Mistakes newbie makes in trading resulting to losses

[Tytanowy Janusz]

4- the fear of missing of out is another major strategy whales use in manipulating prices thats attract newbies to buy at all time high.
 

That's the point I'm still working on after 4 years of trading and 2 years trading for living. I'm still to scared of missing opportunity for lambo than to lose money. Good think is that I'm aware of that and working on it constantly.

[bisdak40]

First of all trading is not like any other job and it is not easy also we need to put some attention on ditto investment especially when trading we need to be more careful because if your mistake was made by us it will definitely lead to loss only.

If we decide to make trading our full time job then we must be sure that we have studied it and we must also be prepared on the consequences that may arise sooner. Per experience, though i am not a full time trader, trading is very stressful and takes a lot of time which lead to health deterioration if not manage properly. For some they acquire wealth through trading but there are also who loses much through it so it is our choice if we would make that our full time job.

[artdisrupt]

Before you start trading on crypto asset at any given time of the day , one of the first thing i recommended for both newbie and expert is to search for the latest crypto related news online or on TV shows  and analyses economic data of the crypto asset you are interested in and also the host country economic data where the asset is base if the country is experiencing crises or not . this will give direction on how the market will be going  through out the day , and also follow whales frequent twitting about a crypto asset who you are privilege to follow on twitter. before taking any critical financial decision . this will help alot to avoid losses .

[kkaroul4]

Both beginners and experienced people will never succeed if they trade in panic when they see market movements and greed when they will profit, trade normally and not take too much risk is the key to success and do some research before going into the market.

That's right because we do not use greed to get big results by trading, we will never succeed in trading. the problem is to do good trading, don't ever get greedy and never take big risks

[gabmen]

Both beginners and experienced people will never succeed if they trade in panic when they see market movements and greed when they will profit, trade normally and not take too much risk is the key to success and do some research before going into the market.

That's right because we do not use greed to get big results by trading, we will never succeed in trading. the problem is to do good trading, don't ever get greedy and never take big risks

Well big risks often offer big rewards and that can be too tempting especially for those who are inexperienced with handling their emotions. All these mistakes will be committed by newbies. It's how they'll learn from them that will determine if they'll be successful or not.

[Vaskiy]

Both beginners and experienced people will never succeed if they trade in panic when they see market movements and greed when they will profit, trade normally and not take too much risk is the key to success and do some research before going into the market.

That's right because we do not use greed to get big results by trading, we will never succeed in trading. the problem is to do good trading, don't ever get greedy and never take big risks

Well big risks often offer big rewards and that can be too tempting especially for those who are inexperienced with handling their emotions. All these mistakes will be committed by newbies. It's how they'll learn from them that will determine if they'll be successful or not.

Initially one should not take big risk, should go with small scale investment at the earlier days. Slowly need to increase the funds upon the growth attained through the same. Newbies should have the basic learning and further when they invest, the loss will be very low compared to that from an user who depend completely on luck for profit through trading.

[jvdp]

Before you start trading on crypto asset at any given time of the day , one of the first thing i recommended for both newbie and expert is to search for the latest crypto related news online or on TV shows  and analyses economic data of the crypto asset you are interested in and also the host country economic data where the asset is base if the country is experiencing crises or not . this will give direction on how the market will be going  through out the day , and also follow whales frequent twitting about a crypto asset who you are privilege to follow on twitter. before taking any critical financial decision . this will help alot to avoid losses .

News or signals nothing will help you in trading, price speculation is all is under your assumption if that gives success you will win if not you will lose the fund. Always try to join the exchange's telegram community to learn the continuous trading flow and price prediction things.
Last few weeks bitcoin and other cryptocurrencies volume has increased at a big level and I was waiting to see the bull run in coming days because of that. Launchpad investment double your funds in few hours once they listed on exchanges. Other than that we cannot guarantee at all.

[wuvdoll]

Oh my god these are soooo perfect. I know it looks like these are stuff we already know but as a person who has been around for so many years now I have met with new people constantly and almost all of the new traders that got into bitcoin all have done the same thing over and over again.

I have met with a dude who asked me how he could purchase bitcoin during the 20 thousand dollar time, like he believed since bitcoin went from being 900-3000 thousand range to 20 thousand dollars range it was a great time for him to buy some bitcoins. I told him not to do it because it is already super high and wouldn't make sense but he bought all the same.

