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Topic: Mistakes newbie makes in trading resulting to losses (Read 805 times)

legendary
Activity: 3192
Merit: 1213
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It's okay can't avoid mistakes in trading especially newbies start learning how to trade, mistakes is the right guide to correct the mistake by using analysis the fault decision of the trader.
A costly mistakes can teach you a great lesson because from that failure, you will start to do better. Until now, I'm still having losses in trading not because I'm carelessly doing that but it's really normal. We cannot avoid mistakes but we have to lessen it because if you always that, then you have no way for you to make a decent profit.
With cryptocurrency even the experts fail to predict the market, by this time newbies making mistakes is really a simple think. This won't be realized by most of the newbies, because they come forward with the entire focus of profiting and when things happen in the opposite way it looks unacceptable for them, who takes it as a learning succeeds in a short or in the long run.
sr. member
Activity: 798
Merit: 268
It's okay can't avoid mistakes in trading especially newbies start learning how to trade, mistakes is the right guide to correct the mistake by using analysis the fault decision of the trader.
A costly mistakes can teach you a great lesson because from that failure, you will start to do better. Until now, I'm still having losses in trading not because I'm carelessly doing that but it's really normal. We cannot avoid mistakes but we have to lessen it because if you always that, then you have no way for you to make a decent profit.
full member
Activity: 952
Merit: 104
It's okay can't avoid mistakes in trading especially newbies start learning how to trade, mistakes is the right guide to correct the mistake by using analysis the fault decision of the trader.
sr. member
Activity: 1330
Merit: 291
You made a good point here that not only newbie will learn from it but also people what think they known everything all about trading crypto currency.
What one need to do then is more particularly about the coins you want to buy and above all follow your trading strategy and Money management policy.
full member
Activity: 602
Merit: 129
Sudden changes are frequent in crypto currency most newbies don't know this and this situation can hinder newbies plan. Well newbies don't have some vast knowledge since they are called newbies only basics are know to them. As far as I know almost all my trades depends on my coin choice but mostly it messes up by the changes of the markets price so it is unavoidable for me and so as the newbies
hero member
Activity: 1064
Merit: 500
I just hope this came base on your own experience because it all happened to me.

I got up from my mistakes and never let it happen again, although there are still moments where you cannot prevent it.
Recently, I made a profit for like $300 but I am just worried of whoever bought it.
The price of that token when I sold it is like $0.2 and now at $0.01

That is a lot of loss but that is trading I guess, there are users who lose now and maybe a lesson will be learned afterwards.

A smart person will always try to avoid making mistakes. He will study the mistakes done by the other guys, and only after that, he will start his activities. In this case, even a newbie can get a profit soon.
hero member
Activity: 2590
Merit: 549
Rollbit
I just hope this came base on your own experience because it all happened to me.

I guesse everyone will inevitably experience most of the lists in the OP. Specially if a person is learning the ropes in trading, since they will of course engage in real trading platform.



I got up from my mistakes and never let it happen again, although there are still moments where you cannot prevent it.


And this is how you correct everything.
Also, the one thing you cant prevent from doing sometimes is FOMOing right? Lol 😁
legendary
Activity: 1204
Merit: 1028
Before entering the market you need to prepare yourself psychologically.In fact, I would say that the loss of the first deposit is very useful.Sift out the weak and make it clear their mistakes strong. In this area, money is the best teacher.
This is vital but only applicable to newbies because I don’t think anyone who already is a professional needs to be thought on how to always prepare for trading psychologically, majority of crypto trader must have in the past engage themselves in forex trading which I expected them to have learn all necessary trading etiquette before joining the crypto currency.

Although, crypto market is far more volatile than forex trading and many traders who are not new to trading uses this volatility  as an excuse for their failure. Experience is just the mother of success, every trader must carefully gain enough experience especially trough demo practice before going into live trading.
sr. member
Activity: 1071
Merit: 253
I myself am still new to trading and I have made some of these mistakes more than once. But now I'm smarter and I realize how important it is to have a strategy and follow the rules.
Good to you mate and you may learn it now. It is better to experience losses so we know what where we are wrong and to find the best solution for it won't happen again. It is not newbie have facing losses but also for the old ones. There is no need to be afraid of losses but this is away to build us stronger and wiser.
Learning from your beginning you can get experience, like you can only save from being mistaken such as be wise buy when the price is low and then after holding you will have to hold with patience until price rises, don’t trade when the price is low. So according to me trading with lack of knowledge is mistake and panic selling is also a mistake.
legendary
Activity: 1372
Merit: 1008
I myself am still new to trading and I have made some of these mistakes more than once. But now I'm smarter and I realize how important it is to have a strategy and follow the rules.
Good to you mate and you may learn it now. It is better to experience losses so we know what where we are wrong and to find the best solution for it won't happen again. It is not newbie have facing losses but also for the old ones. There is no need to be afraid of losses but this is away to build us stronger and wiser.
All traders have suffered losses after all, and all traders have experienced mistake, but that does not make them desperate, it is precisely what is used to make you more intelligent in trading, there is no better knowledge from experience. I also often suffer losses, how greedy I am, buying at untrusted coins and many mistake, it provides valuable lessons you know
hero member
Activity: 2912
Merit: 642
I just hope this came base on your own experience because it all happened to me.

