Trading not a get rich quick

[Awraawra]

Yes many people are thinking that trading are good and they can get rich instant. They don't know that trading are risky too that they can lose or win like gamble. Trading or investing bitcoin is not so easy because some people lose because they buy Bitcoin in high price. So they need to hold it and wait for bitcoin price goes up so that they can get profit.

[Botnake]

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

This is to remind us that greed will never make you successful in life, instead it will only lead to a worst situation that will make you live your life miserably. Also, committing crime will never give you an advantage but will always lead you into another crime, so be ready to pay whatever consequences that crime has resulted.

Investing and trading have high potentials to create big changes in our lives, but know that the process is always hard and may even take years before the desired goal is achieved.

[Jocuserious]

Of course trading and investment both not like for rich quickly even you will gonna poor if you have less experience. Every processing is to much hard of crypto market. On time if you taken unless decision then you will face financial problem. I will prepare take to more skills about crypto market then you can expect gainer.

[LUCKMCFLY]

even experts advise using cold money in trading. if the money is your own money but it is needed for medical expenses, the cost of your daily life will be better if you don't use that money to trade. Usually it will be bad if you use it because it will provoke emotions when you take it to trade. just use the money for the necessities of life and save some of the money for trading.

We must be aware that trading isn't an instant way to earn money. Not every time we can take profits with trading, there are times for losses as well. If we use loan money or money for daily needs, it will bring a bad impact on our financial stability. We never think to use them, just use the money that we can afford to lose. That's what the most popular sayings we always hear.

Sure, trading with emotion will end up with losing everything. If we still can't control our emotions, we don't start trading crypto. Having good emotion control is a must in crypto trading or investment.

Regarding the money that is destined for many needs, it is important that you never take risks, that is what happens not only to traders, but also to casino players, compulsive gamblers who always look for a way to win by risking capital. that they should not take risks, and sometimes they do well and win, but when they lose, the problem Increases and causes many deficiencies and that is what should be avoided, especially when there are responsibilities, which is something that should not be justified for Nothing, especially for those who are the head of the family.

[ancafe]

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.

Unfortunately I don't see the whole story about bitcoin being traded but rather crypto and memes, from past experience memes are trash coins with no future potential. That's why this story is far less tragic than most stories involving trading using bitcoins. The biggest mistake of this story cannot be separated from knowledge in the crypto space, so the decision to choose memes and other cryptos is not based on knowledge in analyzing the potential of the chosen coin.

It has never been advised to trade using money that is not ours and sometimes we have to pay attention to volatility every time we try to use other people's money to trade, even if you try to use bitcoin using other people's money.

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.

Wealth will always be proportional to the ability of the capital you have, wealth also needs a process to be achieved and trading is not always able to guarantee profits every time because talking about volatility. It is important to understand that meme coins are trash and have no future, so anyone who wants to trade should try to avoid them.

[Jatiluhung]

Many people who always have the thought that things with trading will improve and that from one day to the next or in a matter of weeks they will be rich is the worst lie they can also get, also a person who does not have a high financial education can lose much faster, there are occasions where the novices simply make a tag as if it were a bet and yes, they win, but they win by luck, this is something that should not be, because that luck can end at any time and it can stay with nothing, I have seen sad Cases where that happens to many.

Correct. Even though to be proficient in trading requires a long learning process. either theoretically or practically. And even if a person is theoretically proficient (knows various analyzes such as fundamental, technical and sentimental) but if it turns out that he does not have enough experience in real trading. So that person still has the potential to lose if he doesn't know about emotional management in trading (trading psychology). And to master emotions in trading or in the sense of strengthening the mentality in trading, it takes time to get it. because emotional management and the formation of mentality will usually get better with more experience in trading practices.

because of course we always need adaptation to the crypto market or whatever market we enter to trade. Experience and analysis can make us know where the market trend is going and vice versa when the market trend will stop and the like. In essence, there is a lot to learn to become a reliable trader. and another fact is that even if someone has become a reliable trader, that does not mean that someone will no longer experience losses. because basically in trading profits and losses are commonplace and can happen to anyone. it's just that people who are already reliable can have a ratio of more profits and fewer losses.

[erixter]

Regarding the money that is destined for many needs, it is important that you never take risks, that is what happens not only to traders, but also to casino players, compulsive gamblers who always look for a way to win by risking capital. that they should not take risks, and sometimes they do well and win, but when they lose, the problem Increases and causes many deficiencies and that is what should be avoided, especially when there are responsibilities, which is something that should not be justified for Nothing, especially for those who are the head of the family.

I do agree that trading is not a get-rich-quick scheme. But, it requires time, effort, knowledge, and experience to become a consistently successful trader. While it is possible to make profits in trading, it's important to approach it with realistic expectations and understand the risks involved.
Trading requires a solid understanding of market dynamics. Managing risk and having a disciplined approach is crucial to navigate market volatility. Trading is about assessing probabilities, not predicting outcomes with certainty. Realistic expectations and continuous learning build your confidence level and capability to take risk and make yourself a good trader/investor.

[CryptocurencyKing]

I do agree that trading is not a get-rich-quick scheme. But, it requires time, effort, knowledge, and experience to become a consistently successful trader. While it is possible to make profits in trading, it's important to approach it with realistic expectations and understand the risks involved.

