Rollercoaster of emotions. How to deal with?

[highalch]

It's always been a psychological game.

They make you fearful, thrilled, then pump, dump, shake you out.

The general advice that has always worked is:

- do not do any intraday trading, especially not with leverage
- do not be super focused on daily crypto news
- live your life and think on long term
- invest only as much that doesn't make you question your sanity every night

[bluebit25]

Hey everyone, I've been grappling with a question lately and would love to get your thoughts. How much of my monthly income should I realistically invest in Bitcoin, considering the emotional rollercoaster of the crypto market?

I understand the potential gains, but I'm also thinking about the stress of watching the market's frequent ups and downs. Seeing those price fluctuations can be a real thrill ride – exciting one moment and nerve-wracking the next. So, what's the sweet spot? How do I balance a smart investment percentage without getting overwhelmed by the market's volatility?

Would love to hear how you all manage this balance. I already have some amount invested, but way less than I'd like to have, but I have that fear of being put on risk more than I should.

Like many pieces of advice I give to those new to this market, if you want a lasting profit, invest in knowledge of the field you want to research first. And in a field that includes finance and technology, ask yourself how do you define investing?

Frankly, are you willing to lose money on this, do you prefer a painful experience or enjoy the comfort of a specific plan? There may be many tactical suggestions, but you need to understand that this is a personal plan not for the crowd and not everyone can follow a strategy. Don't be too hasty with the appeal of the emerging market. Yes but can't see the risks. I like the balance between risk/return in the investment process, so by learning and experiencing including failures will help you be more independent than dependent. If possible, I think the salary will help, tt is reasonable that you are willing to lose 5% monthly to access this market.

[hd49728]

Like many pieces of advice I give to those new to this market, if you want a lasting profit, invest in knowledge of the field you want to research first. And in a field that includes finance and technology, ask yourself how do you define investing

With Bitcoin market, investors will have to learn about Fundamentals, Technical Trading and they have to learn more than that.

How to store their bitcoin.

If they store their bitcoins in accounts on centralized exchanges, I wish them best and hope they won't lose their coins on CEX.

Reminder: do not keep your money in online accounts

When CEX has a bankruptcy, if they make compensation, they will pay you in fiat currency and don't care about how much does Bitcoin cost at the time they bankrupted and at the time they pay you in compensation.

Mt.Gox, FTX filed documents to pay their users with very low price of Bitcoin years ago and in 2022. Imagine you store 1 bitcoin on FTX in 2022, and now if they compensate you, you will receive like 1/3 bitcoin because Bitcoin has good rally from its bottom in 2022.

Painful.

[yudi09]

Hey everyone, I've been grappling with a question lately and would love to get your thoughts. How much of my monthly income should I realistically invest in Bitcoin, considering the emotional rollercoaster of the crypto market?

-snip-

If your financial condition is that you already have children and a wife, then the appropriate amount for you to invest is the amount remaining after the family's needs are met.
If you and your wife have income, then arrange it by having a discussion with your wife to determine how much will be allocated for Bitcoin investment.

Profitable investment lies in the type of long-term investment that is carried out regularly every month.
Because the crypto market is very volatile, don't worry when prices experience a price drop like what happened yesterday.

[Obari]

Well the cryptocurrency industry is a risky one especially for those who are scared  and since there isn’t any specific amount expected to be invested, I think you should only invest what you can afford to loss as I mean nothing is guaranteed in the industry and as such you should be responsible for every action you take.
I love your caption which already proves you’re already aware of the risk involved and you shouldn’t be focused more on the profits but rather work on strategies that will limit your losses and just as others have already told you, you should always make sure you only invest money you can afford to loss.

[mirakal]

It’s normal for a newbie to feel like that, having the fear to lose and to overcome roller coaster emotions due to bitcoin’s volatility. But believe me, experience will help you manage your emotions and live life with balance. If it means losing at first also you will have something to learn, then so be it, face your losses but still continue to invest while harnessing your knowledge and skills. And invest within your means, like 3-5% of your monthly income so that if things do not go based on plan, then losing your capital won’t be a big issue for you.

However, know that emotions become our best enemy when we invest or trade. It’s really hard to control our emotions most especially in times of winning or losing, but having often exposure on the market, you will learn to slowly control your emotions so you can focus on your goal or target why you invest in bitcoin in the first place.

[RioBlemz]

Hey everyone, I've been grappling with a question lately and would love to get your thoughts. How much of my monthly income should I realistically invest in Bitcoin, considering the emotional rollercoaster of the crypto market?

I understand the potential gains, but I'm also thinking about the stress of watching the market's frequent ups and downs. Seeing those price fluctuations can be a real thrill ride – exciting one moment and nerve-wracking the next. So, what's the sweet spot? How do I balance a smart investment percentage without getting overwhelmed by the market's volatility?

Would love to hear how you all manage this balance. I already have some amount invested, but way less than I'd like to have, but I have that fear of being put on risk more than I should.

Rule 1- Always Invest what you can loose

Bitcoin is profitable for Hodlers i.e Those that buy and keep it for a longer period of time. So the thing is that you should buy low and sell high. They are timely event that for BTC this year 2024. This include ETF, Halving etc. So by speculation BTC will end high.

Rule 2- After making your analysis allow the market to play out

If you keep checking chart, you will always make hasty decisions.

Rule 3- Be Patient