I got up from my mistakes and never let it happen again, although there are still moments where you cannot prevent it.
Recently, I made a profit for like $300 but I am just worried of whoever bought it.
The price of that token when I sold it is like $0.2 and now at $0.01

That is a lot of loss but that is trading I guess, there are users who lose now and maybe a lesson will be learned afterwards.
full member
Activity: 1316
Merit: 126
I myself am still new to trading and I have made some of these mistakes more than once. But now I'm smarter and I realize how important it is to have a strategy and follow the rules.
Good to you mate and you may learn it now. It is better to experience losses so we know what where we are wrong and to find the best solution for it won't happen again. It is not newbie have facing losses but also for the old ones. There is no need to be afraid of losses but this is away to build us stronger and wiser.
newbie
Activity: 2
Merit: 0
The scheme is useful indeed, but i think it is also highly important to make sure the platform keeps your data safe. There has to be some additional security features, 2FA or else
member
Activity: 632
Merit: 60
I myself am still new to trading and I have made some of these mistakes more than once. But now I'm smarter and I realize how important it is to have a strategy and follow the rules.
sr. member
Activity: 1792
Merit: 264
In simple terms, in my opinion, if we want to succeed in trading, how do we make decisions, whether it's the decision to choose coins and also the decision to buy and sell, we can get them if we can control ourselves or not be easily panicked
Panic is an emotional problem that is difficult to control. Beginner traders have a great opportunity to panic and get caught up in trading emotions. yes..this can be trained by continually trying to trade and be patient. this is the hardest part for traders

This is why many people just recommend to hold and not look at prices everyday.  Every investment will go up and down and bitcoin is the extreme version of that.  Most people can't handle their emotions when dealing with these types of crazy price movements.
Thats for holder / long term investors must do. For a trader, of course looking at the market and chart at any time is important to find for opportunities. if you are a trader, then you must be strong against difficult conditions. Don't be weak just because the price falls then you panic, it's not the nature of a true trader.
therefore we must have a mentality to start trading in this field. before starting the trade we must be able to know the risks that will be faced. for example, recent bitcoin price movements tend to decline more often, with this situation we must be able to calmly face the downward trend in sustainable market prices so that there is no panic and can easily throw away our investment assets without thinking about future growth
jr. member
Activity: 434
Merit: 4
All these rules are undoubtedly tutorials for beginners, but even following them the chances that a beginner will lose everything just because of his inexperience. In trading, it is very important to learn how to cope with your emotions and then all the rules will be able to be fulfilled. Again plays a huge role, and even better for a start it is necessary to lose everything and start anew, then you will think absolutely differently.
member
Activity: 546
Merit: 32
A little mistake will leads to a huge loss so the newbie should definitely need to understand the situation with less investment then only the huge investment will be probably not been any confusion and the trading is also not been difficult for you.
hero member
Activity: 798
Merit: 1000
Before entering the market you need to prepare yourself psychologically.In fact, I would say that the loss of the first deposit is very useful.Sift out the weak and make it clear their mistakes strong. In this area, money is the best teacher.
hero member
Activity: 2772
Merit: 518
★Bitvest.io★ Play Plinko or Invest!
The most common mistake that people getting into forex trading make is that they get into forex trading.

The next most common mistake is that they subscribe or follow websites and individuals who claim to help them (see some of the door-to-door salesmen answers to this question).

The next most common mistake that new forex traders make is that they are not to blame when they lose, they convince themselves that the markets are rigged and they (the mysterious association of the faceless they) are to blame for the money the new trader lost.
Is not only for forex trading but also with the other trading sites.
It actually we can't just put a blame with noobs cause they have that huge knowledge in trading but also for the old one's. Very often that they'll be losing as they are in the adjustment and learning process but it takes also the consideration that they could be successful in the future.
hero member
Activity: 1358
Merit: 509
The main mistakes of novice traders is the pursuit of profit, and most importantly in this case, the movement of assets and clear certain goals in numbers
That's not just mistake for a novice trader. It's a mistake to all, it applies to all and also me. I've been trading for almost 2 years now, I'm just following the trend. It sucks losing trades of course, but chasing profit is not the key for you to win those trades you lost. It could get worse.
at least the mistakes you have made can be very important lessons for you so that now you have had a lot of experience and can make you rich and successful when trading.
First of all, let's close the issue that crypto will make us rich. Because the only difference of crypto is that it has a volatile price, and the price will not always move upward. Also, mistakes are the best way to learn the truth, it is not made by newbies, but also by older ones. Just try to learn all the time from your mistakes.
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