5 Big mistakes for a beginner in cryptocurrencies ✌

[otundebis]

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.

[SandraStark]

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.

[the profit zone]

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

[maemunah]

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

[cryptowolfsu]

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.

[Getcoinsite]

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

[petermike]

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.

[rickadone]

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.

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.

[Hiltohen]

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

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.

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.

[katuhakuh]

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.

[umbara ardian]

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.

[sunno330]

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.

[The Scorpion]

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.

[futile-resistance]

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

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.

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?

[Omega Weapon]

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.

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.

[Diced90]

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.

[gpubitcoin]

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.

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.

[xialan_lu]

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.

[Aivaryamal]

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

[btcmegastar]

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.