Beginner mistakes and how to avoid them

[CarnagexD]

Most of the newbies in crypto space believe once they have a large capital they will definitely succeed in the crypto space, but they are wrong, not knowing that if you can't grow/manage a small account, you can't grow/manage a big account either, their are common mistakes they usually make an I will be giving out tips on how to avoid them,
* Over trading-- it's very important for a day trader to limit the number of trade he/she took in a day.
* Lack of trading plan-- develop a strategy an stick to it, do not ever enters a trade blindly, if not the market will remove you blindly.
* Failure to use stop-loss-- to me it's the most important thing I do while trading, an it's always close to my entry price, I do it that way so that if the trade didn't go as planned, I won't lose more than 10% of my margin.
I don't if anyone have more to add, so I can also learn?

Trading is a 3 way system. The way you see the market. The way you trade how you see. And  more importantly Your psychology of how you take the results of your trade. Unless you are equipped with the correct skill and character in front of the market, you will lose your money regardless of how big or small your account.

If you want to learn something, learn the right thing and in the right way. Focus on the right way of trading and not on the mistakes.
1. Have a plan that works for you. Not the plan that is better than the next guy but the best pla for you.
2. Have the ability to consistently execute the plan. Wait when your analysis told you o wait, buy when it told you to buy, take profit when it told you to take profit.
The journey will take a lot of time, persistence, and discipline. You don't need money. It's easy to find investors when you hae the right skill.

[kapalmabur]

Those tactics are for people who are quite new to the trading scene and are waiting just to get rekt. There are a lot of newbie traders that are going into the market head-on without any safety or any precautions before investing. They might lose everything in one swoop and that could really happen. I think we all have those days and the goal should be to prevent that.

The best way to win is to be consistent and not be emotionally attached towards the market sentiment.

It must be admitted that there are still many beginners who trade naively,
i think they need to learn more and understand what crypto is like,
because otherwise it will be a waste of time only and will lose easily.

[omgitsmehehe]

Those tactics are for people who are quite new to the trading scene and are waiting just to get rekt. There are a lot of newbie traders that are going into the market head-on without any safety or any precautions before investing. They might lose everything in one swoop and that could really happen. I think we all have those days and the goal should be to prevent that.

The best way to win is to be consistent and not be emotionally attached towards the market sentiment.

Implementing a trading technique that works better in trading is also a good step to take, but if the approach is incorrect, losses will be recorded on a daily basis. Specifically, without risk management, trading accounts are likely to be liquidated, and we would wish for another chance to trade. We should invest our time in deepening our understanding of the market and the best times to buy and sell. The traders' emotional stability and constancy is what drives them to make huge profits. Trading gets smoother and easier as a trader practices and acquires these skills.

[Oilacris]

Those tactics are for people who are quite new to the trading scene and are waiting just to get rekt. There are a lot of newbie traders that are going into the market head-on without any safety or any precautions before investing. They might lose everything in one swoop and that could really happen. I think we all have those days and the goal should be to prevent that.

The best way to win is to be consistent and not be emotionally attached towards the market sentiment.

Implementing a trading technique that works better in trading is also a good step to take, but if the approach is incorrect, losses will be recorded on a daily basis. Specifically, without risk management, trading accounts are likely to be liquidated, and we would wish for another chance to trade. We should invest our time in deepening our understanding of the market and the best times to buy and sell. The traders' emotional stability and constancy is what drives them to make huge profits. Trading gets smoother and easier as a trader practices and acquires these skills.

And you would be acquiring these skills overtime on the time that you would really be keeping on engaging through it. Not all would really be ending up on a positive outcome or result but better to sustain because we cant really just expect to have a smooth sail ride specially into this kind of industry or this kind of field.It is really just that people are really that really in rush or something
does really like on being perfect on whatever the things that they've been doing.

Just to add up on the list.

1. Dont be emotional when it comes to losses and being that greedy when it gains.
2. Dont make yourself that get used to believe on what you do hear around.
3. Always set Plan B if Plan A would failed.

This is why its really important that you should be aware on what you are doing.

[Baoo]

Well, there is a plenty of mistakes that beginner traders make , the most common ones are :
Lack of knowledge, they trade and make risky decisions without even knowing the basics of this field, that’s why they end up losing all their capital in short time. Over confidence as well, they  usually start with a huge capital, purchase big amounts of Altcoins especially the shit ones who have fake volumes and expecting a large returns in short period and unfortunately that will never happen.
Plus lack of self-control, they panic sell when a sudden bear run occurs and make idiotic decisions , they could not hold their crypto specifically in tough moments for fear of losing more.

[Twentyonepaylots]

Those tactics are for people who are quite new to the trading scene and are waiting just to get rekt. There are a lot of newbie traders that are going into the market head-on without any safety or any precautions before investing. They might lose everything in one swoop and that could really happen. I think we all have those days and the goal should be to prevent that.

The best way to win is to be consistent and not be emotionally attached towards the market sentiment.

It must be admitted that there are still many beginners who trade naively,
i think they need to learn more and understand what crypto is like,
because otherwise it will be a waste of time only and will lose easily.

Indeed, some just really don't know what they enter making them more losses than gaining profit. Trading involves risking your own money so we should always be careful and have plan before doing it so that we can get the desired results that we want. Mistakes as a beginner is normal yet we can minimize those mistakes by really training yourself, equipping yourself with knowledge regarding crypto, and really putting an effort and time to do it since it does not happen overnight that you can master trading, you should take your time to learn and have experiences and again learn from that. Also, emotions plays an important role in your decisions so learn to manage it so that it cannot affect your decisions in any negative way possible.

