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Merit is given when you make a quality post, if am to pick from your options OP, it's given by chance not making lengthy article, it doesn't count. If you're making lengthy article it most be a quality and reasonable post. That what count the knowledge you are sharing not writing shit or making off comments.
Why I choose chance is because most at times one can make a quality post but not merited because the reader wasn't at time having the feeling or need to, we can see that even if we make quality post it's subjective to the reader. We can sight example to the Wall Street Observer section, you see how post that isn't suppose to be merited are given. There is little or no lengthy post there but merits are just given based on chanced and how the reader see the need for.
This can't be overstretched in a simple word make quality post,worthy of sharing and remove your mind from getting merits on every post.
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I greet the house,
I want to share an experience I had today at my work place , so we called for an interview, during the interview an applicant curriculum vitae (CV) was checked and under the column of hobbies the applicant put Forex trading, my question to him was how is forex trading your hobby? He didn't really give a concrete answer to that , so on getting home I made a research on the following
1. A skill was defined as a Special ability or technique acquired by special training in either an intellectual or physical area
2. A hobby was also defined as an activity done regularly in one's leisure time for pleasure
So as a skill forex trading is technical and acquired through special training and then applied to the physical trading market, while as a hobby traders trade regularly mostly when the trader is less busy and also most traders trade for fun,
So considering these points I can say that forex trading is a skill and also an hobby, your opinions are much well welcomed.
Trading is a skill. From your definition it explains everything, it becomes hobby when you have develop and fallen in love with the habit of trading. But firstly one .can't consider trading to be hobby unless he has acquired the skill and dedicates most his time to trading whether during leisure time or not. Trading only becomes pleasurable when you enjoy the process and know how you react in the market nothing more or less. Because to another who is losing or finding it difficult it isn't pleasurable, experience is what builds the love we have for our Charts and the lines we see. Viewing from a neutral angle you are correct that Trading can be a hobby and also a Skill not just normal skill but a valuable one anyone can ever have. |
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We win by chance and not luck, every gambler wins because of the chance present in the game, its not being lucky. It doesn't matter whether you have won for a long time or not.
You won because your analysis and prediction work and you were ready to risk the amount you risk because you know two possible outcome win or lose, will you then say you were lucky for the winning?
In essence there is no game of luck, I know some gamblers believe luck happens, if luck exist what's the need for predictions, decision or analysis before we place our bets.
For me luck is just an illusion we are wired to believe. Gamble responsibly, discipline and moderation is needed and appropriate risk tolerance that's all. No need to overstretched it.
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A trader can have both a solid psychology and the right approach towards trading as well as the ability to perform technical analysis. Having a solid psychological foundation and a good trading mindset can be essential for successful trading, as it can help traders manage their emotions, avoid impulsive decisions, and stick to their trading plan. So, it is not a question of choosing between technical analysis and a solid psychological foundation, but rather recognizing the importance of both and integrating them into a holistic trading strategy.
Very often the psychological state of a trader is ignored or thought as not important by the sources traders use to learn, but this is incorrect, since it does not matter how skilled a trader may become, if when the time comes they are unable to make use of their skills to trade the markets effectively because they have lost the control they must have over their emotions, and in fact it could be argued that the majority of the losses a trader will suffer during their careers, come directly from losing control over their emotions. I do agree that the psychological aspects in trading is sometimes underrated as majority focus more on technical analysis development. But if we come to evaluate them properly, both are actually crucial in trading. You cannot be a successful and profitable trader if you lack the emotional aspects, even if you are extremely good with technical analysis. A lot of traders lose not because they don’t have the professional skills and technicalities in trading, but because they fail on giving emphasis on their psychological aspects which is very vital in trading, as well as with technical analysis. Sure both is needed to make not just a trader but a profitable one. In essence both need to be developed to safeguard and reduce the risk of the trader. Trading is a game of probability, of which nothing is certain so is essential we have set rules and system that will help reduce of which one of the essential way is conquering ourselves, because the one who conquers himself is a mighty warrior. Cheers to many who are ready and on the part to profitability. Build your Fundamentals, Technicals and have emotional balance all work hand in hand. |
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You gave him an advice to invest in Bitcoin, rather than providing a possible investment options which gives room for him to choose and make his decision. When it comes to investment everyone should be entitled to there own opinion, don't think how your friend, relative or anyone should invest. Your own role should be giving an idea which you think can work not how they go about risking there money into the investment.
