Making trading as your personal career might be hard and risky to think. Aside that it does not give you consistent amount of income, most likely there will be more losses than gains most particularly if you are still a beginner. But if you manage to overcome all the risks and be successful on them, you can be professional and profitable trader in the long run.
However, I still suggest to make trading as only your side hustle. Find a real job that will give you fixed and consistent profits, while continue trading at your free time so you can still make decent amount of additional income.
As said before, trading is uncertain. You cannot completely rely on trading. If you have to manage a family, pay regular bills and do other stuffs, then other than trading you need to have a serious job. You can do trading as a part time and do another job for basic needs. Trading isn’t sure money, as the market is very uncertain and unpredictable. So completely relying on it will be very difficult. If you ask me for my suggestion, then I won’t suggest to go for trading as the primary source of income. Expecting income from trading to be able to take care of a family is not an easy thing to do and this is too risky, because we need money for family needs every day and if we cannot make a profit from the trading we do of course this will be very troublesome for us. on our own and it would be better not to rely entirely on trade. I agree with your suggestion, it would be better to trade when we have free time and have to have a job that can provide a steady income for family needs, because if we only rely on trading as our main income, it is very difficult to see market conditions. |
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There is not a single human who don't want to make more money, it is not in the case of poor or wealthy but all classes of people are in mood to have more money because no human is happy with his actual state. Poor will want to occupy the position of wealthy people and wealthy people are in struggle to settle them even more but eventually everything ends whether it's money or power.
Wealthy people can use the power of their money in order to multiply their wealthy whereas poor people will have little amount so they will always be in fear of losing it if they invest it. Investment is not a bad idea and it should be done but people should accept their occupied position as more greed can be bad for them sometimes and after getting huge sum they will miss their old days in which money was less but satisfaction was more.
Everyone certainly wants the life they live to be better than their previous life and it is impossible if people want their life to be ordinary, of course they will try to be better than before and only people who can do it right can achieve what they do. what they want, because if you just do normal things and don't try as hard as possible, of course the results you will get will be normal, so it's important that in trying we have to do our best to achieve good results too. The rich can easily multiply the wealth they have and they will trade and invest with the capital they have to increase the wealth they already have, while the poor will find it very difficult to try to invest or trade because of the money they have. they only have enough for the needs they need and if they want to do this of course they have to be able to save first so that what they want can be achieved. |
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Saving our hard earned money have never been a bad idea, but their are certain things we need to consider before thinking of saving, such as inflation.
Inflation is truly the real enemy to every money that is being saved up, because when the time is right like a year time, when it should be used for it purpose, the value wouldn't be as how it actually was when you started saving it, but on the other hand, if we have been investing that money into Bitcoin, land or gold bit by bit, over the course of a year, the value of that your investment would have added additional value compared to our savings that will be eaten up by inflation.
So too me we should think of investing more of our money than saving it, so that inflation wouldn't eat it up.
You can't invest if you don't have money and if you need money then you need to save it first which means savings is the first step towards an investment but if someone thinks that keep saving their money in their piggybank or in a real bank where they give invest still the inflation will beat the interest given and you actually lost money from keeping it and doing nothing. Most people may aware that prices of the products always increase but they don't know the actual reason for it happening which is mostly due to inflation and another factor could be high demand or shortage of supply but in the latter case the price change will be rapid and in the former, it will be gradual. When we want to invest, of course we have to have funds that we will not spend before we can achieve our investment target, but if we don't have these funds, it would be better if we first collect some of these funds. the income that we have so that we can invest and not make it difficult for us. When we have decided to invest these funds, if we choose to save the money we have in the bank, of course this will be more profitable for the bank than us saving the funds because these funds will be used for the bank's operational needs. Yes, everyone will of course be aware that the price of every item will always rise for various reasons and we cannot know for sure the cause and the money we save in the bank is currently enough to buy a motorbike so it is not certain that the money we save will remain sufficient. to buy a motorbike in the next few years. |
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Many people think that it's easy to buy low and sell high but when it comes to the real market they find that its extremely hard to get a perfect bottom to take entry. This is impossible to take entry at the bottom we need to make strategy to work things done where we can still make profit even we failed to get a better entry. New traders don't understand or wanted to work on this. They tried to find how others are making profit and wanted to use that for themself which doesn't work most of the time.
