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Title: Handing your Happiness to Mr. Crypto Market Post by: krishnapramod on April 02, 2018, 07:04:22 AM Prices falling – Signs of desperation – Emotional response – Reacting to predictions/Confirmation bias – Getting influenced by Mr. Crypto Market – Handing your happiness to Mr. Crypto Market.
Mr. Market, I guess most of us have heard about this hypothetical investor introduced by Benjamin Graham in his 1949 book "The Intelligent Investor". An investor who doesn't look at the big picture, fundamentals, long-term potential, but values the market according to his emotional responses, panic, euphoria and apathy. This is quite a common scenario in the nascent crypto market, prices going down, newbie investors getting deeply affected, emotions triggered, panic selling. The Mr. Market analogy is about a long term buy-and-hold strategy, crypto users preferred strategy, not saying it's the best, but obviously far better than emotionally reacting to market conditions. 1. If you're getting deeply affected by price then you're handing your happiness directly to the market, precisely linked to price. 2. You can decline Mr. Market's offer or ignore it, don’t have to check the price multiple times a day since he will soon come back with an entirely different offer. 3. You can stop caring about the price, and focus on the ideas behind crypto more. Quote He [Ben Graham] said that you should imagine market quotations as coming from a remarkably accommodating fellow named Mr. Market who is your partner in a private business. Without fail, Mr. Market appears daily and names a price at which he will either buy your interest or sell you his. Even though the business that the two of you own may have economic characteristics that are stable, Mr. Market’s quotations will be anything but. For, sad to say, the poor fellow has incurable emotional problems. At times he feels euphoric and can see only the favorable factors affecting the business. When in that mood, he names a very high buy-sell price because he fears that you will snap up his interest and rob him of imminent gains. At other times he is depressed and can see nothing but trouble ahead for both the business and the world. On these occasions he will name a very low price, since he is terrified that you will unload your interest on him. Mr. Market has another endearing characteristic: He doesn’t mind being ignored. If his quotation is uninteresting to you today, he will be back with a new one tomorrow. Transactions are strictly at your option. Under these conditions, the more manic-depressive his behavior, the better for you. But, like Cinderella at the ball, you must heed one warning or everything will turn into pumpkins and mice: Mr. Market is there to serve you, not to guide you. It is his pocketbook, not his wisdom, that you will find useful. If he shows up some day in a particularly foolish mood, you are free to either ignore him or to take advantage of him, but it will be disastrous if you fall under his influence. Anyone, or anything, bringing a present to the doorstep of your consciousness does not have to be accepted inside. They can be dealt with on the periphery, leaving the inner walls of your consciousness, and thereby happiness, untouched. Not accepting a present at your experiential doorstep doesn’t mean you can bury your head in the sand, pretending that crypto isn’t now down 70% and you’re half as “rich” as you were at the start of the year. But instead that you have a choice about how to handle and interpret this present that Mr. (Crypto) Market is bringing you. Maybe it even allows you to stop caring about the price, and focus on the ideas behind crypto more. I’ve found the ideas in crypto are always up and to the right. If instead the present trashes the inner walls of your consciousness, then you are handing your happiness directly to the market, one of the most mercurial beasts alive. And in my opinion, missing the more important points— our mission to decentralize data, wealth and power. Remember too, you can ignore Mr. Market. As Buffett writes, “He doesn’t mind being ignored. If his quotation is uninteresting to you today, he will be back with a new one tomorrow. Transactions are strictly at your option...Mr. Market is there to serve you, not to guide you.” There is nothing that compels you to check the market every day, or multiple times a day, or multiple times an hour. In the coming years we’ll see a new all time high beyond what January 2018 represented. For