Are You Sticking to Your Plan or Has Life Made You Pause or Modify It? - page 4.

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Quote from: dezoel on November 06, 2023, 10:01:39 PM

Quote from: GxSTxV on November 06, 2023, 02:58:34 AM

Unfortunately, nothing goes always as planned not only in investing but our whole life we receive news or things that will always make us change our plans, for example this year I was saving and investing in Bitcoin. Until I receive a new university acceptation that requires paying the full first part before getting started, So I had to use almost all my Bitcoin and sell it at a cheaper price than what it is now.
It’s so unfortunate but also you can’t do anything else, but worth to say that I didn’t give up and still saving on every chance and still believe just like any other time in my plan, as you said it’s only a pause and than you continue your road by sticking to your plan.

This is the reason why it's important to always have some emergency funds kept aside for such situations apart from your investments in Bitcoin and other financial markets where you know you might not be able to sell your assets with profit when you require funds but you might be compelled to do that since you need money. Since you will have some emergency funds saved for such situations, you will have the option to use those funds instead of selling your assets at a loss or before the price that you originally planned to sell them for.

When you are saving for your investments, try to save some money for emergencies as well and keep it separate and keep it fiat so that you don't have to worry about selling and using them no matter how the condition of the market is, and you wouldn't have to sell your Bitcoin holdings for the sake of paying money for the emergency you are facing.

Before saving money with the intention to invest it, it is imperative to save money and create an emergency fund that could last you at least for a few months, as the number of emergencies that you may need to face are countless, and most of them will require some extra money in order to overcome them as quickly as possible.

Now someone may refuse to create such fund and try to get away with it, and I would think many will succeed on this endeavor, but there are many other people that will fail at this, and when that happens they will be forced to sell their assets for a low price and lose way more money than what they could have lost if they simply created that emergency fund.

dezoel

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Quote from: GxSTxV on November 06, 2023, 02:58:34 AM

Unfortunately, nothing goes always as planned not only in investing but our whole life we receive news or things that will always make us change our plans, for example this year I was saving and investing in Bitcoin. Until I receive a new university acceptation that requires paying the full first part before getting started, So I had to use almost all my Bitcoin and sell it at a cheaper price than what it is now.
It’s so unfortunate but also you can’t do anything else, but worth to say that I didn’t give up and still saving on every chance and still believe just like any other time in my plan, as you said it’s only a pause and than you continue your road by sticking to your plan.

This is the reason why it's important to always have some emergency funds kept aside for such situations apart from your investments in Bitcoin and other financial markets where you know you might not be able to sell your assets with profit when you require funds but you might be compelled to do that since you need money. Since you will have some emergency funds saved for such situations, you will have the option to use those funds instead of selling your assets at a loss or before the price that you originally planned to sell them for.

When you are saving for your investments, try to save some money for emergencies as well and keep it separate and keep it fiat so that you don't have to worry about selling and using them no matter how the condition of the market is, and you wouldn't have to sell your Bitcoin holdings for the sake of paying money for the emergency you are facing.

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Quote from: alastantiger on November 02, 2023, 10:57:59 AM

We often advise newcomers asking about successful Bitcoin investment strategies to have a well-structured plan and stick to it no matter what. Nevertheless if there is anything I have learned is that in bitcoin investment it is rarely a linear journey. And despite our best intentions and meticulous planning, unforeseen circumstances can disrupt our initial plans. For the community I want to know, has your investment plan always unfolded as expected or have unexpected events caused you to pause or modify your plan? Despite our best efforts there are instances where sticking rigorously to a plan becomes challenging due to the unpredictable nature of life.

Slow and steady wins the race for me. I've tried many different things over the years and have got to the point where I'm happy to build up a portfolio, brick by brick, over a long time period without trying to quadruple my money overnight like some people like to chase. There is a small group that will get lucky in many business related activities and get rich from it, however the majority will fail following that sort of high risk strategy. My advice would be to find a sensible middle ground where you cannot eliminate all risk, but try to quantify it and find a good trade off for decent returns on your money. The main thing is making sure any money you do accumulate is working well for you.

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Quote from: tranthidung on November 02, 2023, 11:07:57 AM

Only invest what you afford to lose.

