Bitcoin Forum

Hey community, I am writing this stuff just to make everybody calm and get their stuff together!

I am very shocked after seeing the forum full of stress in terms of Trading the bitcoin or other altcoins. When the crypto went down by 25% or more (some alts 50%+) everyone seems to be in pain and are confused right now.

The reason:

1. Many of you lost huge investment
2. Some of them were just entering into the crypto when it was ATH
3. Most of them were doing the regular day trading stuff and lost it all in blink of an eye.
4. Everyone is suffering in the COVID situation and are looking for way out to earn some extra stash here.
5. No-one knows the real reason behind the enormous drop!

Yes, yes, I get that rage of loosing money. I have myself lost more than 50% fiat in the process of trading DOGE, TRX, and little portion of BTC that I earned from the odd jobs after ripping of myself day and night.

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Lets Get it Together:

Please understand that the price drop is not planned strategy of whales or rich peoples around the globe. Even the richest did not see this one coming on their way.
The main reason behind the drop are as follows:

1. China mine coal explosion
2. Total blackout of electricity affecting the Bitcoin Mining Operations
3. Drop in Hashrate as much as 24% thus mega effect on blockchain confirmation
4. Most of the transactions are stuck on the blockchain and thus the movement of money has stopped (progressively).

The NETT effect is simple, chaos in between traders, dropped confirmation tending to dropped transactions thus creating the lesser volume over the period.
This made the crypto to go down or basically run with less power than its original one. (layman language)

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STOP PANIC:

For these valid reasons we must not be feared of the current situation and just enjoy the dips that we are getting. If you are capable of invetsing more money then this is the time you should do.

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OPPORTUNITY

I recall all those people who used to create the threads " I wish the price of BTC was lower than this", " I wish the price will drop soon so that I can buy more".

Now this is your turn where you should invest your money. If it raises one more time then please don't create the chaotic threads regarding the cheap BTC prices opportunity. You have it, you should grab it..

Can't blame them fully but they have a part for their failure, they panicked and I believed that every price drop is a test of faith that bitcoin has to filter out the real investors that deserve the big profit. I believe what @so98nn says, it is a opportunity to buy some bitcoin since the prices are lower.

We're still in a rough situation and lots of cryptocurrency that exist in the market does a big nosedive. It would not be surprising that a lot of members are experiencing panic attack and much worse having suicidal thoughts as I am writing this. It's really difficult but the most important thing we need to remember that even if we've lost a large amount of money in trading and in investing, our mental health is of the utmost important at the moment.

You may refer to these suicidal hotlines and you can dial them based on which country you currently reside .
[1] https://en.wikipedia.org/wiki/List_of_suicide_crisis_lines

for the fact it was sudden made people to panic especially those that its new to and there wasnt a concrete reason for the drop. its one the things that you have deal with, dip is an opportunity to fill your bags but people dont use it well. people only buy when its pumping thats why they panic most times after a little drop. we are still amidst the bull run but people need to watch carefully.

I have been in crypto market for 4 years as a trader and I have some experience of losses, earnings and a developed system. I can say, that it is impossible to get away from emotions completely. But you can achieve a comfortable value at which you will sleep peacefully - this is % from your risk. If you put a small risk in 1 trade, you always have the right to make a mistake. In the long run, you will win.

I left trading for a while, I just resumed and bought coin at ath instead of buying at dip, last week the market was going smoothly with my thinking that the price of trx will continue to pump I bought and within 24hrs on Sunday it dumped, I've been regretting all through... So what I did now was to leave the coin till whenever it decides to increase in value then I sell. I wasn't affected a lot because it wasn't my last money.

This is not the first time we are experiencing some dip in Bitcoin price, moreover, I'm sure in the future something awful must surely happen to reduce down crypto prices again, we are just living in a world where something is not stable, who knew covid19 pandemic could cause price dip to $3k

As you have said, this is the opportunity for traders to acquire more bitcoin and other cryptocurrencies into their portfolio. Every complain about not buying dip will be unanswered.

In the first place, trading is totally stressful. Yeah, you can't just think that this job gives you an easy life because it was different in real life. Panic selling, being in FOMO, common things to happens.

And for those who can't afford to manage themselves out from this, it mentally affects their minds and could bother them too much. And that is why they could hardly control their emotions and mostly push them to make any stupid and bad decisions. It is a worse case to happen and yeah, we can't simply ignore that.

When the markets reach new ATH, the boiling heart always promptly remind us to buy buy and buy. So instead of being patient and wait for a good price, we tend to blindly invest in a crypto which is overvalue. And when there is a sudden drop, people do not want to have a huge loss, their emotion once again remind them to sell everything at a very low price

Buy low and sell high. do not panic.

Thanks OP for the reminders. We need more reminders like this to notice people not to be too careless when the markets are sizzling

Experienced traders who knows their onions  always makes profits irrespective of the state of the crypto market whether bullish or bearish there are signals for longing or shorting, I believed investing in cryptocurrencies can be profitable as well as leads to massive losses, however a lot of newbies believe that the prices of cryptocurrencies will continue to be bullish and makes mistakes of buying at the peak or ATH any pullback or correction often result to losses.

