You win or you learn. - page 8. | Bitcointalksearch.org

Fortify

legendary

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Quote from: DVlog on June 20, 2022, 02:24:04 AM

Recently I was reading one of the famous books called " Rich Dad and Poor Dad". This quote just changed my thoughts and reduces my depression. Like many others, I myself also made a huge loss in this recent BTC crash.

When I first came to the crypto world I start with only a laptop. This was all I have and I made a good amount of money because of the last bull season. But because of poor money management and lack of experience, I took a big amount of loss too. I do make some losses but the lesson learned is priceless.

1. Money management is very important. It is better to have some plan than no plan.
2. Opportunity will come again and again so do not FOMO.
3. Anything could go to zero no matter how big the project is(Luna disaster).

Now I know how cash circulates into the crypto markets. I know fundamentals are the most important part of a project. I again could do mistakes in the next bull season but I will be more mature than to handle the situation. I do take some losses but the lesson it gave me would save a hell lot of money in the future.

The two big things that did it for me, were being lucky enough to get up to a decent salary by falling into the right line of work and also doing a lot of research into money management which is your first point. It is very true that "it takes money to make money", what you'll find with a lot of people who started with very little is that they built up their fortunes brick by brick over a long time - it's not a case of trying to find a short cut to suddenly become wealthy, that happens to the tiny minority. You're better off sticking the vast majority of your money in a global index fund which tracks companies of all sizes and be happy with the return of 5-8% you can expect to get on average from the profits of all those companies.

salad daging

hero member

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Bitcoin To The Moon 📈📈📈

It has become common when they experience losses in a bear market situation, this cannot be avoided because the movement continues to decline and sometimes with our analysis it becomes messy because the price is unpredictable.

I've experienced big gains but on the other hand, I've experienced big losses, as now there is a prolonged bear market happening.

Money management is very important I have learned a lot about this from various sources including looking at advice from youtube, tiktok and instagram about its actual management.
With proper management, we can at least minimize it to prevent big losses, so I'm planting that now.

In crypto investment I am sure it will recover, not as long as it is bad, the price will definitely increase the asset will not be lost except its value.
Since the opportunity will come then I will wait in a few years.

I'm not going to be careless with any FOMO/hype that gets us trapped, but I'll do whatever it takes to avoid falling into the trap like I've experienced before.

Since the future is pretty bright in crypto then I won't be too worried.

The Cryptovator

legendary

Activity: 2282

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Signature space for rent

Agree with OP, when we take everything positively then yes, we aren't losing. Whether we are earning or we are learning. But when you think financially, we are losing. Some people lose in bear season and some people make handsome money in a bear market. It depends on the situation and how we are trading.

Also, I have learned many things from crypto. Only a single wrong decision would destroy everything you eared. Sometimes lessons become too costly. Everyone can earn money. But everyone can't manage funds properly. Money management is quite hard.

sulendra12

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Quote from: DVlog on June 20, 2022, 02:24:04 AM

1. Money management is very important. It is better to have some plan than no plan.

This one is really important. It's not just giving you benefit on current date, but it will give you an ease to manage your money when your are older or even get married later. Without money management, who knows your money will gone without you even know it at first, it's always better to take care and watch your income and expanses.

Quote from: DVlog on June 20, 2022, 02:24:04 AM

2. Opportunity will come again and again so do not FOMO.

Yes, but the biggest problem about this one is that how you move on and treat it as your learning experience, instead of just falling into your failure. Once we can master this, we can at least control our emotion and can use that experience to use it on better place once the opportunity comes again.

kensaii

full member

Activity: 396

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The easiest way to learn something is by losing. Only when you lost your hard-earned money that you truly realize how stupid your was. That was the kind of force that made you to learn from your mistake and become better at yourself.

sovie

sr. member

Activity: 1274

Merit: 265

Quote from: fiulpro on June 20, 2022, 01:59:02 PM

It's great to see when people read amazing books and apply whatever they learned here on the forum and their investments as well. I do think that it's amazing to see that you will either win or learn but at the end of the day not many people have that many chances of learning, we all have different resources and different savings therefore it's wiser to learn and then invest than invest and learn from the outcome as well.

Crypto market is very different so what you learn from the traditional market you cannot apply here as well, therefore always be ready to explore more and at the same time learn more !

That is correct - crypto is very different market - It makes people rich in a jiffy it can can steal all the money in jiffy.
If we take an example of Luna - -that was a huge disaster. But on the other hand many people got hold of the coins when the market crashed and they got benefited.

fiulpro

hero member

Activity: 1862

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It's great to see when people read amazing books and apply whatever they learned here on the forum and their investments as well. I do think that it's amazing to see that you will either win or learn but at the end of the day not many people have that many chances of learning, we all have different resources and different savings therefore it's wiser to learn and then invest than invest and learn from the outcome as well.

Crypto market is very different so what you learn from the traditional market you cannot apply here as well, therefore always be ready to explore more and at the same time learn more !

suzanne5223

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Quote from: DVlog on June 20, 2022, 02:24:04 AM

Recently I was reading one of the famous books called " Rich Dad and Poor Dad". This quote just changed my thoughts and reduces my depression. Like many others, I myself also made a huge loss in this recent BTC crash.

Point of correction, you can only make losses if you choose to sell your BTC but if you hold till the next halving effect market you don't make any losses. I will advise you to keep some capital the bottom price is yet to achieve.

Quote from: DVlog on June 20, 2022, 02:24:04 AM

When I first came to the crypto world I start with only a laptop. This was all I have and I made a good amount of money because of the last bull season. But because of poor money management and lack of experience, I took a big amount of loss too. I do make some losses but the lesson learned is priceless.

Learning how the crypto market work is very important because knowledge about the crypto market is what determines your profit and the last time I checked short are the best trading strategy during the bull season.

Quote from: DVlog on June 20, 2022, 02:24:04 AM

1. Money management is very important. It is better to have some plan than no plan.

Yes, it is but DCA is the best option for money management

Quote from: DVlog on June 20, 2022, 02:24:04 AM

3. Anything could go to zero no matter how big the project is(Luna disaster).

If you dyor about Luna, you'll expect the dip fall in price the coin experienced because it was overbought and the project itself doesn't have a unique concept or solve any crypto-related problem.

repear7

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Quote from: Khanvila78 on June 20, 2022, 11:22:15 AM

If you want to win, you have to give more importance to learning. Because if you don't learn, you can't progress in anything. If I had been told I would have talked about learning. Because learning is more important when I'm new to cryptocurrency.

Yes, you are right. But all the time if you find victory but not. If you want to achieve something you have to lose first. You have to learn slowly. And cryptocurrency is a kind of system where you have to learn all the time. The more you can learn, the more your skills will improve. And your interest in work will increase. So respect and love your work. You will see that you have won.

Alisha-k

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In Bitcoin every moment is an opportunity to either buy or sell. I understand you weren't prepared for the crash but in market conditions like this people are still making profit. I think it is high time traders learn how to profit from both ends. Money management is the first principle for every investment then taking advantage of any trend is then key to solving FOMO and FUD. Zero drop projects are only applicable with shit coin and one has to be skeptical about investing in altcoin

ethereumhunter

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Leading Crypto Sports Betting & Casino Platform

Learning about what is happening in the crypto market will really help us to act accordingly. Many of us don't learn from our mistakes and let ourselves experience other mistakes, which will not give us a chance to succeed in crypto. Therefore, perhaps learning to analyze our previous mistakes will help us avoid making the same mistakes and make plans about what we will do.

Flexystar

full member

Activity: 1092

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Yeah I got the learning in the current bearish market for sure. It’s teaching me how to survive even when your assets are locked up because of the bearish market we are not able to sell anything. Selling means we are literally giving away our money to the people who are actually following your thoughts from the rich dad poor dad book. With the current learning’s I’m very happy. Yes as human being I’m nervous that my funds are locked up and i have no idea when it would be recovered. There is recession up front so I’m scared for sure but holding on to this a lot. So already got the learning’s and trying to win the situation right now.

Smartvirus

legendary

Activity: 1554

Merit: 1139

Experience they say could be the best teacher. This is the case most at times for some people but there are lessons better not learnt by experiencing them yourself but the truth about this is, you never would know how it feels without a first had experience.

Many of us through the various articles posted on the forum every day and on the net, have been aware of the bear market moves that dumped bitcoin in the year 2017. I am sure it wasn't funny for those that were into bitcoin at the time and that's the very way most of us that didn't take profit nor made moves to preserve value is feeling now. For some reasons, it is good as, It would be a good motivation to learn analysis and take it more seriously.

Fortunately for some, you've never lost if you continue to hodl and you lose only when you sell at the dip. At the dip, what you ought to do is buy and not sell except necessary. Good one we are learning, its the purpose we are here isn't it.

Khanvila78

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If you want to win, you have to give more importance to learning. Because if you don't learn, you can't progress in anything. If I had been told I would have talked about learning. Because learning is more important when I'm new to cryptocurrency.

Blue King

member

Activity: 84

Merit: 22

Quote from: DVlog on June 20, 2022, 02:24:04 AM

Recently I was reading one of the famous books called " Rich Dad and Poor Dad". This quote just changed my thoughts and reduces my depression. Like many others, I myself also made a huge loss in this recent BTC crash.

When I first came to the crypto world I start with only a laptop. This was all I have and I made a good amount of money because of the last bull season. But because of poor money management and lack of experience, I took a big amount of loss too. I do make some losses but the lesson learned is priceless.

1. Money management is very important. It is better to have some plan than no plan.
2. Opportunity will come again and again so do not FOMO.
3. Anything could go to zero no matter how big the project is(Luna disaster).

Now I know how cash circulates into the crypto markets. I know fundamentals are the most important part of a project. I again could do mistakes in the next bull season but I will be more mature than to handle the situation. I do take some losses but the lesson it gave me would save a hell lot of money in the future.

This is how everyone is in cryptocurrency. Because everyone values income more than learning. Those who value learning more than income will win.

Plaguedeath

hero member

Activity: 728

Merit: 612

Does a laptop isn't enough to start in crypto world? I guess a laptop is already enough if you're not do something risky e.g. installing random software, checking the sources and try anything that will harm your laptop. Also not all people who have Bitcoin is a miner, most of them I believe are just buy it directly on an exchanges.

Silberman

legendary

Activity: 2534

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Quote from: Don Pedro Dinero on June 20, 2022, 03:23:53 AM

Your story makes me think you got into trading altcoins, which is very risky.

I don't know what you got out of Rich Dad and Poor Dad, but basically what that book says is that rich people invest for cash flow, giving a lot of importance to real estate investment. The author has great confidence in bitcoin, but I would never lend it out for cash flow, as it means giving up your private keys for a small extra percentage of return. Too much risk for too little return.

Personally, I don't play with altcoins. You seem to be keen to keep playing with them, good luck.

That is the kind of impression I got as well, after all he states on his third point that any coin no matter how big can crash and then gives the example of Luna, but this only applies to altcoins, because even if bitcoin can go down very quickly as well it is almost impossible it will go to zero and it will always retain some value no matter how bad things get, so such a statement makes me believe the one that started this tread invested in luna and lost a lot, and now he is wary of every single project in this market.

DVlog

full member

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Quote from: Ucy on June 20, 2022, 08:41:20 AM

The truth is that if you are in control you win all the time without losing. This can only possible in a Perfect World where you actually know things ahead of time and have control over them.

A perfect world exists but is often denied by those living in the imperfect world. It's a World ruled by the CREATOR of all things,and it exists on Earth.

Why do we need a perfect world? Those who fear changes complained about the world not being perfect. Changing the world is a hard thing so why don't you pick an easy one. Change yourself you will get a perfect world.

New things are good because they bring more opportunity and knowledge.

Minecache

legendary

Activity: 2184

Merit: 1024

Vave.com - Crypto Casino

Quote from: DVlog on June 20, 2022, 02:24:04 AM

1. Money management is very important. It is better to have some plan than no plan.

Having a plan and managing capital is key to success in any financial market. If you do not have a plan and do not manage your capital, then you will forever lose.

Quote from: DVlog on June 20, 2022, 02:24:04 AM

2. Opportunity will come again and again so do not FOMO.

As long as the market exists, the opportunity will always exist, so there is no need to rush for fear of missing out invest blindly. Another opportunity will always present itself if we do not give up and wait patiently.

bitgov

sr. member

Activity: 1554

Merit: 260

Quote from: Ucy on June 20, 2022, 08:41:20 AM

The truth is that if you are in control you win all the time without losing. This can only possible in a Perfect World where you actually know things ahead of time and have control over them.

A perfect world exists but is often denied by those living in the imperfect world. It's a World ruled by the CREATOR of all things,and it exists on Earth.

We cannot change the world politics neither we can expect anything from our government. The only thing we can do is to earn money and have a good living. Rather than looking for help. Regarding the OP - we can always pray to God to save us from the ill of the world.

Topic: You win or you learn. - page 8. (Read 1120 times)