For newbies and plebs who want to self-study to become "traders"

[Wind_FURY]

My advice - BE CAREFUL

Investment and trading books, articles and videos are made by people who might not actually be winning traders. They make their money by writing "investment materials" and sell it to us, the plebs.

Plus "as traders", most of you will lose money and leave. Some of you might return and lose more money. Some might have learned their lesson the hard way and just HODL Bitcoin. The few who actually put in the most time, effort and who are well-capitalized might make it.

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[Dictator69]

True, there is a saying for it as "All that glitters is not gold" i have read many stories in my school and childhood life. Still observing many events like these where big or promising projects, represent them as the best investments projects but instead they just luring you into phishing scams.

I totally agree with you and will always remain care full, i have seen many examples, like the recent one. SCAM or not ?. we should all remained careful either we are newbie or not because human mind is full of feelings and once a human mind falls for some phishing scheme it become difficult to get out of it. So best practice is not to look at such schemes and always do proper research.

[Oshosondy]

I have been trading for some years now, I check my net profit and loss, I still lose more than I win on most exchanges that I am using, except only one which is Huobi global which I still have profit, all other exchanges that I am using, I lose more than win. This has nothing to do with the exchanges, but it is just what happened to me.

According to one research in the past, Among 100% of traders, many of them changed to swing trading and holding after they have lost money and they continue to lose in scalping and day trading. Traders that are married prefer to trade with little amount of money that they can afford to lose. Some traders, especially those that are not married and have no responsibilities yet continue to trade with high amount of money and lose, while only few traders like 5% out if 100% that are making profit from trading.

It is good to be patient, holding could be better. Holding could be better.

[Wiwo]

Trading is like gambling most especially future trading and swing trades that could wipe off your entire balance,  and what I do as newbie trader back then was to trade only in stable coins like USTD so that I can be safe if the market goes against my liquidation,  take for instance,  if you trade in coins that are unstable in price,  their market actions and reactions could affect the amount you hold as an asset and if the trade goes against you at the same time then you lose becomes double and that could mean more loses for the traders.,  but that is when trading in manual ways.

On the topic of trading guides,  books,  and articles,  my thought on them is that reading and depending on them can only help you to gain some experience from the writer's own experiences which could differ from your own overall experience and also more so that,  you tend to increase your chances of getting misleading information relying on the tips being offered by those so-called expert writer's because some of them lack the practical experience since they only write to make sells from the writer of the book than being involved in the practice of what is written in their books.

I can't afford to risk my Bitcoin in trading and if I have to trade then it must be with USTD because for me my Bitcoin is solely for holding for long terms.

[Wind_FURY]

Trading is like gambling

It IS actual gambling, especially for us plebs. I don't care what "skill arguments and justifications" many people post because if there's any possibility that we'll lose money in something, then it's a gamble.

Having said that, even starting a business is a gamble, and a leveraged gamble at that if you, as the entrepreneur, are using borrowed/loaned money.

[UchihaSarada]

Investment and trading books, articles and videos are made by people who might not actually be winning traders. They make their money by writing "investment materials" and sell it to us, the plebs.

They can be lecturers at universities, can be professors and have deep knowledge about trading but if they trade, they might not be winners. Between theory and reality, practice are very different and they can not trade successfully if they only apply knowledge but can not control their emotion.

Books if don't have advice about investment is safer than trading, are not worth to read.

Plus "as traders", most of you will lose money and leave. Some of you might return and lose more money. Some might have learned their lesson the hard way and just HODL Bitcoin. The few who actually put in the most time, effort and who are well-capitalized might make it.

If traders buy books, authors receive money and it's good for them. If traders register their accounts by referral links from their trading teachers, signal group owners, those guys will get money from referral money.

Traders lose or win, who care?

[abel1337]

My advice - BE CAREFUL

Investment and trading books, articles and videos are made by people who might not actually be winning traders. They make their money by writing "investment materials" and sell it to us, the plebs.

Plus "as traders", most of you will lose money and leave. Some of you might return and lose more money. Some might have learned their lesson the hard way and just HODL Bitcoin. The few who actually put in the most time, effort and who are well-capitalized might make it.

Just like financial advisors who are selling their knowledge to someone. To be honest I think it is still helpful to read those books, articles and videos but it should at less or zero cost to you. There's no perfect way to execute a perfect trade on trading, everything comes with experience to deal with situational happenings. Though I think it is ok to start up with reading those materials as a boost in learning how to trade given that those materials is sorted with the important parts to learn about trading. Though never expect to make millions by just following it.

[GeorgeJohn]

My advice - BE CAREFUL

Investment and trading books, articles and videos are made by people who might not actually be winning traders. They make their money by writing "investment materials" and sell it to us, the plebs.