Am not a passive trader, by the way. But the recent drop in the price of Bitcoin and altcoins was not a planned event but a market reality. This correction is expected because the price can not keep moving in one direction after every price increase there must be a correction point. Some will lose while others will gain that is trading.

sometimes being a trader you have to experience difficult situations like now that you feel this way. when the market is down you get a loss, but as you wrote, when it is down you can get a bigger chance of making a big profit by buying at a low price. so I think this is a golden opportunity for you to return your profit

I am happy with such declines because it is an indication that the season of gains is still in its infancy and we may see levels higher than $ 70,000 in the medium term.

The same thing happened in the year 2017 when the price returned to the level of 3000 dollars when it was at the level of 6000 dollars.
Corrections below 50% are healthy and useful for confirming levels of psychological barriers.

you should control your emotions or you will add more losses to your account.

^^ My question is why would people still invest too much to the extent that they get so worried with the slightest shake in the market? Is it that those people are not aware of the fact that what they are buying is a volatile asset, and they are just investing in it? That’s very risky.

Anyway, it is not like it is a life sentence, the market goes down all the time and still climbs back up, it is all with time and it gets on going again. This morning I have already noticed that bitcoin has moved from $49,000 to $50,000 again, I am not sure if it’s going to last at that price, but let’s keep watching and see where it lands by the end of today and whether we are going to move above that.

Always remember that the holders will be the winners, those who panic and sell think the price will continue to fall, it is an emotional one that must be trained not to be easily contaminated by problems related to the crypto market crash.
in fact we are used to seeing price drops, because that is the natural pattern of crypto price volatility, it's just that there are still a lot of thoughts that need to be straightened out around the problem of falling prices.

and today the price has started to recover again, thank you for your advice so that we traders remain calm. I really appreciate your thoughts.

Easy to say but actually the hardest thing that you could able to resist where even veterans or old traders or investors do still able to feel these things out
even if they do have the experience and been here on this market for years.We are just humans and emotion is just really a factor that cant really be
removed out easily.You do know that you had invested money and its just normal that we would really feel out some sort of panic inside.

If you are an investor then you would really be thinking up on this way.You do see these drops as an opportunity for you to buy more and able to enter
on cheaper prices.

Its up to your own stash if you had already prepared or anticipating for such drop and able to get in since you are financially capable or you
been expecting for this to happen.

True

Stop the Panic

In fact we must be happy for the discount sale going on for bitcoin and other cryptocurrencies.
Let's go shopping and buy some nice cryptocurrencies listed at a discounted price. I would be buying some Ether and Solana in this dip.
I wish they could a little more low to get in at a good price. These coins have good potential and I believe they will definitely go 5x times very soon.

For those who bought at the ATH. Don't worry. It's just a matter of time when bitcoin recovers the price it will set up straight to another ATH and you will be reaping profits.

They'll never think about the risk during their entry but instead, they usually think that Bitcoin will continue to grow as what they heard and give them the profit. The ignorance makes them suffer big losses and then says Bitcoin is a scam.

We are still riding like a roller coaster, it dumps today but it is possible that it pumps by tomorrow. But in some other way also that it continue to drop due to people are in panic selling and they are pushing to dump until they're all done.

It's just unfortunate how a lot of traders on and off the forum are so eager for cheap prices that they can buy only to get scared to place buy orders or open long positions when an opportunity to get altcoins at cheap prices presents itself. The thing I found out is that you won't make money in a fast moving market like this crypto market if dip opportunities like this are allowed to go by. Even Bitcoin touched 47K but it has quickly recovered like 8% and headed back to 50K. This is temporary. Next move is 70k.

That is why we should learn about proper risk management. Some traders went all-in and got liquidated from the previous rally because they think cryptos will continue to increase until May because of alt season. They didn't realized that a correction will happen anytime because of that continuous rally. This is a lesson to learn for those who are new to cryptocurrencies, set your stop loss and don't over leverage when you trade in futures. For spot don't go all-in when buying the dips because no one knows where would be the bottom. Right now is a good time to buy especially altcoins because some of them are -50% from their previous ATH. If whales are done accumulating then a rally again will happen soon.

Hey that's part of trading I suppose. I myself didn't actually realize that the price went down by quite a lot these past few days since I've been ignoring it when it started going down just so that I'd stop panicking and whatnot. Peeked at it today and I was like, hmm okay. Glad I set up some stop loss before I stopped looking though.  Dips should be considered an opportunity instead of a loss. Take it like this, you lost money due to the dip? Hey at least you're gonna earn more because of it no? And if it goes back, you'd recoup the losses you made early on, win-win. Just, don't get too optimistic, that ruins your life, same with being too pessimistic.

I read about other possible reasons for recent dump of bitcoin markets but you are mentioning about only one. How this current market dump is a common one, I'm seeing the panic among investors is also a common one because for some reason market is having some correction which is usually triggering panic among traders and investors that again will result in more correction; this is what exactly happened and no one could do anything about that. Because, I am seeing people are always emphasizing about making use of dips in bitcoin markets but I'm not seeing that is actually happening.

