I don't know if am right or wrong about this.

[blockman]

-snip-
Let him learn his trades and experiences until he's the one to open up to you that he's going to continue or he's already given up. Don't make yourself accountable for that as you've just shared and never encouraged and convinced him to trade. Whatever the result will be, it's his fault.

Learning trading with his own experience will be better, it will make him more independent and know what to do.
Be sure to warn about the risks of trading that will occur so that no one is blamed when getting losses.

True.
That's why we don't dictate what one must do with their finances and how they're going to trade. We all have our own instincts and what we think is going to be the best for us.
It's not going to be easy for the beginners but it's best for them to explore and discover the ins and outs of trading and let them assess if they'll stay or not based on the experienced that they've gained.

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[Bitcoin_people]

On your part you have given your sufficient amount of knowledge maybe your friend could not gain good experience from there. You asked him to adopt common knowledge about crypto but he might be interested in investing without understanding for extra profit. However, if you want to trade futures, you must keep some money in reserve so that when the market goes down, liquidation can be added. I think futures trading is not good at all for newbies but it is most risky so spot will be good for them. You must make your friend understand well in this situation that one should never invest without skill. If you invest without skill there is a possibility of losing money by falling under the scams so this matter should be fully observed. Of course newbies have to follow the market and analyze and then join the investment only then there will be no loss.

[irhact]

In addition, you should also be prepared for the fact that the cryptocurrency market may change and you may lose your money. It is important to remember that investing always involves risk and no one can guarantee success

You're very correct with your reply, cryptocurency investment or trading is very risky so anybody that you're introducing to the market has to know every possible thing that could go wrong due to the volatility in the market so Incase it happens you'll not be held responsible for the person losses. Tell them how quickly the market can dump and not only how they can profit when the market rises.

It's best to be very transparent so the individual that you're introducing into the market can be very aware and prepared for any movement the market makes. Don't lie about the market as you might be the reason they invest everything into the market and loses it all.

[Bushdark]

We shouldn't always be very careful the way we refer people to some certain things that can be very risky. We need to disassociate ourselves from telling people who are very about investing in the Crypto market to try and learn the skill before diving into investing and trading in the market. If you tell someone about trading and you did not inform them about the risk that is involved as an investor or trader, they will always accuse you of making them lose there funds because you are not careful enough to let them know about how the market works and those various risks that can be attached.

It is even better we abstain ourselves from telling people about how to trade than letting them have a minute knowledge that will make then enter the market and lose there funds.

[Inwestour]

On your part you have given your sufficient amount of knowledge maybe your friend could not gain good experience from there. You asked him to adopt common knowledge about crypto but he might be interested in investing without understanding for extra profit. However, if you want to trade futures, you must keep some money in reserve so that when the market goes down, liquidation can be added. I think futures trading is not good at all for newbies but it is most risky so spot will be good for them. You must make your friend understand well in this situation that one should never invest without skill. If you invest without skill there is a possibility of losing money by falling under the scams so this matter should be fully observed. Of course newbies have to follow the market and analyze and then join the investment only then there will be no loss.

A beginner should always start with spot trading and with a small amount of money, because in the early stages, losing money is inevitable and even if it is a small amount, it will not be a significant loss, but it will be sufficient to draw conclusions, from the mistakes made.

Let at first there be an understanding that this is a test amount and a test period, when you can try how trading is a suitable business for making money. No matter how one person tries to explain to another his principles of trading, everyone will act in his own way, it seems to me that it is impossible to teach a person trading so that he can eventually repeat all your actions, each trader will see the situation in his own way and, accordingly, buying, selling and results everyone will be different.

[AnonBitCoiner]

If you have teach him about the risk involved then don't worry it's now up to him and up to his luck that how he manipulate the things. I think that everyone should be aware of the risk involved after get enter into this business.

I think no one should blame one another as everyone has their own mind and thoughts so no one is such a fool to invest money blindly without investigation. If a person ask you about something then tell him the truth but never force him to do so because everyone has the ability to go through the details and then invest nothing is impossible if a person tries to do it accurately.

You are not wrong you have just tell him what he wants to know and now its his decision that what he wants to do.