me, this is not a matter of if, but of when. But trying to predict when, or craving for when, is a recipe for suffering in crypto. So don’t get attached to the timing of the prediction, or the prediction at all :-) Meanwhile, do your best to sit in the roller coaster with equanimity. A simple article on behavioral economics/psychology and guess a bit of spirituality as well, interesting read. https://medium.com/@cburniske/handing-your-happiness-to-mr-crypto-market-d655da3927c2 Title: Re: Handing your Happiness to Mr. Crypto Market Post by: metenjean on April 02, 2018, 09:15:02 AM 1. If you're getting deeply affected by price then you're handing your happiness directly to the market, precisely linked to price. Totally agreed with this article since our happiness directly link everytime with the price, you become happy when the price rise and sad when it fall. However the solution offer was to biased, you can't just ignore the price or even telling people not to check the price multiple times a day because it serves nothing. My solution is to offer a purpose in a trading or any investment, get a plan A, plan B or even plan C. If something going out of your prediction then you can still have other solution for countermeasure rather than hoping god raise the price for you. ::) ::)2. You can decline Mr. Market's offer or ignore it, don’t have to check the price multiple times a day since he will soon come back with an entirely different offer. 3. You can stop caring about the price, and focus on the ideas behind crypto more. Title: Re: Handing your Happiness to Mr. Crypto Market Post by: Ctn on April 02, 2018, 09:34:57 AM 1. If you're getting deeply affected by price then you're handing your happiness directly to the market, precisely linked to price. 2. You can decline Mr. Market's offer or ignore it, don’t have to check the price multiple times a day since he will soon come back with an entirely different offer. 3. You can stop caring about the price, and focus on the ideas behind crypto more. Indeed the market is bitchy if we give ourself to it and in harsh words it can rip off the soul out of our life. If you have to stay on the top then you have to learn to say NO in the first place. If you are going to say yes, and if you want to say that when the situation is worst in the market then its like donating our wealth to other big investors for example, the whales. Quote 2. You can decline Mr. Market's offer or ignore it, don’t have to check the price multiple times a day since he will soon come back with an entirely different offer. Believe me that is the worst thing we can do to ourselves and kill the fun out of it by checking the prices again and again. It could drive our adrenaline crazy and we might end up in panic situation. So better to hold our bulls here. Title: Re: Handing your Happiness to Mr. Crypto Market Post by: carlisle1 on April 02, 2018, 09:47:08 AM 1. If you're getting deeply affected by price then you're handing your happiness directly to the market, precisely linked to price. Totally agreed with this article since our happiness directly link everytime with the price, you become happy when the price rise and sad when it fall. However the solution offer was to biased, you can't just ignore the price or even telling people not to check the price multiple times a day because it serves nothing. My solution is to offer a purpose in a trading or any investment, get a plan A, plan B or even plan C. If something going out of your prediction then you can still have other solution for countermeasure rather than hoping god raise the price for you. ::) ::)2. You can decline Mr. Market's offer or ignore it, don’t have to check the price multiple times a day since he will soon come back with an entirely different offer. 3. You can stop caring about the price, and focus on the ideas behind crypto more. Title: Re: Handing your Happiness to Mr. Crypto Market Post by: Bobby park on April 02, 2018, 10:02:36 AM In psychology, there is so called S-R Theory wherein the we are responding in accordance to the stimuli. According to Ivan Pavlov, Stimulus Response Theory is a concept in psychology that refers to the belief that behavior manifests as a result of the interplay between stimulus and response. In particular, the belief is that a subject is presented with a stimulus, and then responds to that stimulus, producing "behavior" (the object of psychology's study, as a field). In other words, behavior cannot exist without a stimulus of some sort, at least from this perspective.
