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/biz/ - Business & Finance

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17014042 No.17014042 [Reply] [Original]

im new to all this shit but i dont understand 1 thing
how can you lose "everything" to crypto? If BTC is like 9000$, you buy it and then your goal is to sell it higher right? so you just wait till its [your desired price] and sell isnt it? Why would you sell when its under?

>> No.17014069

BUY HIGH SELL LOW

>> No.17014091

>>17014042
people trade on margin. keep away from leveraged trading and you'll be fine

>> No.17014105

>>17014091
i honestly dont understand what the fuck are you saying, sorry.

>> No.17014124

>>17014105
borrow money to trade
make bad trade
lose all money and then owe money back
thats how they lose it

>> No.17014126

>>17014105
https://www.investopedia.com/terms/b/buying-on-margin.asp

>> No.17014131

>>17014091
They take out loans to buy or sell crypto and when it goes the wrong way, they have to pay the lender.

>> No.17014154

>>17014124
>>17014131
oh yeah makes sense sorry i read a book about trading but it was in my language and i completely forgot about this part understand now
but now seriously: are people here actually that retarded that they would invest like everything they have? I want to start trading but first i want to make some money from part time job i can just use and be like "ok i dont need this money so i will try some shit"

>> No.17014167

>>17014124
>>17014131
>never traded or understand margin
you dont necessarily borrow anything to trade on leverage. you just use your btc as collateral. if you enter a 10x margin trade any move up 10% means you effectively made 100% or a 10% downard move means you lost everything you had for collaterial.

>> No.17014212

>>17014154
apparently many on this board go all in with longs/shorts at some point. If you buy an amount of bitcoin and hold it it's no problem like >>17014091 said

>> No.17014229

>>17014042
Do you live at your parents house retard?
Ever needed to liquidate your assets to pay for bills? You know, to actually live?

>> No.17014235
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17014235

>>17014167
I was trying to explain it simply to OP. I don't ever trade margin, and you definitely know better.

>> No.17014239

>>17014212
okay, so i just have to not be retarded. if i were to begin my crypto journey now, what programs should i use?

>> No.17014255

>>17014229
no, I live alone and study

>> No.17014260

>>17014154
Sometimes you'll get too aggressive and blow up your trading account. Everyone does it, you just need to learn from your mistakes.

>> No.17014269

>>17014042
Fomo causes retards to sell their coins that are bleeding into coins that are pumping. Then as soon as they sell the blood, the coin they buy bleeds. It's fucking hilarious.

>> No.17014880

>>17014269
Yes this is how normies think. Price is going up I must buy, but they were late so after they buy it dumps. Price goes down they sell. Normies don't have any imagination so they are unable to predict what will happen in the future.