Topic: 5 Big mistakes for a beginner in cryptocurrencies ✌ - page 3. (Read 2510 times)
what you mentioned is very true but you can minimize your statement, there may be many new people who cannot control their patience so they make a lot of losses and they do not understand how good and true trading is a very clear influence that will make them loss.
This are real problems faces by a beginner in the industry and it only takes experience or good mentorship for a beginner not to fall into such mistake. This article was helpful and I also learned new things with it
There are many people that have been around the market for a very long time and yet they make the very same mistakes, so I really do not think that this is a problem of the newbies not taking care of their coins, this is a general problem that happens because people are not used to take care of their computer files as much as they should. 
Also beginner trader ia often panic when someone spread the FUD, but they bring profit to expert trader
I hope everyone is good. Today, I will present you top 5 mistakes which are usually do a beginner. I understand these topics from Youtube and like to share it with you. So that no one else will make such a mistake in future.
So let's start♥
1/ 😟 Wrong Investment Strategies 😟
👉 People invest into cryptocurrencies by borrowing money from relatives and panic sell whenever price falls to cut their losses.
👉 People invest big at a very early stage without getting a better understanding of the market.
👉 Invest on shitty coins.
2/ 😟 Improper knowledge 😟
👉 The most common mistake that people do is that they get involved into the crypto currency by a MLM trader.
👉 They invest big without knowing exactly how crypto currency works.
👉 People who get into crypto often don't do proper research before investigating into an Coin or into an ICO.They don't read the "White Paper" of the coin.They don't research about the technology and the team.
👉 People also don't keep them upto date by the latest news and because of this they often miss out the profit opportunities as well as incu huge loses.
3/ 😟 No understanding of price fluctuation 😟
👉 I have seen people getting into cryptocurrencies when it's on a rise and every coin in the market on bull run.
👉 People don't have a holding power.
👉 Fails to understand that crypto currency price also has a tendency to fall.
4/ 😟 Day trading and FUDS 😟
👉 Another common mistakes beginnings do is that they get effected by the FUD's very easily and quickly and therefore sell their coins.
👉 Another mistake what people do is that they join pump and dump groups on Facebook and whatsapp and other social media sites and follow them blindly without DYOR.
👉 Start "Day Trading" which can be very risky if you are a beginner.
5/ 😟 Security risk 😟
👉 Keep all of their long-term #HOLD coins on different exchanges instead if keeping them into digital wallets.
👉 This often pose a serious threat of losing their coin hacking or malfunctioning.
👉 Don't activate 2FA security.
👉 Instead of writing down the key phrases and passwords on a piece of paper they memorize it and often forget their passwords.
Thank you very much everyone 😉
So let's start♥
1/ 😟 Wrong Investment Strategies 😟
👉 People invest into cryptocurrencies by borrowing money from relatives and panic sell whenever price falls to cut their losses.
👉 People invest big at a very early stage without getting a better understanding of the market.
👉 Invest on shitty coins.
2/ 😟 Improper knowledge 😟
👉 The most common mistake that people do is that they get involved into the crypto currency by a MLM trader.
👉 They invest big without knowing exactly how crypto currency works.
👉 People who get into crypto often don't do proper research before investigating into an Coin or into an ICO.They don't read the "White Paper" of the coin.They don't research about the technology and the team.
👉 People also don't keep them upto date by the latest news and because of this they often miss out the profit opportunities as well as incu huge loses.
3/ 😟 No understanding of price fluctuation 😟
👉 I have seen people getting into cryptocurrencies when it's on a rise and every coin in the market on bull run.
👉 People don't have a holding power.
👉 Fails to understand that crypto currency price also has a tendency to fall.
4/ 😟 Day trading and FUDS 😟
👉 Another common mistakes beginnings do is that they get effected by the FUD's very easily and quickly and therefore sell their coins.
👉 Another mistake what people do is that they join pump and dump groups on Facebook and whatsapp and other social media sites and follow them blindly without DYOR.
👉 Start "Day Trading" which can be very risky if you are a beginner.
5/ 😟 Security risk 😟
👉 Keep all of their long-term #HOLD coins on different exchanges instead if keeping them into digital wallets.
