DONT GIVE ME FISH | Bitcointalksearch.org

molsewid

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Quote from: Mkelgodson on October 03, 2022, 10:39:14 AM

A man who needs an assistance about wealth, once and never again, will initially turn down an offer of wealth, and insist on learning how to make it (wealth).

I am curious about higher returns on trade. I have heard about leverage and actually checked on YouTube for better explanation. I want to know how it works! I believe better explanation will be from those who have actually used it in their trade. Please!

I am not a pro but I think binance has it. Last year, I am super invested to futures. In futures, you can see the 2x, 10, 20x depending to the coin you are about to invest with. Isolated and Cross are available in there. In you are a beginner I would suggest isolated 10x just for you to try how does it works. Leverage is fun but it is quite risky than in spot.

South Park

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Quote from: Mkelgodson on October 03, 2022, 10:39:14 AM

A man who needs an assistance about wealth, once and never again, will initially turn down an offer of wealth, and insist on learning how to make it (wealth).

I am curious about higher returns on trade. I have heard about leverage and actually checked on YouTube for better explanation. I want to know how it works! I believe better explanation will be from those who have actually used it in their trade. Please!

Do not use leverage, you are not ready for it, this is probably not the advice you wanted to read but it is the correct one for someone like you that is still learning, I do not have stats on this but I am quite sure the three main reasons newbies lose their money are because of scammers, investing in shitcoins and using leverage in their trades, so you are asking for trouble if you use leverage when your level of knowledge and experience is so low.

DoublerHunter

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Quote from: Mkelgodson on October 03, 2022, 10:39:14 AM

I am curious about higher returns on trade. I have heard about leverage and actually checked on YouTube for better explanation. I want to know how it works! I believe better explanation will be from those who have actually used it in their trade. Please!

If you're just a newbie in crypto, I suggest that you stay away from leverage trading since it's very risky. It is true that it can give you huge amount of gains but its risk is also huge as well. You can easily lose all of your money in doing it when you're not knowledgeable. Even if you're equipped with some knowledge, the volatility of the crypto market can still liquidate your capital in an instant.

^It seems like gambling your money that puts a high risk or looking a high odds for a high reward.
That is exactly what I am going to say, never put your money in high-risk leverage trading because it will not have a 100% guarantee that you will earn profit. But I don't understand people that keep doing leverage trading and hoping that they will become instant millionaires on it. Though that is not bad to try but at least you must have a knowledge first on how to manage your fund.

Hamphser

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Quote from: jaberwock on October 05, 2022, 11:19:34 PM

Quote from: Mkelgodson on October 03, 2022, 10:39:14 AM

A man who needs an assistance about wealth, once and never again, will initially turn down an offer of wealth, and insist on learning how to make it (wealth).

I am curious about higher returns on trade. I have heard about leverage and actually checked on YouTube for better explanation. I want to know how it works! I believe better explanation will be from those who have actually used it in their trade. Please!

I thought you don't want a 'direct signals for buying/selling'? But, I understand what you acted here is similar to that. You are asking if there's a way on how to earn huge profits. First of all, there's no such thing as that. Trading is not a quick rich scheme but each traders work their way from the bottom to the top.

If there are someone who offers you a high return start then chances are they are only a scammer. You once said that it's better to insist learning in your own way, then you better start researching in your own and avoid asking for other's help. It's more beneficial because you can avoid to get scammed that way and then it can help you become a better trader.

Op should have the right mindset towards trading first before seeking right strategies and knowledge about the basics of trading. Seeing it as a quick rich scheme has a huge impact on his decisions which might affect his trading journey negatively.
You have to be mindful of trading risks first and be sure that you sre willing to deal with the possibility of losing. Others might suggest you strategies on how to fish but in trading, continuous research works. It's a long process of learning but you'll learn fast by trying it. Let your experience train you as you apply the knowledge that you're gaining through your research.

For the sake of awareness and learning up things about different types of trading system or options then it isnt really that a bad idea on asking out on the community on whats the difference between leverage,
futures,derivatives and so on.Yes, these information could really be learned up on just simply making up some research but not all do prefer on reading up those information and would rather just
prefer on hearing up peoples real time sentiment and opinions on this one.

