Quote from: Issa56 on March 25, 2023, 11:47:01 PM

Quote from: Ziskinberg on March 25, 2023, 09:39:13 PM

Taking a loan is not wrong but putting into the situation of being a newbie and having no trading experience yet, we already know the possible end. I believe that OP has the gut to trade but yes, thinking profit shouldn't be on the top of his mind as a beginner but rather help himself to learn first using a demo account than using the borrowed money to lose them all in order to gain experience.

Seriously I don't really encourage people to take loan because they want to trade or they want to invest in cryptocurrency. Incase if anybody is planning to take loan then the person should have another source of income where he can be able to get money to pay back the loan incase if anything happens. Also if you are planning to invest, then you should only invest in bitcoin alone, and you should be ready to hold for long term, so the loan terms and conditions have to be very friendly.

Quote from: Ziskinberg on March 25, 2023, 09:39:13 PM

Many people had come up with a decision to trade because of seeing on social media that many people got a huge profit. I'm not going to tell it was a lie because some did it well. But then, we can't assure ourselves to be like them as well knowing that it depends on us - our strategies and decision-making.

I think most people are deceived by what they see on social media most expecially on YouTube, most of the videos they see on YouTube is always showing when the trader is in profit, they will never show when they are losing, that's what is make most newbies believe they can't lose money in trading, since whenever they watch videos on YouTube, they are always seeing people winning.

Well, I really Pay attention sometimes to the influencers that are on Youtuber but the truth is very difficult to believe all the fantasies they talk About, that they are very consistent that they always have profits and that they never lose, that they are the best that each transaction they make makes them earn a lot of money, and all of that is a vulgar lie, that is not true, and the truth is that what they do is deceive people, some ask them for money to enter their VIP groups where they still lose a lot of money, That is something that cannot be Avoided, if it were really that way the market would collapse.