Quote from: Odohu on July 15, 2024, 10:49:23 AM

Quote from: Stable090 on July 14, 2024, 07:44:47 PM

Quote from: Ruttoshi on July 08, 2024, 05:39:12 PM

I have observe something in this forum, a lot of people that are not trading or have traded before and had great losses which made them run away from trading are still saying trading is a good means of making profit from bitcoin when they know that the chance of making profit from trading is very slim

I don’t encourage newbies to jump into trading, but I do tell them to first learn about trading, they should have knowledge about the basic things that they are supposed to have, and they should start trading with a small amount of money to practice with, and with time, they can increase the amount they are trading with.

Trading will do more harm than good to newbies who want to go far in Bitcoin because it is a bit complex and require serious technical knowledge and experience to succeed. A newbie does not possible have this knowledge and emotional maturity to handle trading. The best for newbies is to simply buy and HODL Bitcoin, this being an easy thing anybody can do. If in the future he consider venturing into trading, let it be that he has enough capital to pursue it because when a trader knows he has backup capital, it helps with balancing the psychological needs and remove the FOMO and other fears. So, rather than trading, newbies should focus more on building their Bitcoin portfolio first before anything else.

I think your opinion is a nice one since it is very difficult for a newbie to be knowledgeable in Trading without having adequate knowledge but come to think of it,a newbie isn't even supposed to do both things which is trading and bitcoin investment without gaining proper understanding of the basic principles of trading and bitcoin investment this is because a newbie who's interested in either long or short term holding can't be successful without gathering sufficient knowledge on when to buy bitcoin to hold and the right time to sell to make profit.

Remember every one is advised to have a back up plan or a strong source of income before and after investing in bitcoin because you can not be guaranteed of making profit after investing in Bitcoin but having good knowledge before investing in Bitcoin and a good trading experience can make you to be profitable as a newbie in trading or as a holder.