Newbies should invest in bitcoin first before thinking of trading.

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Quote from: Ruttoshi on July 08, 2024, 01:39:12 PM

Why do they direct newbies to the wrong path when they know it is a very risky way of increasing your bitcoin portfolio. Newbies should not jump into trading in the beginning because it will slow your chance of investing into bitcoin and increasing your bitcoin stash overtime. If you want to get into bitcoin as a newbie, you should only have investing for a long term in your mind and plan for how you can achieve your bitcoin target overtime by using DCA method to buy bitcoin weekly or monthly consistently and persistently without overdoing it. Bitcoin is not a get rich quick scheme which those influencers are making you think it is through trading. Trading eats up your capital but investing saves your capital from inflation and gives you profit overtime.

Do we have anybody that has made success through trading, come and clear my doubt. I know that we have long term investors that are still hodling with huge profit.

Let's discuss.

I tell newbies who wants to rush into crypto trading because they think that it's a get rich quick scheme that trading is hard. It's not something that you can rush into because you've heard that people are sitting in the comfort of their homes and making a lot of money, it's risky and you can easily lose all your funds if you don't understand how trading works. I advice newbies to start from the basics in cryptocurrency business, that is investing in Bitcoin, it's the safest and most reputable cryptocurrency, you don't need much technical knowledge to hodl it.

Trading requires fundamental and technical analysis to understand, someone needs to become a professional in crypto trading to make profits and minimize loses. Newbies needs to start with demo trading, be mentored and gain knowledge before trading with funds.

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Quote from: Dzwaafu11 on July 30, 2024, 04:59:30 AM

Quote from: AYOBA on July 29, 2024, 03:24:58 PM

Because the bitcoin investment is far deference with the trading we all know that the bitcoin inverse also deserves of knowledge, but not like the trading that a person have to learn in full details to know the risk that is involved and also learn how to avoid them; but the Bitcoin investment is a is investment that a newbie can afford with a little knowledge and experience and it can be succeed since it has limit risks unlike trading.

All these newcomers you see getting themselves into trading without the proper knowledge of crypto trading are doing it because they are not ready to invest into trading without the proper knowledge of crypto trading are doing it because they are not ready to invest in bitcoin for a long period of time. That is why they feel like waiting for so long before cashing out their money is not going to favor them, and most of them can't see their money reducing due to the volatility of the market.

They will sell out the bitcoin, so they feel like trading is going to favor them more because it doesn't take time, so they would rather learn trading and trade crypto. which is not the case here. The thing is that they don't wait and learn well; they rush with little knowledge and start trading, and that is why they lose too much.

Trading is somehow suggested on where they can earn bitcoins and some newbie got interested on the idea that they just need to buy low then sell at high price to earn. But realize later on that its not all about that action since it need critical decisions and do proper research to learn a lot of things that could able to help them to do good trades. But even though they learn about it still its risky to participate since bitcoin price volatility also with other altcoin will always be unpredictable so that means everything is not sustainable in trading.

So much really better for them if they think about better investment is to go with bitcoin and ignore any thoughts to risk some amount especially if they are the type of person who can't afford to lose since every investments they will get affected if they are losing on their trades.

GIF-JOBS

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Of course, Bitcoin is not a get-quick scheme, so beginners should stay away from trading as much as possible in the first place. They should first start with long term investments. They must first gain a thorough understanding of investment risk management and plan to achieve your goals by investing in Bitcoin using the DCA method. And after knowing everything about investment, proceed towards trading. A newbie should never jump straight into trading. They should know everything from the beginning and slowly move towards trading. And definitely take advice from a trader who will explain to you both the benefits and risks of trading. As a newbie, this is how one should proceed. And you should always invest with money that you can afford to lose.