I don't think experience people that deals with investment do pay attention on those kind of investment proposals through Internet or in any social media, what us to understand over these points of yours, is that it's the newbies and people who is not aware of scam that always be a victim of this fraud or scam from my perspective, because they always be inquisitive to give any funking information they come across on social media and Internet a trial, so an experience person won't be a victim of it.

Plus "as traders", most of you will lose money and leave. Some of you might return and lose more money. Some might have learned their lesson the hard way and just HODL Bitcoin. The few who actually put in the most time, effort and who are well-capitalized might make it.

It's necessary that a trader most experience lose in one of it's trade, and if a trader loses and find out the area that lead he or her to lose I think it will to try for the second time, if its a legitimate platform I think giving a second trial to the same platform you might have noted your observations of what triggers the first lose. When you learn and know the key of trading and observe your lapses in your previous participation in trading, you should be able to know where the loophole come from in the previous trade, secondly what makes people to be curious to go for a second trial is they want to recover the one they have already lose, so I think that a trader should trade with what it can afford to lose without thinking of recovering the one it lost already, when such mindsets enters into a trader that is when what you narrated will happen to the trader.

[pooya87]

Investment and trading books, articles and videos are made by people who might not actually be winning traders. They make their money by writing "investment materials" and sell it to us, the plebs.

This is so true.

Another way of scamming people is to create a lot of "signals" regularly and these scammers use social media (eg. twitter or telegram). Basically they buy a shitcoin then start advertising it as a "good shitcoin to buy" so that after others bought it and price went up, they could dump it and make profit while others bag-hold and lose money.
They are easy to recognize too because if anybody had a "good signal" they wouldn't be giving it away for free or even for money. They'd invest themselves and make a lot of money.

[isaac_clarke22]

My advice - BE CAREFUL

Investment and trading books, articles and videos are made by people who might not actually be winning traders. They make their money by writing "investment materials" and sell it to us, the plebs.

Plus "as traders", most of you will lose money and leave. Some of you might return and lose more money. Some might have learned their lesson the hard way and just HODL Bitcoin. The few who actually put in the most time, effort and who are well-capitalized might make it.

Or just for content fillers to get their sponsorship get through . No one will tell ya how to be rich in trading, or simply put it no one will tell ya how to get rich at all.

I am one of those people that "learned their lesson the hard way and just HODL Bitcoin". It's just not worth investing my mental health in keeping up with my trades daily especially that what I was doing was merely day trading. What I earned? Lesson and experience.   I still learned quite few technical stuffs like Bollinger Band and RSI though.

It's perfectly fine if trading isn't working out for ya. Trading is not for everyone.

[michellee]

Be careful is the most appropriate advice in trading or investing and study it in more detail before you decide that you don't lose a lot of money. But even if later you experience losing money, you should not give up because it is a learning process and everyone experiences it too. You still have to learn more so you can succeed.

And if you still feel that trading is too hard for you, you can hold your Bitcoins and not trade and just buy Bitcoins regularly. That will reduce the risk of losing money trading because you are not buying and selling and just buying to keep to your desired limit.

If you are already successful in trading, don't assume you are an expert because there are more experts in trading but they don't call themselves experts and keep learning. Remember that crypto trading is always changing so you should keep learning more.

[Beparanf]

Investment and trading books, articles and videos are made by people who might not actually be winning traders. They make their money by writing "investment materials" and sell it to us, the plebs.

Most of the trading book materials is not teaching specific strategies but rather the proper use of indicators for your own strategy. They sometimes give their personal experience on the application of the tools they are discussing but it doesn’t mean that they are teaching a specific guide to have a successful trading.

I don’t read a lot of trading books but the one I read and learned trading only guides reader how to properly trade by use of the trading tools and guide on how to come a working strategy for your trade.

[Flexystar]

Yeah right on the point I like it. You just made a good point about all these scammers. Yes they are scammers because they would just use the weak points of the others for their own gain. In trading world the weak point is money, people being hungry about the knowledge and people being hungry about the quick money earning tips. Mostly the YouTube’s channel work in this manner. They will sell what’s really needed by weakness and not by what’s actually needed to remove that weakness. It’s like showing the world a good life, leisure time and what not to attract but there is nothing on the other side. So definitely be careful about such books and channels.

[Nrcewker]

Investment and trading books, articles and videos are made by people who might not actually be winning traders. They make their money by writing "investment materials" and sell it to us, the plebs.

The ones who don’t have skills, they become advisors, as giving advises are easy but fulfilling it requires knowledge and skills. For them this is the source of income and they master the art of convincing. If you are a newbie trader then always do research yourself on the coin and market where you investing. Set a budget for investment and don’t greed for more profits.

[Hamphser]

My advice - BE CAREFUL

Investment and trading books, articles and videos are made by people who might not actually be winning traders. They make their money by writing "investment materials" and sell it to us, the plebs.

