A nob in trading needs help - page 4.

Xampeuu

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Quote from: AakZaki on May 08, 2023, 11:49:11 AM

Quote from: maydna on May 08, 2023, 03:20:13 AM

If they don't want to learn and only rely on signals from other people, they will not be able to make profits but experience losses because the signals from other people don't always work well for them.

But by learning more about trading, he can improve his ability to analyze the market and know what to do if the market is in a certain condition. He can also become an investor besides just trading by trying to accumulate bitcoins that are taken from money from the profits of trading. And that can help him to gain additional profits in the future.

yes that's right, beginners who are new to trading or crypto should follow that advice. But let's see, many newbies just want instant results without the need to learn more about the science of trading. only rely on signals from others.
It will never develop if you only rely on others, it will only wait where they will experience a lot of losses when the advice from others is wrong.

justdimin

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Quote from: Yamifoud on May 08, 2023, 05:38:44 AM

Quote from: Prestongold on May 05, 2023, 09:19:57 AM

At this level, I am well informed about Bitcoin and its securities, I have read on the forum how Bitcoin and cryptocurrency trading has changed people's lives, and I am kind of interested in acquiring skills, I have read in many other threads on how risky Bitcoin trading is.

But at this point, I will really like to know whether or not Bitcoin trading is a means to gain profits during market speculations, and how possible it is to make passive income through cryptocurrency trading.

Well, I tell you that it was profitable but take note also that not all who tried trading went successfully, some had also quit because of suffering losses and disappointments. If ever you believe that you are really for this, I encourage you to try then in order to know the reality because you can't assume what happens to others (successful traders) will also happen to you. We never know if you become like those who quit as well. Of course, I don't want to say you thinking negatively but must have to know it as well and know the consequences.
I would say trading is profitable but also it depends on the trader.

I would guess most people who trade end up with a loss, there are minority of traders that make majority of the profits, the 80-20 rule applies here too probably, we end up with 20 percent of the traders making 80 of the profit and 80 percent of the trades get the 20 percent profit and the losses endured on the same period.

I feel like that should not be the important deal though, if you want to become a good trader then you could spend some time on it and you could become better as well. It's not impossible to get into that top 20 percent, you could become like that and all you need is something that needs to be reworked and learned. If you can spend the time required for it, then you can become a lot better and you could make a lot more profit with it as well.

AnonBitCoiner

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Before experience users of cryptocurrency just hear about the things but they realize the main them when they experience bad or good things. One cannot understand without keeping a list of good and bad about trading and success is possible of a person participate and then make a better decision based on circumstances.

You are right that in every field where there is benefit there so exist some difficult conditions which is necessary to understand. I think if a person regularly trade for some times and never get rid of it when loss little money then it become possible for him to achieve the success after examining the reality.

AakZaki

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Quote from: maydna on May 08, 2023, 03:20:13 AM

If they don't want to learn and only rely on signals from other people, they will not be able to make profits but experience losses because the signals from other people don't always work well for them.

But by learning more about trading, he can improve his ability to analyze the market and know what to do if the market is in a certain condition. He can also become an investor besides just trading by trying to accumulate bitcoins that are taken from money from the profits of trading. And that can help him to gain additional profits in the future.

yes that's right, beginners who are new to trading or crypto should follow that advice. But let's see, many newbies just want instant results without the need to learn more about the science of trading. only rely on signals from others.
It will never develop if you only rely on others, it will only wait where they will experience a lot of losses when the advice from others is wrong.

Yamifoud

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Quote from: Prestongold on May 05, 2023, 09:19:57 AM

At this level, I am well informed about Bitcoin and its securities, I have read on the forum how Bitcoin and cryptocurrency trading has changed people's lives, and I am kind of interested in acquiring skills, I have read in many other threads on how risky Bitcoin trading is.

But at this point, I will really like to know whether or not Bitcoin trading is a means to gain profits during market speculations, and how possible it is to make passive income through cryptocurrency trading.

Well, I tell you that it was profitable but take note also that not all who tried trading went successfully, some had also quit because of suffering losses and disappointments. If ever you believe that you are really for this, I encourage you to try then in order to know the reality because you can't assume what happens to others (successful traders) will also happen to you. We never know if you become like those who quit as well. Of course, I don't want to say you thinking negatively but must have to know it as well and know the consequences.
I would say trading is profitable but also it depends on the trader.

maydna

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Quote from: AakZaki on May 08, 2023, 12:42:32 AM

Quote from: maydna on May 07, 2023, 01:29:21 AM

So far, many people have tried to trade to make a profit, which has made them continue to learn about trading, including improving their ability to analyze the market. You must have analytical skills in trading to get time to trade.

