Seeing more of this "guaranteed way to make thousands of dollars" crap on Steemit
I almost feel like this doesn't need to be stated, because it's so bloody obvious but I guess some people must be falling for it.
Let's think it through logically...
If you have a guaranteed way to turn one dollar into a thousand, you have a guaranteed way to turn a thousand into a million and a million into a billion. Are these people Warren Buffett or George fucking Soros? No? Then they're full of shit.
If you had a trading strategy that was yielding massive profits, would you give it up for a few Steemit votes or a subscription fee? Would you teach courses so that 1000 other people do what you do, making it more difficult for you to keep using that strategy? No? You'd probably just keep trading right? I mean, you'll earn far more that way.
The best you can hope for with these people is they're using their notoriety to pump something and they might let you come along for the ride some ways, but you have no guarantee they won't dump with you left holding the bag.
This is different from trading news or someone saying such and such coin is looking cheap at the moment, that's fine but if someone's offering to teach you trading secrets for a low monthly fee, run a thousand miles in the opposite direction. Especially if it's "guaranteed".
Exactly @purpleprose These people coming with 10000% gains. In crypto everything is a pure luck. When Bitcoin was cheap there were no strategies but a depression and expecting cryptos to die out. Eventually it will happen again. Then we will have posts sell your cryptos or lose everything. Its just funny.
I don't know if I'd say pure luck, but at least 50% luck. It's like poker, it's a bit of a game of chance but some people have the extra knowledge and patience to consistently come out ahead. But I'm damn sure those who are consistently profitable on almost every position are trading and not teaching others how to trade. Unless they have an angle like pumping a coin, then the only real money the "tutors" are making is from the gullible.
Its not so binary..Some things can be guarenteed..
I'll have to respectfully disagree with you there mate, in my experience with trading absolutely nothing is guaranteed, not even cryptocurrencies as a whole.
And taking time away selling insight will never be as profitable as trading profitably, so if you're trading profitably why sell insight?
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Yup. That goes for anything, not just trading.
Thanks for sharing. followed n upvoted
You're welcome, thanks for reading.
Great post!
Of course there are no guaranteed or super-profit strategies in trading.
One basic rule is buy low-sell high in general.
But there are also some patterns and strategies regards to chart movement which are often repeated.
Wolf of wall street photo ? Loved that movie :)
I had the quote that goes something like: "I don't care if you're Warren Buffett or Jimmy Buffett no-one knows if it's gonna go up or down" in my head as I was typing so it seemed appropriate :)
Yeah I agree, there's definitely patterns of things which are very likely to happen again.
In any trading whether it is stocks/cryptos if you can be 100% sure that 51% of bets are correct bets that is sufficient to make billions :P
Since nobody can be sure about that it is all relative. My thumb rule is anybody who promises you definite returns is taking you for a ride :)
That's a good rule to have, thanks gokulnk for reading again.
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Thank you @bhightech