Topic: Are You Sticking to Your Plan or Has Life Made You Pause or Modify It? - page 7. (Read 791 times)

As much as possible, I always wanted to stick to my plan when it comes to investing, and into my investments, but as always, I always have a plan B if things don't go the way I wanted to.

Having a plan, and stick to it has been helpful to me because I tried to do it, but there are some unexpected events that will sometimes really force you to have another plan. Some unexpected plans, and some challenges of mine in the past caused me to pause investing, or at least lessen the times that I'm investing, and until now TBH. I guess what's good for me is to stick to my plan, and that is to sell all of my assets during the bull run, and rebought it when bear market comes.

Not all the time I stick to my plan and that is the reason why Plan B exists in case Plan A never works. Of course, we can't be thinking of sticking to our plan if we see that it is not effective anymore, or else, we are committing suicide. Diversification is somewhat needed and the best thing to do is to correct the strategies that are not effective. As the market keeps on changing, it is also necessary to change our strategies and plans from time to time to cope with market changes as well.

Life itself is unpredictable so is investment in any sector. But regardless of these uncertainties we still need to make plans based on our prediction of the future. Sometimes it works as planned in some case it will have some hurdles that derails our roadmaps. This is why before we invest we should have emergency plans. One of the reasons why our plans change is because of financial emergency. In some cases, we are pressured to sell our coins because of unforeseen needs. But when we make provisions for these uncertainties we might have a better chance of sticking to our plans.

Investment is not a do-or-die affair. I know it takes determination to save and invest especially if one is staying in a developing country. But our main focus should be on our basic needs. Investing in Bitcoin should be after we have made adequate provisions for our basic needs.

It's actually good to have a solid plan before you decide to invest. That will serve as your motivation to keep on going because you certainly have a goal to achieve. But sometimes, due to the market volatility and unforeseen events suddenly happen, we are forced to change plans because things have been working not based on our plans. And I don't see wrong of that because it only means that you are flexible enough to any market changes. That does not mean also that once you change plans, there is less likely to achieve your goal. Of course, the same goal is there. It's just that a change of action is needed that you think will be more effective so that the goal of your investment will still be achieved. If there's a need to adjust, then accept it. After all, no plan is perfect because we don't know what the future holds. Just be flexible whenever its needed.

This. With life, it is unpredictable and some unforeseen things might come. I am sticking to the plan but that doesn't mean that I shouldn't also adjust if some things happen. I've got my holdings prepared for the next bull run and some of those are for the long term basis where I won't spend or sell any penny from it. But if some things have come and another opportunity has come in where I have to sell a part of it, I'd do it. I've done that in the past and even before the 2021 bull run. No regrets on my end because most of the plans that I did have been executed even if some unexpected things have come. We need to adjust, if there's a need to modify, we have to modify it no matter what the situation is bringing us in.

Yeah! When folks just getting into Bitcoin ask me how to put their money in, I also tell them you gotta make a plan and follow it.  But to be honest, I wasn't always so disciplined myself.  Life has a funny way of messin with ya, and sometimes you gotta tweak your moves based on whatever curveballs it throws.  Being flexible can make all the difference when you're trying to make bank in this crazy world. 

I remember when I first started buyin Bitcoin back in 2020 and  i was sure it would keep shooting up forever.  So I put way more cash into it than I should've.  But of course after hitting 60k for the first time, it crashed hard.  If I had stuck to my plan of investin 10% of my income, I wouldn't have lost so much.  But at least I learned my lesson about letting FOMO drive my choices.  These days, no matter how tempted I get when Bitcoin's pumping I stay disciplined. 

So especially when you're new make a reasonable plan and try to follow it.  Still, you can't be too rigid either.  Don't be afraid to make little adjustments if the situation changes.  Nothing ever goes 100% to plan with investing.  You gotta balance commitment with flexibility if you wanna succeed long-term in this game.

As a bitcoin investor, you already know the nature of the market to be full of ups and downs just like the candlesticks on a trading chart. Unexpected events may occur that may cause a dump in the market, Covid is a good example of such events in time. When everything seems to be going bad, it’s important to keep calm and not panic because the real loss starts when you begin to panic. You will have to adjust your plans according to certain changes in the market.

Unexpected events always exist in life so it will not be as smooth as what is imagined even though we have planned the initial investment carefully and sometimes in the middle of the road is always not predicted this makes the investment temporarily stopped because there are events that cannot be postponed, in life we will find many twists and turns in our lives.

But with that you can anticipate it with several things including doing good management.
1. Have a reserve fund.
2. Investing is not too aggressive, better as you can with ready to lose if in bitcoin.
3. Never borrow just for the sake of investing.

This is not any financial advice, but the above is one where circumstances must be prepared.

We cannot time the market, even if we spend hours or days analyzing it. It will make unexpected moves that will force us to make changes in our plans, but first, it will destroy our pre-planning. That's such a sad moment, not because we are losing money, but because we made efforts and applied all the basic rules of technical and fundamental analysis, but still, the market made a move totally on useless and fake things.

But that's so obvious because BTC is the market of demand and supply. If good news is thrown in the news websites with good traffic, then hype will be created, which in turn will return the demand because people will throw more money into BTC and demand will increase, resulting in an increase in price. And the opposite will happen if bad news is thrown into the market.

