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Author Topic: Why newbies lose huge money in trading  (Read 3059 times)
blockman
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July 28, 2021, 04:37:38 PM
 #81

Good knowledge can protect their money. Well knowledge and patient is important for every traders. And maximum new traders do emotional trading, Which is too much bad. The only way to protect their money is knowledge.
Knowledge and knowing how to deal with risk. Knowledge is a vast part of traders' ideas and how it's going to be part of their trading career. And with the excitement that they're going to earn a lot from trading, this false feeling is going to lead them to incur losses and if they're not prepared for it they may lose a lot instead of winning with their trades. They should have avoided it as early as they can because no one is going to win such trades being unprepared.


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July 28, 2021, 04:51:14 PM
 #82

Because they are "newbies". You can't just "learn" how to trade by reading some articles, watching some videos or just knowing the basics. You will have to experience the market by doing real trades. This way you will know what mistakes you are making and you can learn from it. And trust me, you will be making a lot of mistakes in the beginning and lose a lot of money (hence why newbies lose huge money when trading). Eventually you will get hold of the market and will be able to make profit, assuming you avoid your mistakes.

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July 28, 2021, 06:02:36 PM
 #83

Newbies have to learn a lot before they invest in the Forex Market. If you think you are ready for entering the Forex Market, you must first try it with small investments, and later you could increase the amount as the improvement in your knowledge.
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July 28, 2021, 06:33:20 PM
 #84

Newbies also rush things out when they already know even small things about trading. Some of the newbies lose huge amount of money it is because they don't know basic idea about trading. But, losing huge amount of money maybe they can get knowledge in it and lot of experiences which serves as their inspiration to develop the things they did.
Not studying. That's the thing we are looking for, they are not studying, they do not learn more about crypto, they are basically just letting every advice to them become facts and that is their problem, they see some twitter influencer, one of their other newbie friends who joined just a week ago suggest some guy and they see it and they take his word as rule and that is why they lose money.

I have been here for over 8 years and I can say even I do find mistakes in my thinking, which is why newbies not making profit is understandable, however not fixing yourself and not studying it more is their biggest problem.

Let's assume you are brand new and you made a mistake, it is fine and you should learn from your mistake and study to become better right? Well if you end up leveraging even higher to make that money back, that is going to be make people open topics about why newbies lose money.

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July 28, 2021, 08:34:28 PM
 #85

Overconfidence is one of the enemies of a trader, no matter novice or professional traders, usually this mistake arises because they feel that if the analysis is done correctly and has good knowledge,
in fact, the essence of trading is not like that, but about management and anticipation, knowledge alone is not enough if you do not understand management, this is because not all traders who have knowledge have good management, but traders who have good management are traders who have knowledge and experience.
they thinking analisys will always right and never follow the newest situation in market. analizing and then leave it will bring risk if suddenly market have big news that coming suddenly, usually it happen when whales want to shake the market. Market moved very dinamic and situation could changes in every second so we have follow this movement or we will trapped in negative float position. Plan A and Plan B will very usefull to face this situation.
Unfortunately chart reading and TA became such a huge deal in crypto world that there are tons of people who give out "advice" or suggestions on what you should buy and when you should buy it all because they have calculated it on a chart and everyone else believes it, this is why many newbies fall for the fact that TA is the way to make money.

I am not saying that TA is bad, of course you can make money with it but newbies who are not even good at it doing something that could be wrong depending on news of the day? That is just a recipe for losing a lot of money and that is what I believed happened with many newbies, they just believed they could do something and then they failed big time and now they are blaming bitcoin for it as well. Bitcoin had nothing to do with your loss, you just lost your money because you didn't carefully read the situation in crypto world.

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July 28, 2021, 08:59:24 PM
 #86

Newbies are underestimating the trading world making them being over confident that they have already known what they supoosed to know after learning the basics and are putting their money in line having them all out without prior planning on how they will manage on handling their funds properly and as a result instead of gaining profits, what they gain is losses on their trading. Newbies do also lack of patience as well as experience making them having a hard time as well.
Being overconfident is something common for most people who do just starting up into things not only in trading but also in other things as well on where we do really thought that it is just simple and could really make
out money easily but when you are in the actual situation then those expectation and things in mind will surely be broken and that what makes you realize that these things wont really be easy.
Dont be greedy and dont  be that confident because this is something that even old traders or even pros cant able to make a perfect trade.

