I wish, there was a specific topic in our school or college, where they would teach about the real aspects of life! Such as, how to make MONEY? I wish, I wish!
Think Before the Act
Sometimes when I look back to my past, I usually get to see two different sides of the coin. One where the mistakes which I made and how they have provoked me in doing similar mistakes over and over again. While on the other side, all the good deeds and decisions which have helped me reach to where I am today. When I consciously think about these situations it gives me chills in my spine. What a life it was!
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Nevertheless, talking about the worse incidents around my life. One of those were, taking decisions based on emotions. ANGER, was one of that state! I strongly believed, whatever came through my mind during that phase of emotions is actually the base feelings of someone including mine! Which later I realized how fake that was! Nothing positive comes from those emotions. Even though some them were the truth but at the end of the day these truths causes more damages than repair.
Laying out PLANS!
One of the most important aspect of making a positive impact on our decisions is to LAY OUT OUR PLANS. Without a proper plan, it is often difficult to make progress on the activities that we often tend to do. I in the past have faced this issue several times and I know how helpless it feels during those moments. Financial instability is a curse. It is difficult to break down the chain of poverty when you are walking towards progress from a ground level.
- What is going to happen in the next few months?
- What if my investment goes side ways?
- Who is taking my money/effort?
- What backup do I have?
- If I make loss, how will I recover?
- When will I take my profits?
& many more ......
Nowadays, whenever I make a new investment, I often ask myself these particular questions! If I get the answers in an appropriate way which would satisfy me, I would than jump in!
INVEST....
If I am being honest, sometimes it is difficult in maintaining that focus also it becomes a hassle. As lots of these above questions does not have an immediate/appropriate answer. Which leads to confusion! And that is when it gets tricky.
For example, a project in HIVE at the moment is showing some good potential in the coming days. I have liquid HIVE at my disposal. Also I intend to hold onto these liquid HIVE for long term. I am now calculating the outcome of my liquid HIVE investment. If I just keep the HIVE in my wallet without doing anything, it is going to stay there for nothing. But what if I invest it in this HIVE project! Since we are officially in a down market, I suppose we might see a dump in the price of HIVE in the coming days following the trend (BUT hive is unpredictable, the opposite might happen as well). But even after these investment, I have enough liquid to cover for me in the next coming days (if any bull market arrives). So I am literally making another wing for my investment and slowly I will be recouping my initial investment of HIVE from the project which I have invested in. And I get to make connections. Which will help me in long term. So that's a win-win situation for myself.
Changing the way of thinking (Long-Term)
I might be exaggerating but in long terms trades/investments I honestly made much more compared to my short term trades/investments. Yes, it might sound little odd but it is a fact. I realized it after loosing quite a lot lol. I am laughing right now but it does hurts bad! Way tooooo bad! So the mindset is what makes us who we are. I am in HIVE for long term. I want to be reach there where my words would count! It would have a value. To acquire that stage it would need nothing but consistency and long term thoughts. Not only that, since I have seen some bears and bull I do understand how it actually feels to have that power and loose that power! The exquisite power feels amazing but the other side of it hurts like hell. As if I am being stabbed in different places in my body with a sharp sword. I do not want to fall for that trap once again. Which is why, better change thyself when I can!
I would not feel great loosing money due to fact of my irresponsibility. Going through these nightmares of loosing money haunts me whenever I think about them. But I suppose, nothing can be done! It would be just a waste of time and effort! Which is why learning from those mistakes and utilizing them to forge a new path eventually is going to help me and indeed it has helped me as well. I am not sure how far I will go but what I can say till now, I am getting better. Hopefully the target will be reached sooner than expected!
Best regards
Rehan
Posted Using LeoFinance Beta
Specific subject to know how to make money? That's interesting, I think we got enough to know the importance and need of money, yeah apart from the needs something productive can be taught directly related to money, but we got resources for the other platforms, not for the crypto. Or maybe I haven't got the exact point of your sentence as I never thought of anything that would be teaching directly on how to make money, let's just print it? haha.
