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I think it’s better to see it this way: Improve yourself so that you are needed and paid more. Having skills would help you be paid more. You need to have your goal set with what you want to earn.
It would help if you made time to improve yourself and then work harder. The amount of input you provide will always determine the payoff. It’s also great to work smart.
If you improve yourself and work very hard, you will be paid more, be punctual and truthful with your work, your sincerity can also determined what you deserved, you cannot compare yourself to others, and wish to afford or earn what a particular person is earning, just composed yourself, and be your own self, then you will be able to know what you could achieved.
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It is not that easy to create wealth, it is essential that in the process of creating wealth or when there is opportunity to create any kind of material things you should have positive reasoning, impact all your knowledge, ideas, and skills on it, don't involved yourself in fraudulent activities or humbug, program a legal, and lawful way to create wealth, don't be illegalized or criminalize to be wealthy.
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Money can only make things happen that you want, that you can buy using money that will make you happy, but that alone is not enough. And you also have to know that it's not just money that will make you happy and rich, because there are many things that are more important than everything and also money. The most important thing is health, a life partner and also having a happy family, career and life experience which in my opinion is more than just money and wealth that must be had. And in my opinion there will be no point if you have wealth just by having money, if you don't have everything I mentioned above then it is useless and meaningless. Think carefully, what true happiness and wealth look like.
You've said it all, money is not all wealth, because money can not fix or balanceed our lives without the things you mentioned above, if you have money and you are single people will not see you as a responsible person and they will not seek for your advice neither count your decision, wishing to be wealthy when are not healthy, how will you spend the money when you are not healthy, money is very substantial in our lives and no one can live happily without it, having money will make you realize that you are a reliable person, money is needed to cover up or fulfill a lot of our responsibilities like purchasing food stuffs, we also need money to provide shelter, paying rents, fees, bills clothing and so on, but that doesn't guarantee that money is all wealth.
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Becoming successful doesn't even mean one must tie themselves with the rich circle before getting prosperous in life but what I usually says is that rich or becoming wealthy is from the state of mind and not the people role yourself with. There are many people who had the opportunity to be with some wealthy people but since they can't utilized the information gotten from them they still bounce back to square one where they came from because that mindset to recreate information given to them to be productive is where the problems lies.
What matters is determination, if you are determined to make success in life even though you found yourself in the poorest country you would still be Rich. For instance just take a look at our country Nigeria, there are lot of people who are crying about our economy today that is so bad but yet same country millionaire are emerging from it so does it mean that these people that are becoming wealthy has 100 heads or have all it takes to be wealthy? To me it's simply No because everyone nation has poor people and Rich people as well.
Associating with rich people can not make you rich or wealthy, everyone's destiny is written, some are destined to be rich while some are destined to be poor, we just have to be a predestinationist and believe that we can not change our destiny no matter what that is a fact, you have to be educated and nevertheless be hard working because it will lead you to your destination and revealed your determination either to be successful or unsuccessful. Avoid wasting of Resources, those who make use of their time on things that are not worth it will definitely know how it pains when they are in lacking of what they used to have before, one thing about wasting resources also is that, we may not know about the consequences now until it has gotten to a certain stage where its been made visible for us to see, resources are meant to be conserved, if we really know about the pattern needed or to use on this aspect about whatever some in to our hands.
Prevent lavishing money on unecessery things and learn how to be a manageable person, our resources is our desirable, it need to be reserved and conserved because it can serve as our assets which will be beneficial to us in future. inorder to be successful or rich you need to avoid bad influence, selfishness, laziness, and greediness. And be responsible, contented, hard working, eligible, motivated, heartening, and also always be honest because dishonesty doesn't pays. The most important thing that I see people do is that if they remove this habit, they will really excel in what they are doing. It is the automatic negative thoughts that come up all the time in that programming in your mind. This would translate into reality. You are harmful if you always think you are what you say.
It’s better to say positive things and make yourself that positive; it is like conditioning yourself as well.
Having positive thoughts alone won't make you rich, a lot of people have a positive energy and they also have big dreams but the failure to execute your plans to make money is still going to keep you in the same position... saying positive things is very important because our life goes in the direction of our words , that's just a step to development you have to put in the work, make some investments ,and expand your networking to actually become rich Being positive is not the only thing to do, but it is also important too, don't be judgmental on every situation, always hope for positive non negative and wish to negociate, sometimes our lives go towards the direction of our reasoning, thinking negatively about a decision affect mindset, it get rid of the motivation, and kill your motivated part, so you will not be able to see any good reason to work hard and be successful because you followed your negative thoughts and believe that you will never make it in life. It is advisable for you to be positivity in every decision you choose to make in life, weather it ends up successful or unsuccessful.
