Mindset and personal expirience, how important is it in crypto?

[randomhumster]

Everyone who is investing in altcoins is actually investing in busines. What previous expirience can help you? Are we all starting from the same point or do someone have an advantage on the level of mindset? I've been thinking much about it lately. Looking at the people I know, I can say that we all are on very different position.

I came to an idea that thre are 2 major archetypes of people in crypto world: bussinesman and average people. I've made a small article on this topic: https://steemit.com/cryptocurrency/@cryptohumster/mindset-archetypes-in-crypto-world

To tell my thoughts short:
There are two main categories of people here: those who work for themselves and hired workers. I don’t want to say that any category is better than the other, but it looks like one gives you mindset more suitable for crypto world.

People with business background
They invest their money and time to their business and count only on themselves. They understand several important things:
- nothing valuable is given for free
- invested money doesn’t return immediately
- you always need to have a plan/strategy
This expirience and skills help a lot in crypto world. This knowledge always comes at a price and these people already learnt it before coming here.

Average people
Hired workers, students and etc. Such people don't usually have much expirience in investmaent. They learn about crypto from news or from friends and see crypto currency as lottery ticket to a bright feature. They don't usually understand the following:
- cryptocurrency is business in the first place
- you just can't really become reach by chance without working on it
Such people do silly mistakes (I did them too, a lot actually), the FOMO into coins, make decisions based on some youtube videos, follow the hype buying at ATH and sell in the middle of correction because they haven't become rich in first 3 weeks and etc.

What do you think? What was your expirience/skill that helped you in the world of crypto?

[Yalovtsev]

The very top to go with a strategy that you understand how you'll act in them to buy,or keep on market activity,or 10-20% fix. a couple of days,a lot depends on this!For example, I understand that it is better to remove part of the perspective in dolgosrok, and part of the trade, and look at the movement of the market in the first place,as it affects the direction of development

[surfinonmyownwavebaby]

Having the right mindset and having the right skill set is integral to anybody success at crypto. Best part of it all, is that since the industry is fresh and new anybody can learn these skills and anybody can become a successful trader. Main reason why people aren't is because they think crypto is some get rick quick scheme and that couldn't be further from the truth. You need to have a lot of discipline, mainly in emotional and money management skills. And that is much easier said than done, in actual execution it is hard to not let our emotions get involved because we are human.

[BlockchainGod]

I have been trading for quite some time (3 years about). Personally I think the most important thing is your ability to analyze the chart and have a good strategy. IMHO

[blinchain]

Because of the instability of the cryptocurrency market, one's mentality is important in this regard. If one is optimistic, he will be calm when he copes with a drop in currency prices. And experience, no matter what industry, is very important, it can guide you in the face of some special circumstances to make wise measures.

[Jimmy palumbo]

I think it would be easier to make money from cryptocurrency markets if people with long-term trading experience in financial markets, because they know to stop making money, and most of it is always too greedy.

[randomhumster]

Having the right mindset and having the right skill set is integral to anybody success at crypto. Best part of it all, is that since the industry is fresh and new anybody can learn these skills and anybody can become a successful trader. Main reason why people aren't is because they think crypto is some get rick quick scheme and that couldn't be further from the truth. You need to have a lot of discipline, mainly in emotional and money management skills. And that is much easier said than done, in actual execution it is hard to not let our emotions get involved because we are human.

Yes, that's true. Crypto market is so fast that 1 month here is like half of year on other markets. People have to learn fast here or they will eventually loose all the money. But it is still very interesting, that some people think diffrently from the very first day in crypto due to bussines expirience they have.

Another good part of crypto is that it makes people more self-sufficient, it teaches people to control their finance themselves, be more responsible.

[anggriani]

The first time I know the crypto is self-taught and I am a hired worker as you say. Very long I fight alone, learn and find information about crypto anywhere. Time running, I want to not get stuck as a hired worker, now I've started to learn and try to get the luck in trading. I also built a small community within my neighborhood that has the goal of introducing crypto to all societies.

[fatirborju]

My skill in learning Crypto is always trying to find out more about Crypto Whether searching know through the internet or news about Crypto in the newspapers
and at least I should be able to speak english, and I always ask about Crypto through my friend who is already first entered the world of Crypto,
In addition,My mindset must also be knowledgeable in recognizing Crypto....

[marinomario]

Any definite difference, they have their own way to find and earn profits. Not just investors, but like many hunters reward time to earn an income. of course we want to get the most out of it, some are doing part time job to play crypto, there is also playing time full crypto During this time there is a chance, it will be very interesting to go directly to the world of crypto.

[randomhumster]

I have been trading for quite some time (3 years about). Personally I think the most important thing is your ability to analyze the chart and have a good strategy. IMHO

So you new it from the begining? You came to crypto knowing you will need to work hard to earn money here or thought that you will het easy money here? Evetyone who is in crypto for a long time understands that you need to do many things; analyze charts, read whitepapers, follow trends, track news and etc. i.e. learn a lot and work. I believe a lot of people come here beacuse they've heard stories how people invested $10k several years ago and now it turned into $1m.

[Haley craft]

I think is not very big difference, because of different encryption monetary market and stock market, stock market make money money most of day traders, however, encryption money market a good way to make money is hold for a long time.

