The major reason that they don't have patience is that their position sizing is incorrect and they are wildly overextended and so have quick trigger fingers.
Impatience, lack of knowledge and no trading plan, lead traders to sell at the worst time in the trading zone. Experienced traders start trading with a well-defined plan. They know their exact entrance and exit points, the amount of capital they need to put into the trade, and the maximum loss they are willing to accept.
New traders sell at the worst time due to a variety of reasons, including a lack of understanding, a lack of a well-thought-out strategy, and impatience. They must first study the market, come up with a strategy, then trade wisely.
So watching the market now. As a noob trader i caught myself multiple times running out of patience at the bottoms Why? Because the tight consolidation is not moving up or down its basically stuck in small price range where i cant even get out in a small rally up. And its extremely painfull to watch it slap you over and over with tiny movements.
That happens probably cause they are seeing a spike in an upward or downward trend and trying to get in without realizing it is already too late just to lose money. There is absolutely no planning or technical analysis being done beforehand and just pure FOMO. I made that mistake when I first started trading, it's a very costly one.
New traders fail at controlling their excitement. They also fail at analysing the market well and if they analyse it, they fail at sticking to their trading plans. They get influenced by the market and change their plans.
%% I agree with about 99% of that; except the ''dont overthink it'' part. Its acting[not the thinking] on the overthink part that's harmful\ which is probably what you meant= even though i'm not a mind reader. OP headline;New Traders Sell @the Worst Possible Time. But my comments dont apply to crypto cr*p, which he mentioned. I dont understand M douglas pshyc-babble also; so no problem there. I do understand the counsellor that admitted with a bit of shame he bought into KO about $13 = +with 80 % loss+/ he got into something much better As noted before ''the worst time'' is only possible if one sells out all @ once.LOL Speaking of psyho-bable-lie if one could ''consistently buy + sell @ worst possible times before big move''; simply keep excellent records could make one get rich quick. NOT that simple. Good points............................................
You need to have a plan to be able to execute a time frame correctly. You can’t expect to follow someone else’s advice blindly and wait for results.
Not knowing ranges, price elasticity... eg uvxy dropped hard post cpi yesterday, many sold at bottom near 7, worst time.... I bot 3k shares starting 7.15 and banked, selling into buyers as it skyrocketed up . Don't be a pussy at bottoms