Quote from: shawonngp on September 16, 2024, 02:26:11 PM

Quote from: Gladitorcomeback on September 13, 2024, 04:26:29 PM

Those newbie traders and investors who are always chasing profits and because of that they are trading meme coins or newly launched altcoins, tend to incur more losses because they don't understand the movements of the market very well, so they make entries at the wrong points and when the price starts dropping, they panic sell and lose money.

So the best practice for new traders is to only trade famous cryptocurrencies and keep learning so that they can understand the market better and be able to broaden their trading horizon.

Newbies chasing profits somehow because they want to rich at overnight even when they trying to trade against in market trend, newly meme coins sometimes increase highest as per as wif,shiba inu, pepe coins, so they are rush to invest in meme coins to increase their money 5x to 10x, but end of the day their mission will fail. Newbies should trade with big coins which will be safe always.

As beginners who chase profits, it is very unlikely that they will succeed in their trading and this also applies to those who have known trading for a long time, because of course this is done only based on their desires not based on the knowledge they have and we think it will not be possible for beginners who are just starting to trade will easily make a profit from it of course they must first understand trading well to be able to make a profit from trading.

Trading in a hurry will certainly make anyone skip some things that must be done before entering the market and of course this will not give the right decision on the trades we make, so for anyone who decides to trade it would be better for them to do it carefully and correctly as you said as a beginner it would be better to choose a large coin but they have to try with a little capital first so that they can still bounce back when they fail.