What your opinion?
What your opinion?
Really was having this question in mind to ask if it will advisable for somebody who want to start up trying doing online investment and chooses trade as perfect for him or her. What will be your advice for such person as a beginner into online Investment. I want to hear your opinions if it right or wrong despite it risk, so what your opinion or advise .
While someone can actually invest his money in what he does not control, perhaps what he cannot control and yet he expects a reward from it. That is called investment and in the cryptocurrency industry it could be done passively.
While in trading you need to understand what the market is talking about and as such be knowledgeable of the fundamental and technical analysis before you can trade.
As a newbie, I’ll advice that you should take out some percentage of what you want to invest with and use it to learn how to trade. If possible have a mentor, thereafter you can start trading proficiently. Also remember that you need time for this, because you might find it difficult to handle it together with your real time job if you have any.
Does the person want to trade or he wants to invest?
Investing, whilst not as complicated and risky as trading also has its own risk. You can invest while having just the basic knowledge of what you’re investing in. The same cannot be said about trading. As a trader, you have to have in-depth knowledge of whatever you’re trading, in this case, Crypto. Like I always say to folks on here, don’t just become a trader because you just need to do something or because others are making money from it (you have no idea how much they’ve lost). You have to develop a liking for it. This will help you be able to take your time and learn.
So my advice is, wanting to be a trader as a beginner is not a bad idea but you have to take it slow and learn. Since you are a beginner, learn like a beginner; from the scratch. assume you know nothing and start from the very beginning.
Trading is not the same as investment, both are risky but trading is riskier. For anyone that wants to be a trader, my advice is to never depend on it, start small and use the amount of money that is lower than the amount of money that you can afford to lose to trade. If you continue to trade, you will know which step to take depending on how trading favours you. But just like gambling, never rely on trading, although trading is not gambling.