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.
Having no technical analysis, that already it is one reason why newbies have it wrong when they trade.
They are lucky to have some profits if they trade ahen they do not have analysis and as for stable profit, this is hard to maintain in trading.