If I were to suddenly receive a windfall like that, my approach would depend on my financial goals, risk tolerance, and current circumstances. I might allocate a portion to savings or investments for long-term growth, diversifying across assets like Bitcoin or stocks. Additionally, I'd consider using some funds for experiences or enjoyment, such as travel or personal development. It's important to balance prudence with seizing opportunities and enjoying life, so I would likely create a well-thought-out plan to make the most of the unexpected wealth.
Now, this is a good idea. Start out by developing a plan that has potentially investment components and also consumption components and then figure out how much is going to go towards each broad category and then thereafter narrow it down to more narrow ideas within each of the categories.. .. that sounds good.. ... part investment and part consumption, and how you divide up the investment versus consumption would depend in part upon how far you already are in your investment journey.. I buy this idea, firstly having a set plans and following through, using scale of preference, of which you start from the most prioritize one which for me is building a solid bitcoin portfolio first because I haven't accumulated much neither have I tried enough in respect to my bitcoin investment after that I can diversify after calculating certain percentage that would be allocated from my finances monthly into Real Estate, buying of shares, and also owning a physical business. Over the years I found out that the wealthy keep growing, and maintaining there wealth which is as a result of prioritizing growth, personal development over self-pleasure. The reason some are still stuck is because they are blind to recognize opportunities and make good use of it, they feel the right time is not now or they will need to have $1m before they think of something which I reality is far from the truth. Life is funny because it won't present opportunities the way you want it, everyone wants to live a happy lif but just few understand the system, I would invest the $50K, its worth it, because I know this $50k can worth $150k or more overtime than eating snacks, pizzas, going on vacation that I would spend instead of gaining especially in this my growth stage. Common on that's will be a mess. Am not saying doing all this is bad, but with proper planning you will know how to go about it,don't give room for Mediocrity. In as much as everyone is entitled to there opinion, decisions likewise everyone will enjoy the dividend of there action. Surely you seem to be justifying the deferred gratification idea, which also seems to imply a kind of situation in which you already have a system in place in which you are sufficiently gratified, so when you receive an additional $50k by surprise, you are able to pretty much dedicate all of it towards investing rather than consumption, since presumptively you are suggesting that you already have your consumption systems in place... Even having had said all of that, I cannot really blame guys who want to dedicate a certain percent of the new value to consumption, but yeah, since the value is a surprise amount, it is difficult to consider that it would be necessary to dedicate very high amounts of that new surprise value to consumption rather than to investing... and perhaps one of the ONLY exceptions would be if your investment situation is already in a very strong place, so then when the $50k comes in, you do not feel any need to add it to your investment, since you already have a very strong investment situation.. ..so then in that kind of a situation, you end up allocating more of that $50k towards the consumption side rather than towards the investment side.. So for example, if a guy had established an entry-level fuck you status of $2 million, ** yet he finds himself with around $10 million in value of his various investments (whether bitcoin or otherwise), so since he is around 5x higher than his goal, then he might already feel that he is overly invested, and so in that kind of a circumstance, he might end up putting most if all into the consumption side of the equation rather than in the investment side. ** Note:These numbers should largely work the same if we were to consider $200k versus $1 million (1/10th the above-described amount).. in terms of whatever a guy might consider his own idea of entry-level fuck you status... yet of course, $50k ends up being a way higher relative amount in terms of a guy who considers entry-level fuck you status as $200k versus the guy who considers entry-level fuck you status as $2 million, yet similar principles would still apply in regards to a guy who finds himself some proportion of multiples above his entry-level fuck you status tending to give lower priority towards needing to invest with any new amount as opposed to being o.k. with any decision to allocate that amount towards consumptionTrue, those who have already had strong investment and a working system that feel they have invested enough won't hesitate to spend the money on consumption, sighting the examples you gave that's example of people who have already accomplished major part of the task. And we won't expect that other guys who haven't built to that stage would also want to spend as them and the neglect the need for investment. Before someone would have return of 3x,4x and so on already plan, had discipline to execute those set target of which he is enjoying the dividend, if the reverse was the case he won't have achieved that or if he prioritize consumption, we can't really determine his capital but surely it was a gradual process over years with dedication. In essence let us not prioritize unnecessary spendings over our investment whether the money was gotten free, you can still invest bit, in building your portfolio. |
