Before Trading Bitcoin you should...

[bettercrypto]

The crypto market moves very fast so we must always be able to adapt to any situation and the most important thing is the knowledge to trade and continue to learn at the same time.
Regarding failure in trading, it is quite normal, everyone has probably experienced it, but the most important thing is how we can learn from what happened and turn things around.
I totally agree that there should be no giving up for those who have lost in trading, they should keep learning and try again.

All traders will fail when they start trading because trading on live market is not the same thing as trading with demo accounts that many traders use when practicing how to trade and think because they have become good at demo trading that they will make good trade when they start trading on live market but you can lose money quickly than you make profits with love account therefore before trading Bitcoin you need to know that making profits is not alwa easy but if you stay focused you can make profits when you know how to interpret how the market is heading. Trading needs you to be quick to take actions and not waiting for a long time or you will miss entering the market at the appropriate time or exiting the market before it starts dumping and you get dumped on.

What you are saying is true; that's why many people make the mistake of thinking that way. Some people think they already know about futures, but suddenly, when they come to the actual market, the wind suddenly changes... That's why many people are also suddenly corrected in their funds.

So you must know and have knowledge of trading, and not just know something, but have a deep and broad understanding of trading, so that the funds that we will invest in the futures trading of Bitcoin that we will do will not be wasted.

[Woodie]

A lot of mistakes people make a lot is going into bitcoin trading without any steady source of income. While it is true that  bitcoin trading can change your life for good, you should also know know that it could also wreck you. First get enough knowledge, make sure you are working as this will help you fund your trading accounts. Only trade what you can afford to lose.

The thing about trading is that it's not restricted  the type of trading of being behind a screen most of the time and analysing some charts which requires the skill and strategy to be profitable.
Fortunately for us we have other trading types which are less risky like p2p trading which requires dedication and time to be profitable...so I don't believe in this notion of trading can wreck you if you choose what works best for you.

Do not also invest your life savings into bitcoin trading. this will hinder your trading capabilities as you will be trading with emotions and fear of losing your money. Trading is best done without emotions attached this will allow you make decisions better.

Emotions will always be there regardless of source of income, the best approach to managing emotions is to trade with a strategy plus apply proper risk management so that you know that your trade failed for not following your rules or news happened.

[fuguebtc]

Trading can be very risky if we are not ready to follow the right process so we can make money from it. There are so many people that has been making loses in trading due to their misunderstanding about the concepts of trading they have not learnt. There are traders that are making consistent money from their trades and we don't have to copy them and trade because we feel like we want to be having that kind go results. It is good we keep looking for ways on how to grow faster and get the skill than trying to jump some steps to get to the top.

Copying successful traders is a good way to make profits when trading but do not just copy them without learning how they are doing what they do. Copy them in a way you will be the one to analyze the market because this will help you to know how to read the charts of the market. If you only copy and paste, you will make money but not gain knowledge, traders that are being consistent in gains are those that really know what they are doing because we have alot of traders that do not know how to trade but are doing it because they know it can make you profit. Alot of traders depend on trading group for them to give them signals then they will use the signal to make profits but they can not give  out signal to use on their own. Trading can make you alot of money but you do have to know how to manage the money to become more successful.

But have you ever copied trading and been able to make money doing it ? Because as far as I know a lot of people have tried this but no one has ever made a profit by copying successful traders. I don't know what causes copiers to lose while traders still make profits . But I also think there will never be an easy way to make money just by copying other people's signals. So, I would not consider this a good way nor advise anyone to follow this method to make profits.

Instead of wasting time looking for traders to copy, why don't we do it all ourselves? And if we feel it's too difficult for us, let's find other ways to make money instead of stubbornly pursuing things that aren't right for us . Again, I have never believed that it is possible to make easy money just by copying other people's trades.

[Jody.Drummer]

A lot of mistakes people make a lot is going into bitcoin trading without any steady source of income. While it is true that  bitcoin trading can change your life for good, you should also know know that it could also wreck you. First get enough knowledge, make sure you are working as this will help you fund your trading accounts. Only trade what you can afford to lose.

Do not also invest your life savings into bitcoin trading. this will hinder your trading capabilities as you will be trading with emotions and fear of losing your money. Trading is best done without emotions attached this will allow you make decisions better.

Do not quit your job if you have one until you have become very profitable in bitcoin trading. The market can become very unpredictable and you can lose funds, so for you not to go bankrupt you should be very profitable before you quit you job or any other source of income you have.

