Investments fail painfully, when buying ddi the price is high and the market starts to crash so the price drops to earth and we are forced to sell the coin because there is no other way.
This is the fault of novice traders, myself included.
Long-term investment is useful for people who have more funds. Because the funds for investment do not interfere with the need for money in everyday life.
From the point of view of a failure, the risk of trading crypto is higher than investing in other fields.
In addition, a market that does not support new traders makes investing in crypto even more difficult. Profit can not be achieved apart from waiting for the right time.
Crypto trading should be faced with strong capital and knowledge of that market. Otherwise, new traders bide their time to crumble and fail.
So far, new traders have only seen conversations on twitter and telegram. That's natural because reading the market from crypto is not easy.
The crypto market is more difficult than the stock exchange. So, is there another way to profit here? We just bide our time and keep longer than the time it takes to trade.
Selling Money To Failure
New traders who follow the trend of crypto trading have no capital other than money to eat. So that new traders add to the burden of life by reducing their monthly income to buy crypto.
The problem is, new traders don't have the knowledge that makes them lose and lose again.
Capital for investment does not have to use the money you receive from the office, not all that money. However, we can save a little money to own crypto.
My mistake was to take money that already has a place for it but I diverted some of that money in the market away from crypto.
You can guess my failure, there were several occasions where I lost and was forced to wait longer to sell.
The market doesn't force us to play. We must control ourselves to choose the right time to buy crypto, hold and sell some and some to invest in other cryptocurrencies.
My friend advised me to save $50 every month into an exchange wallet. That is the initial capital that must be tried.
Or, Some say that I just need time to wait by depositing $25 every month and that is a fair value for saving in crypto.
Spending Crypto Savings
Another failure of novice traders is spending all the crypto. I can't move steem and hive from their platform to wallet. So I left the platform and waited for a face-to-face consultation with my friend who was successful there.
However, the Bitcoin Cash I received on read.cash is gone, gone, nothing left. Because I used all that bitcoin cash to help my life due to the global impact of the covid-19 pandemic. If I could keep the Bitcoin Cash, I might still have a chance for other investments.
Some of my friends already have more savings apart from read.cash. They find other ways to add bitcoin cash from NFT or other programs. Meanwhile I can not use the office computer to follow their way.
Therefore, never spend all the bitcoin cash you receive. Remember that the bitcoin cash you have is a long-term asset and a very good investment in the future. Save that bitcoin cash and find another way to solve your financial problems.
In the early days here, I received $100 every month. I should have kept it and I'd be making $100 for the year. It's all gone and I'm sorry.
Again, don't throw away all that bitcoin cash. Stay afloat in a tough life and keep every Bitcoin Cash in the wallet.
Not studying is the key to stupidity
Newbie traders who refuse to learn about trading strategies in the crypto market, like myself, are traders who are setting themselves up for hell.
Crypto trading, although different from stocks, has almost the same value for trading crypto assets and stocks.
I don't know how yet but I have bought crypto. It's only right that I'm a stupid new merchant. My mistake in buying crypto was a personal one. I'm losing assets bit by bit due to the exchange rate that doesn't match.
I don't read any of those cryptos either. I have a friend who buys crypto at a very low price. Then they wait for time to sell. But it takes a long time like two or three months. Whereas I already lost the coin when the price was good.
So, novice traders like me have to learn to be patient in learning about potential cryptocurrencies.
Another stupidity is that I use the salary from the office for investment. When I needed the money, I sold the coins at a disadvantage.
There is no fool more stupid than myself in this office. The main formula in the market is don't sell if the selling price makes you lose. I was selling crypto at a time when I found out I was bound to lose, stupid me.
Wow this is cool.