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Even we do say about not about gambling on which it would be always better that you should really be that basing into your own decisions and goals in life and never intend to reflect yourself on others success because it would really be just that derailing you into your own plans that you have set earlier. Dont believe into sayings but well it would really be just that depending on you since we do have our own mindset and will in regarding about possible decisions that you could make along the way. It would really be that something that needs up for you to have that kind of decision making on which you do see which one would really be beneficial for you. As for gambling, then it is really just that for the sake of fun and not something for you to make it as a source of income. You are just basically making yourself that putting into such risks whether getting addicted or would messed up finances. You're spot-on about autonomy. Owning your choices, not just cloning someone else's blueprint; that's where real growth happens. But this whole judge for yourself idea is a warzone. Everyone's got their two cents on how to live, but you're the one steering this ship Now, gambling can be harmless fun... at first. But the line between a good time and a black hole is thinner than you think. It's not just about losing money, it's about losing control. This stuff can wreck relationships, tank your mental state... you get the picture. That's the real gamble; letting the game dictate your life. Remember, casinos aren't built on winners, and if you're not in command, you're playing a losing hand Well said mate. Gamblers that be in control of there gambling state tend to perform more than others. I don't see or consider such proverb to be a trigger that would lead one to gamble, Proverbs are sayings with deeper meaning than actual word used. For me one can be lucky at anything and gambling isn't a test place to check if you're lucky or not. You win by chance and not any thought or illusion of luck. This is worthless for those that don't gamble, but to a gambler is a pill to keep him motivated in the quest to see how lucky he is. In essence only a gambler will get triggered by this quotes and this is far more different from promotions. For simplicity Promotions is targeted at having more customer base promising them with unrealistic bonuses and incentives whereas Proverb is mainly used to balance up by gamblers and having deeper meanings that illustrate and directs. Proverbs or sayings would really be just that able to trigger you out on playing even more because you are projecting yourself that you could really be able to do it if you are trying to chase up something or trying it out whether it would really be working or not. Just like on what most people been saying on here that there's no such thing that could really be able to influence on how you do bet or on how you do gamble generally because you are trying out to follow a certain idea on which this is something that would really be that bringing out those kind of behavior on which it would really be causing up that huge disaster towards your gambling activity. Never ever make yourself that following into those words or sayings because luck factor isnt something that could be influenced or something that could really be altered out. It comes naturally and results or outcomes are the indications whether you are lucky or not on a particular day or moment. Mate you need to clear me are you saying that Proverbs can trigger you to gamble? If idea is subjective to a person how then can proverb influence someone to risk or try to practice a particular quality through gambling? If you are judging from a stance that outcomes are indicators of how lucky we are on a particular day or moment what then is the importance of decision before placing your bets, and not placing randomly? What triggers you to gamble? Is gambling a place were we try out life qualities with money?, so some just gamble to learn it, when did gambling sites turn to Human development centres? We need to understand the fact that in as much as we gamble we own and control our system (skill, believe, risk, money, idea) which is subjective to us, those that then to lose lack this power of ownership. I know this has been a great debate between different school of thought but the fact remains if the outcome of our bets are unknown, but still we decide how we want to go about based on the chance of winnings in the casino, game or sites then I win based on that chance present. I know we might be lucky, considering it in this context is avoiding a devastating experience but the experience you already know about, operating based on your leverage how then can you still escape it while in the system. |
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there is also some gambling that requires skill, but I think that also cannot ensure that we can win easily, it only increases the chance of winning but doesn't change the luck portion. I don't think we can win even though we have good skills if luck is not on our side, if we are lucky then we can win by random means.
If you don't want luck to disrupt your gambling experience, get into sports betting. The outcome of a sports event isn't always dependent on luck because it's not like a gambling game where you press a button and then wait for the RNG to generate the result for you to see if you were lucky or not. In sports betting, you place your bets based on your knowledge about the teams and players involved in a game and you know their capabilities and abilities and how much skilled or unskilled they are, so your bet wouldn't be based on luck in sports betting. I know that luck can affect games sometime, you will see a team losing that you expected to win and statistically, it was ahead of the opponent. However, this doesn't happen all the time. Gambling is both combination of luck and your skills, but decisively we win by chance. Your bets are placed based on your already gotten knowledge as you have already said, of which you stake on those predictions within your risk tolerance level and accept any outcome of your bets. My take on this OP, is gambling isn't fun as well as either you lose or win. We all just take part in a probability game that is uncertain, we accepting this fact shades us from Ill feelings of which we keep betting nothing more or less. Of course judging from normal Human perspective it won't be fun if don't all lie to ourselves, we all know and accept lose as part of game so it becomes fun when we lose then if am to put it this way. In essence gamble responsibly with your set rules so as not to reach a stage you become emotionally unhealthy and then the fun dies off the game. |
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If I were to suddenly receive a windfall like that, my approach would depend on my financial goals, risk tolerance, and current circumstances. I might allocate a portion to savings or investments for long-term growth, diversifying across assets like Bitcoin or stocks. Additionally, I'd consider using some funds for experiences or enjoyment, such as travel or personal development. It's important to balance prudence with seizing opportunities and enjoying life, so I would likely create a well-thought-out plan to make the most of the unexpected wealth.