Mixing your emotions while you are up into doing trading will probably make things mess up for you are not into focus of what you supposed to do making you unable to think of ways possible to strategize the actions you will do that will suit the current situation you were up to because panic and fear are residing within you that makes your emotions pumps up mixing how you are dealing with the trading pressure you have on hand. Remain calm and assess the situation because panic will not help you out in the situation for it will just make things worst for you. Compose yourself on trading and do not let your focus loose upon you.

No chat graph goes just in one direction. While we expect bullish trends we should also expect bearish trends because price of commodities are been affected by diverse factors mostly news irrespective of it's contents be it good or bad.

To limit panic whenever you experience a depreciation in price a proper understanding of supply and demand should be studied. As an investor you should take advantage of any situation and make good profit out of it not just getting worried over price drop which might result in wrong decisions.

Obviously, not all traders believed that the bitcoin correction was over, so they expected a further decline. Other traders start buying coins when they see confirmation that the market has turned around again for growth. Sometimes it is easier to buy coins at a price slightly higher than the minimum, but have more confidence that after the purchase, the price of the coin will rise, not fall.

Yes, different people are trading based on their different strategies and technical analysis so some people are waiting for more corrections to happen and some people are already into buying and holding right now for new ATH to happen. I believe all of them might turn accurate over the time but there will be no surprises for those people who are waiting may need to wait infinitely as per current trend of bitcoin markets.

We may buy or sell bitcoin right now but that should be based on technical things and not just because of what we are observing with bare eyes. Because, when we are making decisions without the help of technical analysis then that will be influenced by our emotions at most of the times which definitely lead to losses as market volatility is not happening as per our emotions.

This is well said from you. The only thing is that it is easier said than done. Managing our emotions during trades isn't an easy feat to achieve. You either feel to afraid to buy become too fearful that panic selling end up becoming the only viable option that you see fit to chose. That is why it uz unless a trader take time to master their emotions, they would not be able to manage their trades properly as things would end up getting messed up.

Yes, emotion control will become possible over the years of practice and that is the reason, many traders are getting failed even they are good at technical analysis.

We must take time to analyze about our emotion control before touching real crypto markets because most traders are getting into trading directly after developing skills on technical analysis but failing to evaluate their own control on emotions. Hence making things messed up is the only final consequences.

With all of those unexpected dumps, there is always a choice of holding still.  Trading isnt that easy, sideways are always happening. If you are too emotional it will just messed up your trades and your original plan will gonna destroy your trading plan.

 There are also times that you are panicking because your money is at risk when market fails to follow your way, but with some patience and with having a back up plan like stop loss to minimize your loss, it is always better to have a plan B.

don't use feelings when trading. we just adhere to the framework that has been created. for what kind of results, I think it has become the power of God. indeed to be able to do so we are required to learn continuously

If you don't know how to control your emotions then probably trading isn't for you, in my opinion, we can utilize our sudden outbursts as an indicator if we want to trade that day, now if you are already feeling kind of angry or something then you should probably don't trade that day because it may amplify your seething emotion which will result in bigger losses. Take Yoga classes and other meditation classes to master calmness.

I agree with you, simply there are good days when everything is going smoothly, and there are days when nothing is working how we want it! It's like that because of the reasons you already mentioned, unexpected dumps, price going sideways (usually opposite from the way you want it)... Probably the only way to avoid this is to stand up from the computer and do something else for a while, and to come back later and try your thing!
It's hard to keep control of your emotions all the time, so I guess taking breaks is the best way to fight against those bad periods! To clear your head, and to rethink your strategies... maybe to find a different approach!

Most experienced traders always have good adjustment each time that the market unfavored their position.

Stop loss if you understand this feature will help you to minimize your loss and have a  better chance of

recovering in a much quicker way, though it's not as easy as it is  but bringing your full interest to this business

allows you to understand every specific factors that affects this market.

That is because we are not having any specialized tool to evaluate our emotions and its controlling capability. Only thing we can do is just practicing emotion control along with while developing technical skills. But, people mostly focus on developing technical skills and leaving off gaining control over their emotions.

Yeah, taking breaks in between trades is highly recommended but traders out of pressures they do forget it getting tied themselves into their computers.

Your level of dedication definitely leads to your level of success with crypto trading. People who are failing to dedicate their time and efforts always leaving off crypto trading over the time with losses. When you are not ready to dedicate yourself for learning and practicing for crypto trading then never think about becoming a crypto trader.

For me when it comes trading you must have a patience, good mindset and you know how to control your emotions in every situation in the market because you will end up losing profits if dont have such things while trading wherein panicking will be the results after all.. So always bear in mind to use that 3 words and be smart enough because that's the only key to success.. As the matter of fact some of here thinking its like after putting money they can get a massive profits which is not true, and always going crazy when they face some problems.. Remember as well that being knowledgeable is a big advantage.!

Damn right.
Some got lucky in this situation and pressed the withdrawal button. Not me.  ;D
I was also hit by the bad wave but when you are in crypto trading for a long time it's a normal event to happen.
It dips hard and it also pumps hard when no one expects it. Some will save themselves from losing more and some will resist it and just wait.
My condolences to the money of those who just started. I bet they are now hurting so bad and cannot wait for another pump to happen.
It will. Just don't forget to wear your seatbelts until the time comes. There's always a light at the end of the tunnel.

