Bitcoin Forum

I just started DCAING into bitcoin some months ago with the purpose of becoming a long term holder, I've got my funds in place, I've done my cashflow check up, I've started building my emergency funds, I'm following all the rules that I think I need to follow to reach my goals as long term holder. But guess what happened yesterday?.
I used the money I was supposed to use to lump sum into bitcoin to buy a game. Lame right, very lame. While a lot of persons would talk down on me right now about this cause I know I've messed up and was supposed to say no to that urge to just spend more. Although I've replaced it today with a lot of hard work. I've learnt a lesson. To succeed as an investor you must have self control. I had every reason to say no to the urge to get a game but I didn't. I lacked self control to say no myself and do the right thing.
If anyone must achieve any desire in life, he must have the self control to control his lust cause here I am burning with desire to accumulate bitcoin and this same me went ahead to forfeit it for a game. All I know is I'm never gonna make this same mistake again.

It seems your story is not consistent. You said you are into DCA and everything seems to be in place. So how come you have money supposedly set aside for lump sum buying? Do you also buy lump some in addition to your DCA strategy?

Anyway that game that you bought must really be a nice game because it affected even your solid plan despite you burning with desire to DCA Bitcoin. I think that's not really a big deal. You can always get back to your DCA. And enjoy your game too.

Buying 'wants' isn't really necessarily bad when done from time to time. Just instead of using your investment money into buying 'wants', probably have a small monthly/annual budget allocation for it so you won't need to get the allocation elsewhere.

Since you realized your mistakes on time, I don't think you will allow such mistakes to happen to your plan in the future again, because assume you succeed in savings those money till now when the price of Bitcoin has decreased back to $40,891 to buy and hold, it would have help you to secure some huge amount of Bitcoin that will would have given you income when the bullish season appear. If you can be able to control yourself in the next opportunity that is coming, I believe you will not regret the way you regretted of spending your money for other things that did not bring you income. There is something special about self control in any investment, and if you can be able to handle your self-control at the moment to plan your investment well and put them into practice, I think you will definitely achieve something good at the end of the investment.

Yeah don't you follow on the buy the dip and hold thread, if you do you would well understand me. And yes I keep money for lump summing, we are expecting a bullish would only dca be a wise thing to you?

It is good to be disciplined and not let other things to take the money you want to use to invest in bitcoin from you A good example is gambling. The money that you want to use to invest can be taken by gambling. Another important one is also trading. Trading give traders false sense of hope to let them think that they can make more money within short period of time, but this might be otherwise as the holder will trade with the money he supposed to invest with but lost it all to trading. If some people are only investing instead, their lives would have been better than what their lives is as at now.

Buying a game is not lame like you think because game is for leisure and a good part of your needs. Rather than see the decision as lame, see it as a motivation to set up emergency fund as this is what the emergency fund is for, unexpected needs that do come up sometimes.


No one have the right to talk down on you because of your decision. It is your money so you have rights to spend it as you desire. What we can only do is to make suggestions which are still up to you to consider. You don't have to beat yourself up because you committed no crime. Like I said before, just set up emergency funds and things like this will not happen again.

You could also revisit your DCA budget if it is too high, then you can make the necessary adjustments to enable you follow it while enjoying your life.

It is easy to get sidetracked when you are distracted by a lot of things. In the crypto space, you need to have tunnel vision, and tunnel vision requires self-discipline and loads of patience. No one is saying you should invest 100% of your income in bitcoin, but whenever you budget 10% of your income into bitcoin investment, self-discipline requires that you put all of it into bitcoin investment and not split it into some fraction to invest in other things like shitcoins or any other risky investments that promise returns too good to be true.

To be patient is to know that it will take some time to build your bitcoin investment through strategic means. It means sticking to your strategy and growing your bitcoin slowly. If you do not know about trading, do not attempt to increase your bitcoin through that means. Instead, take your time to learn about it. That requires self-control as well.

It happens man, I have made similar mistake but not buying game though, but we need to ensure we don't repeat it because it's easy to say we are doing DCA or we have set of rules which we follow before making any trade but we often tend to get carried away by the emotions especially when the market is fluctuating. I have been doing DCA which I started in 2023 and after some mistake which I made like doing future trading with high leverages, investing into shit coins and etc I have learnt the lesson and I don't say I am 100% but won't be repeating my mistakes.

Not only when it comes to investments, but for us to succeed in our life’s goals and targets, we need self-discipline and control. If you lack that, you might be wasting your money and time trying to reach your target but knowing you don’t exercise discipline and control, it’s hard to see you succeeds in the end.

However, self-discipline and control can be learned in time. But maybe, committing some mistakes at first might create a good motivation for you so you won’t be repeating the same mistakes again knowing that would never result into a desirable outcome.

It's okay if you have already did it as that's part of your personal happiness. But if you want to become a long term holder, what you have to think of is soon if you do, you'll be able to buy a lot of games.

Not to say a lot but tons of games that you're going to get bored because you've been patient with your holdings and accumulation.

Self control and patience and at the same time delay the gratification will help you a lot on this phase of being a long term holder. If we're going to say it, "if we did, you can".

I would have said that you acted unwisely but reading further showed that you converted your mistake to a lesson not just for yourself but for others. We all make mistakes in life but what is important is the lesson we derive from our shortcomings and our ability not to repeat such an error. The ability to separate needs from wants will make you a good investor. Focusing on out basic needs is what will give use the privilege of saving to invest.

