Crypto market is one of the most volatile market of the world where pump and dump is part and parcel of the market. Crypto trading is not a one way traffic. Some time you have to bear huge loss during trading.
One of the common issue of investor is getting panic when seeing the price of coin dip down. It is a fact that even an expert trader lose their money in crypto market. There is no need to panic if you are the guy who lose money in trading.
Panic can make you emotional decision. It is important to control your emotion in crypto market. Crypto market doesn't move with emotion. Some investors love to hold their coins. It is again not a wise move. Never lover your coin.
Although crypto investment is pretty risky but your little step will help to make your portfolio relatively safe. I am using the term relatively safe as nothing is safe practice in one of the most volatile market of the world.
You can reduce the risk by diversify your investment in multiple projects. In case if one project fail other may bear your loss. No matter how much project is valuable never invest in single project.
BTC is one of the most popular coin and investors first choice of investment but just imagine people who purchased BTC when it was trading around $68,800. Now the current price of BTC is trading $26,800. Almost coin is 61% down from its all time high worth. That's why it is important to diversify your porfolio.
Beside this you can reduce the risk by apply stop loss. This is a good technique which will make your investment relativey safe.
It is important to remember that expert trader may select the wrong coin. Commiting mistake is common. We can't elimiate mistakes in our decision making. Only thing we can do is to improve our knowledge, skill and get good lesson from each mistakes. It will help us in longer run.
Another mistake people do is not booking a profit. Booking Profit is as important as booking loss. There is no need to become greedy for your coins. Always try to book your profit. Profit is useless if you can't book in time.
Wining at trading requires a sorted mind and panic is a reaction when we let emotions come in .
This would be bad for trading so let a sorted mind do the trading and we would be well into profit or minimum losses
Losing money in trading can serve as a valuable learning experience. It provides an opportunity to reflect on your trading decisions, strategies, and any mistakes made. Analyze your trades, identify potential areas for improvement, and use the lessons learned to refine your future trading approach.
Well said, it is important to learn lesson from our mistakes. Thanks for stopping by and sharing your thoughts with us. Stay blessed
Sometimes when people panic when they lose money while trading, they tend to pump more money into the market trying to recover their losses.
What happens is that they keep losing because at that point they aren't thinking clearly and are reacting to the losses. Plus, they might not even enter the market with a strategy at that point.
You have raised a valid point. This issue can be resolved by doing your own research. Stay blessed
our brain is a wonderful tool to help us profit by using logical thinking but panic tilts the balance towards wrong decisions when it comes to trading and money matters
True, that's why it is important to take no decision when you are panic.
It's true that a dip in the coins value makes most of us panic. Consequently, we take wrong decisions.
May I kniw what it means to book a profit?
Booking profit means you must cash out your profit when the price goes up. This concept is very important to build your portfolio. Thanks for stopping by and sharing your thoughts with us. Stay blessed.
Ahaa, I got your point.
That's great. It will motivate me to share posts on other topics:)
Yeah! In fact, you made me realize my mistakes about not cashing out the crypto when orice went up
Actually this is the real beauty of community. You can learn new things on daily basis.
True.
Thanks for sharing your experiences and advices.
Have a nice day 🌹
Managing emotions is something very important in trading... seeing a trade go negative can be very stressful, I say this from experience.
Well said. Managing emotion is key to success in crypto world.
Some financial strategies here and I do agree.
An emotional game is not needed in the Crypto world and loving the coin(money) will hinder one from making some big step toward the future.
It is true. We must keep emotion aside while doing trading. Stay blessed.
So should you. Thanks for the response.
You are most welcome. Stay blessed
So should youu.
Everything can go downhill if we don't have a cool head when trading crypto. We make insensible decisions when we become emotional. Losing money is part of the game but it can always be minimized with proper strategies.
Cool head has significant imporance wile doing crypto trading.
I have friends who sold their property and put money into it, sold their bike and put money into it, but they haven't been able to make anything out of it and they've lost everything.
This is the common problem of new investors. Trade risk may be avoided by improving your knowledge, skill and learning from your mistakes. Stay blessed.
It’s simple as that: I never panic because I never trade. Only investing longterm. 😅
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