ADVICE FOR NEW MARKET PARTICIPANTS!!!
🔥 1. This is sincere advice from an experienced trader. For those who are just starting.
The reason I often talk about CAPITAL MANAGEMENT is because I know many of you have not experienced the feeling of 'bankruptcy' of the account, losing money without understanding why, losing faith in the market...
👉Therefore, my advice is: Divide your money into 5 parts when participating in the market.
Take 1 part and see it as the only money to participate in the market. (Forget about the other 4 parts)
👉- Deposit money into your account and invest freely. Play like a human who wants to invest.
You will experience 2 feelings:
Excited about making money easily, the market is so good that just holding a phone can make money... To the point that you think about dropping out of school, quitting your job to focus 100% on trading.
Experiencing feelings of fear and confusion when losing all invested money along with interest.
👉I’m sure that once you haven’t fully understood. So, take another part and continue investing. Then, you will experience the same story as above.
I hope that after a few experiences, you will understand more clearly. Please read again about capital management and try to adhere to it.
Many people only advise you but do not guide you on how to do it. This is the most proper way to do it.
🔥 2. Greed: Gamblers tend to want to earn profits quickly and may not accurately assess risks in their trades. They may continue to invest even though they know the market is declining, just hoping that prices will rise again.
Psychology affected by the market: The Crypto market can change very quickly and dramatically. Therefore, investors may become more emotional and easily influenced by those changes. If prices drop, they may become anxious, uneasy, and may make wrong decisions based on emotions rather than accurate information and analysis.
High risk: The Crypto market is a very risky market, so gamblers may feel pressured to make decisions, especially in cases where they are losing money. They may feel pressured to make quick decisions without enough time to analyze information and understand the market.
Confidence and naturalness: Successful investors may become overly confident in their abilities and easily become gamblers, seeking new and larger trading opportunities without assessing risks. They may be seduced by previous success and believe they can make more money in the future.
Therefore, to become a successful investor in the cryptocurrency market, it is not only necessary to have knowledge about the market and analysis, but also to monitor emotional control.
#MarketDownturn #BTC☀