👉 This often pose a serious threat of losing their coin hacking or malfunctioning.
👉 Don't activate 2FA security.
👉 Instead of writing down the key phrases and passwords on a piece of paper they memorize it and often forget their passwords.
Thank you very much everyone 😉
I also have been in that situation that I made a lot of mistakes. But because of those mistakes I finally have been fully profitable because I now know how to do it properly.
all actions that lead to doubt or fear should be excluded. and this can be done only on the basis of statistics, and therefore on the basis of experience
Almost all the mentioned factors here above are the factors that can possibly lead to a loss in the first investment. There are certain rules you follow when you enter the market. Some strategies like the cryptocurrency evaluation is very important for it allow you to see in depth the future of your investment and the profit that could be possibly earned. Besides, learning from mistakes is the only lesson that is unique in guiding you in your own way so it is not a big deal if you loose in the start if you have what it takes to make things go well after that.
I agree with you and also i must add that another top mistake beginners in crypto currency market makes is investing an amount they can't afford to lose, most beginners see the crypto market as a way to get rich quick and they will invest all their money, I have seen a lot of beginners make this kind of mistake. In crypto always invest what you can let go should in-case you lose it
yeah that's what is often overlooked by the cryptocurrency world beginners, for example many newbies who have just entered bitcointalk.org and want to level up so quickly, they don't search for information on the system at bitcointalk.org. In the past it was easy to raise the level up unlike today, there is a merit system. It is true that finding information is easy but reading is lazy.
very good work, with you making this list I hope the cryptocurrency world beginners in this forum can read it and I want basic information about the cryptocurrency world to be listed again to make it easier for beginners.
very good work, with you making this list I hope the cryptocurrency world beginners in this forum can read it and I want basic information about the cryptocurrency world to be listed again to make it easier for beginners.
I hope everyone is good. Today, I will present you top 5 mistakes which are usually do a beginner. I understand these topics from Youtube and like to share it with you. So that no one else will make such a mistake in future.
So let's start♥
1/ 😟 Wrong Investment Strategies 😟
👉 People invest into cryptocurrencies by borrowing money from relatives and panic sell whenever price falls to cut their losses.
👉 People invest big at a very early stage without getting a better understanding of the market.
👉 Invest on shitty coins.
2/ 😟 Improper knowledge 😟
👉 The most common mistake that people do is that they get involved into the crypto currency by a MLM trader.
👉 They invest big without knowing exactly how crypto currency works.
👉 People who get into crypto often don't do proper research before investigating into an Coin or into an ICO.They don't read the "White Paper" of the coin.They don't research about the technology and the team.
👉 People also don't keep them upto date by the latest news and because of this they often miss out the profit opportunities as well as incu huge loses.
3/ 😟 No understanding of price fluctuation 😟
👉 I have seen people getting into cryptocurrencies when it's on a rise and every coin in the market on bull run.
👉 People don't have a holding power.
👉 Fails to understand that crypto currency price also has a tendency to fall.
4/ 😟 Day trading and FUDS 😟
👉 Another common mistakes beginnings do is that they get effected by the FUD's very easily and quickly and therefore sell their coins.
👉 Another mistake what people do is that they join pump and dump groups on Facebook and whatsapp and other social media sites and follow them blindly without DYOR.
👉 Start "Day Trading" which can be very risky if you are a beginner.
5/ 😟 Security risk 😟
👉 Keep all of their long-term #HOLD coins on different exchanges instead if keeping them into digital wallets.
👉 This often pose a serious threat of losing their coin hacking or malfunctioning.
👉 Don't activate 2FA security.
👉 Instead of writing down the key phrases and passwords on a piece of paper they memorize it and often forget their passwords.
Thank you very much everyone 😉
So let's start♥
1/ 😟 Wrong Investment Strategies 😟
👉 People invest into cryptocurrencies by borrowing money from relatives and panic sell whenever price falls to cut their losses.
👉 People invest big at a very early stage without getting a better understanding of the market.
👉 Invest on shitty coins.
2/ 😟 Improper knowledge 😟
👉 The most common mistake that people do is that they get involved into the crypto currency by a MLM trader.
👉 They invest big without knowing exactly how crypto currency works.
