Community post
Day Trading is a TRAP (Beginner Guide 3)
Out of all the people I've met in crypto, I only know 3 that can make money "day trading"... Everyone else is at a net loss, me included - that's why I don't day trade anymore.
Statistically speaking, OVER 90% of traders lose money. If you are new to crypto stay away from trading, it's a trap - anybody telling you otherwise is either trying to sell you something or giving you a referral link.
Unless you are ready to become a human robot and dedicate months/years to becoming an expert, you're just giving free money to whales/exchanges/experts.
Simply put:
Day trading = gambling
But I talk about it in more detail in the video.
Thanks for watching!
▶️ 3Speak
Replies (7)
There is no way to get rich fast from trading, you need to do it slow and safe set SL and TP at 3-4% and that it
The main problem is that when people are in profit they just went more and more and not taking the money and close the position and when people are losing they not wait to the market to cover and close it in lost or losing everything
Limits it's the only key I know
And yes I lost myself some money every time I tried
It is a matter of choice if you want to make money from trading in the crypto world we are now.everyone has its own platform to follow
I think what gets a lot of people who trade is that they hear of others making a ton of money trading and get hyped up thinking they can do it to. So they buy a book on trading and watch a few videos and suddenly they think they're an expert. But they dont realize that, especially in crypto which is a mostly an unregulated market full of market manipulation, those technical analysis tactics that were built for the stock market, don't work for crypto - at least not consistently. Smarter people are always trying to trick you out of your money.
Thanks for this video.
In a real way! I don’t mess with that part of it anymore. There’s better skills to spend time developing that you can see better returns on.
But yeah y’all don’t fall for the trap!!!
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Long term hodl is the key for success. That is why I love steem because it makes sense to hodl this coin. We get incentivize and earn
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