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Most parents choose a good environment for their children to grow up in, and frequently moving around makes it difficult to get to know the neighborhood. In the context of investment, I agree that a house is no longer a potential investment, as discussed previously. However, when faced with marriage, it's much better to build your own home and not move around for whatever reason. If others have different views, that's fine, because everyone has their own perspective, but for me it's better to settle in one house with a much better environment.Seeing a good neighborhood isn't easy these days, as crime is ubiquitous, which has led many parents to exercise a little extra supervision over their children, especially those who have their own homes after marriage. However, if someone moves in search of a more peaceful environment, I believe it's a perfectly worthwhile undertaking, but doing it repeatedly can be very tiring, as it not only impacts our children but also makes it difficult for us to adapt to the new environment.
As for investment, housing complexes strategically located near the city and business areas are ideal. Prices can also tend to rise annually, although this may not be the case for homes in rural areas, as urban properties are typically slightly more valuable than their rural counterparts. This is especially true if the village is a slum and lacks tourist attractions that could potentially serve as business opportunities for local residents.
There are many strategic advantages to living in any urban area, as you mentioned, I would like to add the social environment. Discussing the context of my country, I will first mention that in the past, the rural social environment was very beautiful and harmonious, which is now being lost with time. One thing is very important for living anywhere and that is the neighbors. If the neighbors are good, life is blessed and if the neighbors are bad, life becomes poisonous. Currently, in rural life almost every neighbor has jealousy and hatred in their mind. Even if I eat a little good food, everyone still looks at me. According to them why should I eat good food, live a good life, build a good house? And this kind of mentality is not there at least in urban areas. Anyone can live as they want, no one has a headache about it. But with the rate at which land prices in urban areas are increasing, buying a house in urban areas is an impossible thought for a middle class person like me.
That's called as crab mentality.In rural areas they give pressure to other people to live like them, without any improvement. That's why rural areas is only of the reason of structural poverty.
But, in urban areas, people are simply don't give a fuck about other people because they're busy with themselves, unfortunately this also make you can't feel a real human connection or friendship.
If you want to seek a balance, sub urban areas is the best.
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Most parents choose a good environment for their children to grow up in, and frequently moving around makes it difficult to get to know the neighborhood. In the context of investment, I agree that a house is no longer a potential investment, as discussed previously. However, when faced with marriage, it's much better to build your own home and not move around for whatever reason. If others have different views, that's fine, because everyone has their own perspective, but for me it's better to settle in one house with a much better environment.Seeing a good neighborhood isn't easy these days, as crime is ubiquitous, which has led many parents to exercise a little extra supervision over their children, especially those who have their own homes after marriage. However, if someone moves in search of a more peaceful environment, I believe it's a perfectly worthwhile undertaking, but doing it repeatedly can be very tiring, as it not only impacts our children but also makes it difficult for us to adapt to the new environment.
As for investment, housing complexes strategically located near the city and business areas are ideal. Prices can also tend to rise annually, although this may not be the case for homes in rural areas, as urban properties are typically slightly more valuable than their rural counterparts. This is especially true if the village is a slum and lacks tourist attractions that could potentially serve as business opportunities for local residents.
Every person in the world wants to live in peace in their own house. Because he can decorate his own house as he wishes, live freely, and in a rented house there is no freedom, unless there is a compromise with the owner of the rented house, he has to leave the house and the rent is constantly increasing. So today people who live in rented houses are only helpless because they cannot afford to buy a house. And not only in my country but a few people in the world are wealthy and others are middle class and poor.
Like with others seems risk management is one of the most lacking by everyone because even though they have a knowledge and skills but they get lack with the risk management is they didnt make it at all with the profit getting greedy with their trade instead taking profit they choose to be wait until where the market could bring it also with trading once you see lossing your money other makes fear and commit another greedy trades because they want to earn back their losses. I recommend always stick to the trading strategy that works on you still continuously learning to adopt.
