Bitcoin Forum

Basically anyone going into any trade no matter the part of the world that they may come from their intent is profit making from any trade they initiate. Right from the age of barter trade through to legal tender and now the world has upgraded to an age of digital asset still the intent of profit making remain constant for all traders and investors.

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.

The world of digital assets, such as cryptocurrency have created an unimaginable opportunities at different  spheres for every individual to maximize and technically make as much profit as one can no matter your location and that's one of the beauty of cryptocurrency.

Here a very few tips on how to create a financial plan for yourself.(I may not be a financial expert but certainly these tips has been working for me for long now).

*Make it a rule to regulate your expenses, don't just spend all because you desire to spend. The more you give into spending based on desire, unknown to you it will turn into a habit. So therefore, look inwards and eliminate any form of unnecessary expenses.

*Don't rush into any investment or trade without a safe financial plan. As this could save you from any form of financial wreck.

*Endeavor to set a  financial target for yourself and possible means to achieving it and also create room for adjustments just in case of obstacles but don't keep your focus away from your target.
Mind you, sometimes you may not hit your target, but not to worry, cause financial target helps you to have track knowledge of your financial growth within a framed of time.

* This may sound somehow to some persons but I'll still say it anyway, and that is, Take your health seriously for it's only he that is healthy can think of making profit and financial plans. No wonder they say, "health is wealth". ;D

On this note, I say learn the habit to be reading books that's teaches on how to utilize the financial instruments within your possession to create wealth for yourself. Stop reading what I call anyhow books, for you are not an anyhow person.

More ideas on financial planning are welcome as I believe to learn and benefit from you too.

I believe the biggest issue about non-professional traders is that they are just looking for a quick and easy money, and they usually do not have a financial plan and knowledge about finances in general.

You are correct when you say that people need a plan, but you did not specified what that really is.

IMO, a financial plan is something like an answer to those questions:

"How much money do I really need?"
"What rentability am I looking for each month?"
"how much % of my overall portfolio should I be trading?"
"What is the benchmark should I compare my portfolio to?"

You need to know where you are and where you want to go. This is financial planning.

I don't think anyone should be all-in in trading strategies, neither all-in cryptocurrencies. Personally, I don't trade, and I am very satisfied with my portfolio performance as I am above the benchmark that is my personal goal. (My goal is about 5% over inflation per year)

The financial advice some books will give you about when setting financial targets for yourself which I agree with is to ensure that you set a very high financial target that will push and motivate you to work hard towards achieving it.
Yes, the idea is not to always meet the target, but to get really close. In setting very high financial targets and working hard and smart to try to achieve it, you will be surprised how better you have performed, much better than setting a mediocre target for yourself.

High targets can encourage you to work hard.

Good advice about health. Many don't seem to care for their own health because all they're focused on is money-making plans and financial matters. I remember Steve Jobs about this advice of yours. We all knew who the guy was and what were his achievements but from what I've read his tips are all about taking care of ourselves. It is one of the regrets he has before passing away and we can all see that others still don't take caution about it. It's a lowkey thing for most but you can't enjoy your wealth, trading profits, and being financially free if your health is deteriorating.

Even myself do really make out that realization about putting health on priority because money would really be that useless or would really be gone on an instant or short span of time whenever you do have illness.

Balance up everything because if you do keep some focus on one side which is to make money then most of the time you would be neglecting your own health which it isnt really that a good idea.

Who doesnt really like or want to have a good financial status? yes we all do but we should bare up mind about balancing on things so that you wont really be having any problems.

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.

Generally, everything we do in regard to financial management and investing should be planned wisely. Nobody will fail if they do this thing and follow what has been written. However, the success of this plan relies on the people who are implementing this otherwise, it was still a failed attempt which I see some people had failed to commit.
It is essential for us to have an idea of what we are doing financially, it can be a great asset to our success and of course, we really achieve what we planned for.

People take their health for granted, when you are young you feel incredibly well and many people believe that this is going to continue for the rest of their lives, but we know that is not the case.