Do not forget that you should always risk what you can afford to lose.

Honestly, for one to think of quitting his/her job in order to trade Bitcoin.its a no no for me

quitting your job to trade Bitcoin is a significant decision that comes with risks. It's advisable to start trading part-time while keeping your job to see how you fare in the cryptocurrency market before making a full-time commitment. It's also recommended to consult with a financial advisor for personalized advice based on your individual circumstances.

However it was a tough decision for me, because in fact however and whatever type of investment including bitcoin it is always an activity that has risks, I understand that trading or investing can generate profits but however something that involves money will certainly always have a negative side which is the risk of losing money when someone experiences a loss. This means that investing is not always about profit opportunities but also the possibility of losses will always be a part due to fluctuations caused by market mechanisms.

So in my opinion quitting the main job and making investments as a place to meet the needs of life as a whole is a pretty careless decision, it's the same as leaving something certain for something that is still gray, I'm not saying that investing doesn't provide benefits but what is certain is that we must understand that it is nothing more than an “opportunity” meaning that it does not always guarantee that you will always be able to make a profit in every session you do. So it is better to consider carefully before you make a decision to prevent significant regret.

[Gaza13]

If you're already having huge capital for investment, maybe you can have that mindset losing what you can afford. Same with the friend of mine who quit his job, unfortunately the money he saved didn't prosper and eventually got burned in trading. Without proper knowledge on cryptocurrency trading, everything turned down and got vanished when trading without any concrete foundation of skills.

If someone has very large capital, of course he knows the impact of the investment itself, where he will choose, of course he will choose the long term rather than the short term. Of course he already understands the risks he is taking and can take responsibility himself. It's a shame that your friend actually quit his job. This job can indeed make quite a lot of money if we have the ability to predict or analyze it. However, it takes time or quite a long process to achieve all of that, we cannot or just in an instant or overnight we can achieve all of that.

[AnonBitCoiner]

If someone has very large capital, of course he knows the impact of the investment itself, where he will choose, of course he will choose the long term rather than the short term. Of course he already understands the risks he is taking and can take responsibility himself. It's a shame that your friend actually quit his job. This job can indeed make quite a lot of money if we have the ability to predict or analyze it. However, it takes time or quite a long process to achieve all of that, we cannot or just in an instant or overnight we can achieve all of that.

I think most of the wealthy people have huge sums of money are more interested in trading instead of investment and those who have a limited amount of money are interested in investment as they think that if they keep their money in beneficial assets then after some years they will be able to make their economy better.

Those who leave their job for investment or trading are the foolish person and they will realise about their mistakes if they continuously lose money through trading and will then be feeling sorrow to leave their job.

[CageMabok]

I think most of the wealthy people have huge sums of money are more interested in trading instead of investment and those who have a limited amount of money are interested in investment as they think that if they keep their money in beneficial assets then after some years they will be able to make their economy better.

Not all of them are like that, mate, because there are also rich people who invest and trade at the same time, even though the investment they make is for the long term and the trading they do is for the short term. I also don't blame you for what you said because there are people like that in this world, but this doesn't happen to everyone so we shouldn't judge everyone equally. Because people who don't have a lot of money also dare to trade as long as they have the knowledge and mental strength to do it.

Those who leave their job for investment or trading are the foolish person and they will realise about their mistakes if they continuously lose money through trading and will then be feeling sorrow to leave their job.

Don't immediately call other people stupid because they left their jobs, maybe they themselves think it's time to stop being slaves to other people with a small salary so that those who make such decisions are also based on more mature considerations. Even though they will also understand that in terms of trading they will not always be profitable, but as long as they have the courage and mental strength to continue doing this, I think they will also get profits that can even cover the losses they have experienced before.

[Natalim]

Trading ought to be a passive activity which supports your main job. Trading without another source of income will put pressure on the trader to make wrong decisions.

True and this is very reasonable if we want to understand correctly what exactly is the main purpose of our trading compared to the main job, of course we need additional funds from the results of our main work if at any time needed, because it is not impossible that we sometimes forget to set SL and the price of the coin we trade continues to degrade. This condition comes if we are excited about trading in the coin, especially when we see the opportunity for the lowest price to automatically use the fresh funds.