Passive income means you can earn without doing anything. Meanwhile, in trading, you have to analyze a lot of coins and find the right one to make a profit. So trading is not a way to earn passive income but to make profits. But you can buy bitcoins, store them, and sell them at the highest price to make a profit.

Learning to trade and to make a profit is a given and it is desired by everyone. The more you learn and understand how trading works, the greater the level of profit that will be generated.
In addition to trading, you can also become an investor for the long and medium term, because by buying at the bottom and holding until the price is higher it will generate a fairly young profit, but it is necessary to be patient and sell when the target is reached.

If they don't want to learn and only rely on signals from other people, they will not be able to make profits but experience losses because the signals from other people don't always work well for them.

But by learning more about trading, he can improve his ability to analyze the market and know what to do if the market is in a certain condition. He can also become an investor besides just trading by trying to accumulate bitcoins that are taken from money from the profits of trading. And that can help him to gain additional profits in the future.

AakZaki

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Quote from: maydna on May 07, 2023, 01:29:21 AM

So far, many people have tried to trade to make a profit, which has made them continue to learn about trading, including improving their ability to analyze the market. You must have analytical skills in trading to get time to trade.

Passive income means you can earn without doing anything. Meanwhile, in trading, you have to analyze a lot of coins and find the right one to make a profit. So trading is not a way to earn passive income but to make profits. But you can buy bitcoins, store them, and sell them at the highest price to make a profit.

Learning to trade and to make a profit is a given and it is desired by everyone. The more you learn and understand how trading works, the greater the level of profit that will be generated.
In addition to trading, you can also become an investor for the long and medium term, because by buying at the bottom and holding until the price is higher it will generate a fairly young profit, but it is necessary to be patient and sell when the target is reached.

maydna

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So far, many people have tried to trade to make a profit, which has made them continue to learn about trading, including improving their ability to analyze the market. You must have analytical skills in trading to get time to trade.

Passive income means you can earn without doing anything. Meanwhile, in trading, you have to analyze a lot of coins and find the right one to make a profit. So trading is not a way to earn passive income but to make profits. But you can buy bitcoins, store them, and sell them at the highest price to make a profit.

xSkylarx

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Trading is not a passive income; you really need to do a lot of hard work and patience on it, and you also need to keep explaining only the good sides of trading, i.e., the testimony of others that make a living on it, to which you are blind to what they have been through just to get where they are. You should also see the bad sides of it, or you will learn from experience. Trading isn't easy, and it isn't that simple like buy low, sell high." There are a lot of aspects to it, but try to learn them first before jumping to the conclusion that you'll continue or not.

Bitcoin_people

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If you want to gain better knowledge about cryptocurrency trading then you can definitely check out the various sections of the forum where this is discussed. But if you have confidence in the investment then surely you will be able to earn profit. Especially since you are a new investor, you should first consider the market position in detail. And if you want to invest for this long period then you can earn good profit in future. But if you want to earn daily profit then you must join trading. You can get good profit by trading daily but it depends on your skill and experience. so if you want to earn profit by trading continuously then you must first gain experience and then invest.

lombok

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Quote from: Prestongold on May 05, 2023, 09:19:57 AM

At this level, I am well informed about Bitcoin and its securities, I have read on the forum how Bitcoin and cryptocurrency trading has changed people's lives, and I am kind of interested in acquiring skills, I have read in many other threads on how risky Bitcoin trading is.

But at this point, I will really like to know whether or not Bitcoin trading is a means to gain profits during market speculations, and how possible it is to make passive income through cryptocurrency trading.

Sorry if you are going to trade because you are affected by someone's results and that becomes your ambition to make quick money under the pretext of passive income. Damn it, man. Fix your mindset first so that emotions don't affect your trading!

Do trial error with small capital first. The Trading of crypto is not as beautiful as you might think.

TimeTeller

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Quote from: Stable090 on May 06, 2023, 04:24:30 PM

Quote from: Prestongold on May 05, 2023, 09:19:57 AM

At this level, I am well informed about Bitcoin and its securities, I have read on the forum how Bitcoin and cryptocurrency trading has changed people's lives, and I am kind of interested in acquiring skills, I have read in many other threads on how risky Bitcoin trading is.

But at this point, I will really like to know whether or not Bitcoin trading is a means to gain profits during market speculations, and how possible it is to make passive income through cryptocurrency trading.

I think you should change your mentality completely before going into trading, if you have the mentality of making money in cryptocurrency trading, then you will end up losing money because you don’t have the appropriate knowledge to make money in trading. In trading their is always profits and lose, so you shouldn’t think you will be making money always, you will also lose money also, but make sure your profits is just more than the amount you are losing.

