In order to reach your target, don't rush!

[NotATether]

Advice which is not just financial but applies to everything business related and even outside business, but we are going to be looking at this from a business standpoint as opposed to just financial.

Let's say that you're selling something online, and you have a supply chain to get the product ready and assembled for you, when all of a sudden, one of the supplies you use is in short stock. Restocking it will be very expensive because its price has gone up, but there is a bigger demand for your products. However, you do know that the price of the supply will go down if you just wait, but you may run out of inventory before then, but you don't know if you will.

Let's say you panic, and make a large order for the supply. Then all of a sudden, for unrelated reasons outside of your control, your sales tank. Now you are stuck with a giant amount of supplies that you can't offload, because product sales have slumped.

On the other hand, lets say you wait, and the prices either go down by themselves or you manage to find a special discount deal. So you turn out to be just fine.

It's the same no matter if you are trading crypto, doing a business with crypto, selling stuff for crypto, etc.

Anyway I just thought I might share this with you, because panicking and rushing to do something can be costly sometimes.

[Oshosondy]

Rushing is one of the reasons people lose in trading. They want to rush in money making.

Let us say you have $2500. Why trading all if that is all your money. Using $500 or less is enough.

Do not use more than 1x leverage

If you will use averaging, it is better. You can start the position at 0.2x and end it with 1.5x for altcoins or 2.5x for bitcoin.

Analyses and indicators are necessary

Money management is necessary

[Churchillvv]

~Snip~

Perhaps you're correct, but let's also think rationally.

How about this phrase "Desperate times calls for desperate measures" ? Don't you think it applies too? For instance you got a lot of demand but the demand is measurable to an extent which means you can order or buy for the exact quantity you need as if waited for some little more time you could loss more. But the only disadvantage here is cost effect. I also think you one can take the risk and buy.

Let's apply this to the crypto market for someone like me who's holding and not trade, I believe in times where your income is not stipulated or solidify hence you receive a payment that you might use for other important stuff if you wait for an additional time to buy but if you buy even with the cost effect it will save you from not buying at all. So I think rationale should be put into considerations too, discount is good but when you have to buy in order not to loss everything then you should take the risk. I know the crypto market is quite different from real life market but it's more similar.

Let's discuss

[Zaguru12]

Let's apply this to the crypto market for someone like me who's holding and not trade, I believe in times where your income is not stipulated or solidify hence you receive a payment that you might use for other important stuff if you wait for an additional time to buy but if you buy even with the cost effect it will save you from not buying at all. So I think rationale should be put into considerations too, discount is good but when you have to buy in order not to loss everything then you should take the risk. I know the crypto market is quite different from real life market but it's more similar.

This is a bit different from what OP was talking about, you buying in crypto market no matter the price of it you know that it will actually rise (discussion centered on bitcoin) and since you have money on you, you buy even of the price is fluctuating because you know it will increase in the due time and you take your profits. Even with this certainty you actually applied the cautionary measure of using funds you can afford to lose. Had it been other Altcoins you will have wait for a price fall rather than buying the pump.

In the example above, the OP stated that the supply was definitely going to drop but the question was when, but still going in was more of a risk that shouldn’t be rushed into. No sales at all is better than selling in loss.

Let's say you panic, and make a large order for the supply. Then all of a sudden, for unrelated reasons outside of your control, your sales tank. Now you are stuck with a giant amount of supplies that you can't offload, because product sales have slumped.

On the other hand, lets say you wait, and the prices either go down by themselves or you manage to find a special discount deal. So you turn out to be just fine.

In a situation like this you’re definitely sure that the supply price  will reduce In due time but don’t know when and also not knowing the exact time your inventory would drop or finish, as someone who wouldn’t want to lose his customers at this time it is best to simply go in for a little supply that you can bear the risk or wait for the supply price drop leaning to the remain inventory

[logfiles]

How about this phrase "Desperate times calls for desperate measures" ? Don't you think it applies too?

That phrase usually works if it's a do or die.... if you completely have no choice. In trading, you always have a choice 

<...>

In other words, do not buy due to FOMO or panic sell if you are a long term hodler. Patience is key at times depending on your strategy. Above all i think the one of the biggest players in trading is risk management. Any form of trades we make are a huge risk. The question is how do we manage the risk if things go south.

[jrrsparkles]

Traders often click the panic sell in desperation when they see price falling while one who is experienced will look it as an opportunity to make more profitable. We should be able to think clearly in high pressure situation for that we need clear vision of what we are trying to achieve.

To ease things for traders always choose the less risky trading method which is spot long term trading any other method is risky.

