way to get rich quick and they will invest all their money, I have seen a lot of beginners make this kind of mistake. In crypto always invest what you can let go should in-case you lose it

Almost all the mentioned factors here above are the factors that can possibly lead to a loss in the first investment. There are certain rules you follow when you enter the market. Some strategies like the cryptocurrency evaluation is very important for it allow you to see in depth the future of your investment and the profit that could be possibly earned.

Besides, learning from mistakes is the only lesson that is unique in guiding you in your own way so it is not a big deal if you loose in the start if you have what it takes to make things go well after that.

lucky if you can correct mistakes and don't do it again. i still experience above things, until now i still learn to be able to profit consistently. the main thing is we must want to learn from mistakes, and longer we can approach perfect knowledge we have

Also beginner trader ia often panic when someone spread the FUD, but they bring profit to expert trader

There are many people that have been around the market for a very long time and yet they make the very same mistakes, so I really do not think that this is a problem of the newbies not taking care of their coins, this is a general problem that happens because people are not used to take care of their computer files as much as they should.

what you mentioned is very true but you can minimize your statement, there may be many new people who cannot control their patience so they make a lot of losses and they do not understand how good and true trading is a very clear influence that will make them loss.

Yeah of course it's not just the newbie who made that mistake, even some older users have done that. I still see many older users who complain about the security of their wallets because they were stolen, then I ask if they use 2fa? they say no. every people must make mistakes and we must learn to improve that

Although there are a lot of mistakes that any newcomer makes, some of the most common mistakes are mentioned below:-

Not doing your homework:- Don't blindly follow anyone's advice instead do proper research and study the industry trends before investing heavily.

Lack of patience:- As it is said: "Patience is a Virtue". You need to have patience, buying and selling without proper planning is not the way it has to be. You need to plan accurately before trading in cryptocurrency.

Inadequate knowledge:- People invest big without knowing exactly how cryptocurrency works. It is necessary to get complete knowledge of what cryptocurrency is and how it works. People need to have an up to date information so that they can take a wise decision during trading in cryptocurrency.

Not maintaining vital information:- Keeping track of passwords, private keys is necessary. Most of the times people don't note them down and memorize them for the time being and then tend to forget them. So it is always beneficial to note them down and keep the information in a safe and secure place.

Avoid 2FA (2 Factor Authentication):- Two-factor authentication acts as a safety parameter as it provides additional security features reducing any spammy attacks.

We beginners make several mistakes that result in loss or can completely kick you out from your circle towards loss. For safety and fine work you must adopt the market knowledge that will enable you to keep everything fine and you will not face any difficulty in handling different conditions. I accentuate on selling time that should take place only in high market and should be limited for small profit only.

Thanks for the advice!! Really appreciate.
Market keeps changing. I still get many things to learn.

A good information shared for beginners. Good work though. Yes everyone who starts up, has initial struggles even though after getting advice from experts or seniors. Everyone would become strong when he/she comes though such incidents. Few easily catch up and few take time to  adapt to the situation. I am sure for everyone the above points would seriously support to gain much experience and solve the basic issues they go through in trading. Keep up the work going.

I agree with you totally. Trader need to be well-prepared before doing anything in that market.

Yes they make all these mistakes, but there is one thing that is not on this list and it surprises me when I see that people doesn’t know that– I mean the fact that this is all about risk. Some people here just don’t know that there is risk in this, they just think that Bitcoin continues to grow forever and that price never falls and all they will be making is profit.

And at last when they happen to lose they will start complaining and saying Bitcoin is scam. Bitcoin is not a scam, risk is something that happens in every investment.

Those many people you are talking about who cannot control their patience or emotions when it comes to trading should not even be trading at all, as trading with emotions certainly shows someone who does not have a plan or strategy and someone who does not have a strategy shows someone who does not have any idea what they are doing when it comes to trading and not ready to learn, and I must say people in this category always end up falling a huge victim when it comes to losing out hugely on their trading funds. The major mistake a lot of beginners make when it comes to trading is taking learning with levity.

