Trading and financial planning. - page 2.

GelatikKembar

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Quote from: Rockstarguy on September 17, 2022, 12:57:08 PM

I get so surprised at time seeing people making plans to invest cryptocurrency with no stable income. They have this mindset because they think cryptocurrency can make someone to be rich.

Maybe because investing into crypto is a lot easier to anyone and does not require a huge amount of capital compared to other type of investments like real estate or establishing a business.

People that are new into crypto investments might really think that it can make them rich when they see some lucky people who earned a huge amount of money. They don't realize that not all crypto are going to give them the same profit, there are some crypto that can give more than 10x of your investment but it's very risky to put some money to it because you will only depend on hype to achieve that huge gain.

Whatever the investment, it will not be free from risk because it is part of the investment.
Crypto investing is better known for its high returns and high risk,
so before starting to invest in crypto it is very important to learn first

Yamifoud

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Quote from: Mahanton on September 22, 2022, 04:52:31 PM

People should be realizing up these things because there's no such thing about easy money on whatever investment or business you are dealing with which means that it does really involved risk which can potentially
lose up money if you dont know on what you are doing or simply doesnt really being mindful on applying those knowledge on the first place.Its normal that you should really be having plans on what actions
should really be executed on the time you had encountered various conditions or situations specially when we are dealing with very unpredictable market then it would really be that a normal action
to be taking unless if you do have that gambler like mind which doesnt really care at all.

Planning is very important in running a business. Because even though you have knowledge and skills but there is no direction to follow, it still makes no sense at all.

And aside from that, a proper execution will help a lot to success. Many people who run a business fail because of a lack of motivation and mindset. What they know most that after putting money it will grow after a few days but unfortunately, this never works in that way as many instances ROI will take months and sometimes years to see it. Likely, if we are impatient people, doubted if this is suitable for us because I believe we can't manage to handle stress and easily give up.

Mahanton

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Quote from: tygeade on September 22, 2022, 04:36:21 PM

Quote from: Desscount on September 22, 2022, 09:32:13 AM

Quote from: BobK71 on September 22, 2022, 01:02:20 AM

There is no substitute for trading as well as financial planning. A trader needs to be aware of these two things to make profit from trading. The risk of losing wealth in haphazard investments is definitely high. Moreover, no investment should be made depending on the temporary movement of the market. Due to the bearishness of the market, certain events will happen frequently, so a trader should not concentrate on that, he must remain steadfast in his destiny.

It's not easy, of course, to become a trader, like it or not, they need to keep learning and have a strong mentality,
In addition, risk is an integral part of investment.
the market will keep moving and that's why traders shouldn't concentrate on just one thing

No business that you work hard to make money could be considered easy, this one involves risk as well but all of them does which is getting fired. If you are working as an employee somewhere, then you need to be good at your job to earn a lot, but if you are a trader you are your own boss and could make money easily with this.

Like for example FED increasing rates was a known thing beforehand and it was clear that it would drop the price of bitcoin so it was an easy decision to short it, which made a lot of people a good amount of money. If you know what you are doing, it is not any harder work than being a good employee that earns a decent wage.

People should be realizing up these things because there's no such thing about easy money on whatever investment or business you are dealing with which means that it does really involved risk which can potentially
lose up money if you dont know on what you are doing or simply doesnt really being mindful on applying those knowledge on the first place.Its normal that you should really be having plans on what actions
should really be executed on the time you had encountered various conditions or situations specially when we are dealing with very unpredictable market then it would really be that a normal action
to be taking unless if you do have that gambler like mind which doesnt really care at all.

tygeade

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Quote from: Desscount on September 22, 2022, 09:32:13 AM

Quote from: BobK71 on September 22, 2022, 01:02:20 AM

There is no substitute for trading as well as financial planning. A trader needs to be aware of these two things to make profit from trading. The risk of losing wealth in haphazard investments is definitely high. Moreover, no investment should be made depending on the temporary movement of the market. Due to the bearishness of the market, certain events will happen frequently, so a trader should not concentrate on that, he must remain steadfast in his destiny.