Trading should only serve as a side hustle, not actually as a major source of income. That’s why quitting your main job and replace with trading, that will be a very risky move since not all traders end up making passive income. Trading is a great and quicker way to find profits, but it’s a way also to lose your funds at an instant. So if you can’t balance both your main job and your side job, it’s better to leave your side job if you aren’t capable also in making even small but consistent profits.

Setting stop loss is crucial when trading, that’s an effective way so we can manage our losses or prevent ourselves from losing a lot. There’s no reason we should forget about it, regardless if you are a beginner in trading.

[Vinaa77]

If you're already having huge capital for investment, maybe you can have that mindset losing what you can afford. Same with the friend of mine who quit his job, unfortunately the money he saved didn't prosper and eventually got burned in trading. Without proper knowledge on cryptocurrency trading, everything turned down and got vanished when trading without any concrete foundation of skills.

If someone has very large capital, of course he knows the impact of the investment itself, where he will choose, of course he will choose the long term rather than the short term. Of course he already understands the risks he is taking and can take responsibility himself. It's a shame that your friend actually quit his job. This job can indeed make quite a lot of money if we have the ability to predict or analyze it. However, it takes time or quite a long process to achieve all of that, we cannot or just in an instant or overnight we can achieve all of that.

Understanding it first before starting to invest or trade is of course very important so that they can make the right decisions and can gain profits from what they do and if they force themselves to do something they don't understand well, of course they will lose money. which they use for trading or investing.

If someone chooses to quit their job to invest or trade, of course this will be very risky for them if they experience failure in what they are doing, so it would be better for us to understand this first before deciding to quit our job and choose to be more focused. in investing or trading so that when investing and trading you can get profitable results and I agree with you, the process of being able to make a profit from investing and also trading certainly requires a process so that we can do it well and can make a profit.

[tottong]

Do not also invest your life savings into bitcoin trading. this will hinder your trading capabilities as you will be trading with emotions and fear of losing your money. Trading is best done without emotions attached this will allow you make decisions better.

It is not recommended to trade with excessive emotions because it will affect our performance in trading.
Using all your savings for trading is a bad choice and should not be done because savings have another portion to meet living needs.
Trading can be done responsibly by using a smaller budget to start with.

Do not quit your job if you have one until you have become very profitable in bitcoin trading. The market can become very unpredictable and you can lose funds, so for you not to go bankrupt you should be very profitable before you quit you job or any other source of income you have.

The decision chosen must be based on the right thinking and leaving work to trade in crypto will be very dangerous when we do not have good budget resources.
Improve your trading skills and do it responsibly so that when you decide to stop working you have the right knowledge for trading.
Life will be much more problematic when we are unable to earn money stably and we will be faced with the problem of fulfilling life with our family.

[Sakanwa]

It it always important to know the following before venturing into trading,or having any thought about trading.
1-It is always important to know that trading is a very risky thing,but that doesn't mean you should shy away from it.
2- it is always important to research more about the project you wish to invest in, especially when you have zero knowledge about it.
3-It is always important to have a specific strategy that works for you,or you visit people who have experience in the field to learn more strategies that can help you get a better results.
4-It is always important to start with a little amount of money,so that if you lose,it won't be heartbreaking for you.

[Casdinyard]

A lot of mistakes people make a lot is going into bitcoin trading without any steady source of income. While it is true that  bitcoin trading can change your life for good, you should also know know that it could also wreck you. First get enough knowledge, make sure you are working as this will help you fund your trading accounts. Only trade what you can afford to lose.

Do not also invest your life savings into bitcoin trading. this will hinder your trading capabilities as you will be trading with emotions and fear of losing your money. Trading is best done without emotions attached this will allow you make decisions better.

Do not quit your job if you have one until you have become very profitable in bitcoin trading. The market can become very unpredictable and you can lose funds, so for you not to go bankrupt you should be very profitable before you quit you job or any other source of income you have.

Do not forget that you should always risk what you can afford to lose.

I think having a steady source of income is definitely great, especially if you're investing, so I won't rebuke that, but the thing is, I think the more appropriate thing that people should always take into consideration when investing in crypto, or bitcoin for that matter, is making sure that you are not investing money beyond your means. I've seen friends of mine literally have no other way of getting money but from allowances, still able to  invest and grow their profits all because they employ risk management and are more than happy to consistently put a stake at bitcoin and crypto. In my opinion that's really all the things that you need if you want to succeed in here, cause steady income's great and all but just having that alone without proper mindset and discipline's not gonna bring you profits.

