A nob in trading needs help

[irhact]

But at this point, I will really like to know whether or not Bitcoin trading is a means to gain profits during market speculations, and how possible it is to make passive income through cryptocurrency trading.

Bitcoin trading is one of the riskiest ways of making money from the market, it isn't impossible to make profits but you first have to understand trading before you begin trading or you'll lose all your capital in just matter of days of trading. Why many newbie lose when trading is because they are looking for quick gains instead of having patience as they trade. If you learn very well, you'll make profits.

Trading isn't passive income but you can make passive income by participating in the commission program offers by the exchanges when you help introduced new traders to their platforms. Each exchanges has a referral page and their rules are different so visit the page of an exchange you want to use to understand better.

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[boyptc]

But at this point, I will really like to know whether or not Bitcoin trading is a means to gain profits during market speculations, and how possible it is to make passive income through cryptocurrency trading.

HODL is a passive way of investing on Bitcoin. But if you don't like that, then by means of having passive income is you'll need to put that on a wallet or exchange that will give you profit in form of APY.

I don't like to have it on exchanges because their rates are low and you're not sure of the safety of your Bitcoin there because you will not have the private keys.

Trading is hard, and that's an honest opinion for me and not everyone that trades are profiting from it.

[wajik-tempe]

There are several ways that traders may use to generate passive income through bitcoin trading. One common method is "HODLing," which is holding onto cryptocurrencies for an extended length of time in the belief that their value would rise over time.

Another option is to generate passive income by staking or lending bitcoin. Holding bitcoin as collateral to safeguard the network and collecting rewards for verifying transactions is what staking is all about. Lending is the process of lending bitcoin to other traders in return for interest payments.

[AakZaki]

Why not, generating passive income with cryptocurrency trading is very possible, depending on how one does their trading strategy and how much money is invested.
It is indeed quite high risk, but for experienced traders, profits will be obtained on every market movement that occurs. only need to read and predict market prices, buy cheap and sell at high prices. quite simple but not that easy, psychology will be very played.

[Nrcewker]

At this level, I am well informed about Bitcoin and its securities, I have read on the forum how Bitcoin and cryptocurrency trading has changed people's lives, and I am kind of interested in acquiring skills, I have read in many other threads on how risky Bitcoin trading is.

But at this point, I will really like to know whether or not Bitcoin trading is a means to gain profits during market speculations, and how possible it is to make passive income through cryptocurrency trading.

You can really make trading as a secondary source of income. But provided that, you need to also be careful about the risks involved in the market. Trading isn’t at all sure money. In trading the chances of losing money is equal that of winning money. If you can estimate the movement of the market then no one can stop you from getting profits. Regarding the acquisition of skills, then that will come along with experience and practice. I would suggest you to watch the market and observe it carefully for few days. Once you feel confident then only use real money in trading and trade in limit.

[teosanru]

At this level, I am well informed about Bitcoin and its securities, I have read on the forum how Bitcoin and cryptocurrency trading has changed people's lives, and I am kind of interested in acquiring skills, I have read in many other threads on how risky Bitcoin trading is.

But at this point, I will really like to know whether or not Bitcoin trading is a means to gain profits during market speculations, and how possible it is to make passive income through cryptocurrency trading.

It's not that easy honestly. Also thinking of trading as a passive income is the biggest mistake you can do. It's not a passive income type. You'll have to be actively engaged in Cryptocurrencies every single day and be studying charts every day for many hours to get a regular income out of it. This is a big mistake to think this as a passive income which you can earn just by investing your money and forgetting about it. Go for HODLing instead if you want this type of income.

[Findingnemo]

At this level, I am well informed about Bitcoin and its securities, I have read on the forum how Bitcoin and cryptocurrency trading has changed people's lives, and I am kind of interested in acquiring skills, I have read in many other threads on how risky Bitcoin trading is.

But at this point, I will really like to know whether or not Bitcoin trading is a means to gain profits during market speculations, and how possible it is to make passive income through cryptocurrency trading.

