Some days ago, I was watching "WHO WANTS TO BE A MILLIONAIRE" and I was a little bit excited because it was one of those shows that thrilled me back in the day. The excitement is born from the fact that there's a connection between loss and gain which is mostly incurred by human emotions.
The excitement or the agony from the faces of the contests when they win or lose often signals triumph or regret. Some people get to a certain figure but lose like 75% of their earnings because they got a question wrongly, some people never took the risk and stuck with what they've earned rather than forging ahead and risking the earnings they already have.
The Choice You Have To Make
Some people are caught between choosing contentment or greed, people who overestimate their abilities without checking their worth. We have people who have a split second to make important decisions and they end up getting it right.
At the end of the day, there are times we should be greedy and there are times we need to show the value of contentment, when we misplace one for the other, we might end up losing even if losing wasn't our intention the beginning. Losing and gaining is part of life, however, we can not incur or accrue any of them, without making decisions and preferences, this is why indecisiveness signals stagnancy.
Managing money and life are already risky and this is why we have to ensure that every one of our actions and decisions is tailored to reduce the risks in our lives already. However, risk can be madly rewarding no matter if it's calculated or uncalculated.
But, does this mean we should throw away caution, and lose the positions we've painstakingly built over time because of the contemplation that we could gain grounds, even more than we're bargain for?
Well, I leave this to you to answer. However, one thing I often do is, I do not imagine the millions of dividends of a risky venture and this is because this imagination can create an adrenaline rush.
How Much Repercussions Do You Need To Mitigate?
Nevertheless, if I can mitigate the repercussions of a risk, then I go ahead with it, this is because taking calculated risks is more or less like being prepared for the best but ready for the worst.
What do I mean?
The prospect of more money can make people dream of expectations, goals, and desires. This means that one of the things that drive us towards money is the endless materialism we could achieve, the lives we could lead, and the endless possibilities that come with it. This is why we often lose our discipline when we fail to balance the aspect of consequences or advantages. Discipline is one of the training that quells our potential to be erratic with our choices.
However, it's difficult to see what you could potentially achieve even if walking away seems to be the most plausible thing to do. How so? The process of moneymaking begins in the mind, the motivation to chase and grind often starts from our imaginations. This is to say that the capacity we often show is gotten from our mental drive but when it becomes misplaced, we lose the main motive to a far more dangerous motive.
Let's talk about the aspect of risk. Before profit can be substantial, the risk would need to be weighty. However, if we take bigger risks, it takes away our leverage of chasing the smaller risks in life that are needed to get things done.
50/50 Go big or go home?
One problem with taking big risks is that it can scale you up the ladder with the same percentage opportunity of totally bringing you down. This is why gamblers put their money across the table putting their trust in various bets so much that even they might increase their odds while detaching them from getting emotionally busted from making mistakes with big decisions.
We lose every day in our life because we're all potential gamblers, the reason we hardly notice this is that we're not fazed by the repercussions that might come from the consequences of bad choices. We hardly notice that we're gambling in life and this is good.
The Crazy Urge Of Marketing
Now, the internet has a way of shooting people with that dart and this is why it's integral to cultivate discipline in the face of excessiveness. First, many establishments make it seem as if money is easy to make. I've seen Ads online that try to market their products by showing people the money without showing them the price they might have to pay, this is why we ignore risks because the rewards seem too good to be true.
At the end of the day, risk management is an aspect of discipline that's underrated.
Sometimes we indeed want to gain the world, I mean the thoughts of having everything can be liberating, but the thoughts of having nothing.. losing it all can act as a reality check. However, there's nothing lethal as losing everything, it's just that ground zero is a place that's harder to build from
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There has been countless times where it felt like, Yes, this is the opportunity that I need. It will turn my life positively and that even in an instant. But the reality was something different. I always felt like I was not being given enough opportunity but when I looked back and saw what others similar to me have been through, I understand how blessed I am.
Yes, the urge to make things work in our favor does really makes us choose from right or wrong or sometimes it does makes us over confident, I have been through that situation but in out of 10 situation I was right maybe twice or three times. Which is why instead of luck I have started to build up my back bone in this field. And whenever I am taking decisions nowadays, its based on facts, longevity and ROI. So far its going great.
Luxury can be obtained at any point of our life that's the easy part! Maintaining that luxury for the rest of our life that's the most difficult part I would say!
Reality is always different from our expectations and this is because our expectations are flawless but our reality is full of flaws so I understand when you say there are time when it seems like you've finally got the opportunity to change your life and then everything changes and it's not like we expected, but then, like you said, for people like you and I we have to opportunity to build from the scratch, no everyone has that advantage and as for me I'm thankful that Opportunities will still come.
