Topic: A nob in trading needs help - page 5. (Read 678 times)

There is no doubt that crypto trading is risky but its up to you that how you manage these risk. Sometime you will get benefit and on other hand there will a time when you don't get any profit in return but will loss your money too so it refers to the fact that success and defeat are unpredictable you can face both of them anytime during trading. Sometimes people actives success at start and they initiates putting whole money into that token and it is their big mistake which should be avoided for success.

I need your point more emphasized or be specific. You said you were already well-informed about BTC and should have read something in the trading discussion already. It is possible, but you still need to work on the possible things you may encounter once you start trading. It's only sometimes going to be all profit; the best way to make sure you profit is by managing your risks.

It is possible as long as you are consistent. It's best to like to use a bot to do things consistently.

Trading isn't passive at all, so you understand the concept wrong.

Trading needs skills, knowledge, capital which is affordable to lose and when all these things combine with experience then you will understand the market better which will lead you to make profits.

Anyone can start trading with low capital as possible, let's say with $50 and jump into Binance then try to make atleast 10% in 1 month of period.

It's not that easy honestly. Also thinking of trading as a passive income is the biggest mistake you can do. It's not a passive income type. You'll have to be actively engaged in Cryptocurrencies every single day and be studying charts every day for many hours to get a regular income out of it. This is a big mistake to think this as a passive income which you can earn just by investing your money and forgetting about it. Go for HODLing instead if you want this type of income.

You can really make trading as a secondary source of income. But provided that, you need to also be careful about the risks involved in the market. Trading isn’t at all sure money. In trading the chances of losing money is equal that of winning money. If you can estimate the movement of the market then no one can stop you from getting profits. Regarding the acquisition of skills, then that will come along with experience and practice. I would suggest you to watch the market and observe it carefully for few days. Once you feel confident then only use real money in trading and trade in limit.

Why not, generating passive income with cryptocurrency trading is very possible, depending on how one does their trading strategy and how much money is invested.
It is indeed quite high risk, but for experienced traders, profits will be obtained on every market movement that occurs. only need to read and predict market prices, buy cheap and sell at high prices. quite simple but not that easy, psychology will be very played.

There are several ways that traders may use to generate passive income through bitcoin trading. One common method is "HODLing," which is holding onto cryptocurrencies for an extended length of time in the belief that their value would rise over time.

Another option is to generate passive income by staking or lending bitcoin. Holding bitcoin as collateral to safeguard the network and collecting rewards for verifying transactions is what staking is all about. Lending is the process of lending bitcoin to other traders in return for interest payments.

HODL is a passive way of investing on Bitcoin. But if you don't like that, then by means of having passive income is you'll need to put that on a wallet or exchange that will give you profit in form of APY.

I don't like to have it on exchanges because their rates are low and you're not sure of the safety of your Bitcoin there because you will not have the private keys.

Trading is hard, and that's an honest opinion for me and not everyone that trades are profiting from it.

Bitcoin trading is one of the riskiest ways of making money from the market, it isn't impossible to make profits but you first have to understand trading before you begin trading or you'll lose all your capital in just matter of days of trading. Why many newbie lose when trading is because they are looking for quick gains instead of having patience as they trade. If you learn very well, you'll make profits.

Trading isn't passive income but you can make passive income by participating in the commission program offers by the exchanges when you help introduced new traders to their platforms. Each exchanges has a referral page and their rules are different so visit the page of an exchange you want to use to understand better.

First of all welcome to bitcoin trading site.  Since you expressed an interest in learning about Bitcoin trading and wanted to gain experience, you can. But to gain a good understanding of trading, you must be patient. You need to understand the market conditions. At first these things may be very challenging for you but if you can accept this challenge then I think you will get success from trading site.  You already know about the risk in other threads. To succeed on the crypto platform you have to take risks. If you can take this trick and gain enough knowledge and experience about trading then surely you can earn good income from trading.

There's thing called paper trading, try to find one that you can access and you can easily practice trading there without the worry of losing real money but trading in a real market conditions, I think you should experience it first-hand since you are claiming that you're knowledgeable in crypto to some level.

On the one hand you are "well informed" about Bitcoin, and yet on the other hand you're actually asking how to acquire skills?

Theory = knowledge, that's what you seem to have. Skill = practice. The only way to gain skill is to do.

But be careful, Bitcoin changed a lot of lives not actually because of trading.

Trading changes lives for sure but not in the positive way you're thinking of...

Oh and Lol OP you really did sound like a nob the way you posted but anyway

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. 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.

If you want to make huge amount of money, forget buying cryptocurrencies or memecoins because what you need is to invest in your education first and forget the coins around you. For me there are steps on how can you become rich in trading, you cannot just put your money and hope that it can give you returns. A lot of successful traders and investors put a lot of effort and work for them to achieve what they have now. The misunderstanding is that people think they can easily make money by just putting their money and sitting like a dork without doing anything.

You can’t make any passive income when it comes to trading. Only way is perhaps buying a stock which pays a dividend but there is the issue of the stock itself going down in value and losing money.

But with crypto trading there is no dividend. If you hold certain coins like ETH you can stake those and earn a little yield but once again, the value of ETH can go down and you might lose money. There is risk in everything.

You asked a big and basic question and you will find many answers, but Google and YouTube will teach you a lot if you search well.
So reading books like Mastering Bitcoin, Rich Man and Poor Man, Richest Man in Babylon, Think and Get Rich or watching audio clips about them will give you basic knowledge.
Then you can start learning the basics of technical analysis, including how to trade.
All of this requires that you have a job and extra cash.

Oh absolutely, investing in cryptocurrencies is the surefire way to get rich quick without any effort at all. Just throw your money at the market and watch the profits roll in! 

But seriously, I cannot understand people who ask questions like this. What do you expect? Step-by-step instructions on how to make millions trading? And what do you mean by passive income from trading? If the profit comes from active trading then it cannot be called passive income, right?

You can make profit in any kind of market trends, either its down or up trend, it depends on the trader.
Also, i don't think there is so called passive income in trading, trading needs manual way to do things to make it possible.
Possible if you can refer users to register on specific trading platform using your link.

It is very possible to make profits off trading but you must also know that while it is very enticing to imagine the profits, you should also know  that nothing  is certain in trading, and just as you are expecting  to make some profits, so it is very much very possible  to make huge losses upto  having to blow account.
I would advice that you rather invest more in learning than in wanting  to make profits suddenly  and I also want to let you know that bitcoin is a very lucrative  business but it all depends  on how you do it  and how much of knowledge  and information  that we have.

Is it possible to make profits by trading bitcoin and other cryptocurrencies? Of course it is, is it easy to do so? Of course not, I will give you a 10% chance of succeeding, and that is if you actually go through the trouble of learning how to trade and study the market for months, but if you are like a lot of newbies out there and you just want to get profits and you want them now, then I will give you no chance at all of succeeding, this is because when it comes to trading knowledge is your best and at times your only weapon, and if you trade without that knowledge then that is as if you were fighting in a war completely disarmed.

Some people believe that we can earn our desired profit in trading in an instant, but the reality is that despite a large capital, we can't reach our target profit objective if we don't have the interest to learn all we need to succeed. Predictions are not always accurate. The actual problem of trading is dealing with market volatility and managing our emotions as a result of fluctuations. Discipline, which is required in trading, involves a lot of courage and determination. Don't rush things out and focus on gaining knowledge first.