The necessary rules of investing.

[Jegileman]

That's right, but for one to stay true to their investment, its advisable that they should have other sources of income, as it will help them to prevent anything that will cause them in tampering with their portfolio, which might stop their journey half way.

Not having another source of income before one starts their investment in bitcoin is very risky and it could crumble your investment halfway. Bitcoin needs a long term investment strategy that doesn’t allow any interference in the consistency of their investment.

That is why they should not always be in a haste to start investing, when they haven't understand what it takes to invest and be successful in it, because it will help them to acquire more knowledge and understanding, which will support them in achieving their goals in it.

Bitcoin investment is better invested into when you have a good knowledge about it. Emotional intelligence is a very big deal in bitcoin investment that when not well handled can cause a lot of problems at the course of your investment. Know what you’re getting at and how you can achieve that goal in your investment.

[Grace333]

I made this mistake sometimes ago when I was heavily into altcoin, I picked lots of altcoin thinking it's going to be massive with profits over time, I invested $100 into 5 different altcoin and all of them gone bad, none could be able to raise me a good profits but disaster after all.

My lesson: I only invest in top 5 altcoin in coin market cap, that's the surest way of diversifying crypto.

It’s wise not putting all your eggs in one basket, but before you diversify, do your research on what you’re about to invest in. There a time I saw a shitcoin on my exchange pumping massively to the extent that my exchange listed it as the top 1 hot coin, i felt that the shit coin will have potential to keep pumping so I bought some quantity of this shitcoin, 1 week after I got the coin, it dump massively to the extent that the funds I Put into it was 75% short.

Member of this forum have been giving warnings on and on not to invest in these shitcoin, I’ve learnt the hard way though. Now before I indulge in any form of investment, I do thorough research on it.

[Princess Leah]

I made this mistake sometimes ago when I was heavily into altcoin, I picked lots of altcoin thinking it's going to be massive with profits over time, I invested $100 into 5 different altcoin and all of them gone bad, none could be able to raise me a good profits but disaster after all.

My lesson: I only invest in top 5 altcoin in coin market cap, that's the surest way of diversifying crypto.

It’s wise not putting all your eggs in one basket, but before you diversify, do your research on what you’re about to invest in. There a time I saw a shitcoin on my exchange pumping massively to the extent that my exchange listed it as the top 1 hot coin, i felt that the shit coin will have potential to keep pumping so I bought some quantity of this shitcoin, 1 week after I got the coin, it dump massively to the extent that the funds I Put into it was 75% short.

Member of this forum have been giving warnings on and on not to invest in these shitcoin, I’ve learnt the hard way though. Now before I indulge in any form of investment, I do thorough research on it.

Your statement makes a lot of sense, infact diversifying from Bitcoin to shitcoins is a total waste of time, I can support that people diversify from Bitcoin to other proven assets like Real Estate, Stock, etc but not to other cryptocurrency asides Bitcoin since they all depend on the growth of Bitcoin to thrive, moreover most of them and "pump and dumps".

 So because of that they're considered very risky, Bitcoin is the only digital currency that's proven it's in the asset class and worthy of investment, people that tend to invest in shitcoins are doing it at their own risk.

[Out of mind]

To invest, we must follow the necessary aspects, these are very important. The things you have highlighted are certainly very necessary for an investor, if they do not pay attention to all these processes, they may fall into despair. Basically, we have to give importance to some things before investing, especially in the beginning we have to set our goals, and take risks. Along with investing, we have to plan for the long term and control our emotions, invest regularly and have an emergency fund. Moreover, we have to learn about all these things because we have to understand the market, and analyze the market to the maximum. It will be best and reliable if every investor uses the DCA method, besides investing us with the right decisions, time and patience that can lead us to success.

[Lembo69]

The necessary rules of investment include keeping your wallet in custody. In addition, do not invest Debt defaulters. In addition to investment, there must be an emergency fund, and of course, investment must be made from prudent income. Only then can an investor make sustainable investments.

