Topic: Know your limits! - page 5. (Read 783 times)
It really comes down to your emotional capability, whether you read a lot of threads and gain knowledge about cryptocurrencies as much as you can, it will all be a waste if you can handle all the FUDs and bad happenings to the coin you invested in. It just seems like you really did not learn anything from all the research you made because I know for a fact that you came across an article or something that tackles about how the market works and that you should trust your investment and hold as much as possible.
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Entry and Exit strategy is a must in this market. With so much volatility and manipulators you need to carefully plan your every move and get out as soon at you hit your target. Again, you don't need to be greedy. As long as you are getting profits then get out before your emotions take over, your decisions clouded and at the end lose everything.
I learned the same lesson the hard way. I got some tokens and coins from doing promotional bounties since last year and I decided to "hodl" most of them until now...guess what if I have to compare the value to my holdings from last year I think I already lost more than 75% of their value. had I sold them when they hit their highest rate, I could have used the money to finance my other business. This is something that many of us should look into or as what you said one must have his own entry and exit strategy.
Before i entered the world of investments and cryptocurrency market, i try to study the foot step, the habits and the lifestyle of a rich and successful people in the stock market and economy and one of the person i admired is Mr. Buffet, he is humble, frugal and patient and what make him wealthy. So until i finally follow his mindset and i applied it on the cryptocurrency world in order to win a game slowly but surely.
Economics is a science, but also marketing. In crypto, we see the two connected. It's not easy to dissect them. Some marketing campaigns can blind anyone. I think it's necessary, above all, experience.
What I am trying to say over here. That, those investments are based on a lot of speculation and knowledge but not only.
Sometimes no matter how a product is good, the team is doing great and everything is perfect. Sometimes the market itself isn't perfect.
So I'm trying to tell you KNOW YOUR LIMITS. Why so? Due to the high volatility (10% up, 10% down), I got addicted to this and all I wanted is to make 2x. I felt it was so close to me (to be honest if I wouldn't touch my money and just HODL almost no matter at what coin I would at least 3x). So I changed from a coin to a coin was looking for the closest pump, for instant profit I wanted it so hard without noticing I am losing very slowly.
Sometimes no matter how a product is good, the team is doing great and everything is perfect. Sometimes the market itself isn't perfect.
So I'm trying to tell you KNOW YOUR LIMITS. Why so? Due to the high volatility (10% up, 10% down), I got addicted to this and all I wanted is to make 2x. I felt it was so close to me (to be honest if I wouldn't touch my money and just HODL almost no matter at what coin I would at least 3x). So I changed from a coin to a coin was looking for the closest pump, for instant profit I wanted it so hard without noticing I am losing very slowly.
I've done this too when I was just starting to trade. I am just overwhelmed by the fact that the market is so volatile so there is so many opportunities and since a pump is happening everyday then sooner or later I will be able to double my money. I traded from one coin to another and just blindly follow the advise of others and whatever coin the hype is, I would buy it. I am doing good at the beginning but later on I was burned. I'm being dumped because I bought too high and lose a big chunk of my trading capital. That's the time I realize that I am being too greedy so it backfired. I should just have patience and delayed gratification is not that bad.
Its a fantastic advice, a lot of people put their investment without knowing anything and only led by greed, and without proper knowledge they are gambling with their investment, although crypto investments is very tempting it got a very big risk, so people who want to involve in crypto should always learn and prepare for the worst and never used any money from your daily need, the market is very hard to predict and sometimes can be bearish for a long term
You just ignore everything ! Do you have a plan about how you can get capital ? We have tips for you , though it is just a short value for us because many people have posted on the majority who have tips here .every trades should learn from their own mistake .failure in just another steps rowards success .don't lose hope in your life and get started making profits too slowly and why we need to post cryptocurrency profolio here .do we have experienced with the trades .who can afford most useful tips.
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Entry and Exit strategy is a must in this market. With so much volatility and manipulators you need to carefully plan your every move and get out as soon at you hit your target. Again, you don't need to be greedy. As long as you are getting profits then get out before your emotions take over, your decisions clouded and at the end lose everything.
I learned the same lesson the hard way. I got some tokens and coins from doing promotional bounties since last year and I decided to "hodl" most of them until now...guess what if I have to compare the value to my holdings from last year I think I already lost more than 75% of their value. had I sold them when they hit their highest rate, I could have used the money to finance my other business. This is something that many of us should look into or as what you said one must have his own entry and exit strategy.
Human limitations are unpredictable, but talk of greed is endless without the expression, the footsteps attached to the currency can not be said before. On the battlefield there must be winners and losers, so the value of the man goes with the money. Think carefully so that no regrets are the best way to keep yourself
Thank you very much for sharing your experienced. By the way experience is the great teacher ever in the world toward ourselves. This kind of teaching is very powerful in our life that we always remember to take care every moment we do some activities especially business. Learnings so far is unforgettable. Then we should take care to our selves and before participating in one ico we should be strong.
Thanks for sharing your experience, atleast it gives us newbie tips on how and what to do. I think we should be cautious in every steps that we make. We must aim something and try to achieve it but not in a rush. We should take it slow and we should not let our emotions control us. We must all be patient and not rush.
Thank you very much for sharing your experienced. By the way experience is the great teacher ever in the world toward ourselves. This kind of teaching is very powerful in our life that we always remember to take care every moment we do some activities especially business. Learnings so far is unforgettable. Then we should take care to our selves and before participating in one ico we should be strong.
Well said OP and it seems like you learned a couple of good life lessons along the way which is good. That is one thing I have been preaching a lot of lately, and that is this space can be extremely profitable but only if you hodl or don't pay attention to your emotions. Deviate from that and you will most probably suffer (unless you are good day trader).
It is very true what you are saying here, a lot of people think they are different but in reality they are not different at all. I guess everyone has to lose something before they learn how the things work, because only a very few people can do something good from the beginning. Even if you have a very good strategy created by a specialist in this domain on business, it is hard to follow it because you always want to do this differently in you own way because you think is better and you always want to make more profit because you think you are special and you can.
In everything we did, we must always think our limitations. We must always make things equally. Equal in a sense that it will not bring us harm or destroy one's life. Limitation is not the motto of the people, human does not have satisfaction. And that is one thing why we always lead in conflict because no one of us don't have the satisfaction. We are ruined by our own wants. Sometimes we need to know that living in Earth is enough.
yes, know your limits when you do something that it can be harm you or other people.. , you think first, not just once but twice before you do that,.. enough is ok at least u tried..
Well, to know our limits - in trading as in any situations - is a very important skill.
But be careful, in a lot of situations, we have false limits.
Does the limit really have that thing? What if you really gave everything but still nothings happen? Would you still call it a false limit? I think it is just a matter of experience in trading and a good technical analysis to really ride the flow of the market. But be careful, in a lot of situations, we have false limits.
Sometimes no matter how a product is good, the team is doing great and everything is perfect. Sometimes the market itself isn't perfect.
I agree. That basically applies to all investments, but what I see a lot here on this forum specifically, is how people believe to have found a goldmine ICO, which is purely based on the people behind the project and the idea/concept itself. They completely ignore all the variables that in some cases are even more important than the project itself. I have always found it weird to see people have so much faith in certain ICO's, while it still is nothing more than a gamble, just like all other ICO's. If people acknowledge and accept the risks of such an investment, then it's all good, even when things don't go according to plan.
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