3 Traps That Beginner Traders Need to Know

[lyudkic3008 30]

On 2/9/2020 at 5:08 AM, Afrizal rahman said:

3 Traps That Beginner Traders Need to Know :
1. Using Emotion
Using your emotions to make your trading decisions is a mistake that you should be aware of. One factor that can damage traders' portfolios is "making decisions involving emotions?"
2. In a hurry to buy cheap and unverified coins
Rush to buy cheap coins that are not verified is something that must be avoided. Because there are also thousands of cheap and fake tokens.
3. Trust all the information you read
This is a big trap that you should avoid. The internet has made news accessible to anyone. Therefore, you need to be careful with the news sources that you get.  More importantly, do your research before applying any recommendations.

 

Those are the three pitfalls you should avoid, if you want to add, please.  Don't forget to like if you think this is important and give input if there are errors.

Thank you for your post, it is very valuable to me as a person who has just begun his journey in this direction.  I'm trying to learn more about the coins I plan to buy.

[razgildai 20]

This is very useful information to beginner. This will help beginner to not get trapped. I wish I would know about it in the beginning of my crypto journey. Definitely made all the mistakes written 😄

Edited October 5, 2020 by razgildai

[Mahadi hasan Nayem 31]

Crypto trading is not a easy thing ! As a beginner you should follow these 3 steps ! First you have to research , dont believe others research , don't be emotional , taking desison wisely

[racentenog 61]

Thanks all that is true, first we must investigate because sometimes they advertise a cryptocurrency and say that it will pay wonders and then when it is invested it collapses leaving all your investment withheld.
It happened to me once and totally I can never recover the investment I had to sell at a loss to be able to recover some of my funds.

[nadenka 7826]

7 hours ago, Rolandosmart said:

Thanks for bringing these principles to my attention. I would keep that in mind and as you said I would do some research on the coin or token before investing. Now, something really important you mention is that we should not rely on everything we read on the internet. The thing is that I am brand new in this world and I would not even know where to look for. May anyone tell me or the public what are the most reliable sources on the internet? Something like a top 10 or 20.

Very interesting and informative article. Thank you very much! Everything is written correctly)))

[Niloy123 69]

3 Traps Startup Traders Need To Know We Have To Have A Business Mindset And We Have To Have Patience To Be A Successful Trader I Think  Must work with.Thanksfor everythin.    

[Mark wood 2970]

Thanks for sharing such a great information I really like this it is essential knowledge I don't have information like this now I'm focusing on getting more related to this and it is better to have a great knowledge I want more related this..

[Just_Lucky 55]

Fully agree with author but I don't not only the begginers can fell into these traps: especially third one. Even if you have a good source of information sometimes it may fail you down. 

[83gnrhbl71ld 4]

show appreciation you for selection us with advantageous tips. essence in a rush whereas trading is not profit for the reason that you tin at sea your money. You say to be custody and unyielding your trading bit by bit subsequently that you bottle get I beg your pardon? you do.

[Diego Alfredo Moral 28]

On 2/9/2020 at 12:15 AM, Shivam1 said:

Thanks for this information. Yes you are right there are many cheap and fake tokens are available in the market. But we should alert before buying the coins. 

 

I also thank you very much, these post are always useful, to take into account when starting in the world of investments.

 

[Evgenij413 17]

I think it is still very important to follow the news in the field of cryptocurrency. It is also worth noting that any trader should have patience. If you do it hastily, it is likely that you will have to wait for failure.

[dimaminecraft 17]

Much obliged to you for presenting your insight on your subject here, in light of the fact that is essential to realize that exchanging isn't simple, isn't simply sell or get, you have to know the second where you purchase and you sell and to have some information about how to dissect the cryptographic money market circumstance.

[Chrenova 182]

13 hours ago, Rolandosmart said:

Thanks for bringing these principles to my attention. I would keep that in mind and as you said I would do some research on the coin or token before investing. Now, something really important you mention is that we should not rely on everything we read on the internet. The thing is that I am brand new in this world and I would not even know where to look for. May anyone tell me or the public what are the most reliable sources on the internet? Something like a top 10 or 20.