Risk management is very important for a successful trading which you have presented very well through your speech. Risk management in trading brings long-term success to traders by reducing financial losses. Since capital is a very important issue for any trader or person, learning risk management is a very important issue, which helps a person or trader to increase confidence with discipline. Along with that, risk management determines the type and amount of capital used by a trader.This is a great topic, and indeed, in this life, we do need to implement such a system. If we could implement a system like the one you mentioned, it would certainly have the potential to improve our economy, making it progress over time. As you mentioned, healthcare costs are already funded, and everything is allocated accordingly. So, of course, we wouldn't have to worry about the hassles of life if the system you've created were implemented.
I often hear of people experiencing sadness and so on, and this is indeed caused by a lack of financial management and not following rules when receiving a salary, etc.
However, I will add a little, of course, regarding investment. One thing you haven't mentioned is land investment. I believe land investment is equally important, but of course, if we can afford it and our salary is sufficient. I'm sure this topic is very useful, Op.
Land is good investment of you want to invest for long term and you have a lot of money but many people have no big investment because they are doing job and they are running the circuit with that . They could not afford land investment as land is very costly and landlords have more interest in that but middle class people always try to buy a small house for living in which they will spend life and their family will be safe and they have not pay rent to any person. People want to invest in the thing which is cheap but best thing they should save money for the bad time which could be at any time.Thousands of people are trying to be rich and by investment in real estate industry but that industry is looking like flop industry for that couple of years.I often hear of people experiencing sadness and so on, and this is indeed caused by a lack of financial management and not following rules when receiving a salary, etc.
However, I will add a little, of course, regarding investment. One thing you haven't mentioned is land investment. I believe land investment is equally important, but of course, if we can afford it and our salary is sufficient. I'm sure this topic is very useful, Op.
I think that we should allocate our money into 5 categories.
1. Necessary expenses. I am talking electricity bills, food, school fees (if you are studying or have children), housing, healthcare, and transportation. I believe this group is where most of our money goes because we basically can't survive without these things.
2. Emergency fund. In cases of emergency, we should be able to get some money for it. Especially in countries where healthcare is not free, we should be prepared to pay if ever we get into accidents or we get sick though hopefully it never happens but still we have to be always prepared either way.
3. Savings. Some people save up for specific things like buying a better house, a better car, getting your kid into a better school among other things. Some people may just save for the sake of having money to pull for emergencies. I think emergency money and money I want to use into building a new home should be separate.
4. Investment. Aside from our day jobs where we get most of our money to pay for our necessary expenses, we should invest in assets to make our money grow. This could be gold, real estate or cryptocurrencies.
5. Luxury. When I mean luxury, I do not actually mean it has to be expensive. But I say luxury because there are things that we do not need but still want to have or experience like traveling or eating at a good restaurant. I believe that even though we should be smart in finances this does not mean we have to completely deprive ourselves of enjoyment.
Every person in the world wants to move from their current position to a better position. For this, the first thing that should be done is money management. And at the beginning of money management, it is crucial the analyze of income and expenditure. When a person's expenditure is less than his income, then the steps you mentioned will be ideal, not otherwise.1. Necessary expenses. I am talking electricity bills, food, school fees (if you are studying or have children), housing, healthcare, and transportation. I believe this group is where most of our money goes because we basically can't survive without these things.
2. Emergency fund. In cases of emergency, we should be able to get some money for it. Especially in countries where healthcare is not free, we should be prepared to pay if ever we get into accidents or we get sick though hopefully it never happens but still we have to be always prepared either way.
3. Savings. Some people save up for specific things like buying a better house, a better car, getting your kid into a better school among other things. Some people may just save for the sake of having money to pull for emergencies. I think emergency money and money I want to use into building a new home should be separate.
4. Investment. Aside from our day jobs where we get most of our money to pay for our necessary expenses, we should invest in assets to make our money grow. This could be gold, real estate or cryptocurrencies.
5. Luxury. When I mean luxury, I do not actually mean it has to be expensive. But I say luxury because there are things that we do not need but still want to have or experience like traveling or eating at a good restaurant. I believe that even though we should be smart in finances this does not mean we have to completely deprive ourselves of enjoyment.
