Bitcoin Forum

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

This story, will actually serve as an example, to all others out there who loots money from public organizations for personal reasons. I guess his attempt to return the money was not enough which landed him in prison.it's a cautionary tale about the importance of being responsible when investing or trading.

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.

It is another story to warn people about risk of storing their cryptocurrencies in online accounts.

From FTX & their CEO SBF, Three Arrows Capitals, etc. and some recent collapsed banks, we see that we can not trust any company which holds customer funds and how they use those funds. We don't know their activities are good enough to keep their companies and our money safely enough.

That CFO is bad because stealing customer fund to trade but even if they don't steal our money but like collapsed banks, they failed to manage risk and we at the end have to bear losses from their bad management.

Reminder: do not keep your money in online accounts (https://bitcointalk.org/index.php?topic=5421039.0)

Just like the big Firms. Not to mentioned FTX founder, who uses funds of their exchange. Its really frustrating to see a lot of users who aim to use other people money to trade and then loses it. This is fine if he is using a legal way like lend the money and pay the interest from what he borrow cause its working on defi products where users borrowed funds but with collateral. This is one way to do it in a proper way. But others who uses a trick method or power will definitely go to prison. But does they really go there? Sam didnt go there and has backdoor out from this mess.

If you are trading on behalf of other people because they don't know how to trade cryptocurrencies, you are doing something really stupid and risky.

I don't need to know how good or bad your trading skills are and what is your experience with cryptocurrency trading but trading on behalf of others will contain more pressure than trading for yourself with your capital.

Because the others don't have knowledge, don't understand about this market, they will feel panic when they read news by chance, and they will call you to ask why it happened, is it safe to continue owning cryptocurrency, should they exit this market and more funny but headache questions for you. I am sure you won't want to take risk and pressure like that.

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?

It is all about maintaining greed and the fear. If you can balance those two options, you can get rich quickly. Also, there will be multiple options to get some profits rather than trading.

1. Testnet Airdrops
2. Ask Me Anything (AMA)
3. Mainnet Airdrops
4. buy and sell NFT
5. Community management

If he was a CFO at a SPAC, then they have committed a fraud. Point is that such people are just a popular name and therefore the news becomes so popular but this is common among many small cap crypto investors starting off their journey with shiny memecoins and shitcoins without thinking of checking their charts.

Previous memecoins have performed poorly and still going go with their owners attempting to keep their ships afloat. This is not understood by many such investors but they want the quick sell off at profit and exit. But that at one point due to sheer bad luck does not work out as intended.

It is a lesson if someone understands this, most of the memecoin lovers are in denial which is only because they are seeing a part of the cycle which has been running since many years.

        -   Well, this is really sad news. Because 5M$ amount is not a trivial amount that can be easily earned in this day and age.

Talking about large sums of money that can be moved and stolen is a big challenge for every individual like what happened in FTX that everyone knows that the funds of the users of the exchange were used almost like there is no difference here.

Hard-earnings are really necessary here in cryptocurrency because there is really no shortcut to get rich here.

All of you should follow this advice. We should trade with those assets that we have no fear of losing. That is, before trading, the amount of money you will trade with should be deducted from your total money. Because there is no trust in this money. Maybe you made a lot of profit in the beginning but one time you will see that instead of profit you have lost a lot of money from your capital then you will not be able to sell your coins at a loss and may have to wait for a long time to recover that loss. Basically this is the reason why you should trade with extra amount of money that you have no desire for money.

There are some new traders who decide to trade by selling their much needed assets. I think it is a completely wrong decision.

Man you can’t become rich overnight. No matter what task or work you do. Yes if you do something shady than that’s a complete different scenario. Investment or trading is done in order to earn extra income which is less but is earned frequently for a consecutive period of time. If someone is getting in crypto trading in the hope of getting rich in 48 hours or so, then he have to take high risks and gamble instead of trading. Trading is not easy and in order to make profits, you need to understand the market completely.

If trading is a quick job to make us rich, now there are many people who are millionaires, or even billionaires. However, the facts that occur in the field are not that easy, there are even people who end up bankrupt due to trading, more precisely, they trade without adequate knowledge. From this case, we can learn that assuming trading is a get-rich-quick scheme is a big mistake. I am not considered a new person when compared to beginners who are just getting to know trading, but I also still experience many defeats which in the end make my trades a loss. Never take anything for granted, especially when it involves money.

Trading, Bitcoin investment, and some other general investments are not just get-rich schemes; the problem with some people is that they sometimes get so greedy or overconfident about some investment they decide to make, particularly when it's not even their money.

I wonder why they don't usually have a second thought about what will happen to them and their reputation if their investment in crypto gets liquidated or if the other company they invested with fails to make a good profit based on the initial agreement. Well, it has happened to him; I believe some people will learn from it, and there those that are still going to be adamant about the Get-rich-quick schemes which is usually full of scams and many disadvantages, but a lot of people don't yet realize that.



Ofcuse he may, a risk taker always remains a risk taker no matter what, lol 🤣

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.

When they feel that trading is a get rich quick avenue,I only laugh at them because I know by the time they venture into it fully,they will definitely get dissappointed and that mentality will get off their mind in less than no time.It is true that investment brings money,but it isn't what comes so quick and sudden,it takes patience to be able to get money through investment,because it is not a weekly something or monthly something.It what takes a long period of time to get the desired result.When newbies or beginners think trading gives quick money,tell them to try it first before concluding that it makes one get rich very quick.

Those which steal money always have an excuse of why they do so, but I am not buying it, this person wanted to obtain great benefits by investing in the market of cryptocurrencies without taking any of the risks by themselves, but now they are discovering there is not such a thing as a free lunch and they are going to face the consequences for their actions, and if anything I think they got a light sentence as 3 years in prison for stealing 5 million is a sentence too short if you ask me.

There's no need to even tell them to go ahead with it; it's just good to give them some guidance by telling them the simple truth about trading. It is good to let them know that if they don't learn and familiarize themselves with the trading tools, strategies, and rules, they may not even make any profit, even before considering it a get-rich-quick scheme. There is a guy I am aware of who makes about $100 on a daily basis from his trading; at times, he even makes more profit than $100. So I can say that trading can really give someone a more frequent income, but that doesn't mean they don't sometimes lose money. learning how to become a successful trader doesn't just happen so suddenly.

Dear op, your title needs some grammatical correction (i think), and no wonder trading or investing in meme coins have fifty-fifty chances of profit whether you do the math or not, because these are community-driven tokens and most of them are manipulated ones, you have to get inside news of mem coins if you want to make profits and i do not know why an officer stole $5 million and did not able to make profit out of it.

Because if we invest that money in many meme coins (diversify) we could at least some profit and if we make a way of getting inside news (as big money can do anything, not accusing) then how can he not make a profit and lose all of it?

I think it's just an excuse to reduce the penalty or something i am not an expert here but something is not right here. Plus trading in meme coins is a good way to become rich if you have a lot of experience and money because AFAIK, without experience and talent, you can not become rich even if you have all the wealth of the world.

A normal thing to happen or simply some consequences if you do have this kind of mindset on the time that you would really be treating trading as a get rich quick scheme or thing because you wont really be ending up on a good way.This isnt how these things to be treated up because trading is something that needs effort and analysis which you would really be needing to consider out.This means that you wouldnt really be needing to rush up and making yourself that desperate because on the time that you would really be having this kind of approach then this is where mistakes would be starting out.
Trading isnt something that you could just simply ignore out and do nothing because it does really require lots of factors before you would be making or seeing yourself
that profitable. It wont really be that a short time and would be involving lots of trial and errors which you would  really be experiencing along the way.

He made two mistakes in this regard,
1. being in meme stocks
2. using other people's money that is not his right with the aim of restoring his condition that has lost a lot.

This is obviously ridiculous when we know that being in memes is something that may not even be recommended if we don't have momentum and can enter and exit in the right way.
On the other hand, many have also emphasized in this case, Invest according to our abilities and never do this with borrowed money if we cannot be responsible for it, especially since he is consciously embezzling money and it is really ridiculous.
He is wretched for his own actions.