That health is going to eventually deteriorate and if you do not take care of yourself then your health is going to deteriorate even faster, it is precisely because of it that we need to begin to take care of our health before it goes away, and while the effects are not going to be felt immediately once you become a senior citizen the differences between those that took care of themselves and those that didn't will be massive

Trading is much more and more than this, it is easier said than done. Trading can take than give if someone is a newbie to it, trading can financially damage someone. But also profitable for professional traders.

Some non professional traders are newbies, if they are not newbies, they should know that trading is not for everyone. Some people that are married reduce the money they spend on trading. Some trader did not start with the money they can afford to lose, some are not patient, some even are gambling and thinking they are trading but not.

What I just realized about some traders is that they should quit and face other realities.

You can't do a financial management if you are not planning your investments wisely. It is important so that we will have an idea if how much money we already put in or pulled out. It can help us minimize the risks that we are going to get. Failed to commit is worse than those who tried and failed. How will they know if they will succeed or not if they won't try it?

Like I said earlier, we can be able to minimize risk but I didn't say that you can remove the risk. That is not possible. In trading, it is always possible to lose no matter how organized or experienced you are but that's fine tho as long as your winning ratio is still higher and it doesn't make sense to continue if you arent getting anything, other than donating money in the market.

We all want to have a good financial status but we should also take into account our health. You're just going to burn and spent all of your hard work and hard-earned money with medication even if you've got insurance since it's possible that you'll get lifetime maintenance.
We all don't want this to happen and that's why keeping ourselves healthy should also be maintained and important to most. Let's learn it from those real wealthy people and take it seriously when they advise about taking care of ourselves.

Man, I was one of those that took it for granted not until I started to feel something with my body and that's when I've been alarmed. That's why my grit before was like overwhelming but I started to decrease it and give a priority to my health condition. We're not getting any younger anymore.

Coming into the world of business and investments, definitely, no one takes these paths with an intent of encountering loss. If it were possible for most, they won't have seen even a single loss at all but, losses are inevitable in business. You win some and you loose some, its a fact. Even the richest men in our world today, have times when there assets reduce in value.

Although, there are a set of people and am talking about the NGOs (Non Governmental Organisations) who goes into rendering there services in terms of aid without expecting any profit in return. They take consolace in the fact that, they were able to aid another needy individual and that is satisfying.

For one to truly know how much profit or loss one has in course of running a business or an investment, documentation is highly important and inevitable. It takes into account what you might consider minor or petty cash but that too is taken out of a multiple of value. Planning gets you there and proper documentation tells you how fat and how well you've done. Them both are a necessity.

I completely agree with you.

First time I've tried futures was epic. I thought it was just entering a trade with a 25x-50x leverage and I'll be rich overnight, but it was way more than that. Capital is the most important thing in trading, because that will help you to decide what kind of approach you'll do to budget it in every trade you'll do to gain profits, because you can't just randomly put an amount in your trade without being aware on your balance, you'll go bankrupt that way.

However, even if you have a plan on how you'll make this and that for this month, for example, sometimes it won't go that way. That's why trading needs a lot of dedication and commitment, once you go in, you can't back down because you want to make profits.

It would be useless if you are thriving for more money and doing extreme work and spending all of your time on making money but you do compromise your health then it would be pointless.
You wont able to get all of your money or use all of them when you are dead or do have some extreme illness or being sick.This is why its really important to have balance on everything
so that you wont really be having any problems later on in regarding with your health. Everything should be set carefully and of course planning would be crucial because you cant
just deal off with things without any plans.

Well, what can I say, they said health is wealth and is our whole investment when living. We should take care of our health first and the rest will follow just like how you treat your wallet with care. Being a workaholic sometimes will force you to do things that you aren't supposed to do just like taking for granted about your own health. It's not bad to get to your desire or wants but when you lose sight of how you treat your body, it will eventually took it's time to let you pay for it.

Trading should be fine as long as you do it moderately with care about your body and not just going full time almost everyday.

When we were young, most of us had such for granted thoughts, I used to think the same way. Before, I was in good health, with almost no minor illnesses, but after a while, things suddenly went downhill too quickly and I started to realize my health was going downhill. I had to stop all previous plans to take care of my health. We all want to make a lot of money and have many plans to execute but we almost forget that a plan no matter how perfect without health will never be possible.

