Newbies say no to Trading. - page 2.

Mpamaegbu

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Quote from: Ruttoshi on August 16, 2023, 04:53:15 AM

Trading should be the last thing on your mind as a newbie here...

This type of assessment is self limiting. For a fact, that someone is a newbie here doesn't mean they're a newbie in trading or other business endeavours. Nope, that's not true. For all we know, some of these newbies may even be well ahead of many high ranked members here in these things. I've seen expert programmers who came here and were thought to be greenhorns until they threw in their skills and craft to exhibit what they're good at doing.

Quote

Don't quit your job because you just purchase some fraction of bitcoin, and use like 10% of your income to buy bitcoin monthly or weekly and hold for a very long time because this is the only way that you can enjoy from your bitcoin investment.

It will be a hilarious situation if anyone does that. It's not even advisable to quit one's job simply because one got lucky and profitable in trading until after three months. Three months should serve as the trial period. Generally, in business they say you don't take out profit from a new start up for frivolity or unnecessary expenses except to ploy it back into that business within three months of startup.

Ruttoshi

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Quote from: Saint-loup on August 20, 2023, 02:49:33 PM

Quote from: Ruttoshi on August 16, 2023, 04:53:15 AM

So many newbies have the wrong orientation on bitcoin and they think that it is a get rich quick scheme,which makes them rush into investing and after investing,what comes to their mind next is trading. Trading should be the last thing on your mind as a newbie here,what matters is after buying your bitcoin is to learn on how you can keep your bitcoin safe and how you can also add to your bitcoin by using the DCA method or how to take advantage of the market when bitcoin price dips. The best way a newbie can make profit from bitcoin is when he holds his bitcoin for a very long time and the profits will come by itself and not through trading.

Trading is done by professional and people who understands the fundamental analysis and technical analysis,you still also need to know the risk management in trading. All these put together can't be learnt in two months that is why a newbie should shy away from trading and don't think that trading is very easy and rush into it,or else you will end up losing your bitcoin to a professional trader because even the professional traders also run at loss. Don't see bitcoin trading as job that you can use to earn a living because you will get disappointed after a great loss,or something that you can use to earn high profit within a short period of time because that is not how it works.

Don't quit your job because you just purchase some fraction of bitcoin, and use like 10% of your income to buy bitcoin monthly or weekly and hold for a very long time because this is the only way that you can enjoy from your bitcoin investment. Your bitcoin at hand is worth more than millions in the market and don't allow your greed or anxiety to trade make your loss your bitcoin because it is more precious than gold when you HodLi. Any fraction of bitcoin that is gone wouldn't be easy to replace back. Learn and have a concrete knowledge on whatever you want to use your bitcoin for before rushing into it. The forum is where you can learn a lot on bitcoin and DYOR.

What are your suggestions on this my seniors. I want to hear from experience members.

I don't understand how you can advise beginners against trading while advising them to invest 10% of their income in Bitcoin by doing DCA or by hodling.
You have the same amount of chances to make profit or to lose money by trading or hodling IMO. Because nobody can tell if Bitcoin will continue grow in the coming years or if it will crash. IMO we can't except adoption to grow in the same way as it has done from 2009 to 2021, so you shouldn't make beginners dreaming of millions, it's not serious.

I only said that newbies should learn trading and understand it before they should go into it to avoid loss. When you are a bitcoin holder,you will make profit in the long term because I believe that bitcoin is still growing in adoption and there is a very slim chance that bitcoin price will run down to zero. The only possible way for this to happen is if the whole countries in the world ban bitcoin. I still understand what you mean but we don't hope for the worst to happen to bitcoin that will make it fail.

Sim_card

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Quote from: Saint-loup on August 20, 2023, 02:49:33 PM

Quote from: Ruttoshi on August 16, 2023, 04:53:15 AM

So many newbies have the wrong orientation on bitcoin and they think that it is a get rich quick scheme,which makes them rush into investing and after investing,what comes to their mind next is trading. Trading should be the last thing on your mind as a newbie here,what matters is after buying your bitcoin is to learn on how you can keep your bitcoin safe and how you can also add to your bitcoin by using the DCA method or how to take advantage of the market when bitcoin price dips. The best way a newbie can make profit from bitcoin is when he holds his bitcoin for a very long time and the profits will come by itself and not through trading.

