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.
Most of newbies lost their money is because they are over confidence. They does not realise that when they get profit without technical analisys and fundamental analisys its just luck and luck will not gives them stable profit.