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Right time to invest in crypto

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16 minutes ago, Adedunmola said:

No professional trader will ever tell you to buy this or that will 100 percent assurance that the trade will go north. All i can say is that we are in bear season, and depending on the strategy you adopt, its good if you buy a bit of your desired coin at this current level. We might see more down, but its certain we are very very close to the bottom.

This. Even professionals will make bad trades and have to take losses in order to not make even more losses, so nobody would be willing to give any recommendations because you need to be able to respond to the changes in the market, which you obviously couldn't do in those cases. In fact this is kinda the reason why in many countries those working in the financial sector are forbidden by law from giving any investment recommendations in the first place.

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15 hours ago, hj27 said:

The good news is that as we go down we are nearer the bottom ¯\_(ツ)_/¯

That's not very good news though :P

But I don't see any need to worry about the current situation, and instead consider it a new opportunity to buy in again if you missed last bull run at the end of last year. This year is still in the beginning, and this is a long term game, it's good to remember that.

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I had decided to limit the fiat I invested in crypto to a certain amount. I am considering increasing for the reason you mention (taking into account the usual rules about controlling what you can lose...)

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On 4/1/2018 at 8:06 PM, hj27 said:

I had decided to limit the fiat I invested in crypto to a certain amount. I am considering increasing for the reason you mention (taking into account the usual rules about controlling what you can lose...)

It's good idea to have a set amount of money you put aside each month, and specific amount you can play around with like that. It's just important to stick to tat amount as otherwise you'll most likely end up spending what you shouldn't. Personally I try to put aside like 20-30% of my salary, as that wouldn't affect my life otherwise, but in long term should bring in some really nice gains.

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4 hours ago, Cahoot said:

It's good idea to have a set amount of money you put aside each month, and specific amount you can play around with like that. It's just important to stick to tat amount as otherwise you'll most likely end up spending what you shouldn't. Personally I try to put aside like 20-30% of my salary, as that wouldn't affect my life otherwise, but in long term should bring in some really nice gains.

You're  so on point. I started crypto with a loan, though I've fully recovered all with enough profits, but I won't advice others to do like I did. The best way is to have other source of income aside crypto. With this, you can be patient even in bear season like this. As for me, I've adopted to be investing about 15 percent of my monthly income in crypto for the next 2 years. Let see what where that take me within that period. 

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19 hours ago, Adedunmola said:

You're  so on point. I started crypto with a loan, though I've fully recovered all with enough profits, but I won't advice others to do like I did. The best way is to have other source of income aside crypto. With this, you can be patient even in bear season like this. As for me, I've adopted to be investing about 15 percent of my monthly income in crypto for the next 2 years. Let see what where that take me within that period. 

For many of us crypto is not, and will not be, a viable source of income. A little pocket money at best, so it's good to handle it as such. Personally I wouldn't mind getting paid more in crypto, but at least for the time being having pay salaries in fiat just makes life much easier, but maybe in the future we end up having some crypto that we can actually use in our day to day lives.

Also good for you getting rid of the debt, that's the way to go!

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4 hours ago, Cahoot said:

For many of us crypto is not, and will not be, a viable source of income. A little pocket money at best, so it's good to handle it as such. Personally I wouldn't mind getting paid more in crypto, but at least for the time being having pay salaries in fiat just makes life much easier, but maybe in the future we end up having some crypto that we can actually use in our day to day lives.

Also good for you getting rid of the debt, that's the way to go!

Call me "lucky one" you are not mistaking. I recovered the load within two weeks I invested it. It coincided with last year crypto boom of may/June. 

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If you're in crypto for a longer time you will start recognizing patterns. First year is mostly learning. Once you learn more it will get easier to make some money. 

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Yeah. As at that time it was good cos most coin were at their bottom,but now I will advise you can ladder buy to be saver side. 

 

Crypto generally is actually hard to predict. 

 

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On 4/2/2018 at 6:54 PM, Adedunmola said:

You're  so on point. I started crypto with a loan, though I've fully recovered all with enough profits, but I won't advice others to do like I did. The best way is to have other source of income aside crypto. With this, you can be patient even in bear season like this. As for me, I've adopted to be investing about 15 percent of my monthly income in crypto for the next 2 years. Let see what where that take me within that period. 

Hmmmmmm, lemme say you are soo lucky to enter during the crypto boom as u said its not advisable,am a living witness thank God for my regular monthly payment that paid the loan. 

 

Now I will adopt your new method of 15% from my monthly income for five solid years because I am certain crypto is the FUTURE. 

 

 

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21 minutes ago, kayboy205 said:

Now I will adopt your new method of 15% from my monthly income for five solid years because I am certain crypto is the FUTURE. 

 

 

I think this is a very good method if it can be sustain

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2 hours ago, dRealCrypto said:

I think this is a very good method if it can be sustain

 

1 hour ago, Gmercy said:

I belief so too only if it can be sustained

What it takes is a very strong DISCIPLINE. 

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5 hours ago, Adedunmola said:

 

What it takes is a very strong DISCIPLINE. 

Why do you think that? I think it's intelligent and you're probably not making such a big effort if you're not really in a complex personal situation...

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2 hours ago, hj27 said:

Why do you think that? I think it's intelligent and you're probably not making such a big effort if you're not really in a complex personal situation...

I don't think being intelligent can't replace the works of discipline. Your intelligent can give you a cherry in the market but it takes discipline to come out of the market when the market indicators say so. 

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8 hours ago, hj27 said:

Why do you think that? I think it's intelligent and you're probably not making such a big effort if you're not really in a complex personal situation...

These are not mutually exclusive things. The point here is that if you decide to stick to something like 15% of your paycheck to savings / investments of any sort (which you should, and should have done ever since you first got paid for anything), you need discipline to stick to that plan, as otherwise it'll easily change to "Oh I'll just put a little less this month as it's been a bit harder month", and before you notice it you are not saving anything anymore.

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3 hours ago, Cahoot said:

These are not mutually exclusive things. The point here is that if you decide to stick to something like 15% of your paycheck to savings / investments of any sort (which you should, and should have done ever since you first got paid for anything), you need discipline to stick to that plan, as otherwise it'll easily change to "Oh I'll just put a little less this month as it's been a bit harder month", and before you notice it you are not saving anything anymore.

You've just captured it perfectly. I used to be like that but not anymore. I'm a bit tough on my decisions now, especially those pertaining to my finance. DISCIPLINE! 

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20 hours ago, Adedunmola said:

You've just captured it perfectly. I used to be like that but not anymore. I'm a bit tough on my decisions now, especially those pertaining to my finance. DISCIPLINE! 

Depending on how you get paid, you could probably make these sorts of deductions be automatic, so that you wouldn't even have the chance to stop the money from going to where it needs to go. I don't have such myself, so I need to manually send portion of my income to savings and investments, but so far I have managed to follow that path well, and it's really great to see my networth constantly growing, month after month, with just small deposits every time. The main points to understand is that it all takes time (decades), and that you need to make your money work for you (compound interest).

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