Topic: Trading not a get rich quick - page 4. (Read 1409 times)

With all due respect to him, he's a criminal and a greedy man, it's not strange to me that he skipped the basics and went ahead to do more than he could handle..

He'd probably be thinking everyone was as greedy as him and would only be interested in the looted money.

it was indeed a wrong step, but in that way, I think there will be more experience to be gained from the mistake. Either way, those who go wrong with their trade will leave the market at some point in time they will also come back to trade again. but it is possible that more of them will leave the market with a bad view of Crypto.
almost all newbies to trading also have trouble getting started. but it all depends on how we face the problem and try to correct our mistakes by doing better now. We must realize that everyone's trading ability is different. and also everyone's ability to learn to trade is different.

The goal of most new traders is to use capital and earn more profit in a very short time. Based on these thoughts, they manage the amount of money they have and by taking loans or with the help of family, they make trading decisions.  Basically, the main reason behind their decision-making is that many people only tell them the positive aspects of trading, as a result of which they only hear the positive aspects of trading and become very attracted to trading, and a thought works in their head that I might be trading with too much money then I can earn more profit. But when they deposit money in an exchange and trade any coin and as a result of trading at the wrong time, it can be seen that a lot of money has been lost from their total capital, at that time they get very confused and in order to save their money, they leave their coin at that time thus they put their money at serious risk by trading in the wrong way at the wrong time

That's the idea, people tend to approach trading or cryptocurrency as a whole with the idea of coming and making double there capital in a day! They completely undermine the risk they have to go under take to attain such unrealistic opportunity to making double your capital.
It's possible, it's doable but the risk could ruin you before you even get to start.
Trying to double your income in a day or even make 10% of it daily would require you taking more risk than you could handle and that is something you shouldn't do. It leaves you exposed and you might be met with conditions that you would have escaped.

I do agree that trading is not a get-rich-quick scheme. But, it requires time, effort, knowledge, and experience to become a consistently successful trader. While it is possible to make profits in trading, it's important to approach it with realistic expectations and understand the risks involved.
Trading requires a solid understanding of market dynamics. Managing risk and having a disciplined approach is crucial to navigate market volatility. Trading is about assessing probabilities, not predicting outcomes with certainty. Realistic expectations and continuous learning build your confidence level and capability to take risk and make yourself a good trader/investor.

Correct. Even though to be proficient in trading requires a long learning process. either theoretically or practically. And even if a person is theoretically proficient (knows various analyzes such as fundamental, technical and sentimental) but if it turns out that he does not have enough experience in real trading. So that person still has the potential to lose if he doesn't know about emotional management in trading (trading psychology). And to master emotions in trading or in the sense of strengthening the mentality in trading, it takes time to get it. because emotional management and the formation of mentality will usually get better with more experience in trading practices.

because of course we always need adaptation to the crypto market or whatever market we enter to trade. Experience and analysis can make us know where the market trend is going and vice versa when the market trend will stop and the like. In essence, there is a lot to learn to become a reliable trader. and another fact is that even if someone has become a reliable trader, that does not mean that someone will no longer experience losses. because basically in trading profits and losses are commonplace and can happen to anyone. it's just that people who are already reliable can have a ratio of more profits and fewer losses.

Unfortunately I don't see the whole story about bitcoin being traded but rather crypto and memes, from past experience memes are trash coins with no future potential. That's why this story is far less tragic than most stories involving trading using bitcoins. The biggest mistake of this story cannot be separated from knowledge in the crypto space, so the decision to choose memes and other cryptos is not based on knowledge in analyzing the potential of the chosen coin.

It has never been advised to trade using money that is not ours and sometimes we have to pay attention to volatility every time we try to use other people's money to trade, even if you try to use bitcoin using other people's money.

Wealth will always be proportional to the ability of the capital you have, wealth also needs a process to be achieved and trading is not always able to guarantee profits every time because talking about volatility. It is important to understand that meme coins are trash and have no future, so anyone who wants to trade should try to avoid them.

Regarding the money that is destined for many needs, it is important that you never take risks, that is what happens not only to traders, but also to casino players, compulsive gamblers who always look for a way to win by risking capital. that they should not take risks, and sometimes they do well and win, but when they lose, the problem Increases and causes many deficiencies and that is what should be avoided, especially when there are responsibilities, which is something that should not be justified for Nothing, especially for those who are the head of the family.

Of course trading and investment both not like for rich quickly even you will gonna poor if you have less experience. Every processing is to much hard of crypto market. On time if you taken unless decision then you will face financial problem. I will prepare take to more skills about crypto market then you can expect gainer.

