For newbies and plebs who want to self-study to become "traders"

Bushdark

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Quote from: Bitcoin_people on August 12, 2023, 08:58:02 AM

Those who go for advice on various social media for business will definitely lose money if they take that advice. There are many videos that give business advice but most of them are not successful in that business. So I think all the people who notice such tips and decide to trade according to their suggestions are definitely wrong. If you start a business according to the advice of these people, you will definitely lose money, so you should take good advice. But the advice given by those who have succeeded in their business should be followed in order to be successful. Investing in crypto and holding it will be profitable for future so should continue such efforts then good capital can be generated in future.

It is very wrong well we also go to the internet to look for business advise when we can easily look into the environment and create a business ideas that can help our in the future as a business owner or enthusiastic.
The are many fake advises in the internet and simeti6we might end up losing so much money because the person giving out the advise might not even have there own business but want to look popular as a business or project adviser.
The location we want to do business is a very important factor for us to consider to become profitable in the market.

kamvreto

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Quote from: jaberwock on August 15, 2023, 11:50:51 AM

Quote from: beerlover on August 01, 2023, 06:53:39 AM

Quote from: wxa7115 on July 30, 2023, 11:35:04 PM

There are only two ways to judge our trading performance which go hand in hand, the first one is the money in our pockets, if at the end of our trading session we have more money than when we begun then this is a good sign, as people should trade for only one reason and that is to make money.

The second criteria we need to use is the process which allowed to get those profits, after all if those profits come from a fortunate movement of the markets that saved us from losing money then we did something wrong and as such those results are not repeatable, however if those profits came from a deep analysis of the markets and we have backtested our strategy many times and those results fit what we can expect out of it, then we are doing things the right way and can expect more sessions like that on the future.

The second part is very important, there are a lot of people who made a wrong move but they were lucky that the price of that thing didn't go down, and even went up, they think they did something right. Unfortunately they repeat the same wrong thing because initially it made them a profit, and then they realize that it is not going the way they want it to go and they end up losing money because of it.

I hope that it gets better eventually but when it does, I also believe that it is going to cause a lot of people to realize their mistakes. Newbies need to make sure that they learn how to do it the right way, if they do then they are going to end up making a decent amount of profit without a doubt and should return with a profit.

I understand the fear that making a big mistake would be terrible and you would lose money. But the reality is that there has been a lot of people who made a mistake and still earned, and a lot of people who took a risk and earned a lot of money from it as well.

It's only fair that they earn a lot of money because the risks they take are high. People who make mistakes don't always lose, they keep trying until they can make enough money to make up for their past losses. Big risks lead to big returns too. If beginners continue to apply that, they will be rewarded. Dare to take risks, then they deserve to get the benefits. but make sure all the risks can be controlled, do not try big risks without qualified knowledge, all require good initial knowledge.

jaberwock

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Quote from: beerlover on August 01, 2023, 06:53:39 AM

Quote from: wxa7115 on July 30, 2023, 11:35:04 PM

There are only two ways to judge our trading performance which go hand in hand, the first one is the money in our pockets, if at the end of our trading session we have more money than when we begun then this is a good sign, as people should trade for only one reason and that is to make money.

The second criteria we need to use is the process which allowed to get those profits, after all if those profits come from a fortunate movement of the markets that saved us from losing money then we did something wrong and as such those results are not repeatable, however if those profits came from a deep analysis of the markets and we have backtested our strategy many times and those results fit what we can expect out of it, then we are doing things the right way and can expect more sessions like that on the future.

The second part is very important, there are a lot of people who made a wrong move but they were lucky that the price of that thing didn't go down, and even went up, they think they did something right. Unfortunately they repeat the same wrong thing because initially it made them a profit, and then they realize that it is not going the way they want it to go and they end up losing money because of it.

I hope that it gets better eventually but when it does, I also believe that it is going to cause a lot of people to realize their mistakes. Newbies need to make sure that they learn how to do it the right way, if they do then they are going to end up making a decent amount of profit without a doubt and should return with a profit.