There are always what to spend or waste money on. Manufacturers will keep producing attractive products that will entice us to buy them even when we know that we don't really need them. Self-discipline is very important if you want to save and invest. Buying a video game is just for pleasure,  meanwhile, investment should always come before fun. If you have a burning desire to accumulate Bitcoin, you should also imbibe the virtues of focus and self-control.

As most have pointed out, its easy to get side tracked and have a momentary lapse in the
DCA vision. I'm sure its happened to everyone, I include myself! Just look at it as a reward
for all the previous DCAing

The main thing is you can refocus, learn from mistakes and continue to DCA.

As leadt you can enjoy the game OP.

It is not only applicable or not to be neglected even by old timers mate because this is an attitude
a trader/investor/gambler or any one in the world of money making must have because if you cannot control your
Emotions and mind then what waits you in profiteering? you will end up being a loser everytime because you cannot
manage your self in either seeking for more or selling for less in aid of desperation.
Learning is one step from Failing , we must not afraid to lose because this will thought us how
to be more vigilant and knowledgeable over the days.

Well if you have sufficient money, of course you can combine the two strategies. You can DCA while also setting aside an amount for lump sum buying in case there's a dip you think is a perfect time to buy.

The disadvantage however with trying to get a good timing in the market is that you can never be accurate. A dip doesn't necessarily mean a good time to buy precisely because it can actually dip further. In the same way that a rise in the price is not necessarily a bad time to buy precisely because it can actually rise further as well.

This difficulty in timing the market is exactly the reason there's DCA. After all the goal is to hodl.

You will eventually grow out of your wants and desire to build something better.

I was in a similar position about a decade ago, constantly buying the shiniest and greatest gadget money can buy from my paycheck. Investing was never in my vocabulary, and I was just getting started with bitcoin. Then come 2016, I eventually settled with a 1-year-old flagship phone and started buying bitcoin seriously. When I realized my potential gains, I never looked into buying the greatest gadget again, and just continued stacking up my buys until the bull run of 2017 happened. I was able to start a small business and continued reinvesting and then I'm here, a man in his early 40s already set for life in a country where the cost of living is lower compared to other countries.

It took me years to get rid of my bad financial habit, although I was able to achieve it thanks to my determination and grit. That game you're talking about? You'll grow out of it in a few months and you'll be left thinking about what you could have done with the money and try to make up for it by being serious with your DCA strategy.

On the time that you arent matured then for sure you wouldnt really be minding about your future but rather you would really be that making yourself trying out to accumulate things as much as you could specially
when it comes into those things which arent really that detrimental when it comes into our future on which this is something that very normal.. To those people who've been wary about tinto this stuff are the ones
that would be able to make out some good decisions whether they should really be that wise when it comes to their choices on which they do know that this is something that would really be important.
Investment is a personal choice whether someone should really be that doing or not, it would be always a matter on you choice on how you would be finding yourself
on making those decisions.

Dont beat yourself up too much, the fact that you at least recognized that you had a problem is like 90% of the way to solve it. One strategy I use, is called the the fuck it bucket, when I want to go do something I write it down on a piece of paper and chuck it into the fuck it bucket. I wait a solid week after that and go back check the fuck it bucket. Sometimes what i wanted a week ago is suddenly not as important as wanting it now. Sometimes it is, but if that is case i save up what i need to deal with the fuck it bucket item vs dipping into cash reserves.

All these little tips and tricks, will help you next time this comes up. Learn, grow and move on to the next learning :)

Thanks a lot mate, your advice would really go a long way. I'll name mine a little different maybe like think twice bucket 🪣 😏. So I would actually have to think twice about my expenses. Just that now I'm thinking it goes a bit sideways from your own.

Realising this is a mistake and you’ve made up your mind to work towards amending it makes a lot of sense. Bitcoin accumulation shouldn’t be at the expense of you neglecting your basic rights to what you need the most now. With the way you feel bad about this decision you’ve taken, it means it was not necessary for you to have bought that game and you would have still being living a normal life with or without the game. Lesson learnt, so learn how to control your urge next time, as it might lead you to commit a mistake that is not reversible again.

of course, investment requires a lot of self-control.
A gambler must also have self-control both when winning and losing so that profits can run continuously well. otherwise a gambler can lose all his assets. Likewise, with investment or trading self-control is certainly an important factor for success.

It is true that having self-control helps you overcome any dilemma that comes when you are trying to invest in Bitcoin. As an early investor, it is necessary to prioritize self-control so that you will not make any mistakes in the process of investing. Some people are thrilled to sell off when the price of bitcoin makes an upward move without minding to understand if it is one of those times when bitcoin fluctuates so that people will jump in and then it drops. The same thing goes for buying. There are times when bitcoin will go down, making some people fearful, which leads them to panic sell. This is where self-control comes in; it helps give you time to analyze and calculate before you can get a solid conviction and then make your decision.

What if you won the game after using the money for gambling, would you have insisted sitting it as a mistake or used the term lacking self control. It was which you felt was good and more profitable for you, which is not actually a good mentality as per arrangement have been made to invest in Bitcoin and not gambling. If you feel like gambling anytime, keep aside the money for gambling and any one for investment should not be tampered by any means.

When someone has just started investing, of course they have to be very careful and they should not do it greedily because it is very difficult to control themselves when they are greedy in investing, self-control in investing is really needed so that they don't make a mistake in deciding to sell or buy it. because if they don't do it calmly or in a hurry then it is very likely that they will make a mistake in the decision they make.

