How to get rich - page 4. | Bitcointalksearch.org

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Quote from: Sinancryp on May 11, 2024, 10:22:30 AM

Hi guys, I am 19 years old and know a lot about finance (ETFs, funds, crypto, stocks, commodities)
I have been Bitcoin swing trading for a year and I am still not profitable. I would like to be self-employed as an investor or trader after my IT education. Does trading really work in the long term to be profitable?

You have a good education, try to make money with it. I've said it many times, trading is like gambling and thus it shouldn't be your main source of income.

bitterguy28

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Quote from: STUTZ on May 13, 2024, 07:20:33 AM

Just invest every month what you can into ETFs and stay consistent about this over several years, you will make some money.

nice advise , have you also done that? because before advising others then you must also have the funds to invest on it .

Quote from: Mrcool75 on May 13, 2024, 09:56:34 AM

Everyone wants to be rich. But there is no specific shortcut to get rich. To be rich you must be very hardworking. Hard work and honesty will help you become rich. Moreover, you have to invest your earned money in the right place.

even businessman started with small capital and earning this will take time but what we are seeing in crypto space is that people wanted to be rich in shorter time
but cannot afford when their stupidity and foolishness takes them into losing .

Mr.sprin

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Quote from: Mrcool75 on May 13, 2024, 09:56:34 AM

Everyone wants to be rich. But there is no specific shortcut to get rich. To be rich you must be very hardworking. Hard work and honesty will help you become rich. Moreover, you have to invest your earned money in the right place.

Rich is relative, it all depends on ourselves, there is no rich that doesn't have a process, everything needs a process, and nothing is instant, unless we boil instant noodles, who wants us to be rich, I think we all want it rich, but remember, don't just be rich in wealth, rich in heart is also very much needed for the lower class, helping others who are needed must also be implemented within ourselves, there is no need to wait for riches before we can help people, it is useless to be rich but never help others who are needed, So we have to change our lifestyle if we want to be rich, learn to invest correctly and do it carefully.

Mrcool75

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Everyone wants to be rich. But there is no specific shortcut to get rich. To be rich you must be very hardworking. Hard work and honesty will help you become rich. Moreover, you have to invest your earned money in the right place.

spectre71

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Glad your learning.

At 19 you don't know dick about anything financial. Period. Get that out of your head. You simply haven't been around long enough and your not at Harvard.

Education means little, experience means more.

Your time would be better spent starting a business to generate income. Pay someone to invest half your proffits and do the other half yourself. After 10 years you will learn a thing or two.

Good luck.

STUTZ

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Just invest every month what you can into ETFs and stay consistent about this over several years, you will make some money.

rodskee

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Quote from: Sinancryp on May 11, 2024, 10:22:30 AM

Hi guys, I am 19 years old and know a lot about finance (ETFs, funds, crypto, stocks, commodities)
I have been Bitcoin swing trading for a year and I am still not profitable. I would like to be self-employed as an investor or trader after my IT education. Does trading really work in the long term to be profitable?

when you said You know a lot meaning you already knew how to make money but not having profit till now?
or maybe you don't really understand it deeply because I have a group mate in TG that is in your age but
he is capable of making money in crypto and yeah sending Himself in college without a penny coming from His parents.

franky1

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being rich is the appearance of grandeur based on displaying lots of flashy, fancy, things that make those around you jealous

being wealthy is about having the financial freedom to afford lots of flashy, fancy things, but not needing/wanting to buy them because you prefer to keep the financial freedom of the ability to afford anything, rather than have wasted it by having it

rich people have lots of nice things, wealth is about the financial ability to afford nice things

there are many people that are 'rich' but then come into problems later, when circumstances of life cause harm to their freedoms. such as using debt to buy that fancy car, but later years the banks repossess that car

dont try to aim for being rich, aim for wealth

its better to be wealthy so that you can spend on the real things that make your life happy and content and not on things that make your friends/neighbours react/notice

moneystery

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why don't you try to develop your skills in the it field? because if you are successful in that field, you can get quite a high income from it. because trading has risks and you need to be smart enough to carry out market analysis and choose the right instrument for you. not to mention you need to face potential losses if you choose to trade, so it's quite risky for you to rely on trading alone.

it's better for you to develop your skills in the it field and after you have succeeded in getting income from it, you can start investing in bitcoin or other assets that you trust. besides you can secure your job, you can also invest to make a profit.

spindotbetcasino

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Hopefully I don't share my conservative views too much about life, but with an education you are pursuing, it is probably best to start with a job and working your way up. On the other hand, it's probably hard to do your own business once you get a job. Such is life. At the end of the day, it all starts with the choice you decide to do.

btc78

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Quote from: Sinancryp on May 11, 2024, 10:22:30 AM

Hi guys, I am 19 years old and know a lot about finance (ETFs, funds, crypto, stocks, commodities)
I have been Bitcoin swing trading for a year and I am still not profitable.

Maybe you are not doing it right or this is not the best suited for you. I suggest trying to look for other ways you can earn among the crypto community. There are different kinds of trading have you ventured out into those?

Quote

I would like to be self-employed as an investor or trader after my IT education. Does trading really work in the long term to be profitable?

I think with your background it can definitely be helpful in making trading your primary income.

Vod

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Quote from: Sinancryp on May 11, 2024, 10:22:30 AM

Hi guys, I am 19 years old and know a lot about finance .... after my IT education.