Trading is done by professional and people who understands the fundamental analysis and technical analysis,you still also need to know the risk management in trading. All these put together can't be learnt in two months that is why a newbie should shy away from trading and don't think that trading is very easy and rush into it,or else you will end up losing your bitcoin to a professional trader because even the professional traders also run at loss. Don't see bitcoin trading as job that you can use to earn a living because you will get disappointed after a great loss,or something that you can use to earn high profit within a short period of time because that is not how it works.

Don't quit your job because you just purchase some fraction of bitcoin, and use like 10% of your income to buy bitcoin monthly or weekly and hold for a very long time because this is the only way that you can enjoy from your bitcoin investment. Your bitcoin at hand is worth more than millions in the market and don't allow your greed or anxiety to trade make your loss your bitcoin because it is more precious than gold when you HodLi. Any fraction of bitcoin that is gone wouldn't be easy to replace back. Learn and have a concrete knowledge on whatever you want to use your bitcoin for before rushing into it. The forum is where you can learn a lot on bitcoin and DYOR.

What are your suggestions on this my seniors. I want to hear from experience members.

I don't understand how you can advise beginners against trading while advising them to invest 10% of their income in Bitcoin by doing DCA or by hodling.
You have the same amount of chances to make profit or to lose money by trading or hodling IMO. Because nobody can tell if Bitcoin will continue grow in the coming years or if it will crash. IMO we can't except adoption to grow in the same way as it has done from 2009 to 2021, so you shouldn't make beginners dreaming of millions, it's not serious.

Yes you are not nobody knows what the future will have for bitcoin price but from history in every bitcoin circle,it has shown that after the halving comes ATH in the next year,and that the price at bitcoin ATH is always higher than the previous ATH price. Which means that if we go by this,bitcoin investment is profitable when you invest and hodli for a long term,compare to trading that you can make loss in a second. That is what OP is telling the newbies that they shouldn't see trading as something that will generate them with fast money when they don't have the knowledge of trading. It is clear that when you hodli your bitcoin irrespective of the circle,you will be more profitable than stressing yourself to trade on what you are not sure of making profit from.

Pandu Geddon

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Quote from: mvdheuvel1983 on August 21, 2023, 12:39:30 AM

Quote from: Ruttoshi on August 16, 2023, 04:53:15 AM

What are your suggestions on this my seniors. I want to hear from experience members.

There are exceptions to this. A person who just invests in Bitcoin may be called a newbie but may not be a newbie in trading in or forex trading. Since they have the same trading principles the forex trader who is now a Bitcoin investor could also become a Bitcoin trader too. But I get the point of the post , which is Bitcoin is not a get-rich-scheme. Trading takes time to learn and even when you learn it as a newbie you will still lose some money or in this case Bitcoin, therefore newbies without high risk tolerance should steer clear of trading until they have mastered it which would take years.

because it takes quite a long time for a beginner in Bitcoin trading to be really smooth in trading. many beginners choose the Instant way to follow copy trading or follow trading signals. they find it easier.
it has indeed opened the doors of many newbies interested in Bitcoin trading. but they will be very easy to fall for deception in the future. because they do not have enough skills and knowledge.
I hope that there are beginners who come to anyone to learn to trade. they find a worthy mentor.

mvdheuvel1983

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Quote from: Ruttoshi on August 16, 2023, 04:53:15 AM

What are your suggestions on this my seniors. I want to hear from experience members.

There are exceptions to this. A person who just invests in Bitcoin may be called a newbie but may not be a newbie in trading in or forex trading. Since they have the same trading principles the forex trader who is now a Bitcoin investor could also become a Bitcoin trader too. But I get the point of the post , which is Bitcoin is not a get-rich-scheme. Trading takes time to learn and even when you learn it as a newbie you will still lose some money or in this case Bitcoin, therefore newbies without high risk tolerance should steer clear of trading until they have mastered it which would take years.

tvplus006

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Quote from: Woodie on August 20, 2023, 01:50:50 AM

Quote from: tvplus006 on August 19, 2023, 03:13:31 PM

Quote from: Woodie on August 19, 2023, 02:09:13 PM

The easiest way to trade Bitcoin is the basic buy and sell model by using peer2peer trading which can grow your coin stash in no time and I think this is the best!...

If this was a really fast way to increase the amount of BTC in the wallet, then everyone would only be engaged in P2P. But in fact, everything is completely different from what you write, since at any moment the price may change and you may find yourself in a position where bitcoins are sold, but you will need more stablecoins to buy them than before.

