how often do you check BTC price and how to cope with stress? - page 16.

jems

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Quote from: mikelexus on April 17, 2018, 11:53:54 AM

how often do you check BTC price and how to cope with stress associated with this? I am checking it every few hours and it drives me crazy and makes me anxious. Is there anybody in a similar situation and how do you cope with this?

PS: I was trying to do this once a month, but I think, I missed the beginning of the bear market in January this year because of this.

Thanks,
Mike

it's really true, when we're inside, the position of loss then when we see the btc price that continues to sink will make us crazy and stressed, and to avoid it then I start trying not to look at the price at every time and I try maximally once in week

robotrobert

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Quote from: Jhomzky23 on May 01, 2018, 03:01:23 AM

Actually it depends on your perspective. If you're a trader, you have to check the price action every once in a while, so you would know the proper timing when to buy and sell. On the other hand, investor use the "buy and forget" method. They just buy regularly at any price levels hoping to average down, so when the market suddenly wakes up, they have somewhat lower price average and can sell it high. But mind you guys that this only works if you got unlimited resources/money and time. Because who knows when the bearish sentiment can turn around? No one. We're just dealing with probabilities.

For making profits and getting rich earlier than others, one should adopt bitcoin trading and this is not my opinion but what I have learnt after watching the market for years now. Bitcoin trading appears to be difficult while it is not. The only form that can trouble a trader is day trading and that too if the person has tried to come to the top of ladder directly. BTC is a volatile coin and should be checked at least twice daily.

KingdomHearts

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Quote from: kamudd on May 01, 2018, 12:05:28 AM

Quote from: mikelexus on April 17, 2018, 11:53:54 AM

how often do you check BTC price and how to cope with stress associated with this? I am checking it every few hours and it drives me crazy and makes me anxious. Is there anybody in a similar situation and how do you cope with this?

PS: I was trying to do this once a month, but I think, I missed the beginning of the bear market in January this year because of this.

Thanks,
Mike

for me to see market prices very often will make me experience a sustained panic and now I have decided to change it and try to see the market price around only once a week and it makes me a little calm.

There are so many investors who keep on checking the market value of the coin in which they have invested in on daily basis, in fact they keep on checking the market value after every 5 or 10 minutes. There is no such need of doing anything like that because of the reason that doing so will never result in increase in the market value of the coin and that you need to stay patient and that you need to keep your nerves under your control.

coinplus

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Quote from: flamengo10 on May 02, 2018, 07:35:28 PM

I am checking it every time and it got me to be Shocked

But most people do not get is that checking is not the problem but the way you react to what you are checking is the problem. While some are always busy looking to see how bad there market is doing, I always look out for FOMO in any market I am holding and I trade that huge increase.

There is really no huge rally that does not come back testing the bottom one way or the other, but why should I buy, see a lower price when I check and then panic ? That is the problem some people always have.

flamengo10

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I am checking it every time and it got me to be Shocked

Primal6666

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Firstly, it is not clear why you should be nervous if you can not influence the price. Secondly, if you are engaged in trade or investment, you are obliged to monitor its price every day. Bitcoin is one of the market markers, if bitcoin become is much cheaper, then you should not expect the bull market.

Palodar

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Quote from: Coin-1 on May 02, 2018, 06:25:22 PM

Personally I check the CoinMarketCap almost every day, but not every hour. I look at the price of all top ranked crypto currencies, not only Bitcoin. Just don't invest in the crypto currencies too much of your money, and you won't be needed to cope with stress. Don't worry, be happy! Wink

It's easy to use coinmarketcap as we can see all coins that we must have, monitoring is a must in every trader to know if its the time to do selling or if there are potential coins to buy at dip.

SkvorNyc777

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Swipe!

I usually do that 1 time a day and don't feel stress at all. Just make yourself busy and will have no time to worry about the BTC rate.

Coin-1

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Personally I check the CoinMarketCap almost every day, but not every hour. I look at the price of all top ranked crypto currencies, not only Bitcoin. Just don't invest in the crypto currencies too much of your money, and you won't be needed to cope with stress. Don't worry, be happy! Wink

FrueGreads

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Quote from: mikelexus on April 17, 2018, 11:53:54 AM

how often do you check BTC price and how to cope with stress associated with this? I am checking it every few hours and it drives me crazy and makes me anxious. Is there anybody in a similar situation and how do you cope with this?

PS: I was trying to do this once a month, but I think, I missed the beginning of the bear market in January this year because of this.

Thanks,
Mike

I guess it really depends on your goals. If you want to trade, then you really need to check it on a regular basis. In fact I think you should have market alerts in order to not miss a trading opportunity. On the other hand, if you just want to hold BTC then there is no reason to check it every few hours. I actually check it on a daily basis just to see how things are doing, but it's really just curiosity. I check the news to stay informed and check the price, but I have no plans on selling it really. So basically it has no effect on me, and it doesn't make me anxious.

Xising

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Quote from: mikelexus on April 17, 2018, 11:53:54 AM

how often do you check BTC price and how to cope with stress associated with this? I am checking it every few hours and it drives me crazy and makes me anxious. Is there anybody in a similar situation and how do you cope with this?