It's the opposite these days, fast food and junk foods are cheaper while healthy foods are more expensive. But that's the way of living healthy and we need to take that into account about how we should take care of ourselves. That's why having a me-time is important and that's where I take time to meditate and think about other things in life. Remaining healthy should always be part of our plans aside from just being wealthy and financially free.

Despite bad health we can also survive depending on the severity of it and the age. If bad health is because of old age then it means we should have had an investment we did in young age or what we have survived with when young and that why when young we try to use our strength, idea and ability to do certain things we can benefit from when old. Apart from old age, there are some businesses that we can hold on to even when sick depending on the illness though. I think online businesses can be of less stress and other businesses that you can employ someone to run it on your behalf.

There are two ways to this, setting a financial target will make you focus and have a good track of your financial growth, there is no doubt about that. Then, there is this imbalance and anxiety that comes when the time is up running and you haven't achieved an appreciable percent of your set target. To some, this anxiety might cause them taking unplanned risks, either by increasing stake or leverage or by other means. When this happens, it could be a real build up to perpetual loses. I prefer trading at ones pace and taking trading as a passive opportunity and not the only job.

I can relate to this tip and most people also experienced this and made a mistake from this part.
Some people that telling or doing some investment with the proper plan is like gambling, which they thought at first that those are investment act but they don't know they are doing it wrong or not expecting the other side effect.

Being successful trader and being rich personal can be different as well, to make profits all you have to do is sell for higher price but reinvesting the profits to make more money is part and process of becoming rich.

Financial planning is important but we heard all those advices about spent less and invest more but in reality we are actually creating more consumers products which makes one as rich the remaining 99 as poor cause 99 people are buying from that 1 and that is how all things works, realizing this may help to achieve financial goals.

I agree, money management is the basis, it is primary, and after that brilliant strategists come to increase their assets

Yeah, financial planning when trading is very important. You should know your limits and you should trade with what you can afford to lose. People should keep in mind that crypto currency trading is more volatile than any other kind of trading. The market can go from 10 to 5 within few minutes. As long as they aren't risking money that they need, they can continue trading. As long as they are aware of their financial limits, trading is completely fine.

Anxieties are negative traits which should be ignored. I know it's hard at first but practice makes perfect. Just think of positive things to be able to feel calm again. If you didn't achieve your goals on your expected time then maybe the time that you set is too early? But even if it's not early there are still a lot of factors which can affect our earning potential.

Number one would be the volatility of the price of cryptos but there is also a stable coin which we can use to be able to stay consistent. Increasing stake or leverage is risky so I don't recommend them but why not extend your deadlines instead? Life is not a race so there is no need to hurry up.

I like this point. In other words it is expedient that one is meticulous. It is all about the planning. For example what is your trade goals? What is your trade risks? What was the past one month, two months, or six months like? How is the market doing? Be prepared. In this stage also, the focus should be more on the money that you can lose than on the one you can gain. It helps to keep things in proper perspective and not become narrow minded. There is a maxim that says he that fails to plan has planned to fail lose.

I want to add one more important factor in financial planning.  That is to know the risk factor of anything that regards investment.  Risk management is also another important thing in financial planning because it enables us to avoid unnecessary investments that may eat up our financial funds.  With that, we must also understand how to make use of risk management, calculate risk factors and how to apply it in different instances.

Many are too busy on making money and most of them forget how to take care of theirselves and the result is bad for them especially with heir health, if you really want to enjoy life while making money, it’s goos to stay healthy.

Don’t just read books, you can also attend some seminars that can encourage you to become more financially literate and can help you achieve financial freedom. This is where is where I started and I can say that it’s very effective especially if you are still a newbie. Financial planning is very important, don’t just trade without a plan or else you will miss a lot of opportunities, learn how to be more discipline as well.

Its a must but we do have that kind of mindset on which we should diversify as much as we could since we know that it could really give out opportunity or chance to earn more out of those investment

which we would be mainly thinking that we should make out investment as long our funds or budget or allocation does permits on this one.Although it does signify risk which is something a default thing when you are

making investment.Everything does have its risk and you wouldnt really progress out if you wouldnt really taking up some risk which is something that we do really need
and this is where planning would be that relevant.

