Know your limits!

[Procopiogamscrypto]

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 certainly agree with you, a limitation should be imposed in all plan of work or undertakings to obtain the desired result , just like trading and long term investment, patience and emotion are the key factors in this kind of game , it is too risky but what most of crypto traders said , invest only  for what you can afford to lose.

[charlotte04]

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!

Yes my friend, that is true. Sometimes we need to follow the rules and guidelines in order for us not to cry at the end. It is always important to have discipline in every aspects.

[gentlemand]

Most people know exactly what their limits are but they are totally incapable of sticking to them. As soon as the whiff of fear or fomo wafts up their nose it all goes out the window.

It's not knowledge, skills or shrewdness that defines success, though that's handy of course, it's the total command of your emotions. Very, very few can pull it off. I certainly can't.

[Shutup]

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!

Yes for me its important to know your limits. If we have limitations we have a decipline in our selves.Limitation is good because sometimes if your with your friends you have no limits which you do what you want. Because friends influence so much. Sometimes you can't refuse,because they will try you to pull up or push to a vises or wasting your time to nothing.

[Bugsbey]

Did you lost everyhting?Do you have a plan about how to recover your capital?
Your tips have little value for us,because so many people have posted the same tips here.Every trader should learn from his own mistakes.Every failure is just another step to  success.Just don`t give up and you will start making profits slowly.Why do you post your cryptocurrency portfolio here,OP?There are experienced traders,who can give you some useful tips.

That is correct. Not all mistakes are harmful to us. Some of them are giving us lessons. Because human as we are, can not be perfect. Sometimes we need to stumble  and fall inorder to learn to stand again stronger than before. Just try again and you must be smarter this time.

[nydiacaskey01]

The problem is the huge need for immediate satisfaction so I couldn't really HODL I guess and lost almost all of this.

This is the common mistake of traders, they forgot to make an exit plan or they may have an exit plan they didnt stick to to. Some have an exit plan but the goal is unrealistic. I agree that HODL is the key to this but theres a lot of  temptation to Sell when the price is down or the price is up. Bottom line, don't be greedy, be realistic and stick to the plan.

[Finestream]

The problem is the huge need for immediate satisfaction so I couldn't really HODL I guess and lost almost all of this.

This is the common mistake of traders, they forgot to make an exit plan or they may have an exit plan they didnt stick to to. Some have an exit plan but the goal is unrealistic. I agree that HODL is the key to this but theres a lot of  temptation to Sell when the price is down or the price is up. Bottom line, don't be greedy, be realistic and stick to the plan.

Yes.Once you start trading,set up your goals and know your limits first.You may meet some temptations along the road,but if you really want to succeed,stick to your plan.Most of the time our emotions are our best enemy so by avoiding greediness inside,we can avoid big losses too.Just learn how to be patient,and everything will fall down under your expectations.

[decoder88]

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!

That would be right, in crypto your actions reflect directly to your output. Actions should be taken seriously and slowly in order to have the full edge of your investment. There is a volatility in cryptocurrency that is why hasty decisions will lead to a lose of your investment. Before going to crypto it is better to read, research and study how the marjet moves and how crypto works in our society so that losses will be minimized.

In everything we do, we always need to set up our limits so we will still be on track. Every decision is equal to every action. And every action is equal to consequences. So we need to avoid bad decisions, to avoid bad consequences and to make sure we don't regret things at the end. We need to set goals and to make sure we'll reach them at the end.

[iv4n]

-snip-

-snip-

In everything we do, we always need to set up our limits so we will still be on track. Every decision is equal to every action. And every action is equal to consequences. So we need to avoid bad decisions, to avoid bad consequences and to make sure we don't regret things at the end. We need to set goals and to make sure we'll reach them at the end.

I quoted just you for your start, this post is about life and everything we do, not just trading. Some characteristics that we humans can have can be good for many things, but to be great in something you need to know yourself to be aware of the tasks that waits you and to know your possibilities and your limits, to never push to hard, don`t run away with first hard moments. Its more then knowing just your limits, its knowing yourself and for what you are capable.
To be honest this is more about psychology of a human character than about economy. If you don`t have some important skills you will not be able to push your way trough the life and become a man. If you know yourself you can be a good at many things.

[v0rtecxz]

good advice, it's true the desire to keep trying and curiosity never stops, but I also sometimes feel the desire to continue to try regardless of the risks that will occur when trading, perhaps because of my greed that only saw in terms of profit without thinking about the risks , so forget to take into account the decisions that I take, but as time goes by I begin to realize my mistake, I must be able to control greed and think clearly in making decisions, so that I can get better results from trading

[PokerStein1]

I did not know my limits and i hodl my coins too much and i lost 3/2 of them in dollars value. I hope i will get back what i lost and more of them when crypto become more and more usefull.

[Naughty Princess]

The problem is the huge need for immediate satisfaction so I couldn't really HODL I guess and lost almost all of this.

