Quote from: Sim_card on Today at 04:47:44 PM

Quote from: JayJuanGee on Today at 12:58:33 AM

One of the errors that many traders make is that trading generates income, and surely it is way better if someone is able to earn income from places other than trading and invest in bitcoin. If for some reason guys want to try to earn money by trading, that seems that it should be a side activity rather than something that they should expect to help them to build their bitcoin portfolio. It becomes even worse if a guy is expecting to trade and earn profits to invest into bitcoin and also trade and earn profits to also support their own expenses. Those are unrealistic expectations and guys frequently make mistakes to assume abilities to make profits prior to even having a track record and/or building up their own experience that might show that they might be able to make profits by trading, which gets back to the idea of whether guys are able to generate income through regular work and do they have discretionary income that they can invest into bitcoin from their work?

Even if we might assume that a guy is able to generate income from trading, the income would likely be small as the capital of the trading portfolio is building up, so it could take a long time to build up a decently sized trading capital, so the assumption that trading is better for the guy with low capital as compared with the guy with low capital is another error in thinking about how income might be generated from trading even presuming a guy learns good and safe trading techniques rather than gambling techniques that will likely end up with a lot of losing of money rather than gaining money.

One distraction when someone is into investing and trading is that, the person can later dip his hands into his bitcoin invest to use part of it to trade when he has already lose his trading capital, which is bad because he might end up trading all his that he is investing since he believes that he will be able to make profit from trading and replace back the amount of bitcoin that he collected. This is why guys need to focus more on only investing for long term and build your bitcoin portfolio overtime, because trading is a way for you to be a loser in the long run.

When a trader invests, his trading mentality can be exposed, not only does he bear the risk of trading, but he can also focus on trading shit coins which can later lead to him losing his entire investment. To avoid such a situation, if the investor stays away from trading completely, I think it is the best strategy to hold Bitcoin for the long term. This way, an investor will not be able to divert to the other side. Bitcoin is volatile, so sometimes the desire to trade here may arise, but a holder must keep away from all those things so that he is able to hold his investment with a strong hand for the long term.