10 Common Mistakes Beginner Cryptocurrency Traders Do

[Prateek_sharma]

Well!! Did you know?

Trading crypto is one of the risky thing as a lot of people starts trading without the knowledge of cryptocurrency market.
As a crypto beginner trading crypto safely is one of the best idea ever.

What's your take on this?

[Baby Dragon]

Well!! Did you know?

Trading crypto is one of the risky thing as a lot of people starts trading without the knowledge of cryptocurrency market.
As a crypto beginner trading crypto safely is one of the best idea ever.

What's your take on this?

Well beginners usually take risk without even thinking the result of their decisions and actions that is why most of them end up losing money, its because they don't even bother looking for some information or feedback from other people that may help them. Trading is indeed speculative and having enough knowledge is a powerful tool that can be use to avoid any problem since most of them doesn't analyze things before doing an investment. If they ever feel doubt or confuse in trading they should conduct their own research before making a decision so they won't regret anything if their decision messed up.

[Colt81]

Well!! Did you know?

Trading crypto is one of the risky thing as a lot of people starts trading without the knowledge of cryptocurrency market.
As a crypto beginner trading crypto safely is one of the best idea ever.

What's your take on this?

Well beginners usually take risk without even thinking the result of their decisions and actions that is why most of them end up losing money, its because they don't even bother looking for some information or feedback from other people that may help them. Trading is indeed speculative and having enough knowledge is a powerful tool that can be use to avoid any problem since most of them doesn't analyze things before doing an investment. If they ever feel doubt or confuse in trading they should conduct their own research before making a decision so they won't regret anything if their decision messed up.

Indeed. The common mistakes of a beginner cryptocurrency traders is they make decisions carelessly without thinking the positive and negative effect of their trade, that is why they end up having losses. Also, other beginner traders can't control their emotions when they saw the market price is falling down, which they start to panic sell and will result having a huge loss that they don't have any patience to wait to recover it's price before selling it.

[Brybro27]

Well!! Did you know?

Trading crypto is one of the risky thing as a lot of people starts trading without the knowledge of cryptocurrency market.
As a crypto beginner trading crypto safely is one of the best idea ever.

What's your take on this?

Biggest mistake that everyone makes, not only beginner traders, is listening to others and investing based on other's suggestions/recommendations.

Unfortunately, as of right now, this space is filled with scammers and businesses that can be persuaded by money. So everything you read about a project has at least a 50% chance of being populated by a scammer, or by a paid expert (ICOBench and other ICO listing sites).

Saying this, my biggest takeaway is not only just doing your own research, but creating discussion with the actual team and learning more about them. The first thing I do when learning about a new project is joining their Telegram group and asking questions about their website/whitepaper. You will learn so much based on the team's answers, if they even provide answers.

[cudora]

I would not start the crypto adventure with trading, because if you look at statics, 95 percent of all traders are taking losses and the risks of losing money is even bigger as by investing in an ICO or an IEO on a bad exchange.

[panganib999]

Well!! Did you know?

Trading crypto is one of the risky thing as a lot of people starts trading without the knowledge of cryptocurrency market.
As a crypto beginner trading crypto safely is one of the best idea ever.

What's your take on this?

What could be more best than trading crypto safely is getting to know it and the whole cryptocurrency deeply. Understanding how it works, be it mining, trading, investing and such, you will be needing to study it so well so you won't be putting yourself in anything that could mess you up. Crypto space at this rate, is full of scammers and cyber criminals so being naive and innocent here is like wearing a deer costume during hunting season, you're surely putting yourself in danger and will be doomed.

[Prateek_sharma]

Well!! Did you know?

Trading crypto is one of the risky thing as a lot of people starts trading without the knowledge of cryptocurrency market.
As a crypto beginner trading crypto safely is one of the best idea ever.

What's your take on this?

Well beginners usually take risk without even thinking the result of their decisions and actions that is why most of them end up losing money, its because they don't even bother looking for some information or feedback from other people that may help them. Trading is indeed speculative and having enough knowledge is a powerful tool that can be use to avoid any problem since most of them doesn't analyze things before doing an investment. If they ever feel doubt or confuse in trading they should conduct their own research before making a decision so they won't regret anything if their decision messed up.

Yeah researching the whole crypto market before trading is one of the best idea ever in order to escape from loss of funds.

[Stanlo]

Well!! Did you know?

Trading crypto is one of the risky thing as a lot of people starts trading without the knowledge of cryptocurrency market.
As a crypto beginner trading crypto safely is one of the best idea ever.

What's your take on this?

Expert crypto traders lose money in trading as well, we can't control people to learn first because they like learning the hard way, once they start losing money they will either quit or find ways to learn the strategy of trading, knowledge is power only for those who wants it

[stephanirain]

Well!! Did you know?

Trading crypto is one of the risky thing as a lot of people starts trading without the knowledge of cryptocurrency market.
As a crypto beginner trading crypto safely is one of the best idea ever.

What's your take on this?

