Question for bitcoin traders !!!

[imstillthebest]

"The hardest thing in life is not about how much money you can make, but how to keep your mind calm and live the rest of your life in a simple and carefree way"

isn't both are connected ? you won't get a peace of mind of thinking how can you make more money .
if we want a peace of mind we need to live simple . Having a lesser source to get an income would be enough but make sure it was stable .
we can still do crypto trade on the side but let's make things easy and less serious.

[The Cryptovator]

It's always easy to advise others, but following for own is very difficult. There are a few cool-minded traders who never panic they could decide with patience. People like me just become panic during dumping prices. To be honest, when I decide to hold Bitcoin for few months, then Bitcoin just starts to dump. When buying in a dip then encounter more dip. So usually we become panic instead of patience. Listen, we can't ignore relationships with life and money, so when you are losing money it will affect your life automatically. That's why we become panic during dumping, but it's pretty sure cool-minded people will gainer at the end of the day.

[Vaculin]

The burden of thought must be in every trade because it is influenced by very fluctuating movements in every sector that is traded, you will definitely experience the thought of taking care of yourself sometimes if this is not constrained it will cause heavy stress later, but for me this is normal in trading, so every drop that is so drastic the thoughts in my head must be there but I don't feel it so deeply because this is already a down time and we are just waiting for the best moment to recover it

What will be a burden on my mind is that I borrowed money for bitcoin trading capital and then bought it after that it fell by almost 50%, now I can't imagine how heavy this burden is with things you don't have to do before.

Your intention of borrowing money is good but you are unlucky, the market just fell and if you will sell your coins at this time, it gonna hard for you to recover. You better hold them and wait for the right moment to sell.

Actually, that is difficult when you are trading in a single coin and once it drops, you don't have another choice rather than to sell it or hold. But if you are using 2-3 coins, we can use the other fund for recovery while waiting for the others to pump.
But above all, borrowing money for trading is not really a good idea IMO.

[andriarto]

"The hardest thing in life is not about how much money you can make, but how to keep your mind calm and live the rest of your life in a simple and carefree way"

isn't both are connected ? you won't get a peace of mind of thinking how can you make more money .
if we want a peace of mind we need to live simple . Having a lesser source to get an income would be enough but make sure it was stable .
we can still do crypto trade on the side but let's make things easy and less serious.

peace of mind is a priority to carry out the next step. The burden of life is getting heavier and heavier, but if we try, of course there will be a way to cover that need. therefore a simple lifestyle will help us to be able to set aside money, to invest or trade, so that later we will be able to change fate, not stagnant like now

[Ararbermas]

Actually bitcoin always experience such situation wherein even before. So don't fell and follow in your emotions because as long as you will stay holding the chance to regain all your losses is still in your hands.  So be patient instead of worrying because that's common now due to some whale's that always manipulate the market.. Control your emotions and never give up mate it will recover anytime soon. Just relax..

[Kelvinid]

Actually bitcoin always experience such situation wherein even before. So don't fell and follow in your emotions because as long as you will stay holding the chance to regain all your losses is still in your hands.  So be patient instead of worrying because that's common now due to some whale's that always manipulate the market.. Control your emotions and never give up mate it will recover anytime soon. Just relax..

Frustration and market disappointments are really what we commonly feel when we suffered losses. No one could escape this thing, honestly. If we just give up and leave crypto, we have no chance to recover our losses but there is one thing that we need to look at ourselves if we can really do trading. Because some traders are pretending to be good and know what they did but the reality is that they don't have any knowledge about trading, only they just know the basics and this is not enough to make a good profit in here, but most likely it was just losses.

[DoublerHunter]

~snip~

Frustration and market disappointments are really what we commonly feel when we suffered losses. No one could escape this thing, honestly. If we just give up and leave crypto, we have no chance to recover our losses but there is one thing that we need to look at ourselves if we can really do trading. Because some traders are pretending to be good and know what they did but the reality is that they don't have any knowledge about trading, only they just know the basics and this is not enough to make a good profit in here, but most likely it was just losses.

^ This could what you have felt when you are always looking at the market price because you are always worried about the BTC price will drop.
You are always putting yourself into consciousness seeing the market was painted on a red color, that is why sooner or later you will think to sell your crypto-asset quickly. But after investing and you will forget for how many years, it could your profit was there, but probably you can do it since you will listen to the FUD.

[Serco]

Actually bitcoin always experience such situation wherein even before. So don't fell and follow in your emotions because as long as you will stay holding the chance to regain all your losses is still in your hands.  So be patient instead of worrying because that's common now due to some whale's that always manipulate the market.. Control your emotions and never give up mate it will recover anytime soon. Just relax..

market volatility could make our emotion uncontrolled and some of them will be panic when looking all cryptocurrency price drop alot. In few years ago we have been saw this market cycle but we didnt prepare our self to face it. Price will recovery its highest and even create new one , but it take time  and we have to patient waiting this moment come.

