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Most novice traders are wrong in their mindset that by trading they will earn a lot of money in a short time. That's why so many traders are disappointed because of their own mindset errors. It is difficult to develop people who have goals like that, because it will disturb their psychology in achieving big targets with immeasurable risks. Many of them are disappointed, but those who are aware will certainly correct themselves from their mistakes
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YES, but to become a professional trader doesn't just come with words but more on actions.
- focus
- dedication
- patience
Trading is a risky job but never thought that was too difficult to learn because things can be learned if we have to. But of course, don't assume that once we have knowledge, we become confident enough instead, keep on learning new things and ideas because the market trend is changing and we need to upgrade as well. Stay on the limits and keep mind healthy.
I agree that we need more experience on real trading because when we have lots of experience in trading we will have more intuition and a lot of strategy to choose where the next movement is. We can utilize demo trading to sharpen our experience if we lack capital, our experience will gradually increase along with how to manage our emotions such as patience, dedication, greed, etc. Don't easily get affected by influencers out there cause it's only will benefit them. with experience we can cover our trading shortcomings so that later we can become professional traders. It's not easy to get there, but we can do it according to the process we go through. in theory maybe we can master it immediately, but trading practice will be different from theory, but in practice we need theory to implement it. there is no pro trader who has not experienced failure, and of course they now know how to overcome it |
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It is true that some people are drawn to the idea of generating quick money with cryptocurrencies, which increases their vulnerability to fraud. being aware that social media manipulation is a common tactic used by scammers to trick and mislead people these days. As you mentioned, they may create a sense of pressure, use persuasive strategies, or give misleading information to deceive people into acting rashly or disclosing private information. I believe that greed may be the driving force behind people's actions, like their rash attempts to benefit from cryptocurrencies without conducting enough study.
I'm talking about how the prospect of huge profits and great returns can occasionally cloud people's judgment and cause them to act rashly. Naturally, fraudsters take advantage of this greed by presenting investment possibilities that look too good to be true or unrealistic returns.
Since cryptocurrency markets are known for their volatility and the possibility of significant price jumps, I also believe that fear of missing out plays a role. People may therefore rush to invest without doing adequate research or realizing the hazards involved out of a fear of missing out on the big profits others are making. I believe this type of thinking is typical among certain people.
Yep it's common here on crypto space. I believe that there are a lot of people thinking the crypto is a quick money machine, with the current trend of airdrops and with the lucrative rewards in it, no wonder why people who has no idea of how cryptocurrency is hooked just because on how lucrative the space is. Of course scammers will utilized the opportunity that there are still a lot of potential victims, a lot of influencers and social media promotors where used to promote scams. Social media now is a good marketing platform but it is sad to say that scammers are not new to social media that they can make people think they are legit. This is why gaining knowledge on crypto is important, imagine there are people who has a lot of experience on cryptocurrency but still getting scammed by innovative scammers. Indeed, it's true that fraudsters constantly create new, sophisticated techniques, making it difficult for even the most experienced people to spot bogus claims. They scam others and frequently use dishonest advertising, fake promotions, or pretend to be well-known members of the cryptocurrency community. Even though those with years of experience in cryptocurrency might have a comprehensive understanding of the subject, I believe that when confronted with alluring offers on social media, they might need to take simple security precautions or perform careful due diligence. They seem to be marketing, not real investors or traders, so that in an innovative way they can attract customers who don't know crypto, or even customers who already know crypto but find it difficult to make a profit. Armed with the image of being a professional trader, they can trick their prey, and unfortunately, even though it has been a long time, there are still many people who are trapped in this situation. |
