You are viewing a single comment's thread from:
RE: The Bitch Of Crypto-Trading Psychology (And Value Of Following A System)...
Thanks for sharing @rok-sivante. I had so many similar experiences. So, I have decided to invest (long term) not trade (short term), and to systemize not improvise!
Investing means you study a cryptocurrency thoroughly, and then if you find that it has a good value for the long run, you buy in it. If its price falls down, you don't panic, but instead, you buy more.
Similarly, if you miss a top, you don't have any regrets because you did not want to sell any way.
I found that investing saved me so much time, effort and anxiety, and best of all, it made me more money eventually.
Agreed!
Holding it long term is definitely a better way to trade as its less stressful and doesn't psychologically impact you that hard. I bought like around $400 worth of crypto to start day trading and as a result I've been insomniac these days while barely averaging out a $10 or more gain daily. I've had no experience in trading prior to this.
Oh the other hand, the other crypto I bought for $10 as a joke and pretty much forgotten about has brought me almost 5x return as of today.
Same here! Just dumb luck on my part!
word.
I also favor the long-term investment approach over trading. not as much adrenaline, but alot less stress and has indeed produced some great results over the last year...
I finally started holding long term more then trading and the results are unbelievable. No more rushing to take a 10% gain. I will not buy a coin that I'm not willing to hold for a while. That's when i started making money and stopped stressing.
I have a system now.
That's the way to do it. Same for me man. No more headache.. Just headaches about finding more money to dump in haha :D
Very well said. I am trying to convince fellow Steemians that this is the best approach. I mean you should not follow the herds selling or buying without knowing why.
Take of the downside and the upside will take care of itself.