That's right, it's true that some people think like that, so you can be sure they don't really understand trading well and how to make a profit from trading. If that's the case, of course there are a lot of people who have just started trading who will become successful from the trading they do, we we cannot know when the price will reach its lowest point if we cannot analyze the market well and even those who have a lot of experience are still learning trading so as not to make mistakes and if we make a mistake in deciding to trade we must be able to correct it so we can repeat it again on the next try. Some people who are new to trading and immediately try to trade without having good knowledge in trading, it would be better for them to postpone their plans first and seek knowledge first about trading and don't just listen to other people about being able to make profits easily in trading. So we will continue to try to get these profits without any knowledge about trading, so this is a mistake made by beginners who will lose their money on their first trade. |
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Therefore, it is important for someone to be able to search first whether trading or investment is more suitable for them. Because if they force themselves to trade, even though they are lazy enough to analyze the market and read the news, then trading is not suitable for them. It is better for them to be able to invest because all they need to do is invest their money, whether with the DCA or lump sump method. They don't need to analyze the market or bother learning trading techniques, because all they need to do is hold for the long term until they reach the goals they have set.
Yes, you are right, everyone who wants to benefit from the two things you mentioned must of course first examine carefully what they like and don't let them regret it when they do one of these two things, therefore not everyone can when they don't often see coins that have the potential to trade, it would be better not to trade, because those who are experienced still make mistakes if they don't follow market developments and if we choose to invest, we also have to look at coins that can actually earn money. the benefits of the investment we make and if we choose to use the DCA method we must be able to do it consistently until the profit target we have set. |
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It is a matter of the temptation of profit, in the form of investment, profit is the end result. Sometimes they will sell to take profits when they feel the pumps are working well enough. So they exit with their money. Sometimes being pragmatic in that way is good for one person and vice versa for another. Personally, even though I wanted to escape when the bull run started, being greedy was more of a problem and got stuck there. lol
When someone decides to invest, of course they want to make a profit from what they have invested and everyone has a profit target and also a way of looking at the market, there are those who take profits after they see price movements in a high direction and there are those who analyze the market and wait for appropriate profits. with what they are targeting. Of course, we must be able to avoid greed in investment if we don't want what we have invested to be able to enjoy when the profits have come, because if we are greedy in the investments we make, of course we will miss out on the profits we have made in the hope that the price will be even higher. In the future, it is very important that we continue to decide things with the understanding we have and in a situation that is not rushed. |
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Most of the newbies who enter crypto trading are excited to make money, even though they don't know anything about the trading business they are entering. That's the problem with most newbies; I don't understand them all.
Instead of knowing and studying what's going on first, they get carried away by just the hype and what others say, and there are still many such styles in this era, to be honest. Then we should also remember that profit always depends on the knowledge that we can learn and study, not that we are always led by hype.
Beginners who are new to crypto trading will certainly be very excited to be able to earn income from the trades they make, for beginners who try trading by knowing about crypto as a quick way to get rich, they are not aware of the risk of losing their money if they enter the market with don't have any knowledge about crypto trading, so it would be good for every beginner who wants to trade crypto to understand well, don't just hear from people who have made profits and don't understand well the risk of losing money if they make the wrong decision in choosing the type of crypto which they will trade. |
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That's some crazy shit mistakes, well atleast you have learnt and took it as a positive energy and I know you wouldn't make such mistake again. For my own experience, I have really gotten such messed mistake maybe that's because I didn't encounter the crypto world quite early but the one I would classify as a mistake would be me selling off my little BTC earnings from the start as of that the price was low and the figure was big , if I had left if till now I know that the earning would be x3 now.