Exactly. It is hard to trade with no good strategies and techniques, it is very risky to trade with no knowledge and vasic information about trading, basic trader use buy low and sell high and they are not efficient intrading and sometimes losses their capital .

Any trading pointers, tips, suggestions, advice, etc. won't be understood by others if they didn't experience yet being in the worst situation. Even trading newbies are aware of those prior to doing any actual trade, they can't avoid that situation.

Let their emotions dominate them during that period. Let them feel the experience of being a loser. That's the challenge there, how to overcome those losses and continue. That's also the best time to question themselves if they really want to continue trading or not.

Most of the community here in the forum got panic and stress only if they are not fully matured in crypto space in my own
opinion only. However, we need to strong in a way of being more patience while we wait on the spike of the price value of the
coin we hold it now.

This is all about TRUST, and you can expect people to have that if in the first place that doubts has been always in their mind. And that is not to wonder why they easily get into panic every time they saw declines. We can't blame the market for our failure but instead, blame ourselves because that is the truth.

If we can correct ourselves and change our mindset, not possible to achieve what we aim for. It only needs to be more positive and never allow our emotions to drive us. Just keep trying as it is really hard to do it.

It is important to think positively to return an extended thanks to success. As a businessman you easily reach your goals if you think that about everything during a positive way with diligence and your talent you become a successful person you get leverage to grow your business faster businesses must learn to regulate their emotions. Failure can't be blamed success is impossible without risk if you actually want to maneuver forward you want to take risks facing the risks with self confidence business must succeed.

Those who are panic didn't prepared to loss their money, they just want to create profit without experiencing the dump.
If you guys see the trend of the market, you can get more profit than usual. If you didn't sell out of panic on the last dump, you can have profit now since the market is getting better again. I bought ETH last week when the price is still down, now ETH made its new all time high and because of that I made profit. Being too emotional is not good in trading, practice to be more patience and good things will start to happen with your tradings.

Panicking had been the major problem of newbies because most of them rushed into cryptocurrency with a mindset of becoming rich overnight not minding and preparing for any loss, for every correction or pullback in the price they quickly sell off their portfolio, I have been in this forum since 2017 this issue of panic selling had been discussed on several occasions on how hodlers should control their emotion in case of any dump recall the massive dump in the wake of first wave of covid-19 last year the price of BTC felled and dumped massively however some hodlers controlled their emotion and hodl the end result now was huge and massive profits.

It's not just newbies that suffer from this because with the volatility of the market, there will always be uncertainty. I hope that the quick rich mindset is going to be forgotten by these newbies because it is a poison that makes them stupid and fidgety when involving themselves in crypto. My way of relieving my panic when something happens is that I think that this situation is going to get better soon and I just concentrate on that thought and it helps relieve little by little.

Trying to be quick rich kind of mindset definitely ruin ourselves in trading because that is the core reason why I traders are becoming greedy and keep modifying their target level. Whenever we are not following our technical things but listening to their emotions then that will definitely lead to losses. Only when you are not giving any room to our emotions which can be panic or greediness or aggressiveness then we can make easy profits of the crypto market even in high volatility conditions.

Self control will lead us to consistent profits and I agree that controlling ourselves in terms or emotions is not possible when we are newbie in trading.

Well for me we need to understand their decision because maybe they gained enough during the bull trend and they don't want to risk it again which  incase the market plunges back,  And those corrections that we experienced previously after the good pump is probably the reason why they sell off immediately because of doubts that what if it will become worse again and can cause losses.. I've been there on that kind of situation so it's not trustworthy any more when you have enough profits..   ;D

Consistent profit is something, every trader is always dreaming about. Because, even I am into trading for years, I could not manage my emotions effectively. Market conditions are too powerful to deceive any trader regardless of their level of knowledge and level of experiences. So, always trading within safer limits will help anyone to make some profits rather than aiming for bigger things. I was targeting consistent profits before but later I have changed my mind as even profits are better than finishing a day in losses.

It is absolutely different deciding when you are in hard times. It is really to control our emotion no matter how tried to do it and most especially when you saw the price is dropping, it sometimes creates panic. I can't deny this because I also have bad days in trading and even sometimes think about quitting. Now I see that we can't find assurance in trading, no matter how good you are, even you call yourselves an expert in this but losing is certainly can never be avoided.

Anyone wants to get rich. Anyone wants to be like Musk. :D
The quick rich mindset is gonna be hard to manage for a lot of people because the volatility of the market itself already tells the story.
The expectations goes to the moon before the price.

Yeah, our expectations should be based on technical analysis and not an emotions driven. In my experiences, emotional outburst are happening when we are not good at technical analysis like when we do not have proper signal to enter/exit then people start listening to emotions which makes them going greedy to alter the target levels or getting into enter before confirmed entry point will be available.

Just following what technical things are telling would be the only way, we can avoid sad endings of crypto trading. I am just holding for long duration which is also seeming get affected by emotions but I somehow managed not to go by emotions which helped me not to have any big regrets.

