Self control cannot be neglected as an early investor

[cakravothy]

of course, investment requires a lot of self-control.
A gambler must also have self-control both when winning and losing so that profits can run continuously well. otherwise a gambler can lose all his assets. Likewise, with investment or trading self-control is certainly an important factor for success.

[Dailyscript]

It is true that having self-control helps you overcome any dilemma that comes when you are trying to invest in Bitcoin. As an early investor, it is necessary to prioritize self-control so that you will not make any mistakes in the process of investing. Some people are thrilled to sell off when the price of bitcoin makes an upward move without minding to understand if it is one of those times when bitcoin fluctuates so that people will jump in and then it drops. The same thing goes for buying. There are times when bitcoin will go down, making some people fearful, which leads them to panic sell. This is where self-control comes in; it helps give you time to analyze and calculate before you can get a solid conviction and then make your decision.

[Obim34]

What if you won the game after using the money for gambling, would you have insisted sitting it as a mistake or used the term lacking self control. It was which you felt was good and more profitable for you, which is not actually a good mentality as per arrangement have been made to invest in Bitcoin and not gambling. If you feel like gambling anytime, keep aside the money for gambling and any one for investment should not be tampered by any means.

[boty]

It is true that having self-control helps you overcome any dilemma that comes when you are trying to invest in Bitcoin. As an early investor, it is necessary to prioritize self-control so that you will not make any mistakes in the process of investing. Some people are thrilled to sell off when the price of bitcoin makes an upward move without minding to understand if it is one of those times when bitcoin fluctuates so that people will jump in and then it drops. The same thing goes for buying. There are times when bitcoin will go down, making some people fearful, which leads them to panic sell. This is where self-control comes in; it helps give you time to analyze and calculate before you can get a solid conviction and then make your decision.

When someone has just started investing, of course they have to be very careful and they should not do it greedily because it is very difficult to control themselves when they are greedy in investing, self-control in investing is really needed so that they don't make a mistake in deciding to sell or buy it. because if they don't do it calmly or in a hurry then it is very likely that they will make a mistake in the decision they make.

Those who panic when they see market prices going down, of course they don't understand well what they are doing, because if they had a good understanding of the investment they were making, of course they would take advantage of the opportunity to collect and hold it until they make a profit from that investment.

[aoluain]

It is not only applicable or not to be neglected even by old timers mate because this is an attitude
a trader/investor/gambler or any one in the world of money making must have because if you cannot control your
Emotions and mind then what waits you in profiteering? you will end up being a loser everytime because you cannot
manage your self in either seeking for more or selling for less in aid of desperation.

As most have pointed out, its easy to get side tracked and have a momentary lapse in the
DCA vision. I'm sure its happened to everyone, I include myself! Just look at it as a reward
for all the previous DCAing

The main thing is you can refocus, learn from mistakes and continue to DCA.

As leadt you can enjoy the game OP.

Learning is one step from Failing , we must not afraid to lose because this will thought us how
to be more vigilant and knowledgeable over the days.

Well as we say in my country sometimes "every day is a school day" meaning we learn
something every day. Its important to be able to identify a mistake and remember to
not duplicate those mistakes.

and in the end of the day according to the OP there is no serious harm done, onwards
and upwards!

[South Park]

I just started DCAING into bitcoin some months ago with the purpose of becoming a long term holder, I've got my funds in place, I've done my cashflow check up, I've started building my emergency funds, I'm following all the rules that I think I need to follow to reach my goals as long term holder. But guess what happened yesterday?.
I used the money I was supposed to use to lump sum into bitcoin to buy a game. Lame right, very lame. While a lot of persons would talk down on me right now about this cause I know I've messed up and was supposed to say no to that urge to just spend more. Although I've replaced it today with a lot of hard work. I've learnt a lesson. To succeed as an investor you must have self control. I had every reason to say no to the urge to get a game but I didn't. I lacked self control to say no myself and do the right thing.
If anyone must achieve any desire in life, he must have the self control to control his lists cause here I am burning with desire to accumulate bitcoin and this same me went ahead to forfeit it for a game. All I know is I'm never gonna make this same mistake again.