Trading isn't passive at all, so you understand the concept wrong.

Trading needs skills, knowledge, capital which is affordable to lose and when all these things combine with experience then you will understand the market better which will lead you to make profits.

Anyone can start trading with low capital as possible, let's say with $50 and jump into Binance then try to make atleast 10% in 1 month of period.

[crwth]

I need your point more emphasized or be specific. You said you were already well-informed about BTC and should have read something in the trading discussion already. It is possible, but you still need to work on the possible things you may encounter once you start trading. It's only sometimes going to be all profit; the best way to make sure you profit is by managing your risks.

It is possible as long as you are consistent. It's best to like to use a bot to do things consistently.

[MFahad]

There is no doubt that crypto trading is risky but its up to you that how you manage these risk. Sometime you will get benefit and on other hand there will a time when you don't get any profit in return but will loss your money too so it refers to the fact that success and defeat are unpredictable you can face both of them anytime during trading. Sometimes people actives success at start and they initiates putting whole money into that token and it is their big mistake which should be avoided for success.

[Stalker22]

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It is called "portfolio income" wherein, you gain profits through price appreciation meaning that if you will earn if a certain assets that you hold increase its market value.

Yes, I believe the term commonly used in the cryptocurrency world is "HODLing". It is related to cryptocurrency investment rather than trading. While trading involves actively buying and selling assets with the intention of making a profit from short-term price fluctuations, HODLing refers to the strategy of holding onto an investment for a longer period with the expectation of long-term price appreciation.

I do not agree that you will get sure rich if you put money on cryptocurrency, kindly look the majority of the investors and trader in this industry; most of them are LOSERS and they keep losing more money because they do not have enough knowledge and experience that they can use in order to make profit in this market. The problem is that those newbies are impatient to make money, that is why they putting their hard earned money on some shitcoins that can make them incur huge losses wherein they will regret and doubt theirselvles.
~

Absolutely! That was just my pitiful effort to inject some sarcasm.  

[Dr.Bitcoin_Strange]

I will really like to know whether or not Bitcoin trading is a means to gain profits during market speculations, and how possible it is to make passive income through cryptocurrency trading.

It's very possible to make a profit from trading Bitcoin, but it's also a way to lose money when you are very new at it. I think most crypto traders earn enough money trading Bitcoin, but as a beginner, seeing crypto trading as a means of earning passive income may be futile. In trading, you will definitely encounter losses, and if you don't have enough capital to start with, you may still need to top up your capital. But whereas if you have a real job, you can just use crypto trading as a side hustle until you have mastered your trading skills and are fully convinced you are making a good profit from trading Bitcoin, then you can totally focus on it as your passive source of income, but that doesn't mean you must not have other sources of income as well.

[isaac_clarke22]

At this level, I am well informed about Bitcoin and its securities, I have read on the forum how Bitcoin and cryptocurrency trading has changed people's lives, and I am kind of interested in acquiring skills, I have read in many other threads on how risky Bitcoin trading is.

But at this point, I will really like to know whether or not Bitcoin trading is a means to gain profits during market speculations, and how possible it is to make passive income through cryptocurrency trading.

Take all those stores with a grain of salt, OP. You never know what kind of struggles they went through and what's real or not in the stories you read around here. The reality in crypto trading is that..... it is really meant for everybody and that is perfectly fine. I tried trading before and it isn't just for me at all so I went back to hodling.

It is indeed risky that's why you should just try few bucks first and see if you think you could continue to persevere despite the losses that you'll encounter for a week or even a month depending on how fast can you learn trading. For me, it ain't just worth it at all for me considering I am already exhausted in the first month.