Trading is definitely not get rich quick for sure. But meme coins investing is not trading, these people don't even claim themselves as traders. They just buy the hype and sell the hype. If you see someone would have invested in Shiba INU or some other alike coin at that time, he would be repenting his choice so much as of now. The article that you are citing is very different it's more about how the person used other people money to get rich quick.

there are still people who are jumping on meme projects for the mere ambition of getting rich quick. well, for him, it didn't end well. we know that most meme projects are pump and dump and if you are already late, you will end up holding worthless tokens or coins.
it goes to show also that even financial experts or with high profile positions can make it wrong in this market because there's no concrete market behaviour that you can follow on. it is more of instincts and knowing the project that you are holding onto.

Trading meme stocks and cryptocurrencies are too risky, especially in big amounts and money that you don't own. Someone mentioned that it is already gambling, well I guess there is a higher chance to win in gambling than hitting the jackpot thru meme coins and stocks.

By the way, embezzling $5 million and only getting 3 years of imprisonment? That's not bad. Maybe the guy should just hide the money or buy bitcoin and send it to a hard wallet and he'll be rich after his term in prison. I am sure that there are a lot of people willing to go to prison for 3 years for $5 million. :D

This is the result of overly thinking of ourselves that we can do trading without proper education and skills. A result of using other's money thinking that we can generate more while using a huge capital. And the story reminds us that only trade the amount that we can afford to lose and of course, that money should not becoming from anyone, it should be coming from our pocket.
And most of all, we have to know the consenquences in trading. We can't guarantee profit assurance that is why we should not be confident enough, most especially if we are just new.

I could remember when I started trading, our motive the was to make fast money from the market but it get to a time that we are not long seeing one of the passionate thing that made us want to be a trader. Trading can be confusing when we start making loses from the market. We need to understand all we are doing so we can patiently make good profits from the market.

 Everything is all about patient and nothing more that is why we need to ensure that we are not too desperate as a trader or do something that will increase our interest or urge to make bigger gain from the cryptocurrency market.

Being a trader can be more challenging, learning is just a first step and the real challenge is during the decision making.

What went wrong here is that, he trades using other’s money which is too risk because profit is not guaranteed. Another thing is, trading with the meme token can be more risky as the price is being manipulated by the hype, so one mistake entry for sure you’ll incur losses.

Try to be a good trader who don’t follow the hype instead you follow your TA strategy, there should be no rush and its better to have a profit consistently than to expect for an instant big profit, luck might not be on your side always.

One thing I've noticed is that wherever there is money, crime is always nearby, and people will do everything in their power to take advantage of others for their own self-serving interests. However, because we have a functioning system that regulates everyone, anyone caught trying to move funds will not get away without consequences, and at the very least, it will deter those who already have a plan. For example, most people only hear about Bitcoin without knowing anything about it before deciding they want to invest. if with the risk of investing, I would not say it's a game of luck rather you buy hold, and profit when the time is right.

Talking about schemes that make people rich overnight, some people who have never traded may consider and think that the moment the learn how to trade profitably that they will become rich overnight, I usually laugh at this very inexperienced thought because even many traders are not yet rich, so how will you a new trader become rich overnight. To become rich from trading requires consistent profit in the market, and consistent profit in the market means that you are really good in trading. To be good in trading is not sudden too, it requires a lot of experience and knowledge, that does not happen suddenly. Always try to tell people who think they can get rich from trading immediately that they are fantasizing.

That is why there is a saying, "Slowly is the easiest way to make money trading." That's a cruel story. I mean if one institution would trade a large amount of capital, why would one to chose to trade a meme coin? There are a lot of other assets that have reasonable and considerable risks.
Trading itself is risky enough. But picking the right instrument involves risks also. Trading cryptocurrency and meme coins have a great start from its foundations and its technicals. It is highly volatile. Trading shouldn't be treated as gambling at all. Sure both take risks, but trades consist of another level of the paradigm of probability and risk management.

Trading is not a get rich quick scheme, it's step by step and we ought to understand the market presently. I've gathered much experience as a trader over the years, so possessing the mindset of getting rich over night is absolutely not the aim, but gathered the fact that you're here to achieved your targets in the market. Newbies are the ones that generate the mindset of accumulating wralthyover night in trade, this is mostly caused by greed, watching your profits grow and refused to place withdraw because you think that one trade will give you millions which is totally wrong.

I did not know meme stocks has become that popular like meme tokens that people would be investing that much into it with a hope of making returns to payback the borrowed money and still get profit left. This man made so many  mistakes and we have people making same mistakes in the cryptocurrency market, meme coins aren't real investment.

If you pick interest in investing in memes then do so with only spare money, meme coins can vanish at any moment and also the price of the meme projet can dump just because of useless reasons because they can also get pumped for no tangible reason, they are just pump and dump schemes.

There are people who join crypto trading after hearing success stories. The thing they don't hear is the hard work behind those success stories. There are risks involved in trading and one have to fully understand these risks before investing in cryptocurrency. Every trading can go in both direction i.e. profit or loss and it all depends how consistent you are and strategies you are adopting. Being Newbie is not a criteria that you will face loss but if you don't have any prior experience and you are jumping with huge capital then there are chances that you will face a loss.

When someone is well-knowledgeable about the cryptocurrency industry, they will never view it as a means of making quick money by investing huge amounts of money they cannot afford to lose there.If I may say so, its lack of trading knowledge that causes the man to lose that huge money so quickly.

I believe this will be a good example to some people that risk too much in the crypto industry by investing in some set of altcoins with aim of making it quickly. Let just know that altcoins doesn't look promising like Bitcoin  and investing in altcoins are just likily like gambling and that is the reason why we are advice to shun altcoins. If the man have traded  Bitcoin I don't think it will be worse for him like this.

One common mistake is that they disregard the risk and due to excitement after hearing about success stories, they invest the money that they can't afford to lose. Success stories about trading should inspire us but that doesn't mean that we should ignore the possible risks of losing. Some people tend to have the wrong mindset toward crypto trading believing that they could have the same fate as others. Trading is a long process of learning and it will never make us rich in an instance.

We might see more of these news when the bull run has come again. These people think that they can be better against the market and they're experts already that knows how to read the market.

Yes, they may have glance of the possible little future that they can foresee but then, no one's better against the market. I don't have idea where these people are getting their guts of trading with the use of others money.

I'm guessing that he's thinking that he can make money out of others money and return it without any problem but then, the worst has come to happen and he can't get out of it.

Similar stories have appeared on the internet before, and many cryptocurrency websites include disclaimers about them. Despite this, many people continue to ignore the advice to never spend money you can't afford to lose in cryptocurrencies. One of the things that is motivating this insane act is the idea of being wealthy quickly. People who become victims of such have suffered numerous negative effects from this.

This is something that this forum constantly reiterates and is evident in a number of its boards. This will also serve as a warning to individuals who intend to join trading with borrowed money, saved money, or any other source of money that is not prepared to incur losses.

Count me dubious, but scoring big in trading overnight? As a market maven who's been around the block, I can tell you success is about a cool-headed, strategic approach and playing the waiting game.

But let's not skip the good times! Trading's chock-full of heart-pounding hunts, revealing untapped gems, and laying down shrewd, well-versed bets on the market.

Indeed, every trade packs a risk punch, and success isn't a sure thing. Stay frosty, hit the books, and keep your discipline game strong, and you'll amplify your victory odds while savoring the ride.

Forget the speedy fortune fantasy. Zero in on forging a robust foundation of knowledge and street cred, and let the endgame speak for itself. Next thing you know, you might be chillin' on a crypto jackpot!

How did he manage to lose with $5M? I mean that money is huge enough to manipulate any meme coin if he is an expert. With that money you can act as a whale and pump the coin a bit with 1 million dollar, then when people join you sell and pump again with 1 million dollar and enter again with another million dollar and then make the final exit and dump the coin.
That is what whales do. Even if he cannot do it, he  should have asked for the help of the experts.

I cannot use such an amount and enter market and still depend on what happens on the screen. I must be among the manipulators. Then, I cannot use such a huge that is not mine to enter the market.

No any business can get rich overnight. But we should know that capital is not lost. However, it takes time to bring the trading session under your control. Because if I am new I will never understand how to get profit from trading quickly. I always want to survive in the crypto market by using the best plan. You have to understand my talking so it will be helpful.