This is to remind us that greed will never make you successful in life, instead it will only lead to a worst situation that will make you live your life miserably. Also, committing crime will never give you an advantage but will always lead you into another crime, so be ready to pay whatever consequences that crime has resulted.

Investing and trading have high potentials to create big changes in our lives, but know that the process is always hard and may even take years before the desired goal is achieved.

Yes many people are thinking that trading are good and they can get rich instant. They don't know that trading are risky too that they can lose or win like gamble. Trading or investing bitcoin is not so easy because some people lose because they buy Bitcoin in high price. So they need to hold it and wait for bitcoin price goes up so that they can get profit.

So many of those who have that line of thought are being frustrated out of trading when they put in all that they got in an attempt to make quick money since they have the mentality that trading is a means to get rich quickly and that is far from being the truth.

There is not much difference between trading and gambling,  since both are of high risk and not a means to make a steady income so trading can't be taken as a business or investment but a gamble since the outcome of the trade is unknown to the traders and only events in the price of the coin that is being traded is what matters.

I think traders become mature now and the idea of becoming rich in week is getting less and less. Now only memecoin buyers have this idea and lost so much also in this. Bitcoin traders know that but it's price will not rise high in week and they also also know that for getting 2x profit they have to wait atleast year or more. Trading can be results in win or loss but the most important things to rake care is coins you investing risk management and money management. if these things be cared k think making profit for any traders will not be difficult.

Crypto trading, or to be specific, Bitcoin trading, is different from joining bounties to earn crypto. Although I understand your point, but in this case, OP is talking about investing in Bitcoin and also trading, some people might not be making profits now for those who bought when the price was a bit high, but those who bought at a very low price will still be in profit at the moment, and when talking about trading Bitcoin, it doesn't really affect the crypto trader or Bitcoin traders. The market situation doesn't affect trader because even during a bear or bull market, crypto traders are still making profit. It's just that crypto trading will not make you earn fast and become rich so quickly; it's still a gradual process, just like buying Bitcoin and holding till a bull market, and one can sell and wait for another bear market so they can invest again and wait for a bull market. All are gradual processes, and anyone who thinks the market is so down now can use the opportunity to DCA BTC.

Many people who always have the thought that things with trading will improve and that from one day to the next or in a matter of weeks they will be rich is the worst lie they can also get, also a person who does not have a high financial education can lose much faster, there are occasions where the novices simply make a tag as if it were a bet and yes, they win, but they win by luck, this is something that should not be, because that luck can end at any time and it can stay with nothing, I have seen sad Cases where that happens to many.

The fact remains that, In a financial market, there will always be losers and winners, in what ever coin or token we decide to trade, there will always some people who would win and some people who would loss, be it an original crypto currencies like bitcoin, Ethereum, bnb, Renec, etc which are coins with great utility, or meme coins like doge, Shiba, pepe, floki and so on.

 And I think the irony of the who thing is that, even the so called meme coins have made so many millionaires over night, or should I say, in the shortest period of time, so let's just say that trading or investing in meme coins is a gamble, and the man in the story is just too unlucky, and the biggest mistake he also made is not using his own money, but rather embezzling money belonging to his place of work, to the ton of $5 million dollars, shows this man is also very bad at money management.

More like an experienced scammer to me since a lot of people out there promoting something that will benefit themself rather than guiding new people for trading. Everyone looking for new opportunities in this crypto market that's why not wondering many people thinking about becoming rich in trading crypto but we should able to control our greed since our greediness will turn our profit become losses in a short time.

I don't blame beginners having the mindset that trading can make them to become rich, most of the experience trader don't tell beginners what they are suppose to know.  Experience traders only talk about things concerning trading that will attract beginners to their content that will be benefit to them. Most beginners later learn from their own experience by realising trading does not make one to become rich quick. I had the mindset of becoming rich in trading as a beginner but my experience thought me the reality of trading.

Gambling is the only way to get rich quick but you can also lose all your money very fast as well. Trading is different, to make money from trading you have to dedicate time to learn and practice therefore it isn't a get rich quick thing to do. If you consider trading as getting rich quick and gamble with your trade, you'll lose horribly, others have tired and it doesn't work that way.

Trading can be very profiting for you when you learn how to trade rightly. You might make as more money as you wanted when you take out the mindset of quick riches but dedicate your time to learning how to trade properly. All professional traders has dedicated time in the past.

In the profit grouping company will also influence to determine the next step. it's the same as after we get a profit, some of it is called pocket money, it can be allocated to a new line of business, maybe we don't really understand it yet but have the courage to run it, because this is like pocket money, after it's for snacks it will disappear, while the allocation to a new field this is also the same in principle, where if it doesn't work it's okay, but if it works then we will get a new source of income, so there is one business allocation that can be said to be running without any specific calculations, because in its nature it is burning money