As a beginner, stay away from trading and focus more on holding Bitcoin

[taufik123]

-snip-
What I want to say is that Bitcoin cannot change the mindset of people who have been instrumentalized to such an extent that they only believe what their government says through the mainstream media.

As it has been brainwashed, given the mindset that Bitcoin is not something special and cannot compete.
The government only recognizes instruments that they can fully regulate, not like Bitcoin which they cannot regulate despite implementing some strict regulations.

[Dr.Bitcoin_Strange]

I don't know if such topic already exists, but since this is my first thread here on altcointalk forum, I will like to make this as a warning and a reminder to all newbies, don't go into cryptocurrency trading simply because you see someone close to you making profits from trading.

Going into trading without adequate knowledge will increase your chances of losing your money' by 10x because at that stage, you are prone to emotions a d greed, so wait until you increase in knowledge and rank before venturing into trading to safe yourself from possible unrecoverable loses.

Trading is a work that every person must have spent some time on it and most of them left it due to lack of knowledge and lots of loss. Without knowledge of exchanges, volume, candles, charts, charts are not that necessary only the knowledge of fundamental factors of the coin can give a newbie some help to start with. Most of the people are following other trading influencers and some are copy trading.

Trading as you may know can be a vying and formidable arena particularly to newbies. Trading has attracted many people, but the high and prevalent Turnover rate suggests that many people attempt it only to quit after losing a lot of money. Even if a trader understands and applies some basic technical elements such as charts, candles sticks, and volume, he or she needs to know some fundamentals about the particular coin or asset. Newbies can use various fundamentals to help explain what influences the value of the particular coin, for example, the purposes for which the coin is used, investors' sentiments towards it, its usage rates, etc. Also, most people use signal services and many people are copying their favorite traders which can be boring if not well managed. The second major factor that may shape trading is education or lack of it along with the understanding of the markets.

[jeraldskie11]

I don't know if such topic already exists, but since this is my first thread here on altcointalk forum, I will like to make this as a warning and a reminder to all newbies, don't go into cryptocurrency trading simply because you see someone close to you making profits from trading.

Going into trading without adequate knowledge will increase your chances of losing your money' by 10x because at that stage, you are prone to emotions a d greed, so wait until you increase in knowledge and rank before venturing into trading to safe yourself from possible unrecoverable loses.

Trading is a work that every person must have spent some time on it and most of them left it due to lack of knowledge and lots of loss. Without knowledge of exchanges, volume, candles, charts, charts are not that necessary only the knowledge of fundamental factors of the coin can give a newbie some help to start with. Most of the people are following other trading influencers and some are copy trading.

Trading as you may know can be a vying and formidable arena particularly to newbies. Trading has attracted many people, but the high and prevalent Turnover rate suggests that many people attempt it only to quit after losing a lot of money. Even if a trader understands and applies some basic technical elements such as charts, candles sticks, and volume, he or she needs to know some fundamentals about the particular coin or asset. Newbies can use various fundamentals to help explain what influences the value of the particular coin, for example, the purposes for which the coin is used, investors' sentiments towards it, its usage rates, etc. Also, most people use signal services and many people are copying their favorite traders which can be boring if not well managed. The second major factor that may shape trading is education or lack of it along with the understanding of the markets.

To become successful in trading, we should not only rely our trades with analysis, it's better to also combine it with fundamental as it contribute the probability of your trades. And this what newbies lack of, they believe that what they learned from others about the strategy is what they really need to be a successful trader. Sometimes they think that it's easy money which can be caused for them to quit. This is what you really need to aware of if you are a newbie.

[JunaidAzizi]

To become successful in trading, we should not only rely our trades with analysis, it's better to also combine it with fundamental as it contribute the probability of your trades. And this what newbies lack of, they believe that what they learned from others about the strategy is what they really need to be a successful trader. Sometimes they think that it's easy money which can be caused for them to quit. This is what you really need to aware of if you are a newbie.

Yes, a newbie needs to focus more on the fundamentals for the sake of better understanding and being aware of the news. Newbies often follow only a single path and strategy, which can be their biggest mistake. Sometimes market behavior changes, and to overcome this, they need to apply another strategy. However, due to a lack of flexibility and over-reliance on analysis, they fall behind.