In other words, we react depends upon the stimulus. The behavior of a hodler is depends upon how the market goes. The status of the market becomes the stimulus and we response according to the series of events. If there is a crash then we are sad and afraid for our investment and if the market is in the bullish season probably, we are happy. Reference:https://www.psychologistworld.com/behavior/stimulus-response-theory (https://www.psychologistworld.com/behavior/stimulus-response-theory) Title: Re: Handing your Happiness to Mr. Crypto Market Post by: krishnapramod on April 02, 2018, 11:23:00 AM 1. If you're getting deeply affected by price then you're handing your happiness directly to the market, precisely linked to price. Totally agreed with this article since our happiness directly link everytime with the price, you become happy when the price rise and sad when it fall. However the solution offer was to biased, you can't just ignore the price or even telling people not to check the price multiple times a day because it serves nothing. My solution is to offer a purpose in a trading or any investment, get a plan A, plan B or even plan C. If something going out of your prediction then you can still have other solution for countermeasure rather than hoping god raise the price for you. ::) ::)2. You can decline Mr. Market's offer or ignore it, don’t have to check the price multiple times a day since he will soon come back with an entirely different offer. 3. You can stop caring about the price, and focus on the ideas behind crypto more. If you're into Bitcoin/crypto for the long-haul then you can simply ignore short-term price movements. Yeah, obviously if you're a trader/speculator then checking price every other minute does make sense. I guess psychologically, if an investor is obsessed with price movements then there could be a few reasons, but one of the major reasons is fear. 1. The investor is new to crypto market, isn’t prepared to handle volatility. 2. The investor has invested more than he can afford to lose. Checking prices multiple times a day isn't an issue until it triggers an emotional reaction and one acts upon it and ends up doing something that wasn't part of the initial investment strategy. God ??? Title: Re: Handing your Happiness to Mr. Crypto Market Post by: metenjean on April 03, 2018, 08:16:23 AM 1. If you're getting deeply affected by price then you're handing your happiness directly to the market, precisely linked to price. Totally agreed with this article since our happiness directly link everytime with the price, you become happy when the price rise and sad when it fall. However the solution offer was to biased, you can't just ignore the price or even telling people not to check the price multiple times a day because it serves nothing. My solution is to offer a purpose in a trading or any investment, get a plan A, plan B or even plan C. If something going out of your prediction then you can still have other solution for countermeasure rather than hoping god raise the price for you. ::) ::)2. You can decline Mr. Market's offer or ignore it, don’t have to check the price multiple times a day since he will soon come back with an entirely different offer. 3. You can stop caring about the price, and focus on the ideas behind crypto more. If you're into Bitcoin/crypto for the long-haul then you can simply ignore short-term price movements. Yeah, obviously if you're a trader/speculator then checking price every other minute does make sense. I guess psychologically, if an investor is obsessed with price movements then there could be a few reasons, but one of the major reasons is fear. 1. The investor is new to crypto market, isn’t prepared to handle volatility. 2. The investor has invested more than he can afford to lose. Checking prices multiple times a day isn't an issue until it triggers an emotional reaction and one acts upon it and ends up doing something that wasn't part of the initial investment strategy. God ??? Title: Re: Handing your Happiness to Mr. Crypto Market Post by: avikz on April 03, 2018, 08:52:30 AM It's very true for the people in the crypto market as well as in the real-world stock market as well. It is directly linked to our emotional energy. Crypto market is more prone to such energy because we don't have regulator here who will step in to the market when the prices are falling. Rather crypto market shows the raw reflection of emotional energy. That is the reason why, we have seen a lot of non-crypto guys invested in to bitcoin during late 2017 with a hope to achieve great returns. But now they are simply staying numb because they are already in a huge loss. The ideal scenario should have been the other way around. This complex human nature is what made us better than any other living creature on earth, if not best.
But this is how it is until we find a way to remove the inner-greed from our sub-conscious mind! Title: Re: Handing your Happiness to Mr. Crypto Market Post by: amishmanish on April 03, 2018, 09:22:01 AM Frankly speaking, i find both the reactions quite aggravating. The one which consists of constant fear and constant price checking or the other one where you get so numbed by the constant fluctuations that you reach a zen'd out buddha state of 'HODL'. Simply not giving up those bags at any cost...lol..
Both of these are emotional reactions. I believe in the long term impact and potential of bitcoin fully but in the meantime, when there is no regulation, the most benefit will accrue to two groups of pretty un-emotional people: 1. The shrewd, dishonest ones who find it acceptable to manipulate people's emotions and scam them using tall promises vaporware. 2. The cold, calm trader with no emotional investment in the technology and idea but the sole intent of profit. Till the market becomes better protected from such manipulations, believers like us can only hold and wait for the change to come.. ::) Title: Re: Handing your Happiness to Mr. Crypto Market Post by: danniwide1234 on April 04, 2018, 05:06:38 AM It is natural to be emotional about the price movement in the market and so the statement, "handling your happiness to Mr Crypto Market" is largely true. Many people are definitely sad now that the price is low and they have brought at a high price already before this bearish run we are seeing. There are some that will be happy who knows that they can take advantage of this dip to buy and buy more knowing fully well that it is only a matter of time the bullish market will come again. One antidote of not allowing oneself to be controlled by this movement in prices is to only invest money you can afford to loose and not to be greedy.
Title: Re: Handing your Happiness to Mr. Crypto Market Post by: squatz1 on April 04, 2018, 05:34:46 AM While you are right, people aren't going to change their entire human nature just to be able to trade. People can't control it, their emotions are going to get the best of them because they're losing money -- it's like if you lose money gambling, or on the lotto, and so on and so forth.
Can't change this, you can only educate people on how to work within their emotions. Title: Re: Handing your Happiness to Mr. Crypto Market Post by: timerland on April 04, 2018, 10:53:16 AM You know that if emotions are getting in the way of your decision making, then you're not making the right decision.
I'm specifically referring to long term holders here. Traders are a completely different story since they capitalize on short term price movements. But holders are in it for the long term. Checking the price is no issue, as OP said. But if it starts bothering you as soon as bitcoin drops by one percentage point, then you definitely have got a problem. Sometimes you're focusing on peanuts, only when you zoom out, you'll see the big picture. Like in this crash, I see a lot of people panic dumping who will most likely buy back at a higher level when the bull market starts happening. Unless you are accumulating at such low prices, hold your coin. Same goes with in a bull market, don't buy just because your emotions tell you to. Sell when you've made a decent profit. Title: Re: Handing your Happiness to Mr. Crypto Market Post by: Harrow30 on April 04, 2018, 11:24:59 AM I am only expectant of something positive from Mr Crypto market. I haven't really invested my cash so as not to get unnecessarily worried or unhappy. For now, I don't keep my hope so high so as not to get it dashed on the ground. I do however, expect an improvement from the second part of this year.
Title: Re: Handing your Happiness to Mr. Crypto Market Post by: el kaka22 on April 05, 2018, 08:12:52 AM It's very true for the people in the crypto market as well as in the real-world stock market as well. It is directly linked to our emotional energy. Crypto market is more prone to such energy because we don't have regulator here who will step in to the market when the prices are falling. Rather crypto market shows the raw reflection of emotional energy. That is the reason why, we have seen a lot of non-crypto guys invested in to bitcoin during late 2017 with a hope to achieve great returns. But now they are simply staying numb because they are already in a huge loss. The ideal scenario should have been the other way around. This complex human nature is what made us better than any other living creature on earth, if not best. Before investing, one should even always have a strategy as an investor, but it is just the way things are as so many people did not invest because they understand the value of their holding, but because they heard some holders back when it all began have gotten strikingly rich and they also do not want to miss out.But this is how it is until we find a way to remove the inner-greed from our sub-conscious mind! One thing they have forgotten is that those who invested earlier understood what they invested in and through thick and thin, they still believed in the long term of it which is what makes them different from those who are suffering from FOMOlysis. Title: Re: Handing your Happiness to Mr. Crypto Market Post by: beerlover on April 05, 2018, 04:15:02 PM 1. If you're getting deeply affected by price then you're handing your happiness directly to the market, precisely linked to price. Totally agreed with this article since our happiness directly link everytime with the price, you become happy when the price rise and sad when it fall. However the solution offer was to biased, you can't just ignore the price or even telling people not to check the price multiple times a day because it serves nothing. My solution is to offer a purpose in a trading or any investment, get a plan A, plan B or even plan C. If something going out of your prediction then you can still have other solution for countermeasure rather than hoping god raise the price for you. ::) ::)2. You can decline Mr. Market's offer or ignore it, don’t have to check the price multiple times a day since he will soon come back with an entirely different offer. 