Currently, investment is becoming such a thing that there are fewer investors but the number of traders is increasing. Because they are buying at a low price and selling their Bitcoin at a high price. In my personal opinion, investors need to start investing more than knowing the general rules about investment. If people cannot start, how will they know the necessity of investment?

First of all, you have to start, if you never sit in the car seat and just keep taking continuous knowledge about how to drive a car, then you will never be able to learn to drive a car. To drive a car, you have to sit in the driving seat first, only if you can dare to sit in the driving seat can you learn to drive. The same is true with investments. Until you invest, you will never understand where and what you need to invest.

[Dechris_08]

Which investment strategy do you use and why?

Your opinions are welcomed here.

Setting clear goals is step one, but the real edge comes from translating those goals into rules you can actually follow.

I personally link every investment to a principle, risk per trade, expected return, and scenario planning.

That way, when the market jitters, I’m not reacting emotionally, I’m executing a plan I trust.

[Saltysugar99]

The necessary rules of investment include keeping your wallet in custody. In addition, do not invest Debt defaulters. In addition to investment, there must be an emergency fund, and of course, investment must be made from prudent income. Only then can an investor make sustainable investments.

Currently, investment is becoming such a thing that there are fewer investors but the number of traders is increasing. Because they are buying at a low price and selling their Bitcoin at a high price. In my personal opinion, investors need to start investing more than knowing the general rules about investment. If people cannot start, how will they know the necessity of investment?

First of all, you have to start, if you never sit in the car seat and just keep taking continuous knowledge about how to drive a car, then you will never be able to learn to drive a car. To drive a car, you have to sit in the driving seat first, only if you can dare to sit in the driving seat can you learn to drive. The same is true with investments. Until you invest, you will never understand where and what you need to invest.

I agree with you that it is really important to start investing in Bitcoin. I used to study a lot about investment before investing. I even spent a lot of time on the forum. Although I have learned a lot since then, what I have understood in this short experience after starting investing is much more. In reality, when you start investing, you can understand and learn everything together, including planning, fund management, Bitcoin price fluctuations, and controlling your mental state. Which is not possible to learn if you do not start investing.

[Dzwaafu11]

You made good points, getting into an investment without settling out clear targets that you are working towards, don't just start an investment without having goals in mind. if you decide to invest in cryptocurrency bitcoin is the obvious investment most people would go for but it is important to diversify your investment instead of putting all your investments in eggs in one basket you can invest in other coins.

Bitcoin always remain the safest crypto currency to invest in, the only problem some investors have is the fact that they don’t want to invest and settle for a long period of time, they need something quick and we all know how bitcoin investment work. You can’t get it so fast, as some investors are thinking, newbies investors need to understand that fact, they must wait for a long period of time before they can be able to to get their money back with profit,

[Proty]

 It is right to have a set goals and a plan on how to achieved this goal . The plan should also include the timeline on which the goal is to be achieved. Considering bitcoin investment long term goals should be appreciated because having a short term goals in bitcoin investment is very risky. Bitcoin is volatile in nature, having a short term goal will amount to losses.
Whatever assets we plan to invest in ,our goals should always align with the assets .
The risk involved should also be put into consideration and invest an amount that we believe we can afford to lose based on the risk of the assets.

[ruykeri]

It is right to have a set goals and a plan on how to achieved this goal . The plan should also include the timeline on which the goal is to be achieved. Considering bitcoin investment long term goals should be appreciated because having a short term goals in bitcoin investment is very risky. Bitcoin is volatile in nature, having a short term goal will amount to losses.
Whatever assets we plan to invest in ,our goals should always align with the assets .
The risk involved should also be put into consideration and invest an amount that we believe we can afford to lose based on the risk of the assets.

They invest in the short term in the hope of quick profits. But they should understand that Bitcoin is not for short-term trading. Trading and gambling in the short term work in the same way. It all depends on luck. But the more time you give, the more the holding will increase. And the risk will decrease. If you invest in Bitcoin with a long-term mindset over time, there is a possibility of making several times more profits in the future. Therefore, those who want to start investing should first start investing with a long-term mentality through proper planning, strong back-up funds and discretionary income.

