Question for bitcoin traders !!!

[skarais]

"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.

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[Oshosondy]

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. 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.

[Smartvirus]

The question here is and apparently where the problem lies is, 'What kind of trader and trading are you unto?'.
Are you a day trader that is concerned about picking the little pips in the market? Or
Are you a hodler that just invests and waits on the market to appreciate in price before thinking of exchanging to doing away with your investment.
This is actually where the market actually plays around with your thoughts and most of all, it's the day traders that 7s concerned or affected the most. The long term traders could easily relax and be rest assured that, there huge input would yield good returns in the long run but the short term traders are more concerned about the opportunities in the charts and how not to miss a single move. This I consider dangerous both financially and health wise as your mind is constantly disturbed by any surprising move.

[Hamphser]

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. 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.

Not all  would really be having that kind of patience on where they would just simply wait out for some recovery and this is actually self preference or choice of certain trader.

They have their own con's and pros and depending or according to your needs then its up to you on which path you would be taking on.Swing trader or active trader.

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.

Dont stress your self that much because once you had step your foot into this market then fluctuation is something you can see everyday.
Deal with it.

[Mistafreeze]

"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.

Honestly, it's never easy to be a trader, especially the trauma that one experience when money is going and one still believe that the market is going to turn up for good without having any doubt. The price of Bitcoin had really fallen to half of it value   and most investors who had lost a fortune from investing and trading Bitcoin are still patiently optimistic about the current situation of the market as at now.

Although trading is not only about making profits but having a rest of mind beating your chest that you have strived and now becoming an overcomer. Trading is live, is career not just something one dabble into just because of material gains, although we all see trading from different perspectives which is not really bad.

[Rengga Jati]

I don't know what exactly to do by other people here.
but, here are what I am doing to face this condition like what happening right now. I am also experiencing this, very dropped asset, not only on my BTC but also on all of the cryptocurrencies in my portfolio.
1. Use only free money, in which it is no big problem when the price is still dropped because we don't need that money in a hurry
2. I personally prefer to hold all coins including Bitcoin that I have during this dropped market price, no need to panic and cut loss because I am personally too late to cut loss.
3. Save and forget my assets until the market better someday, it may be better not to check our all assets that are dropped when in this kind of market condition, because the more we are seeing the assets dropped, the more stressful we will be.
4. Use some of them or several coins to stake or lock, but ensure that it is on reputable exchanges or problems because it is also risky.
5. Get another trading from another money, I am personally using the rewards from this signature campaign to start trading again. Although the market is dropped, it doesn't mean to stop trading, use every chance to get profits, if it is a loss, learn from the loss what strategy may be not appropriate to this current market condition.
6. Once more, Do not panic, we are all aware that the crypto market is full of stress moreover for our psychology. It is very normal to be sad or worried about the portfolio that we have been dropped. But, once more, if we are already in this crypto market, we must be ready with all risks, such as this kind of market.

Good luck guys, we can face this all situation.   

[blockman]

You just get used to it and don't be too worried about it because even if it plummets, time for it will come and it shall recover. Just like the quote that you've shared from Chow Yun Fat that you need to calm your mind. It's the first thing that you need to do if you do not want to think of bitcoin's fluctuation. Because it's already there and won't be gone so instead, we're the ones to adjust and we shouldn't think of it from time to time. You just check the price if you've been in profit and how much it is then you're good again to think of the other important things that you have to do.

[Cherylstar86]

Indeed bitcoin price falls at worst, but it did make learn more ways to battle emotions specially in times of failures. Though we badly needed money for our daily needs, and yet sacrificed all important expenses like celebrations and other enjoyable stuff in life. Our motivations kept us more eager to pursue every dreams for the future of bitcoin and other altcoins who've been part of our journey as a trader.

[bitcub]

"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.

Bitcoin is much bigger now. Price movement is a little slow. If we just know how to read charts, we can say that Bitcoin will go down and we need to hedge our investments in stable coins like USDT. Then we must be happy when Bitcoin is making consolidation because we can buy it again from a lower price.

They key here is to learn what we are doing. If we want to invest in Bitcoin , it is essential to know how trading works. If we want to have a restaurant business, it is wise to learn how to cook so matter what happened if you cooking staffs are not available, the business will go on.

[GreatArkansas]

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.

One of the best answers here is the famous quote "Invest what you can afford to lose"
To be honest, if you use the money that you can afford to lose and buy it Bitcoin or other cryptocurrencies, you can sleep at night without worrying about something.
The same application with trading too, you should know how RISKY trading is, that's why a lot of new in trading are ended up getting rekt and quitting very early.

[Lakai01]

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.

It's actually pretty simple: be convinced that the ATH will be reached again in the next 4 years and stack sats until then.

You can only have a problem with the high price decline if you have invested more money in BTC than you are willing to lose. Mentally, you have to write off the money as soon as you have bought BTC (or any other investment), otherwise you constantly calculate the losses/gains and lose sight of the big goal: to be one of those who can call at least a larger fraction of a whole BTC their own.

