Bitcoin Forum

Ive just had one of my friends ask for some advice on coins to pick to add to a portfolio but after being asked ive now decided id rather him find out for himself, I feel that if i give him advice and the ones i have said to pick end up failing then it will fall back on me so i think from now on i wont be giving any advice on trading. I dont mind telling him what ones i think are going to do well but i dont think its wise to promote any.

Is anyone in a similar situation or have you even made recommendations only for them to fail and friend slose money?

I asked the same question here before and I received a couple of good advices from people who really has knowledge in trading.
 Check my thread here https://bitcointalk.org/index.php?topic=1386206.0

i personally think that before you give a pick or give an advice you also placing some investment from this project, i think that it is needed before recommending you also placing your share so what ever happen you also have some loses too and he can't blame you both of you loses it.

Yeah i do have several coins that I'm invested in that I'm happy to share with friends or anyone who asks,  what I'm more hesitant about though is someone asking what they should invest in and then me telling them.  If it turns out that the price dumps all of a sudden then no matter how many times your told you won't be blamed they will still hold it against you.  So better off not recommending coins but just telling what your invested in.

Yes sometimes to encourage friends in their trading biz i give tips for some of them, especially the newbies with trading world.

I have gave already many tips to my friends,you may ask why?
I did because if they dont have big knowledge and a lot of free time,they wont make any money,just probably waste time.
So i did send them,to get start possible  without big problem.

Yeah i also experienced that i give advice to my friend and he lose a lot of money that was DEUR because the average price of DUER in that day is 10k satoshi and the price dropped at 1k sats per piece so i give advice to him that put his all money on DEUR because i thought that soon the price will back to 10k sats and it will 10x his money, in that moment we are also both newbies but i tried trading first so he choose to follow all my advice but it's failed and i feel sad because it's my friend and he loss all his money on that moment so as of now i don't give advice on what coin to pick/invest and i'm very careful on giving advice because i'm scared that it will happen again :(.

I would never give trading advice in the form of: 'Invest in x or y coin and you'll see a profit in the next weeks or months to come'. If they want trading advice, I would just recommend certain articles or tutorials, so the responsability doesn't lay with me if they fail.

So your friend is asking blind coin tips ?? If so tell him to do his homework, dont trust anyone in crypto-world ,it might be decent at the begging till you go all in..after that..the drama starts!

yeah ive been asked to recommend coins for him to put money into because hes seen ive made some profit so far. Ive actually had more than 1 person ask now, its not like ive even made much profit. Ive told them what i made it on and what coins i hold but ive told them not to buy into them because i dont know whats going to happen with hem and they could go down . And guaranteed if they buy into any coins ive got then price will drop and i will be the one that gets blamed because they lost money. It would be fine if i knew for sure a coin would go up but one of the coins i gained on was ether which i did say and i would imagine if they buy now then thats money thats going straight down the drain. Anyway theve been informed so more than that i cant do, Maybe this is why people hold such secrecy in the stocks they hold, not because they are going to make such big profits but because they dont want anyone following them and losing cash.

Anyone can give trading tips. Most suggests to buy at low and sell at high which is the best trading strategy of all time. But in reality the more you try will get you more knowledge about trading than moving forward with others suggestion.

Friends itself means helping and sharing . That is why it is called buddies where you share and care for everyone.

Tricks of the Trade : Shitcoins are gonna shite,better stay away.
If that doesn't explain enough,don't ask your friends to buy or put money in the shitcoins which you may call "alts" in your language.Not even asking you to invest in bitcoins and wait for the price to rise,buy a automated trading bot, solves all your problems.Invest in the ideas rather investing in the asset.Lot of scope for bitcoin businesses right now,invest in them!Hopefully you will be the Mark Cuban of tomorrow.

I generally avoid giving any tips unless I am sure enough that it will work.  In trading nothing is really guaranteed (can't give any sure tips other than the usual buy low sell high crap.) so that's a no unless you tell your friend that it have decent chance to go wrong beforehand.

Sounds like a really good way to lose your friends with minimal effort.