Those who panic when they see market prices going down, of course they don't understand well what they are doing, because if they had a good understanding of the investment they were making, of course they would take advantage of the opportunity to collect and hold it until they make a profit from that investment.

Well as we say in my country sometimes "every day is a school day" meaning we learn
something every day. Its important to be able to identify a mistake and remember to
not duplicate those mistakes.

and in the end of the day according to the OP there is no serious harm done, onwards
and upwards!

The truth is this is one of the main causes why most people will never reach their dreams, spending our money has never been easier, and not only that, we have almost an unlimited amount of goods in which we can spend our money, so most people find it very difficult to save any money at the end of the month, and then they will tell themselves that next month they will save some and begin their journey, only for the same to happen again and again, and then they will find themselves decades later with the same goals but having made no progress at all.

There is no substitute for self-control to do anything in life. It's your own mistake gambling and investing are not the same thing. It's okay to work hard but have no idea if you can win the game that you have spent money on. But if you had invested in bitcoin you would have got a good double profit after some time. It is better to keep gambling money separate if you combine it with investment you will not be successful in the end.

Not just self control but the person must also have discipline so that he can stay focus on achieving his goal and wouldn't be distracted by unnecessary desires. To be a long term holder is not easy and this is one of the challenge, that you will face. I don't understand you OP, by saying that you have replaced the money within one day. Is it a small game, I guess because if it was to be a Play Station 5, I don't think that you will be happy with your actions because you wouldn't be able to replace it easily. Stay focus on your bitcoin target with regular DCA weekly or monthly, and don't get distracted again because you might make a decision that might lead to your regret.

I also quite agree if someone or everyone wants to separate gambling money from investment money because these are two different sectors that both require basic capital to run them. However, what needs to be understood here is that the two are not the same, so I also think that the best option for the OP is to separate his gambling capital from his investment capital so that he can easily see which sector can make him win and get the profit he hopes for.

Investing is a job that is very common and also so good that it has been done by almost everyone in the world with very different asset choices. Although in the crypto space itself the best choice is Bitcoin and that can be the choice of many people at any time, while gambling is a temporary thing that is only used by some people to have fun even if they lose. Because if someone wants to look for a more logical and more certain profit, of course not in gambling, but in Bitcoin investment which has generally been proven to be very good.

It seems like you are already tempted to buy games with money that you should use to invest in Bitcoin. That's okay @OP, it's normal. You don't need to be sad because you can start collecting money again. You still have time to continue your investment in Bitcoin.

There are many other temptations that you may encounter later in your journey as an investor. But if you have good self-control and still want to become a Bitcoin investor, you won't be tempted by anything. The money you have prepared will be used to invest in Bitcoin.

And in investing in Bitcoin, we sacrifice our desire to be able to collect the money to buy Bitcoin. It won't be forever because there will be a time for you to get a profit from your investment. And when that happens, you can even buy many things you want. I'm glad you remain committed to being a Bitcoin investor and sticking to your plan to accumulate more Bitcoins.

Reaching to a point where you are sort of like doing it automatically and not really trading based on your emotions or you thoughts is the key. People who are amazing traders do not even "think" when they react, they are like a machine, they just trade when it hits where it should hit. This of course can't be reached in a single day, you can't just make that happen, there is no way that you would be making that kind of income right off the bat. So, what should you do?

You should first learn how to trade, all about TA and so forth, all indicators, levels, walls, everything and then you should start trading with money you can afford to lose. You will realize that, after a while, it will become a second nature to you and you will make good profit.

Did you sell all the bitcoins that you have slowly accumulating? Doesn't make sense though, I mean how much have you accumulate for months though? No need to answer if you don't want to. And I think you have to re-learn a lot of things being a supposedly long term holder because obviously you have done a mistake. Anyhow, if you really learn from it, it's not about emotions, it's about priority. Is that your priority in life, to save and buy that game? And if you are really here for the long term, and that is your goal, I doubt that you can simply dump your Bitcoin in the worst situation as the market is going into a correction just to buy those games because you want it. So again, re-tool yourself, if might not be the end of everything, there are still light in the tunnel so back to zero to you and invest again.

Normally, it is easier to say than to act. You digressed on purchasing and accumulating of Bitcoin and hodl for a long-term investment and yeah, you were able to had saved up the capital to kickstart your Bitcoin journey but you forfeited the plans for a mere liability game that is typically just for fun.
And here you are, restrategizing, harmonizing with all sorts of regrets and claiming that you have learnt your mistakes and have decided to restrategise in other to make your dream of long-term Bitcoin investments a reality.
I wish you well dear Bitcoin potential investor but I must tell you this that "it is not done yet until it is done" and so, your inability to take control of your emotions is not over yet until it is over.
You must take it a quest of challenge and determination if you make successful meet up with you goals in life.
Once again, it is easier to say than to act. Be determined a d stay courageous dear.

Self control can never be lost in trading and it is far from being neglected. But it is true that many of us adopt the strategy of holding bitcoins for long term using DCA method but later due to various reasons he neglects his small investments and later calculates that he has made a big mistake. Because chances don't always come. So we all should realize by ourselves that losing control and neglecting investment is a big mistake.

AAA games these days cost $60-70 - if such deviation from your plan is big enough to cause concerns, you have a much bigger problem. You need money to make money, $60 or $100 is not enough to realistically turn you into a millionaire. Yes, it was the case in the past when someone who bought BTC for $3 and sold for $60k is not crazy rich, but Bitcoin will not go from $40k to tens of millions, there is no chance it will happen for many fundamental reasons. So you need to be making a lot more money to earn decent profits from Bitcoin investment.