[jrrsparkles]

"The hardest thing in life is not about how much money you can make, but how to keep your mind calm and live the rest of your life in a simple and carefree way". This is a quote that I think can inspire us as people who spend almost all of their time trying to make as much money as possible by trading or other jobs else online or offline. The above quote is from the famous actor Chow-yun-fat that I found online.

We know that the price of bitcoin is never stable and very volatile. When we are involved in the market and have invested most of the money, it is almost impossible for us to just leave it without paying attention to the price on a regular basis. Bitcoin price fluctuation affect trader more or less psychologically, so it is true that there is an unknown mind burden in it that make it difficult for us not to stare at the monitor, especially when price are dump.

What will you do so as not to burden your mind with bitcoin price fluctuation? We all know that currently the price of bitcoin has fallen by as much as 47% from ATH.

Either you have to get used to the condition which is the market is never going to be stable so we always have to ready to face the worse scenario when you wake up or you can implement strategies to minimize the losses for example if you don't want the Bitcoin price to fall below 10% then you can set stop loss then you may save lot of money from big losses or you will escape with minimal loss.

[wxa7115]

"The hardest thing in life is not about how much money you can make, but how to keep your mind calm and live the rest of your life in a simple and carefree way". This is a quote that I think can inspire us as people who spend almost all of their time trying to make as much money as possible by trading or other jobs else online or offline. The above quote is from the famous actor Chow-yun-fat that I found online.

We know that the price of bitcoin is never stable and very volatile. When we are involved in the market and have invested most of the money, it is almost impossible for us to just leave it without paying attention to the price on a regular basis. Bitcoin price fluctuation affect trader more or less psychologically, so it is true that there is an unknown mind burden in it that make it difficult for us not to stare at the monitor, especially when price are dump.

What will you do so as not to burden your mind with bitcoin price fluctuation? We all know that currently the price of bitcoin has fallen by as much as 47% from ATH.

If you are a trader I do not think this is something that you can truly do, traders live and die by the price of the assets they are trading, it is in their nature and I do not think this is ever going to change.

However if you are an investor you have a chance of doing this and probably the best way to do this is to have many other things in your life that you enjoy, if you have many hobbies that you like and family and friends that you enjoy being with then you can easily take off your mind from the markets and be able to resist the negative changes in the price without too much of a problem.

[Woodie]

What will you do so as not to burden your mind with bitcoin price fluctuation? We all know that currently the price of bitcoin has fallen by as much as 47% from ATH.

People that are mostly panic are traders, it is because they trade often.

People who usually trade tend to know market behavior and with time and experience this panic goes away. Imagine trading bitcoin for the first time and price is everywhere,  chances are you will open and close several trades before you settle for something, so am disputing this that those that trade oftenly are panic traders.

To not panic and have rest of mind, just be very calm and patient, wait for the price to dump, invest small, if the price continue to dump, invest more and like that. Some people will see dump price and invest all, that is very wrong. if you invest small, you will be able to invest more if the price dump the more. No matter what will happen, the price will later increase.

Rested mind and calmness is very vital when it comes to trading agreed.
But am Not sure if this is a strategy being described above but the best is to find something that works, if you the type that works well with ICT trading stick to that...if you use indicators use that just don't apply everything at once..

[el kaka22]

I do not get why people think that all the traders or investors think about bitcoin all day every day. Hell my job revolves around crypto and yet I do not think about bitcoin in my daily life a second, I get that some people may, but I do not do it and I just ignore it completely. If you ask me what the price of bitcoin is at midnight today I will not be able to answer you correctly, I know it right now because my job requires it but that's it, as soon as my job is over I end up going back to what I always do and ignore crypto all together.

I am sure 90% of the people I know are like that as well, we all care during the work hours and we try to invest and do stuff etc but at the end of the day we just go back to our TV and watch some netflix and fall asleep, that is about it. I do not even want to cook for dinner most nights, just order something because I just want to relax, and crypto is not relaxing me so I just ignore it completely.

[Ziskinberg]

I will say that I'm still good, sometimes I lose, and sometimes I'm in profit. But to tell you guys, you better check altcoins as base on my experience, they are more profitable than having Bitcoin for trade. Maybe, I encourage you not to focus only on Bitcoin alone, we are not investing that needs assurance but we are in trading, short-term trading is the best option. Although choosing not known projects for a trade is risky, you will just notice that this gives you huge gains possible if you got lucky and I have that kind of experience.

[Reid]

so it is true that there is an unknown mind burden in it that make it difficult for us not to stare at the monitor, especially when price are dump.

I do this every time as long as I am awake especially when the price moves in thousands of dollars.
I can't let go of my eyes just looking at the monitor and most of the time it stresses my eyes where it blinks without my control.