As much it is really hard to control emotions when trading, it is of paramount importance that we bring our emotions under control when trading.
No trader whatsoever can boast of having trading career with no losses. That's totally impossible, the aim however is to keep these losses to the barest minimum which is not possible if you allow your emotions to control you.
It is noteworthy to know that, many times, a lot of folks have lost so much because of fear of losing all only for the market to turn bullish again and regret then sets in

You can easily prevent that ruin when you are trading, just be patient and always remember that good things comes to those who wait. I might sound arrogant but take me as an example, I don't daytrade but I accumulate bitcoin whenever I can, and I have been hodling my bitcoin when it was still around 20k USD and my friends tempt me into selling around 30k USD but I carried on and waited and I sold around 50k USD and I am more happy because I got bigger profits compared if I sold together with my friend.

I am sorry to say that you and your friend may start regretting very real soon if you do not buy back at current levels or if you get chances to buy below $50k (99% there could be no chances for BTC to fall below $50k forever), because, there are chances for bitcoin prices to go beyond $100 in coming months and the final ATH for the current bull cycle might be around $280k levels.

You were good that you did not sell around $30k but what led to you sell around $50k when most people across this forum are speculating about $100k? Are you not ready to believe into such speculations?

We are all human and emotions are part of the game, if you know how to handle it then you can have a chance to win big in this market. Trading requires a lot of skills and patience, emotions should be set aside if you’re trading because it can make you to the wrong way if emotions takes over every decision you’ll make. Losses is part of the game as well, Just keep trading until you consistently make good profit to cover all those losses.

You cant blame into someone if he had sell out on 50k because we do have different targets when it comes to our investment so neither he sell off early then its up to his choice.
Re-entering the market would really be the hardest thing now because the price is playing around 50-60k levels and playing with those movements is a bit stressful if youd ask me.
We don't know on when that 60k barrier would break out and we would go to another ATH in bitcoin market. Emotions is one of the biggest factors that would
really affect you when you do trade.You would have boggled your mind on where the price could possibly go.

Exactly. The ability to control emotion is one of the distinguishing quality or characteristic for an above average trader. This ability is tested during difficult times like cutting loses. Our emotion may interfere urge us to hodl but our trading system telling us to cut loses.

I don’t think there is anyone that will see their assets crashing and they wouldn’t feel some kind of emotional about it, even those that preaches that we shouldn’t worry about the price dip will also get worried about it, and that’s because it is not easy.

It’s true they say that we should invest the amount we can afford to lose in cryptocurrency trading, but I don’t think anyone holds money with the intention of losing it, but of course, we have to be ready for whatever will happen in the cryptocurrency market, be it a loss or a win, you just have to be ready whatever it is going to be.

- It's hard to put aside emotions, usually I just try to hold back and try to forget about it for a short time, that time is enough for me to solve the problems and develop strategies to minimize my damage and maximize the advantage I have, professional investors also act on this approach, they know it's impossible to get rid of emotion, focusing too much will let it leak to the outside. Therefore, by the experience and the things they have learned, they create a temporary emotional separation, not let it explode under important circumstances, only the veteran trader will understand.

Psychology or emotional in trading is a problem that almost all traders, beginners or professionals will experience. Psychology will attack when we are faced with a price that continues to fall and we buy at a fairly high price. this will test whether to Cut Loss or hold it. However, when the price goes up it is confused to sell or continue to hold it.

which of course we have to stick to our main goal, which is to get a profit. Regardless of the benefits, we should be satisfied.

do not panic when the market is not good, control your emotions and stick to the strategies that have been made.

Easy to say but when we are already on the actual market condition or experience then those kind of goals that you had set earlier will most likely be changed nor not be able to follow.

Controlling emotion is one of the hardest thing specially if you deal with this market which does have very volatile price which in result into panic when you do saw your
portfolio is dropping.

Experience is on of the main thing for you to able to suppress that emotion inside you. When you are experienced enough on various conditions
then reacting wont really be too obvious nor easily for you to freak out.

It is very unlikely if a person just comes into trading in order to lose his money, he comes because he wants profit but the problem is that if he is able to cope up with the risk and ready enough to accept losses.

It is to know that controlling our emotions is very important in trading and unfortunately, it comes to be the biggest problem to every trader as it was very challenging. And that is the reason why many had failed while just a few of them succeed.

Just staying in crypto market for long period alone will not get you the ability to handle your emotions; because I'm seeing some people who trading for years still going failed against their emotion control. Only those traders who are learning along with market fluctuations, are able to control themselves hence their emotions are not disturbing their trades.

You must have prior plan on what to do in the case of market is going against you. If you are having plans for everything then you will never need to go emotional. Just having strong technical analysis must be the simple solution to get rid of emotions.

It is very easy to say. It takes a lot of experience to regulate emotions so as not to do things that will cause harm.
I also suffered a lot of losses and I have been trained to be able to regulate emotions, learn from what I have experienced so far.
make technical analysis the main basis so as not to panic and take advantage of every existing fundamental condition.

We must have a strategy A and a strategy B, there must be a backup strategy to overcome any problems that do not go according to predictions.

Must be a valid suggestion, I definitely agree with this.

