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