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July 28, 2021, 10:37:18 PM
 #87

Most newbies lose huge amount of money because, after learning the basics of trading they feel they know it all, they think they can manipulate through the market. But they end up losing big.

No matter what you are thought, you must know this that to be a successful trader, it takes practice and consistency.
There is a purpose why almost all the trading platforms have a demo account, and there is a reason why so many people advise any new traders to take it from a subjective point of view and practice it in order to develop your own strategies and your own ways, it is easy to give the advice but hard to follow it so i advise anyone who is starting out to avoid losing a lot of money through practicing through the demo accounts that some platforms offer

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July 28, 2021, 10:52:03 PM
 #88

Newbies come to trade different coins with little idea about the crypto market and follow different people by watching their videos. In most cases these newbies face losses because they do not know the real picture of the market, if a trader cannot do market analysis and buy a coin depending on someone's signal then they cannot stay in the crypto market for long. A professional trader spends time every day to further improve his trading knowledge. Because I have already seen many traders who quit trading after making fund losses.

On the other hand, there are some newbies who don't know anything about trading and even make huge profits by investing in unknown coins. I would say that the luck of that trader is very helpful for him.

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Wawa2013
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July 28, 2021, 10:52:51 PM
 #89

Most newbies lose huge amount of money because, after learning the basics of trading they feel they know it all, they think they can manipulate through the market. But they end up losing big.

No matter what you are thought, you must know this that to be a successful trader, it takes practice and consistency.
There is a purpose why almost all the trading platforms have a demo account, and there is a reason why so many people advise any new traders to take it from a subjective point of view and practice it in order to develop your own strategies and your own ways, it is easy to give the advice but hard to follow it so i advise anyone who is starting out to avoid losing a lot of money through practicing through the demo accounts that some platforms offer

Beginners do need a lot of trading practice, in order to gain trading experience, so they can find a good strategy to make profit. Moreover, beginners
often make many mistakes when trading, to be able to correct the mistakes made, they need to practice trading. It can be done using a demo account,
so we can practice as much as we need, in order to improve our trading skills. Moreover, the demo account does not require capital, so it will not make us
lose money. But most beginners are lazy to trade with a demo account, they think it is not necessary. They prefer to trade directly with the money they
have and they will eventually fail. So no wonder we will find some beginners who lose a lot of money when trading, because they think trading is easy,
they think trading is just buying low and selling high. Even though the reality is that trading is complicated, it takes a lot of practice.


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lepbagong
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July 29, 2021, 12:03:33 PM
 #90

Most newbies lose huge amount of money because, after learning the basics of trading they feel they know it all, they think they can manipulate through the market. But they end up losing big.

No matter what you are thought, you must know this that to be a successful trader, it takes practice and consistency.
but as a beginner this is a natural thing to happen, just how to respond, because failure is a lesson to improve better and there is no need to despair.
because if you feel hopeless, then you will not be able to improve yourself and to continue again.

most of the newbies are people who think trading is an easy toy...

but if they are consistent and don't run away when they lose then they can make big profits from trading. The point is they must have strong determination and not be influenced by prices and false news.
I agree that consistency is needed with what will be done if it is natural to lose in any action. we must immediately get up to improve and continue what has been done with more confidence and try to be able to take the opportunity to profit in the next step, there is no despair for that.

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July 29, 2021, 06:46:36 PM
 #91

As the headline says... newbie! A person who is inexperienced, a person who is trying something for the first time! And some of them dare to try something for the first time with huge money! This is a clear mistake, never go big if you are doing it for the first time! This works for trading as well as for some other activities like gambling, investing, etc!

I believe there's no person here who didn't make at least a few mistakes in trading! Making mistakes in trading sure means losing some money, and that is not the end of the world! Learn from that, try to be better next time! It's how we get the necessary life experience!

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July 29, 2021, 09:37:22 PM
 #92

Most newbies lose huge amount of money because, after learning the basics of trading they feel they know it all, they think they can manipulate through the market. But they end up losing big.

No matter what you are thought, you must know this that to be a successful trader, it takes practice and consistency.


