Topic: Mistakes newbie makes in trading resulting to losses - page 5. (Read 806 times)
Newbies do not know all the principle of investing and trading and as such they are always making loses in their investments. Stop loss is never in their trading plan and most time they over trade because of the desire to make it big.
Everything written here is true, why newbie fail in trading rather 95% of the traders close their account in loss, only 5% traders are successful. Trading needs a proper plan and to execute that plan you need to practice, practice and practice. Greed and fear are not biggest enemies of a trader, controlling both these factors means half way covered. A trading plan should be based on some analysis and based on that analysis, are of entry, exit and SL should be properly placed and adhered. A solid plan with proper execution (comes out of practice) can lead anyone to become a successful trader.
Oh my god these are soooo perfect. I know it looks like these are stuff we already know but as a person who has been around for so many years now I have met with new people constantly and almost all of the new traders that got into bitcoin all have done the same thing over and over again.
I have met with a dude who asked me how he could purchase bitcoin during the 20 thousand dollar time, like he believed since bitcoin went from being 900-3000 thousand range to 20 thousand dollars range it was a great time for him to buy some bitcoins. I told him not to do it because it is already super high and wouldn't make sense but he bought all the same.
Noobs all make the same mistake, its like they are coordinated on doing the same mistakes over and over again but in reality they are not aware of each other but do the same mistake individually without knowing each other. These things are super common in all new traders, superb post mate.
I have met with a dude who asked me how he could purchase bitcoin during the 20 thousand dollar time, like he believed since bitcoin went from being 900-3000 thousand range to 20 thousand dollars range it was a great time for him to buy some bitcoins. I told him not to do it because it is already super high and wouldn't make sense but he bought all the same.
Noobs all make the same mistake, its like they are coordinated on doing the same mistakes over and over again but in reality they are not aware of each other but do the same mistake individually without knowing each other. These things are super common in all new traders, superb post mate.
Before you start trading on crypto asset at any given time of the day , one of the first thing i recommended for both newbie and expert is to search for the latest crypto related news online or on TV shows and analyses economic data of the crypto asset you are interested in and also the host country economic data where the asset is base if the country is experiencing crises or not . this will give direction on how the market will be going through out the day , and also follow whales frequent twitting about a crypto asset who you are privilege to follow on twitter. before taking any critical financial decision . this will help alot to avoid losses .
News or signals nothing will help you in trading, price speculation is all is under your assumption if that gives success you will win if not you will lose the fund. Always try to join the exchange's telegram community to learn the continuous trading flow and price prediction things.
Last few weeks bitcoin and other cryptocurrencies volume has increased at a big level and I was waiting to see the bull run in coming days because of that. Launchpad investment double your funds in few hours once they listed on exchanges. Other than that we cannot guarantee at all.
Both beginners and experienced people will never succeed if they trade in panic when they see market movements and greed when they will profit, trade normally and not take too much risk is the key to success and do some research before going into the market.
That's right because we do not use greed to get big results by trading, we will never succeed in trading. the problem is to do good trading, don't ever get greedy and never take big risksWell big risks often offer big rewards and that can be too tempting especially for those who are inexperienced with handling their emotions. All these mistakes will be committed by newbies. It's how they'll learn from them that will determine if they'll be successful or not.
Both beginners and experienced people will never succeed if they trade in panic when they see market movements and greed when they will profit, trade normally and not take too much risk is the key to success and do some research before going into the market.
That's right because we do not use greed to get big results by trading, we will never succeed in trading. the problem is to do good trading, don't ever get greedy and never take big risksWell big risks often offer big rewards and that can be too tempting especially for those who are inexperienced with handling their emotions. All these mistakes will be committed by newbies. It's how they'll learn from them that will determine if they'll be successful or not.
Both beginners and experienced people will never succeed if they trade in panic when they see market movements and greed when they will profit, trade normally and not take too much risk is the key to success and do some research before going into the market.
That's right because we do not use greed to get big results by trading, we will never succeed in trading. the problem is to do good trading, don't ever get greedy and never take big risks
Before you start trading on crypto asset at any given time of the day , one of the first thing i recommended for both newbie and expert is to search for the latest crypto related news online or on TV shows and analyses economic data of the crypto asset you are interested in and also the host country economic data where the asset is base if the country is experiencing crises or not . this will give direction on how the market will be going through out the day , and also follow whales frequent twitting about a crypto asset who you are privilege to follow on twitter. before taking any critical financial decision . this will help alot to avoid losses .
First of all trading is not like any other job and it is not easy also we need to put some attention on ditto investment especially when trading we need to be more careful because if your mistake was made by us it will definitely lead to loss only.
If we decide to make trading our full time job then we must be sure that we have studied it and we must also be prepared on the consequences that may arise sooner. Per experience, though i am not a full time trader, trading is very stressful and takes a lot of time which lead to health deterioration if not manage properly. For some they acquire wealth through trading but there are also who loses much through it so it is our choice if we would make that our full time job. 4- the fear of missing of out is another major strategy whales use in manipulating prices thats attract newbies to buy at all time high.
That's the point I'm still working on after 4 years of trading and 2 years trading for living. I'm still to scared of missing opportunity for lambo than to lose money. Good think is that I'm aware of that and working on it constantly.
Everything you have written is correct imo and indeed newbies need to consider every point before they get themselves involved into trading.