People are real quick to reward blame and it's always gonna land on you.

honestly i was never give trading tips to my friends but i have facebook friend and he has an trading expert and really honest person also he always give me good advice during my trading activities and until now he sometimes give good predictions for the market movement and i still use his advice

If you give advice, you may want to clarify that no one knows what any coin will do for sure. Even bitcoin can fail so I am hesitant to give advice to family members to invest in it. All these cryptocurrencies are high risk investments.

Yes we I have friend but not only one we are group of friends sharings ideas with other coin we buy , sharing with other is not bad idea it will help for new comers to learn but dont blame others who shares idea to you we also don't know what will happen of the price of other coin only expectations .just don't blame others if they failed.

A month ago I gave one of my friend about 0.02 for starting to involve in bitcoin , with that he involved in bitcoin and after that he started to learnmore about bitcoin and at last he came to trading and he learned about it more and with that he came to start trading of bitcoin.

I already give tips/advice to my friends but i don't think it fails, i don't know but i think it's not too often because i didn't spoonfeed to them like saying what the coins they will buy and hold.
I only tell them that they need to read forums about the coin and observe the coin if it is still active or not.
That's the only advice that i told to them ;D.

Well no, my friends don't know about bitcoin but even if they would know I wouldn't tell them that i trade or something like that, I have a negative balance between earnings and profit so I'm trying to get back on my feet.

I got the same problem a few years back, but with trading i managed to recope it within a few weeks. It's not very hard, just need to be focused on the coins you are trading.
Obviously you have to cut down your spending too ;). No more ferrarri's

How about changing that n691309? You can teach them a little
bit about bitcoin,show them how you earn money here.
If they are smart-they will get interested about it,because it is possible to make money with it.

I would be careful to advice anyone, let alone friends. If you give someone a tip and it backfires they will blame you.
Even ruin your friendship. Tried with yourself and for yourself, this way you can look everyone in their eyes without any guilt.

The best trading tip is - buy at low price and sale it later. For example, buy Bitcoins and then after price go up, sale them.  ;)

that is a basically tips for trading but for additional never become a careless and greedy person. it's will make you way is easier to get a profit. because you can control your emotions at doing trading.

Well, I always give tips to my friends in the real world in play trading, but it seems they do not want to follow the tips I gave, because in my view, they already have their respective tricks for playing trading, and perhaps they are the trick better than the tips I gave, but I am very pleased to see

People who ask for tips usually don't need them. They need full guidance instead - for example - someone who will tell them what asset is good to invest in ATM.
Or when to sell or buy. This information can't be covered in one or two formulaic tips like: sell high, buy low. Op, you need to sit, read a lot and learn if you want be successful trader.

i do that with one of my close friends. but we are exchanging information between each other and mostly sharing our knowledge and since we both know each other and know the risks we rarely lose or blame each other for losing.

I would never give any advice to someone about how to invest and how to manage his own money.

It`s normal for people to seek for tips and recommendations,but i`m not comfortable giving them.

People should take responsibility and learn from their own mistakes.

Yes, it’s really a tough situation when you try to give honest advice but eventually it results in loss. Yes, I do give advice to one of my friend but that’s not related with crypto trading. I have been trading in stocks for a while (with simulator) and got some experience and I share it with friend and force him to do his own research before investing. Basically I focus on sharing ‘strategy planning’ instead of ‘actual strategy’.

Yes, tips are always with 50-50 chances so recommending friends based on those tips might result in misunderstanding for your friendship. I never accept tips from third parties/friends for my trading nor I never suggest anyone to follow my words. In my experience both are risky for investment as well as for relationship.

Rather than looking for tips, read people's posts on the threads. The posts help you narrow down your research to the basics, then work out methods that fits your schedule.

My brother is always giving me tips for selecting coins to trade in, as he spend most time in searching and reviewing about the coins, and with his tips I have found a good profit from trade with them, we should have to share the knowledge about trade with all of our friends and relatives so that we all get benefit from there.