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Quote from: GeorgeJohn on July 09, 2024, 04:08:55 PM

Quote from: Davidvictorson on July 08, 2024, 10:50:08 PM

In my estimation, there is nothing wrong in recommending trading to a friend. My recommendation of trading to a friend could be based on several factors. For example, this friend can may have the time in the world and want to take on a new challenge. Based on his capability, trading can make for a new challenge for him. However it is only an ignorant person who don't know how to swim that would throw themselves into the pool without taking any swimming lessons, a life jacket, or having a lifeguard around. This is self-explanatory. Second factor is if the "newbie" is coming from a similar field like stock trading. Nothing stops me from recommending crypto trading. They will bring in their experience and similar skills to it. I won't be the one to tell them that they will not be successful in it. They will know themselves because that's what they have signed up for.

actually there's nothing wrong to recommend a trading to a friend or people they only thing is that threading have skill that we also supposed to know and understand the procedures of it before we venture into it but if you refuse to understand the procedures of trading and you venture the into it that can lead you to negative side of it so I think that is what op is navgating to, because so many people have experience losses in Trading due to their are unaware of thing's of trading, so in summary is encouraging for someone to acquire the skills of trading before you venture on it.

Before recommending trading to someone we need we need to confirm their knowledge in trading before they begin because some people think trading is all about knowing the strategy and having the amount to begin with, firstly I think they should be made to now that one of the procedures to trading is to have a positive mindset, good trading signals and their ability to welcome every outcome they encounter during trading, you are right the skills are needed and the knowledge ought to be there cause it's foolishness for anyone to recommend trading to a total newbie when they know that person will end up blowing the account and go broke.

Dzwaafu11

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Quote from: AYOBA on July 29, 2024, 03:24:58 PM

Because the bitcoin investment is far deference with the trading we all know that the bitcoin inverse also deserves of knowledge, but not like the trading that a person have to learn in full details to know the risk that is involved and also learn how to avoid them; but the Bitcoin investment is a is investment that a newbie can afford with a little knowledge and experience and it can be succeed since it has limit risks unlike trading.

All these newcomers you see getting themselves into trading without the proper knowledge of crypto trading are doing it because they are not ready to invest into trading without the proper knowledge of crypto trading are doing it because they are not ready to invest in bitcoin for a long period of time. That is why they feel like waiting for so long before cashing out their money is not going to favor them, and most of them can't see their money reducing due to the volatility of the market.

They will sell out the bitcoin, so they feel like trading is going to favor them more because it doesn't take time, so they would rather learn trading and trade crypto. which is not the case here. The thing is that they don't wait and learn well; they rush with little knowledge and start trading, and that is why they lose too much.

AYOBA

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Many of newness seeing a trading like where they can earned money quickly and that’s when they come instead of to them go through the trading skills and learn everything about the trading, but they will not all they’re thinking is that the trading is not all about having a knowledge about it before starting that’s is big problems almost all the newbie that want to trading are facing, and that’s why they easily fall in victim of losing. Honestly the way some newbie are losing their money in trading, if to say they use it start the investment in the bitcoins they will know even thinking of trading without seek for knowledge before starting.

Because the bitcoin investment is far deference with the trading we all know that the bitcoin inverse also deserves of knowledge, but not like the trading that a person have to learn in full details to know the risk that is involved and also learn how to avoid them; but the Bitcoin investment is a is investment that a newbie can afford with a little knowledge and experience and it can be succeed since it has limit risks unlike trading.

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Quote from: Ruttoshi on July 28, 2024, 04:54:55 PM

A newbie in trading will certainly give up when he sees that he is losing always because it is money that we are talking about here. Instead of losing all that money to trading, if you just start investing it will save your capital and also give you profit in the long-term.

Mastering trading is not easy and coming up with your own strategy that will favor you in the market takes much time because trading is complex and this is why majority of people who tries trading always run at loss often.

Do you know that newbies do have different intentions? Some of them will come with the intention of trading, so instead of taking some time to learn about trading before starting, they rush to use some signals from their so-called crypto experts, if they fail, they will start blaming crypto as a means of losing money. While some will just go straight to investment, not trading.

Your advice is very important because most of the newbies that do start with trading do lose money because they don't know some basic fundamentals governing trading; therefore, learning is the first step, and if they can invest in Bitcoin while learning how to trade will be better for them and will have several advantages if the Bitcoin price goes up.

