#A Hard Lesson from a Friend: The Realities of Trading šš
A close friend of mine once started trading after watching someone else making consistent profits. At first, everything seemed perfect ā he was earning, excited, and hopeful. But over time, things changed. Due to lack of knowledge and proper planning, he ended up losing over 7 million.
The sad part? He never told me which platform he was using, but the biggest takeaway was this:
š Never invest blindly.
š Do your research before putting your money anywhere.
š Greed is your biggest enemy.
š You'll only earn whatās truly meant for you ā not what you chase blindly.
š Why Research Matters Before Investing
Before investing in any asset ā crypto, stocks, or others ā you must understand what you're getting into. This includes knowing how the market works, the risks involved, and what moves prices up or down.
Hereās how to protect yourself:
š Fundamental Analysis (FA)
This means studying the core value of an asset:
What does the project/token/company do?
Who is behind it?
Is it solving a real-world problem?
What's its market potential?
Example: If you're investing in a new coin, look at its whitepaper, roadmap, team, and community engagement.
š Technical Analysis (TA)
This means reading price charts to find patterns:
Support & resistance levels
Trend lines
Indicators like RSI, MACD, Moving Averages
TA helps you time your entries and exits, while FA helps you decide if itās worth investing at all.
š” Moral of the story: Trading isn't just about profit ā it's about discipline, patience, and knowledge. Donāt fall for hype or shortcuts.
Study first, invest later. š
#CryptoPatience #TradeSmart #BinanceJourney #dyor