3. You can stop caring about the price, and focus on the ideas behind crypto more. It is really amusing when I see people panic for no reason because of a downtrend in the market. I always believe one thing; if you cannot live with it, then do not even join in the first place. One thing for sure is that a market will never stay on a single trend forever, and depending on where you invested, you just have to wait for your time to get the best of it, and understand all that is needed even before investing. Title: Re: Handing your Happiness to Mr. Crypto Market Post by: Finestream on April 05, 2018, 05:00:57 PM You know that if emotions are getting in the way of your decision making, then you're not making the right decision. This is most likely what happening now,selling all the coins before it gets lower price than today.If we cannot overcome the fear in us,being emotionally stressed particularly in this dump days,then we will not be successful in making good profits in this crypto market.We should learn to be patient at least and sell our coins when we see the price has already recovered.I'm specifically referring to long term holders here. Traders are a completely different story since they capitalize on short term price movements. But holders are in it for the long term. Checking the price is no issue, as OP said. But if it starts bothering you as soon as bitcoin drops by one percentage point, then you definitely have got a problem. Sometimes you're focusing on peanuts, only when you zoom out, you'll see the big picture. Like in this crash, I see a lot of people panic dumping who will most likely buy back at a higher level when the bull market starts happening. Unless you are accumulating at such low prices, hold your coin. Same goes with in a bull market, don't buy just because your emotions tell you to. Sell when you've made a decent profit. Title: Re: Handing your Happiness to Mr. Crypto Market Post by: eaglewhite80 on April 05, 2018, 05:33:25 PM Hmm! Very nice article to read and I hope some of the new and inexperienced investors are reading this now. I guess the problem most of them have today is just ignorance, since all they do is to want to get rich quick, without analyzing and understanding what they are getting into, then they tend to get emotional easily to everything.
There is a huge potential in every market but everything cannot always be rosy and being able to understand all these without letting it affect you emotionally in the decisions you make is all that is important as an investor. Title: Re: Handing your Happiness to Mr. Crypto Market Post by: dothebeats on April 05, 2018, 06:34:25 PM A nice way to look at it and also the better way on looking at how you handle things. Mr. Market often comes with a shocker that you don't like, which may trigger you to have some decisions based solely on your emotions without thinking straight. In this way, you are becoming anxious as to what would Mr. Market would offer the next day whether you lose or not. This also goes when you're shopping at the mall with store attendants trying to make an offer about what you 'might' like. I learned that seeing what their offer is and ignoring afterwards give me the best deal I can get for a single item that I wanted, and in a cryptotrader's case, this also works best too, if people actually have the patience to do so.
Title: Re: Handing your Happiness to Mr. Crypto Market Post by: okala on April 05, 2018, 06:40:06 PM The current happening and the bullish market is actually very hard to be happy and remain optimistic that bitcoin and other crypto currencies are going to recover. It take the mind of a wise investor for one to remain relevant. Bitcoin has done well in the past and now give us another opportunity for us to buy more for the good days ahead.
Title: Re: Handing your Happiness to Mr. Crypto Market Post by: Hydrogen on April 05, 2018, 11:15:38 PM Its easy to become attached to the concept of bitcoin being a bouncing ball that will *bounce* back like a ball making contact with pavement everytime the price falls by a significant margin. Bitcoin has by far won more than it has lost over the last 18 months. Its easy to perceive that inertia as representing the largest slice of momentum and to assume btc will *bounce back* as it has in the past whenever we worried over price declines.
I think by now most of us have searched for methods of diversification. Plan B in case our crypto plan A fails. There are many avenues for crypto diversification. Purchasing gold, silver, precious metals, jewels, diamonds. In more desperate cases: purchasing electronic goods like big screen TVs, gaming consoles and other devices which are more easily accessible and expected to retain good value over the short term. Real estate and vehicles like cars or trucks with decent bluebook resell values might be utilized. Then there are options which might carry the utility of being able to start a business. Purchasing lawn mowers to start a lawn moving business, seeds to grow crops which might be sold at farmer's market, maybe a guitar or musical instrument to produce music clips on youtube in an effort to earn income. People may only be limited by their imaginations here. Hopefully, bitcoin will bounce back rather than experience a *dead cat* bounce where the price doesn't make any comeback at all. I think we should have a good indication of which it'll be by the end of 2018 with bitcoin usually experiencing a seasonal peak at year's end. Title: Re: Handing your Happiness to Mr. Crypto Market Post by: DiabolicAnt on April 05, 2018, 11:20:46 PM My opinion is that we should wait until market restore but not handle any emotions there - that's a very bad way and it may affect you mentality.
Title: Re: Handing your Happiness to Mr. Crypto Market Post by: StevenPop on April 06, 2018, 08:01:58 AM The market is quite hard to look at right now which is why a lot of people are panic selling because they get scared when they look at the charts and see the market prices. We should never let emotions dictate our decisions when it comes to investments.
Title: Re: Handing your Happiness to Mr. Crypto Market Post by: buwaytress on April 06, 2018, 08:29:00 AM Easier said than done, but such is the case when psychology and emotion are involved. I'm actually pretty sure that even the bears aren't happy of the market just keeps crashing. They can only profit from shorting for as long as there are high prices for them to enter into.
Of course, in the world of percentages, Bitcoin dropping from 7k to 6,300 is just the same as from 10k to 9k... But the volatility is preferable at higher prices that attract more volume. Am a holder that sells as I need, feeling a wee bit sad these days being forced to sell more coins for the same bills and expenses. But then again, am earning more coins as so I guess my gratification comes later. Pavlov's dogs, now, are we? Title: Re: Handing your Happiness to Mr. Crypto Market Post by: bettercrypto on April 06, 2018, 08:29:41 AM Why do we need to handle our emotions?
A simple mistake will result to a totally dispair. If we make a move based on our emotion, there is a possibility that we will fail. God made our head in top of our heart because we need to use our mind rather than our feelings. Trading is just like in a relationship, why? Sometimes, we forget the value of our love ones because we know that they are always still their. We feel that they will not leave us alone but we never think that it might be possible to happen. We used our emotions, not our own understanding. When we trade a new coin, we always think to hold when there is a bull run starts. We are complacent that the price won't draw back. But when there is an instant crash, we regret that we hold our coins. Why do we need to handle our emotions? Because emotion drive us when we are fear, sad, happy, guilt and excited. We react based on our emotion. Sometimes, we forget to think hundred times what we have done! Title: Re: Handing your Happiness to Mr. Crypto Market Post by: stompix on April 06, 2018, 12:00:23 PM Frankly speaking, i find both the reactions quite aggravating. The one which consists of constant fear and constant price checking or the other one where you get so numbed by the constant fluctuations that you reach a zen'd out buddha state of 'HODL'. Simply not giving up those bags at any cost...lol.. As some said, if you're not cut for the job don't try to do it. I've quit trading and to be honest is probably the best decision I've made. It started with having less and less time, and it was affecting the time spent with