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Quote from: SamReomo on July 28, 2024, 03:59:24 PM

Quote from: GiftedMAN on July 27, 2024, 06:02:52 PM

What if they decide to keep trading and losing money until they master a strategy that will benefit them in trading

If they decide something like that then still they won't be able to make profits as a trader because losing enough money will change their beliefs regarding trading and they'll somehow get a feeling that the market is always manipulative. I know some of them may become good traders but most of them will give up on trading.

No one can sustain seeing his money losing all the time even if it means he’ll end up with a working trading strategy in the end. No matter how rich you are, you won’t let your funds becoming screwed just to learn in trading, instead you will look for another profit opportunity where making money is more certain, compared to trading in the market which requires experience and skills first before you will see the real profits in trading, add to it is the unpredictable market wherein trader needs to be patient at all times to avoid instant losses.

YOSHIE

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Quote from: Ruttoshi on July 08, 2024, 01:39:12 PM

Newbies should invest in bitcoin first before thinking of trading.

My understanding is that for beginners, don't be reckless in doing both, don't rush, it's best to learn about the risks and understanding of investing and trading in crypto first with those who are experts in the real world or on this forum, it is important before acting in crypto investment activities.

Investing if a beginner doesn't understand the market or the type of crypto he wants to invest in is useless and can be risky, recently many exchanges like Binance have eliminated several types of crypto, If that happens, the type of crypto you have invested in could have fatal consequences and you could experience real losses. For this reason, learning and understanding the opportunities for the coins you want to invest in is very important, including Bitcoin investment, currently the price is unstable, it can fall far or well, the point is to learn and understand both methods.

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Quote from: SamReomo on July 28, 2024, 03:59:24 PM

Quote from: GiftedMAN on July 27, 2024, 06:02:52 PM

What if they decide to keep trading and losing money until they master a strategy that will benefit them in trading

If they decide something like that then still they won't be able to make profits as a trader because losing enough money will change their beliefs regarding trading and they'll somehow get a feeling that the market is always manipulative. I know some of them may become good traders but most of them will give up on trading.

I don't agree with what OP said because, for me, the best way to become a better investor or trader in Bitcoin is not about having your capital first or throwing money on things you don't know.

The best way is to learn first the Bitcoin especially since you are a newbie, you need to know how it works, and the history of it, you don't invest in things you don't know, that's very important in investing.

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Quote from: SamReomo on July 28, 2024, 03:59:24 PM

Quote from: GiftedMAN on July 27, 2024, 06:02:52 PM

What if they decide to keep trading and losing money until they master a strategy that will benefit them in trading

If they decide something like that then still they won't be able to make profits as a trader because losing enough money will change their beliefs regarding trading and they'll somehow get a feeling that the market is always manipulative. I know some of them may become good traders but most of them will give up on trading.

A newbie in trading will certainly give up when he sees that he is losing always because it is money that we are talking about here. Instead of losing all that money to trading, if you just start investing it will save your capital and also give you profit in the long-term.

Mastering trading is not easy and coming up with your own strategy that will favor you in the market takes much time because trading is complex and this is why majority of people who tries trading always run at loss often.

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Quote from: GiftedMAN on July 27, 2024, 06:02:52 PM

What if they decide to keep trading and losing money until they master a strategy that will benefit them in trading

If they decide something like that then still they won't be able to make profits as a trader because losing enough money will change their beliefs regarding trading and they'll somehow get a feeling that the market is always manipulative. I know some of them may become good traders but most of them will give up on trading.

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Quote from: Ruttoshi on July 08, 2024, 01:39:12 PM

Why do they direct newbies to the wrong path when they know it is a very risky way of increasing your bitcoin portfolio.

