In such situations, they start trading without analysis or a proper strategy. They become what I call gambling traders, because they trade like they are gambling. From that, they end up liquidating their accounts and begin saying that trading is a scam and just like gambling, when in reality, everything that happened to them was caused by their own greed.
It's important to understand that trading and gambling are two different things. In gambling, it's the casino who is the winner because the games are designed in a way that flow of money is always from gambler to casino. But in case of trading, one can earn profit provided he move with patience and acquire trading knowledge. The reason why majority traders lose money is because they buy in morning and want to price to go up in next few hours, if that didn't happen they sell their tokens in loss.