He doesn't necessarily need to invest in Bitcoin, there are several options, investing in Bitcoin requires patience and a long term view, of which you ain't sure about how long he could hold and stay unfazed in such volatile market.
In a Nutshell let him decide for himself and the best opinion you could offer would have been him re-investing those money back into the company which will be of great benefit since he would soon take over, thus expanding the business and taking the passive or reserve gotten overtime, then he can diversify.
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Nepotism kill meritocracy,
It kills and discourages healthy competition,
It brings disrepute to any system.
Politicians have found a loophole to discourage Nigerians especially when it comes to job seeking, most Nigerians find it difficult to apply for federal jobs because it is believed that it is reserved for person with upper hand, and in most cases that's what happens.
The truth is that, there is nepotism in every part of world, but just that, the one practice in Nigeria has a higher voltage. Which is why most of time you don't have competent people manning strategic positions in the country because they got it outside of merit.
Not necessarily Politicians also private sector are involved ranging from hotels to those jobs you consider Upper-class. It's degenerating the value of school system, as majority now has the mindset that their job seeking now involves -who know who-. The truth remains that everyone is looking for who is loyal of which they can gain from and can represent them after they leave such position (planting someone who will he giving returns). The sole reason we have mediocre managing various sector which have lead to low productivity. Also Tribalism is one major problem in Nigeria which is eating deeper than we expect. I doubt you to say Nigeria rate is more or higher, we can really determine because we can use same situation in Nigeria and compare with others. America currently is suffering because of this as rate of unemployment keep increasing, whites lacking job, racism influencing the game. So we only emphasise and not exaggerate it. |
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When it comes to gambling, the mixture of money, drugs, and alcohol is undoubtedly dangerous. It can impair our judgment, resulting in bad decisions and even dangerous situations. Even if people don't have millions of dollars to lose, they can still make rash decisions and lose more money than they can afford. It's like an endless loop: the more we lose, the more we feel compelled to recover our losses, which can lead to even more rash decisions.
Which is what we should keep from this story as a lesson: anyone who's combining anything that was mentioned earlier during gambling is bound to eventually lose all their money. As I already mentioned, the most important part of this story that concerns us isn't that he actually lost $3 million, but what habits and behaviors to avoid during gambling. You don't need an abundance of money to lose everything, and I'm guessing that the majority of us here cannot afford to be as reckless as Dana. This must be a big lesson not just for him but for everyone here who are fond of drinking while gambling. Just like Dana said, drinks are offered for free but it does not mean that you need to drink while you are gambling. So it’s actually having your own discipline so you won’t get drunk and will stay focus on your stake. However, I believe not everyone is good enough not to drink but the fact that alcohol will create a dizziness effect and will get you off from your consciousness, then it’s a must to avoid drinking while your are gambling. Otherwise, you will end up making worst things out of your consciousness and eventually regret in the end. Let put it this way mate, you don't drink alcoholics that have high chance of getting someone drunk, because when we use the word Drinking it can be water, fruit juice, wine ,whiskey, etc. So the best opinion as you have given is not getting drunk while gambling. It normal as the big guys are fond of drinking while they gamble but you the low guys only get drunk when they lose. In essence the message Dana was passing out but seems most persons didn't really get, is for gamblers to build discipline so as to avoid Ill situations from gambling. Imagine it was someone else (poor, middle class) that was in such situation it would have resulted to suicide, depression, emotional disturbance. So by all means Moderation and Discipline is needed as a gambler. Because it takes only a system to conquer another system, so as to make you the master of the game and not been played by the game. |
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Gambling an activity for fun also has the chance to turn someone's fortune. Calculated risk when taken in gambling can be the way to big wins from gambling. Who do you think should take more risk in gambling? The rich gambler or the gambler who is not yet rich. If a rich gambler takes risks in gambling, they are risking losing money and becoming poor from gambling, or getting richer, when a gambler who is not yet rich gambles, they can also get poorer or richer, so the gambler who should take the risk should be the gambler who can handle the dangers of the risk like losing too. When a rich gambler loses from taking a risk, there is a better chance of them being in a position to manage with the losses, than someone struggling financially who a big loss will really affect. So, I am confused after asking myself this question and answering it, does this mean a poor gambler should continue to play it safe in gambling? With no risk, how can a poor gambler change their fortune in gambling?
