If you wait forever, you'll never make money

Kreigyr

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Quote from: antimattercrusader on November 19, 2013, 10:02:37 AM

Quote from: HappyBitCoinUser on November 19, 2013, 09:49:50 AM

Acting on emotion rather than common sense is how you lose money.

+1

Set goals with your investing, and stick to them. Leave emotion in another room.

I have much more fun making cold wallets and treating them like bodies I have to hide but possibly access later when the human remains bubble hits an all-time-high Tongue

antimattercrusader

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Quote from: HappyBitCoinUser on November 19, 2013, 09:49:50 AM

Acting on emotion rather than common sense is how you lose money.

+1

Set goals with your investing, and stick to them. Leave emotion in another room.

HappyBitCoinUser

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Acting on emotion rather than common sense is how you lose money.

Kreigyr

member

Activity: 75

Merit: 10

Quote from: Rival on November 19, 2013, 09:42:46 AM

A smart investor knows when to abstract out the concept of price when making an investment. Rather than confusing the issue and allowing irrational concerns about how many shares of something one might be obtaining from interfering, it is useful to just consider that you are investing "X" value.

In other words, ignore the price. Say to yourself "I am investing $100.00 in the bitcoin concept", not buying "X" coins. Because the "X" is not relevant.

This is an idea difficult to get to most people looking to invest, I find. I know one or two acquaintances who have issues accepting, say, 200$ per coin as it's simply "too high" in their eyes - not as a full investment, and not in the sense of "unstable" high, but "I can't afford that" high. That coupled with problems explaining divisibility seems to ward away basically everyone - there's some notion that you have "a bitcoin" inasmuch that you have "a 100$ bill" and you cannot split either into smaller parts. True in the latter case, hardly in the first.

Then they ask me about wallets...

Rival

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A smart investor knows when to abstract out the concept of price when making an investment. Rather than confusing the issue and allowing irrational concerns about how many shares of something one might be obtaining to interfere, it is useful to just consider that you are investing "X" value.

In other words, ignore the price. Say to yourself "I am investing $100.00 in the bitcoin concept", not buying "X" coins. Because the "X" is not relevant.

Kreigyr

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I've had this issue around the spike in April. Tons of my friends beforehand claimed it was too high - at ~10$ a pop, I guess it was understandable at the time. They all proceeded to start moaning when it got closer to 100$... and this carries on to this day. It's always "too high" Tongue

I somewhat hate to accept that as a valid argument against investing, but there's really nothing wrong with risking nothing, methinks.

HappyBitCoinUser

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LOL trying to convince people to buy at a high price during obvious bubble burst?

That's how you lose money.

Your suppose to buy low, sell high, not the other way around.

GigaCoin

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Giga

Quote from: lucas.sev on November 19, 2013, 09:11:56 AM

Translation: please stop the price from falling!!

Actually i've expressed my desire constantly on this forum to see the prices at $200 again, unlikely but would be fantastic. I got to know Bitcoin earlier this year and been in this forum for a while so non of the current price fluctuations matter, this is pure advise from experience.

lucas.sev

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Translation: please stop the price from falling!!

GigaCoin

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Activity: 308

Merit: 251

Giga

I see too many always "Waiting" for the price to go lower, and when it does it's "not low enough", and then suddenly the price sky rockets again, regret kicks in and then the forum fills with "i wish i bought at $xxx" posts.

This is just a start, Bitcion is possibly the greatest opportunity of your lives, the current rates of $500-$600 are still pretty good on the long run, even if the price drops below your purchase price, your investment will recover eventually and net you a minimum of 100% - 200% return in 1 year. So buy them coins, whatever you can afford, even if it's a few thousand dollars and hold them. Don't follow the charts like crazy and stay logged out off your trading account.

Topic: If you wait forever, you'll never make money (Read 1128 times)