Yes, you're right. It does take practice and consistency but you see those newbie doesn't want to have that patience.

And what kills them doesn't have two names but rather Greed as it is known.

Many of them believe they've known it all aftermath of making profits in one of their first few trades not knowing they're being welcomed. So they mistakenly tend to be more greedy by increasing their leverage while at this stage they gets robbed and gets kicked out instead.

Patience does it all... 🤗

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July 30, 2021, 05:56:21 AM
 #93

Because lack of experience lead them to loss. Long term trading bring experience and they don't have much patience for holding that's why they lose money and after that they realized at which point they made mistakes. For trading analyzing the coins is needed.

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July 30, 2021, 07:08:19 AM
 #94

Overconfidence is one of a trader's worst adversaries, whether rookie or professional. Traders make this mistake because they believe that if the analysis is done correctly and they have good information, they would be successful. In fact, the essence of trading is about management and anticipation; knowledge alone is insufficient if you do not understand management; this is because not all traders who have knowledge have good management; rather, traders who have knowledge and experience have good management.
yes overconfident is one of most harmful thing in trading world, most of newbies once they see a project that seems promising they usually put all their money into it thinking that the project they invested gonna earn them hundreds thousand percent ROI.
Actually i saw so many people that think they are expert in trading even though they can be categorized as noob and making mistake like this, most of the time when we know very little, we think we already know everything while in fact there is another world out there in trading that we didnt even know.

One proof of how many beginners are too overconfident is what happened to meme coins. After seeing the Dogecoin hype, many newbies bought
other meme coins, they thought the price would pump like what happened to Dogecoin. The fact is that since the Bitcoin price fell, all altcoins prices
fell too and including meme coins, finally a newbie who is too confident with meme coins. Must experience losses, make it a lesson for all of us.
Always do analysis and research before deciding to buy coins, because crypto trading is not an easy thing, must be careful in choosing the coins
to be used for trading.

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July 30, 2021, 07:57:39 AM
 #95

Most newbies lose huge amount of money because, after learning the basics of trading they feel they know it all, they think they can manipulate through the market. But they end up losing big.

No matter what you are thought, you must know this that to be a successful trader, it takes practice and consistency.
Trading really needs time, so as a newbie they need time to know more about trading. You already answered it, because if they don't practice it in a slow way and they rush for earning there is a possibility that instead of earning they maybe loss a huge amount of capital and it is always happening because most of the newbies are hard headed they always think that they know everything about trading even if they not.
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July 30, 2021, 11:44:23 AM
 #96

Trading is not something you rush into or else you loose money. Most newbies loose alot of money because they want to make it big within bw short time and I think that's one of the quickest way to loose your funds. Settle down and learn before you start earning. Very simple
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July 30, 2021, 12:55:20 PM
 #97

it seems they do not use stoploss to manage the risk that has been calculated beforehand. I think it's possible if you use a stop loss, even if you experience a loss, the loss is not large, because we have set the risk limits that we can accept. therefore every trader should use this tool, or else we can invest long term

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July 30, 2021, 01:03:42 PM
 #98

From my own experience, I can say that beginners too often overestimate their capabilities. As a result, they take unjustified risks, which leads to not the most positive results of work.
That's one way of saying being cocky but yes you are right that that's one of the reasons why newbies lose money, in my experience the biggest reason for lose of newbies in trading is just plain old green, they think that getting into trading will always be sunshine and rainbows.

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July 30, 2021, 01:28:24 PM
 #99

On the off chance that you don't treat it in a serious way to keep away from misfortunes, you don't have a thought when it comes exchanging your cash. This is the thing that I consider to be the main parts of exchanging: feelings, essentials, specialized examination, and learning each day. So its truly fine to lose some cash cause venture works like that. In any case, reliably losing isn't solid means you don't learn at all or handle a thing about exchanging.

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July 30, 2021, 01:37:50 PM
 #100

During my first 2 years in crypto (2016 & 2017) I always listen to shills in Twitter. Thats where I get my buy signals. I lose a huge amount of money from buying from rug pull projects.

Most newbies lose huge amount of money because, after learning the basics of trading they feel they know it all, they think they can manipulate through the market. But they end up losing big.

No matter what you are thought, you must know this that to be a successful trader, it takes practice and consistency.


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