Usually I do have stoploss for all my trading because that is the only simple strategy B, I could have a right away when I am entering into any open position.

After opening a trade, I guess I'm not able to go for another complete different strategy to make another trade. Instead of keep trying within a day I will prefer taking a break so that I will come up with new ideas and all new strategy through different set of technical analysis which might be helping me to recover previous losses along with new profits.

And that is the issue, on the surface it seems very easy to control your emotions so you can always take the best possible decision but this is impossible to do, people are emotional creatures and they are going to get emotional when they lose a significant portion of their capital, after all it is not rare that people begin to think about the things they could have done with that money instead of investing in the market and begin to regret their decision, then they make a trade trying to get all of that money back only to lose even more money beginning a cycle from which they cannot escape.

Better to do that as there's always new sets of ideas when you do have fresh mindsets, having different strategy and execute one by one would help you to lessen the chance of losing huge amount of investment.

The best thing here is you have options, and once your first position didn't materialized the other one would help to try recovering or try to make some chances of taking decent profits.

Along the way, you'll learn the value of planning and how to work it out in favor to your investment,.

Yes, there are many strategies that can be taken. These all adjust the capital of the people. Backup, stop loss, hold are terms we often use in trading. My habit of buying coins is a coin that has a history of active devs and a large community. When my traditional analysis fails and the estimated price is below the price then I will buy again, Backup. If I don't have more money  then I just let it go, I am sure he will grow up.

A complete trading strategy is going to have you covered, if the strategy that you are using does not cover every single thing that can happen in the market then the strategy is incomplete and it is not going to be there for you just when you need it the most, it is important to think very carefully about your strategy and especially plan for every single thing that can go wrong, for example if you sell thinking we have reached the top but then the price keeps going up, what do you do in that situation? Will you enter the market again, short it or remain out of it until you see a dip? If you do not know beforehand what will you do you are bound to lose a lot of money when the time comes.

You made a very good point that if the team behind the coin is working actively and are known members of the blockchain community like Vitalik Buterin and others made Ethereum and now the team split and some of them have created Cardano (ADA) and some created PolkaDot (DOT) so yeah if we know that the team is working then despite the price of the coin plummeting you will have the confidence that the bounce back will happen once the product is out in the market.

Bitcoin might be the only coin without its owner being known and identified publicly that people trust it won't become dirt at all. All other coins have to show their team to even get attention and then make continuous updates in their project to have the faith of people. Bitcoin doesn't have to do all that, the uncrowned king of the crypto.

All the methods shared above don't work once your portfolio starts getting shredded, no matter how much confidence you have and what analysis you did.

It will be one sided of you to say newbies are always making losses because they believe crypto currency will always continue to more in an upward direction. Not only newbies in crypto currency has that believe or make such a mistake but even those acclaimed legendary in crypto currency trading have been having that believe which leads to massive lost of their trading capital.

I recently replied one forum legendary who have been making post in crypto currency trading for a long time now but believe Bitcoin price cannot drop below $50k and the following day it happen. So, is not by claiming you an expert in crypto currency trading because of them makes mistake that you will believe there are new to trading.

Often our strategies do not go as planned, which is not a surprise, given that crypto prices are very volatile. Therefore we must use the stop-loss
feature as a backup plan, so we can avoid large losses. Indeed, we also have to control emotions when trading, because if we can't control emotions,
finally a well-planned strategy. Can fail because we are unable to control emotions, therefore to become successful traders is not easy. There are
many things we have to learn and it requires a long process.
 

Yes, we cannot be success if we cannot control our own emotion and attitude towards our goals. Patience is also very important in cryptocurrency world, most of the people immediately exit when price goes down and don't believe in their plans to sell at the right position. FOMO also drive us to buy tokens at the peak resulting to lose when the price goes down. We should wait for the dip and buy not in the all-time high. Risk management is also important in trading.

I can still quite recall my panic sell back in the days, when I day traded in Binance. Sometimes it could be people just need to adjust their strategy because some aren't really for the short-term trading like me and would be like more efficient in longer-term gains. :)

Excellent Thread. The biggest emotional outburst I have seen from people is revenge trading. When they lose a certain part of capital especially when they hit a stop loss and the coin comes back to hit the target they tend to forget every rule. They create revenge psychology against the market. They feel that the market has taken their capital away and they will snatch it back. Now, this makes them more prone to losses as they forget each and every trading rule they have. The best solution in such a situation is to stay calm or exit the market for some time to relax and regain your consciousness. Create a threshold for yourself on both sides if you get that much profit or that much loss from the market stay out of the market after you hit that threshold.

This happened to everyone but you become stronger when you have experienced your mistake so many times, I know everyone advise newbies to calm down but they wouldn't listen to you untill it will bit ok them, the newbies know that staying calm when market crashes is good and perfect as a good trader but they won't stay to that rules, that's why there is a saying that says "experience is the best teacher". Let them experience it and they will stay stronger and calm during market crashes.

Majority wont listen and you are right that once someone do able to experience these unfortunate situations then these are the times that they would really be learning up from their mistakes
and making themselves to be a better trader or investor because people wont really be changing up his habits if they wont really be experience for themselves on getting wrecked due to their mistakes.
Emotions is one of the most common enemy not only limited to investment but on other key areas as well where you do need to calm off yourself and be mindful on what are the
next actions you should take for the sake of your advantage.

