Topic: 10 Common Mistakes Beginner Cryptocurrency Traders Do - page 2. (Read 420 times)
I know the basic mistakes of novice traders. 1. You need to buy at the fall, and sell during growth, and not vice versa. 2. It is not necessary to rely completely on the forecasts of analysts, because they are often mistaken.
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?
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?
Lack of marketing knowledge is the top most reason for loss in trading, but another important and basic thing that beginners lack while trading is patience.
FOMO and FUD etc. caused by impatience only. Dreams of getting rich within few days can ruin the trading ability of a user, mostly beginners do the same and thus ends up losing all their investment.
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?
Actually, I don’t think that there is anyone that can even know what to do without even knowing at least what cryptocurrency trading is all about, so it is not like they don’t have the knowledge at all, but I think having quality and enough knowledge before jumping into it has been the problems of beginners and why they fail in their first trading experience.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 think that some of them are quite so greedy also that they don’t want to learn to take little profit because they feel when it comes to trading, it is something that you can start making very fast and large money which is why you could see someone who is a newbie, that has not traded for so long, trying to go into leveraging, which eventually makes them fall as victim of fud, and some of the things listed in this article.
for a new trader that I experienced myself was a mistake to quickly feel satisfied with the results obtained. with a small increase that occurs quickly selling assets and then feeling sorry when the price reaches more expensive than the selling price, we have done. then feeling greedy, which is waiting until the profits obtained become larger and continue to be like that regardless of market conditions. it can produce the maximum profit that should be obtained instead becomes a small profit because it is not aware of market movements that began to fall.
I used to feel the same thing but for now, big or small profits I will still feel satisfied because the most important is the velocity of money used as trading. so I personally prefer to use certain moments on the coin to get profits and fees or small profits when trading I think it is a relative thing
Panic selling and buying at peak were the two mistakes I made initially as a beginner without realizing the bigger picture of the market and I still regret those mistakes but I have learn from it. I have seen newbies investing when the price is at peak assuming it will go high as many people have bought bitcoin when it was over $20k.
for a new trader that I experienced myself was a mistake to quickly feel satisfied with the results obtained. with a small increase that occurs quickly selling assets and then feeling sorry when the price reaches more expensive than the selling price, we have done. then feeling greedy, which is waiting until the profits obtained become larger and continue to be like that regardless of market conditions. it can produce the maximum profit that should be obtained instead becomes a small profit because it is not aware of market movements that began to fall.
I used to feel the same thing but for now, big or small profits I will still feel satisfied because the most important is the velocity of money used as trading. so I personally prefer to use certain moments on the coin to get profits and fees or small profits when trading I think it is a relative thing
for a new trader that I experienced myself was a mistake to quickly feel satisfied with the results obtained. with a small increase that occurs quickly selling assets and then feeling sorry when the price reaches more expensive than the selling price, we have done. then feeling greedy, which is waiting until the profits obtained become larger and continue to be like that regardless of market conditions. it can produce the maximum profit that should be obtained instead becomes a small profit because it is not aware of market movements that began to fall.
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?
In my opinion, the common mistakes beginner crypto traders make include; 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?
1. applying greed while trading by not taking profit when necessary.
2. Some don't even use stop loss. Not using stop loss imply you don't have limit to risk taking. A proper risk management strategy is required to be successful trader.
3. Buying coins because you think they are cheap. Some coins are already abandoned by the team, so before saying "this coin is cheap and that's why I'm buying in" you have to be sure the project is not dead.
4. Following buy calls from pump groups. This kills new traders faster than poison. Do not rely on any pump group especially on telegram, you will get rekt. Try as much as possible to understand technical analysis.
I have a lot to say but let me put a full stop here. Ciao
The major reason behind new people joining cryto is quick profits. Because of which they don't take adequate measures when it comes to hedging risk or minimizing it. They don't understand the importance of the stop loss in this highly volatile market. Cutting losses is equally important as making profits. New traders usually ignore this fact. One more thing that new traders overlook is that the market is ot regulated and hence highly manipulative. Hence, they become the victim.
Common mistakes that are very fatal if not managed properly. The main cause of new traders is not well-studied cryptocurrency ecosystem, so they are very easy to be affected by FOMO, FUD, and drifting. Mostly because they want instant and fast profits, even though it's not that easy, if you have to get the maximum profit, you have to do technical or fundamental analysis.
Besides the ten points discussed in the article, there is one more mistake that traders often make: too greedy. Usually, this happens to daily traders. The case that often happens is when you have taken profit, but see an opportunity to rise from the chart, then enter the market again, it turns out it was the price at the peak, and surely you then know what happened.