If you have been able to learn from the mistakes you have made then you will be able to invest well later, because the bad experiences we had were our own fault and it is important for us to fix them and when we are going to invest again we have to be careful so that we don't again making the same mistake as before. Selling some of your Bitcoin income because you don't understand crypto well, of course everyone has done this and if you don't have any other income apart from crypto income then it is very difficult to be able to hold on for a long period of time and if we have several sources of income of course we will not sell it and will hold it until the target we have set. |
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I never actually thought about this. Indeed, the salesman skill is one that will always scale and is most times looked down on. Thinking of it, every company has that person or group of people who knows and is employed to sell the company’s product. I’ve seen various commercials and they can make you visualize something small to be big and you suddenly see the important. When you have a good salesman skill, you do not have to worry about what you’re selling because the skill entails being able to sell the said item with whatever pros it has. It’s a good one.
Every company will definitely have people with work duties as promoters or salespeople, and of course, with people like this, the company gets purchases and provides a lot of profits for the company. Without people like this, the company will never make money, even though their work is underestimated, but basically, the key to a company's success lies in the promoters or marketing that the company has. The field of promoters or salespeople in each company will work according to the skills they have to offer goods owned by the company to potential buyers and they will try to convince buyers to buy the products they offer, when the goods they offer can sell well of course. The company will benefit from the skills of these workers. That's right, without promoters or salespeople who have skills in offering the goods their company has, of course they won't be able to sell the products they have even though the position they occupy is often underestimated by other people. |
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As we enter the 2024, many people are making plans on how to achieve financial success and personally I have decided that trading will be one of my areas of focus. I'm gathering information on how to go about it. Your opinion will be highly appreciated.
Making a plan is not such a big deal everyone can do it at any time and a lot of people decided on 31 Dec but the point which a highlight successful person from the rest is consistently working on it. Trading is one of the best financial plans and I set trading as a goal, not like a beginner but to learn deep as much as possible and raise like a professional one. My friends also decided this and we together started working on it every day. So I suggest you start trading with dedication and do not allow anything to distract you from your plan and goal. This trading will help you in your financial condition and will make it perfect. Yes, that's right, when someone can carry out the plan they have made consistently, of course they will be able to get maximum results from what they have done. When trading, of course you have to have a plan for when is the right time to trade and do it consistently so you can achieve the profit targets we have set. When we have decided to trade, of course we have to do it carefully so as not to make a mistake in deciding the right time to enter the market to trade and we have to focus on the trade we are making and not make mistakes that result in losing the money we use in trading. |
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There’s no guarantees that the more you trade, the more you will be in profits. Of course, trading should be made at the right timing, that is when the market is suitable to trade and when you are also in the best time to trade. Because there are actually traders who are only forced to trade because they are in need of profits, regardless of their current status quo. With that state, I don’t think trading will be more profitable thinking that you’re not at your best and you don’t have all out focus, and your patience is also compromised.