[Ultegra134]

I don't know why you are even uncomfortable, or you don't want to tell anyone about trading before? You supposed to be bold and sound to tell anyone who wants to hear and learn because trading is not a personal business and it is a general business which means anyone who is interested can go into it without fear and treble.
You are not investing  for him but you are only telling how to invest so if he is interested to let do that after the class. By you saying you are uncomfortable, you were not willing to teach him. You have to be in the comfortable zone to teach the step so that the awareness will go far and it will not stagnated in one place. If you are facing the risk and conquer it then any other interested person can also do that.

The issue is actually a little broader. From my understanding, the OP is a little uncomfortable discussing cryptocurrencies and his income through trading, which is understandable because I also prefer not to mention this matter so much. This generally depends on the person, but cryptocurrencies are usually presumed to be something exotic that only a few know about, and such conversations are often goofy and pretty much pointless because explaining the whole concept of cryptocurrencies and making money off them can't be that simple.

More often, the discussion is always steered towards how they can make money through them, expecting a direct answer like it's a simple step-by-step process, which is something I hate, because usually they're being pushy and keep asking you, but we all know that it's not that simple.

[justdimin]

If you have teach him about the risk involved then don't worry it's now up to him and up to his luck that how he manipulate the things. I think that everyone should be aware of the risk involved after get enter into this business.

I think no one should blame one another as everyone has their own mind and thoughts so no one is such a fool to invest money blindly without investigation. If a person ask you about something then tell him the truth but never force him to do so because everyone has the ability to go through the details and then invest nothing is impossible if a person tries to do it accurately.

You are not wrong you have just tell him what he wants to know and now its his decision that what he wants to do.

You said each has their own business? That's true and that is why there are people who invest blindly because they are not wise or knowledgeable than the other but it does not mean that they can not lose anymore. Losing is still there but it can only occur rarely to them.

If someone approach us, we don't need to force them anymore but this is better than the other way around because they will shoulder the consequences and will only blame their own self if the plan didn't go well. When a newbie enters, the most common thing they want to know is if it's profitable. Just don't lie and say yes but also tell them the catch. It's okay if they get discouraged. It does not totally affect the adoption anyway as it's only a tiny part.

[Rupok]

You mentioned only Binance's trading method. Apart from Binance, there are many trading sectors in cryptocurrency.  All exchanges and wallets related to cryptocurrency trading should be aware of how they work and all the risks associated with investing.Many new investors have lost money in cryptocurrencies.  Just as trading requires money, it also requires knowledge.Cryptocurrencies Many people don't want to believe, even though your friend is interested in cryptocurrencies, but when you see that your friend has lost all his money in cryptocurrencies, he will get angry with you.Although you can share everything related to cryptocurrency with your friend, do what works best for both of you.

[Peanutswar]

Trading of bitcoin has been one of my source of income for quite some time now but find it difficult to tell some other persons to engage in trading because of the risk involved.

Last week a friend of mine saw me trading so he tried to know more about it, at first I never wanted to tell him due to the risk involved, but then based of his persistence I first of all explained to him the difference between spot trade and futures, but I told him I do only spot, how  I buy low and sell high, even as I was explaining it to him I was feeling uncomfortable because of the risk.

 I don't want a situation whereby someone will say that I scammed him if there is a sudden dip in the crypto industry, so I just told him to open a binance account and verify it, after then, he should get back to me so I can send him the hard copy of the crypto course I bought.
Uptil now I still feel uncomfortable about it, I don't know if am wrong or right for opening up, even though I told him of the risk involved.

People will approach us as always when they see that we are doing trading they serve more curiosity on them it is really way to earn money here?, it is not a scam?, people think trading is just place your money and let your money makes more money to you while you are sleeping but they keep ignoring the possible risk on this because they focus on the earning. Better to let him know more about trading because in that thing you can get a trading buddy and you can both exchange an idea with your trading journey. Let him know the basics until he knows the other way to know and to earn. Just observe yet if they still curious once they lose their money.

[Faisal2202]

Dear OP, I think you did nothing wrong as he was persistent and he is the one to ask you to teach him about crypto, and who knows how good he will become in trading. Maybe he will cross you, as it all depends on the mentality of one. As many people just want to make money when they see making someone and they only focus on the good side while they ignore the downs of it.