This is very sad. People without counselors are bound to make mistakes that will alter the course of their lives forever. It was in this forum I read the story of an Indian who borrowed money to invest in a meme coin and it went down the drain and he was at the verge of ending his life.

You cannot learn crypto particularly Bitcoin in a vacuum. Or Rather, without knowledge you will be another statistics. While in prison, it will be enough time for him to study more about Bitcoin and trading. So this is a good thing for him.

That’s crazy man, he is in for what he did and justice is served. Seriously some peeps have grand opportunities in life but they are screwing it up all the time. This is not just one example of it but there are many more on this forum. I’m seeing couple of threads every week where there are either stories regarding investors getting scammed, someone is using their mums pension money to trade, someone is went so far in loans that they had to suicide because they lost it all in the bear market.

I mean come on, this is highly volatile market and one should not be using money which is taken from lender on interest, or is a public fund or simply not your money.

What life that person could have enjoyed and look at the sad story now.

I better just save up from my salary, my other chores and keep the coins in cold storage. More than happy to wait for it to give me profits.

Beginner mindset with trading is the best way get rich quick, its seems after seeing many people or trader earn much profit from trading and ask them how possibility earn or get rich quick with cryptocurrency trading? Right now we can't believing all about what trader showoff with their profit, its not instant and easy get rich quick in crypto trading because many experience trader ever on loss position. I think should change about beginner mindset when start trading is not way for faster to get rich. Need progress with long term how to research and analyze about trading exactly in cryptocurrency.

As a CFO your job is not really to invest the money of the company in stocks and cryptos. For that there is usually a chief investment officer (CIO) that has to trade within fixed guidelines with some form of oversight in place. The job of the CFO is rather that the company meets it's financial liabilities and following the regulatory requirements. The CFO clearly overstepped his boundaries and got punished for it. It doesn't matter that he wanted to repay the losses with future winnings, it's not how it works. Using the money that we can afford to lose is fine for a private person using his own money. But when you are using company money make sure that someone gave the okay for the trades. The CEO should have been involved in the decision making process to avoid any jail time.

Trading is never a get rich scheme. Some traders get lucky to push little capital into massive funds doesn't mean it will happen more often and maybe that could have been the mindset that moved this fellow, feeling it is so easy turning such huge amount into massive funds. The fellow who risked such amount of money on crypto should even serve more jail terms, because investing a money that isn't yours in a highly volatile asset is equivalent to stealing from my own judgement. And now it is $30,000 and what if the owner of the money needs it for something urgent he/she will have to wait until the market pumps again which is really bad.

It is not about how lucky you are in trading, it is about how you are prepared in every scenario when you trade. Many traders believe that they can easily beat the market once they start making investment without knowing that the goal of the market is to extract money from the traders. Making money in trading is very hard because of the uncertainty, there are no perfect trading system that can help you to win 100% and for me it is the reason why it is uncertain to make money. All we need to do is to work hard, create a trading system that is suitable not only for our time but also to who we really are.

If you think that you can easily beat the market and make consistent returns, you're in a wrong path because in order to become profitable you need to face the harsh reality that you need to consistently studying and analyzing a lot of charts to be familiarise to certain patterns and trading setups.

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 reality trading is not that easy and very complex to be sure,
when trading and have no knowledge and skills then it is not recommended,
what you say is true because by learning it will help.

Man, you can't get rich quick. whatever you do in terms of work or tasks. Yes, if you engage in questionable behavior, then the situation is entirely different. Trading or investing is done to generate additional revenue that is modest but is generated consistently over an extended period of time. Someone who enters the cryptocurrency market with the intention of becoming wealthy in less than 48 hours must take significant risks and engage in gambling rather than trading. Trading is difficult, and in order to succeed, you must have a thorough understanding of the market.

That's the major reason why everyone who intends going into investment (whether crypto or any other offline business) should embark on research and feasibility studies before investing. This saves one the ache that may arise from investing blindly. No one should rely on others to do the research for them. Yes, there are investors who bought at $50k; even some bought at ATH of $68k+. These ones will be gnashing their teeth in regrets for buying that high. If they are new to this industry, they will probably be crying blue murder by now of how they were misled into Bitcoin investment. Again, we ought to know that no investment is risk free. This cuts across. Fortunately, one good thing about Bitcoin investment is that it surely recovers from whatever dip it encounters. Those who lose in Bitcoin investment are the impatient investors.

With $50,000, you can invest in the top 10 coins listed on CoinMarketCap. While there may be losses initially, I believe that investing in these coins now can lead to profits in 3 to 5 years.

Investing in MEME coin may also be a quick way to generate profits if you have extensive knowledge and expertise. However, high returns always come with high risks.

Definitely, a risky thing to do, especially if it's not your money to spend on. You need to make something happen if you are going to invest somebody else's money; that will be a heavy responsibility if you manage that always.

That's only three years? That money could be somebody's life savings and be worth a lot more.
It's like $1.6M per year for stealing money.
$5M/3 years = $1.66M per year

I don't think the people affected would be satisfied with that.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

I didn't say the market was changing; I stated the market's habits were changing. If the market's habit is permanent, then we must all be profitable because the strategy we backtested has a better win rate. We all know that knowing the basics of trading is not difficult, but when we apply it in actual, it involves emotions every time we trade, which makes it tough to execute. Professional traders continue to lose money, but overall they are still profitable.

Whenever we put in for trading, then we should know in the same view about what's at stake, which os either we win or loose an in the case of gambling even though trading is not gambling, but we take same risk because we uses our money for it and on the same view have the opportunity to earn or not.


Ofcourse if the price goes dip and the investor can hodl with more patient or target the bullrun, there's more likely possibilities to make more return on your investment but you need to hodl, this makes it not a good advice to lend money for an investment because you will be pressured for the refundment.

The phase is changing depends on the manipulation or the sentiment of the people. Although its not easy to get rich on trading but if we know the technical aspects it can increase our chances to win on our trades .

But the main thing on trading is we shouldn't get our emotion defeat us especially becoming more greedy since this is the one could give us a problem on our trades made.

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.

There is no guarantee that investors and traders can become rich because of their activities, that's because there are many factors that ultimately are not profitable for them. The most common thing that is often said is price volatility, while another is about the risk of the security of the storage wallet.

Anyone can expect to become rich by trading and investing, but they must be well versed in managing the risks involved. Strategy and self-control and a few other things have to be considered, so it has to be pretty balanced with the plans they have. I agree that it is not good to hope for quick riches with trading and investing, it means that we all have to go through a process that takes time.

This is quite heartbreaking for the chief financial officer to have lost a whole $5 million into a meme coin investment with public fund and now paying the price of his carelessness with a 3yrs imprisonment term. And this should be a very big lesson to everyone & most especially the "Newbies" never to invest public funds in crypto with the mindset of making profit, withdraw and refund, which is a very big risk due to the volatile nature of crypto market, and most especially "meme coins" which has the most volatility compared to Bitcoin, because only if had he invested such huge fund in Bitcoin, he stand the chance to have made much profits compared to the lose he made investing in meme coins.

One of the main problems with most traders is that they never really make a plan in the case they fail, it is obvious that this person assumed they could trade the markets with money that was not theirs, earn a fortune and then return the money that they took and no one will ever realize what they did, it seems that it never crossed their minds that there was a really high possibility that they will not get good results, especially since they decided to invest in meme coins, so if there is any newbie traders out there reading this then you need to make plans in the case you fail, it is obvious that is a scenario no one wants to happen to them, but it can happen regardless of whether you like it or not.

Always have the behavior on having  that Plan B or Plan C or so on when your Plan A didnt work out but as much as possible which you should really be that serious on following your plan A. We know that not every

analysis and predictions we do made arent precisely able to follow or would happen and this is why it would really be just that right on making out some adjustments which it would be just a normal approach.

Trading isnt really that a get rich quick kind of thing because it does involved skills and knowledge when dealing up with it, if you arent really that good enough on this then expect you would really be having
that kind of outcome or results which isnt something according into your likes but of course it would really be just normal  that you should really be that versatile or would be able to adapt and make out
adjustments if you wanted to. We should really be having that realistic approach on to this because if you would really be having those expectations then you would
likely be comitting lots of errors and mistakes along the way which we should really be needing to avoid on the first place.

