Don’t monitor your charts for days - it won’t give you anything 😊
Daily monitoring of charts will give you nothing but nerves and additional risks of taking a rash action. Anyone who considers themselves a market participant, whether with a deposit of $1,000 or $100,000, must have a plan of action. In short, after analyzing the project, it is necessary to indicate the price range for purchase, the price range for additional purchase in case the price falls. You should buy more no earlier than the coin drops by 50% of the purchase price. Only in this situation does it make sense, since by purchasing every 10-15%, soon the entire deposit will go into one coin, and the average purchase price will not change much.
We also need to designate the price range for sale: we need to determine at what points we will take back the investment and leave free coins. Either we unload 50% each, or we sell all the coins when the price is reached - this is no longer so important. The important thing is that there must be an action plan - always, so that when the price jumps, we don’t sit at the monitor and wonder: “Oh, it’ll probably rise again and then I’ll sell it” or “Oh, it’s gone up by 20%, I’ll probably sell it now.” " The plan eliminates nerves and rash actions, which is why 90% lose their deposits. A series of stupid purchases and sales of the same coin 10 times begins. As a result, growth is missed, the range for purchasing is missed, and the portfolio is in minus.
Daily market monitoring gives the same result. Even if a person has a plan, but he constantly monitors the charts, he begins to react to every fluctuation of +10%, -10%. At the same time, he is subscribed to a million channels, which for the most part shout “cue ball gold” when it rises, “cue ball scam” when it falls, and do this at every swing. This is all white noise, unnecessary garbage that you fill your head with. It is important to determine the global scenario, then select projects, identify areas of interest and wait. The zone of interest is reached - buy, not reached - you wait. The same is true for sale.
There is no need to sit behind charts and monitor them for days. The crypto market is structured in such a way that +10%, -10% is just local tinsel, which is not even worth attention. There is no need to sit and wonder: “Oh, why did the coin fall by 10 percent?” It can fall 10 times in a week and grow back. You don’t need to write “where will Bitcoin go” every day in all the chats where you are a member and discuss every day why the price fell or increased by 10 percent - this will not give you anything. Instead, spend time studying useful information, analyzing projects that interest you, and the global picture of the market.
If you are a member of the information field, where they pour slop into your ears a hundred times a day like: “Today Aptos has grown by 10 percent, if it maintains the level, then... and if not, then...” (Aptos, like other coins, don't care about your levels), run away from all this information. It is useless and fills your head, and a filled head leads to thoughtless emotional purchases and sales, and this, in turn, leads to loss of money.
In the market everything is decided by psychology. And if your head is filled with all sorts of bullshit, you can no longer think normally, you begin to think emotionally.
I hope I got the point across, if not, I’ll write in more detail about psychology in the market. 😃