I understand the fear that making a big mistake would be terrible and you would lose money. But the reality is that there has been a lot of people who made a mistake and still earned, and a lot of people who took a risk and earned a lot of money from it as well.

This is why you should be trying to do a bit better, you may not end up seeing the results be good in the end, but if you could put aside even just a tiny bit of money to make a profit, that would be quite good. Otherwise you are going to be safe all your life but you are not going to get any bigger neither, or not that fast at least. I hope that it could get to a point where we would all be investing mostly into bitcoin, and make right trades, but also use just a little bit of it on smaller stuff.

Huppercase

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Quote from: Wind_FURY on August 07, 2023, 09:51:29 AM

There's truly nothing wrong with writing a book, a guide, or any investment material as long as the writer is honest with his/her audience. There's also nothing wrong with shilling referral links as long as the person doesn't "market" himself like he did in this screenshot. Haha.
Twitter is starting to include "for context" information in tweets.

If there is anything new I find interesting about Twitter/X, it's going to be context information to stop the lies they spread on that platform. A boy of your age or less than your age will wake up.and decide to post fake information just to belittle your effort or make you feel less of what you have achieved in life, no wonder they say traders who boast are not really traders, they have one or two things they do that they don't share to the public; in crypto for instance, they shill coins to newbies using their influence and sell at the top.

Trading lies in the experience than the book, I have used more of time in practicing trading than reading the chunk of PDF's ebooks I have on my phone, I get it fast when I do it myself but using experimental virtual money, not my funds but they are all in real time which make it so real but the difference is only the funds, the loss and the profits are not yours but it's worth the experience than reading the books.

Oshosondy

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Gamble responsibly

Quote from: palle11 on August 10, 2023, 08:48:46 AM

Hodling could be better for plebs or newbies who are scared to take in the challenge. A trader doesn't prefer to continue hodling, he wants to go in for the instant multiplier. But like you said for hodling, I believe bitcoin is better for it.

I am just talking from experience. What you have experienced may not be the same I experienced. I prefer to trade, but if I had hold 70% bitcoin and 30% altcoins instead, I would have been richer far more than I am today. I trade but as I am making profit, I lost also. Yet trading requires more time, more effort, but holding would have been more productive for me which is still a way of making passive income, unlike trading.

mvdheuvel1983

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Quote from: Wind_FURY on July 24, 2023, 04:27:16 AM

My advice - BE CAREFUL

Investment and trading books, articles and videos are made by people who might not actually be winning traders. They make their money by writing "investment materials" and sell it to us, the plebs.

Good advice. As plebs we should also add so-called YouTube trading gurus, social media influencers trading gurus to the list to of investment materials we should be careful about consuming. Most of them repeat common concepts like technical indicators and patterns. They are not real traders. They are thriving on brand sponsorships and YouTube views. If you follow watch a couple of their videos or listen to them long enough you would see a pattern of them emphasizing certain strategies or ideas to attract readers or viewers, which might not necessarily align with successful real-world trading practices.

Bitcoin_people

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Those who go for advice on various social media for business will definitely lose money if they take that advice. There are many videos that give business advice but most of them are not successful in that business. So I think all the people who notice such tips and decide to trade according to their suggestions are definitely wrong. If you start a business according to the advice of these people, you will definitely lose money, so you should take good advice. But the advice given by those who have succeeded in their business should be followed in order to be successful. Investing in crypto and holding it will be profitable for future so should continue such efforts then good capital can be generated in future.

xSkylarx

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Quote from: Litzki1990 on August 10, 2023, 11:38:22 AM

Humans may be innately vulnerable to short-term income. When people are shown the opportunity to earn a lot of money in a short way, people choose the method of how to earn money in a short way without thinking about what kind of problems there may be in making money in a short way. This is a great opportunity for fraudsters to cheat. If people didn't believe so easily and look for ways to get rich so easily, there would be less fraud in the wicked world. We must be careful that we never fall into the trap of get-rich-quick scammers. Instead of thinking about getting rich overnight, we can think long term, such as investing in Bitcoin for the long term and holding it for a long time. If we can think this way, we will be much less deceived.

