Topic: Patience is power - page 7. (Read 1471 times)

Giving up is one of the killers of dream and sometimes, even if things are not going in our favour, we still need to keep going and making sure that we attained a possibly good position that will end us up on good position, instead giving up along the way because of temporary challenges and set backs that comes along the way up, but one more thing that can also influence our giving up thought's is the fact that we need motivation to chase a particular direction, trading requires such motivations.


Trading is like gambling and sometimes we run out of balance to continue gambling, but if we can manage ourselves through that phase, it can result in a more stable and experience build trading journey and future, so persisted is key and motivations is always needed to continue.

Thanks for sharing your experience here, OP, to benefit beginners. Indeed, what you did in the past was the biggest mistake any beginner commits, which is entering the field of trading without providing himself with sufficient knowledge, experience, and the necessary tools in order to be able to protect his capital and reap profits. The trading field requires a seasoned trader proficient in technical and fundamental analysis and has strategies and more. Although it is a profitable field, it is high risk and is not taught overnight. It requires effort, time, and access to reliable sources to provide and educate you with all the matters it contains.

As for hodling your currencies with patience, it is indeed an ideal solution. However, you should also not invest all of your capital. If you have enough patience, you have gained one of the magic keys to make you achieve returns from your investments. During this time, you can learn and develop your trading skills, but in the beginning, the experience should be on demo trading accounts until you become qualified to move forward and invest your funds.

Obviously, there is risk every where one turns but, you’ve got to mitigate what you can when you find it. For OP, having to quite trading for phobia of loss might be it for OP of which, I don’t see how running away from the problem solves the problem. The problem just goes ahead of you to wait for you, that’s what OP haves to realize
Having to quite all you know is one way to forget all you already know.

Even more so, having to leave trading to concentrate on holding Bitcoin isn’t exactly a bad thing, it at least ensures the safety of your coins and you have your mind at ease while trying your hands on other means to earning and acquiring knowledge but, having to quit doesn’t solve the problem..

Indeed, this forum has been great source of education and learning for all of us and everyone gets to learn a lot over here because name any issue you will be able to find it and it's solution or a way around for that and if not once we post anything on which we need help we get expert advices on it which helps us in making right decision. I am glad you have achieved something and this forum has been one of the contributing factor for it. But it's not only like high ranking members posts knowledgeable stuff but I have seen some newbies sharing really knowledgeable stuffs because they might be newbie into the forum but not to crypto industry. Let's keep up the momentum and keep sharing knowledges which will help others.

Aside from patience a continuity of solution is a must for someone to learn too. Yes we did some wrong or mistakes in the past of course we learn from that and also we must act and probably not do it again not we already made a mistake and still doing that again what happened on that right?

Anyway newbies will have their own their experience towards this and posting is the best teacher about that and dont ignore criticisim or taken to heart cause learning from mistakes is the best acknowledgement that we are indeed maturing as a user.

Patience is a powerful tool that, when used correctly, pays off. Don't confuse time wasting with being patient because so many people don't understand what it means to be patient. Being patient does not imply that you should not conduct research or learn more about a specific subject matter; waiting to become perfect in it is equivalent to wasting time reaping what you did not sow.

Trading is risky, while holding is less risky, depending on what you choose to hold onto. When you seek professional advice and apply it to becoming the best version of yourself, things will work out for you. There is no magic to learning, and you can only become perfect at something if you practise it consistently. Your patience and hard work have paid off, so enjoy your progress in trading as you strive to improve yourself.

Trading is the risky part while on the other hand, holding is less risky I would advise to you start holding if you are new in the crypto industry.
I would like to give you some tips that may help you in the crypto industry. you need to work on them if you are a newbie:

• Do less trade instead hold it for the long term.
• you need to work on risk management.
• You need to avoid impulsive decisions.
• Patience
• DYOR (Do Your Own Research) will help to verify any project or information.
• Learn TA (Technical Analysis)
• Learn FA (Fundamental Analysis)

These are some tips and i hope you will find more if you keep reading informative threads in B&H section. Many Thanks

To be successful in anything in life patience is a non-negotiable virtue. If you are in a haste to achieve anything, you might not achieve much. The reason why you lost so much in trading was because you don't have the requisite skill and experience to succeed in that area. Many traders in the cryptocurrency market are doing well because they are well-informed. Hodling Bitcoin is another section of Bitcoin Investment and it needs lots of patience because it is profitable when it is kept for a long time. Within the period of keeping your funds, you will face different temptations or pressures to sell your coin that's why patience is important. Most newbies make the mistake of investing without learning and this might lead to losses. So I am happy that you have dedicated much time to learning from the forum..

Glad you now know that trading your coins for extra profits is very risky and I doubt that since you have traded the profits would be greater than your loses, the loses is always bigger and that's why I don't like trading that much, I have seen people claim that trading is good if you are an expert but the truth is that the ratio of uncertainty is very high and that's why practically having a peace of mind and saving your coins will always be better than gambling your precious coins for some temporary profits that if care is not taking will still lose it back in a bad day of your trading session.

Patience is power, Patience is a virtue. Let me use my experience in this forum as an example.

I was introduced into this forum by a brother and honestly it was very hard for me to keep up because a Nigerian I felt like I was wasting my time especially when I had pressing matters at hand to settle, back then I had zero patience, imagine telling a grown man with a family to start reading and learning like am in secondary school and everytime I complain that it's too much for me to handle he would always tell me to be patience, read more and learn, and right now I have patience in abundance. I've learnt patience and tolerance here in this forum as I strongly believe that's the only way to grow and succeed not only in this forum but in real life as well.

Talking about trading, patience is highly needed in abundance in order to know the perfect time to enter the market and also minimize loses, patience is needed to know when and where to sell your coins, trading is like gambling and it requires patience.

