The best way to handle your emotions in this crypto space

[oktana]

I’d say to handle your emotions in the crypto space, it’s a must to educate yourself, set goals and diversify your portfolio (to minimize risk). Emotional detachment also comes into play (stay informed but not consumed). Focusing on long term can also helps. If this principles are combined, I’m pretty sure one would be able to manage their emotions and make knowledgeable investment decisions.

[Botnake]

Emotions could sometimes go unbearable. So in order to avoid that, let’s just be realistic here. Know yourself deeply if you are actually ready to invest or not, because accept it or not, losing will always be painful, even if we say invest what we can afford to lose. As long as we lose even a small portion of our hard-earned money, that is really frustrating on our part. My point is, don’t just invest what you can afford to lose, but invest only when you are ready to lose.

[LDL]

You may be right that there still some panic but in my opinion, it is a bit different since a person didn't invest all of their money because they invested what they can afford to lose so even if they did lose but they still have some money left that wasn't spend to buy coins. After all, the amount invested is what you can afford to lose compared to investing all the money you have which means the result will be different.

Controlling emotions in the crypto space is very difficult, especially if someone is holding all their life savings in Bitcoin, then how to control their emotions is a very difficult challenge. Many people, in the hope of making extra profits, hold onto crypto instead of keeping their money in the bank. In their case, it is quite difficult to control their emotions once the market collapses.  There are also many people who invest in Bitcoin, inspired by someone in some way or another. If they suffer losses due to unexpected reasons, it is very difficult for them to control their emotions.

[bitzizzix]

Knowing yourself well is a must before we dive into cold investments like crypto especially in terms of emotions, and the first thing to understand is that volatility in crypto is inherent and must be faced and if we are not comfortable with volatility and are easily emotional, realize that the crypto industry is not the right place for us and if we continue to do so then we must accept the consequences.

And using money that can afford to lose is a way to avoid when emotions are involved but as much as possible and keep trying not to let it happen and must try to educate yourself to have the ability to control it and do it for the long term to be able to avoid emotions and volatility and instill strong beliefs and also keep trying to instill strong patience in ourselves because I believe that experience, effort and always learning all exist, with discipline and also having good financial management I am sure that over time everything will be fine and always taking a deep breath and slowly three times when the situation makes us emotional can help calm ourselves which must be helped by the existing consistency.

[john_egbert]

Emotions could sometimes go unbearable. So in order to avoid that, let’s just be realistic here. Know yourself deeply if you are actually ready to invest or not, because accept it or not, losing will always be painful, even if we say invest what we can afford to lose. As long as we lose even a small portion of our hard-earned money, that is really frustrating on our part. My point is, don’t just invest what you can afford to lose, but invest only when you are ready to lose.

Yeah, many out there can't bear the thought of any loss, really - it's all about green for them, and no red at all.
Even when you hodl - red is normal, because the market doesn't only go up, it fluctuates, like the ocean.

[Nothingtodo]

I’d say to handle your emotions in the crypto space, it’s a must to educate yourself, set goals and diversify your portfolio (to minimize risk). Emotional detachment also comes into play (stay informed but not consumed). Focusing on long term can also helps. If this principles are combined, I’m pretty sure one would be able to manage their emotions and make knowledgeable investment decisions.

If someone invests knowingly, then there is no point in controlling their emotions because they have invested knowingly, knowingly, that it is risky. However, if someone is sufficiently educated and understands the causes of loss and its importance in the future, then he will definitely be able to master all the powers of emotion control.

[Rustam Meraj]

Knowing yourself well is a must before we dive into cold investments like crypto especially in terms of emotions, and the first thing to understand is that volatility in crypto is inherent and must be faced and if we are not comfortable with volatility and are easily emotional, realize that the crypto industry is not the right place for us and if we continue to do so then we must accept the consequences.

And using money that can afford to lose is a way to avoid when emotions are involved but as much as possible and keep trying not to let it happen and must try to educate yourself to have the ability to control it and do it for the long term to be able to avoid emotions and volatility and instill strong beliefs and also keep trying to instill strong patience in ourselves because I believe that experience, effort and always learning all exist, with discipline and also having good financial management I am sure that over time everything will be fine and always taking a deep breath and slowly three times when the situation makes us emotional can help calm ourselves which must be helped by the existing consistency.

Before we start know ourself and how we feel about uncertainty. If  we get emotional easily it might not be good idea. To do well only invest money we can afford to lose otherwise it will cause problems in future. Also learn to control our emotions it will help us to make good decisions or secure us from bad decisions. One more thing which is important is money management.
We should keep in mind that experience and learning are important. When we feel emotional we should take deep breath and think carefully. With time and practice we will get better at handling ups and downs of market.

