Trading not a get rich quick

[bbigtart]

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

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.

[GelatikKembar]

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.

[Bushdark]

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.

[Baoo]

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.

[Twentyonepaylots]

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.

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.

[Vaculin]

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?

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.

[Quidat]

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.

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.

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.

[jeraldskie11]

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.

[jrrsparkles]

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.

[BobK71]

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.

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.

[Oshosondy]

- prison is not enough he should be made to spend some time in the Library reading some recommended books on Bitcoin and cryptocurrency.

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.

Trading is not easy, and it takes time to master because the market is always changing its habits

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.

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.

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.

[jeraldskie11]

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

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.

[Dunamisx]

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.

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.

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.

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.

[arwin100]

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

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.

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.

[Sterbens]

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.

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.

[xSkylarx]

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.

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.

[imamusma]

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.

[CryptoHeadlineNews]

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

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.

[Silberman]

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.

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.

[carlfebz2]

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.

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.