Now, this is a good idea. Start out by developing a plan that has potentially investment components and also consumption components and then figure out how much is going to go towards each broad category and then thereafter narrow it down to more narrow ideas within each of the categories.. .. that sounds good.. ... part investment and part consumption, and how you divide up the investment versus consumption would depend in part upon how far you already are in your investment journey.. I buy this idea, firstly having a set plans and following through, using scale of preference, of which you start from the most prioritize one which for me is building a solid bitcoin portfolio first because I haven't accumulated much neither have I tried enough in respect to my bitcoin investment after that I can diversify after calculating certain percentage that would be allocated from my finances monthly into Real Estate, buying of shares, and also owning a physical business. Over the years I found out that the wealthy keep growing, and maintaining there wealth which is as a result of prioritizing growth, personal development over self-pleasure. The reason some are still stuck is because they are blind to recognize opportunities and make good use of it, they feel the right time is not now or they will need to have $1m before they think of something which I reality is far from the truth. Life is funny because it won't present opportunities the way you want it, everyone wants to live a happy lif but just few understand the system, I would invest the $50K, its worth it, because I know this $50k can worth $150k or more overtime than eating snacks, pizzas, going on vacation that I would spend instead of gaining especially in this my growth stage. Common on that's will be a mess. Am not saying doing all this is bad, but with proper planning you will know how to go about it,don't give room for Mediocrity. In as much as everyone is entitled to there opinion, decisions likewise everyone will enjoy the dividend of there action. |
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Some people may find that a moderate amount of gambling during breaks or downtime at work does not interfere with their job performance. Some people may even discover that participating in low-stakes gambling games helps them relax and clear their minds, allowing them to return to work feeling renewed. Everyone copes with stress or boredom in different ways, and as long as the gambling behavior does not become excessive or interfere with one's duties at work, it may not be appropriate to describe such people as "crazy."
That being said, it is essential for individuals to check their gambling habits and avoid developing an addiction that could harm their job and personal life.
Yeah, I agree with the sentiment here. If you can bet while working that means you can be using that time to do whatever else, like facebook or any other nonsense. If that is the case, then it is all good in my mind. The law of Concentration states "Whatever we do and dwell upon grows and increases in our lives". Whether one gamble during break , we don't. need to make it sound unique. It a bad work ethics overtime you get used to it, whenever is break you gamble which go lead to downtime in your performance. You're risking your money be it for fun ( we all lie to ourselves) you are gonna be pissed off or think, review why you lost even if it’s 1 minutes and the brain is wired in the sense that it will continually playback all those activities subconsciously. I disagree with you that gambling is one of the means people use to cope with stress and boredom, how? Is it entertaining? As you stake your money, one feel refresh and relieve? To go about there daily business (work). So are saying is dumbed for someone to Facebook while at work and very sensitive to gamble at work? You can gamble when you get home to avoid being frustrated at work after a lose. What other degree of nonsense is greater than gambling at work, mean why break its a time for meal and having a refreshing moments before continuing your task. Let us be real, and uphold proper work ethics, and also pay proper attention in other areas of our life. |
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And maybe because there are some shitcoins that are tempting, but if you don't do a thorough analysis and don't do it well and don't follow it from the start it will be in vain and very risky.
Come on mate, there are no amounts of researches that can be convincing enough to get involved in shitcoins, they are just there for distractions, Bitcoin has proven to be the best in all ramifications and there is no way we can make any form of comparisons or make it looks like Bitcoin irrespective of the level of researches and analysis. Don't forget that supply has a major role to play in the market, Bitcoin has a limited supply of only 21million, Bitcoin stability and entrepreneurship are far better than any other coins or is it about it's network effects and security Bitcoin are far better than then all, but however as JJG will always say that don't do more than 10% involvement in to shit coins as compared to the size of your Bitcoin investment which is a very nice advice at that. There is no degree of researches and analysis that will make shitcoins involvement any less risky as when compared with Bitcoin. Even though shitcoins only exist to divert attention, they have given people the opportunity to own Bitcoin by trading Bitcoin altcoin pairs or stable coins so they can buy Bitcoin. However, Bitcoin has proven to be the best compared to altcoins, so Bitcoin is still someone's main investment target. They can use shitcoins only for smaller portions or for daily trading