Topic: Are You Sticking to Your Plan or Has Life Made You Pause or Modify It? - page 6. (Read 794 times)

Advising to newcomer about Bitcoin isn't mean the my Bitcoin investment is already successful and there's no such a complete plan!

I always say for newcomer to learn about Bitcoin, then invest it using DCA strategy, and make sure you've have a job that pays well first. I'm not someone who said investing in Bitcoin will be successful regardless how much you earn monthly or something like that.

If you earn good amount of money monthly, you wouldn't need to change your plan because you have money that you can use for emergency needs.

Any course of strategy that thoroughly conceived and planned will not automatically make it predetermined. It’s not specifically applies only to bitcoin investment, but a matter of life. There are things that are beyond our control and things that one can control internally.

Consequently, the are a concepts of risk likeliness and impact. Where each potential effect assessed to calculate its contribution to the plan or strategy. So, I don’t believe that strategy can be achieve pitch perfectly 100% as planned.

The first and most important thing is to ensure stable finances if you want to invest in Bitcoin as ideally as possible within the planned time period. Because with financial stability it will be easier for you to carry out the plans that have been prepared. Like it or not, the main rule is like that. But it's not always ideal, buy Bitcoin with the amount you can afford, no need to stick to plans that you can't fulfill. Whenever you have extra money, invest it, even if it's just a few dollars. Then, when you encounter sudden needs that must be met automatically, you can set aside investments and fulfill those needs until they are met properly.

Every investment plan does not always go well, it just depends on how you respond to it. Simplify it in your own way so that it doesn't become a heavy burden just because you are faced with 2 choices. Your investment is your right to determine good and bad decisions and will not harm other people.

It is impossible to stick to the plan if you are not ambitious enough and have no purpose. Even if you have a goal, ambition will overcome the difficulties in achieving that goal and controlled ambition is necessary to stick to the plan. People often make short-term investments in the cryptocurrency markets and their goal is to double their investment in a very short period of time. Sadly, many of those who plan to do this end up with balances that fall behind where they started.

Sticking to the plan is a difficult process and going through painful experiences is one of the most effective ways to stick to the plan. Another way to stick to the plan is to listen to the advice of those who have had painful experiences. There will be many factors in life that negatively affect us financially and emotionally, but if you believe in the future of Bitcoin in the cryptocurrency markets, stick to your plan and don't let anything deter you from your path.

The only unforeseen circumstances that may alter your original bitcoin investment plan, is when there is an emergency that desperately need funds.
This could be prevented though with a well planned financial managements. This is where you realize the importance of the saying "invest what you can afford to lose". Because the money you put in bitcoin will be at a temporary loss especially during bearish market. Saving an emergency funds separate from your personal savings is a great contingency plan against this unforeseen circumstances that may cost you bitcoin investments and any other form of investments.

Planning will help you start and grow your business A good business plan helps to focus only on the specific steps required to make the business idea a success and it helps them achieve their short term and long-term objectives. Also the business plan guides you through every stage of starting and managing your business. Investing in bitcoin requires a long term plan and the chances of success are high if the plan is properly maintained. Now that you know what area you want to work in, the next step is to analyze the market in which you want to work. Planning helps to critically evaluate the goal it facilitates decision making and allows setting a deadline by predicting when one can achieve one's goals.

Life is always full of surprises and it is difficult to predict anything. So if things don't go as we expected and we have obstacles, it's not a big deal. I mean, we don't need to be too strict with our plans, we should be flexible in every situation to have an easier life instead of always sticking to the first plan and feeling disappointed when it didn't go as well as we expected.  

During my journey of accumulating bitcoins over the past 2 years, I encountered a few problems that prevented me from accumulating the bitcoins as planned, but that doesn't mean my plan failed or that I will stop. Instead, I changed the plan to suit the situation and was satisfied with what I achieved.

Whatever plans we have should always be flexible. If you plan is to DCA weekly until you get to 1 bitcoin, it may take you a very long time. Meanwhile there are other ways to get to 1 bitcoin. Investing in altcoin, taking profit from it and buying more bitcoins is a flexible approach to reaching your one coin goal.

More than once, life has made me to pause or modify my goals. One such case is selling a few of my Satoshi to pay my house rent when the going was tough and I didn't want to borrow any money from anyone. It affected my plans. I was flexible enough.

Life happens when we are not thinking about it. So we must be very futuristic with our plans by thinking about all the things that could go wrong and making a buffer plan for them. Always be prepared and on guard for life's unexpected twists and turns.

It's a goal-oriented plan. Inhibiting factors can come unexpectedly, so having a plan must be arranged as flexibly as possible which is able to accept the necessary changes to achieve the same results.

Life will always throw you at unexpected situations so if you are stubborn and stick with what you initially planned to do then it may have the lesser chance so the smart option will be to plan accordingly to the market situation whether it is investment in bitcoin or stocks or whatever assets just adjust to the current situation and tries to make most out of it.

When we make our plans in life, circumstances in life do also have its own unforeseen plans for us that's why life in general is unpredictable going by how we can't certainly say what could be our fate the next minutes. That's why in all our planning be it bitcoin investment or any other business investment there must be a contingency plan on ground to alleviate storming weather that may arise against your plans from going smoothly.

A good businessman knows not to be too rigid but flexible with investment planning so that when situations hit against the already laid down plan we can always adjust, modify and move on without fail. The dynamism of business challenges can come in form of natural disasters, wars/conflicts, death, or from our own mistakes etc.

The bottom line is:
• Never expect your plans to go as planned, be flexible in your planning.
• Make for an emergency fund even when you feel you're on the right track.
• Never mistake a need (necessity) to a want in your business plans. The two are totally not same.
• No man is a library of all knowledge, learning to seek for business advise when you meet challenges that threatens your investment and also evaluate all advises given before digesting it.

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Just a simple personal experience and not a business expertise advise.

As it is, what the OP says looks like he has not included a good emergency fund in his plan so that he can draw on it when the going gets tough and not have to sell his Bitcoin. In my case, I have modified a bit the plans I had regarding Bitcoin over time but due to my financial evolution and knowledge, not because I have been forced to sell.

Of course this will get a very conditional answer and will never be the same. Sometimes I change plans more often because I see other opportunities that suddenly appear. This often happens and the end result is that no one knows about our plans. Sometimes changing plans can end in happiness, but sometimes it can't be without regret.

To get satisfactory results, usually first plan plan B as a backup plan. And if plan B is not possible, you are forced to make an impromptu plan and sometimes stop for a moment to think and see opportunities.

But what is certain is that I always like the plans I make. Even if it fails, I am still proud and if it succeeds, that is my contribution.

Using money that is not used for other needs is one way to ensure that investments are not disrupted. Financial conditions are unpredictable, it is necessary to have savings to anticipate urgent needs so that investments are not disrupted. We must strive to ensure that the initial plan is neatly structured and runs perfectly, whatever happens, don't let the assets that have been collected be sold because they are unable to withstand the pressure to finance other needs. Investment is a scheme to make a profit after the price increases, before the investment plan reaches the target point, never destroy the initial plan because to start collecting assets you have to start from zero again.

honestly life planning in my opinion such ineffective way of living, you just never know what future holds, why even bother plan, just give some big outlining on what you really wanna do, then you're set.
you will encounter many hassle and opportunities as you go on, which definitely gonna mess up plan if someone have one but you are just having the big outlining for what you wanna do so you just gonna go with the flow.
I personally just doing thing like learning skill and more, without any proper expectation for the future, but i can be prepared for what opportunities i might encounter in the future.
thats why i consider plannign is ineffective, might be difficult for someone else though, considering there are some people out there that have planned their life for achieving some great thing.

I do not really have some official plan or anything.  I am pretty much done with the whole traditional banking scene.  These days I mostly just use different cryptocurrencies instead of dealing with banks and  i know it probably sounds crazy, but I am all about the future of finance being decentralized and people controlling their own money without needing big institutions like banks anymore. It is not just a plan; it is a lifestyle.

I think it's more difficult for me to hold Fiat than to hold Bitcoin, in the sense that I can hold my Bitcoin and will not sell during some simple situation, but if it were Fiat, I would hold Like that, there is likely a possibility that I will spend it. I have my Bitcoin in my storage but can take a Fiat loan just not to sell off my Bitcoin. Also, I can say I have had some plans to invest a certain amount of money in Bitcoin because I had a target for the fraction I wanted to archive in a targeted period, but since I skipped some times, I was not able to archive the amount I wanted to invest, so I changed my plan and budget just to make sure I archived that target.

My investment plan on bitcoin has been shaking this period due to some certain challenges which was never part of the plan, I have not only stopped buying for sometimes now but I have also started selling few altcoins which I purchased and added to my crypto portfolio, this is as a result of me trying to meet up with bills of my increase needs.

There are times when we experience difficulties even if one is have a planned means of buying DCA and and agreed amount which is to be bought every week, those challenges can make you skip up to a month self without even thinking about accumulation, but that’s not always the end of it, as things move to the positive side one will always have the chance and time to start from where ever he stop.

Well since nothing is certain in cryptocurrency, I think our plans aren’t certain as well so I doubt if Majority of persons over here still actually keep to their initial plans they had from the onset because I already use myself as a case study as I’ve tried several things with crypto and initially I wanted to be a day trader and later switched to long time trader before getting other decisions and that’s to say that, it is actually not always easy to maintain a foresaid course while starting the crypto journey as there are 85 percent chances of a change if diei

In any case, we definitely understand the following things, namely that plans do not necessarily go according to what we planned. We sometimes arrange our plans and make them as good and ideal as possible. But in reality, it won't be that smooth. So in the end, we need to adjust the plan according to what should be done at that time. This is the importance of strategy at critical times to be able to decide what our next plan should be. This doesn't mean we are inconsistent and committed to the original plan, no. but rather we are more realistic in making decisions as wisely as possible so that no matter what, the results will be in accordance with our plans. And it could be that we need several backup plans if plan A really doesn't work.

This is important, especially in relation to business in cryptocurrency which is always a high risk. Several plans will allow us to understand quickly and in a timely manner when something is not ideal or does not work as planned. Investing in crypto also means that we must understand and know what to do carefully. Moreover, this is something that is high risk. So, modifying or re-adjusting the plan is quite necessary at certain times.