Topic: I don't know if am right or wrong about this. - page 4. (Read 848 times)

This kind of behaviour is not only peculiar to your situation alone because most of us who went through the rigorous process to become experts in whatever we do find it hard to explain to others what the it took us to achieve such confidence and skill.
Trading is one of the high-risk ventures in the cryptocurrency space and at that, and to become a good trader one needs to go through a lot of losses and rough rime but if you press on with trading even though you are losing money, so not all newbies can handle such bad experience and that is why most people who are involved in such as passive trading will rather keep it secret and keep pressing on without involving any third party same way with bitcoin holding.

You know, there’s always this humanity side of us that as much as possible, we can offer help to those who are in need of it. However, we should also be careful on what type of help that we can extend to them, otherwise it will only make them miserable later on. That’s how I see your status right now. It’s not bad to educate your friend actually, but do not cross the line. Just let him decide on his own. If he really wants to trade and be successful, then he should work for it. You should have told him to educate himself more by making thorough research in the internet. I guess with a lot of youtube videos available, he will surely get an idea from them.

Yeah, that's the right move. You have to talk about risks everywhere until someone accepts that it's the consequences of this business that must be borne personally. Sometimes a person's curiosity is too great to prevent it.
You can let him trade with only the minimum deposit allowed on binance (I think it's $10) and see what your friend will do next when really faced with the risk of losing.

As long as you don't advise your friend to buy a coin then that's fine, and if you have told him about the risks then he should already understand every risk that will be faced in trading.
What often makes people feel they are being scammed is that because they don't get the appropriate information, it is recommended to buy a coin with the lure of getting big profits but the opposite happens.
Don't forget to also tell him to only use the money he can afford to lose, because that will be enough to help your friend if the trade goes badly, because losses won't harm his finances.

I don't think you need to worry too much about it, it is good that your friend wants to invest in Bitcoin and you have shown him its positive and negative sites and I think that's enough for you.
And since your friend is a beginner at trading, I would suggest your friend to invest in Bitcoin only for the long-term, if you see that currently, Bitcoin price is still less than half from its all-time high, now if he invests in Bitcoin. Then the next halving can be expected to achieve a good profit, and therefore he should first make a long-term investment in Bitcoin if he is interested in investing.
And after giving those suggestions, you should mention to him a little more that,
 * Invest at your own risk, and never invest without analysis
 * And invest as much as you can afford to lose.

That's risky, before engaging in trading cryptocurrency, it would be better if he would learn first about cryptocurrency and some basic knowledge about it before engaging in trading or investing because doing those things without any prior knowledge about it would be a bad ending. The worst case is he might blame you for every loss he will have in the future.

I also admit that it is too common, which is what many people think. I remember when I was introduced to forex trading by a friend, I also asked him to give me signals because I saw him making a lot of money. He could not refuse my request, but after many successes in that way, we also failed many times. Since then, I realized I was putting pressure on my friend because he could not always make a profit. I decided to learn everything on my own and not make it difficult for my friends.
It can be said that inviting someone to participate in trading will put us in a dilemma, and a lot of unwanted problems will occur. We should refrain from doing it, even if it is our loved ones.

And this is a problem that is very common, when someone sees that you are having some sort of success the first thing that they think is that if you can do it then they can do it too, and in fact they are not wrong on that belief, but they do not want to work hard for it just like you did, they want you to give them a shortcut so they can become as successful as you are but without working anywhere near as hard as you did, and as we know that is never going to work, because anything that is worth anything in this life is going to cost you, and cost you a lot.

People's thinking is that you are making profit by trading and making your living, means now they want profit like you. But they will not see how hard you have worked to get this far, instead they will pressure you to give them trading signals so that they can earn almost for free without any effort!

They can be advised to develop trading skills, but in reality they are mostly not interested in developing trading skills through hard work. The real problem here is that if you bring someone into the market to trade, the pressure they put on you may cause your trading activity to be interrupted due to distraction.

Honetly, I know this situation.
Although they may say it's okay, it will be different when they see their assets are decreasing. But, if we are not telling them and teaching them about yrading, they say that we are too arrogant because we are considered unwilling to share our efforts to get money. Sometimes it's a dilemma, they think it's quite easy seeing us succeed. But unfortunately they sometimes don't understand and don't want to know about the various obstacles and experiences that we have been through.

so here, you don't need to think too much, just let him learn. What is resilient, you have explained the risks and it is also not you who offers, but he who asks.

Cryptocurrency trading – picture a rollercoaster where loops and plunges are replaced by bullish bears and oodles of FUD. As a crypto lover, there's no foolproof cash-making method in this realm. It's a balancing act of risk-taking and bracing for turbulence. But here's the kicker – as much as I'm into crypto trading, I know the perils. Hence, I've devised a can't-fail recipe for wealth. Step 1: Plow all your moolah into Bitcoin. Step 2: Await lunar liftoff. Step 3: Profit party!

Nah, just joshing. Don't dive headfirst, seriously. But for reals, while crypto ain't foolproof, tweak your tactics to boost the odds. Like, hone in on primo projects with killer fundamentals and a buzzing fanbase. It'll help cut some risk. Plus, keeping cool amid chaos helps sidestep impulsive moves you'll bemoan later. In the end, crypto investment's a go-big-or-go-home situation. But if you're game to learn and forge a wicked investment scheme, the potential loot is life-altering. Just buckle up – it's a thrill ride, baby.

