Beginner mistakes and how to avoid them

Russlenat

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Quote from: yhiaali3 on April 25, 2023, 12:59:55 AM

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.

LUCKMCFLY

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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.

Lanatsa

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Quote from: beerlover on May 04, 2023, 11:14:31 AM

Quote from: omgitsmehehe on May 03, 2023, 08:03:13 AM

Quote from: crwth on May 02, 2023, 01:37:31 AM

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.

beerlover

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Quote from: omgitsmehehe on May 03, 2023, 08:03:13 AM

Quote from: crwth on May 02, 2023, 01:37:31 AM

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.

Sebas.tian

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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.

Natalim

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Quote from: crwth on May 02, 2023, 01:37:31 AM

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.

Quote

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.

Twentyonepaylots

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Quote from: kapalmabur on May 03, 2023, 05:30:49 AM

Quote from: crwth on May 02, 2023, 01:37:31 AM

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.

Baoo

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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.

Oilacris

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Quote from: omgitsmehehe on May 03, 2023, 08:03:13 AM

Quote from: crwth on May 02, 2023, 01:37:31 AM

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.

omgitsmehehe

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Quote from: crwth on May 02, 2023, 01:37:31 AM

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.

kapalmabur

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Quote from: crwth on May 02, 2023, 01:37:31 AM

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.

CarnagexD

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Quote from: Kara3 on April 24, 2023, 05:32:31 PM

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.

devil2man

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Beginner traders can make several mistakes while trading. Some common mistakes include not researching the markets properly, trading without a plan, over-reliance on software, failing to cut losses, and overexposing a position. Another common mistake is starting to trade without creating a trading plan. It is also important to keep a personal track record of trading mistakes to learn from them. Beginner traders should do their homework before investing in any altcoin. It is essential to avoid these common trading mistakes to become a successful trader.

crwth

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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.

Josefjix

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yes

Quote from: Kara3 on April 24, 2023, 05:32:31 PM

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?

Risk management is always first in any deal that is going to be completed, knowing the potential earnings as well as the amounts at stake if the trade goes against you. The previously mentioned counsel are totally right, understanding how to set boundaries for the number of trades to take per day regardless of how excellent the market is. Lack of trading structure will also cause newbies to lose a lot of money and will be unable to recover in the same trading position. If a market does not give good trading structure or entry, quit it because you may not be able to withstand what happens after you place your trade. Creating or implementing a trading strategy, sticking to it, and practicing until perfect and confident with it. Failing to use stop losses all because of greed, one of the crucial factor to watch out for when placing trade as a beginner.

justdimin

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Quote from: tygeade on May 01, 2023, 06:24:41 AM

I feel like most beginners will learn from their mistakes by doing them, that is going to be the case for most of them, not going to be amazing or anything to do so, but it is going to be the reality and there is really nothing to do about it. If they make a mistake and learn from it, they will become better, if they learn nothing from the mistake then they are not going to be great at it and that is going to be a trouble.

Think of it like it is a boring approach, like if you could end up with learning by making a mistake, that is a terrible thing because you lost, but next time you will be better and make a profit thanks to that loss. This is why reading these will not be that easy to solve beginner issues, they have to do them personally and learn from them over time as well.

I understand that it is not going to be easy to handle your mistakes at first, but if they just make mistakes and try to learn from them, they will lack the education needed. Let's assume you made a mistake, how would you know if it is a mistake or not or how would you know what the mistake was, without actually knowing crypto trading? That means beginners needs to make those mistakes after they studied, so that they could check the mistake and remember from their education what the mistake is, otherwise it doesn't make any sense at all.

I know that plenty of people will be shocked about this but the reality is simple; you learn first then you make a mistake then you learn from the mistake and then you become better at it. That's how it works.

|MINER|

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Quote from: freedomgo on May 01, 2023, 03:33:29 PM

Everything goes with it, your time, money, focus, energy. Everything needs to be done and well calculated because we aren't just talking and trading with cents, yes there may be some mistakes along the road but that's somehow normal and manageable especially if you're just a novice in this field. Just focus until you understand the fundamentals until you know what you need to do next and have a better understanding with it because you already acquired some lessons on the past mistakes.

I also agreed with yours opinion and I think when a person get into trading they will must be face losses by doing those mistakes and wrong decision. It is not that everything will end or that everything is over because of making mistakes. They have always chances to gain by learning from those mistakes and applied new strategies on trading . And it will be wise if any beginner alert before investing I think most of the beginner most mistakes in trading is they can't control their emotions they also should care of their emotions before jumping on trading.

jossiel

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Quote from: ?? on ??

In fact, the process of these errors is simply inevitable. A beginner must always make mistakes in order to gain experience in the future. As a result, it will show its result.

There's no doubt that every beginner will have to experience these mistakes and no one can avoid them until they've faced it again maybe for the 2nd or 3rd time or so.

The result will be depending on how the beginner will learn from those experiences and mistakes and how they'll adjust to become better from it. If so, that's where their journey actually starts.

When everyone has learned from all of those mistakes and applies it on trading and then the results are good and comparable in their past trades.

milewilda

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Quote from: Kara3 on April 24, 2023, 05:32:31 PM

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?

*Emotional impulsive
*Rushing up on getting rich
*Trading disicpline
*Risks management

If you do lack also of these things then you would likely be able to experience up those common mistakes on which newbies do able to commit out. Yes, its not really that easy on avoiding up these things in the first place but with proper engagement or approach and applying out these basic principle then you would really be able to find yourself that it would really be that relevant in speaking about avoiding errors or mistakes.
Somewhat it cant really be obtained unless if you do have that experience because we know that knowledge couldnt really be gained without actual experiencing it for yourself.
This is why theory studies wont really be that sufficient without actual engagement.

LUCKMCFLY

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Quote from: freedomgo on May 01, 2023, 03:33:29 PM

Quote from: Aanuoluwatofunmi on April 29, 2023, 10:05:28 AM

Quote from: ?? on ??

A beginner is a rather difficult period for every trader. At least when I started working - I also learned enough about it. For work, I chose a broker from the Amarkets company, and studied on a demo account. Was pleased with the results.

Being a beginner in trading requires alot to put in place before you can be able to stand strong with the trading techniques and other required process that goes in line with experience, not everyone like taking a broker for an option being a beginner, they had better give it all it takes to quickly assimilate their learning procedures more faster trying it out by themselves together with obtaining learning materials from different sources.

Everything goes with it, your time, money, focus, energy. Everything needs to be done and well calculated because we aren't just talking and trading with cents, yes there may be some mistakes along the road but that's somehow normal and manageable especially if you're just a novice in this field. Just focus until you understand the fundamentals until you know what you need to do next and have a better understanding with it because you already acquired some lessons on the past mistakes.

I agree with what you say, energy, time, patience and the amount of time you have to learn, the more you read books, take courses and increase knowledge is what can help a novice, and not just To a newbie we as traders must always be constantly growing in order to be better at trading, every day you learn something new, you have more knowledge to try to understand a market than when you enter without knowing anything it is like entering a jungle.

Topic: Beginner mistakes and how to avoid them (Read 525 times)