What is the best advice you ever heard in case of investments and all - page 10.

mersal

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Quote from: fiulpro on July 27, 2019, 10:22:53 AM

Hey
Well let's start , everyone please feel free to share the best advice they think is what made them what they are today in terms of investments .
I think learning about managing your money can never be easy , but maybe we can make this a thread worth reading by the new investors and even the old ones ..never hurts to redefine your strategy.

As for me it was
*You never loose until you cash out*
Taught me patience.

The book called rich dad vs poor dad made me realize that why we need to e an investor if we want to be rich,and also need to make investments based on the returns of risk taking simply risking on random investment will make us poor in no time.

audaciousbeing

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The best advise I have received was the one I gave myself in other to be sane in this crypto market which is "only sell when you are physiologically ready for what happens next". The crypto market is very volatile that you might have been waiting for the right time to sell and then you ran out of patience only to sell and the next few hours see some up shoot in price and you blame yourself on why you should have waited a little longer but with that advise I gave myself, I am always at peace anytime a sale is made whether it rises or falls afterwards.

Upgrade00

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My personal favorite is, everything is a scam, until proven otherwise. It showed me the inherent danger in the financial investment space, and was an encouragement to always research on every detail of any project. And also not to be too trusting of white papers, road maps, trading volume or market movements (pump and dump).

exstasie

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Quote from: fiulpro on July 27, 2019, 10:22:53 AM

As for me it was
*You never loose until you cash out*
Taught me patience.

I never liked this one. Bagholders of countless assets (from shitcoins to penny stocks) have suffered dearly for not cutting losses early enough. There should be some sort of caveat about the fundamental strength of the asset. Maybe it's okay to baghold BTC but it's definitely not okay to just baghold anything.

There is a related (but IMO superior) adage that goes "Buy right, Sit tight." Once you've bought right i.e. done your due diligence and bought into an asset with extremely strong fundamentals, then you can sit tight and wait out the volatility. The idea is you can't necessarily beat market volatility, and you need to give the market time to let your fundamental analysis work.

But for example, if you've bought into a vaporware shitcoin, you haven't bought right to begin with, and you should expect that your capital might evaporate entirely given enough time.

dkbit98

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We can all agree that so far best advice was to buy and invest in Bitcoin,
especially in its early stages from 2007 onwards...

http://historyofbitcoin.org/

CryptopreneurBrainboss

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Here's one very important one for you, smart investors/traders make profit when they buy and not when they sell. This advice was given by Robert Kiyosaki in his best selling book, Rich Dad Poor Dad. Actually the advice was given to him by his friend's dad which he calls Rich Dad. If you're smart enough you would see some actual sense in this investment advice, while the average traders/investors only cares about the profits he/she make when they sell an asset, a smart ones put into consideration what's their gains when they buy. This is why smart investors buy when market is down.

kingpin4321

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Never follow the crowd that is my number one advice I cherish I was not good wrong too often following that advice. My unwillingness to investing because my know it all, Mr investment or every investor is rushing keeps me on track.

Oceat

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Well, a friend of mine told me that to never invest in something that you don't understand that's why i have to listen to his advice carefully while i did my own research too. Although he has told me that investment is very risky but at the same time it is worth it to invest too if it succeeds.

TheCoinGrabber

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"Buy low, sell high". Sounds simple but it's absolutely correct. It's not always easy to do but it's the only real way you can be sure of at least getting some profit. Assuming you exit at the right time, that is.

Another would be "If you don't know about it, don't invest". If you only heard about an opportunity from friends or the media, it's likely that it's nearing bursting level and you might end up selling at a loss later when it does collapse.

Quote from: fiulpro on July 27, 2019, 10:22:53 AM

As for me it was
*You never loose until you cash out*
Taught me patience.

I worked at a store so I know that this don't always work. Things get near their expiration date and you have to lower the price to get back the capital. Sometimes even selling it at a loss rather than get stuck with useless merchandise.

There are times that the only thing you can do is at least get back a part of the money you placed in a sinking investment. Cutting losses.

Note that this is if you are SURE it's never going to recover. Many people panic when bitcoin goes down and start selling and that was what they get wrong.

Saisher

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Quote from: dkbit98 on July 27, 2019, 10:29:31 AM

Quote

'Never invest more than you are willing to lose'

I agree on this because no investment is safe and we can all lose even though we think we are 100% sure of our investment, once you invested in something, just hope that it will favor you, investing is a great tool to make residual income.

The Sceptical Chymist

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Quote from: fiulpro on July 27, 2019, 10:22:53 AM

*You never loose until you cash out*

I never subscribed to that one myself, but I hear it a lot around these parts.

"Buy low, sell high" is the gold standard of investment advice--it sounds ridiculously obvious, but many traders/investors don't have the balls to buy something when the price is low. You've seen all the people jumping on the bandwagon once bitcoin starts to shoot up, and they end up buying it at the top. Why do you think Warren Buffett made all the money he did? He's smart enough to recognize when stocks are on sale, and it's the same thing with crypto.

Other good advice I've heard is not to take tips from people. Another is to try to control the emotions of fear and greed when trading. I'm not really an active trader, but that advice makes a ton of sense to me.

dkbit98

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Quote

'Never invest more than you are willing to lose'

fiulpro

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Hey
Well let's start , everyone please feel free to share the best advice they think is what made them what they are today in terms of investments .
I think learning about managing your money can never be easy , but maybe we can make this a thread worth reading by the new investors and even the old ones ..never hurts to redefine your strategy.

As for me it was
*You never loose until you cash out*
Taught me patience.

Topic: What is the best advice you ever heard in case of investments and all - page 10. (Read 1503 times)