Trading not a get rich quick - page 6.

Smartprofit

legendary

Activity: 2338

Merit: 1775

Catalog Websites

Quote from: Oshosondy on April 28, 2023, 02:42:22 AM

This is another sadden story again about someone that just supposed not to trade crypto and meme stocks. Trading and investment is not a get rich quick. Meme stocks trading is like gambling. Coins like bitcoin may be promising, but what if you invested at $50000, bitcoin price now at $30000. Bitcoin will get to all-time-high but not good to use the money that is not yours.

As for trading, not that it is not a get rich quick, but you should use the money that you can afford to lose. The man may wanted to return that money, but crypto and meme stock trading landed him in prison.

Quote from: https://cointelegraph.com/news/ex-cfo-that-stole-5m-to-trade-crypto-and-meme-stocks-gets-3-years-prison

The former chief financial officer of a special purpose acquisition company (SPAC) was sentenced to three years in prison after embezzling $5 million, which he used to trade cryptocurrencies and “meme stocks.“

Read further about it: Ex-CFO who stole $5M to trade crypto and ‘meme stocks’ gets 3 years in prison

I have met such financial directors who believed that the free cash of the company should not be kept in a deposit account, but should be used for high-risk investments (for playing on the Forex market, for buying "junk" bonds, for buying cryptocurrencies).

At the same time, such financial directors sincerely believed that they were doing a great service to the head of their company.

However, this is a big mistake. The goal of any company is to make a profit from entrepreneurial activities. Even at the stage of creating and registering an organization, the owner of the company chooses the types of entrepreneurial activities that he wants to engage in.

Ordinary organizations are not created to make investments.

The employees of such organizations do not have the necessary experience to carry out such activities. Such activities should be carried out by specialized investment funds.

awik p

full member

Activity: 1526

Merit: 111

Pepemo.vip

Quote from: indah rezqi on May 09, 2023, 04:02:14 PM

Quote from: Oilacris on May 09, 2023, 03:17:30 PM

Trading isnt a rich quick scheme or method on making yourself believe that it would be something that would pull you into your current financial status.
Its an opportunity though for you to make some bucks or profits but of course there would be things needed for you to learn first.

I agree about this one because that's how it is. While some traders with big budgets can generate huge returns, it is very difficult to find them among the other pool of traders. Strategy and budget play a role in the success of a trader but if trading is to get rich quick then I think this plan will be very difficult to achieve.

Futures trading may have been widely used by some traders expecting multiple returns so far, but I don't think it's the best option for accelerating wealth. Futures trading is good to consider as long as the trader understands the strategy and is able to analyze price movements, but it's difficult so the risk of loss is much higher than the return.

luck that makes beginners trade and get rich right away. but not necessarily they will survive to become even richer from trading results. therefore the main thing is trading knowledge that will lead us to become rich from trading results, considering that many people misinterpret trading, so what happens is the opposite, not the wealth they get, but the wealth runs out because trading is addictive and destructive psychology and common sense

Septex

member

Activity: 45

Merit: 1

I think it is not possible to get rich very easily or very quickly by investing. In the field of business, there are times when a lot of money is lost. However, if you want to make a profit by investing, you must wait patiently. Lack of people can get rich by investing in bitcoin but actually it is not.Investing in bitcoin requires investing for long term. So it is not so easy to become rich, of course, to become rich, you have to have confidence in investing and plan for the future.

EarnOnVictor

hero member

Activity: 826

Merit: 641

Leading Crypto Sports Betting & Casino Platform

Quote from: fullhdpixel on May 09, 2023, 01:51:15 AM

Quote from: LogitechMouse on May 03, 2023, 09:10:21 AM

After my experience with SAFEMOON, I will never, ever try investing into meme coins again.. or maybe I will with DOGE, if I got bumped, and unfortunately my head got hit.

Trading isn't a get-rich quick scheme. I hope that traders know that, and I think the ones who has this kind of thinking when it comes to trading are the new traders who they think that they can get rich in trading that easy. If only trading is that easy then all of us would've been rich by now. Now that we have futures trading, most of the traders especially the newbie ones are jumping, and trading on it not knowing the risks that they can face while trading on futures.

Well, it's good that the perpetrator got arrested with what he did. There are some people out there who did the same, or got even higher amounts of money, but didn't get arrested unfortunately. Overall, I hope this serves as a lesson for those newbie traders out there that don't touch meme coins because anytime soon, they will just diminish alongside with your money if you invested into it.

