If you have teach him about the risk involved then don't worry it's now up to him and up to his luck that how he manipulate the things. I think that everyone should be aware of the risk involved after get enter into this business.
I think no one should blame one another as everyone has their own mind and thoughts so no one is such a fool to invest money blindly without investigation. If a person ask you about something then tell him the truth but never force him to do so because everyone has the ability to go through the details and then invest nothing is impossible if a person tries to do it accurately.
You are not wrong you have just tell him what he wants to know and now its his decision that what he wants to do.
Topic: I don't know if am right or wrong about this. - page 2. (Read 848 times)
On your part you have given your sufficient amount of knowledge maybe your friend could not gain good experience from there. You asked him to adopt common knowledge about crypto but he might be interested in investing without understanding for extra profit. However, if you want to trade futures, you must keep some money in reserve so that when the market goes down, liquidation can be added. I think futures trading is not good at all for newbies but it is most risky so spot will be good for them. You must make your friend understand well in this situation that one should never invest without skill. If you invest without skill there is a possibility of losing money by falling under the scams so this matter should be fully observed. Of course newbies have to follow the market and analyze and then join the investment only then there will be no loss.
A beginner should always start with spot trading and with a small amount of money, because in the early stages, losing money is inevitable and even if it is a small amount, it will not be a significant loss, but it will be sufficient to draw conclusions, from the mistakes made.Let at first there be an understanding that this is a test amount and a test period, when you can try how trading is a suitable business for making money. No matter how one person tries to explain to another his principles of trading, everyone will act in his own way, it seems to me that it is impossible to teach a person trading so that he can eventually repeat all your actions, each trader will see the situation in his own way and, accordingly, buying, selling and results everyone will be different.
We shouldn't always be very careful the way we refer people to some certain things that can be very risky. We need to disassociate ourselves from telling people who are very about investing in the Crypto market to try and learn the skill before diving into investing and trading in the market. If you tell someone about trading and you did not inform them about the risk that is involved as an investor or trader, they will always accuse you of making them lose there funds because you are not careful enough to let them know about how the market works and those various risks that can be attached.
It is even better we abstain ourselves from telling people about how to trade than letting them have a minute knowledge that will make then enter the market and lose there funds.
It is even better we abstain ourselves from telling people about how to trade than letting them have a minute knowledge that will make then enter the market and lose there funds.
In addition, you should also be prepared for the fact that the cryptocurrency market may change and you may lose your money. It is important to remember that investing always involves risk and no one can guarantee success
You're very correct with your reply, cryptocurency investment or trading is very risky so anybody that you're introducing to the market has to know every possible thing that could go wrong due to the volatility in the market so Incase it happens you'll not be held responsible for the person losses. Tell them how quickly the market can dump and not only how they can profit when the market rises.
It's best to be very transparent so the individual that you're introducing into the market can be very aware and prepared for any movement the market makes. Don't lie about the market as you might be the reason they invest everything into the market and loses it all.
On your part you have given your sufficient amount of knowledge maybe your friend could not gain good experience from there. You asked him to adopt common knowledge about crypto but he might be interested in investing without understanding for extra profit. However, if you want to trade futures, you must keep some money in reserve so that when the market goes down, liquidation can be added. I think futures trading is not good at all for newbies but it is most risky so spot will be good for them. You must make your friend understand well in this situation that one should never invest without skill. If you invest without skill there is a possibility of losing money by falling under the scams so this matter should be fully observed. Of course newbies have to follow the market and analyze and then join the investment only then there will be no loss.
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Let him learn his trades and experiences until he's the one to open up to you that he's going to continue or he's already given up. Don't make yourself accountable for that as you've just shared and never encouraged and convinced him to trade. Whatever the result will be, it's his fault.
Learning trading with his own experience will be better, it will make him more independent and know what to do. Let him learn his trades and experiences until he's the one to open up to you that he's going to continue or he's already given up. Don't make yourself accountable for that as you've just shared and never encouraged and convinced him to trade. Whatever the result will be, it's his fault.
Be sure to warn about the risks of trading that will occur so that no one is blamed when getting losses.
That's why we don't dictate what one must do with their finances and how they're going to trade. We all have our own instincts and what we think is going to be the best for us.
