Hodl (Naija)

[cxtreenal]

Although trading and gambling are different, there is some similarity in the risk of losing money. To reduce excessive losses, it will be necessary to manage funds with discipline and be patience.

But it is worth knowing that among the 85 to 90% of traders that are losing, almost no one among them wish to lose. Also some traders among them will think they are patient and think that they know about risk management until trading teach them lessons they do not want in their life.

You are right, those traders develop a tolerance for losses. They do not lose regularly as happens with gamblers. They are determined to continue trading as long as they have available funds because they expect to make high profits but they basically keep on increasing the losses. Short term trading only takes away from them profits instead of giving them profits.

Trade with a risk-tolerant amount of funds. Break the tendency to get rich in a short time.

Exactly, trading with very small amount of money is important. Holding is better, not stressful like trading that can waste many people's time, money and comfort

It would be a wise decision for those traders who lose more than they make profits from trading and realize their mistakes and soon they start moving towards long term investments because this method is less stressful and has a great chance of high returns if completed in a specific period (4-8 years).

[Karl_3000]

Bitcoin price

₦111,513,021 ($80,653).

These are the changes I will like to add to th topic

1. A good bitcoin holders should know what is going on around the world's about bitcoin, it should not only be about Nigeria, it will be good if people are posting about lastest news on bitcoin on this thread, about news that can increase the price of bitcoin.

2. I will also like us to be discussing about how to protect our bitcoin. We should discuss about lastest malware, scam, hack and how our bitcoin can be lost so that we can abstain from what can cause our bitcoin to be lost. It can be news or anything related.

I will later edit the topic about it.

[Sticky Bomb]

2. I will also like us to be discussing about how to protect our bitcoin. We should discuss about lastest malware, scam, hack and how our bitcoin can be lost so that we can abstain from what can cause our bitcoin to be lost. It can be news or anything related.

About this it is important we practice using bitcoin-only wallet to preserve our bitcoin, It helps us with precision since meddling with other altcoins in a multi-currency wallet can expose our bitcoin to social engineering. Bitcoin is good to be kept offline in a cold storage and air gapped device and we can only achieve this if we use a bitcoin-only wallet. Good to note that most hacks occur on hot wallets and releasing our private keys online, so if we would keep our keys securely offline and only maintain a watch only wallet online, then we would be safe from hack.

[Karl_3000]

Bitcoin price

₦107,022,655 ($77,981).

About this it is important we practice using bitcoin-only wallet to preserve our bitcoin, It helps us with precision since meddling with other altcoins in a multi-currency wallet can expose our bitcoin to social engineering. Bitcoin is good to be kept offline in a cold storage and air gapped device and we can only achieve this if we use a bitcoin-only wallet. Good to note that most hacks occur on hot wallets and releasing our private keys online, so if we would keep our keys securely offline and only maintain a watch only wallet online, then we would be safe from hack.

Bitcoin-only wallet are very good if they are cold wallet because cold wallets are the safest wallets but there are some hardware wallets that is having bitcoin and some altcoins. The one that I know most about are Trezor wallets. I am not saying many altcoins are not shit coins but I am just saying that there is a secure way to keep altcoins too that is better than a hot wallet and that is hardware wallet.


I have edited the topic and included these:

These are examples of what we can post about:
1. Encouraging people to hold bitcoin
2. Discouraging trading. Another topic can be created for trading
3. Positive news about bitcoin and news about bitcoin
4. Long term bitcoin price speculation
5. News about how to avoid scammers and hackers
6. Information about privacy, security and safety
7. The importance of self-custody.

[Karl_3000]

Bitcoin price

₦105,004,907 ($76,640).

[LOVER BOY 422]

You are very correct, trading is 100 percent gambling

Trading is not 100% gambling, but most traders are not trading, but they are gambling because most of them know the rules and the strategies, but if they have started losing, they do not follow the rules.

According to statistics, people are losing most in gambling than in trading. At least, it is estimated that 97% of gamblers are losing, but around 85% to 90% of traders are losing.

Yes, they are both very risky.

Although, I also can not recommend trading to anyone because of how risky it is.

When they said trading is 100 percent gambling doesn't mean that is gambling in football what I mean is the gambling inside trading is 100 percent that's why most people always lose in trading, I don't mean gambling in football, this is just a word to classified that in trading many people do lose because of it gambling nature.
And of a truth trading is 100 percent gambling in the sense that many of the traders only stop in that gambling stage that's why is not advisable to trade in Bitcoin instead of you trading which is 100 percent gambling, why not invest your money in Bitcoin investment, though it takes time and years which a trader will not like , but an investor who knows the benefits in investing in a long time this are two different kinds of investment, though to me I prefer investing in Bitcoin than trading in Bitcoin.