Trading not a get rich quick - page 9.

Oshosondy

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Gamble responsibly

Quote from: mvdheuvel1983 on May 01, 2023, 08:25:10 AM

- prison is not enough he should be made to spend some time in the Library reading some recommended books on Bitcoin and cryptocurrency.

Nobody cares about him knowing more about bitcoin or other cryptocurrencies, all the court care about now is for him to go to prison to correct him not to make such mistake again. Anything that has to do with crypto will be neglected about him.

Quote from: jeraldskie11 on May 01, 2023, 06:20:34 PM

Trading is not easy, and it takes time to master because the market is always changing its habits

I do not see the market changing at all, but trading is just not easy at all. Trading is easy to learn, but to use it to make money is not easy. The scariest thing about trading is that you can be professional and still lose.

Quote from: jrrsparkles on May 01, 2023, 07:41:24 PM

Trading, investing, buying or doing anything with money that is not really yours can put into a big legal issue and also will affect your mentality about future so be responsible and do whatever you want to do with your own money.

Also because the money is not his, and probably want to return it after making some money. That can bring him bad mind towards trading that can lead to irreparable losses.

BobK71

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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.

There are some investors who aim to get rich quick and invest without considering the fundamentals of any coin which once exposes them to huge risks. Due to excessive greed, many people make such investments with the aim of getting rich quick. Among them there are some investors who invest by borrowing the entire amount. Losing his own money does not have much effect, but if he loses borrowed money, he may have to go to a place like jail. So an investor should avoid get-rich-quick schemes. If he invests in Bitcoin he will recover his wealth even if he loses it but no other coin can expect this situation especially meme coins that are very risky.

jrrsparkles

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How did such person reached that kind of responsible position in a job because the character itself shows that he is an amateur as an investor so he doesn't know what should he invest and where he should invest that.

Trading, investing, buying or doing anything with money that is not really yours can put into a big legal issue and also will affect your mentality about future so be responsible and do whatever you want to do with your own money.

jeraldskie11

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It feels different when you spend your own money to trade or invest. If you are in business, it will not concern you. As a result, you're executing your job considerably more efficiently. Trading is not easy, and it takes time to master because the market is always changing its habits, which is why our strategy does not always work, making it very dangerous. Don't be so sure about investing your money in random digital assets because it doesn't work that way. You must conduct research before investing, and you should avoid investing in meme coins as well, as these currencies rely solely on hype.

Quidat

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Quote from: Twentyonepaylots on May 01, 2023, 04:30:16 PM

Quote from: Bushdark on May 01, 2023, 01:02:33 PM

Quote from: GelatikKembar on May 01, 2023, 11:40:00 AM

Trading is not a get rich quick way, but trading makes us know that there are many ways to earn money,
of course trading also requires learning about how to trade properly, learn strategies, and learn from mistakes.
if you do not know that, then I make sure you will fail in trading.

This is what many of these newbie traders need to know so that they will not always make loses in the market due to greed and the urge to make huge profits like the pro traders that are in the market. Learning the skill is one thing and entering the market is another thing. We need to know what we are doing and get prepared of the challenges we might face in the market before thinking of making that huge profits from the cryptocurrency market. If we get the necessary skills and all that is needed including our mental health and all it entails then we are going make a good earnings from the market without havinguvh difficulties.

Agreed with these since trading will never be a get rich quickly especially when you are relatively new to it. It requires your time and effort to really have the knowledge about it as well as the first hand experience on it. Nothing can be a get rich quick thing since everything that we do, we must need to make an effort in any way so that we can achieve our desired goals. In trading, we should really lower our expectations since it is not always your day and you might lose profit in the way so what to do is really make it as a knowledge to do better next time. We should always take the risks that we can since it is not easy to trade and have a profit but proper planning can help you be successful on this in the future.

For those people who do believe that it is a get rich quick thing then they must try., sooner or later they would be able to find out on what the real deal. They would definitely saying to themselves
that this wasnt the thing that they've been expecting or what they do believe. This is where they would be starting on making up some further research and would really be that
realizing on what are the things that you must do for you to sustain yourself on trading field. It isnt something that you could be able to bare out on easy way.
This isnt a rich quick thing, you would be needing to be wise and needing to be that having that kind of non greedy mindset if you do really
want to succeed on this space.

Vaculin

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Winding down.

Quote from: Lucius on April 28, 2023, 09:43:56 AM

The bad message of this story to everyone who will read it is that crime actually pays off - because just three years in prison (is it real prison or probation?) sends a message to everyone else with similar intentions. In the worst case, the "criminal" will be released when he has served 2/3 of his sentence, and maybe even before.

Shall we bet that he will repeat the same thing as soon as he gets another chance?