👉 People who get into crypto often don't do proper research before investigating into an Coin or into an ICO.They don't read the "White Paper" of the coin.They don't research about the technology and the team.
👉 People also don't keep them upto date by the latest news and because of this they often miss out the profit opportunities as well as incu huge loses.
3/ 😟 No understanding of price fluctuation 😟
👉 I have seen people getting into cryptocurrencies when it's on a rise and every coin in the market on bull run.
👉 People don't have a holding power.
👉 Fails to understand that crypto currency price also has a tendency to fall.
4/ 😟 Day trading and FUDS 😟
👉 Another common mistakes beginnings do is that they get effected by the FUD's very easily and quickly and therefore sell their coins.
👉 Another mistake what people do is that they join pump and dump groups on Facebook and whatsapp and other social media sites and follow them blindly without DYOR.
👉 Start "Day Trading" which can be very risky if you are a beginner.
5/ 😟 Security risk 😟
👉 Keep all of their long-term #HOLD coins on different exchanges instead if keeping them into digital wallets.
👉 This often pose a serious threat of losing their coin hacking or malfunctioning.
👉 Don't activate 2FA security.
👉 Instead of writing down the key phrases and passwords on a piece of paper they memorize it and often forget their passwords.
Thank you very much everyone 😉
I also have been in that situation that I made a lot of mistakes. But because of those mistakes I finally have been fully profitable because I now know how to do it properly.
One of the common most mistake made by the beginners is entering into the market at wrong time,for proof we can see that lot of people entered into the market at end of 2017 but at the end they are in great losss until now so we never have to enter new into the market when the market is going very bullish because the prices may srop huge after the bull market.
That you for sharing your view with us as a trader and most of this five mistakes are things that newbies commonize. In trading you have to learn from your mistakes in other to increase in your intelligence and make more inform investments decision. I have seeing that learn from the mistake is one of the way the professional become successful in trading.
Great list, this is the thing that beginner should learn. This market is not easy, and if those newbies takes easy steps to earn money for sure they will lose it later on. Yes we learn from our mistakes but you should not depend on you, its better to prevent it than to suffer later on. Cryptomarket should take seriously because there is money involve and don't put too much risk on yourself without studying this market. People these days are always in a rush to learn, in a rush to want to start trading and then the little time more they could have used to learn, they end up losing their funds and getting frustrated. Trading is a profession and without learning you will definitely fail.
Ignorance is the biggest enemy of a trader. If a person does not want to learn anything, when he is lazy but desires to grab all the money, finally, he will be a miserable loser.
I am a trader for over a year and I believe I have already matured with the way the market moves, but I still cannot be too overconfident as it's still hard to make money here consistently.
That you for sharing your view with us as a trader and most of this five mistakes are things that newbies commonize. In trading you have to learn from your mistakes in other to increase in your intelligence and make more inform investments decision. I have seeing that learn from the mistake is one of the way the professional become successful in trading.
Great list, this is the thing that beginner should learn. This market is not easy, and if those newbies takes easy steps to earn money for sure they will lose it later on. Yes we learn from our mistakes but you should not depend on you, its better to prevent it than to suffer later on. Cryptomarket should take seriously because there is money involve and don't put too much risk on yourself without studying this market. People these days are always in a rush to learn, in a rush to want to start trading and then the little time more they could have used to learn, they end up losing their funds and getting frustrated. Trading is a profession and without learning you will definitely fail.
Ignorance is the biggest enemy of a trader. If a person does not want to learn anything, when he is lazy but desires to grab all the money, finally, he will be a miserable loser.
the biggest mistake that beginners in altcoin market make is bag holding!
usually it starts as them trying so hard to make some money in this market and then as they see the pumps they get too excited but enter late into the pump. then by making the biggest mistake of not selling on top of the pump they end up on the downtrend of the pump and dump double sided event. and as they lose money they start asking others what to do since they are newbies and others not wanting the drops to continue will encourage them to bag hold some more so they continue losing almost all their money in this process.
this is true!i earned some btc during trading and invest in eos im already bankrupt! usually it starts as them trying so hard to make some money in this market and then as they see the pumps they get too excited but enter late into the pump. then by making the biggest mistake of not selling on top of the pump they end up on the downtrend of the pump and dump double sided event. and as they lose money they start asking others what to do since they are newbies and others not wanting the drops to continue will encourage them to bag hold some more so they continue losing almost all their money in this process.