@OP, 2nd post does really explain at all or precisely talks and mentioned the difference between and the similarities.There's no need for it to be
repeated.

jaberwock

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Quote from: Mkelgodson on October 03, 2022, 10:39:14 AM

A man who needs an assistance about wealth, once and never again, will initially turn down an offer of wealth, and insist on learning how to make it (wealth).

I am curious about higher returns on trade. I have heard about leverage and actually checked on YouTube for better explanation. I want to know how it works! I believe better explanation will be from those who have actually used it in their trade. Please!

I thought you don't want a 'direct signals for buying/selling'? But, I understand what you acted here is similar to that. You are asking if there's a way on how to earn huge profits. First of all, there's no such thing as that. Trading is not a quick rich scheme but each traders work their way from the bottom to the top.

If there are someone who offers you a high return start then chances are they are only a scammer. You once said that it's better to insist learning in your own way, then you better start researching in your own and avoid asking for other's help. It's more beneficial because you can avoid to get scammed that way and then it can help you become a better trader.

NicNacCoin

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You have mentioned the future trading platform here. All options must be considered while trading futures.The first thing to look at is leverage. First of all you need to notice how much your leverage is given and if it is given more then reduce it and if it is given less then increase it.But you can increase and decrease your amount depending on the labors.I see the first option as leverage.You can leverage from 1x-125x it is totally up to you.

milewilda

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Quote from: Mkelgodson on October 03, 2022, 10:39:14 AM

A man who needs an assistance about wealth, once and never again, will initially turn down an offer of wealth, and insist on learning how to make it (wealth).

I am curious about higher returns on trade. I have heard about leverage and actually checked on YouTube for better explanation. I want to know how it works! I believe better explanation will be from those who have actually used it in their trade. Please!

Leverage trading.
https://www.youtube.com/watch?v=BPnYtLiosBU

Futures
https://www.youtube.com/watch?v=Gh1n4acIagU

Video is much more better on at least on how its been done.
Tuts above and answers are accurate but its not bad to look at on these things.
Just need to bare up into your mind that having these kind of trades is very risk and this isnt something that recommendable for noobs.

gabbie2010

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Quote from: Ararbermas on October 04, 2022, 10:25:57 AM

leverage is a feature that can give you a good return in trading but at the same time can blow up your account immediately in just one mistake that's how i understand it and base on my experienced as well.. And how to use it? Well it's too hard to explain tbh but if I'm not mistaken there's are some site that can give you an answer how it really works especially to calculate losses and gains in every single trade with leverage..

It's obvious the OP had the mindset of trading to earn quick profits that was why the OP opted for leverage trading, yes the good side of leverage trading offers huge returns however, the bad side is rekting of funds in a jiffy, personally I had some sad experience with leverage trading having borrowed some USDT in my Binance trading platform in a bid to earn huge profits with just a little draw down of the price thus triggered a margin call thereafter liquidation, newbies are encouraged not to embark on leverage trading except such a newbie has vast experience and skills in trading which usually this comes with experience and plenty hours of charting analysis.

el kaka22

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I never really truly understood it. The idea of "do not give me fish, teach me how to fish" applies to only a situation where it would be good for a day. Meaning, I rather learn how to make money than earn 20 dollars for one day and that’s it, of course making money methods are better on long term than 20 dollars once.

But, if you give me wealth, like literally wealth, over 100k+ for my nation would be fine, then I would prefer that, do not teach me how to make a million dollars, give me a million dollars instead, I will handle the rest for sure. That is something people need to realize, teach me how to fish only applies to small amounts when you compare it, not huge amounts that can alter your life.

MainIbem

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Talking of trading, why not talk of investment as is more safer than trading, when you buy some volume of bitcoin or any other altcoin trust me or not in the next bull run you will do much appreciate it than trading.

ethereumhunter

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I do not recommend trying leverage trading without learning about spot trading first because leverage trading is riskier than spot trading. You will lose by holding or selling the coin if you buy it at a high price. But on the other hand, you can see that the loss will turn into a profit if the price increases again. But if you decide to sell it, you will lose.

While in leverage trading, once the price reverses direction, you will get a loss that you will receive. And only losses you get without any chance to make a profit because the trade you made is finished.

