Quote from: Silberman on September 30, 2024, 01:48:16 PM

Quote from: mirakal on September 30, 2024, 07:33:47 AM

I still remember when I used to trade cheap coins before, thinking that I could earn more when they hyped up. I thought buying in bulk would lead to huge profits, but it turned out to be just wishful thinking. Instead, I ended up losing money because only a few people wanted to buy them. So, I changed my style and focused on coins that aren’t just riding the hype train but are actively traded in the market. High trading volume is a solid indicator that a lot of people are using them, and that gives us a better shot at making a profit—especially if we know how to play the market right!

It is natural for traders to make that kind of mistake at the beginning of their trading careers, since in their desire to multiply their profits they take their chances with altcoins thinking this is the way to multiply their profits, however most of the time what they will get instead are an increase on their losses, since it is very difficult for any newbie trader to keep track of so many markets while making no mistake at the same time.

Yes, I would also say that it is natural for a beginner to make such a mistake because after all they still do not have much knowledge about which is more appropriate to choose and which should be avoided because it is too risky, sometimes professional traders always avoid altcoins and prefer to allocate a large amount of their money to the spot market because even though they have to wait a long time to get a significant amount of profit, it is also comparable to the risk which is not too big.

But in the end, of course, it will be a valuable lesson for beginners to know over time what to choose and what to avoid, experience will always be the best teacher, but it also depends on how serious they are in dedicating themselves to learning.