Most of the new investors nowadays are impulsive and greedy. They often do not think first nor research more about the coin. Research is a vital process of trading and investment that's why everyone in this industry must practice it. Researching can also improve your future decisions and help you tackle any problems ahead. Knowledge indeed, is a critical factor to determine how successful a trader can become.

[4maxzath7]

Well!! Did you know?

Trading crypto is one of the risky thing as a lot of people starts trading without the knowledge of cryptocurrency market.
As a crypto beginner trading crypto safely is one of the best idea ever.

What's your take on this?

I'm also a man who has started to participate in crypto currency exchange, i'm very confused about this market, and when i tell people about this market, people often say not to participate.

I don' t know why?

[HabiebRiziq]

Well!! Did you know?

Trading crypto is one of the risky thing as a lot of people starts trading without the knowledge of cryptocurrency market.
As a crypto beginner trading crypto safely is one of the best idea ever.

What's your take on this?

Indeed knowledge is needed before trading, because if you trade without the knowledge or advice of several people, what you get might be just a loss. To trade better with a small amount and we must be able to observe market movements to be able to determine when the right time to buy coins.

[pedpedped101]

Trading crypto is one of the risky thing as a lot of people starts trading without the knowledge of cryptocurrency market.

There will always be a time to start. So starting does not eliminate any form of error. I have been trading crypto for years now and I can confidently say that I made mistakes at first and mistakes even at this stage are unavoidable, but might be limited. Although, they make me better. Which is also expected of anyone that is new to it.

[tenakha]

Well!! Did you know?

Trading crypto is one of the risky thing as a lot of people starts trading without the knowledge of cryptocurrency market.
As a crypto beginner trading crypto safely is one of the best idea ever.

What's your take on this?

So noone wants to waste time, in their opinion, money is being scattered here, the first person will grab more. The ambition of money leaves the effect of "boom" on those who hear about crypto first time. Already most of the narrators often do not talk about the bad sides, or the person who listens listens what s/he wants. This can not be countered, this is related to the person him/herself. Because not all noobs are like that.

[ecnalubma]

We call it negligence, if new investors fail to understand the nature of their investment failure is inevitable. During the market bullrun a lot of investors lose money due to sudden dump after the price skyrocket mostly new entrants in crypto are primary victims buying the hype and neglecting the negative outcome of fomoing.

[Byakuga]

Its better to rely on your research and learn more about market movement, that is the only way you can move forward in crypto space, no matter how good a crypto project can be always engage in intensive questions

[diazepam666]

Well!! Did you know?

Trading crypto is one of the risky thing as a lot of people starts trading without the knowledge of cryptocurrency market.
As a crypto beginner trading crypto safely is one of the best idea ever.

What's your take on this?

Crypto trading is not all the safest way to invest their fund. If you are a beginner also I will not suggest to go with the any trading platform without the proper training and until you settle with your experience.
You need to set the low amount in everyday trade practices.
Once you learned all the tactics then you can start trading.

[desticy]

In my opinion, the most important mistake of a beginner trader is that he is engaged in trading in the place of training.Because most of the situations listed in the article can be reversed to your advantage.
For example, in the case of the Dump and Pump scheme, an experienced trader will be able to make money on this, because he knows when to enter and when to exit, he can read quotes, he understands what indicators mean, he understands where is the resistance zone, where are the accumulation zones and etc. It's all about the knowledge that is then put into practice, turning, over time, into a trading strategy.
These are different for a novice trader, with his typical mistakes from an experienced trader. Indeed, if a beginner will do everything correctly, he will earn money as experienced traders do, but since at some moments he does not understand what to do, he makes mistakes and loses money.

[nelson4lov]

The article on coinpedia is quite insightful. The main takeaways:

• Chasing Pumps

 One of the major problems with noobs these days is that they are money-crazed. It's so bad that they jump on almost anything that goes green on coinmarketcap.com

• Trading Blindly + CT}

When one starts their trading careers and these aren't going as expected, no profit, no reward. They start to feel bad. In that instance, They start to place more priority for other people's trading signals etc and when these signals are sent, they just go straight off to open a trade verifying the price action for possible movement. Crypto Twitter is the avenue for all traders, new and old traders to to interact. The problem here lies in the fact that people post about their opinions(chart analysis) and people take it too seriously.

[tabas]

I think the most common mistake has to be traders picking a coin to trade without proper research, them picking a coin just because it's suggested by some influencer they think he/she has a say about what happens in the trading business. Another mistake has to do with lack of planning on money management.

A common mistake, yes. Many beginners tend to trade those coins that are pumping recently and I've seen others relying on youtube channels that are giving their analysis but never take those words from them that those aren't really financial advice. They are giving their opinion about a certain coin and that makes them think that because it was mentioned by a youtuber that they watch, they'll buy and trade it without hesitation.

[dark08]

Being a trader is a good one but its not easy as every one think most beginner mistake for doing crypto trading is lack of risk management, no proper know what is crypto and trading platform.
I read the 10 common mistake on the link that OP prpvide and Yes that its right to be honest even I'm trading for 3years I also make some mistake but because I have a risk management I can recover my loss for my next trading.