Quit cryptocurrency trading its not for you! - page 18.

Ludji

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Quote from: deonyx on June 03, 2018, 04:20:36 PM

The reason why there has been a serious insurge of people into cryptocurrency mostly populated by newbies and novices is because someone somewhere told them they can make 100% to 500% in crypto within few days, lol but how many really had such experience.
The worst still is that some don't even think learning is necessary in the crypto market, and so they just invest their money in crypto and manage to know how to open and close a trade, and as soon as any candlestick chart turns red they dash their coins into the market in fear to cut off more loss and the cycle continues till nothing is left.

If you are doing this at the moment just quit crypto trading its not for you.

Trading is stressfull and definitely not for everyone. However, you can't start your trading career without getting burned first(you really can't, everybody suffers a big loss at one time or another). What you can do is minimise the losses you make by doing good research about the coin you are trading and about trading in general. That way you at least have a good knowledge foundation, if you lack the experience.

Scavagers

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Activity: 364

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Quote from: deonyx on June 03, 2018, 04:20:36 PM

The reason why there has been a serious insurge of people into cryptocurrency mostly populated by newbies and novices is because someone somewhere told them they can make 100% to 500% in crypto within few days, lol but how many really had such experience.
The worst still is that some don't even think learning is necessary in the crypto market, and so they just invest their money in crypto and manage to know how to open and close a trade, and as soon as any candlestick chart turns red they dash their coins into the market in fear to cut off more loss and the cycle continues till nothing is left.

If you are doing this at the moment just quit crypto trading its not for you.

Trading is not actually for anyone just like how piano is not meant for everyone.In the case of learning piano, you can always learn the music and how to play the instrument but if you did not have the skill then you will not be like the best pianist. In trading scenario, it also requires skill and knowledge and not all have been blessed with that skill. Yes, you can trade, you can learn how to trade but if you are not meant for it, then you won't master it.

Ewox

sr. member

Activity: 812

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I actually quite agree with what the OP said, and yes a lot of new comers are coming in and joined trading with cryptocurrencies because somewhere someone told them they can quadruple their money if they invest in cryptocurrencies. But its not right to say trading is not for you, we can instead encourage then to learn about thrm because they will benefit from it anyways.

Hell-raiser

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Quote from: rickadone on June 20, 2018, 12:56:54 PM

Quote from: Barcode_ on June 19, 2018, 04:24:02 AM

Crypto-currencies trading does not really suits every traders, some traders are afraid to see the huge price drops in crypto-currencies but this is actually a very common sight in crypto-currencies trading, and I would say the traders who are able to hold their bitcoin and altcoins for a long period of time during a bear market would stand a higher chance to make more profit than others.

Some really should not even be called traders as long as they did not go through the path of learning and garnering some experience before going ahead to start trading. Trading is a profession and one that comes with a lot of decision making which is hard to make such decisions without very good knowledge.

As long as wannabe traders start getting the idea that this is a risky and volatile market, I guess that would make them to understand why they should not just assume things will go smoothly for them without any knowledge.

Not that I particularly disagree with your point or anything, but let's be honest, for at least a couple of years (starting early 2015), it had been just about buying at whatever price and waiting patiently till your investment doubles, triples, and so on. So it's no surprise that a lot of people got used to this never-ending growth. In simple terms, your gross profits were determined not by your trading skills and expertise but rather your patience and "profit tolerance", by how long you could bear to see your profits multiplying before cashing out.

But these days are apparently over by now.

sumanto

full member

Activity: 462

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yes you are right cryptocurrency does have its own risk fixed with trading with cryptocurrency I can get very much profit that you can do if you know the right time to buy and sell coin. I decided to keep trading cryptocurrency.

btcmegastar

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Quote from: LooBaao on June 23, 2018, 05:48:49 AM

Quote from: jojowar on June 21, 2018, 08:06:13 AM

Trading in cryptocurrency is not profitable to everyone. The one who has more knowledge in trading or cryptos they have will win. It was just like gambling with ideas or cheats and there will be winners and losers.

If you have the knowledge and patience, you will win and earn profits from the cryptographic market, the cryptographic market is not for those who are weak and have no willpower. Where you can earn a profit, but mostly you have the ability to generate income for yourself.

People who are panic aboutt the present situation will always sell when the price starts increasing. People who have knowledge will always hold the coin as long as possible until the piece starts increasing. People who are holding will always make a good profit when the market starts recovering.

LooBaao

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Quote from: jojowar on June 21, 2018, 08:06:13 AM

Trading in cryptocurrency is not profitable to everyone. The one who has more knowledge in trading or cryptos they have will win. It was just like gambling with ideas or cheats and there will be winners and losers.

If you have the knowledge and patience, you will win and earn profits from the cryptographic market, the cryptographic market is not for those who are weak and have no willpower. Where you can earn a profit, but mostly you have the ability to generate income for yourself.

Clark05

sr. member

Activity: 1274

Merit: 263

There's a lot of trader now are experiencing losing their money because they the market now are turning into red or decreasing. The most best to do is to stay to trading and don't give up because once you sell all your coins and the price increase again you lose your money and never back again your capital.

mia khalifa

full member

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I think if you exit trading cryptocurrency you only people who get the loss because with cryptocurrency actually you can get a lot of profits you have to be more diligent to read to get the benefits.

bitcoinmasterlord

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Quote from: mega on June 22, 2018, 01:30:49 PM

Actually trading is an art and everyone is not an artist,Trading is for those having passion about it.Being successful trader need education about crypto world and coins and well versed about the factors which effect the market.No doubt trading need efforts and patience but trading is also high profitable job you can earn more in short time but first learn and then earn.