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Everyone has a different path in life and way of achieving their goals. Working hard and honing your skills is certainly important, but it is not the only way to achieve financial freedom or enjoy life. What matters most is how we choose to live our lives and achieve our goals because everyone must follow their own path, as long as they respect the choices of others.
As they said "opportunities comes but once" when it knocks on your door just grab it and make good use of it, our ways of pursing our goals are different but the aim is the same, which is to be successful and achieving a certain thing (money or to be wealthy), everyone has a ambition and wish for a better feature, your action is your passion, your passion is your motion and hard working is what will lead you to your determination and your success.
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I think that all countries around the world have homeless people, and they just differ in how many there are, I guess. And that won't go away, in my opinion. Each individual must exercise resourcefulness to avoid becoming homeless.
There are others who had an opportunity in another country to work, but when they arrived in another country, they later became homeless in the country where they were working, which is sad when that happens.
Exactly, all the countries in this world have homeless people, in everyone's life agenda being rich is part of it, all individuals purse goals and always wish for achievement, but sometimes life turn out in a way that is not favoring them, work hard to be successful and make sure that you never become homeless even if the dream of becoming wealthy was not fullfil. people are still having rough time up till now since COVID 19 Pandemic, since then poverty has being popularized, some have become poor and homeless, the world could have been better if it doesn't contain greedy, selfish, wicked and discontentment people.
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If u go ask me for my own opinion Bitcoin already dey legal though government Neva announce am generally but as it stance for naija u no go talk say u be Bitcoin investor then them arrest u. For me I no feel say Bitcoin fit make this our country better oo, how Bitcoin wan take create employment, how Bitcoin wan take make economy better. See this hungry wey everyone dey cry if them legalize Bitcoin naija go take advantage take make things hard for common man. The economy go hard more, corruption as u mention go even dey legalized, Bitcoin go become threat to the naira currency too so sometimes the government know wetin them dey do. Donald Trump for him reign as American president sight this Bitcoin and crypto currencies as something wey fit spoil their economy and bring corruption that's why him no support am forget say now him dey use Bitcoin as him major instrument for campaign him just dey seek the attention of the youths there is a possibility say him fit ban Bitcoin if him enter as president again. https://www.[Suspicious link removed]s/www.bbc.com/news/business-57392734.amp Though Bitcoin too fit still help some people to live the kind life when Dem want at their early age. I aslo no tink say Bitcoin fit better our country, Bitcoin no fit find job for our youths wey no get job oo, in dis our country wey we dey if the government announce am say make everybody dey invest with bitcoin na dat time you go understand say people fit turn it from decentralization to Centralized oo, cos physically you go dey see say na P2P, you no go aware say dey get intermediary wey dey invisible, if government announce am and it become tender, na only rich people e go favor oo, cos dey go still dey run things the way dem dey run am with fiat currency nd the poors go dey suffer the consequences. if government make bitcoin legal tender my country people go suffer, infact the suffer wey dem go suffer if bitcoin is being tender go pass the one wey dem dey suffer now, hunger go bcom more popular, prices of commodities go go higher, everything go dey hard to purchase, the commoners will be lamenting the serious inflation nd government go dey jubilate, I believe say bitcoin fit change a lot of people's lives, but if dey make am legal tender in our country dey go misuse nd abuse am, nd dey go cheat people cos no be everybody understand what bitcoin mean talk less of how dem dey spend am.
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LACK OF RESEARCH AND UNDERSTANDING: lack of research and understanding is the common mistake a lot of traders make due to willingness, eagerness, and impatient, they will involved themselves in trading without investigating and having proper knowledge, education and understanding on trading, and with having knowledge on the basics concepts of trading it helps to have a lots of experience on it and it will also serve as a guidance to the trader on how they are going to manage their marketing.
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There is a big differences between the past economy and the present economy, because the world has been evolving, life was simple and soft when agriculture was the only option, before technology and education was introduced, because from my point of view, I observed that the twenty first century has been very hard and the situation is becoming unbearable to everyone, Africa is also my continent and a lot of people are really suffering, because in olden days it will be very hard to see someone dieing of hunger, but it popular nowadays, current riches are the ones that can be classified as olden days poors.
