Mistakes newbie makes in trading resulting to losses

[MidnightWolf]

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

in any case, life can be much easier than trading. In trade, you need to put a lot of nuances, While in life we ​​go with the flow, in order to push off from the coast in time. K But if we take into account the current state of the cryptocurrency market, then each user of cryptocurrency should be wary, because today the risks to our assets have increased several times.

[Oceat]

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.

It is a common problem in most newbies in the field of trading since most of them don't know the fundamentals and basics of trading that's why most of them lost and most of them quit after seeing the truth in the trading field. Which is why it is important to do your own research if you aren't familiar with the field that you are about to handle or else you will just gonna waste your time and money.

[Activitycoin]

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

Mistakes should be avoid at first priority after that it is very important to learn from it, most of time new traders use to sell for panic which causes lose at the end, new traders should learn how to trade profitably and make advantage of even a disadvantage, with time technologies are being improve so better for us to take command over it and earn properly.

[BigBrother]

Before you start trading, it is necessary to study charts, diagrams and various trading strategies. And only after you get at least basic knowledge, you can start trading.

[DeadCoin]

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 .

The points seriously reflects almost the same i am going through as a new trader and thank you for bringing these out. Slowly learning from defeats and losses. Trading is a good platform. Need to learn lot more when even playing in it.

[raven7886]

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

Yes, it is not only newbies that makes such mistake because the moment you succeed in making profit through trade up to five times, I no longer see such person has newbie but unfortunately , along the line, many trader becomes more aggressive because they feel they have known it all and need to step up the game, by doing so, they end up falling a victim of what the OP listed in his points.

So, as a professional trader I feel that I am, I still keep those rules glued on the corner of my table to always remind me of the rules of trading because no one is above mistake whether a newbie or pro.

[jems]

In simple terms, in my opinion, if we want to succeed in trading, how do we make decisions, whether it's the decision to choose coins and also the decision to buy and sell, we can get them if we can control ourselves or not be easily panicked

[Thanasis]

Before you start trading, it is necessary to study charts, diagrams and various trading strategies. And only after you get at least basic knowledge, you can start trading.

You can't learn anything if you don't apply them in real life,so just try to start with very low capital and the implement the strategy you are learned so far and make your trades perfect and create your own winning strategy.

[Tigerw]

In simple terms, in my opinion, if we want to succeed in trading, how do we make decisions, whether it's the decision to choose coins and also the decision to buy and sell, we can get them if we can control ourselves or not be easily panicked

for a beginner, it is almost always normal to make used mistakes on which a novice will learn. I hold the opinion that even a negative experience still benefits for the further development of professionalism. One of the most important bruises for a trader is to read the terms of trade on certain exchanges. Including it is necessary to take into account the limits, so that your funds will not be stuck on a certain stock exchange, since you could not adhere to these norms.

[fasdorcas]

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.

This FOMO has been the reason why we see so many rich people enjoying lives and spending on luxuries.
They made millions in cryptocurrency when all of us were sleeping. Initially the price had been very down. Say $1.
Four year of stay here and I bet you would have made fortune. Try to come up with ideas that could work based on the blockchain technology. This thing is getting very profitable with the passage of time.

[asyakashi]

In simple terms, in my opinion, if we want to succeed in trading, how do we make decisions, whether it's the decision to choose coins and also the decision to buy and sell, we can get them if we can control ourselves or not be easily panicked

Panic is an emotional problem that is difficult to control. Beginner traders have a great opportunity to panic and get caught up in trading emotions. yes..this can be trained by continually trying to trade and be patient. this is the hardest part for traders

[Polar91]

In simple terms, in my opinion, if we want to succeed in trading, how do we make decisions, whether it's the decision to choose coins and also the decision to buy and sell, we can get them if we can control ourselves or not be easily panicked

Panic is an emotional problem that is difficult to control. Beginner traders have a great opportunity to panic and get caught up in trading emotions. yes..this can be trained by continually trying to trade and be patient. this is the hardest part for traders

I don't think so. In my opnion, the hardest part for traders is to identify when to enter and exit. This is very crucial part because in just a wrong decision, it can result to losses and more patience to wait it to rebounce or decline.

[shesheboy]

In simple terms, in my opinion, if we want to succeed in trading, how do we make decisions, whether it's the decision to choose coins and also the decision to buy and sell, we can get them if we can control ourselves or not be easily panicked

Panic is an emotional problem that is difficult to control. Beginner traders have a great opportunity to panic and get caught up in trading emotions. yes..this can be trained by continually trying to trade and be patient. this is the hardest part for traders

I don't think so. In my opnion, the hardest part for traders is to identify when to enter and exit. This is very crucial part because in just a wrong decision, it can result to losses and more patience to wait it to rebounce or decline.

