Noob Trap
a.k.a. Newbie trap, N00b
Any setup, scheme or price move that lures in inexperienced traders and takes their money.
In plain English
Any setup, scheme or price move that lures in inexperienced traders and takes their money.
A noob trap is bait laid out for beginners ("noobs"). It might be a fake breakout that sucks in buyers right before price collapses, a coin promising impossible returns, or a "signals" group selling the dream. Beginners walk in because they do not yet know what danger looks like.
The best defence is boring: small size, a demo account while you learn, and a rule that anything promising easy money gets extra suspicion, not extra cash.
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