Know your limits!

[khaled0111]

The good thing that you learned something, the financial world is really exciting and you can't stop your self from getting involved in it and accumulating as much knowledge as possible, but, when you start investing things will be completely different, all your knowledge can't help you when you start loosing, sometimes it is only about luck.

[1715081222]

1715081222

[1715081222]

1715081222

[Crypto della Mirandola]

Well, to know our limits - in trading as in any situations - is a very important skill.
But be careful, in a lot of situations, we have false limits.

[francis2]

Sometimes no matter how a product is good, the team is doing great and everything is perfect. Sometimes the market itself isn't perfect.

I agree. That basically applies to all investments, but what I see a lot here on this forum specifically, is how people believe to have found a goldmine ICO, which is purely based on the people behind the project and the idea/concept itself. They completely ignore all the variables that in some cases are even more important than the project itself. I have always found it weird to see people have so much faith in certain ICO's, while it still is nothing more than a gamble, just like all other ICO's. If people acknowledge and accept the risks of such an investment, then it's all good, even when things don't go according to plan.

Yes, even if a project is good that does not mean it is going to become a success, this happens quite frequently in some other industries the best product does not always wins especially if the other product has a better marketing campaign or a backing by some big players of the industry behind them.

[Biscutard]

Well, to know our limits - in trading as in any situations - is a very important skill.
But be careful, in a lot of situations, we have false limits.

Does the limit really have that thing? What if you really gave everything but still nothings happen? Would you still call it a false limit? I think it is just a matter of experience in trading and a good technical analysis to really ride the flow of the market.

[mycomike12345]

I hope you are doing alright.

So I'm writing this thread especially for me to get it all out but I hope it will reach to some other people who will find it valued.
For the last few years, I got serious about economics and crypto itself, I guess it's my passion. I find everything about money, economics, technologies, companies, crypto and many more very interesting. So I decided to try my luck, to go for this. I acquired a ton of knowledge, I followed the leading personalities in the economics (not necessarily crypto) and learned as much as I can. I spent months of reading because I really enjoyed it. Eventually, no regrets. So what I am trying to say is that I told my self to get into crypto as part of investments and then move to the stocks exchange but crypto as a start. My mistake? I convinced my father to hand my few thousands to invest into cryptocurrencies, and honestly, I wasn't wrong; my actions were.
The problem is the huge need for immediate satisfaction so I couldn't really HODL I guess and lost almost all of this.

What I am trying to say over here. That, those investments are based on a lot of speculation and knowledge but not only.
Sometimes no matter how a product is good, the team is doing great and everything is perfect. Sometimes the market itself isn't perfect.
So I'm trying to tell you KNOW YOUR LIMITS. Why so? Due to the high volatility (10% up, 10% down), I got addicted to this and all I wanted is to make 2x. I felt it was so close to me (to be honest if I wouldn't touch my money and just HODL almost no matter at what coin I would at least 3x). So I changed from a coin to a coin was looking for the closest pump, for instant profit I wanted it so hard without noticing I am losing very slowly.

The economy is a very complicated thing, I kept watching multiple long videos about the economy to look what I missed.
I am just a small letter in the whole bible, so I guess it doesn't matter. People believe they are different, but usually, they are not.
Plan a strategy and more than all, be patient and do not let emotions or urges get into your actions. Investments could be very nice but sometimes risky and harmful. Cryptocurrency, for example, brought the good thing, made every single person from his bathroom to invest and become a millionaire; that's a huge great thing but if you don't follow the basic rules it can be fatal.

In conclusion, don't put yourself above other traders or investors. Don't fall into the deep water. Actions should be taken very carefully and after a long smart thinking. I wish you the best!

I’m glad I am doing the alright. In school, I learned the basics of what thw economy is all about. I had a glimpse of the micro and macroecobomic sector. It is but true that the economy is very complicated. It is like a wheel, it turns, and you may be up or down. When investing, no matter which financial institution you are into, planning a strategy is always the first step. Don’t let yourself get in the war with ni weapons at all. Patience, I believe, is essential too  since you will be dealing with the conplexity of the things within the economy. Thanks for the advice dear user. Such would be an eye opener to all.

[munir15]

yes, know your limits when you do something that it can be harm you or other people.. , you think first, not just once but twice before you do that,.. enough is ok at least u tried..