Loose guard in any risky investment and gambling and find yourself to blame. Since they are risky, then they are such that need our knowledge, they need our skills and expertise and also our balanced psychology. One should be smart, especially in investment, and recently, I discovered that one shouldn't just make a decision in trading and investment, but first conclude on the idea, digest it, and deliberate on it before making that decision. This is to avoid making the wrong call. Even when the decision is actively known, one should further query the decision to ensure whether or not it will be good and not deceptive. Unfortunately, people do otherwise in most cases, they are too hasty to make trading decisions and will not even be applying the right management to reduce the bad effects of their excesses.

Yet, you can help yourself in this regard if you can be experienced and disciplined with it as you can't just be doing a thing wrongly and expect the best from it even if you are the most disciplined about it. However, discipline will help anyone to have the strong mindset to say no to wrong approaches/decisions, especially if they do not align with your trading system and plans. But it is so good in thought than in practice, which is why everyone must ensure that they are determined to control themselves. By this, you do not get carried away by what you see whether it is profit since you can gain more or less, a self-control will help you make an informed decision. And since you can either be back in profit if your decision is good or liquidate the position if you fail the Yes when you query yourself about the decision you made, one needs to control their thought towards trading. Meaning you might have done something wrong if you fail the Yes and the best thing is to liquidate at that very time you fail the self-query test. That is one of the good ways to exercise self-control, even in positions.

I also quite like to set aside money when I want to gamble because on the one hand I also don't want to disturb my investment money in Bitcoin. I think what you say is very true because basically investing and gambling are two different things so it is necessary to set aside money for each place so that someone can easily control it themselves when doing both simultaneously. And if someone can be very addicted to both of them, I don't think that's wrong as long as they don't bother each other with the money they each have set aside.

There is a lot of knowledge that must be learned before starting to invest, including self-control which is also very important to avoid things that you don't want.
In theory, investing requires speculation about what will happen in the future and of course in investing we do a lot of research until finally there is a plan for the future that we determine for profit making, but this cannot be carried out or does not run smoothly if there is no control. whether it's greed or panic, basically control is important and that is included in the things that must be controlled or studied before making an investment.

Only a few people have mastered the art of self-control. A lot of people might scream that you're indiscipline and all, but the truth is we all fall into these types of urges in several ways.
Yours was a game, for some, it's a vacation, phone or laptop an expensive dinner date, etc.
It isn't just about Bitcoin investments, it's everything. It could be when you saving money for something. All we have to do is keep disciplining ourselves and learning as we go.
It's okay that you have learned from this experience as that's the main point about life. We should always learn from every experience in life.

I'll guess it's PALWORLD right? :P Just kidding.

TBH, there's nothing wrong with rewarding yourself with something that you want as long as no one will get affected when you do it. In this case, it's your investment that is affected. How much is that game that you bought? Is the amount of money that you use a huge chunk of the supposed money that you will be using to buy Bitcoin? If that's the case then I guess change something about it. :)

It's good that you already replaced that money. Having self-control doesn't mean that you will not buy the things that you want. At the end of the day, it's all about balancing which ones you want to buy, and which you want to. It all comes down to your priorities. If you're enjoying with that game you bought then I guess there's nothing wrong with it. :)

Overall, having self-control is a good trait, but don't come to a point where you will not reward yourself when you do something good. Just balance it.

Yup, there is a huge difference between screaming and trying to teach others about basic discipline about the investment or trading without practicing it as practicing it is not everyone's cup of tea and moreover people fail not because they don't have self control but rather for the fact that they don't want to change as they don't learn from their mistake. It took me hell lot of time to understand this and avoid this mistake hence I am not trying to offend anyone but rather sharing my own experience.

One of the biggest challenge as a long term holder is on how established and disciplined you are or simply having that dedication on holding up your bag no matter what happened.
Ive been there and i could say that it is really that hard to stop yourself when it comes to those temptations on selling out specially if you do really like on buying something then
you would really be that making  yourself having that kind of struggling on fighting whether you should hold or sold those coins.  8)
If you are someone who are really that emotionally impulsive and doesnt have that kind of discipline then most likely you would really be ending up on selling it out in the end of the day.

Of course, that is the challenge. Some holders tend to change their plans midway for one reason or another, but if they are truly able to persist then greater returns can still be expected. Of course this is not about how well established you are, but it is about how good you are at preparing everything including a reserve budget in anticipation of emergency needs.

Planning long-term investments is easy, but what is difficult is managing them and maintaining them. You can't just have an investment and hold onto it while you don't have emergency funds, I think you're just one step closer to changing your plans if you have an urgent need. Holders are required to have emergency funds regardless of their abilities. In essence, emergency funds can help them be holders for longer.



Every investor certainly has the temptation to sell at a high price, but if they stick to their plan and have prepared everything well, then there is no word selling in their dictionary, especially in the short term. Holders will also sell their holdings in the future, but not with a change of 10% to 20% from their initial investment.

Well things with the halving, with the ETFs they always raise the spirit for this year , I don't know if the price will go up, if it goes up it is only Worse Because of the Effect of these oil prices, but why is it going to grow because it is time for the Halving to happen ? I think for me things are very real when it comes to making bitcoin predictions, this year I think that it will reach $100k, but I don't know how much it will stay at that price, because there will be many I'm going to sell there at that price and they can make the difference, so it's difficult to establish things, I'm rather inclined to think that when it reaches $100k we have to Hold on , because we don't Know the Reactions of the Other Traders.