while they invest in Bitcoin by accumulating it using DCA. They can use the profits from trading altcoin pair Bitcoin or stablecoins to buy Bitcoin. That is one way to own Bitcoin, and it can also be used to carry out the DCA method. But we have to remember that using shitcoins has a big risk because we don't know which shitcoins can provide profits, even though we can analyze them one by one. Not many shitcoins are able to survive for a long time while Bitcoin has proven to be able to survive for a long time. I know one can actually earn through trading , but trading is normally two ways one can either loss or profits And with too much risk attached to it . But one should not let his or her trading urge to affect their Bitcoin accumulation, in trading with just a slight mistake one can endup losing all his profit earn that period or even further lose all his capital in trading . That why I prefer to refer newbies to holding (Bitcoin) , because trading requires more time and skills before one can manage to be successful in it, while hodl once one have the basic knowledge of Bitcoin they can go into holding without more stress, maybe as time goes they would learn how to manage their holdings by having emergency funds and other related stuff. So even though you are trader and all that try as possible to have some stash of Bitcoin in your portfolio. And we advice that one should allocate more percentage of their earning , in accumulating more bitcoin. Newbies should only focus on bitcoin, and leave shitcoins. Bitcoin is the main priority not a clone of it that, focus more on building a solid portfolio from the early start, buy, accumulate, hold as much bitcoin you can debunking every mindset of short term gain over long term range. As JJG will say accumulate the fuck out of bitcoin within your limit, this isn’t just a coin but a valuable asset one can ever invest in. Using DCA, setting either weekly or mothly target will help dispense the weight. Trading is risky likewise investing. But holding minimizes your risk exposure, which for me is the proven way one can approach the bitcoin market. But I won't utterly say anyone shouldn't trade, if you have a solid Trading approach you can trade, but newbies or novice shouldn't. I would suggest if anyone wants to trade he should have a different wallet for it, and shouldn't in anyway trade the bitcoin he is accumulating. Nevertheless there is need to understand that including shitcoins in your investment plan, trading in the bitcoin market is not sustainable and involves big risks, only focus on what is trusted and build your portfolio, overtime you will be happy you invested in an asset like Bitcoin. Act within your risk tolerance. |
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Even we do say about not about gambling on which it would be always better that you should really be that basing into your own decisions and goals in life and never intend to reflect yourself on others success because it would really be just that derailing you into your own plans that you have set earlier. Dont believe into sayings but well it would really be just that depending on you since we do have our own mindset and will in regarding about possible decisions that you could make along the way. It would really be that something that needs up for you to have that kind of decision making on which you do see which one would really be beneficial for you. As for gambling, then it is really just that for the sake of fun and not something for you to make it as a source of income. You are just basically making yourself that putting into such risks whether getting addicted or would messed up finances. You're spot-on about autonomy. Owning your choices, not just cloning someone else's blueprint; that's where real growth happens. But this whole judge for yourself idea is a warzone. Everyone's got their two cents on how to live, but you're the one steering this ship Now, gambling can be harmless fun... at first. But the line between a good time and a black hole is thinner than you think. It's not just about losing money, it's about losing control. This stuff can wreck relationships, tank your mental state... you get the picture. That's the real gamble; letting the game dictate your life. Remember, casinos aren't built on winners, and if you're not in command, you're playing a losing hand Well said mate. Gamblers that be in control of there gambling state tend to perform more than others. I don't see or consider such proverb to be a trigger that would lead one to gamble, Proverbs are sayings with deeper meaning than actual word used. For me one can be lucky at anything and gambling isn't a test place to check if you're lucky or not. You win by chance and not any thought or illusion of luck. This is worthless for those that don't gamble, but to a gambler is a pill to keep him motivated in the quest to see how lucky he is. In essence only a gambler will get triggered by this quotes and this is far more different from promotions. For simplicity Promotions is targeted at having more customer base promising them with unrealistic bonuses and incentives whereas Proverb is mainly used to balance up by gamblers and having deeper meanings that illustrate and directs. |
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That is an excellent point; it might be tough to tell if someone is suffering from a gambling addiction especially if you don't know them well. However, there are several warning indicators to look out for, such as abrupt behavioural changes, unexplained financial difficulties, or becoming more secretive or evasive. If you feel that someone you know is battling with a gambling addiction, approach them with compassion and offer help.
The people that keeps complaining of becoming addicted to gambling need to check themselves and see if they are doing the right thing that would guarantee them to make money rather then becoming addicted to gambling. Gambling can be a good way to make free money so with that one need to be very careful on the kind of decisions we are making for us to keep seeing results that would benefit us as gamblers. To keep getting good results as gamblers, it is mandatory for one to keep upgrading and updating strategy that would last longer with more subtle way to bet without going extra miles to seek for funds to play games. One thing "gambling is not a place to earn", I understand that you can win in any type of gambling such as sports betting for example where your skills and experience can be used as a pretty good tool to generate wins, but the logic is that if gambling can be made a place that definitely earns then many people are rich and there will be no more people who lose? of course, this means that gambling is nothing more than a "possibility" where things will not always be able to go according to what you want. All wins in gambling are always "coincidental", meaning that you will only win occasionally because the possibility of losing will always lurk you in every session, so please don't build an unreasonable perspective or point of view on gambling, don't conclude that gambling is like having a certainty to produce, Do not focus too much on winning because what is certain is that it will only make you feel more disappointed when it turns out that you lose and usually people who come with goals and hopes for victory are usually less likely for them to be able to accept the fact of defeat which in the end emotions dominate and some out of control actions without rational consideration will occur and lead them to a much worse situation. I won't say gamblers shouldn't focus on winning, if winnings and gain wasn't present all this members preaching about fun won't have gamble. The truth about the system is, its not programmed to favour you which is one of the rarest truth, in as much as you can win huge so also you can lose much. Here then comes the safety method which is knowing and operating based on your risk tolerance nothing more or less, knowing how much you're are willing and ready to lose that won't affect you, this will shift your mind from expectations and let you operate based on your decisions and predictions. The truth comes when we accept it that the outcome in gambling is uncertain and doesn't need any skill set to alter that. Why we have many addicts and some already becoming addicted is as a result of the reward system in our brain once it triggers they careless about the risk and go far beyond normal, and often swim in unrealistic ocean of believe that makes them lose over and over again, win at times but can't detach themselves because of lack of discipline on there part. It would also interst you to know that this works similar also to Drug addicts. The side effect is emotional instability, financial issues which affects there relationship with family, friends and loved ones. This can't be overstretched on how not to get addicted, it gears towards YOU not to expose yourself always to gambling too much or prioritize it in anyway over other areas of your life. |
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Online or land based everyone gamble for same reason and as such you can't really determine those who gamble for fun and to make profits via any of this means. The sole reason there are more online gamblers is just revolutions in this digital age,it saves one from stress, unlimited acess and freedom while you gamble online.
Most people gamble which if they don't tell you, you won't why because you haven't seen them in gambling centres, and casinos. You see more reasons people now choose to gamble online, because it also help keep your gambling habit a secret, free from external eyes.
Nevertheless anyone choose the means which suite them, so it would be baseless to say that those these who gamble online are for profit making while land based are for fun meaning they go the casinos just to throw away there money, it's funny.
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I have a question OP who is to be blamed and if you are to fit in shoes were you are scammed will you blame yourself for being ignorant to fall for it and give accolade to the Fraudster?
We can't twist this, whether or not the we got scammed because of ignorance, greed, high expectations, this was plan and accessed by someone to carryout in other to enrich himself off people money which is evil. I know some will argue that the victims are to be blamed, but we should also know that no one is above falling victim for scams, the Fraudster presented a service with realistic perceptions filled with lies to deceive his victims that had believe and later end up ripped of there investment and you say the victims are to be blamed. I know we Human are not satisfy and once out reward system gets triggered we become blindfolded or careless about risks involved while taken some kind of actions bur hopefully some learn from experience and some also learn from the happenings and not allow themselves do same.
Both parties involved;The Fraudster and his potential client (victim), one initiates the idea while the other take action based on the idea for the benefits of both but ends up getting disappointed, regretful and emotionally unhealthy.
The law of Karma stands regardless, whatever you that shall you surely reap. Its funny how someone will think of means to scam others and not use same thinking faculty to sort out means to help (provide for) himself , this shows how weak such a person is with a low self-esteem.
OP I will blame the Fraudster believing the victim have learnt the hard way, no need to paraphrase it or lie to ourselves about what we all know isn't good.
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That's s very sensitive step taken by the government of your country and isn't wierd. Gambling sites, centres can be present but that mean they can't take measures to curtail the spread of Gambling in the country of which such is one of the measures.
I think this would help reduce the number of citizens that would participate, I love this. Most persons would have gotten interest after seeing post of winnings and hearing enticing words and benefits during promotions which in reality isn't easy as said. This is also safeguarding underage 🔞 from been expose to gambling at an early stage.
I would have loved if my country also initiated this measure, though all country aren't the same and have different policies. You don't many that would have gotten involved and lose much, those leading to debt and financial instability and issues.
My concern is; That the casinos and gambling companies (sites) don't have influencers and promoters in your country? If they don't this would have great impact in reaching potential clients thus affecting there revenue generation in your country.
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It will be hard to make Bitcoin a legal tender. Bitcoin have a decentralized system, at such has no control by centralized body or financial institution like CBN and others. Apart from that, Bitcoin have a high exchange rate compare to other legal tender. Take for instance, 1dollar is = 1,700 to Nigeria currency. But 1bitcoin is over 5,000 dollar, which if convert to Nigeria money is over #500,000.
Price of Bitcoin and it's high exchange rate has made it not to be assemble by common man. So it will be very difficult for Bitcoin to become a legal tender.
Even if Bitcoin is to be a centralized system where financial institutions can have control over it activities., Then my question is, what about the price of Bitcoin? Because I truly believed that many people will never want the price or the exchange rate of Bitcoin to go down because many bought it in high rate and will never want their money to be a lost. So Bitcoin becoming a legal tender is not easy.
