In the emotional market, price volatility is driven by emotions. To emerge on a market driven by emotion, you have to eliminate emotion from your trading.
Here I will talk about what you should do and should not do in this market. It is very difficult to keep up with Bitcoin prices and you will wonder whether Bitcoin prices will return to this level again. I can not predict this, but most people are confident that prices will recover.
Do not try to catch the bottom correctly
If you are fortunate enough to have some of your capital when the market declines, this may be a good time to build your portfolio. I like the market's adjustment and almost no participation when the market is falling sharply - but bottom-fishing when the market fell has made me several times heavy losses.
Not sold when prices are rising
All of us have bottomed out in the downtrend just to wait until the price goes up.
It seems that every time I get entangled in FOMO and proceed to sell immediately the price of that kind of coin increased.
Do not stare at the chart all day
Whether you like it or not, you can not control the market up or down at your own discretion.
Trust me, initially, I also spent countless hours tracking the chart. Now, I find myself wasting that time. Sure, I spent a lot of time researching and applying what I learned for my trading, but I also spent a lot of time staring at the computer screen for hours on end. Track charts.
I learned that most of my mistakes were made in such moments. Taking hours to look at a continuous chart will make you fatigued and may make emotional decisions.
Maybe this is my share of nothing special with the experienced trader but I think it may be very useful for newbie.
