Topic: Have a Income? Invest in Crypto or Not? Let's think realistically - page 3. (Read 742 times)
If you are an average salary earner who barely saves atleast 20% of your monthly salary perhaps, because of expenses, then investing I guess won't be advisable in this technology. Investing to Bitcoin won't give you instant profit, you will berequired to be patient. Given that in the situation you are having trouble with saving anount of your monthly salary, if ever an emergency happens or when you needed money, where will you get it? The tendency is you will pull out your investments but what if the marke price is down by the time you will need it? That would yield to a permanent loss in your investment and such thing would happen continuously. Invest an amount you can afford losing.
Well, there is a plenty of lessons we have to learn about this field. To begin with, do not trade when you’re not capable, it is really important to feed your mind with knowledge before you even start otherwise you will randomly make idiotic decisions and lose your funds within few days. In addition to that, believe no body, as you see the social media and groups are full of fake news, predictions and information. Furthermore, start with a low budget at the beginning to avoid the risk of loss and it is certain you will gain experience by time. At that moment, you can add more money on your capital if needed.
I disagree ... everyone come to trade empty handed with almost zero knowledge about trading , the one make huge difference is that sometimes people get too greedy and some people can get over this greedy thingy , the problem is over there i think on how you can handle the greed.The lesson and knowledge can only learned... gained through the experience , so you better to start small even you had 0 knowledge . Remember ... 'START SMALL'
In my opinion, the best thing when we invest is when we get income, the mistake of many people is that they invest by selling or getting into debt without having income so when there is a little price fluctuation, we immediately panic, if we have income, we will be calmer and not panic so we can focus on the target the profit we set.
That's not just the case, whether you invest with loaned money or not but you have come unprepared for that risk then you're doing the wrong thing. There are too many investors that are going with the wrong way as they think that it's something that they shouldn't worry about.What I want to convey here from my experience is Be good at self-management and strategy. Don't be tempted by what we see. What we see is not necessarily easy when we do it. Classify your investment type. Don't mix it up. If one is destroyed then it cannot affect your other investments/businesses.
Well, are there any additional tips on trading and managing finances from the salary we get or experience similar to mine? Please share here. thank you..
This story is only limited to my experience. And it is not meant to be solicitation or patronizing.
Thanks for sharing this experience, this is what's wrong with today's generation. When people see others doing well in a particular investment, they're all diving and jumping in on it thinking that they should be better as well.Well, are there any additional tips on trading and managing finances from the salary we get or experience similar to mine? Please share here. thank you..
This story is only limited to my experience. And it is not meant to be solicitation or patronizing.
But little did they know is that there could be some other investments where their fate is coming and should be better for them. That idea of doing others investments is likely gonna work for them but in reality, it's not.
We all still have good option of whatever we want to invest in. Cryptocurrency is here to stay and not everybody understand it as much like that so some persons still find it hard how people make money from crypto. We should keep trying what we think is working for us but also try new things so that we can earn too from different angles.
cryptocurrency has come to stay and the many people have known system for people that does not know how to invest in cryptocurrency they are the people that lack knowledge of grief too and they don't want to know because if they want to know concerning cryptocurrency they will ensure that they have read the article or use the currency
We all still have good option of whatever we want to invest in. Cryptocurrency is here to stay and not everybody understand it as much like that so some persons still find it hard how people make money from crypto. We should keep trying what we think is working for us but also try new things so that we can earn too from different angles.
We are of course aware of what to do because when making purchases of things like this we have research and ratios about the benefits we have and as long as the target is met, why regret it because we have also made a profit, right?
Even though it sounds quite naive, but we already have our own limits about it and as long as it's profitable then why pursue something more by continuing to force it.
I do not consider greed in this case to be bad because there are times when we also have to have a spirit of greed within but on the other hand we must be aware of the targets we want to achieve because of course that is what we want to achieve.
If the time to buy is definitely right, then there will be nothing to regret. Considering that we are still in a bear market and at the current price the investment is already profitable, then everything is done correctly.Even though it sounds quite naive, but we already have our own limits about it and as long as it's profitable then why pursue something more by continuing to force it.
I do not consider greed in this case to be bad because there are times when we also have to have a spirit of greed within but on the other hand we must be aware of the targets we want to achieve because of course that is what we want to achieve.
If the bear market is not at its final stage, and the price continues to fall for some more time, then nothing bad will happen, since this will be an additional opportunity to replenish the investment portfolio.