[coinmarketshortcoin]

It's a combination of both.
But also very important: Having the time to gather information, analyse, read through the news, charts etc. That's a pretty big issue for people having full time jobs and other time consuming commitments.

[aaacourt]

Everyone who is investing in altcoins is actually investing in busines. What previous expirience can help you? Are we all starting from the same point or do someone have an advantage on the level of mindset? I've been thinking much about it lately. Looking at the people I know, I can say that we all are on very different position.

I came to an idea that thre are 2 major archetypes of people in crypto world: bussinesman and average people. I've made a small article on this topic: https://steemit.com/cryptocurrency/@cryptohumster/mindset-archetypes-in-crypto-world

To tell my thoughts short:
There are two main categories of people here: those who work for themselves and hired workers. I don’t want to say that any category is better than the other, but it looks like one gives you mindset more suitable for crypto world.

People with business background
They invest their money and time to their business and count only on themselves. They understand several important things:
- nothing valuable is given for free
- invested money doesn’t return immediately
- you always need to have a plan/strategy
This expirience and skills help a lot in crypto world. This knowledge always comes at a price and these people already learnt it before coming here.

Average people
Hired workers, students and etc. Such people don't usually have much expirience in investmaent. They learn about crypto from news or from friends and see crypto currency as lottery ticket to a bright feature. They don't usually understand the following:
- cryptocurrency is business in the first place
- you just can't really become reach by chance without working on it
Such people do silly mistakes (I did them too, a lot actually), the FOMO into coins, make decisions based on some youtube videos, follow the hype buying at ATH and sell in the middle of correction because they haven't become rich in first 3 weeks and etc.

What do you think? What was your expirience/skill that helped you in the world of crypto?

Im not sure i agree completely. To assume that a 'hired worker' cannot attain he attributes in your first list is wrong imo. I know people that are extremely accomplished 'businessmen' and they display all the characteristics of 'average people when it comes to investing in crypto. And likewise, i know students who are new in this space that display the tendencies of 'people with business background' I do agree however, that the successful people in crypto will very often take on the behaviours described in first list, and unsuccessful people will behave like the second list.

[sourish]

Firstly, i think your distinctions are quite wrong, for though they might factor in on the qualities they definitely do not determine a better investor. Its a great question, one i feel most should think about, for a stable mindset is very important in crypto, where you can handle the stress of market fluctuations, and take the losses alongwith profits, in your stride. Create the right balance in their life too. Personal experience can be a plus, but sometimes, it can act as a deterrent from taking steps through preconceived notions, and not a fresh market study.

[ORS SA]

Mindset is extremely important and learning from mistakes is extremely important in crypto.

[JENREM]

I have been trading for quite some time (3 years about). Personally I think the most important thing is your ability to analyze the chart and have a good strategy. IMHO

Correct! First thing that you need to consider the most important thing about crypto is your ability. The ability to know what would be the best standard or strategy that for you to know everything about the crypto world.

[PaxtonFabian]

Everyone who is investing in altcoins is actually investing in busines. What previous expirience can help you? Are we all starting from the same point or do someone have an advantage on the level of mindset? I've been thinking much about it lately. Looking at the people I know, I can say that we all are on very different position.

I came to an idea that thre are 2 major archetypes of people in crypto world: bussinesman and average people. I've made a small article on this topic: https://steemit.com/cryptocurrency/@cryptohumster/mindset-archetypes-in-crypto-world

To tell my thoughts short:
There are two main categories of people here: those who work for themselves and hired workers. I don’t want to say that any category is better than the other, but it looks like one gives you mindset more suitable for crypto world.

People with business background
They invest their money and time to their business and count only on themselves. They understand several important things:
- nothing valuable is given for free
- invested money doesn’t return immediately
- you always need to have a plan/strategy
This expirience and skills help a lot in crypto world. This knowledge always comes at a price and these people already learnt it before coming here.

Average people
Hired workers, students and etc. Such people don't usually have much expirience in investmaent. They learn about crypto from news or from friends and see crypto currency as lottery ticket to a bright feature. They don't usually understand the following:
- cryptocurrency is business in the first place
- you just can't really become reach by chance without working on it
Such people do silly mistakes (I did them too, a lot actually), the FOMO into coins, make decisions based on some youtube videos, follow the hype buying at ATH and sell in the middle of correction because they haven't become rich in first 3 weeks and etc.

What do you think? What was your expirience/skill that helped you in the world of crypto?

the thing that helped me the most in cryptos is my own research and asking questions and than trying to find the answers for those questions

[MUGOmugo]

Mindset is extremely important and learning from mistakes is extremely important in crypto.

Yes to be exact, because without your mindset you cannot survive in this field. And mistake also is one of the fact that you can get lessons because with that mistake you make things go right at the end.

[alyssa85]

I think is not very big difference, because of different encryption monetary market and stock market, stock market make money money most of day traders, however, encryption money market a good way to make money is hold for a long time.

There is actually a huge difference. The pump and dump schemes that you see in crypto are illegal on the stock market, and lots of market manipulation goes on in crypto that is also banned in the stock market.