BTC price is affecting your? Tips and ideas you must know (for newbies as well)

[Jaycee99]

Today bitcoin might fall to 30k flat to 29k (base on myself prediction ) or surprise us on a skyrocket today as I went back to know more about bitcoin or other cryptocurrency there is a lot of newbies that just hold bitcoin or trade without having a thought of what they might experience if they lost what they have invested. Its good to invest but you must know this...


Here is what I would like to share

If you're having anxiety be on different things you must know that every rich man or woman does not walk in bitcoin.
1. If you must, call an emergency hotline or know a professional you must know the number or a way to communicate with a professional to talk about what you are experiencing like hotlines for anxiety and depression. (or simply talk to a friend)

2. If you have a passion and you decided to focus on bitcoin you must stop and think, like I said every rich men or woman does not run or walk in investing in bitcoin they use their skills to earn more money

3. Don't work hard that likely you get extra jobs just to invest everything in bitcoin or another cryptocurrency.

4.Connected to previews tips and concerns of mine you must save money for yourself not everything for bitcoin.

5.  Do not let your emotions get the best of you.

6. YOU MUST DO THIS CONNECTED TO NUMBER ONE.
 TAKE A DEEP BREATH and THINK or call someone, I know it may be funny calling hotlines for anxiety and depression but who knows it may help I may not experience it but in which from different stories I read I think it may help you.

Creating this topic is coming from my 20121 self and coming from different people who try to help and talk about their experiences.

NOTE: Once I was finish typing I remembered creating a topic before connected to the subject that I made now. So, as finished this topic I hunt down my old post and decided to post a photo to avoid spam, and here it is coming from the version of my 2018 self ( which made me proud a bit ) which knows the basic that others should also know and might already know.



https://bitcointalk.org/index.php?topic=3256069.msg33914671#msg33914671



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[GreatArkansas]

If you want to add up tips or something, add it to the list follow or add it to my number, and so on.

For me.
First I will identify first what I am doing, I am doing day trading? Scalping? Mid-term trading? Long-term holder?
So, if you are a trader, especially a day trader, it is expected you are really into the market, doing some charts, technical analysis, fundamental analysis, etc.

My best advice if you doing trade, RISK MANAGEMENT. Stop-loss, and price target every time you make trades.

[isaac_clarke22]

~

I could've gone longer in my day trading days back in the days when I was still learning the ropes.
Reading charts is really harder than I thought, even though there are already indicators provided like Bollinger Band.
Guess I was caught off-guard my emotions as well.

[tranthidung]

My best advice if you doing trade, RISK MANAGEMENT. Stop-loss, and price target every time you make trades.

Risk management also means that a good and experienced trader knows when to exit position as a draw or minor loss.

A position close with draw or minor loss help to protect capital as much as possible. Capital is sort of blood for traders and investors. If a trader only want to close position with profit, that guy should leave the market. 10 win orders won't help you get rich and become a billionaire but one big lost order will be able to liquidate your account.

[bekti3]

5.  Do not let your emotions get the best of you.

as someone who is still said to be a beginner, I am still interested in this point, how? and what to do? when I can't control my emotions. and give me a reference for controlling emotions.

Creating this topic is coming from my 20121 self and coming from different people who try to help and talk about their experiences.

upss you may mean 2021.

[so98nn]

I barely doubt bitcoin will ever go that much down now. All I see is up surge for the bitcoin prices. Considering the fact that mempool is now easing with the unconfirmed transaction we are gonna get to the upward direction only. Also note that, the china blackout was temp prob which caused the previous massive drop so I am not sure if you studied the same but now everything will be fully operational in no time. With such aggressive support we are going only in upper side of the graph.

Yes, your guide regarding the panic and emotions is correct. Hopefully newbies will be reading through it and implementing the same.

But one more vital thing we should teach them: "They must start the technical analysis studies on the market". They are far more helpful and can help control the emotions and panic/fomo sells.

[hugeblack]

Anxiety, fear and greed are not bad things we must learn to turn them into a force that makes us more money.
If you look at the price every 4 hours and feel anxious, there is no point in wasting all that energy, learning how to control your feelings, and learning more so that you can transfer it into money.
More fear requires more learning and spending more time enjoying your money. Many people do not enjoy their earnings.

[Findingnemo]

First, trading is not same as investing and you no need to be a rich person to start trading an investing which is really a contradiction from point of view.

BTC price movement is the the only reason why people are making money out of trading so if it is affecting you then try to analyze it better then you will also start to make some money then keep investing it to make more money.

[samcrypto]

Looking at the price of Bitcoin every seconds of your life is not advisable, it can really create stress, panic, and FUD so if you’re holding bitcoin better to at least monitor the price once a day and limit your exposure in the market if you can’t still control your emotion.

