Topic: Don't panic - page 10. (Read 12276 times)

In the last months, I panicked as a result of a mistake and lost a lot of money. It was really bad, I made mistake after mistake because I was panicked. It seems like a better option for me not to open too many trades since there are volatile markets.

If they don't know about crypto market conditions, it would be better if those of you who really know about the crypto market are willing to give advice to those who still don't know so that in the future there will be no more people panicking about crypto market conditions.

With time and staying in the crypto market.

Everyone will start to see those things and it will make all of them strong as they experience serious and large corrections. While being overwhelmed when there are such pumps.

Panicking is going to stay even the experience people still have it but is manageable.

You exaggerate, it all depends on the goals of the person. If my goal is to earn 100% on bitcoin, then I will not be satisfied with the moment when it rises by 5%, I prefer to wait and sell it later, at the levels I am interested in.
But if bitcoin has reached my goals, but I want to also expect growth of 105%, this is already a problem.

This is true not to panic sell for instance last year when bitcoin was just increasing around $19k I was really anxious to sell some of the ones I have been holding back since 2017, but for some unforeseen contingencies I hold till like march and I was grateful I did. I wanted to take the opportunity of the increase when I don't know that that was just the tip of the iceberg.

If you don't learn, then crypto is not for You. it's actually normal to make mistakes especially if we are just starting, but if we keep making those mistakes over and over again, then it's just like wasting money, and we should stop immediately.

Your hypothesis seems to work most of the time but it depends when and where to apply it my friend. There are some market conditions that will live you with no options than to sell and take your minimum loss.
I can still remember some entry purchases I have done so many times I did back then and I exited them because I knew they were wrong move and decided to end the trade. Do you know what happen after that? Majority never recover just the same way I caught in Shiba saga listing on Binance.

Yes boss you're right. I am always do it, i can't Control my emotions,  i research more times before buy any coin or token and choice good one, but when market dumping then i can't control myself and sold it. one or two days after it's increasing 2x. But i lost money.

Now I realised it - If i don't bear "lose" then crypto is not for me.

As long as you have been involved with the market, then as best you can determine daily profit targets or investments will also have an impact on losses but we must be wise to fight emotions so as not to panic in volatile market conditions, we change the mindset that the market will eventually continue to move high.

First you need to understand why exactly people panic.
It's simple, they panic because they don't know what to do.

People start to panic when they see that their expectations look like red candles on the chart and they don't know what to do about it.
Someone runs to sell and shouts that they will do it, the rest follow his example because they do not know what to do.

I think usually such a panic attitude will keep the trader always in a loss, and it is often experienced by new traders who do not understand the movement of the market, it should be to avoid panic in making trades need to take steps like this.
1. Traders should understand Candil or market charts.
2. Traders are not easy to trust with developing issu
3. Convince with your own analysis
Well, I think all three of them are solutions for traders, this is my previous experience.

yes, for new people without skills and experience it will be better for short-term or long-term investments. it will be safer by choosing the right asset.
buy cheaply and hold it until the price meets our target. simple investment. the most important thing is that if there is a decline in asset value, don't panic and change your short-term investment strategy to the long-term. the market will definitely return the value of your investment.

I believe that firstly, most investors don't know why they are investing and don't even know what to invest in except for what they come up here to ask, "Which is the best crypto to buy now" and such. People panic sell when they don't believe in what they invested in because they never really made their own research on the project and they also didn't have a projection for their investment.  If you know the project you invested in and understand why you invested and what your target is, then there is a likely possibility that that investor will not panic sell.   

Lack of skills when trading is one factor that you are losing money in crypto. So, much better to wait and hold long time and wait for the bigger opportunity to gain more profit and most important is don't panic just keep always on mind that crypto is volatile the ups and down is normal.

It depends on the trading time span of the traders itself, sometimes holding for a long time for a better profit is good if the trader manage to hold their coins for a long time, as we know from the market chart history, holding for 5 years is always make a huge return. 5% profit is too small in cryptocurreny trading, so people are aiming for bigger returns.

We can't really blame noobs who jump into crypto hoping they will get rich real soon, maybe their friends who introduced them to the crypto market never mentioned the part where the market dumps and everyone starts being scared of buying, they aren't informed about the bear days or the days of red they are only told about the green days when people make excess gains, in conclusion newbies panic because they aren't prepared for the red days in crypto, they were told about the green days only.

We always try as much as possible not to panic but in some cases is just natural to panic.
Instance, you're holding a coin worth about $50k and then suddenly bear market comes up I'm sure you're going to panic cause of the income you hold and at that moment your fiat isn't that much you'll surely panic.
It's just nature but I believe the higher you trade and stay in crypto the less you fear it's just a matter of time and experience

Well, you are absolutely right with everything you said, but all this can only apply to when one invested in a legitimate project, am saying this because, even with my level of experience in this space, I recently fell victim to a scam, my need for money got so bad that I failed to research before investing into a project for quick profit, it turned out the devs of this project were minting news tokens in the background and selling without the community knowing thereby bringing the price of the token down each time it tries to pump, at some point, I found out, but before I did, I and every other person that invested have lost 3/4 of what we invested, quickly, I had to sell and withdraw whatever was left and move on.
Things to learn from this is that -

1. Never be so desperate to make quick money that it clouds your sense of reasoning, that it becomes paramount over the security of that which you already have( it doesn't make sense to make money only to end up losing it again)

2. Incase one falls a victim to this kind of project, learn to get out quick while the opportunity is still there, dont wait there hoping for a miracle to happen, cus the longer you wait thinking things would change, the more price is going down, and the more your invested money is diminishing, and also the more your chances of getting your money out is closing in on you as liquidity can be pulled out anytime in some cases.

Panic is something that you cant really get rid of it because we are just human beings and its normal to have those kind of reactions because even professionals would have that feeling of fear and panic for sometimes

Although the difference between noobs and experts is that they do able to handle out themselves on specific situations where they do really know on what to do but due to unpredictable characteristic of the
market then it cant really be avoided that our analysis would really be not that effective or the price movement goes to the other side.

we have several reason why panic could come to us recently especially new investors in crypto market. First point is we didnt research properly to asset that we bought before, we didnt understand the good point from this projects so when see price correction we think its dump and willl dying.  another thing is we didnt use proper money management and put all money only into one portofolio  so risky will getting bigger rather than we split it.  FOMO will not happen if we have good knowledge in trading.