2 Days Later, The Market Turns Totally Red - And That's Ok

in crypto •  3 months ago

2 days ago, the entire crypto market was in green. Now, the entire market is in red. For conformity, I decided to take a complete screenshot of the red one too. Here's how it looks:


coinmarketcap-red.png


I can say with absolute certainty that crypto market is one of the best tools for learning humility and training your emotional machine. One day is all in green and that's ok. The next one is all red, and, here's the trick: that's ok too.

Enjoy the ride.


I'm a serial entrepreneur, blogger and ultrarunner. You can find me mainly on my blog at Dragos Roua where I write about productivity, business, relationships and running. Here on Steemit you may stay updated by following me @dragosroua.


Dragos Roua


Wanna know when you're getting paid?

I know the feeling. That's why I created steem.supply, an easy to use and accurate tool for calculating your Steemit rewards

It's free to use, but if you think this is a useful addition, I'd appreciate your witness vote.

Thank you!

Psst: new to Steemit? Start Here

Authors get paid when people like you upvote their post.
If you enjoyed what you read here, create your account today and start earning FREE STEEM!
Sort Order:  Trending

Not again...

hehehe that's the thing with a rollercoaster, in order to go up it has to go down at some point.

And like a roller coaster ride, that's what makes it fun.

My investments in crypto are in the red by about $200 i.e. they are worth $200 less than they were when I bought them.

So I'm not a millionaire yet.

but because my future has not been staked on the crypto market, this is not really a problem for me. It's part of the ride, it's fun to watch the value go up, but also (perversely) fun to watch it come down also.

And now my next bit of fun is to predict the bottom of the dip and see if I can buy some crypto then.

if I'm right, it will be lots of fun when the market goes back up.

If 'm wrong I'll be laughing at myself for getting it wrong, again :-)

Either way, I'll be entertained ;-)

Lord, grant me the serenity
to accept the things I cannot change;
courage to change the things I can;
and wisdom to know the difference.

Like you said, enjoy the ride. Learn some lessons, always keep some extra money on the side and these red days won't feel so bad

·

always keep some extra money on the side

precisely ;)

·
·

not again but it wil be green soon

It is indeed a fabulous tool to learn trading.

You can start very small.
have plenty of online free tools to use.
Huge volatility to learn market movements.
Plenty of currencies and tokens to deal with.
Centralised and decentralised markets.
Tons of TA free resources online.

Not so long ago, I learned trading on the futures market. The money I spent just funding my account (minimum was around $1000 for most of the brokers), subscribing to trading platforms and the commissions I had to pay during my learning period where much much higher.

But overall, my best advise is to learn how to deal with psychology when trading, as that is 95% of your success. My suggestion?, start by reading a trading must, "Trading in the Zone" from Mark Douglas.

https://www.amazon.com/Trading-Zone-Confidence-Discipline-Attitude/dp/0735201447/ref=pd_sbs_14_1?_encoding=UTF8&pd_rd_i=0735201447&pd_rd_r=K44HXNDAX5WJ880F0ZCD&pd_rd_w=MVTfe&pd_rd_wg=wgl5N&psc=1&refRID=K44HXNDAX5WJ880F0ZCD

It's a rollercoaster for sure. I don't buy crypto, but it's still interesting to watch. I've seen my Steem value swing by many $thousands in a day. As I cannot get at it all for months I don't worry about it too much. I have confidence it will be okay in the long run

·

Funny thing, when it was growing by thousands in a day, I was reminded that I made more by just letting the money 'grow on trees' than the 9-5.

HOWEVER, reality swiftly kicks in when gravity trends southward. The importance of knowing how to implement a stop-loss strategy becomes clear; and, being part of exchanges which offer this handy 'tool'.

By not putting money in 'out-of-pocket' takes quite a bit of stress out of learning; but, it sure would be nice if the STEEM Market added this to it's app. Hmmmm....now, that would be very interesting.

Peace.

·

I've seen my Steem value swing by many $thousands in a day.

Been there, saw that :)

I can not imagine myself putting a ton of money into crypto with all these ups and downs. I can't even sleep thinking about what I have now and what it was a month or two ago. Got to try to keep my mind occupied with something else. Thanks.

·

can't even sleep thinking about what I have now

It's good to learn your emotional limits by 'testing' the waters. Most serious investors/traders don't watch the markets in play-by-play mode. They tend to be aware; but, only make adjustments quarterly. This means they ride the waves so to speak.

As a novice, I like to document things daily, just to have something to study as a frame of reference. One day when I have zero better to do (lol) I might do an old school plot on graph paper just for the hey of it.

But, that said, it's best to have a set plan for how much you're going to put in. I like to think of it as, instead of a fattening dessert and high-end coffee, I'll put that amount in a special account, and as it accumulates use it for buying crypto. This becomes a win-win....fewer calories; and a chance to increase earnings.

