We should not be surprised because some newbie traders still have this mentality of many hueg profits from the market when they finally enter live trading. This was the same thing I was thinking when I was learning how to trade but I got the shock of my life when I started trading. I know that trading is very complicated and sometimes you will need to make a swift decisions some that you will not blow your account leaving to nothing.
With time I understood that using too much of demo trading can affect the way we see the market making us to keep having continueous loses since are nit that prepared for what is to come.
Topic: Trading not a get rich quick - page 7. (Read 1409 times)
Greedy people (in a bad way) will never be successful in life, maybe for a while, but karma will hit very hard.
I would never dare myself to use someone else's money in anything, especially in trading where everything is unpredictable, which makes it very risky hoping to earn big money instantly. Trading in cryptocurrency is not gonna make anyone rich overnight, it doesn't work that way, it is the other way around for those whose mindset works that way. Trading as a source of income is like a diamond in rough, it needs time and skills to be polished, to earn great profit.
I would never dare myself to use someone else's money in anything, especially in trading where everything is unpredictable, which makes it very risky hoping to earn big money instantly. Trading in cryptocurrency is not gonna make anyone rich overnight, it doesn't work that way, it is the other way around for those whose mindset works that way. Trading as a source of income is like a diamond in rough, it needs time and skills to be polished, to earn great profit.
The majority of centralized exchanges use the same process; they collect capital from investors and trade it on the stock market. The necessity to require platforms to segregate corporation funds from user cash is a crucial consideration for regulatory legislation that countries establish; otherwise, we will continue to see more situations like this. Investors must also learn to just put trading money into exchanges.
Many out there won't still learn from this real life story as we are going keep getting such related stories over and over again. This is because everyone want to get rich at all cost, they want to live the great luxurious houses, have flamboyant cars and cruises etc, all pointing to be part of the very rich few at the top of the pyramid.
What blinds their reasoning so much, that I am yet to understand, is that, they think most of these rich people at the top of the pyramid made it there in a twinkle of an eye, never minding that it must have taken years of work, maybe decades or more for these guys to have earned such a life.
Imbibing the idea of getting rich quick cam only lead us to more trouble that we can ever imagined. And it's this inclination and crave to get rich quick that drum many into taking risk with money or assets that are not theirs with the hope that their plans might work out they get to return back the money is one piece. But when reality hits, the consequence is devasting for sure.
What blinds their reasoning so much, that I am yet to understand, is that, they think most of these rich people at the top of the pyramid made it there in a twinkle of an eye, never minding that it must have taken years of work, maybe decades or more for these guys to have earned such a life.
Imbibing the idea of getting rich quick cam only lead us to more trouble that we can ever imagined. And it's this inclination and crave to get rich quick that drum many into taking risk with money or assets that are not theirs with the hope that their plans might work out they get to return back the money is one piece. But when reality hits, the consequence is devasting for sure.
Even with the best intentions, Using money that is not your is the worst idea, when it comes to investing in cryptocurrency And can result to serious legal consequences.
We should all have it in mind that Investing in Bitcoin it's a game of luck and the market is volatile but this guy actually ran out of luck.
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.
I don't know why people often trust meme coin or altcoin to an extent getting involved with $5m how and why?
Don't be surprised by that because many think that it's like a lottery bet that will make them rich overnight.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.
Most of them do it according to their own will of what they probably think is best for as an investor. It's a way for them to have their potential profit maximized because it's what they think is best for them. They're all attracted to those stories that have gone viral because of how they've made from pennies to thousands to millions. We might still see some of those stories but others are romanticizing these stories and some are even fabricated.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.
Meme coins are considered hyped coins and we can't deny that many people become rich and earn huge profits from investing in them during the hype. Their experience teaches them something really happen in the crypto space and they will be doing this again and again despite the high risks. I won't say that they don't have common sense but they are really practical in this matter, perhaps they are smart and have the ability to adapt to the situation. We can say they are wrong but guess what, risk takers earn more profit, and these meme/hyped coins investors possibly earn more than those who invest in Bitcoin ( and they might lose huge amounts as well).
Practical but not all of them find success with that. I think this is more of what's making us profitable, for them, it's with these meme coins and for us it's more with Bitcoin. 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.
Meme coins are considered hyped coins and we can't deny that many people become rich and earn huge profits from investing in them during the hype. Their experience teaches them something really happen in the crypto space and they will be doing this again and again despite the high risks. I won't say that they don't have common sense but they are really practical in this matter, perhaps they are smart and have the ability to adapt to the situation. We can say they are wrong but guess what, risk takers earn more profit, and these meme/hyped coins investors possibly earn more than those who invest in Bitcoin ( and they might lose huge amounts as well). 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.
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.
Read further about it: Ex-CFO who stole $5M to trade crypto and ‘meme stocks’ gets 3 years in prison
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
There is no doubt that in cryptocurrency, always use money that you have no problem losing.But in whatever business you invest, it is very important to have experience or to have complete knowledge about that business.Whenever investing in the cryptocurrency market, be sure to check where you are entering Whether it is a suitable time to take entry or not.
