Investment Become Gambling

[Shiny_L@dy]

Year 2023. I started investing in Bitcoin. The market has fluctuated many times until now. However, I have always had a long-term goal. Although I had to sell once due to circumstances, but I started investing again.

However, a few weeks after my investment, a close friend of mine also started investing. He also talked about long-term investment. Our goals were similar. However, even though the goals were the same, our behavior was not the same over time, and this is where the difference between investment and gambling was created.

He start take profits when price increased. After doing this a few times, he started monitoring the market regularly and analyzing the opinions of YouTube and Telegram. At one point, he started making decisions with the market fluctuations. Sometimes he would buy out of FOMO and sometimes he would sell out of panic. In this way, he would make profits at times and sometimes he would lose.

 Even when I warned him about such behavior, he  misunderstand me that maybe I did not want to let him make a profit.
However, at one point, after significant financial loss, he realized his mistake. The problem was in his behavior.  He had the ability to continue investing well in the long term and even though he started investing with this intention, due to his inability to control his behavior, the investment turned into a gamble. 

Do you think that mental and behavioral control are similar important with financial management, risk management  in investing?

✨

[Donk1]

Well most folks chose not to listen, so definitely experience is the only thing that can make them realise their losses. That said the concept of listening to everything you hear on social media YouTube, X, and the rest is not bad what is bad is when you listen and you fail to do proper research to confirm your knowledge about it .Unfortunately to me when it comes to one's finances management in investment I believe it is only there to help you figure out when to buy and your behaviour control tells you when not to. So it's easy to say they both work together and failure to control them will lead to one's investment turning into a gamble...

Overall I can't say your friend learnt his lesson no that would be wrong. He simply went through experience and that experience gave him knowledge. It's up to him to make use of it. So yeah it was his decision anyways and the best thing about the market is that it tends to favour those who are patient with their investment... that's just it...

[Yorubek]

To be successful in investing in Bitcoin, it is very important to first achieve the right knowledge because without the right knowledge, it is not possible for an investor to achieve success. Along with achieve the right knowledge, consistency is very important. If there is no consistency in investment, then success cannot be achieved, so you should buy Bitcoin consistently with a long-term plan with prudent money and do not be disappointed by the instability of the market. You should wait patiently for a good time with confidence, as a result of which long-term profits can be expected. We must remember that it is never possible to achieve success by investing in Bitcoin long-term investment or short-term plans, so success can be achieved buy Bitcoin with a long-term plan with confidence and patiently waiting for the right time.

[HajiBagi]

There are some people that even if you warn them several times they will not listen to you until they learn from their mistakes, your friend deserves what he learned from his mistakes, the reason why i always said that people who don’t have mind are the ones who can not invest in bitcoin if not bitcoin is for everyone and everyone can buy bitcoin but when you don’t have patient and don’t know what bitcoin is all abou, you will not succeed in the process even if you have capital to buy it.

Another reason why I don’t advise people to invest in bitcoin because some individual will pretend that his or her goals in bitcoin is to hold for a long term as your goal and at the end they will sell when they see the price is high without thinking about the goal they said they set for the investment, if anyone tells you that his or her goal in bitcoin is to buy and hold for a long time just don’t believe, he or her action will tell you if they can hold as they say or they will sell when they see that they can make a profit.

[Shadiq]

Here you both lack knowledge. In your friend's case, he may have had a long-term plan but did not have a prudent source of income to take action according to the plan or he did not have any source of income at all.

You had to sell the investment first due to lack of good financial management and risk management. Perhaps you did not have a backup fund with which you could get through an emergency.

Your friend may have been suffering from a lack of sufficient money because he needed to make money quickly from Bitcoin to cover expenses or he considered Bitcoin as a source of income. He must have lacked knowledge and patience because he took long-term measures but used Bitcoin as a quick money making scheme due to lack of patience and knowledge. Both suffered from a lack of sufficient knowledge! If he did not lack money, then he was an impatient and greedy fool. .

[Uhwuchukwu53]

The story defined the investment to really look gambling, the issue is that when the purpose and vision to one's investment is not properly defined it will surely collapsed or become gambling, they investor has long term dream within the lips but but by the market , decision while holding or running any investment should goes beyond certain level that not everything around the investment move the investor to react lacking patient will never survive but will end gambling it's investment.

[Odohu]

What I understand from this story of yours is that your friend transitioned from being an investor and holder to becoming a trader which is what triggered his taking profits and starting to monitor the market  for short term buy and selling opportunities based on opinion he gathered from social media. Such things happens we're people started very well and ended up badly...that is a habit and temptation we must try our best to resist. Give him 10 years from now, he will end up with less money in his portfolio than you that is holding andbuying more. Just try not to be influenced to jettison your pattern for his because he is going the wrong way.

