Quote from: I_Anime on July 27, 2024, 07:22:30 PM

Quote from: JayJuanGee on July 27, 2024, 07:31:23 AM

Quote from: Odohu on July 26, 2024, 09:39:15 PM

Quote from: GeorgeJohn on July 26, 2024, 06:25:59 PM

Quote from: Sexylizzy2813 on July 26, 2024, 12:50:38 AM

At the same time some of these mentors especially those one on YouTube that only want their videos to be the best, they don't speak much about losses only how to make profit and you'd agree with me that many who only think of getting more profit are those who uses their imagination to start up trading, they just picture themselves to be at the top above every other starter.
I think getting someone like a mentor shouldn't be a problem but the issue is how good is the mentor because everyone needs to be careful not to be in the losing side of trading, not everyone we call mentor has what it takes to guide someone to the right direction.

the is that is good to have a mentor in anything that has to cryptocurrency both trading and investment, and that mentor should be someone you know and can access at any point in time, so I believe that we have to understand that investment is quite different from trading because you may not bother to learn and master ways of buying and selling of cryptocurrency kind of investment and you may have or experience a profit, but in trading you have to acquire the knowledge before you can excel in trading, and trading need for you to have a mentor that's well known.

When I was still pursuing a career in trading, even mentors will send a disclaimer that they are only giving you information with no guarantee that the information will work, and that the bulk of the job is in you finding what works for you. Some that are honest will tell you that until you personalise the information they are sharing, then you cannot make good use of them. This then mean that mentorship is good for many things but for trading, even your mentor will be struggling to make profits but will use paper trading for examples and will never want to trade live market with you because he understands its a different thing all together.

Like I said before, demo trading is easy and everyone is usually a champion is demo which is in hindsight but when it comes to trading live market, even the mentors will hide for the sake of their reputation because Bitcoin will always mess them up when they try to predict the price movement with certainty.

I have tried many things when it concern trading including using different mentors. When the chips are down, you will realise it is only you and the market.

Trading is just too subjective and this is the reason it is difficult to scale through and the reason I choose another route which in buying and holding for long term.

I agree with everything in your post Odohu, which largely it is difficult to find your right balance when it comes to trading, and so whether you end up trading and/or investing, you need to figure out your right balance, so in that regard, I believe that using your actual money is better than demo trading.. so any of us should be able to figure out some kind of balance in terms of how much we trade or how much we invest in which we are not nervous about whether we win or lose, so in that regard, if you are nervous about it, then you are likely trading/investing too much.

In other words, I would suggest to practice with real money rather than fake money, even if your budget might start with just $100.. and so there is likely some need to have real money at stake in order to really learn, but you do not need to use a lot of money to learn, but it should be an amount that you are willing to learn, whether you consider yourself to be merely practicing or investing for the long term with real desires to make money and/or to increase your future options in life.

That`s right is better to learn with real money than demo account when it comes to trading , but make sure the money you are using is something you can afford to lose. Most people believe after using demo account to learn all they need to become successful in trading they are good to go, but they always forget one thing that there`s a big different when real money is on the line , that`s where emotions management usually comes out . Because is one of the most common challenge traders do face , not being able to manage your emotions, but when you take your time and learn with real money you will be able to handle somethings easily while trading.

But still either you a trader or an investor aslong you are in this space it is always advisable to have some nice bitcoin stashes in your portfolio in order to partake in this wonderful adventure in bitcoin investment.

Yes, when a trader trades with real money, he will know the nature of market conditions. A trader will know directly about the nature of prices and how the market works. When a trader makes real trades both fear and greed as well as having metal stress those play a special role for the trader to be efficient. A trader can be confident about what action to take in emotional areas.

If a trader is trading live then he will have to focus on getting to know the market which is not possible with a demo account. Moreover, a trader can gain proper knowledge about risk taking which is not possible to learn in demo trading as there is no fear of loss.

Although an investor collects bitcoins with a small amount of money and monitors it regularly, he can also learn about bitcoins in addition to real trading knowledge, which can further encourage him to buy bitcoins.