I think you should not do it with doge neither, there is no reason to invest into meme projects no matter how big they look. Doge may look like it did alright, but it did it and now it's ended. You should not be buying anything that will make you lose money like that, it is not a good idea and you should try to avoid it as much as you can.

A lot of people end up considering doge had a big increase so it may have it again, but when you look at the market cap and the ranking of it, there is no room for doge to grow anymore, not a lot at least, it can grow with the market obviously, and maybe even gain a place or two, but the risk outweights the reward by tenfold easily. That is the best meme project, and even that one sucks, so imagine about how terrible the others must be.

You have valid points, memes coins generally don't have any solid project backing them, they are only enjoying the demands in the fun when they appreciate. The beauty of it is to make your short-term money from them and remove your money as fast as you can after some reasonable gains, they are not sustainable. However, for those that are good at analyzing the market, they will always get to outsmart Dogecoin if they will not mind the time it would be sluggish. There are sure times that it will be worth the risk and energy if one could be observant and persistent.

Meaning that I will not totally write it off because it's a meme coin or because of the high market capitalization.

indah rezqi

hero member

Activity: 1512

Merit: 874

Quote from: Oilacris on May 09, 2023, 03:17:30 PM

Trading isnt a rich quick scheme or method on making yourself believe that it would be something that would pull you into your current financial status.
Its an opportunity though for you to make some bucks or profits but of course there would be things needed for you to learn first.

I agree about this one because that's how it is. While some traders with big budgets can generate huge returns, it is very difficult to find them among the other pool of traders. Strategy and budget play a role in the success of a trader but if trading is to get rich quick then I think this plan will be very difficult to achieve.

Futures trading may have been widely used by some traders expecting multiple returns so far, but I don't think it's the best option for accelerating wealth. Futures trading is good to consider as long as the trader understands the strategy and is able to analyze price movements, but it's difficult so the risk of loss is much higher than the return.

Oilacris

hero member

Activity: 2996

Merit: 609

Quote from: fullhdpixel on May 09, 2023, 01:51:15 AM

Quote from: LogitechMouse on May 03, 2023, 09:10:21 AM

After my experience with SAFEMOON, I will never, ever try investing into meme coins again.. or maybe I will with DOGE, if I got bumped, and unfortunately my head got hit.

Trading isn't a get-rich quick scheme. I hope that traders know that, and I think the ones who has this kind of thinking when it comes to trading are the new traders who they think that they can get rich in trading that easy. If only trading is that easy then all of us would've been rich by now. Now that we have futures trading, most of the traders especially the newbie ones are jumping, and trading on it not knowing the risks that they can face while trading on futures.

Well, it's good that the perpetrator got arrested with what he did. There are some people out there who did the same, or got even higher amounts of money, but didn't get arrested unfortunately. Overall, I hope this serves as a lesson for those newbie traders out there that don't touch meme coins because anytime soon, they will just diminish alongside with your money if you invested into it.

I think you should not do it with doge neither, there is no reason to invest into meme projects no matter how big they look. Doge may look like it did alright, but it did it and now it's ended. You should not be buying anything that will make you lose money like that, it is not a good idea and you should try to avoid it as much as you can.

A lot of people end up considering doge had a big increase so it may have it again, but when you look at the market cap and the ranking of it, there is no room for doge to grow anymore, not a lot at least, it can grow with the market obviously, and maybe even gain a place or two, but the risk outweights the reward by tenfold easily. That is the best meme project, and even that one sucks, so imagine about how terrible the others must be.

Always go for projects which does have actual utility on which you could somewhat be able to assure yourself that you are really that indeed dealing with something legit and not some meme or degen coins.

For DOGe then its a meme and this is where meme season had started on which there are lots of uprising meme coins who do gain value in a short time but still didnt last that long because the hype is over.This is something that we must avoid and if you dont like on having that riskier approach then it would be that just good if you do go into those projects which are really that worth risking.

Trading isnt a rich quick scheme or method on making yourself believe that it would be something that would pull you into your current financial status.
Its an opportunity though for you to make some bucks or profits but of course there would be things needed for you to learn first.

Bushdark

sr. member

Activity: 1008

Merit: 262

Vave.com - Crypto Casino

Quote from: ?? on ??

For me, trading is a slightly different way of working. It should be understood that this option requires the trader to constantly work on his knowledge. It is through knowledge that a trader can regularly improve the results of his work.

Just like you have written, one of the things we need to ensure we have as a trader is to make sure that we have the knowledge and acquire the experience that would push us forward so that we are not going to be in the market as someone that do not knowß his right from the left.

