I think if you're a long-term holder, it's ok to check your holdings and prices once a day.
Checking the price often makes it easy to panic and make some bad decisions, so we don't always check the price.
Topic: Don't look at btc every five minutes - page 7. (Read 2443 times)
This is a mistake a lot of us make. If you track btc every minute you are more prone to panic selling. Btc has a lot of ups and downs, if you are in it long term the short price has little meaning
I also think it is being paranoid if most of the time, you are checking the price of bitcoin. Instead of wasting time checking its price, spend those time to earn bitcoin. In that way, you will not worry anymore if the price of bitcoin increases or decreases. Just trust in the capability of bitcoin that it will increase its price again.This is a mistake a lot of us make. If you track btc every minute you are more prone to panic selling. Btc has a lot of ups and downs, if you are in it long term the short price has little meaning
You can see that the market in recent days is changing a lot, the price of bitcoin after a slight recovery, the current time has begun to decline. I think that in the annual cycle bitcoin prices will continue to fall sharply in the coming days. So you have to monitor the market in every specific time frame from big to small to get the most accurate view and plan a specific investment before.
From my experience, I never trade in a bear market. It's hard to lose money day trading during a bull-market.
Bear market is a good time to buy.
Bear market is a good time to buy.
A few months after ATH has been always very hard to trade.
Unstability & high volatility are frequently and the best is to make only a few trades per month. Use logic, price key levels and be in touch with the latest news. Right now, everyting under $7,500 are good entry in the next month or two. Anyting over $10,000 are good for sell or short and prepare for the new, lower entry. Bitcoin long term is optimistic but upcoming months can be pretty bad for the bulls (hodl too).
Unstability & high volatility are frequently and the best is to make only a few trades per month. Use logic, price key levels and be in touch with the latest news. Right now, everyting under $7,500 are good entry in the next month or two. Anyting over $10,000 are good for sell or short and prepare for the new, lower entry. Bitcoin long term is optimistic but upcoming months can be pretty bad for the bulls (hodl too).
This is a mistake a lot of us make. If you track btc every minute you are more prone to panic selling. Btc has a lot of ups and downs, if you are in it long term the short price has little meaning
I think that with a market that is constantly changing and extremely complex, it's not enough to watch every five minutes. It can be seen that the price of bitcoin is fluctuating continuously so to have a comprehensive and complete view you should monitor the time frame to be able to have the most accurate view and plan your expenditure. the most.
so what should i do to get information about bitcoin? If I don't monitor bitcoin prices at any time, then I will also miss an important moment to trade. If I just wait when bitcoin prices go up? then the sum of my bitcoin will not increase. At least by monitoring bitcoin prices I can take advantage of price instability to trade.
At first I was constantly looking at the price. Then I realized that I get a big profit if I hold a coin longer, I decided to do it always, but the market fell down and my capital without stop loss fell down ... Therefore, it is necessary to monitor the price, but not often!
This is certain, if you often check the price of BTC, you can't help but sell it so that you can't get the maximum periodic profit.
Bitcoin as well as other altcoin fluctuate greatly due to trading of investors so if you do not trade should not track the value of bitcoin every minute so. During this time the market is going down so much so you should keep buying the good altcoin at low prices and keep that is a good choice.
I can't stand watching in blockfolio but this is something I can't get rid off. I feel nervous to a big price changes and perhaps I need to do something with my mind and emotions
I agree. People are too focused on bitcoin every single minute. They can spend their time on other things such as learning how to use bitcoin properly or learn how to trade in a right way. Learn how to trade can make you become good in analyze the graph and therefore, you will know when bitcoin go up and when it will go down
There's a lots of things to be more focused than looking for the value each time bitcoin fluctuates, the sway will just allow you to lose money if youdon't have enough knowledge, so thinking of earning more knowledge than keeping yourself busy monitoring the price is much better, if you already have a lots of ideas then you have a big edge with other traders around the exchange., so stop bothering yourself and stress each time the value
fell in the market.
You can see that the market in recent days is fluctuating continuously and extremely complex, it can be seen that although bitcoin prices are recovering extremely strong but may decrease at any time due to the selling force a big day. Depends on the behavior sometimes of the trader themselves, they will still panic to it sometimes even if they know it happened a lot of times, maybe they were not used into it
always see the price of btc is a bad idea because this will make us think want to sell it, supposedly if we hardly have a plan to hold it then do not hesitate
You can see that the market in recent days is fluctuating continuously and extremely complex, it can be seen that although bitcoin prices are recovering extremely strong but may decrease at any time due to the selling force a big day. Depends on the behavior sometimes of the trader themselves, they will still panic to it sometimes even if they know it happened a lot of times, maybe they were not used into it
Bitcoins always change every minute of the second, so if you watch every 5 minutes, you will not be able to keep up with the market. I do agree with you because after investing in bitcoin once it is not needed to keep in checking the price very day because if the price is low it may discourage you not to invest anymore and if the price is a little high it will encourage you to sell it not to wait for more increase
Price checking i guess is suitable for a daily traders who of course they would decide if this day, this hour could be a good time to trade. So you can see that the market is fluctuating continuously and extremely complex, so if you do not keep track of it, you will not be able to catch up on the market, resulting in extremely high losses and risks
I agree. People are too focused on bitcoin every single minute. They can spend their time on other things such as learning how to use bitcoin properly or learn how to trade in a right way. Learn how to trade can make you become good in analyze the graph and therefore, you will know when bitcoin go up and when it will go down
That is the psychological anxiety of investors, even we ourselves sometimes also fall into that situation, especially when the market is red for a long time, we can hardly control emotions, regular observation is inevitable when our money is constantly disappearing. For people who are psychologically under too much pressure, they are easy to make wrong decisions, therefore, we should try to limit and control or look for something to do in the red market time, that will help us stabilize psychologically and forget the price of bitcoin
I agree. People are too focused on bitcoin every single minute. They can spend their time on other things such as learning how to use bitcoin properly or learn how to trade in a right way. Learn how to trade can make you become good in analyze the graph and therefore, you will know when bitcoin go up and when it will go down
i totally agree. checking so many times pushes us to make mistakes. i knew myself when i first started to trading i was waking up at night few times and checking the prices. so crqazy. and making so many mistakes. now i am more relaxed and holding only.
If you have conducted a technical analysis, made a trading plan, set stop losses, you need to periodically monitor price changes and be patient
This is a mistake a lot of us make. If you track btc every minute you are more prone to panic selling. Btc has a lot of ups and downs, if you are in it long term the short price has little meaning
Thank you for this tip. Very amazing, this post can inspire other people. Specially now, the market is down. It is super normal for now because of the long bull run last year. The price of other cryptocurrencies are making correction to the price of it. Jump to: