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 according to the nature of Bitcoin.
It's 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.
Yes you are right am an inexperience trader when it come to Bitcoin investment I don't gamble or trade with my Bitcoin I can see that you are a full time Bitcoin trader, when it comes to Bitcoin investment you should have keep it for your self rather than posting it here for it can mislead some newbies who may visit this thread having an intention to invest in Bitcoin believing that trading in Bitcoin will be the best option to go but wrong. Trading is might result to great lost, for is best to invest in Bitcoin for a long time purpose with your DCA method buying Bitcoin bit by bit weekly or monthly to help your grow a good Bitcoin portfolio it Bitcoin stack.
People choose trade and end up with lose basically because they lack the skills and knowledge when it comes to trading field. For example, an investor will always go for investment meanwhile traders will go for trading so all this doesn’t matter. The only problem I get with traders or rather newly traders with zero strategy is they always want quick profit without learning first and most times they feel trading is easy compared with investing but that’s a lie, there’s this saying “what you know best will always speak for you “ meaning everyone should have the basic knowledge first before going deeply for example; bitcoin investment is program as a long term investment whereby an investor is expected to buy and hold secondly emergency funds is also needed more like a back up fund, etc. After reading different comments I think I understand, maintaining discussion is hard most times mostly when the discussion is not about trade rather holding so it’s best we try not to go off as there’s a board for trade and different kinds of discussions.
You remind me of how people learn crypto signals and still see it as the only knowledge they need to learn as a trader and from one or two tutorials on how to trade on exchanges, they assume the position of full-time traders and reach the level of taking classes for others to learn how to trade in bitcoin. I have joined one of such classes before in Telegram.
This is mostly practiced by tech influencers who jump into bitcoin trading over a week and immediately begin to teach their audience trading while only focusing on dropping signals for them. I don't know what to say to this but I think there's more to trading than dropping signals in tutorials and leading people to learn trading with out sufficient knowledge on how they could properly manage their trades or the risks included in it. I heard many of these influencers like the one I encountered do it for the contracts they probably signed with the exchange companies to promote their business. Though I am aware people live and earn by those signals. I also know crypto signals are a great way to ease trades for traders particularly the newbies learning to improve on their trading skills. but is it sustainable or good enough for the influencers to say they're now professional traders?
People choose trade and end up with lose basically because they lack the skills and knowledge when it comes to trading field. For example, an investor will always go for investment meanwhile traders will go for trading so all this doesn’t matter. The only problem I get with traders or rather newly traders with zero strategy is they always want quick profit without learning first and most times they feel trading is easy compared with investing but that’s a lie, there’s this saying “what you know best will always speak for you “ meaning everyone should have the basic knowledge first before going deeply for example; bitcoin investment is program as a long term investment whereby an investor is expected to buy and hold secondly emergency funds is also needed more like a back up fund, etc. After reading different comments I think I understand, maintaining discussion is hard most times mostly when the discussion is not about trade rather holding so it’s best we try not to go off as there’s a board for trade and different kinds of discussions.
Trading is very complex making it too challenging for profit making especially to those with shallow knowledge. Trading bitcoin offers quick profits which can attracts many individuals who might not really have the necessary skills to navigate the high level of risk involved resulting to loss. It only takes a very skillfull and good trader to profit from trading and they are very rare and only few of them can make profit out of trading. The rate of success in trading cannot be compared to that of bitcoin investment, bitcoin investment has very high rate of successful beneficials. Holding Bitcoin has generally outperformed trading due its simplicity and the effectiveness of strategy like DCA. Its important to promote long term Bitcoin investment over trading, holding Bitcoin for a long term have historically shown more consistent and reliable results compared to trading especially for those looking forward to grow their investment with minimum risk.
What makes many people to fail in trading is greed. Some traders enter into short trades with high hopes of making much profits from it through signals. Some people fail in some trades because they try to be more ambitious than even the signal providers thereby not adhering to the recommendations made by the providers in terms of make profits and stop losses. Some decide to extend trades more than the time recommended by the signal providers or quit trades before the time recommended by the signal providers.
But there's little lose in investment than in trading because when you learn how to invest properly in Bitcoin, you can always take advantage of the uptrend of the market. Employing the DCA strategy in Bitcoin can be an effective strategy to begin with because it is more stable than trading.