Topic: one mistake that crypto beginners should be aware of ? - page 3. (Read 761 times)

And it is because of this that the first step for a newbie which is interested on becoming part of this market is to reign on their enthusiasm and begin to read more about this market and all the pitfalls in which they may fall, this way once they finally begin to use their money to invest or to trade they will have a better idea of the things which may make them to lose money and take the necessary steps to avoid them if they happen to encounter them.

One of the worst thing a crypto trader will do is trading on a wrong exhange, when you start using the exchange things might be going well but with time you might start having problem with either withdrawal or deposit on the exchange. Most of those exchanges are always have bonuses which always attract people to use it, because I see no reason why you have to be using exchange with low reputation when there are lot's of exchanges with good reputation were you can easily trade and have peace of mind, we shouldn't be deceived by all those exchanges without reputation just because of the bonus they are offering.

Those who are like that are people who want to profit without doing business. Maybe it's the same as people who think that investing or trading in crypto is a get-rich-quick road. lol
Indeed, we should have our own skills regarding this space, only relying on that signal is tantamount to burying dadari's potential within ourselves. Indeed learning will take a long time, but if we are serious then it will pay off with the effort we put in. But what I see now is that most people easily give up with one failure, that's what keeps them from growing and moving forward. They buried their own dreams.

It would be too much of a risk-taker that a beginner put all his faith in a trading signal but yep it's not like it didn't happen before.

One mistake that I can think of which I have also tried and regret back in the day was trading an altcoin where I should be on BTC/USDT.
Some beginners begin to like one altcoin thinking it will become like BTC so they keep trading on such a pair.

It's not bad to use other signals, but we still have to analyze it before using it so that we don't experience errors. That is why we are always required to learn more from trading to adjust to market conditions or conditions. If we can adapt to the market, we definitely won't have any problems because, with our skills, we can find a solution even if the market reverses. And indeed we must control our emotions when trading to stay focused on finding opportunities to make profits. And acquiring such abilities requires a lot of practice and learning other subjects.

Everything is going to go through beginners' stage. That's the best way to learn, but having a mentor is better. If not, then you will have to go through it. I want to expand on what you have already said, OP.

• Imagine joining exchanges just because it has gotten popular in a short while and may be too good to be true
• Only goes with the crowd and follows what they see online without research.
• Keeps everything easily accessible to anyone

.

Those things are quickly learned if the person exerts effort towards it, and if non, then you know what will happen. That someone will not be involved anymore with the crypto space because of a "bad experience."

For me, even though it was still a beginner's mistake, I just knew that trading would not be for me at all. I watched videos just like yours on how to day trade in Binance. I encountered huge losses, bought wrong coins although I didn't buy meme coins unlike yours. I just realized that time that trading is not really for me at all.

I just reverted back into long-term hodling and it was the best decision ever in my life. I just wish I could have put those lost time into programming instead just like I mentioned before.

This will refer to those who wants to do trading, but if you don't want to just choose the best wallet where you can have a control and the keys then you can be good. Exchanges are there for you to buy and sell only, holding should be a different story. Beginners should always choose the best platform available on their country because if they will just choose a small exchange with no good reviews, then it can be a big mistake for them. This can be avoided only if they start doing their own research. 

Its not bad to make use of other signals or trying to peek on their analysis but of course in wont really be that ideal that you would be relying from it.As a beginner then it would really just that right
that you should really be that going and focusing with the basics.You wouldnt really be able to learn up things quickly or in one day and this would really be taking a long time before you could be
able to do such thing. Be wary with your emotions which is something that would really be distracting you and would boggle up your mind along the way.
Market is volatile and unpredictable and thats why its really just that right that you should really be wary in regarding with your actions.

Crypto is filled with scammers so do not trust anyone no matter how legit they look. Crypto was created so that you do not have to trust someone else, it's decentralized for a purpose, so if anyone asks you for your money, for any reason at all, no matter what they say, either do not give the money if you are smart enough, but even if you do then consider that money as fully gone and not coming back.

This isn't just straight up giving it to a person, consider brand new investments like that as well, if you are not buying bitcoin on good exchange and holding it, all other moves are risks and you should be careful about it and many people lost billions because they weren't careful.