Maybe it's some type of small panic. I am nervous that the market won't go as I want it or predicted to happen and afraid I might lose more than just my expectation. You can't stop it or let's say it will not be easy, for the volatility will stay.
What I do, try to get out of my house in just one moment, breathe some good air and relax. I mean, there is really nothing you can do with a market that no one can control.

[Distinctin]

~

Either you have to get used to the condition which is the market is never going to be stable so we always have to ready to face the worse scenario when you wake up or you can implement strategies to minimize the losses for example if you don't want the Bitcoin price to fall below 10% then you can set stop loss then you may save lot of money from big losses or you will escape with minimal loss.

I think that will be the last option, because if we can still manage to hold for a while much better than doing stop loss.

We can't really hide our fear and we can feel it naturally. But, we should consider the situation where the market is not stable and probably we know that already since from the start. It was not the market will do the favor for us but instead, we are the ones to make some adjustments just to cope up with the tragic changes.

[semobo]

If you want to be a bitcoin trader then adapt the behaviour of bitcoin, don't simply learn about trading like stocks and forex then enter into the cryptocurrency trading because both are completely different level of volatilness. The goal is to make money but you can't keep making no matter how good your analyzing skill is...

[michellee]

If you want to be a bitcoin trader then adapt the behaviour of bitcoin, don't simply learn about trading like stocks and forex then enter into the cryptocurrency trading because both are completely different level of volatilness. The goal is to make money but you can't keep making no matter how good your analyzing skill is...

Forex trading and bitcoin trading will not be the same but maybe some forex trading indicator can be applied to bitcoin trading but I do not know which one. If you are interested in bitcoin trading, maybe searching for a bitcoin trading lesson will help you understand that. The more you can learn about bitcoin trading, the more you will have a chance to make a profit. But it is not easy to learn bitcoin trading as you need to spend some time to learn and experience that you will get from every trading that you do.

[CryptopreneurBrainboss]

What will you do so as not to burden your mind with bitcoin price fluctuation?

For traders that'll be very difficult since it'll be very difficult to stay off the monitor but maybe this might help. Understanding that the market works in phase would help reduce the burden knowing fully well that the market won't stay long forever. It'll surely bounce back one day and turn your losses into profit.

Now if your trades are in losses and provided you tried trading some genuine like Bitcoin and not the worthless shitcoin out there then you can turn your intended trade into and investment and hold until your coins untill the market picks up the bullish momentum back.

Don't be in a rush to sell, which is why if you're picking coins to trade, stay off the hyped projects and trade project that if things don't go your way you can end up holding the coins instead of quickly selling at loss in order not to loss all your invested capital.

[markdario112616]

-snip

isn't both are connected ? you won't get a peace of mind of thinking how can you make more money .
if we want a peace of mind we need to live simple . Having a lesser source to get an income would be enough but make sure it was stable .
we can still do crypto trade on the side but let's make things easy and less serious.

This is one of the main reasons, why emotion should be separated in trading. In trading, One must leave this emotion behind and use only the available information gathered.

And to disagree about "if we want a peace of mind we need to live simple", We deserve everything good in our life. Why would you limit your opportunity by not sticking with the principle of having peace of mind, especially that you are talking about Cryptos? That's why you have to engage in the crypto world in the first place, to have another source of Income.

Next point, Having a lesser source to get an income. I find this funny to be honest, A lesser income but stable? At this point in time, the fact that cost of living is much higher than usual. Why would you settle for less? Nothing is stable right now, and that's a fact. We are in a time of uncertainty, in which we might lose everything the next day. Isn't that much for a piece of mind?

If you are into money and opportunity one must take it seriously or much better smartly. Last, Crypto isn't that easy as plug and play.

[sana54210]

so it is true that there is an unknown mind burden in it that make it difficult for us not to stare at the monitor, especially when price are dump.

I do this every time as long as I am awake especially when the price moves in thousands of dollars.
I can't let go of my eyes just looking at the monitor and most of the time it stresses my eyes where it blinks without my control.

Maybe it's some type of small panic. I am nervous that the market won't go as I want it or predicted to happen and afraid I might lose more than just my expectation. You can't stop it or let's say it will not be easy, for the volatility will stay.
What I do, try to get out of my house in just one moment, breathe some good air and relax. I mean, there is really nothing you can do with a market that no one can control.

You should definitely try to relax more often because crypto would cause you to have health problems if you keep this up, normally I would not suggest something like this to people but the reality is that bitcoin is not something that you should do as a life style, not for anyone, it is not a life style it is a currency, nobody goes checks their dollar constantly unless they are scrooge mcduck and I would advise the same for bitcoin as well. Just focus on what you can do and that is going to be enough.

I personally believe that the best way to handle this would be to gain a hobby, if you have a hobby then you could make a profit from crypto while also keeping your sanity as well. Also in order to stop looking at it, just buy and hold and do nothing else, it would allow you to gain profit in the long term anyway and you wouldn't have to worry about it.