Topic: Patience is power - page 9. (Read 1807 times)

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.

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.

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.

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.

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.

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).

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.

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.

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.

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.

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.

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 .