Topic: Psychology when entering the Cryptocurrency market. - page 3. (Read 2192 times)
A stable mentality will give you the right decision. And investment in the cryptocurrency market should also be psychologically ready. What do you think?
I can understand why people get cold feet when they see the market dip in the red. Actually, "Losses Hurt More Than Gains Feel Good".The fear of losing $1000 is always bigger than the joys of winning $1000. In essence, human beings are irrationally, meaning that we tend to act emotionally. That's the reason why "Losses Hurt More Than Gains Feel Good". But investing is the sport of calm man and numbers, which requires rationality, not emotions. So set aside your fear and calmly analyze the market to make right decision.
Thanks for sharing. If you are scared of the stock market, you need to get to the point of understanding that the market goes up and down. Over time, it tends to go up more than down. Education is key here.
No need to get things too complicated. Just invest only what you can afford to lose and you’ll be fine mentally. There would be less anxiety and stress.
I think the psychological condition when entering the cryptocurrency market should be ready with all the risks that will occur and must be able to control the patience you have because when you can't control it all then you will panic easily.
Its the risk appetite what you can accept, investing in any financial market is a risky business, would rather say not only in financial market but in any business, if you open a restaurant with huge investment, is it a surety you will have a good return after making all the expenses may be not, same is the financial market, only difference is financial market is more volatile but it is more profitable at the same time, cryptocurrency is the latest market to invest, judge your risk and your reward will be equal.
Here is my addition to your great post.
To a certain extent, risk is really necessary, especially here in crypto. If you do not take risks, you will not make gains. However, make no mistake, I am not saying to just take risks. There are people who are only fond of taking risks without really thinking over their decisions at least a couple of times. If you want to take risks, make sure that you are taking it with full knowledge of the possible repercussions. Do not just blindly take risks.
I agree with your thoughts. In my own country there is a saying "Failure is the mother of success" To a certain extent, risk is really necessary, especially here in crypto. If you do not take risks, you will not make gains. However, make no mistake, I am not saying to just take risks. There are people who are only fond of taking risks without really thinking over their decisions at least a couple of times. If you want to take risks, make sure that you are taking it with full knowledge of the possible repercussions. Do not just blindly take risks.
I make it easier! If I invest, I mentally say goodbye to this money! And then there is no problem)
Actually you really need it become you have to be mentally healthy in whenever you start investing. It requires a lot of courage so be ready in any scenario that is about to happen. You gotta learn how to deal with problems and without proper psychological science you can't do itanything. Your mental state should always be good.
Here is my addition to your great post.
To a certain extent, risk is really necessary, especially here in crypto. If you do not take risks, you will not make gains. However, make no mistake, I am not saying to just take risks. There are people who are only fond of taking risks without really thinking over their decisions at least a couple of times. If you want to take risks, make sure that you are taking it with full knowledge of the possible repercussions. Do not just blindly take risks.
To a certain extent, risk is really necessary, especially here in crypto. If you do not take risks, you will not make gains. However, make no mistake, I am not saying to just take risks. There are people who are only fond of taking risks without really thinking over their decisions at least a couple of times. If you want to take risks, make sure that you are taking it with full knowledge of the possible repercussions. Do not just blindly take risks.
People who are weak hearted and gets depressed easily cannot be helped once the price sees a slump. If they cannot stay strong and keep patience during situations like these then it is very likely for them to fall for FUDs and lose all their money by making stupid decisions. So, it is very important to self analyze what the next step should be when the market faces a dump.
That is a good observation. People know if they want to make money on this market they have go buy when 'blood is running down the streets' and sell when we had a period of double digit green. But as you pointed out there is discipline and strength required to do that and most people are simply to weak for that.
I want to add. When entering the crypto market, you should always rely only on yourself. You can not listen to anyone's opinions, because the crypto market always plays against the opinions of society.
I can say that people with this type of attitude when they enter the cryptocurrency market will be the most durable people from all the others, because every obstacle that they will face here, they will be prepared.
I think we have a psychology close to paranoid. my investments are actually small amounts. but I am still afraid of winning ambition.
TAKE RISKS
First of all, you have to "take risks". Repeat again, accept risk!
When you spend your money investing Crypto or any array, the potential exists, but also contains many risks. Securities are also risky, driving off the road every day is also risky. In general, it is impossible to predict what will come, our eyes can not see, think of things in the future. If you start, you accept the risks and in mind always get to know these things, you can start the journey, understand what is doing, why, why lose?
"Use the money you can control to invest"
"What's up with the reason, accept and move on?" At that point, you will focus on the goal and make a profit.
