Topic: Trading can ruin you - page 3. (Read 2042 times)

This is how advertising works, those who sell trading strategies, or some kind of training courses show trading as a very profitable business in which everyone can succeed, so there are many who want to try themselves in this business.

But the beginner does not take into account that the market does not forgive mistakes, and the one who has the best knowledge will always be several steps ahead of any newbie. At first, in any case, there will be losses, but they can be minimized if you first study all the available theory and start applying it when you already have the necessary knowledge.

Certainly true what you're saying applies to beginners, but it's different for professionals. However, even professionals inevitably face moments when they hit rock bottom in their journey.

Absolutely, it should be that way. I'd like to remind that in life there are always ups and downs, just like a business with profits and losses. However, these can be minimized by gaining more experience on the journey toward success.

of course preparation is mandatory in any kind of crypto investment and any other offline investment, Because you need to put your hard income, If you have money and just picking random coins investment you will never success in trading. And loss is common things in trading to new and old traders as well.

I think that trading can definitely be profitable but also as you stated can be definitely risky, you’re basically gambling if you enter without proper knowledge. I agree on that. I've myself have faced setbacks over the years but have learned to tread cautiously.  But without losing a little how will they gain experience. At least that what I think.
For newcomers, a safer approach would be buying and holding, and selling when prices rise. Futures trading is complex, and best left to experienced traders. However, while people may discourage trading based on bad experiences, with sufficient caution, research, and guidance from a mentor, It is possible to succeed. But without these safeguards, it will always be highly risky. I'd personally advise newcomers to limit trading activities to around 70 to 80 percent of their equity, focusing on a majority of their holdings on bitcoin to minimize potential losses and 20 to 30 percent in Altcoin to actively trade and gain experience gradually or an amount you’re willing to lose.
If you have any questions you can contact me via my Discord: https://discord.gg/dCvaBZWNcG

Nervousness is a normal feeling, it's just that excessive nervousness indicates that you are still not mentally strong in trading, emotional and mental stability is needed when trading, because trading is a risky activity, so people who are too nervous will usually end up trading losses.

Beginners who do futures trading are also beginners who are gambling, i have never heard of beginners who were successful in doing futures when they were still fresh in trading, spot trading is the best for beginners because it is a learning medium and also builds skills, mental, emotional.

You would really be able to realize that on the time that you would really be that experiencing losses which are made up by those signals or trading tips or whatsoever we do call on it or simply they had just.
stopped on providing signals then you would really be finding yourself that being too fucked up on which it is really just that a normal approach. People would really be able to see the importance of self
skill and knowledge on the time that they had saw that it is really that something relevant on a certain situation. You wont really be able to progress or to move forward if you are really that heavily
relying into others calls and suggestions.

It would really be that always wise and would really be recommendable that you should really be learning trading on your own and able to stand on the time that you do decide to take the market.
Trading does involved risks and if you are someone who dont really like on dealing up with something risky then this market isnt for you, if you are then get prepared on what are the
bad things or cons that you would be able to encounter specially that market is unpredictable. Trading can ruin you? Of course when it comes to finances and if you arent that
prepared or wise on taking risk management or simply with your capital.

A newbie going into trading without the knowledge of it, what is he thinking of or who does he want to impress at the first instance? That's what he should be asked before giving him any advice.

A normal human being can't think of starting up something he or she has less knowledge of, not to mention trading which requires someone having the knowledge and expertise in it.

Trading is not the one that ruins, that is actually true since it gives people the benefits of earning money if they do it "the right way" as you have mentioned such things as the patterns, steps, etc. But is not as easy as it sounds even if you already have enough knowledge and experience, cause trading is a complicated system that you would literally need to think of many things just to earn money and stop loss. If you are doing good in trading and feel like you belong to the trading industry then that's good, but if you are sacrificing your mental, physical, and emotional health, then I could say that trading could actually ruin you. Simply for that reason I've preferred investment as I could just simply do DCA without stressing myself, this is only my personal thought no pressure on newbies, cause trading is literally beneficial and profitable when you do it the right way.

The problem is that self-control is a difficult thing to do especially if you're trying to suppress the feeling of winning which is difficult because your mind is subconsciously trying to tell you that you have to rake in more wins and hope that you can get lucky again with your trades but then it doesn't go your way and then your ecstatic feeling will be replaced by frustrations and then those frustrations will make you do more bad trading decisions leading to more losses, trading isn't the same as gambling the effects that they give wwhen you win at gambling and when you earned a profit in trading is the same, the only difference is that with gambling you don't really have control on the odds while in trading, just a little analysis and some smart guessing and you're good to go.

