Investment Become Gambling

[Pablo-wood]

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.

 

The worst mistake anyone can make is combining sentiments and investments together. There is nothing YouTube can offer when it comes to investing in Bitcoin other than sentiments. And the moment anyone buys into their analysis they begin to practice FOMO and most of their intuitions will revolve around FUD. They start battling with emotions and panic and with time the find it difficult to hold for the slightest of period. The will only speak of long term but can't even hold for a couple of months. Bitcoin investment doesn't need close monitoring, it's just one kind of investment that you should even forget you are investing in while properly safeguarding your phrases. The moment we start monitoring it at every slightest opportunity it no longer becomes an investment but rather a business or preferably another form of crypto trading.

[Finebone]

The worst mistake anyone can make is combining sentiments and investments together. There is nothing YouTube can offer when it comes to investing in Bitcoin other than sentiments. And the moment anyone buys into their analysis they begin to practice FOMO and most of their intuitions will revolve around FUD. They start battling with emotions and panic and with time the find it difficult to hold for the slightest of period. The will only speak of long term but can't even hold for a couple of months. Bitcoin investment doesn't need close monitoring, it's just one kind of investment that you should even forget you are investing in while properly safeguarding your phrases. The moment we start monitoring it at every slightest opportunity it no longer becomes an investment but rather a business or preferably another form of crypto trading.

Anyone that is still taking advice or directions from a YouTuber or any social media influencer is either a newbie that doesn't really know his left or right in the space or a trader that is looking for quick way to make money, because I don't get it how a Bitcoin investors that is knowledgeable on Bitcoin and how to get the best result out of his investment will be taking directive from a YouTuber or a social media influencer that are good at misleading newbies into investment in shit coin.

[Tungbulu]

Anyone that is still taking advice or directions from a YouTuber or any social media influencer is either a newbie that doesn't really know his left or right in the space or a trader that is looking for quick way to make money, because I don't get it how a Bitcoin investors that is knowledgeable on Bitcoin and how to get the best result out of his investment will be taking directive from a YouTuber or a social media influencer that are good at misleading newbies into investment in shit coin.

It’s not like it’s totally wrong to get information from some YouTubers and social media influencers, not all of them are actually misleading, there are some that you can actually learn a thing or two from, even if all they’re saying isn’t entirely correct, you could still learn a few things from them. The reason why most folks run into problems is due to their failure to do their due diligence, many people don’t do their own research, so when they just receive certain information, they just move ahead to do it without first checking the authenticity of the information they have received.

[AGogi2003]

Someone can't go into Bitcoin investment witj the mindset of a trader and expect things to work perfectly, Bitcoin investment involves buying and holding for long-term and not buying to take profits when the market improves in a short-term period like your friend did, that's a traders behaviour. Yes there might be profits on certain periods but it's not a healthy way of investing and the person would later regret when they sell cheaper and Bitcoin does more better numbers in future. That's why holding for long-term is very important, investing in Bitcoin requires patience, discipline and determination for one to meet their long-term goals.

That is why you need to look for bitcoin knowledge first before you start the investment or trying to trades, when you buy bitcoin you should know that you can't get profit easily you need to invest for long term before you can probably achieve your goals, Bitcoin investment is really good if you understand it better and things will be going well for you.

If you can be patient enough you will surly achieve your goal in Bitcoin investment because bitcoin is better then other coin and that is the coin that will be minimising your risk and you will have more peace of mind but if you don't have enough money you should not take risk just try to have more source of income so that when you invest you can leave it for long terms without touching your investment.

[Gost ms]

Someone can't go into Bitcoin investment witj the mindset of a trader and expect things to work perfectly, Bitcoin investment involves buying and holding for long-term and not buying to take profits when the market improves in a short-term period like your friend did, that's a traders behaviour. Yes there might be profits on certain periods but it's not a healthy way of investing and the person would later regret when they sell cheaper and Bitcoin does more better numbers in future. That's why holding for long-term is very important, investing in Bitcoin requires patience, discipline and determination for one to meet their long-term goals.

That is why you need to look for bitcoin knowledge first before you start the investment or trying to trades, when you buy bitcoin you should know that you can't get profit easily you need to invest for long term before you can probably achieve your goals, Bitcoin investment is really good if you understand it better and things will be going well for you.

If you can be patient enough you will surly achieve your goal in Bitcoin investment because bitcoin is better then other coin and that is the coin that will be minimising your risk and you will have more peace of mind but if you don't have enough money you should not take risk just try to have more source of income so that when you invest you can leave it for long terms without touching your investment.

We do not need to have a lot of knowledge to invest. What we need to know to invest is whether we have discretionary income or not. After starting investing, you can progress both investing and gaining knowledge related to Bitcoin in parallel.

Trading requires a person to learn a lot and trading is much riskier than investing. It often takes a person 3 to 4 years to learn trading. We should never focus on trading, we should always keep ourselves engaged in investing.