Trading should be a continual attempt to be a winner as long as possible. Normally when we started trading, we might to having some loses that might look inevitable but with time, if we keep doing what we are doing and we are upgrading our knowledge and skill, we might be surprised that our winning will commence as soon as possible. That is the efforts in persistence and never to give up to earn more by building more skills.

Games.Bitcoin

member

Activity: 322

Merit: 11

Tontogether | Save Smart & Win Big

That's correct, trading is not a get-rich-quick scheme. While it's possible to make money quickly through trading, it's also possible to lose money quickly. Trading requires discipline, patience, and a solid understanding of the markets, as well as a well-thought-out strategy and risk management plan.

Successful traders understand that trading is a long-term game and focus on making consistent profits over time, rather than trying to get rich quickly. They also understand that losses are a natural part of the trading process and have strategies in place to manage risk and minimize losses.

It's important for anyone interested in trading to do their research, learn about the markets they want to trade, and understand the risks involved. It's also important to start small and gradually increase the size of trades as experience and confidence grow. Trading can be a rewarding and lucrative activity, but it's not a shortcut to wealth and requires hard work and discipline to be successful.

fullhdpixel

hero member

Activity: 2828

Merit: 611

Quote from: LogitechMouse on May 03, 2023, 09:10:21 AM

After my experience with SAFEMOON, I will never, ever try investing into meme coins again.. or maybe I will with DOGE, if I got bumped, and unfortunately my head got hit.

Trading isn't a get-rich quick scheme. I hope that traders know that, and I think the ones who has this kind of thinking when it comes to trading are the new traders who they think that they can get rich in trading that easy. If only trading is that easy then all of us would've been rich by now. Now that we have futures trading, most of the traders especially the newbie ones are jumping, and trading on it not knowing the risks that they can face while trading on futures.

Well, it's good that the perpetrator got arrested with what he did. There are some people out there who did the same, or got even higher amounts of money, but didn't get arrested unfortunately. Overall, I hope this serves as a lesson for those newbie traders out there that don't touch meme coins because anytime soon, they will just diminish alongside with your money if you invested into it.

I think you should not do it with doge neither, there is no reason to invest into meme projects no matter how big they look. Doge may look like it did alright, but it did it and now it's ended. You should not be buying anything that will make you lose money like that, it is not a good idea and you should try to avoid it as much as you can.

A lot of people end up considering doge had a big increase so it may have it again, but when you look at the market cap and the ranking of it, there is no room for doge to grow anymore, not a lot at least, it can grow with the market obviously, and maybe even gain a place or two, but the risk outweights the reward by tenfold easily. That is the best meme project, and even that one sucks, so imagine about how terrible the others must be.

_BlackStar

legendary

Activity: 1064

Merit: 1228

Playgram - The Telegram Casino

Quote from: molsewid on May 08, 2023, 10:53:10 AM

Well some other people are fortunate to join the trend, some other people also just started to invest in crypto because they heard this thing but the thing is new people to crypto should not only rely to meme coin because there are a lot meme coins arises as well they should learn to choose the safest token or coins to invest with. And not rely only to those coins that are being promoted by someone else.

Ignore the coin memes, opt for bitcoin instead - it offers you a great investment experience rather than gambling on the volatility of meme coin prices. I know some meme coin investors have made huge return, but I'm sure there won't be many investor afterward getting the same amount of return because the meme coin hype will end itself.

One thing is true - don't ever imagine that meme coin will make you a millionaire anytime soon because in most cases, meme coin will simply value its initial investor more.

molsewid

hero member

Activity: 2170

Merit: 530

Quote from: irhact on May 08, 2023, 08:54:10 AM

People still see meme coins as a good investment way to make quick and some of them are very lucky because they make good money from them but it's the late comers that gets dump on as they won't have the chance to sell at high prices. For example, Binance exchange just listed $PEPE and $FLOKI a d the the two projects pumped but now it's dumping.

Since exchange keep listing this memecoins and a big exchange like Binance exchange has also listed them too, people will always think they can make quick money by investing in newly launched memecoins but they'll get scammed and keep on losing money.

Well some other people are fortunate to join the trend, some other people also just started to invest in crypto because they heard this thing but the thing is new people to crypto should not only rely to meme coin because there are a lot meme coins arises as well they should learn to choose the safest token or coins to invest with. And not rely only to those coins that are being promoted by someone else.

irhact

hero member

Activity: 616

Merit: 749

Quote from: Rockstarguy on May 06, 2023, 05:24:33 AM

Sometimes it is Greed that makes people think they can get money quick if they invest in meme coin with better profits. This set of people thinks meme coin is cheap and it will rise faster, their desperation of making money makes them to have so much confidence in investing in this meme coins. With what has been happening in investing meme coin people still have courage to make it good option to invest, times without numbers we experienced so many bad events in coins like this but yet it hasn't thought people lesson to stay away from it. Bitcoin is the most reliable coin to invest without any worries.