That's right, there is no guarantee that by trading a lot we will be able to make a profit from the trades we make. When trading, of course we have to set a strategy for when is the right time to trade and what type of coins we will trade to be able to make a profit from those trades. If there are traders who are forced to trade and they succeed in making a profit, of course they really understand about trading and will be able to make a profit from the trade they make and if they trade in an open state in their best condition then it will be very difficult to be able to focus on the trade. they do and it would be better for them to perform in their best condition to be able to make a profit from the trades they make. |
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I've been studying trading for a long time but I don't focus on trading, especially analyzing charts or anything like that, I'm also not an active trader, I only trade when I find interesting information, like a small example, the Bitcoin halving, there are lots of sources. sources I find especially on Twitter if I think it has potential I will buy it and keep it
Trading is not something we have to jump on immediately. It is good when we give ourselves the time to wait and be patient so we don't become a problem for ourselves later when things becomes hard. We can learn how to trade for as long as 6 months to fully understand the system also working with a pro trader that had been in the market for a very long time. Those people that had decided to learn trading for just few weeks or months would always complain on why they are not making profits. Studying first until you really understand trading well will certainly be better than continuing to dive into trading that we don't understand well and will lose the money we have when trading. Learning from those who already have experience in trading will certainly be very helpful. It's good to be able to understand trading well and we also have to continue to develop our own knowledge about trading so that we can get results from the trading we do and we have to be patient with the process we have to go through from the start of learning until we can get profits from trading. |
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I personally support the idea of long-term investment in bitcoins, but I've always been curious about how people, by foregoing many comforts, including personal pleasures, manage their finances in their daily lives. These individuals are very resourceful and determined. I've also encountered many people who deny the success of Bitcoin, these are usually individuals who don't understand anything about cryptocurrency and have no interest in it whatsoever.
When someone makes an investment and ignores the comfort of the investment they are making, I think this will put us in trouble when we are investing and it is possible that we will make the wrong decision and it could even be detrimental to ourselves and it would be better to decide to invest We still have to be comfortable with the investments we make and not force ourselves to invest because it will be very difficult to make a profit if we force ourselves to invest. That's right, for those who deny the success of Bitcoin, of course they don't understand Bitcoin well and they don't study it, in fact they only hear from other people about Bitcoin who also don't study Bitcoin. |
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The worst part is that no matter how many articles are published or how much awareness drive is created newbies will fall for scams. The next level of people would be those who are aware of such scams and yet they will take a risk and invest in scam projects because they want to get rich quickly. This is a never-ending journey and to date, people fall for phishing emails and fake airdrops. A new wave of scams has already started after AIs have been launched and these scams are not easy to identify and have far bad consequences.
Yes there are some people who want to get rich quick they invest in all these places. They face many problems. Before investing you must know and invest well. But most of all, newbies get into this problem and invest in all this without realizing it. And those who understand want to get rich in a short time. But it is the opposite of becoming rich and falling into loss.They have to lose everything because of their greed. When someone understands that investing in every place will make them rich, of course they will make the wrong choice in choosing the type of investment that suits their abilities and it would be better for them to understand well about the investments they make so that they can benefit from the investments they make and Also, don't let them choose a type of investment that they don't understand well so that they lose their money in that investment. For those who are just starting to invest, of course they will find problems if they don't understand the type of investment they are making and it is important for them to learn about this if they want profits in that investment. If a beginner only understands investing, they will quickly have a lot of money, of course. This is a wrong thing in understanding investment, of course it requires a process that they have to go through to be able to get a profit from the investment they make. |
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Regret is never something bad and it is all about understand why we are regretting for the decision we made that might not worth it. Once we understand different ways we can make money from investment, we would always look for opportunity to balance everything. I had regretted about selling my Bitcoin as a price that does not worth when I should have made a fortune from Bitcoin investment. That teaches me to be always patient whenever's I am planning or have the intention to sell my holding. We might not know what could happen in the future that is what we needed to be calm and make decisions that would not make us ever regretting.
If we regret what we have done, of course this is a good thing for us to learn from so that we don't make inappropriate decisions in the future and we have to correct this so that we don't make the same mistakes in the future and will do more. Well, when we decide to sell, of course it has to be in a situation that is profitable, unless we really need it and don't have other solutions that can delay us from selling it. It's true that we don't know what we will experience in the future and we have to decide what we will do under conditions that can truly benefit us. |
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Sometimes, being knowledgeable is not enough. I see some traders are losing not actually because they don’t know what they’re doing, yes they are knowledgeable but they lack the motivation and the patience to endure their initial losses in trading. The fact that trading has certainly its own inevitable losses, then traders should already be aware on that, but majority of the traders end up being upset every time they lose that some traders decide to quit from trading without even experiencing the fruit of their trading hardworks.