This is where people who instantly earn profit got baited. Just imagine someone just telling you to join a signal group on their Telegram channel and pay, then you'll no need to learn trading as they provide entries on you. So those newbies that really want to earn immediately got baited on that and then they lost money, or even those HYIPs, and still a lot of people right now are getting scammed as they want to earn in a passive way.

Bako97

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Quote from: Wind_FURY on July 24, 2023, 07:28:49 AM

Quote from: Wiwo on July 24, 2023, 06:41:39 AM

Trading is like gambling

and a leveraged gamble at that if you, as the entrepreneur, are using borrowed/loaned money.

I did leveraging some years back, i borrowed money to invest into crypto currency, ignoring the rules of "don't borrow money to invest"i lose all the money in the long run, that moment i realise that crypto is indeed "gambling".

Hamphser

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Quote from: rozak on August 10, 2023, 02:57:13 AM

Quote from: gunhell16 on August 10, 2023, 02:38:50 AM

That's why it is very important to learn crypto trading first before trying to make money from it, this is the important thing that beginners who enter the industry like this should understand. It is not easy to understand. And it's not because you know the basic that there is something to be gained from having an understanding of trading tools is the basis to earn big in trading activity.

We still really need to know how to use trading tools correctly, especially reading the charts of different crypto exchanges in this business.

and it can not be understood in a short time. it takes time and also experience to be able to understand how traders can benefit. it's not as easy as buying cheap and selling expensive.
novice traders at least need some initial capital which can be lost in the process of learning to trade. no problem with that, therefore always use small capital.
what's becoming a lot of trouble nowadays is that many novice traders follow streamers for their trades. to follow understanding in trading, it is not a problem. but when following the given signal, more will not be accurate. or even streamers also suggest copy trading.

This is why it would really be always that recommendable or suggestable that you should really make use of the amount which it would really be just that small on the time that you would really be starting up and wont really be that tending to make use of huge amount because we are really likely to lose up money on our first tries on which it would really be just that normal. On the time that we do make out decisions that
we do tend to do trades or trying out to learn then always be having that realistic approach on which you arent making yourself that delusional towards trading. Never ever make yourself that having those impressions that it would really be that something that will really be that so easy for you to be able to learn.

Everything of information could really be searched up on the internet, it would really just that a matter of time and effort that you would really be applying into. Just go with that kind of path and
slowly making up yourself do able to learn. Just done rush up things around.

Oshosondy

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Gamble responsibly

Quote from: palle11 on August 10, 2023, 08:48:46 AM

Quote from: Oshosondy on July 24, 2023, 04:35:47 AM

It is good to be patient, holding could be better.

Hodling could be better for plebs or newbies who are scared to take in the challenge. A trader doesn't prefer to continue hodling, he wants to go in for the instant multiplier. But like you said for hodling, I believe bitcoin is better for it.

Some people learn how to trade but later regret it and either become a swing trader or become a holder later. People that hold coins like bitcoin are more likely to make profit. Most traders lose than making profit. Some traders were not scared but trade and lost and continue to lose and become addicted but later quit trading after noticing that they are addicted.

Quote from: Kasabus on August 07, 2023, 04:53:49 PM

The money in trading never get exhausted, meaning any time you get in rightly, you will be able to make your own profit.

Money in trading can never be exhausted? It depends on the leverage that the trader used. Even a trader that go 1x long on some altcoins can get liquidated after the coin increase 2x in short time. This is common to altcoins. Traders can not always get trading rightly, that is not possible. But the strategy used should be able to turn almost every position opened into profit.

Litzki1990

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Humans may be innately vulnerable to short-term income. When people are shown the opportunity to earn a lot of money in a short way, people choose the method of how to earn money in a short way without thinking about what kind of problems there may be in making money in a short way. This is a great opportunity for fraudsters to cheat. If people didn't believe so easily and look for ways to get rich so easily, there would be less fraud in the wicked world. We must be careful that we never fall into the trap of get-rich-quick scammers. Instead of thinking about getting rich overnight, we can think long term, such as investing in Bitcoin for the long term and holding it for a long time. If we can think this way, we will be much less deceived.