[Natalim]

Those tactics are for people who are quite new to the trading scene and are waiting just to get rekt. There are a lot of newbie traders that are going into the market head-on without any safety or any precautions before investing. They might lose everything in one swoop and that could really happen. I think we all have those days and the goal should be to prevent that.

Well, I see that newbie's time is a learning time for them and I would be expecting terrible losses. I'd still remember my newbie time joining crypto trading, the confidence is not really there, and my decisions keeps on changing when the market trend changed as well.

The best way to win is to be consistent and not be emotionally attached towards the market sentiment.

It all comes that far when we fully understand how trading works and our experience would really help us.
More experience, more knowledge which is a medium to our success but the sad thing is that we have to suffer losses first before we get it.

[Sebas.tian]

If you have a huge amount of capital as a newbie, and you lacked knowledge of crypto trading in the market, it will not help you to get what other traders are getting in the market than to make you feel bad about the losses you will be experiencing from your trading. As a newbie, take your time to learn crypto trading before going into trading, because crypto trading is different from other trading because you need to purchase coins when the price is low in the market, and trade when the price is high in the market which is the simple strategy many potential traders are using to make profits from their trading.

[beerlover]

Those tactics are for people who are quite new to the trading scene and are waiting just to get rekt. There are a lot of newbie traders that are going into the market head-on without any safety or any precautions before investing. They might lose everything in one swoop and that could really happen. I think we all have those days and the goal should be to prevent that.

The best way to win is to be consistent and not be emotionally attached towards the market sentiment.

Implementing a trading technique that works better in trading is also a good step to take, but if the approach is incorrect, losses will be recorded on a daily basis. Specifically, without risk management, trading accounts are likely to be liquidated, and we would wish for another chance to trade. We should invest our time in deepening our understanding of the market and the best times to buy and sell. The traders' emotional stability and constancy is what drives them to make huge profits. Trading gets smoother and easier as a trader practices and acquires these skills.

There is no liquidation if you are dealing with spot trading, so you could keep holding it as long as you want, and you will not lose 100% of your money unless it is a Luna type of scandal. However, if you buy some terrible token in some terrible exchange because it is not even listed anywhere good, then you are going to lose most of your money and nobody should do that. People who go for such low ranked coins are people who are risking all of their money to make as much as possible.

I understand the need for getting rich quick because we are all having financial trouble every single day, but that doesn't mean that we are going to do well enough if we keep on trying to make that happen. Slow but gradual process of making money is always the realistic and the right thing to do.

[Lanatsa]

Those tactics are for people who are quite new to the trading scene and are waiting just to get rekt. There are a lot of newbie traders that are going into the market head-on without any safety or any precautions before investing. They might lose everything in one swoop and that could really happen. I think we all have those days and the goal should be to prevent that.

The best way to win is to be consistent and not be emotionally attached towards the market sentiment.

Implementing a trading technique that works better in trading is also a good step to take, but if the approach is incorrect, losses will be recorded on a daily basis. Specifically, without risk management, trading accounts are likely to be liquidated, and we would wish for another chance to trade. We should invest our time in deepening our understanding of the market and the best times to buy and sell. The traders' emotional stability and constancy is what drives them to make huge profits. Trading gets smoother and easier as a trader practices and acquires these skills.

There is no liquidation if you are dealing with spot trading, so you could keep holding it as long as you want, and you will not lose 100% of your money unless it is a Luna type of scandal. However, if you buy some terrible token in some terrible exchange because it is not even listed anywhere good, then you are going to lose most of your money and nobody should do that. People who go for such low ranked coins are people who are risking all of their money to make as much as possible.

I understand the need for getting rich quick because we are all having financial trouble every single day, but that doesn't mean that we are going to do well enough if we keep on trying to make that happen. Slow but gradual process of making money is always the realistic and the right thing to do.

You wont really be finding yourself to be liquidated if you are really that dealing with spot but if you do touch up futures then this is where it do looks gambling-like trading specially on making use of high leverage.

We know that on the time that we are just starting in trading on which we are really that rushing up on making ourselves on getting rich and this is the primary mistake when we do speak about
starting up on this career. Weare really that indeed on a rush which it is something that we should need to avoid. Initial profits might be considered as a beginners luck but
once you do able to experience losses and the reality of this market then you would be able to say that it was never been easy.

Errors are common but the thing you should bare up on mind is you do know on when to get in and do know on when to get out. Always secure profits or simply
take out your capital and if you do believe on a project then you could always leave some moon bag.

[LUCKMCFLY]

There is a very particular mistake and that is that newbies want to win a lot of money at once, when they win and see that it is not much money they begin to be disappointed and compare, because at one point they also lose and generally when they lose it is Greater than what they thought. they can win, of course there are many Intrinsic things here, such as seeing how they can act with leverage, how the domain of the broker or Exchange is,all these things are the ones that have a lot of influence, so when taking into account all these things,each change that it is done can change the course of our trading.

[Russlenat]

For me, my advice to beginners is to trade in the long term and stay away from scalping until they have a good experience in trading.

Patience and not being greedy are also important tips. These negative traits are the main reason why many novice traders lose.

In any case, beginners should not enter into large deals at the beginning, and it is always better to enter with what they can afford to lose.

Beginners are more risk of losing their funds so they should never invest for short term but focus on long term trading. That will help them to develop more of their knowledge and skills, and broaden their experiences in trading that will be very important to succeed in their trades. And yes, patience is very vital in trading. You would not seen successful either in investing or trading if you are not patient in the first place. And when we say being patient, that does not mean that you have to be greedy and lose all your future profits. Trading should never be selfish, you have to separate your emotions so you can be successful in any trading attempts you make.