For those who have just started trading, of course they will experience losses from the trades they make and if they cannot be patient in the initial trading process they make, of course they will find it very difficult to get results from the trades they make, because they do not have the desire to learn from failure. the initial trading they did and they stopped with the failure they got. Of course there will be losses that we will incur and they must be able to correct these losses by taking profits from other trades they make and they must continue to learn even though they have made profits from the trades they make. |
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Financial education is the process of understanding and developing knowledge and skills related to personal financial management.
It supports personal financial stability, helps avoid excessive debt and provides financial independence.
It is important because it helps individuals make smart financial decisions, manage debt and plan economically for the future, reduce financial risk and create long-term financial stability.
Having financial education is very important for everyone, because if they don't have financial education then it is very difficult for them to be able to manage their finances when they earn income later, everyone who can manage their finances well of course they will not have problems in terms of finances and they will be able to have savings and also other valuable assets. When someone does not have financial education, of course it will be very difficult for them to manage their finances well so they will always fail in managing the income they earn, so it is very important for them to have financial education so they can manage the income they have well. |
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Of course, why would someone listen to those influencers on social media? doesn't make sense specially in terms of financial and other matters that pertains to our money. So still need to develop our own strategy, our own habits on how to be successful and not be a failure this year.
Each and everyone of us are built different, throughout my life's experiences, I have seen people who manifested money very quick and then there are individuals who will have to grind it out year in year out to make money. So just strategized what works for you and not copy others as everyone is not the same as far as financial and money goes.
What you say is very true, it is not a good choice to listen to influencers on social media when it comes to finances, we must be able to manage our own finances and never use money for things we don't really need if we want to have financial problems. In achieving financial freedom there are different ways to be financially successful, as you said there are those who have to work hard to achieve financial success and there are even some people who work casually but have different results from people who work hard, indeed It would be better for us to have a way of managing our finances that is truly appropriate to what we need and not spend the income we have on things we don't need. |
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For me, just don't overspend your money and always budget your money is the main things to do first.
Don't live like a king if your salary is just like a salary of a slave. Don't poke on someone else's life, instead mind your own. Focus on the things that will help you to improve even more. Don't get too comfy on your comfort zone, nothing's new is going to happen if you're not going to try something new. Success is always about risk, either you do it or don't, you'll regret both but trying is always the best thing to do rather than living your whole life in what ifs.
Managing expenses is a very important thing for everyone to do, because no matter how much income they earn, if they don't manage their expenses well, of course they won't have savings and what's worse, they will have to go into debt to be able to meet their needs. Yes, we have to be able to adjust the life we have according to the income we have and we don't need to worry about other people's lives and have to focus on our own development. To be able to achieve success, of course we have to be able to struggle and have to be patient with the process we go through to achieve success. If we can't go through every existing process, of course we won't be able to achieve that success. |
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i think it depends on the country, because in my own country, the government here gives relief to young people to be able to buy a house with installments of up to 20 years with the expectation that more young people will be able to get access to decent housing and there will be more areas that will develop after being inhabited.
however, the problem is that the houses that are usually offered are in suburban areas and not all young people want to live there, especially if they work in the city center and have to drive for hours to their house just to sleep.
so this is a dilemma for many young people here, and i think also globally, because they are faced with buying their own house in the suburbs or renting in the city center close to their office.
There are many things that must be prepared to be able to buy a house on credit and I think paying off a house in installments for 20 years is not an option that can be taken if you cannot have a fixed income, even if we have a fixed income it would be better to save the income we have and invest to be able to get the dream house we want. Yes, not everyone chooses a house that is far from where they work, because it will be very tiring for them if they have to go to work for a long time. Of course it is very tiring if they choose a house that is far from their place of work. I think it's better for us to stay rent a house close to where we work and save the income we have and also invest part of the income we have. |
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