Quote from: merekamo on Today at 01:15:21 AM

Quote from: Amphenomenon on January 05, 2024, 08:12:39 PM

It's January 5 and those traders who focus on using leverage are already hitting huge losses when it's not even bear market.

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This happened 2days ago, over $600 million has already been loss few days to 2024. Trading is hard and risky while using leverage makes it more risky especially using high leverages. One reason to avoid trading with leverage is that, these traders suffers more in pump and dump Schemes and also market Manipulations especially those traders who trade meme coins and other altcoins which are prone to this.
The best bet now is to HODL even if you are investing in altcoin find some trusted ones and HODL while if you reduce risk entirely just stick with bitcoin since we have seen alot of altcoins which fail to meet expectations.

Even if you desire to trade just use spot trading or any other offering less risk while when using leverage use small leverages and don't be too greedy to use stop lost and take profit.

Also you shouldn't be disappointed or give up in bitcoin or crypto investment if trading hasn't work for you just try to HODL bitcoin or at least do more proper research on the altcoin you choose to HODL while if you are still have desire to trade, reduce the amount you use in trading, try to avoid risk when necessary and continue to learn to improve your skills and knowledge about trading.

One big red flag to remember in leverage trading is that you could be adversely affected by pump and dump schemes, not to mention market manipulation. I mean, especially for those of us who trade certain meme coins and altcoins. We know that this token fertile ground for this kind of thing. I also bought some alcoins but only to take short profits, it's very rare for me to hold coins for a long time.

If you invest in altcoin for a short period of time expecting a small amount of profit, you will definitely not be able to make a profit. You must increase the power of patience if you want to profit, or you will never be able to make more money. First of all you need to know that both short term trading and investing are risky so you don't take such risks which can result in losing your money. However, if you invest for profit, you must increase your patience and avoid altcoin investment because it is risky, so if you want to invest risk-free, you must invest in bitcoin for a long time.