Am actually very correct about this & people haven't just developed the interest in it probably because of KYC concerns and the alike, think about it...when it comes to hodling what happens is that your coins quantity remains the same and only the value changes no matter the duration you hodl them, but with p2p your quantity of coins changes with time and value, meaning after a certain duration you get to have more coins than you started with! Hence my reason of saying it's a better choice of trading.

In order for the number of coins to increase in the wallet, knowledge and experience are needed. In this case, I will also be right if I say that futures trading will allow you to quickly increase your deposit, but many beginners lose their money at the same time.

Saint-loup

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Quote from: Ruttoshi on August 16, 2023, 04:53:15 AM

So many newbies have the wrong orientation on bitcoin and they think that it is a get rich quick scheme,which makes them rush into investing and after investing,what comes to their mind next is trading. Trading should be the last thing on your mind as a newbie here,what matters is after buying your bitcoin is to learn on how you can keep your bitcoin safe and how you can also add to your bitcoin by using the DCA method or how to take advantage of the market when bitcoin price dips. The best way a newbie can make profit from bitcoin is when he holds his bitcoin for a very long time and the profits will come by itself and not through trading.

Trading is done by professional and people who understands the fundamental analysis and technical analysis,you still also need to know the risk management in trading. All these put together can't be learnt in two months that is why a newbie should shy away from trading and don't think that trading is very easy and rush into it,or else you will end up losing your bitcoin to a professional trader because even the professional traders also run at loss. Don't see bitcoin trading as job that you can use to earn a living because you will get disappointed after a great loss,or something that you can use to earn high profit within a short period of time because that is not how it works.

Don't quit your job because you just purchase some fraction of bitcoin, and use like 10% of your income to buy bitcoin monthly or weekly and hold for a very long time because this is the only way that you can enjoy from your bitcoin investment. Your bitcoin at hand is worth more than millions in the market and don't allow your greed or anxiety to trade make your loss your bitcoin because it is more precious than gold when you HodLi. Any fraction of bitcoin that is gone wouldn't be easy to replace back. Learn and have a concrete knowledge on whatever you want to use your bitcoin for before rushing into it. The forum is where you can learn a lot on bitcoin and DYOR.

What are your suggestions on this my seniors. I want to hear from experience members.

I don't understand how you can advise beginners against trading while advising them to invest 10% of their income in Bitcoin by doing DCA or by hodling.
You have the same amount of chances to make profit or to lose money by trading or hodling IMO. Because nobody can tell if Bitcoin will continue grow in the coming years or if it will crash. IMO we can't except adoption to grow in the same way as it has done from 2009 to 2021, so you shouldn't make beginners dreaming of millions, it's not serious.

isaac_clarke22

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Quote from: Awaklara on August 20, 2023, 10:30:28 AM

Quote from: Eureka_07 on August 20, 2023, 09:38:09 AM

I would agree to this by a hundred percent. We know it, most newbies tend to think that bitcoin investment is a rich-quick-scheme even though it is not. My hunch is that Bitcoin, for them, are hyped. So they tend to think more positive with this investment.

it's because there are quite a number of videos or marketing posts or campaigns from local exchange platforms in a given country. they campaign crypto investment or trading. even made snippets regarding some of the traders who have had success with crypto trading. indirectly it creates a perception in beginners that crypto trading and investment can be an alternative to get rich quickly in a short time.
many beginners don't get proper education for crypto assets and trading. what they are more interested in is short trades with quick profits they can feel.

That's hella true, Awaklara and this is why I never tend to believe almost all of the success story with crypto trading. There's a lot more than what meets the eye in those stories like nobody would want to share their struggles with those success story. There's just no such thing as quick earnings here in crypto.

What people may call it "short term" might be "long term" for other people. Screw those influencers that just gives the false hope for beginners. They just can't admit that their success was contributed by plenty of luck and some variables that people will never get.

Awaklara

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Quote from: Eureka_07 on August 20, 2023, 09:38:09 AM

I would agree to this by a hundred percent. We know it, most newbies tend to think that bitcoin investment is a rich-quick-scheme even though it is not. My hunch is that Bitcoin, for them, are hyped. So they tend to think more positive with this investment.

it's because there are quite a number of videos or marketing posts or campaigns from local exchange platforms in a given country. they campaign crypto investment or trading. even made snippets regarding some of the traders who have had success with crypto trading. indirectly it creates a perception in beginners that crypto trading and investment can be an alternative to get rich quickly in a short time.
many beginners don't get proper education for crypto assets and trading. what they are more interested in is short trades with quick profits they can feel.