Your points should not only be for newbies but for all experience level traders. I have even seen experienced traders sometimes slips even they all the points you have mentioned.
Your points should not only be for newbies but for all experience level traders. I have even seen experienced traders sometimes slips even they all the points you have mentioned.
Actually, newbies don't know much about the price movement of various coins, so they don't know when to buy. Timing is very important in crypto-trading. If you can buy assets in right time then you can make good profits.
So how about the old members? They even don't know when to buy just they are doing it based on their prediction with the hope of they are doing right.Trading like gambling is the mistake done by the newbies which causes them to loss huge without knowing much about the trading initially.
Actually, newbies don't know much about the price movement of various coins, so they don't know when to buy. Timing is very important in crypto-trading. If you can buy assets in right time then you can make good profits.
That's right, and they don't buy when prices go down, and they start buying when the line starts moving up. Then they are still waiting for the next high price, but suddenly, the price returns to a lower price. Not only beginners who make mistakes but I think other traders also make mistakes too.
Trading is not as simple as we think and without learning to trade, we cannot make good profits. All traders must start learning, and the learning process does not stop when we can make profits, but the process will always continue because the market will continue to change.
One more thing that we must always remember is not to panic when the market is down because once you panic, you cannot think of ways to deal with the situation and you will lose the opportunity to buy a good price.
Actually, newbies don't know much about the price movement of various coins, so they don't know when to buy. Timing is very important in crypto-trading. If you can buy assets in right time then you can make good profits.
I agree with many points here, usually what I have had in the past was overreacting or sometimes I just made a wrong decision, cause candles didn't change.
another mistake was robot trading, wish nobody would be that naive as I was
another mistake was robot trading, wish nobody would be that naive as I was
Trading is easy, finding a strategy is easy. The hardest part in trading is to accept losses early. if a trade doesnt work - stop it. take your losses and go on. but the most think: "yup... i will wait a bit longer, the turning point will come and i make money with this trade. sometimes it happens, you accept a 10x loss and go out of this trade with a 0.1x profit. the day will come and the 10x loss turns into a loss of your money.
Accepting losses is one of the most important things in trading business. the next important is accept wins - dont be to greedy
Accepting losses is one of the most important things in trading business. the next important is accept wins - dont be to greedy
Agreed with all the points, beginner trader usually panic when the price suddenly crash and they make an action without thinking twice because of the panic. It's all about experience, beginner/newbie trader takes time to learn about it and i'm sure they will learn from their mistake.
Mistake happens to all trader no matter they are beginners, intermediate or even pro.
Regarding to panic, probably the pro who can manage this situation. Most beginners and intermediate trader will be still affected by their emotion once there is a price drop.
Yeah, learning from the mistakes is a must to make a better decision in the next trading activities. Overall, this is about money management and emotion management.
Trading is not a quick get rich scheme. But having quality knowledge about price movement of crypto asset is essential before taking crypto trading as a full time job.
There are several mistake newbies often make during the course of trading which are listed below:
1- Buying of a crypto asset that is already high without stop loss and selling low because of uncertainty of indecision candle in chart.
2- over reacting to sudden change of prices which leads to Panic selling.
3- Trading without any strategy in mind before placing an order.
4- the fear of missing of out is another major strategy whales use in manipulating prices thats attract newbies to buy at all time high.
5- Trading with 100% of the portfolio in only a single trade instead of spreading hard earn money in different trade.
6-not taking proper rest and allow the brain to relax in taking proper decision in entry or existing orders.
These are mistake that newbie make that result to loss of their hard earn money in crypto exchange trading.
Hence to avoid all these mistakes you need to to learn different trading strategy and different chart pattern and historical data analysis of crypto asset.
We have seniors in the forum , their contribution will be vital and help everyone to avoid mistakes ,these are just my experience and observation.
Have a cool crypto trading .
everyone making mistake the experiences and most talented traders are also been mistaken in sometimes because it is nature we cannot do anything against it but the new we should definitely need to take it as a lesson for not doing the same mistake again in your life when you are trading so if you learn this you will be ready to trade. There are several mistake newbies often make during the course of trading which are listed below:
1- Buying of a crypto asset that is already high without stop loss and selling low because of uncertainty of indecision candle in chart.
2- over reacting to sudden change of prices which leads to Panic selling.
3- Trading without any strategy in mind before placing an order.
4- the fear of missing of out is another major strategy whales use in manipulating prices thats attract newbies to buy at all time high.
5- Trading with 100% of the portfolio in only a single trade instead of spreading hard earn money in different trade.
6-not taking proper rest and allow the brain to relax in taking proper decision in entry or existing orders.
These are mistake that newbie make that result to loss of their hard earn money in crypto exchange trading.
Hence to avoid all these mistakes you need to to learn different trading strategy and different chart pattern and historical data analysis of crypto asset.
We have seniors in the forum , their contribution will be vital and help everyone to avoid mistakes ,these are just my experience and observation.
Have a cool crypto trading .
Agreed with all the points, beginner trader usually panic when the price suddenly crash and they make an action without thinking twice because of the panic. It's all about experience, beginner/newbie trader takes time to learn about it and i'm sure they will learn from their mistake.
First of all trading is not like any other job and it is not easy also we need to put some attention on ditto investment especially when trading we need to be more careful because if your mistake was made by us it will definitely lead to loss only.
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