Yes exactly your points are well for success as some people want to become rich in a second and they think that if they invest large amount they will easily get maximum profit but they should also not forget that this large amount is hazardous for them. Keep check on your salary and invest only a minimum amount so if market does not help you in getting profit then you will not be distress about recovering as recovery of small amount is not so hard.

Quote from: tranthidung on November 02, 2023, 11:07:57 AM

Invest with your money, don't borrow.

Taking loan is also a bad idea therefore one should not maximise his loss because if burrowed money reduces in price then a person will face double loss as one is reductions in invested money and other is that returning burrowed money to the owner will become difficult. Always utilise your own money if you have and if you have no sum for investment then wait until you save money because burrowing money from others can be treacherous for you.

Quote from: tranthidung on November 02, 2023, 11:07:57 AM

Always have savings for emergency. This is what you are asking if I understand your post well. A fund part reserved for emergency is to make sure you will have enough money to use, when your investment is in a bad status such as Bitcoin is in a bear market that usually lasts two or three years

Emergency fund is necessary for a condition where you will need money for emergency and if you don't have any emergency fund you will surely use money by selling your asset so may be at that time market gives you loss due to reduced value therefore keep your invested amount save and save another portion of money as an emergency budget.

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Quote from: alastantiger on November 02, 2023, 10:57:59 AM

And despite our best intentions and meticulous planning, unforeseen circumstances can disrupt our initial plans. For the community I want to know, has your investment plan always unfolded as expected or have unexpected events caused you to pause or modify your plan?

When you properly plan yourself before you start your bitcoin journey, then things will work out well. Some people do have to modify themselves due to poor planning and some unforeseen circumstances, but I have been investing in bitcoin for few years, and up until now there has been no change in my investment strategy. I am still holding my bitcoin for a long period of time, and I don't have any plans to sell any of my bitcoin for now.

Some of the reasons why I believe some people change their plans after investing in bitcoin are lack of proper knowledge. Some people don't have proper knowledge about what bitcoin is really about, they just jump into bitcoin investments because they see people making money from bitcoin, which is very wrong.

Some people do end up investing all the money they have in bitcoin, and some people do end up selling their properties just because they want to invest in bitcoin, which is not supposed to be. If you invest all your money and issues arise, how will you be able to solve those problems? Things like this are one of the reasons why some people do end up selling back their bitcoin after investing initially. You need to have some funds aside from your bitcoin investment if you are planning to hold it for the long term.

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Quote from: alastantiger on November 02, 2023, 10:57:59 AM

For the community I want to know, has your investment plan always unfolded as expected or have unexpected events caused you to pause or modify your plan? Despite our best efforts there are instances where sticking rigorously to a plan becomes challenging due to the unpredictable nature of life.

Since the beginning of my Bitcoin journey, my plans have changed occasionally, although I never gave up the idea of holding the largest portion of BTC funds thinking on long run. What changes is the measurement of this long run: is it going to be for an undetermined period of time, for 10, 20 years or just until the next ATH? And actually, that is normal to change our plans, because daily events, needs and challenges shape our goals and expections regards the future.

I believe it's a virtue to be a malleable person who adapts himself on the different situations life is constantly presenting. That is not only a virtue, but a matter of survival: those who aren't able to adapt themselves are doomed to extinction. That is the natural law of life.

tjtonmoy

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I always recommend having two separate account. One is for saving and another is for investment. That way you don't mix up your investment with savings. But life is unpredictable and we are often presented with situations that could cost more than we have saved. Maybe you are just starting to save for the future and invest at the same time, but certain events could happen which can cost you a lot and your savings can't cover it. Despite your best effort, you are left with less money than needed.

Situation like this have come in our lives at least one time. You invest for your future so I don't think there is anything wrong using that investment to cover up the need. It's all about doing little adjustment based on the situation and move on with life. You can always make back what you use from the investment, but life is precious. Sticking to the plan doesn't mean you should risk your life. If you are not there to enjoy the profit from your investment in the future, then what's the point of it?

If you are faced with an extreme situation, there's nothing wrong to modify your plan. Be happy and enjoy your life.

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Quote from: tranthidung on November 02, 2023, 11:07:57 AM

Quote from: alastantiger on November 02, 2023, 10:57:59 AM

We often advise newcomers asking about successful Bitcoin investment strategies to have a well-structured plan and stick to it no matter what.

For the community I want to know, has your investment plan always unfolded as expected or have unexpected events caused you to pause or modify your plan?