People still see meme coins as a good investment way to make quick and some of them are very lucky because they make good money from them but it's the late comers that gets dump on as they won't have the chance to sell at high prices. For example, Binance exchange just listed $PEPE and $FLOKI a d the the two projects pumped but now it's dumping.

Since exchange keep listing this memecoins and a big exchange like Binance exchange has also listed them too, people will always think they can make quick money by investing in newly launched memecoins but they'll get scammed and keep on losing money.

imamusma

hero member

Activity: 1386

Merit: 731

Leading Crypto Sports Betting & Casino Platform

Quote from: borovichok on May 07, 2023, 12:50:40 PM

Memecoins are affordable and popular in the market. It is extremely simple to invest in the project, but it is not worth placing all of your hopes in them.

Meme coins are also profitable, but definitely don't put your entire budget there in the long run. I agree that meme coin is suitable for trading with a small budget, but it's also not wrong to put all the budget if you can take all the risk because of the price volatility. Just like the showoff said, take your profit as soon as possible when the market is green and get out as fast as you can while you are profitable.

I also trade coin memes for small amount of money, but the above advice have been very useful to me. But only within reasonable limits and don't push it too much because I understand the coin meme hype won't last long.

ShowOff

legendary

Activity: 2618

Merit: 1181

Quote from: borovichok on May 07, 2023, 12:50:40 PM

Memecoins are affordable and popular in the market. It is extremely simple to invest in the project, but it is not worth placing all of your hopes in them. They fluctuate steadily, and they have a distinct season when they make big moves in the market. Good timing also assisted traders in determining when to buy and sell meme coins.

Meme Coin isn't a great choice for a long-term investment, but it might be good for making a few trades as long as the hype is strong. I didn't, but if you want to do it then take your profits as soon as you see the price going up. Meme coin prices are also frequently manipulated by whales, so be careful if you're putting a big budget out there in the long term.

Beginners are discouraged from trading with meme coin as the volatility and risks are much more unpredictable than most of the other popular altcoin. Indeed, meme coins can provide returns, but instead it has become a trap that has made many trader have to accept losses.

borovichok

hero member

Activity: 1148

Merit: 518

Quote from: Rockstarguy on May 06, 2023, 05:24:33 AM

Sometimes it is Greed that makes people think they can get money quick if they invest in meme coin with better profits. This set of people thinks meme coin is cheap and it will rise faster, their desperation of making money makes them to have so much confidence in investing in this meme coins. With what has been happening in investing meme coin people still have courage to make it good option to invest, times without numbers we experienced so many bad events in coins like this but yet it hasn't thought people lesson to stay away from it. Bitcoin is the most reliable coin to invest without any worries.

Memecoins are affordable and popular in the market. It is extremely simple to invest in the project, but it is not worth placing all of your hopes in them. They fluctuate steadily, and they have a distinct season when they make big moves in the market. Good timing also assisted traders in determining when to buy and sell meme coins. For example, those traders who invested in Shiba Inu and GMT gained big profits from them; nevertheless, look at the current chart of these memecoins; it lacks a strong road map, and most professional traders regard it as a dump. On the market, desperate traders make critical, disastrous decisions. It is essential that we trade with balancing motions.

Cryptomiles1

full member

Activity: 798

Merit: 134

Quote from: Rockstarguy on May 06, 2023, 05:24:33 AM

Sometimes it is Greed that makes people think they can get money quick if they invest in meme coin with better profits. This set of people thinks meme coin is cheap and it will rise faster, their desperation of making money makes them to have so much confidence in investing in this meme coins. With what has been happening in investing meme coin people still have courage to make it good option to invest, times without numbers we experienced so many bad events in coins like this but yet it hasn't thought people lesson to stay away from it. Bitcoin is the most reliable coin to invest without any worries.

This is absolutely correct because without this mentality I don't think he would lose such amount to memecoin. This is why I often encourage people to invest in Bitcoin instead of altcoin, I had some discussion with friends then while they were trying to make an option of investing on Shiba and Dogecoin at their pick price so when they asked for my suggestion I just discouraged them because they might not bear the lost and I know those guys how they do panick over any slight lose of investment. At then not too long the market dip and they came to thank me for not allowing them to go with that decision of investing in altcoin.

