Ninjastic
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Re: Things to keep in mind before accumulation of Bitcoin
by
Ahli38
on 15/09/2022, 04:51:13 UTC
⭐ Merited by JayJuanGee (1)
Quote from: AmoreJaz on September 13, 2022, 10:13:39 PM
Quote from: blockman on September 13, 2022, 09:54:58 PM
Quote from: Hamza2424 on September 12, 2022, 05:12:05 PM
3: Do not freak out:

One of the biggest benefit of long term investment is you don’t have to check market again and again. Thus you will face no tension. But to do that you have to build patience in yourself. Which you can do by not becoming a prey of FOMO (Fear of Missing Out).
FOMO, freaking out, panicking, these are the feelings that will never be gone to anyone. An old-time investor or a newbie will have to feel this from time to time.
Even if you're confident with the market, it's true that this feeling won't be gone. It will be there for a few minutes then it's gone again. Also me, still feels it but I'm not letting myself to manifest it and do panic selling.
i guess, that's a normal reaction of any investor in this market. but the difference is how each one of us decide on how to manage our portfolio. panic selling is common especially if there is terrible news going around. but if you are long enough in this market, you should know by now how to handle the situation to avoid huge losses. and this is when your belief in this market is being tested.
what you say is right. And indeed Panic is normal for all. But there is a difference between beginners and those with long experience with the market in responding to panic. Beginners when panic arises, the panic sometimes overwhelms their minds and logic. so that his mind became overrun with panic so that he could not think clearly. so that sometimes they sell out of panic without being based on logical analysis. even though they do the analysis, they still become more hasty in making decisions. so that more losses are felt by beginners. and that's only natural because everyone experienced in bitcoin trading and investing feels the same way at first. but over time the experience will strengthen the mental. so when the mental is strong. even if there is panic. will still be able to make wise decisions and continue to analyze without haste. people who speculate more than those who most often lose due to panic.