PS: I was trying to do this once a month, but I think, I missed the beginning of the bear market in January this year because of this.

Thanks,
Mike

Upon thinking, I actually think that I check it daily, to be specific, a couple of times a day even. I do that because I want to be updated with how the market is doing. That is important to me because it helps me know which deals should I pursue and which coins should I invest in or stay away from. It pays to know the important details this market has to offer because it would be your guide to know if what you're doing is good enough to be considered business or just a Hail Mary Long Shot type of move that makes people lose their investments.

BUK2016

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Well, I use to check bitcoin market value on a daily basis and not only bitcoin but others like ethereum, lisk, bitcoin Cash and some others that I have interest in buying or selling.

flower1024

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Quote from: mikelexus on April 17, 2018, 11:53:54 AM

how often do you check BTC price and how to cope with stress associated with this? I am checking it every few hours and it drives me crazy and makes me anxious. Is there anybody in a similar situation and how do you cope with this?

PS: I was trying to do this once a month, but I think, I missed the beginning of the bear market in January this year because of this.

Thanks,
Mike

Every morning i will open CMC and check the price, suppose if i plan to convert my coins to fiat that time i will keep one amount in my mind and will check multiple times per day or else will check one or 2 times per day. I know in one day the price will not increase more than 100% so once in a day is enough for me and if the price drops i will not take that much serious because I know it's common.

Jambolb2

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Quote from: mk4 on April 17, 2018, 01:08:40 PM

I'll admit that I still check BTC's price as frequent as when I first got into cryptocurrencies, but I sort of feel "numb" to the volatility. Bitcoin crashes by $5k? Meh. Alright. Time and experience in the blockchain ecosystem made me used to the huge price swings I guess.

Normally, time and experience will always help. Most of us have been there in the past and those who really never had that problem were those who invested when it really does not have much value and no serious fluctuation since there was no market for it anyway and all they had was hope and belief that one day, things would get better. However, if those who are buying now can also have that mindset, they really would not bother about now, and they would rather focus more on the future.

Jhomzky23

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Actually it depends on your perspective. If you're a trader, you have to check the price action every once in a while, so you would know the proper timing when to buy and sell. On the other hand, investor use the "buy and forget" method. They just buy regularly at any price levels hoping to average down, so when the market suddenly wakes up, they have somewhat lower price average and can sell it high. But mind you guys that this only works if you got unlimited resources/money and time. Because who knows when the bearish sentiment can turn around? No one. We're just dealing with probabilities.

yohan09

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I spend 2 to 3 hrs daily, Stress doesn't matter at all, If you love your work, you can do anytime you want. As long all things youve done makes you happy, I am always excited to check how far does my coin reach, In every fluctuation, Update is very important to anticipate the direction of the coins:)

Arwinkim

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Quote from: mikelexus on April 17, 2018, 11:53:54 AM

how often do you check BTC price and how to cope with stress associated with this? I am checking it every few hours and it drives me crazy and makes me anxious. Is there anybody in a similar situation and how do you cope with this?

PS: I was trying to do this once a month, but I think, I missed the beginning of the bear market in January this year because of this.

Thanks,
Mike

I have an issue too. I check my erc20 portfolio in etherscan almost every 5 minutes. In spite of its low balance, it does make me anxious and stress. Moreover, I am always holding my smartphone everytime. Usually, I cope it by playing games for awhile and watch some movies. I think we all have missed t already the bear market in Q1, so better find other good projects to invest by now.

feelideb

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Checking bitcoin price is the stress! I would advice you do not make habit of it. There funder mental that guides bitcoin price and many other event come along that can signal to you whether to sell or buy or hold..

Bonsaiav

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In fact bitcoin prices are very volatile can rise significantly even drop significantly in a short time even minutes.
So, inevitably I have to check the index chart every hour to avoid severe losses and hope to make a profit.

Quote from: mikelexus on April 17, 2018, 11:53:54 AM

how often do you check BTC price and how to cope with stress associated with this?

Stress a human thing of course ever experienced by everyone. Normal stress can have a positive impact because can help you work faster while pursuing the deadline.
But you must be careful, stress conditions can have a negative impact, if frequent and prolonged.

There are several ways to Control Stress, among others:
Spend all the burden of feeling, Sports, Meditation, Live your hobby, Live life in the present, sleep enough and always eat healthy and nutritious food. Avoid smoking, consuming alcoholic beverages and illegal drugs.

kamudd

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Quote from: mikelexus on April 17, 2018, 11:53:54 AM

how often do you check BTC price and how to cope with stress associated with this? I am checking it every few hours and it drives me crazy and makes me anxious. Is there anybody in a similar situation and how do you cope with this?

PS: I was trying to do this once a month, but I think, I missed the beginning of the bear market in January this year because of this.

Thanks,
Mike

for me to see market prices very often will make me experience a sustained panic and now I have decided to change it and try to see the market price around only once a week and it makes me a little calm.

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