[Fivestar4everMVP]

All of the listed rules are rules I completely agree with, and they are rules I've personally taken into consideration before I start the investment journey I am on right now, the only mentioned rule I've not considered is the one that talked about diversification.

The thing is, I don't understand much about stocks, I know better about real estate of which I have a few plots of physical lands I bought, but coming to online investment, crypto is my only focus, and when i read about diversification, what I usually understand it to mean is to not only invest in bitcoin alone, but to spread my investment to other crypto assets like the ones we know as altcoins, I do not know if this right and a good decision, but I rather will put my money where I understand well than where I do not understand.

[ASloveapg]

It is right to have a set goals and a plan on how to achieved this goal . The plan should also include the timeline on which the goal is to be achieved. Considering bitcoin investment long term goals should be appreciated because having a short term goals in bitcoin investment is very risky. Bitcoin is volatile in nature, having a short term goal will amount to losses.
Whatever assets we plan to invest in ,our goals should always align with the assets .
The risk involved should also be put into consideration and invest an amount that we believe we can afford to lose based on the risk of the assets.

They invest in the short term in the hope of quick profits. But they should understand that Bitcoin is not for short-term trading. Trading and gambling in the short term work in the same way. It all depends on luck. But the more time you give, the more the holding will increase. And the risk will decrease. If you invest in Bitcoin with a long-term mindset over time, there is a possibility of making several times more profits in the future. Therefore, those who want to start investing should first start investing with a long-term mentality through proper planning, strong back-up funds and discretionary income.

Focusing on dips can be a waste of time for beginners. The most important thing is to determine personal factors and budgets such as whether they can afford to invest $100 a week. If they don’t already have strong cash flow management, it’s important to find specific steps to improve that system. Backup funds become even more important when investing in Bitcoin, so that they aren’t tempted to invest at times that aren’t their preference. Additionally, keeping an investment in Bitcoin for 4-10 years or more is an endeavor that can take some time for beginners to understand and accept, especially if they’re starting out with a trading mindset.

[Fiasem20]

It’s very crucial to build a plan in whatever investment you’re into,your plans could be for the long term and most person’s goal is for the short term,plans differs choose yours wisely and adhere to them.Again,it is very important to make research on any investment you’re interested before giving it a try,your research could be on the internet or by experienced individuals who have gained vast mastery of the investment to play the role of a mentor.Lastly,diversification of asset isn’t compulsory but it’s still advisable for an investor not to put all their hard earned money in only one investment.

[Somto9Light]

While investing in any asset, ensure to set a clear goal. Ask yourself a question and know what you are investing for. Are you investing for your retirement? or you are investing to own a home? When you know your goal, you can determine your investment plan.

Before anything, we ha e to create time for designing the purpose of what we are aiming to do, we can't invest without having time on what is needed to be in place, such could be on defining the purpose for our investment, the duration, the cost for it, risk on it and the time frame it may cost us to be profitable with it, investment is not what we can just do like that, it have to come with adequate planning that will make the whole execution process fair for us all.

I get what you're trying to say, and of course all investors is meant to have reasons/ purpose of investing it's never right to dive into Investment when you don't have a proper plan no" it doesn't work like that, because without making a solid plan nothing is going to keep you motivated it's that plan you have that would keep you motivated and also make you to be more disciplined. and after that we also need to make sure that we meet up with the requirements like emergency funds and reserve funds after we must have build or discretionary income because this above mentioned funds have important roles to play in bitcoin investment as we can't do without them.

[Out of mind]

You highlight things that must be done by an aspiring investor before thinking of starting their investment. After reading through, I think you have omitted something very important here, which is a sustainable source of income. You must not be a salary earner, nor receive pay check to pay check. But it must be sustainable for you to reach your investment goals. Another thing I feel was not talked about is setting aside an emergency fund to avoid tampering with your portfolio. We live in a country that is very difficult to stay true to our investment, but with emergency funds, we can conquer any unexpected event while our portfolio still remains. I'll stop here for now.