My suggestion is to analyze the market, focus on the related news, and then choose your strategy accordingly. By doing this, they will improve themselves.

[bayu7adi]

Yes, a newbie needs to focus more on the fundamentals for the sake of better understanding and being aware of the news. Newbies often follow only a single path and strategy, which can be their biggest mistake. Sometimes market behavior changes, and to overcome this, they need to apply another strategy. However, due to a lack of flexibility and over-reliance on analysis, they fall behind.

My suggestion is to analyze the market, focus on the related news, and then choose your strategy accordingly. By doing this, they will improve themselves.

Beginners with a lot of money, even rich people, may have different views regarding holding and trading... sometimes beginners in the world of trading also have to learn technical analysis for short-term trading needs... I myself cannot recommend holding for people who have more free time, because it would be a shame if that free time is not used for positive activities such as learning to trade or learning about other cryptocurrencies...

the opportunities are the same, trading and holding both have the potential to make money, but the style is different... and it is also adjusted to each individual's investment style...

[KingsDen]

@Op, you even need to include in your topic that trading is not compulsory and not for everyone. It is not the only way to make money in the cryptocurrency industry. Everyone must not trade

-snip-
What I want to say is that Bitcoin cannot change the mindset of people who have been instrumentalized to such an extent that they only believe what their government says through the mainstream media.

As it has been brainwashed, given the mindset that Bitcoin is not something special and cannot compete.
The government only recognizes instruments that they can fully regulate, not like Bitcoin which they cannot regulate despite implementing some strict regulations.

Since 2021, I have an uncle who is learned but he keeps insisting that bitcoin is not money and cannot be money in any country. He said it is only the government that has the mandate to print money and all monies must have a tangible form before it is digital. He said we are all jokers by following one small boy that created a code and called it money. LOL

[Agbe]

You don't have to tell them to stop trading because they are newcomers but you can only tell them not to be greedy and other advises because they have to learn and for them to learn with practical they have t trade. Losing is part of trading and that can make.thrm to learn fast. At least it is not bad if they use small amount to trade. One must start from somewhere. And the basic knowledge is needed to trade.

[lepbagong]

You don't have to tell them to stop trading because they are newcomers but you can only tell them not to be greedy and other advises because they have to learn and for them to learn with practical they have t trade. Losing is part of trading and that can make.thrm to learn fast. At least it is not bad if they use small amount to trade. One must start from somewhere. And the basic knowledge is needed to trade.

Agree with what you said, that if they experience a loss in trading, it is something that is also the most important lesson, so they will not repeat what they have done, because that action will make an impression and will continue to be remembered.
Providing education about not trading in the early stages is certainly very good, so that they want to learn first so they can understand it properly, but if they force themselves, of course they can do it, but in small portions, first until they can find the formula and then improve it.

[Makus]

You don't have to tell them to stop trading because they are newcomers but you can only tell them not to be greedy and other advises because they have to learn and for them to learn with practical they have t trade. Losing is part of trading and that can make.thrm to learn fast. At least it is not bad if they use small amount to trade. One must start from somewhere. And the basic knowledge is needed to trade.

Agree with what you said, that if they experience a loss in trading, it is something that is also the most important lesson, so they will not repeat what they have done, because that action will make an impression and will continue to be remembered.
Providing education about not trading in the early stages is certainly very good, so that they want to learn first so they can understand it properly, but if they force themselves, of course they can do it, but in small portions, first until they can find the formula and then improve it.

Some persons can be motivational at times, even with a series of loss I their trading they can still manage to convince themselves that they are in the right track and their break through is near . Some newbies can be very funny with their actions, and if they did not see any great improvement they will eventually come to a general conclusion that cryptocurrency is a scam, meanwhile they failed to pass through the learning process and apply patient. Crypto is not a get rich quick scheme and if you must make it in the market, then you must exercise patience

[Aanuoluwatofunmi]

OP is making this as an advise in other to let the newbies understand what is expected from them, when one is starting on something, you don't go big all of a sudden at once, instead, you maintain a steady move closely till you have attained an irresistible stage on that over growth, trading could cause a loss of money while when they hold, they have nothing to lose that waiting till the market begins to pump.