It's very possible to make a profit from trading Bitcoin, but it's also a way to lose money when you are very new at it. I think most crypto traders earn enough money trading Bitcoin, but as a beginner, seeing crypto trading as a means of earning passive income may be futile. In trading, you will definitely encounter losses, and if you don't have enough capital to start with, you may still need to top up your capital. But whereas if you have a real job, you can just use crypto trading as a side hustle until you have mastered your trading skills and are fully convinced you are making a good profit from trading Bitcoin, then you can totally focus on it as your passive source of income, but that doesn't mean you must not have other sources of income as well.

I highly doubt that most traders do earn from trading Bitcoin. Considering how volatile the market is and how long Bitcoin already existed and continue to get new ATH every year, I think they are way more hodlers than traders. I cannot say the same for trader of alts though.

Adding up to what you said, if you don't have a capital to start, virtual trading might be a good thing to start, but it could build up bad habits since you're not "feeling the loss of money".

[darkangel11]

You can trade bitcoin but it's not going to be passive income. As long as you have to put some time and effort into it, it becomes active, not passive.
So, you're probably wondering what's the difference between active and passive income. Passive income is when money comes to your account without you having to do anything. A good example of such thing is renting out a property for long term. Often people have space that they rent out to a company, sometimes it's a bank, or a store. The business often strikes a deal that will continue for years and you will keep getting paychecks.

Holding bitcoin might be passive, but is it a passive income? You are passive, but you cannot be sure there will be an income in a given period of time. Let's say you bought bitcoin in 2021 at 50k, so not the ATH, you did not pick the worst time to buy. You held through 2022 and it's now 2023 and you haven't generated any income. You still have the same amount of bitcoin, but it's not giving you any profit. If this was the income you relied on, you'd be starving right now.

[Dr.Bitcoin_Strange]

I highly doubt that most traders do earn from trading Bitcoin. Considering how volatile the market is and how long Bitcoin already existed and continue to get new ATH every year, I think they are way more hodlers than traders. I cannot say the same for trader of alts though.

That is correct, but do you doubt that some traders who are well experienced in trading make profits? If it was really less profitable for some esteem traders, they would really advise against it. Despite the fact that some don't make much profit out of it, there are people making profit, bro (maybe not many). I also agree that there are more holders of Bitcoin than traders.

Adding up to what you said, if you don't have a capital to start, virtual trading might be a good thing to start, but it could build up bad habits since you're not "feeling the loss of money".

I'm really hearing about virtual trading for the first time, though. I googled about it, and I see that it doesn't have to do with investing real money, and when it doesn't require real money, it means there is no profit coming out of it, so what's the essence? (I would appreciate if you talk about it, that's if you are more familiar with it.)

[suzanne5223]

But at this point, I will really like to know whether or not Bitcoin trading is a means to gain profits during market speculations,

You don't make a profit in Bitcoin trading during market speculation, the result you get after you successfully executed a trade is what will tell if you make profit or lost.

and how possible it is to make passive income through cryptocurrency trading.

You cant make passive income through crypto trading, loss, and profit can happen anytime. If you want passive income the best way is to stake a good proof-of-stake crypto

[Stable090]

At this level, I am well informed about Bitcoin and its securities, I have read on the forum how Bitcoin and cryptocurrency trading has changed people's lives, and I am kind of interested in acquiring skills, I have read in many other threads on how risky Bitcoin trading is.

But at this point, I will really like to know whether or not Bitcoin trading is a means to gain profits during market speculations, and how possible it is to make passive income through cryptocurrency trading.

I think you should change your mentality completely before going into trading, if you  have the mentality of making money in cryptocurrency trading, then you will end up losing money because you don’t have the appropriate knowledge to make money in trading. In trading their is always profits and lose, so you shouldn’t think you will be making money always, you will also lose money also, but make sure your profits is just more than the amount you are losing.

I will advice you to go and read some books about trading, watch some tutorials about trading( actually YouTube videos will deceive you, because they are always talking about profit and they don’t talk about lose, so most people are always deceived), you can also try demo account, then finally you can deposit just little amount of money then you can start trading with it, but in trading nobody will assure you of profit.

