Investing doesn't guarantee you to be rich

[Dunamisx]

So the question is how can we make our investing career to become successful?

There are many ways to make good utilization of the advantages in making an investment, we have to define the purpose for our investment first, are we going on a long term investment or short one, we also needed to what exactly about the kind of investment we are making, we need to have an idea about making an investment especially when it comes to bitcoin investment in other for us to stand more chances of making profits, this will also help us in knowing when is the best time to invest, hodl and sell our asset, how to store them and then monitor the network flow on the bitcoin price through speculation.

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[m2017]

~snip

I like the topic title. Indeed, investing doesn't give any guarantees and this is not the road to wealth, but without investing, in principle, it is impossible to increase your wealth (of course, this is only one of the options for becoming rich).

You have listed 6 points that you consider important, but missed the most important point - this is 7. ACT. Without it, everything else is empty sound. Do you want your investment career to be successful? Then start taking action. It is at this point that so many turn off their path and they never achieve the desired results.

[TheUltraElite]

It is not exactly the same as gambling, but it is a part of gambling,

Spot trading is an EV+ gambling. Futures, Leverage and others are all EV- gambling. This should be made clear.

where there will be winners and losers.

Winning is only if you predict the correct movement. There need not be money involved directly, you could be dummy trading as well. I dont equate green numbers as winning here. Rather it is a question of whether you are in a total profit or not.

Well, not everyone who invests will get rich because to become rich we need to take other people's money. The government is not printing money and pumping bitcoins up to make us all rich, but players like us are taking money from each other.

The weak hands will lose the money they invested if they sell at a loss. If they are cunning they will hold it for long enough to watch it cross the break even and then sell. It is all a matter of patience here, along with all what OP has written.

[Yatsan]

No investment has assured returns which supports the idea that not all investment would make you rich in an instant. Also, successful investments mostly, suffered from failures for sure no matter how an investor is prepared of it. Some of them had thoughts of giving up. It already takes courage to start an investment so what more of continuing such thing. Risk will always be present and there are variables an investor won't have control of, which could contribute to an investment's downfall. In fact, most of the investors are atleast hoping for a breakeven between asset and expenses simply because negative outcome often occurs. It is okay to have desires or big dream out of something you have started but always manage the risk and expectations 'coz not all things would come as expected.

[Bananington]

The majority of the investors and traders have misconception on investments because they think that they will easily become successful by putting their hard earned money in bitcoin and other assets ...

They will not become easily successful just because they invested but they have a higher chance of being successful just because they have invested. Not all investors will become successful from it, and although their chances of being successful is higher, they still have a personal responsibility of ensuring it becomes a success by following up closely. Just like planting a seed and tendering to it till it matures into a tree.

[usekevin]

It will be the motivation for the traders to get into the crypto trade by their wish to win on one day by their trading.But the fact is only fifty percentage of the people get into the profit zone and became a successful people.But sadly fifty percentage of the people do of random trade and loss their all the inputs by less knowledge of the trade.So they leave the court of trade by the way of bad exist.The beginning traders learn with minimum capital as compared to bank credits.When you get into trading,you should ready to fake all the difficult and risk in the trading for stock and cryptocurrency.

[GiftedMAN]

To be fair if you're trading a shitcoins, you have a chance to become rich, but the risk is very high.

Imo I think anyone who's trading shitcoins are gambling because the end is always very bitter. Shitcoins gives you money today and takes away your capital and the profit next day because they have no history, life span or future, I would rather not involve in an investment at all than invest in a Ponzi business like shitcoins. In shitcoins your chances of getting rich is 5% compared to 95% possible losses that's involved so don't even talk about shitcoins because they have sent many souls to early bankruptcy because of the excessive risk and losses.

[Cryptomultiplier]

The majority of the investors and traders have misconception on investments because they think that they will easily become successful by putting their hard earned money in bitcoin and other assets without understanding that it is just the foundation and they need to work really hard and follow the other steps to beat the market and able to have gains in their portfolio. Don't get me wrong guys because I really promote investing but majority do not understand how it works, they think that there will be a guaranteed profits oncethey put their hard earned money but in reality, it is very harsh because outcome is not guarantee which means that there are thousands of outcome that can happen and what we need to do is to be prepared on what ever situation will be. So what are the outcome? they incur losses. They do not understand the risks associated with the asset and if the rewards are worth it or not. I read a past research and they conclude that only few percentage of investor are consistently making money and majority of the investors keep losing their money because of lack of knowledge. It is the number 1 reason why investing doesn't guarantee you to be rich.

So the question is how can we make our investing career to become successful? These are the steps that I personally formed and I think it can help you in some ways.

1. DESIRE: You should have a desire to be rich! Most of people wants to be rich by they do not have desire to become one. They simple say it but they do not put work for it. There is a big different on saying you want to become rich and you will become rich. Be sure that you are one of the people who have desire and consistently saying that you will become rich because desire is energy. And if you do not have energy, you cannot put work and effort for you to become one.

