Trading not a get rich quick

[so98nn]

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.

[Oneandpure]

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.

[Mauser]

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.

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.

[Zilon]

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.

[DevilSlayer]

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.

[xSkylarx]

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

[ningrum]

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.

[cydrix]

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.

[Mpamaegbu]

Coins like bitcoin may be promising, but what if you invested at $50000, bitcoin price now at $30000.

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.

[NotHatinJustTrollin]

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.

The former chief financial officer of a special purpose acquisition company (SPAC) was sentenced to three years in prison after embezzling $5 million, which he used to trade cryptocurrencies and “meme stocks.“

Read further about it: Ex-CFO who stole $5M to trade crypto and ‘meme stocks’ gets 3 years in prison

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.

[crwth]

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.

[fullhdpixel]

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

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

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

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

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

[Captain Corporate]

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.

[michellee]

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.

[adaseb]

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.

[Ziskinberg]

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.

[Strongkored]

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

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

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

[Lorence.xD]

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

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

[FUCKBSVFUCK]

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.

[mvdheuvel1983]

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.