Life is unpredictable but should the solid investment advice must has some following points?

Only invest what you afford to lose.
Invest with your money, don't borrow.
Always have savings for emergency. This is what you are asking if I understand your post well. A fund part reserved for emergency is to make sure you will have enough money to use, when your investment is in a bad status such as Bitcoin is in a bear market that usually lasts two or three years

This is ideal but as we all know, we have different circumstances especially financially. Perhaps you have an extra money today which allowed you to invest then a sudden emergency happened which made you choose whether to keep your investment and suffer or pull it out to aid the situation. Thus for me, it is okay to sometimes make adjustments and what would matter is your action after that; to continue and restart or to stop and move on. We all have the drive to have more money and we should all be persistent no matter what. Some investors in this industry have moved to other field of investment but that’s totally fine. What matters would be the goal we all have.

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Quote from: uswa56 on November 06, 2023, 09:25:19 AM

If initially we have prepared well for investment, this does not mean that the investment will not be disturbed by other than the plans we have implemented.
There are several reasons that will disrupt investment so that it is possible to get out of the plans we have made at the beginning, in this life we don't know what will happen in the future, it's good if everything can be overcome with income from other sources but if market conditions are not according to what we expect psychologically our thinking will be disturbed and it will be possible to get out of the plan we have set at the beginning.
I think changing from the plan is a normal thing in an investment, even though it would be better for us to stick with it in order to achieve the goals we want.

There's been situations where we have a plan we have to execute and then we create the funds we measured to be enough for it's accomplishment and then things go smoothly, the plan starts getting executed rightly, the funds distributed, then at some point something else that carries as more urgency as it can comes up and then we're faced at a situation where there's no option but to make a deduction on the already arranged funds for this specific plan, now this deduction made will beyond all doubt affect the progress of this plan, at that point there'd be no further questions as we'd because of the urgency bend the plan a bit to do away with that urgent issue that arose.
Such is life, very much unpredictable, yes we'd say budget would help, but even with the budget, another budget can still be inside that we don't have a fore-knowledge of it's occurrence. When this situation raises, we just have to give in and get the problem fixed. So it's not anyone's fault if a whole lot of plans keeps changing in the process of it's accomplishment. All that should just be watched out for is adequate preparation for its occurrence, yes we won't prepare well financially but we can as well prepare well mentally and just see it as a normal cycle of life.

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Quote from: btc78 on November 06, 2023, 07:01:37 AM

a year ago, i was extremely disinterested with the idea of investing, trading and whatnot

i have heard about it and even tried to learn about it but i just could get myself to understand all its complexities never would have i thought that i’d be here holding bitcoin of my own
you’re right life rarely goes the way we expect it to and we are faced with numerous challenges along the way in which financial challenges being one of the most common through this website i was able to further understand bitcoin and cryptocurrency and was finally interested in investing

Nevertheless, don't put your eggs in one basket, always invest diversely. Like trading has been a very big challenge to keep hope on because it is highly risky. Bitcoin investment like hodling seem to me as more secured than trying out trading aspect. With bitcoin hodling, you are less pressured or scared because you have a chance to regain the drop because of the volatility. It is better to invest than to trade IMO.

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Quote from: boty on November 06, 2023, 08:27:06 AM

Quote from: alastantiger on November 02, 2023, 10:57:59 AM

For the community I want to know, has your investment plan always unfolded as expected or have unexpected events caused you to pause or modify your plan? Despite our best efforts there are instances where sticking rigorously to a plan becomes challenging due to the unpredictable nature of life.

So it would be better before we make an investment, we need to prepare savings for needs that we cannot foresee, so that we don't have to disturb the investment we make and if we have prepared the funds and also still need to use the funds we have invested, of course we can use it and try to reinvest at another opportunity and we must really have prepared funds to invest and also funds for emergency needs that we cannot foresee so as not to disrupt the investment we make.

If initially we have prepared well for investment, this does not mean that the investment will not be disturbed by other than the plans we have implemented.
There are several reasons that will disrupt investment so that it is possible to get out of the plans we have made at the beginning, in this life we don't know what will happen in the future, it's good if everything can be overcome with income from other sources but if market conditions are not according to what we expect psychologically our thinking will be disturbed and it will be possible to get out of the plan we have set at the beginning.
I think changing from the plan is a normal thing in an investment, even though it would be better for us to stick with it in order to achieve the goals we want.

