Most common mistakes made by beginner crypto traders!

[finzyoj]

when i was a newbie trader almost every deal I made I closed with a profit! What was that?! a luck? a super profi trader?
no! it was hot market! almost every coin on the market were pumped! so no prob to be a success trader.
but when market began to fall over 70% of my trades brings me losses!
so be careful to begin your traders career on the low market.

Yes, of course! It would be easy to become a successful trader when the market is very lively because all things seems in your favor. All you need to do is to hit a target price based on how much profit you want to attain and sell. As simple as that, easy money! But the struggle strikes when we are on the bearish market. I know it easy for some of us to say HODL in this kind of situations but there are still traders who lose. Well, I think it's already normal since we can't totally get rid of the scared and panicking ones. But I believe we can used to it as time passes. Like me, I am now more patient and remain calm during the days of crisis unlike before who is also a panic seller sometimes.

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[Coyster]

When a newbie begins to trade, I think the last thing that should be on his mind is to become "successful" immediately, that's like a trap that would lead such trader to his or her doom, instead of placing all the focus on success, and how rich you'll become, you need to also think about how to get knowledge, how to learn and how to learn from the mistakes that some other people have probably made.

It took me quite a long time to get into trading, I tested the waters for a very long time, till I decided I now have all it takes, if every new trader can think that way, they probably may stand a good chance of being "successful".

[wildey]

although it's been a long time in the world of cryptocurrency, I'm not very good at trading. although I have followed a few suggestions, but I am always late in getting information about the pump or dump of a coin. Well, that was my mistake.

but, for a long time, people's mistake in trading was "Placing money they cannot afford to lose into trading". when they do that without preparation, and losses occur, they are always angry, saying scam, fraud, and others. Well, I just want to say that when you go into trading, all risks become your responsibility. Well, this information is very useful for traders like me to see weaknesses in trading.

[panganib999]

Really liked the article!

I am new to trading, so any simple advice helps me a lot.  I know the standards of not being too hasty and looking at it as a long-term investment instead of a get rich quick scheme.  I find the hardest part being studying the situation on my own right now.  There is a such a huge flood of information to take in.  I am trying to study the trends and graphs to see what has been happening on a daily/weekly/monthly basis.  It's all very exciting.

I really wish this thread or topic came earlier or  back when I was a beginner in trading cause I lost of count for how many times I've committed mistakes that I regretted big time and all of those were irreversible, like selling at peak prices, getting swayed by my emotions and following my excitement. This will help beginners avoiding the mistakes I wouldn't want them to go through  where I've been. Hopefully neebies will take this advices, more of dos and don'ts, together with them during their trading life and be wiser.

[michellee]

Usually, new traders don't have the patience to wait for the price increase. I have that experience in my beginning started crypto traders. I feel that it is too tired to wait for the price moves to some level price I want, and that makes me desperate. But once my order price filled, I feel happy to see the stress finally release. But then I realize that I need to have patience because the price cannot move for the price I want. If that day, the coin price intends to increase, it will increase, and if it's not, then I need to be patient for more.

[Eugenar]

One of the common mistake I made when I was still beginning to trade is depositing a very small amount of bitcoin or other cryptocurrency assets in an exchange. Basically, what we should do first is to study and know how much would be the trading fee, and minimum trading amount that we need and to balance the profit that we can get. Once I've trusted the platform, I started to deposit better amount and that is the starting point for my trading career. You will have a difficulty in trading for an extremely low deposited amount.

[evgenia_volkova]

If you are unwilling to study and cannot control your emotion then you are not a trader. If you are not able to manage to read, learn and cannot manage emotion then please do not call yourself. It is the basic requirement.