I will advice you to go and read some books about trading, watch some tutorials about trading( actually YouTube videos will deceive you, because they are always talking about profit and they don’t talk about lose, so most people are always deceived), you can also try demo account, then finally you can deposit just little amount of money then you can start trading with it, but in trading nobody will assure you of profit.

Experience will teach him that crypto trading is not all profits.
Reading may come in handy but actual trading is the best to grasp this market.
He needs to start small so he will lose small. Start trading with top alts.
At least, you know they won't disappear in the trading market anytime soon.
No one can guarantee passive income nor profits in every trade even with bitcoin.
Because it depends on your entry and exit level. Just sell above your buying price.
But that is hard if you start seeing the coin is going downhill and you are in panic mode.
Hence, the popular motto here - "invest only what you can afford to lose".
And this is why experience will give him those trading tricks. And it is not an overnight lesson.

taufik123

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Always expecting profits at the beginning without knowledge is only wishful thinking.
Before thinking about profits it is better to learn first what is needed at the time of trading.

Knowledge of technical analysis is very important. One will not get passive profits without knowing technical analysis and fundamentals.
No matter how much money you have if you don't know how to manage your trading properly, you can never make a profit.

There is no get-rich-quick scheme in crypto, everything requires a process.
Who can go through the process well and know the science of trading gradually the possibility of getting profits is getting higher, but losses are also things that will happen to all traders even though he is a professional in trading.

Quote from: Stable090 on May 06, 2023, 04:24:30 PM

-snip-
I will advice you to go and read some books about trading, watch some tutorials about trading( actually YouTube videos will deceive you, because they are always talking about profit and they don’t talk about lose, so most people are always deceived), you can also try demo account, then finally you can deposit just little amount of money then you can start trading with it, but in trading nobody will assure you of profit.

It depends on what video you are following. If some of the trading tips will not be deceptive because some of the tools used can be learned by anyone.
I see a lot of trading tutorials on youtube to originate my trading analysis skills.

What needs to be avoided is the advice of some influencers who provide unclear coin recommendations.
They will only take advantage of their followers to continue to buy what they suggest.

Stable090

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Quote from: Prestongold on May 05, 2023, 09:19:57 AM

At this level, I am well informed about Bitcoin and its securities, I have read on the forum how Bitcoin and cryptocurrency trading has changed people's lives, and I am kind of interested in acquiring skills, I have read in many other threads on how risky Bitcoin trading is.

But at this point, I will really like to know whether or not Bitcoin trading is a means to gain profits during market speculations, and how possible it is to make passive income through cryptocurrency trading.

I think you should change your mentality completely before going into trading, if you have the mentality of making money in cryptocurrency trading, then you will end up losing money because you don’t have the appropriate knowledge to make money in trading. In trading their is always profits and lose, so you shouldn’t think you will be making money always, you will also lose money also, but make sure your profits is just more than the amount you are losing.

I will advice you to go and read some books about trading, watch some tutorials about trading( actually YouTube videos will deceive you, because they are always talking about profit and they don’t talk about lose, so most people are always deceived), you can also try demo account, then finally you can deposit just little amount of money then you can start trading with it, but in trading nobody will assure you of profit.

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Quote from: Prestongold on May 05, 2023, 09:19:57 AM

But at this point, I will really like to know whether or not Bitcoin trading is a means to gain profits during market speculations,

You don't make a profit in Bitcoin trading during market speculation, the result you get after you successfully executed a trade is what will tell if you make profit or lost.

Quote from: Prestongold on May 05, 2023, 09:19:57 AM

and how possible it is to make passive income through cryptocurrency trading.

You cant make passive income through crypto trading, loss, and profit can happen anytime. If you want passive income the best way is to stake a good proof-of-stake crypto

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Quote from: isaac_clarke22 on May 06, 2023, 03:07:26 PM

I highly doubt that most traders do earn from trading Bitcoin. Considering how volatile the market is and how long Bitcoin already existed and continue to get new ATH every year, I think they are way more hodlers than traders. I cannot say the same for trader of alts though.

That is correct, but do you doubt that some traders who are well experienced in trading make profits? If it was really less profitable for some esteem traders, they would really advise against it. Despite the fact that some don't make much profit out of it, there are people making profit, bro (maybe not many). I also agree that there are more holders of Bitcoin than traders.

Quote

Adding up to what you said, if you don't have a capital to start, virtual trading might be a good thing to start, but it could build up bad habits since you're not "feeling the loss of money".

I'm really hearing about virtual trading for the first time, though. I googled about it, and I see that it doesn't have to do with investing real money, and when it doesn't require real money, it means there is no profit coming out of it, so what's the essence? (I would appreciate if you talk about it, that's if you are more familiar with it.)

