Why newbies lose huge money in trading - page 12.

cheezcarls

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Quote from: Realgogo on July 21, 2021, 03:32:53 AM

Most newbies lose huge amount of money because, after learning the basics of trading they feel they know it all, they think they can manipulate through the market. But they end up losing big.

No matter what you are thought, you must know this that to be a successful trader, it takes practice and consistency.

In my opinion, newbies are losing in trading due to their lack of experience and risk management. They need to spend some time learning more about cryptocurrency trading starting off with the basics. There are so many sources that they can find in the internet like here on Bitcointalk, Youtube, Google, etc.

However, even the technical analysis of the so-called "pros" and "experts" aren't that accurate because of the market's volatility in which the movement may depend on several factors like good or bad news, whale pumping or dumping, etc. In other words, the market is very unpredictable and we always have to be prepared in this kind of risk.

Sihab76

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Trading is not an easy task, especially for those who do not know much about trading. Especially those who are new to trading open a demo account before trading Have to learn. Otherwise, they may face huge losses in trading.

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Quote from: Beparanf on August 04, 2021, 10:38:08 AM

Quote from: Sanugarid on August 04, 2021, 10:33:57 AM

snip

Even an old trader here on crypto still can get loss lots money for a short period of time because leverage trading and FOMO buying on shitcoins. The whole crypto market is very dangerous not only for newbie because indicators, signals and some trading trick will not gonna work on a market that pronoe of manipulation by whale holders. Its not that newbie getting cocky but the crypto market itself is very dangerous and not advisable for newbie that has a weak heart for losses.

It's not being cocky though, they overestimate their stay in leverage thinking there's still room for some more and ended up with nothing but losses. Veteran traders don't get cocky because they've been there already and they won't be making the same mistake unlike newbies who started only about a month ago.

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Quote from: Xuanansent on August 04, 2021, 06:18:41 AM

beginners who come to forex or the like just hope for easy and quick earnings, because this is exactly what they are promised in advertising, but this is far from the case

That's because they were misled by the people who introduced them to crypto trading and even other stuff involving money and investing, which leads to them thinking that you can make a quick buck out of it but soon gets hit by the reality that it's a difficult thing to do and an extensive experience is needed to be successful.

Beparanf

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Quote from: Sanugarid on August 04, 2021, 10:33:57 AM

Because most newbies are cocky thinking that it's all easy money, not anticipating the fact that it's a volatile market and they underestimate the volatility of the market. The solution to these cockiness is knowledge and experience, if they have adequate knowledge, they won't underestimate the market because they know better, experience can be gained even without risking anything.

Even an old trader here on crypto still can get loss lots money for a short period of time because leverage trading and FOMO buying on shitcoins. The whole crypto market is very dangerous not only for newbie because indicators, signals and some trading trick will not gonna work on a market that pronoe of manipulation by whale holders. Its not that newbie getting cocky but the crypto market itself is very dangerous and not advisable for newbie that has a weak heart for losses.

Sanugarid

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Because most newbies are cocky thinking that it's all easy money, not anticipating the fact that it's a volatile market and they underestimate the volatility of the market. The solution to these cockiness is knowledge and experience, if they have adequate knowledge, they won't underestimate the market because they know better, experience can be gained even without risking anything.

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Quote from: bakasabo on August 04, 2021, 02:06:25 AM

Because newbies probably think that investing in cryptocurrency and trading is easy, they rush to take decisions.

It is very unfortunate that most newbies had come to that end due to their emotions. But I believe that not all newbies think like this, some have also knowledge as they might have some experience in the other form of investments which gives them a reason to survive.

Quote

Also one of the reasons is that just one click separates them from loosing money - they buy what shows most gains on the exchange right now. I've seen how people sort cryptocurrency trading pair by "descending change" and buy the one that shows most % growth. Their graph is set to 4 hour, or 1 day or even 1 week. They see that altcoin shows a huge growth with probably a little decrease and that suits them perfectly. What they dont know, is that if they switch to 1minute or 5 minute graph, they would see that there are huge volumes of sales and they would understand that they has bought their asset at ATH. And it is not unusual that they go all in with that altcoin.

That is certainly hard for them if they just have limited knowledge of the market. I surely seeing that no one will ever succeed in that position. Knowledge is one of the vital things needed in trading, most of the traders are investing this and even to spend a lot of time for this and that is not to wonder how they become successful in the end.

