Don't look at btc every five minutes

[coynedterm]

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

Yeah that is the truth in actual. , In the starting when I joined the bitcoin work then at that time I bought a fraction of the bitcoin and then always look for the price that it is going up or down and if going up then how much I made profit and if it is going down then how much I lost but in actual I was losting my time to see the price and getting myself manyntiems into Panic and always thinking that I should sell my btc but after one to two months I stopped to see the price and started to work with more hard-work and making knowledge in this forum for every type of the terms .
Since to see moment in the price of the bitcoin is better for those who are making trading with Fiat Because that results into many things to Handle the work or trading According to market  fluctuations and demand of bitcoin ( whether to buy in bulk or not ) .

[stadus]

Look at BTC every five minutes will be tiring. By the way, the fluctuation is not so much. If the reason why they look at BTC every few minutes is that they want to get daily income in trading then it is not so good for a beginner.

For me i think there is nothing wrong with checking your holdings and the price once a day if you are a long term holder after all you do not want to be like those people that do not realize they were hacked and not only they lose their coins of a wallet but the hacker has even more time to hack the rest of his wallets but a limit must be set so we can avoid that obsession.

Everyone has different way of managing their emotion, some get easily excited that is why they keep looking at the price.
They get easily happy or hype depending on the price of bitcoin but in my case I learn to control myself and just stay discipline because in the end
we just want to survive in this long term holding.

[kingragnar]

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

so it is. If you always look at the bitcoin movement every minute it is likely that it will only come in panic selling too much as it's why it's ups and downs its price it's better to read about the new news that comes out about bitcoin because it's better you're updating what happens to bitcoin is not just the price of bitcoin as you focus your attention

[Uno17]

It’s easy to say, but it’s hard to do😃 i guess almost every bitcoin holder tempts to open and check everytime they get a freetime like me, unless if your day is too hectic and so pre occupied of doing things, that’s the case maybe you can can take forgranted opening your bitcoin wallet, but if you are managing your own time, no boss to follow, i am pretty sure that your hands get itch to check bitcoin from time to time😊

[djselery]

We all know that Bitcoin's price is very volatile, so we don't have to panic or to be very emotional whenever the price go down. I think before investing in BTC we need to make our detailed plan about holding, and the most profitable plan is storing the bitcoins for long term. Bitcoin is expected to rise highly in the few next years.

[TYPEcoin]

Best problem for me when i invest in crypto iam going with blockfolio and refresh it eveyrtime and worry alot Invested in Crypto ? Then u will worrys eveyday Better dont worry and dont invest if worry

[EmmaVitto@tutanota.com]

Honestly I am those one who always check the price value of btc every minute.But getting addicted on it is like panic when it goes down like everybody doing also.Cause I am very curious when it goes down and up and I want to know it immediately .

[ariandrbz]

the person who used to look at the BTC charts every few minutes he knows nothing about trading, he's investing in bitcoin without knowledge and no passion

[Webetcoins]

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

yes of course do not look at bitcoin prices every 5 minutes but you should buy bitcoin then leave it at least for a month or a year yes long term play is more profitable if you have bitcoin balance.

This is the normal tendency now a day that the people purchase the bitcoin and then after every couple of hours they start watching the trend of the market whereas this is not only wrong technique but also very much demoralising which can effect your further decisions. If you are prone to this bad habit, then its about time to stop it because the major disadvantage of this is that you loose your focus on the potential rise of the price and the decisions on the future investments get effected very badly.

[coinfinger]

I agree with this theme no need to see bitcoin every five minutes because it can make you confused or panic losing bitcoin barley with cheap price.

It depends on the traders, no matter how often I check bitcoin price but if my main purpose is for long term hodling then I wont do panic selling. Checking bitcoin price more often will help traders to decide what to do. Panic selling usually done by beginner traders who are afraid to lose their money, they hope to make profit in short time but they are not ready with the fluctuation.

And no matter how often we check the price it won't change any way.
And if you're long term holder the price doesn't matter because you're not selling it. However, checking it every minute is a real struggle tho as we wanted to see if our coins doing, checking doesn't mean we want to sell it but rather just observe the market.