[taufik123]

Always expecting profits at the beginning without knowledge is only wishful thinking.
Before thinking about profits it is better to learn first what is needed at the time of trading.

Knowledge of technical analysis is very important. One will not get passive profits without knowing technical analysis and fundamentals.
No matter how much money you have if you don't know how to manage your trading properly, you can never make a profit.

There is no get-rich-quick scheme in crypto, everything requires a process.
Who can go through the process well and know the science of trading gradually the possibility of getting profits is getting higher, but losses are also things that will happen to all traders even though he is a professional in trading.

-snip-
I will advice you to go and read some books about trading, watch some tutorials about trading( actually YouTube videos will deceive you, because they are always talking about profit and they don’t talk about lose, so most people are always deceived), you can also try demo account, then finally you can deposit just little amount of money then you can start trading with it, but in trading nobody will assure you of profit.

It depends on what video you are following. If some of the trading tips will not be deceptive because some of the tools used can be learned by anyone.
I see a lot of trading tutorials on youtube to originate my trading analysis skills.

What needs to be avoided is the advice of some influencers who provide unclear coin recommendations.
They will only take advantage of their followers to continue to buy what they suggest.

[TimeTeller]

At this level, I am well informed about Bitcoin and its securities, I have read on the forum how Bitcoin and cryptocurrency trading has changed people's lives, and I am kind of interested in acquiring skills, I have read in many other threads on how risky Bitcoin trading is.

But at this point, I will really like to know whether or not Bitcoin trading is a means to gain profits during market speculations, and how possible it is to make passive income through cryptocurrency trading.

I think you should change your mentality completely before going into trading, if you  have the mentality of making money in cryptocurrency trading, then you will end up losing money because you don’t have the appropriate knowledge to make money in trading. In trading their is always profits and lose, so you shouldn’t think you will be making money always, you will also lose money also, but make sure your profits is just more than the amount you are losing.

I will advice you to go and read some books about trading, watch some tutorials about trading( actually YouTube videos will deceive you, because they are always talking about profit and they don’t talk about lose, so most people are always deceived), you can also try demo account, then finally you can deposit just little amount of money then you can start trading with it, but in trading nobody will assure you of profit.

Experience will teach him that crypto trading is not all profits.
Reading may come in handy but actual trading is the best to grasp this market.
He needs to start small so he will lose small. Start trading with top alts.
At least, you know they won't disappear in the trading market anytime soon.
No one can guarantee passive income nor profits in every trade even with bitcoin.
Because it depends on your entry and exit level. Just sell above your buying price.
But that is hard if you start seeing the coin is going downhill and you are in panic mode.
Hence, the popular motto here - "invest only what you can afford to lose".
And this is why experience will give him those trading tricks. And it is not an overnight lesson.

[lombok]

At this level, I am well informed about Bitcoin and its securities, I have read on the forum how Bitcoin and cryptocurrency trading has changed people's lives, and I am kind of interested in acquiring skills, I have read in many other threads on how risky Bitcoin trading is.

But at this point, I will really like to know whether or not Bitcoin trading is a means to gain profits during market speculations, and how possible it is to make passive income through cryptocurrency trading.

Sorry if you are going to trade because you are affected by someone's results and that becomes your ambition to make quick money under the pretext of passive income. Damn it, man. Fix your mindset first so that emotions don't affect your trading!

Do trial error with small capital first. The Trading of crypto is not as beautiful as you might think.

[Bitcoin_people]

If you want to gain better knowledge about cryptocurrency trading then you can definitely check out the various sections of the forum where this is discussed. But if you have confidence in the investment then surely you will be able to earn profit. Especially since you are a new investor, you should first consider the market position in detail. And if you want to invest for this long period then you can earn good profit in future. But if you want to earn daily profit then you must join trading. You can get good profit by trading daily but it depends on your skill and experience. so if you want to earn profit by trading continuously then you must first gain experience and then invest.