the family but when I look back probably the damage was worse. I sleep a thousands times better, alarm noises are not making me jump out of the bed, and probably if it weren't for the forum I would go for a few days without knowing the price. But going totally "zen" and acting like a squirrel burring nuts for winter is also quite stretch also becoming a zealot that ignores everything and all he can hear are bull runs going by like Pamplona festival. Bottom line, don't try things that you can't handle and don't try to change yourself for this. I don't think it is worth it. Pavlov's dogs, now, are we? Why can't I dismiss this with ease? I suddenly want to stop talking and even thinking about :P Title: Re: Handing your Happiness to Mr. Crypto Market Post by: Kiweikoo on April 07, 2018, 08:27:01 AM My opinion is that we should wait until market restore but not handle any emotions there - that's a very bad way and it may affect you mentality. It is the hardest thing that one is supposed to do in life i.e. controlling emotions and using them the way you want. Though we know that they are just visitors for some time and are going to depart zoom but still their influence is so strong that majority of the people get badly affected by them. You need to make a serious effort in order to get good command over your furious emotions. Do yoga maximum. Title: Re: Handing your Happiness to Mr. Crypto Market Post by: wuvdoll on April 09, 2018, 05:26:22 AM 1. If you're getting deeply affected by price then you're handing your happiness directly to the market, precisely linked to price. 2. You can decline Mr. Market's offer or ignore it, don’t have to check the price multiple times a day since he will soon come back with an entirely different offer. 3. You can stop caring about the price, and focus on the ideas behind crypto more. Indeed the market is bitchy if we give ourself to it and in harsh words it can rip off the soul out of our life. If you have to stay on the top then you have to learn to say NO in the first place. If you are going to say yes, and if you want to say that when the situation is worst in the market then its like donating our wealth to other big investors for example, the whales. Honestly I do not check bitcoin prices multiple times per day but at least once per day. This may be due to I am still using freebitco.in faucets and from the rewards I do guess bitcoin prices every hour. Probably I am falling into the category of 1 as I am still bothering bitcoin prices deeply but in indirect method. Title: Re: Handing your Happiness to Mr. Crypto Market Post by: jakagintiri on April 09, 2018, 05:39:19 AM Do not underestimate the emotional level of a person, we do not know beyond the lives of many individuals that they have a lot of pressure by investing in bitcoin, so that every time bitcoin decreases everyone gets material pressure, not only harms his money but with everything he sacrifices to invest in bitcoin.
Title: Re: Handing your Happiness to Mr. Crypto Market Post by: dunfida on April 09, 2018, 05:48:58 AM Do not underestimate the emotional level of a person, we do not know beyond the lives of many individuals that they have a lot of pressure by investing in bitcoin, so that every time bitcoin decreases everyone gets material pressure, not only harms his money but with everything he sacrifices to invest in bitcoin. You are right into your point which is actually been part of the reality on where every person do have hardships in life which will mainly affect there emotional aspects even though not on investing side but it will surely correlate or do connect once he saw on whats happening into his own investment.Either he would react too much and people do see that he doesnt have any control,No matter on what would be the reason behind its his own decision.Title: Re: Handing your Happiness to Mr. Crypto Market Post by: Jonsnowstark on April 09, 2018, 05:52:52 AM Oh well we cannot really stop ourselves from checking the price every now and then. We put money in so we need to make sure where our money is heading. Is it up or is it down, on what basis do we say up or down? We always look at from when we put our money in. The margin of increase or decrease is always based on the initial investment.
