A group of people are added to the cryptocurrency circle every year. After each bull market, a large number of leeks will flock into the market. We call these people bag holders and young leeks.
They are bystanders who saw the birth of invisible rich people in the circle, and felt that they had missed out on 100 million yuan. In anxiety, they finally joined in and became a member of the cryptocurrency trading;
They are middle-class white-collar workers who are struggling under the pressure of life and work. They are about to reach the age of 30 and have achieved nothing. They hope that the investment in virtual currency can be exchanged for a car and a house to make a living:
They are unemployed young people in Africa. They learned about this path to wealth in the virtual currency investment crash course and hope to use their own "intelligence" to walk a different life path from their parents.
They are also ambitious young people who have no worries about food and clothing but are never satisfied. They always feel that they should not miss any "era" opportunity and create their own glory and honor. These young people who are caught up in the anxiety of the times have missed the real estate and the Internet, and regard virtual currency as the next era. For many people, investing in virtual currency may be the only chance to achieve wealth freedom in this life, and they will not hesitate or lose it.
These people saw hope in virtual currency and gave virtual currency new hope.
To be successful, we need to know as much as possible about the market, but it is equally important that as traders, we need to understand ourselves and master ourselves in the fierce trading. Since there are huge gains and risks in the market, in the instantaneous changes of prices, success, failure, joy, frustration, reason, greed, calmness, fear and other emotions flash repeatedly in every investor. Therefore, human nature and psychology play an important role in the market. This is the "trading psychology" that has been increasingly valued by the market in recent years.
If your trading method tells you that you should make a trade, but you don't execute it, you miss a chance to make money and can only watch from the sidelines. This pain is far greater than the pain of entering the market and making a trade according to your own trading plan but losing money in the end.
Arrogance and the pride that comes from making money can lead to bankruptcy. Making money can make people emotionally agitated, which can cause their view of reality to become distorted. The more money you make, the better you feel about yourself, and the more likely you are to be controlled by your arrogance. The thrill of making money is what gamblers want. Gamblers are willing to lose money over and over again just for the thrill of making money.
Successful traders quantify and analyze risk, truly understand and accept it. Emotionally and psychologically accepting risk determines your mindset in every trade. Individual risk tolerance and trading time preferences also make each trader different. Choose a trading method that reflects your trading preferences and risk tolerance.
The farther away hope, greed and fear are, the greater the chance of successful trading. Why are there hundreds of people who can analyze technical charts very well, but there are very few truly excellent traders? The reason is that they need to spend more time on their own psychology rather than on analytical methods.
Most traders are not as patient as the market and its buy and sell signals. There is an old adage that the market will do whatever it can to drive most traders crazy. As long as there are people who go against the trend, the market will continue to trend.
The market is a collection of the psychological tendencies of all trading participants. The daily battle between long and short positions reflects what the long and short positions are thinking every day. You must pay attention to the daily buy and sell signals and the relationship between them, because this reflects the market's recent intentions.