But like I said before, every thing presents risks.  Going outside is a risk.  Laying in bed is a risk.  Holding Fiat is a big risk.  Trading is a big risk.

It is always all about choosing the smaller risk.  Going outside but using the sidewalk to avoid being ran over by a car.  Trading only money you would accept losing on such a thing.  Holding Fiat but making sure there are backup plans and investments too.  Choosing to hold on to Bitcoins is the least risky option and this is proved by its price history.  You can not lose any thing if you hold an Asset whose value only increases over time.

It is something I won't stop telling people I come across in my daily interaction that trading is not for everyone. If you can't afford to lose money, to be patient, learn and gain a long time experience ( both personal experience and from others in the business before you)  then trading is not for you.

Aside from crypto trading and hodling even in other live investment and businesses it requires a lot of patience to work on your plan and stay put before you start making success, success doesn't happen overnight it's a due process which has to do with patience, knowledge and hard work. There's no short cut to good success except you want to go illegal which eventually you will be caught then lose it all and get back to square one.

Everyone who genuinely wants to succeed in life will most likely be patient since doing ordinary tasks exceptionally well is the key to achievement. If not he won't be able to accomplish anything he sets out to do. To prevent losing what he didn't consider, it is therefore wise for someone to start anything with patience. We should therefore be the tool we use to defeat ourselves in order to succeed.

Especially when it comes to trading or investing, we should act appropriately when the moment is opportune. It is advisable that we seek advice from someone with extensive knowledge of the various coins to ensure that our decisions are well-informed. For it will be their advocates and mentors who will steer your path to financial success.

Being patient is linked to proper investment. I cannot ask someone to buy LUNA and tell him to be patient, you will make crazy profits. Even if this happens, this does not mean that patience is good, just as happened with SOL. It is true that traders have made profits, but whoever does not sell may regret it in the future. Patience comes from investing in Bitcoin, not any other cryptocurrency. Even Ethereum does not have a good long-term ETH/BTC profit record.

I think I have to agree to disagree with this statement. While holding coins can be good, not all projects are worth the HODL. It's crucial to be cautious, especially with new projects lacking a proven track record; they might pose risks like scams or rugpulls. Risk management is key. Established coins like BTC, ETH, Solana, Matic, BNB carry a better reputation and are likely safer to HODL, even in downtrends. There's a chance these established projects can bounce back or even see significant growth. It's about striking a balance between potential gains and minimizing risks, especially when dealing with newer or less-known assets.

Investing in bitcoin for a long-term needs patient, for you to be able to reap the compounding profit from your bitcoin investment. This is why during the period of hodling, it gives you time to grow your investment to a certain height. Traders are not the patient type and they are after quick profit from every fluctuation in bitcoin price, they end up making the wrong decisions and run at loss because it is hard to predict bitcoin price movement. This is why hodlers are winners and most traders are lossers because they think that they are smart enough to make profit in short-term. However, it is not easy to be a successful hodler when you are not prepared for it, and this is where many investors who tend to hodli their bitcoin investment ends up selling it due to lack of emergency funds prepared down for any emergency that occur during their hodli period. To be able to hodli for long, you don't need the technical analysis, all you need is to ha e a reserve funds and an emergency funds available, so take care of any expenses that arises during your bitcoin journey. Also it is not wise to hodli alone as a newbie, but you use also buy bitcoin regularly maybe weekly or monthly using DCA method so that you can increase your bitcoin investment. This is because the profit that your investment will generate depends on the size of your bitcoin portfolio, and the time line, you can use 10% of your monthly income to buy regularly or 5%, it depend on your income and your monthly expenses, that will enable you to know that exact amount that you can use to buy without stress or pressure on you.

According to the heading of the thread, "patience is indeed power" and you should have exercised a little bit of it with him. While you may be perfect in some areas, it's not the same for the next person and atleast he made his point across even though he didn't punctuate his words. And just like @Upgrade said, it's not everyone who will find it annoying and if you had meant to correct him, you should have used a PM. Well, that's besides the point.

 In life, it's important to be patient as it helps to curb a lot of things; hasty decision making, wrong investment plans and the rest and in your case, you learned to hodl instead of rushing to  sell at the slightest opportunity.
It's always important to give yourself to learning about something before indulging in it so you have a better understanding and Bitcoin trading is no different, so you avoid unnecessary losses.
 Yunno, its one thing to say 'now I have given my self to reading and learning ' and another thing to continue doing because sometimes we feel we've known enough to begin our trading journey but we haven't and as such end up making mistakes that could bring us back to square one.

Still, advice you to keep learning about trading, you don't have to use a lot of money in trading, that's the mistake that most beginners do, they always want to make big money, gradual learning makes you a pro faster than someone who have money on their mind.

Now that you are buying these assets and holding for long term, which of cos will reduce your stress and risks, it's also a good time to give your all to learning, trading isn't that bad if you are good at it, and I believe that you need a professional trader to learn from, there are tools that will improve your skills, but you need to do your own research to know more.

Keep your recovery seed safe, you don't want to end up losing everything to scammers when the real bull market is very close, imagine all the stress of DCAing every week and ending up losing everything to scammers, knowledge is power, never stop seeking.

I don't think anyone should find it annoying. Not everyone here is a native English speaker, so even being able to string up some legible words together is a good enough feat. As long as we can understand what's written, that's good enough.

Patience is a very powerful thing in crypto. Patience is the only thing that allows us to invest in crypto. With patience, we can sustain our losses that once we get impatient then we will continue to lose but since most of what is patience in crypto and also we should not panic because whenever we get a token or an entry In trading, then we should show patience and tolerance to the fullest, see that if we take any token, it will go down and up some time it will give us small loss but if we will continue our patience then the small loss will change in big profit.