We experience so many bad days with cryptocurrency and with Bitcoin, but looking at the position that we’re into right now, you can realize that there’s always a bright tomorrow with bitcoin. Its ok to ask for a help so they can guide you and they can calm you every time you feel bad with the price of Bitcoin. My suggestion would be, invest only the money you can afford to lose and don’t depend on bitcoin alone, you have to create multiple source of income.

[Ryker1]

Well, dont make it worst --just talk one of your family member, you sister/brother or which you are close your mother/father. In that case, it will help you to avoid depression. This will perhaps need a self-control emotion because the more you will think the more it will cause a sudden depression. However, if you are new to crypto --you should understand anything first. For newbies, I will suggest choosing a long-term holding, it is quite safe than scalping and margin trading which is you don't know it will wipe out your all money.

[Fatunad]

Looking at the price of Bitcoin every seconds of your life is not advisable, it can really create stress, panic, and FUD so if you’re holding bitcoin better to at least monitor the price once a day and limit your exposure in the market if you can’t still control your emotion.

We experience so many bad days with cryptocurrency and with Bitcoin, but looking at the position that we’re into right now, you can realize that there’s always a bright tomorrow with bitcoin. Its ok to ask for a help so they can guide you and they can calm you every time you feel bad with the price of Bitcoin. My suggestion would be, invest only the money you can afford to lose and don’t depend on bitcoin alone, you have to create multiple source of income.

I can already consider myself to be a crypto addict because there's no particular day which i havent checked out the market price from time to time.I dont like to miss out
even with the slightest movements that had made specially into bitcoin and also with other coins as well on where i had invest.There's no doubt that it could really create
some stress or panic when you do saw that it is declining and this is where people self control will vary because we do have different reactions and actions to be made
when we do experience such scenario or situation this is why it will really be varying into someone.

[CaVO32]

Anxiety, fear and greed are not bad things we must learn to turn them into a force that makes us more money.
If you look at the price every 4 hours and feel anxious, there is no point in wasting all that energy, learning how to control your feelings, and learning more so that you can transfer it into money.
More fear requires more learning and spending more time enjoying your money. Many people do not enjoy their earnings.

Those emotions are normal especially if you are heavily invested into something. Just like when you are into crypto and you have invested in bitcoin or other alts. You tend to check their market movement, which is understandable. But if you feel it is affecting your mental or physical health, maybe, it is time for you to assess the situation. Maybe, it is not the type of investment that you need to explore with. Because in the long run, it might really affect your whole being and you will suffer more intense emotion like depression. Weigh your options here, it is better to address your situation early rather than when you are already in the deep trouble.

[passwordnow]

Working hard is essential especially if you're aiming for something. Why would someone stop working hard if he wants to achieve his dreams and understands the risk that he pursues upon investing in bitcoin? Instead, I'd say that only invest what he can afford to lose and keep working hard to achieve their goals. Someone who works hard can decide to invest big portion to cryptocurrencies if that's what he wants, the other reminder should be DYOR before releasing his hard earned money into it.

[martina14]

Being a trader is not a simple thing, as what the others think it is easy and simple of course not! this might be easy and simple only because you will only put it on buy and sell only, you are wrong if you think like this thing. Because, trading is engaged with time and effort or skills without this you cannot earn nice or good in the end for sure. And you must know how to identify yourself in which of you are belong too, are a day trader or long term trader something like that.

[awik p]

Working hard is essential especially if you're aiming for something. Why would someone stop working hard if he wants to achieve his dreams and understands the risk that he pursues upon investing in bitcoin? Instead, I'd say that only invest what he can afford to lose and keep working hard to achieve their goals. Someone who works hard can decide to invest big portion to cryptocurrencies if that's what he wants, the other reminder should be DYOR before releasing his hard earned money into it.

sometimes success occurs after we experience various failures. Likewise, investing in bitcoin may be a lot of pressure to make a profit at first. but rest assured that all efforts will certainly get the results commensurate

[Obito]

Anxiety, fear and greed are not bad things we must learn to turn them into a force that makes us more money.
If you look at the price every 4 hours and feel anxious, there is no point in wasting all that energy, learning how to control your feelings, and learning more so that you can transfer it into money.
More fear requires more learning and spending more time enjoying your money. Many people do not enjoy their earnings.

Correct, if you can use those negative emotions to make money, then you are probably going to be better off. Remember that the people who are successful in life are those that see opportunity in times of negativity. I also observed it more often now, people not being grateful or scared that the prices will go down in around a percentage when those prices was what we were wishing back when prices were still 4 digits.