It really would not change anything, but most times, a lot of us cannot just control the impulse. However, based on what the OP has said, it is the long term, so at times, it is not really necessary checking every few minutes. Let the market do its thing, the market cannot keep going up and down forever, but for anyone that understands that the future of bitcoin is great, checking the price often will not even suffice.

[CryptoWorld87]

Lol thats true, when i was just a bigginer i was also doing that even in my work i also checking my profulio almost every hour. And i feel depress when i see that the price goes down and im so happy if i see the price goes up too. But now i just buying and hold for months atleast without checking the price i just set the price and wait to fill in.

[zeaderza]

If you are an investor, then you do not need to control the market every 5 minutes. For an investor, one of the important skills is the ability to wait. And if you trade within a day, then the market must be constantly monitored. Otherwise, you can lose your money.

Patience! That is all that is important and most especially for long term investors. As long as you are not even a short term trader playing with the market swings, the last thing anyone should be worried about is the price.

This is the reason, a lot of long time holders usually give the advice of not investing what you cannot afford to lose, as that can help you prepare your mind and assist you from making any rash emotional decisions to jeopardize the long term benefit you are going to have.

[hitrawal91]

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

Yes i agree with you and you are right there is no profit or you can say it is not good to see Bitcoin price chart for every five minutes. Actually, people do not know how to handle the panicking movement and they do not try to understand that you should be entering the market and exiting from the market on timely basis and according to the changing volatile Market conditions an basically its of no use if you are a regular long-term player who is actively holding for long term basis.

[PonyBoy]

Very nice strategy its trade by PLAN

Example you write on paper like that :

I buy litecoin on 200$ price for 100$ investment
When price go upper for 5%-7% i fix my profit.
If price go down for 5-7% i fix my loose .

And you need follow you paper always . If u dont follow ur plan u will loose one time very hard

[bohr]

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

Trying to be updated about the bitcoin price is not bad.But those who have bought Bitcoins as a long term investment need not have to worry about the price fluctuations in short time.

Even a long term holder will have curiosity to check the price of bitcoin once in a while what we need to ask ourselves is how strong is our commitment to hold bitcoin, if it is strong then there is not really an issue with looking at the price as many times as you want but if you are still new to holding and you still do not have a strong determination then it may be best to avoid looking at the price more than once a day.

[chengyinoing]

I've been used to seeing the price for a while, and I've taken it as part of my life, and I'm happy when the price goes up.

I'm sticking with my bitcoin, and I think it's going to go up even more.

[Periodik]

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

That is correct. It is when people starts checking the prices every minute that they also begin to worry about a dip. And especially if the dip is reaching a bigger percentage, they might only worry too much that they start creating a lot of negative scenarios in their rich minds and they will end up selling. With a loss! That is the sad part. In the future, when they look back at these instances, there will be nothing else to say but regrets. 

[ethereumhunter]

at least, I take a look at bitcoin every hours only but sometimes I try with 15 minutes or 30 minutes. I think if we take a look at bitcoin price in every five minutes, it is too fast to follow and sometimes it makes me confuse to determine the price to buy or to sell. so far, I don't have any problem to see the price at that range of time and it really helps me to find a good price to buy and sell.

[jambul_kribo]

at least, I take a look at bitcoin every hours only but sometimes I try with 15 minutes or 30 minutes. I think if we take a look at bitcoin price in every five minutes, it is too fast to follow and sometimes it makes me confuse to determine the price to buy or to sell. so far, I don't have any problem to see the price at that range of time and it really helps me to find a good price to buy and sell.

dont look bitcoin price to often,this is not good for our psychology.sometimes we affected the volatilty and if we could not control our mind,,its could be panic sell.

[anavir]

it can'not be prevented lol...we are in bitcoin because we have a goal that is why out of curiousity i have the habit of looking bitcoin value in which sometimes makes me sad when it is dropping but makes me feel excited when it rise again...mix emotion .