Xuanansent

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beginners who come to forex or the like just hope for easy and quick earnings, because this is exactly what they are promised in advertising, but this is far from the case

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Quote from: Xinarae* on August 02, 2021, 11:21:10 PM

Newcomers lose a lot of money in trading because they do not have much knowledge about the market and are less patient and more emotional. You have to have patience to trade and if you can't control your emotions you can't succeed also the main reason for losing money is inconsistency they know dozens of trading techniques and try to use them in every market they trade. They also trade in several markets at the same time they will rarely follow their trading plans all this combined will eventually lead to huge losses.

It is true that they're more emotional and don't have the patience just as the traders that have been trading for years.

That's what they have to have when they go in trading. Surely, they're going to lose if they're only relying on their decision without being patient for each decision that they make.

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Quote from: bakasabo on August 04, 2021, 02:06:25 AM

Because newbies probably think that investing in cryptocurrency and trading is easy, they rush to take decisions.

Also one of the reasons is that just one click separates them from loosing money - they buy what shows most gains on the exchange right now. I've seen how people sort cryptocurrency trading pair by "descending change" and buy the one that shows most % growth. Their graph is set to 4 hour, or 1 day or even 1 week. They see that altcoin shows a huge growth with probably a little decrease and that suits them perfectly. What they dont know, is that if they switch to 1minute or 5 minute graph, they would see that there are huge volumes of sales and they would understand that they has bought their asset at ATH. And it is not unusual that they go all in with that altcoin.

I think novices have most of the good luck, but this kind of good luck is only temporary. I suggest that if you are going through the novice stage of luck, you can withdraw the principal or profit.

bakasabo

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Because newbies probably think that investing in cryptocurrency and trading is easy, they rush to take decisions.

Also one of the reasons is that just one click separates them from loosing money - they buy what shows most gains on the exchange right now. I've seen how people sort cryptocurrency trading pair by "descending change" and buy the one that shows most % growth. Their graph is set to 4 hour, or 1 day or even 1 week. They see that altcoin shows a huge growth with probably a little decrease and that suits them perfectly. What they dont know, is that if they switch to 1minute or 5 minute graph, they would see that there are huge volumes of sales and they would understand that they has bought their asset at ATH. And it is not unusual that they go all in with that altcoin.

elisabetheva

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Quote from: Bitstar_coin on August 03, 2021, 01:39:00 PM

It is not just newbies, anyone can lose money as long as you fail to go get the necessary knowledge of trading, even the most experienced traders sometimes lose let alone none experience traders, trading requires knowledge and patience, if you don't possess this two you are likely going be losing money whenever you attempt to trade.

trading knowledge is very important in every time we want to do it we can't avoid it but again it takes patience and not to panic quickly for every execution that you will do. analysis and experience may be able to help but if it is not helped with patience and not panic, then it is useless. I agree with you that this matter is not only because of experience or not, everyone will be able to experience it and from that experience we can continue to learn.

Bitstar_coin

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It is not just newbies, anyone can lose money as long as you fail to go get the necessary knowledge of trading, even the most experienced traders sometimes lose let alone none experience traders, trading requires knowledge and patience, if you don't possess this two you are likely going be losing money whenever you attempt to trade.

LongStand

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Newbies lose huge money in trading because they don't have any previous trading experience. They don't have any knowledge about trading so for the first time when they invest they lose money in trading. Newbies invest based on feeling. So its not wiser to trade without any knowledge and experience of trading.

Tahsin Kabir Kollol

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One of the main reasons why newcomers waste a lot of money on trading is because it is a normal thing. Because at the beginning of any work every new person makes some mistakes which through correction and effort he becomes proficient in that work. Moreover, due to the involvement of greed and risk in trading, most of the new traders face a lot of losses as they do not take these issues seriously. On the other hand, most new traders start trading with little experience due to a lack of patience. As a result, they face losses. Many people take the subject of trading in a simple way, which leads to a variety of wrong decisions in real-world trading.

conected

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Quote from: dustboy on August 03, 2021, 05:04:27 AM

Quote from: Realgogo on July 21, 2021, 03:32:53 AM

Most newbies lose huge amount of money because, after learning the basics of trading they feel they know it all, they think they can manipulate through the market. But they end up losing big.

No matter what you are thought, you must know this that to be a successful trader, it takes practice and consistency.