Enter if if the market is in dip so that you can accumulate more coins in a bargain price and sell if the market pumps   . there is no need to exit imediately especially if you are doing a good job  . 

only exit you think that your trading skills is not yet enough in which you experience more losses than winnings  .

i agree on the guys above that emotion or self control is the biggest hindrance that can sap our gains but that is normal imo because we are only humans , we are not perfect    . 

[lablab03]

Newbie is very greedy especially when there's someone saying it easy to get money on trading and etc.  Wherein always jumping even have no knowledge about it and when they don't know what to do after putting money  they will repenting and will blame others and sometimes making complaint that crypto is a scam afterwards.  Lol  it's very funny actually how newbies reacting when making mistakes here inside of crypto world.

[kynaz]

Newbie is very greedy especially when there's someone saying it easy to get money on trading and etc.  Wherein always jumping even have no knowledge about it and when they don't know what to do after putting money  they will repenting and will blame others and sometimes making complaint that crypto is a scam afterwards.  Lol  it's very funny actually how newbies reacting when making mistakes here inside of crypto world.

newbie is really hard to teach because they always prove themselves the best in this market and this makes newbie always face many difficulties in trading. I think very few people who are new to this market can succeed because this market really needs a lot of knowledge and any mistake will make you lose a lot of money in a short time. I believe that a greedy newbie is a good thing but needs to set goals before investing

[Caladonian]

In simple terms, in my opinion, if we want to succeed in trading, how do we make decisions, whether it's the decision to choose coins and also the decision to buy and sell, we can get them if we can control ourselves or not be easily panicked

Emotions affects your trading mindsets, if you can do limit your decision according to what trends are showing then you can proceed and survived
with this never ending fluctuations, think wisely before dealing with any position, learning how to adopt market change and avoid your emotions
to conquer when downfall seems to be more heavier than the rising trends, it can be learned you just need to find yourself willingly to free up your
mindsets and keep with your positive goals.

[Xenrise]

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.

True, and for the record, there is no easy money in cryptocurrency. Working ourselves off makes us rich in crypto. If you don't work hard then no money will come to you because hard work pays off. I know a lot of people making trading as a full time job for them. They know a lot of strategy including TA in their trades so that they can win most of it. Nice criteria you got there. What I noticed most is this:

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

Greed is the number 1 problem on all traders. Just like gamblers, we are greedy for profit. Even if we lose too much we still grasping for profit. The best way to stop greed is to control our emotions. A simple phrase yet hard to do.

[Pattart]

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.

It is a common problem in most newbies in the field of trading since most of them don't know the fundamentals and basics of trading that's why most of them lost and most of them quit after seeing the truth in the trading field. Which is why it is important to do your own research if you aren't familiar with the field that you are about to handle or else you will just gonna waste your time and money.

it doesn't matter if they only practice in trading. it will make them know more about the crypto market. the most important thing is
that newbie does not trade with a large amount of funds without qualified knowledge and skills, that is a big mistake

[ethereumhunter]

In simple terms, in my opinion, if we want to succeed in trading, how do we make decisions, whether it's the decision to choose coins and also the decision to buy and sell, we can get them if we can control ourselves or not be easily panicked

Panic is an emotional problem that is difficult to control. Beginner traders have a great opportunity to panic and get caught up in trading emotions. yes..this can be trained by continually trying to trade and be patient. this is the hardest part for traders

All traders have experience in panic and many of us still trying to control that feeling. And if we want to be a good trader, we need to know how to manage the feeling when we are in the worst situations so we can find a way to out from that trouble. Many newbies and pro traders don't realize this and make them sad because the losses, but once they can handle the emotion of panic, then they can start to see a new chance to make a profit.

[St4yInTh3D4rk]

In simple terms, in my opinion, if we want to succeed in trading, how do we make decisions, whether it's the decision to choose coins and also the decision to buy and sell, we can get them if we can control ourselves or not be easily panicked

Emotions affects your trading mindsets, if you can do limit your decision according to what trends are showing then you can proceed and survived
with this never ending fluctuations, think wisely before dealing with any position, learning how to adopt market change and avoid your emotions
to conquer when downfall seems to be more heavier than the rising trends, it can be learned you just need to find yourself willingly to free up your
mindsets and keep with your positive goals.

We need to learn how to use the volatility to make profits,we don't have to limit ourselves just try as much as we can and get more benefits.

I saw many people were buying just the random coins from the exchanges without knowing what the coin is actually about which is why many people losses their money.