Investors are people who , despite all Prognoses , have good Faith that their Investment will pay off , of course this is just what I think for bitcoin , there is no other way, I will Always see Things like that , and now I Will never have that Conviction , something that many people lack.

Most of the time, the way to learn your lesson is to commit mistakes at first. So I guess what you did is not actually bad, it only gets bad if you never learned from it. And the fact that it's your hard-earned money so you have all the right to spend it on your wants and desires, and just invest in bitcoin if you have save again sufficient amount of capital.

However, self-control is always at its utmost importance. Whether you're in for investing or for any attempts in life, self-control is always necessary so you can focus and go straight to your goal without fallbacks and lapses.

There are certain things that beginners must learn before investing, without mastering Bitcoin investing or trading. Being overly greedy is an important lesson because an overly greedy investor can sometimes profit from investing because he can't hold himself steady for a profit after investing, which often leads him to sell the investment in a panic market. Self-control is another important factor because an investor who cannot control himself can never invest profitably.

It's good that you have learnt your lesson, some people still don't learn their lesson after experiencing same situation that you went through. To become successful, you have to be discipline and discipline comes with self control. It's self control that'll help you to hold your Bitcoin for many years without thinking about selling them. Investing early in Bitcoin needs patience or you can't hold for very long and you'll be force to sell your Bitcoin due to fear of the market crashing and making you to lose the money you invested into Bitcoin. Self control helps you to not belike other investors that'll be regret for selling their Bitcoin to invest into the new. and  trending altcoins that won't last in the market.

Self-control when you want to make a sale or purchase, this will happen at every moment.
There will be many hurdles that will be faced when the market starts to rise or fall.
Self-control belongs to trading psychology, and this will determine where we are going.

Some investors or traders sometimes can't control themselves to follow according to the rules, they panic too much when the market is not what they want.
The need to have a backup plan will be very useful when things happen outside the original plan.

https://www.talkimg.com/images/2024/01/27/kfcmH.png

Every beginner who will try to invest must first learn about the investments or trades they will make, because without knowledge they will easily lose the money they invest and also the trades they make, so it is very important for them to be able to learn it first and then try it according to their ability and can bear the loss if they make mistakes in investing or trading.

Yes, in investing and trading, self-control is of course very important, whether beginners or those who already have a lot of experience in this field, because if they cannot control themselves, they will of course do it greedily in the hope of getting big profits, but They make the wrong decision, resulting in losses from investment and trading.

An investor's self-control will only be visible when they face bad or unfavorable conditions at a certain time, because we can see the level of panic that can arise in themselves when facing bad conditions that are currently occurring in their investment.

However, in this case we also need to differentiate between investment and trading because they are not the same thing even though they can be done simultaneously on the same assets in the market. Because the more profitable investment is investment in the long term and this is of course more focused on Bitcoin, while trading is something that is not always profitable in the short term or in the long term. So every trader still has to monitor the market more often when trading on one or several crypto assets.

I'm not sure what kind of bad conditions you're referring to, but if the problem is an urgent need for money, perhaps investors need to reverse their plans and break the rules. As a good and experienced investor, in my opinion everything needs to be prepared well. It is never advisable to put all your money in investments when you don't have an emergency budget that you can safely save.

Having an emergency budget is one of the preparations for long-term investment planning. You won't easily break your investment plans and rules just because you need money, so it's best to consider everything before investing.



Not all long-term investments are profitable, and trading is no different. It all really depends on how you strategic approach and adjust your investment strategy and asset selection, so it cannot be generalized.

This is a best advise , Simple but full of truth inside because in anything that needs achievement it is our dedication and perseverance is needed and without self control nothing will be achieved so thanks for this as reminder for everyone that dealing specially in so much volatile like crypto market , each small wrong decision will result to bigger result so try to focus and have this attitude if you wanted to succeed.

I like the fact that you bring out a real life experience and not some cooked up story that tries to paint the investing journey being easy when it's not!

Self control well I don't know about that...The fact that we have needs, other responsibilities or commitments..DCAing or investing isn't easy and takes alot of sacrifice to succeed in it, and whatever happened in your journey is normal AFAIK and perhaps you need to be saving for two things now...miscellaneous expenses and Bitcoin to try avoid emptying the crypto bag for unforeseen expenses as you can't guarantee this from happening again.
Otherwise, self control alone won't work, it needs a supporting system as advised above and good luck with the DCAing :)

It's fair to say that making a profit from trading is a lot harder than holding, but that doesn't mean holding will yield better returns than trading. I agree with you, our profits will depend on our knowledge, skills and experience. It is not the case that the holder can make a profit and the trader cannot. I also prefer holding rather than trading but I find it funny that many people cannot trade, cannot profit from trading and they always say that trading cannot be better than holding. They are just trying to cover up their weaknesses.

Strategy is the most important part and this is the main reason why others grows or falls because of their ways in investing and their way of looking for their profiteering .

Self control , and also dedication that is what we all needs to  take care because from there this is the reason why we are falling from losses.

Totally agree but you have to understand that you've got to consider taking profit along your investing and hodling journey because if it's all hodling and hodling and not taking profit, you wouldn't be finding any joy that will be otherwise present when you're having a lot of investment and a beefy portfolio, it's also a form of control to be able to take out a portion of your investment into something that you can use to buy yourself some stuff that will make you happy, trust me, you don't want to end up having all that investment sitting around and not being used besides staying there, of course this would only be applicable to bitcoin to a certain extent but you need to understand that it's a different animal for altcoins that are totally uncertain when it comes to their future, a lot of them don't make it past one ATH and then never grow again.

correct , not everyone can be a trader but all of us can be a HODLER meaning we are deserving to profit in different perspective and different strategy so yeah this is what we have to do or else never engage in the forum.I have tried this for many times but fails and now contented in Hodling of course .

