I think he should be gifted so much that giving the gift will not cause any financial loss and he will be very happy to receive the gift. We have to calculate everything if we waste money on unnecessary work without calculation then there is a big risk of reducing our money. We will always try to be considerate because it is very necessary for us to spend money wisely for the happiness of our family members.
The captain of the ship must be good at reading nature otherwise the passengers panic when a storm occurs. Yes. You are right in that it is very wise where calculations are needed and also where many people are often negligent and forget themselves when they are there and it is as if the critical period has disappeared. Money, whatever its name, if spent will continue to dwindle and run out if you remember, congratulations. Therefore, returning to ourselves, when we have more fortune, we must be able to remember that when we experience economic difficulties, that way we can set aside money to buy something productive which will be useful to guarantee our future. . especially for young people who should be able to prepare for their old age. because the main factor is lifestyle which follows the increase in the results we have, so whatever income will be used up to follow the lifestyle, and most will regret it in their old age |
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If we invest in Bitcoin, I think the possibility of losing all our capital is small, but if it experiences a decline in value, it can happen, as long as we don't panic sell, then we still have the opportunity to make a profit. The current problem is that many people think that by investing in Bitcoin they will get rich quickly. Before we have an understanding of Bitcoin, I think this is a high risk investment, because of factors within ourselves.
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It depends on the enthusiasm of the world community for Bitcoin, but logically Bitcoin has good prospects for the future, especially now that only a few people believe in it, imagine if half the world's population used it, of course there would be more demand for Bitcoin. But even so, there is still a risk, because no one knows where Bitcoin will go next, therefore we are required to be smart investors to deal with it.
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Pressure is something that no one would want to have at all there are some pressure that can even bring a man to see his end. So many things in this our human world can cause pressure to a man.
An example of this pressure am talking about is this our economy an economy where things rises everyday but no sufficient fund to back up with. Ok Imagine I bought a soup for 250 naira just after three days I went back to get the same soap I was told the soap is now #350 imagine me that have only 2k and have already scheduled how to spend it before I will expect something in the day coming this kind thing is another pressure I just dropped this one, there are many more bigger than this one.
How can a family man who earns 50k with 3 kids and also paying for rent feeds and many more, how can he with stand this economy pressure where there is no stability no mouthwatering salaries at all. This days we wake up and pray things should get better but it's like our country does not accept prayers everyday increments.
Nobody forced this man to have 3 kids, if he felt like he could not support them reasonably, so it is irresponsible in the scenario given. His lack of contraception usage is a problem that he has brought on himself and his family, so why should others have sympathy, but at the very least in many countries he would get government support at different levels. Pressure can also help build a man up to be an even better provider for his family, as it might drive creative thinking and inspiration in the aim of seeking out a better future for all of them. You could said it is a weak man who runs, hides or breaks down in the face of pressure that he has created upon himself out of a lack of self control in the bedroom. There is no one in this world who doesn't have life pressure, especially a man, who of course has to be responsible for family life, but we have to be able to react to it and think positively which means we have to be able to get out of the pressure. Many people are successful because they started from squeezed by circumstances, so you are forced to think and try to finally overcome obstacles, there are many examples such as when the Covid outbreak occurred, apart from natural selection |
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My question is, isn't trading almost like gambling considering it uncertainty and also looking from the fact that he has lost a fortune out of trading within a short space of time?
Is it possible for him to easily recover his money back or is losses like that very much a part of the trading experience?
Trading and Gambling are different. You are trading with the intention of investment while Gambling real purpose is to get entertainment through playing games. They only have common factor which is risk. Both trading and gambling has risk factor but gambling is riskier than trading due to house edge and it’s pure luck nature while trading can increase your profitability with proper analysis skills. Those people that will assume that both are just the same are those who use gambling in a wrong way. Gambling is an expensive source of entertainment and not a financial tool. Both have the end goal of profits but trading is likely to give more profits than losses while gambling on one side is going to make you lose most of the time and enable you to gain some profits only when you got your luck. They’re not really the same, it’s just that the one who often lose in trading thinks that it’s actually same like gambling, but if you are really trading while maximizing your own potentials in the market and trade based on your experience and acquired knowledge, you will never come to see gambling in your own profitable trades. It’s all about your gained knowledge, developed skills and enhanced strategies that made you successful in trading. Trading is not just a speculative factor like in gambling, but by trading at the beginning we already have a framework and from that we already know the risks and rewards, so we can create a clear portfolio in the long term, of course in trading we will not always experience profits. However, how can we be disciplined in the framework that has been created, so that if we experience losses, we are still in the healthy trading category. |
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I am seeking the opinion of the experienced and voicing my opinion.