ItsCrafty

full member

Activity: 826

Merit: 135

Tontogether | Save Smart & Win Big

Quote from: Rockstarguy on May 06, 2023, 05:24:33 AM

Sometimes it is Greed that makes people think they can get money quick if they invest in meme coin with better profits. This set of people thinks meme coin is cheap and it will rise faster, their desperation of making money makes them to have so much confidence in investing in this meme coins. With what has been happening in investing meme coin people still have courage to make it good option to invest, times without numbers we experienced so many bad events in coins like this but yet it hasn't thought people lesson to stay away from it. Bitcoin is the most reliable coin to invest without any worries.

every person has taking profit in mind when he invest in any token. nowadays memecoin profit is much better than promised project which is the main reason the marketcap of these memecoin is increasing high than other coins. We all know pepe, floki and Shub coins are just meme coin and these is no real usecase of these coins but community want it.

People making big money with these meme coins. we can also make profit from these but we must remembered that every memecoin will not perform like pepe. if we research well and have a straight eye on listing partner, community and other update then as a early supporters we can make big profit which we cannot get in give years from trading and holding btc, eth

Rockstarguy

hero member

Activity: 1050

Merit: 592

God is great

Quote from: Cryptomiles1 on May 04, 2023, 11:18:56 AM

I don't know why people often trust meme coin or altcoin to an extent getting involved with $5m how and why?
Do you think such person have a common sense or he doesn't have a financial adviser someone who works as ADC to him?
If that he invested the whole lot of money to bitcoin alone then I don't think he could had lost this way, maybe after the market gained another ATH then he might sell and get back those invested funds.

Sometimes it is Greed that makes people think they can get money quick if they invest in meme coin with better profits. This set of people thinks meme coin is cheap and it will rise faster, their desperation of making money makes them to have so much confidence in investing in this meme coins. With what has been happening in investing meme coin people still have courage to make it good option to invest, times without numbers we experienced so many bad events in coins like this but yet it hasn't thought people lesson to stay away from it. Bitcoin is the most reliable coin to invest without any worries.

Bitcoin_people

sr. member

Activity: 700

Merit: 380

🎗️🍁🎭

Quote from: Pandu Geddon on May 04, 2023, 08:55:58 AM

Quote from: Dr.Osh on May 04, 2023, 03:54:05 AM

Quote from: Franctoshi on May 03, 2023, 08:47:25 AM

Any trader coming into Trading with the mindset of getting rich quick is just getting the whole stuff about trading wrong, trading requires patient, with a slow and steady method and not wholy depending on trading to earn a living, that's definitely gonna put you up trading on pressure, though for some people that could be a major source of income for them. Most of unsuccessful traders today enters in to trading with such mindset which have resulted into blowing up there trading account.

well, most of the new traders who come sometimes feel that trading is a method to accelerate the increase in the money they have so they don't hesitate to trade with their savings, or even by selling other investment assets they like houses, then try to trade because they feel that this is a quick way to get rich.
However, I think they lack information about the risks of trading. they sometimes only look for information about the benefits, but forget about the risks. However, trading is not a place to make money quickly, it's just that if they really learn in the world of trading, they can get it that way with minimal risk.

it was stupid and very hasty act of a newbie. even when they lack basic skills in trading crypto assets. but what you say is true. some beginners think crypto assets can provide profits in a short time. It's all because of the coverage on social media. hoping to follow the fomo that happened, actually they are late and will have more potential to get losses than profits because they don't come at the right time.

In the case of tranding, you must prepare yourself in such a way that you do not have to face losses in the future. But there are many new traders who want to expect more profits in a short period of time. They rush like fools to invest in scam projects, thereby exposing themselves to greater risk. However, when beginners want to start trading, they should gather enough knowledge. Only then they will not face such losses by trading and follow the tranding tips.

nurilham

sr. member

Activity: 1498

Merit: 443

Quote from: Blowon on May 04, 2023, 05:26:19 PM

even experts advise using cold money in trading. if the money is your own money but it is needed for medical expenses, the cost of your daily life will be better if you don't use that money to trade. Usually it will be bad if you use it because it will provoke emotions when you take it to trade. just use the money for the necessities of life and save some of the money for trading.

We must be aware that trading isn't an instant way to earn money. Not every time we can take profits with trading, there are times for losses as well. If we use loan money or money for daily needs, it will bring a bad impact on our financial stability. We never think to use them, just use the money that we can afford to lose. That's what the most popular sayings we always hear.

Sure, trading with emotion will end up with losing everything. If we still can't control our emotions, we don't start trading crypto. Having good emotion control is a must in crypto trading or investment.

Topic: Trading not a get rich quick - page 6. (Read 1409 times)