Got to try to keep my mind occupied with something else.

Definitely! If you can't walk away from it, accepting it's totally beyond your control, you might want to treat trading as a lottery ticket. I might win; and, there's a huge chance I might not. While I don't play the lottery, STEEM allows me to invest from earnings that typically would have been zero, just a few months ago, before joining. Of course, I like things to stay in the green; but, when the reds occur, I realize it's not something that came out of pocket, so to speak.

Be sure to take your investing seriously, as it can be detrimental to your overall well-being. I'm sure there's a tool out there which measures your mental 'zone' for trading.

Take care.

Peace.

Good attitude @dragosroua. I'm finding that Steemit itself is "one of the best tools for learning humility and training your emotional machine."

Watching numbers go up and down, posts you like getting not much attention or getting loads of upvotes but earning next to nothing. People who were once "behind" now surging "ahead", being tempted to post crap that you know will do well (think memes) then feeling miserable because you know you won't do so, and on and on.

Every day is an opportunity to practice playing the game in a way that is true to ourselves and simply being OK with that.

·

playing the game in a way that is true to ourselves and simply being OK with that.

Having a guilt-free conscience is key; but, using your talents to grow your wealth is also key. So, in that regard, I believe there's great value/importance in finding a niche on the platform.

Some are on Steemit just for the social aspect. The tips are icing on the cake. Yet, I think to get the most value, long-term, will be for many (self-included) to find ways to add genuine value to the platform.

Btw, I enjoy reading your comments @gillianpearce.

Best regards!

Peace.

I think this should be as the effect of the weekend, though expecting more dip as the result of China's holiday hian after which the cryptos market will see a spike.

How long is your screen xD, or did you just minimize the page enough, or made multiple screenshots and then combined them?

·

I used a chrome extension :)

Or, as Winston Churchill put it: 'If you're going through hell, keep going.'

Replace 'hell' with 'red'. :D

Bitcoin is not for pussies ;)

Bear markets, bull markets, what animal type should we call this market? A frog market? Or maybe grasshopper? 🙂

A long term perspective helps keep your blood pressure down when you're involved in the crypto markets. I learned some years ago through forex that my personality is not suited to day trading or swing trading and so now I sleep much better at night by keeping a long term focus.

Thanks for this capture! I would have missed it otherwise; and, not seen firsthand how truly volatile the markets can be!
Best regards.
Peace.

What goes up must come down. What comes down must go up.

Rinse and repeat!

A lot of people took the chance to made quick profit when the market is that low that great thing to buy and to sell past i assume we will see more days like this one day very red and the day after very green

in the long term nothing can stop the crypto revelation

Yeah.....Life is a lesson by the way, when it moves forward it teaches us ,many lessons so this is also a very big lesson for many peoples, hope they are wise now :)

·

Hi, sorry for being off, busy times. I delegated 512 SP to @runningproject and I will start posting my runs too. I don't know about the "running witness", though. A community admin, rewarded for his work, would be awesome, but a witness has many other tasks that should take care off. A bit far fetched, imho. Other than that, I support this project as much as I can :)

Steem on!

·
·

Wow! That's amazing mate!
Look, perhaps you better prefer to delegate those 512 SP to @isotonic , which is our funding Voting bot... So, you can get some profits while also donating some of those profits to @runningproject ... I mean, it is the first funding bid-based voting bot ever created and it is right now boosting quiet nicely the @runningproject initiative... did you read about?
I can give you some links as soon as I back home... I'm at the cinema with the family 😂😂😂

·
·
·

Ok, I revoked the first one (it would still take 7 days to get SP back) and delegated instead to @isotonic. Good times ahead :)

·
·
·
·

Perfect man!, I am sorry for stacking you with the 7 days of delegation recovery time...I thought would be better for everybody doing like this...It is more "fair" with the delegators...
By the way, @runcoin is already enrolled in the @runningproject list as well, since the beginning ;-)

·
·
·
·
·

Thanks a bunch, appreciated! Work on the Runcoin app is coming along fine, I may have some test version by the end of the month :)

·
·
·
·
·
·

That's really a good new man!!!
Looking forward to read about it!

great post sir @dragosroua.
Upvote and resteem.

·

Well you are consistent...

Do you know what resteem means?

wow all red today epic screenshot :D
up's and down's are normal in this crypto world :)

Definitely the sheer persistence on crypto market will reward big in future as every aspect of life we do struggle with something or other it's the same case with the crypto everyday can't be a happy day but if one remain patient in rough times it will reap some good results indeed.

Ups and down are good for trading .
You can' make good money but you can multiply or increase the amount of crypto through trading

like this post.......your information is very useful......thanks for share........@dragosroua

great information.Well it is kinda good for us though for the i.market !
Few more green bars would be nice of rising.

·

great information............thanks for share information.........@dragosroua