In the 'Laying out PLANS!' section, the questions you mentioned are so relatable, sometimes those questions lead me to anxiety and put me in a dilemma about what decisions to take. Truly, starting from the ground level is kinda hard, but yeah not impossible. Questions like "When to take profits" gets slipped from my mind due to "If I make loss, how will I recover?"
Again, during the long-term investments, I get shook during the short-term earthquakes, and so far I couldn't achieve any long-term investment properly. I still remember the rise of SPS to 1$, held that for a long time, and lost the opportunity for the greed of more. Now, I am thinking of my HP as a long-term investment, targeting the next bull that I am hoping for.
Nothing specific! Since I have not been to other country, I have no idea how exactly their way of doing things actually works in their daily life. Especially, when a graduate comes out of college how they deal with it. I have seen plenty of these people doing jobs which are below their pay grade. They should have been awarded or taken care of by the government or higher officials. Or atleast give them a proper way of living. Which is resulting "bekarotto" everyday. I might be exagerating in this matter but it does feels bad when I see a graduate doing foodpanda job and an utter less idiot riding a car since he has power.
I suppose we all learn from mistakes and avoid doing them in our future trades ;)
While always try to keep some liquid just in case. Even if you can collect at least 0.5, 1 hive everyday. I am doing for the last couple of days. So far it is showing a very low amount but it does not affect me that but slowly my stake is growing and I am loving it!
That's a bitter truth.
My friends who are in public still pass depressed nights thinking about what to do after graduating as things are getting complex in our country. Compared to them, I see the rays of hope, thousands of times better and clearer than them. Bhai, it's really scary how the students from the public universities, the top ones we ran after, pass their days in insecurity about the battle they have yet to face.
I hope they find their way in right direction before its too late. While they should also treat themselves as assets and keep up with the ongoing lifestyle. Change the usual mentality. Job is a much needed asset of our life but lets face the reality for 100 posts there will be 100 thousand candidates. So literally there will not be enough sits for all. Thus an optional strategy is always needed.
I mean there are opportunities everywhere and since everyone has access to internet there are plenty of ways to re-educate themselves if need be. I know it is difficult and I am aware how tough situations these people go through but lets face the reality. This ongoing recession will not stop until we get out of it. Even if we do not succed, we will learn sth from that effort. I only wish we do not waste our precious time. Do sth, learn sth and utilize the assets which we have atm. That's it! Sitting idle is not going to change anything!
A friend from RU regrets his environment, he says there is no scope for going out of the box, everyone is just familiar with the traditional retrace, has no willingness to broaden their mentality, and has no urge of exploring what's beyond the wall.
There are some who struggle to break the ice and tries to broader their boundaries but the surrounding makes it slower.
Yeah, understood! I hope they set themselves free from all those shackles and get to see the light at the end of the tunnel.
Really agree with you on a lot of things here. Especially the fact of schools teaching how to make money. As money is the essential part of our life, the schools don't teach much about it. You only get to know about these facts when you attend business schools.
But the subject of financial management and how to regulate your income shouldn't be confined to just business schools. Everyone should know about these.
And about the investment. I'm not too much of a pro in this field, but in the brief period I have researched in, I have also seen that long term investments are more profitable than short terms. Yes sometimes short terms can rake in good profits, but one little mistake can take all that away, and nobody is that foolproof. Adding all the mental stress, long term seems the better option, enter and forget.
Well, lets face the fact bro the education system will take a toll in the coming days. Especially, I am seeing a lot of changes happening in our country and some of them I really admire. I hope more changes takes place in the coming days. The system is slowly moving towards improving students mentality and that is important.
We might not have $$$$ to invest at the moment. But from what I can say, most of us have enough
timeat our hands. This could be turned into something productive. And including me whatever I have in crypto most of them were acquired by giving time and investing my energy in it. Yes, it takes enough time but it was indeed worth it!lets meet at the top buddy!
