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.
The financial foals should be parted into two, short-term and long-term goal then only it is possible to achieve them one by one but most of the retail investors including
crypto community set their goals longer but they miss to see the obstacles in the near future such as sudden changes in the market which will make them to panic and make wrong choices which will go against what they planned initially.
Yeah, but we are not talking about crypto here. Fuck crypto. We are talking about bitcoin in this thread, and quite a few of the long term principles fit with bitcoin, but if you try to apply the same principles to some vague bullshit ideas and who the hell knows what you are even talking about if you use the term "crypto?"
If you meant to say "bitcoin" then why didn't you in order that we can at least know what you are posting about? Are you posting about bitcoin or something else? You did not use the word bitcoin at any one point in your post.
First of all, let me be clear I am not here to buzz any shit coin and I am also the follower of HODLing strategy for years, as someone who gone through multiple cycles of bitcoin and I tried to suggest them to keep their goals realistic so then only it is possible for them to achieve their financial goal.
The financial foals should be parted into two, short-term and long-term goal then only it is possible to achieve them one by one but most of the retail investors including crypto community set their goals longer but they miss to see the obstacles in the near future such as sudden changes in the market which will make them to panic and make wrong choices which will go against what they planned initially.
I think I will disagree with you on this becausen in as much as our financial goal on investment is making profits but considering a short-term investment as a back up investment is not ideal for me.
From your statement you mention the obstacle or challenges for long time holding is a sudden change on market, perhaps you are misunderstanding short-term to long term holding because there is know way you could be affected by a sudden market movement when you are holding for long.
Well it depends on your definition of short-term investment because as an investor the only way to be at peace and free from price panicking is by holding for a long time because achieving anything on short-term investment on Bitcoin is like a gambling but if you hold you will likely see the benefits.
I told in terms of a broader perspective not just for the crypto and its important to note that I am saying it for the retail investors.
This is a fair clarification in terms of some kinds of investment principles and practices are going to be generally applicable across all forms of investing... There still are needs to distinguish between timelines, which you seem to be pointing out... and so there might be some kinds of investments that people make that have very short timelines, and so the shorter the timeline, then maybe the distinction between investing and trading (even gambling) will become blurred if people are getting in and out of some of their investments because they consider them as short term plays.
Parting goals into long-term and short-term can also be applied to HODL, for example, let's take one year as short-term and 10 years as long-term and their goal is to accumulate 5
BTC. It is important to have a goal of accumulating a certain amount for every year according to their risk tolerance then only it is possible for them to achieve their ultimate goal of accumulating 5
BTC.
If they don't have any plan but only have the goal of accumulating 5
BTC at the end of 10 years their goal may look out of their reach so set the tone gradually then only it is possible to reach great heights as a bitcoin retail investor.