I think if a training is 100% for learning, 1% of it is technical analysis and the rest 99% is psychological games..Because I have been learning and trading technical analysis for a long time but mostly I lose. I am still learning after that. I've noticed lately that big investors can handle trading as they please. Because they have a lot of funds, if they take a small amount, they take big trades and destroy it. In which case technical analysis is not enough. And I think psychological analysis plays a big role along with technical analysis.
But I don't have any psychological knowledge about trading. Looking for expert opinion on psychological mind set.
In my opinion, trading science is divided into 3 parts, of course the biggest is psychology, and the second is money management, and the smallest that determines trading success is technical analysis. Technical analysis is not unimportant, because most people look for the best techniques for trading, even though analysis is our way of getting a measurable framework so that we can minimize risk, and of course our portfolio can run according to logical targets. |
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In a trade, of course there are winners and losers, but some statements state that the number of traders who lose is much greater than the traders who win, this is due to the wrong mindset in trading. Most people trade with emotion and think that trading is a quick way to make money, on the other hand, those who experience big profits when trading become arrogant and become complacent and think that they are masters of trading, and of course there are many other factors.
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oh some bumped a 3 years old thread, here is my opinion about it. There are countless courses available on the internet regarding trading but in my opinion what you can get by putting yourself in is something that can't be gained by the courses. No matter how much the course is perfect,hand on experience tells you where you were wrong and where you have to go more deep in order to get to the right choice.
For this you have to do the market research by different techniques and then start to trade with a small amount which you can afford to lose then you'll see results.This technique will give you more insight than any course "a failure is the best teacher".
I agree that learning is not enough; reading and watching videos about trading is not enough for a trader to efficiently earn money from trading because trading requires experience, so execution is one of the best ways for a trader to learn. Through experience in different scenarios, a trader will hone its ability to execute even in chaotic market speculations, but in order for a newbie in trading to execute a trade, he should have a will and be eager to understand trading because without it, he will not have the leverage to take the risk. Trading is a continuous learning process in order to become a better trader. With a lot of resources you can find on the internet, you could certainly learn trading, but is it enough for you to be called a trader or to see the results? No, experience is one of the most important aspects of trading. Don't expect that in a short time you will become a profitable trader. The most important thing in learning trading is real trading practice, from this we will know firsthand the difficulties that occur while we are studying theoretically, no matter how good the theory we have, we will not necessarily be successful in real trading, considering the complexity of all the skills we need. mastered, of course psychological factors are the main problem |
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Strategically I use the same approach, there is support and resistance, and that is a defense, when the defense is broken, there will be continued movement. However, the same strategy is difficult to carry out on altcoins or meme coins because they are full of manipulation. the thing that differentiates it is the characteristics of the movement, where the crypto world is known for its high movements, and of course there are no news hours like forex, which are certain market opening hours in certain locations or there is news at certain hours which makes wilder movements.
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As long as I can see that it is possible to make a profit, why not? I have some short-term meme coins, and others are also long-term. Because I have meme coins that I hold, I do short-term trading, and I also have some meme coins that I hold for long-term trading as well.
If you can see the opportunity to get the profit from meme coins then I can see no problem with it, that's your money and that's your right to make your call. Just make sure that meme coins are really easy to be manipulated by hypes from the community and other aspects of influencers, make sure to check everything and keep in touch with the community on your social media of choice, it's easy as well to lose here. there are people who really like betting with meme coins, they are very interested in the high level of speculation. I think as long as they are aware of the risks and rewards and we can understand the characteristics of meme coins, so we know the entry and exit times for meme coins, they will get big profits from this trading. Therefore, it is not easy for someone to analyze meme coins because they are prone to hype |
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Trading seems very simple and easy when mentioned to our hearing but forgot the important things we should know before going into trading, and no matter how good in trading your understanding can never be the same as others because your experience so far in the industry is not the same and others can not have that experience even though they are very brilliant to learn everything within short space but they need a mind settling to able to concentrate in trading. A as professional trader you might seems to be, you can decides to give practice to your students or people but they might impatient to wait and follow up what you have put down there by disobeying you where if they enter such trades they quickly lose money.