Noobs all make the same mistake, its like they are coordinated on doing the same mistakes over and over again but in reality they are not aware of each other but do the same mistake individually without knowing each other. These things are super common in all new traders, superb post mate.

[pundit]

Everything written here is true, why newbie fail in trading rather 95% of the traders close their account in loss, only 5% traders are successful. Trading needs a proper plan and to execute that plan you need to practice, practice and practice. Greed and fear are not biggest enemies of a trader, controlling both these factors means half way covered. A trading plan should be based on some analysis and based on that analysis, are of entry, exit and SL should be properly placed and adhered. A solid plan with proper execution (comes out of practice) can lead anyone to become a successful trader.

[omonuyak]

Newbies do not know all the principle of investing and trading and as such they are always making loses in their investments.  Stop loss is never in their trading plan and most time they over trade because of the desire to make it big.

[justdimin]

If we decide to make trading our full time job then we must be sure that we have studied it and we must also be prepared on the consequences that may arise sooner. Per experience, though i am not a full time trader, trading is very stressful and takes a lot of time which lead to health deterioration if not manage properly.

I will not recommend for anyone to make trading as their main job, unless you’ve been into it for years and have also gained experience to the extent you have become an expert and very sure that you can live your life just by being a trader, cause if not, then you’re probably making a huge mistake. Don’t just quit your job because of trading, if you do, you might end up regretting why you ever did.

There are several mistake newbies often make during the course of trading which are listed below:
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Wow that is cool and it’s really going to be of help. Greed is one bad thing lol, and lots of traders are quite greedy. No one is satisfied with little profit, they want to make quick money and huge profit in a once trade. Especially those ones that invest a little money and expect to make huge profit, more than what they invested before. Anyone who wants to succeed in this should learn not to be too greedy.

[swetka]

Everything written here is true, why newbie fail in trading rather 95% of the traders close their account in loss, only 5% traders are successful. Trading needs a proper plan and to execute that plan you need to practice, practice and practice. Greed and fear are not biggest enemies of a trader, controlling both these factors means half way covered. A trading plan should be based on some analysis and based on that analysis, are of entry, exit and SL should be properly placed and adhered. A solid plan with proper execution (comes out of practice) can lead anyone to become a successful trader.

If you indicate such indicators, I am inclined to think that it is exactly 5% of all traders, these are really professionals who know not only the basics of trading, but also the entire cryptocurrency market and how it operates. All other users of cryptocurrency are practically visiting visitors who are trying to make a profit, which circumstances allow them to receive. But nevertheless, it is thanks to the actions of all traders that the present is supported in the circumstances of the cryptocurrency market.

[1Referee]

Newbies do not know all the principle of investing and trading and as such they are always making loses in their investments.  Stop loss is never in their trading plan and most time they over trade because of the desire to make it big.

I know someone who jumped into trading and got rekt completely after 3 weeks of trading, and this happened by placing very tight stops. This is what happens when people don't understand how leverage works. I literally warned that person to not proceed with trading, but did it anyway and this is the result.

The fun part (or the sad part, depending on how you look at it) is that I was blamed for the losses because I didn't want him to profit he said, lol. It's a classic example of how people getting rekt blame external elements and not themselves, which is why they keep losing because they don't know what went wrong. It's very silly but super common amongst get rich quick minded noobies.

The worst noobs are those who made some lucky profits at the very beginning and now think they know how the market works. Meh.

[akram143]

Trading is not a quick get rich scheme. But having quality knowledge about price movement of crypto asset is essential before taking crypto trading as a full time job.

There are several mistake newbies often make during the course of trading which are listed below:

1- Buying of a crypto asset that is already high without stop loss and  selling low because of uncertainty of indecision candle  in chart.

2- over reacting to sudden change of prices which leads to Panic selling.

3- Trading without any strategy  in mind before placing an order.
 
4- the fear of missing of out is another major strategy whales use in manipulating prices thats attract newbies to buy at all time high.

5- Trading with 100% of the portfolio in only a single trade instead of spreading hard earn money in different trade.

6-not taking proper rest and allow the brain to relax in taking proper decision in entry or existing orders.