[Hoximen7]

To be successful in investing in Bitcoin, it is very important to first achieve the right knowledge because without the right knowledge, it is not possible for an investor to achieve success. Along with achieve the right knowledge, consistency is very important. If there is no consistency in investment, then success cannot be achieved, so you should buy Bitcoin consistently with a long-term plan with prudent money and do not be disappointed by the instability of the market. You should wait patiently for a good time with confidence, as a result of which long-term profits can be expected. We must remember that it is never possible to achieve success by investing in Bitcoin long-term investment or short-term plans, so success can be achieved buy Bitcoin with a long-term plan with confidence and patiently waiting for the right time.

Some people who are new to the world of trading with the expectation of instant results without wanting to go through a long learning process feel that they already know enough or are lazy to understand the basic mechanisms of the market, even some people start playing trading only looking at the success side without caring about the risks, all the paths they know are very fast to victory they do without caring about the smaller risks in my opinion playing with a long time period

[Mhizlove]

To be successful in investing in Bitcoin, it is very important to first achieve the right knowledge because without the right knowledge, it is not possible for an investor to achieve success. Along with achieve the right knowledge, consistency is very important. If there is no consistency in investment, then success cannot be achieved, so you should buy Bitcoin consistently with a long-term plan with prudent money and do not be disappointed by the instability of the market. You should wait patiently for a good time with confidence, as a result of which long-term profits can be expected. We must remember that it is never possible to achieve success by investing in Bitcoin long-term investment or short-term plans, so success can be achieved buy Bitcoin with a long-term plan with confidence and patiently waiting for the right time.

From what I understand someone can't succeed in bitcoin without proper knowledge after words it's consistency, if you are the kind of person that can be consistent like you will buy today and later tomorrow you will be afraid because the market is not stable. If you're investing on long term you need make sure you plan and also invest with money that you afford at the end you will see that a little ups and downs in the market won be a problem to you.

You see bitcoin it's rewards those who are patient, not those who rush into it. The way for you to succeed in bitcoin, just stay focused,calm and be confident of yourself you will see that long term profit will come in the future.

[Btcalysis]

Do you think that mental and behavioral control are similar important with financial management, risk management  in investing?✨

Investing, Gambling and Trading can be done in Bitcoin, but most people dealing in Bitcoin do not know. That is why you see people saying they lose in bitcoin investment, I still wonder about that whenever I see it. Even if you made a mistake by buying at the wrong time, the only requirement is to wait, if you can wait, bitcoin will return back to the price you bought it. But for the lack of patience and knowledge of how bitcoin behave, people lose.

Like your friend, it is clear that he is moving between trading and gambling, this is not good in Bitcoin investment. You don't necessarily hold your bitcoin for so long but you shouldn't joke with your purpose of buying it. I don't think it makes sense for someone to buy bitcoin without holding it for at least 3 months. I recommend nothing lesser than 6 months minimum to avoid dancing between trading and gambling when you think you are investing in bitcoin.

[Justin B2]

An investment essentially becomes gambling when you abandon a strategy based on research, data, and long-term goals in favor of short-term speculation, emotional decision-making, and relying purely on chance.
While both activities involve risk and the potential for gain or loss, the underlying principles and expected outcomes are fundamentally different. Yes is true is very important in a man to invest in a Bitcoin account as a man

[Y3shot]

Do you think that mental and behavioral control are similar important with financial management, risk management  in investing?

Every investor has a particular mentality and behavior which, under normal circumstances, can affect investment. But as one who wants to go into investment like Bitcoin, you need to first understand Bitcoin very well and adopt the real mentality and behavior that one needs to embrace, knowing that without having this mentality and behavior, it will be impossible to succeed in Bitcoin investment.

Understanding Bitcoin and adapting to the mentality of Bitcoin is a way to succeed in Bitcoin investment; however, if you are not willing and choose to go with your own mentality and understanding to invest in Bitcoin, you will still end up at a crossroads.

[Progress101]

Do you think that mental and behavioral control are similar important with financial management, risk management  in investing?

Well Yes, I will say they are just as important and your experience shows that very clearly. What acually separated you and your friend was how you both handled yourselves over time. You stayed focused on your plan, while he slowly let emotions take the wheel. Basically once fear, excitement, and outside noise from YouTube or Telegram started influencing his decisions, investing stopped being calm and intentional and started feeling like a game he had to keep reacting to.

Money management and risk management matter, but they don’t work without self-control because the market will always move up and down and its normal. your challenge will always be to resist the urge to act on every price change.
If you cannot control FOMO or panic, even a long-term plan can turn into gambling without you even realizing it sef

[Floczy]

The story defined the investment to really look gambling, the issue is that when the purpose and vision to one's investment is not properly defined it will surely collapsed or become gambling, they investor has long term dream within the lips but but by the market , decision while holding or running any investment should goes beyond certain level that not everything around the investment move the investor to react lacking patient will never survive but will end gambling it's investment.

Trying to understand what you have writing so far is very complicated but at least I was able to grab your points.
Investment starts from goals to preparation to consistency and lastly to commitment. A defined goal, plus proper preparation will lead to a successful investment. No two ways about it. Investor needs to understand, the patience it will take to put this into place. Remember, investment is a two way thing, either your profit or you lose. With such understanding, only when reduce the risk that comes with investment can you be able to profit from it.

[Shiny_L@dy]

Here you both lack knowledge. In your friend's case, he may have had a long-term plan but did not have a prudent source of income to take action according to the plan or he did not have any source of income at all.

You had to sell the investment first due to lack of good financial management and risk management. Perhaps you did not have a backup fund with which you could get through an emergency.

Your friend may have been suffering from a lack of sufficient money because he needed to make money quickly from Bitcoin to cover expenses or he considered Bitcoin as a source of income. He must have lacked knowledge and patience because he took long-term measures but used Bitcoin as a quick money making scheme due to lack of patience and knowledge. Both suffered from a lack of sufficient knowledge! If he did not lack money, then he was an impatient and greedy fool. .

Yes, I once broke my investment but the main cause was not of knowledge, financial management and risk management ... By the way after starting investment for the second time, I have continued holding till now.

The real point of my comment was not who started with how perfect a plan but the main point here was behavioral difference and mental control. You took financial capacity as the only criterion but I have highlighted here that despite having capacity, his investment turned into a gamble due to his lack of strong mentality. And due to his inability to control the mentality of taking temporary profits, he would sell when the market rose and buy when it fell.

People learn from mistakes and he has learned from his mistakes and started holding again and is holding on to it.  
 
However, your use of the words 'greedy', 'fool' attacks a person personally. Surely, the use of such words is not part of any analysis. Where the discussion is about experience and education, one should not proceed by judging character.

✨

[DiMarxist]

For anyone to hodl for a long time he or she needs to develop the right mentality concerning their Bitcoin holdings. Understanding that long term investment is the key if you are to make a good and sustainable investment is key. I agree with the title of your thread that alot of person's today are actually gambling with their Bitcoin holdings because anyone who is just looking for an increase in price so that, he or she can sell and make quick money is actually a gambler and is not committed to Bitcoin investment.

[PremiumcryptoHub]

From your story, I understand that your friend has transformed from an investor and Bitcoin holder to a trader. However, we should know that in investing we should know about financial management and risk management, along with that I would say that there should be mental and behavioral control as well, otherwise, he may get carried away by a slight increase in the market and sell the investment.

Anyway, the problem of your friend was that he could not control his emotions in Bitcoin investment, due to which he started taking opinions or signals from YouTube and Telegram to monitor the market regularly, in fact, these activities are of a trader because they buy or sell any currency through signals from such platforms. However, that trader should give up this mentality and should invest in the long term and take steps according to the plan.

[yixichloro2xx]

This is why it is good to prepare your yourself, mentally, emotionally before thinking of investing in Bitcoin. Like your friend, his goals was to use it as a means of survival, that why he keeps selling out profits, then when he see that Bitcoin price is increasing again he jump in in order to find profit out of that short term move. So inshort he is just gambling with his money. Normally investment in Bitcoin for a long term is not really easy , because there are a lot of temptations that comes with it along the way. It is only those who are discipline and patient enough that tends to earn massive rewards from Bitcoin.

[icebar]

If you do not have discipline after investing in Bitcoin, then there is no chance of that investment being long-lasting. At the same time, after investing, you sometimes get greedy when you see the price of Bitcoin increasing. You thought that maybe you can sell at a high price and buy it again at a low price and in this way, you will continue to profit. But because you sold after the price increased, you did not get the opportunity to buy at a low price. Again, when the market starts to turn bearish, you panic and sell to protect yourself from further losses. If your emotions are always fluctuating, then it is not possible for you to maintain your investment in Bitcoin for the long term. Of course, if you want to invest here, you have to be steady. If you can hold Bitcoin in any situation, then there is a high chance of profit.

[Iroh]

I've met some people that have once thought and acted like your friend did. I don't know what your friend was planning, but in my opinion, he wasn't playing for the long run. If he was interested in investing in the long run, he would have had an allocated time frame and stuck to it. Definitely not selling out of panic or when having some price increase, going ahead to slice some little profits off the top.
Understandably, market fluctuations are bound to happen and should be expected. It certainly shouldn't bother you much especially when you plan on going for the long run. Taking financial advice from some "experts" on youtube and telegram is also not so advisable as it can be downright crazy.
I think planning has slowly become underrated, people fail to actually do and stick with it.