Quote from: Mayor of ogba on September 15, 2024, 05:47:53 PM

Quote from: Egii Nna on August 18, 2024, 08:41:49 PM

One thing I believe in this life is that whatever you believe in that is how you will view it, so to me, if you can view a trader as someone who has not been patient, I won’t see anything wrong with it, and me supporting trading doesn’t still mean that I don’t invest in bitcoin. All I want people to understand is that the main reason why they see trading this hard is because it has a higher risk than investment because I have tested both and I know how it feels.

I will never advise anyone to adopt trading bitcoin for short-term profit because I know how risky and the emotional damage that comes with trading bitcoin for short-term profit, and sometimes your money can get stuck, and if you fail to hold your bitcoin for the price to go high again, you will sell it at a loss. Trading requires a high level of knowledge that will help you to master it, which can take you so many months to learn, and you also need to be able to determine if there will be news that will affect the price of bitcoin so that you will know when to buy bitcoin. Since trading bitcoin for short-term profit is difficult, it is better to put the energy into accumulating bitcoin for a long-term purpose and also save yourself from the stress that comes with trading.

Whether trading for short term or long term I can't advise anyone to dive into it because the outcome is not certain or guarantee. But I believe most people who are into trading is/are ready to face anything that will come up during their period of trading and these set of people are determined and most use what they can afford to lose but there are also people who has only inclined their mind on the profit they are going to make without a thought that, what if it doesn't go as planned because the market is not our own we can't control it and this mentality of only thinking about the profit has rendered most traders uselessness and some are in a place of regretion. If one doesn't want to go into investment and prefer trading they should note the following;

1. Trade with what you can afford to lose
2. The market is not a respecter of person ( it doesn't look if you really need money or not)
3. The risk is 50/50, if not more than the chance of making profit
4. Don't be carried away by the market movement whether down or uptrend etc.