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Glancing through the article https://cointelegraph.com/news/bitcoin-rent-agreement-argentina-landlord-tenant one would conclude adoption is striving in Argentina. Paying for a house with bitcoin sounds to me a mistake or lack of financial knowledge. Bitcoin is better than Fiat. Bitcoin increases in value and fiat faces inflation. Why then would one spend Bitcoin instead of fiat on a house rent which may expire in few years? Accommodating the Bitcoin can birth the person more money to pay his next house rent. But fiat wouldn't add any interest in the bank. Moreover the house owner will not hold the Bitcoin. It's not a bad idea to pay house rent or other bills with Bitcoin infact making payment transactions is another way of Bitcoin advertisement which is one of the ways to make Bitcoin get more recognition and popularity around any place that is still seeing it as evil or scam. If you have a mutual agreement with someone and he's willing to accept payments in Bitcoin I would suggest you do that but don't forget to also consider the price of Bitcoin just in case you stand to pay more charge on the fees. People will consider doing payments with Bitcoin once they realize that Bitcoin can be be used to totally replace what fiat is used for in a better way without having much stress. We still remember when Bitcoin was still worth $10k until it finally became $60k, for example, it has increased many times over, so I think there's no harm in diversifying some of our profits into property, so it will be safer, and especially at that time. if we convert it to bitcoin and then buy it back at around $16k, of course something like this if we have sufficient knowledge will be more profitable |
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In terms of the potential that Bitcoin has created, it can be said without a doubt that Bitcoin can't cause anyone's damage. Some governments think that once Bitcoin is legalized around the world, people will only be hooked on using Bitcoin. As a result, they will lose much of their economic control. Because they are unable to control Bitcoin, Bitcoin is not a government asset. So they don't have the power to control Bitcoin. Due to which some governments have made Bitcoin illegal. But currently Bitcoin has managed to create as much dominance as. It is likely that the government will enter Bitcoin in a very short period of time.
if the government loses control then they will lose a lot of profits as with fiat, so it is difficult for them to legalize bitcoin, but by seeing the increasingly rapid development of bitcoin then they get new land to pay taxes from bitcoiners, and of course as citizens we can only follow the regulations made by the government where we live. but at least the government has not banned all bitcoin activities, so bitcoiners can still move to make a profit and the government gets tribute |
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Yes, of course, if we have investment assets for a very long period of time, we will definitely need another source of income, we cannot live every day with the assets we have. Investments not only rise, but prices fluctuate greatly.
but you need to remember that job loss can happen at any time, so we have to be prepared for something like this. So in my opinion we have to be smart about managing our finances and our time while still working at a company. Set aside a few percent for investment, set aside for survival and emergency funds. And we also shouldn't be too wasteful when we are young, it is better for us to live frugally when we are young, if our youth is used well it will determine our life in the future
That is what we call financial protection. Not just in the case of losing our job but also when some emergency may happen to us at least, if we can't work we still have money to use unlike in the situation where we are fully reliant on our salary and if the job is over, we're empty as well. So while we still have the chance, we must take the necessary things to do in order to grow our savings plus have some investments. In this way, we already secure our future. We won't be like those people who keep overspending and prioritizing themself now for some nonsense thing but not preparing for the future when we can't work anymore. To get financial freedom, I think we have to have at least 3 sources of income, where the first is monthly income, such as when we work or have other businesses that generate income and are able to meet our daily living needs, after that we move towards passive income, where our assets can generate money. without us having to work, for example on rent. On the other hand, we also have to have portfolio income, such as empty land that is increasingly being developed or investing in shares or cryptocurrency |
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There are many altcoins that are not very well-known but have the potential to grow in the future. However, investing in them is very risky and you should do your own research before buying any of them. ..
The higher the expected profit, the higher the chance of losing your money. But your list of coins does not consist only of new ones, since I see many such coins that are already known on the market. So you can focus your purchases on coins that have already proven themselves well. In this way it will be safer for our funds, coins that are well known and have been on the market for a long time, especially if they have gone through a bearish season, are an indication to invest. if we are chasing up to 100x profits in every bullish season, maybe we can choose a new altcoin, but this also contains higher risks, therefore we need diversification to be able to secure capital and continue to participate in the high rise of new altcoins |
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Everyone will definitely be happy to see the market improving, all projects are starting to be able to carry out their development, some projects may have been very disturbed by the market conditions during the bear period, and now they are slowly improving.