Discipline and consistency are the main keys to an investor's success.
For example, when Warren Buffet said I don't invest in technology, he really did, until now he hasn't invested in technology.

The most important thing is to understand your mistake and make a decision not to do that again. The decision should not be an empty promise to oneself but that which is backed by an action. Some people after making such mistake and identify it, they still go back to it.

Everyone can trade regardless of profit or loss. Understanding, knowledge, experience and skills are several things that can support a trader in getting maximum results in the market, but simply put, traders who buy at low prices and sell at high prices are profitable traders compared to traders who buy high and sell at a loss.

For some people, trading is no better than holding, but others have the opposite mindset. I don't blame either of them as long as they know how to take advantage of their activities. For me, trading or holding are just two options to choose from, both of which are profitable and can also make you lose.

The OP must be disciplined and really not disturb the allocation that should be intended for long-term investment. After reading the OP's thread with thoroughness and planning, which in my opinion is mature, all that remains is to apply discipline and not disturb what has been determined. The challenge of an investor is boredom in routine, this is real. And I was not spared from these actions and often made mistakes in holding.

Maybe this can be a good lesson for the OP to be firm and stronger in carrying out the plan. I hope that the OP will return to the original plan.

Mistakes are inevitable and the good thing is that, we always learn lesson from making those mistakes and the lesson becomes what come out with you as experience,  many market speculators thinks that mistakes are negstive aspect rhst don't have any potential gain for their victims, but I have learned with time that, most times, what protects us and our interest the most is to take caution and lessons from our past mistakes and making sure that we never repeat such mistakes again and also using that experienced to make future gains and profits.

I don't have anything to tell you concerning this stuff because holding a bitcoin for long time it will profit you when the market is very but if the market is a in a bullish it will also profit you for long-term investment instead of short time investment so therefore our encourage all my people to hold a bitcoin when the price is low and Allow it to accelerate high before you can say so that profit manifest one

Self-control and discipline are the two key elements of investment. Many new investors are looking for a quick profit and do not want to learn anything about the workings of the crypto market. Go for Bitcoin investment for the long term because it is more profitable; look at the ROI since 2013.
As a newbie, you should learn to control your emotions in trading and investment. Stay away from shit meme coins because you might lose your investment. Invest only in BTC and ETH for the time being. Explore the market and analyse different options before investment.

It's good to know that you've gone back to your initial plan of staying on Bitcoin by readjusting your priority. You don't place your harvest season in your sowing season. You invest now for tomorrow's financial gratuity and satisfaction. That's what every investor aims at. Don't let immediate gratification distract you from your goal.

Again, I won't disparage anyone for taking out their savings to get themselves some vanities that make them happy without investing it. It's their choice to make. Your money and your choice, and hopefully your story isn't a fairytale.

Yeah, but people still lack the ability to learn from their mistakes. After all my mistakes in the past, I came to the conclusion that a big bag of wealth could be realized if we bought and hoarded the right assets. Bitcoin has proven to be one of those special assets with unique returns on investment. So it should be wise to start investing in bitcoin since we all believe it is the future.

You are encouraging people to wait until the price dips before they start holding. Dont forget that any price of bitcoin can be the dip and anytime is a good time to buy. Imagine bitcoin at 42k now and the price went up to about 57k without coming below 42k, do you know that at 42k will be considered as a dip if it mived from that 57k it reached and retrace to 42k.

but they are almost the same because once your are disciplined person then you are also has
self control and that is why they are working the same.

well that is already given , if you support bitcoin for long time then you are already profiting now.

stay away from Pump and dump , specially meme coins and many shitcoins or else just trust bitcoin.

Whatever we do, having self-control is quite important. Many people not just in the investing industry have failed but also in others like businesses because of the lack of control and planned activities will certainly lead to major losses and failures. Keep in mind that every single mistake we make has something that ends with bad results. Therefore, it is a need for us to think several times before proceeding to what we think. Failure is not a thing to be afraid of but avoiding them is necessary if we know that there is a way. We can't think right if we never fail, so let us accept that this is gonna happen in real life.

I guess OP you should have already built up emergency funds or have reserves or extra cash that you could use for your expenses, touching your investment money is not very wise of you, its true that we can often get off track due to distractions expecially when you haven't built enough discipline as a early investor.
They are few books I could recommend to you if you find this as an issue.

Brian Tracy no excuses, discipline is everything 🙌

Yes, those who cannot control themselves in investment and business will do it greedily and not based on the knowledge they have. If they decide on a decision in investment or business they must of course study carefully the risks they will get if they decide something. and they must be able to overcome the possible risks they will face, but if we do this without being able to control ourselves, of course we will make decisions in a hurry and not think about the risks that will occur after making that decision.

Failure is not something to be afraid of, but we must be able to learn from the failures we have experienced and also correct these failures so that we don't do the same thing again in making every decision.

Learning from experiences , everyone made a mistake for how many times but doing the same mistake is stupidity and not to be in the line of me and yours. and don't worry mate we are going to taste the sweetness of victory and we must be ready now and tomorrow.
in the market or even in gambling or in life , we are in need to have self control .