I don't understand what you mean, are you judging from the perspective of exchange rate as the limiting factor of making bitcoin legal tender? From your write-up are you saying because someone bought at higher price, so making bitcoin legal tender won't be possible? You are looking from very far angle and it seems you don't understand what legal tender means? Because if you do you would have known the difference between exchange rate and what legal tender is all about. As far as I know $1= 1290 NGN, and is baseless to prove this will in anyway also be a limiting factor or influence it. I BTC is at $67,xxxK converting it to your fait which is NGN =80 000 000+ . Always endeavour to do proper findings before commenting and read through thread carefully. We all know making bitcoin legal tender is pushing it too far from it initial purpose, and would be safer we make use of it as it is now, since its not just a digital currency but also one of the most valuable asset with a promising future. We just need to accumulate, and invest wisely with a long term approach to enjoy the dividends of it for generational wealth. |
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Gambling for me is termed an Arena were both lossers and winners co-exist,because while some are winning some are losing and vice versa. Either you win or lose its unpredictable as you only get the results of your predictions nothing more or less. Before any one gamble you are already sure you can afford to lose that money and not let expectations dumb you.
In gambling you must surely lose, and data shows that over 70% lose more than they win, so to balance up you risk within your range(limit) also having a stipulated risk tolerance level to limit your exposure to more loses, the sites is a business and as such profits must be made, so you don't expect they will be in a position to allow winnings.
It normal to lose same as its normal to win, just don't overlap or place too much value on Gambling therefore neglecting important needs and development in other areas of your life.
In reality we all want to win, and the triggers in our brain if not controlled can lead to Addiction and financial issues, most persons in debt today is as a result of gambling so we learn and also take precautions to avoid such situations in our own case.
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I see most members on this forum playing along with Rule 7 on your list, my take remains we shouldn't lie to ourselves whether or not we all gamble because we want to win not for fun, please we shouldn't be blindfolded with this unrealistic believe, it only fun when you have enough money you are willing lose, and you just place random bets caring less about winning. Though this can't be overstretched as everyone has reasons for there action and believe is subjective.
Back to the real business.
No need to hide such from your husband, one of the quality of a healthy relationship is openness between partners, keeping it a secret might cause misunderstanding if he finds out by himself or in a different situation, so the earlier the better. You understand your husband practically well than any of us meaning you know how to go about it as far there is love between both of you it will be sorted out. No need for fear or panic.
The truth will be that you abide by the rules of the game, and it shouldn't in anyway affect your relationship or become a limiting factor to the family finance.
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Especially on sports betting we see some racism happening and this happened in most of the league that are popular of which so many persons bet on. It bothers me to ask, that imagine you placed a bet and somehow you have 80% assurance that it would come out successful. And on the process of waiting for the game to end there was some racism manipulation in the game which made you lost the game. It could be football or other sports cause its mostly found in sports.
Next time would you choose to not bet on a particular game because you feel the members of the VAR, or the referee are racist, and you are sure that there would be some manipulation?
This is new to me, I only know about racism players face from fans which is different from what you are mean. I don't believe racism will affect the bet you place or influence it in anyway you only got the outcome of your action. Saying a referee is racist and the VAR members is a NO for me, what prove do you have to backup your point, judging from your context you are even giving a room for what you feel to be true which isn't. The sport were people bets are manipulated is majorly in Comabt sports where they pay the one that is the favorite person to lose so as to liquidate all bet placed on him, but it carried out secretly. I don't utterly doubt you, but if they want to manipulate it won't have to be that the referee is a racist or the VAR members, the actual movers must include both officials of the club. Finally don't try to avoid taking responsibility of your action by clinging it on societal factors, you only get the results of what you gamble, as you lose someone wins and vice versa. If you feel uncomfortable on your bets don't place it, be disciplined enough to cancel it. |
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I saw a video on Youtube where the trader is able to make money trading, even when he is wrong...
The key points:
He is able to be in drawdown from 8 trades in a row, because he is not risking a large lot size per trade.
He knows the market will retrace back or close to the original first trade,
The newer trades act as the profitable trades to dampen the loss from the earlier trades
I am not an english native speaker so I dont understand everything in the video..do you know where I could find more info on this strategy in text/pdf?
Is it possible to share the video here in case someone is intersted in sharing more details about this strategy?
You can't be wrong and still make money in Trading, its impossible. You should watch out for all this influencer, YouTubers, affiliates most don't know how to trade they just look for there baits that would pay them for there courses and keep feeding people with lies and unrealistic results. That shouldn't be your problem mate, you should be concerned on developing yourself and your skills to leverage on your ability to approach the market than running after such strategy. There is no shortcut in trading you have to follow, learn and endure the process, the earlier you realize this the better. Sort out for reliable strategy and learn more on it than learning an unrealistic approach don't be pressure or hasty to earn but consider learning as major part of the game to ease your journey. You can apply for Mentorship programme to help you and you will be amazed on how fast you grow. |
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technical analysis is a useful tool for traders, but we have to consider it's limitations. Technical analysis is basically based on assumption about the past market statistics and data, without putting into consideration other external factors . So traders should not 100 percent rely on technical analysis, they should use it together with other methods of analysis.
