Topic: What is that psycological on trading? (Read 321 times)
One cannot say for sure which coin is good investment. I also experienced the same problem when I first invested in cryptocurrency. But I think one need to do some requirements before investing in it like view a project team, join peer-to-peer consultation, join bitcoin talk etc. One can also research own self to pick a better project.
Most of the time trading can follow psychology.
If most people start to get excited, they should sell some of it. If everyone starts to panic, you should buy it.
If most people start to get excited, they should sell some of it. If everyone starts to panic, you should buy it.
A lot of things can contribute to psychological problems when trading. When you trade without limit or budgets and become excessive in it. Especially when you invest in cryptocurrency which you think you can make money out of it quickly without considering if the coin or token is really worth it or not.
other people suggestions will not always be good even more likely they will attempts to trapped us and predict the market movement is quite difficult because we can't know the next pumped or upcoming dumped even i had several times bought altcoins at high price and sold at cheap price and this is common problem who dominate almost on every traders
There is no psychological sale in the virtual currency market. There is a problem about whether it is reliable or not. It is necessary to trade in this market to correct this situation, which is a result of a virtual market.
Psychology on trading is to tower extreme advantages so whatever disorder in bitcoin testament seizure altcoin and is miniature to seizure the chemicals released in the body.
It is a very accurate assessment to consider this as a psychiatric trade. We have been waiting for months for cryptographic money to appreciate. I'm starting to get tired of this.
What I always advice people of when trading is to always include the sell limit in their trade, it is better not to lose more than one can afford to lose because when a dump start you can always buy the dip and make much more than holding through the dump and hoping the price pick up again
Have you ever bought altcoin but after that the price actually decreased deeply? After many times it becomes bad suggestions for me every time I will buy, any suggestions from you who have traded more experienced than me? What's wrong and needs to be fixed? Thank you
As much as I have noticed, this seems to be something that all (especially newcomers to crypto) experience. I have experienced the same, and it has made me laugh how the price moves against my expectations after a trade. What I have learned of this, is:
- Invest only to those coins you really feel good about and that you know they have strong team and real working product.
- Learn to use your intuition (cut feeling), it does not lie, but you need some practice before you can be sure how it works.
- Keep your mind calm. Just tell yourself that crypto is volatile (goes up and down), but everything will be well again and you get your profit (You certainly will, if you stay calm).
- Look for serious sources of information and avoid manipulative hype.
- Educate yourself as much as you can, and you will be better and better in your choices.
- Believe in yourself. Have your goals and stick on them. "See" and feel as if you already have your dreams fulfilled.
Good luck and be happy!
I'm not an experienced person about trading. But I can give you one opinion. Most of the traders don't look at the charts. They only buy or sell coins when they feel to do so. sometimes it works sometimes don't. But if you have a better idea at when you should buy or sell then your chances for more profits are high. You can get a better idea about a coin by looking at its charts. So start looking at the charts right now. Other main thing is emotional control. That's the hardest part for almost all traders. Lean how to control your emotions. It will take some times. May be days/ weeks/ months or years.
You buy into the hype and only come in when the dumping start. The best thing to do in such a situation is to use technical indicators to verify a chart that if what you read on your chart correspondent with the news they are hyping, before you purchase. It is most adviceable to to buy and trade only established coins ,not just tokens that got listed on exchange.
Probably the best advice i can give you about trading is that you should leave your emotions behind you if you want to be good trading,this is extremly volatile market and its not easy waking up and seeing that your portfolio went 3-5x down durring the night. Do your maths and calculation before the trade and stick with it.
Altcoins are extremely volatile due to their tendency of reacting to bitcoin movement pretty fast, so it is a market you need to trade with some level of knowledge and carefulness. Also, there could be some things you are not doing well, with respect to the point at which you have been buying, your strategies (that is if you have any), and the importance of planning an exit even before entering a trade. This is something that is highly necessary if you want to really be trading any market.
I think that a lot depends on the small traders, who are the most in the crypt. They are very vulnerable to FUD and this also needs to be considered ..
I do not risk so much to buy coins on a strong dump, even Bitcoin or Ethereum, because everything can change in a matter of seconds.
Each trader is guided by one goal - to make money on the crypt, but very much depends on the character of the person- tolerant, quick-witted, hypochondriac and so on. Psychology of crypts depends on each of its participants.
I think that the most important thing in trading is to stay "cold hearted". Also you need discipline and patience. You should turn off your emotions.
since i have had that problem in the early days of my trading journey i can tell you that the reason for losing money after you buy something is that you are always buying that thing too late. the reason for that can be different. usually it is because when some altcoin is pumped that altcoin will start being advertised a lot and that leads some beginners to believe that altcoin really has some potential so they buy it not knowing they are buying into a bubble and after the pumping phase ended. and surely enough after that phase will cone the next phase called the dumping.
the solution is simply to
... stop listening to the hype
... start looking at the charts
... learn what a pump and dump looks like.
then you just buy before the pump ends and never invest in a coin that you see is being talked about on the internet a lot. for example if you opened bitcointalk and saw 10 topics about an altcoin that weren't there before then you stay away from that altcoin.
the solution is simply to
... stop listening to the hype
... start looking at the charts
... learn what a pump and dump looks like.
then you just buy before the pump ends and never invest in a coin that you see is being talked about on the internet a lot. for example if you opened bitcointalk and saw 10 topics about an altcoin that weren't there before then you stay away from that altcoin.
good advice and worth a try. in fact, his case was similar to the one I experienced. and until now, lucky I was impatient and unwilling to hold coins that I have with the hope of a few more years will experience increased again.
Trading is an art, you can not be sure that a coin bought on a decline necessarily grows. Each case is individual and it is necessary to consider it separately.
Have you ever bought altcoin but after that the price actually decreased deeply? After many times it becomes bad suggestions for me every time I will buy, any suggestions from you who have traded more experienced than me? What's wrong and needs to be fixed? Thank you
Start learning some basic technical analysis because it will really help your ass from getting rekt,i am telling you honestly you arent going to win your trades without using technical analysis,fundamentals would be much easier to learn ,you will just need to follow the news focus more in technicals and im sure you are going to make a lot of money. Jump to: