Biggest mistake investors make in any market is to trade on emotions.
People panic and sell when things are dropping, so they lock in a loss. Then they rush in for FOMO when things are up - and end up paying too much..
Buy low, sell high :)
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You're right when you say biggest mistake people make is trading on emotions.
Gotta have a long-term game-plan / goal in mind and stick to it. Corrections are going to happen, need to learn to ride them out.
Yep. The only way you actually lose money during a crash is if you sell and lock in at that price. There's no reason to believe things won't recover at this point. Usually things will be flat for a bit before a real crash. People have to lose their optimism that there will be at recovery. Right now people are still too bullish so there are a lot of people willing to buy in at the bottom of a correction. As long as that's true, corrections will bounce back.
Right on @snubbermike, you will see how much I agree with this post last night...https://steemit.com/steem/@cryptkeeper17/see-those-prices-steem-hodlers-longs-buyers-time-to-be-excstatic. Well stated @snubbermike! UPVOTE
That's correct
I have done it several times and lost some money
https://steemit.com/contest/@manojm/contest-3-win-free-1-steem-by-defining-what-is-success
@firepower be sure to check this blog
It will be helpful for me
most people who are coming in are trying to make a quick buck so they will sell when they see a correction, it is part of the coin market to rise and fall