That is a sound advice.  Socializing with people who are interested  about financial success can give us more idea than we imagined.  Since attending seminars can enable us to have contacts with different people, befriended them and possibly setup partnership with them.  Going outside to meet these kind of people is like broadening our horizon and we will hear different points of view and their approach when it comes to their trading and financial plans.

People should use any method that they may like to try to improve their financial knowledge, however for some reason people believe that this is very easy and that they do not really need to invest too much of their time in this, and it is easy to guess what may happen next, those people begin to invest in the markets with a very superficial knowledge about them and then when they face tremendous losses they are confused about why that is the case, not understanding that the most likely explanation for those results is that they were completely unprepared for what they were trying to do.

Most of things that we do want to know will actually be acquired not only good on theory but also with real experience.There are things which you cant really able to know or be aware of if you wont try.

You might be good on reading up books or reading up others experiences and stuffs but it cant really be applied 100% on your own.Nothing beats if you do fully rely with your own experience
from your actual experience and dealing.

Planning would be created out of those experience because you are the ones who would be aware on what key areas that you should focus on.

Buying cheaper and selling more expensive is the basis, but it would seem very simple, in fact, few people manage to do this. Financial planning is actually a very necessary thing, it's not about the consumption of goods, but about the ability to properly manage your finances. So that you learn to spend less than you earn, and use the remaining amount for investment.

These financial plan advise will be more effective if the person already experience the worst. It's not that I'm saying everyone should experience the worst but generally, not all can follow these advices since they don't understand yet being in a worst situation.

Worst experience is the key why some people become successful and become strong during their way up. It's now depend on that person if after experiencing worst during their financial planning, investment, trading activity or so, they will still have the courage to move on and do everything not to repeat the same mistakes or minimizes it.

Well, of course, financial planning is very important, and to have clean support in regards to budget for trading. However, this is not how trading becomes profitable, what we just need to do is to have an effective trading strategy and knowledge as planning won't simply work without proper execution and turns useless. I'd say that it was very important to have all of these things works together in order to become successful otherwise, it is a failure. Perhaps, being smart traders have always a plan and are patient.

Indeed, financial plans and strategy are very crucial moreover in trading activities. This must be managed not only before doing trading but also during trading activities in order to control our money, income, and outcome, the loss, the profits, the capital, and also the additional capital during the trading activities.
Although it seems to be easy to talk about financial planning, in fact, it is not easy in implementing, moreover during this bearish market. Sometimes, our financial plans are broken easily because our emotional management is also dropped.  ;D ;D
But once more, as long as we are still aware and want to make better management again, re-managing and re-planning finances is a must to ensure that we are still under control.

need a process to be able to run all that, because not all traders can do it well. Trading knowledge becomes mandatory to know in advance in order to understand how market conditions are and apply it with a good strategy, and then financial planning or financial management is carried out to manage and distribute funds to carry out good investments and trades. without doing financial management, of course, you will not get satisfactory results because money only revolves around one asset.

I know what you mean, currently I am undergoing a health-scare myself, I hope it is nothing serious and it can be solved relatively quickly, and once that happens I will really begin to take care of myself as it does not matter how much money you have if you are feeling awful every single minute of the day.

Still I think I have time as even if I have not took care of myself as well as I should I am not in such a terrible shape either, it is just that some people have an incredible strong health while I have always being kind of sickly.

basically in this case the success of a trader can be determined by 3 things, namely psychological, money management, and analysis. The most affecting of the three is psychological, where many people fail as a result of panic selling, while with wrong financial management, of course, they will get less than optimal results, because we have to maintain the security of funds for the main thing. and technical analysis is precisely the thing that most traders are hunting for in order to master it, it is actually the smallest determinant of success among the others.

I will add this play games that can sharpen your reasoning e.g Chess that way it can improve on the choice of analysis tool for making investment or trading decisions.