I don't see trading as the wrong direction for newbies, but it is now left for newbies to learn how to be self-prepared for trading. If newbies can be calm and learn properly about trading before jumping into trading, they may not lose money, even as a person who has been in the cryptocurrency industry for a long period of time without trading. Once newbies don't have the proper knowledge of how to secure their funds, they can easily lose the money too. If trading is the wrong path, I don't think people will make profits from it, whether you are a newbie or have been in the crypto industry for a long time. Knowledge is power; once you lack knowledge, you are planning to lose.

The only advice I will like to give to newbies about trading is that they should not just jump into trading without proper knowledge. I cannot discourage any newbies who are interested in trading, and at the same time, I can't encourage them to join trading. In the crypto industry, there are ways of making profits, but it is left for someone to pick their choice.

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Why do many beginners jump into trading rather than investing because of these influencers who direct them they will showcase the advantages in futures trading in their videos or social media to follow in their footsteps by using their referral links, now there are many people who open premium classes with the lure of being profitable.

Based on some of the information they got from social media that made some newbies to jump into trading without exercise patience to ask those traders that succeeded from trading question, because they are in a good position to direct or give some information that will help newbies to make profits from trading.

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Actually, I am not a real trader, I only occasionally trade when there are coins that I think can be profitable, but the rest only focus on investing in bitcoin because this is one that is "safe" if it does not sell, when I continue to HODL then there will be no loss whatsoever.

i guess, you are like me in this forum, am not a regular trader because i use to trade my coins once in a year or twice in two years which is the reason i use to invest in every bear season to have the opportunity to make profit when time to trade occur in the market, and it hard for me to loss profits during the bull season.

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Beginners have a mindset of how to get profitable faster they run into trading by ignoring the real risks a little.

That is where some newbies are missing it wrong, invest in a profitable coins and hodl for long period of years to have the chance to learn the trading before you can be bold to trading in the bull run to get what you want from trading, which is a good advise for newbies to learn from to avoid losses from trading.

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Quote from: Ruttoshi on July 08, 2024, 01:39:12 PM

I have observe something in this forum, a lot of people that are not trading or have traded before and had great losses which made them run away from trading are still saying trading is a good means of making profit from bitcoin when they know that the chance of making profit from trading is very slim, because only few people can devote their time and resources to learn trading and be successful at it.

Nope. Not for me.

I'm one of the many aspiring traders out there that ended up losing money in trading, but I didn't say that trading is a good means of making money. I'm only saying that trading is one way of making money which really is, but there's a risk on it. I always say that don't go all in on trading when you're starting, and if you aren't ready to lose money in trading, don't even start doing it. Trading is a good way to make money yes, but only for those who are willing to spend time and money learning it. Trading isn't for everybody.

Quote from: Ruttoshi on July 08, 2024, 01:39:12 PM

Why do they direct newbies to the wrong path when they know it is a very risky way of increasing your bitcoin portfolio. Newbies should not jump into trading in the beginning because it will slow your chance of investing into bitcoin and increasing your bitcoin stash overtime. If you want to get into bitcoin as a newbie, you should only have investing for a long term in your mind and plan for how you can achieve your bitcoin target overtime by using DCA method to buy bitcoin weekly or monthly consistently and persistently without overdoing it.

A newbie can always try trading and from there, they will decide based on their experience.

Don't discourage newbies not to try trading because at first place, they can do it as long as they're ready for the possible consequences that they might face. Yes, it isn't recommended for them, but they can just try it. Investing in long term if you're a newbie will always be a better option if you want to make more money compared to trading, but newbies can just trade, but the risks are higher for them since they're just new to it. DCA will always be better than trading if you're a newbie, but if they really want to trade them let them experience it.

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Quote from: Porfirii on July 08, 2024, 02:52:07 PM

Quote from: CryptoGuGu on July 08, 2024, 02:43:58 PM

I actually believe that 99% of people are losing in trading. A much better option is to focus on top projects and invest in them. You will earn your money sooner than later.

What do you mean by investing in top projects? ICOs? buying alts and holding? NFTs?

I agree with you that trading is very risky, some sort of gambling IMO (although not as much as 99% of losers...) but hodling is also risky if you choose the wrong project, or simply if the the market behaves the opposite of what you expected in the long term.

Yea you are dam right bro, in as much as trading can be very risky, especially to a newbie that knows nothing on what it entails and how to navigate his or her way around it, but holding can also be very risk if it's the wrong asset, like all this shit coin and most of this alt coin, so apart from Bitcoin investment, all other crypto asset are associated with a very high risk, that's why to me, if you you insist on taking such risk, I would advice you do it with an amount you can afford to lose, just as gambling, so that if things went south, you actually wouldn't be emotional and bothered about it.

Lastly, on my own perspective, I don't think trading is that bad, just that before you engage in trading, it's best you follow the life principle, which is learn first, before trying to earn, because almost all newbies that lost money in trading thinks they can earn without learning how to go about it, which cost them dearly, so it's best to keep off, if you knows nothing about it.

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Quote from: Cryptoprincess101 on July 08, 2024, 02:15:55 PM

I have known few people who have been into trading and made success through it but yet they always say that trading is very risky and that anyone who wants to trade should use an amount they can afford to lose while trading and these two people that I have known to be successful traders told me that there are times they also lose a lot of money but they have someone through telegram who sends them signals and out of six signals they get in a day, they can succeed with about 4 of the signals most times and lose with 2 signas. These two guys have achieved and acquired some assets through trading and they even tried putting me through on how trading works but I declined because I don't like involving myself in high risk form of making money and am someone that can't control my emotions if I incur losses so I just rejected their offer because I don't want anything that will trouble my mental health.

I totally get it why you do not want to trade. It is high risk way to make money and it can be bad for your mental health. You are smart to know your limits and prioritize your well being.Stories of your friends who trade successfully but still lose money sometimes show how unpredictable it is. They rely on others for tips and still lose mostly. By not trading you are being proactive and protecting yourself from stress and financial ups and downs. There are many other ways to grow your money that might be less risky and stressful for you. But here is one important thing too if you will learn more about trading and if you will be able to control your emotions. So I think trading will be more profitable. But if you don't want to trade so I will advise you to buy crypto and just hold it.

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Quote from: CryptoGuGu on July 08, 2024, 02:43:58 PM

I actually believe that 99% of people are losing in trading. A much better option is to focus on top projects and invest in them. You will earn your money sooner than later.

Majority of traders are actually at loss, maybe because newbies these days have resorted into trading and lose their funds because they don’t have sufficient knowledge and experience that are required before trading. However, if buying and hodling bitcoin will be their first focus, most likely they will be in profits these days, not at the peak of losing. It’s just that they are blind with trading thinking that it will make them instantly rich, when in reality it’s not.

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Quote from: SamReomo on July 26, 2024, 05:32:53 PM

Quote from: Ruttoshi on July 08, 2024, 01:39:12 PM

Do we have anybody that has made success through trading, come and clear my doubt.

I would also suggest newbies to stay away from trading as it's not for everyone but surely those who can make a proper trading plan with a proper trading strategy can earn enough profits in trading. Investing is good but as a trader you can invest in Bitcoin way better than those who don't understand the charts.

What if they decide to keep trading and losing money until they master a strategy that will benefit them in trading I think my advice for them will be to get information on good trading strategy or this should do a demo trading first before the thing of involving in really trading, above all the advice, newbies can trade it thwy are able to undergo the learning process, it will help them to know how to minimize losses in trading and give them good information on the various trading tips and guidelines which will help them to take profit as beginners but if they have no knowledge at all then trading is not for them.

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Quote from: Ruttoshi on July 08, 2024, 01:39:12 PM

Do we have anybody that has made success through trading, come and clear my doubt.

Yes, I've made success through trading and I still trade because that allows me to earn some good profits. I know for newbies it's not easy to make money as a trader but when someone gets good at trading then surely he/she can make enough money in trading.

I would also suggest newbies to stay away from trading as it's not for everyone but surely those who can make a proper trading plan with a proper trading strategy can earn enough profits in trading. Investing is good but as a trader you can invest in Bitcoin way better than those who don't understand the charts.

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