What are the usual mistakes that newbie traders usually do?

[satria33]

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?

Common mistakes that usually occur are "panic selling" because there are problems that cause prices to drop dramatically and maybe because they do not understand analytical techniques. and I also experienced that when I first traded.

[maydna]

Maybe they follow other people said that they need to buy one coin without researching the trend or the price. I remember in my first time trading which I don't know much about trading and I join in one channel. In that channel, some people telling that all people need to buy "A" coin because it will pump so high. But unfortunately, it is not happening and makes all people in that channel having a loss because of that person. And the other mistake is having a panic when the price decrease and also when the price increase and makes people buy instantly.

[Leva777]

Since I myself can call myself a newbie, I can say that one of the mistakes is ignoring such a function as stop loss. Another important mistake is to listen to an analyst from the Internet and do everything as he said. In this area it is very important to constantly learn and think with your head.

[qmclak]

Mostly their mistakes was buying wrong coins without doing any research.Sometimes they invest the coins that was hype on facebook.Other reasons they follow groups of friends of people who give them the wrong signal.

[loof99]

Based on my observation and what I heard from them, the biggest mistake they do is they easily panic once the market value of their investments in cryptocurrency is going down and down.
It is a normal situation and you should stay calm and do nothing about it because in future it will goes up again.

[galambo]

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?

Newbies goes for trading which can guve them profits in short term as they have rarely any interest for long term. Also they do forget to really study the phenomenons affecting the market price of the coins they are investing into and also do not much concentrate onto the daily volume, buy/sell orders, etc and this creates some problems for them ahead.

What i have seen the most is that newbies rarely hold their coins and also do some panic sell which gives them none profit and also makes the coin unstable. Newbies should have some patience before getting into trading because patience can really affect your profit rates.

[cjie]

I actually made mistakes when I started trading; I made the mistake of buying some coins when they were pumped which was unknown to me they were pumped during that time. Until now I'm still holding those coins waiting for the price of those coins to go up before I sell. If I should sell those coin it will be a great loss to me. For now, I'm trading with other coins that are a bit doing well in the market.

[mornabo]

The wrong thing as trading newbie's faults is that they immediately enter the trade coin and do not even know so much that the money loses their money.

If I talk about the first step, it is the evaluation of a crypto currency that needs to be carried out. Irrespective of what the media or anyone talk about, you have to do your own research and have to quest for a coin which is worth investing in. If you do not do this, you would be prone to loss in the future because this is the very first step that many investors really care about and the pace of growth of the assets you invest in rely on this factor.

That's what newbies do, even they don't know research and analysis to make choices, all they do is join trade without any
knowledge just by buying and holding them, they think can make a profit? even though trading isn't that easy

[mey466]

A new start error that I have experienced with impatience to quickly make a purchase does not do research first so I buy wrong when the price goes up

[AdoboCandies]

As a newbie in trading I admit that I also commit some mistakes in trading i think it is also common in other newbies as well the first one is panic selling I have fears when the market is down when the market turns red I automatically sell all of my tokens and invest it in another token the next is no strategy I have no strategy in my trading I think that's why I get only low profit or big loss in trading and the next is I always buy the tokens that are advertised in the exchange trollbox.

[icol333]

Some of the newbies in the game followed their "instinct" rather than do it with a clear head. I'm not saying this is bad but relying on your "instinct" will come last, you need to analyze the pattern, do some research, ask help from the expert, prepare the next strategy whether it will be profit or loss. From there you'll gain more experience so it would make things easier in the future.

[anume123]

As I read in the previous topic I post. Because they dont read books and watch youtube to learn in trading. They just hurry and get their money in profit and dont care if they gonna earn or not.

[tbterryboy]

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

This is reality. Even the big fish can be caught in a net. One just needs to know the art to escape the net. This means the art to learn from your own mistakes that can incur you loss. So as long as the market keeps on welcoming new technologies, there will also be a room for new mistakes. However one should initially stay away from investing in cryptocurrency before doing the crypto evaluation. Explore everything about a project and invest only if you have a good probability to earn.

[mkhadazz]

usually what happens to many people trading is they are always easily affected by the conditions or news stories on the internet and they are easy to panic, and the worst is that they cannot control the patience they have so they often get losses because they often do that mistake.

[angaper]

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?

Due to their inexperience and the false expectations with which newbies tend to start this business, there are endless bad practices that often lead them to suffer large losses again and again in a fast and repetitive way, and according to what I have observed in the years that I have been involved in this business, some of the errors are the following:

1) Lack of an adequate trading plan that involves money and risk management.
2) Lack of discipline, patience and emotional control.
3) Ignorance of technical aspects such as stop loss-take profit levels, risk-reward ratio, technical analysis tools, etc.
4) And above all, the search for unrealistic goals and excessive greed.

[zero9119]

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?

Due to their inexperience and the false expectations with which newbies tend to start this business, there are endless bad practices that often lead them to suffer large losses again and again in a fast and repetitive way, and according to what I have observed in the years that I have been involved in this business, some of the errors are the following:

1) Lack of an adequate trading plan that involves money and risk management.
2) Lack of discipline, patience and emotional control.
3) Ignorance of technical aspects such as stop loss-take profit levels, risk-reward ratio, technical analysis tools, etc.
4) And above all, the search for unrealistic goals and excessive greed.

This is a great share from an experienced person in this market that new investors should learn seriously. I also advise newbies to invest a small amount of money initially and remember to invest only in your own capacity.

[revben]

My biggest mistakes are selling just too quick because I do not want to hold a bag. Most times the coin rises within a few hours. Another is buying because you think news are going to move the candles green. This happen with XRP and  I am not stuck with a coin I do not want.

[emberbekas]

usually what happens to many people trading is they are always easily affected by the conditions or news stories on the internet and they are easy to panic, and the worst is that they cannot control the patience they have so they often get losses because they often do that mistake.

Beginners are usually still vulnerable to conditions that occur in the market. They still do not have strong guidelines that they must hold to deal with all possible situations. It will take time so that beginners can reach a more stable level.

[cunguks]

Not knowing what to do is the mistake made by newbies. That was the most common mistake. Knowing nothing leads them to take the wrong decision. Sometimes they tend to be such in hurry. They're panic. In a situation like this, better we do nothing rather than do something which leads us in loss. Trading is very difficult. And all newbies have to go through this risk at first. Once they know what to do, things become easier.

[putrii]

I think from the research I did from a number of people I saw new people around me many new people or these new traders got losses because they could not control their patience and they sold coins at very cheap prices and that was a loss because they bought it when prices are expensive, they are panicked and cannot control their patience, and 90% of the 100 people I research, mistakes are often made by new traders who do not know how to trade properly and correctly.