Trading or investing in CryptoCurrencies is a kind of psychological warfare against it. Stock traders often say that investing in traditional markets requires extraordinary mental development. Breeding is that when the market is unstable, how can they control themselves? How to prevent stupid decision making and continue with strategy..
If traditional commerce requires mental discipline, the CryptoCurrency trade requires a steady and tolerant stand-off (= Star Wars movie heroes). The CryptoCurrency market is more unstable than any other market that the world has ever seen. You must be like Yoda (= the Star Wars character) who cares for yourself at the top of the mountain against the meteor rain..
I've been in this space for many years. I started as an investor, but my curiosity became more and more. I work with an accelerator for selling tokens, and recently I joined the project team I love. My experience has made me understand the market..
Well, the point is that this market is almost entirely an emotional market and moves in with emotions, which indicates that the market is not always going according to logic and reason. In CryptoCurrency, small and small investors are more likely than other markets. To understand that the CryptoCurrency market is very emotional, you can compare the bitcoin price chart with the bitcoin word search chart. The charts are very similar, the higher the price, the more Google searches have been..
In a market feel, price movement is also emotional. To win an emotional market, you must remove your feelings from trading..
The reason I tell you all this is that you know that it's not always what you are doing, but what you do not do. When you need courage and patience, you will precisely refrain from it. When the bitcoin price comes down, and you're seeing down the value of your assets, it's hard to keep calm. When the market is bloody, you may wonder, even if never returning to Beet Covey's price before. I do not have a magic ball, but I can safely return it to my former glory with reasonable confidence. Take these three essential points for success in the CryptoCurrency market..
If you're lucky enough, when the market gets involved, it can be a good time to increase your investment. Market price corrections, or "Creeping E-Commerce". I almost always keep some bit of Kevin or Fiat in the market when the market falls seriously - but my obsession with buying down the slope has led me to miss out on many opportunities for big wins..
When prices are declining, you are waiting for the crash to fall, or the bottom of the down trend, until you buy. It is difficult to obtain the most accurate floor of the downside, which is difficult to get like a falling knife..
When trying to find the exact price of the floor, you lose a lot of lucrative deals. It's been out of my hands to count how many times I've been waiting for a deal to enter a deal. In these excessive expectations, my losses have always been more than good. Sometimes, if you are planning to enter into a deal, instead of waiting and finding the exact price of the floor, it is best to enter the bargain near the floor price..
No matter how much you have a better technical analysis, you probably measure the floor more accurately, but accurate prediction of floor prices is not very important. In the digital currency market, the majority of active investors are small and small. You are not Wolf of Wall Street and you will have more digital currency if you overdo it..
Everyone has done this. Do not be ashamed. This is human's property. For most of our time, we have sold our CryptoCurrency to buy another digital currency at the lowest price in the hope of raising its price..
An emotion called FOMO, or the fear of losing, will make a person sell his CryptoCurrency at a low price and invest in another, digitally-priced currency. Fear of losing is a very common feeling in the stock market and CryptoCurrencies..
You bought the XYZ digital currency for $ 0.25 and you thought it reasonable to do it yourself. Read the graphs and get ready. You did not even try to look at the floor because it's a long-term investment, so you're having trouble getting in and you're completely calm..
Two weeks ago, the XYZ CryptoCurrency price is still $ 0.25. Your questions about your choice will start to buy this currency. Slowly, your mind moves toward the thoughts of the elderly about the concept of money. And as much as your asset price stays on the floor instead of going to the moon, these thoughts become stronger..
Two weeks have passed, and now the XYZ CryptoCurrency has reached a low of $ 0.20 a bit. Your friend, Ali, who just came to the world of cryptos just a week ago, speaks to you about a nonsensical CryptoCurrency called ABC and its future. You laugh at her choice. Then, Ali bought the ABC CryptoCurrency, and only six hours later, the price of this CryptoCurrency sharply increases to about 70%. Ali now thinks the king is a digital currency and he will give you a bid to buy ABC..
This market is not logical at all, when fools like Ali are winning..
The next day, ABC's bullish CryptoCurrency price will increase by about 150%. Open the window and you want to throw yourself out of it, because seeing that a fool like Ali has gained such a benefit and you're doing all that harm in the end, you're annoying. Open the currency exchange and hit the XYZ farewell button. Sell all your assets and buy ABC..
The next day, the XYZ price will increase by about 800%. Ali calls you and excites you:
"congratulation! XYZ prices have grown tremendously, ABC currencies have fallen, I have to listen to Hawthorns and buy XYZ.. "
Do not be like this person.. 😒
Trust me, I've gone this route before. When I first started trading, I spent countless hours staring at charts. Looking past, I can not lie to myself. I wasted a lot of hours. Of course, I spent a lot of time learning the techniques and implementing it in my trading, but a lot of time was spent just looking at the monitor in vain..
I learned that most of my mistakes were like this for a moment. At moments that I did not have a job and I was new to, I did not need to look at my charts and assets. This made me feel emotional and do unbelievable things..
