Di rate way many people especially di younger ones de take rush enter crypto trading based on wetin dem de hear de very alarming. Unto say dem de find online jobs or side hustles, dem go get misleading information say crypto trading na di place to de make plenty money everyday. When dem rush enter and lose all dem funds, na dat time dem eyes go clear say no be get rich quick scheme and say trading no be for everybody.
A family friend wey know say I de into cryptocurrency call me and de ask me weda people de lose plenty money for crypto trading? I tell am say yes, but na mainly di people wey no get better knowledge and experience about how to trade. She begin to tell me how her son wey de school don squander all di money wey dem send to am for school payments, she say di son finally open up to dem say im enter crypto trading and im don lose all di money. I sympathize with her and I come explain to her say inexperienced people wey de into trading na gamble dem de do, say trading no be wetin person suppose to rush enter, you need diligent learning and mentoring by professionals.
For traders wey don gather knowledge and experience, make dem try to de tell dem family and friends wey de show interest for trading say e de hard and risky. If dem want to go ahead make dem learn am well, comot greed and emotion for trading matter, also most importantly make dem de use amounts wey dem fit to afford to loose.
Oops, a friend of mine had the same situation. He first learned trading from an online platform. And he started practicing with a daily profit of $500-1000 on a demo account. Later fall into the lure of a fraudulent cycle. And after watching some live signals he starts real trading. He made very good profits in the first few trades. But since then, he has lost almost all business. At one point he lost a large amount of money and fell into a lot of depression and anxiety. Later, we advised him to come out of his situation and take lessons again from a good mentor. Now he is learning trading again.