The truth is this is one of the main causes why most people will never reach their dreams, spending our money has never been easier, and not only that, we have almost an unlimited amount of goods in which we can spend our money, so most people find it very difficult to save any money at the end of the month, and then they will tell themselves that next month they will save some and begin their journey, only for the same to happen again and again, and then they will find themselves decades later with the same goals but having made no progress at all.

[Volimack]

I just started DCAING into bitcoin some months ago with the purpose of becoming a long term holder, I've got my funds in place, I've done my cashflow check up, I've started building my emergency funds, I'm following all the rules that I think I need to follow to reach my goals as long term holder. But guess what happened yesterday?.
I used the money I was supposed to use to lump sum into bitcoin to buy a game. Lame right, very lame. While a lot of persons would talk down on me right now about this cause I know I've messed up and was supposed to say no to that urge to just spend more. Although I've replaced it today with a lot of hard work. I've learnt a lesson. To succeed as an investor you must have self control. I had every reason to say no to the urge to get a game but I didn't. I lacked self control to say no myself and do the right thing.
If anyone must achieve any desire in life, he must have the self control to control his lists cause here I am burning with desire to accumulate bitcoin and this same me went ahead to forfeit it for a game. All I know is I'm never gonna make this same mistake again.

There is no substitute for self-control to do anything in life. It's your own mistake gambling and investing are not the same thing. It's okay to work hard but have no idea if you can win the game that you have spent money on. But if you had invested in bitcoin you would have got a good double profit after some time. It is better to keep gambling money separate if you combine it with investment you will not be successful in the end.

[Sim_card]

If anyone must achieve any desire in life, he must have the self control to control his lists cause here I am burning with desire to accumulate bitcoin and this same me went ahead to forfeit it for a game. All I know is I'm never gonna make this same mistake again.

Not just self control but the person must also have discipline so that he can stay focus on achieving his goal and wouldn't be distracted by unnecessary desires. To be a long term holder is not easy and this is one of the challenge, that you will face. I don't understand you OP, by saying that you have replaced the money within one day. Is it a small game, I guess because if it was to be a Play Station 5, I don't think that you will be happy with your actions because you wouldn't be able to replace it easily. Stay focus on your bitcoin target with regular DCA weekly or monthly, and don't get distracted again because you might make a decision that might lead to your regret.

[iamsange]

There is no substitute for self-control to do anything in life. It's your own mistake gambling and investing are not the same thing. It's okay to work hard but have no idea if you can win the game that you have spent money on. But if you had invested in bitcoin you would have got a good double profit after some time. It is better to keep gambling money separate if you combine it with investment you will not be successful in the end.

I also quite agree if someone or everyone wants to separate gambling money from investment money because these are two different sectors that both require basic capital to run them. However, what needs to be understood here is that the two are not the same, so I also think that the best option for the OP is to separate his gambling capital from his investment capital so that he can easily see which sector can make him win and get the profit he hopes for.

Investing is a job that is very common and also so good that it has been done by almost everyone in the world with very different asset choices. Although in the crypto space itself the best choice is Bitcoin and that can be the choice of many people at any time, while gambling is a temporary thing that is only used by some people to have fun even if they lose. Because if someone wants to look for a more logical and more certain profit, of course not in gambling, but in Bitcoin investment which has generally been proven to be very good.

[michellee]

It seems like you are already tempted to buy games with money that you should use to invest in Bitcoin. That's okay @OP, it's normal. You don't need to be sad because you can start collecting money again. You still have time to continue your investment in Bitcoin.

There are many other temptations that you may encounter later in your journey as an investor. But if you have good self-control and still want to become a Bitcoin investor, you won't be tempted by anything. The money you have prepared will be used to invest in Bitcoin.

And in investing in Bitcoin, we sacrifice our desire to be able to collect the money to buy Bitcoin. It won't be forever because there will be a time for you to get a profit from your investment. And when that happens, you can even buy many things you want. I'm glad you remain committed to being a Bitcoin investor and sticking to your plan to accumulate more Bitcoins.

[el kaka22]

Reaching to a point where you are sort of like doing it automatically and not really trading based on your emotions or you thoughts is the key. People who are amazing traders do not even "think" when they react, they are like a machine, they just trade when it hits where it should hit. This of course can't be reached in a single day, you can't just make that happen, there is no way that you would be making that kind of income right off the bat. So, what should you do?