[CASTIEL05]

In everything we did, we must always think our limitations. We must always make things equally. Equal in a sense that it will not bring us harm or destroy one's life. Limitation is not the motto of the people, human does not have satisfaction. And that is one thing why we always lead in conflict because no one of us don't have the satisfaction. We are ruined by our own wants. Sometimes we need to know that living in Earth is enough.

[MakeMoneyBtc]

It is very true what you are saying here, a lot of people think they are different but in reality they are not different at all. I guess everyone has to lose something before they learn how the things work, because only a very few people can do something good from the beginning. Even if you have a very good strategy created by a specialist in this domain on business, it is hard to follow it because you always want to do this differently in you own way because you think is better and you always want to make more profit because you think you are special and you can.

[yinyangwinwang]

Well said OP and it seems like you learned a couple of good life lessons along the way which is good. That is one thing I have been preaching a lot of lately, and that is this space can be extremely profitable but only if you hodl or don't pay attention to your emotions. Deviate from that and you will most probably suffer (unless you are good day trader).

[zngit]

Thank you very much for sharing your experienced. By the way experience is the great teacher ever in the world toward ourselves. This kind of teaching is very powerful in our life that we always remember to take care every moment we do some activities especially business. Learnings so far is unforgettable. Then we should take care to our selves and before participating in one ico we should be strong.

[hermae]

Thank you very much for sharing your experienced. By the way experience is the great teacher ever in the world toward ourselves. This kind of teaching is very powerful in our life that we always remember to take care every moment we do some activities especially business. Learnings so far is unforgettable. Then we should take care to our selves and before participating in one ico we should be strong.

Thanks for sharing your experience, atleast it gives us newbie tips on how and what to do. I think we should be cautious in every steps that we make. We must aim something and try to achieve it but not in a rush. We should take it slow and we should not let our emotions control us. We must all be patient and not rush.

[Jico79]

Human limitations are unpredictable, but talk of greed is endless without the expression, the footsteps attached to the currency can not be said before. On the battlefield there must be winners and losers, so the value of the man goes with the money. Think carefully so that no regrets are the best way to keep yourself

[CryptoBry]

Entry and Exit strategy is a must in this market. With so much volatility and manipulators you need to carefully plan your every move and get out as soon at you hit your target. Again, you don't need to be greedy. As long as you are getting profits then get out before your emotions take over, your decisions clouded and at the end lose everything.

I learned the same lesson the hard way. I got some tokens and coins from doing promotional bounties since last year and I decided to "hodl" most of them until now...guess what if I have to compare the value to my holdings from last year I think I already lost more than 75% of their value. had I sold them when they hit their highest rate, I could have used the money to finance my other business. This is something that many of us should look into or as what you said one must have his own entry and exit strategy.

[ronics]

                     You just ignore everything ! Do you have a plan about how you can get capital ? We have tips for you , though it is just a short value for us because many people have posted on the majority who have tips here .every trades should learn from their  own  mistake .failure in just another steps rowards success .don't lose hope in your life and get started making profits too slowly and why we need to post cryptocurrency profolio here .do we have experienced with the trades .who can afford most useful tips.

[Indrawan77]

Its a fantastic advice, a lot of people put their investment without knowing anything and only led by greed, and without proper knowledge  they are gambling with their investment, although crypto investments is very tempting it got a very big risk, so people who want to involve in crypto should always learn and prepare for the worst and never used any money from your daily need, the market is very hard to predict and sometimes can be bearish for a long term

[jamids]

What I am trying to say over here. That, those investments are based on a lot of speculation and knowledge but not only.
Sometimes no matter how a product is good, the team is doing great and everything is perfect. Sometimes the market itself isn't perfect.
So I'm trying to tell you KNOW YOUR LIMITS. Why so? Due to the high volatility (10% up, 10% down), I got addicted to this and all I wanted is to make 2x. I felt it was so close to me (to be honest if I wouldn't touch my money and just HODL almost no matter at what coin I would at least 3x). So I changed from a coin to a coin was looking for the closest pump, for instant profit I wanted it so hard without noticing I am losing very slowly.