Setting financial target as a trader helps minimise losses and also check every strategy deployed against the market. Sometimes Financial target can limit profits but in the same it limits losses as well making it a powerful tool for making a balance

I prefer to say it as financial management, it is something that every trader and investor should have.
Then risk management, as you say - take small profits to avoid big losses. Risk management will definitely differ between traders as it depends on what strategy they use. Some traders do not want to take small profits because they believe that it is just a waste of time, they tend to wait for bigger profits. I'd say it's greedy, but it's fine as long as they understand what risks they're taking.

It would probably be fair to say here that you can expect a big profit on a trading if it is an investment in bitcoin or ethereum. If we are talking about altcoins, then even a small profit should be fixed, since the risks here are high. Fundamental long-term investments should be for fundamental coins like bitcoin, and everything related to altcoins should be under close control and with an understanding of the risks.

It is true, and I have stated several times before that long-term investing is the best choice for anyone. I don't mind if people can benefit from their trading activities every day whether it's a scalping strategy or day trading, that's great especially if you master the strategy well.

After all, traders are more likely to own altcoins than bitcoin because volatility and funds will largely determine their profits. Trading is a good way for those who are able to analyze the market both fundamentally and technically, but long-term investing is the best choice for those who cannot monitor small movements of the price all the time.

I agree, bitcoin and ethereum will give a good return, I would add BNB to that as well because that is a good coin too. However, anything other than that should be taken seriously because it could be a big loss to people if they are not careful.

I know that people are used to investing into dozens of projects, but that would not be a smart decision if you focus on what you could do with the risky altcoins. I mean you could always invest into anything you want, just don't do it with huge amounts, put 90% of your money into btc, ethereum and bnb, after that you could invest that 10% into anything you want without worry because even if it becomes zero, the other 90% will recover that.

and in essence these three things are equally needed and interrelated. if one is not used of course there will be risks that will occur. Psychology is included in being the final determinant when all strategies are applied. psychology can be well shaped with trading experience.
Right now I'm even still learning how to manage my psychology so I don't panic too much with all market conditions and I'm also honing my skills in technical analysis.

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

I would like to say and add something for your information as both pf terms you are going to start with you need to plan your investment ideas first let me explain with an example,

Imagine you own 1000$ on the behalf of investing all on the single assets is a big loss as if its Bull or Bear trend. Division helps you alot.

Invest 40% for a backup asset as a long term secure and stable trade. BTV is more likely what you need here now make a 20% investment in stable coin as if you need to buy from dips you need stable coins, now you want to trade you have 40% left in total now there are many types of trading now split it into 2 parts go for 30% in spot trade and 10 % in future if you are New to trading.

In a Experience case you can go for 20% / 20% ratio on both sides.

This is how you won't be in loss on any time you have good backup you have good stable coins to buy dips you have secure trading assets as spot and future both for staking you can with the Backup you have made to staking period 1 arrow two points.

This one is actually I agreed the most, most of the traders nowadays are really easy to manipulate their emotions especially in trading. Hence when stuff is not going to be what they have expected then their emotions will be fucked, which makes everything becomes worse such as depression, stress, etc.

Sure you may have bad day, that's an opportunity for us to learn the mistakes and come back once we are ready. Taking a break for a moment doesn't hurt you, there is always a chance for you to get profit.

 True don’t spend money to please anyone or for respect  your spending should be base on you budget what you need at that particular time , I love this tip.

 
Funny but heath is wealth what most  some of us care about is money , careless not living a healthy life not eating properly and cleaning there environment , you have said it all so health is as important as looking for money.

Health is important, no matter how much money we have, if we are healthy then we can enjoy it, can also manage it again to create more money and use it for the good of our lives and also other people. Indeed, health is one of the main spears in doing anything, including making money, it cannot be denied, that the two are closely related and influence each other.

And this often happens, even though we have prepared ourselves and have tried to control our emotions, when the market goes far beyond predictions and makes us lose a lot, no matter how strong we are, there will definitely be feelings of depression, stress, confusion, and sadness. And this is very human as a human being. But the difference for each individual is how big and long our emotional level is and how we can do problem-solving for these uncontrollable emotions so that we can control and regain our sanity. However, even though this is difficult, we need to fix this and do it so that we remain alert and do not stress for long.

