Topic: one mistake that crypto beginners should be aware of ? - page 4. (Read 775 times)

It's no problem to think of ROIs but when you're too much focused on it than learning as a beginner. The motivation will be different and difficult for you to extract.

And attached to it the thought that this market is an easy market where you can make money so fast. But not knowing that you're prone to many mistakes and those mistakes will frustrate you.

When it comes to that situation, you'll either stop because you're discouraged that your expectations weren't met. Learn from your mistake and from the others too.

well, it is a starter. then with it all, they will learn how important it is. I don't think any rookie will notice that in such a short time. even when they learn though, there will still be things they have to learn from mistakes, even people who have been trading for a long time.
However, the most important thing is not to give up easily, and keep learning from failure. In addition, what needs to be considered is that a beginner needs to use as little money as possible in trading, and needs to choose a trusted exchange, and a popular coin or token. many beginners start their first trade in the wrong place, and because they see a lot of profit from someone, sometimes they dare to take risks by choosing the wrong coin, and use quite a lot of money to trade.

Unfortunately there are tens of thousands of people out there who think that they can follow someone, and learn what to buy and what to sell and be rich thanks to that. I do not know how we can stop that and all, but I am sure that we are going to not have zero of those people, it is going to keep happening.

In order to get rid of that, we need to expose these signal channels but there are so many of them that even when one is exposed, people say "this is not like that" for other ones and still trust it. I guess there is a thing in some peoples minds where they are more inclined to get scammed, no idea what it is, but that's what they believe in, and that's a trouble.

When you are really thinking about fast ROI then it would really just distract you on going with the right path on which its never advisable on having this kind of intent but its normal when you are just a newbie but
of course when real experience kicks in then you would really be making that realization which is something that you would really be that aware. Mistakes and errors are the best teachers and there's no way you could
be able to learn up things from other people but rather it would be on your real experience. Its normal that greed would really come out but once you do able to gain that sufficient experience
then it would really be giving out that kind of idea on what are the things that you should gonna do along the way.

Not only these but there are also so many other mistakes which a new traders do and they do these mistakes due to insufficient knowledge and expertise. They also don't follow any strategy and they have no personal strategy which can help then in getting profit. Crypto beginners should having a plan and working according to this plan will be make them able to get huge cashback. Crypto beginners become afraid of losing money whenever they see unfavourable conditions therefore they make wrong decision during bear market. So its important to first fully understand that what to do and what will happen after your action.

Thinking also of ROIs will make them think about such quick phasing in trading which I don't recommend to happen.

You need to take it one step at a time and the journey won't be that easy if we are going to think of it. About cyber security concerns, we don't need to be expert on it but by simply adding 2FA to our exchange and wallet accounts are good features to begin with.

Right, nothing is instant. It's best if the people who expect from the signal know this and start learning more about trading so they don't get their hopes up from other people's signals. I have several times met people who asked what coins they could buy to ordinary friends who could analyze the market. But these friends do not provide a more detailed explanation; they only provide a price position to buy and when to take advantage of it.

Again, if they keep doing that, they will find it difficult to take advantage of it or determine when they can enter the market. It is better to learn about trading because it will surely be useful for them, especially if they want to make trading a source of income.

This happens a lot to beginners. Don't easily believe in anyone, Don't believe what experts say, Don't easily believe what influencers say either. we should reset ourselves. don't just buy coins or tokens because of reviews on Instagram on YouTube or other social media. So our investment decision in a crypto asset is the result of our own research based on our own beliefs, not what person A said, what person B said or what person C said.

And then you still have to use cold money, you are required to make any investment, what this means is that we don't use the money for a long time and we are ready to lose 100% of that money, if you are not ready to lose money, that means it is not cold money. because investing in crypto is a very high risk investment. so don't use kitchen money. Wife's money, money used to pay school fees, college fees, people's money, especially loan money, crypto investment mistakes.

This is the most fatal, always having to choose a platform carefully, because some time ago there was an incident related to the exchange platform. there are exchanges that take away consumer money there are those that get hacked like mt. Gox or coincheck. Make sure our exchange is an exchange that has good liquidity and keeps coins in a safe place even though we really can't predict what will happen in the future.

Even the biggest exchange in the world like mt.gox can collapse But it would be better for us to divide our portfolio across several exchanges. Because there is an exchange one day, there must be something called maintenance, maybe there is a problem with the server, maybe even hacked, so that we don't lose 100% of our assets or lose the momentum of selling or buying just because we put 100% of our assets on one exchange, we still have to remember dont put your egg in one basket.

Following others without learning what they are doing will only mislead. some of the signals that are followed are not even guaranteed to be successful and as predicted. lazy people will never grow, learning how to do analysis is very necessary, even if only learning basic knowledge.

