Control your trading emotional outburst and get yourself together!

[so98nn]

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.


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)


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.


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..

[Kittygalore]

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.

[Maus0728]

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.

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

[jahepahit]

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.

[Dilerium90]

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.

[Hannahanto]

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.

[Lordhermes]

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.

[Distinctin]

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.

[death69]

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

[gabbie2010]

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.

[MrcMrc]

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.

[RondoAnyar]

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

[Husires]

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.

[SirLancelot]

^^ 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.

[herurist]

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.

[stomachgrowls]

STOP PANIC:

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.

OPPORTUNITY

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.

[pawanjain]

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.


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..

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.

[Yamifoud]

^^ 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.

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.

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.

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.

[Willitivity]

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.

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.

[xSkylarx]

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.