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.

If our body condition is not healthy, there is no harm in taking a short break or doing positive activities that can make our emotions calm.
In conclusion, our emotional state is very influential when trading. So to become a successful trader, it is not enough to just manage your finances
well and also must analyze the market well too. But our emotions must also be well controlled, no matter how emotions affect our decisions in trading.

Profit is one of the undeniable things that traders want but being obsessed with this can ruin the traders future trades. There are many factors but having an instable mental health can contribute a lot of problems even or real life. Bad management of emotion and other several factors can affect traders even on long term, I've develop a bad habit on trading before because of bad management and it cost me lot of losses and mental strains.

Before entering in trading, which we can’t guarantee profit better have saving first, insurance or health cards so in case something happen we will not be force to sell at low price our investments. Before we decide to enter trading we need to be prepare in some uncertainties or better have emergency fund to help us when the market isn’t going well. Especially if we overwork ourselves and end up being sick so better have healthcare coverage that can be use in checkups or operations without using our trading money.

-  Most of the people who have more capital make hasty decisions on their business investments. Often they don't study much first, as long as the money is out immediately, so the end result is if they are not taken advantage of, they lack a plan and goal target for the growth of their capital investment.

So I can say, this is also a good reminder to investors here in the cryptocurrency industry so that others know that entering here is not a joke and still needs other studies and caution anyway.

What you said is very correct and it happened to me. There was when I had a very huge capital and I made so many hasty and wrong investments because there was fund. Though it was a newbie experience, but immediately the funds went down, I came back to my senses.  It was one of the worse moments of my life but it has turned to an experience and that is why I have to agree with you totally.

That made me not to be willing to make any investment. It is better you have savings, even if it's not bringing more money, but we are sure that it is there for you, rather than make some wrong investments that will clear up your hard earned money.
The economy is not fair, and this is not time to give up money easily all in the name of investments.

I have seen all type of users take hasty decisions, big capital owner not. It all depends on their mindset, those who are trying trading for the first time with a get-rich-quick mentality will take hasty decisions but not those who have been in the market for long and know how things work here.

Financially, these things need to be learnt by traders before starting trading. The difference in a planned entry to a hurried entry comes in this place. Those who get their first coins by word of mouth from friends and internet celebs will be losing money if they continue the same.

Of course the whales do need some idiots to dump on, so this thing will continue in every speculative market.

I think this is a very important topic when it comes to financial planning. It makes it so much easier to save money when we have a goal we are saving for. Setting a fixed budget should also include what we are going to do with the money in the future. Saving money each month only with the goal to become rich one day is way harder than if we a goal we are aiming for. This could be to save money for our children's colleague education, a house, a new car or even retirement. Like this we can visualise what we are going for in life and now when we make progress and how close we are to reaching it. Running a spreadsheet for all income and expenses is necessary to identify where we can save more money and what is our future income going to be. It's important to know how much money we can use for saving and how much money we need to have access to quickly. There needs to be a different assets we save in, some more risky and some less risky. The higher the risk the higher also  the potential return we can make, but if we need money short term we could be forced to sell at a point and make a loss.

Investment is not just about having capital that is adequate or related to having too many many then you want to invest in anything that comes on the way, if investment is done without proper initiative and planning then the outcome is known which is failure. Therefore whatever money we have to invest whether being big or small, there is the need for proper planning. If you buy a shit coin that is to be dumped in few weeks after you buy it that means you didn't do a good plan and when the shit coin is dumped, you will run into loss in the investment.

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.

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.

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.

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

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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

The important factors that have helped us be successful in our financial planning are self control and self discipline. Instead than concentrating on the things we want, we should concentrate more on the things we need. For people who wish to be successful in their trading endeavors, financial management is extremely crucial. Savings are required so that we can increase our profit and manage our losses. It could be challenging at first, but if we can make it a good habit, we'll succeed at it without a doubt.