Nothing can be done instantly, trading requires good analysis requires a strategy.
Beginners are thirsty to do all that, in order to understand what to do without depending on other people.

Newbies that do get easily hooked up by big profits or numbers that came from other traders or investors are the main things which do really make them dive in without having that proper preparation on learning up things which is something a very common mistake for most people or newbies do able to commit on.This is why on the time that they would really be experiencing unfortunate events or conditions then this is where
they would really be trying to make out adjustments basing up on what they had encountered and this is where they would really be that realizing that dealing with trading or crypto
investment is never been that simple.

It is rather a very personal choice on how you want to trade. I myself do my tradings alone. This helps me to pinpoint my mistakes so that I can avoid them later on. I do follow other people's strategy, but only for learning purpose. I will never trade based on their analysis or signals. I will do my own analysis and match that to theirs.
That way I can be sure that I am on the right track.
And trading in groups can lead to having different opinion and results. It is more likely people will blame others and won't be able to find out their own mistakes.
But as I said. It's totally personal matter. I choose solo. You can choose whatever you wish. And group trade is also a good source of knowledge. Because sharing makes your knowledge grow.

When don't need to wait before we make mistake before we become too careful on how we position our trades. There are many traders that had made a lot of mistake and we need to be very careful so that we are not going to make the same mistake over and over again. Trading is all about working with experience traders, reading and becoming a better trades so that we are going to be a pro trader just like every other good traders in the market.

The market is full of experience and profitable traders that are cashing out well from the market. We should also try as much not to trade in isolation. Trading in groups and with other traders tok can increase and enlighten us on different patterns we can trade the cryptocurrency market. 

Its function is to study trading before entering the market so that we already understand what needs to be prepared beforehand. This is very important to realize because many people already make mistakes in trading and we must be able to avoid them to reduce the risk.

Sometimes, people are lazy to find more information about trading and only rely on signals from other people where the signals are not always correct. This is a mistake because we do not know where that person can get positions in and out of the market while we just follow them.

This has to be the biggest oe among the biggest mistakes newbies make when they want start investing in the market but I don't think that's a mistake when trading. When trading, we're looking to make profits and there are more profits trading altcoins than Bitcoin. Bitcoin is more of an investment project than trading as you make more money holding.

Altcoins aren't guarantee future investment so trading them would be the best approach and when you understand the altcoins market, you'll make huge profits from  just trading them. Although newbies that wants to do this has to be careful of scams and shitcoins because trading those would only get you scammed.

To learn a lot, you need a good understanding. Not just knowing how to sell and buy.
There will be many factors that influence everyone to trade well and not believe anyone who recommends crypto platforms without doing research first.

Beginners usually do without thinking first, so they are easy to bait on some fake crypto platforms. Want to make a profit but in the end suffer a loss.

Therefore, for a beginner or for those who are professionals, research is very important before moving on to the next stage.

People learn from their mistakes. But the question are you really learning from them or are you keep making the same mistakes over and over.
You can not learn from anything if you don't try it first. That's the reason everyone will suggest that start small and work your way towards the big thing.
Also as a beginner, it's very important to prioritize research and planning to ensure that you're making the right decisions. Choosing the right crypto exchange platform is also important because there are various options available, and selecting the wrong one can lead to additional issues down the line.

I agree. There are so many mistakes that crypto beginners should be aware of like falling for scams in the crypto space. Most beginners are always looking for the next bitcoin or some random token that will give them 100x without even doing research and following what the influencers told them. I think they should start by knowing what is a cryptocurrency or a bitcoin. Knowing the basic knowledge of this will help them to be cautious and skeptical of the things that are being offered to them. They should be also aware to keep their private keys safe and never share them with people that they don't trust. I think we as a community help the beginners to not fall for these mistakes by informing them of our experiences when we are also getting started.

And usually, beginners just follow the advice of someone they see on social media or Youtube and immediately register themselves on the crypto exchange platform suggested by the influencer. That is the most common mistake that beginners often make because they don't research to find a trusted crypto exchange platform. If they could get more information about the crypto exchange platform, surely they wouldn't make a mistake. But it depends on their willingness to start trading in crypto. Most want quick profits without realizing that the market situation is always changing, and they need to learn more.

The biggest mistake a novice can make is to believe all the advertisements made by influencers and seen on instagram and tik tok: if a person believes this nonsense, he will lose his money 100%

crypto exchange mistakes?  how come when we can choose depending on what the internet will tell and surely first in the lists are Binance and Kucoin.

exchange that safer and best for beginner also.

But what you said is correct that they need to find good exchange and also a good coin.