It's not going to be easy for the beginners but it's best for them to explore and discover the ins and outs of trading and let them assess if they'll stay or not based on the experienced that they've gained.
There's nothing wrong on sharing up the idea and things you've been doing, the only wrong thing is on the time that you would really be making out some guarantees into someone that they could make money out of
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If you give guarantees to others that the advice will provide benefits, it is not right. -snip-
Because giving financial or investment advice to others will not be fully guaranteed.
If there is a mistake or not appropriate, then the advisor will be guilty in this case, yes but it is also at their own risk.
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Let him learn his trades and experiences until he's the one to open up to you that he's going to continue or he's already given up. Don't make yourself accountable for that as you've just shared and never encouraged and convinced him to trade. Whatever the result will be, it's his fault.
Learning trading with his own experience will be better, it will make him more independent and know what to do. Let him learn his trades and experiences until he's the one to open up to you that he's going to continue or he's already given up. Don't make yourself accountable for that as you've just shared and never encouraged and convinced him to trade. Whatever the result will be, it's his fault.
Be sure to warn about the risks of trading that will occur so that no one is blamed when getting losses.
I don't know why you are even uncomfortable, or you don't want to tell anyone about trading before? You supposed to be bold and sound to tell anyone who wants to hear and learn because trading is not a personal business and it is a general business which means anyone who is interested can go into it without fear and treble.
You are not investing for him but you are only telling how to invest so if he is interested to let do that after the class. By you saying you are uncomfortable, you were not willing to teach him. You have to be in the comfortable zone to teach the step so that the awareness will go far and it will not stagnated in one place. If you are facing the risk and conquer it then any other interested person can also do that.
You are not investing for him but you are only telling how to invest so if he is interested to let do that after the class. By you saying you are uncomfortable, you were not willing to teach him. You have to be in the comfortable zone to teach the step so that the awareness will go far and it will not stagnated in one place. If you are facing the risk and conquer it then any other interested person can also do that.
You won't know until you try something. Only the result can show the correctness of the choice. There are no other ways.
And that friend of mine might blame him for having a bad result. You know that people nowadays are looking for interesting things but then if they fail, they look for someone who's to blame for their actions for having an unfavorable result. It's already there @OP and you'll never know how he's going to react to the losses. Let him learn his trades and experiences until he's the one to open up to you that he's going to continue or he's already given up. Don't make yourself accountable for that as you've just shared and never encouraged and convinced him to trade. Whatever the result will be, it's his fault.
Trading of bitcoin has been one of my source of income for quite some time now but find it difficult to tell some other persons to engage in trading because of the risk involved.
Last week a friend of mine saw me trading so he tried to know more about it, at first I never wanted to tell him due to the risk involved, but then based of his persistence I first of all explained to him the difference between spot trade and futures, but I told him I do only spot, how I buy low and sell high, even as I was explaining it to him I was feeling uncomfortable because of the risk.
I don't want a situation whereby someone will say that I scammed him if there is a sudden dip in the crypto industry, so I just told him to open a binance account and verify it, after then, he should get back to me so I can send him the hard copy of the crypto course I bought.
Uptil now I still feel uncomfortable about it, I don't know if am wrong or right for opening up, even though I told him of the risk involved.
There's nothing wrong on sharing up the idea and things you've been doing, the only wrong thing is on the time that you would really be making out some guarantees into someone that they could make money out of Last week a friend of mine saw me trading so he tried to know more about it, at first I never wanted to tell him due to the risk involved, but then based of his persistence I first of all explained to him the difference between spot trade and futures, but I told him I do only spot, how I buy low and sell high, even as I was explaining it to him I was feeling uncomfortable because of the risk.
I don't want a situation whereby someone will say that I scammed him if there is a sudden dip in the crypto industry, so I just told him to open a binance account and verify it, after then, he should get back to me so I can send him the hard copy of the crypto course I bought.
Uptil now I still feel uncomfortable about it, I don't know if am wrong or right for opening up, even though I told him of the risk involved.
trading which we know that it cant really be that possible.We know that this is something that wont really be that so simple in speaking about sustainability. Trading is something that giving out that kind of sure profits
because we are dealing on a market which is really that totally unpredictable or random which there's no way that we could be able to make assurance that we could really make money.