That's why it is better to learn to trade than to follow other people's signals because we don't know how valid those signals are. By doing research, we learn to analyze our abilities and by learning that, the skills we have will increase and that is very useful for following market movements that are still uncertain. I'm sure we can certainly learn well but that depends on our own desires, do we want to develop our abilities so we don't need signals from other people or will we still use signals from other people but we might find it difficult to get the profit.

We can't expect a novice to have all the essential experience with bitcoin/cryptocurrency because they are still beginners, which is one of the reasons they are called beginners.

Especially when it comes to trading bitcoins, several newcomers enter the Bitcoin market without having any prior trading experience. Even though a novice must occasionally fail or lose, they still require enough understanding to trade.

A professional trader will never always rely on others or trade by other's signals, it is not only professional traders who have learned to do new analysis, but if they want to work with signals, they will analyze the signals and then trade.
I never advocate new or old trading with signals all the time. But in the initial stage those who are trading who work with signals, I would say that they should analyze that signal and then enter the field.

lazy to think as a result of following the signal to be the main factor of failure in the future. we can't always follow other people's signals, then what will happen later if we don't follow other people's signals, we won't understand anything about analysis. for me learning to trade is a long-term asset, until later when I retire I'm already proficient at trading and can make money from trading, so it's not a fast way to earn money, therefore you have to really know yourself for trading

It's hard to be a beginner, but that's what people came from. Those experts now came as beginner back a few years ago.
They experienced failing with their investments. They've experienced getting scammed. They've experienced investing into wrong coins etc. etc. I can say that because I also experienced that thing back when I was a newbie (though I'm not an expert).

As a beginner, one mistake to be aware of isn't enough because you need to experience failure in order for you to become a successful investor. I can't say one mistake only because there are lots of mistake that beginners should be aware of. Investing into low market-cap coins, getting attracted by huge returns, picking a wrong exchange, following the wrong person, investing without proper knowledge, and so on, and so forth. I mean there are many mistakes that beginners should be aware of, but a beginner must experience most if not all of these so that, he knows what to do in the future.

When I was a beginner, I'm a bit lucky that I didn't experience getting scammed (because I watched videos before I invested, and I know which are scams and which are not), but I experienced having huge losses in trading, investing into wrong coins, investing into meme coins (which I shouldn't did), following different influences and investing into the coins that they're saying. There's a lot of mistakes that I've did in the past, but I learned from all of that. Though I can't say still that I'm a successful investor right now, but at least I know which are the things that I should avoid now.

This is common many newbie loss in trading because of thier mistake it is normal they are still in a stage of learning all i can see is that they need to use small amount to avoid anger and disappointment when they loss maybe not all beginner loss but most of them because they still didn't have any experience yet.

I will say that when it comes to signals they will never work, for the lazy, signals may seem like the perfect way to make money while at the same time they do not make the effort necessary to learn how to trade, but if you really begin to think about it you will realize that it does not make sense for those that give signals to share them, because if you had a away to profit from the markets with your signals you will not share them as you could directly make money with them.

Those who follow and rely on others' signals are those who are lazy to do their own research and study things about trading. We can actually do trading by ourselves but we need eagerness and willingness to learn and adopt kowledge to do it successfully. Relying on others, especially people's predictions and signals will not always work. We must instead learn the basic fundamentals of trading as well as do our analysis of the market.

If they followed someone without learning what to buy and sell, they would have a hard time getting rich or making a profit. They must realize this because otherwise, they will never achieve their target. And when they don't reach their target, they get frustrated and say it's not for me when it's their own fault for not learning. They need to change themselves to realize that what they have done so far was wrong and try to learn from their mistakes so that they will not experience or repeat the same mistakes.

Just telling you the price positions where you should buy and sell without any detailed knowledge is just foolishness. Sometimes you are just used as bait to buy early.
Quite often I find people like that, just giving buy and sell numbers but not explaining technically and fundamentally why it can happen according to the numbers given.

People who do this just want to get more followers. Just look at the link they provide, it must contain referrals and if you register through the link, then they will get a few percent of the profits from the trading platform used.

Just looking at one's profits, beginners will be attracted to enter. Even though they don't know how much the initial loss is.
Using quite a lot of money to trade should have good management and enough knowledge to trade.

If you just follow someone's guidance, even a lot of money will run out.
Don't trade like a blind person, without knowing any basic knowledge, so that everything will be in vain,
wanting to grow profits but in the end giving a lot of losses.