First, let me start by saying that gambling is not, and should never be considered as a source of income, the poor man should get a job and work hard to become rich, rather than hope on winning and becoming rich through gambling, while the rich man who already have a job he or she managing should not relent, but continue to work harder and smarter for him or her to become even more rich, rather than hope or depend on gambling to do that for him or her. Overall, all should respect the rules of gambling and enjoy having the fun, rather than gambling with a mindset of making money. With the above been said, and in a more mutual context, I would say that neither the rich nor the poor has to risk more or less when it comes to gambling, taking risks is an individual thing, it has nothing to do with people financial class or level so to say. I have seen rich men and women who are so fearful of losing their money to the extent they won't been spend money on good cloths to wear, or good food to eat, while on the other hand, I have also seen poor people who are very confident in themselves and could take any risk regardless of how much involved as long as it's within an amount they can afford, this is possibly why we see some poor people who borrowed money, sold their property to invest in bitcoin, while some the rich are very skeptical about putting a dime in bitcoin. Overall, appetite for taking risk lives in different people and it's on different levels, regardless of their financial levels. One thing many people have failed to understand is that gambling is better when it is considered as engagement of fun and not for the sake of making a living out of it and that's why a lot of people today have continued to risk almost everything they have in gambling in their quest to earn a good living through gambling or better still change their financial status quo using their wins in gambling. The rich man knows that it's absolutely good to take risks but that's definitely not on gambling because he knows that the probability of getting a return from such risks are very slim so would rather not take big risks in it. But the poor man is always ready to stake every damn thing in his possession with the aim of winning hugely at the end which in most times doesn't end like they've thought. When it comes to gambling, I don't think it's a wise decision to take huge risks no matter the financial class of an individual Yo everyone believes the poor guy will risk everything because he is desperate and looking for all possible means to make huge winning so as to become Rich. This assumption is correct in one way and wrong the other way, you can't point out the fact that someone is poor and at same will lack sense of reasoning while the other because he is rich will know the risk involved In gambling. As you have rightly said no on should risk huge regardless of the status. I doubt one should consider gambling as fun. How is it fun? I think we do lie to ourselves when we believe this. No one can live a successful life while gambling or finance his lifestyle through gambling. We all gamble because we want to gain regardless of how you put it. So is up to your personal decision on how you risk, build your system the way it suites you. Whether we consider it fun or not, we will still risk based on our risk taste (tolerance) nothing changes. |
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Gambling an activity for fun also has the chance to turn someone's fortune. Calculated risk when taken in gambling can be the way to big wins from gambling. Who do you think should take more risk in gambling? The rich gambler or the gambler who is not yet rich. If a rich gambler takes risks in gambling, they are risking losing money and becoming poor from gambling, or getting richer, when a gambler who is not yet rich gambles, they can also get poorer or richer, so the gambler who should take the risk should be the gambler who can handle the dangers of the risk like losing too. When a rich gambler loses from taking a risk, there is a better chance of them being in a position to manage with the losses, than someone struggling financially who a big loss will really affect. So, I am confused after asking myself this question and answering it, does this mean a poor gambler should continue to play it safe in gambling? With no risk, how can a poor gambler change their fortune in gambling?