Some people thinking,the short way to get rich by the trading,but it’s apply after certain period of time.This is not the short phenomenon,some greedy traders invest their money and try to get rich in one month.Actually it takes huge work of trading with different capital.Mostly the money to the trading should be increased with the increase in the profit.Every profit should be added in the way that the profit also increased gradually.When you are face the bear market,just hold the coin without any hesitation.Anything can be changed over a night.So we need to wait til that night for the pump.Bear market is not the permanent one.

This is a basic understanding that must be owned by every serious person in the crypto business, especially those who want to trade or invest in crypto. Because often I hear someone wants to quickly get a lot of money by trading in crypto. I often see how affiliates or influencers try to influence potential traders to trade with such high promises. Whereas in reality this is not the case... Trading is not that easy to make someone rich. On the contrary, it can actually make someone poor faster, especially because he is not capable of trading but forces it like gambling.

That is why, before we trade, we must ensure that our emotions are normal. Trading requires more than just market analysis. Even if we are very excellent at it, if our emotions continue to govern us, we will lose. To accomplish this, we must understand psychology by reading books such as Trading in the Zone and Atomic Habits and it is recommended by most profitable traders. If we accomplish this, we will be able to keep to our plan and avoid the revenge trade, which is extremely risky for our port.

Why does a reputable media like CoinTelegraph call meme cryptos ‘stocks’? Is Dogecoin or Shiba Inu a stock? Of course not. Even security tokens and equity tokens can’t be called that.

Let me tell ya that if I had continued to day trade before, I would have been homeless until today. Trading is not meant for everybody and I have been telling people/users from that. It's perfectly fine if you're a hodler or do other strategies in trading crypto.
It never was meant to be a "get rich quick kind of thing" like you said and in fact, it could be "get broke quick". Some people are just really gifted to do these kinds of things.
HODL if you can only afford to HODL.

Considering how popular meme coins became, I am not surprised anymore that they were called "stocks", lol.

Exactly. Using the embezzled money in meme "stocks" are ridiculous and you're not in your right mind if you invest in meme coins using the money that is not yours. Is he thinking this can make him rich? Even if you invest in Bitcoin or other established coins we can't 100% guarantee a good result, so what can you expect if you chose meme coins instead the ones that are already established? It's a huge mistake if you believe this can make you rich quick.

Anyway, it's an eye opener for many people to not think that you can get rich in snap.  Because it depends on where you invest, your knowledge about it and how patient you are to wait because it can take a long period. In addition, don't try to trade if you have no money of your own to start your journey.

That would be the most stupid idea I ever encounter here in forum ,
those people that seeks chances to be instant millionaire , even wanting to find GEM so they will be rich when they woke up in the morning lol.

actually trading is something similar to Holding and yes , if you wanted to become richer then you must be ready in holding or keeping your coins once it fails you to earn.

Recently people now are making gambling with the shitcoins because we know how it goes into an instant profit but not this kind of story always happens, for some reason, some lucky people get an entry into altcoins or these kinds of coins and take profit once they make an excellent multiplier of their investments, and some of the people getting courage with this motivational content by them and hoping it will happen this at them which is not impossible but luck. If you are an investor and have a extra for an investment this is ideal but taking all your money in a single pot this makes risk all of your money, not in the crypto space are guru they are just lucky enough to manage the risk.

That's just for their readers for them to easier to understand. It's easier for them to relay to their audiences if they'll just call it meme stocks, instead of meme cryptos. But I do get the point and they should call it as is because that's what should be called.
Other than that, I'm thinking that it's just all about these jargon words that they're avoiding for their readers to get some attention and can easily relate to what they're telling and specifying about the subject matter.

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.

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.

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.

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 did have lots of bad experiences on investing into meme coins specially into those which are newly launched specially on Poocoin or Dextools in between BSC and ETH
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.

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.

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.

I feel like as long as you do what you should, rest should be with just time and smart decisions as well. Nobody can get rich quick, but there are people who fail to get rich slow as well, they end up investing into things that they think will make them rich quick, and lose all their money, you shouldn't do that at all.

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.

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.

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.

One of the most dangerous things when it comes to trading or investment is on the time where FOMO do kicks in on which noobs are usually getting been sandwiched and left out on the top or peak spot

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.

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.

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.

You gain practical experience that will give you a good lesson. Trading is not a quick rich scheme so you can get good money as soon as you join. But if you have patience and acquire proper knowledge, you can get desired results from this platform. When most new traders start trading in crypto, they think irrationally, which leads them to crash quickly. It is important to remember that profiting from trading is not an easy way. It can be said that trading is a battle field for the wise.

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.

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).

Don't be surprised by that because many think that it's like a lottery bet that will make them rich overnight.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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

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.

Perhaps, it was just an assumption because no way we can earn quick profit from trading, maybe you are talking about losing quickly? In fact, experts can never say anything. Well, they might be in a situation they would earn easily because of their experience and market knowledge but for newbies, I'm really sure that it never exist. Maybe if we talk about a simplified way in order to improve our chances to earn more, that was possible.
That is why we never see new traders become rich instantly but honestly, they are in the struggle with how to adjust themselves to the changing behavior of the market and place good trades.

Luck is part but most of the time it would really be relying on your knowledge and skills for you to be able to sustain up trading and this is something a more realistic approach when you do engage up with trading on first time. Yes, there would really be those initial impressions that it would really be that looking so simple and thinking yourself that you do get this but on the time that you would be experiencing it then you would really be having a taste on how unpredictable this market is. Just like the rest been saying that trading isnt a get rich quick scheme on which you could simply make out money out of those moving prices. There's no way that you could be able to handle out yourself most of the time and would be making out good positioning in towards your buying entry.

You might be able to get 1 or 2 good shots or spots but doesnt mean that it would be lasting up on longer runs. You would be starting to realize when things turns out to be already that challenging or something
that starts on getting much more harder. You would be soon realize that this isnt something that you could be able to take a grasps on a short span of time and does really need that extreme effort
and time allocation for you to have a good hold of it.

Options when trading can bring profit quickly? I'll like to know that for real. Trading is about quick profit and loses as well but, most times traders lose more often than they profit.

I just went through a thread minutes ago and the theme was centered on making $100 daily out of a $4k bitcoin capital in some investment, speculatively.
I think that's very much a get rich quick speculation there. Like, how long did it take to gather up this $4k. If that was quick enough, user might have as well stick to the process but, I supposed it took quite some time and that's why the user hopes to get a quick path out of some other investment but, hoping to get so much is always dangerous.

Users might look towards a slow and steady pace, that goes too.

well, basically everyone will have a different strategy in trading, and trading is not an easy thing. Many people feel that trading is an easy kind of job and the kind of job that can easily make people rich, but they are wrong. trading might make people get rich quick, but if done greedily and without a strategy, it can become a tool that makes you quickly run out of money.

Experienced people always say that trading is not for getting rich quickly that is a true fact. Unfortunately, many beginners fall for online mentoring, or influencers who show off their trading wealth and say trading crypto coins is an easy way to earn money. the fact is beginners are more interested in it until they regret the losses because they think they can get rich soon by being in crypto trading.

Focusing on pro traders and their strategies, will improved our minds and earnings. Experienced traders understand how the market works, but newcomers who are eager to make more money are frequently victims of online scams and ponzi schemes. Trading is not a get rich quick scheme, it's a gradual process and we ought to follow crypto step by step. There are procedures to follow in order to begin earning profits in the space, it do take time but it's very easy once everything within the sector of crypto. Crypto trading is the new advance way to make easy profits.

True. Whatever your intention of doing such crime, it will always end up of coming back to you and make you pay for it.

Trading may be one’s way of making one’s person highly profitable but it won’t happen very quick. You should be a good trader first and learn to trade only on the potential coins that are promising and have higher chances to give huge returns. But trading using steal money will never make you profitable. Instead, it will only endanger your life and put you into your worst situation that at some point, you can’t easily get rid of it.

^ That is right and I agree.
Newcomers should know that trading is not a get-rich-quick scheme and that there are many online scams and Ponzi schemes out there that can take advantage of those who are eager to make quick profits. There are many resources available to help newcomers get started in crypto trading, including online courses, forums, mentorship programs online, or even Youtube videos. By taking advantage of these resources and learning from experienced traders, they can develop their skills and increase their chances of success. In short, there is no shortcut in trading.

