Nice piece of write up. Some lines that caught my attention are :

Psychology is all about peeking into our minds to understand why we think, feel, and act the way we do.

You are right; understanding psychology is essential in many areas of life, including investing. By knowing why we think, feel, and act a certain way, we can make more rational decisions. This insight helps us control our emotions better, especially in the volatile world of trading.

Fear can make investors feel anxious and worried, especially during market downturns or volatile periods which can cause them to make impulsive decisions like selling off investments hastily to avoid further losses.

That's correct, and I can relate to this. During market downturns, fear can indeed lead to hasty decisions that might not be in our best interest. In my opinion, learning to manage this fear is crucial for any investor to avoid making rash choices that could result in significant losses.

FOMO and FUD are like those little monsters that mess with people's heads when it comes to trading.

Oh yeah, I can totally correlate with this description. FOMO and FUD are powerful emotions that can cloud our judgment and lead to poor investment decisions. It's important to stay informed and not let these "little monsters" drive our actions in the market.

Therefore, to stay balanced, STEEM investors can use the following strategies to avoid getting swayed by these emotional monsters.

In my opinion, this is great advice. Setting clear goals, doing thorough research, and having a solid plan are all effective strategies to keep emotions in check. It's important for investors to remain disciplined and avoid making decisions based solely on fear or excitement.

Wish you all the best