As destructive as greed is, I think it also has certain benefits, particularly in cryptocurrency trading, where it has enabled many people to make three times their initial investment. However, in my opinion, contentment is still the greatest option because it will allow you to avoid the possibility of losing everything.
The 50/50 possibilities on Who Wants to Be a Millionaire have assisted a lot of people, especially if luck is on their side...
Is Frank Edo still serving as the show's co-host? I haven't even turned on my TV in months, let alone sat down to watch any show. lol
Well the truth is, greed is not overly bad especially in some situations like crypto as you've mentioned. But then, we still need to be disciplined if we're to be greedy to some extent.
Yeah, frank Edoho still anchors who wants to be a millionaire and I watched on TV some days ago although it's no longer sponsored by MTN.
Oh, how have you been? Long time
I've been doing fantastic lately, and I believe I'm totally back at Hive now that I'm back in Lagos.
I love watching that show too, it's so cool when someone just keeps being lucky and winning but sometimes it's hard to know when it's time to walk away but it takes great minds to do that.
For me, I will always choose to walk away but not without trying though.
Beautiful as always 👌.
It's difficult to walk away though especially when you look at how far you can go, the reward you can get and fail to balance it with the possibility that you might fail. Hahaha takes discipline to walk away.
As in ehn, the thing is damn hard, the last one I watched, the girl was already on one million going to two and she decided to walk away because she was not sure of the answer. You know they asked them what their answer would be if they had to chose and the girl chose the right answer 🤧. I almost cried for her but it is still better than loosing everything, hehehe.
Hahaha this situation basically explains the fact that we need to calculate if going big and risky wouldn't be our demise, it's better to lose a prospective one million naira more than losing the one million naira already secured in the bag.
Yes oo, she did not regret it too much though because she was able to get to have of the show and that was part of her dream and I think that is one thing that determines whether or not we want to go on too.
The greed to want more versus contentment, I think for me as much as I want more, I wouldn't want to risk losing everything I have gained, this is where managing our money comes in. Lose it all or take a risk of winning or losing a portion of my holdings.
There's the go big or go home saying, and there's also working with the little we have for increment with instinct playing a role as well.
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This is absolutely true, I watched a girl on WWTBAM lose everything she actually earned because she took an uncalculated risk despite seeing the red flags that she might be wrong. It's crazy though.. it's crazy how people want to sacrifice what they have to get what they're not sure of.
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@josediccus you just reminded me of something that I still haven't forgotten. So some weeks ago, someone sent me a booking code to bet. I did and I was so lucky and won. My first time to bet actually. He sent another one and when i saw the potential winnings and that it ran in millions, I used the whole money I won to bet again and lost. I hated myself for using all the money.
That's how bad greed is. But then what if I won I sure wouldn't have had the regret. So what I am saying is that greed can be a good and bad thing. What I feel is important is contentment. You need to learn to be contemptuous and use your head. That's the only way to survive.
If greed is not disciplined we can run into consequences that might mar us from every investing again anywhere. If the money you had betted was your personal money and it aast huge, you might develop a phobia for investing anytime in the future because you will be scared of loss. This is one of the biggest consequence of uncalculated risk. Calculating the returns can make us switch off our antenna of stability and safety.
Good
Gambling and greed are everywhere and I find that it tends to hurt me more than it helps me. Whether it be trading stocks or in games, it really hurts when it goes against you and you lose because of your gamble. Everything has a risk and people should try to figure out what that is and if it's right for them.
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This is true, at the end of the day, I think taking risk is an individual venture, and everyone should willingly know what works for them. I have been been lucky with gambling
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It's so exciting but I will rather walk away
The program who was to be a millionaire was on of the educative programs that time. It's not as common as it used to be because many activities have taken over and busy to watch it.
Back to the topic, naturally humans have this nature of greed in them with little or big(you can quote me wrong)
Starting from beginning God gave Adam and eve all the fruits but they wanted that particular one God said they shouldn't eat.
Now when it comes to money, it plays more there. You already have profit but you wants to get more. That's why they said the rich want to be richer
I have lost money sometimes just because i wanted more and eventually lost everything . Sometimes I mange what i have and it exceed even when i leave the market. Talking about trading here.
But like you said knowing when to be contented will really help.
The logical answer would be to take caution and think of the possibility of losing. However, as per my experience, it is very different when we are in the situation. Greed might be too strong that it could cloud our judgement.
I get this kinds of ads a lot. I just ignore them as I sense that it is too good to be true. 😊
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