Most newbies wont really be doing or having that DYOR because once their first impression would be minding about easy money then they would really stick into that kind of idea where money making would really be
easy into this field,without even trying to look nor read up into those peoples realtime experiences and dealings about this market and specially with trading which is something that cant really be that so simple to
be handled out.Trading is indeed not a get rich quick but once noob do see those huge percentage gains on neither on facebook or on social media then those kind of initial thoughts and
belief would really be molded out and this is the time that they would really going into this career and dive in without any proper preparation.

Sooner or later they would be able to realize that this market isnt simple as it behaves because volatility would really be your main encounter on this one on which it wouldnt really be that something predictable.
We are all speculators on here and there's no exemption whether you are a pro or a noob. We wouldnt really be able to know on where prices would be going.

There's nothing wrong if you want to take risk and see if there's a good result to gain huge. However what's not right is to steal money because of your eagerness to invest in crypto and worse is he chose meme coins that we all know a quite risky investment.

It's really a lesson for many of us to not try to invest if you don't have idea of what you are getting into. Committing a crime just to invest has a punishment and you can't get away with it. So think carefully because it is still worth it to use your own money regardless of the result because you gained experience and additional knowledge through it.

Trading is a risky business it must be pursued by all. Those who find trading platforms easy I would say have not yet received a good education about trading. Greed and passion are the best among the few principles of trading platforms. Those who came here for more greed are destroyed from here. Especially the person you quoted here was trading Meme Coin with a 5 million dollar loan. Later he must have lost from meme coin. The person you quoted made a mistake in the first place because he started trading with a loan on a trading platform and secondly started trading in meme coins. So because of his mistake he is now damaged and jailed. Everyone should learn from this so that no one gets into such trouble.

Of course it isn't a get rich scheme. Anyone that thinks that they can get rich trading, are in for a huge disappointment. You need to know the market well before you start trading. You need to be patient when trading. You should know about all the risks involved. There are chances you will end up losing everything. But sadly there are people that think trading is a job that everyone can do and get rich overnight. Wouldn't blame them. We should be blaming the media more because on how they focus on stories where people get rich real quick by trading some shitcoins. People don't realize that they got lucky and most of them ended up losing everything.

Many people have gained a lot of money by trading and many people have lost all their money due to wrong decision trading and now they are very depressed. I think trading with your own thoughts by choosing the right time to trade and taking advice from experienced people can lead to many ties.  It will be good. Sometimes there is a possibility of loss due to wrong decisions. But if one thinks that they will own a lot of money by trading it will be very foolish. It is very good to earn money slowly by trading and if one wants to become a big man by trading.  Then he will lose the money.

Of course, the cryptocurrency market can be a great platform to earn profits.As far as crypto coins are concerned, there are multiple coins in the market that can give you the best return.Investment is easier than trading here you just have to invest in good and top market cryptocurrencies and keep it with you for long time.

Each type of market has its own requirements that you will have to follow.Trading is definitely difficult but not impossible.If you trade in the crypto market after gaining complete knowledge and experience, you will definitely get opportunities to earn good profits.Without experience and knowledge, if you venture into any business, your risk of loss will be high.This cannot be limited to the cryptocurrency market.

I agree with you, that one of the reasons why some people think that by trading they will get rich quick is they see people or influencers or the media who show that trading is easy. We can't blame people who think like that because basically they are not educated about trading. For example, what are the risks they will get when trading or other things related to losses. But now the facts that are happening in the field are not the case, they only provide content when they benefit without providing balanced viewing when they experience losses. Those who show when they are profitable because they want to attract newbies, in a sense the profit is only on their side.

It's true that becoming rich through trading requires a  lot of time and patience, It's not something that can be achieved quickly or easily. Unfortunately, as you said there are many online guides that make false promises, such as "how to make $100 in trading in xx time" or "how to make a 200% profit in just a few hours." These guides are often scams, and their primary goal is to take your money. It's important to be cautious and skeptical of such claims and to do your own research before investing your money in any trading strategy.

I feel like it's okay to seek out guides and information when it comes to trading, but it's important to exercise caution and avoid putting your money into any shady strategies or giving your money to someone who claims they will trade on your behalf and guarantee a return.

If you want to learn the basic of trading just start from the beginning and climb slowly and everyday you'll learn more and more till you'll be an expert and then you'll understand how foolish people who follow influencers online.

Well in this kind of market condition nobody could get rich in a short period of time, because the market is really not the same as what it is back in the year 2017,i remember during year 2017 cryptocurrency that time is very amazing you can earn even by joining a bounty campaign  unlike today we cannot earn in a very quick way we really need patience this time to hold for good.

A very normal kind of approach when you do have these kind of insights in regarding about trading which you do believe that this might be an easy way for you to make yourself getting rich but on the time that reality
would be slapping into your face then this is where you would say that it isnt really easy it sounds or looks on the time that you do able to have that actual dealing and experience to it. It is really just normal that noobs would really be having this kind of initial impression when they do see about trading because they do usually be seeing into social media about some users or traders who do post up their profitable
trades and on the time that they do able to see it, then this is where they would be having on their mind that its really just that easy.

Mistakes or errors are really that common specially when you are completely newbie into this field. You cant really just that make yourself deal up without having that proper preparation because this isnt how this
market acts or behaves. You would be needing to put up sufficient time and effort for you to make out some good grasps into trading which it wouldnt really be involving that a short time
but rather a very long one.

I think that is the risk they are taking with their life as much as with others money as well. Because when they do something this silly, as we can see from the example they could get jailed as well. The best thing to do with money is to buy bitcoin at this moment but if it is someone else's money I would not be able to put it in anything, maybe like bank interest or just treasury bonds as well. Sure you are going to be beaten by the inflation but at least you are not going to lose anyone's money, that would be a lot worse.

What if I risk it and get something even small risk, like buying gold, and then it ends up going down? Or like some huge amount of gold is figured out? I do not want to be part of that and I rather just focus on what I can trust, something guaranteed.

Yes you told absolutely right. Trading not a get rich quick. If anyone want to get rich quickly by trading i think it will be great mistake for him. Trade has two side one is profit and another is loss. You have to ready for both. You have to wait for Better moments. When you get proper time you have to trade. Then you will get the chance to be a rich man. Otherwise you will be losser. So i will tell you to avoid to thinking for rich by trading within short time.

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

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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

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.

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.

If it's only done to gain an experience (lot's of it) then it was very wrong. We can still be able to gain an experience from our personal loss coming from our own hard earned money. Those who have lost a massive amount of money might leave and I think there is only a slim chance for them go back because they are divasted. Worse scenario can happen on them is they can end their lives.

This is why it's advisable for us to use only amounts that we can afford to lose but I salute those who can endure the pain and return to be a better version of their selves. Hopefully, they can now earn consistently and be net positive in the long run.

I'm so sorry for him and I'm sure he never budgeted this tragic end just as no one ever gets into a business expecting  to make any loss but funny enough, the losses are inevitable but greed is a factor that seems very difficult to fight and overcome because it comes with alot of promising offers that will end up slowing you if you ever give in to it.
I'm sure he must be weeping in deep regrets on how he would have turned down the offer that day but I'm sure he only imagined all the rewards he could get if he uses the money and how he could possibly  get all his dreams but it ended up this bad for him.

I hope we all learn one or two lessons from this stories and try not to let greed get us into anyone time regrets and only use money we can afford to lose.

Always be having on mind that whenever you do deal up something and if it does need up some funding or simply have that money then always consider on investing or using up the money which you can afford to lose.

Dont be that kind of guy who do have that kind of all-in kind of behavior on which you would really be believing deep inside that it would really be simple or something that you could be able to handle or believe that you could really be that profitable on just via watching others on how they've done it but on the time that you are the ones been doing it, then this is where things turns out to be shit as you would be able to realize.
There are indeed people who are getting wrecked just because they dont have able to set out those precautions and made out some huge capital on their first try.

We know  t hat it would be normal that once we do make ourselves able to deal up on something new then mistakes and errors is really very that common but there is really that kind of behavior
on which we are really that confident that we could do it until the reality slaps you hard and made out those realizations afterwards.