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Quote from: alastantiger on November 02, 2023, 10:57:59 AM

For the community I want to know, has your investment plan always unfolded as expected or have unexpected events caused you to pause or modify your plan? Despite our best efforts there are instances where sticking rigorously to a plan becomes challenging due to the unpredictable nature of life.

So it would be better before we make an investment, we need to prepare savings for needs that we cannot foresee, so that we don't have to disturb the investment we make and if we have prepared the funds and also still need to use the funds we have invested, of course we can use it and try to reinvest at another opportunity and we must really have prepared funds to invest and also funds for emergency needs that we cannot foresee so as not to disrupt the investment we make.

Quote from: benalexis12 on November 06, 2023, 04:11:12 AM

Know that many plans don't work out, and it happens often. In short, plans always get nailed. Why? because action is usually not started immediately. That's why there are more unplanned things that happen than planned things that don't happen.

Well, let the action speak for the plan; that's a better saying. In which it is good to hold, if we are thinking, let's immediately start taking action now so that the plans in our minds can progress immediately, whatever they are.

By delaying doing what we have planned, we will not be able to carry out the plan well. It would be better if we have made a plan well, we must immediately implement the plan well because delaying what we have planned will make us lazy in implementing the plan, so that when we implement the plan it will not go well. Yes, it's true, taking action will always be better than just making a good plan but we never carry it out so the plans we make are useless.

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Quote from: benalexis12 on November 06, 2023, 04:11:12 AM

Quote from: alastantiger on November 02, 2023, 10:57:59 AM

We often advise newcomers asking about successful Bitcoin investment strategies to have a well-structured plan and stick to it no matter what. Nevertheless if there is anything I have learned is that in bitcoin investment it is rarely a linear journey. And despite our best intentions and meticulous planning, unforeseen circumstances can disrupt our initial plans. For the community I want to know, has your investment plan always unfolded as expected or have unexpected events caused you to pause or modify your plan? Despite our best efforts there are instances where sticking rigorously to a plan becomes challenging due to the unpredictable nature of life.

Know that many plans don't work out, and it happens often. In short, plans always get nailed. Why? because action is usually not started immediately. That's why there are more unplanned things that happen than planned things that don't happen.

Well, let the action speak for the plan; that's a better saying. In which it is good to hold, if we are thinking, let's immediately start taking action now so that the plans in our minds can progress immediately, whatever they are.

That's right, but even so it doesn't mean we have to forget and not build new plans, because it is part of the process of everyone's success in whatever they want to achieve. In my opinion, the success or failure of the plan you are living depends on how much and how good the preparation you have prepared beforehand, although basically we will not always know about what will happen someday, especially in the planning that we live but on the other hand it will be very useful for an encouragement to increase the chances of success of the plan that we have built and lived.

Everything, especially plans that are not accompanied by action, is nothing more than nonsense and planning that will not change and produce anything in the end. Therefore, of course I hope that whoever it is to remain firm on his plan along with taking some actions that can support and indirectly support so that your planning opportunities can reach the point of success.

btc78

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a year ago, i was extremely disinterested with the idea of investing, trading and whatnot

i have heard about it and even tried to learn about it but i just could get myself to understand all its complexities never would have i thought that i’d be here holding bitcoin of my own
you’re right life rarely goes the way we expect it to and we are faced with numerous challenges along the way in which financial challenges being one of the most common through this website i was able to further understand bitcoin and cryptocurrency and was finally interested in investing

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Quote from: alastantiger on November 02, 2023, 10:57:59 AM

We often advise newcomers asking about successful Bitcoin investment strategies to have a well-structured plan and stick to it no matter what. Nevertheless if there is anything I have learned is that in bitcoin investment it is rarely a linear journey. And despite our best intentions and meticulous planning, unforeseen circumstances can disrupt our initial plans. For the community I want to know, has your investment plan always unfolded as expected or have unexpected events caused you to pause or modify your plan? Despite our best efforts there are instances where sticking rigorously to a plan becomes challenging due to the unpredictable nature of life.

Know that many plans don't work out, and it happens often. In short, plans always get nailed. Why? because action is usually not started immediately. That's why there are more unplanned things that happen than planned things that don't happen.

Well, let the action speak for the plan; that's a better saying. In which it is good to hold, if we are thinking, let's immediately start taking action now so that the plans in our minds can progress immediately, whatever they are.