2. INVESTING ON MIND: Invest in knowledge before putting your hard earned money on bitcoin, the opportunities in the market is unlimited. Do not fall for the Fear of Missing Out because the opportunities always existing in the market especially if you train your mind to see it. People do not see those opportunities because they never invest in their knowledge. You have money to make investment but why don't you have spre money for your education? Lack of knowledge will lead you to incur losses and the only one to cure it is to make an investment in yourself. The investment that you will do is not for short term only, but it can help you to achieve a lot of great things in life. So what are you doing now? Don't hesitate and make sure that you should invest in your mind. This is one of the greatest decision that you ever made.

3. RULES: Creating rules for yourself and following it is the next step. The reason why there are a lot of people who wants to be a trader and investor because of the FREEDOM that they can have when they are doing it. It is the freedom because there are no specific rules that they should follow. The know that they can buy whenever they want, they can trade whenver they want and they can make money whenevery they want but it doesn't mean that you will not experience lossses. This is where the rules will kick in, You should have rules on what type of investment you will make, when you will entry, what is your cut loss percentage, when you will sell, how much you will allocate and knowing if the RRR is good or not.

4. ACCEPTING THE RISK: You cannot be profitable if you do not know how to accept the risk, majority of people ignoring it and that is why they are keep losing. Be aware on how much money you can incur before the trade and in that way you can have an idea if the investment is worth it or not.

5. PLANNING : Do not just put your hard earned money on some investments or buy bitcoin immediately without having a solid plan, organized planning is what successful investors doing. They have steps that they are following because they trust that it is the best way to achieve their goals.

6. CONFIDENCE : Trust yourself, trust the plan that you created and do not ever hesitate, in this way you can perceive the market information correctly and you will not experience any fear, panic and many more negative emotions.

Discipline in the right magnitude is also needed, because one would face so many distractions and hurdles and is still expected to maintain the right investment mindset inorder to succeed.
When bills become too much one would have to find alternatives instead of dipping hands into the investment portfolio. Also, associating with like minded investors could aid ones prospect of becoming rich with investment.

[serjent05]

1. DESIRE:

Desire makes one motivated so I agree that in order to achieve things we must have desire to do it else, we can only be good in the beginning and give up when the going gets tough.

2. INVESTING ON MIND:

Getting knowledgeable on our investment is a must.  We cannot see the risk and the potentials if we don't educate ourselves on our venture.  This is one of the first thing we must do when we wanted ourselves to engaged in an investment venture.

3. RULES:

In investment we should have discipline thus there is a need to list certain rules to do and to avoid.  This will serve as our guide toward richness.

4. ACCEPTING THE RISK:

As the saying goes, no pain no glory.  Investment is always packaged with risk, engaging in investments means we are accepting the risk involved with it.  But it is not enough to just accept the risk.  We must mitigate the risk in order to make sure of our success in our investment venture.

[cheezcarls]

Exactly it is, straight to the point. Nothing here in the world of Bitcoin and crypto is gonna guarantee or promise us anything in terms of profits if you are expecting to be rich after investing.

The market is very unpredictable. Without warning, it can go up or down anytime even harder. See to it that you are well-equipped in managing your risks, especially when you do DCA (dollar-cost averaging) with Bitcoin.

Only spend an amount that you can afford to lose.

[taufik123]

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The market is very unpredictable. Without warning, it can go up or down anytime even harder. See to it that you are well-equipped in managing your risks, especially when you do DCA (dollar-cost averaging) with Bitcoin.

Only spend an amount that you can afford to lose.

Even now, the market is unpredictable because there will be some downturns that might be harder.
Bitcoin has not been able to stabilize at $30k and continues to fall to $27k.

Doing good management and using the DCA method is the right choice, but do it well and make sure to buy at the support price.
Using spare money that can afford to lose, is the choice that must be made.
Do not use money that is still needed for other needs, it will not be good for the long term.

[Bitcoin_people]

Investing in crypto requires having enough money to throw some money away for a period of time. Investing is easy for those who have excess money. And the amount they invest they don't need the money for the next investment. For which the money is held in the investment and the maximum profit comes from it in the future. But those of us with little money have to spend time investing and risking a lot. With the money we invest, we don't have any money for ourselves later, which makes it difficult for us to invest. But there are many advantages and disadvantages in Bitcoin investment so one has to invest very carefully in order to be successful. And investing should not lose patience but be patient and trust and confidence in investing is most important.

[landheer]

Hopefully your post is useful, especially for beginners who don't know about BTC investing.

what you say is true, that investing will not guarantee someone will get rich, but by investing in btc there will certainly be the potential to get rich, and many people have become rich as a result of investing in btc, for example people who buy btc at low prices and selling it at a high price.

and in my opinion the key to successful BTC investment is knowledge that must be prioritized, patience and so on.

