Topic: What are the usual mistakes that newbie traders usually do? - page 9. (Read 1981 times)
Of course experience!The most important thing in our life is experience ,make more mistakes and do not be afraid.But do not forget about self-development and education ,there are many books already and different forums where you can learn all about cryptography and avoid unnecessary losses .
I believe the usual mistakes is to buy high and sell low. This happens because of lack of experience and panic.
I think the usual mistakes made by newbie traders is panic selling, can not control their emotions, lack of knowledge and also greedy. Due to lack of knowledge and can not control their emotions, make newbie traders panic when seeing the price dropped and decided to sell loss rather than hold their coins because their afraid to suffered more losses. In addition they also greedy for hoping to get a big profits so often miss the opportunity to get a decent profit, and eventually again decided to sell loss because of panic. I think that probably happened to almost any newbie trader including me at that time.
One of the biggest mistakes for Newbie is FOMO . they see somone saying about that coin is good .They want to have big money ,so they invesst them without doing researching any infomation.
For this reason people who have got good experience in trading are advising these young people to not just dive here without any proper information. There are hundreds of flopped stories where people never had good time just because they were new but still they always be greedy. Better it research properly and only this one step can yield good ending results.
Beginners often panic and start doing wrong things. In investing, the most important thing is not to rush.
trading with emotions
This is the major mistake everyone makes anyways, for new users they just buy when the pump is getting high not realizing that its just a pump and then they tend to hold, shockingly the price drops.
This is the major mistake everyone makes anyways, for new users they just buy when the pump is getting high not realizing that its just a pump and then they tend to hold, shockingly the price drops.
It is in no hurry and does not check the purse thoroughly before the transaction, thus making it easy for us to lose money if we do not check carefully and always rush to not sell at a reasonable price.
The usually mistake of the new trader is the oanic selling I think because of that they lose more money.
I think the biggest mistake is not to be prepared for mistakes. experience is given with some time. you must be ready for loss and find the strength to start over. many people think they can invest their money and make a profit. but this is not so in fact.
Yes.The problem with newbies is that they only see crypto trading as a means of getting quick profit but they are not knowledgeable and prepared enough to take some risks just to make their aspirations be reach.And when they see the prices fall suddenly,they are always overcome with their emotional fears and so they end up losing because of panic selling. 
greed emerges from lack of discipline that newbie traders usually have
without clear percentage profit/loss target, traders tend to do it emotionally
and that would certainly lead to uncontrolled and unsystematic bad trading habit
every good old seasoned traders usually have their own system and strategy to make profit
without clear percentage profit/loss target, traders tend to do it emotionally
and that would certainly lead to uncontrolled and unsystematic bad trading habit
every good old seasoned traders usually have their own system and strategy to make profit
in my opinion being greedy is the biggest problem that begineers do, we don`t know when to quit and always become positive regarding prices, but in reality they are not as good as we see but we keep holding and not cutting the loses.
Greed is really the main problem. Not selling because "it can grow even more"? Check. Going all-in? Check. Staying in dying currency because hodl is the key? Check. Trying to trade on unstable market which can go up or down? Check.
Greed is trader's worst enemy.
in my opinion being greedy is the biggest problem that begineers do, we don`t know when to quit and always become positive regarding prices, but in reality they are not as good as we see but we keep holding and not cutting the loses.
I agree with you. I have lost some good chances by setting high sells order and finally never did sell until price was down. If I sold at 20% profit. I would have been better.
in my opinion being greedy is the biggest problem that begineers do, we don`t know when to quit and always become positive regarding prices, but in reality they are not as good as we see but we keep holding and not cutting the loses.
Always remember these two things all the time and try to acquire the skills over the different trades. experience is given with some time.It is not only for newbie, anyone could probably still make them.
As a new kid in the cryptocurrency world, we often have our share of first mistakes in trading which helps us to be able to become better and wiser in the next transactions. What are these usual or common mistakes that newbies commit?
New traders expect a lot of income from trading, they think that crptocurrency trading and investment is just a one-night-rich-scheme. That is why they sometimes buy coins out of FOMO and hype, which can lead to losses. I think it is somehow good to commit such mistake, but you can also learn without risking your money or incurring losses.
As a new kid in the cryptocurrency world, we often have our share of first mistakes in trading which helps us to be able to become better and wiser in the next transactions. What are these usual or common mistakes that newbies commit?
being greedy is the number one mistakes one can have. if something is too good to be true, then you should not risk the chance given that you are still a newbie and will have similar opportunities in the future which you can deal better.
making decisions without thorough research on the project. this is also a mistake commited by many. internet is full of stuffs that you can research on. so when something goes wrong because you didn't do the research - you are the only one to blame.
I think the biggest mistake is not to be prepared for mistakes. experience is given with some time. you must be ready for loss and find the strength to start over. many people think they can invest their money and make a profit. but this is not so in fact.
I think that is their trading experience. There are many problems when dealing with Crypto. I can list them as follows:
- Volume of Crypto transaction
- Technical analysis is complex and may not be accurate
Newbies who are not tech savvy and have a lot of market news.
- Crypto is easy to push higher and lower.
- Volume of Crypto transaction
- Technical analysis is complex and may not be accurate
Newbies who are not tech savvy and have a lot of market news.
- Crypto is easy to push higher and lower.
For me, as a newbie I was then, i made the mistake of buying my very first coin at very wrong time.. It was on an mooning move, so i jumped in. Dumped on me hard. I had to sell at a loss as the coin didn't bother rising again.
Biggest mistakes are being too greedy, getting ito projects on fomo without any research and selling with a loss.
Frankly, to be greedy isn't just an issue for newbie, even professional traders can be greedy as well. The most common mistake for newbies may due to the lack of experience that caused them to be in panic situation when they see their investment down deeper. At such condition, newbies will cut the loss because of afraid to lose more money, which isn't good decision from my point of view.
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