Emotions are inherent in the human condition. But poorly controlled they can work against us. You can be an expert in finance, have experience in the markets and still impulsively enter or buy the fashionable crypto without doing the slightest analysis. When I started in the world of finance, especially in the cryptocurrency market, I kept chasing the green candles, always buying when the cryptocurrency had already risen a lot. Then the inevitable correction occurred and I had to wait for the stock to at least return to my buy position, so as not to sell at a loss. When I did trading I replicated this behavior with even worse consequences because my positions were liquidated. I suffered from the well-known (FOMO, fear of missing out) fear of being left out or losing the opportunity. The market does not always behave with the rationality that I would like and I don't think I can beat it, so I applied common sense and discipline. Now I try to sell when everything is too expensive and buy when it is cheap. I take advantage of the volatility of cryptocurrencies instead of complaining. I regularly acquire strong cryptocurrencies with high use value, but I take advantage of market corrections to buy them. The risk of being wrong will always be present, but it will be less if I do not pay an excessive price. Personally, I do not fully share the idea that the main cryptocurrencies can be bought at any time and at any price, with the guarantee that benefits will be obtained and if a loss is suffered, it will be easily recovered when the market recovers. This idea is fine for a “holding” or accumulation strategy. But this strategy is much more effective if you buy when the market falls. When you buy at a high price you are more exposed to market fluctuations than when you buy at a reasonable price. I like to dedicate time and effort to choosing values that can grow in the future. But since I do not have formulas that guarantee my investments, I try to diversify my portfolio. I buy most of my cryptocurrencies in spot, except for a little money that I have to trade. Although I confess that I am a convinced bullish, I am beginning to look favorably on the bearish periods where I can buy my preferred cryptocurrencies at a better price. Remember this is not financial advice, it is only the strategies I have to achieve my financial freedom. Thank you very much for reading me and always keep the will to make your dreams come true.
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This text was published in Spanish here
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