Self control cannot be neglected as an early investor

[lombok]

The OP must be disciplined and really not disturb the allocation that should be intended for long-term investment. After reading the OP's thread with thoroughness and planning, which in my opinion is mature, all that remains is to apply discipline and not disturb what has been determined. The challenge of an investor is boredom in routine, this is real. And I was not spared from these actions and often made mistakes in holding.

Maybe this can be a good lesson for the OP to be firm and stronger in carrying out the plan. I hope that the OP will return to the original plan.

[Odusko]

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 most important thing is to understand your mistake and make a decision not to do that again. The decision should not be an empty promise to oneself but that which is backed by an action. Some people after making such mistake and identify it, they still go back to it.

Mistakes are inevitable and the good thing is that, we always learn lesson from making those mistakes and the lesson becomes what come out with you as experience,  many market speculators thinks that mistakes are negstive aspect rhst don't have any potential gain for their victims, but I have learned with time that, most times, what protects us and our interest the most is to take caution and lessons from our past mistakes and making sure that we never repeat such mistakes again and also using that experienced to make future gains and profits.

[GeorgeJohn]

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.

I don't have anything to tell you concerning this stuff because holding a bitcoin for long time it will profit you when the market is very but if the market is a in a bullish it will also profit you for long-term investment instead of short time investment so therefore our encourage all my people to hold a bitcoin when the price is low and Allow it to accelerate high before you can say so that profit manifest one

[jasonjm]

Self-control and discipline are the two key elements of investment. Many new investors are looking for a quick profit and do not want to learn anything about the workings of the crypto market. Go for Bitcoin investment for the long term because it is more profitable; look at the ROI since 2013.
As a newbie, you should learn to control your emotions in trading and investment. Stay away from shit meme coins because you might lose your investment. Invest only in BTC and ETH for the time being. Explore the market and analyse different options before investment.

[Mpamaegbu]

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.

It's good to know that you've gone back to your initial plan of staying on Bitcoin by readjusting your priority. You don't place your harvest season in your sowing season. You invest now for tomorrow's financial gratuity and satisfaction. That's what every investor aims at. Don't let immediate gratification distract you from your goal.

Again, I won't disparage anyone for taking out their savings to get themselves some vanities that make them happy without investing it. It's their choice to make. Your money and your choice, and hopefully your story isn't a fairytale.

[Dailyscript]

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 most important thing is to understand your mistake and make a decision not to do that again. The decision should not be an empty promise to oneself but that which is backed by an action. Some people after making such mistake and identify it, they still go back to it.

Mistakes are inevitable and the good thing is that, we always learn lesson from making those mistakes and the lesson becomes what come out with you as experience,  many market speculators thinks that mistakes are negstive aspect rhst don't have any potential gain for their victims, but I have learned with time that, most times, what protects us and our interest the most is to take caution and lessons from our past mistakes and making sure that we never repeat such mistakes again and also using that experienced to make future gains and profits.

Yeah, but people still lack the ability to learn from their mistakes. After all my mistakes in the past, I came to the conclusion that a big bag of wealth could be realized if we bought and hoarded the right assets. Bitcoin has proven to be one of those special assets with unique returns on investment. So it should be wise to start investing in bitcoin since we all believe it is the future.

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.

I don't have anything to tell you concerning this stuff because holding a bitcoin for long time it will profit you when the market is very but if the market is a in a bullish it will also profit you for long-term investment instead of short time investment so therefore our encourage all my people to hold a bitcoin when the price is low and Allow it to accelerate high before you can say so that profit manifest one

You are encouraging people to wait until the price dips before they start holding. Dont forget that any price of bitcoin can be the dip and anytime is a good time to buy. Imagine bitcoin at 42k now and the price went up to about 57k without coming below 42k, do you know that at 42k will be considered as a dip if it mived from that 57k it reached and retrace to 42k.

[rodskee]

Self-control and discipline are the two key elements of investment. Many new investors are looking for a quick profit and do not want to learn anything about the workings of the crypto market.

but they are almost the same because once your are disciplined person then you are also has
self control and that is why they are working the same.

Go for Bitcoin investment for the long term because it is more profitable; look at the ROI since 2013.

well that is already given , if you support bitcoin for long time then you are already profiting now.

As a newbie, you should learn to control your emotions in trading and investment. Stay away from shit meme coins because you might lose your investment. Invest only in BTC and ETH for the time being. Explore the market and analyse different options before investment.

stay away from Pump and dump , specially meme coins and many shitcoins or else just trust bitcoin.