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This has been a repetitive topic already but I still find it interesting to discuss. While trading can make our lives instantly change for the better, but we all know that it does not work as easy as that. Trading requires a lot of trading preparation before you expect to succeed, and a lot of emotional distress and pressures before you can manage your emotions well. Although trading is highly risky, but it’s always worth the experience in the end.
of course, trading can change our lives for good, but we have to motivate our emotion, get rid of anxious and anxiety, sometimes lose and gain are unpredictable, traders have to be patient and never give up easily, trading doesn't disappoint people, but it only work the way it is, there is nothing you can do to prevent yourself from losing it is impossible and impossibilities can never be possible, once you've lost you can never retrieve the money again, and you can not retaliate in trading or you may end up losing more. Before you decide to trade bitcoin, know that you’ll lose a lot first before you’ll be able to succeed. Trading is never easy but majority still find it hard and risky so it’s not surprising to see a lot of traders losing than gaining profits. That’s why get a decent job first before you decide to enter trading as you can never guarantee making big money out from trading. And also, never trade using your hard-earned money, otherwise you’ll end up losing them all and regret in the end, knowing you’re still not good in managing your emotions that makes the best enemy in trading.
if you are planning to trade, you have to be prepared and be ready trade, be ready to gain and also be ready to lose, engaging in trading doesn't mean that you will be making a huge amount of profits, some people will have interest in trading but it doesn't suit them, and when they realize that they are not meant to be a trader they back off and focus on other things that will be profitable to them, when some lose in trading they become anxious, trading has a lot of difficulties and challenges but some people didn't give up still because they have a lot of responsibilities on their head.
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These days it is difficult to talk about any kind of lifelong job. The world is changing very quickly, and now a person does not associate himself with a profession. He understands that his personality goes beyond mere function. This is why people change jobs, because at different times in their lives they feel different needs and manifestations of themselves. It's the same with trading. This job is not forever, because over time your priorities may simply change.
There is nothing in this world that is permanent, if you are rich you may become poor and if you are poor you may become rich, an unemployed person may be employed, and employed person may be fired or retired and that is also applied to trading you can't be a trader for the rest of your life, sometimes losses capture our emotion and it doesn't allow us to focus on our motivation, people exchange a lot of things in their lives just to make it balance, some are afraid that the market is volatilisable and can be volatile anytime.
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You literally just started a month ago. Most people don't earn from their trading for years. Trading is really not something you can expect to earn money early on. Like every day, I see some random coins get boosted. Some people earn from how they know that coin will go up.
You trading doesn't mean you can't have a long-term portfolio. You can do both trading and investing(as most successful people in this space do). It is unfortunate to some people, they spent a lot of year suffering the losses and they enjoy it at the end, they were just being patient and also they were ready to bear the consequences on whatever happens to them t In trading process, and that is how you will be able to become a successful trader, you can't expect yourself to earn money the very moment your started trading.
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It is not a big deal for you to inform your family about your source of income, I think it is the best thing to do, in case of any emergency, for instance if you are dupe or you are being victimize, in this kind of cases you will need your family the most, and if they don't have any idea about your source of income, how could they be able to stand by you and defend you, I understand that family are complicated sometimes, but no matter what they are still your family and they are the ones that understand you the most, as people say "blood is thicker than water" whenever we are in doom our family use to be our last hope so what is the the essence of keeping secrets from them.
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Trading checklist may not be so crucial for someone who is professional in trading. However, for those beginners in trading, I believe this could help them a lot so they can assess the market well if there are potentials for a successful trading or the chances are very slim. With that, it could also help them limit their trading losses as well because once their checklist results seem not good enough to trade, then they will wait for the right timing to trade.
Yeah, I agree with you that trading checklist is not of essence to professional traders and it is of essence to the beginners traders because it will help them a lot in making the right decision before engaging themselves in trading, a business is always a business so I think that it is also useful to professional traders for them to become a successful trader, it will also serve as a guideline to them and how they will manage their business, after making the trading checklist and the person study it very well, he or she will be able to make the right decision weather he can trade or not.
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Before you started trading you already know the basics of trading, you may lose or you may gain in trading that is the fact about it, you have to be a motivator to yourself and always give yourself a good reason to continue trading no matter what situation you found yourself, trading is a difficult task, you may feel down if you lose but you have to exercise patient and never give up on it, you may enjoy it at the end, eliminate your fear and develop your courage that will facilitate you in making the right decision.
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I live in a third world country and the price of petrol products and other commodities are 3x that of last year, and I don't think that price will come down anytime soon. Cost of living is fucking expensive now.
Inflation is very high down here which has affected every sector of the market. Getting the money is also another problem because minimum wage has not being increased and people who are earning salaries are really suffering because their monthly salary can no longer take care of their needs. I have a neighbor that quit is job, because of high transportation fee. After he did his calculations and saw that transportation will consume 90% of his salary.