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You can trade bitcoin but it's not going to be passive income. As long as you have to put some time and effort into it, it becomes active, not passive.
So, you're probably wondering what's the difference between active and passive income. Passive income is when money comes to your account without you having to do anything. A good example of such thing is renting out a property for long term. Often people have space that they rent out to a company, sometimes it's a bank, or a store. The business often strikes a deal that will continue for years and you will keep getting paychecks.

Holding bitcoin might be passive, but is it a passive income? You are passive, but you cannot be sure there will be an income in a given period of time. Let's say you bought bitcoin in 2021 at 50k, so not the ATH, you did not pick the worst time to buy. You held through 2022 and it's now 2023 and you haven't generated any income. You still have the same amount of bitcoin, but it's not giving you any profit. If this was the income you relied on, you'd be starving right now.

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Quote from: Prestongold on May 05, 2023, 09:19:57 AM

At this level, I am well informed about Bitcoin and its securities, I have read on the forum how Bitcoin and cryptocurrency trading has changed people's lives, and I am kind of interested in acquiring skills, I have read in many other threads on how risky Bitcoin trading is.

But at this point, I will really like to know whether or not Bitcoin trading is a means to gain profits during market speculations, and how possible it is to make passive income through cryptocurrency trading.

Take all those stores with a grain of salt, OP. You never know what kind of struggles they went through and what's real or not in the stories you read around here. The reality in crypto trading is that..... it is really meant for everybody and that is perfectly fine. I tried trading before and it isn't just for me at all so I went back to hodling.

It is indeed risky that's why you should just try few bucks first and see if you think you could continue to persevere despite the losses that you'll encounter for a week or even a month depending on how fast can you learn trading. For me, it ain't just worth it at all for me considering I am already exhausted in the first month.

Quote from: Dr.Bitcoin_Strange on May 06, 2023, 02:37:00 PM

It's very possible to make a profit from trading Bitcoin, but it's also a way to lose money when you are very new at it. I think most crypto traders earn enough money trading Bitcoin, but as a beginner, seeing crypto trading as a means of earning passive income may be futile. In trading, you will definitely encounter losses, and if you don't have enough capital to start with, you may still need to top up your capital. But whereas if you have a real job, you can just use crypto trading as a side hustle until you have mastered your trading skills and are fully convinced you are making a good profit from trading Bitcoin, then you can totally focus on it as your passive source of income, but that doesn't mean you must not have other sources of income as well.

I highly doubt that most traders do earn from trading Bitcoin. Considering how volatile the market is and how long Bitcoin already existed and continue to get new ATH every year, I think they are way more hodlers than traders. I cannot say the same for trader of alts though.

Adding up to what you said, if you don't have a capital to start, virtual trading might be a good thing to start, but it could build up bad habits since you're not "feeling the loss of money".

Dr.Bitcoin_Strange

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Quote from: Prestongold on May 05, 2023, 09:19:57 AM

I will really like to know whether or not Bitcoin trading is a means to gain profits during market speculations, and how possible it is to make passive income through cryptocurrency trading.

It's very possible to make a profit from trading Bitcoin, but it's also a way to lose money when you are very new at it. I think most crypto traders earn enough money trading Bitcoin, but as a beginner, seeing crypto trading as a means of earning passive income may be futile. In trading, you will definitely encounter losses, and if you don't have enough capital to start with, you may still need to top up your capital. But whereas if you have a real job, you can just use crypto trading as a side hustle until you have mastered your trading skills and are fully convinced you are making a good profit from trading Bitcoin, then you can totally focus on it as your passive source of income, but that doesn't mean you must not have other sources of income as well.

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Quote from: DevilSlayer on May 05, 2023, 11:40:32 PM

Quote from: Stalker22 on May 05, 2023, 06:13:39 PM

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It is called "portfolio income" wherein, you gain profits through price appreciation meaning that if you will earn if a certain assets that you hold increase its market value.

Yes, I believe the term commonly used in the cryptocurrency world is "HODLing". It is related to cryptocurrency investment rather than trading. While trading involves actively buying and selling assets with the intention of making a profit from short-term price fluctuations, HODLing refers to the strategy of holding onto an investment for a longer period with the expectation of long-term price appreciation.

Quote from: DevilSlayer on May 05, 2023, 11:40:32 PM

I do not agree that you will get sure rich if you put money on cryptocurrency, kindly look the majority of the investors and trader in this industry; most of them are LOSERS and they keep losing more money because they do not have enough knowledge and experience that they can use in order to make profit in this market. The problem is that those newbies are impatient to make money, that is why they putting their hard earned money on some shitcoins that can make them incur huge losses wherein they will regret and doubt theirselvles.
~

Absolutely! That was just my pitiful effort to inject some sarcasm. Cheesy

Topic: A nob in trading needs help - page 4. (Read 678 times)