Don't look at btc every five minutes

[imacrypto]

This is what is happening to me as a newbie but now I will stop doing this and forge ahead.

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[DiabolicAnt]

This is a mistake a lot of us make. If you track btc every minute you are more prone to panic selling. Btc has a lot of ups and downs, if you are in it long term the short price has little meaning

Maybe there's a truth in your words. I spent last two weeks constantly updating coinmarketcap, waiting for the miracle...maybe it's better just to relax and wait.

[ace4549]

Actually doing this thing makes you paranoid in the eye of others but for me if you are a trader you should do this in order to consider the data that you already gather; serve as a basis in decision that you will make.

[Coin_Tracker01]

this is good advice , especially in times like this. the best option is to take your mind of crypto for a bit and enjoy life. when the market is back up you are ready to go.

[RakknRoll]

Yes. You need to monitor the price of bitcoin but it doesn't mean you need to monitor it every five minutes.
It is enough to check it 2-3 times a day or join to the group chat where the main topic is about the updates of the price of bitcoin to be aware in the price of it.

[Benchman]

Indeed.

The market is slow right now and day trading are almost dead. The best strategy right now is to buy btc under $7k and hold in the next 20 days (eta). I don't expect new bull run soon, but recovery over 9k are inevitable.

[nieninja53]

 Yes be positive with good future hope and don’t feel panic about market situation by watching every five minutes because bitcoin is not a five minute game its long term plan and have a long term future so don’t look at btc every five minutes,

[yesss]

This is a mistake a lot of us make. If you track btc every minute you are more prone to panic selling. Btc has a lot of ups and downs, if you are in it long term the short price has little meaning

I think that with a market that is constantly changing and difficult to predict, I believe that if the market fluctuates so you always have to monitor the market at all times and at all times. Bitcoin prices are constantly fluctuating and extremely hard to predict, and you can see that bitocin prices have fallen more than 70% in the last three months.

[Kidmat]

Yes be positive with good future hope and don’t feel panic about market situation by watching every five minutes because bitcoin is not a five minute game its long term plan and have a long term future so don’t look at btc every five minutes,

When we look into btc value everytime we tends to in panic mode to sell. Yes btc is a long term based and we should understand every investment is a risks. Their is a future to holds onto bitcoin price could gives us gains in the later time.

[naily]

I actually agree with not looking at bitcoin every five minutes because it is true, it makes you panic and would want to sell your coins before it is going to be pulled down further more. It makes you think crazy negative things which leads you to pulling out the coins you hodled and end up without having profits or no profit at all. Better go for long term trading and check once every month instead.

You do not also monitor every hour into the base of the coin may also we can not find a good trade in the market, because, as a good trader you have to find good stuff and have potential coins in the market. Always looking for bitcoin prices on a coin basis can make us tend to panic especially if we are in long-term investment.

[Saidmod]

I actually agree with not looking at bitcoin every five minutes because it is true, it makes you panic and would want to sell your coins before it is going to be pulled down further more. It makes you think crazy negative things which leads you to pulling out the coins you hodled and end up without having profits or no profit at all. Better go for long term trading and check once every month instead.

You do not also monitor every hour into the base of the coin may also we can not find a good trade in the market, because, as a good trader you have to find good stuff and have potential coins in the market. Always looking for bitcoin prices on a coin basis can make us tend to panic especially if we are in long-term investment.

No and maybe you do not still understand what is a long term hold. This coins is not dependent on bitcoins price if you saw it was dump or pump. The long term is by hodling it no matter its ups and down and you will only cone bavk or sell it when you think its enough for you to hodl and you're happy on its price.

[btcformula]

That's so true, watching the price every few minutes makes us want to panic sell the second we see a sell wall or short dumping happening which usually recovers in the next few minutes.

[Sandal_Hat]

That's so true, watching the price every few minutes makes us want to panic sell the second we see a sell wall or short dumping happening which usually recovers in the next few minutes.

Yep, juz human psychology although for the last 2 weeks, blockfolio look like it stopped still. Finally moving again now.

[lushlife]

Agreed, just a tip, use an alarm and put a sell order -2% of your buying price, and don't attempt to look at the chart, wait for the alarm to ring

[no0dlepunk]

This is a mistake a lot of us make. If you track btc every minute you are more prone to panic selling. Btc has a lot of ups and downs, if you are in it long term the short price has little meaning

I definitely agree with you. You have actually made me realize how foolish am I to look at the price on the 12th of November in 2017; that was the first leg of the operation dragon slayer and man I sweat my blood out because bitcoin cash was pumping and the bitcoin was moving the other way. Every minute of me looking at the charts had made me suicidal because It was so damn difficult to transfer bitcoins from my ledger to poloniex, the fee was so damn high and the traffic was hell of a stuck. I wish I could go back to that day and I promise not to look at the charts very often - I would definitely HODL for long term. The lesson I learned in a hard way is to take it easy on charts and never trust the news. Believe in bitcoin, and that's everything that we need.

[mstfprcn]

That's a very good advise. It even makes you sell your coins faster and you may loose a soon to come unterest. I think it's about time we all relaxed to allow bitcoin grow.if you are long term hodler -like me- you dont need blockfolio etc. anymore.

[t2yax]

This is why we know how volatile bitcoin price is, we should know that bitcoin price is very unstable. Bitcoin value is more likely like remittance center, we see how fast the bitcoin value motion. It is fast as Ferrari cars, we see it goes low but it so fast when going high. We should not look at bitcoin value every five minutes, because we cannot predict it whether it goes high or low will be.

[kolega]

If you do not do scalping, then that makes no sense. If you react to each change in the price of bitcoin over short periods of time, you will simply panic and make wrong decisions. Use stop-loss correctly and you will be insured against major losses.

[yslyv]

yes it is really irritating to watch bitcoin every minutes especially in bearish markets like going on now. it start to effect me physicolagically and push me to do something. sell or buy. it m8 be usefull for daily traders but for long term holders it is irritating.

[nurbay]

On the other side, maybe seeing BTC every minute will make panic sales, but on the other side, it aims to monitor the development of BTC prices.
We need to look at BTC every time to take steps to make a sale or purchase BTC.
Because we know, Bitcoin has the unpredictability of its value, every time can change depending on market conditions.