Learn to trade without jeopardizing your emotions!
Guys everyone is a victim of trading with emotions because some of us have more money invested into crypto than we are willing to risk. If this is the case do yourself a favor and learn how to cash out once in a while just incase the market goes south. I believe that everyone that is invested into fundamentally strong projects such as Ethereum is going to be more than okay in the long run. When certain coins are down 20% make sure to never sell for a loss (this is the most common mistake people do when investing.)
I never understood why people are not willing to cash out once they are up over 20% but they are willing to cash out once they are down 20%... don't be one of those people.
If you learn to be logical about your actions as a day trader than your emotions will be set aside and you won't be constantly checking the prices. Learn to let go of what is not in your control. Remember that you should always have an end game in mind and you should stick to it. Being greedy is never going to get you anywhere but being ambitious with direction can lead you to success.
So ultimately learn to trade without emotions and know that not every move you're going to make is going to be perfect. Learn from your mistakes and never risk more than what you can't afford to lose. Knowledge is power so always do your due diligence .
Emotions are one of the hardest things to overcome. I too was a day-trader, not saying I was successful at it, but I did try it for a while, and emotions has to be thrown out of the window. The main thing I focused on as a trader was the chart, the chart tells it all, and not necessarily saying that it is gauranteed truth, but if you think about it, what ever you see on a chart i.e. bull flag formation, everyone sees the same thing and will react similarly, and the same goes with a bear flag, and all the other indicators. Learn these charts and you will have a sense of direction...However, what I have learned since investing in crypto is that they act differently than stocks right now, 50% swings are the norm lol...
Yeah you're exactly right..everyone does react to similar TA's and do move the same direction. I think that all charts tell a story and the better you get at reading the story the better you get at day trading. I love the 50% swings you can always look at in as a half-empty or half-full cup situation and use it to your advantage
I actually want to be a long term investor but the quick jumps and huff spikes are compelling me to sell! I know there are people out there that are selling and buying these peaks and dips, but with my luck, as soon as I sell and plan to buy back at a lower price, the thing just keeps rising lol! But it's still tempting...