We know that results or outcomes doesnt always that would be similar if ever it did happen to you or into others but doesnt mean that it would really be the same into those who are just recently
trying out to get involved with .Results and outcome could really be affected with lots of factors because decision making by a veteran person is really that totally different if you do compare on those
someone whose completely noob.
When it comes to investing, especially in cryptocurrencies, it is important to be honest and transparent. Your friend should have known all the risks associated with trading cryptocurrencies before he decided to invest his money. To avoid misunderstandings and conflicts, you should have honestly explained to him the risks associated with cryptocurrencies and trading methods. If you don't feel confident that you can explain it, it might be best not to advise anyone to trade cryptocurrencies.
In addition, you should also be prepared for the fact that the cryptocurrency market may change and you may lose your money. It is important to remember that investing always involves risk and no one can guarantee success.
If your friend does decide to invest in cryptocurrencies, it is important that they study the market on their own and understand how trading works. Never invest more than you can afford to lose.
In addition, you should also be prepared for the fact that the cryptocurrency market may change and you may lose your money. It is important to remember that investing always involves risk and no one can guarantee success.
If your friend does decide to invest in cryptocurrencies, it is important that they study the market on their own and understand how trading works. Never invest more than you can afford to lose.
You won't know until you try something. Only the result can show the correctness of the choice. There are no other ways.
While we will never know the result of anything until we try, we can in fact make an educated guess of what it may happen if we really think about it, and in most cases those which ask you about your trading results and then want to emulate you are in it just for the money, and while this is not wrong by itself, at the same time you can be sure most of them will not have the necessary discipline and desire to learn you had, making them incredibly vulnerable to suffer losses on the markets and then blame you because of it. 
In my opinion, you shouldn’t have advised him to use Binance exchange due to it is a centralized exchange, they basically require KYC verification and the assets are not controlled by users. For me, I would rather use decentralized exchange than CEX despite they are not easy to use and provide only basic features unlike CEX.
The more you have funds, the more risky to deposit them on Decentralized exchange.
And to be honest, you have not made any mistake OP, there is no need to blame yourself. The risk always existing in trading, your friend will definitely face some troubles in the beginning, that’s normal and once he gains experience, the risk of loss money will decrease.
there is a tendency for those who like trading to prefer CEX exchange. related to volume and also assets that can be an alternative to trade.The more you have funds, the more risky to deposit them on Decentralized exchange.
And to be honest, you have not made any mistake OP, there is no need to blame yourself. The risk always existing in trading, your friend will definitely face some troubles in the beginning, that’s normal and once he gains experience, the risk of loss money will decrease.
This risk can be overcome when they have completed daily trading so they can withdraw their money from the Exchange. or if it takes a longer time they can use less capital.
however investing and trading still have risks. so stay careful when we will put our money.
If you explained everything to him about the risk in trading, then you're all good. You didn't force him to do so, he insisted, so clear your mind and just guide your friend whenever he have a question about trading. Always include disclaimers, that'll help too. If your friend really wanted to do trading, I'm sure he knows himself that it is not that easy if he already started doing so.
Most of the people who come to trading come from seeing the success of their friends/relatives traders. As a result, they are busy thinking about profit faster than learning. From my own experience, helping my friends in trading, they want to profit by trading based on signals rather than building skills. As a result, they ignored all the warnings given to them and joined the signal group for trading, and quickly exited the market after trading with that signal and losing money. 
In my opinion, you shouldn’t have advised him to use Binance exchange due to it is a centralized exchange, they basically require KYC verification and the assets are not controlled by users. For me, I would rather use decentralized exchange than CEX despite they are not easy to use and provide only basic features unlike CEX.
The more you have funds, the more risky to deposit them on Decentralized exchange.
And to be honest, you have not made any mistake OP, there is no need to blame yourself. The risk always existing in trading, your friend will definitely face some troubles in the beginning, that’s normal and once he gains experience, the risk of loss money will decrease.
The more you have funds, the more risky to deposit them on Decentralized exchange.
