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.
I agree on that most of the newbies wanted to earn fast, they always think about the money first before searching for the good strategy on how to trade. That is why most of the newbies in trading loss a huge amount of money.