Topic: Enter the market with a loss mindset~what you can afford to lose - page 5. (Read 1200 times)

When it comes to predicting Bitcoin price no one can accurately tell what direction the trend will hold to in the future the best that can be offered is mere speculation. From the few experience i have gathered from price fluctuation, following the trend will help tell where a perfect top and bottom price is. Following instinct without analysis is what is affecting trades. Knowing when to sell is another technique to be learnt. Bitcoin is not about buying the dips and selling high. It involves knowing when a dip and high is due.

One of the biggest mistake traders make is to only think about profit and not a possible loss in case the market goes the opposite way. When you are prepared for a loss, you also get to have a good risk management plan so that you don't lose everything in a single day.

Another thing that affects trader's profits so much is greed and FOMO. People should know when to exit and enter markets to avoid losing every trade.

Because no one knows for sure, which price is the bottom and which is the top?
We can just buy at the price we expect to be the bottom and take profits at the price we expect to be the top.
No one wants to buy at the top and sell at the bottom, the act of buying and selling comes from your judgment and results in the best answer, not a right or wrong argument in the market.

Because no one knows for sure, which price is the bottom and which is the top?
We can just buy at the price we expect to be the bottom and take profits at the price we expect to be the top.
No one wants to buy at the top and sell at the bottom, the act of buying and selling comes from your judgment and results in the best answer, not a right or wrong argument in the market.

Last December 4, 2021, Bitcoin had a bad drop from ATH to $42,000, down nearly 40%, and many Altcoins dropped 20-30%, for many investors, this is really like like a nightmare. but calmly looking back, this is not unusual for the crypto market.

From August 2021 to the end of 2021, everywhere you go you will see a lot of people predicting bitcoin will reach 100k - 200k, then most investors just buy more, not sell. But as a result, we have seen, that bitcoin keeps falling in price.

Cryptocurrencies are always like that, it feeds us every day, fattening us up and then eating us with subjectivity and confidence that we are smart enough to beat this market.
But no, capital management is ultimately still iron armor to help us survive in the market for a long time.

Bottom or top is valid only when we have a sell action.
It is the price at which we sell that determines whether the order is bottom or top.
Prices always fluctuate over time and never stand and no one can predict the top or bottom price 100% correctly,
So, when entering the market, prepare yourself not to give up.




-Duke Khan

You have to enter the trading platform with the interest of profit and loss. Otherwise, you will never be able to profit by trading from a trading platform. There are no people who have not lost from the trading platform. With the loss, maybe one day you can dream of profit. People are not completely successful in anything.

Luck may only be obtained once, but not for other luck. Entering the market without trading knowledge will only burn their money. Even though they gain in the beginning, they will also lose in the end, they will lose with other trades. Getting rich quick in crypto is very easy, but to lose everything is also easier. Must be prepared with all risks and must also be prepared with qualified knowledge.

Enter the market with a loss mindset~what you can afford to lose

Those which enter this market with the mindset of making a lot of money in a relatively short amount of time cannot even called traders, since they do not have what it is necessary at all to succeed, even if the profits that we can obtain in the markets are without a doubt better than what you can get in other markets, it is a mistake to think that you can get rich so quickly, now I know there are a few cases like that but those people relied on their luck and not their skill to get those results.

Buying the dip ain't that bad because from $68,000 per Bitcoin, grabbing it for its price now is a steal from me, then hodl if you don't know how to make profits in this kind of market. I agree that you only have to invest the extra amount of money you have in order not to get homeless while waiting for the next bull run. Don't put all the eggs in one basket, like the saying said.

Everyone wants a huge return on investment and so no one will want to buy intentionally when they know that price is going high. High in the sense that it is already ATH and they jump in. This is not possible but because nobody knows the exact point of trend, they jump in when price is high hoping to continue riding the bull but surprisedly they are buying the sliding knife. This situation happened in 2017 when investors bought the high of $20,000 and also this current high . It is better to wait for at least a slight correction and not to be greedy to jump in while the bull is currently on.

If the purpose of buying bitcoin is for long term investment then I think buying at any price is fine "it looks not greedy".

This kind of mindset is a mindset that should be avoided, because the get rich quick mindset only results in losses and expectations that will not be the same. Those who want to get rich instantly don't want to do complicated processes such as learning how to master technical analysis and fundamental analysis. Trading cannot be done as easily as turning the palm of the hand. need a process, even those who are professionals are still experiencing losses, let alone just new traders who are just trying their luck.

Some times it is our mistake that puts us into losses and the mistake is simply greed. We wait to get all the profit at same time while market has done its highest but we keep hodling it waiting for more bear but when it start to drop , panic begin to happen and regret. I think that setting our mind onto the profit point we want should be our top height.

~snip~

But most traders enter with a get-rich-quick mindset, which is a dangerous thing to have. When they dont get it, they sell and lose money.