It is interesting to know that to stay safe one must consider the risk involved before thinking of the gain, those who have a system of risk management are appreciated in gambling. So it doesn't matter the social status in gambling, the rich or poor are open to there own decision and gamble the way they choose. It is true that there is no difference between the rich and the poor in gambling. If a gambler can afford to take the risk of gambling then he is worthy to take more risk if need. A gambler should have a good sense of risk taking. There are many gamblers who are not in good financial condition and if they take risks then they are likely to face disaster if they lose. Moreover, after observing what kind of target the gambler wants to set and how much they can control themselves emotionally, if they take the risk of gambling, they can definitely do well there. So it can be said that those who have the ability to take risks are suitable for gambling. The only difference here is that on their financial status or condition on which the other one does have tons of money and the other side does have less or on poor condition but doesnt mean that they would really be having that different odds on winning up on gambling on which it is really not right or typically wrong. It is really just that there are people whom do believe that being rich is something that has more chance or odds on winning up on gambling without even trying to make themselves that realizing thats not how gambling works. Odds is always on against us and winning is something that would really be that totally be random even if we do speak about dealing with luck based games or strategic ones. Winning will really be that totally random or does always matter on how lucky you are on that moment. Risking more? Rich people would be risking more but the chance on gaining profits is big too in compared to those poor ones which is common sense but same goes with loses that those poor ones would be losing up less but well this is something that they could only afford. Alright Mate. Generally we view that the rich is risking much as to the poor, which for me isn't right as we judge based on the amount and not the capacity of the individual. If the Rich risks $10k on a bet, is because he has the capability while if the poor risk $500 is still same system no one is risking much in a rare sense even if $10k is more than $500. The truth remains the outcome of gambling (gain) depends on your stake amount (amount placed on the bet) meaning the rich guy will gain more compared to the poor guy if both wins same game because of the difference in there stake amount. In essence the status only functions on how much each party risks, not really rich or poor as we can't really determine how much anyone would risk. The poor can risk more than the rich, let say the poor guy wins a jackpot of $50k and he decides to gamble with $20k out of the money, the person we consider rich might risk $15k on same bet, but originally the poor guy won't have risk such amount but based on the earlier winning such chance is made. So we understand that all we have said is subjective and based on the risk tolerance of any individual excluding social status. |
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~ In your case, how do you approach when you are on losing streak so badly on specific game. Does changing game works for you?
Yes, changing game works for me, definitely. It doesn't mean I necessarily start winning on another game, but at least I become less frustrated. When you lose on the same game all the time it's annoying, isn't it? And I gamble to fun first of all, it's no point in gambling if you are getting frustrated in the process. If you are losing badly on a specific game, my advice - change it immediately. Yep, everyone has different approach which they use to relax from a losing streak. What works for you might not work for others. Being on a losing streak is certain and a normal situation in gambling. Once am losing so much on a particular game, I take a break. This time refreshes me and also creates a medium I ask what and why? happened that lead to such results even if its normal in gambling. Changing the game for me isn't enough, the frustration, actions taken earlier can stil affect you in the new game as sometime you will tend to revenge or recover from those loses. The simple advice if am to use such word, remains you take a break and you see yourself coming back refreshed and prepared. |
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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?
No it not the right time for such person, he should be more patient to learn from scratch to advance before he ever think of risking his money. Lol, it's funny how most persons think they can make money off the market without having a solid knowledge. As far I know Knowledge comes before one can earn when it comes to trading or any skill at all. What you have to do is to guide him till you are satisfied that he has assimilated everything been taught. And he should also know that trading is about being patient and discipline, and not a quick money making scheme. He can also apply for Mentorship programme, were he will be guided, and be with the right community to sharpen his knowledge. |
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LOL, absolutely nobody[/b] can "ensure the longevity of my wealth over decades" and if anybody tells you any different they are trying to steal something from you. Bitcoin could crash in value tomorrow (it's done this before), just like any other asset. Nobody can totally ensure anything in life, I know. But there are certain things that are more resilient to change than others, and people put their wealth on assets that have the best chance to remain intact over the long term. You wouldn't invest in the USD by saving in a bank account. Why? Because it changes. It is printed like a toiler paper and its value is tied to whatever government is elected in the US. Then, you need to take into account the credibility and integrity of the bank you're entrusting your wealth for decades. Gold, on the other hand, is much better to keep your savings to, because it is a property. Unlike a fiat currency, gold isn't subject to that arbitrary manipulation. I'd bet that preserving wealth through gold holdings over the next three decades would outperform doing so in USD. Bitcoin could crash, yes, but it has proven itself as a savvy investment over the long run, same as with gold. People prioritize property over security because property possesses a self-sustaining nature with minimal human intervention. You can't really argue that your platform is more or less the same with that. Bitcoin can't crash in value but in a bear market situation. I don't seem to understand why some are still doubting the possibility of investing in Bitcoin. Just like Gold, Diamond all thus asset has already stayed through good and bad times not to talk of bitcoin that has already proven to be a trusted asset to invest in. All asset experience downtime if am to use such word, that doesn't imply they loss the value in the market. In as much there is supply and Demand influencing bitcoin price it value will keep increasing. Sure thing is nothing is predictable, and everyone chooses to invest based on there knowledge about such asset of which they are ready to risk there resources for. In essence do what suites you. |
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Risk is when a person is exposing him/her self to dangers, possibility of incurring loss or misfortune
So many people run away from business opportunities just because they fear they will run into loose and didn't want to take such risk
I have come to the realization that the word risk is part of life and that it is better you take part in it than not
From history it has been said that the great entrepreneur and business men/woman where all risk takers when you take risk you throw your self to the real of possibilities
Nothing tangible in this life comes without risk. For survival, to be who you want to be, to sponsor the lifestyle you want you gotta take risk, you have to believe, you have to take part in regardless of the outcome as far as it worth it. You don't know what might become of it till you have tried, even if you fail give it more trial give it all you got. The people who are enjoying and living a satisfied life once took risk for that investment, business, companies they have now, they evolve more than the spirit of fear, a saying goes" The brave act in spite of there fear", they conquered there fears. And they achieved it, so if you ain't ready for that invariably means you are ready to remain stucked, and live a life of regret and Mediocrity. Billionaires lose millions to become Billionaires. Millionaire lose thousands to become Millionaire People who live on thousands lose hundreds. While the poor are not ready to lose anything and rather choose to remain stuck, what differentiate is Action. |
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it could be it's better to have investment than savings.
I think regarding this you should rather speak for yourself because not everyone is willing to take the risk to invest and not everyone have the mindset to withstand the risk. Also we are humans and everyone will definitely have different preferences so some will tell you they prefer to go for savings than investments. I myself prefer investment to savings because i like taking risks and having fun and i kinda see savings like a boring thing. Yep, indeed investment is far better than saving. But the point to be noted is that you should be aware of how much risk there is in it, That is, if you want to invest in Bitcoin, you should be fully aware that if you do not have risk management skills, then Your investment in Bitcoin is nothing but lose. Because Bitcoin has a highly unstable value, it can make your investment zero or even heroic. So if your stance is on investment instead of saving, then you must first understand this golden quote "Invest those moneys that you can afford to lose" in which all factor analysis will automatically be discussed, that is, you should know all these things. It will happen, which can change the investment from a loss to a profit. So it means that investing (Bitcoin) is a good thing, but you should first be aware of its cons, Like investing in Bitcoin, you should first have full knowledge of all the skills that an investor should know. It is necessary before investment. So then investment can be better for you than saving. Apart from this, investment can be in other things as well. It is everyone's own choice, some prefer less volatility and some like high volatility assets. Everyone has their own view on investment, but personally, i would go for bitcoin because i know all the things that can reduce the risk for me. DYOR! Yep well said, you invest based on the knowledge you have about your area of Interest that you want to invest in, as t will be unwise to risk your money without having any edge about that investment plan. Before we think of investing one need to have a plan, investing within his means acknowledging the fact that there is an uncertainty. Though some person prioritize saving in respect to investment, which I find very funny, am not saying you shouldn't save but saving won't yield any result as your money is lying without being productive. Investment makes your money work for you, saves the rainy day. While some persons are struggling, poor and broke is because there is no alternative means outside there savings or job thus acting as a limiting factor. In essence invest, we can't build wealth through savings or finance the lifestyle we want. All the successful people we see and admire are living based on the investment they have. This is the link to a similar topic, you can find it helpful. https://bitcointalk.org/index.php?topic=5487343.msg63749408#msg63749408 |
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People actually don't know how important it is to wait for the right set-up, some traders think that the more you trade the more money you make which is very much unlikely, trading doesn't work like that, you might make a lot of money from 5 to 7 trades, and use just only one trade to lose everything including your initial magin.
But waiting for the right set-up gives you an edge in the market, when you trade only when you sees an opportunity, you will mostly comes out profitable, as long as you knows the craft a little, but probing the market every now and then will only make you lose money, because trading is more of patience and knowledge.