Some of its limitations includes
1.it is based on assumptions about past market trends, gotten from the past market price and volume data
2.it is a backward tool subject to interpretation from different traders.
3.Technical analysis will not provide the full details of the market, that is putting economic and global events into consideration,
so traders should put all these factors into consideration before making an investment decisions using technical analysis.
The financial market is unpredictable, for me the best approach is simply not relying on only TA but also having a Fundamental backings of what the market is saying atleat to give you an edge and a direction in the market. Every trader need to have confluence and ensure all are met before they risk on any trade. We must know the Market does not respect anyone, and as such we only participate in a game of probability but with an edge we are good to go. So you do what works for you as all approach have limitations, you just have to refined it as it suites you. Some use indicators, Support and Resistance, ICT, Algo, SMC, OR, etc all this is geared to make profits off the market in essence we see it on the trader to build on this and simplify it to be profitable in the market. Once a trader can can remove every limiting factor in his system nothing again can tie him down. Rinse, Repeat and Refine. |
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You know as much as strategy gives us an edge, having a good psychology is also better and would carry us a long way in our investment, how would someone have a mind set that buying low and selling high is the best strategy to approach bitcoin with just because he feels he would make quick profits from it and disregard a long term holding that is a more after and better option, having a good mindset is also as good as using the best strategy and knowing how to do all the calculations, cause if you don't have a good mindset, you would find yourself often gambling than investing.
One of the most common area that even bitcoiners have a poor psychology is that they fail to understand the worth of bitcoin itself as an asset and for that reason they also fail to be able to want to hold bitcoin for long, to them bitcoin is just merely for profit making and that's why they may never get rich, cause how can you get rich when you don't have any bitcoin and end up selling evertime you make a little profit and the flaw to this strategy is that,
1. They would never have any bitcoin: after so many years of buying and selling, when they look at their portfolio there is no prove that they had actually bought Bitcoin at any time, and that is because they have been busy selling everything.
2.They would most likely remain poor : if you know about the compounding effect of bitcoin, then you would know that bitcoin favours long term holders more, and the more bitcoin you accumulate and the longer you keep, the more compounding value effect that would happen on your portfolio.
3. They would have more failures than success : while this might not be a general reality for many but one thign we know is that trying to time the market is not a very good thign cause you might be anticipating for the price to come to a particular level and it woudl never reach their, so you end up not buying and missing out and you have to wait till another dip which might not also come.
Another area that most bitcoiners fail to do is constantly reassessment of old strategies to see where there are doing it wrong, at times we might think that we are doing everything right, without knowing that we are on the wrong side, and that's why it is good to keep a journal or a record of all that you have been doing concerning your investment in bitcoin so you could easily spot out those mistakes and correct yourself, I personally use Google spreadsheet for now to save details on how much I've invested, detes and time an Di also keep a journal on what I'm doing, so I can easily find out where I'm faulty in my ways.
In conclusion been in bitcoin does not guarantee success, only doing the right thing and having a good mindset can guarantee such, yeah everything has its risk and we are investing with monet we won't miss, so potentially or if they is a possibility that bitcoin won't pay off we have to worry much about that.
The mindset you're talking about includes having confidence, trust and being discipline to know that long-term view of the market is one of the best approach in the Bitcoin market. The truth is some won't learn, there brain have already been filled and wired to believe the market is all about profit which is one of the limiting factor that differentiate those who become Rich and those who become Wealthy in the market. The major problem is lack of discipline and patience, which can't be overstretched, that's why we see some neglect the idea of building a solid portfolio over gambling of Bitcoin. The truth remains everyone would benefit and enjoy the dividend of there actions which is certain. The fun fact is that everyone know the promising future of bitcoin, of which we have seem proven reasons to keep investing in it for generational wealth yet some still gamble, Bitcoin is one of the most valuable asset one can have now, don't let temporal gain blindfold your eyes for what is to come because some will keep regretting all the days because they gave room for satisfaction at an early stage, we learn from history and would be awkward if some members in this forum don't have any results to show for in the nearest future after all this exposure. The only method that can be achieved is only through YOU, by setting and sticking to your long term plan regardless knowing you are present for business not just gains. |
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Gambling with a minimized amount of money helps the gambler to focus on playing responsibly. Because when money is not affected a lot, the player won't have to bother to chase loss. The emotional stress only starts the moment this player begins to get agitated over losing out his money. Greed is also a factor that affects the patience of gamblers, to go ahead their budget, instead of waiting for the right moment to win money. Due to greed most gamblers wouldn't mind sticking to wagering smaller amount of money. Especially when they're winning, their thoughts will go towards what the won amounts would have been if they wagered a bigger amount of money. Hence, players should sprinkle some patience to wagering strategy.
