🎯 1. This is sincere advice from an experienced trader. For beginners.
The reason I often talk about CAPITAL MANAGEMENT is because I know many of you have not experienced the feeling of 'bankrupting' your account, losing money without understanding why, and losing faith in the market...
Therefore, my advice is: Divide your money into 5 parts when participating in the market.
Take 1 part and view it as the only amount to participate in the market. (Forget about the other 4 parts)
Deposit money into your account and invest freely. Play like a person who wants to invest.
You will experience 2 feelings:
Excitement when making money easily, the market is so good that holding the phone can also 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 the invested money along with interest.
I'm sure that once you haven't fully understood. So take one more part and continue to invest. After that, you will go through the story as above.
I hope 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 a lot of profit quickly and may not accurately assess risks in their trades. They may continue to invest even though they know the market is declining, just because they hope the price will go up again.
Market-influenced mentality: The Crypto market can change very quickly and strongly. Therefore, investors can become more emotional and susceptible to those changes. If the price drops, they can become anxious, restless, and may 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 pressure to make decisions, especially in cases where they have lost money. They may feel pressured to make quick decisions without enough time to analyze information and understand the market.
Confidence and naturalness: Successful investors can become overconfident in their abilities and easily turn into gamblers, seeking new and larger trading opportunities without assessing risks. They may be enchanted by previous success and believe that they can earn more money in the future.
Therefore, to become a successful investor in the cryptocurrency market, one not only needs knowledge about the market and analysis, but also needs to monitor emotional management.
