If you are new to the crypto space, you should read this.
You decide to invest in a coin or token
You do your own research and find a project that feels just right
You gather your funds, transfer these onto the exchange and go forward with the purchase
You sit back, not relaxing, but checking the tokens progress every 5 minutes or so
The token does well, but suddenly there is a drop
You worry a little but think that this is only temporary
The token goes up again, slightly only and you sit back again and feel that it's only going to stay in the green again, constantly green... green... greeeeeeeen
Yet, after a couple of hours, the token decreases in value, it goes onto red
You are confident that it will rebound back, it hasn't yet, it keeps going down, and down, red.... red... and more red
You start to panick and thoughts of an immediate sell off creep in
'Should I sell now, at a loss and lose some of what I invested?' - you consider anxiously
The market keeps going down, what is this? What is this R E D + R E D + R E D that is all over the charts?!
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'What am I suppose to do?' - you consciously ask yourself without realising that your inconscient is playing tricks with your reasoning mind and self
Calm. Calm. More calm and patience!
Markets always rebound
What you need to be prepared for are these moments of despair, when all charts are red and your money is becoming thinner and thinner by the second
This is when discipline and a winning mentality will make you or break you
How to overturn this moments is to:
1 - never buy a token when it is in the green
2 - study the market in advance, observe how the specific tokens behave,what are the projects fundamentals, how active are they in terms of presence and development in the market, investigate the token's community and its strength
3 - invest only what you can't afford to loose
4 - find the token's support and resistance to determine your best entry point at that moment in the trend
5 - always, A L W A Y S , I repeat:
ALWAYS keep some funds on the side to DCA (dollar cost average) into the chosen tokens once/if the value goes down. As such you can lower your entry point and guarantee a steady journey with your chosen token
6 - see point 1
I hope this helps ✌️
Leave your comment below about your strategies, and always trade safely, please, please, please 👀
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P.s. - No trader or Holder has turned 100% of its ventures into profitable investments, the rule is you loose some, you win some. Make those wins count ✌️
