These are few challenges faced when I newly got into trading, which I think I should share so people who are new traders should know.
[1].Don't Chase the market:
There is always a next opportunity in the market,
True, it's okay to failed at first, there is always a next chance for us.
[3].Don't predict the market ,react to current market situation.
This is what that cost me blew a lot of my trading capital. Always wait for trend direction and follow the trend , As they say... trend is your friend until it's finished.
Believe it or not, people trades by following the trend have achieved more profits than regular trade in most cases. Look at when Doge and Shiba went up to the moon, I have seen people in my place were getting good profit from there and stop it when they have enough, it's surprisingly a great method to earn something really big in one sitting.
[4].Don't outsmart the market :
market does whatever thing it wants to do, so don't be too smart wait for confirmation.
True, sometimes if you think you have enough informations to decide what to do in trading, but in the end the market does the opposite for you. It's not going to hurt if you wait patiently and wait for the right moment, chasing for bigger profit is fine but you have to do it in the right conditions.