Quote from: JiiBs on September 18, 2024, 12:00:02 AM

Quote from: puloweh555 on September 16, 2024, 06:43:59 PM

Learning to trade is the most important thing, it doesn't have to be in class or have a mentor but just learn independently, especially now there is so much information that we can learn, the point is to learn. Because trading is not only difficult, but very very difficult. it takes years to learn technical analysis, risk and reward ratio, good money management, controlling emotions and greed.

I don’t agree that learning how to trade is extremely important. It’s an aspect to cryptocurrency investment and surely a way to build a portfolio but, it’s not the most important. You can do well in cryptocurrency even without having to trade I believe. Not so many in the field are traders and that’s mostly due to the high risk environment associated with trading live markets.
You could still be investing on the sidelines and be good, whatever goes for an individual I guess. In the end what’s most important is having to build your portfolio.

Had you even noticed that this thread is about bitcoin? You did not use the word bitcoin at even one place in your post.

Sure I would agree that if devolve into thinking that trading is important in regards to bitcoin, then surely there is no stopping regarding what kinds of crap you might choose to trade in order to try to squeak out short-term dollar profits.

Or would you be stacking your profits in bitcoin, presuming that you are even talking about bitcoin since you mentioned cryptocurrency which truly is not even the same thing as bitcoin, or did you mean to imply that you were talking about bitcoin, but you purposefully chose not to use the word bitcoin because you wanted to seem smarter, but it does not look good, since there should be needs to understand how bitcoin is different from shitcoins, at least in the sense that bitcoin is likely the ONLY one that really matters, and the various shitcoins are merely trying to copy bitcoin in one way or another.

Don't get me wrong, I do consider that there is actually some correlations of shitcoins and bitcoin in the sense that shitcoins are dependent on bitcoin's price performance and/or security to even be able to survive, and there is some inevitability in regards to the existence of shitcoins and the various ways that bitcoin might either be built upon or copied or even affinity scammed, and so there are almost no ways that some level of scams and snakeoil salesmen are not going to exist, yet at the same time, there should be needs for anyone claiming to know about bitcoin to attempt to understand bitcoin first in order to actually attempt to know the value in regards to investing time, energy and potentially financial value into bitcoin as compared with other places that such time, energy and financial value could be invested.., or likely more appropriately in the context of shitcoins, there would be involvement in regards to a trade rather than actually investing into any of that crap.. so if you are trading, or otherwise fucking around with various shitcoins (also known as gambling), it would likely be prudent to invest no more than 10% of the time, energey and/or value into shitcoins as compared to what you would be putting into bitcoin.

Quote from: DubemIfedigbo001 on September 18, 2024, 06:33:44 AM

Quote from: Frankolala on September 17, 2024, 06:17:48 PM

[edited out]

Well, I really think you missed my point mate, was pointing at a beginner who's mind is made up on trading, so to make sure he does the right thing first by accumulating Bitcoin first until his target is met before thinking of trading, I would introduce a mindset of accumulation as primary and trading as secondary. Just a calculated plan to get such a person to have his investment in Bitcoin first in order to secure his future. Most times while investing in Bitcoin consistently such person loses interest in trading and remain focused on his investment. This is just a mental hack to direct a new investor who previously had intention of trading that there's a better future in investment and it should be considered a priority.

If you deal with people so much, you'll know that a direct refusal sometimes triggers resistance in them, so identifying with their intentions to a limited extent makes them more comfortable and most times at the long run, they get comfortable with your Idea and forgo the wrong motive they had earlier.

I think that there are some folks who no matter what are not going to be able to control their desires to trade or gamble, and so if they cannot resist, then at least if they might be able to limit their trading to no more than 10% of the size of their bitcoin holdings at least they might be making progress in that direction, yet one of the problems with trading and/or gambling is that most of the time, they have no abilities to control themselves or to limit themselves, whether they are winning or losing the still want to end up putting more and more money into it.. so it can be quite difficult to overcome the gambling tendencies and to realize that trading/gambling is a losing game, especially as compared to how great bitcoin has been and is likely going to continue to be in the long term.. so the longer that anyone is comparing the performance of trader/gamblers versus investing into bitcoin the greater disparities and the more rare that any trader/gambler would have had been able to beat a bitcoin investor who had mostly been focusing on accumulating bitcoin through buying and otherwise holding (which means NOT selling BTC for the purpose of trying to buy back cheaper).