Quote from: Mayor of ogba on May 29, 2024, 07:17:47 PM

Quote from: Uhwuchukwu53 on May 29, 2024, 10:26:07 AM

Quote from: AirtelBuzz on May 29, 2024, 09:12:33 AM

Quote from: Out of mind on May 29, 2024, 08:10:02 AM

Although you are right, we have to remember that the formula is the same in trading and investing. That is, invest and trade with the amount of money you can afford to lose. Only when you are able to lose the amount of money will your energy and inclination towards investment work, but you will not be emotional. Many times it is seen that people are afraid of investing, but instead of being afraid of investing, they participate in the investment with the money that they can afford to lose.

What you really mean is that both investing and trading involve risk. Those who are going to invest or trade should invest with risk because sometimes you can make money from investment and other time you can lose your money from investment. So invest as much as you can afford to lose.

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For example, if you can afford to invest $10, you can invest from here if you are not emotional about losing it. Never invest by force but invest as much money as you can afford to throw away, you may make a lot of profit at one time and may also lose. You should invest only the amount of money that you can afford from your point of view consistently, or else you will force yourself to never invest. However, if you are investing for long term then it must be sustained and once you can get huge profit from it then hold it.

To be successful in investing you must first control your emotions. As per your example, let's say you bought a coin worth ten dollars, a few days or a week after the purchase you saw the price of that token or coin dropped, then you sold your coin on impulse even though you thought that the price of this coin might go up. If not, then none of your investmentNo value left.So you should plan your investment in such a way that even if you suffer temporary losses, you will be able to hold it patiently for a long time.

Yes it's good that one should plan before investing against temporary loss because the market is not a stable one, but one thing any investor must note is buying the real coin not all coin in the market is worth investing and holding or exercise patient when it's dropping that is why it most advisable here to only invest on BTC even if one seek to diversify it should be a coin that is having some marketing stability , because many coin is pump in day in day out and virtually all is no where to be found in the market investing on such and holding with hope of future rise can course you serious pain that can't be cure the best is to take the little this left when the market is falling most if the investment is coin that can't withstand the market force after being pump. But if the investment is on BTC one don't need to border as long you can hold for long term and keep accumulating with the strategy mostly the DCA you will still recover the drop in the market.

This thread is primarily for buying the dip and Hodl. Bitcoin is a real asset and also in the asset class, so if you say one should invest in the real coin, I will say you are sounding like one who is advising people to invest in altcoins. Why do you want to put your money where you know it is not worth investing in? As a newbie, it isn't good for you to diversify your investment; you should concentrate on accumulating your bitcoin so that you have enough quantity of bitcoin without getting distracted. The only time you should diversify your investment is when you have accumulated the quantity of bitcoin you want to accumulate. If you are diversifying your investment, it shouldn't be on any other coin but on a physical business, such as real estate or selling commodities, so that it will help you to hold your bitcoin for the long term.

Shitcoins are indeed a complete bad news for any investor, and the problem with lots of people who claim to be investors is that, they believe feeling their bags with variety of shitcoins would give them more advantage for more profitability, which is quite a flawed mentality.

I've been in the crypto space for quite some time now and I've come to realize that getting involved with shitcoins would only mean one thing, and that's gambling with your money, and we all know what the outcome of gambling usually is.
You'll end up losing your money and that's it, I know a lot of people would say they've made cool profits via shitcoins trading but even if this is so, what exactly do they usually use the money for? They'll simply buy more shitcoins and that's how they'll lose it all.

Diversifying one's investments is indeed an amazing strategy but just as you've rightly stated, filling one's bag with shitcoins isn't the best way to diversify, whoever tells you it is, is simply lying to you or is naive.
There are real life assets that also have long-term potentials just like bitcoin and you can consider those other options to diversify. Gold is an amazing option, it's been in the market, even long before bitcoin came into existence, and you can also consider it for its long-term potentials too just like bitcoin.
In China today, Silver is also a hot cake and quite a viable option for investment diversification.

There are so many of them to be considered.