I don’t know if we should talk about greed here, maybe we should be greedy in our desire to get as much bitcoin as possible during this period, but this greed should not prevent us from selling bitcoin in a bull market and making a profit.
Thinking up realistically is the best approach on which you shouldnt really be making yourself expecting or anticipating on something positive because this market is really that totally random and something
that you couldnt really be able to guess. If you do have some income and tending to have that plans on extending out or diversify then you could always be having the option on making
out some investment but of course, this isnt for everyone because this is for someone who could be able to take up the risks and wont be whining later on, on the time
the market would be showing huge red candles.
Well, there is a plenty of lessons we have to learn about this field. To begin with, do not trade when you’re not capable, it is really important to feed your mind with knowledge before you even start otherwise you will randomly make idiotic decisions and lose your funds within few days. In addition to that, believe no body, as you see the social media and groups are full of fake news, predictions and information. Furthermore, start with a low budget at the beginning to avoid the risk of loss and it is certain you will gain experience by time. At that moment, you can add more money on your capital if needed.
And as long as we study, we must also be able to control the money we use and only use the money we can afford to lose. This is to minimize losses that can come at any time. You have made the most common mistake, when a trader has money and no experience, he enters the market immediately with the entire amount. All so learn ho to control and discipline yourself when trading. And when the price of bitcoin drops,it is a good time to increase DCA buying and return to normal when the price is out of limit or start to recovery and the of long term.
A lot of investors are having this misconception, which is alarming. They argue that diversification means investing in different altcoins, and they are safe. This is only true if we are talking exclusively about our altcoin portfolio, but more broadly, their assets are still only in one basket, which is the cryptocurrency market. And once the market crashes, their entire assets will also collapse. This has been repeated many times on the forum, but I still see many people making this mistake.
I also think the same as you, just a few days ago I had a similar exchange on this forum, it seems this idea of investing in altcoins as a way to diversify your bitcoin holdings is relatively common, but it is a mistake, as you gain no additional protection to your capital by doing that, now if someone is investing in altcoins as a way to maximize their profits then as long as they picked the right coins they may actually achieve their goals, as it is easier for an altcoin with a lower market cap to grow. 
The best set of people that are qualified for investment are does that make extra income because if the money you are making every month is not sustaining you how will you keep up? you will have to take from your investment because you have to survive and there is no any other way around it so to invest with peace of mind you need an extra source of income that you won't be spending any time soon.
There is no way to go hungry because you want to invest in crypto or Bitcoin, I have never seen anyone doing this successfully because you can't cheat hunger, you need food and you need more than food, if you have no income, investment of any kind is not meant for someone like you.
There is no way to go hungry because you want to invest in crypto or Bitcoin, I have never seen anyone doing this successfully because you can't cheat hunger, you need food and you need more than food, if you have no income, investment of any kind is not meant for someone like you.
In my opinion, the best thing when we invest is when we get income, the mistake of many people is that they invest by selling or getting into debt without having income so when there is a little price fluctuation, we immediately panic, if we have income, we will be calmer and not panic so we can focus on the target the profit we set.
Investing must indeed have capital or previous income that has been saved so that when someone wants to use it as an investment, they can immediately take it. That is, when a person has where to invest and which assets he must have, he must seek as much capital as he has and not try to owe or borrow elsewhere to make the investment.
Even though this kind of work has very clear risks, but for some reason there are people who think of going into debt when they want to do that kind of work in their life. It's the same as he makes two risks in his life that can result in trouble for himself.
We are of course aware of what to do because when making purchases of things like this we have research and ratios about the benefits we have and as long as the target is met, why regret it because we have also made a profit, right?
Even though it sounds quite naive, but we already have our own limits about it and as long as it's profitable then why pursue something more by continuing to force it.
I do not consider greed in this case to be bad because there are times when we also have to have a spirit of greed within but on the other hand we must be aware of the targets we want to achieve because of course that is what we want to achieve.
that's right, it's not about greed when we have the desire to be able to take big profits, it's quite logical and everyone wants that even though they know about the risks that are proportional to what they will get.Even though it sounds quite naive, but we already have our own limits about it and as long as it's profitable then why pursue something more by continuing to force it.