Teaching the basis of trading and how entirely the market operates is an amazing thing to displayed. Bitcoin is an opportunity for us to help one another from finance struggles. We rise by lifting others, helping a friend with useful information will aides him to be independent in the market and also grab good entries in the market. Bitcoin is a strong project and we ought to stick to what brings passive income and food on the table. Do not look down on anybody, because one can never predict what the outcome of the future hold.

For the fact that you were able to share your alternative source of income with your friend, and told him the risk involved and yet he insisted that he should be shown how it works and you went further teaching him, if the price of Bitcoin happens to fall someday and he tends to lose a fraction of his deposit, I see no reason why you should be worried, but only if you never told about how Bitcoin works as a fluctuating digital currency whose value always rise and fall. Because what I think you should be worried about now is for him not trying a "Future trade" where he absolutely knows nothing about and end up losing all his funds. Because of what benefit will it be that you are a rich good trader and yet all your friends are poor, which is why in this life we should always strive to lift others by showing opportunities of making money after we may have found one.

I agree with that because if you explain the benefits then most people tend to join crypto without a second thought,
they need to understand the risks and I think that's much more important,
because investing and trading in crypto is not easy and they have to be aware of that.

That's hilarious!, the worst thing you could do is to introduce your friend in trading futures! hahahahah. He probably now using the max leverage available to get most profit he could have. Your friend will absolutely learn his lesson the hardest and most expensive way.

But! if he is really persistent enough he will take that lesson and move forward. Learn more about trading and improve his system along with himself to really make trading work from him. You do not need to worry yourself. All things will come for a reason.

I don't usually open it to other people on what I do especially if they are on another field like people who doesn't have any interest on discussing investments and other topics regarding financila literacy. Actually, people around me doesn't know that I'm a full time trader because I never tell them. I only tell it to some people who have same interest with me like with my internet friends who are also a trader because they are the people who can understand me and can help me to become more better trader and better person. I do not really like the idea of forcing someone to become an investor or a trader because I understand the risk and I understand the uncertainty of the market.

There are a lot of new traders and investor who are entering in this market with wrong perception because they think that they can easily become successful once they put their money in their trading account without knowing that their mindset is not yet that ready. Those new traders and investors do not aware to the uncertainty of the market which is there are no guarantee that they can make a money from their investment. If you force someone to become investor or a trader, then you will be liable once they burnt their capital or their trading portfolio. The best move is to just let them be, only teach them things regarding investment and trading if they approach you first.

For this reason, all the actions you take must be well calculated and mature, so that no side effects will befall you in the future. Moreover, this is related to other people, it will definitely be even more big risk for you in the future, because this problem is related to the realm of investment. But because you have taught your friends about investing in crypto, so in essence what you have to do now is teach your friends as a whole about investing in crypto, so that your friends can think more deeply about their decision to invest in crypto. If you have told and taught your friends about all the things needed to invest in crypto, such as telling the risks that must be faced, how to analyze the market and how to get profits. If you have taught all things related to crypto investment to your friends, and your friends continue to invest, in this position you don't need to worry anymore, because you have taught your friends about all the science of investing in crypto.

As a friend, you have done your job well, providing accurate and transparent information about the risks associated with investing or trading cryptocurrencies. So I think you don't need to feel guilty about your friend because the most important thing in crypto trading is teaching a friend about risks and giving him knowledge about trading on binance.

Meanwhile, you have also given him guidance by sending him a hard copy of the crypto course he will understand that investing in cryptocurrencies or trading carries a high level of risk and is not suitable for everyone. While there is a large profit potential, there is also a significant risk of losing capital. But Bitcoin is a safer choice for beginners in long term trading. I think you've tried to be a resource for your friend and help him understand the concepts related to trading crypto.

Of course, the final decision on whether your friend is ready to enter the crypto trading market should be made by him based on his own knowledge even if the market starts to dump you don't need to feel uncomfortable or guilty because you taught him from the start. However, you should still provide support and guidance that can help him develop his skills and knowledge in trading crypto.

I talk about crypto since 2015, many around me didn't know anything about crypto 8 years ago. I never felt uncomfortable when I was trying to bring the crypto world closer to them (to those who were interested to listen). Even now I try to explain to them about the crypto itself and all the opportunities, and one of them is definitely trading. I always try to point out all the risks associated with crypto and all crypto stuff around us (trading, staking, gambling, mining, etc), and I repeat many times they shouldn't invest more than they can afford to lose if they decide to give it a try. And of course, if they stuck at some point I will help in any way I can.

Bitcoin has kept so many traders alive. I am the breadwinner for my family, and I am expanding my capacity in various fields of business, both online and offline. All of these quests in order to pay bills. You are correct in providing him one of the reliable routes to making easy money with learned knowledge. Working and building out ideas will be the aides that make money for you in the market. Cryptocurrency is risky, he needs to keep that in mind. If he is keen to learn about bitcoin, show him every legitimate method and teach him everything since cryptocurrency is not something we can afford to keep hidden from our colleagues.