That's the idea, people tend to approach trading or cryptocurrency as a whole with the idea of coming and making double there capital in a day! They completely undermine the risk they have to go under take to attain such unrealistic opportunity to making double your capital.
It's possible, it's doable but the risk could ruin you before you even get to start.
Trying to double your income in a day or even make 10% of it daily would require you taking more risk than you could handle and that is something you shouldn't do. It leaves you exposed and you might be met with conditions that you would have escaped.

[Patrol69]

The goal of most new traders is to use capital and earn more profit in a very short time. Based on these thoughts, they manage the amount of money they have and by taking loans or with the help of family, they make trading decisions.  Basically, the main reason behind their decision-making is that many people only tell them the positive aspects of trading, as a result of which they only hear the positive aspects of trading and become very attracted to trading, and a thought works in their head that I might be trading with too much money then I can earn more profit. But when they deposit money in an exchange and trade any coin and as a result of trading at the wrong time, it can be seen that a lot of money has been lost from their total capital, at that time they get very confused and in order to save their money, they leave their coin at that time thus they put their money at serious risk by trading in the wrong way at the wrong time

[Awaklara]

The goal of most new traders is to use capital and earn more profit in a very short time. Based on these thoughts, they manage the amount of money they have and by taking loans or with the help of family, they make trading decisions.  Basically, the main reason behind their decision-making is that many people only tell them the positive aspects of trading, as a result of which they only hear the positive aspects of trading and become very attracted to trading, and a thought works in their head that I might be trading with too much money then I can earn more profit. But when they deposit money in an exchange and trade any coin and as a result of trading at the wrong time, it can be seen that a lot of money has been lost from their total capital, at that time they get very confused and in order to save their money, they leave their coin at that time thus they put their money at serious risk by trading in the wrong way at the wrong time

it was indeed a wrong step, but in that way, I think there will be more experience to be gained from the mistake. Either way, those who go wrong with their trade will leave the market at some point in time they will also come back to trade again. but it is possible that more of them will leave the market with a bad view of Crypto.
almost all newbies to trading also have trouble getting started. but it all depends on how we face the problem and try to correct our mistakes by doing better now. We must realize that everyone's trading ability is different. and also everyone's ability to learn to trade is different.

[Alisha-k]

With all due respect to him, he's a criminal and a greedy man, it's not strange to me that he skipped the basics and went ahead to do more than he could handle..

He'd probably be thinking everyone was as greedy as him and would only be interested in the looted money.

[jaberwock]

it was indeed a wrong step, but in that way, I think there will be more experience to be gained from the mistake. Either way, those who go wrong with their trade will leave the market at some point in time they will also come back to trade again. but it is possible that more of them will leave the market with a bad view of Crypto.
almost all newbies to trading also have trouble getting started. but it all depends on how we face the problem and try to correct our mistakes by doing better now. We must realize that everyone's trading ability is different. and also everyone's ability to learn to trade is different.

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

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

[Obari]

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

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

[stomachgrowls]

it was indeed a wrong step, but in that way, I think there will be more experience to be gained from the mistake. Either way, those who go wrong with their trade will leave the market at some point in time they will also come back to trade again. but it is possible that more of them will leave the market with a bad view of Crypto.
almost all newbies to trading also have trouble getting started. but it all depends on how we face the problem and try to correct our mistakes by doing better now. We must realize that everyone's trading ability is different. and also everyone's ability to learn to trade is different.

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

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

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

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

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

[JoyMarsha]

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

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

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

Reminder: do not keep your money in online accounts

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

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

[Dr.Bitcoin_Strange]

Of course trading and investment both not like for rich quickly even you will gonna poor if you have less experience. Every processing is to much hard of crypto market. On time if you taken unless decision then you will face financial problem. I will prepare take to more skills about crypto market then you can expect gainer.

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

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

[Patrol69]

Many people who always have the thought that things with trading will improve and that from one day to the next or in a matter of weeks they will be rich is the worst lie they can also get, also a person who does not have a high financial education can lose much faster, there are occasions where the novices simply make a tag as if it were a bet and yes, they win, but they win by luck, this is something that should not be, because that luck can end at any time and it can stay with nothing, I have seen sad Cases where that happens to many.

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

[fauzan Ichsan]

Many people who always have the thought that things with trading will improve and that from one day to the next or in a matter of weeks they will be rich is the worst lie they can also get, also a person who does not have a high financial education can lose much faster, there are occasions where the novices simply make a tag as if it were a bet and yes, they win, but they win by luck, this is something that should not be, because that luck can end at any time and it can stay with nothing, I have seen sad Cases where that happens to many.

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

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

[IvugeoEvolutionCoin]

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

I don't blame beginners having the mindset that trading can make them to become rich, most of the experience trader don't tell beginners what they are suppose to know.  Experience traders only talk about things concerning trading that will attract beginners to their content that will be benefit to them. Most beginners later learn from their own experience by realising trading does not make one to become rich quick. I had the mindset of becoming rich in trading as a beginner but my experience thought me the reality of trading.

More like an experienced scammer to me since a lot of people out there promoting something that will benefit themself rather than guiding new people for trading. Everyone looking for new opportunities in this crypto market that's why not wondering many people thinking about becoming rich in trading crypto but we should able to control our greed since our greediness will turn our profit become losses in a short time.

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

[KiaKia]

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

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

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