Handing your Happiness to Mr. Crypto Market

[DiabolicAnt]

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.

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[StevenPop]

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.

[buwaytress]

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?

[bettercrypto]

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!

[stompix]

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

[Kiweikoo]

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.

[wuvdoll]

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.

Yeah, there is no way someone who keeps checking price, even though sometimes you cannot help it, but most especially in a downtrend, will not get emotional. Checking the price is not even a problem, but understanding what you have invested in is the challenge most people have, as they only get to invest so as to get rich quick, which gives most of them the idea of joining FOMO most of the time and expecting so much from a volatile market.

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.

[jakagintiri]

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.

[dunfida]

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.

[Jonsnowstark]

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.

[Jlimao28]

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.

[gharjas2517]

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.

[btc78]

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.

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.

Thats why it must be prevented,the weak attitude that every time theres a bad news we panicked easily and plans to sell the coins instantly without any thinking that price might be more lower as we are acting this weakened mentality..we should always remember that price of crypto doesnt stay as this and trust the coins in your folio..as long as potentially coins are in your hand then theres no need to be afraid of losing

[magneto]

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.

[Hazaki]

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 ..

[jhean_arcane]

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.