At times when the market is down, I always keep myself away from Twitter and other social media where a lot of news are speculations are being made. Over the years I have learned that no one knows what will happen next and the best possible thing to avoid panicking is that you just don't get involved in the conversation on social media.

In my opinion and as per my experience, controlling our emotions when we are having open position will be possible only through learning out of our own experiences. Just watching markets or reading/watching how other people are reacting to FUD/FOMO, will not help us to handle market pressure. So, managing our emotions will be possible only by self learning capabilities.

Actually if you make investments and trades based on the value of a coin instead of the price of it, you will never have too many problems when the market is falling because you invested in the futuristic value of the project.

I know it is hard to control yourself when the price drops (and as well when prices going up) but at those times you just need a few reasons to calm yourself down and investing in futuristic value can be one of them. Moreover, we are having good TA then probably we will not go emotionally outburst; only weak hands will get panic or aggressive.

This is where the role of emotion is very important. I continue to learn to be a person who is not greedy. When I close my trade with a profit but it exceeds my estimation that's enough I see. I will not try to enter again, my profits are up there and I have learned not to regret that I have left even though the price continues to rise. Even though I am not an expert I always try to draw a support line of resistance to determine when I will enter the market and I will exit the market it is mandatory, although sometimes it is coupled with a trader's instinct. Although the analysis is only a reinforcement because the market determines the direction of the course.

Controlling emotion is one of the hardest thing not only limited to trading but also into other sort of things in life as well.If you dont know on how to handle up yourself
then you would really be producing these kind of mistakes into your own decision since you cant really think off that well when you are into this state where your
emotions is really on the mix.When making out decisions and analysis you would really be needing that calmness and peace of mind.
Dont easily get hooked with external factors that will surely be the reason of disruption.

After I have seen the historical of Bitcoin and old altcoin since all these asset started trade on the market, I get view if the price down in bull season is just correction to go the price higher. In my personal opinion, if we loss at the moment above 20% is better keep hold and wait patient for the price recover. Or we can move to other altcoin that look has better fundamental and product. I think bull season is not over yet, and the market only correction and more investors will jump in to it and the price will go higher.

Long term gain is even easier in crypto market, you just bought around the dip and forget about it for another next few years when the bullrun cycle coming but also not forget to set alarm that informs you if the price of the coin already surpassed your target.
Most of the time it's the short term trader that gets affected by their emotion, after all short term trading is really exhausting since you need to monitor it more, meanwhile the long term holder mostly don't care whether it got dumped or pumped as long as it hasn't reached their target.

controlling emotions is very difficult, even a professional also has problems with their psychology and emotions.

Every human being has a greedy nature, depending on how we can manage emotions properly so as not to be too greedy.

A clear mind and analysis and correct decisions are needed, do not be easily provoked by other people. Indeed, many factors cause unstable emotions, but as much as possible trading should be done calmly and with a healthy mind.

Learning how to make profit irrespective of the market condition makes you a better investor. Once there is a drop in price we sell and a rise in price signals a bullish trend calling for buyers to prepare for a major buying opportunity.

I have seen numerous traders losing their capital today once again thanks to the hefty pump and continuation of display of emotions. Even when the market gave most of the traders a good chance to exit. Most of them really kept on buying the dip and when their capital almost ended the price went further south and now I can hear most of them screaming out loud. Those who sold in panic are the ones who have been affected the most. I think the bull run is over so we might see a lot of such crashes just like the way we used to see such spikes during the bull run. But emotionally weak trader would always lose money no matter what.

It is not an excuse because in the first place they know already what is trading. And before they put huge money in crypto, they will know also the risk inside but somehow these people are too positive neglected to think that they can still be at a loss if the market will dump.

This is only what I can say if they can't handle the stress and can't able to manage their emotion, this place isn't for them nor to say that they will succeed in trading. To be honest, it is really hard to change our mindset once you already have some bad experience as you can still remember it.

No, you're wrong, I know people who enters the crypto because it is trendy and without knowledge, Invest in it.

You can't underestimate how trend works in this age, and some people are pretty dumb to just go with the flow without knowing anything about where the flow takes them.

I accepted that each value drop is a trial of confidence that bitcoin needs to sift through the genuine financial backers that merit the huge benefit. I'm composing this. It is truly troublesome yet the main thing we need to recall that regardless of whether we have lost a lot of cash in exchanging and in contributing, our emotional wellness is the very pinnacle of significant right now.

Well to be honest, it is really nerve-wrecking to see your investments decrease significantly in value especially when the value of bitcoin drops. This also depends on the amount of your invested capital, thus, the higher the amount you invested, the higher the increase/decrease on your investments depending on the value of bitcoin.

Unfortunately, emotions are one of those things that are difficult to control in situations like these. It really is a true testament of one's discipline and knowledge about the market. That is why, assessing your risk and knowing when to exit is a key factor in determining whether you should continue to HODL or to exit.

