Anyone who is into trading must have had some ugly experiences and also some good memories that either changed their lives or improved their financial status.We all know trading is risky and can cause emotional trauma if not seen and taken in two ways,either positively or negativily,either you win or you lose.It can be good and at the same time can make you sad.
What are those bad and good experiences you've had ever since you started trading?
One of my worst experience in crypto trading was when I was in more than 50% profit instead of taking profit and close the trade thinking that the price would continue to pump, unfortunately due to greediness I left the trade without putting a Stop Loss Lo and behold when I came back to check my account was already in liquidation, having traded with a high leverage using Isolated Margin, that was the first I experienced the high volatility of cryptocurrency price, honestly I felt bad and I was emotionally down that day I had to summon courage and move, though I quit trading for some time. This is a pretty common mistake in trading because we are controlled by our greed. I think all of us experience this and that we want to earn more. That is why others are just going to hit and run or just set a daily goal and if they achieve it then they will not trade again on that day because, I don't know what the explanation behind this , but the market will kind of take those profits from you if you are still trading even if you already hit your goals. |
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Have you checked your attitude towards money lately? What is "your dream"? bigger home, a bigger car, private schools, branded drink, gold?...
As i'm getting older and after having my own family, my priority and focus are solely for my kids to have a better future. I'm saving and investing for them because I don't want them to go through the hardship that I had when I was younger. Hence, I always prioritize the needs before wants and I can say i'm good in managing our finances. Though I still make sure to reward myself from the things that can make me happy. As we are getting older, we are now more invested in the future and taking care of our family. Before, when I still didn't have family or a daughter, my goal was always to party and drink hard every day. not in my mind, saving money or buying appliances for my future family weren't priorities. But now, even though I haven't fully regretted it, if I had saved that money and also bought things like appliances, we would be doing better now. We really prioritize our family first, even if we need to sacrifice ourselves just to give them a better life. My goal right now is to have our own home and live peacefully. |
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Well, I have to clarify that personally I have never had any loan or debt in my life so this thread has nothing to do with my experience but intends to find out how people in loan/debt deal with the problem. Let's say you take loans from a bank and sometimes for whatever reason, you can not pay the debt on time, then you borrow money from other channels. Sure this works for a certain period but later bad things may happen, you have to postpone the payment and struggle with finances again. Isn't this a vicious circle ? How would you deal with the problem ? I am all ears.
This your explanation looks more critical to me and I don't really think I have evee been in this show before. I have onced borrowed money from friends even from companies and I make sure that I paid back before the due time. I don't like owing people because I see it has a bad omen for me to owe people. Even though I don't have the money to pay, I will always feel guilty of myself and try as much to make sure I paid back and soon as possible. Borrowing is not the best for us but we can do that to solve little problems we might have that need urgent attention. This is also what I feel, even though it is pretty normal for us to take out loans or borrow money as we need it in our family to purchase things and food. Mostly if you have a family, your salary is intended to cover food and basic needs, and you don't have spare money to buy things like appliances. That is why we need to borrow or take a loan (this mostly applies to people like us who just have enough salary). Though still, it is better to save, even if it is a small amount. |
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That is really one of the reasons. Mostly when I think of this, the first thing that comes to mind is the lottery, as there are a lot of people betting on the lottery here in our place, and mostly I would say that they are struggling with money, even if we are not asking them for sure, because they only bet a small amount and win a huge amount and can buy things with it. That is also the time when they can make a lot of money—even more than their regular salary. Though there are really people who want to do gambling for fun,
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It will help since knowledge is power. For sure, those entrepreneurs you know are that there are a couple of them who start their stack without having a degree and are able to boom their business, but later on, since they need more knowledge and strategy as entrepreneurs, they need to go to business school to learn more about how they can improve their business because there are soft walls when you hit targets in business and they want to break them, like they can't leave $10 million in revenue because their strategy is not working now.
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Living in my country is very expensive, a small family with three to four members will spend at least $300 per month. Where a person earns a maximum salary of 200 dollars, so if at least two people in a family are not adults and do not start earning, then that family lives very hard. Here chicken is about $3.5 a kg and beef is $7 a kg. and $0.6 kg of rice. And also the price of oil and gas is very high because of which all in all I need a lot of money to live in the country. Expenditure is more than income here
I'm shocked as the kilo of rice is half in us. Most of the prices here are $1; for chicken, $4.10; for beef, $7.65; and for pork, $5.83. Our minimum wage here is $200, which is $9 to $10 per day. We are in a third-world country, so we are not shocked. Without budgeting your salary, it is difficult, which is why others are doing some online selling to make some extra money. I do have family now, and I am having difficulty budgeting our salary. How much more do those underpaid people make? |
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In fact, a gambler cannot determine and ensure that he really can have a multiplier opportunity like that found in slot games.
However, with the strategy used by gamblers, it can at least increase the possibility of generating multiplication with quite a lot of multiples and we get it successfully.
But all of that is only the second factor because as you said that there is still the luck factor that is expected and in every game or bet you can really win because of the main factor, namely luck.
You can quit with decent winning when luck permits, though what you said is true, there's also strategy aside from luck, things that you already familiarize yourself from your past sessions, strategy that being developed coming from your experienced that adds up to how you base your bets. Both sports and casino base game there's strategy that each gambler used to find some edge when executing what they've thing that will bring the win that they are aiming. For me luck is the ultimate and I see it as a sole reason why many persons keep having consistent winning over the time. If we have a good strategy and we don't have a luck, we might be missing opportunities that would make us winning or something might keep making us not to bet on games we have predicted or we got from a good source. I can't count how many games I have missed that was given to me to bet on but I could not bet on them because I was somehow afraid to bet on those games, rather I amended the games and I became the loser because I could not bet on them with my clear eyes. For sure, there are other people who feel the same way, not confident if luck will permit them to win and instead of taking the risk, they pause for a while and decided not to place their bets. Only to find out that the game wins and if they place some bets, they might be enjoying the winning amount, but it's gambling and you don't have any control over the outcome. Take the risk and wait for the outcome. Win or lose, no one can decide aside from luck that will bring you the win. It is always 50/50 whether you win or lose, but as long as you are enjoying it, it doesn't matter what the result is, as we know that we gamble for fun unless we gamble for profit, in which case we should be expecting to win. Though if luck struck us and mostly we don't notice this unless we are on a winning streak, then for sure that is the time we are glad and accumulating winnings, but again it is a very rare occurrence so we should not be dependent on it. |
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Today, that apartment I missed is worth at least $1.2 million. Oh my... I hate myself for not buying that apartment every time I think about it.
Don't regret it. You had no money at that time and you felt bed begging your parents for it. I know a lot about it because my father is wealthy but he wants everyone to literally beg and thank him. He's a narcissist so one time when I wanted some money from him he asked me to ask him nicely like "my dear, most generous father, I would really appreciate if you gave me the money" and then I'd have to kiss his hand. I'm not joking here. I didn't do it and after some time he sent me the money anyway but it took like 2 years  The only thing I regret in life is not buying more bitcoin when I had the chance. Haha, I laughed out as I read your comment. Yeah, I know how that feels. My father is the exact type of person as your father. What I can not tolerate him is the superiority over everyone or everything. As we all grow older, he is a bit better now but I can still feel the personality issue there. As I have been financially independent for many many years, he is kind of disappointed that i don't need his money any more. Well, I think this is good for both of us. I just remember one of our relatives, my aunt, saying that every time she gives you something like money or clothes, you need to post it on social media and tag her to thank her, and if you are not doing it, she will curse you for not saying thank you to her even if you do it in front of her. She wants attention over social media, lol. Anyway, if we just knew the price would go up like this, even though we are poor, we would be saving to buy a lot of bitcoin, but again, we discovered bitcoin a few years ago. |
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That is not greed; it is just that he is a newbie and not knowledgeable on those things and is not aware that those are scams that got his wallet hacked. I don't know what message he got, but I think it was made to transfer the assets from his wallet. I don't know why he chose the wallet that has assets on it and allowed the transaction on it. It would be better in those situations that he has another wallet that has only a few cryptocurrencies, just to be safe. I hope that he learns something from it and doesn't ever click on those unwanted links just to be safe.