[Rockstarguy]

I’d say to handle your emotions in the crypto space, it’s a must to educate yourself, set goals and diversify your portfolio (to minimize risk). Emotional detachment also comes into play (stay informed but not consumed). Focusing on long term can also helps. If this principles are combined, I’m pretty sure one would be able to manage their emotions and make knowledgeable investment decisions.

Understanding makes everything easy, it s important to educate yourself about the crypto market and to also educate your on the amount of money you can afford in every investment, educate yourself on the right coin to invest. Emotions occur as a result of lack of self education. When people are lacking understanding,  they will definitely make mistakes and which can cause emotion.

To avoid the issue of emotion it will be good to understand everything about bitcoin and cryptocurrency, it will help in preventing one from making mistakes which can lead to emotions.

[leonair]

The sentiment of CZ has said it all.
Most Investors or traders don't know that investing a money you can't afford to do away with or money they can't afford to lose is the exact thing that makes you panic either as an investor or a trader, because as humans that we are, at some point we will always display emotions even though we really believes in Bitcoin, because their is a dip just as this current dip that might shake your confidence, which might warrant you to sell in panic, though newbies investors mostly are the ones that normally does that but even as a veteran in the the crypto space, if you invest or trade with what you can't afford to do away with or what you can't afford to lose, your emotions may get the better of you when the volatility of the market is in full display as this present one, and CZ who has the largest crypto exchange (Binance) has practically said it all in a summary, which I 100% agree to, because all he said is true.
So let's try to invest only what we can afford, so as not to be easily shaken by volatility in the market.

Who is short term investors they visit the market and tracked there holding coin price frequently because there intention is to sell there holding when they will get 10-20% of profit but when there coin price drop more then 10% they get panic because it is drop 10% which was there profit intentions.

Always a long term trader win on crypto investment. because they always invest there Idle money which is not required for their daily expenses.  And they have no problem if they lose. Because they are not too worried about their holdings.  So it is very easy to control their emotions. But short time investors and day traders can never control their emotions.

[Slimzeee]

I believe the rule of “investing only what you can afford to lose” is the best advice ever. Regardless of your level of understanding of Bitcoin and the crypto space, there’s always a chance that your investment might not turn out as expected. Interestingly, this might not even be due to a miscalculation on your part. After all, what goes up must come down, it’s a universal law. We just hope to have more gains than losses.
The best approach is to manage your expectations, conduct thorough analysis, and accept that some factors will always be beyond your control. And above all, invest only what you can afford to lose.

[aylabadia05]

The sentiment of CZ has said it all.
So let's try to invest only what we can afford, so as not to be easily shaken by volatility in the market.

If you are afraid of losing money, don't invest in crypto but in stable assets like gold.
Investing in crypto can end in losses due to unpredictable price fluctuations.
Basically, it is very easy to know if you have the intention to learn it, but it is difficult to apply it when you have acted.
CZ is a rich person who is famous for something that is familiar to many people so that what he says feels all true.

[Obim34]

Emotions could sometimes go unbearable. So in order to avoid that, let’s just be realistic here. Know yourself deeply if you are actually ready to invest or not, because accept it or not, losing will always be painful, even if we say invest what we can afford to lose. As long as we lose even a small portion of our hard-earned money, that is really frustrating on our part. My point is, don’t just invest what you can afford to lose, but invest only when you are ready to lose.

Since this is Bitcoin Discussion board all we speak about as an asset is Bitcoin, I don't see a reason when specifically dealing on Bitcoin why we have to invest what we are capable of losing, we are not trading the asset if it goes in as investment, you don't loss when you invest in Bitcoin, only that volatility will definitely take it course which the amount invested will fall but In due holding begins to make progressive come backs given the investor profits on the actual amount.

Bitcoin investment has no loses, get detached from such mindsets, traders or investors on other cryptocurrency are the ones scared of their funds each time they make any investments, Bitcoin investors has their mind based on facts solid.

[lixer]

Controlling emotions in cryptocurrency is an art.  Among them, the greater the ability to control emotions, the more he will benefit from crypto currency. Investing and holding in cryptocurrencies is very risky.  In this risky investment some may gain and some may lose.  In both these cases, those who can control their emotions or feelings are successful

Controlling your emotions might not make you successful all the time, but it can surely save you from excessive losses sometimes because people often panic and sell their positions or assets when the market is dropping even if the drop is minor but they sell early and lose money, but after a while, the market starts going back up and then they realize that they've made a mistake and that they should have stayed patient.