Wind_FURY

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Quote from: Vaculin on August 08, 2023, 05:12:54 PM

Perhaps the best advice of all time. Trading is never easy so one should learn it carefully and with high caution knowing its a high risk activity, that anyone can ultimately lose everything he has if he trade instantly without knowledge and honed skills. Also, with the presence of crypto influencers all over online, be careful not to fall for those fake traders impersonators as they can be anyone’s nightmare once a trader easily believe and instantly lose everything all his money.

Nothing that involves risking your own capital to make consistent profit from a high-volatile market truly is. For plebs like us, we can't out-trade the professional traders and their army of trading bots, and they are well-capitalized. They can solvent longer than we can. We'll have better financial expectations if we take a long term investment viewpoint.

Plus other "Investment Gurus" to avoid - Those who use "Doom and Gloom" to market themselves.

palle11

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Quote from: Oshosondy on July 24, 2023, 04:35:47 AM

It is good to be patient, holding could be better.

Hodling could be better for plebs or newbies who are scared to take in the challenge. A trader doesn't prefer to continue hodling, he wants to go in for the instant multiplier. But like you said for hodling, I believe bitcoin is better for it.

Quote from: Kasabus on August 07, 2023, 04:53:49 PM

Not only for those who are self-learning but even to those who rely on others to learn trading, at they should still be careful and slowly assess their learning. Otherwise, they will believe in wrong information that was being fed to them, and apply those in their trades that will eventually mess their trades and end up very unprofitable. That’s why be cautious in every trade attempts, especially that it’s hard to predict what’s going to happen in a very changeable market.

A trader need to have their own strategy so that if an information is coming to him from another source, he could analyse it and get to relate it to his own trade pattern. We don't need to accept every trade order or suggestion without tasting with what we know. Don't trade blindly but be wise to be patient and confirm the trend before jumping in. The money in trading never get exhausted, meaning any time you get in rightly, you will be able to make your own profit.

rozak

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★Bitvest.io★ Play Plinko or Invest!

Quote from: gunhell16 on August 10, 2023, 02:38:50 AM

That's why it is very important to learn crypto trading first before trying to make money from it, this is the important thing that beginners who enter the industry like this should understand. It is not easy to understand. And it's not because you know the basic that there is something to be gained from having an understanding of trading tools is the basis to earn big in trading activity.

We still really need to know how to use trading tools correctly, especially reading the charts of different crypto exchanges in this business.

and it can not be understood in a short time. it takes time and also experience to be able to understand how traders can benefit. it's not as easy as buying cheap and selling expensive.
novice traders at least need some initial capital which can be lost in the process of learning to trade. no problem with that, therefore always use small capital.
what's becoming a lot of trouble nowadays is that many novice traders follow streamers for their trades. to follow understanding in trading, it is not a problem. but when following the given signal, more will not be accurate. or even streamers also suggest copy trading.

gunhell16

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That's why it is very important to learn crypto trading first before trying to make money from it, this is the important thing that beginners who enter the industry like this should understand. It is not easy to understand. And it's not because you know the basic that there is something to be gained from having an understanding of trading tools is the basis to earn big in trading activity.

We still really need to know how to use trading tools correctly, especially reading the charts of different crypto exchanges in this business.

SharonC

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Quote from: Wind_FURY on July 24, 2023, 04:27:16 AM

My advice - BE CAREFUL

Investment and trading books, articles and videos are made by people who might not actually be winning traders. They make their money by writing "investment materials" and sell it to us, the plebs.

Plus "as traders", most of you will lose money and leave. Some of you might return and lose more money. Some might have learned their lesson the hard way and just HODL Bitcoin. The few who actually put in the most time, effort and who are well-capitalized might make it.

Ah, I wish I saw this earlier. I used to watch "traders" on YouTube and literally waste all the money I invested. The only thing that helped me was my experience that I gained with time and ability to analyse the market.

GeorgeJohn

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"Play Poker on Telegram"

Quote from: Wind_FURY on July 24, 2023, 04:27:16 AM

My advice - BE CAREFUL

Investment and trading books, articles and videos are made by people who might not actually be winning traders. They make their money by writing "investment materials" and sell it to us, the plebs.