true. Everyone like the environment where crypto marke getting pump or Start recovering from a point where it stop itself to dump more. Although market was going well due to ETF approval of BTC, but suddenly market go to correction period. Although a months before, market condition wasn't good enough but now Atleast altcoins are trying to pump which makes people happy. And it'll be more interesting when bull market will start with its full power. If we see a green market it makes us happy, especially if we have invested before, so we can see an increase in profits, but this often happens afterward when the market makes a correction, making us confused. Therefore, being calm and waiting for the real bullish season to come would be better. We will be grateful if it happens sooner than we thought, but if it happens later than we thought we will remain calm |
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I think now is a matter buying and holding, having all it takes to accumulate more including Bitcoin and any other cryptocurrency. There is always a saying, "After the rain comes shine", the market has experienced too many DIP and we don't espect to continue soaring in it for too long, we believe in shorter time the market will experience a new face, were everyone will see profits from their holdings.
I am also invested in altcoins including bitcoin. I expect bitcoin price to go up a lot more in the middle of this year. If the price of bitcoin goes up, those who have bitcoins will benefit a lot. If the price of bitcoin goes up, all the altcoins will start to go up. .If you want, you can invest again, but I don't know how safe it is to invest now. As long as we carry out good diversification and good management, I don't think there is anything to worry about. by investing in bitcoin and potential altcoins, I think I just have to wait for the bullish time to come. Of course, we can only predict the estimated time, but no one knows the truth. On the other hand, don't invest your main capital in new memecoins or altcoins, we must still be able to maintain the security of our funds |
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2024/25 will be my first bull run and I have been patiently buying and holding for over a year now.
Just wondering for those who were in the last bull run what it was like and how fast prices pump during the peak bull times?
Any advice on how to prepare when it comes to being ready to take profit?
This bull run is very difficult to predict because the cycle this time is different from the previous one, many large companies entered, for example Blackrock and others. I think if we enter at the right time, maybe in the next bull run our assets will be 5-10x giving us profits. This is just my prediction. personal in fact, no one knows when the next bullrun will occur, therefore our job is to prepare ourselves to face the next bullrun, namely by investing in potential coins, and always implementing good money management, and of course preparing psychology, because it can come early or late From what we predicted, it looks like an easy thing but difficult to implement |
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If I can then I will be in both but until now i dont want to take risks so I take the long term as the only choice i make at this time by being in bitcoin as a long-term investment only.
Not that i don't want to be in a project trend because indeed it is also very profitable in the end but on the other hand I am aware of my capacity because i am definitely not able to do that even though it is only about momentum but I don't want to try my luck in this case so I prefer to be in the long term for now although it does not rule out the possibility that in the end there will be a new thing maybe for me to try seasonal trends like many people do.
When it comes to your own portfolio then it would really be just that ideal and something preferred that you do have a long term hold bag which is mostly composed by Bitcoin and some top ALTCOINs in the market and there would really be those coins or projects which are really just that good for short term. Just like me on which i do get involved with meme coins and with those altcoins which are really just that good for short term on which on the time that i do make profits with it then this is where i do make those kind of transfers of profits into those long term bag holds on which i do really always consider on making out such step since we do know that we could be having To implement such a strategy is not easy, being self-disciplined and having the courage to take steps to divert it into long-term pockets is not easy, sometimes we are haunted by feelings of greed so that when the price experiences a pump we hope the price will continue to rise even though there will be an anti-climax that we need to know about. , this is where our ego will be tested |
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Even with all those step, even when everything is checked, I always assume new altcoin is a scam until proven otherwise. When I choose to invest in an Altcoin especially the new one, I always put in my mind that I am ready to lose the money I have invested, I only invest what I can afford to lose. It doesn't mean that I didn't do research, I still do research but if my research was wrong and my money is lost, my financial condition wouldn't be affected too much, I will still be able to continue my life.