[iv4n]

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.

It's actually pretty simple: be convinced that the ATH will be reached again in the next 4 years and stack sats until then.

You can only have a problem with the high price decline if you have invested more money in BTC than you are willing to lose. Mentally, you have to write off the money as soon as you have bought BTC (or any other investment), otherwise you constantly calculate the losses/gains and lose sight of the big goal: to be one of those who can call at least a larger fraction of a whole BTC their own.

It is simple, if someone believes in new ATH, stacking sats until that day comes sounds like a good plan! The problem appears when some people wish to stack more and more (greediness) and they look for risky actions that can bring more sats! It can be day trading or investing in the new projects...
For long-term investors, looking at charts daily, and as you say Lakai01, calculating the lose/gain ratio can be a real headache... you will be in a constant dilemma about what to do, should you buy/sell/short/scalp... while the easiest thing should be investing and forgetting about your investment for a longer period! It would be nice if you can add more money from time to time (when some dip comes)!

[Wexnident]

Just don't look at the market, I fully trust Bitcoin would bring me profits, just not in the immediate long term. I guess that's why I'm more content with peeking at the market every now and then only instead of back when I was new, where I was looking at it every day. Switching from trying to do day trading to long-term investment made me get a huge breather and let out that huge source of stress that I always get. As for investments, well I DCA every month so it doesn't really hit me that badly. It's rather light on the load even tbh.

[aysg76]

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.

We have seen more than 80-85% crash or downward trend in bitcoin prices so these 40-50% price fluctuations you are referring to don't even bother long term holder and they know this time it will grow even more with great surge so just waiting for that time to hit the market exactly.Just watch the charts and you will see we have seen $1200 prices to falling to $86 in 2013 and still we are at $34k now so thinking this if your mind feel burden or pressure then you should sell btc and leave the market because this is not for the faint hearted people and who holds will enjoy in future.

[michellee]

I like that quote and I agree with that. That is a psychological factor that makes us watch the price moves, which is happening to many people. But in this matter, we can learn how to manage that factor and calm down to see the volatility of bitcoin prices. Every investment has a target goal that we can achieve but if we do not have a goal to sell bitcoin, we will not make a profit. The bitcoin amount we have will still be in the bitcoin form, but you can make a profit and enjoy your profit if you have a target price to sell.

I will not always check the price but I will do periodically and if I see the price is good and I am okay with the profit that I will get, I will sell it and not trying to wait for more because there is no guarantee the price can still increase. If we can manage ourselves in trading or investment, we can feel satisfied with the profit.

[Questat]

"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".

I definitely have to agree with you. It is a matter of how we manage ourselves in the situation where our emotions have been tested and badly affected, somewhat like in the bear season. It is really hard to be perfect (nor that was possible), some circumstances are we mostly bothered by our emotions, fears, and anxiety. We often become negative when experience losses and regrets, and sometimes be positive when we gain profit.
And why these all things happen because we live as human beings, not a robot.

[Lakai01]

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It would be nice if you can add more money from time to time (when some dip comes)!

There is actually a fairly simple solution for this: DCA.

You always buy the coin of your choice at fixed times (e.g. every Monday) for a fixed amount (e.g. 50$). So neither short-term nor long-term fluctuations matter to you, sometimes you get more coins for the same amount, sometimes less. You will never catch the bottom, but most likely you will not buy at the top in full FOMO.

[slaman29]

"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.

Usually, in my experience, people who give out quotes like that have a lot of money. Which keeps them calm and collected of course! I mean, if you've never struggled or worried about rent or had no parents to ask money for, easy to be calm;)

But yes, of course the point still stands. People always underestimate crypto even with long cycles of history to show them how volatile and cruel it can be. Enter at your own risk. And risk what you can afford to lose.

[dotcoin.info]

Why do something about it? I think that all veterans of this forum understand that bitcoin has the properties of both growing and falling, and falling quite deeply.
To buy bitcoin and get upset after the price has not gone up is rather stupid and naive, because it cannot and will not grow constantly, these are cycles of growth and decline.
There has not yet been any growth without correction, then what's the point of worrying? You can only worry if you bought it at the peak points of growth, then you fell for FOMO.

[carlfebz2]

-snip-
It would be nice if you can add more money from time to time (when some dip comes)!

There is actually a fairly simple solution for this: DCA.

You always buy the coin of your choice at fixed times (e.g. every Monday) for a fixed amount (e.g. 50$). So neither short-term nor long-term fluctuations matter to you, sometimes you get more coins for the same amount, sometimes less. You will never catch the bottom, but most likely you will not buy at the top in full FOMO.

If your budget is just really enough for that amount then you can definitely take control of yourself because if not then its hard to maintain a certain amount specially if you do saw that the value is really cheap

or shall we say you can earn more tokens because it is on potential bottom or we can simply say that you are seeing opportunity this is why fixed terms is really hard to follow and does depend on strict self control.

Actually i had done this but your emotion will really be a big factor and this is why proper planning of funds will really matter on this situation.