You should have told him the same feelings that you have shared in your post and told him that crypto trading is full of risk and also you must have shown him the losses you have made. Because if he has seen only profits then he is totally in for gains and ignoring losses. Well, the good side is, you will have a crypto buddy with whom you can share your crypto trading theories.

[LUCKMCFLY]

Since your friend asked you about Bitcoin trading, you should tell him in detail about it. Even if there are risks, you should discuss with him in detail about trading and the risks of trading. Knowing that there is risk in trading but you are trading and with risk you have earned some profit as you have taken the risk so considering the positives and negatives of trading your friend can also take this risk. If he expresses interest in this matter, then you will tell him that if his finances are damaged for any reason, then he is never responsible. You have to take full responsibility.

Probably the most important thing to do when you are introducing trading to one of your friends or someone that you know is to lower their expectations, many people really believe the ads they watch online and they think that trading is not only very easy but at the same time the profits they can earn are very high, by reducing their expectations to something more realistic, and even mention them that many newbie traders do not make any money at all, then you can prepare them psychologically to the losses they will inevitably suffer at the beginning of their journey and avoid taking the blame for those losses.

You are right about it ,I think that one of the things that you should talk to a friend about is to consider that if you put money in the market it has to be for investment (in the long term, it is better) and that you have to Refrain from taking that out losing money,or being a Market speculator, and when you Realize that bitcoin has a very high potential to rise, that its last ATH was close to $70k and that the next one may be close to $200k, don't I think there is another Motivation, because only in this way to have money, buy bitcoin and save it is the best thing to do.

[Zilon]

I don't want a situation whereby someone will say that I scammed him if there is a sudden dip in the crypto industry, so I just told him to open a binance account and verify it, after then, he should get back to me so I can send him the hard copy of the crypto course I bought.
Uptil now I still feel uncomfortable about it, I don't know if am wrong or right for opening up, even though I told him of the risk involved.

I feel if the chance to do close mentorship will not be there there is no point releasing the video to your friend to avoid a situation where wrong understanding of the concept taught becomes what is applied.

Trading is one skill that requires patience and discipline and this two can only be achieved through close mentorship, Knowledge about trading can be learnt anywhere including online videos and books but when the discipline is lacked it will difficult to apply the knowledge correctly.

[MFahad]

It is a mistake to consider trading as a sole source of income, and the risk of this error increases if the person supports his family or has to fulfill some payments such as the costs of a loan, a house, a car, or any financial activity related to a certain time, such as electricity bills and rent.

Trading can be considered an additional source of income if you can bear the risks resulting from it, and it is easy for you to lose that money, but you are ambitious and plan to make the most of that money and multiply it.

Here, trading will be acceptable, but with a rewarding financial return, due to the ease of controlling your emotions and not needing money with time restrictions.

Right because if you consider trading as a sole way of earning so if you sometimes don't succeed to earn then you will not have any other option to get money to manage expenses. If a person has a salary but not enough then trading is a good way because if unfortunately you don't win there will already be a choice of your salary which will then be satiable for life expenses. controlling of emotions is also very important so be patience with your saving otherwise it will be risky for you.

[rozak]

It is a mistake to consider trading as a sole source of income, and the risk of this error increases if the person supports his family or has to fulfill some payments such as the costs of a loan, a house, a car, or any financial activity related to a certain time, such as electricity bills and rent.

Trading can be considered an additional source of income if you can bear the risks resulting from it, and it is easy for you to lose that money, but you are ambitious and plan to make the most of that money and multiply it.

Here, trading will be acceptable, but with a rewarding financial return, due to the ease of controlling your emotions and not needing money with time restrictions.

Right because if you consider trading as a sole way of earning so if you sometimes don't succeed to earn then you will not have any other option to get money to manage expenses. If a person has a salary but not enough then trading is a good way because if unfortunately you don't win there will already be a choice of your salary which will then be satiable for life expenses. controlling of emotions is also very important so be patience with your saving otherwise it will be risky for you.

those who invest and trade really shouldn't make it their main income. it's not just a matter of emotional control, it's really important. but no less important, a gambler must wisely share their main income from work done for trading or other activities. the most important thing is not to interfere with the family finances.
I don't know if there really are day traders who make trading their main income to make ends meet. maybe there is but that is a day trader with a fairly established capital.