That's the key part of your whole statement "We shouldn't trust any company that we hand over our funds to'' because they can do away with our funds when we less expect their greed to take hold of them and gamble with our money.

This is what the organization we hand over our funds to, has been doing for so long without our concept. I believe there are many others like him gambling with the mass's funds. This will serve as an example and warning to them all, that they will be caught one day. Just a matter of time

Those who don't have full knowledge about Bitcoin investment, trading, or even investment in general may not really follow up on some situations educationally because they lack the knowledge. Just like the trading or Bitcoin investment we're discussing, do you know that some people think that everything that concerns crypto is gambling? And in gambling, you are just there to try your luck if you can win any; that's how many people are trying to put money into crypto to try their luck if any altcoin can give them 100X or 1000X of their invested capital, and like you said, even one can end in a financial crisis if they really don't know what they are doing. Imagine someone investing a huge amount of money into shitcoins and the coin dump and never pumping again.

Trading is not a get-rich-quick scheme the way many people thought it was; let everyone learn and have full knowledge about what they are venturing into.

There are many individuals who choose trading to change their financial situation. Maybe they get to know about quick profit by trading from other person which makes them decide to trade without thinking before and after trading. Because their goal is to change their financial situation by making a trading and earning a lot of profit in a few days. As a result, even if they don't have enough money at that time, they somehow manage that money and decide to trade, but when the real experience of trading comes in front of them, they understand that trading is not so easy. And if they trade at the wrong time, they suffer a lot financially during this period.  
So if we have this idea that it is possible to get rich very quickly by trading then we have to come out of this idea.

what makes a lot of people wretched is the thought that by trading it will be easy to get rich. especially for beginners which still require a long process. they only see someone's success and someone's ease in trading, without wanting to know their struggles to be able to arrive at the current condition, and this is what makes many traders experience defeat. of those who made mistakes at the beginning, there are some who want to learn and improve themselves, but most people will find it difficult to survive in the market, because they feel like fraud, even though they themselves do not master it

One thing to remember while trading is to control our own greed. If one can't control his greed then he can never make profit. For a few mistakes there is a possibility of losing all the money. If someone is new to trading then good idea about trading.  After that you have to trade. If you have no idea about trade, it will be better if you start trading with someone else's help.

At first, I thought this was another gambling story that involve a loan, but this is taking money from the public, this is a big crime and he deserved the sentencing of 3 years imprisonment,  this will serve as a big example to people that use the public money for their own selfish interests.

If this person understand crypto very well he won't dare took this path of possible destruction, I am guessing he is like many newbies that want to get rich quick, they just come up with a plan in their head, thinking it's the perfect plan.

If you must take risks the most stupid ways then at least make sure the money is your hard-earned money, do not use bring down the walls on innocent people that stay safe from gambling and focus only on hard working, at least go down the drain yourself.

How strange is that people think that trading cryptocurrency is the easiest form to make money. This is totally a misconception and many trader realise it once they start trading and are unable to make sufficient profits. Most of the traders start trading without any knowledge and when they are in loss they complain and think that cryptocurrency and trading is a fraud.

One must realize that we can make money with trading but after proper knowledge and experience and also we should remove this opinion that trading is a quick rich scheme.

Strange it is, but yeah, more than the average newbie thinks that way. And the FOMO in some newbies is usually so high that they hastily rush into it and throw away some money before they realize that it's not what they thought it was. I once had FOMO about trading, but at least I took my time to learn a few trading strategies and tool combinations before I started, and after I started, I just realized that trading is not that easy. One will encounter losses, and if you're not even very careful, you might not be making any reasonable profit. Imagine when someone is making just $5 every day, and maybe after some time, you are not satisfied with those little profits you make, and by the time you want to step up a bit to increase your profit, so your risk level toi, your capital just gets liquidated.

Anyone who is not experienced or a newbie trader should just know that there is nothing to miss out on in trading. Just take your time and learn properly how trading works, how to handle risk, and how to control your emotions. Otherwise, there will not be any profit, and even if there is, it may be just by luck, not because the person was confident that that was the result they were already expecting.

Cheers 🥂, Dr.Bitcoin_Strange 👺👺

This is really funny to think that when people say trading those no experience and no knowledge people will say it is easy as you just need to buy low sell high on which i really recall my workmate before that she wants me to do the trading and she just want to give me money and with the profit we will be half , they way she tell me that it is easy just buy low and sell high then its profit , which makes me laugh really as she thoughts it is that simple , well for sure on where she is right she really realize that it is not the case.

because nowadays many people are interested in what they can do and make them quick to get rich in an instant. the role of social media here is also quite a lot when professional traders share the catch of some of the profits he gets. and it makes the view of some novice traders follow.
The view of novice traders seems to be very reasonable, even though it's not true but people around us will still think crypto trading is something easy to do. they will try it and then regret the loss.

Yes, buy low and sell high is one of them, just like in sports trading. Futures trading is one of them too, but non of it is very easy. Some people think that buying low and selling high is just the start of making money in trading. That was why I said some people have FOMO, which becomes high in them probably after they see a token or coin that is trading for $1 today. Maybe after they see it in two weeks, they will see that the token price has increased to $3. Then they will be like, "If I had bought these tokens at $1 each and sold them now that they are $3 each in just two weeks, I would have made some profit." It triggers FOMO in them, and before you know it, they will rush and buy a token that has just been pumped, which can take like forever before it can get pumped again. Even before someone can think of buying low and selling high, they should also know they have to learn some strategic skills to do so.

All these ideas come from the need of many people to make money quickly, but of course the need on some occasions they do not know how to Channel it but they turn it into the same ambition that leaves them without money, so this type of thing must be done with great moderation, because trading is not for that , trading should be seen as a business where profits are made every day or Every week and it does not matter if they are few, they must be obtained, it is the best thing that can be done on the contrary when we only seek Profits The most likely Thing is to achieve the Opposite, which is to Lose and Lose.

The reality is that ordinary people or novice traders only see results without seeing the process which is far more important,
this is where I think the role of professional traders they have to be wise when sharing the results maybe it can be accompanied by the process,
what is clear is that novice traders must focus on learning both knowledge and skills.

We need to understand that taking high leverage like 50x or 100 x is not trading but it is more of a gamble. The serious traders will never take such risks as they know that the market makers will never let them make such big profits.

Trading is only profitable when you know your limitations, your expectations and your willingness to earn slowly and steadily.

I believe that trading cannot be considered as a business, it is essentially a job that will require a lot of time from a person and, In addition, this is a very emotional job that requires good stress stability, so it is not suitable for everyone. And when a novice trader starts buying dubious tokens in order to quickly get rich, we know how it can end up for him. Therefore, I am not a supporter of quick ways to get rich, since this often requires working with high-risk instruments.

trading cannot make you rich. you need big capital to get worth profit from trading.
only investment can make you rich from poor

actually, trading and investing can both give you the opportunity to become rich. what many people misunderstand is that they trade or invest without a clear strategy. they trade or invest without investment management which often makes them lose money. it's not even rare for someone to let their emotions take over which is very stupid.

trading and investing requires a strategy, there are many strategies that can be used and you can do some research to customize the one that suits you. but the most important thing is to control your emotions first, because many people fail here.

The key on here is that you shouldnt really be rushing on things because if you do then you would really be finding yourself into a big trouble on which it would really be just that the reason for you to lose money
instead of earning. People wouldnt really be that patient on waiting up for too long or trying out to learning everything on one day until the reality would slap up into their faces and would really be having those realizations which it would really be that a very common scenario specially into those people who do really believe that trading is really just that simple. Trading is indeed not a get rich quick thing
and it does really needing up that long time and lots of efforts before you could be able to take a good grasps and sustainable with it specially we are dealing on a market which is really that totally
unpredictable and volatile then handling up yourself wouldnt really be that so simple on where these noobs do usually initially believe on.

This is a common misconception in crypto or in general.
Most of the time when people found out that I am an crypto investor or trader they would say that, wow you must be rich or successful.
And for me it seems like whenever someone claims that they are a crypto trader or investor people would think that their rich, but we all know that it isn't always like that.
If being an investor or trader would instantly turn your life around then there wouldn't be poor in this world people should know it.
Just because your an investor or trader doesn't make you rich like when you have a business not every business would be successful.

