What are the usual mistakes that newbie traders usually do?

[GreatGEEK]

I guess that one of most common mistakes related with the process of keeping coins. There are traders, who store all their coins on exchange wallet, which is very risky and not wise. For the matter of security it'd be better to leave there only small amount, for trading aims. It’s also ok to use exchange that provides a cold storage (I know that cex (https://cex.io/) does, maybe some other exchanges has such feature too). The rest coins should be transferred to a hardware wallet, or a paper one, they are more secure.

[skish85]

Not a single person is insured against failures and mistakes, even professional traders often bear significant financial losses.

[msk19]

It is better to start trading using small trading orders and not using the whole deposit at once. A calm and balanced attitude to trading, analysis of what is happening is difficult for newcomers if 100% of their deposit was immediately invested in a certain crypto-meter, which instead of growth suddenly began to fall

[djselery]

In my opinion, the most usual mistake that newbie traders usually are doing is starting trading without a good knowledge of this field. Trading could be profitable, but it is also a very risky domain, so without a good knowledge of trading, the percentage of losing will be high.

[escalante28]

Emotion and very aggressive. Trading requires good mental conditions, if you have none of this then you might lose your money. If you do trading just relax and focus don't be aggressive and if you think your out of your plan try to sip some coffee and do some other thinks for 20mins then back to trading. Always refresh your thinking to stay focus. These are my techniques during trading mode.

[syarifudin]

As a new kid in the cryptocurrency world, we often have our share of first mistakes in trading which helps us to be able to become better and wiser in the next transactions. What are these usual or common mistakes that newbies commit?

the majority of experienced by novice traders is a lack of patience and greed in taking advantage and it's almost done by all beginners including when I just learned to trade
Self-control in trading is very necessary and it's very important friends

[Eadefemi]

The most common mistakes I made as a newbie were emotional trading - Fear of Missing Out and Panic-sell which made me eventually made some high buys or to keep HODLing even after moon....

Sometimes, not setting specific sales target or profit margin  could also lead to lack of focus which is bad for trading, especially crypto...

Then, don't be carried away by speculations and baseless assumptions from whales who are only after their own interests...

Be ready to discover more mistakes tho... Cheers

[karungbitcoin]

When first i did crypto trading, my mistake is sell early and buy on the top, and this mistake bring me loss much money. Many Newbies trader did this mistakes and this is natural emotion and from that we can looking for solution for that mistake. Others mistake that i did is not use stop loss because i dont know how to use it, and also many exchange does not have this feature. This is the biggest my mistake and i loss more than 80% in some coin.

[DavidNiva]

Common mistakes made for beginners have not stabilized the emotionally trafficked trading spirit, especially when they hear the fantastic news they like cannot be controlled to sell and buy, two are too greedy always argue that it is always profitable even though sometimes crypto price movements are very unstable, third quickly despair they easily give up when buying and selling without giving results in an instant, even though the crypto business requires high patience ... maybe the input is available at this time.

[cryptoalfs76]

As a new kid in the cryptocurrency world, we often have our share of first mistakes in trading which helps us to be able to become better and wiser in the next transactions. What are these usual or common mistakes that newbies commit?

There are so many mistakes done in trading being as a beginner into this world of cryptoxurrency investment and one factor of them are the fastest decision making and being rushy panicking when in times the markets feel struggle situation,otherwise being a newbie we afraid to become await thats news or happening that we called FUMO (fear of missing out) therefore in order  to become aware into the situation of cryptocurrency we easily to make a decision making of our own investment.

[davinchi]

As a new kid in the cryptocurrency world, we often have our share of first mistakes in trading which helps us to be able to become better and wiser in the next transactions. What are these usual or common mistakes that newbies commit?

There are lots of things newbies pass through in crypto trading, but with time and as you get to learn it, you will start getting better in it and stop losing like you did at first. The number one thing that affects newbies is panic, you will lose a lot if you keep on panicking  learn to compose yourself and plan ahead of time. This business involves risks, so you should be aware of that.

Next thing is, as a newbie you shouldn’t diversify too quickly, stay cool and don’t rush things. Lastly, you shouldn’t spend too much time trading and also try to avoid scams and questions when you should.

[iged_war]

As a new kid in the cryptocurrency world, we often have our share of first mistakes in trading which helps us to be able to become better and wiser in the next transactions. What are these usual or common mistakes that newbies commit?

the majority of experienced by novice traders is a lack of patience and greed in taking advantage and it's almost done by all beginners including when I just learned to trade
Self-control in trading is very necessary and it's very important friends

they should learn to control their psychology and emotion.they have to conscious no one could be rich just in a night.so greedy could make us suffering lot lose.

[koRo11n]

Of the few events that I saw from my friends, they followed trading just because they heard stories from other people who were senior. That this activity is very profitable. But not everyone is lucky like the story they hear. So that my friends just stopped because they felt trading activities were very difficult. So I myself intend to start trading, I intend only for side activities in my free time.

[kolbalish]

Newbies are in a state of confusion. They believe in any fake news and price action. They don't find out the source of news and without knowing the source they start work quickly. Because they lost their sense of greed. Many of them are addicted to earn a lot of money. These mistakes they do more.

[KorakPawon]

I think the common mistake is taking action in the wrong time; including buying or trading, or even holding, so they end up with the wrong action. Besides, they also have no courage to take risk, they afraid to lose and only think of how to make profit as much as possible, and that's what makes them lose control on their own way, in other word, greedy.

[gabmen]

As a new kid in the cryptocurrency world, we often have our share of first mistakes in trading which helps us to be able to become better and wiser in the next transactions. What are these usual or common mistakes that newbies commit?

the majority of experienced by novice traders is a lack of patience and greed in taking advantage and it's almost done by all beginners including when I just learned to trade
Self-control in trading is very necessary and it's very important friends

they should learn to control their psychology and emotion.they have to conscious no one could be rich just in a night.so greedy could make us suffering lot lose.

Well majority of the mistakes newbies make are all connected to their emotions. Too much excitement, greed, impatience and anxiety are just a few that influence a newbie traders' attitude towards trading.

[Riddikulo]

There are many mistakes, actually. But imo the most typical one is refusing to learn and just hoping for the best result. Seriously, I know some people, who think that they can earn on crypto “just because everyone else does”.

When I was a newbie, I was always in a hurry. I was trying to get the fastest result in no time. Later I understood that this strategy was too wrong. You have to be very patient and wait for the money.

[HSRP]

It is impatient, hasty, hasty, so it will easily lead to failure in the transaction and loss. In my opinion, the first thing when entering the cryptographic market is to wait patiently, the market will soon recover

[Nick Abimanyu]

As a new kid in the cryptocurrency world, we often have our share of first mistakes in trading which helps us to be able to become better and wiser in the next transactions. What are these usual or common mistakes that newbies commit?

Buying a coin just because there's no value without waiting for confirmation from the market that the trend has changed.
Buy coins at the wrong time, for example when prices's soaring.
Too easy following the advice of others without doing research first.
Not confident enough so that it makes you sleepless or your mind becomes chaotic.
Always haunted by worry about the high risk.
Do a stop-loss that's too fast because you are too focused on profit or loss.
Study the analysis in a way that is not acceptable.
Considering trading is tantamount to gambling. STOP ! this assumption must be stopped because this's not true.
And the last one is panic too soon and easily emotional.

[kaizerblitz]

I think the mostly reason is panic selling they think that the coin was not have future or suddenly fall on the graph. The other mistakes are they buy directly the coin they want they did not bid on it first. Trading is like gambling you have to be patience in every move you takes.