[Yamifoud]

Whatever we do, having self-control is quite important. Many people not just in the investing industry have failed but also in others like businesses because of the lack of control and planned activities will certainly lead to major losses and failures. Keep in mind that every single mistake we make has something that ends with bad results. Therefore, it is a need for us to think several times before proceeding to what we think. Failure is not a thing to be afraid of but avoiding them is necessary if we know that there is a way. We can't think right if we never fail, so let us accept that this is gonna happen in real life.

[teamsherry]

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.

I guess OP you should have already built up emergency funds or have reserves or extra cash that you could use for your expenses, touching your investment money is not very wise of you, its true that we can often get off track due to distractions expecially when you haven't built enough discipline as a early investor.
They are few books I could recommend to you if you find this as an issue.

Brian Tracy no excuses, discipline is everything 🙌

[edy_58]

Whatever we do, having self-control is quite important. Many people not just in the investing industry have failed but also in others like businesses because of the lack of control and planned activities will certainly lead to major losses and failures. Keep in mind that every single mistake we make has something that ends with bad results. Therefore, it is a need for us to think several times before proceeding to what we think. Failure is not a thing to be afraid of but avoiding them is necessary if we know that there is a way. We can't think right if we never fail, so let us accept that this is gonna happen in real life.

Yes, those who cannot control themselves in investment and business will do it greedily and not based on the knowledge they have. If they decide on a decision in investment or business they must of course study carefully the risks they will get if they decide something. and they must be able to overcome the possible risks they will face, but if we do this without being able to control ourselves, of course we will make decisions in a hurry and not think about the risks that will occur after making that decision.

Failure is not something to be afraid of, but we must be able to learn from the failures we have experienced and also correct these failures so that we don't do the same thing again in making every decision.

[bitterguy28]

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.

Learning from experiences , everyone made a mistake for how many times but doing the same mistake is stupidity and not to be in the line of me and yours. and don't worry mate we are going to taste the sweetness of victory and we must be ready now and tomorrow.

Whatever we do, having self-control is quite important. Many people not just in the investing industry have failed but also in others like businesses because of the lack of control and planned activities will certainly lead to major losses and failures. Keep in mind that every single mistake we make has something that ends with bad results. Therefore, it is a need for us to think several times before proceeding to what we think. Failure is not a thing to be afraid of but avoiding them is necessary if we know that there is a way. We can't think right if we never fail, so let us accept that this is gonna happen in real life.

in the market or even in gambling or in life , we are in need to have self control .

[ShowOff]

-

Learning from experiences , everyone made a mistake for how many times but doing the same mistake is stupidity and not to be in the line of me and yours. and don't worry mate we are going to taste the sweetness of victory and we must be ready now and tomorrow.

Basically you don't have to make mistakes until you get better, but you are right that learning from mistakes is the best way to recover. What you need to do is keep trying and improving your abilities, that also means you have to keep learn and learn. Making the same mistakes is something that needs to be avoided, but not everyone is able to avoid it.

in the market or even in gambling or in life , we are in need to have self control .

Self-control is part of psychology, every trader, investor or gambler must have it.

[justdimin]

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 nothing wrong with treating yourself or your family with a little something now and then, so I wouldn't call that a mistake and something you should have remorse about. I know you might feel bad that you didn't buy more Bitcoin with the money but it's okay, since you've been doing DCA, you can do that again when you have the funds. You don't need to stop living your life just so that you can accumulate more Bitcoin, just invest what you can afford to do, don't neglect other needs and desires, and put all your money into one place.

Making investments and preparing yourself for the future is a good thing, but we also need to make sure that we are not forgetting to enjoy our lives when doing that. If you have a family, you also need to make sure that they are happy while you do all these things. You shouldn't use the money that is supposed to be used for the family to buy Bitcoin because it's not worth it, believe me.

[_BlackStar]

-snip-

Making investments and preparing yourself for the future is a good thing, but we also need to make sure that we are not forgetting to enjoy our lives when doing that. If you have a family, you also need to make sure that they are happy while you do all these things. You shouldn't use the money that is supposed to be used for the family to buy Bitcoin because it's not worth it, believe me.

Trust me - when you have everything but you don't enjoy it, then you are just people who forget to be grateful. Many people forget how they can enjoy life - while they have lots of money and investment assets. Focusing too much on the future is not entirely good - but it all requires a balance between the future and enjoying it now.

