Patience is power - page 8. | Bitcointalksearch.org

Kelward

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Quote from: Finestream on January 15, 2024, 07:32:23 PM

Patience is always the key not just in long term hodling, in trading, but even in studying and understanding the forum as well. If you are patient, you will absorb all the information needed to make you a quality poster, a good investor and a reliable trader as long as you do your own diligence to research and study. So I totally agree on you OP, not just newbies but all those who want to take risk in the crypto space should have high patience to gain their innermost desires and goals set upon entering crypto.

Patience should be a virtue whenever a person is doing any crypto transactions, it's required in trading, because to know the perfect time to enter the market, in order to minimize loses, patience to put money in a new project, because it can be scam, very important to carry out thorough research first, patience to hodle your coins till it hits the perfect price in bull run before considering to sale. I'm happy for the OP for taking advantage of the experience of knowledgeable members to maximize profit and minimize loses, in his crypto trading.

suzanne5223

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Quote from: JMBitcointernational on January 15, 2024, 10:30:58 AM

Initially before this forum , I was active in trading crypto which sometimes my analysis will enter for me and I will make some money and at a point the phobia of loss enveloped my thought and I stopped trading crypto because of series of losses

You're not the only one. Stats show that about 75% of crypto traders stop trading along the line due to losses and they mostly happened because they trade against the market trend, no risk management, and no stop losses. Another reason is that crypto trading is not meant for them.
I know a majority of people never had such an impression about crypto trading but it's something that's not meant for everyone and investors/traders should always research about the area they fit in.

Quote from: JMBitcointernational on January 15, 2024, 10:30:58 AM

but when I joined the forum ( bitcointalk) I read a thread that talked about patience and that all the newbies should Hodl coins instead of trading and that they should go through what the high ranked members post before making their own post

Normally, you have to read, the previous discussion on the thread you wanted to post in so your post won't be off-topic or won't be about the discussion that already concluded but not all high-rank member's posts should determine your decision. You have to do your research first because some posts contain misinformation.

Finestream

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Patience is always the key not just in long term hodling, in trading, but even in studying and understanding the forum as well. If you are patient, you will absorb all the information needed to make you a quality poster, a good investor and a reliable trader as long as you do your own diligence to research and study. So I totally agree on you OP, not just newbies but all those who want to take risk in the crypto space should have high patience to gain their innermost desires and goals set upon entering crypto.

Egii Nna

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What an educational and interesting story! Actually, being patient is the key to success, which is what many people find hard to maintain. Although some people just want to make it in this life the faster way, which is one of the most dangerous ways, if you are patient, you will find out that your mind is always at the stage of rest, which is the best way to help wherever you find yourself.

There is an interesting point that I see in your topic that most of the newbies find hard to adopt, and it is the only way to follow if you really want to succeed in this forum, which is following the foot steps of those above you and at the same time engaging in reading of their past articles and research. This will give you a great understanding and provide you with the knowledge you need to achieve your aims both in life and in this forum.

Furthermore, it will help you find out what is known to the unknown, which is the same thing as those things you have already heard about, to those you haven't heard about, with an effective explanation that you will never think of getting about those things (which am directing to cryptocurrency).

Odusko

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Quote from: JMBitcointernational on January 15, 2024, 10:30:58 AM

Initially before this forum , I was active in trading crypto which sometimes my analysis will enter for me and I will make some money and at a point the phobia of loss enveloped my thought and I stopped trading crypto because of series of losses but when I joined the forum ( bitcointalk) I read a thread that talked about patience and that all the newbies should Hodl coins instead of trading and that they should go through what the high ranked members post before making their own post and after going through series of threads I decided to read as much as I can and to hodl as much as I can and now all my technical analysis are going towards my direction and the chances of loss has reduced however, I thank all the High ranked members for their advice and at same time ,I urge all the newbies to be patient enough to read more post before posting .

Trading comes with alot of stress and risk just like gambling and this should be carefully looked at at some point and for that if tou are trading, tou should be ready to lose money and for that one need alit of patients and also trade with amount you can afford to lose and still continue with, because before you can profits un trading, tou need to have developed alot of skills that comes with a long time of experience in the field.
The inability of newbie traders to properly identitfy the core fact that, trading is not a get rich quick scheme so they shouldn't expect to make profits at the very start without putting much efforts into what we call time for development and skills building, this is one of the most vital aspects in trading and same also with all other high-risk 3activities such as gambling.

sunsilk

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That's a good story from you then. It's an helpful tip from most of us that if you just want to stay calm and chill while waiting for some decent gains, you just have to hold.

You don't have to go what others are doing like trading and monitoring the market all day long as that's their forte. If you know that your forte isn't like that, you need not to effort a lot but to accumulate and hold.

Look at the investors that have been holding Bitcoin for so long, they all have common things to say and that's to be patient, hold and accumulate more.

Aanuoluwatofunmi

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Quote from: JMBitcointernational on January 15, 2024, 10:30:58 AM

Initially before this forum , I was active in trading crypto which sometimes my analysis will enter for me and I will make some money and at a point the phobia of loss enveloped my thought and I stopped trading crypto because of series of losses but when I joined the forum ( bitcointalk) I read a thread that talked about patience and that all the newbies should Hodl coins instead of trading

You're not loosing on trades because you're a newbie, or because you are afraid of what may comes in next, don't also take being patient as the reason enough for you to use in making profits whenever you're into trading, many people lost because they don't have an idea of what they are doing and that alone completely render them inexperienced to be qualified being whom they thought they were.

Porfirii

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Good advice, Hatchy.

About giving thanks to high ranks in general, HODLing is very common among Bitcoiners, not only among those who have been in the market for years. I guess that the best advice you received were given by Hero and Legendary members, and that's why you said that, but not every Legendary hodls, and not every newbie likes trading.

On the other hand, don't forget that hodling is risky too. But, if you are confident in Satoshi's project for the long run, then IMO doing nothing with your sats is way better than applying the pseudoscience of TA. TA is good for those who want to make money fast and don't care about the probability to lose their funds, and it is compared to gambling by several users in this forum.

Hatchy

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Quote from: JMBitcointernational on January 15, 2024, 10:30:58 AM

~snip

Wow mate, that was one of a post. Did you forget to add your punctuations? You still have a lot to learn mate. You should try to use punctuations where possible in your post as it makes your write up easier to read. Some members will find your post a bit annoying and you should avoid using more of the word AND to connect a full stop.

As regards your post, you are lucky to have made the right decision and joined this forum. Trading is a risky investment for anyone who doesn't understand how. Even experience traders will tell you that they also make losses and if you must go into trading, you should have more experiences and be able to bear the risk.You should be more concerned about HODLING for now as a newbie and it will help prevent you from further losses of your funds. Just as you've said, learning from this forum is easier when you give time to study.

JMBitcointernational

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Initially before this forum , I was active in trading crypto which sometimes my analysis will enter for me and I will make some money and at a point the phobia of loss enveloped my thought and I stopped trading crypto because of series of losses but when I joined the forum ( bitcointalk) I read a thread that talked about patience and that all the newbies should Hodl coins instead of trading and that they should go through what the high ranked members post before making their own post and after going through series of threads I decided to read as much as I can and to hodl as much as I can and now all my technical analysis are going towards my direction and the chances of loss has reduced however, I thank all the High ranked members for their advice and at same time ,I urge all the newbies to be patient enough to read more post before posting .

Topic: Patience is power - page 8. (Read 1471 times)