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Bitcoin is not pleasing right now? We've been through a lot in bitcoin in the previous years. It is worse than now, but looking back at when you started in bitcoin, even in a bear market, it is still good as the price when we started as it was very low, so it doesn't matter how much it drops. There are also more countries that accept or are in the process of accepting bitcoin than those that have banned it, indicating that adoption is very high. No matter what the price of bitcoin is, I still love it.
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Someone met me and we were had a conversation on trade and he told me that he has used all he has been saving for trading and asked me if he can make something out of it and I asked him if he had any knowledge about it and he said no.
My question is can someone that doesn't have any knowledge about trading and how the system work can he or she trade and be profitable in it? Since at some points it has some compliments bof luck.
After some time of discussion, he has been told that it's just for them to choose on the candles sticks if it's up the they want to choose or the one going up just with this idea can they trade with such an idea.
so I wan to know if it's right for the person to begin trading?
Of course everyone has chance , but the problem is how much is the chance? I mean if you are going to invest that amount would it be doubled or lose? because there is no assurance here even those knowledgeable sometimes experience defeat so what more those chance taker? invest when you are ready and never use trading as gambling area because they are different . If you are going to trade you should be aware that you will lose no matter how professional you are because that is the part of trading . You should accept it and learn from it because that is your teacher and will teach you valuable lesson . Also trading is very far from gambling as you are just basing with luck then if you want to trade and relying on luck then for sure in the long run youll be frustrated as you are losing a lot |
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I just explain to them only the tip like it is still fiat but its decentralize meaning no one is controlling it and still you can use it to buy and sell things as a payment method but it is like gold that it increase its value overtime and whats the best is it's digital you can bring it anywhere and any amount. Most of the people ive explained to this are just workers in government and my friends which they understand.
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Yep,I will love to add bitcoin to my retirement savings but just 10%. It is total wrong to believe in bitcoin for your retirement savings because you can be disappointed at old age due to the volatile nature of bitcoin, because nobody knows tomorrow.
I would prefer the old tradition way for retirement savings. If you are working in a good company and you are been paid,it is good that you split the money and invest it in other valuable assets, so that you don't lay all your eggs in one basket, because it can bring regrets to you at old age. Saving in bitcoin is a good initiative but don't put all your hope in it.
Exactly my point too. You cannot risk all your hard-earned savings into bitcoin and solely rely on it for your retirement. The volatility is so high that once your expectations are not met, you may end up dying with regrets. However, putting 10%-15% of your fiat into bitcoin is not bad at all. It could mean a very huge profits by then once bitcoin reaches its peak price. But if bitcoin value fails in the end, I would say it’s not a loss either since you only invest on the amount you can afford to lose. Just a portion of your retirement, not all of it, because the retirement should be spent for you to relax, but others used it to start businesses as they loved doing so, but having it all in Bitcoin is not that good because of the risk. We should always think about the risk side so that we are prepared for it. If ever I have a pension, when I retire, I will invest 30% of it and the rest will be spent to meet my needs. |
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When inflation occurs, businesses will also suffer heavy losses, so the possibility of a salary increase is very unlikely. To deal with inflation, with the cost of living rising, do not expect government or company policies to raise wages, instead, find your own way. Finding myself some other source of income, doing more than usual, that's what I'm doing to get through this tough time. I know the government needs to be accountable to the people, but I don't want to sit there waiting for them and do nothing.
