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  • #16
    This whole crypto-currency fever is really going to attract all manner of scams as the Forex market has before it.
    Listen: If you had plenty of bitcoin and sold it at it's peak - bully for you. We will probably not see another huge bubble like this for a long time.

    Anyone trying to get into it now: too late. What's left of the crypto market has now deteriorated into Forex market scams. You can't mine bitcoin or other crypto currencies without expensive computer equipment now - so that's out. All you can do is open an account with a broker and attempt to spot-trade -- which is about as hard as trading spot Forex and possibly even harder given that there's no fundamental news that crypto operates from at a macro level. It is you versus everyone else and the brokers who can manipulate the market - as it is COMPLETELY unregulated.

    Much like forex there will be all kinds of ridiculous crypto scams out there to suck you in. People claiming that they have crypto trading training programs - that don't work. People selling expert advisor software - that don't work. If it looks like a scam, it probably is.
    The market will be full of such stuff and getting genuinely useful information out of it will be as hard as the actual trading itself if not worse.

    Don't let me stop you trying to figure the market out. It is possible. However the likelihood of you getting rich by trading it - EVEN IF YOU KNOW WHAT YOU ARE DOING - is about as slim as you being a top-seed in World Tennis rankings. Wildly rich and profitable traders are like elite athletes.

    The maths is heavily against you if you're trying to build a trading account. You can spend months building up an account and let it get wiped out with a single stupid trade. Happens all the time. Are you ready for that level of frustration?

    If you're coming into this without even knowing how to trade and how to read those charts to understand the market - you're trying to play tennis with a toothpick instead of a racquet against Rafael Nadal. Good Luck. You will need it.


    • #17
      Originally posted by Neo-Rio View Post
      Much like forex there will be all kinds of ridiculous crypto scams out there to suck you in.

      How it's done:

      (and BTW, when you upvote that article, the author gets some Steem cryptocurrency. Resistance is futile . . . you will be assimilated . . . )