Topic: Does trading belongs to everyone? - page 14. (Read 2052 times)

The thing about the crypto market is that unlike other markets it is a lot easier to enter it. For example in case of stock market, gold market, forex, etc. you both have to have a bigger capital to enter (meaning you can't start trading with something like $10) and you usually have to go through a broker.

But when it comes to cryptocurrencies, the entry size is small and you can do it all on your own without that much hassle, specially in the past that there were far less KYC nonsense on exchanges.
For example on most altcoin exchanges the minimum trading volume is about 0.00010000BTC which is like $7 which is nothing.

There is of course the addition of massive rises that attracts people more! Imagine you can make a bet with 10 bucks and make a grand if you "win" that bet (ie. if the shitcoin got pumped big time). Who's not liking that?

But of course this is naïve thinking of people filled with greed. When they actually enter the market, they soon realize it is very hard to make profit consistently in a manipulated altcoin market where coins are only getting pumped and dumped.
When they losses start to get piled up, they get depressed and go away for good.

If you are trading but turn to holding, you will have risk of holding for loss.

Only luckiness can help you to gain from holding this way because mindset of a trader and mindset of a trader are different. If a trader does not use Stop loss order, holding a position for long time will cause loss, not profit. Except if that trader has a very lucky open position in a market that gives a random decision chances to get profit.

Trading is for everyone, but they have to learn trading first. It is not easy to have good trading skills because it requires a process.

Finding coins that can generate profits is difficult, and not many people can do it. But if they have analytical skills in trading, they can find the right coin. Most people rely on other people to buy their coins, making it difficult for them to make a profit.

When trading, they must also be able to find a trusted exchange so that they do not experience fraud. If you want to buy coins from other traders or P2P traders, you have to make sure the trader is trustworthy. Everything must be confirmed first to avoid fraud and also make a profit.

Sometimes we can be interested on something we have no idea about, but when we are determined to learn through the required process in doing such, we will make an achievement on such, any trader or potential one should go through the due process by acquiring the required skills, knowledge and understanding of how to trade, then start by little before they can grow their investment on trading, if someone finds this difficult, then they had better hodl and avoid trading in other not to lose money, holding over time will earn them income as well when the market surges.

Have read most people topic and comment especially the newbies and have noticed that they are always interested in trading more than holding, and of a true trading gives more profits from my own understanding that is why everyone wants to venture into trading. But have we also considered or remember that most of the compliant here is about trading scam or exchange scam. Since is as a cause of trying to fund their account to trade or either trying to withdraw funds from the exchange.

We can make it this way, look for a reliable coin, bitcoin or any other altcoin buy and hold. You can look out for the best wallet where to store your funds without any news about misplacing your seed phrase or private keys. It's not necessarily mean you must buy from exchange, get your self a good p2p provider I believe there are trusted p2p service providers whom you can send them fiat or any other coin in replacement of the coin you wants to hold, than involving yourself to an exchange for trade or buy coin at least to avoid us having different version of storyline.

If you think is not possible to deal with people on p2p trade, look out for those at your locality who is trusted and reliable then you can send your fiat and they s/he sends you the coin (must be reputable p2p trader), if the amount which you are trading is much why not half it and go by 20 percent of the total amount you want to trade, after which is confirmed you can then continue with another 20 percent by so doing you ends up accumulating enough volume of any coin you want to hold for long than as a newbie trader you get yourself into exchange or broker and got scammed.

Most times at the process of learning your trading you make money by holding and after you may have gain your bases then you can fund your account to continue your trading than trying to be in haste to make profits from trading, since everyone is on the move about trading you decided to follow that part with or without knowing trading is not for everyone. You have to discover your place in crypto-space if you noticed you aren't making progress in trading then divert to investment and, you must know the types of coin you will invest.

If this post doesn't suits here place call my notice to move it to another place you suggest that is more better.