Title: Re: Handing your Happiness to Mr. Crypto Market Post by: Jlimao28 on April 09, 2018, 05:55:46 AM Do not underestimate the emotional level of a person, we do not know beyond the lives of many individuals that they have a lot of pressure by investing in bitcoin, so that every time bitcoin decreases everyone gets material pressure, not only harms his money but with everything he sacrifices to invest in bitcoin. In the first place, people knows that cryptocurrency is risky. There is only a 50% chance to gain profits here and I know all of us expected it. We can't deny that all of us here wanted to earn in cryptocurrency and I think one of the factor that drives the emotion of individual is fear of lossing the capital.I know we should not underestimate the emotional level of the people specially if they lost a lot in trading. But we can't do about it, cryptocurrency is made to gain or lose profits. And it is a fact that our emotion affects on how we encounter the problem and excitement in crypto. Title: Re: Handing your Happiness to Mr. Crypto Market Post by: gharjas2517 on April 09, 2018, 06:08:50 AM Indeed, we should be a mature investor, not every day to change the price of the market, in the encrypted world, is not suitable for short-term trading. Short term trading usually makes people anxious. Let's make a long-term trader's happy trader.
Title: Re: Handing your Happiness to Mr. Crypto Market Post by: btc78 on April 09, 2018, 06:23:04 AM You know that if emotions are getting in the way of your decision making, then you're not making the right decision. This is most likely what happening now,selling all the coins before it gets lower price than today.If we cannot overcome the fear in us,being emotionally stressed particularly in this dump days,then we will not be successful in making good profits in this crypto market.We should learn to be patient at least and sell our coins when we see the price has already recovered.I'm specifically referring to long term holders here. Traders are a completely different story since they capitalize on short term price movements. But holders are in it for the long term. Checking the price is no issue, as OP said. But if it starts bothering you as soon as bitcoin drops by one percentage point, then you definitely have got a problem. Sometimes you're focusing on peanuts, only when you zoom out, you'll see the big picture. Like in this crash, I see a lot of people panic dumping who will most likely buy back at a higher level when the bull market starts happening. Unless you are accumulating at such low prices, hold your coin. Same goes with in a bull market, don't buy just because your emotions tell you to. Sell when you've made a decent profit. Title: Re: Handing your Happiness to Mr. Crypto Market Post by: magneto on April 09, 2018, 08:57:37 PM In my opinion, the next bull market is imminent. It's just a matter of time. It could be months from now, it could be years, hell, even an entire decade until bitcoin experiences a pump as big as 2017's pump. But as long as you are patient, and believe in bitcoin's technology and economic implications, you will make a profit by holding.
If your investment in bitcoin is seriously hindered by the fact that you're putting in emotion your trading, then I think it usually means that either you are extremely impatient or you have made an emotional choice of buying in the first place, probably due to FOMO. This is honestly the worst you can do. I think it should be said that bitcoin shouldn't be your sole investment. Have a well diversified back up plan such as gold, silver, shares or even collectibles in case crypto does not recover when you think it will. In that case you won't be forced to sell any portion of your crypto portfolio just because you need the money, or you're tempted to sell because your entire saving is in BTC and you're emotionally wanting to cut losses. Holding for the long term is the strategy that'll work best in this bear market, imo. Title: Re: Handing your Happiness to Mr. Crypto Market Post by: Hazaki on April 09, 2018, 09:17:21 PM In such industry being happy or not solely depend on when did you invest and what did the money that you invested represent at the time of the investment . One of the few rules that any investor should respect is to invest money that ain't necessary and that he'd be okay with loosing it yet so many people ignore that and throw what they have on cryptos without even making a proper analysis of the market and approximately knowing whether they'll generate profit or not .
I bought bitcoin when it was at 1k and i'm still happy despite all the ups and downs it went in , people that bought it when it was at it's all time high with a solid 20k per coin are nearly going into depression whenever they check the charts .. Timing did save me and will continue to , so people please choose carefully your entry point/date/coin/budget , because you'll find yourself having mini heart attacks all the time if you throw your money like a lot of people sadly did .. Title: Re: Handing your Happiness to Mr. Crypto Market Post by: jhean_arcane on April 09, 2018, 09:21:07 PM Never ever ever base your happiness in the crypto market because it is a bitch. It will make you happy later then will break your heart a minute after. This market is too volatile. If you become emotional in handling your coins, you will lose a lot of money. Base your happiness outside the context of money and cryptos and you will be okay.
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