Whatever crime you commit, it will never result into positivity but always put you at the losing end. That’s how this trader in the story might have learned his lesson after he was put in jail and realized that trading out from greed will always put you at its worst scenario. And bear in mind that even if you put the biggest amount of money when you trade, that won’t guarantee profits as long as you are investing on shitcoins and meme coins.

Twentyonepaylots

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Quote from: Bushdark on May 01, 2023, 01:02:33 PM

Quote from: GelatikKembar on May 01, 2023, 11:40:00 AM

Trading is not a get rich quick way, but trading makes us know that there are many ways to earn money,
of course trading also requires learning about how to trade properly, learn strategies, and learn from mistakes.
if you do not know that, then I make sure you will fail in trading.

This is what many of these newbie traders need to know so that they will not always make loses in the market due to greed and the urge to make huge profits like the pro traders that are in the market. Learning the skill is one thing and entering the market is another thing. We need to know what we are doing and get prepared of the challenges we might face in the market before thinking of making that huge profits from the cryptocurrency market. If we get the necessary skills and all that is needed including our mental health and all it entails then we are going make a good earnings from the market without havinguvh difficulties.

Agreed with these since trading will never be a get rich quickly especially when you are relatively new to it. It requires your time and effort to really have the knowledge about it as well as the first hand experience on it. Nothing can be a get rich quick thing since everything that we do, we must need to make an effort in any way so that we can achieve our desired goals. In trading, we should really lower our expectations since it is not always your day and you might lose profit in the way so what to do is really make it as a knowledge to do better next time. We should always take the risks that we can since it is not easy to trade and have a profit but proper planning can help you be successful on this in the future.

Baoo

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Good point and example OP, I really believe in this quote « Good things always take time ». In addition to that, If you want to succeed in trading, you must avoid rashness and greediness. Trading is certainly a source of funds. However, you should be patient and take it step by step , that’s how you can reach the top. In fact , nothing comes easily in crypto era and remember that without hard work, education, knowledge and discipline, you will never achieve your goals and reach financial stability. In fact, you might face obstacles specifically in the beginning but once you gain experience, your decisions will definitely improve and be fruitful. Moreover, be aware of media news, it is full of negativity and fake information.

Bushdark

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Quote from: GelatikKembar on May 01, 2023, 11:40:00 AM

Trading is not a get rich quick way, but trading makes us know that there are many ways to earn money,
of course trading also requires learning about how to trade properly, learn strategies, and learn from mistakes.
if you do not know that, then I make sure you will fail in trading.

This is what many of these newbie traders need to know so that they will not always make loses in the market due to greed and the urge to make huge profits like the pro traders that are in the market. Learning the skill is one thing and entering the market is another thing. We need to know what we are doing and get prepared of the challenges we might face in the market before thinking of making that huge profits from the cryptocurrency market. If we get the necessary skills and all that is needed including our mental health and all it entails then we are going make a good earnings from the market without havinguvh difficulties.

GelatikKembar

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Trading is not a get rich quick way, but trading makes us know that there are many ways to earn money,
of course trading also requires learning about how to trade properly, learn strategies, and learn from mistakes.
if you do not know that, then I make sure you will fail in trading.

bbigtart

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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

He made three mistakes in my opinion. The first mistake he must know that trading will not make someone rich quickly and the second mistake is that meme coin investment is not a wise trade, I want to emphasize that meme coin investment is included in the category of very risky and volatile investments. Meme coin prices are often subject to volatile hype, making it very difficult to predict accurately and consistently. although some people may succeed in making huge profits from investing meme coins, but the risk of losing money is also very big. and the third mistake is using borrowed money to invest in meme coins.

Back to the case you mentioned, it's true that the person used other people's money to invest in meme coins and embezzled this money, this is very unethical and against the law. Therefore it is only natural that he goes to jail.

mvdheuvel1983

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Stealing to trade Bitcoin is like stealing to gamble. The result definitely ends in pain and tears. What is the lesson here.

- people will never learn from the bitter experience of others.

- nobody is exempted from stupidity in Bitcoin. That is irrespective of the educational status, you can still be as stupid when it comes to Bitcoin trading.

- prison is not enough he should be made to spend some time in the Library reading some recommended books on Bitcoin and cryptocurrency.

FUCKBSVFUCK

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They have the same logic as OP (with the opposite logic), and it's So they do want to get rich quick, they want to gain profit and also earn money, so the only way you can make it on your own, no wonder OP is trying to tell what to do.

They're just taking advantage of the loss and making money on the go.

This is what they are doing here, there's an old rule that they're stealing everything and when they do the losing doesn't change that. The loss is just the same as the one that they gave, if you do a losing amount, it doesn't get anything but the opportunity to recover. That's their reason for being a get rich quick.