Each person certainly has different experience and knowledge in trading and for those who already have good knowledge in trading, they will not necessarily dare to trade and only people who have experience and knowledge will be able to trade well, to be able to make a profit. in trading, of course we have to be able to know when is the right time to enter the market and be able to analyze the market well because if we cannot analyze the market well of course we will not be able to make a profit on the trade. To be able to train other people in trading of course we have to be able to teach it correctly so as not to harm other people when trying to trade because if we teach trading to other people of course we have to be responsible for what we have taught and most people who are just starting out in trading Of course they expect immediate benefits but they are lazy to learn it properly and this is our responsibility to teach it well. On the other hand, even though we are the same in the way we teach, we will get different results for each person. The first influencing factor is the psychological level of each person. What is worrying is the mindset that by trading we will quickly make money easily, even though thinking like that is the beginning of destruction. Therefore, cultivating correct psychology and how to trade correctly is highly recommended |
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I don't think it's necessary for us to let the bank know too much about our business. Because you are basically working with the bank on issues related to your bank card, and it absolutely does not need too in-depth information about your employment. The bank can only deeply investigate your employment in case they have to prove your income for the loan procedure, in addition all information you provide is voluntary.
Currently, my country still does not have clear laws for the cryptocurrency market as well as Bitcoin, neither prohibiting nor supporting, but I'm not sure if I will have any other trouble in the future when the bank knows about my transactions which involving Bitcoin. It's best not to clearly state your business, especially with Bitcoin investment.
There is no law regarding cryptocurrency in the country yet, but we don't know what will happen in the future, but currently if we withdraw crypto to the bank to convert it into fiat money, there is a tax fee collected by the government. I think what is clear is that the government will seek profits from cryptocurrency, because this is tax land, and they charge it through exchanges that are legal entities and must comply with the regulations that apply as a business entity. |
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I also agree that every Bitcoin investment should be long term at this point because we know there’s no way we will wake up to see 2x in a short time as we have passed those days when Bitcoin was worth a lot less and could easily be worth a lot more in really short time. People who hold short term still manage to benefit (especially when a huge money is invested), but the long term holders have a better ground.
It is indeed good to do long-term investment in Bitcoin, because later you will also get big profits, but it will maximize your profits even more if we buy in the bearish season and sell in the bullish season, of course we will get more. especially if we can do short-term trading, even though we get a small profit, it happens over and over again, but for short-term trading we must have adequate skills first |
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Regular money can get pretty complicated with central banks and government stuff but we're cool with it 'cause we've been using it forever. Now with things like Bitcoin it's like speaking a different language for many. People are skeptical just 'cause it's not what they're used to even though regular money has its own mysteries. Trust seems to come more from being familiar with something than really knowing how it all works
time will make many people aware of Bitcoin, there are still many pros and cons considering that in the world there are still many generational groups, but this is a normal thing, where today's young people will later become old people, and small groups will turn into children. young, so that at that time bitcoin will be better understood by everyone, not just as a means of making money |
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I would never think of holding an altcoin even if its a reputable one like Ethereum because stats says it doesn't worth it. Your stats aren't correct or can you make it more clearer to use as holding Ethereum has been profitable and some other altcoins too. Some memecoins also giving good profits if you hold it instead of selling it. BNB has been profiting to individual that are holding it instead of selling it to make profits. It's not all altcoins that are useless as some individuals are saying. Altcoins has made a lot of individuals profits and it'll keep making them profits including this bull market that's coming. Any altcoin that you want to hold has to been worth it and you should have done your research to make sure you're investing in a top quality project and not a random project that is looking to scam their investors. Altcoins that we should be holding should be those that have clear future plans and not does only getting launched with similar names to already existing projects and looking to benefit from their hype. It will be easier to analyze it, perhaps taking altcoins at the top of Coinmarketcap, there will be many altcoins that are less risky to invest in, considering that it will be much riskier if we invest long term in new altcoins. but indeed, if we analyze correctly, new altcoins can provide multiple profits, more than altcoins that are already trusted, but we also have to be wary of the hype that occurs, especially for meme coins |
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I basically stick to idea buy low priced coins like 0.00001$ that have good potencial
so when coins get to 0.01$ its a very good profit of %
I think this is laughable, are you really serious about this, this is the exact thing most influencer nowadays are using to deceive investors to invest heavily in meme coin instead of Bitcoin, by telling them that they will actually going to be a millionaire or billionaire if the coin they bought at the price of 0.000001 rose up to 1 dollar, which they themselves knows that it's unrealistic and almost impossible, expecially for a meme coin. But it's still up to you to know what is good for you, because the knowledge I have gotten about this meme coin and how they operate can't make me invest in them, unless I just feels like gambling, because that's what they actually are. but what needs to be appreciated is that 60% is invested in bitcoin, actually before looking for altcoins with low prices and potential, I don't think there is a need to put the remaining 40%, but we can put some of it in altcoins that are already established, or altcoins at the top, so it will be even safer for managing our capital. On the other hand, if we speculate as the OP explained, we should use a small portion of capital, so as not to be disappointed |
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Why we should patronize investment over savings is that investmet provides more profit than savings. Let's take for example you save money in bank for 3 years, instead of making profit your money would be gradually deducted bit by bit for maintenance, transfer or SMS fee. But in investment like Bitcoin, volatility in Bitcoin will make it to increase, except the volatility is a negative volatile instead of positive volatility.