Plus "as traders", most of you will lose money and leave. Some of you might return and lose more money. Some might have learned their lesson the hard way and just HODL Bitcoin. The few who actually put in the most time, effort and who are well-capitalized might make it.

In the aspect of trading and losing of money its real that you will lose money and losing of money do occur when you have not understand the basics of trading and investment, when you invest and lose you don't need of recovery what you have achieved, what I noticed in trading is that you have learn and understand the future of trading before you runs into trading because pushing the lose you made in order to recover will make you to loss more.

Vaculin

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Perhaps the best advice of all time. Trading is never easy so one should learn it carefully and with high caution knowing its a high risk activity, that anyone can ultimately lose everything he has if he trade instantly without knowledge and honed skills. Also, with the presence of crypto influencers all over online, be careful not to fall for those fake traders impersonators as they can be anyone’s nightmare once a trader easily believe and instantly lose everything all his money.

Mahanton

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Quote from: Aanuoluwatofunmi on August 08, 2023, 03:37:33 PM

Quote from: Cling18 on August 04, 2023, 05:35:47 PM

Quote from: justdimin on August 04, 2023, 02:36:35 PM

Quote from: macson on August 03, 2023, 06:45:04 AM

Quote from: Wind_FURY on July 24, 2023, 04:27:16 AM

My advice - BE CAREFUL

Investment and trading books, articles and videos are made by people who might not actually be winning traders. They make their money by writing "investment materials" and sell it to us, the plebs.

Plus "as traders", most of you will lose money and leave. Some of you might return and lose more money. Some might have learned their lesson the hard way and just HODL Bitcoin. The few who actually put in the most time, effort and who are well-capitalized might make it.

thanks to you for this topic, newbie traders have big expectations for trading, they come to make a lot of money but the majority of them just lose money and then leave, while those who persist definitely have a chance to become an experienced and even professional trader.

like a battlefield, trading activity is that, every trader must have good skills -> understand analysis techniques, fundamentals, economics, understand how to use trading tools, control emotions, not be lazy to keep learning is the basic foundation that must be owned by every both beginners and experienced traders ^{(this is an important thing that many professional traders have explained)}

It is definitely a battlefield, there will be buyers and sellers and they will fight each other to be the right one. Sellers will sell because they think it will go down, and if they sell and the price goes down afterwards that means they won that battle, the buyers are buying because they think they are going to make a profit and if they are right and the price goes up then they made that profit.

So long story short we are talking about a situation where it will be quite possible for people to make a profit like that. I understand it is going to take a while but it will be quite possible for us to just make it work. I believe it is not going to be that much of a problem if you lose a battle, because it is important to win the war instead.

Not everything that we see, read and watch are real and provide trusted and reliable source of information so we better be observant and keen not to be deceived by those who only want to make money and not to help beginners. As much as possible, we should do a research right after one research so we won't fall for deceptive traps.
Not because we're newbies, we will believe in hearsays and fake information. We should be skeptical in absorbing kowledge and legit information and we shouldn't be innocent victims of those who are just pretending to be pros.

That's true, we have to understand that not everyone that teaches know how to teach, also not everything we see online are true the same way the appear online, when we see anything offered to us, we shouldn't hesitate to conduct a research on them to know what others have on them, information should not be centralized or vested on one side, we need to seek for more ways to know how genuine and true they are from a verified source.

All matters on how someone would really be that mindful on the things that they've been dealing with on which there are people who dont really just care about its source or there are people who are really that skeptical
on the time that they would be reading up those informations or things whether online or been suggested by someone. Just like the rest been saying that everything could really be found online and its up to you whether you would really be making some research even more or would just directly believing on what those write up been telling since you do assume that those information are already that legit and valid and made up by some research but its true that not all would really be viable and something realistic when it comes to methods and suggested. There are those points which cant really be possibly be applied and if you arent really that
careful enough on trying out to absorb these things then it would might give out some negative impact towards your trading learning path or career.This is why we should really be having the sense on
assessing on what you are facing on.

Topic: For newbies and plebs who want to self-study to become "traders" (Read 749 times)