And when a person's income is more than his expenditure, then most people give priority to saving and investing rather than enjoying it. But from my point of view, it is not at all right as you said that a budget should be kept for luxury. Because if we review a little, almost all people in the society die leaving about 70 percent of their earned money unused. So a person must be equally interested or focused on luxury or enjoyment as well as necessary expenses, savings, and investments, which I believe will make him more active in his work.
Spending up will be entirely be depending be affecting on different ways or various situations on which its not bad on spending up into those things that we do want but it doesnt mean that we would be just that careless on what we are that spending. Everything should be in control and moderation as always on which this is the most important approach no matter what.
Re: Savings and Investment, and how it can affect standard of living.
Investment is important no matter what the job is, be it education or business as you mentioned. So those who work hard need to do that effort in a smart way so that their efforts bring better results. One of those smart things is investing. Many people like saving, but they definitely don't like to take risks or don't have the ability to take risks. Savings give a person some financial security such as dealing with emergencies, small expenses or unexpected expenses that are very short-term. And those who set long-term financial goals will choose investing.
People who enjoy saving can only provide temporary relief, and they will never become wealthy if they only save fiat money. Meanwhile, those who think intelligently are the wealthy who truly enjoy making their money work for them year after year, whether by investing it in investments like Bitcoin or investing it in businesses that generate greater profits each month. Therefore, everyone needs to see how the rich work so that we too can advance financially in our own lives and ultimately become successful.Re: Savings and Investment, and how it can affect standard of living.
I often hear from my elders that those who work hard, suffer and work patiently today have a very happy future. So I think that instead of increasing the standard of living today, it should be used for saving and investing. So that we can ensure a beautiful future. So my personal opinion is to invest. Because if you want to do something productive in life, you must invest. There is no other honest means or way to grow in life except investment.
Investment itself can also be in many ways such as investment in business, certain education and also investment in knowledge so that we ourselves can have many ways to make changes to ourselves, the final results of which we can feel ourselves in the future. Because for now hard work and smart work must be really combined well so that whatever we do can have clearer results in the future even though parents in the past may have only suggested hard work without suggesting smart work. But for now we must be able to make a difference by doing smarter work in order to save our own time and energy.As the topic says, newbies are always rushing into the cryptospace believing it's a get rich quick scheme when they trade. What's the best advice that you can give to these newbies to help them in their trading journey.
My advice is that newbies should only trade with the amount of money that you can afford to lose and don't use high leverage because trading is very risky. Long term bitcoin investment should be your priority.
My advice is that newbies should only trade with the amount of money that you can afford to lose and don't use high leverage because trading is very risky. Long term bitcoin investment should be your priority.
Know the risks and make adjustments to the amount of loss you can afford and then improve your knowledge of trading strategies.
Remember, there is no way to get rich quick in trading as there is a high risk involved in the process and most people fail in trading because they always think they can make money quickly.
Improving skills is not easy because it requires patience and direct involvement, but if direct involvement is not supported by knowledge it is also wrong.
If you want to practice trading skills directly, use a small capital first so that when you master the market structure well, you can try to increase the appropriate trading level.
And the biggest thing for new traders is that this thread where there are many wise people and moderators give the right direction on this platform. If a newbie wants to trade, he should read the threads of this platform in full and again and again, and if he takes steps or progresses accordingly I believe he will definitely do well in trading.
As the topic says, newbies are always rushing into the cryptospace believing it's a get rich quick scheme when they trade. What's the best advice that you can give to these newbies to help them in their trading journey.
My advice is that newbies should only trade with the amount of money that you can afford to lose and don't use high leverage because trading is very risky. Long term bitcoin investment should be your priority.
My advice is that newbies should only trade with the amount of money that you can afford to lose and don't use high leverage because trading is very risky. Long term bitcoin investment should be your priority.
Know the risks and make adjustments to the amount of loss you can afford and then improve your knowledge of trading strategies.
