Quote from: red4slash on Today at 07:15:50 AM

Quote from: Bananington on Today at 05:08:23 AM

Quote from: Litzki1990 on Today at 03:37:38 AM

The prerequisite for investing and holding it for long is to first build courage in your mind and develop the mentality to take maximum risk in the right place. When you have courage in your mind and inclination to take risks, you can invest and hold it for a long time.

Keep your investment for long term and set yourself a goal I tell you your investment will never let you down but will give you better than your expectations.

While you make a plan to hold and be able to get more bitcoins for yourself, many obstacles will come along the way to make sure that your target is missed. As you plan, make room for flexibility when necessary, so if your plans go sideways, or is being wrecked by challenges, you will only be bothered by change in plans, not a change in goals that you have set for your investment. Changing the plan happens, but changing the goal of investment should not happen except it is to set a higher goal.

Therefore, so that our plans are not disrupted by something that may come in the future, we must implement the plan along with the risks. I mean we have to think about the worst things in our plan, so that when we are doing the plan we made at the beginning and then there are difficulties that come, we are ready with it and we don't need to think of another plan because we have prepared a solution at the beginning. That's also what I'm doing, for example now I'm doing DCA and now my financial situation is fine for then just continue to do this strategy. But I prepare like fiat money savings for something bad to happen to me later (hopefully not) so I don't have to plan to sell assets because I have money in reserve.

Everything needs a proper plan. No matter what you do, if you plan ahead of time, you'll make more mistakes and feel haphazard.

When engineers construct a house, they do not start building the building directly, rather several engineers come together to first design a building and then they work according to that design. Just as engineers need to design before building something, we who are investors need to have a prior investment plan before investing. If we hold a coin for a long period but sell the investment again when we need, it is not the right thing to do and the only reason why this wrong thing is not planning ahead. An investor should invest by thinking about how much money we have in reserve and how much money we invest so that we don't have to sell our investment later. If I invest wisely and if I have a plan I will keep my investment for a long time and if I invest in that long term plan then no matter how many problems we face or economic crisis we will try to overcome that economic crisis in some other way.

From what I understand about investing, I think you should invest in a long-term plan, even if you are late in investing. If we do not invest in a long term plan then we will not understand much about our profit and loss by investing because to understand the amount of profit or loss we need a big change in the market and that change must happen after a long time.