Same here, in my country prices of commodities are 3x, some are 4x that of last year, inflation has affect a lot of countries seriously, the value of our currencies has been declining due to the current economic situation, we are still hoping for disinflation to happen, but the economy is worsen day by day, what some workers spend as transportation fee is greater than what they earn as salary, a lot of people are dieing out of hunger, poors doesn't use their money to purchase things that they need now expect foods stuff and still the money are not enough for them purchase enough food stuffs. Salaries are not enough to spend and some government are not willing to pay, the inflation that is happening day by day has become unbearable to my country people that they have to protest against the government. Raising cost of living forces people to work more. Working more hours to buy less makes the rich richer.
It makes the rich richer and also makes the poors to become more poorer, because for instance, after working all the hours to buy less and you fell sick due to strain and ended up at the hospital, the less money you make to feed as to be use for the hospital bill, for you to feed that very moment will become a huge problem to you, what if the money is not up to the amount demanded for the treatment and you only depend on that money, as people works more they deserve to be paid higher, so that the money should be able to feed them enough and also fulfill some of their responsibilities. The way things are in my country has made most of our youths to start indulging themselves in some kind of illegal activities and our government is not actually doing anything which is why corruption is getting higher each day but we pray that God will always see us through and we will also try our best to survive even when it's not easy.
The reason why corruption is getting higher because those in position are also the ones involved in such crimes. They protect their fellow criminals for a sum of money. Sometimes they are even the ones directly who control such crimes. With how poor the living situation is, people have no choice but to resort to illegal activities and exploitations. Meanwhile The rich gets richer and the poor gets poorer. Is the current situation we are living in now that is forcing some people to involved themselves in illegal activities like, terrorism, kidnapping, robbery, bribery, corruption, stealing and so on, and government has turn deaf ears about it, because a lot of people that are involved in those act are ordered by rich people and politicians, the law enforcement agencies that supposed to stand up to protect the citizens, defend them, guide them and arrest whoever commit a crime, punish them and correct them so that right of any citizen should not be neglected, are the ones protecting the criminals, because a certain amount of money was given to them to silent them, the inflation is only affecting the poors not the riches.
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We never had issues with any newbies and I have even called out on the tenured users of this forum to be more polite towards newbie but the only humble request I have with newbie in addition to the list of pointers is please do not indulge into shill marketing or marketing scam projects.
Bravo, as a newbie we have to be humble, truthful, honest, understandable, and generous and also follow the footsteps of our high ranked members, weather you are newbie or legendary as long as you are a member of this forum we are family, we are here to guide one another to achieve a common goal, so what is the big deal if we are being polite with one another, by the way thanks for the wonderful advice. People should not see this forum as a place where some are being restricted of some certain right of expression on how they can contribute, its nothing bad if we are having enough information about something and we take it up in bringing it here to enlighten other members regardless of our rank, but many are not found in this category, instead they engage on something that will make them portrait another image of themself to others through what they post instead of them learning to acquire more.
It is not against the rules of this forum for someone to post a certain information to enlighten others as long as it is not junk posts, anyone can contribute on this forum for us to aquire more knowledge, I believe that many of us have learnt a lot on this forum with the help of our fellow members.
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Futures or spot trading will be like gambling if you trade based solely on luck or unfounded predictions, and not your knowledge.
If you use spot trading but don't set up stop-loss and take-profit orders, you're just buying and holding until you make a profit, and that can take several months. I think you are investing for the medium term, not trading. Once called trading, it means you need to follow the take profit/stop loss rule and if you fall into a constant stop loss state, you will also lose money.
I think the difference between trading and gambling is our knowledge. People with knowledge about trading never consider trading as gambling, on the contrary, people who have never traded or have no knowledge about it consider trading and gambling the same.
For me, trading and gambling are very different, because when we start trading, we have prepared ourselves thoroughly, and are mentally strong so that everything that happens will be accepted and can be corrected for a better future, and we also have to master extra patience. to lead to good changes for our trading to be even better than the previous day. Gambling is only about seeking profits through luck, we cannot be sure that we will continue to make profits when we start gambling, what we have to remember, when we start gambling, the first thing we have to accept is a loss, even if we win or win. Profitable means luck is on our side, so the difference between trading and gambling is clear. Trading and gambling are two different things, because it is very hard to identify the similarities between the both of them, traders usually trade with the aim of making profit and so also gamblers also gamble with the aim of making profit, but the differences between them is that, a trader can be successful in trading with the help of aquiring knowledge, skills, being patient, understanding and good experiences, lose in trading is like a mistake and if it is corrected, you will learn good experience from it, and it will stand as a better chance for you in feature. gamblers depend on luck, they doesn't have any special knowledge on gambling, when a certain amount of money is use by a gambler to gamble and he/she lose, they lose for good, and they will not learn any good experience from it, sometimes gambling lead to serious conflict between the the gamblers.
