Did you really know what CZ would mean?

[davis196]

This was posted on bitcoin discussion but I think we traders need to also specifically discussed about it. This is coming from a person that is a former Binance CEO and he will still know what is going on to traders.

He has traded before, he was losing, but this can not be to reason he posted this. I think he posted this because of what he is seeing about crypto trading. He noticed that most people are losing.

Or am I wrong?

Just don't try to find hidden meaning and secret wisdom in CZ's posts. There's no hidden meaning. He just admits that day trading isn't for everyone and most day traders lose money in the long run. He is right about HODLing being better than trading, but I don't like the fact, that he is shilling his BNB altcoin. By the way, I like the fact that CZ is being honest. He's the former CEO of Binance and centralized crypto exchanges like Binance want more day traders, so that the CEX could make more money. It would make more sense for a guy like CZ to make social media posts urging more people to sign up to Binance and start trading, but he is being honest about the potential risks of losing your money via day trading.

[tbct_mt2]

Just don't try to find hidden meaning and secret wisdom in CZ's posts. There's no hidden meaning. He just admits that day trading isn't for everyone and most day traders lose money in the long run. He is right about HODLing being better than trading, but I don't like the fact, that he is shilling his BNB altcoin. By the way, I like the fact that CZ is being honest. He's the former CEO of Binance and centralized crypto exchanges like Binance want more day traders, so that the CEX could make more money. It would make more sense for a guy like CZ to make social media posts urging more people to sign up to Binance and start trading, but he is being honest about the potential risks of losing your money via day trading.

CZ is no longer a Binance CEO but he has his management impacts on Binance behind the scene and people consider CZ like God with anything he said, tweeted is right. I don't think so but I agree that CZ is very mindful and his experience in this market is enough for him to give valuable advice to many newbies in this market. His personal success from selling his apartment and fully invested his money in bitcoin, to his business success with Binance, are like motivating stories for anyone who want to join this market or are still as newbies in this market.

In recent months, Binance got a lot of drama since the CEO position changed to Richard Teng, Binance Alpha with many low quality projects, and the technical bugs from Binance that triggered 10 October market crash. CZ if is still a Binance CEO would be in hub of community criteques but fortunately he is no longer Binance CEO.

[fredericktaylor]

Trading is very risky and I believe everyone that is a trader knows about that, for me I usually trade because I see it as a fun activity and I use only my discretionary income to trade because I know how risky it is, when you are fully involved in trading believe me you will be losing money a lot so the best thing to do is to use only your discretionary income to trade and then focus on accumulating  bitcoin and holding for a long time just like he said that is one of the best things to do. I’m not saying that people who are trading Don’t make money from it. They do, but it is very risky and we should be very careful so we won’t lose money we are suppose to use for an important thing in our life to trade.
Just like the OP said, use only money you can afford to lose, which is also using only your discretionary income.

It is absolutely true that trading is very risky, it is not easy to achieve success in trading. Due to a few mistakes in trading, all the money can be lost, it is relatively better to trade with the money that we can lose, as a result, there will be no additional financial pressure on ourselves. I personally prefer investing more than trading. By purchasing Bitcoin consistently with the right knowledge and long-term planning and holding it patiently for the long term, one can avoid inflation in the future and expect profits in the long term.