Turn down your emotions!

in emotions •  6 months ago

Cryptos are crazy!

One moment you are projecting your returns over ten years and googling Ferraris, and next your are running for the exits watching accounts go in half! And this is just an example of one given week.

This is fear and greed AMPLIFIED! With stocks, I'm always teaching (and re teaching) my clients to turn off the noise.
A simple elevator going "up" and "down" according to the media would be "plunging" and "soring".

A few things happen every time you make an investment.

  1. It goes up, and you think you are smart.
  2. It goes down, and depending on what kind of person you are, you feel stupid, or sad, or you blame someone else.
  3. It stays flat, and you look at all the other things you could have bought instead.

Think about that for a moment. None of those things are really healthy. We may think feeling smart is healthy, but its probably misplaced. Yes you were smart enough to discover crypto and read a few articles and watch a few videos, but it really came down to timing. We all know being in Crypto in the first part of 17 was insane. Everything went parabolic, the crypto selection really didn't matter. I can show you thousands of studies that show timing is mainly luck.

My advice, find the businesses you really believe in, store them safely, and hold them for the long haul. Continue to save fiat into crypto as you discover new things.
Yes, its fun to check this stuff out everyday and be on top of it, but don't make the fatal mistake of thinking you can out maneuver the market. The exits are to tight and all it takes is one crazy event to make things shake out.

You are very fortunate to be here now......EARLY. Take full advantage of the opportunity you found.

But, don't give yourself a heart attack!

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I love this post, and also learned from it

The invest in crypto is medium or long term so if you think in that way you'll have huge profit

special meme for you!

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one does not simply knows how to create meme

It's always fun to read your poste. Keep going

Great work. As always. Thanks for your content

Being a day trader is really stressful.
You are better off doing your research and investing into things for the long term then you don't have the daily emotional strain as well as you are most likely going to profit.
You have a golden opportunity that others in the future will wish they had
Invest now before regretting it down the line.
Great Post @davidp! :)

most important in this things to have bankroll management, lets say you have $10 000 then you invest only $100 to crypto , even if something happens then you dont lose control and your face :) Second part to just dont refresh and check every minute, but once per month or so .

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lose control of your face....that was good

The best game you can play with cryptocurrencies is the long term game

r u tell in really we find some business without crypto or find in crypto some good david sir?

It is not just about crypto or stocks, it's pretty much in every business niche. Either you are able to control yourself or you act like a tilting machine and lose all your patience and money. Best advice would be, drink more vitamins :)

hahaha ok sir we dont give a heart attack ourselves and alos thanx to share ur talk on it and ur advice

i think our goal in crypto is that we invest some in crypto for a long term not short and daily bases and also thanx to ur advice and help us with ur daily posts david

yes sir u r right and we dont forget ur advice and don't make the fatal mistake of thinking that we can out maneuver the market @davidp sir

Thanks @davidp for this good advice

yeah its right that its market every time in different condition when its up and some one get some porfit the who think he is many knowledgable on it and really smart and then some down and get some loss then think this only market crysis and not my mistake but its not right we only think that we plan some long term and leave this after a time when we need we take our profit or money and also good to advice sir all of us on it and talk on it and give us some better thinking on it

All I am doing is hoarding crypto's. In time i'll have a nice collection and as long as the project behind a currency is worth it, it will grow in price eventually.

I always try to remember that I'm not maneuvering the market ... probably someone else is doing it, and now he's taking off all the cream :)

@davdip "Most important was to remain focused and always have presence of mind ##

Some guys are getting up set as they missed few coins and not able to earn , Guys don't regret as market seems supportive than you will find every day 2-3 coins will jump and will give you good profit . All coins are in dip only thing need to do choose good coins and buy it from its lowest support and enjoy the profit . Remember those days when their was no movement on the coins and regular blood bath going on even every trader had tasted the taste of huge loss including Me ( new babies in trading like you guys )and still in 2 plus btc down from over all account .

In short don't get demotivate by looking people around you are earning , Should take actions and be active , keep watching post of members are posting regarding coins and believe me you don't need to even wait for ping from any one of trader ....you may find coins which you should buy and every body is having limited budget to trade including me , how much some one trade daily ....hardly you can buy 4-5 max coin in a day ... so many people are sharing coins on their time line ...You can earn every day even If you are good in making relation with people and getting connect with people as they are biggest source of information also you should get in with so many free channel group and pump & group as they provides free signals as well and can have a fair idea what to buy for today .Believe me now a days these groups calls more effective then charts predictions lolzzlolzzzz....

Earning is all depend on your investment and risk you ready to take and your presence of mind even you don't know how to trade.

##Mysterious entrepreneur

Agreed. Find projects that have a strong use case and offer more than just promises, ideally those that have a differentiator from the rest of the market. Also diversify. And never invest more than you can afford to lose.

Yep you right that time is mainly luck ! Hold crypto for long time will really worth in future.

Awesome post @davidp , thank you for sharing

nice article sir "" upvoted

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  3. This very useful article to us ..specialy for new crypto currency investers ....like me...
  4. Thank you so much sharing your valuble knowledgeband ideas with others...
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    Cheers!...

emotions don't work here i guess its the timing that matters

I Like this post, thanks for sharing

excellent post , thank you

hehe i just hope i don't get a heart attack Lol

i will try to grab each and every opportunity coz i dont want to regret later

Cryptos are hell crazy and it always will be

Great post @davidp sir, full of knowledge and information.