And to be honest, you have not made any mistake OP, there is no need to blame yourself. The risk always existing in trading, your friend will definitely face some troubles in the beginning, that’s normal and once he gains experience, the risk of loss money will decrease.
Before entering the market, we informed our acquaintances about the perils and high risks associated in trading cryptocurrencies. It is always beneficial to enter the market with a proper solid mindset, one that will either make massive losses or enormous riches from the market. The place is not programmed, but rather intended for individuals who know what they're doing. Trading cryptocurrencies is a legitimate method to create income on your own, as long as you know what you're doing. Cryptocurrency is fraught with dangers, and we are prepared to confront them. No matter what happens, we will remain proactive in the market.
I think it is quite important to actually make a difference in the end, but that doesn't mean that we will be able to actually do something about what they think, you can't meddle with other peoples thoughts, it is what they think and as long as they think it that way, you can't change it. Don't we all feel like if only people think the way you think, and you show everyone the right way to live would be better?We all imagined if we could just change some group of people to think the "right" way, which happens to be yours, we all do feel that. However, there are unfortunately too many people who will think very differently to what you think, and this will cause them to think of this situation differently too, and that's just something you have to learn to live with.
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To be honest, the OP's story is something majority of us experience including myself, I have some really good friends whom ordinarily, I would have introduced crypto to most of them, but very reluctant to do so, simply because, like the op shared, I don't wanna end up taking any blame for anyone who looses their money in a trade..
It is always better for them to find us trading, and on their own, ask to be taught, In this regard, I won't feel any discomfort if I already clearly made them understand the risk involved.
It is always better for them to find us trading, and on their own, ask to be taught, In this regard, I won't feel any discomfort if I already clearly made them understand the risk involved.
If everyone decides to stop trading because of the supposed risk involved in trading, how would we have achieved a community filled with people who are enthusiastic, optimistic and pessimistic about trading on a daily..
Dish out has much information you can, and emphasis on the risk, anyone who isn't prepared to take risk is actually on a long thing cause, life in itself is a risk..
What if you acquire a big investment today, with knowledge away from your loved ones and you end up not seeing the next day, just what if??
Dish out has much information you can, and emphasis on the risk, anyone who isn't prepared to take risk is actually on a long thing cause, life in itself is a risk..
What if you acquire a big investment today, with knowledge away from your loved ones and you end up not seeing the next day, just what if??
It's important to be honest about the risks involved with cryptocurrency trading, and it's good that you shared this information with your friend. It's always a personal decision whether or not to share trading advice, as there is always a risk involved in any investment. However, it's important to make sure that people are aware of the risks and that they have access to information that can help them make informed decisions. If you're uncomfortable giving advice, it's perfectly acceptable to direct your friend to educational resources and let them make their own decision. Ultimately, it's up to each individual to decide if they are willing to take the risk of trading cryptocurrency
Before entering the market, we informed our acquaintances about the perils and high risks associated in trading cryptocurrencies. It is always beneficial to enter the market with a proper solid mindset, one that will either make massive losses or enormous riches from the market. The place is not programmed, but rather intended for individuals who know what they're doing. Trading cryptocurrencies is a legitimate method to create income on your own, as long as you know what you're doing. Cryptocurrency is fraught with dangers, and we are prepared to confront them. No matter what happens, we will remain proactive in the market. 
It's important to be honest about the risks involved with cryptocurrency trading, and it's good that you shared this information with your friend. It's always a personal decision whether or not to share trading advice, as there is always a risk involved in any investment. However, it's important to make sure that people are aware of the risks and that they have access to information that can help them make informed decisions. If you're uncomfortable giving advice, it's perfectly acceptable to direct your friend to educational resources and let them make their own decision. Ultimately, it's up to each individual to decide if they are willing to take the risk of trading cryptocurrency
Yes, it's true, we have to provide related risks first before going further, we tell them about trading. Usually people who are new to the world of trading do not look at the risks they will experience, they are more focused on the benefits that will be achieved. In fact, in trading the risk of losing is greater, we can lose money in an instant.We as people who know better about this should not be indifferent to them. The reason is what we must feel like when we lose money, and it really hurts. In the end when we have told them, it is up to them whether they want to continue with their intention or not.
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