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You know that you shouldn't always put all your assets in one basket and this is to make sure that you won’t lose everything if it doesn’t go your way. The best way to prevent this to have risk management and if you are taking a loan just for this, Make sure that you have a way to pay it if it doesn’t go the right direction that you want.
Indeed, it’s always going to be like that. Risk management is going to be the key to preserving money.
Putting all your assets in one basket in very risky because the basket may fall mistakenly and pour away everything in it, but when you put them in different basket and one fall away, you will still have the remaining ones to depend on, when starting a business you cannot invest all you have in it or you may regret it later, spending a lot of money and leverage in a business is not the most important thing you need to do, for you to make a lot of profits, you have to involve risk Management so that your business should run smoothly. I find it funny for people to go borrow money to trade or do investment, at first what are they thinking where is their mind to say that they would go borrow money to venture into a business they have no knowledge about. The thing is both in trading, investment or gambling people shouldn't do that even though it's proven to be a trust and reliable games because most people do calls correct score and I know there's nothing like correct scores because not game is sure, same it's to trading if you aren't sure of the kind of trading you wanna do it's better to avoid it entirely and take time to learn your trading.
Making decisions to start an investment or trading is not a big deal but you have to compose yourself and be knowledgeable on what you are about to engage yourself in, also be aware of how risky what you are about to do is, understand the advantages and the disadvantages, and also the rules and protocol that guide that particular decision you've taken. If you start something without prior preparation, it's results will definitely be terrible, i think same thing happen with your friend, he is not skilled in trading but start trade and wasted money. It was absolutely wrong to take loan for trading, he should have realized it was a very risky investment without proper knowledge in trading.
Borrowing money to start an investment or trading is the biggest mistake some people made, what will you feel when you lose the money, and you clearly know that is not your funds, what if you give them something dearly as a collateral, can you afford to lose something that is dear to you?? When you decided to start an investment or trading, make sure that all the expenditure are yours no matter how little it is, and spend what you can afford to lose on it (either on investment or trading).
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Nobody is exempted from losing OP; all traders experience such things, even old and experienced traders. Maybe we could say that newbies often lose more, but they should not have put this as an excuse, as this is a way to minimize it by acquiring knowledge first before trading.
And that is right, we should never take trading too easily; we must understand the risky nature of which learning should be prioritized. We take into consideration the shared experience of old traders. Perhaps they are giving us some ideas about what we should do. If we want to succeed, then we must also change our behavior and trading approach. Having smart thinking would always do us a favor, not failure.
Exactly, there is no an adapter in trading, no matter what you do and how you tried you can't be obviate from loosing, but that doesn't guarantee you, because it can be slackened, I also agree that newbies lose more and it is all because they don't have enough knowledge on how risky it is, with time some will understand what trading is all about, and also learn to know what they can do to prevent themselves from loosing a lot. I would have loved it if you could use "May" instead of "Will" in your title, for this context of "Will" often puts traders and intending traders into trouble as if they still have some undeniable successful future in trading but it is not as easy as that.
Some traders will never make it in trading whether we like it or not and this advice of yours should not be limited to newbies alone but for every trader, there is no reason to rush, patience is a virtue.
Absolutely you are indeed correct, it's not everybody that will be a successful trader, a lot of things are needed before you can consider yourself as a trader and make progress in trading, like knowledge, skills, honesty, experience, contentment and being polite. when a trader have a good knowledge, skills and experience, it may prevent them from losing a lot, if you are not honest with your vendee how can you be honest with yourself, if you are not happy and satisfied with what you earn it can lead you to greediness, if you are greedy you will lose a lot of expenditure, if you are not polite, it will discourage people from purchasing your goods, if you want to be successful you have to be patient it is the key to success, if you are impatient you may make a wrong decision that you will live to regret for the rest of your life. New traders are losing. That is just the fact.
Do you know the worst part? They may think they know about trading after they have traded some coins and making money from it every time. They will be tempted to double their money or even increase their leverage. Then the loss will begin.
The traders that did not lose too much in the begining are using just little amount of money which is very small.
Using little amount of money to trade can not prevent you from losing, but it is advisable to start trading with a little amount of money that you can afford to lose, so that even if you lose you should be able to stand strongly again, but some people are eager thinking that the higher the capital the higher the profit, from the look of things this is the true definition of impatient, because for instance, if you are not patient enough to wait for the right time and you go ahead and start your first investment with huge amount of money and you lose, you will end up regretting it, all of this this happened due to impatient.
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