Basically you don't have to make mistakes until you get better, but you are right that learning from mistakes is the best way to recover. What you need to do is keep trying and improving your abilities, that also means you have to keep learn and learn. Making the same mistakes is something that needs to be avoided, but not everyone is able to avoid it.


Self-control is part of psychology, every trader, investor or gambler must have it.

There is nothing wrong with treating yourself or your family with a little something now and then, so I wouldn't call that a mistake and something you should have remorse about. I know you might feel bad that you didn't buy more Bitcoin with the money but it's okay, since you've been doing DCA, you can do that again when you have the funds. You don't need to stop living your life just so that you can accumulate more Bitcoin, just invest what you can afford to do, don't neglect other needs and desires, and put all your money into one place.

Making investments and preparing yourself for the future is a good thing, but we also need to make sure that we are not forgetting to enjoy our lives when doing that. If you have a family, you also need to make sure that they are happy while you do all these things. You shouldn't use the money that is supposed to be used for the family to buy Bitcoin because it's not worth it, believe me.

Trust me - when you have everything but you don't enjoy it, then you are just people who forget to be grateful. Many people forget how they can enjoy life - while they have lots of money and investment assets. Focusing too much on the future is not entirely good - but it all requires a balance between the future and enjoying it now.

Some of us may be willing to endure hunger just to prepare for a better future - but that is not the best way. The future certainly needs to be prepared - but that doesn't mean we have to sacrifice many of the things we need to get today.

Many who got into cryptocurrency recently let say since the 2017 bull run has come in with the expectation to get quick profits,  and at that,  the focus was on altcoins since the belief that altcoins will give them such gains within a short term,  this has to lead many of them into investing in the wrong coin and at some point also making some regrettable decisions that have affected their capital for both long term and short term investment.

And only after they bad experience, did they their realise that Bitcoin is the only most suitable investment as far as long-term goals are concerned.

This is ironic to say the least, if those people had decided to go for the method that they considered to be too slow at the time and they invested in bitcoin and kept holding it, right now the profits they could have accumulated would be huge, and instead many years later they are still worrying about which altcoin to buy, as if they did not bought bitcoin back in those days when it was so cheap, for sure they are not buying it now that it is way more expensive.

Why must you set an emergency funds when you are not even financially buoyant. Now you collapsed with even the emergency funds, lolz. That is bad plan. Well I will not blame you because I don't know the magnitude of the problem that came up for you to use your investment to solve the issue. Well we also thank God that you have finally replaced it again but don't do that mistake again and please don't set emergency funds if you are not doing something to back your investment because you will definitely touch the investment again.

I wish you all the best in the bitcoin investment journey.

This is quite true, not everyone is made for these type of investments and that is why we see them not do all that well. I believe that the best thing we could do right now would be just focusing on how we could improve that type of income, and that means we need to reach to a point where we could make some returns, and easily enough, that will not be all that quick.

We have one path forward which "guarantees" us profit, which is buying and holding as long as we have to and most people fail to do that which causes them to lose money. If you fail to do that then maybe it is a bit your own fault that you didn't get to make any profit from crypto because people gave you basically the roadmap to get rich and you still declined to take it.

Learning how to manipulate your own feelings could sound a little bit tough to handle but that is how the market works and there is really nothing you can do with your emotions. We should consider the possibility that it will not be possible to make money by following our emotions, so we should consider trying to ignore the feelings and instead we should be checking the factual stuff, like data and charts and indicators. That way we would be able to actually make some money, and it would not be all that confusing because each time they would give the same results to everyone. When you do that, it will definitely create some sort of greater return and it will give you some decent profit in the end.

Those who are not sure about Bitcoin will continue to think that the current price of Bitcoin is more expensive, even though seeing how the last ATH has not yet been reached.
There will be no chance for people who always think the current price is expensive, even when the price can drop to below $20k they still say it is expensive. they will only regret the nonsense they did when they see the price of Bitcoin rising quite drastically and consistently.

Self control and discipline is something that you would really be needing if you are really that tending to hover yourself into this market on which you would really be needing to be serious if you are really that tending to hold for long term. If you are really that finding yourself that being that too impulsive on things then you are really that bound on committing out those kind of actions like spending up into other things and using up
your Bitcoin holdings then this do really signifies that you arent really that good enough when it comes to self control on which you do really that make yourself that committing those mistakes.
If you are really that serious on holding or investing with Bitcoin then as much as possible  then you should really just that make use of fiat instead on trying out to spend up your coins
which we do know that when it comes to potential earning or potential profits then it is really that highly that probable in the future although its not guaranteed but we do see that there's high potential.

Having self control of your spending choice when you have a target to achieve is very important. Even outside the crypto world, there is what we call scale of preference where you arranged your wants in the order of which you need them the most. Lump summing bitcoin was your priority but just some little distraction made you to take a decision you never planned for and now feeling regrets. It is good that you know the implications of the decision you’ve taken and you won’t make such mistakes again in the future. The game you bought will serve its purpose though you won’t feel too happy because the investment would have made more meaning when invested.

One of the things you have to know is that cryptocurrency investment aside from Bitcoin long term investment which is the only safe investment,  any other coins or short-term investment is basically a total gambling and anything can happen along the line,  so take cryptocurrency investment as another form of gambling and at some point, a patient is a vital tool because your ability to wait for your investment to materialize is very important.

Sometimes we make the mistake of changing things unduly and for that, it becomes very crucial to pace everything under view to know whether we making the right decision or not.