Having enough knowledge about the market is important for this reason because when you have knowledge, you know that this is very normal for such a market to have small corrections every now and then, and it eventually recovers and nobody is losing money except those who panic and sell at a loss.

If you are patient enough to endure through the small dips and corrections and don't get worried as soon as you see a red candle, you will most likely have less losses in such a financial market which is extremely volatile.

[Hazink]

Emotions could sometimes go unbearable. So in order to avoid that, let’s just be realistic here. Know yourself deeply if you are actually ready to invest or not, because accept it or not, losing will always be painful, even if we say invest what we can afford to lose. As long as we lose even a small portion of our hard-earned money, that is really frustrating on our part. My point is, don’t just invest what you can afford to lose, but invest only when you are ready to lose.

I agree with you, losing is very painful no matter how small that money is; as long as you made that money and you invested it in something with the hope of getting profit or even your asset back, it will leave a pain in your heart, and you need to be emotionally strong before you can pull out from that pain real quick. The only difference between those who invested big and the person who invests what they can afford to lose is the time frame it can take to get over that loss.

[AmaGold70]

For beginners in crypto investment I often advice them to start with the amount they can comfortably or afford to lose because of the emotional trauma attached in holding Bitcoin (I don't always check how the market is doing and that has helped me keep my emotions together) CZ's advice on how to invest is highly appreciated, no matter that how confident we are in Bitcoin it's essential to put in what we can afford to lose just to be on the safe side

[kotajikikox]

So let's try to invest only what we can afford, so as not to be easily shaken by volatility in the market.

This might be quite discouraging for some investors since they are not extremely wealthy. Some people would only be able to make significant profit if they do spend a little more than what they can. This is the risk that we talk about. To be honest, I think investing a little bit more than what you can afford is okay as long as that you do not risk all of your wealth. Make sure that you can still survive even if you lose some in your investments but enough that you can make good profit when you get it right.

[fikrett]

So let's try to invest only what we can afford, so as not to be easily shaken by volatility in the market.

This might be quite discouraging for some investors since they are not extremely wealthy. Some people would only be able to make significant profit if they do spend a little more than what they can. This is the risk that we talk about. To be honest, I think investing a little bit more than what you can afford is okay as long as that you do not risk all of your wealth. Make sure that you can still survive even if you lose some in your investments but enough that you can make good profit when you get it right.

It's about persistence and consistency, rather than about the amount of funds.
Surely, it's possible to invest more - but only if you do have your analysis done right and patience set up.

[taufik123]

-snip-
To be honest, I think investing a little bit more than what you can afford is okay as long as that you do not risk all of your wealth. Make sure that you can still survive even if you lose some in your investments but enough that you can make good profit when you get it right.

Then it is necessary to have the right management for the money used on trading or investing in crypto because without good management the amount you spend can exceed the maximum limit of the assets you have or you use everything to enter crypto.

Distinguishing money for basic needs and for investment needs really has to be separated.
I myself do such management so as not to interfere with my personal life, not to stress me when the market goes down and of course the money for living needs is still sufficient.

[SuperBitMan]

For beginners in crypto investment I often advice them to start with the amount they can comfortably or afford to lose because of the emotional trauma attached in holding Bitcoin (I don't always check how the market is doing and that has helped me keep my emotions together) CZ's advice on how to invest is highly appreciated, no matter that how confident we are in Bitcoin it's essential to put in what we can afford to lose just to be on the safe side

Yeah you are right, it is better one invest with money he or she can afford to lose that is using only discretionary income to invest, we all know what discretionary income is if anyone don't discretionary income are income or money that is remaining after deduction of taxes, mortgage, and basic living costs from your monthly or weekly salary the remaining money lift after settling all these is your discretionary income, now if you are using only your Discretionary income to invest it won't affect you it will keep your investment safe but if you are not using only your Discretionary income you will always be tempted to dip hands into your investment to settle some things, some set of people because they want to rush and build up there investment they start investing aggressively and even using money they are suppose to use to pay bills to invest which will later lead them to having financial issues and in other to settle that financial issues they then dip hands into there investment, so if you are going into investment in the crypto space you need to invest using only your Discretionary income or money you can afford to lose.

[Bryan jessy]

There is this proverb that says, do not lend someone any amount of money that normally you can not offer it out for free. Lend only the amount you are not afraid of loosing, since you are skeptic about investing in Bitcoin then try with lower investment until you become familiar with the process and how the system works.

Life itself is a risk so at times we just need to take some risk and be optimistic about whatever we are engaging in.