7- Greed is never be satisfied with the little profit,is an emotions that create an hunger for more profit.this hunger for more profit without setting take profit or stop loss result to losses due to over excitement of trend movement that favors the trader

These are mistake that newbie make that result to loss of their hard earn money in crypto exchange trading.

Hence to avoid all these mistakes you need to to learn different trading strategy and different chart pattern and historical data analysis of crypto asset.

We have seniors in the forum , their contribution will be vital and help everyone to avoid mistakes ,these are just my experience and observation.
Have a cool crypto trading .

every important points are mentioned here so it will be definitely useful for the new people and also for the experience repeated because nowadays we don't have a proper guidance to be a good trader so following some good trading strategies and also learning how to regret the mistakes in this field was very important I think it will be helpful for them.

[BlackPanda]

A beginner is very appropriate when making a decision because they are learning, by making smarter decisions, they will get an extraordinary experience.
This is good capital, when a trader keeps trying, they will have skills that continue to increase.
elieve that someone is struggling so hard they will get satisfying results.

[upsidedown75]

4- the fear of missing of out is another major strategy whales use in manipulating prices thats attract newbies to buy at all time high.
 

That's the point I'm still working on after 4 years of trading and 2 years trading for living. I'm still to scared of missing opportunity for lambo than to lose money. Good think is that I'm aware of that and working on it constantly.

Well, each and every one of us is guilty of this but the thing is that we cannot have it us, in as much as we strictly pray for success, some of our trades much surely fail no matter what, we can only try to keep it at minimal, whatever will be will be has been my watch word in this market, that is why I don’t allow the fear of missing out to manipulate me and make me make a mistake that I will forever regret for the rest of my life.

Now, I am learning to play along seriously with the whales too in this market because they have seriously dealt with me while I was a newbie and I am strong now and won’t allow them manipulate me any longer. I think many people are also learning to overcome FOMO and that is why the market is getting stable.

[annango]

Agreed with all the points, beginner trader usually panic when the price suddenly crash and they make an action without thinking twice because of the panic. It's all about experience, beginner/newbie trader takes time to learn about it and i'm sure they will learn from their mistake.

Mistake happens to all trader no matter they are beginners, intermediate or even pro.
Regarding to panic, probably the pro who can manage this situation. Most beginners and intermediate trader will be still affected by their emotion once there is a price drop.
Yeah, learning from the mistakes is a must to make a better decision in the next trading activities. Overall, this is about money management and emotion management.

Yep, making mistake is brutally normal in trading or investing as well. I can say for sure that we all used to make mistake when doing anything especially in some first stage of the work.  However, it’s not a big deal when we make a mistake, because learning from mistake is one of the best lesson that can help us be more professional, careful. However, Remember that “ learning from your mistakes and, most importantly, and you should avoid making the same mistake twice”, it's a good way to save time and money.

[Whosdaddy]

With all these points you listed mate, I think you are the most senior in the forum LOL.
You have already said it all but my issue with many trader is that they read all these virtually every day, they have heard lots of advises and yet they still allow their emotion and greed to set in, because these are exactly the two that is destroying most traders and making them leave trading.

Another one I feel you didn’t add is impatience, this is also applicable to professional traders too and not just the newbies, most trader are really impatience even in the market we are in presently and that is why whales can find it easily to manipulate the market by panicking those that are not patient enough to hold on to the market.

[TomArayaSlaya]

Is a lesson many newbies learn along the way and is OK so far they dont continue to carry it along I think is good if they learn and fail retune a little and make a change Life is about forgiving your small mistakes and fixing them and moving on Trading is actually no better

[markdario112616]

Newbies do not know all the principle of investing and trading and as such they are always making loses in their investments.  Stop loss is never in their trading plan and most time they over trade because of the desire to make it big.

Well, That the result of Rushing into decisions. Most of the Newbies nowadays tend to engage in such activities just because of someone told them a stories regarding earning by way of trading, without knowing what they are really into. Also, not that they don't have the Stop loss plan, they don't even what it means, or in general they no nothing at all.

That's why I always advise to those who wanted to try trading, to Educate at least the basic of it and the nature of the main industry they wanted to trade with. Well atleast they are aware on what they are engaging with,