According to me, the five most common mistakes among the beginners in crypto market are:
1. Investing more than what they cannot afford to lose.
2. Not diversifying the investments.
3. Just gambling in the market and speculating, as they enter the market without any knowledge.
4. Panic selling when the market falls.
5. Not researching the project carefully before investing in it.
1. Investing more than what they cannot afford to lose.
2. Not diversifying the investments.
3. Just gambling in the market and speculating, as they enter the market without any knowledge.
4. Panic selling when the market falls.
5. Not researching the project carefully before investing in it.
Fair enough, I respect your 5 views on the most common mistakes people do but I would also add to the list to try and think for themselves and not be just strict followers.
Actually, some newbies are really too hurried when they decide to enter the market. As I think, most beginners almost do not have a intimate preparation before participating on any fields of the whole market. First and foremost, the newbies are lack of knowledge, even they don’t understand much about how the market fluctuates. Besides, some are lazy of searching more details about a coin, or some is just attracted by scam.Generally, I advise all beginners should be more understandable about market in order that they can minimize the risks and get many benefits from market.
all actions that lead to doubt or fear should be excluded. and this can be done only on the basis of statistics, and therefore on the basis of experience
Making mistake is normal because you are newbie and the knowledge that you have is not enough, but you repeating mistake if you are few months or few years here in cryptocurrency is not normal and not acceptable.
That you for sharing your view with us as a trader and most of this five mistakes are things that newbies commonize. In trading you have to learn from your mistakes in other to increase in your intelligence and make more inform investments decision. I have seeing that learn from the mistake is one of the way the professional become successful in trading.
Great list, this is the thing that beginner should learn. This market is not easy, and if those newbies takes easy steps to earn money for sure they will lose it later on. Yes we learn from our mistakes but you should not depend on you, its better to prevent it than to suffer later on. Cryptomarket should take seriously because there is money involve and don't put too much risk on yourself without studying this market. People these days are always in a rush to learn, in a rush to want to start trading and then the little time more they could have used to learn, they end up losing their funds and getting frustrated. Trading is a profession and without learning you will definitely fail.
In my opinion, the biggest mistake for traders is to be impatient and impatient, these two factors will lead you to failure, so be patient to put on the top, and the second factor You have to know your coin security, absolute security. so safe for storage
One more thing is FOMO when the price bull run and panic sell when the price on the bottom. FOMO is natural emotion and all newbies did it and finally they loss money, but learn from the pass we can avoid FOMO and make better investment strategy.
FOMO is normal for someone who simply does not know much about how to really be trading the market and all they are always busy looking for is a moving train or a crashing plane.This is the reason so many new traders always end up losing a lot of money just because they could not get all the knowledge they need on their own to be able to do it right and anyone who skips that part will never get anything good from trading except for them to lose all their funds in the process.
One more thing is FOMO when the price bull run and panic sell when the price on the bottom. FOMO is natural emotion and all newbies did it and finally they loss money, but learn from the pass we can avoid FOMO and make better investment strategy.
FOMO is normal for someone who simply does not know much about how to really be trading the market and all they are always busy looking for is a moving train or a crashing plane.This is the reason so many new traders always end up losing a lot of money just because they could not get all the knowledge they need on their own to be able to do it right and anyone who skips that part will never get anything good from trading except for them to lose all their funds in the process.
That you for sharing your view with us as a trader and most of this five mistakes are things that newbies commonize. In trading you have to learn from your mistakes in other to increase in your intelligence and make more inform investments decision. I have seeing that learn from the mistake is one of the way the professional become successful in trading.
Great list, this is the thing that beginner should learn. This market is not easy, and if those newbies takes easy steps to earn money for sure they will lose it later on. Yes we learn from our mistakes but you should not depend on you, its better to prevent it than to suffer later on. Cryptomarket should take seriously because there is money involve and don't put too much risk on yourself without studying this market. Many beginners do not realize that it will be better to spend their time to learn much about the cryptocurrencies than to hurry up to invest in the wrong altcoins.
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