You are actually right bro, waiting for an opportunity before entering into the market is One of the safest way to navigate your way in the market, because trading is just like hunting for a prey, you need a strategy if you must be successful, and patience is one key that a trade needs to be successful, because you are more likely to win a trade when you are certain of a particular set up, than entering when not that sure, am saying so because as a trader that I am, I have tested this strategy, and it's has work for me severally, the only challenge is patience, because the market is very enticing, you will feel like that moment you are not trading, you would have made a lot of money if you had entered the market, and it's actually the psychological aspect of trading in full display, so if you are discipline enough and you decide to wait, bro, you will be very glad at the end that you waited, because it will be worth. Discipline, patience are needed as traders in building our system and edge to make us profitable and successful as traders. Most traders tend to lose not because of ignorance of what the market is saying but impatience to wait for the right set-up and moment to enter. Waiting for the right set-up isn't complete without taking the set-up which you were patient about. So in as much we develop qualities in the market we should also milk it. |
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Gambling an activity for fun also has the chance to turn someone's fortune. Calculated risk when taken in gambling can be the way to big wins from gambling. Who do you think should take more risk in gambling? The rich gambler or the gambler who is not yet rich. If a rich gambler takes risks in gambling, they are risking losing money and becoming poor from gambling, or getting richer, when a gambler who is not yet rich gambles, they can also get poorer or richer, so the gambler who should take the risk should be the gambler who can handle the dangers of the risk like losing too. When a rich gambler loses from taking a risk, there is a better chance of them being in a position to manage with the losses, than someone struggling financially who a big loss will really affect. So, I am confused after asking myself this question and answering it, does this mean a poor gambler should continue to play it safe in gambling? With no risk, how can a poor gambler change their fortune in gambling?
OP am also confuse, because I don't understand how someone will gamble be it rich or poor and not play safe. Whether one is rich or poor it geared towards the level of there risk tolerance in which both risk based on what they can afford to lose comfortably. It is interesting to know that to stay safe one must consider the risk involved before thinking of the gain, those who have a system of risk management are appreciated in gambling. So it doesn't matter the social status in gambling, the rich or poor are open to there own decision and gamble the way they choose. And as such OP, there are two outcome in gambling; Win or Lose. It is based on how you win, and keep winning more than you lose that determines everything. Nothing really whether you are rich or poor. |
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Hi guys and ladies, Sorry I can't share the Facebook post this thread stems from, as I lost the post, hours ago before deciding to bring it up as a discussion on this forum. Like 6 to 7 hours ago, I was over there on Facebook scrolling my life-time away  , I came to this post where the user was advising readers on how bad gambling is, being a gambler myself, I decided to open the post in fall to read and know what the dude is all about, and from all the story, it seems the dude went all in on a gambling sprey which didn't turn out the way he had anticipated, according to him, he had lost all his life savings (over $60,000) to gambling and it all started with a bet of $10. And right now, the dude is all out to castigate and discourage as many that are willing to give him a listening ear; from gambling, all for what? Because gambling didn't turn out well for him, he lost his entire life savings, and he now believed that that is exactly how every other persons out there gambling will lose too. What do you make of this, I honestly do not know but deep inside of me, I feel it's absolutely wrong to advice people against doing something, just because you did the same thing and it did not favor you.. Do you guys think it's OK to advice other gamblers to quit gambling simply because of your own bad experience, does your bad experience mean that every other gambler out there will also have the same bad experience? I will like some really useful discussions around this topic. He isn't castigating, for me he has done nothing wrong he is simply sharing his experience, same time safeguarding others to know the risk involved In gambling. And also making them know that's such possibility is possible. There is no such word like Advice in gambling, or financial market. His experience can't be same as yours or anyone but the truth stands that there is possibility of losing and if not curtail can lead to a situation as his. And I haven't seen anyone that can share there positive experience without any bad experience. OP, I haven't also seen anyone through gambling add value to there life,gambling if not limited can lead to such experience and the earlier we have many more person who shard this same story will help. But the truth is everyone is entitled to there decision and those that will listen will listen, not everyone will pay attention and not every gambler will quit too. |
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Accepting a gambling issue is tough. It's like facing your worst fear knowing only you can hurt yourself. Unfortunately, the house always wins when people chase that high. Despite it, they wager everything in hopes that this time will be different.
