The Consequences Of Spontaneous Situations Especially In Finance
Sometimes life requires us to be spontaneous with our actions and decisions and this creates fear and pressure of some sort. As humans, we're a bit laid back with our actions and decisions and this is because it takes time for us to process situations in life and procure solutions.
In the video, I referred to an auction house where people go to bid for things. In an auction house people are aiming and hoping to outbid themselves with a lot of money, but most times these people need to be spontaneous with the amount of money they're bidding because the time factor is limited.
They have very little time to think if the commodity is worth the price or if it's not.
However, in a bid to be spontaneously accurate, a lot of people have made decisions out of sadness, happiness, the fear of missing out as well as greed too. However, I talked about discipline and why it's very important. *Discipline" helps us create a balance in which our emotions don't influence things like our investment choices or how we tend to envisage worth or the underlying value that might come with it.
Why?
This is because there are so many times in life when we might be driven by pressure from external sources. The people around us sometimes influence us. They dictate the pressure we feel within. People who are fond of displaying wealth create a sort of pressure with a ripple effect, which drives some course of action from people who are meant to do things differently. This is to say that pressure is hard of our own making as there are so many parties involved. However, we cannot outrun some of the situations in life where we might feel pressure to make spontaneous decisions.
This is because we cannot totally control the narratives of our lives, hence we still have to aim toward a certain level of discipline. There are people in life whose profession requires them to make life-changing decisions on the spot, that could potentially make or mar and influence the outcome of the lives of other people, but these people are trained to do so and we cannot compare them with ourselves.
Even at this, these people make a lot of mistakes and we can only blame them to an extent because they're humans. We cannot avoid the "humanity" aspect of man's life to seek perfection, especially with issues relating to investment, health, and money. This is why we must try as much as possible to reduce spontaneous instances where our chances of failure are higher.
At the end of the day, there's no shame in walking away from situations that increases our chances of failure especially if we do not have the mental capacity to take the consequences that might come with these mistakes. We can train our minds to walk away, or we can develop them to stay. Irrespective of that, decisions made out of FOMO should be reduced, as we cannot completely eradicate it.
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I dislike occasions when I have to decide under pressure not to say I can't make under-pressure decisions but I prefer working and planning.
I take time to make a decision and highly unlikely I change my mind.
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Hahaha it also takes me time to finally conclude on a decision and that's because one has to be careful especially if that decision is going to be totally life-changing.. pressure can be a killer
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I agree and this is why sometimes one should block off everything.
Pressures can be good and sometimes they can be bad.
But when pressure comes with fear of rejection or failure then there is no need. It's better to shut out.
I totally agree that some people have more influence on us based on their role in our lives.
Guess what?
When I discover those people have a way of making me scared of either missing out or just making me scared of taking a risk, I shut them out.
My mother used to be like that. I happen to be the only child of my mother and all she thinks about is extreme safety. For example, she doesn't want me to swim because she feels I might drown but I need to learn how to swim so I can work offshore. So when I notice these trends with the people that seem to influence me, I try to remove such influence by just shitting them out.
I totally agree. This is why most people fail at forex and trading.
In medicine, this is called masterly inactivity.
I might not agree with the reactive part more than being proactive.
I feel one should be proactive in most conditions. It is when you are proactive that you can determine or foresee things before they happen.
For example, when you invest in a coin and you tell yourself that if it falls I am definitely buying more or if it rises I am definitely selling a bit. This is being proactive.
However, being reactive will be like, the market is falling let me sell immediately and take my loss.
Most of the time, reactive people do not know so much about the condition they are in or didn't prepare for the said circumstance.
This is true, some of these people take advantage of this influence to control our lives wrongly, making it difficult for one to be free of encumbrance
This is majorly true, we should always control situations rather than letting situations control us.
I mean, this alone is an act of intentionality, however sometimes, being inactive automatically makes is unable to take charge and what I was trying to say that sometimes we should let it.. trying to take charge of everything can have it's own consequences and brings pressure of it's own as well.
This reminds us that we're humans and the control we can muster would have it's limits. But mostly, proactiveness should be a watchword
I can understand your mom, sometimes in life we choose safety over the exposure to danger. Which could actually be potentially rewarding.
Thanks for coming through.
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Oh I get..
This was such a thought provoking video.
I really liked it
Yeah, such a twist to that.
Thanks a lot. I try my best, challenging at most times, but getting it done is the goal.
This reminds me of a bidding situation that a friend of mine participated before the pandemic.
The building that they are renting for their business was renovated and when it was finally opened, the "owners" decided to open the booths for bidding.
My friend who has the experience renting and doing business place her bid and locked it at a price that she knows that her business can afford.
What shocked them was a bid from a newcomer. This newcomer bid a price that is around 10 times the previous rent. And of course, she won the bid.
The old renters are shocked in disbelief and cant stop talking about it. I keep on hearing things like - "What are they planning to sell or what kind of business they're gonna be doing that can return more than that insane amount?"
I was smiling thinking that this newcomer was influenced by FOMO and GREED. I am sure, she has been thinking of her ideal returns without making any prior study. 😁
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Obviously the newcomer was overwhelmed by the not just greed, it was a spontaneous situation and they had to react by outbidding others and not doing their proper research on the worth of that particular commodity.. I think 10 times is too much and they might just regret it. Some people just slot themselves into the competition without even looking at the disadvantages or the potential loss they might accrue. I think it's crazy.
That person.. the newcomer will learn in a hard way..
Whatever she will learn, I hope it is worth the price.
But, NOPE! I don't think so. It is still pretty expensive. 😅
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I also think it's not wrong to walk away. From what I see, there will always be another opportunity out there. So it's not a bad idea to spend some more time thinking. It reminds me more of the stock market because there is always plenty of trades out there and you should only take the best ones you believe in.
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Yeah, there's no wrong in walking away, but then fomo is a huge type of fear that makes it difficult to be broad-minded in ways that's liberating. However we cannot blame people for thinking there won't be other opportunities. I guess it's a life thing. But I've seen many situations where I've walked away
Discipline makes us focus more on things that matter but this doesn't mean that things that will claims matters do. The truth is where we all get it wrong is us trying to copy exactly another person success story put pressure on ourselves not know that we can't follow exactly the same path but the target can be same. Discipline in better way that works for us with putting too much pressure on ourselves because pressure fit make a man craze.
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A lot of people succumbs to pressure and it's effect on them is huge. sometimes it causes panic and makes people change their course of action. We hope never to be in situation that requires spontaneous actions from one because it takes a lot to make tnr right decision. Thanks for coming through bro.
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I agree with this point because take for instance your friends leave in their own home while you stay in a rented BQ or probably they are driving a car and you don't ave one....there is this pressure that comes with it.
If that person want to do things differently he would definitely want to work hard to be like them or even more than them....but sometimes it can really be depressing and challenging.