[xSkylarx]

It is a mistake to consider trading as a sole source of income, and the risk of this error increases if the person supports his family or has to fulfill some payments such as the costs of a loan, a house, a car, or any financial activity related to a certain time, such as electricity bills and rent.

Trading can be considered an additional source of income if you can bear the risks resulting from it, and it is easy for you to lose that money, but you are ambitious and plan to make the most of that money and multiply it.

Here, trading will be acceptable, but with a rewarding financial return, due to the ease of controlling your emotions and not needing money with time restrictions.

Right because if you consider trading as a sole way of earning so if you sometimes don't succeed to earn then you will not have any other option to get money to manage expenses. If a person has a salary but not enough then trading is a good way because if unfortunately you don't win there will already be a choice of your salary which will then be satiable for life expenses. controlling of emotions is also very important so be patience with your saving otherwise it will be risky for you.

Basically, it's a side hustle, but let's not talk about those professional traders that are really good in trading as they are fulltime on it and they invested a lot of their time and money on it. Let's just talk about the same thing to us, which is that it is very impossible to go fulltime without any backup source of income. It is better to have another stable source of income like a job or, let's say, a business that can provide your needs because in trading, it is not always profit, it is not always you will win your entries. There are times that your portfolio is in red. That is why it is better to be ready for those times than only expecting the green days.

[cute nmp]

No need to hide anything from him,Think it is better to tell him all about trading and the risk it involves and that it is a game of wins and losses,cause nobody can avoid them.You can help him with Trading courses, Tutorials and some educational materials.Help guide him through the learning process who knows he may learn the process and be a profitable trader like you someday.

[awik p]

It is a mistake to consider trading as a sole source of income, and the risk of this error increases if the person supports his family or has to fulfill some payments such as the costs of a loan, a house, a car, or any financial activity related to a certain time, such as electricity bills and rent.

Trading can be considered an additional source of income if you can bear the risks resulting from it, and it is easy for you to lose that money, but you are ambitious and plan to make the most of that money and multiply it.

Here, trading will be acceptable, but with a rewarding financial return, due to the ease of controlling your emotions and not needing money with time restrictions.

Right because if you consider trading as a sole way of earning so if you sometimes don't succeed to earn then you will not have any other option to get money to manage expenses. If a person has a salary but not enough then trading is a good way because if unfortunately you don't win there will already be a choice of your salary which will then be satiable for life expenses. controlling of emotions is also very important so be patience with your saving otherwise it will be risky for you.

those who invest and trade really shouldn't make it their main income. it's not just a matter of emotional control, it's really important. but no less important, a gambler must wisely share their main income from work done for trading or other activities. the most important thing is not to interfere with the family finances.
I don't know if there really are day traders who make trading their main income to make ends meet. maybe there is but that is a day trader with a fairly established capital.

day trader there is a daily job. if capital indeed they use large funds. but they don't put all their money into trading or investing in the online world. diversification in various business fields is carried out to obtain a source of income. at first it was income from trading, but after profit sharing, there are funds allocated to other business or investment fields, for example property or the business of opening a coffee shop so that the finances get stronger and have a more stable psychological impact, of course by being able to control emotions affecting performance their trades

[IvugeoEvolutionCoin]

No need to hide anything from him,Think it is better to tell him all about trading and the risk it involves and that it is a game of wins and losses,cause nobody can avoid them.You can help him with Trading courses, Tutorials and some educational materials.Help guide him through the learning process who knows he may learn the process and be a profitable trader like you someday.

I have seen people who trade most of the time keep an eye on the cryptocurrency market. If you want to trade you need to keep an eye on the cryptocurrency market. If you choose the right coin you can make a profit. If you invest in the wrong coin you will  There will be a risk of losing money. I think first we need to start trading with a good understanding of the market.

[BitcoinTurk]

I don't know if am wrong or right for opening up, even though I told him of the risk involved.

It will suffice to tell him that trading in cryptocurrency market is risky and that he must carefully control the risk. In addition, if you specify that he should have knowledge about the market, follow the news and do his own research before taking any action, there will be no situation where you have to take responsibility.
It is also necessary to remind your friend to trade in the cryptocurrency market with his savings that he does not need in short or mid term, because a beginner can lose all his savings in cryptocurrency market as a result of greed, and this can hurt him a lot.