I've seen this happen with many others too, I really can't figure out how it works, but I guess it's the work and result of a calm and patient minded person or version of ours.
Yes, short term trades are exciting, that is why we must "risk it" or go all in just to quench our thirst, impulsive decision? Maybe, but at least we're taking home a few chunks of profit every now and then.
We then start thinking to ourselves that we're doing quite alright, somehow hitting the jackpot, so why not carry on in this path? But most of the times in the end, we find out that being in the long run would've actually been a better choice, leading up to a more fruitful result. It also would've been "hassle-free", a tad bit at least, since we wouldn't have to worry about day to day trades and the market.
Yet, I say it's the best to get involved in both, test out the waters and see what works for whom. For now I'm playing it safe and I am in it for the long run, but when I'll be capable of "risking it", I surely won't be backing out then.
We all are late learners lol. But it was worth it, I would say. It better to loose something and learn the lesson of their lives, than to loose everything and get nothing in return.
Going all in is kind of a no go for me atm. As after seeing my share of pump and dumps in the market I am better with having some stables stand by. But something is different for HIVE. I would get all in here if I have to. Although, in good and wise projects which has a good background and a great team behind it.
While getting lucky is probably one of those sentence which I would definitely like to hear! Honestly, luck is something which needs to be avoided in these crypto journey. Yes, we are lucky to get introduced to crypto. That is an entire opportunity and lucky event for us. But when I go into a trade and not knowing what happens next (atleast guess) I would say I might get profit once or twice but third time I am gonna loose the money. Been there done that lol
But either way like you said going through both these phases are indeed needed. I am still to face the phase where I can say I have enough to risk it ;) and it will not affect me whatsoever! Waiting for that day lol
We can call ourselves lucky I'd say bhai, because crypto is a realm that many don't even know about yet, and then let's look at ourselves, we know WAY MORE than the average joe. We have so much knowledge and insight about the current crypto scene and its potential, that to explain such things to a newb can sometimes be a bit overwhelming on them.
Some people can't even believe that such technology already exists or can exist lol. Many of the people with whom I try to talk about crypto just think that I'm making shit up haha. That is why I really don't bother nowadays; I give a few pointers on where to start and then I'm off, it might sound selfish, but my guidance is limited and timed. And at the end of the day, we all know that DYOR is king; so, no "crypto guru" can do a better job than we ourselves with these four magical words D.Y.O.R.
So, I can quite confidently say that we're quite early in this game. That is why we're somewhat allowed to experiment and to make a few mistakes along the way, slowly learning and staying updated, one step ahead. Because no matter the ups and downs, red or green, we'll always be heavily invested in this realm for a long, long time.
I know how you feel bro. I must say, it is one of those feelings where you are trying to give someone an opportunity of life time but they are teasing you for that. I mean that's kind of insane. Do help and get laughed at for that very reason. How futile that is lol.
Yup, being early has its advantages and disadvantages. Advantages are we know much more than any ordinary people and disadvantage is we know much more than other people. Yeah these situation is like a double edge sword. You know a lot but can not share it with everyone. Well, I already got used to it and I enjoy seeing what others say about stuffs which I already know/ had been through. I guess silence is indeed a big weapon ;)
Sometimes it's just better to keep our mouth shut and ears open. 😏
You are not along at this. This is me having finished university with no basic and useable idea on how to make money. Thanks to Hive, that has become my school, and where to raise funds for my business.
All my life, I've been taught to save for the future. Investment was never a part of it until few months ago I learnt.
Great post.
Well in the right project it can turn things the right way for us. Yup, Hive has been an eye opener even for me in this matter. I am also looking forward to the coming days. I have got more than I asked from HIVE and this is why I have been trying to give back to HIVE in ways that I can find out. I hope you give HIVE as much s possible (maybe TIME, your effort, share your knowledge with others and so on) and if it is worthy enough Hive shall be our savior in several ways.
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