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Topic: Before Trading Bitcoin you should... - page 8. (Read 1323 times)

hero member
Activity: 574
Merit: 554
Leading Crypto Sports Betting & Casino Platform
May 03, 2024, 08:16:25 AM
#3
Do not forget that you should always risk what you can afford to lose.
All that you have said is important before one should consider going into Bitcoin trading. When individuals go into trading without a background knowledge of the market, it normally ends in losses and regrets. The first thing is to take time and learn about trading before putting in money. And newbie traders are also advised to start trading with little money since they might make some mistakes that might to losses.

Some traders do it as a full-time job because they have become professionals in the business. It will be risky to resign from work to become a trader when you are not sure that it could replace your job financially. It will be safer to venture into trading on a part-time basis until you are sure that it could be your main source of revenue.

There have been cases of people selling properties or taking loans as trading capital. This action should be discouraged because trading is highly risky. It is better to invest what you can afford to lose or what you can live without.
legendary
Activity: 1106
Merit: 1124
Wheel of Whales 🐳
May 03, 2024, 08:06:09 AM
#2
This has been said so many times in this forum, i am not sure if it warrants a new thread on this same matter, but...yeah.
Do not quit your job if you have one until you have become very profitable in bitcoin trading.
Even if you manage to get the knowledge of trading and start making some money from it, it still isn't enough reason for you to quit your job. You cannot be certain of making money continuously from trading, but if you have a job, you can be almost certain you'll get your salary at the end of every month, except you get fired.
newbie
Activity: 11
Merit: 1
May 03, 2024, 07:54:04 AM
#1
 A lot of mistakes people make a lot is going into bitcoin trading without any steady source of income. While it is true that  bitcoin trading can change your life for good, you should also know know that it could also wreck you. First get enough knowledge, make sure you are working as this will help you fund your trading accounts. Only trade what you can afford to lose.

Do not also invest your life savings into bitcoin trading. this will hinder your trading capabilities as you will be trading with emotions and fear of losing your money. Trading is best done without emotions attached this will allow you make decisions better.

Do not quit your job if you have one until you have become very profitable in bitcoin trading. The market can become very unpredictable and you can lose funds, so for you not to go bankrupt you should be very profitable before you quit you job or any other source of income you have.

Do not forget that you should always risk what you can afford to lose.
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