Remember, a goal without a plan is just a wish. So we must determine the target with a mature strategy, we must be able to manage emotions and mentality in trading
For newcomers, it is best to gain some good knowledge of crypto currencies as a whole and specifically the coin that they plan to invest in. In a volatile environment of digital market, one cannot survive without having fundamental understanding of it. Only those people who lack this ability get affected by FUDs and FOMOs. They also fail to prevent themselves from scams. Besides the ten points discussed in the article, there is one more mistake that traders often make: too greedy. Usually, this happens to daily traders. The case that often happens is when you have taken profit, but see an opportunity to rise from the chart, then enter the market again, it turns out it was the price at the peak, and surely you then know what happened.
Remember, a goal without a plan is just a wish. So we must determine the target with a mature strategy, we must be able to manage emotions and mentality in trading
Common mistakes that are very fatal if not managed properly. The main cause of new traders is not well-studied cryptocurrency ecosystem, so they are very easy to be affected by FOMO, FUD, and drifting. Mostly because they want instant and fast profits, even though it's not that easy, if you have to get the maximum profit, you have to do technical or fundamental analysis.
Besides the ten points discussed in the article, there is one more mistake that traders often make: too greedy. Usually, this happens to daily traders. The case that often happens is when you have taken profit, but see an opportunity to rise from the chart, then enter the market again, it turns out it was the price at the peak, and surely you then know what happened.
Remember, a goal without a plan is just a wish. So we must determine the target with a mature strategy, we must be able to manage emotions and mentality in trading
Besides the ten points discussed in the article, there is one more mistake that traders often make: too greedy. Usually, this happens to daily traders. The case that often happens is when you have taken profit, but see an opportunity to rise from the chart, then enter the market again, it turns out it was the price at the peak, and surely you then know what happened.
Remember, a goal without a plan is just a wish. So we must determine the target with a mature strategy, we must be able to manage emotions and mentality in trading
the most prominent mistakes beginners are too rushed to expect great things without thinking about the risk in the future. also the lack of knowledge is one of the factors that beginners lose in trading. in my opinion before stepping / making a decision you should understand the field of cryptocurrency first. patience, the breadth of knowledge and psychologists ourselves is my main priority in trading.
Most of them are taking every decision in a rush. They have high expectation and this leads to panic selling when their expectation has not been met. They can't resist seeing the market to fall. Due to a lack of experience, they made a mistake without noticing their own actions in trading. 
the most prominent mistakes beginners are too rushed to expect great things without thinking about the risk in the future. also the lack of knowledge is one of the factors that beginners lose in trading. in my opinion before stepping / making a decision you should understand the field of cryptocurrency first. patience, the breadth of knowledge and psychologists ourselves is my main priority in trading.
The beginner has some common tendency of the trading purpose, I think they think the trading platform is very easy to control and make money from here, So they are moving towards trading without thinking the consequence of the future, generally, they don't have much education and research on the trading pattern and they don't take much time in order to start trading, I think it's not easy to make understand about this trading market but they don't any time, most important thing is thier emotion, I think they are not able to control their emotion when they are in, so this could be a great loss for them and it may ruin their interest to continue trading.
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?
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 risky thing I guess. It is more like spending your time and money for nothing. Engaging to trading with a bit idea and having lack of knowledgeable behind about buy low and sell high stuff is something more like a investing to fraud projects. Because you'll just end up losing a lot of money out there, and gains are closest to none at all. Newbies and those who are just trying to trade probably do these things, and then will complain later on because they gain nothing.
Most newbies dont analyze and just buy and expect for the price to go up, some traders doesnt even know that they can earn profit in decline graph, most of them also dont use stop loss thats why they complain after losing such small amount of money.
to trade safely naturally we must really understand crypocurrency. starting from bitcoin, altcoin and exchanges. we must learn everything before entering the crypto market. and in my opinion there is no harm in asking for advice from people who have long been trading in the crypto market. of course the person I mean is someone who can be trusted and you already know him well. and for beginners if making mistakes is a natural thing to make mistakes as valuable lessons.
Cryptocurrency is risky investment and it becomes more riskier when investors and traders fail to have crypto knowledge beforehand. Some think there will not be gain without risks. But I say that risks will give you profits and gains only when you handle risks smartly. So crypto investors and traders are requested to take risks only after having crypto knowledge.
I would add that list that try not to fall in love to any cryptocurrency or forming any kind of emotional ties to it. It's hard to see straight and execute right sell orders when you have either delusional goals for the exit price or you are acting angry because you feel betrayed by it. This also involves trust. Some trust is needed, but it should be based on the track record, not on sweet talk, promises and excuses.
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?
Lmao 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?
, these mistakes are so true mate. I remember when i bought my Binance Coin at $5 and hurriedly sold at $10 thinking i had sold at the peak. Only to see Binance Coin hit an all time high over $40. Damn, i was so mad at myself i nearly went in back again at such a high price but a friend advised me not to as that seem very high. I think i sold earlier out of impatience as clearly stated in the reference article. This post would serve a great purpose if shared in the Beginner's section as well. I would open a thread about it when i have the time
Since trading is all about prediction on up or down its very easy for anyone to jump in but the real issue here is predicting with big money and when lose comes around it will be the end, trading should be based on strategy and carefully analyzing the market movement
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