Post
Topic
Board Trading Discussion
Re: Fast ways to lose money trading
by
South Park
on 11/01/2021, 20:43:40 UTC
For people who do not know how to analyze the market, not many choices but to follow the predictions of others, therefore there is such a thing as a copy trade.
Nonetheless, you don't have to follow everything on the other side but determine your own goal and read the trend on the market, the pattern always repeated throughout history. For example, if bitcoin value increases, ethereum and litecoin are more likely to increase as well, it has been proven even at the moment, then your call to buy bitcoin, eth, or cheaper litecoin.
That mentality is why people get in trouble in the market, if they do not know anything about trading there are only two legitimate options that you can follow, the first one is to begin your learning journey so you can understand the markets by yourself, and if for some reason you do not want to do that then you need to stay away from the markets, but people think they can outsmart the markets and just follow the advice of someone else and make profits anyway and for the most part that strategy ends in disaster.