You should first learn how to trade, all about TA and so forth, all indicators, levels, walls, everything and then you should start trading with money you can afford to lose. You will realize that, after a while, it will become a second nature to you and you will make good profit.

[Yaunfitda]

I just started DCAING into bitcoin some months ago with the purpose of becoming a long term holder, I've got my funds in place, I've done my cashflow check up, I've started building my emergency funds, I'm following all the rules that I think I need to follow to reach my goals as long term holder. But guess what happened yesterday?.
I used the money I was supposed to use to lump sum into bitcoin to buy a game. Lame right, very lame. While a lot of persons would talk down on me right now about this cause I know I've messed up and was supposed to say no to that urge to just spend more. Although I've replaced it today with a lot of hard work. I've learnt a lesson. To succeed as an investor you must have self control. I had every reason to say no to the urge to get a game but I didn't. I lacked self control to say no myself and do the right thing.
If anyone must achieve any desire in life, he must have the self control to control his lists cause here I am burning with desire to accumulate bitcoin and this same me went ahead to forfeit it for a game. All I know is I'm never gonna make this same mistake again.

Did you sell all the bitcoins that you have slowly accumulating? Doesn't make sense though, I mean how much have you accumulate for months though? No need to answer if you don't want to. And I think you have to re-learn a lot of things being a supposedly long term holder because obviously you have done a mistake. Anyhow, if you really learn from it, it's not about emotions, it's about priority. Is that your priority in life, to save and buy that game? And if you are really here for the long term, and that is your goal, I doubt that you can simply dump your Bitcoin in the worst situation as the market is going into a correction just to buy those games because you want it. So again, re-tool yourself, if might not be the end of everything, there are still light in the tunnel so back to zero to you and invest again.

[EluguHcman]

Normally, it is easier to say than to act. You digressed on purchasing and accumulating of Bitcoin and hodl for a long-term investment and yeah, you were able to had saved up the capital to kickstart your Bitcoin journey but you forfeited the plans for a mere liability game that is typically just for fun.
And here you are, restrategizing, harmonizing with all sorts of regrets and claiming that you have learnt your mistakes and have decided to restrategise in other to make your dream of long-term Bitcoin investments a reality.
I wish you well dear Bitcoin potential investor but I must tell you this that "it is not done yet until it is done" and so, your inability to take control of your emotions is not over yet until it is over.
You must take it a quest of challenge and determination if you make successful meet up with you goals in life.
Once again, it is easier to say than to act. Be determined a d stay courageous dear.

[|MINER|]

Self control can never be lost in trading and it is far from being neglected. But it is true that many of us adopt the strategy of holding bitcoins for long term using DCA method but later due to various reasons he neglects his small investments and later calculates that he has made a big mistake. Because chances don't always come. So we all should realize by ourselves that losing control and neglecting investment is a big mistake.

[hatshepsut93]

AAA games these days cost $60-70 - if such deviation from your plan is big enough to cause concerns, you have a much bigger problem. You need money to make money, $60 or $100 is not enough to realistically turn you into a millionaire. Yes, it was the case in the past when someone who bought BTC for $3 and sold for $60k is not crazy rich, but Bitcoin will not go from $40k to tens of millions, there is no chance it will happen for many fundamental reasons. So you need to be making a lot more money to earn decent profits from Bitcoin investment.

[EarnOnVictor]

of course, investment requires a lot of self-control.
A gambler must also have self-control both when winning and losing so that profits can run continuously well. otherwise a gambler can lose all his assets. Likewise, with investment or trading self-control is certainly an important factor for success.

Loose guard in any risky investment and gambling and find yourself to blame. Since they are risky, then they are such that need our knowledge, they need our skills and expertise and also our balanced psychology. One should be smart, especially in investment, and recently, I discovered that one shouldn't just make a decision in trading and investment, but first conclude on the idea, digest it, and deliberate on it before making that decision. This is to avoid making the wrong call. Even when the decision is actively known, one should further query the decision to ensure whether or not it will be good and not deceptive. Unfortunately, people do otherwise in most cases, they are too hasty to make trading decisions and will not even be applying the right management to reduce the bad effects of their excesses.