I don't believe that its the trading that ruins the person though, not exactly trading but it's more like the person's behavior towards trading is what's causing the ruin, what I mean by that is that when someone's obssessed with trading, they forget the fact that it's not just the only thing that they have to do in life and so they end up having to neglect their other responsibilities because that person wants to focus on the market and watch it 24/7 which isn't the healthiest behavior.

Trading is not what ruins, we do that on ourse from the way we trade, there's alot of benefits we get when we are doing things the right way, we also have to know this that trading may has its own risk but everything is to be done on the atmosphere of safety under extreme caution with the way we trade, the pattern we use and the other steps we take while performing our trades, most traders benefits from trading and not that they got ruined completely in trading.

Someone who has the impression of it being easy will find himself look at that side that it's really not. When you have the experience of trading, you'd definitely say that it's not easy as what people think. For the inexperienced people that are too optimistic with trading, I'm not discouraging you. But don't listen to the fairy tale stories that you've been reading on the internet because not all of them are good as what you think.
Most of them also gone through a difficult process before even winning a single trade.

I have seen people coming into the market by seeing some ads of people making profits by seeing a moving lines on phone.
but they don't know exactly what it is they just trade the lines like when the lines goes down we need to buy and when line goes up we need to sell.
they treat this like gambling because influencers don't tell them what is trading actually. these false ads are very misleading they show I deposited $10 and made $700-$800.

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it's enough to ruin a life of a new comer.

Indeed, trading seems easy, but after we enter it and do it, we find out that trading is difficult and needs to be learned through a process. Therefore, don't think that trading is a quick and easy way to make money, because most people run it like gambling. Only a few traders can survive, because they also go through difficult phases, and of course most have experienced losses and difficulties in trading

It is a gamble when you trade and you have no idea of what you are doing. That's what people are doing when they hear successful people and their source is exposed as trading. Those listeners think that if these people were able to do it, they can also do it as it looks easy to trade.
The logic is very simple and that is to sell high and buy low, it seems easy right? But that thinking is just going to put them down because in no way that trading is easy. It sounds simple but complicated.

I'm a bit confused with your statement, dude. 
If we want to trade coins, surely we must have good budget, we can't trade with knowledge only.
Well, we are talking about something that can support the success in trading. I think every one is correct about knowledge. Knowledge and experience are 2 important parts to support the success in trading. If we trade with our good budget only without sufficient knowledge and experience, we probably end up with losses.

If we have big funds, it is okay to invest in crypto coins as well. Commonly, people are investing in crypto coins, specifically in Bitcoin. So, trading is just an optional job for them.

Without a doubt, it can ruin a person, especially if the person is very gambling and has at least once felt the taste of x10 or x100, the main thing is to keep yourself in control and not trade on emotions, this does not lead to anything good and you are right in saying it, it can lead to the consequences of ruin and It may already be too late.

Let me say it's obvious that you know little about trading, and no matter how much people try to rely on what they derived from social media to trade, they can't progress in their trading experience. like you sounded too, it would take time and a whole lot of effort to be successful through this approach, why then not use the time to pursue the right way of learning and trading to have the right trading understanding that would forever stick in your head?

Nevertheless, I agree with you that loss is part of trading, the way we allow it and disallow it in our trading matters to our success. In trading, it's either we lose or we gain, and since our aim is to win, we should rather find the right trading system that will make that possible and not entertain weakness due to that mindset. We should work more on the psychological and managerial part even as we strive to possess a trading system that will win more than it loses. Also for every trader, there must be a well-calculated risk and money management in the trading, and when the trading strategy itself is good, there is no way we will not be beating the losses down.

It's ideal for beginners to trade only in spot because you will not lose if your don't sell your crypto. Unlike futures, there's a liquidation of your margin. And there's more risk, if you don't understand what is Isolated and Cross, you will risk of losing all your funds in futures if the market goes against you. So like you've said, better to stay away from futures if you don't have enough knowledge from it.

Seeing and reading the current situation and market conditions is very important for every trader, because this will not only help them achieve profits, but will also help them not immediately experience losses while trading. Because apart from this, every trader must also have a strong mentality when they have to face a downturn with a situation that is detrimental to them if they sell their holdings after having bought at a higher price. So finding out about news and market conditions is very important and also very necessary before starting trading.

Words of the wise. You feel you can do it and you can, however the urge to get their quicker will spoil your progress. 

Key is to not give up.

What also helps is you have a focus on other things. Its really easy to get immersed in charts and before you know it the
day is up. Not a way to live, and usually if thats the case, you're doing it wrong.