Indeed, using frozen money to invest in new altcoins is important, remembering that sometimes we have carried out in-depth investigations but in the end it doesn't match the analysis, and projects that look good, but don't turn out to be in accordance with the analysis, therefore prepare yourself and don't expect anything more. on new altcoins will help our psychology in investing |
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I don't believe in meme coin and therefore not holding any. If an opportunity comes where I could invest in the initial stage of a meme coin before it's listing then I might invest. Such opportunities rarely come as before hand these new coins are already sold. There is also the chance of the new coin being a scam as it is quite frequent with meme coin. Doing research before planning to invest is a mandatory check but doing that check takes time and in the meantime you lose that opportunity.
Meme coins sometimes provide satisfactory profits, but this is not feasible to make it the main investment, considering the very large risks, once we know the characteristics of meme coins, we will understand that we must be able to manage them to provide additional profits. because after all, for me, capital security is the most important thing to maintain, so memecoin is just a means of speculating |
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It is true what @Oshosondy said: it is not difficult to study or learn trading; the only difficult thing is to apply what we learn in trading while we study it. Because in the implementation of what we learned, we argue about whether we really understood what we studied and learned here.
The performance of technical and fundamental analysis is where there is a conflict in understanding. If the technical and fundamentals are wrong, for sure, the traders will not be able to make a profit. But if it's right, we can make a profit here, for sure.
one indication of a beginner trader who talks a lot, and feels proud that he is a trader, so that only a few trades can get big profits, and imagines fun things in the future, but they forget that trading is not just once or twice, but how the way we can survive until later, and usually pro traders will be more silent, because they don't want their concentration to be disturbed when chatting with the market |
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A successful doesn't just have a good market judgment but also has a good healthy practice. And over-trading is not a practice by them, it is just for those who are chasing their losses thinking that it could help to recover but not knowing this could also be the reason for incurring more losses.
I have noticed that over trading is the main characteristics of newbie traders and that is because of anxiety, greed, lack of self discipline. These factors will make such a trader to lose his emotion to control his trade. In fact, a new trader barely understand what is happening in the market and only what to chase every candlesticks like his mentor has mentioned candlesticks to him. Successful traders are those who have lost their money over the years and probably learn their mistake that they make and now get better with such experience. I believe a trader who is new and making profit is not yet successful until you have been experienced because at the time the profit is coming, it may be you are on the right trend but if the trend change, that comes the real trade challenge. Patience is important to be a successful trader. For me, people who over trade cannot control their psychology and greed is still in their minds. Therefore, we also have to limit our thoughts so that we don't make mistakes. Usually people have experienced profits several times and continue to want to trade in one day, until the time ends up giving them a loss, because they don't want to lose and let it float, until finally they close with a big loss. |
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There are many strategies in the market which traders use to carry out their activities to achieve their goal at the end, but there is a simple or common strategies many new traders are using to make money from their trading by buy coins in the market when the price is low and hodl for the price to increase higher before they can trade to recover their capital and still make some profits.
Once there is a green light in the market, just know that something positive is preparing to happen in the market that will make both long traders and short traders to start trading their coins to make more money from the market.
Of course, all traders have their own strategy in choosing coins or analyzing the coins they want to trade. All strategies look very simple but when put into practice they are not as easy as they sound. But for me, apart from the strategy you mentioned, the most important thing for a trader is to keep updating news in the media about crypto. Many people are successful using crypto trading strategies like this because most of the ups and downs of crypto only focus on exploiting the events you read about in the media. This trading strategy is what I use now. Because current events in the news can usually influence crypto prices, because this influence is not just speculation but also if you look at past history, many experienced traders who are successful traders also take advantage of this. Indeed, news can be used as a basis for analysis, and usually also has an impact on market movements. However, it will be difficult to apply as a short-term trader, considering that we don't know whether it will have an immediate effect, so I always use technical analysis by creating a framework and being disciplined in the analysis, even doing cut losses seems to be a normal thing. |
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I'm just a newbie and I don't have other opportunities to make money irl because of my place of living and age. I tried already bounties and airdrops, but I'm not lucky in it. Thanks for your advices!!!
