Bitcoin: Understand how to use your coins - page 2.

Oshosondy

legendary

Activity: 1624

Merit: 1200

Gamble responsibly

Quote from: coupable on October 28, 2021, 06:58:29 PM

I wouldn't suggest "Trading Cryptocurrencies" to anybody.
Simple, we shouldn't encourage a non-productive activity

Crypo trading is highly risky, but also stock and forex are risky, all should not be suggested without warning and rules which are trading rules. One thing I know about this tyoe of high risk trading is that newbies like or do not like, the begining will be filled with losses and depression unless known already and avoid depression by using low amount of money, this is not resistant against losses but losing small amount of money that someone can lose and never think about it will not lead to depression, newbies must all know that, trading is not just easy to start, but with patience and practice, it can be productive, I am not saying leverage trading but just only trading without leverage.

Darker45

legendary

Activity: 2576

Merit: 1860

Supposing what you're saying is true, then you will indeed be a lesson learned among many newbies.

What I always don't understand is why a lot of newbies are involved in things they should not care about, at least pending familiarization of Bitcoin, its technologies, the market, and so on.

A newbie involved in trading, more so in margin trading, is like a one year-old kid playing with fire. What do you expect as a consequence? It's either the child gets hurt or the house gets burned, or probably both.

bitmover

legendary

Activity: 2352

Merit: 6089

bitcoindata.science

Quote from: helpmecryptocurrency on October 27, 2021, 12:33:31 PM

Because I didn't know how to use my coins.
It all started with discovering the futures market. High leverages!

Your coins are not supposed to be used like that only.

Bitcoin is a long term investment.

It is valuable because it provides a protection against inflation, and it is also a p2p cash system.

You should never put all your coins in a future market trading. You can do that to try to increment your position, but don't forget why bitcoin exists and why it is valuable.

coupable

hero member

Activity: 2338

Merit: 757

Sorry to read about your big loss Op. 150$K is a big money and i hope you can recover soon.
In fact, you are not the only one who think that cryptocurrncies are the fatest ways to get richer. This brought the whole cyptocurrency concept to be not more than an investment opportunity because of the wild price swings. And all those trading techniques are made by/for greeds who believe in easy money.
Some think that cryptocurrencies are just an instrument for trading and have no value in real. Honestly, i partially agree with this opinion.

Quote from: Oshosondy on October 27, 2021, 01:43:30 PM

Quote from: helpmecryptocurrency on October 27, 2021, 12:33:31 PM

It all started with discovering the futures market. High leverages!
That sounded interesting: Earn at high more than 10x more.

Even trading without leverage is risky, people especially new traders are losing daily, if to talk of leverage, the risk of losing is more, more people lose than gain in trading, then going for leverage trading will amplify the loss making losses to be greater in shorter time. For beginners, it is not good to trade at all, patience for months of learning, then months of experience with very low amount of money to start.

I wouldn't suggest "Trading Cryptocurrencies" to anybody.
Simple, we shouldn't encourage a non-productive activity

SatoPrincess

hero member

Activity: 966

Merit: 701

Leading Crypto Sports Betting & Casino Platform

That kind of money is not easy to come by. Sorry you lost that much. My friend lost money to forex investment scam he attempted suicide twice the amount he lost is no where near the money you lost. You're brave and courageous to continue bitcoin

Oceat

sr. member

Activity: 2506

Merit: 368

This is a common mistake to most newbies, it's not new because they are more greedier than the person who experienced failure already. Everyone has its own time to do their research but you choose to gamble instead of learning and the result is obvious. But the most important thing is that you learned your lesson already which is an advantage already to most newbies, now all you need is more study, practice and applying your knowledge in the market. Only if trading can be teach on school we won't be having any problems today, don't you think?

bL4nkcode

copper member

Activity: 2142

Merit: 1305

Limited in number. Limitless in potential.

If this was because leverage then you should know already the difference of it on spot trading, you could earn way more bigger than spot but it would be the same if you lose. Learning is required on to that before trying leverage imo. Sorry for the loss btw.

Smartvirus

legendary

Activity: 1554

Merit: 1139

Apparently, quick returns, high percentages and coin doubling is one of the oldest tricks in a scammers diary. Too bad people are still falling into this sort of trick. They call it an investment plan and once you get in, your left with nothing but regrets. You ought to be aware of the fact that, nothing comes easy, if it were to be so easy to double, triple or earn high percents on coins with a platform, I'm sure the platform won't have been looking or sourcing out for investors just to accumulate funds. Besides, what makes strange users feel so fortunate to have been met by these persons? Do you really aks yourself if your really that special on the Internet and why?
The inteent is shady and you must be aware and guilde what you've got.

Oshosondy

legendary

Activity: 1624

Merit: 1200

Gamble responsibly

Quote from: helpmecryptocurrency on October 27, 2021, 12:33:31 PM

It all started with discovering the futures market. High leverages!
That sounded interesting: Earn at high more than 10x more.

Even trading without leverage is risky, people especially new traders are losing daily, if to talk of leverage, the risk of losing is more, more people lose than gain in trading, then going for leverage trading will amplify the loss making losses to be greater in shorter time. For beginners, it is not good to trade at all, patience for months of learning, then months of experience with very low amount of money to start.

Going 10x is very risky, even expects can lose with this type of high leverage, high leverage is used in certain conditions when an expect would have analysed and speculate the price will never fall and buy or that the price will never rise beyond a specific price before it will start rising. Good to go for 2x for max but better to not leverage at all.

Porfirii

legendary

Activity: 1932

Merit: 2354

The Alliance Of Bitcointalk Translators - ENG>SPA

Quote from: helpmecryptocurrency on October 27, 2021, 12:33:31 PM

I lost about $150,000 for wanting to be faster than time itself. Don't be stupid like I was.

This

Sorry mate, I hope you didn't lose such a huge amount of money. I suppose that you wanted to go really big and gambled everything "on one card". Maybe if you won you would have lost it again by repositioning it (or not, but I would consolate myself with that).

Nobody teaches someone else's head, but I hope your experience serves other members so they don't fall in the same mistake as yours. Leveraging is gambling, and you can win a few times but if you keep gambling indefinitely you always lose.

helpmecryptocurrency

newbie

Activity: 2

Merit: 6

Hi everyone!
I really wish I had found this forum sooner.
I'm here to tell beginners: Beware.
I lost everything. All coins and all my savings.
Why?
Because I didn't know how to use my coins.
It all started with discovering the futures market. High leverages!
That sounded interesting: Earn at high more than 10x more.
Don't believe it.
I lost my coins because I wanted more than time could provide.
I wanted to be smart and I was the dumbest guy in the world.
Believe in spot, believe in your bitcoins And believe in the power of time.
I lost about $150,000 for wanting to be faster than time itself. Don't be stupid like I was.
Save your coins and have a decent future.
Thanks for reading.

Topic: Bitcoin: Understand how to use your coins - page 2. (Read 317 times)