General rule - don't give tips to people you know personally - they will blame you and curse you later, never convince them to invest in anything.
I will bite you in the ass forever if you say that some altcoin is great and then it turn out to be another Steem or we will have another DAO hack.

Yeah me too , want to share my profit to my friends with giving a tips about profitable coin and also helps the coin more rising with the community .
But , we don't know what happen next , you also take a risk if you're coin fail to reach a goal. Instead of blaming better to learning from your fault.

Nope, and it's bad advice in general to do that for friends, much like lending a friend money or selling him a car.  Money and business strain personal relationships,  and giving altcoin tips?  That is very risky, and your friend will NOT be happy when poopcoin X goes to nothing and his entire bankroll is gone.

Tips or advise to others is not advisable because in trading you and the coin you choose to buy is better in your own decision than to hear advice from another. Because in trading no one can predict what is the best and when that coin getting up. Mostly traders they believe in chatbox thats why many of them get lost their btc.

i do it with my friends and i have community of bitcoin where every people which play, i mean trade bitcoin, share info about bitcoin and altcoins. and beside that, i've made a group on whatsapp with many friends and shares about this. many of them will give advice and info around cryptocurrency, and for people which live in same city, they made a gathering and shares many info.

i think its good for learn by doing so we don't make mistake when we trading. and beside that we can learn so many thing about cryptocurrency especially bitcoin.

I manage a small amount of BTC and alts on behalf of a few close friends who trust me and who rely on me to take the right calls on that portfolio. They have all committed to a 3 to 5 year holding horizon.

i have introduced bitcoin to others and many of them are my friends. so as a result and the normal way of things i will tell them about everything i know which has trading included in it too.

but whenever i am talking about anything speculation related like trading i try to stay away from being too specific and give any signals to anybody which is going to come back and bite my in the ass later.

Haha, if i had ferrari I would sell it for bitcoin(and that would be a good news for bitcoin), I am thinking to quit trading for a while because many dumps and pumps are happening with altcoins

yes i am also giving trading tips to my friends, i have some close friends who are jobless one has done master in Business Administration and the other one has done master in Political science, but still they are looking for job, now i  have introduce bitcoin to them and also give them some trading tips how to invest in bitcoin and where to invest bitcoin again.

I try not to give trading tips to my friends. On the rare occasions that I do, I always tell them that I'm no expert and that if they do follow or act on any of my tips/advice that they could just as easily lose money as make it. I would never tell someone, "If you do x,y and z, you will profit guaranteed."

Actually we dont plan it and sometimes it just comes when we meet each other and share out experiences in trading. We give tips and sometimes we pull each other in investing to different trusted altcoins.

I do give some tips to my friend sometimes but mostly I told them to read threads about coin and let them decide which coin they wanted to trade.  I just give them some pointer on what to pick.  I told them if the coin is active and the community is actively participating with upcoming release of an update, then it is mostly the good coin to invest in.

Usually, I just say what my personal opinion on this or that asset is. Or tell them in what stuff I have invested. But I always warn that this is just my opinion, I may be wrong as well. It is up to the person to decide wether to follow the advice or not, and what to do with this information. Don't blame urself and don't allow others to blame u because of their failures. U dont give any guarantee and u dont own them anything. Just relax)

I do give a useless advice  :D buy low sell high. and then told them to do their own research,  rather than asking someone on what to trade, why not research it on their own or at least make an effort of verifying if it is worth the investment.  basically i tol them not to listen in troll box or if they do just  do the opposit.

but i am introducing bitcoin  and also giving trading tips to my friend on regular basis actually i have some talented friend and i know that they can really get benefit from bitcoin if they are properly guided therefore i on regular basis give trading tips and also share important information with my friends.

When btc was ~350 I told my boss to get in - he said 'I bet in a year it'll be work nothing'

The next year it was 700....they just don't listen  ::)

I hope monero climbs as high as that. The coin has got potential, don't know why it's not in the second place.
I don't share trading tips, at least not yet, until I get the hang of it.

Which coin stays where, is based on the whales behind the coin - how deep their pockets is. Monero needs funds to compete with Ethereum, untill then, it just keeps hanging.