Making mistakes will lead to bad consequences during your trading time, and most common mistake is to make a decision without monitoring market price and you sell it. Always make good decisions according to market guiding principles and rules we learn as market basics. Anyhow, start focus on your position right now because you have to make sure you are in by buying coins.

the biggest mistake of beginners in crypto seems to be due to the influence of the news, so that they aren't firm and not optimistic in making decisions, they are swayed by info about crypto which is still not necessarily correct

maybe I think the biggest mistake here is how trading investors are losing today

Yes you are right.Also I did some mistakes when i was newbie though I am not expert now.But I know that maximum newbie do this kind of mistakes.Newbie need to learn more before they tried crypto trading.

This is a good information which very helpful not only for newbies but also for those inspiring investors who's looking for betterment of their
chances inside this business, knowing this information one by one and categorizing how well you can adopt in enhancing your skills are really
beneficial, each mistakes can be corrected by knowing proper ways to begin with.

Exactly.Don't just do trading because your friends are already into it.Study first all the needed information because trading with improper knowledge or even lack of knowledge will not help you at all.It can only make you lose your capital.And be cautious in every decisions you take because crypto investment is a very risky thing.

Right! I have seen this as well. However, we have to understand that being an older user does not necessarily make you smart. A lot of people may be in a place for a very long time and they are too lazy to want to know what is happening around them, how they can do things better and what not to do and you can get to see a newbie who takes learning seriously and will be able to do better than someone who claims to be an old user.

It is just about the readiness to learn and most people even when it comes to trading are too lazy to get that done and that will definitely keep affecting them as they try to proceed in the long run, which also has to do with security that you mentioned as well.

This is good tips, this is a guide for a beginner in cryptocurrencies, and most of the mistakes of beginners are always panic when they see the drop price is more than 5%, I have also experienced, but now I can be calm and relaxed even though the drop price is more than 5 %.

This is very common, and this is because those people lack curiosity, many people think that just by being in the market you will acquire the necessary knowledge and experience to avoid most of the scams and hacks and that is not true, you need to read about the strategies used by scammers and hackers to try to get to your coins and until you do you are as vulnerable as any newbie.

I think, the guys usually start to panic when they see that the tokens they invested in are falling. It is always better to think it over, which of the altcoins to buy.

Many beginners or newbies feels excited about the profits they possibly get from investing and trading cryptocurrencies. This excitement if they didn't able to contain will lead to joining the trade without basic knowledge in cryptocurrency investing. The result will be financially disaster for them because they had still no basic knowledge in trading. Every newbie should educate themselves first on the basic of crypto trading and they should also learn how the cryptochrrencies works to avoid or lessen their future mistakes.

Out of these five mistake that is common to beginner, number four is the most damaging,  FUD strategy easily get to newbies with fewer experience than those with experience.  The advice I have for newcomer is to always limit their exposure until they are sure they have capacity to trade profitably.

Thank you for useful advice!  :)
In fact, knowledge is always important. I also saw how a person borrows money to invest in a cryptocurrency, in project (ico )...
At the same time, he came to this area 2 weeks ago, inspired by the stories of his friends (who have been in cryptocurrency for over a year)
And he thought he knew a lot, that it was all simple. As a result, he now learns from his own mistakes. So the main thing is to learn, and only then act.

many new traders make big mistakes

risk management is the biggest
there lots of advice and courses in our trading room


join our discord here  for trade signals from the best groups in crypto space >>>> https://discord.gg/7EgTDq

if what I often do wrong when trading for beginners is impatience, always panicking with the decline of the market, selling coins at low prices even though the time will soon rise again and the lack of learning about crypto world trade

Beginners luck in trading can be misleading. Many of newbie traders earn some profit at the beginning and
then they think it is easy and they know everything and not learning. There are no shortcuts in trading,
you have to learn and practice and and get experience.