It's not really gambling; some people might make profit at such a high leaverage, but it's really so risky because, with any slight volatility, your asset will just get liquidated in an instant, but when the price goes as you predicted, you will still make profit at such a low level. I know some experienced traders do use high leverage, and they do make heavy profits and heavy losses as well. Just like the big push up in the Bitcoin price, traders who pushed the sell button with such a high leaverage would really make big gains in that market. As fast as the profit counts when the market suddenly becomes volatile, that's also how fast the loss falls. You are right that profits come when people know their limits, but traders who take big risks don't mind leaverage because they seems prepared for the loss and the profit, anyone that comes. 

I really don't understand what you mean by market makers, but when referring to Bitcoin, the market is so dynamic that it's not controlled by anyone. If you also mean the exchange where future trading is allowed, since they are not in control of the volatility, they cannot determine one's loss or profit; it's usually based on the price movement. Like they can't stop you from making profit when the market is in your favor and you used a high average.

What's going on in that ex-CFO head when they invested on "so-called meme stocks"? I doubt they didn't even know the risk of that and just went with the chance of big profit if it caught but in the end it's not and pretty deserved to be honest. If you wanted to be rich then your choice was meme coins then you should consider that, even that there was a real proof that you could do that but still so many people were bankrupt because of this type of asset and many people continuously falling into this hole because they just solely looking for the money instead of the risk they should face.

Usually newbies on which they do really see that it is something that so simple that they could really be able to deal with specially when they do see online on someone on making out some profits and
seeing those charts on which they would really be having that kind of impression that it would  really be just that simple to deal with without even trying out to realize that they should do their assignment first before proceeding. Trading isnt something an activity or whatever it is will really be that so simple to make profits or money with it.

If you are really that hardheaded and would be sticking into those principles then it would be your choice but for sure you would really be experiencing that huge losses until you do realize on whats the fact.
People do usually having this kind of impression that it might be that so simple but on the time that things turns out to be on that actual dealing then along the way you would really be able to experience
the bitterness about losing money and regrets would come in place but somewhat you do eventually learn on what it is all about.

a quick way to get rich is just patience and effort,
it doesn't matter if you trade have thoughts of becoming rich because in my opinion that is good optimism,
if the thinking is good then I'm sure learning to trade the right way will work, yes no problem, just we just have to know the reality.

Trading is a professional business. Unlike most people, those who trade to make quick money or get rich quickly, often lose all or most of their money. As someone who has been trading for years, I can say that it requires a great deal of discipline and personal control.

Treating trading as a business is a game changer. Every loss is just a losing transaction. That's it. No emotions attached. You still get back in front of charts tomorrow and see if there's a trade for you. That's how you can easily find consistency in that perspective. And it's a long journey. YOu will learn more a lot from the market and more importantly about yourself.
That is when you see professional traders are great to control themselves. Because with trading, it helped them to reveal their own character flaws and overcome it. Discipline is the key, everyone knows that, but not everyone knows how. And that is the key on trading.

Market makers does pertain about those buyers and sellers in between in the market which do make out those purchases and selling out a certain coin.When it comes on choosing in between spot and futures trading then it would really be that understandable that risks is higher with higher leverage trades compared into those who do make out spot. It is really that according into someones choice which one they would really be engaging into because there are ones who could really be able to bare up with the risks and there are ones who couldnt really be able to do so because it is way too risky.Trading is indeed not a get rich quick thing
and newbies are the ones who do only mind off about getting rich with trading in short time basis which we know that it cant really be that possible.

Yes, there are ones who do make themselves as sustainable traders or making profits but this isnt something a state which everyone could be able to reach out. It does takes lots of years and tons
of trials and errors which you would really be able to experience before you do reach on.

They will certainly lose because of the mindset that they have that they want it the quickest.

And patience, do not forget about that. When you've been into trading and you get to realize how hard it is, you'll be needing very tough decision-making because you'll need to get off some profits every time you do.
There's no space for being greedy here unless you want to stay longer and you're okay that the market will recover the profit you've made.

You cannot get rich quick by trading. If you trade, the profit of trading will increase gradually. If you want to profit from trading, you need to trade long term. And if you expect very quick profit, then you should choose alternative way of trading. For example, betting or gambling, which is high risk. Trading does not give anyone quick profits, it grows slowly. You need to know and understand better about trading. What are the benefits of trading, how risky is trading, these must be understood. And to know about trading market.

Before purchasing anything, we also need to decide whether you are investing or trading. We get confused about two things very easily.  But there is a difference between the two. Trust in the assets involved in the investment. Decided to keep them for a long time.  The risk is much lower with this strategy. On the other hand, the goal of trading is to make small profits through regular buying and selling. It takes a lot of time to become a good trader. Traders always have to adopt complex strategies. A trader has to take more risk and spend more time analyzing the market,trading platform. Cryptocurrency markets can be more volatile than conventional markets at times.

You are right. Personally, I see sport trading as being less risky compared to future trading because in future trading, with a very high leaverage, if the market becomes so volatile, your asset gets liquidated. If you also apply a little leaverage, when the market still gets volatile, your asset will gradually liquidate. If the person doesn't have enough assets and the market keeps getting volatile in your opposite market position, your assets will continue to liquidate, and unless you cancel out, you may end up losing all your assets. In sports trading, if one buys a token or coin and the price drops, there is likely a possibility that the coin price can go up again and you will still have your coin to sell, not like in futures trading, where your assets melt away. Although new traders have the choice to choose the aspect of trading they want, I feel there is more FOMO among newbies about futures trading than sports. Just my guess, though.

Personally, trading is not promising us for getting rick quick and many time trader or investor loss their money after doing fatal mistake like investing when the moment on all time high price. But have progress with many people show us with their success achievement after investing or trading in cryptocurrency but why not ask about how much loss and how many days they have active in trading? Trading is not easy like our imagination with earn profit 20% until 40% every day, many investor loss their investment in cryptocurrency trading from investing in shit coin until unpredictable mistake with potential project collapse like Luna coin network.

Better removed mindset about trading is one way how to get rich quick, running as usually and step by step learn how to be success in cryptocurrency trading for consistent earn profit although not huge profitable.

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. Although it is possible to make profits quickly in trading, but it requires the positive approach 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 you a good trader/investor. One thing more important is that on initial level, you take by-part trading i.e small trading instead of all at once. 

Trading and investing in cryptocurrencies and meme stocks should be approached with caution and realistic expectations. It is not a guaranteed path to quick wealth. Bitcoin and other cryptocurrencies can be volatile, and investing borrowed money is risky. It's important to only invest what you can afford to lose and to understand the potential consequences of trading activities. This story serves as a reminder to exercise responsible financial decision-making and to be aware of the potential legal implications of improper trading practices.

Everything would really take up on process on which there's no way that you could really make out some shortcut on learning from it because it would really takes time and lots of effort for you to have a good hold into it on which noobs would be normally be skipping out this process and would really be thinking that this is something easy to deal on with. On the time that they would be experiencing
those real time losses then for sure they would really be making those realizations that it isnt really simple as it looks.Taking up risks on the time that you would really be deciding on touching up trading ,
doesnt matter if you are going for Forex/Stocks/Crypto market it would really be just the same.

Its true that on the time that you would really be having that a good grasps with trading then you could really tell to yourself that you could really indeed make money but of course it wont really be that
guarantee but once you do able to sustain then you could call yourself a profitable trader despite of those losses but still ends up on having gains which this what matter the most.

Don't think about getting rich quick when trading, because that can affect the results you will get,
because if you want to get rich quickly, of course the profit you have to get must also be a lot and the method is by using Leverage x100,
if you are reckless then you must be prepared to bury your dreams you to be rich.

Actually this is the first golden rule of trading: You should't use money which you can't to lose

I remember last year I connected to step-in project and there was a man who invested in the project all the money intended for the agricultural business just before the project began to fall down quickly.
Another man took a loan from the bank, too, before the fall of the project. I hope these stories have taught them something and they are not in prison now. I'm sure that there were many more similar stories but these two I remembered the most
By the word FTX founder recently had the same situation when he used other people's money and it ended badly

I absolutely agree with you  but if he had't been imprisoned or punished otherwise, it would have been an even worse message for other people.
On the other hand, it is difficult to consider what the term of imprisonment in prison should be, because we do not know all the nuances.
Perhaps one of the most difficult tasks for a court to punish financial crimes
I don't know what the punishment should be, what do you think?