Eureka_07

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Quote from: Ruttoshi on August 16, 2023, 04:53:15 AM

I would agree to this by a hundred percent. We know it, most newbies tend to think that bitcoin investment is a rich-quick-scheme even though it is not. My hunch is that Bitcoin, for them, are hyped. So they tend to think more positive with this investment.

Are there any people that quit their job even though they only learned about bitcoin and crypto for a short period of time.

icalical

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On point suggestion, but you I think you need to specify what 'Newbie' are you talking about. I think if a person is a newbie in both Bitcoin and Trading, then they definitely should stay away from Bitcoin trading. If the person is newbie in Trading but already know a lot about the nature of bitcoin and crypto then it will be a big risk, I would never recommend for anyone to learn trading by trading in crypto, stock or forex would be less risky, both stock and forex is less volatile compared to crypto, it will be good for them to experience the trading psychology before jumping to practice trading on crypto. If a person is an expert in trading but a newbie and are not familiar with the nature of crypto market, then I would say go for it, it would be easier for a person who are already experienced in trading of other commodity/market to learn trading on crypto.

Jawhead999

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It's correct newbie shouldn't straightly jump into trading if he had no experience in trading and don't understand anything about the asset he want to use for trading. But we should know if people who're making money through trading were started from a newbie too, so don't afraid to trade if you want to become a trader.

Obviously not everyone can become a trader, that's why it's important to know what you're good and not.

Inwestour

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Pretty good ideas for a newbie. Trading, like investing, cannot be an excuse to quit your job until you have reached the point where your capital can provide you with financial freedom.

To achieve this in trading is much more difficult for an inexperienced trader, and even for an experienced trader, it is not always an easy task to make consistent profits. Therefore, trading should never be regarded as a job, it should be as a hobby, as an activity that you like to do and maybe one day it can bring good profit.

But for most, the best option would be to invest, buy bitcoin and store it properly, it really is the best thing most of us can do.

Finestream

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Newbies would never do great when they decide to trade in an instant. Aside from there is no reliable experience in the market, newbies jumping to trading only prove that they are more than greedy than to understand how the trading market moves first. And when they start to trade and often times lose in the market, that’s because their emotions become uncontrollable and instead show too much panic in the market. That’s exactly the reason why newbies are not advised to trade all of a sudden, but should give a lot of time first on learning how the market moves and knowing trading when it will be favorable or not.

Bako97

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Quote from: Porfirii on August 16, 2023, 05:05:06 AM

All these predictions are more pseudoscience to me.

I wouldn't say that if i was you, Prediction of the future movement of any pair is proven to be science not pseudoscience; because it has the features of fundamental scientific approach, with all claims, this experts learn from observation, ask empirical question, and also they are many journals describing in details the method they used in their research. Prediction is not 100% right not because is not science, but because spairs" behaviour is determined by many external factors.

summonerrk

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I believe that beginners can also trade cryptocurrencies on exchanges and do it successfully. I have read a lot of messages from newcomers, and among them there are so knowledgeable and literate that they surpass many users with the rank of legendary in understanding cryptocurrencies.

But I understand why it's better for them not to do this - the fact is that beginners are bad at controlling themselves, they want everything at once. And in any case, it is important to have your own experience, and a negative experience in the cryptocurrency market threatens to lose the deposit. Therefore, it is better for beginners to start with demo accounts, or very small deposit amounts.

Woodie

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Quote from: tvplus006 on August 19, 2023, 03:13:31 PM

Quote from: Woodie on August 19, 2023, 02:09:13 PM

The easiest way to trade Bitcoin is the basic buy and sell model by using peer2peer trading which can grow your coin stash in no time and I think this is the best!...

If this was a really fast way to increase the amount of BTC in the wallet, then everyone would only be engaged in P2P. But in fact, everything is completely different from what you write, since at any moment the price may change and you may find yourself in a position where bitcoins are sold, but you will need more stablecoins to buy them than before.

Am actually very correct about this & people haven't just developed the interest in it probably because of KYC concerns and the alike, think about it...when it comes to hodling what happens is that your coins quantity remains the same and only the value changes no matter the duration you hodl them, but with p2p your quantity of coins changes with time and value, meaning after a certain duration you get to have more coins than you started with! Hence my reason of saying it's a better choice of trading.