Remember, there is no way to get rich quick in trading as there is a high risk involved in the process and most people fail in trading because they always think they can make money quickly.
Improving skills is not easy because it requires patience and direct involvement, but if direct involvement is not supported by knowledge it is also wrong.
If you want to practice trading skills directly, use a small capital first so that when you master the market structure well, you can try to increase the appropriate trading level.
I think that we should allocate our money into 5 categories.
1. Necessary expenses. I am talking electricity bills, food, school fees (if you are studying or have children), housing, healthcare, and transportation. I believe this group is where most of our money goes because we basically can't survive without these things.
2. Emergency fund. In cases of emergency, we should be able to get some money for it. Especially in countries where healthcare is not free, we should be prepared to pay if ever we get into accidents or we get sick though hopefully it never happens but still we have to be always prepared either way.
3. Savings. Some people save up for specific things like buying a better house, a better car, getting your kid into a better school among other things. Some people may just save for the sake of having money to pull for emergencies. I think emergency money and money I want to use into building a new home should be separate.
4. Investment. Aside from our day jobs where we get most of our money to pay for our necessary expenses, we should invest in assets to make our money grow. This could be gold, real estate or cryptocurrencies.
5. Luxury. When I mean luxury, I do not actually mean it has to be expensive. But I say luxury because there are things that we do not need but still want to have or experience like traveling or eating at a good restaurant. I believe that even though we should be smart in finances this does not mean we have to completely deprive ourselves of enjoyment.
Every person in the world wants to move from their current position to a better position. For this, the first thing that should be done is money management. And at the beginning of money management, it is crucial the analyze of income and expenditure. When a person's expenditure is less than his income, then the steps you mentioned will be ideal, not otherwise.1. Necessary expenses. I am talking electricity bills, food, school fees (if you are studying or have children), housing, healthcare, and transportation. I believe this group is where most of our money goes because we basically can't survive without these things.
2. Emergency fund. In cases of emergency, we should be able to get some money for it. Especially in countries where healthcare is not free, we should be prepared to pay if ever we get into accidents or we get sick though hopefully it never happens but still we have to be always prepared either way.
3. Savings. Some people save up for specific things like buying a better house, a better car, getting your kid into a better school among other things. Some people may just save for the sake of having money to pull for emergencies. I think emergency money and money I want to use into building a new home should be separate.
4. Investment. Aside from our day jobs where we get most of our money to pay for our necessary expenses, we should invest in assets to make our money grow. This could be gold, real estate or cryptocurrencies.
5. Luxury. When I mean luxury, I do not actually mean it has to be expensive. But I say luxury because there are things that we do not need but still want to have or experience like traveling or eating at a good restaurant. I believe that even though we should be smart in finances this does not mean we have to completely deprive ourselves of enjoyment.
And when a person's income is more than his expenditure, then most people give priority to saving and investing rather than enjoying it. But from my point of view, it is not at all right as you said that a budget should be kept for luxury. Because if we review a little, almost all people in the society die leaving about 70 percent of their earned money unused. So a person must be equally interested or focused on luxury or enjoyment as well as necessary expenses, savings, and investments, which I believe will make him more active in his work.
As the topic says, newbies are always rushing into the cryptospace believing it's a get rich quick scheme when they trade. What's the best advice that you can give to these newbies to help them in their trading journey.
My advice is that newbies should only trade with the amount of money that you can afford to lose and don't use high leverage because trading is very risky. Long term bitcoin investment should be your priority.
In fact, there is no easy way to get rich quickly, all that exists is to adopt dishonest ways. However, cryptospace is indeed preferred over other ways to get rich, but it must be remembered that the risk here is much higher than other means. And trading is a much more complex and risky thing, especially for beginners.My advice is that newbies should only trade with the amount of money that you can afford to lose and don't use high leverage because trading is very risky. Long term bitcoin investment should be your priority.
