Im not recommending trading, I wouldnt do that any more then recommending the next horse to win a race. There is a parallel in trading and gambling I agree, but people do want to discuss the market direction and I think that is fair to discuss and whether people act with conviction to buy more or less is upto them. I agree people should be doing DCA in growth assets & I would have agreed with that strategy even before BTC was invented.
Majority of people wont be good at trading, if BTC is a bull market - it is, then there is a higher danger of missing out elevated by trading. Iam interested in trading but nobody should be betting they are correct with all their BTC, its such a volatile market that would be very difficult to achieve .
Well anybody can choose to do what they want to do but there is somuch risk in trading I wouldn't advise anybody to be interested in trading Bitcoin seeing Bitcoin as a tradable coin can be very wrong for Bitcoin is more profitable if hodl for long and not to trade in a short term perspective for there is no how you can compare those investors that held there Bitcoin for long and those that go for short term purpose for those that hold for long will be happier compare to short term traders.
You sound like an inexperienced trader. Though it's good advice if one can not handle trading, investment is less risky, so why not opt for it? Still, you do not have to discourage people, especially with Bitcoin trading which I deem to be one of the easiest assets to be traded in the financial market. But the issue with people is that they would want to trade Bitcoin in the regular way, that's off. Any margined products will always be risky, which is why one may plan the trading accornding to the nature of Bitcoin.
Its a well known fact that Bitcoin moves in season/cycle, so why not wait till a bearish season ends and buy your Bitcoin on the futures market with the right plan and management? This trade is set to be left alone for at least a year and many months. Any trader who can do this regularly will not have any reason to be sad about Bitcoin trading, it's only the short-term traders who have enough to worry about.
Your post can be misleading to newbies who wants to start their bitcoin investment to think that trading can give the profit. It is better that new investors don't go into trading because it will make you run at loss since it is very risk and complex to understand. New investors should only invest in bitcoin for long-term, using DCA to grow and build your bitcoin stash overtime.
It's you who sounds as if you never read what I wrote correctly. If you reread, you might discover I prioritised investment as less risky than trading. Even at that, trading is not entirely useless, once you know your way around it, you can make profits, unlike the way you make it look terrifying, if people can be gambling, while not trading that is even less risky.
As for misleading newbies, haven't you heard about DYOR? Trading is a choice and the advice I gave is probably good. Anyone who is new and bereft of trading knowledge or doesn't have the nerves for it should avoid it, it's never by force. Sharing a strategy that is working is not misleading to me, and if you must know, if Bitcoin has deepened very well in the wake of a bullish season, I see nothing wrong in buying it on the futures market with a liquidation targeted at a level that it will hardly reach.
For instance, in late 2022 or 2023, I see nothing wrong in buying Bitcoin with a low risk and set the liquidation price to about $5,000 while striking around $16,000. Do you think Bitcoin can reach $5,000 again? If you do, then you don't even believe in Bitcoin.
Rich people do not fold their arms without taking risks and this particular one looks good to m. I will repeat it in the next cycle while people like you continue to argue.
What is working for you will not work for everyone, if trading is the best way that you are using to double your bitcoin, there is no problem about that but one thing that I know is that it is not an ideal practice for new investors who have only the basic knowledge of bitcoin, because the last time that I checked majority of traders are running at loss and they are after little profit instead of investing for a long term goal to give their old age financial back up plan. Will you continue to trade till old age.
C'mon big up man and think on investing for a long term and grow your bitcoin investment for 4-10 years and above to be proud that you have an investment that is generating profit steadily. Trading will only give you little profit and mess with your emotions because all the time, you are thinking of the market and the price of bitcoin. Have you ever thought that what if you sell and plan to buy back, during the bear market and the price did not dip to your expectations.
You are old in the bitcoin game like you claim and whatever decisions and action that you make, you will be held responsible for it. Let new investors first start with investing in bitcoin and have a good size of bitcoin stash before they can think of shaving off profit and that will take them a very long period of time maybe 10- 20years. Investing is better than trading and very easy to practice with very low risk and this is why people should invest.
Your epistle is needless as you are complaining about what never existed, and perhaps you might want to read what @Dailyscript who actually read the post says here:
I wonder if many of you read what you replied to and most importantly the respected @JayJuanGee who just delivers merits anyhow to people like you who are even clueless about what you replied to. He can do better.
-snip-
I think you need to free this young man here as you are misunderstanding him after he had explained enough in his last quote. Trading is an option and not a must so he said. If a person chooses trading over investment then it is his own choice. At the end of the day each and everyone of us will take full responsibility of our actions. Earnonvictor never chooses trading over investment, but he explained that some persons are willing to trade because they have had some clue or idea of how things worked for them in trading. Investment on the other hand in my opinion is better because you are reducing the risk which should be what an investor should be looking towards to and not a get-rich-quick method through trading.
Currently, there has been a lot of agony from traders around me because Bitcoin has shown crazy price movements last week and this week. Which has made a lot of them lose lots of money. It still makes me wonder why people still choose to trade or is it because of the need for everyday cash flow? If so why they dont do other business with the capital used for trading.
Finally, I see a sane person here who can read and understand before posting. Many people here are just unspeakable.