I think it is "possible" that the salary will go up, but the purchasing power of it will not. Meaning, if you are making 1000 dollars, and can buy 1000 breads with it, tomorrow your salary could go up to 1100 dollars because of inflation, but then you can buy 950 breads with it because price of bread went up. Now in this case your salary "went up", but as you can see it actually dropped down in purchasing power. Rest of it I agree with, you should be looking for either an extra income, a good side job that could make you good enough money, or you could what I did, I used to make a lot less, then I found my current job and I am getting paid very well, I am basically rich in my nation. A few years ago, $50 is already enough to buy groceries and other basic needs but these days $100 in our country could only buy a few things. The sad part is, our necessities including our bills are continuously increasing but our salaries remain the same. Having a single job indeed will never be enough for us to provide our family with a comfortable living. If we want to sustain everything and have enough funds to save and invest, we must find other side jobs. Being contented and confident with our current job will not work in the long run anymore. As inflation increases, we must also double our energy to grind harder. That is the sad truth: foods and our other needs are getting more expensive, but our salary is not increasing either, which is why we need to have side jobs and sacrifice our free time for our family to work hard. I just remember that before we used to use the big cart to buy our needs, but now we are using the small one, and still it is very expensive, so you need to cut some needs just to reach your budget. I am hoping that sooner or later, prices will begin to fall or our wages will be raised, as it is very difficult how much more those who earn less than the minimum wage for sure they are struggling. |
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It is entirely up to us on us how control. Usually when we say gambling is bad, it's because it can make us lose all our money and leave us broke, but when we get into the root cause of this, it's because of our own decision that we can't control ourselves. Though people really have someone or something to blame on, like if there were no gambling, they couldn't lose their money, but thinking of it, it's their own fault. Though i don't treat gambling as bad or good i just treat it as a form of entertainment.
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It is wasting your time and effort. There are only a few, almost none, that you can earn in airdrops right now, unlike before, like, 5 years ago, when it was really good. We called it before "There's money in garbage" because we could earn money from it. There will be times when you get lucky and earn a lot of money, but it will be on a weekly basis. But now most of them are scams, so it would be better to focus your time on others than join those, unless you have plenty of time.
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You are very confident that you'll earn a profit even if there are risks. We know most of the halving that happened in bitcoin is pretty good as the price went ATH, but we are not sure if this halving is the same. We are not 100% sure that the price will reach another ATH. What if it's all time low? What I would suggest is that you just sell off one-half of it to be safe, or only what you can afford to lose. Try to think and learn about the risk of investing in bitcoin, as we do not know if you will lose your investment.
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This is the reason why you should not be telling anyone that you hold bitcoin or crypto, mostly if you post the value of your wallet, it is really scary now. Before, when I was just starting out in crypto, I always posted in social media about my earnings in bitcoin, showing its value, but because of the news that happens about this, I refrain from doing so. It is very scary right now, as for sure the criminals know that he holds that huge amount, and they have already planned it out. So we should be silent on everything that involves money as someone is watching us.
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Money and education which one of these is advisable to achieve?
They constantly say education is the key to success but in my country today many graduates don't have a job, and most of them are still fed by their parents, and that's not the way it's supposed to be.
Education without skill is useless. without result which can make the graduation can get the fast job is still make them idleness and don't know what they can do next. This is not also your problem country, but all country especially developing countries where the official is still finding how to get money fast by corruption and never think about how the citizen live without trouble food, and other. So I don't bet it all, if have a skill for choice, I will choose it. I just remembered that a lot of my batchmates before that got graduated without any knowledge of the course (IT) and without us they wouldn't have been able to graduate due to thesis (as it is a group) and now I can see them shifting careers and some sort of not using their skills unlike to us that we were able to have a job that was about our course, though I shifted right now. You have a degree but still don't have skills, which is really useless, but if you went for a government position, degree are very important even if you don't have any skills at all. |
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First of all, people should definitely be made aware of wastage and food management, and there should be more investment in agriculture and food production. Also, food shortages are often caused by the inability of products from food production areas to reach consumption areas, it is necessary to improve transportation infrastructure, improve logistics management and most importantly to tackle climate change because climate change is a major threat to agriculture and food production.
The main issue is that there aren't many people investing in agriculture, particularly among young people in my area, who I believe have a very negative mentality toward it. If everyone could start farming, even just a small amount in their backyards, it would help bring down the cost of food in the markets because there aren't many farmers right now and commercial farming requires a lot of money. and to me, farming is not a big deal at all no matter how small. It is due to the low price of buying their crops. This is mostly said by the farmers. When the crop is bought in by the supplier, they buy it cheap and sell it at a high price, and the government can't regulate it. Also, fertilizer is very expensive, which makes the farmer quit. The life of a farmer is very difficult, and most of them tell their children to go to school and find a job and not to continue farming. If this was just supported by the government, there would be a ton of farmers right now. |
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