~snip~
therefore we must have a target to take profit. many of us when the bull market takes place full of confidence the market will continue to rise. That greed will lead us to disappointment for missing the opportunity that has come. if the target has been met and we take profit then we just have to wait for the market reaction, if the market continues to rise, then let it be because many of us also regret selling it, actually no one knows the direction of the next movement
If we can not control greed, we will not be able to take advantage of what is in front of us because we still want even greater profits. Even so, this cannot always happen, considering market conditions always change. And if after we make profits, it turns out that market conditions are still improving, we don't need to regret it because we still have the opportunity to take profits again later. The important thing is that we keep trying to get it.
~snip~
When you don't have self-control and don't have a definite target, it's very difficult to take advantage of it properly. many of the traders fail to take profit, they do not target the price that has been set at the beginning. which in the end when the market goes down this will make them more panicked and sell at a price that is too cheap so that they will get little profit, even no profit at all. Greed and panic will make the trade even more destroyed, there will be no strategy that can overcome it if you do not have self-control over the greed and panic that occurs.
That means they don't make a lot of profit but can get a loss because they sell when the price drops again. This has happened to many traders who could not take advantage of the bullish moments that occurred for some coins, so they were too late to take profits. Even if they could do it, they would benefit greatly. Greed and panic will make the trade crash, and you will not be able to take advantage of it.
~snip~
I do understand that not many people could survive this period and that is unfortunate but common. I am not saying that not everyone should survive, I hope everyone would but the reality is that many people will sell and fear the drop and will lose money when it goes down. Plenty of people bought at 21k because they thought it would go up, and then sold at 16k because they thought it would go down, instead of doing vice versa.
What matters is we should not do that and if you are wise enough not to do that then it would work out for you. I personally don't really care about the ups and downs because it’s a temporary thing, so I can hold for many years without care.
If they are not afraid of a decline and can become strong people holding their coins, later they will be able to smile again, seeing their coins increase again. Not many can do it because it's very hard but at least we should try to try it for our own good. If we continue like that, when will we be able to take big profits when the market is bullish again?
We must be able to survive in the current bearish condition and as much as possible, use this moment to buy more because this is the only chance we have instead of regret. And before the regret gets bigger, we should keep trying to survive and buy whatever we can but don't buy with all the money we have because that is not recommended instead, buy it gradually.