Mate2237

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Quote from: Ruttoshi on August 16, 2023, 04:53:15 AM

So many newbies have the wrong orientation on bitcoin and they think that it is a get rich quick scheme,which makes them rush into investing and after investing,what comes to their mind next is trading. Trading should be the last thing on your mind as a newbie here,what matters is after buying your bitcoin is to learn on how you can keep your bitcoin safe and how you can also add to your bitcoin by using the DCA method or how to take advantage of the market when bitcoin price dips. The best way a newbie can make profit from bitcoin is when he holds his bitcoin for a very long time and the profits will come by itself and not through trading.

And bitcoin investment profit is even better than the trading profit, just that trading gives instant profit which might be big while investment gives long term though you can decide to invest for short time but that is not advisable. If they buy at the dip which is the way it is now, this is the best time to boost your wallet. Make it more fatter than before so that when the bull finally comes, your face will be very smiling.

Quote from: Ruttoshi on August 16, 2023, 04:53:15 AM

Trading is done by professional and people who understands the fundamental analysis and technical analysis,you still also need to know the risk management in trading. All these put together can't be learnt in two months that is why a newbie should shy away from trading and don't think that trading is very easy and rush into it,or else you will end up losing your bitcoin to a professional trader because even the professional traders also run at loss. Don't see bitcoin trading as job that you can use to earn a living because you will get disappointed after a great loss,or something that you can use to earn high profit within a short period of time because that is not how it works.

There are some newbies that will not even listen to you because the wrong information they gotten from the wrong person of trading. Crypto trading is not something you rush into. And if rush in and the way you rush in will be the same way you will rush out and if care is not taken, when you finally rush out you might hate trading to go back again be like a waste of time.

Quote from: Ruttoshi on August 16, 2023, 04:53:15 AM

Don't quit your job because you just purchase some fraction of bitcoin, and use like 10% of your income to buy bitcoin monthly or weekly and hold for a very long time because this is the only way that you can enjoy from your bitcoin investment. Your bitcoin at hand is worth more than millions in the market and don't allow your greed or anxiety to trade make your loss your bitcoin because it is more precious than gold when you HodLi. Any fraction of bitcoin that is gone wouldn't be easy to replace back. Learn and have a concrete knowledge on whatever you want to use your bitcoin for before rushing into it. The forum is where you can learn a lot on bitcoin and DYOR.

What are your suggestions on this my seniors. I want to hear from experience members.

It is only those who does not understand the cryptocurrency world and those who don't understand cryptocurrency leave their physical jobs for cryptocurrency investment and trading. Mostly trading, the day when the market crash and you loss funds then you will know the important of the physical jobs. It is not advisable to leave your job oh.

Russlenat

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Quote from: Obari on August 18, 2023, 09:20:03 AM

Well, you've given a great advice but the truth be told that you're making trading seem very impossible which is wrong and there are a whole lot of features introduced in trading that is already making trading easier even for newbie and what is actually needed is basic knowledge of buying and selling and with that, you're already good to go.
I also spoke about the copy trading feature introduced by some brokers and with that feature alone, one can make some good profits from copy trading and I also want to correct the fact that one can make a life and living off trading but alot of practice and research ought to be done and you also have to know that life on it's own is risky and trading or holding isn't exempted.

Newbies are still capable to learn trading and start with their own actual trades, but they should never assume that trading is easy and they can easily gain quick profits knowing they all know the basics in trading. That’s not how trading works. Trading is way more complex in reality because it’s not just all about simply motivating yourself to learn about its basics and you’re good to go. Trading requires a lot of time and efforts to help you understand what trading is really all about and needs focus and concentration so you can monitor the market as well.

tvplus006

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Quote from: Woodie on August 19, 2023, 02:09:13 PM

The easiest way to trade Bitcoin is the basic buy and sell model by using peer2peer trading which can grow your coin stash in no time and I think this is the best!...

If this was a really fast way to increase the amount of BTC in the wallet, then everyone would only be engaged in P2P. But in fact, everything is completely different from what you write, since at any moment the price may change and you may find yourself in a position where bitcoins are sold, but you will need more stablecoins to buy them than before.

Topic: Newbies say no to Trading. - page 2. (Read 725 times)