Don't be too hard on yourself OP, you didn't do anything wrong buying a game, you're allowed to have fun and if the net happiness in buying that game is higher compared to investing it into bitcoin then you've got more out of that game than investing and it's not like you didn't make up for it the next day. It's not also a problem of self-control OP, you being aware that what you did feels wrong is a sign that you've got the control and to be honest, if you really feel bad about buying the game, you would've done a refund or just quickly sold it to the market the next day but you've kept it so you're doing good. You don't have to put all your money in invested, it's a good thing for you to have fun too and enjoy life.

Seeing what happened to your in the past was because your are not well disciplined.because if your well disciplined you would have a greater chance to understand the basic of wanting to spend capital or resources at a wrong time and for wrong thing(game).but I still relate that experience is a great teacher.i know you won’t try to make such mistakes next time.because of the you would have understand priority by now.

well thats true, indeed at the early time of being an investor, when your capital is limited, or even scrapping some left over money for investment like when i was still early into the game, it is all about self control, whenever we got profit from our trades or investment, first think to appear before our mind is definitely buying some thing that we have longed for since long time ago, but then we came to realization, is that truly necessary, what happen if i compounded the money and grow my income? thats the thing that i always have to think about and have self conflicts after all its rough world to live with so many entertainment but also quite expensive ones that im sure the sole purpose is draining us of our money.
in regard of gaming, i too an avid gamer back then but i realized that doesn't matter how many time i play game i just ended up with nothing finishing a game doesn't have inherent benefit to my well being so i decided to retire.

If we have realized the mistakes we made in the past and we will try to correct those mistakes and promise not to repeat those mistakes again in the future, spending capital at the wrong time will certainly make us suffer losses and will not be able to get any profits. is this and we have to make this an experience for the future and we will learn about it so that we can do better in the future and we have to really understand carefully what we are going to do and also we have to be able to control ourselves when deciding something and not never been in a condition that was not good for deciding something.

There are two possibilities if you spend capital at the wrong time, the first is that you will lose and the second is that you will not get maximum profits. Therefore it is very important to study the market situation and carry out analysis before investing because this can determine the results of your investment in the future.

I would say there are two possibilities, you either will make more profit and quicker, or you will make less profit and slower. I mean if you buy at 60k, it would take a while for you to make some money whereas if we are talking about something that will benefit you then you are going to end up with something that should not be all that easy. I hope that people could really see how we could get to a point where we could make some returns. I hope that we could see the situation to grow better and bigger.

So, the situation doesn't really change all that easy, it changes based on when you enter and how much you profit and how quickly, but as long as you keep it up then you are going to end up waiting for it to get better eventually.

For an investor the timing at which they purchase their assets is way less important than it is for a trader, people aiming to become investors have for the most part to only worry about two things, to accumulate capital at regular intervals so they can invest and decide which assets in particular they want to buy, once they do this the only thing left to do is to buy those assets, unfortunately there are many people out there that makes this more complicated than what it really is and that is why they suffer massive losses.

We should, so that we won't lose huge anymore and we will now earn a better profit. Wrong time of spending a capital must be when the price of assets are high and this is why we are taught to only buy at the lows, so that we can be able to sell easily once the price recover and rise. It's also important to choose the right assets because even if you follow that rule but you pick a bad asset, you will still lose.

Self-control and decision-making are separated or not the same, and when deciding about something, we must be clear. If we control ourselves, how can we able to decide and proceed? Self-control is still needed so that we can lower our risks.

Yes, it is true that for investors deciding to buy their assets is not as important as a trader because if a trader decides to buy an asset they must have it at a price that when they buy it must be at a low price so that they can make a profit when the price is high later and every trader Of course they have to prepare their capital according to the profits they want and for investors they have to be able to hold their assets to get profits from investment and they also need capital which they will not take before they reach their investment target.

"BUY LOW SELL HIGH"

This is the basic principle on which trader should really be following but the main question is, would you able to do such thing? For sure all of us wont really be wary on what are those sweetest spots
This what makes tons of people do fail up on dealing up with trading or investing just because they dont even know on what they should gonna do. Self control is really that something that should be applied to all
on which it would really be just that right that you do have this kind of quality as an investor and wont really be that making yourself get blinded or being rushed up on the decisions that you are making.
If you do find yourself having that kind of problem then its better to assess yourself on what you should gonna do.

Sooner or later you would really be able to find for yourself or realize onto those things and you would just adjust accordingly basing up on what you are currently facing
or really be that dealing into.It would be just that depending on you on what are the things that you would be gonna doing.

You brought just one game and all hell broke loose? But remember that you have been DCAING into Bitcoin, so if you decide not to DCA this week and instead use the money to purchase a game, how is that the end? DCA lives on, the following week you will continue your DCA, why are you pained?

Your story is confusing, honestly, you already have some Bitcoin and till today I am still DCAing, it doesn't matter what the price of Bitcoin is, I am not ready to stop accumulating right now.

Also, we need to always remember ourselves, I can't do without gaming either, I do buy games when I can afford it, we only live this once, do what you love at times, it only gets bad when it's getting too much, enjoy yourself while you are accumulating Bitcoin for long term.

Always remember to LIVE while you are struggling for a better future.

The OP probably believes they have to be perfect in order to make money and this is not true, I am sure that over the years many people that had the plan to buy bitcoin weekly or monthly have failed on accumulating the cash necessary to do it for one reason or another, but as long as this is a one time thing and it does not become a pattern, then for the most part the positive results we can expect out of our DCA strategy should remain relatively intact.