GxSTxV

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Unfortunately, nothing goes always as planned not only in investing but our whole life we receive news or things that will always make us change our plans, for example this year I was saving and investing in Bitcoin. Until I receive a new university acceptation that requires paying the full first part before getting started, So I had to use almost all my Bitcoin and sell it at a cheaper price than what it is now.
It’s so unfortunate but also you can’t do anything else, but worth to say that I didn’t give up and still saving on every chance and still believe just like any other time in my plan, as you said it’s only a pause and than you continue your road by sticking to your plan.

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The investment plan I have is still running as expected but there may be unexpected events, such as the need for money. But that doesn't happen often so my investment plans are still running as usual. I also don't want to stop that investment plan because I still have time to buy and hold Bitcoin.

Actually, it's okay if unexpected needs sometimes disrupt our investment plans. As long as we can cover these unexpected needs, we still have time to continue investing in the next period. Don't worry about the money being used for unexpected needs because we have allocated a certain amount of money for each investment.

The important thing is that we continue with our initial plan to invest in Bitcoin. We also still have time to buy and hold Bitcoin. So we have to be able to adjust everything based on the situation and conditions we experience.

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Quote from: alastantiger on November 02, 2023, 10:57:59 AM

We often advise newcomers asking about successful Bitcoin investment strategies to have a well-structured plan and stick to it no matter what. Nevertheless if there is anything I have learned is that in bitcoin investment it is rarely a linear journey. And despite our best intentions and meticulous planning, unforeseen circumstances can disrupt our initial plans. For the community I want to know, has your investment plan always unfolded as expected or have unexpected events caused you to pause or modify your plan? Despite our best efforts there are instances where sticking rigorously to a plan becomes challenging due to the unpredictable nature of life.

Yes, I regularly change my plans and think it's important to do so, because circumstances change as well. Capital and crypto markets are very volatile and change quickly in times of a crisis, that is why we as investors should be ready to adapt to a new situation. More sophisticated plans might already include different outlooks and give a recommendation how to act. For example, having a different plan for the bear market and the bull market makes a lot of sense, but also for times without large prices changes we should have a plan. For me, I prefer to reevaluate things on a constant basis instead of following one fixed plan for a long time. The only real strategy that makes sense to follow consistently is the DCA method in my opinion. Here we buy a fixed number of crypto currencies each month and following the strategy blindly is fine as it will lead to a decent purchase price of the coins over a long enough period. It saves a lot of time in doing research and after a few years this will lead to large crypto portfolio.

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Quote from: alastantiger on November 02, 2023, 10:57:59 AM

We often advise newcomers asking about successful Bitcoin investment strategies to have a well-structured plan and stick to it no matter what. Nevertheless if there is anything I have learned is that in bitcoin investment it is rarely a linear journey. And despite our best intentions and meticulous planning, unforeseen circumstances can disrupt our initial plans. For the community I want to know, has your investment plan always unfolded as expected or have unexpected events caused you to pause or modify your plan? Despite our best efforts there are instances where sticking rigorously to a plan becomes challenging due to the unpredictable nature of life.

We have our plan, but the crypto market has its own plan. Apart from that, our lives have whole different plans. So I don't think everyone could execute their plan (like I am going to make this much profit from Bitcoin and other coin trading; I didn't mean your personal goals or anything) because this market is highly volatile and we definitely can't promise this would happen. So when we set a threshold, sometimes it's disappointing, but other times it's beyond expectations. So keep your goals realistic because life is not always predictable, but our reaction to that should be strategic. Don't give up on them; keep going and fighting.

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Sometimes it doesn't take success to have the right to speak up, when I see valuable lessons from failure as a warning to anyone, and even with bitcoin. I have also encountered many failures that caused the original plan to be abandoned, and I always accept the truth of my own incompetence and hope that people do not get involved in those things. One of the things that I see appear and repeat a lot is the issue of a lack of knowledge and experience, but let's look at knowledge first. In the past, there were jobs that I arranged and operated, but actually I have never thoroughly understood them or known the things they would solve, so failure is the truth that I need to accept and try harder. I have learned and also felt the ''lose is the source of winner''.

Topic: Are You Sticking to Your Plan or Has Life Made You Pause or Modify It? - page 4. (Read 791 times)