More on timing and know how things should work which the most common mistake when a gambler being penetrated of aggresiveness, either adrenaline rush or too much excitement, leading them to lose a lot instead of keeping that composure and have that patience to wait. Skills or knowledge is another thing which is only useful to help you to get closer to the chances of winning, but no matter how good you are at analysis, the final result of the gambling session is still unknown, which means that even if you feel that you have good skills, on the other hand, you also need to have good risk acceptance skills which we usually call responsible gamblers who are supported by several aspects such as patience, management and control, as you said that this is the perfect combination to increase the chances of winning by having good skills and also having good risk management to keep everything in balance. Timing is an excellent gambling technique, sometimes when gambling, I feel it's the right time to wager a bigger amount, and it works out as expected, and I'll get a win. Most times I don't win, but the fun gets funnier the moment there is perfect timing. Players also need to take up the responsibility of losing their money. Since the game isn't under the control of any gambler. Hence, while gambling the player should focus on what's in there for him to benefit, like analytical, management, and self-control skills. Money was not the primary purpose while gambling was established. In my response, gambling was made available to help test gambler's risk control, money management, etc. That's the reason why managerial personnel tend to gamble to enhance their skills especially when under the ever-increasing pressure of gambling. However, these skills could help facilitate the winning possibility of a gambler, but it's not certain. These skills when applied in the real-world business, work like a charm in improving productivity and organizational growth. Critical thinking can be harnessed through gambling, these skills are learned in online classes and people pay to learn them, if a player is focused on observing his games and understanding how gambling works, he could develop an outstanding critical thinking skill without paying a dime. Especially when he considers his lost money as a fine for having fun. Well said, but I doubt the fact that Critical thinking can be harnessed through gambling. It an unrealistic fact. Whether or not we all engage in gambling to make money with the already skill or qualities we possess. Gambling won't make any good of it, rather act on those that lack those qualities. I know you are trying to bring to light what you perceive as the positive side of gambling but these aforementioned can't be gotten or built through gambling. Patience only works when the gambler chooses bet according to his set rules. When that not the case once the game is in profits he closes with the winning, which often leads to regret later as the OP faced during his game, simply because he didn't trust his analysis and at the same wanted to make quick money off the game. The only way we can build confidence and have patience in our bets is simply risking what you are ready to lose, and know at the same time that you can't control the outcome and it's fine. |
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Emotion:
The cause of the emotion in the gambling site because of the loss due to bad luck.The gambling loss mostly occurred due to the emotional inference to the game.If the gamblers loss the funds in the gambling site,they become emotionally weaker person.This cause for the random betting in the gambling site.The more you control your emotions will cause you to win more in the gambling site.
The gambling is the game with two possibilities,which is the winnings and losing.The winning happens if you use your strategies to make the money,the gamblers who failed to make use of the strategies are the loser at the end of the gambling.The winner of the gambling always make money from it,So he get positive emotions towards the game.The gamblers with more positive emotions are able to win more in the long run in the gambling site.
Nearly eighty percentage of the gamblers are doing gambling for the money making,So it was essential for the gamblers to make use of their strategies to win money from the gambling site.How your emotions affects your games,let me know your past experience.
Emotion is one of the driving force of in Human, for me what emotions can't be totally eliminated but put aside that it doesn't affect your decision making while gambling. I suggest as a gambler once you're in a losing streak, close the sites or app to avoid placing random bets that won't help rather lead to more loses, we have learnt from this in one way or the other when we think we can revenge the casino or place bet with huge returns so as to recover our loses but end up getting disappointed. For me before we talk about emotion, the first criteria in gambling is Risk management and also knowing your risk tolerance this shades and keeps us from a place of emotional stands and regret. Once this factor is overlooked you will keep swimming in loses and piss off anytime you lose. We don't know the outcome of any bets we take, we gamble based on our belive system and what we think would work. So before you place your bets ask yourself; Am I really ready to lose this money? Do i really need this money? How much am I wiling to risk on this bets? Hope am not exceeding my risk tolerance? This questions put us in a place where we act based on our decision and self examination before we bet and not act based on expectations, if we lose we accept it because we have already taken it into consideration before it occurred. Some of us then to put the profits (gain) and our high expectations first before we consider the risk involved which is the sole reason we are pissed up once we lose and give room for emotional stands. We must understand that it's a business and they would also want to make profits and in no way have they programmed there sites to allow for your winnings. The earlier we accept this truth the better, so as to avoid more future loses and damage. |
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