When the price of Bitcoin was $50000 you took an entry, when the price of Bitcoin went to $15000 you did not take any entry.Where the entry was not made, it was taken and where it was made, it was not taken.This is because if you took one entry at $50,000 and another entry at $30,000 and then a third entry at $15,000, you would lower your average.Hence you should never enter any cryptocurrency with their entire capital.
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.
I agree with you. When I first started trading crypto, I had the ambition and thought of getting rich quick through trading, but instead I lost all of my fucking money. I keep learning and now I'm grateful to have a stable determination and mind with patient and diligent trading techniques. Even though the profit I made was relatively small, I was able to be consistent and able to resist the urge to not be greedy.
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.
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.
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.
Read further about it: Ex-CFO who stole $5M to trade crypto and ‘meme stocks’ gets 3 years in prison
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
Too many people are using trading as an excuse for what they are actually doing, which is gambling.
Trading and gambling can be similar but only if you are not serious about your long term plans. A person who keeps trading back and forth, hoping to catch that 10% candle is going to waste 20% on fees before/if that moment even comes.
And a lot of these fake traders have absolutely no self control and no strategy. Which in itself in nothing short of a recipe for financial disaster.
I blame all the "Influencers" who fake being rich traders who own nice cars but at the same time demand "fees" for their "trading signals" or their "trading lessons". All they do is steal money from gullible people who think the memesters actually know what they are doing.
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.
which they would really be ending up on being a holder just because their investment had experience soo much or too deep negatives and this is why they would be making out some realizations that it is really that never ideal on making yourself get dragged with a hype because on the time that the market would really be making out some u-turn or simply those people who had bought on the bottom
would sold out their holdings for profits or securing out easy money then for sure there's nothing you can do.
Dont make yourself that get too impulsive on things on where it might be looking that interesting or something too good to enter because everyone is being hyped up.
This is a solid indication that you shouldnt really enter or this is the time you would be needing to sell incase you had bought on the bottom.
~snip~
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.
~snip~
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.
~snip~
Yeah, since trading is not guaranteed our profit then we can't hope to get rich quickly from trading but there are people who become rich from trading because they already know the market behavior. Even those people who are experts in trading are still not guaranteed their profit through the market since the crypto market is not predicted at all. It's sad when people invest or trade in crypto especially meme coin because they're hoping they can get rich in a quick time but actually, they're only risking their money.
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.
Investing with the goal of wanting to get rich quick is the wrong mindset, in fact you could become a rich person through investing, but it's not as easy as you might think. It takes a long process to mature to be able to achieve large and stable profits. I heard that the average person who has the mindset of wanting to get rich quickly always fails in the investment world by leaving only debt. This mindset makes them careless and in a hurry to get profits without realizing the losses, so they always fall down and have to start over. If investing is based on greed and the mindset of wanting to get rich quick, then what's the difference with gambling.
To get rich, it takes time unless you win the lottery, which means you'll get rich instantly, but again, depending on how fast you get that money, that is also how fast you will lose it. For sure, those people who really want to get rich quickly haven't faced any problems, let's say in investing. Because we are too greedy for profit, we lost all of our money, which we learned lessons from. The same is true in real life: doing overtime and multiple jobs makes your health suffer. Everything takes time, and you should have patience with it.This is why the possibility of getting rich given enough time exists, but not everyone takes that, and many lose money while investing into big things as well. Getting rich quick does not exists, it's not an option, but while chasing it, losing the possibility of getting rich eventually is the biggest mistake people do, and as long as you can stop doing that, and just take care of business every single day, grind for decades, you will get rich.
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.
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.
The tokens available for trading are so many that it becomes impossible not to get tempted to trade them when you see others making millions from this projects, you might have decided to be disciplined but the temptations are just too much to ignore that if you don't have control over your emotion, before you know it you'll be among the traders chasing after hyped projects.
New traders want to make the money as quickly as others are doing and they fail into the trap of chasing after hyped project although this strategy doesn't work workout the same for everyone as you might be losing for the same things others are doing and becoming successful.
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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.
which you could really see that there are tones. Basing up on my own experience then losses would really be that evident but what matter the most is that you would be still
ending up on positive or in profits. Well, it does accompanied with some luck and really some in depth DYOR because we do really know that this isnt something
that we could just simply be that too confident because we are investing our money on here.
I could say that making 10-100x in meme coins is really easy but choosing which one would be the toughest challenge at all.You should really know on when to get out
and look or find for another one. Rinse and repeat and you would be able to get those kind of results but of course it would be needing up some luck too.
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.
I agree with you. When I first started trading crypto, I had the ambition and thought of getting rich quick through trading, but instead I lost all of my fucking money. I keep learning and now I'm grateful to have a stable determination and mind with patient and diligent trading techniques. Even though the profit I made was relatively small, I was able to be consistent and able to resist the urge to not be greedy.
rush in working on project profits with big results is why so many scammers are scattered now. it's a shame that even projects that are starting to grow bigger do that. I think it's better not to make this your main source of income.
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