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.
The majority of the novice are lack of knowledge, they always want a faster profit here were for them there is a shortcut but the truth is not.
Aside from that, some of them are too greedy, and also some feeling veterans or experts for a little bit idea they get where in the end always got lose their assets.