So those who want to become new traders must first know and understand trading well. So the basic aspects of trading such as technical indicators, chart patterns or market analysis must be known and learned well. For this you need to use various resources such as trading-related books, trading courses or journals. Risk management is a very important subject that is essential to learn and you need to learn to control emotions, which is one of the reasons for losses in trading. In addition to these, you can test the knowledge acquired by using a demo account, which will be able to bring both the concept and experience of the trading market.
Diversify your assets. Don't invest everything you have in a single asset. Strive for more passive income and diversify your assets, which is what you really need to do. Insuring your assets and businesses is a logical move. Because in the event of an unexpected loss or damage, insurance can ease the financial burden and save you from a major loss.
For example, if there is a fire at your workplace or a valuable item is stolen, you can compensate for some of your loss with insurance. There is always risk, so I think this type of protection is very important.
An ideal investor must have an investment portfolio, otherwise even if he succeeds from his investment, he will not always be able to maintain the same consistency. The investment portfolio mitigates the risk by distributing all the possible risks of an investor among different sectors, which is a very important issue for investment. Again to make the investor's portfolio profitable, it is very important to set objectives, select investment areas based on the ability to take risks, and keep investment costs to a minimum. In addition, insurance is very important to deal with risks, which plays an effective role in protecting assets.For example, if there is a fire at your workplace or a valuable item is stolen, you can compensate for some of your loss with insurance. There is always risk, so I think this type of protection is very important.
To avoid addiction, the traders must have the right knowledge about the exit point. Those who can create a specific trading plan and have the mindset to prevent those who take retaliatory trades after a loss, in a word I believe that addiction will never work on them. Along with this, a fixed time limit should be set for trading and special attention should be paid to not giving too much time. And at every step you should ask yourself, why am I trading or does trading feel stressful to me or can I enjoy something else other than trading, etc., which will play an effective role in controlling emotions.
You have expressed something so wise to be understood by all traders who may still rely too much on emotions and do not set an exit time after thinking about the right way to enter to run a trade. In the past when I first learned about trading, I also forgot to set an exit time after I entered at the right time, even though it is also a mandatory thing to be set by every active trader so that they can enjoy trading more without sacrificing more time in the market. Because other things also need to be considered in life so that we do not do everything with greater emotion.Addiction can come in any form and by any means, if we failed to properly positioned ourself to how we are trading, not only on trades can we have addiction, this also exist in every other thing we may be doing wrongly from the usual way it is expected to be done, we also have to consider that addiction in trading could come in many forms and also cost us, because we are not going to be addicted only, but also lose more trading fund at the cause.
To avoid addiction, the traders must have the right knowledge about the exit point. Those who can create a specific trading plan and have the mindset to prevent those who take retaliatory trades after a loss, in a word I believe that addiction will never work on them. Along with this, a fixed time limit should be set for trading and special attention should be paid to not giving too much time. And at every step you should ask yourself, why am I trading or does trading feel stressful to me or can I enjoy something else other than trading, etc., which will play an effective role in controlling emotions.Trading can be addictive, but not like gambling. Before someone gets addicted to trading, that trader must be a profitable trader, and since you already have a profitable trader, even if you are addicted to trading, then I will say there is not much trading since you have the knowledge of what you are doing and you are not predicting the market; ..
It doesn't matter which trader is profitable or unprofitable, since addiction in both trading and gambling is based on dopamine, which is released not only when winning, but also when waiting for a profit.
, for the most part profit or loss, doesn't have much to do with the addiction.When the button hits adrenaline increases, then when the trade turns out to be good, dopamine increase as well.
It's easy to understand how people can be addicted, but trust me most of the people who are good at trading never getting addicted.
Anyone can get an addiction but trading not everyone. If you are not good and you keep trading, you will continue to lose and if this continues, you will have no option than to quit.
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Since childhood, my father has been teaching me that I should never follow anyone in any work but I have learned a lot by watching people. That is, if I learn a task by watching a person, then I am satisfied when I follow my own rules while implementing it. If I make a mistake, I can learn from it, and it will be a lifelong lesson.Anyway, now let's come to the issue of risk. Before investing anywhere or starting a business, risk analysis is one of the most important tasks. Because if you are successful in risk analysis, you can be successful in business. Because the main prerequisite for business or investment is to reduce potential risk. And since investing in one field has the possibility of profit, just as there is the possibility of loss, a major step in minimizing risk is to decentralize investment. Which fully supports your opinion.
