Post
Topic
Board Trading Discussion
Re: Before Trading Bitcoin you should...
by
bettercrypto
on 31/05/2024, 19:43:20 UTC
A lot of mistakes people make a lot is going into bitcoin trading without any steady source of income. While it is true that  bitcoin trading can change your life for good, you should also know know that it could also wreck you. First get enough knowledge, make sure you are working as this will help you fund your trading accounts. Only trade what you can afford to lose.

Do not also invest your life savings into bitcoin trading. this will hinder your trading capabilities as you will be trading with emotions and fear of losing your money. Trading is best done without emotions attached this will allow you make decisions better.

Do not quit your job if you have one until you have become very profitable in bitcoin trading. The market can become very unpredictable and you can lose funds, so for you not to go bankrupt you should be very profitable before you quit you job or any other source of income you have.

Do not forget that you should always risk what you can afford to lose.

I remember before I read an article way back in 2017, and I can't even remember what article it was where there was a Bitcoin fanatic who sold all his property, from his house and land to his car and other things, using it in exchange for investing in Bitcoin.

He even got to the point where he sold the last pair of socks that he didn't use much anymore; he was so dedicated to Bitcoin, he just didn't talk about it. Now, here's what you're saying: this Bitcoin can really be a source of income as long as you have full knowledge about it and you know yourself that you can make a profit here in trading, but if you don't have a deep and wide knowledge of trading, don't pursue it, of course, because for sure the time and effort you will put into it will be wasted.