The key is moderation, which you mentioned. Gambling may be fun; a little money, a little risk, exhilaration. Finding that stimulating, non-destructive balance is key.
What's wrong with gambling is how it dominates. If losing is inconceivable and a person can't walk away, addiction begins. However, self-awareness and discipline help you fight back. You should enjoy the game without being consumed by it. Maintain control and limits. You play the game without being played.
Well said. Discipline solves the problem. As you have rightly said, the main defense should be, not allowing yourself to be dominated by gambling. When dominance kicks in you become a slave to it leading to addiction, over-gambling, and also risking much without any set rules or control. So the earlier we build our system to fight against all this, then only can we play the game and not be played, thus helping us take into consideration other areas of our life. Without our system surely we will be consume by the system. |
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The crypto currencies today are now the source of wealth to somany young people. It Is very pleasing this days to see young people making money at their young age, we can see that their is alot of changes in the society since young people start making money for themselves online.
But the question to be answered here is, Do everyone who earns from this crypto use their finance purposefully.
Not everyone at their young age have the mindset to plan for their future many young people have the mindset that their is still much time for them to do whatever they wish but that is not a wise idea you need to invest for your future.
Someone gave me a parable saying, Don't live in comfort in your youthful age and suffer when you are old rather invest and suffer in your youthful age to prepare for your old age. Young people should not only go after enjoyment and lavishing but also invest 80% of your outcome and you won't regret it.
As you have said OP, regarding the importance of investing as it should be a culture embedded in the youths. One thing is being wealthy and the other Is maintaining and keep growing the wealth overtime. As I would always say anyone can become Rich, yes,in this crypto currency space we see youngsters are millionaire but the problem becomes can this wealth be maintained? Of course yes, and one of the process is investing in Bitcoin, stocks, physical business based on your choice. Same apply to whether or not anyone would choose to enjoy there money believing it will keep coming and careless about investing or risking any money. Actions are subjective to the performers, as we can't really tell or would direct anyone to go about there investment decisions or how to use there money, so OP you saying 80% there outcome is inappropriate, the amount to be invested must get within the limit and range (risk tolerance) of the investor, also noting that the income (outcome) is considered more or less would have great impact on the person finances in relating to other areas of life, and for me investing 80% from every outcome is impulsive and should investment might likely have short-term horizon because of over leveraging. The need for taking the right decisions can't be over emphasised, as we all need to invest into our future. |
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Im this life you come and you go. So do what makes you happy that is all that matters. If overworking makes your comfortable and feel like you have been productive then dont stop it. Normally there is nothing that dont have a disadvantage and advantage. Just kike any other thing overworking have some advantages in ones life. Because you are putting extra time to what you are doing and this can yield maximum result for any business, work or creation. It has repercussion as well which is the disadvantages but if you are willing to accept it and you fell happy then continue.
We're here for the money but going extra length to work without appropriate guard is out of control. Accepts our fate and quit any side hustle that makes us overworked ourselves in the system. If there's something you should stop is overworking yourself because our health comes first despite the huge earnings we're able to secure, of what use are these huge figures accumulated without us having a sound health? So we should always take good care of our health and visits the hospital once or twice a month for all round body checkup. After reading some previous thread I found out we can simplify the topic into work smart method rather than working hard without any tangible result. Even if you're working smart you will have to put in more effort when necessary to achieve your aim and goal. This very word seem to make some persons lazy, feel comfortable and also underperform. We shouldn't in any way give room for Mediocrity because you don't want to overwork yourself, if we can't live the lifestyle we want then no need to stay stuck with this bullshit. In essence let your health be a priority, work till you achieve your goal don't relent and keep feeding yourself with unnecessary motivation that won't yield any result. As far as, you know that your efforts will surely yield result overtime and it doesn't in anyway affect your health work your ass off. The successful people we see with result, went extra mile to make there dreams into reality, they overwork themselves at certain level. A timber man works tirelessly (overwork) , with little or no result to prove, likewise a Manager of a company that spend extra time working, creating and analysing means for the growth of the company, it same overwork but the difference is the channel to which those energy, strength and ideas go. So you choose carefully for yourself or remain stucked. |
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