[Gurujebs]

As it has been brainwashed, given the mindset that Bitcoin is not something special and cannot compete.
The government only recognizes instruments that they can fully regulate, not like Bitcoin which they cannot regulate despite implementing some strict regulations.

You are going to be surprised that the government officials, the ones that passed the law and the ones that enforced the law all have Bitcoin but they are been afraid of the majority. They play two sided game, they will codedly buy Bitcoin and keep with expectations in mind that Bitcoin community will do there things in the bull run and sell but he will be among them saying Bitcoin is it good for the people.

If fairness and choice is allowed by some people that are working for the government to pick between Bitcoin and government financial instruments, many of them will choose Bitcoin before they choose others but they are scared to do it in public, they don't want to jeopardize their source of income from the government.

[Gposas]

Comprehensively looking at trading, we all know it's a risk even to those that might have even gotten the knowledge on crypto trading. As a trader you are proned to experience gain and loss no matter how smart you may be, but the bottom line of becoming a trader is the ability to reduce loss and maximize profit.
I 100% agree with your advice to newbies, because investment is more profit oriented that trading, though it takes longer time.
When I started crypto as a newbie, I dived into crypto trading without adequate knowledge, at first it seemed easy because I was trading on spot and margin, and I was making some gains until the unfaithful day that market turned me down.
I had to close all trading account and fully go and learn about crypto trading, how to read candles and all necessary information before I reopened those accounts because I made a very huge loss.
So as a newbie, it is most safer to invest than to trade.
Though it gave me an experience that's very useful to my trading life.

[Sim_card]

-snip-
What I want to say is that Bitcoin cannot change the mindset of people who have been instrumentalized to such an extent that they only believe what their government says through the mainstream media.

As it has been brainwashed, given the mindset that Bitcoin is not something special and cannot compete.
The government only recognizes instruments that they can fully regulate, not like Bitcoin which they cannot regulate despite implementing some strict regulations.

Those set of people will end up being slaves to their government because they should have their own head to think and make their decisions instead of the government telling them their left from their right. I don't listen to whatever my government says about bitcoin because I know that they will always criticize it since it is not from them and they cannot control it. Whatever that the government cannot control is bad to them and they hate it.

[Dr.Bitcoin_Strange]

-snip-
What I want to say is that Bitcoin cannot change the mindset of people who have been instrumentalized to such an extent that they only believe what their government says through the mainstream media.

As it has been brainwashed, given the mindset that Bitcoin is not something special and cannot compete.
The government only recognizes instruments that they can fully regulate, not like Bitcoin which they cannot regulate despite implementing some strict regulations.

Those set of people will end up being slaves to their government because they should have their own head to think and make their decisions instead of the government telling them their left from their right. I don't listen to whatever my government says about bitcoin because I know that they will always criticize it since it is not from them and they cannot control it. Whatever that the government cannot control is bad to them and they hate it.

When it concerns the government and any new technology disrupting the status quo, the preconception checklist needs to be taken seriously.

Authorities typically hold a bias towards preservation and management of the existing order, thus developing a phobia toward unpredictable change and becoming suspicious and sometimes even hostile toward the decentralized infrastructure such as Bitcoin. The opportunity to think for ourselves and make our decisions means free from oppressive control and making a society more empowered.

It is quite intriguing to know more about your stance concerning Bitcoin particularly because it cuts across sovereignty power and liberty. By choosing to know and decide for yourself, you are taking your freedom, and by doing that you are helping the community to foster into a stronger, informed one.

[taufik123]

Since 2021, I have an uncle who is learned but he keeps insisting that bitcoin is not money and cannot be money in any country. He said it is only the government that has the mandate to print money and all monies must have a tangible form before it is digital. He said we are all jokers by following one small boy that created a code and called it money. LOL

So many people like your uncle in the past, even where I live and see them now hate bitcoin even more because of its incredible price.
Actually, such people are people who do not understand how modern technology works and they only follow the system that has been set up by the government.
Or even they are more interested in the Multi Level business by looking for many members with great profits that are promised.

and your uncle may now be too prestigious to admit that bitcoin is an amazing digital currency and is even recognized by the government.
Your uncle feels sorry but won't say it for the sake of self-esteem. LOL.