Lorence.xD

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Quote from: xSkylarx on April 30, 2023, 04:33:02 AM

For sure he just thought that it was easy to trade and just a single trade you will gain profit. He really make trading as a gambling and doing it without any knowledge of it. That is why no matter how much money you have in trading if you have no knowledge on it you will lose. Always learn first if you dont want to lose all of your money unless it was gambling that you are just basing on luck

In the world there's no such thing as easy money, just like in trading there's always a risk even at investment if you will put your money at a complicated system you need to fix your mindset that you will not get money that easy. It takes time for you to master trading, you have to collect knowledge and experience in this industry luck itself doesn't even always favor at your side. Good trader doesn't involve their money if they know they doesn't have the ability to risk the money he don't have the knowledge with.

Strongkored

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

but not good to use the money that is not yours.

He thinks everything will go according to plan, maybe he lacks understanding of crypto trading so he doesn't realize the risks that can be faced, maybe he thinks taking a profit margin of only 10-20% is enough to get rich and intends to return the money he has he used it.

But in fact, not only because crypto trading is difficult to predict, but the way he uses money that is not his is one of the reasons he experiences all these bad things, because he does not have the right mindset, because with the right mindset, he will realize the risks and also it is not right to use money that is not yours and risk it on something as uncertain as trading in crypto. A dishonest person is unlikely to succeed.

Ziskinberg

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Quote from: adaseb on April 30, 2023, 11:26:17 PM

Most people want to get rich trading because they watch all these crypto kings on YouTube or watch Wolf of Wallstreet and think it’s easier than working. Hence why it’s not uncommon to see people blow all their savings trying to get rich quick.

However you quickly learn it doesn’t work that way. It’s very difficult and most fail. Hence why many should just stick to long term hodl or just invest in stock indices and hold long term. Even buying bonds now is a much smarter way.

That is the sad reality about trading. Many people got encouraged to trade because of what they have seen online, particularly on YouTube and they believe that is too easy. Unfortunately, it plays in different ways and makes them fail in their ambitious plan as it was totally different from what they saw on the internet.

In fact, there is no easy way of making a profit on all trading platforms. Perhaps it was a big lie and so we need to open our minds as well, and stop believing these influencers as they are not helping instead, they are making us a fool.

adaseb

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Most people want to get rich trading because they watch all these crypto kings on YouTube or watch Wolf of Wallstreet and think it’s easier than working. Hence why it’s not uncommon to see people blow all their savings trying to get rich quick.

However you quickly learn it doesn’t work that way. It’s very difficult and most fail. Hence why many should just stick to long term hodl or just invest in stock indices and hold long term. Even buying bonds now is a much smarter way.

michellee

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People who think that trading and investing are a get-rich-quick scheme will regret discovering that it is not as easy as they think. With price fluctuations changing daily, they won't get the right time to enter the market, let alone hope to make a profit.

They will only experience loss after loss unless they realize they have much to learn about trading and investing. Using money for trading and investing is also necessary because beginners have to get used to trading until they can finally get profits several times.

But if people embezzle money just because they want to invest in meme coins, that is stupid because the average meme coin doesn't have a high price. He should use his own money to invest rather than do something illegal and get caught.

Captain Corporate

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Most banks already use it with the legal acknowledgement of it but not really commonly known. First of all they invest that money into companies, you see apple, tesla and all those others that gets their stocks pumped at times? Thats when banks made a lot of profit and used that to buy, but instead of using that money to cover the withdrawable amounts, they used it to buy stocks ,or any other investment really. Whereas, if we all went to the bank and wanted to withdraw, we can't, no bank ever holds enough mone to let every deposit out, they are willing to use their "profits" because that's a digital thing, but in a cash situation, they never actually hold the same money, they just act like it. This is legally allowed so there is no problems, but it is also a shady move that hurts the trust towards them as well. Crytpo exchanges are at least better than that and hold your money and we can all withdraw without an issue, for most good ones at least, some may not be like that and be more like banks.

fullhdpixel

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Quote from: yhiaali3 on April 28, 2023, 12:51:28 PM

Most centralized exchanges follow the same method, they take investors' money and trade it in the stock market.

Regulatory laws enacted by governments must take into account a very important point, which is the need to force platforms to separate company funds from user funds, otherwise we will continue to witness more such cases.

Also investors have to learn to put trading money only into the exchanges.

Not just exchanges but even the banks too. I heard they also use their costumer's money. There might be more business or companies that are doing this without the consent of their customers. Those who store money are earning some incentives but this isn't enough once their whole money got burned and the company collapsed later on because they might not be paid anymore. What you suggest is nice.

This should reduce the cases of stolen money if it won't be totally prevented because there will always be people who will be tempted to do it even though they already know that is wrong and there are serious punishments waiting for them once they get caught.

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