Psychological Tips During a Bloody Market
Market corrections are common, but they can affect your psychology. Here are some tips for managing stress:
1. *Stay Calm*
Understand that corrections are a natural process in the market. A healthy price structure requires corrections.
2. *Don't Obsess Over PNL*
Don't focus on temporary losses. Find other activities to distract yourself and reduce stress.
3. *Avoid Mental Accounting Bias*
Don't view losses as buying opportunities. Focus on the process, not the outcome.
4. *Strengthen Conviction*
Remember why you bought the asset. Strengthen your conviction by studying whitepapers, research, and the community.
By following these tips, you can manage stress and make wiser investment decisions.