We do not need a lot of income to invest. If a person's income is low and if he is able to find discretionary income through proper financial management, then he can invest. It is very important for a person to manage his finances properly. Just because a person earns a lot of money, it does not mean that a person will be able to hold on to his investment for the long term. If a person invests with urgent money and if he needs that amount of money, then his investment may have to be sold prematurely.

[Orpichukwu]

Anyone that is still taking advice or directions from a YouTuber or any social media influencer is either a newbie that doesn't really know his left or right in the space or a trader that is looking for quick way to make money, because I don't get it how a Bitcoin investors that is knowledgeable on Bitcoin and how to get the best result out of his investment will be taking directive from a YouTuber or a social media influencer that are good at misleading newbies into investment in shit coin.

Anyone who is focused on taking advice from YouTube or wherever else is not supposed to be called an investor because as an investor, you should be able to know how to run your thing and how to buy and hold. People who go around looking for info from such influencers are either day traders who are looking for signals to make quick profits, and they always end up landing themselves in the hot seat.

[osasshem]

It is said that experience is the best teacher, yet most people want to learn from their own experience, whereas it is wise to learn from other people's experiences, so as to avoid the mistakes they made. When it comes to financial investments or as an investor, advise will come from all corners, but to what end does the advice go with you? In every form of investment, it is very important to do your own research, to save you the hustle of massive losses.

Something I have come to realise about DYOR, is not only for the possible benefits and profits that will be obtained in the investment journey, but to know how the losses will be when it comes. Will one be able to manage the effect of the losses, how can one mitigate the losses, what are the wrong things that one can do that will affect investment growth? These are some things that can also be researched on. Losses are inevitable, but it is very possible to mitigate the effect of how the losses will go.

[Tetu100]

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.

Sometimes it is not always prober advising people on their investment stuff because you might be seen or labeled as someone against their progress so it better you let them learn the hard way because just as it's, experience is the greatest lesson to man.

At initial when you were trying to be nice to your friend by putting him through on the right thing he never believed you instead he thought you were against his progress but when things hit him so hard he realize better. Bitcoin is not something you we invest and be expecting some kind of magic to occur along the line, you must pass through due process ( investing with the right funds and in a long term) to achieve your goal.

[Derekfunds]

Anyone that is still taking advice or directions from a YouTuber or any social media influencer is either a newbie that doesn't really know his left or right in the space or a trader that is looking for quick way to make money, because I don't get it how a Bitcoin investors that is knowledgeable on Bitcoin and how to get the best result out of his investment will be taking directive from a YouTuber or a social media influencer that are good at misleading newbies into investment in shit coin.

Anyone who is focused on taking advice from YouTube or wherever else is not supposed to be called an investor because as an investor, you should be able to know how to run your thing and how to buy and hold. People who go around looking for info from such influencers are either day traders who are looking for signals to make quick profits, and they always end up landing themselves in the hot seat.

Not everyone who go to YouTube and some other social Media to get information are all traders some are genuine investors and sometimes they went online to learn by comparing things and in life, the best way to learn sometimes is to compare things you have seen online and what you have stored in your head and then going to internet to make a research about it. So it is not wrong to go to social Media to learn things but it will be wrong to follow everything one saw without a second thought and without making a research or try to acquire more knowledge concerning that particular thing.

[Mate2237]

What you have to know is that when it comes to investments it's a personal race you don't expect everyone to have thesame mindset and goals as you do, because your goals and mindset when it comes to investments is shaped by your level of information you try and get in developing yourself. Your friend is panicking and selling out of fear due to his shallow understanding of how the market move from what I can see your friend is only reacting to the market which is not a good thing to do.

Your friend will eventually get tired of what he is doing and may decide to leave because he may not get the best when it comes to investments in Bitcoin because Bitcoin investment only pays those who are patience enough to wait.

[AYOBA]

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.

What some think of the Bitcoin investments is that some seem a bitcoin investment has an easy thing that’s why most of the people just jump into it without proper knowledge, honestly Bitcoin investments is all about patience and also have a little knowledge on how it works. Because is not like gambling that everyone can only come and start gambling, that’s why even the capital is nothing if the person don’t what the Bitcoin is all about.

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.

You see those types of people that set goal to hold bitcoin for a long period of time and later break it when they see that the price of bitcoin is higher, they don’t achieve big profits in Bitcoin why? Is because they wait to reach their long time target.

[Cryptoprincess101]

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.

Many people made the mistakes of not keeping emergency funds in case of unforeseen circumstances which made them sell off their bitcoin at some point just to attend to urgent needs. Bitcoin is more profitable in the long run so it is better to avoid whatever that will distract you from focusing on your target in the long term. Selling bitcoin to take profits is not bad but selling off everything will become problematic since you may not be able to buy at a price lower than your selling price. For those who also sold all their bitcoins, it is not a problem as well but not buying back after you have sold is the problem.

[Tungbulu]

Anyone who is focused on taking advice from YouTube or wherever else is not supposed to be called an investor because as an investor, you should be able to know how to run your thing and how to buy and hold. People who go around looking for info from such influencers are either day traders who are looking for signals to make quick profits, and they always end up landing themselves in the hot seat.