[mindrust]

Most traders are not aware of the existence of risk management. That's their biggest mistake. When you are managing big money, you should decide the risk levels for each investment in your portfolio. I guess I don't need to tell you that it is super stupid to go all in in one asset, or do I? Many people don't even have this basic sense when they are making investments or trading. Having a diversified portfolio is wonderful. All you need to pick "good" assets and avoid the "bad" ones so you can add more when they go cheaper. If you invest in a bad asset, you'll sell it as it goes down which is the quickest way to lose money.

[crwth]

Well, it's pretty basic what you are trying to say. I think I understand what your approach is.

• Don't FOMO - Because there might be problems with the supply
• Panic buying can produce problems in the supply.

I believe that's what happens if you decide to go with the flow. You need to approach it in a different light.

[Dunamisx]

It's the same no matter if you are trading crypto, doing a business with crypto, selling stuff for crypto, etc.

Anyway I just thought I might share this with you, because panicking and rushing to do something can be costly sometimes.

When we rush to do things, then it's obvious that we are going to garbage in as well as garbage out of it, but in other for us to avoid making some costly mistakes, we need to make sure that we try every possible means to ensure we don't give room to what may led to having such, and this is why it is necessary for us not to rush in making decisions upon whatsoever thing we are doing concerning crypto.

[milewilda]

-0snip-

When dealing up something like business or investment then any act of rushness or having that kind of impulsive buying or accumulation just because you've been able to see that theres a surge of demand but
ended up on having that tons of supplies just because the sales had plummetted for whatever reason it would be resulting into that kind of situatio on which we know that we dont really like for it to happen.
Rushing up would always be ended up on having that possible disaster.Although there would really be those unexpected or sudden things that do happen no matter how careful we are but still it would really be
that d ifferent when you do really have that kind of assessment on things on which you should be careful and well planned rather than on making yourself that rushing up into things into different
ways or methods just because you do believe that you could make easy money with it.

[macson]

Many people still can't differentiate between finding the right time and being in a hurry. Most people lose money in trading because they are in a hurry, they are impatient, they are confused and just want to chase instant things.

in trading.. skills and patience are really needed, those who are impatient will definitely suffer big losses because they are not on time, here i see that people who are patient when trading definitely have good profits compared to those who are impatient, training yourself not to rush is actually quite enough easy, it's just that many still prioritize their greed.

[stadus]

How about this phrase "Desperate times calls for desperate measures" ? Don't you think it applies too?

That phrase usually works if it's a do or die.... if you completely have no choice. In trading, you always have a choice  

<...>

In other words, do not buy due to FOMO or panic sell if you are a long term hodler. Patience is key at times depending on your strategy. Above all i think the one of the biggest players in trading is risk management. Any form of trades we make are a huge risk. The question is how do we manage the risk if things go south.

Trading is a long term preparation, so you need not to rush in your decision to trade but rather always stick to your plan. Buy when you know the price is right, not when you want to ride a hype. Sell when you think there’s a need to sell, especially if you are seeing impressive profits, but never sell due to panic and pressure. If you can follow that, you will never end up such consequences in trading, but will probably experience high profitability instead.

[Alphakilo]

Patience with your trading journey.

You learn it the easy way or through failure and loss forces you to learn it. I used to think that being patient is about sitting and doing nothing but that is not so.

A trader can reevaluate, strategize their trading methods. Patiences is a difficulty thing to have and when you get it right, you will see that your patience paid off.

Patience as a trader also learning and getting good at your job. Nobody started trading to fail, therefore, get patient. Impatience leads to impulse buying by the trader where they shouldn't have.

[Cryptomultiplier]

To panic in the face of pending calamity is the first death to be suffered, before the calamity actually happens.
That's why those with military training or lived in military environment understand that being calm and calculated in the face of danger or pending calamity is not a guarantee that one goes down, but such situations can be turned around to good benefits, only if one remains as calm and calculated as possible.

Slow and steady also wins the race as many folk tales would conclude saying and when it involves trading or financial management or business, one should learn to sit back and relax while letting things play out positively, mostly when losses has been incurred or in the process of being incurred.

[batang_bitcoin]

I agree and thank you for reminding everyone. Mostly, this is for everybody but I'd take note that this advise will directly hit the newbies out there. Before diving into the market, they're in a hurry that they're going to be rich investing their twenty bucks to meme coins. Well, if they are fortunate then it will grow that much but don't get hyped with social media posts that you see that someone who invests little and then they're able to earn that a lot, it takes patience to see results and if you're not willing to go extra miles, you'd just see the beginning of your crypto investing journey but not the end of it. And the same goes for the market, these corrections have to happen but it won't be staying at the bottom forever and the same goes when it's already up and bull run.

[mirakal]

Traders often click the panic sell in desperation when they see price falling while one who is experienced will look it as an opportunity to make more profitable. We should be able to think clearly in high pressure situation for that we need clear vision of what we are trying to achieve.

To ease things for traders always choose the less risky trading method which is spot long term trading any other method is risky.

It’s normal to see traders get desperate and disappointed with how btc price moves since it’s hard for us to hide our emotions in situations like this. However, don’t get carried away with your emotions and reach the point of selling your coins. That will only waste your time and efforts when you are hodling, and would definitely make you lose from your investment.

Don’t rush in making profits but focus more on your goal why you are here in the first place. Everyone is affected with how bitcoin price drops drastically, but let’s just stop there and chose to be more patient while waiting for bitcoin to finally reach its new all time high.

[hd49728]

It’s normal to see traders get desperate and disappointed with how btc price moves since it’s hard for us to hide our emotions in situations like this. However, don’t get carried away with your emotions and reach the point of selling your coins. That will only waste your time and efforts when you are hodling, and would definitely make you lose from your investment.

As human, with pressure to get profit or stress of risk of liquidation, we as traders can feel very stressful when market becomes too volatile and we have bad opened positions with temporary big losses or high risk of margin calls.

If we only use Spot trading, stress will be less and it will be better for our mental health and our trading position too. Risk is smaller to trade Bitcoin but risk is bigger to trade altcoins.

Don’t rush in making profits but focus more on your goal why you are here in the first place. Everyone is affected with how bitcoin price drops drastically, but let’s just stop there and chose to be more patient while waiting for bitcoin to finally reach its new all time high.

Holding patiently for a long time, will help us to feel more calm against market volatile movements, both short squeezes and long squeezes, and can help us to gain better profit and ROI too.

[wxa7115]

Rushing is one of the reasons people lose in trading. They want to rush in money making.

Let us say you have $2500. Why trading all if that is all your money. Using $500 or less is enough.

Do not use more than 1x leverage

If you will use averaging, it is better. You can start the position at 0.2x and end it with 1.5x for altcoins or 2.5x for bitcoin.

Analyses and indicators are necessary

Money management is necessary

There is no doubt that when you combine, haste, greed, ignorance and overconfidence, you create a recipe for disaster, and a great deal of those that come to this market have all of those flaws, which makes it impossible for any single one of them to obtain profits on the market.

Since even if they had a great strategy to trade the markets, all of that will be for naught as their inability to become profitable comes not from their knowledge or skills, but from their state of mind.

[Alpha Marine]

Let's say that you're selling something online, and you have a supply chain to get the product ready and assembled for you, when all of a sudden, one of the supplies you use is in short stock. Restocking it will be very expensive because its price has gone up, but there is a bigger demand for your products. However, you do know that the price of the supply will go down if you just wait, but you may run out of inventory before then, but you don't know if you will.

Let's say you panic, and make a large order for the supply. Then all of a sudden, for unrelated reasons outside of your control, your sales tank. Now you are stuck with a giant amount of supplies that you can't offload, because product sales have slumped.

This is good advice, I think we should never make decisions out of pressure, every decision and risk we take should be a calculated risk. However, it is often times not this straightforward. With bitcoin holding and trading, it may be, but not in business.
In a business scenario, the profit may not be all you're looking at.
Let's say you have customers that trust and rely on you, you would be letting them down if you don't deliver and things like this can make you lose customers. It might also be an opportunity to get new customers. When you deliver, this might just be the opportunity to turn potential customers into customers.
So yea, you might make a loss, or not get the desired profit, but in business, even though the goal is to make profit, solving a problem for your customer and keeping them happy is the best way to make profit.

In a situation like this you’re definitely sure that the supply price  will reduce In due time but don’t know when and also not knowing the exact time your inventory would drop or finish, as someone who wouldn’t want to lose his customers at this time it is best to simply go in for a little supply that you can bear the risk or wait for the supply price drop leaning to the remain inventory

Exactly my point, make a calculated risk.
Get a small amount of inventory and satisfy your customers, even though you'll bear a small loss, it'll be worth it because satisfying your customers will always bring more customers and businesses your way.

[Kelward]

The phrase that in order to reach your target that you shouldn't rush is true but it doesn't apply in every decisions and businesses, because it's also said that delay can be dangerous, so there's some kind of businesses can give you the liberty of waiting, while others requires quick decisions. In crypto trading I guess that waiting and not rushing to enter a trade can be rewarding, because the market is volatile and it's not easy to speculate price, but there are some businesses that if you're not able to make quick decisions, someone else will and you'll be at lose. I think that the kind of business or situation that a person is in will determine if they need quick or slow decisions.