I do not consider greed in this case to be bad because there are times when we also have to have a spirit of greed within but on the other hand we must be aware of the targets we want to achieve because of course that is what we want to achieve.
investing in Crypto allows a lot of things to happen because of very significant movements, we have to think about that and because of that it is possible for a lot of things to happen.
and when we already know all the risks and possibilities then now let's think realistically, this is not about greed but about how knowledge and investment arrangements we make ourselves.
The most important thing in this case is profit and it doesn't matter if it's big or small as long as our target is exceeded
We are of course aware of what to do because when making purchases of things like this we have research and ratios about the benefits we have and as long as the target is met, why regret it because we have also made a profit, right?
Even though it sounds quite naive, but we already have our own limits about it and as long as it's profitable then why pursue something more by continuing to force it.
I do not consider greed in this case to be bad because there are times when we also have to have a spirit of greed within but on the other hand we must be aware of the targets we want to achieve because of course that is what we want to achieve.
If the time to buy is definitely right, then there will be nothing to regret. Considering that we are still in a bear market and at the current price the investment is already profitable, then everything is done correctly.Even though it sounds quite naive, but we already have our own limits about it and as long as it's profitable then why pursue something more by continuing to force it.
I do not consider greed in this case to be bad because there are times when we also have to have a spirit of greed within but on the other hand we must be aware of the targets we want to achieve because of course that is what we want to achieve.
If the bear market is not at its final stage, and the price continues to fall for some more time, then nothing bad will happen, since this will be an additional opportunity to replenish the investment portfolio.
I don’t know if we should talk about greed here, maybe we should be greedy in our desire to get as much bitcoin as possible during this period, but this greed should not prevent us from selling bitcoin in a bull market and making a profit.
But on the other hand, talking about being greedy in bitcoin investment can also have a sword with 2 sides there because greed could lead to remembering that this is an investment and there is no guarantee in bitcoin, even if the hope is still good but buy when the price is low and don't be hooked on anything if you do DCA then it's still very good but don't risk it all if you can't afford to lose it.
If you have good know how about the market than you can surely invest in crypto and yes if you have a running income because investments are always risky and if you don't have any solid amount with you than don't go for big games because results can be scary.
In my opinion, the best thing when we invest is when we get income, the mistake of many people is that they invest by selling or getting into debt without having income so when there is a little price fluctuation, we immediately panic, if we have income, we will be calmer and not panic so we can focus on the target the profit we set.
We are of course aware of what to do because when making purchases of things like this we have research and ratios about the benefits we have and as long as the target is met, why regret it because we have also made a profit, right?
Even though it sounds quite naive, but we already have our own limits about it and as long as it's profitable then why pursue something more by continuing to force it.
I do not consider greed in this case to be bad because there are times when we also have to have a spirit of greed within but on the other hand we must be aware of the targets we want to achieve because of course that is what we want to achieve.
If the time to buy is definitely right, then there will be nothing to regret. Considering that we are still in a bear market and at the current price the investment is already profitable, then everything is done correctly.Even though it sounds quite naive, but we already have our own limits about it and as long as it's profitable then why pursue something more by continuing to force it.
I do not consider greed in this case to be bad because there are times when we also have to have a spirit of greed within but on the other hand we must be aware of the targets we want to achieve because of course that is what we want to achieve.
If the bear market is not at its final stage, and the price continues to fall for some more time, then nothing bad will happen, since this will be an additional opportunity to replenish the investment portfolio.
I don’t know if we should talk about greed here, maybe we should be greedy in our desire to get as much bitcoin as possible during this period, but this greed should not prevent us from selling bitcoin in a bull market and making a profit.
It's good that this happened OP, now you know what to do to get better with yourself, trading is not something that brings guaranteed results because it's still a prediction, the chart can go against you when you don't see it coming.
I prefer spot trading because it's the safest trading option for everyone, buy low and sell high its that simple, but it could take a longer time for your orders to click.
It seems you have spent a lot of time trying all those ways out but it would have been better if you used for time learning and not trying to make money, today you would have been a more smarter person, there is nothing you went through that hasn't happened to someone on this forum.
After all the rough lessons I learnt about crypto I have choose buying coins and holding for the long term over many other ways that people are using to make money in crypto, find one that works for you and adhere with it.
I prefer spot trading because it's the safest trading option for everyone, buy low and sell high its that simple, but it could take a longer time for your orders to click.
It seems you have spent a lot of time trying all those ways out but it would have been better if you used for time learning and not trying to make money, today you would have been a more smarter person, there is nothing you went through that hasn't happened to someone on this forum.