[Zoomic]

A lot of mistakes people make a lot is going into bitcoin trading without any steady source of income. While it is true that  bitcoin trading can change your life for good, you should also know know that it could also wreck you. First get enough knowledge, make sure you are working as this will help you fund your trading accounts. Only trade what you can afford to lose.

Do not also invest your life savings into bitcoin trading. this will hinder your trading capabilities as you will be trading with emotions and fear of losing your money. Trading is best done without emotions attached this will allow you make decisions better.

Do not quit your job if you have one until you have become very profitable in bitcoin trading. The market can become very unpredictable and you can lose funds, so for you not to go bankrupt you should be very profitable before you quit you job or any other source of income you have.

Do not forget that you should always risk what you can afford to lose.

I think having a steady source of income is definitely great, especially if you're investing, so I won't rebuke that, but the thing is, I think the more appropriate thing that people should always take into consideration when investing in crypto, or bitcoin for that matter, is making sure that you are not investing money beyond your means. I've seen friends of mine literally have no other way of getting money but from allowances, still able to  invest and grow their profits all because they employ risk management and are more than happy to consistently put a stake at bitcoin and crypto. In my opinion that's really all the things that you need if you want to succeed in here, cause steady income's great and all but just having that alone without proper mindset and discipline's not gonna bring you profits.

I know quite a number of traders who are into full time trading and still get paid from carrying out trading tutorials for newbies and mentees under their care. They have realised earlier that they cannot be waiting for trading profits first before they sort out some personal bills, hence the need to still earn from what they have passion for. I don't know if there are actually successful traders who rely on earnings from trading, if there are, then they should let us know how they do it because no trader that has no stable source of Income will be able to have a proper mindset towards his trades or investment. The  urge to tamper with his investment money will be high and fighting that urge will be pointless.

[Renampun]

...

Do not quit your job if you have one until you have become very profitable in bitcoin trading. The market can become very unpredictable and you can lose funds, so for you not to go bankrupt you should be very profitable before you quit you job or any other source of income you have.

Do not forget that you should always risk what you can afford to lose.

If you're already having huge capital for investment, maybe you can have that mindset losing what you can afford. Same with the friend of mine who quit his job, unfortunately the money he saved didn't prosper and eventually got burned in trading. Without proper knowledge on cryptocurrency trading, everything turned down and got vanished when trading without any concrete foundation of skills.

Without strong determination, in-depth knowledge and good emotional control, it will be difficult for a trader to make a profit from his trading activities. I'm not a professional trader, but the losses I receive every time I trade are quite small because I always sell when the asset I'm trading goes up 10% or 15% (usually altcoins), when it goes up more than that then I'll buy bitcoin. for my long term investment. Nowadays we have to be able to group the assets we want to manage and always prepare assets for long-term investment (not just for trading) and For those who are not yet ready to do trading, don't try to leave your job now.

[fauzan Ichsan]

...

Do not quit your job if you have one until you have become very profitable in bitcoin trading. The market can become very unpredictable and you can lose funds, so for you not to go bankrupt you should be very profitable before you quit you job or any other source of income you have.

Do not forget that you should always risk what you can afford to lose.

If you're already having huge capital for investment, maybe you can have that mindset losing what you can afford. Same with the friend of mine who quit his job, unfortunately the money he saved didn't prosper and eventually got burned in trading. Without proper knowledge on cryptocurrency trading, everything turned down and got vanished when trading without any concrete foundation of skills.

Without strong determination, in-depth knowledge and good emotional control, it will be difficult for a trader to make a profit from his trading activities. I'm not a professional trader, but the losses I receive every time I trade are quite small because I always sell when the asset I'm trading goes up 10% or 15% (usually altcoins), when it goes up more than that then I'll buy bitcoin. for my long term investment. Nowadays we have to be able to group the assets we want to manage and always prepare assets for long-term investment (not just for trading) and For those who are not yet ready to do trading, don't try to leave your job now.

It's true, while we are learning to trade, our main job is the current job, even if you have big profits and feel that it is easy for you to trade, still use trading as additional income, remembering that we will of course also experience difficult times in trading, and whether we be ready for all of that, especially if we are still beginners in doing it, of course this can damage our psychological stability. Moreover, with various trading methods, it can be done by placing pending orders and targets

[rhodelmabanal]

A lot of mistakes people make a lot is going into bitcoin trading without any steady source of income. While it is true that  bitcoin trading can change your life for good, you should also know know that it could also wreck you. First get enough knowledge, make sure you are working as this will help you fund your trading accounts. Only trade what you can afford to lose.