Yet, you can help yourself in this regard if you can be experienced and disciplined with it as you can't just be doing a thing wrongly and expect the best from it even if you are the most disciplined about it. However, discipline will help anyone to have the strong mindset to say no to wrong approaches/decisions, especially if they do not align with your trading system and plans. But it is so good in thought than in practice, which is why everyone must ensure that they are determined to control themselves. By this, you do not get carried away by what you see whether it is profit since you can gain more or less, a self-control will help you make an informed decision. And since you can either be back in profit if your decision is good or liquidate the position if you fail the Yes when you query yourself about the decision you made, one needs to control their thought towards trading. Meaning you might have done something wrong if you fail the Yes and the best thing is to liquidate at that very time you fail the self-query test. That is one of the good ways to exercise self-control, even in positions.

[CageMabok]

What if you won the game after using the money for gambling, would you have insisted sitting it as a mistake or used the term lacking self control. It was which you felt was good and more profitable for you, which is not actually a good mentality as per arrangement have been made to invest in Bitcoin and not gambling. If you feel like gambling anytime, keep aside the money for gambling and any one for investment should not be tampered by any means.

I also quite like to set aside money when I want to gamble because on the one hand I also don't want to disturb my investment money in Bitcoin. I think what you say is very true because basically investing and gambling are two different things so it is necessary to set aside money for each place so that someone can easily control it themselves when doing both simultaneously. And if someone can be very addicted to both of them, I don't think that's wrong as long as they don't bother each other with the money they each have set aside.

[Farma]

When someone has just started investing, of course they have to be very careful and they should not do it greedily because it is very difficult to control themselves when they are greedy in investing, self-control in investing is really needed so that they don't make a mistake in deciding to sell or buy it. because if they don't do it calmly or in a hurry then it is very likely that they will make a mistake in the decision they make.

Those who panic when they see market prices going down, of course they don't understand well what they are doing, because if they had a good understanding of the investment they were making, of course they would take advantage of the opportunity to collect and hold it until they make a profit from that investment.

There is a lot of knowledge that must be learned before starting to invest, including self-control which is also very important to avoid things that you don't want.
In theory, investing requires speculation about what will happen in the future and of course in investing we do a lot of research until finally there is a plan for the future that we determine for profit making, but this cannot be carried out or does not run smoothly if there is no control. whether it's greed or panic, basically control is important and that is included in the things that must be controlled or studied before making an investment.

[Alpha Marine]

Only a few people have mastered the art of self-control. A lot of people might scream that you're indiscipline and all, but the truth is we all fall into these types of urges in several ways.
Yours was a game, for some, it's a vacation, phone or laptop an expensive dinner date, etc.
It isn't just about Bitcoin investments, it's everything. It could be when you saving money for something. All we have to do is keep disciplining ourselves and learning as we go.
It's okay that you have learned from this experience as that's the main point about life. We should always learn from every experience in life.

[LogitechMouse]

But guess what happened yesterday?.
I used the money I was supposed to use to lump sum into bitcoin to buy a game. Lame right, very lame. While a lot of persons would talk down on me right now about this cause I know I've messed up and was supposed to say no to that urge to just spend more. Although I've replaced it today with a lot of hard work. I've learnt a lesson. To succeed as an investor you must have self control. I had every reason to say no to the urge to get a game but I didn't. I lacked self control to say no myself and do the right thing.

I'll guess it's PALWORLD right? Just kidding.

TBH, there's nothing wrong with rewarding yourself with something that you want as long as no one will get affected when you do it. In this case, it's your investment that is affected. How much is that game that you bought? Is the amount of money that you use a huge chunk of the supposed money that you will be using to buy Bitcoin? If that's the case then I guess change something about it.

It's good that you already replaced that money. Having self-control doesn't mean that you will not buy the things that you want. At the end of the day, it's all about balancing which ones you want to buy, and which you want to. It all comes down to your priorities. If you're enjoying with that game you bought then I guess there's nothing wrong with it.

Overall, having self-control is a good trait, but don't come to a point where you will not reward yourself when you do something good. Just balance it.