DO NOT BE AFRAID
Second, uncertainty and always suspected spread around the world of investment. Large Crypto owners are called "whales" trying to manipulate the market in their own way. They use social networks, large news sites to spread distorted information that draws attention from the community. Finally, the benefits still belong to them, this is not too high, but for the Cryptocurrency market is too new, the community is too young. So ignorance is inevitable, just speculation and followers of the accusers.
Failure to listen to others say this coin will increase, this coin will fall. You need to have a plan for yourself, do not listen to rumors out there. All you have will be a great experience and keep trying!
REGRETS
When you see a strong growth from a coin and always have the thought that "Why did not I buy it before, have been reminded and then forget ..." That is called Fear Of Missing Out or FOMO. This syndrome occurs in a lot of people, but ignore it, do not follow it. Patience will help you to take long in this market Cryptocurrency.
WANT TO RICH SPEED
I suggest you rethink, do not have any job rich quick, if there are some cases but not you. Someone, sowing information for you when joining will be profitable ... Forget now. If you are a beginner, consider keeping a hold of money and not losing it. Then continue to experiment and do not like the last time ... You probably do not believe, but this is part of the investment, the most important thing is that you learn from it. Learn from the mistakes you make and try to make it better the next time. Failure will be difficult to overcome, for the same of the same, but realize these early will help you get ahead and get income in this harsh market.
P/S: Please contribute your comments in order to build this article !
First of all, you have to "take risks". Repeat again, accept risk!
When you spend your money investing Crypto or any array, the potential exists, but also contains many risks. Securities are also risky, driving off the road every day is also risky. In general, it is impossible to predict what will come, our eyes can not see, think of things in the future. If you start, you accept the risks and in mind always get to know these things, you can start the journey, understand what is doing, why, why lose?
"Use the money you can control to invest"
"What's up with the reason, accept and move on?" At that point, you will focus on the goal and make a profit.
DO NOT BE AFRAID
Second, uncertainty and always suspected spread around the world of investment. Large Crypto owners are called "whales" trying to manipulate the market in their own way. They use social networks, large news sites to spread distorted information that draws attention from the community. Finally, the benefits still belong to them, this is not too high, but for the Cryptocurrency market is too new, the community is too young. So ignorance is inevitable, just speculation and followers of the accusers.
Failure to listen to others say this coin will increase, this coin will fall. You need to have a plan for yourself, do not listen to rumors out there. All you have will be a great experience and keep trying!
REGRETS
When you see a strong growth from a coin and always have the thought that "Why did not I buy it before, have been reminded and then forget ..." That is called Fear Of Missing Out or FOMO. This syndrome occurs in a lot of people, but ignore it, do not follow it. Patience will help you to take long in this market Cryptocurrency.
WANT TO RICH SPEED
I suggest you rethink, do not have any job rich quick, if there are some cases but not you. Someone, sowing information for you when joining will be profitable ... Forget now. If you are a beginner, consider keeping a hold of money and not losing it. Then continue to experiment and do not like the last time ... You probably do not believe, but this is part of the investment, the most important thing is that you learn from it. Learn from the mistakes you make and try to make it better the next time. Failure will be difficult to overcome, for the same of the same, but realize these early will help you get ahead and get income in this harsh market.
P/S: Please contribute your comments in order to build this article !
You're right, but most people who come to crypto are only focused on the fourth point "WANT TO RICH SPEED" and when the market falls they are easily panicked.
In my opinion, 3 important rules that investors should not ignore.
1. Do not put all the eggs in one basket
2. Patience is very important
3. Consider circulation supplies
Based on these three principles to invest in electronic money you will feel more secure. Wish you luck and success on the road of conquering electronic money, conquer our own future
To make a profit, you have to buy cheaper, sell more expensive. That is, like when investing in conventional currency. Naturally, the basis of the tools and principles of determining commercial goals is set in the same way as on the stock market. It can take a huge measure of your worthiness on the opportunity. You do not have to be careful.
Of course, when you start to participate, you always have the psychological to explore and make money from the crypto. Participating in crypto is risky, the big profit is its attraction
Good psychology only works if we have the right and strong discipline. All of the things that OP have said is just easy to apply when you are disciplined and you don't even need those pro tips because you have the perfect weapon to succeed.
A crypto investor has to have courage in his heart. He should not afraid of the price fall as it is the nature of the market. Sticking with own coin is the strategy of this market and who has done this has achieved the gold.
This a bubble market here an investor have to show immense patience to get rich by crypto currency. If anyone thinks that he will become milliner over the night then he/ she should change his/ her mind and understand the past crypto milliner’s attitude toward the market.
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