PSYCHOLOGY when investing in crypto is an extremely important factor, and the reason I state this is that this market can easily make you influenced by emotions due to THE FOLLOWING:
1. Seeing the price rise quickly and USDT not buying anything —> afraid of missing a good opportunity leads to jumping into the market immediately.
2. The price is too stagnant and the increase is insignificant, and I see another coin skyrocketing —> afraid of falling, I immediately switch to that coin. After switching, the original coin rises strongly.
3. When the price starts to drop, quickly sell or close the order to avoid further losses or panic.
Below are effective WAYS TO NOTE to control psychology and maintain discipline:
1. Have a plan before entering an order with a main coin ——> do not copy or enter an order without researching.
2. Do not FOMO
3. Do not rush to sell at the bottom
4. Keep an investment/trading journal to see if PNL changes and how effective it is?
5. Manage capital to avoid borrowing more.
6. Calculate time zone – avoid market addiction (see my previous article).
WISH YOU GOOD LUCK. #BinanceAlphaAlert #WhaleMovements
