Quote from: Mr.right85 on Today at 01:37:58 PM

Quote from: Zaguru12 on August 10, 2024, 10:56:19 PM

Quote from: JayJuanGee on August 10, 2024, 06:12:03 PM

There are some folks who don't have any other source of income, so they have to live off their trades, and even if they can figure out ways to be profitable, it becomes even more difficult if anyone believes that they are going to live off of their trades - and especially if they don't even have a lot of capital with which to work.

In as much as I don’t agree with some things about traders that you said I will say this is spot on, I have always been an advocate that should you be a trader today and putting in efforts to get the knowledge of trading like technical analysis and fundamentals with others i will say apply same energy to getting large amounts of funds to trade, people will say once you have risk management you can start with little capital, yes i can’t debunk that claim but over many times it is usually hard to grow the kind to any substantial amount. The traders with even more funds to trade or spare easily have better trading plan like holding trade during loss or allowing to hit the TP than those who have little funds. So even extra source of income is definitely needed rather than been a full blown daily trader.

All these really do come into play but, it’s hard to imagine that these beginner traders or low capital traders aren’t doing enough to generate needed funds.
The need to generate these funds has been some of the means by which, people run into trouble of seeking out investors to fund them with needed capitals to trade with and eventually, they loss this money due to lack of experience.

You might be able to manage risk on a personal term but, when your trading with funds that aren’t yours, the risk is elevated with the need to succeed at all cost so as to fulfill set goals and promises.

Investing in bitcoin with DCA method regularly and hodli for long-term should be the major focus of a new beginner and not not trading because even if you have a big capital to start trading, it is not a guarantee that you will make profit since trading is too complex and needs good knowledge which a beginner cannot have within a short period of time. Professional traders can still run at loss and lose all the profit that they have made in a single trade is the market turns against them.

This is why a new beginner needs to start investing in bitcoin and grow his bitcoin portfolio gradually using the DCA strategy by using the right amount from his disposal income to buy bitcoin always constantly every week or month for 4-10 years and above so that he will not think of any loss provided he is buying and hodli for a long period of time because the longer your bitcoin investment, the lesser the risk of running at loss will be. It is only when a new investor in bitcoin did not have a proper plan on investing in bitcoin on a long-term that he can run at loss due to some of his own mistakes.