Hi friend! Thanks for following me on this forum. I tell you that if you want reliable sources of something, I will comment at the beginning. Never trust someone who sends you a message first offering you something by telegram or any other Social network. They are just Scammers, because that is the way they work. If you are looking for reliable sources, look in the pages of the projects, if they have airdrops or promotions, they will announce it. And in one of the places where they announce it first is Twitter, that social network is par excellence where they put, if you don't have an account, make one and start following the projects and their official accounts for the true information.

[cesarladino1515 60]

Well these are for me:

 

1. Do not give your money to anyone if you lose it, it is better that you lose it so you will learn more from your mistakes.

2. Do not have weak hands hold your digital assets as long as possible.

3. If you are going to trade, learn first, educate yourself you can lose money very quickly if you do not know what you are doing

[Sergiowa 135]

On 09.02.2020 at 05:08, Afrizal rahman said:

3 Traps That Beginner Traders Need to Know :
1. Using Emotion
Using your emotions to make your trading decisions is a mistake that you should be aware of. One factor that can damage traders' portfolios is "making decisions involving emotions?"

It's good you put emotions as the first trap since I consider it the main too. Emotions bring FOMO feeling. You just look at the green percentage growing and get into but "to the moon" but it appears down.

 

What I would ad more is greed. Putting very high targets and not fixing the profit entails failure in the long run. Thinking that 5-10% profit per trade at crypto market is not enough and waiting for those double-triple price that one has seen is a mistake. 

[Alexánder Morffe 235]

My beginnings were with the yobit platform, it has good tools, but in this forum they touch valid elements where if these are not taken into account they would lead to losses for the user, we can have the best exchange portal, but be influenced by the "crypto news" from google, many of them designed in laboratories begin to hide the thinking of many traders, who come to invest motivated by a false sense of security that sometimes unofficial sources give them, that is the greatest damage it can cause to our pocket There is no formula in this market, just follow your good judgment once you have carefully studied each probable scenario where you intend to place your money.

[SerhiiShydlovskyi 38]

Many people know that the number of successful traders is only 5% of the total number of traders. These 5% grew up on their mistakes, gaining invaluable experience. They perceive any wrong action as another chance to make more efforts to achieve success. The next time, there may not be such a chance.

 It is the quality that distinguishes successful players from losers. Wish you great success! 

[Domoz 17]

Trading is so much riskey in crypto , so if you want to trade then learn trading first, without learning not  do it, you always need to be consistent ! Never trade with your emotion

[CruSh1k 25]

This three traps are well-known, but thank you very much for remaining! For me, as completely newbie, this information should be always in front of my eyes!!! And much more other rules

[Nicolae01 73]

1. NEVER sent your crypto to someone that tells you that they offer you 3x the amount you send

2. NEVER register on strange websites with your usual logins, site owner might try your login informations on exchanges and steal your crypto

3. NEVER meat someone to trade crypto face to face. You don't know what they want, they can do many bad things to you (physically). Stay safe, stay at home.

4. ICO that are more than 50% of total supply are scams.

5. Bad website = scam

6. No team or anonymous team ? SCAM, avoid it.

7. ETH fees are high nowadays, you can easily pay 20$ of fees if you trade more than 1'000$

[Puzcoin 17]

Just start trading with low sums of money and learn. Be ready to lose it and don't worry about it - it is your price for experience.

[Logigin 45]

Also, I want to add, find out how to properly store your data, and think over a plan of action in case someone steals your data. We always put it off until later, but at some point it will be too late.

[decemberends 1881]

Though i understood this perfect my friend somehow still failed to avoid these as i know its impossible to control it forever but he was panicked was the last time i saw him and i feel sad for him failing a big invest though we managed to gain some the experience that he had was unforgetable.

[Simple94 16]

A good trader needs a lot of patience and dedication to be able to work and also must always be willing to study more

[GM266 673]

You are absolutely correct. And most of the time we can see that a beginner fall into a trap because of greed or lack of awareness. Sometimes spammers send phishing emails and with a fake domain name. At that time, a beginner should be aware and check the domain before logging in or sharing any kinds of information. One must not be greedy at that time.