there're no way you can overcome it if you can not handle your emotion,
the only thing that i know is by preventing it,
what i mean is whenever your portfolio goes down,that time you need to take vacation or stop doing trading.
if you can not contol your emotion,you will never can overcome it.
just put your your orders and then leave it alone.
but before doing all of this make sure to make your strategy,
where is your sell order and in what level it would be,do not use this strategy to place your order based on your speculation not your strategy.
no matter how good we are in trading daily,the profit that we got will never can surpass the holders.
Topic: How to overcome the fear of holding? - page 37. (Read 4505 times)
I've always been one who sells to earlier, either to minimize my losses or to realize my earnings ASAP and leave. I've seen in most of my investments, if not all that if I would've just left the coins there they would've been worth 10-50x what I put in before. This is upsetting as a person and trader, as I see how much money I'm missing out on.
How do you traders do it, hold and hold and hold. Waiting around for more and more money?
How do you traders do it, hold and hold and hold. Waiting around for more and more money?
Some traders have this so called exit strategy as well, If the goals has been reached in their exit strategy then they sold of all if not some of their coins. Others I think will just simply bought huge amounts and then will will just let it sit on their hardware wallet like 5 years or so. Those are investors who are willing to wait and they can afford to wait that long and never bother to check the price. But when the 5 years is up, they revisit then sold entirely and realizing their profits in years.
You already know the answer. Before panic selling, just keep in mind what youve experienced on your past transactions. If you make your mindset focusing on how big the interest your coins will be on future if youre not going to sell it, im sure you can controll yourself and be rewarded when the price increases. Always be patient
If you hold bitcoin and planning sold in after years then there’s no reason to be afraid because we all know bitcoin is powerful and it will surely soaring higher in the coming years. If you don’t have much knowledge on trading then you should try to hold so you can secure profit in the future.
What really helps me is to understand the length of the cycle I got in. Imagine A cycle having a pump and dump just to make it simple. I get in the dump and keeps dumping on me, I would try to understand a larger time frame because usually what would freak me out would be a smaller time frame because of things not looking good for the short term. But then I realise that there has to be lots of ups and downs within the cycle to make that big ONE UP and ONE DOWN movement that defines the cycle.
So always try to understand the bigger move the market is trying to make because that will define if it's reasonable for you to exit your position considering the potential losses or profits you have. Lots of time, a lot of FUD is needed to get FOMO later on, and viceversa. So if technically you feel obscured, question yourself about the fundamentals of the coin and the argument coming from both sides (technicals and fundamentals) would confirm you the best decision to take with your position.
So always try to understand the bigger move the market is trying to make because that will define if it's reasonable for you to exit your position considering the potential losses or profits you have. Lots of time, a lot of FUD is needed to get FOMO later on, and viceversa. So if technically you feel obscured, question yourself about the fundamentals of the coin and the argument coming from both sides (technicals and fundamentals) would confirm you the best decision to take with your position.
I've always been one who sells to earlier, either to minimize my losses or to realize my earnings ASAP and leave. I've seen in most of my investments, if not all that if I would've just left the coins there they would've been worth 10-50x what I put in before. This is upsetting as a person and trader, as I see how much money I'm missing out on.
How do you traders do it, hold and hold and hold. Waiting around for more and more money?
How do you traders do it, hold and hold and hold. Waiting around for more and more money?
One way to avoid this problem is hold half of your Bitcoins and altcoins long term and don’t sell them at all for 5 years. Then use the other half for trading.
One thing I have done when trading is when you sell, don’t sell all at once. Place a sell order for part of your investment and then wait to see what happens before you make a decision on the rest. I do the same for buying. I buy with part of my fiat, then wait to see if the price drops before buying more. This way you leave yourself some leverage to react to the next market move.
Simply forget about your coins. Stop to read any news related and stop to check the price daily or 2-3 times a day. You will have less stress and so less fear of your coins. Do it at least 1 month and you will see. 1 month is nothing in a life. After a month just do your usual stuff once a week, check the rate, read some news, ect, close everything and keep rolling the life.
Well holding is just like saving maybe yo overcome fear of holding is quite different from investing saving is really nothing to be fear about because it has a big possibility that we can earn through holding specially in bitcoin .maybe people who fear in holding had doesnt much experience on crypto curency and maybe they dont have enoughf experience on it .
I've always been one who sells to earlier, either to minimize my losses or to realize my earnings ASAP and leave. I've seen in most of my investments, if not all that if I would've just left the coins there they would've been worth 10-50x what I put in before. This is upsetting as a person and trader, as I see how much money I'm missing out on.
How do you traders do it, hold and hold and hold. Waiting around for more and more money?
How do you traders do it, hold and hold and hold. Waiting around for more and more money?
Hello squatz1,
Been there many times!! I am planning to start intra-day trading the crypto markets once I figure out a safe and reliable broker to use with MT4.
I understand the feeling. You take a take trade, making money, now should I exit, but what if it keep going, what if turn around on me, what about the next trade, i will feel like an idot if I miss this trade.
Questions:
1. What is your rule for profit taking?
2. Why is that your rule for profit taking? Do you have any statistically or proven evidence for this profit taking rule?
3. If you have evidence that taking profit early will overall keeping you making money consistently, why be upset when take profit? For example, if I had some type of proof from a back test or some guru trader saying "goodoboy, every trade you take 100 pts and you will make $40K in a year" i will definitely take 100 pts per trade.
You see what I mean. It's not about 1 or 2 trade, it's about consistently doing what's in your rule book for 1000 trades tha will earn you $XX,XXX per year. The rule book can be a gut feeling, dog whisper, paid service, etc. Your job is a trader is to be an unemotional money maker.
I hope that make sense.
I've always been one who sells to earlier, either to minimize my losses or to realize my earnings ASAP and leave. I've seen in most of my investments, if not all that if I would've just left the coins there they would've been worth 10-50x what I put in before. This is upsetting as a person and trader, as I see how much money I'm missing out on.
How do you traders do it, hold and hold and hold. Waiting around for more and more money?
How do you traders do it, hold and hold and hold. Waiting around for more and more money?
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