I also faced such a situation because there is not a single possibility that anyone in the BTC market would have not faced such a situation. Take the example of the recent unexpected fake news from the Cointelegraph channel.

Unexpected events include urgent needs.

I once said elsewhere which should be the priority in life between needs and investment. So you must first create a structured plan to fulfill your needs compared to other plans.

So far, my portfolio is in progress as planned. I have had more unexpected needs this year. And my plans I exclude using bitcoin for reasons of necessity

Thinking that your investment plans would always go as planned would be delusional and this is not only particulate to Bitcoin investment, as an investor it's best to know that there are risks to investing and not even Bitcoin is guaranteed and this is the reason why I hardly sell out Bitcoin as an investment opportunity because many newbies are getting the wrong perspective about.
Speaking about my plans I would be sticking to accumulating Bitcoin not to sell it out but to be part of those who benefits from it's financial system potentials.

Change is dynamic. There are  lots of factors that can make an individual switch from a preferred plan to another plan. These decisions are most times reasonable while are some are because of impatient or greed to make profit faster. I am not changing my strategy yet because I am still a buying more Bitcoins gradually. It will take me a year or 2 to completely accumulate the amount of Bitcoin I had in mind. If eventually I reach the amount I want I wont stop either because I would love to get more Bitcoins.

It is difficult to stick with a plan but easier to stick with the goal, even if the plan changes the goal should not change and whatever modifications you make along the way to the plan should also be on the target to hit the goal. I personally have the targets that I intend to meet and although my plan has often time undergone different modifications due to unplanned circumstances and economic situations, I am still focused on making sure that I am not derailed from hitting my goal as concerning my investment.

It is a normal thing that sometimes when we plan to invest their are some circumstances that occur that disrupt the plans, but this should not be an excuse of not having any investment in bitcoin. It is not easy to have investment because their are lots of obstacles that one will come across but one just have to be strong and focus to still hold up to the investment.  When it comes to hodling it takes discipline to achieve the target of investing. I'm able to still stick to hodling of bitcoin even with ugly challenges that keeps on happening I have made up my mind to achieve my target no matter what.

Maybe there some modifications on the plan cause if uts investment mattet we cant totally plan or expect it to be on our side. Sometimes there are cases that we didnt expect to happened. But more likely were gonna solve and remedy that with a back up plan that might suit our stuff on trading or investment purposes.

There will be no plan that works 100% perfectly, there will definitely be obstacles when market conditions change drastically. I don't even only have 1 plan, but there is a backup plan that needs to be made in order to overcome the initial plan that failed.
It's necessary to stick to the initial plan, but when it doesn't go well at least you have a backup plan that is almost the same as the initial plan. make sure all plans are supported by good management and several other things.

Generally life is uncertain, that is why we have a plan B that is meant to help us get to the expected end. But the difference between plan B and the initial plan is that is does not follow the rigorous structure of plan A but at least you won't lose.
For me, things have been working as planned but not in my investment life cause I do have one yet but certainly will get one soon.

Every of my plans that has fallen in place as planned did not just work as sort of a miracle, it is as a result of consistency, firstly what I do personally, is to write down this plans a book according to how I want to achieve them. Next is to type or write it on a carbon paper  of different colors. The colors are representing how soon I need to achieve it, then the last color is always "green" meaning I have achieved it already with this conviction in me. I then parse it on my notice board, which is directly facing my bed. Weird right? Yeah that how i keep my self on track when I sleep and wake up I look directly to it and immediately my mind adjust to the plans making me conscious of every action i take during my daily activities to avoid disruption on my plans.

When there are emergencies that tries to pull me off this plans, I gentle go through the plan again and add the emergency situation to the plan not adjust the original plan. I just add the situation to it and boom i will figure out how the situation can still push me to the track.
But if it gets to a level that i can't handle then my plan B comes in but finally the plan is still achieved.

No one knows the future so having an alternative plan is a must since there is a chance that the unexpected may happen.  In terms of investment, we must always this fail safe option where we can do if ever the Bitcoin market fail to deliver the expected result.  Sticking to the plan or not depends on the situation.  If there is no need for immediate funding then holding Bitcoin will continue but once there is and my current fund is not enough, I will probably modify my plan and sell some holdings to meet the fund I needed.

There are other plans in life that I feel I need to modify or stop like when the business is not that in demand anymore, instead of losing money in maintaining the business, it is better to give up and reduce the losses.  Same goes when I am investing with altcoins.

I won’t place my thoughts on bitcoin or cryptocurrency only because many would say it is volatile that’s why plans mapped out for it can never go through smoothly without having bumps on the way but even other businesses which we would regard as less volatile hardly goes into plan completely. And that’s why whenever you’re investing into anything one of the fundamental principles is to have a mapped out risk management plans. If you read posts of experienced investors or traders they will tell you to invest what you can afford to lose and also have an emergency plan to turn on to.

Personally I have hit rock bottom in some situations before and I somehow have to pause a little and retract my former decisions, if they are experts i engage them in the talk and see maybe they have encountered such blow and what they did to come out of it.

There also people that prefers to stick to there plan because they believe that it will be the only way to help them gain more experience and knowledge but for me most at times I pause a little and then re strategize

---

This belongs to economic board,

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