Plus "as traders", most of you will lose money and leave. Some of you might return and lose more money. Some might have learned their lesson the hard way and just HODL Bitcoin. The few who actually put in the most time, effort and who are well-capitalized might make it.

You wont really be having that continuous lose if you are really just that sensible or mindful on what you are doing because if you do see that the things that you've been reading up arent really that effective nor working

then it would really be just that normal or having the common sense that you would really be needing to adjust on whatever things that supposed to be done because it would really be just that normal that you
would really be making adjustments and would really be having that trial and error thing and wont really be sticking on something that doesnt work. It is really just dumb that you would
really be making yourself fully rely with those ebooks and trying out to strictly follow even if you do see that it does give out that kind of bad results.

It is really just that right that you would really be making out adjustments if you do see that it is really that causing more losses.Its true that when it comes to self learn
then lots of things that we should really be doing and this is why trial and error would really be that relevant.

[Frankolala]

Trading is like gambling

It IS actual gambling, especially for us plebs. I don't care what "skill arguments and justifications" many people post because if there's any possibility that we'll lose money in something, then it's a gamble.

Having said that, even starting a business is a gamble, and a leveraged gamble at that if you, as the entrepreneur, are using borrowed/loaned money.

New business is gambling because one hasn't have the experience of the market challenge and you will not be fully prepared for the risk. Trading is gambling and only few traders make success in trading just the way gamble is. In trading one with always loss more than he gains. When you trade is like you are chasing shadows instead of hodli to make big profit.

Newbies think trading is profitable and they rush into it without know the risk involved in it for professional traders,talk more of the newbies.What I have understand in bitcoin investment,it is better that you cherish your coins and keep hodli than you get greedy and gamble them off,think that you want to make profit with your coins.

[wxa7115]

My advice - BE CAREFUL

Investment and trading books, articles and videos are made by people who might not actually be winning traders. They make their money by writing "investment materials" and sell it to us, the plebs.

Plus "as traders", most of you will lose money and leave. Some of you might return and lose more money. Some might have learned their lesson the hard way and just HODL Bitcoin. The few who actually put in the most time, effort and who are well-capitalized might make it.

This is very common when it comes to trading books, it seems that no one really takes the time to make a quick search about the person behind the book and see if they are actually famous traders which have earned a lot of money from the markets.

However there are a few books actually written by expert traders, with the best of them being the ones written by the creators of a famous indicator, after all who can teach you how to properly use the Bollinger Bands better than a book written by John Bollinger himself?

[Strongkored]

That's also what people who have paid signal channels do, they do this because they understand how difficult it is to keep our trading results at a surplus, so the way to do this is by selling signals, which, even though it's very rare, successful traders will bother wasting their time doing analysis and selling the results of their analysis, and they will try to attract people by showing their trading success, while we can never know how much he has actually lost.
Hold is better but only for bitcoin while the altcoins are really bad because many of these coins will end up in ashes, like the coins in my wallet just become trash because they have no value even though they can be sold but they don't cover network fees.

[jeraldskie11]

My advice - BE CAREFUL

Investment and trading books, articles and videos are made by people who might not actually be winning traders. They make their money by writing "investment materials" and sell it to us, the plebs.

This is something I agree with. Even individuals who are not the book's author endorse and selling it to newcomers. There are mentors out there who may be selling books or PDFs of the strategy he learnt from YouTube or others. After that, they simply leave the newcomers in the air and let them figure out trade on their own. If that's the type of mentorship you're looking for, I'd advise you to avoid it. You must learn to choose intelligently if it is truly worth it in order to avoid wasting your time and money.

[beerlover]

Investment and trading books, articles and videos are made by people who might not actually be winning traders. They make their money by writing "investment materials" and sell it to us, the plebs.

This is so true.

Another way of scamming people is to create a lot of "signals" regularly and these scammers use social media (eg. twitter or telegram). Basically they buy a shitcoin then start advertising it as a "good shitcoin to buy" so that after others bought it and price went up, they could dump it and make profit while others bag-hold and lose money.
They are easy to recognize too because if anybody had a "good signal" they wouldn't be giving it away for free or even for money. They'd invest themselves and make a lot of money.

That is such a sad thing but it is very true that they make a lot of money that way. I mean they end up just using fake signals, just signals based on some indicators that mean nothing which people can do themselves as well, and then they hope that those indicators hit. I have seen people who even delete their old stuff without shame, and if anyone catches them, they just delete those responses as well.

I really find this disturbing because these people are scammers and we have absolutely no way of stopping them because there will be a lot of people who will fall victim to these people. We should have some "influencer hell" type of list where we list all kinds of terrible people who share these stuff and tell people to avoid them.