On my school days, I don't have any money left to invest in Cryptocurrencies and I started with zero Investment, it's a long way but as long as we are diligent and patient we can earn to invest in some good cryptocurrencies and I learned trading from the money I earn for a long time. I started with Faucet for a few months and after that I started with Airdrops and after Airdrop I found this Forum and started looking for Bounties. Right now most of my time I'm just doing Trading cause I already know how to trade although I'm not pro at it but what I earn from trading is much bigger rather than Airdrops, Bounties, and faucets combined. a good journey, where indeed I myself also felt that at first I didn't expect that I could get to this point, considering that at first I didn't have the capital to invest, but in the end I did all that to get capital, I experienced many scam projects so that they weren't paid or paid. but it's not feasible, but if we are lucky and can manage it, it can be used as trading capital and while we are looking for capital we can learn to trade |
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Indiscipline; actually trading needs a discipline mind to succeed, a lot are gambling in the market in the name of trading, once you don't discipline yourself and follow rules, definitively trading will discipline you, aside this there are couple other things that contributes to why plenty of people lose money in the market, things such as impatient, greediness and approaching the market without a strategy, many traders don't have trading plans of how they will go into the market, that's entry and exiting strategy.
Knowledge and experience are two complex things that can determine the success of a trader. the most important thing is knowledge, in theory we have to master it, and the second is practice, where it is not as easy as in theory to put a transaction into practice, because there will be many obstacles faced, and of course from that experience we will develop things that can lead us to become pro traders |
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It's funny how YouTubers successfully influenced newbies that trading bitcoin is a get rich quick. Not realizing the fact that trading alone is hard, and it will be much harder when we say what you are going to trade is bitcoin which is certainly a high-risk asset. And the reason why such traders quickly enter the market to trade because of their hunger for profits, even though they are still in the process of learning bitcoin trading.
However, trading is hard and will always be. But once you get used to trade and you already accept the reality that there are inevitable losses in trading, then maybe you will easily understand how to trade Bitcoin successfully.
you said correct about influencers on different social media platform who's promote trading is easy and anyone can rich at overnight then some people start trading without skill when those investors losses their money then they blamed it's scam. i see a lot of big youtube influences promoting fake project because they got paid doesn't matter investors will profit or losses. trading is pretty hard and big risk if someone started without build good skill. Indeed, those who blindly follows those lead coming from some influencers online most of the time lose their money, those people are just after with referrals and the money that they are getting from the people behind the project, even if most of them are scammers influencers cared about the money so in particular it's rarely to find the right person to follow and support its always a need to have better understanding with the help of your own will to deepened your knowledge about how trading works and how will you compensated. It is indeed difficult to trade correctly, of course this can teach us that it is not easy to make money from trading, so we should not be tempted by influencers who give lots of sweet words. In my opinion, it is best to learn gradually until you can finally become a professional trader. Of course, this is not easy to overcome, but if we can master it, we will be able to enjoy trading |
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Yes, you are absolutely right, because the more leverage you give, the more chances of getting credit in your loan, the less leverage you have, the safe your money will be. The money will Safe from being liquidate,
So I will also prefer that the person who has most of the leverage should keep it low, then whatever we have, we will continue our trading with safety and our profit will be confirm instead of loss from liquidation
There is nothing wrong with leveraging but sometimes some persons do misuse the ability for them to leverage. Leverage is a way for us to increase the amount of funds we are using to enter the market. Once we understand the brain behind leveraging, we are not going to have problem on the right way to leverage. Many have leverage ld and have made money from the market while others had ended up in loses. We can increase when we have sufficient amount available. If the budget we have is low, How can we protect ourselves from liquidation? That trading should be done by those who have a sufficient amount of budget they can reduce or increase the leverage and can bear this loss from time to time to invest in it in order to save themselves from being liquidated and to save their entire budget from being liquiditation. The higher the leverage used, the riskier our trading will be, especially if we cannot control our psychology and end up trading using lots that do not match our calculations. especially if we experience a previous loss, then increase the lot with the aim of recovering quickly, this kind of thing can damage our trading mentality resulting in a psychological attack, which ultimately harms ourselves |
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