So you've just found Crypto-currency and you see that everyone seems to make millions in their investment but you don't seem to be able to replicate that because you are stressed out or tend to panic sell? You're not alone and you need to ask yourself the question: Am I doing the right thing and what is my risk limit?
People don’t seems to understand the difference between short,medium and long term trades and always join in a huge project under development and somehow expect everything to go fast and to make x 100 their investment in like days so they go stupidly all in, selling their car,get a mortgage on their house and sell their wife and kids and then they are to the verge of panic every time something move up or down and go crazy when it’s not going back up exactly in the 2 hours range they expected etc.
Golden rules in investment:
1-Spend only what you can afford to loose
2-Never put all your eggs in one basket (Spread your risk into multiple investments not just putting all you have in one)
3-Learn to decide upfront for each investments exactly the reason you invest: Short swing profit, medium x2 profit and leave or Long term investment believing in a project that you plan to leave your money for at least 6 month to 1 year because you trust said project and hope for a 100x + ROI/pos/masternode whatever that will be a long term investment.
4-Never Panic Sell as about 80% of the time you will regret it because either the price will come back up or not only will it go back up but the project will skyrocket and you will hate yourself for leaving too soon and missing profit or even losing money on panic selling
5-Buy in the dip and Hodl till you get your targeted profit
6-Don’t be greedy, do smart investments that are base on something that people want or need, this way you will avoid just joining a Hype or a pump and dump and end up with the bag.
7-CALM THE FUCK DOWN ( if you are a easily stressed or insecure person, consider investing even smaller investment (5-10% of your available stash to try and lower the stress, also put some buy/sells orders to simply make your profit without having to stop sleeping and wasting your time 24/7 in front of a chart or you’ll die young with cancer and shit out of all this stress)
If the above still not calming you, consider that investment might be too stressful and that this might simply not for you then you can consider making money differently using your sets of skill and leave trading for those that got that stress limit very high.
Upvoted your post! I feel someday bitcoin will become greater than gold, a beacon of light in the night that's so bitter and cold.
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