Very true, cos in the long run every investor would make decisions and devise their own strategy and approach based on their one unique position and not to copy another person’s style. Only a novice always depends on someone else to help them make decisions about their investment, investors who really understands how the game works call the shots themselves. It’s not as if taking financial advice or directions from others is wrong, but most of the decisions should come from those advices but from your evaluation and analysis.

[Wiwo]

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

✨

Sure individual behaviour matters a lot to how their experience will turn out to be, if you compare your friend that is constantly engaging with the market and you that you chose long term, you see that while he gave chance to temper with his balance as trader, either in profits or loses, you on the other hand will have your assets secured although not much profits merging but your rates of losing from the market volatile nature become slimmer compared to someone that constantly trade they assets.

[ASloveapg]

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.

Sometimes it is not always prober advising people on their investment stuff because you might be seen or labeled as someone against their progress so it better you let them learn the hard way because just as it's, experience is the greatest lesson to man.

At initial when you were trying to be nice to your friend by putting him through on the right thing he never believed you instead he thought you were against his progress but when things hit him so hard he realize better. Bitcoin is not something you we invest and be expecting some kind of magic to occur along the line, you must pass through due process ( investing with the right funds and in a long term) to achieve your goal.

Practice helps, and some people learn money management faster than others. While learning Bitcoin with experience takes time, it is also helpful to start. Having discretionary funds and common sense is helpful, but now common sense is not always so common. Many people can make wrong assumptions about their own knowledge and potential mistakes. Hopefully, about 97.5% of people will not want to lose money on their Bitcoin, and so their common sense will be helpful to them. They will be able to figure out discretionary funds and other necessary aspects as they begin their Bitcoin journey, and like many, Bitcoin will entice them into this learning process, especially if they have already started buying.

[abaeze]

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

You have explained very clearly that your friend's problem was behavioral, not financial. You cannot be successful in investing just by having money, but to be successful, you must have long-term goals, along with the ability to take risks and understand the timing, and you must patiently control your emotions and invest with discipline according to the plan. Only then can you expect your investment to be successful. So I think that mental and behavioral control is as important as financial knowledge and risk management in investing for ordinary people, but it is even more important for those like your friend.

[Byebyebtc]

His Goal shifted as a result of the profits flashing in his eyes, he shifted from long term investment to trading.
This is a case that happens to most people, at the beginning they are motivated to start Bitcoin investment and are totally ready to hold it long term, but this motivation most times comes as a result of impulse, and things that happen with impulse do not last for long because that initial motivation will not be there forever. with this, your emotions is fragile and that is what will cause these buying and selling.

Before any one moves into Bitcoin investment one of the qualities you must have is patience and discipline, you have to plan and be precised about your goals, if you notice that you choose to invest out of impulse of some Internet shit that you should have to withdraw from that decision at the moment, because that motivation wouldn't last.
But if you have heard about Bitcoin and you calm down to study about it make all you decision and goals before investing then that is the ideal investment.

[Sonia_123]

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?

✨

That your friend needs to wake up from his slumber to see bitcoin as an investment not trading center or gambling avenue, in other for him to make a proper decision about bitcoin investment, this is what most persons do pretending to be investing for a long-term but they rather becomes a trader as soon as the price of bitcoin starts increasing because they think they are smart and can outsmart the market and even you that is advising them because of greed and wants to be ahead of you financially.

Patience they say is a virtue that one needs to adopt when investing in bitcoin, he was not patience due to wanting to be quickly rich which made him faster than himself.

[icebar]

If an investor becomes greedy after investing, he will definitely face losses. Those who cannot control their greed after investing will never be able to fulfill their expectations from investment. Of course, everyone should gain proper knowledge about investment. But when someone does not gain that knowledge but invests on their own and tries to withdraw profits when they make profit, they will lose their wealth in the market in a short time. Without proper knowledge, there will be no difference between investing and gambling. There are some investors who are investors at the beginning, but at some point, they become traders, then sometimes they become quick sellers, then sometimes they become holders, and such a situation never seems positive in terms of investment.

[Loyang]

If an investor becomes greedy after investing, he will definitely face losses. Those who cannot control their greed after investing will never be able to fulfill their expectations from investment. Of course, everyone should gain proper knowledge about investment. But when someone does not gain that knowledge but invests on their own and tries to withdraw profits when they make profit, they will lose their wealth in the market in a short time. Without proper knowledge, there will be no difference between investing and gambling. There are some investors who are investors at the beginning, but at some point, they become traders, then sometimes they become quick sellers, then sometimes they become holders, and such a situation never seems positive in terms of investment.

Yes, you are right. Many people enter the market with a long-term mindset but when they see their investment making a profit, they get greedy and sell their holdings before the deadline. Many people invest with the required amount of money. This is never a good decision and those who invest with the required amount of money are basically gambling in the name of investing.

There are some steps to avoid gambling in the name of investing. Such as
. Investing with discretionary income
. Gaining basic knowledge about Bitcoin
. Building faith in Bitcoin.
. Holding it for the long term

Those who have these things or continue investing by following them are not gambling in the name of investing or are not involved in gambling