I totally agreed on all points you delivered mate,i love the way you out those issues and dissecting every little wrong doings of beings cryptonians,hope i can see more thread like this whos all concern is for the people around the forum,without any intentions but to help others to be saved from investing.specially the part when you mentioned about “never borrow money just to invest here,thats clear same thoughts of spending what you can afford to lose

I have also read this knowledges of the mistakes of the transaction as mentioned above but that is just the theory. As you operate, you will be less likely to master the emotion and easily sell off coins. Even if you have many years of experience, with the current market situation on the decline, you can hardly make profit at this time.

I want to believe that is actually what puts them into trouble most of the time and what makes a whole lot of them to panic unnecessarily. When you focus on the short term too much, the possibility of losing sight of the long term will always be there and that is a thing you really do not want to get caught up with as it would always affect their decisions now.

Basically, what most of them are after is quick gains, easy wealth and being able to achieve that fast, but even in the real world, is not always that easy but knowing that this is a great opportunity for the long run, I would say it is best when they simply just focus on the long term instead as that would help them make better decisions.

We perform many mistakes while trading or investing irrespective of whatever source it is but almost all the basic knowledge and procedure of trade is same for all crypto coins. The one major thing we should keep in mind is to do something which we can afford, bear and lose tomorrow that will not affect other life activities which is called proper management.

I think these mistakes will definitely happen to beginners. And experiencing the consequences of these mistakes makes them prefer cryptocurrancy users. To increase your intelligence and make more informed investment decisions.

what you mentioned is that on average it happens with new traders who still do not know how to trade well and correctly, and I also often experience it like this, I often panic and cannot control the patience that I have so often trapped in bad coin.

You mentioned top five things. Special thanks to you.
Trading not so easy, it has more things view to start trade. Not also easy to be a expert trader. We should Always make sense about any kind of good work. So trade is also same like this. Trading investigation will be more powerful and spend a enough time.

ts always easy to see what we should do in hindsight, but there's nothing quite experiencing it yourself to really drill in the lesson. Live and learn right :)
Crypto is full of pump and dump squads, and tbh its no different on normal stock exchanges. A lot of people have jumped on the crypto-train for a quick buck. Which is fine, but people need to invest only what they can afford.Better yet, in the long-term invest in what you believe in. Your money is your vote after all.

Panicking is something that would never solve anybody's problem as that is one thing they should always generally know. It would always be a grave mistake when all you are thinking about is the short term which is what most newbies actually always do.

They invest because they want to get rich quickly and not because they believe in the long term prospect of what they are investing in, which is actually what would bring about that wealth in the long run when there is a real demand for it, but of course, people will never learn will they?

It is interesting that you bring the feeling that newbies have when they trade or they invest, those that make a living out of this are very cool about what they do, if they lose a lot of money they do not mind because they know it is impossible to win every time, and when they win they also remain very collected and they know this is just natural and if they are any good those profits will keep happening.

Yes, there are the reasons you mentioned but also they tend to follow other people's opinions rather than doing the research on their own and they inevitable fail.

Completely agree with you. Moreover, want to add that a lot of true investors invest in various ICO without any knowledge about the project and their plan of development.

I do not agree, because not only beginners, even an expert once have made the same mistake as you mentioned. But if there are no mistakes that means you will never learn. Even though you are a perfect person without ever made mistakes, I think there is no guarantee of success. Because the factor of luck also needs to be considered.

Some investors do not have any goals, so do not earn, you need to first withdraw what you have invested, and then 50% of the profits to withdraw and 50% to reinvest, this strategy works very well

I hope not the only beginner, but many experienced people also faced a lot of problem in 2018 because nobody didn't expect this much of huge fluctuation in the market. Even for beginners and experience should understand in order to recover prices it will take a lot of time to recover the prices.

I guess these information will be useful:
1.Lack of patience\Wants to make lots of money on day 1.
2.Panic selling\Easy frustration every time the price goes down by 10%.
3.Refuse to learn about the technical and fundamental analysis.
4.Believes that cloud mining websites actually work.
5.Puts lots of coins into only one cryptocurrency exchange platform.