You are right, in fact it is very difficult to control emotions, sometimes because we do not know how to control emotions we can do everything the other way around, that is, if we enter the market and the position goes against us, it is best to exit quickly, only then would we be accepting a normal and not very big loss, but we always do the opposite, which is to have hope that the price will recover, then we lengthen the losses, and when we are winning we leave quickly with the profit because we think that the movement reaches there and not it will continue to grow more, and it almost always happens that the movement is much bigger still, so we cut the losses, all these errors are those that are produced thanks to the emotions.

I think the only thing that cannot receive or feel emotions would be a bot, but bots also have their big flaws.

It's a good thing you actually bought that trx with the money you can afford to lose, else it would have been a big problem for you,myself have stopped trading for now, cause these days the crypto market is so volatile and it's just moving between one end to another, with no definite trend set, we might still be in a bull run but the market is taking too long to recover, its almost a month now since that crazy dip from $64k to $30k and bitcoin haven't made any attempt to go back above $50k,i think the best thing to do now is to just busy dips of good altcoins and look for something else to keep you busy.

I can say that psychology occupies 50% of the success of a trader, 30% for money management and 20% for technical analysis. From this picture, sometimes we give the biggest portion of technique by looking for various sources of technical learning. but it turns out that what determines the success of trading is within us

Don't panic, everyone lose their money in trading so you are not only facing this but how soon you understand what is the mistake done by you and rectify that in your next trade is the key point. If you continuously keep failing in trading then just take a break and then comeback when you ready, just keep in mind that don't over do it so you can avoid too much stress.

Good advised, never to over do your trades, it will complicates with your daily balance. if you see that things is not favoring you, taking some break will help you out to realize,

Give room to yourself and try to assess if you are keep failing with the same attitude towards your trading participation, if you can adjust and learn from each mistakes you'll soon find the right spice and patterns for more successful trade.

It's tough positioning yourself, emotions always make it tough especially when the trends is not favoring you.

But there are really people whom do really mind that they are the only ones who do losses up money and not much aware on how market works in terms of buyers and seller or get involved to those who made profit and to those who had lost. Overdoing not only in trading but also into other things in life would just produce up some not good outcomes or situations that you would be facing on. You would be needing some good control in terms of emotions as if
this would be primarily to show up when you are on a hard situation or scenario which i can say to be normal and this is where experience and self control would really matter.

Easier said than done.
This topic is somehow getting derailed a little bit already and it could fit to Off-Topic section.
Emotions is already part of us, and controlling it is hard but it would be best to hold off the reaction because that is where the result of emotion comes by.

Seriously from the little experience am having with people I  believe this is a very nice topic I believe as a beginner you have to know that you don't have to be emotional with any coin or you endup losing your money, for example you won't see a coin now and after trading it for the first time it gave you a good profit them you fall in love with the coin and decided to buy the coin a again you might endup losing your money the second time, and after buying a coin the coin started dumping and you ended up losing your money in the coin and you believe the best thing to do is to enter the coin again and make your money back you might still endup losing the amount you invested in the coin the second time again. So don't you ever fall in love with any coin as a trader you have to be neutral and do your research very well before buying a coin.

Your are among the type of people that do buy when one  supposed to sell and take profit from your investment. Good to know that you have learned your lesson and now buying at the right time. Now is the buying time whoever want to invest now before is too late again.

People had to change, learning from our mistakes is the best thing that could help us to grow and become more responsible for our future. Taking such an opportunity to buy at a low price, hold, and sell when rallying back, is a strategy that we commonly used, and yet it was efficient.
What makes people not enjoyed trading is because they are controlled by their fear and doubts. They are not comfortable of what they are doing which it leads to wrong decisions that become a reason for our failure.

The fear is as a result of the fact that many of them are either using their last money or the one they borrowed for investment purpose. Using such money for crypto currency trading will make you to be under pressure and in that condition you will not be able to make good trading decision rather yoy will end up with decision full of emotion.

Usually, I refrain from giving investment advice to others because neither I am an expert nor I want to be responsible for others' loss. This time though, I feel like suggesting others to buy because soon we might be on the rocket to the 100k cloud once a decent bull run starts. I still don't know why the price fell down by so much because we may blame someone for it, but a single guy although a billionaire shouldn't be solely responsible for the crash.

If you don't want to buy right now guys, at least don't sell at such prices because it's almost certain that we will hit better prices if not a new ATH altogether really soon. That said, it's your money so take your own decisions and I am just sharing my thoughts.

It's not easy to keep yourself up and optimistic when you have lost half your portfolio value but this is what we are all discussing in this thread, how to avoid the emotional outburst and gather ourselves.

There is literally no way one can rectify a mistake they didn't make in the first place. I don't think buying BTC @$55k-$60k was a mistake at all because the market was bullish and expectations were reaching $100k. A mistake would have been if someone invested in a shit coin and expected it to grow but BTC is the best possible asset to invest so it wasn't a mistake but a misfortune.

People have even suicided, I read in some Reddit posts and tweets. The best thing one can do during such times is to just lock their coins and forget about them for some time. If you keep checking their price daily and it is for some reason dropping bit by bit, you will eventually lose control and sell the in anger and that is what whales want people to do.