Savings are necessary, there can be emergencies and times when you might need funds and you can't use funds that you have invested in such situations. Will you sell your Bitcoins even if they are at a loss if you face an emergency because you don't have funds for the emergency? You can't because that means you are wasting your money and instead of getting profit from your investment, you are getting loss and no one would want that. So it's essential to have savings, you don't need to keep it in an account where you will be charged fees and stuff, create a savings account and keep your savings in it so that you can use them whenever you need to. If you can afford, have both, savings and investment funds, so that you don't need to use your savings for investment purposes. I agree with this. Investment will definitely bring us more money since we can earn profit from it compared to saving where we just keep our money in banks and won't bring us profit. But both investing and saving are important. Since like what you've said, when there's an emergency it would be difficult for us to use our investment especially if it's doing well. Also on the contrary, if your investment didn't do well, we wouldn't be able to get something for emergency purposes. So aside from focusing on investments, we should also have our savings on the side cause we don't know what will happen tomorrow. Investment will help us earn money and saving will make it easy for us to find money whenever we need it. Investments are made if we already have savings, at least we have savings equivalent to one year's salary, so that if something unexpected happens then this is not a problem. After that, if we already have savings, we can invest according to the field we control, so that if something bad happens it won't disrupt our family's economy. Often people force themselves to invest, so that in the middle of the road investment must be taken to meet their needs |
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It is of course true that there are risks involved in any business, and this must be accepted by all. And if you want to do business, you must face risks, it is also certain that if you don't take risks, you will never be successful. In any business and investment be it trading gambling etc place risk is the most important thing, if you don't take it you can never understand its taste. If you have to move forward in the future you must take huge risks and face many kinds of losses but don't stop, but you have to take risks and you will get success.
We know that to get something good, we have to take risk. But if we can take risk for something good, then we will be successful. I have seen many people who dare to take risk while investing, as a result of which they do not achieve success by investing. To achieve success For right time for right work we have to take risk but we can achieve success. The higher the risk, the higher the reward. However, taking risks cannot be done carelessly, remembering that we must have sufficient knowledge so that we can manage risks well. Sometimes risks are also related to psychology, where discipline must be enforced when we have created a portfolio, because if not, our goals will not be realized. I am sure that if we can manage risks well, then we will be successful |
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Investing should never be mandatory and should only be done with funds you can afford to lose. Especially for highly volatile and risky assets like cryptocurrencies. So I don't think it's a good idea to focus on a monthly plan if the amounts invested are substantial. People doing that should do it as a game of chance, without specific goals. If they win, they must be happy, but if they lose, it shouldn't affect them, they shouldn't have to care about it.
that only happened with investment that has significant risk though but with investment like buying gold or something of lesser risk no need to be cautious whether we gonna lose money after all we won't and even if it did its because the value of that commodity is getting down and we don't lost that much amount of money anyway. just like bank deposits there's reason why they are so small in apy because the investment itself is quite secure, its just that people don't really like it because the interest only enough to cover for inflation. but for investment like crypto that are quite volatile, and also quite risky but also have significant APY and easily make profit out of it it does make sense indeed to think about the strategy and only use money we can afford to lose. Investing is not as easy as imagined, we have to study it first to know the advantages and disadvantages or risks. In general, investing is more profitable than saving, but it also carries greater risks, until the capital runs out. Therefore, risk management is required for investing. However, saving is also not worse than a consumptive lifestyle, considering that the money will run out without a trace. Therefore, as a young person, don't be lazy about learning about investing |
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So guys, is increase in minimum wage not a good measure to fight inflation. Let's have your opinion.
No definitely not, but it would also help people to catch up with the constant increase in price of goods and necessities in the market. However, these may have consequences that would cause the prices in the market to increase further more after learning the wages have increased, as the merchants, business owners, and companies might put a price increase with their products to supplement the increase of wage/salary to their employees. Fighting inflation is mostly with the governments side of job that involves the central bank. It is their job to avoid these rapid inflation, not with the people or with business owners. What happens in our society is that employees always demand salary increases on the grounds that necessities are becoming more expensive. There is indeed a return if employees comply with their wishes, of course product prices are getting higher, as if they are rolling like waves, which will actually increase the inflation that occurs. I think the government has done various things to suppress it, but this is only suppressing it, not stopping the rate of inflation |
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