Quote from: justdimin on January 05, 2022, 08:31:16 AM

Quote from: cheezcarls on January 04, 2022, 09:58:34 AM

I had some ups and downs last year despite that my monthly average income has increased a bit compare to 2020 during the COVID-19 pandemic. But of course, mostly I lost money because of the bad trading and investment decisions that I've made especially in memecoins and shitcoins without doing my own research.

Right now despite that the cryptocurrency market is unpredictable, my goal is to manage and diversify my finances very well. Coz' as of late, I didn't monitor how much expenses I've spent every week, month, etc. So I am going to make it a habit starting today.

It is normal, we all lose money during trading and 2021 was a weird year, we had so much volatility and it is normal that you may not end up with something special, sometimes we all ended up losing money in a big way. At the end of the day, we will be prevailing as long as we are in the crypto world, so all in all I have to say that there is this weird situation we are in where we could make some profit based on just yearly ups as long as we hold it, which is weird because not many things in life gives us this much profit with this ease and yet people are still not sure about it.

Like how many things in the world could you buy and do nearly 2x every single year? Bitcoin is one of them and yet people still lose money because there is still this feeling of "get rich quick", people still do not believe the long term benefits of it and that is why we still lose more money than we should.

Most of the time people lose their money in the markets because they are simply expecting too much out of them, they want to generate profits so quickly that in their attempts to make some quick money they get the opposite results.

It is ironic, if instead people went for a method to make profits that was slow and focused on the long term then they will get profits at a fast pace, it is counter-intuitive so I do not blame people for not realizing this when they first invest in the market, but after a few years I would have guessed most people would have figured out, but it seems this is not the case.