Do not also invest your life savings into bitcoin trading. this will hinder your trading capabilities as you will be trading with emotions and fear of losing your money. Trading is best done without emotions attached this will allow you make decisions better.

Do not quit your job if you have one until you have become very profitable in bitcoin trading. The market can become very unpredictable and you can lose funds, so for you not to go bankrupt you should be very profitable before you quit you job or any other source of income you have.

Do not forget that you should always risk what you can afford to lose.

Trading crypto has always a risk and even if we are expert in trading there are still time that we will lose because of some reasons, it is because it is normal to human that even if there are earnings they still want more or big that is why they end up losing they feel that the earning or profit is still not enough they wait for big profit that sadly didn't come until all funds are lost including the capital, that is why in trading or investing we need to set a limit for us to earn and control the greed.

[uswa56]

Trading crypto has always a risk and even if we are expert in trading there are still time that we will lose because of some reasons, it is because it is normal to human that even if there are earnings they still want more or big that is why they end up losing they feel that the earning or profit is still not enough they wait for big profit that sadly didn't come until all funds are lost including the capital, that is why in trading or investing we need to set a limit for us to earn and control the greed.

Even though they have good skills and experience in trading, they will certainly make mistakes when trading which makes them lose in trading and indeed this is very normal either because of their greed or because of their mistakes in analyzing the market which results in losses in the trading they do, so it would be better, even though they already have a lot of experience or skills in trading, it would be better if they could still update their knowledge about trading so that they can still trade and make a profit, setting limits is easy to do, but if they don't carry out well the target will be of course they still fail and we must continue to practice all of this so that we can get results according to the targets we have set.

[Fara Chan]

It's true, while we are learning to trade, our main job is the current job, even if you have big profits and feel that it is easy for you to trade, still use trading as additional income, remembering that we will of course also experience difficult times in trading, and whether we be ready for all of that, especially if we are still beginners in doing it, of course this can damage our psychological stability. Moreover, with various trading methods, it can be done by placing pending orders and targets

Simply put, anyone who already has a job that can provide a stable income in their life should not leave that job when they can trade using any method at this time. Because of this stable income, everyone can develop other jobs with various models, including trying trading after studying it for some time so that they can have the courage to continue trying with just the capital they have or with the capital obtained through a stable income. That is why existing income from any main job should not be thrown away because everyone can set aside some of it for trading capital.

[redsun114]

If someone has very large capital, of course he knows the impact of the investment itself, where he will choose, of course he will choose the long term rather than the short term. Of course he already understands the risks he is taking and can take responsibility himself. It's a shame that your friend actually quit his job. This job can indeed make quite a lot of money if we have the ability to predict or analyze it. However, it takes time or quite a long process to achieve all of that, we cannot or just in an instant or overnight we can achieve all of that.

It is not surprising that someone quits his job and goes into business. Many people who are working professionals know that if we continue to work all our lives, we will not be able to make a good future for ourselves and we will only be hand to mouth and will never become rich. Many people save a little and quit their jobs and start their own businesses be it online or offline and many people have done so. They are successful but only those who have already thought about what to do after leaving the job and how to achieve success.

When you leave a good job, you have no other option but to be successful, for which you have already thought of the best course of action that you must adopt. Trading cryptocurrency from a job can be very risky especially if a person is new to cryptocurrency and doesn't know well about coins and market movement it takes years.

[Lantind]

Simply put, anyone who already has a job that can provide a stable income in their life should not leave that job when they can trade using any method at this time. Because of this stable income, everyone can develop other jobs with various models, including trying trading after studying it for some time so that they can have the courage to continue trying with just the capital they have or with the capital obtained through a stable income. That is why existing income from any main job should not be thrown away because everyone can set aside some of it for trading capital.

Having a steady income will certainly make it easier for us to develop whatever business we want and I really agree with you, it would be better for us not to leave a job that can give us a steady income because what we get from trading cannot be guaranteed to continue to be profitable. and occasionally we may make mistakes that cause us to lose on the trades we make and with this steady income, of course this will really help us in meeting our needs when we fail in the trades we make.