Newbies means some people who have just learn about new thing, do you think newbies will spend huge amount of money on something that they have just learned? When I was a newbie and if I'm going to be a newbie on other thing, I will not spend too much money as I will consider it as a big mistake. By the way, how do you know that most newbies lose huge amount of money? Is there any specific valid researches on this case?

- You can be a cautious person when dealing with new things and the investment is also low minimum but you are not surrounded by such careful individuals, quite a lot of new people like to show a bit of their greed, if they have decided to invest, it will be a huge investment and they can even borrow money, to say they don't understand and are careless is also incorrect, we can only say that newbies don't know yet enough. Although the research data are not exhaustive but a tourist area full of evidence at telegram groups is a lot, new people lose money from being scammed to emotional trading.

dustboy

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Quote from: Realgogo on July 21, 2021, 03:32:53 AM

Most newbies lose huge amount of money because, after learning the basics of trading they feel they know it all, they think they can manipulate through the market. But they end up losing big.

No matter what you are thought, you must know this that to be a successful trader, it takes practice and consistency.

Newbies means some people who have just learn about new thing, do you think newbies will spend huge amount of money on something that they have just learned? When I was a newbie and if I'm going to be a newbie on other thing, I will not spend too much money as I will consider it as a big mistake. By the way, how do you know that most newbies lose huge amount of money? Is there any specific valid researches on this case?

Questat

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Quote from: Xinarae* on August 02, 2021, 11:21:10 PM

Newcomers lose a lot of money in trading because they do not have much knowledge about the market and are less patient and more emotional. You have to have patience to trade and if you can't control your emotions you can't succeed also the main reason for losing money is inconsistency they know dozens of trading techniques and try to use them in every market they trade. They also trade in several markets at the same time they will rarely follow their trading plans all this combined will eventually lead to huge losses.

In general, it is all about market preparation and self-control. It is for sure, no one will ever succeed if we don't have this stuff. Many had to think trading was easy as many advertisements says but the truth is that, they are just lying to us. And now, these newcomers will think differently and even to blame the market which is supposed to be they have their self first as this was their fault.

sulendra12

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Quote from: Realgogo on July 21, 2021, 03:32:53 AM

Most newbies lose huge amount of money because, after learning the basics of trading they feel they know it all, they think they can manipulate through the market. But they end up losing big.

It's not only limited to newbies. Even "experienced" traders are having the same experience, they think that whenever their strategies worked on certain coins and then they can use it on all of the coins on the market, where in reality it doesn't work like that.

I have seen lot of the examples about it and they ended up in losses and suffers a lot from it.

Quote from: dotcoin.info on August 02, 2021, 01:29:08 PM

I believe that beginners lose a lot of money in trading only because they make large deposits in the expectation that this will reduce their risks.
You need to start with a small deposit that you are not afraid to lose, and trade in percentage terms based on your deposit as 100%, regardless of the amount deposited.

There is no such thing like that, I have talked to different beginners on trading and they don't even know how much they should start for trading, so expecting them to make a big deposit is such a nonsense.

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Quote from: Cherylstar86 on August 02, 2021, 09:41:50 PM

Quote from: boyptc on August 02, 2021, 06:17:19 PM

Quote from: dotcoin.info on August 02, 2021, 01:29:08 PM

I believe that beginners lose a lot of money in trading only because they make large deposits in the expectation that this will reduce their risks.
You need to start with a small deposit that you are not afraid to lose, and trade in percentage terms based on your deposit as 100%, regardless of the amount deposited.

And that won't lessen the risk, whether big or small deposits, risk won't change. But their potential lose is just going to be lessened if they tighten their budgets.

It's the best start, to only deposit with small amount and their run from there so they will get the experience and as well as strategy.

Indeed. Risk is always been there not just here in cryptocurrency world but also in our daily things we did. We can't avoid risking but we can manage it through learning. Some of those newbies are impatient, doesn't have trade plan, trading without knowledge on it, and trading too much. Other reason is they don't know stop loss tool or they are not using the stop loss tool correctly. If a trader uses stop loss they are actually able to control the risk. The best way is to start again if you lose huge money and try to make those experiences as an inspiration.

That's risk management that you're describing.

It's a must for most traders and newbies, most of them don't have the idea about that. But once they started to learn about risk taking and management.

They can minimize their losses as they trade.

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