[Gallar]

The majority of the investors and traders have misconception on investments because they think that they will easily become successful by putting their hard earned money in bitcoin and other assets without understanding that it is just the foundation and they need to work really hard and follow the other

It's true, investing in bitcoin or in other things does not guarantee someone to become a rich person. Because investing is not as easy as turning the palm of the hand. Careful calculations are needed before starting and when running it. Actually it's not just investing, in other things too, which includes the financial realm, if you think about it, nothing is sure to produce and make someone rich. Such as opening a business, opening services, and working (such as in factories, offices, or in the food sector)
Everything is not 100% certain that it will make money let alone make someone very rich. So actually it's not only in investment that you don't have certainty, but in other fields of work you also have the same point, namely you don't have certainty either.
In my opinion, thinking about profits is also really necessary, because in investing, having the motivation to get profits is very necessary. Because if there is no strong motivation, how can you have high enthusiasm to run the investment.

[Strongkored]

For me investing is a way to save my money from depreciating in the future due to inflation and if it turns out to be able to get me more than what I have saved in the long term then that is a good thing. Those who think investing to get rich are those who have received wrong information and are used to getting involved in online businesses that end up in scams like HYIPs or other types of investments that are not really investments.

Investments must be made in the right way, with the right knowledge, and also using money that we can afford to lose, because any investment will have a risk of loss, by realizing that we will be careful and only invest in definite forms.

[Wapfika]

They will not become easily successful just because they invested but they have a higher chance of being successful just because they have invested.

This is not wrong but this is also only right if the choice of investment is good. You can be rich or poor based on the investment choices. I think it’s fair to assume that you will have a chance to success rather than higher chance of success since there’s no guarantee on investment since loss is still possible.

they still have a personal responsibility of ensuring it becomes a success by following up closely. Just like planting a seed and tendering to it till it matures into a tree.

I believe this is more compatible on business investment rather pure investment on stock or crypto. You can’t do anything to help your investment successful aside from referring it to your friend but you are relying the fate of your investment to the team of the coins that you are holding.

[smile1218]

That is true, investing doesn't guarantee you to be rich. It is a misconception that investing in Bitcoin will automatically lead to a guaranteed profits. Many investors who lacks knowledge and understanding of the risks associated with investing, which can possibly leads to losses. To become a successful investor you need to have a strong desire to become rich, you should invest first in knowledge or do a proper research before investing your money, If you are ready to face to risks involve in investing and you feel you are ready enough then you can start to invest. You need also to plan investments carefully so that you will not regret it.

[Poker Player]

Investing does not guarantee you to get rich, but it makes it very likely, if we understand by "getting rich" the improvement of your economic situation, and we are talking about long-term investment.

It is even more likely within an overall personal finance plan, with a control of income and expenses, an emergency fund for unforeseen events and a diversification according to your knowledge and risk tolerance. With this, if we discount unlikely bad luck scenarios that make you need to dip into your saved and invested money, everyone improves their financial situation, or gets richer, if you prefer.

5. PLANNING

This is what you should really be having on your mind but actually all of those factors been mentioned on the op is really indeed that needed overall if you do really tend to engage with investment.

Yes, well, planning and then following the plan, there are people who make a lot of plans and then don't follow them, and that doesn't work.

[Sebas.tian]

4. ACCEPTING THE RISK: You cannot be profitable if you do not know how to accept the risk, majority of people ignoring it and that is why they are keep losing. Be aware on how much money you can incur before the trade and in that way you can have an idea if the investment is worth it or not.

Taking a risk in crypto investment is very important which it can lead you to your financial breakthrough if you carry out your personal research before investing because many potential investors that became wealthy today in the community took the risk that made them who they are today. You can take the risk by making Bitcoin your first choice to invest huge amount of money and apply long term holding to feel the benefits of taking such risk in the community which is favourable if you can hold like 3 or 4 years before you can sell. Now that the price of Bitcoin has increased to $27,754 showed that there is a hope for those that took the risk to invest in Bitcoin when the price was $18,000 last year.

[YUriy1991]

Those who are interested in investing are advised to invest as much money as you can afford to lose. This is a very big money risk. Because there are many chances of losing money. That is why the term risk-taking is associated with investment in this way. A certain amount of money, i.e. money that will not affect your finances if you lose it, should be risked.

Good response, Clearly with various considerations. I'm just adding this and I think this is just a small example in the world of trading, especially for beginners playing the short pattern. If the money to be used is not cold money but uses day-to-day operating money, I think 30% will be a burden again, especially during the current conditions and if it is very urgent someone will definitely cut losses. what happened was not a profit but a loss even if it persisted the point where he entered there was left out. Trading is a psychological game.