TheUltraElite

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Quote from: Mkelgodson on October 03, 2022, 10:39:14 AM

A man who needs an assistance about wealth, once and never again, will initially turn down an offer of wealth, and insist on learning how to make it (wealth).

It is not that easy as it sounds. Otherwise we would not have any poverty in this world.

Quote

I am curious about higher returns on trade. I have heard about leverage and actually checked on YouTube for better explanation. I want to know how it works! I believe better explanation will be from those who have actually used it in their trade. Please!

Leverage and margin are for seasoned traders. The replies made above, have explained how these work, but the only person making a profit off these trades will be the exchange and the youtuber whose affiliate link you clicked to sign up on the site, not you.

This is because any sort of trading other than spot trading is a type of gambling and here the luck becomes a more important factor than your skills. If you are serious about making money, first get a job, get some savings done and then allocate some fraction of your monthly income in to spot trading, starting with doing it on paper (dummy trading).

Ararbermas

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leverage is a feature that can give you a good return in trading but at the same time can blow up your account immediately in just one mistake that's how i understand it and base on my experienced as well.. And how to use it? Well it's too hard to explain tbh but if I'm not mistaken there's are some site that can give you an answer how it really works especially to calculate losses and gains in every single trade with leverage..

YOSHIE

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The title of your topic reminds me of the ancient chinese proverb, I mean the saying is just a parable more precisely like this.

Quote

"Giving a fishing rod is better than giving a fish".

I judge the behavior of the saying in my opinion applies only to certain places and conditions, meaning: in crypto trading you must really understand and study well, if you don't study well, your bait has no meaning in crypto trading, before you are given a fishing rod to get fish you need to study the conditions, circumstances and beliefs, whether there are fish or not.

Crypto is high risk, of course you have to really understand how to use the fishing rod, for that there are several discussions in this forum that many people discuss about how to make a profit in crypto trading.
Example:
• What advice will you give to a beginner trader?
• Cryptocurrency trading for beginners.
• How to overcome my fear and how to start trading?

Hope to be a good bait in the future.

palle11

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Quote from: adaseb on October 03, 2022, 10:22:03 PM

Most traders end up losing money and quitting.

This is the hard fact but you need to hold to it. You can be lucky to stay longer or maybe succeed if you have passion for it. You can only learn by yourself, the things written or watched doesn't really add up. Trade with what you have learnt but with very little amount to play around with because chances are that you are going to lose before you understand why you are losing. Use little leverage size and don't be greedy.

GreatArkansas

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Seems OP already got the meaning or how leveraged trading works.
Now, I can share is the risk management on trading especially when you are using leverage.

My suggestion is always to use risk management, here comes the risk:reward ratio where you need to identify first your trade size, stop loss, and price target. You must stick with your plan and become consistent because expect that there will be no always 100% win trades.

Always analyze if your trade size is worth the profits if your price target will hit versus your stop loss.

Capital preservation, leverage trading is very risky, if you are not sure with your trade, it's better not to trade, capital preservation is a must.

libert19

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Better than asking people for advise, start with $50, and leverage trade. You will learn better that way.

adaseb

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You will find that many of the people that are willing to teach you how to trade have no idea what they are doing. They are most likely doing it so you buy their product or signal service.

You can get an intro from some videos on YouTube but it’s up to you to make it all the way and be successful.
You will find that it’s not as easy as it seems and it might not be for you. Most traders end up losing money and quitting.

sheenshane

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For beginners, I heard isn't recommended to trade leverage trading, if they do there should be a limit.
Leveraging 1-2% of your total portfolio value might be advisable because they possibly lack knowledge in managing risk. This way you always have an option to cover your losses, remember always the amount that you can afford to lose.

Gaining profit in trading isn't that easy, even though in copy trading which you copied on expert traders like on the Etoro exchange platform but the chances of losing are still there.

blockman

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Start with the spot, I've seen those newbies that were very optimistic about it then have tried without going through the basics.
The end result, all of them got burned, got liquidated so quick. It's okay to get on leverage as long as you're already aware of it and you've experienced how it works. But as a start, you should just be cool and stay with the spot first and learn how the market goes through it because it's a good start and you'll apply what you've done there when you already start to get into futures.

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