It's not easy, of course, to become a trader, like it or not, they need to keep learning and have a strong mentality,
In addition, risk is an integral part of investment.
the market will keep moving and that's why traders shouldn't concentrate on just one thing

No business that you work hard to make money could be considered easy, this one involves risk as well but all of them does which is getting fired. If you are working as an employee somewhere, then you need to be good at your job to earn a lot, but if you are a trader you are your own boss and could make money easily with this.

Like for example FED increasing rates was a known thing beforehand and it was clear that it would drop the price of bitcoin so it was an easy decision to short it, which made a lot of people a good amount of money. If you know what you are doing, it is not any harder work than being a good employee that earns a decent wage.

Desscount

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Quote from: BobK71 on September 22, 2022, 01:02:20 AM

There is no substitute for trading as well as financial planning. A trader needs to be aware of these two things to make profit from trading. The risk of losing wealth in haphazard investments is definitely high. Moreover, no investment should be made depending on the temporary movement of the market. Due to the bearishness of the market, certain events will happen frequently, so a trader should not concentrate on that, he must remain steadfast in his destiny.

It's not easy, of course, to become a trader, like it or not, they need to keep learning and have a strong mentality,
In addition, risk is an integral part of investment.
the market will keep moving and that's why traders shouldn't concentrate on just one thing

BobK71

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There is no substitute for trading as well as financial planning. A trader needs to be aware of these two things to make profit from trading. The risk of losing wealth in haphazard investments is definitely high. Moreover, no investment should be made depending on the temporary movement of the market. Due to the bearishness of the market, certain events will happen frequently, so a trader should not concentrate on that, he must remain steadfast in his destiny.

wxa7115

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Quote from: TheGreatPython on September 15, 2022, 08:32:59 AM

Quote from: BuNga_cute on September 09, 2022, 10:17:31 PM

Many people when trading are too obsessed with profit, therefore when the market goes bad, it will make many people panic and make wrong decisions. After that in a state of stress most people still try to trade to cover losses that were previously experienced. That kind of thing will make the losses even bigger and eventually make us depressed, if trading like that. In fact, when trading our emotions must be controlled, so that we remain calm even though the market situation is deteriorating. And do not force trading if we are not in a good emotional state, because trading requires calm and high concentration, to be able to make the right decision.

That panic is the reason why most people lose money. If you do not panic and you stay calm and follow a path then you will make money. Bitcoin is not some small time company that may or may not take off, it is one of the biggest assets in the entire world and if you do not feel comfortable investing in it when it is low, then you shouldn't be investing into it at all.

I personally love it and I feel like the best thing to do about crypto right now is to make sure that we profit from it by buying low, so instead of getting scared when I see a lower price, I get happy about it because it means I can buy cheaper when it is low, and sell it when it goes up.

The main reasons why people lose money in the markets are their ignorance and that they let their emotions to take control of their actions, as you state bitcoin is not a small project which could disappear overnight, bitcoin is the greatest innovation when it comes to money we have seen during the last centuries.

Bitcoin is changing the concept of what we understand as money and this will have great effects on our society during the next decades, so it is important that whenever we buy bitcoin we do so with the intention of holding it for the long term.

Rockstarguy

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Quote from: Lida93 on August 31, 2022, 08:08:42 AM

Many persons fail to give importance to financial planning in same vein they do with profit making in their trades. The hidden truth here is that, the profit you making in your trades or investments can't be felt or recognized without a thorough financial planning system, and that is what makes the former and the latter inseparable (symbiotic) when it comes to building wealth.

Financial planning is very important. I get so surprised at time seeing people making plans to invest cryptocurrency with no stable income. They have this mindset because they think cryptocurrency can make someone to be rich. In every investment Financial planning is important for investors. Financial planning helps investors to invest in what they can afford to lose. It is very sad that most beginners that wants to invest cryptocurrency make no financial plans.

hashrateproducts

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Quote from: BuNga_cute on September 09, 2022, 10:17:31 PM

Many people when trading are too obsessed with profit, therefore when the market goes bad, it will make many people panic and make wrong decisions. After that in a state of stress most people still try to trade to cover losses that were previously experienced. That kind of thing will make the losses even bigger and eventually make us depressed, if trading like that. In fact, when trading our emotions must be controlled, so that we remain calm even though the market situation is deteriorating. And do not force trading if we are not in a good emotional state, because trading requires calm and high concentration, to be able to make the right decision.

Crypto can either make one happy or sad. Tradinged the ability for us to control ourselves when losing. It's risky but one can manage his or her risk or study risk management when trading. Emotions goes along with trading, when one is angry and you open a position there is every tendency that you might lose your trade and sometimes you verge on bouncing back and the market trapped you. I have been in that situation countless number of times and I now know how to deal with it.

TheUltraElite

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So anyway, I applied as a merit source :)

Quote from: GeorgeJohn on September 12, 2022, 01:05:51 PM

Their no two way to think about it, because it's obvious that health are the one of the primary things that gives us money, because when you are not health fit, it's very clear that you will be unavailable and unable to do the needful at appropriate time schedule. Using some of our forum mates and Cm as example, when your health status is poor nothing will make you to function well, so irrespective of your engagement and how much someone realize weekly and monthly our health should be the primary thing to work on.

Health is wealth my fellow forum mates. Dont ignore that and only focus on making money, it will not work. Being engrossed in trading while ignoring your own health is deleterious over the long term and hence there needs to be something to keep these habits in check.

There are people who enter trading with an ambitious mindset but get trapped in their own web of expectations. But dont forget that the friends, family and your own health have a big importance over your productivity.

Not having a healthy lifestyles leads to many problems that could be prevented and dont let making money start one of them.

TheGreatPython

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Quote from: BuNga_cute on September 09, 2022, 10:17:31 PM

Many people when trading are too obsessed with profit, therefore when the market goes bad, it will make many people panic and make wrong decisions. After that in a state of stress most people still try to trade to cover losses that were previously experienced. That kind of thing will make the losses even bigger and eventually make us depressed, if trading like that. In fact, when trading our emotions must be controlled, so that we remain calm even though the market situation is deteriorating. And do not force trading if we are not in a good emotional state, because trading requires calm and high concentration, to be able to make the right decision.

That panic is the reason why most people lose money. If you do not panic and you stay calm and follow a path then you will make money. Bitcoin is not some small time company that may or may not take off, it is one of the biggest assets in the entire world and if you do not feel comfortable investing in it when it is low, then you shouldn't be investing into it at all.

I personally love it and I feel like the best thing to do about crypto right now is to make sure that we profit from it by buying low, so instead of getting scared when I see a lower price, I get happy about it because it means I can buy cheaper when it is low, and sell it when it goes up.

wxa7115

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Quote from: Mpamaegbu on September 12, 2022, 03:02:41 AM

Quote from: Ziskinberg on September 11, 2022, 07:29:01 AM

Perhaps OP, planning and execution are all we need to have a successful trading life as this it serves as a guide to where we do.
But unfortunately, it found out that in many cases, we ruined our plan due to some reasons like discouragement, change of mind, and being impatient. We must have to know that there is no easy money in crypto, even though we have this plan it doesn't mean that we are already secure and surely make a profit, and to note that decision-making will also affect the results of our plan and this is mostly a reason why we fail.

In addition to all you said, having the set skills for trading is paramount. The skills for the job here is what many traders downplay and they eventually pay for it. I've had my fingers burnt too on this. We can blame instructors or mentors who always like coating the idea of trading to look like it's a shortcut to easy riches. They tell you how easy they pull out earnings on daily basis from trading, they screenshot and doctor trades to suit their narratives with the aim of hoodwinking unsuspecting public. They're profitable on pictures but not on platforms they trade. Traders should be weary of such salesmen who have proved themselves not to be real traders.