This is the common mistake of traders, they forgot to make an exit plan or they may have an exit plan they didnt stick to to. Some have an exit plan but the goal is unrealistic. I agree that HODL is the key to this but theres a lot of  temptation to Sell when the price is down or the price is up. Bottom line, don't be greedy, be realistic and stick to the plan.

Yes.Once you start trading,set up your goals and know your limits first.You may meet some temptations along the road,but if you really want to succeed,stick to your plan.Most of the time our emotions are our best enemy so by avoiding greediness inside,we can avoid big losses too.Just learn how to be patient,and everything will fall down under your expectations.

Limitations is depends on what we have plan. If we exceed on what is being plan, it will give a positive and negative result or will change how you take care of everything. You are the one who can control yourself and remember that you already meet your limit. You cannot lose a lot of money when you set any limit for yourself and if you get your goal do not stop but also do not be greedy. Do it smoothly and do not change your emotion.

[Altero]

I did not know my limits and i hodl my coins too much and i lost 3/2 of them in dollars value. I hope i will get back what i lost and more of them when crypto become more and more usefull.

You can do it mate,  thinking about this that not all the time we've been lucky, sometime we've down cause that's the real happening in here.  We cant avoid these,  we can make a recovery from that if we will never surrender and keep on believing. Doing investment again,  maybe this is the moment that you will make gains.

[samcrypto]

Most people know exactly what their limits are but they are totally incapable of sticking to them. As soon as the whiff of fear or fomo wafts up their nose it all goes out the window.

It's not knowledge, skills or shrewdness that defines success, though that's handy of course, it's the total command of your emotions. Very, very few can pull it off. I certainly can't.

Commit on one specific for you to succeed, put in your mind that no matter what happen you must stick to the plan. Yes, its not easy but I know you can do it. Limiting yourself is an ideal thing to prevent losses and allows you to maximize the opportunity that you have.

[LovelyFLOWER]

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!

Everyone people has a limmitations . As a human being you must know your limit . Limit has  a thing that anything has. But other people dont even stop to try and overcome thier limmutations so that they do thier best to reach higher than what they have today. Bitcoin has no limmutation because it is too broad to be determined because it is a provider of all.

[lablab03]

That's right.  Don't easily fall or risk your money to any investments site 'cause you will regrets after for sure. 'actually first thing to do is to learn more about the volatility of crypto currencies so that you can gain enough knowledge and strategy on it. And also always bear in mind that doing investment in crypto is risky so you must invest what amount you can afford to lose.. Perhaps small amount is good for beginners.

[ArnoldChippy]

I did not know my limits and i hodl my coins too much and i lost 3/2 of them in dollars value. I hope i will get back what i lost and more of them when crypto become more and more usefull.

If you do not know your limit, then there are more chances that you will lose a lot of your money, because investing money in any business having no limit and proper planning is too much risky, if you want to make money from trading you must have a limit and good strategy for trading or investment.

[aardvark15]

I have found that sometimes it is better to buy and then forget about it for a few months rather than watching the marktevery day and trying to time short term trades. Many times you will sell too soon or too late or buy too soon or too late. If you buy and hold long term, there is a good chance that you will make good profit considering that this is a new market with a lot of room to grow.

[Mevz]

I did not know my limits and i hodl my coins too much and i lost 3/2 of them in dollars value. I hope i will get back what i lost and more of them when crypto become more and more usefull.

You can do it mate,  thinking about this that not all the time we've been lucky, sometime we've down cause that's the real happening in here.  We cant avoid these,  we can make a recovery from that if we will never surrender and keep on believing. Doing investment again,  maybe this is the moment that you will make gains.

One success is a habit and its all downhill, people always being confident and never do some research. The path to success will never be a straight line. We all never learn if we don't have mistakes. But we should aim away from failures for us to succeed. We should have the guts whatever would happen we still continue and keep holding you'll only lose if you sell low.

[zarados]

The problem is the huge need for immediate satisfaction so I couldn't really HODL I guess and lost almost all of this.

This is the common mistake of traders, they forgot to make an exit plan or they may have an exit plan they didnt stick to to. Some have an exit plan but the goal is unrealistic. I agree that HODL is the key to this but theres a lot of  temptation to Sell when the price is down or the price is up. Bottom line, don't be greedy, be realistic and stick to the plan.

Yes.Once you start trading,set up your goals and know your limits first.You may meet some temptations along the road,but if you really want to succeed, stick to your plan.Most of the time our emotions are our best enemy so by avoiding greediness inside, we can avoid big losses too.Just learn how to be patient, and everything will fall down under your expectations.

in this cryptocurrency investment we certainly often face the moment of fear of a market that is crash, not satisfied with the 50% profit and always want more. yes, it's true it's all part of human emotions, and that's normal. Then how do we to cope? ie by consistently taking a choice set the take profit point you want and will not sell if the price has not touched your take profit point. As with the stop loss point, you alwo need to set a stop loss point to avoid bigger losses.