That's right, but for one to stay true to their investment, its advisable that they should have other sources of income, as it will help them to prevent anything that will cause them in tampering with their portfolio, which might stop their journey half way.
That is why they should not always be in a haste to start investing, when they haven't understand what it takes to invest and be successful in it, because it will help them to acquire more knowledge and understanding, which will support them in achieving their goals in it.

In terms of investment, we know that it is necessary to keep some emergency funds, so just investing will not do, people must have a source of income. When the market starts to fluctuate, if there is an emergency fund, then it can be prevented at that time. It is possible to expect profits by continuously buying Bitcoin. In terms of investment, one should not rush, but should be patient and analyze the market sufficiently and then make a good plan. To make investment successful, one should always proceed through one's own knowledge and experience. If one faces volatility, then be patient and continue buying using DCA. To achieve goals by investing, we must proceed according to a good plan in every matter, only then can help be successful.

[Cleanshit]

Investing needs commitment and long term mindset. Bitcoin investment is something that you need to be able to take care of your basic needs before you can invest. You need a discretionary income to invest in bitcoin for longevity.

If you have a stable income and gate no discretionary income, you are not in the position to invest in bitcoin. Diversification is good when you do it at the right time on an asset you are more knowledgeable on.

I think your point is really valid here bitcoin really need to mindset of longevity in it, having to come to bitcoin investment doesn’t necessarily mean you start pulling out money as soon as possible That really not true, I think I was aslo think of such when I was a newbie back then and it was more like you such come into bitcoin investing because you are broke and you want to change the whole story in a months Bitcoin is not just something you invest in and get a return soon as possible.

[L E G E N D A R Y]

To invest, we must follow the necessary aspects, these are very important. The things you have highlighted are certainly very necessary for an investor, if they do not pay attention to all these processes, they may fall into despair. Basically, we have to give importance to some things before investing, especially in the beginning we have to set our goals, and take risks. Along with investing, we have to plan for the long term and control our emotions, invest regularly and have an emergency fund. Moreover, we have to learn about all these things because we have to understand the market, and analyze the market to the maximum. It will be best and reliable if every investor uses the DCA method, besides investing us with the right decisions, time and patience that can lead us to success.

Following instructions and by abiding by it, its very essential, as it will help them to know what to do and not to do, at the right time as well, because whatever thing that involves investment really needs a good understanding, which its important for one to always acquire more knowledge and understanding about it by having right information, which it will support in actualizing their goals in life.

[Boy-o-boy]

You highlight things that must be done by an aspiring investor before thinking of starting their investment. After reading through, I think you have omitted something very important here, which is a sustainable source of income. You must not be a salary earner, nor receive pay check to pay check. But it must be sustainable for you to reach your investment goals. Another thing I feel was not talked about is setting aside an emergency fund to avoid tampering with your portfolio. We live in a country that is very difficult to stay true to our investment, but with emergency funds, we can conquer any unexpected event while our portfolio still remains. I'll stop here for now.

definitely this opinion was omitted like seriously sustainable income plays a major role in investments and having emergency funds is also a good start

[Agbe]

Diversifying your investment is important when it comes to crypto but the catch is, any other thing you invest in asides bitcoin has a very high potential to fail. Not saying bitcoin is ultimately the safest or doesn't have it's risks but if you consider investing in altcoins you need to do lots of research to make sure that you are not just putting your money into a dump. Make sure you go about it smartly.

[Youngrebel]

One very important point everyone should acknowledge is the fact that you must never venture in a particular investment platform only because another person is into it and you see him or her doing well. Be sure of what you are going into as an investments before going into it. There are lots of things happening out there. People can be very mischievous and can go any length to convince you just to get you duped. Go extra length to check and cross check before investing.  Don't be a victim.