On risk: people are obsessed with analysis, but the true risk is in the blind spots: things you never thought of, the so-called unknown unknowns. Diversifying investments? Good. But we rarely discuss diversifying worldviews. Why isn’t “portfolio of mentors” as common a phrase as “portfolio of assets”? We have to divide our social and intellectual risks as aggressively as our financial ones, and no one puts that in a spreadsheet
You work all this to de-risk and then life throws you a black swan and all your spreadsheets are worthless. After a great loss, most people rebuild, but they never get back to the same "rational" attitude. They are not taught to be analytical only, but to be emotionally insulated. That is the gap that no MBA or trading app will teach: non-attachment. You would like to be good at business, learn to separate your self-worth and your balance sheet. The greatest underestimated hedge in any market? Being fine with losing, and not making it your identity. In the end, opportunity is not only economic, but emotional as well
One of the ways to avoid losing one's assets when faced with natural disasters is to have a duplicate of the seed phrase stored in a different place this may sound crazy but is is also a good way of saving the ass of the investor invade of issues like the one you mentioned. There are different disadvantages to having different duplicates but it is still far better than facing the risks of storing the seed phrase in the Internet because hackers can take over your funds overnight. Saving duplicates and hiding them from eyes of others help to ensure you don't lose everything when you encounter unforseen disasters.
It sounds simple but things are not as easy as we say. Where do we store seed phrases when we only have one home and don't trust distant friends or relatives? Or even if we own 2 or more homes in remote areas, who among us is brave enough to keep the phrase in a home hundreds or thousands of kilometers away from us?
No method is absolutely safe, everything has risks and we can only choose the risks we can face. Depending on the geographical location, surrounding environment,...we will have different suitable methods to minimize risks to the lowest level.
Anyway, now let's come to the issue of risk. Before investing anywhere or starting a business, risk analysis is one of the most important tasks. Because if you are successful in risk analysis, you can be successful in business. Because the main prerequisite for business or investment is to reduce potential risk. And since investing in one field has the possibility of profit, just as there is the possibility of loss, a major step in minimizing risk is to decentralize investment. Which fully supports your opinion.
For over a year plus I have been an active trader's mostly I trade on derivative market, oh yeah the most risky form of trading, since you can blow off your balance to liquidation if the market goes against your position, but that is not why we are here with this topic, but let dive into it straight away.
Future derivative trading is liken to gambling since both activities have similar outcomes and results which is either you gain it all your you lose everything, but with proper management one can still make something out of this risky trading pattern but once you hit the jackpot, it becomes almost a go to point whenever you want to trade.
So the question is, can one becomes addicted to trading same way gambling can be addictive?
If yes what are the sign to know that one is becoming a trading addicts?
When trading goes in a person's favor or makes a big profit, it creates some desire in them to take the next step. I don't know if it is called addiction or not, but it seems to awaken the desire for greed in people. And when people cannot control this greed, it creates addiction. It is a psychological matter. However, controlling it is very important to be successful in life. Although gambling also creates addiction in people, gambling and trading never seem the same to me. Because in trading, if you follow knowledge intelligence and statistics you can achieve success from it, which is the fruit of a trader's hard work. On the other hand gambling is based on luck, so in my opinion, addiction to trading will never be like addiction to gambling. And addiction to trading can be understood only when, despite the market situation not being favorable and after investing a certain amount of time and money, it is not possible to return from there.Future derivative trading is liken to gambling since both activities have similar outcomes and results which is either you gain it all your you lose everything, but with proper management one can still make something out of this risky trading pattern but once you hit the jackpot, it becomes almost a go to point whenever you want to trade.
So the question is, can one becomes addicted to trading same way gambling can be addictive?
If yes what are the sign to know that one is becoming a trading addicts?