I've done this too when I was just starting to trade. I am just overwhelmed by the fact that the market is so volatile so there is so many opportunities and since a pump is happening everyday then sooner or later I will be able to double my money. I traded from one coin to another and just blindly follow the advise of others and whatever coin the hype is, I would buy it. I am doing good at the beginning but later on I was burned. I'm being dumped because I bought too high and lose a big chunk of my trading capital. That's the time I realize that I am being too greedy so it backfired. I should just have patience and delayed gratification is not that bad.

[PauloLuks]

Economics is a science, but also marketing. In crypto, we see the two connected. It's not easy to dissect them. Some marketing campaigns can blind anyone. I think it's necessary, above all, experience.

[yugyug]

Before i entered the world of investments and cryptocurrency market, i try to study the foot step, the habits and the lifestyle of a rich and successful people in the stock market and economy and one of the person i admired is Mr. Buffet, he is humble, frugal and patient and what make him wealthy. So until i finally follow his mindset and i applied it on the cryptocurrency world in order to win a game slowly but surely.

[Choyor]

I hope you are doing alright.

So I'm writing this thread especially for me to get it all out but I hope it will reach to some other people who will find it valued.
For the last few years, I got serious about economics and crypto itself, I guess it's my passion. I find everything about money, economics, technologies, companies, crypto and many more very interesting. So I decided to try my luck, to go for this. I acquired a ton of knowledge, I followed the leading personalities in the economics (not necessarily crypto) and learned as much as I can. I spent months of reading because I really enjoyed it. Eventually, no regrets. So what I am trying to say is that I told my self to get into crypto as part of investments and then move to the stocks exchange but crypto as a start. My mistake? I convinced my father to hand my few thousands to invest into cryptocurrencies, and honestly, I wasn't wrong; my actions were.
The problem is the huge need for immediate satisfaction so I couldn't really HODL I guess and lost almost all of this.

What I am trying to say over here. That, those investments are based on a lot of speculation and knowledge but not only.
Sometimes no matter how a product is good, the team is doing great and everything is perfect. Sometimes the market itself isn't perfect.
So I'm trying to tell you KNOW YOUR LIMITS. Why so? Due to the high volatility (10% up, 10% down), I got addicted to this and all I wanted is to make 2x. I felt it was so close to me (to be honest if I wouldn't touch my money and just HODL almost no matter at what coin I would at least 3x). So I changed from a coin to a coin was looking for the closest pump, for instant profit I wanted it so hard without noticing I am losing very slowly.

The economy is a very complicated thing, I kept watching multiple long videos about the economy to look what I missed.
I am just a small letter in the whole bible, so I guess it doesn't matter. People believe they are different, but usually, they are not.
Plan a strategy and more than all, be patient and do not let emotions or urges get into your actions. Investments could be very nice but sometimes risky and harmful. Cryptocurrency, for example, brought the good thing, made every single person from his bathroom to invest and become a millionaire; that's a huge great thing but if you don't follow the basic rules it can be fatal.

In conclusion, don't put yourself above other traders or investors. Don't fall into the deep water. Actions should be taken very carefully and after a long smart thinking. I wish you the best!

I am grateful to you who have given his experience to this forum, so I agree with this that we must be patient and keep holding, besides that we also must be serious in handling it so that the results are satisfactory, thus we will avoid the risk of loss. Do this lesson than we surrender.

[Caladonian]

Entry and Exit strategy is a must in this market. With so much volatility and manipulators you need to carefully plan your every move and get out as soon at you hit your target. Again, you don't need to be greedy. As long as you are getting profits then get out before your emotions take over, your decisions clouded and at the end lose everything.

I learned the same lesson the hard way. I got some tokens and coins from doing promotional bounties since last year and I decided to "hodl" most of them until now...guess what if I have to compare the value to my holdings from last year I think I already lost more than 75% of their value. had I sold them when they hit their highest rate, I could have used the money to finance my other business. This is something that many of us should look into or as what you said one must have his own entry and exit strategy.

It's very important to have those plan so you wont stress yourself just in case you missed the train, inside this industry many things are possible to happen but being positive is a key to survive, if we are aiming to gain a lot then we needed to have a lots of knowledge and ideas if how things works inside this market, early assessment and good timing are the keys to success, we will be able to build our own strategy each time to made  a success or we suffer loses.