Topic: Newbie: If trading isn't working for you, buy and hold. - page 4. (Read 518 times)

I won't entirely ask them to stop trading, sometimes having your fingers burnt is also a good way of learning, trading has to do with experience, and you cannot get that experience without getting some losses. The best traders will always advise you to try again and even after blowing up your account.

There are lots of gains in trading, you just have to keep on keeping on with the best trading skills you can come up with.
So letting them know that getting losses is not entirely a bad thing, it's actually part of the process of learning
.

Some people even become addicted and they suffer more losses. Trading take their time, energy, money and probably give them bad health condition. Trading can take than give if someone is not a good trader. And most people are not good traders, only few people are good to the extent that they use trading to make money.

That is true, not everyone can become a good trader. It is better for some people to change to swing trading because scalping and day trading are rinker, just like gambling. With swing trading, a trader can be patient enough to let the market fall before trading. Or better still to go for holding. Holders are not losing like traders.


I have always advice people that if they want to trade and they are beginners, they should first use less than the amount of money that they can afford to lose. Something like $10 in each trade is good to begin trading.

If they are making money, then they can use the amount of money they can afford to lose to trade.

If they keep on losing, they should change to swing trading, they are still traders but just like short term holding.

If they are still not getting it, they should wait when the market will fall and hold at low price.

For some people the end is not just making profit but making large profits and holding alone doesn’t seems to quench there thirst for it. From your example someone that has actually bought $1K worth of bitcoin at 17k in January will have gain more than $600 profit now at current price of $28k, which is not a bad profit. But some traders actually gain, some gain at least 10% of that amount every week and that has worked for them.

Many people came into bitcoin with the narrative of getting rich quick and holding doesn’t guarantee that in a short period of time. Although holding is more secure but there’s nothing bad in trading if you have the fund to risk and also are ready to learn. But for others waiting for just signal from others without assurance of how accurate it could be then it is better to stick to holding

Every newbie who gets to know about about bitcoin mostly conceives the idea that you must have to trade or be a good trader for you to make or be able to earn on bitcoin. And this notion has driven many to scramble for resource materials that teaches on different trading strategies and patterns, yet they end making continuous losses upon losses after even passing through these trading classes and studying of trading materials.

In my little observation, I find out it is not that these strategies taught out from these materials and classes are not in context with conventional trading, or that they are not workable or plausible to earning earning on bitcoin but the underlying truth is that trading isn't meant for everyone in the crypto space and everyone must not be a bitcoin trader. whereas some still fight it and they keep losing financially in the fight.

Why bother yourself to be a skillful trader despite how it's not working out for you when you can be a good holder. Yes! you heard me right, a holder. Why not buy and hold patiently wait for a profitable rise in price from the actual price you bought at and sell at a good profit level. This doesn't demand strategic techniques or you to be a guru with years of experiences in trading, all it's required is "buy, hold patiently for price to rise profitably for you while you sell and wait for another opportunity to buy again and hold.

For example: those that bought bitcoin at the beginning of this year January 2023 can relate to this, as those that bought around 17k-19k price can sell with profit right now as bitcoin price is currently around 28k within the end of the month of march.

Note: The end point is to making profit, so why not focus on the area  that could easily work out for you irrespective of the time it takes instead of following the crowd to a numerous lose end.