Any investment has its risk which there would be no exemption and you should really be minding off this thing to be that standard where you would really be needing to be that making analysis on whatever you are

jumping into or simply talking about investment.Particularly if we do speak about trading and on a very unpredictable market then it would really be just normal that you should really be that serious on financial

planning.You cant really just make out some entries without having considerations on why you have done that action? Never ever make yourself to have that gambler-like mind or perception on something
which does require good analysis.

The most newbies do is that they're being hype with the crypto market itself and that's why they're quick in investing.
They don't conduct knowing what they're up to and what they're going to invest and that's making them like gambling in the market and they're fun about it.
It's true that being financially knowledgeable and you're also knowledgeable as a trader, you're like hard to be broken by the market because you've got plans and you're all set to face any of the problems that you may see along the road.

In general, we should prepare everything we do with relation to money management and investing carefully. If everyone does this and adheres to what has been written, nobody will fail. However, the success of this strategy depends on the people carrying it out; otherwise, it will still be a failure, and I see that some people didn't follow through. We must always be aware of our financial situation because it can greatly contribute to our success and ensure that we actually accomplish our goals.

There are so many newbies who end up failing when trading, because they trade without preparation and are only influenced by other people.
I see most newbies when trading rely on free signals from trading groups. In fact, it will only make their lose money. Even though trading is
a complex activity, there are many things that we must learn to become successful traders. Like how to manage our finances when trading
should be a priority, so we will not lose large amounts of money when experiencing losses. Never think we can become a successful trader
in a short time, forget trading if we think like that. Becoming successful in trading requires quite a long process, we must look for an effective
strategy and do not rush to trade with large capital, we must manage finances, that way when experiencing losses can be minimized.
The conclusion must be patient to be able to reach the stage where the profit we generate is greater than the losses we experience when trading.

Most of the stories that I have heard about those people that have relied on signals, they don't have a good experience there.
That's why newbies that don't have knowledge in trading, they should do it on their own and learn the basics plus gain it with their own experience.
Don't have to be successful at first tries because there is a process for which everything can be executed well when you're aware of what you do.

That is a reality and it is a sad reality that they are living in. I wouldn't say no to suggestions though, that's not the point, because people are free to offer me advice on what to buy and what to sell, that's not the problem. The problem would be if I end trying to trade based on what they said, I do not do that at all.

I take those suggestions and go deeper into it and start to research what could be good and what could be a problem with the suggestion. If I could end up with something much better and see that it is a good thing and there is a profit to be made by it, then I would invest only after all that research because it would be my own opinion added on top of their suggestion.

IMO, a person who is new to investing in crypto thinks he will get rich quickly because they are just too ambitious when they see their friends or relatives who have been lucky to get rich from investing in crypto and these newbies without thinking about how long their friends or relatives can get rich while investing in crypto.
for example there is someone who invests in bitcoin since 2017 and after 4 years in 2021 the bulls arrive and that person becomes rich. right then his relatives and friends wanted to be like him and started investing in bitcoin without any basic knowledge of crypto investing they thought they were just getting rich quick.

such people only hear and see the hype generated by the news. when there is news of a successful person trading and investing in crypto, he follows it in hopes of getting lucky in a short time. even do so without sufficient knowledge and skills.

We have also seen other cases with the popularity of someone with NFT assets being sold quite expensively. after that, everyone comes to the NFT market to sell and buy NFT.
Such situations continue to develop in our society. never learn how a person gets his success.

Those people are deceiving themselves with the survivorship bias, they see that other people have become successful investing in altcoins or NFTs and they think that if those people can do it then they can do it as well.

But what they are not seeing is all the people that did the same and which lost all their money, you do not hear of those people as often as exchanges and other businesses that earn money out of the newbies coming to this market make no effort to promote it, so they have a mistaken idea about how the market works, and when you do not have an accurate grasp of the reality of the markets then it is almost impossible to earn money from them.

more of them only realized it when they were caught in a loss that required them to stay in the market, or had to come out with a loss.
once they experience it all, of course, they will understand a bit more about how other people are having success with trading and investing in the crypto market.
because everything is not woken up just one night. when we go to bed, and the next day we get all our dreams.