Learning and having set trading skills are a necessity.

This is very good advice, if you really begin to investigate you will notice that a great deal of the people that publish books about trading do not trade for a living, so how is it possible that they try to teach other people how to become successful in the markets when they are unable to do this on their own?

And if you begin to dig even further you will notice that even those which have a long history of trading have gone bankrupt several times as well, so the lesson we need to learn here is that your desire to learn how to trade is not enough, you also need to check the sources you are using or all that effort will be for nothing.

GeorgeJohn

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Quote from: kapalmabur on September 11, 2022, 06:03:17 PM

Quote from: GeorgeJohn on September 11, 2022, 01:32:22 PM

Quote from: AmoreJaz on August 31, 2022, 06:02:38 PM

most people come to their senses that they disregard their health once they are already feeling at their worst condition. so yeah, i can fully agree that if you plan with things, you need to think about your health. because you can't do all the things that you planned if your health is deteriorating. you can all have the money in the world but if your health is suffering, all your earnings will be useless.

Really i wasn't interested to react on this but since it have to do with health i have to respond. Health is the source of making well on all ramifications of life, if your health status is in abnormal state, there's nothing you will do that make you to achieve your objectives. So it's important to someone to take care of it's health first before thinking of money, because from my definition or perspective a good health is money. So we all suppose to have it in the skull and take care of our health.

I quite agree and basically all things we can do smoothly from a healthy body,
so maintaining health is certainly the main thing,
I think everyone should be aware of that by not forgetting about their own health

Their no two way to think about it, because it's obvious that health are the one of the primary things that gives us money, because when you are not health fit, it's very clear that you will be unavailable and unable to do the needful at appropriate time schedule. Using some of our forum mates and Cm as example, when your health status is poor nothing will make you to function well, so irrespective of your engagement and how much someone realize weekly and monthly our health should be the primary thing to work on.

Mpamaegbu

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Quote from: Ziskinberg on September 11, 2022, 07:29:01 AM

Perhaps OP, planning and execution are all we need to have a successful trading life as this it serves as a guide to where we do.
But unfortunately, it found out that in many cases, we ruined our plan due to some reasons like discouragement, change of mind, and being impatient. We must have to know that there is no easy money in crypto, even though we have this plan it doesn't mean that we are already secure and surely make a profit, and to note that decision-making will also affect the results of our plan and this is mostly a reason why we fail.

In addition to all you said, having the set skills for trading is paramount. The skills for the job here is what many traders downplay and they eventually pay for it. I've had my fingers burnt too on this. We can blame instructors or mentors who always like coating the idea of trading to look like it's a shortcut to easy riches. They tell you how easy they pull out earnings on daily basis from trading, they screenshot and doctor trades to suit their narratives with the aim of hoodwinking unsuspecting public. They're profitable on pictures but not on platforms they trade. Traders should be weary of such salesmen who have proved themselves not to be real traders.

Learning and having set trading skills are a necessity.

andriarto

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Quote from: kapalmabur on September 11, 2022, 06:03:17 PM

Quote from: GeorgeJohn on September 11, 2022, 01:32:22 PM

Quote from: AmoreJaz on August 31, 2022, 06:02:38 PM

most people come to their senses that they disregard their health once they are already feeling at their worst condition. so yeah, i can fully agree that if you plan with things, you need to think about your health. because you can't do all the things that you planned if your health is deteriorating. you can all have the money in the world but if your health is suffering, all your earnings will be useless.

Really i wasn't interested to react on this but since it have to do with health i have to respond. Health is the source of making well on all ramifications of life, if your health status is in abnormal state, there's nothing you will do that make you to achieve your objectives. So it's important to someone to take care of it's health first before thinking of money, because from my definition or perspective a good health is money. So we all suppose to have it in the skull and take care of our health.