Some of us may be willing to endure hunger just to prepare for a better future - but that is not the best way. The future certainly needs to be prepared - but that doesn't mean we have to sacrifice many of the things we need to get today.

[Wiwo]

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.

It's good to know that you've gone back to your initial plan of staying on Bitcoin by readjusting your priority. You don't place your harvest season in your sowing season. You invest now for tomorrow's financial gratuity and satisfaction. That's what every investor aims at. Don't let immediate gratification distract you from your goal.

Again, I won't disparage anyone for taking out their savings to get themselves some vanities that make them happy without investing it. It's their choice to make. Your money and your choice, and hopefully your story isn't a fairytale.

Many who got into cryptocurrency recently let say since the 2017 bull run has come in with the expectation to get quick profits,  and at that,  the focus was on altcoins since the belief that altcoins will give them such gains within a short term,  this has to lead many of them into investing in the wrong coin and at some point also making some regrettable decisions that have affected their capital for both long term and short term investment.

And only after they bad experience, did they their realise that Bitcoin is the only most suitable investment as far as long-term goals are concerned.

[South Park]

Many who got into cryptocurrency recently let say since the 2017 bull run has come in with the expectation to get quick profits,  and at that,  the focus was on altcoins since the belief that altcoins will give them such gains within a short term,  this has to lead many of them into investing in the wrong coin and at some point also making some regrettable decisions that have affected their capital for both long term and short term investment.

And only after they bad experience, did they their realise that Bitcoin is the only most suitable investment as far as long-term goals are concerned.

This is ironic to say the least, if those people had decided to go for the method that they considered to be too slow at the time and they invested in bitcoin and kept holding it, right now the profits they could have accumulated would be huge, and instead many years later they are still worrying about which altcoin to buy, as if they did not bought bitcoin back in those days when it was so cheap, for sure they are not buying it now that it is way more expensive.

[Mate2237]

Why must you set an emergency funds when you are not even financially buoyant. Now you collapsed with even the emergency funds, lolz. That is bad plan. Well I will not blame you because I don't know the magnitude of the problem that came up for you to use your investment to solve the issue. Well we also thank God that you have finally replaced it again but don't do that mistake again and please don't set emergency funds if you are not doing something to back your investment because you will definitely touch the investment again.

I wish you all the best in the bitcoin investment journey.

[jaberwock]

Whatever we do, having self-control is quite important. Many people not just in the investing industry have failed but also in others like businesses because of the lack of control and planned activities will certainly lead to major losses and failures. Keep in mind that every single mistake we make has something that ends with bad results. Therefore, it is a need for us to think several times before proceeding to what we think. Failure is not a thing to be afraid of but avoiding them is necessary if we know that there is a way. We can't think right if we never fail, so let us accept that this is gonna happen in real life.

This is quite true, not everyone is made for these type of investments and that is why we see them not do all that well. I believe that the best thing we could do right now would be just focusing on how we could improve that type of income, and that means we need to reach to a point where we could make some returns, and easily enough, that will not be all that quick.

We have one path forward which "guarantees" us profit, which is buying and holding as long as we have to and most people fail to do that which causes them to lose money. If you fail to do that then maybe it is a bit your own fault that you didn't get to make any profit from crypto because people gave you basically the roadmap to get rich and you still declined to take it.

[Captain Corporate]

Learning how to manipulate your own feelings could sound a little bit tough to handle but that is how the market works and there is really nothing you can do with your emotions. We should consider the possibility that it will not be possible to make money by following our emotions, so we should consider trying to ignore the feelings and instead we should be checking the factual stuff, like data and charts and indicators. That way we would be able to actually make some money, and it would not be all that confusing because each time they would give the same results to everyone. When you do that, it will definitely create some sort of greater return and it will give you some decent profit in the end.

[AakZaki]

This is ironic to say the least, if those people had decided to go for the method that they considered to be too slow at the time and they invested in bitcoin and kept holding it, right now the profits they could have accumulated would be huge, and instead many years later they are still worrying about which altcoin to buy, as if they did not bought bitcoin back in those days when it was so cheap, for sure they are not buying it now that it is way more expensive.

Those who are not sure about Bitcoin will continue to think that the current price of Bitcoin is more expensive, even though seeing how the last ATH has not yet been reached.
There will be no chance for people who always think the current price is expensive, even when the price can drop to below $20k they still say it is expensive. they will only regret the nonsense they did when they see the price of Bitcoin rising quite drastically and consistently.