Memechallenge #23: Entry 1 - Death by Crypto
One of the hardest lessons I had to learn trading cryptocurrency...was to NOT PANIC when prices fell. My gut instinct was "OMG OMG!!! My account value is falling. I've got to SELL NOW!"
But as the basics say...buy low...sell high. This reaction goes directly against that. (Not saying there's never a time to cut your losses.) More often than not, things bounce back, giving you a much better chance to minimize losses, break even or maybe even get back into the positive.
Moral of the Story: Panic is Counter-Productive! And don't bet what you can't afford to lose!
Don't end up stressing yourself to death like this guy.
If you enjoy these challenges, please upvote @fibra59's announcement post for this week here:
https://steemit.com/memechallenge/@fibra59/meme-challenge-23-winners-of-22
You can get the download link for this week's image in there along with all the rules!
These are such a fun, nice break from my normal posting! :D
If you enjoy these challenges, please upvote @fibra59's announcement post for this week here:
https://steemit.com/memechallenge/@fibra59/meme-challenge-22-winners-of-21
You can get the download link for this week's image in there along with all the rules!
These are such a fun, nice break from my normal posting! :D
It's great to hear some optimism @sykochica
There's quite a few, prominent, voices saying this is the beginning of the downfall,but i think that we're in for an upswing!
Steem on!
I of course could be wrong. But yea...I've hear the call for the end soooooo many times. It reminds me of almost yearly predictions of the end of the world...and yet we're still here! Lol
Right... "it's always going to be the end of the world, next year", says the coked out preacher lol
I think I heard about that too: https://99bitcoins.com/bitcoinobituaries
Man I learned that lesson years back during the "Tech Bubble" in the late 90s flipping .com IPOs. Panic, Excitement, Panic, Regret - repeat. LOL
I love how that spells PEPpeR!
It's a conspiracy by coca-cola..I knew it!! Lol
LOL that's a trip!
thanks.. at least with steem it was. 0 investment up to 400$ Can't complain either way!
I totally hear you there! While it's different when investors...I laugh a little when I hear people tell me it's a scam. I've paid in nothing outside my time and reinvested earnings. But it's only paid me with no cost. That's hard to beat. lol
Taking emotion out of trading is one of the hardest things to do however its also one of the smartest things you can do. When others sell off like crazy that very well could be your chance to buy and win big!
Wow now that's divine intervention - I just totally wrote a post about this a few hours ago while urging everyone on Steemit to stay calm during this bear market! Great minds think alike ;)
And look there's that guy from NCIS...or CSI....or one of those crime shows I can never really remember very well. Oh well, haven't watched any TV since I joined Steemit a month ago lol
Definitely!
And yea..I'm with you..he's from some crime show...no idea which one. Lol. But I'm sure somebody on here will enlighten us. :)
Haha yup someone on here eventually....Bueller, Bueller?
The last crime show I ever watched was Psych and that was only because it was laugh out loud hilarious! :)
Hehe...honestly..I think that was the last one I watched too!
Wow I would say the "great minds" line but I think I already used that...
Still waiting on a spinoff with Gus or Officer Lassiter ;)
awesome. you great
Good advice, I also learnt my lesson never to sell :)
Absolutely, never a need to panic unless you are over-leveraged, hehe.
Omg Omg
Yep, same concept with stocks. Gotta train yourself to react logically, not emotionally. You make much better decisions that way!