Here in the field of cryptocurrency trading if you want to be successful in your income here, you must have enough knowledge and ideas about what you will do here. Especially if you are entering the world of trading in this industry. It is necessary as an individual that you must have a goal and purpose for why you do it, although we all have the same desire and purpose.

Now, we must know how much income we are seeking in the future, and we must also know the steps we will take to achieve what we are targeting to get, it is good to have a plan so that what we do here will be smooth.

It's a big problem if you get into trading without a lot of prior knowledge only to completely trust your money on information from strangers. Don't get me wrong, these trading groups that offer signals to everyone can be helpful when finding a new trade, but they are no guarantee to make a profit. Even the best trader in the world will not always be right. As a beginner it's a good idea to learn from other people and if they are successful to try and copy them. In the end it's always your own money and we are responsible if we lose some of it. What I noticed from friends and colleagues who gave trading a try is that they are not really realistic for their return expectations. It's the stories about insane profits that make a few lucky traders millionaires overnight that makes people think it will happen to them too. It's important to start small in the trading world, keep track of our personal finances and to get more experience before we put on the big trades. It hurts to miss out on a profitable trade, or to feel that we should have bought a larger position. But better to miss out on some profits than lose a large part of our bankroll.    

There are also those who suggest only using a maximum of 20% or less than that of the capital used in one order. This is done in daily trading where when there is a dumb still have available capital to make a orders again.
For me it is important not to use trading capital for activities other than trading, so it must be separated from other fund so that traders can be disciplined in trading.

The others desire are going to the extent that they're thinking that trading crypto is their way to their riches as soon as possible. It's true that it could be a way to their financial freedom but it won't be an easy road and it's proven to be like that.
They may see those success stories that have became an instant millionaire through their lucky bets from altcoins projects but that's hard to attain and mostly, they're just really lucky at all.

very reasonable. it will let the trader also know the amount of capital and the profit or loss he/she gets on the trades made.
using 20% of the funds owned for the initial order will be good enough to anticipate wrong price predictions. so trading plans can be updated immediately. don't stop and exit when the trade is losing.

More precisely there is a term like this "don't put eggs in the same basket" meaning that if we put all the money in one trade then all of our money will be lost. It's better if you have money, for example $500, we split it into five trading parts so that we can avoid it all. If our first trade loses, then the other four trades can cover the loss and can also make a profit.

It's a really bad idea if someone will all in all of his capital in a single trade. Having no management of your funds is just making your trading session riskier. It's important know how to manage your capital knowing that you can't be able to comeback from losses if you have zero capital left. Risk management is important and I'm sure that even veterans traders are doing it. No veteran trader is going all in on a single trade. Aside from having trading skills, Risk management skills are one of the skills that a trader posses and not having one of those skills will not make you a successful trader.

The fact is that newbies are too lazy to learn about crypto trading, most newbies want to make profits instantly. Maybe the newbie's wrong
thinking is formed after seeing the excessive promotion by influencers. As we know some influencers always promise huge profits when promoting
new projects. Of course with less knowledge of newbie and they need big income in bad economic situation, finally, many newbies fall into
the trap of investing or trading in new projects. Even though most of the new projects in circulation ended up being a scam.

When newbies lose all their money, the first to blame is crypto, they say negative things about crypto. Even though the losses they experienced
were due to their own mistakes. That's why a lot of education is needed, especially in countries that do legalize crypto. Because without education,
many people take the wrong steps when trading, after all, crypto trading is very risky, if without good knowledge and preparation, it is certain
to lose money. My advice for newbies is to spend money on trading courses first on trusted platforms. So when trading crypto at least a newbie is
better prepared and will not be careless in making decisions.

it's all because they are always ambitious when they see others succeed when trading or investing in crypto and always dare to take risks without deep knowledge.
even though it all makes them lose the money they invested for a moment and sometimes think of blaming someone who has been successful when he feels he has failed in investing in crypto

yes, it is true. to the point where they sell all bullshit photos that are not artistic or creative of their own like selling photos of their ears or noses in hopes of being like people who have had success selling their ear photos.
sometimes i laugh looking at the photos but how else it's just a momentary hype that misleads them