🔑 The reason I often talk about CAPITAL MANAGEMENT is that I know many of you have not experienced the feeling of 'bankruptcy' in your account, losing money without understanding why, losing faith in the market...
👉 Therefore, my advice is: Divide your money into 5 parts when participating in the market.
Take 1 part and see it as the only amount of money to participate in the market. (Forget about the other 4 parts)
👉- Deposit money into the account and invest freely. Act like a person who wants to invest.
You will experience 2 feelings:
Excitement when making money easily, the market is so good that just holding your phone can earn money... To the point where you think about dropping out of school, quitting your job to focus 100% on trading.
Experience the feeling of fear and confusion when losing all your invested money along with interest.
👉 I am sure that once you may not fully understand. Therefore, take another part and continue investing. Then, you will go through the same story again.
I hope that after a few experiences, you will understand better. Please read again about capital management and try to adhere to it.
Many people only advise you but do not guide you on how to do it. This is the most correct way to do it.
🔥 2. Greed: Gamblers tend to want to earn profits quickly and may not accurately assess risks in their transactions. They may continue to invest even though they know the market is declining, simply because they hope prices will rise again.
Psychology influenced by the market: The Crypto market can change very quickly and strongly. Therefore, investors can become more emotional and easily influenced by these changes. If prices drop, they may become anxious, restless, and make wrong decisions based on emotions rather than accurate information and analysis.
High risk: The Crypto market is a very risky market, so gamblers may feel pressured to make decisions, especially in situations where they lose money. They may feel pressured to make quick decisions without enough time to analyze information and understand the market.
Confidence and naturalness: Successful investors may become overly confident in their abilities and easily become gamblers, seeking new and larger trading opportunities without assessing risks. They may be enchanted by previous successes and believe they can make even more money in the future.
Therefore, to become a successful investor in the cryptocurrency market, it is not only necessary to have knowledge about the market and analysis but also to monitor emotional control.
#MarketDownturn #BTC☀