According to me, trading is a business if you take this seriously then 100% you will succeed in this business but it's not an easy job if you don't have skills once or twice you can make a profit just by your luck but to become a pro trader you must spend your time in crypto world. you must learn how to trade when the market is red. most important is don't give up when you lost money because in trading we can earn back our lost it is possible.

strideynet

sr. member

Activity: 412

Merit: 250

a large number of newcomers to the market need to make a lot of money turnover. without beginners the amount that you can earn very much reduced, so everything is interconnected

TheUltraElite

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So anyway, I applied as a merit source :)

Quote from: Whosdaddy on June 21, 2018, 07:33:16 AM

That mentality was exactly what made people to join FOMO, some even did go to the extent of borrowing to be able to enter into the market and now suffering huge loss and unable to pay the loan.

Trading carries a risk and one should not trade more than what they can afford to lose. Borrowing money in this market and using it to make some cash will have some bad consequences surely. They wont be able to pay back now and have to suffer higher debt.

Quote

It is absurd to think that the market is a get rich quick scheme when indeed it is not, and it is because of this they get to panic easily when things start beginning to go unexpectedly in the market, and in such state, making decision without applying emotion for those in this category is impossible.

For the humans their emotions tend to leave a mark. The average people trading are those hoping to get huge returns within minutes and will start complaining and crying everytime the market falls. They dont have patience nor do they have control over emotions or determination to hold. Nothing can be done for those who dont want to help themselves.

mega

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Actually trading is an art and everyone is not an artist,Trading is for those having passion about it.Being successful trader need education about crypto world and coins and well versed about the factors which effect the market.No doubt trading need efforts and patience but trading is also high profitable job you can earn more in short time but first learn and then earn.

beerlover

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Quote from: arnoldrimmer on June 18, 2018, 07:19:27 PM

well this is true at some point, if you are just a newbie you can not expect to make millions of dollars because it is not going to happen, that is the main mistake from most people

Any newbie that is even expecting to start making something huge immediately from trading is joking and that idea of wanting to get rich pretty fast is what has put a lot of them in jeopardizing their investment in the long run.

Trading comes with a lot of attention to details, learning and trying to find ways to do it better but as it is, so many newbie traders do not always want to go through that path and feel gambling their way through they are all aware of that trading will be better for their efforts. We never need to quit trading and if we are not good at trading then taking some rest may be a good solution for finding ways to make money with trading.

Andreina0107

jr. member

Activity: 76

Merit: 4

Yes, I agree with you and also, for that,
There are two factors that move the crowd in the market, greed and fear of losing, and how to avoid this?
-Putting your brain to work and investigate, -look for the bitcoin graphics
-Looking, watching videos,
Educate yourself - you do not use borrowed money and credit monet

You must use your brain during corrections, you must use your brain during trading and above all you must use your brain when you have just entered the trade.

gabmen

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Quote from: jojowar on June 21, 2018, 08:06:13 AM

Trading in cryptocurrency is not profitable to everyone. The one who has more knowledge in trading or cryptos they have will win. It was just like gambling with ideas or cheats and there will be winners and losers.

Well it takes time and effort really to be efficient in trading and even then, there's ni guarantee of a successful trade all the time. You have to be prepared for things not going your way if you want to be a trader and how to be positive and composed amidst all that

jojowar

member

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Trading in cryptocurrency is not profitable to everyone. The one who has more knowledge in trading or cryptos they have will win. It was just like gambling with ideas or cheats and there will be winners and losers.

Whosdaddy

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Quote from: littlebill16 on June 19, 2018, 01:10:31 AM

To an extent I think you are right and I agree with your point that a lot of people believe cryptocurrency is a quick and easy way to turn money you already have into a massive amount. However, I dont think that it is right for a person to tell another person where the do and dont belong. If they want to invest and sell quickly, let them and let them learn the hard way. Cryptocurrency does require research and keeping up with, but experience is going to also really help a person grow.

That mentality was exactly what made people to join FOMO, some even did go to the extent of borrowing to be able to enter into the market and now suffering huge loss and unable to pay the loan.

It is absurd to think that the market is a get rich quick scheme when indeed it is not, and it is because of this they get to panic easily when things start beginning to go unexpectedly in the market, and in such state, making decision without applying emotion for those in this category is impossible.

wayancrypto

member

Activity: 462

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When started in crypto trading is for the better use small capital first to test our skill and knowledge about trading strategy. Actually when you jump in to crypto market you should have skill about trading to maximize the profit. And compared forex trading, actually crypto trading is more easy to gain profit, now we should have extra patient and do not greedy.

monster2

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Quote from: Idrisu on June 04, 2018, 02:15:44 AM

I have said this several times that trading is not for everyone and for you to became a successful traders and investors you must developed your skills and knowledge including experience on how to analyze the assets, money management and execution of trade. However, the market still need the newbies in under to create liquidity.

It's just as small as trading and does not even know how to get it right now.
they thought it was easy and I did not understand that the price had to fall and that I needed to increase the price of tokens and altcoins as I think they really need to study and I think it's good advice for you to just trade in trading .

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