After all the rough lessons I learnt about crypto I have choose buying coins and holding for the long term over many other ways that people are using to make money in crypto, find one that works for you and adhere with it.
In the following month I was crazy. Full of revenge, I thought of all the ways how to make my capital money that was lost at that time come back through the next trade
No trader takes revenge on the market and survives it. The market is the master and traders are the slaves. We go whither the market wants us to go. Doing otherwise often results to grave consequences.Quote
Don't rush, Enjoy the process. And if it's steady and ready to trade. Do it carefully, use SL and TP, be grateful for the profit, even if it's small, rather than a big loss. Don't be Greedy!
That's the gospel truth and it should be imbibed by anyone who wants to be counted successful in trading. Trading should be taken as a profession and a long term career, not as a shortcut to any self aggrandizement.Quote
Random use of lots, entered without research, blind to news.
That's often the issue with emotional trading and not sticking to a trading plan. At the end, the trader who indulges what you listed there end up paying dearly for that. Greed is always something that will destroy us, therefore we must avoid as much as possible not to become greedy people. Investing in cryptocurrencies is something that is profitable if we really understand what to do, and it's true that we also have to be able to control ourselves so we don't become greedy people. Because greedy people will end up with unwanted things.
I'm going to invest in cryptocurrencies, but I'm also not going to expect huge returns. That's one of my ways to keep me from being overpowered by greed.
I'm going to invest in cryptocurrencies, but I'm also not going to expect huge returns. That's one of my ways to keep me from being overpowered by greed.
Of course, greed is bad, but there is also such a thing as lost profit syndrome. For example, you invested in one cryptocurrency and sold it for a 50% profit. After that, the price immediately went up another 300%. Okay, you got over it. Then you invested in another cryptocurrency and sold it for a 50% profit. A day later the price went up 500%. The question is, what do you do when you invest a third time? Sell at a 50% profit or wait? Here's the dilemma. That's easy to say until you find yourself in that situation. And if you do?
Even though it sounds quite naive, but we already have our own limits about it and as long as it's profitable then why pursue something more by continuing to force it.
I do not consider greed in this case to be bad because there are times when we also have to have a spirit of greed within but on the other hand we must be aware of the targets we want to achieve because of course that is what we want to achieve.
investing in Crypto allows a lot of things to happen because of very significant movements, we have to think about that and because of that it is possible for a lot of things to happen.
and when we already know all the risks and possibilities then now let's think realistically, this is not about greed but about how knowledge and investment arrangements we make ourselves.
Greed is always something that will destroy us, therefore we must avoid as much as possible not to become greedy people. Investing in cryptocurrencies is something that is profitable if we really understand what to do, and it's true that we also have to be able to control ourselves so we don't become greedy people. Because greedy people will end up with unwanted things.
I'm going to invest in cryptocurrencies, but I'm also not going to expect huge returns. That's one of my ways to keep me from being overpowered by greed.
I'm going to invest in cryptocurrencies, but I'm also not going to expect huge returns. That's one of my ways to keep me from being overpowered by greed.
Of course, greed is bad, but there is also such a thing as lost profit syndrome. For example, you invested in one cryptocurrency and sold it for a 50% profit. After that, the price immediately went up another 300%. Okay, you got over it. Then you invested in another cryptocurrency and sold it for a 50% profit. A day later the price went up 500%. The question is, what do you do when you invest a third time? Sell at a 50% profit or wait? Here's the dilemma. That's easy to say until you find yourself in that situation. And if you do?
Even though it sounds quite naive, but we already have our own limits about it and as long as it's profitable then why pursue something more by continuing to force it.
I do not consider greed in this case to be bad because there are times when we also have to have a spirit of greed within but on the other hand we must be aware of the targets we want to achieve because of course that is what we want to achieve.
Diversification is a good thing when it comes to investing but buying altcoins, I don't think it's diversification. The entire crypto market depends on bitcoin, if bitcoin crashes, then no altcoins will survive, so buying altcoins for diversification is a serious mistake, many people are making. If you want to diversify your portfolio, you should invest in non-crypto assets like gold, stocks, real estate, etc. That will ensure your safety since they are not related to each other.
DanWalker I give merit to you. I think your opinion about Diversification is very reasonable. If we spread our money only in the crypto market it is the same as Suicide. What DanWalker suggests sounds very realistic and makes sense. Even if the crypto market is f*ck*d up, our non-crypto assets will at least provide another opportunity.
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