I quite agree and basically all things we can do smoothly from a healthy body,
so maintaining health is certainly the main thing,
I think everyone should be aware of that by not forgetting about their own health

Many people think that health is the most valuable asset for us. Many people have a lot of money but they can't eat good food, because of health factors. with a healthy body, there is a strong soul so that you have clear thoughts, so we are here in the market world, can control ourselves and respond to the market more relaxed. time is not only in front of the computer, we also need refreshment and also exercise to maintain stamina, besides that sleeping patterns and eating patterns must also be maintained properly

kapalmabur

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Quote from: GeorgeJohn on September 11, 2022, 01:32:22 PM

Quote from: AmoreJaz on August 31, 2022, 06:02:38 PM

most people come to their senses that they disregard their health once they are already feeling at their worst condition. so yeah, i can fully agree that if you plan with things, you need to think about your health. because you can't do all the things that you planned if your health is deteriorating. you can all have the money in the world but if your health is suffering, all your earnings will be useless.

Really i wasn't interested to react on this but since it have to do with health i have to respond. Health is the source of making well on all ramifications of life, if your health status is in abnormal state, there's nothing you will do that make you to achieve your objectives. So it's important to someone to take care of it's health first before thinking of money, because from my definition or perspective a good health is money. So we all suppose to have it in the skull and take care of our health.

I quite agree and basically all things we can do smoothly from a healthy body,
so maintaining health is certainly the main thing,
I think everyone should be aware of that by not forgetting about their own health

GeorgeJohn

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Activity: 1498

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Cryptocurrency is power

Quote from: AmoreJaz on August 31, 2022, 06:02:38 PM

most people come to their senses that they disregard their health once they are already feeling at their worst condition. so yeah, i can fully agree that if you plan with things, you need to think about your health. because you can't do all the things that you planned if your health is deteriorating. you can all have the money in the world but if your health is suffering, all your earnings will be useless.

Really i wasn't interested to react on this but since it have to do with health i have to respond. Health is the source of making well on all ramifications of life, if your health status is in abnormal state, there's nothing you will do that make you to achieve your objectives. So it's important to someone to take care of it's health first before thinking of money, because from my definition or perspective a good health is money. So we all suppose to have it in the skull and take care of our health.

justdimin

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Quote from: awik p on September 09, 2022, 07:38:54 AM

psychology occupies the largest percentage in determining trading success and the second determinant is financial management, this also has a big role in maintaining asset stability, thus keeping psychology calm. while TA is the third determinant, although trading techniques can be learned in a short time, but it will not necessarily guarantee our trading success without financial management and psychological management. so that all three can influence each other

Influence of psychology part is not that easy, not many people could control their own mental state and that results with them usually losing money. I believe that the best way to make money is to find a good working strategy and then keep doing that without any mistake.

Simplest one I know is buying and holding, you may think it is simple but there are so many people who gets scared and sell when they wanted to hold and they lose money, whereas I get to keep it long term and always end up in profit, no matter what happens. Find the right strategy for you and keep doing that, eventually you are going to end up profiting a good amount without a worry, just do not stray away from it.

Ziskinberg

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For campaign management look for Little Mouse!

Perhaps OP, planning and execution are all we need to have a successful trading life as this it serves as a guide to where we do.
But unfortunately, it found out that in many cases, we ruined our plan due to some reasons like discouragement, change of mind, and being impatient. We must have to know that there is no easy money in crypto, even though we have this plan it doesn't mean that we are already secure and surely make a profit, and to note that decision-making will also affect the results of our plan and this is mostly a reason why we fail.

ethereumhunter

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Maybe each person will be different in preparing their financial plans because they also have differences in making money every month. But I'm sure they can make a financial plan for investment and not interfere with the list of other plans. The more we can put together a financial plan and execute it according to plan, the more definitely we can have a way to make money trading.

In trading, we must have a plan of how much funds we use so we do not cross the line. And don't forget to keep learning about trading because that's how we can improve our trading skills.

Topic: Trading and financial planning. - page 2. (Read 809 times)