Man, to be 19 again in this day and age. Wink

Trading is exponential growth, and if you are bad you often get reset to zero. :/ Look into invention - better than websites or phone applications - I mean ideas. Find a service no one else offers. Then license the data from the service to people who want to build the website or phone application.

Residual income is key, and can be used to trade when you have extra $.

No one wants to retire, then be forced to go back to work; how quickly are you looking to sleep soundly without sacrificing something?

boyptc

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Quote from: Sinancryp on May 11, 2024, 10:22:30 AM

Hi guys, I am 19 years old and know a lot about finance (ETFs, funds, crypto, stocks, commodities)
I have been Bitcoin swing trading for a year and I am still not profitable. I would like to be self-employed as an investor or trader after my IT education. Does trading really work in the long term to be profitable?

If you are for the long term, both trading and investing can work to anybody. But know that it's not for all so, if trading doesn't work for you. It's either you keep on testing strategies and gain more experience.

Or, you change your path and become an investor which in my experience have been more profitable than doing swing trades for years.

Being a holder of BTC is easy and means a lot to me and that's why this strategy is also being told by the others. So, since you're already here might as well try to be a holder of Bitcoin.

jrrsparkles

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Quote from: Sinancryp on May 11, 2024, 10:22:30 AM

Hi guys, I am 19 years old and know a lot about finance (ETFs, funds, crypto, stocks, commodities)
I have been Bitcoin swing trading for a year and I am still not profitable. I would like to be self-employed as an investor or trader after my IT education. Does trading really work in the long term to be profitable?

You said you know a lot about finance then you might already have an answer for your question...

Irrespective of trading or investing you need capital which again you should knew it already when you said you know about finance.

Anyway to answer the final question, yes it's profitable but highly impossible to be a successful and consistent trader for such long term.

Happy Waters

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"Does trading really work in the long term to be profitable?"

Yes, for a small % of people, they can win big long-term as traders. The estimates are ~ only 10 to 20% of people make money trading/investing and everyone else loses eventually. Does this scare you away, or tell you there is a ton of money to be made for the winners?

Quote from: Sinancryp on May 11, 2024, 10:22:30 AM

Hi guys, I am 19 years old and know a lot about finance (ETFs, funds, crypto, stocks, commodities)
I have been Bitcoin swing trading for a year and I am still not profitable. I would like to be self-employed as an investor or trader after my IT education. Does trading really work in the long term to be profitable?

bluebit25

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Quote from: Sinancryp on May 11, 2024, 10:22:30 AM

Hi guys, I am 19 years old and know a lot about finance (ETFs, funds, crypto, stocks, commodities)
I have been Bitcoin swing trading for a year and I am still not profitable. I would like to be self-employed as an investor or trader after my IT education. Does trading really work in the long term to be profitable?

Regarding expertise in any field, if you do it well, the results you get will also be good.

So if you have a plan to direct what you want to develop, determination and perseverance are the factors that will help you achieve success. But what you are talking about is that the information is still in theoretical form and needs more experiential action. I know of traders who can make a lot of money but only very little and they are really in a comfortable state before making money. Spending time on something where you can sense a lot of opportunities like the crypto space somehow shows that you are still not skilled enough, so just keep learning and taking action on everything, trading has many things going on. around it and not for the crowd so answering the question you are looking for is probably you who is the one answering for yourself with the shortcomings that need to be filled in.

Bulltard

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Quote from: Sinancryp on May 11, 2024, 10:30:44 AM

I'll try out trading until the end of 2024 and then we'll see. I find long-term investing really more interesting, but the problem is that I don't have the capital. 3k won't do me any good if I turn it into 10k as an example and the next BTC halving won't be until 2028

i started defi with 10k and got to 14m at some point.
i did that during the previous halving.
this is the time when devs build(no my bad, it's the time when they launch, not the same thing) . if you're gonna invest, it should be now.
you got so many narratives: depin, rwa, gaming, ai, l2s, l1s, restaking...
and ffs you're 19, there are worse things than waiting 4 years to become a milionaire.

you wanna trade? i'll give you a hint. the one thing that moves the market right now is the etfs. inflows=green. outflows=red.
knowing that grayscale still has 300k btc to sell and that last week, for the first time they actually bought (twice), good luck figuring out which direction the market's going

Sinancryp

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I'll try out trading until the end of 2024 and then we'll see. I find long-term investing really more interesting, but the problem is that I don't have the capital. 3k won't do me any good if I turn it into 10k as an example and the next BTC halving won't be until 2028

Bulltard

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Quote from: Sinancryp on May 11, 2024, 10:22:30 AM

Hi guys, I am 19 years old and know a lot about finance (ETFs, funds, crypto, stocks, commodities)
I have been Bitcoin swing trading for a year and I am still not profitable. I would like to be self-employed as an investor or trader after my IT education. Does trading really work in the long term to be profitable?

you know a lot and yet you're not profitable after a year?

maybe you don't know as much as you think.
wanna be rich? be a good investor, not a good trader.
find projects you believe in, projects you feel close to, research them (like a lot), buy early and hold.
you're 19... you'll be rich at some point if you have the balls to hold and the work ethic to really search for the good stuff

Sinancryp

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Hi guys, I am 19 years old and know a lot about finance (ETFs, funds, crypto, stocks, commodities)
I have been Bitcoin swing trading for a year and I am still not profitable. I would like to be self-employed as an investor or trader after my IT education. Does trading really work in the long term to be profitable?

Topic: How to get rich - page 4. (Read 860 times)