Using x100 leverage is an instant way and it may seem like gambling. If you are lucky and in accordance with the prediction, there will be a lot of profit (depending on the capital too), if the price prediction does not match then get ready to be liquidated.


It was a stupid act committed by the former CEO of FTX. using other people's money without permission is a criminal act and this is fatal for everyone.
He will probably rot in prison and has no assets anymore. Getting rich quickly in crypto can be very easy and very difficult, depending on how smart you are in managing crypto and how much luck you have.

Being quick in getting rich is gonna have yourself fall into losses. That's guaranteed because you're not in the right process for which we know that trading like that is quite hard.

Or if you want to have it the slow way and that's a better thing because you'll hit targets slowly but surely. And even it's gonna be hard and slow, at least you're not in a hurry.

We know that everything that goes in a hurry is not ending well if it's about making money.

I do even see that futures or high leverage trading is really that a gamble and this is where newbies do really love on which they do love on seeing quick profits but at the same time they didnt realize that losing their capital or blowing up their account is really that so simple with futures trading and this is why its never been that right to have this kind of approach towards it on which it is really very a risky thing to be done.
Trading isnt something that you would be able to succeed if you dont able to pass lots of trials and errors or simply its not something that you could easily deal with and it does take lots of time and effort
for you to have a good hold into it.This isnt just some fly by night thing on where you do have that kind of approach on believing that this is really some sort of quick rich thing.
You would soon realize these things on the time that you would really be having that kind of situation that would be facing on.

I don't think he'll rot in jail, but he'll have to spend some  period there.
The worst thing is that he cast a shadow over the whole crypto world with this act. A lot of people don't really trusted it before and especially after that.

I agree with you that you must be smart, have experience in trading, constantly improve your skills, be patient and self-disciplined, but this absolutely does not guarantee that you will be successful in trading. It's increasing your chances, but not give a guarantee. You used the word "luck". I'm talking about it

at least becoming smart and experienced in trading will take time. no one instantly becomes a professional trader. meaning that those who become professional traders are not without the risk of loss. but they can minimize the risk of loss with the experience and skills they have. so the opportunity to profit will be greater.
I wouldn't say trading is a part of luck. those words are only used to be modest because they don't want to be called professional.

you're right, professional traders strive to showcase the effort they have put into their art by highlighting the value of competence and experience. It is not a sign of modesty; rather, it reflects the devotion and hard effort necessary to attain constant success in the trading industry. They recognize that chance alone cannot ensure long-term success and that continual development and learning are critical to being competitive in a constantly changing market context.

Patience is very important for success everywhere. A person cannot reach his destination until he can persevere. Success in trading requires both patience and experience. But there is a trend among the newbies that trading can lead to good things quickly. But this idea is completely wrong. It is not possible to make good money from trading without knowledge and experience. Even though many have good knowledge and experience but they fail in trading business. Sometimes despite everything, a trader may be exposed to losses that many would consider about luck. So one should not get involved in trading with the aim of quick rich.

Which do means that it would really be needing that ample time and effort for you to reach out a certain state on which you can really call yourself as a trader.This isnt really that get rich quick thing on which you

would really be might seeing lots of results been posted on social media but the truth of those post about those gains arent something that simple to be done when you are actually on the actual market situation.
If you are a noob then you would really be having that kind of impression on which money making with trading would be simple but on the time that you would really be making trades on yourself
then you would definitely tell that it wont really be that so simple and something that hard to understand.

Trading is something that talks about selling and buying on which it would really be just that normal that being unpredictable and volatility would be the main thing that you would be needing
to face on.

I believe some newbies still see that cryptocurrency market as a place where they can make quick money from and make themselves earn more. Trading is one of the important aspect of crypto where we can make fast money if we know how to trade to earn more from the market.

Apart from trading, there is no other way we can make money in the crypto market that can give us a fast profits. Investing in different coins is very risky and we need to know that but making the right choice can give us fast profits if we know how to recognize good projects that have the possibility of hitting 10× to 100× to give us a quite an huge profits.

Although not rotting in prison I hope he receives a fitting punishment.
Maybe get some welcome gifts from other prisoners.

FTX has been the cause of all the drama lately, making the crypto world even more shunned, but also giving everyone the realization that no CEX is safe even if they are at the top of the rankings.

Luck is a phrase that might be different for everyone. Luck will only come for those who dare to take risks even though there will be no guarantees.
Experience and good trading skills will be the basis for the luck to come.
Trading is not a way to get rich quickly, but a gateway to wealth, and also investment is the best way to grow wealth.

I think that those who come into trading with the idea that trading will easily make them rich in a few days, trading is not really for them. Effort, time, and patience are essential to be successful in every where, and it is also in trading. But if we look in reality then most of people are come to trading with the intention to get some quick money.  And those who can move away from this idea and actually gave there effort those can be successful at the end

I tend to think that it is better to make fewer transactions, and not focus on daily earnings, but wait for a favorable moment for a transaction. Waiting for market drawdowns like the one that happened yesterday is more like medium-term trading, but it's the way it works for me. I do not try to calculate how much I managed to earn on average per day, because for me only the final result is important, the amount that I managed to earn.

The path to quick rich is not trading and is not holding, anyone seeking to get rich as quick as possible always end up in scammers hands. To be rich through trading requires a lot of time and practice over and over again, the losses and the profit over time will make new traders becomes expert even without margin trading, but sadly that is what some people think will get them rich quickly. However, Trading might be a lucrative business for some traders that are expert in it but I prefer to see hold a coin than trade it, traders don't have to bother about loss when they also hold coin if they don't sell it.

Most centralized exchanges also follow the same method, they take investors' money and trade it on the stock market. Regulatory laws enacted by the government must take into account a very important point, namely the need to force platforms to separate company funds from user funds, otherwise we will continue to witness more such cases.

This also applies to investors, they should learn to put trading money only on the stock exchange.

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How can such a risky venture which requires a lot of calculation and position studying will be seen as a get-rich scheme, no wonder many of them have a bad experience with gambling since they already build the mindset of hitting the jackpot thereby forgetting all the fundamental steps that are involved in trading for a successful venture.

Trading is like every other business there for it requires time and knowledge in the area to make a good profit and minimise losses

My guy lost huge some amount of money in the name of using trading bots, Some bot used to work at the beginning but when it gets at some point things begins to fall apart.


I highly discourage the idea of people borrowing funds to trade or investing a borrowed fund, let alone trading without their own money. Trading involves risk and that risk should be taken just with your own money and not just any money but basically the amount of money that is losable to you, in order to be able to bear the loses you may incur. In case where you want to manage other people's account you must have become a professional trader to do that.

as long as he is a professional in the trade, it is acceptable. because there are indeed day traders who can benefit in a short time. but it doesn't make you rich in a short time.
Such thinking will only exist for someone new to crypto trading. Even with big capital, when he doesn't have skills, it will only make their money run out.
some people who are experienced in investing also put their money when the market is in a downturn. and wait a bit in short pump conditions and then profit from the situation. this is possible to do but quite difficult for a beginner to do.

I think those people who come with such idea have some psychological issue. To become a consistently successful trader, however, time, effort, expertise, and experience are required. Though it is possible to earn quick profits in trading, it requires an optimistic attitude, realistic expectations, and an understanding of the risks involved.
Trading demands a thorough understanding of market conditions. Risk management and a disciplined planning are essential for navigating market volatility. Trading is about evaluating probability rather than predicting events with certainty. Realistic expectations and ongoing learning increase your confidence and ability to take risks, making you more successful trader/investor. More importantly, on the initial stage, you conduct by-part trading, i.e. small trades, instead of everything at once. 

We need to have the impression that we can not continue making consistent profits from the market, there must be a time when we are going to be making loses too. This profits we are making in the market are others traders loses so we need to prefer for when we are going to give out for loses too. This happens to every traders whether you are pro trader or a newbie. We need to lose too for the market valuation to be balance and it is necessary. To keep up as a profitable trader, we need to improve the way we trade and ensure that we keep learning even when we are making profits.