Quote from: crzy on February 03, 2023, 09:23:51 PM

Quote from: virasisog on February 03, 2023, 05:51:26 PM

Trading is always accompanied by fear but we should know how to deal with them. It's fine to feel afraid at times because we know that the possibility of losing will always exist in trading. What we should avoid as much as possible is the fear of missing out because it might only lead us to wrong decisions which can result in regrets later on. Those who fear being missed out are those who usually listen to what the majority say or do without even doing research first.

Being too emotional in trading might be more risky, you have to set-aside this and focus on the goal that youve set. Fears are normal but treat that one positively so you can know what to do and how to overcome the pressure of the market. FOMO is not good, it looks like you are being hyped without even analyzing the market, as a trader its your job to analyze so dont get tired of it.

True, emotion cloud a person's mind and reasoning. Emotion also triggers greed, FOMO when the market is moving too well, and panic selling due to fear of lossing when the market collapse. Fear and excitement are the factor that always affect the situation if a trader is poor in handling his emotion. We must learn how to control them if we can't shut them off.

Quote from: GreatArkansas on Today at 01:18:45 AM

Quote from: thecryptogandalf on February 02, 2023, 12:55:26 PM

4. Stay focused on the long term

This is the most common mistake of new traders in the market. Some of these people intend to trade because of hype or market condition, for example, if we have a bullish market or bull run, that's the time they only trade. Or another example is they tend to stop to trade after how many losing trades.
It just sucks because sometimes they are blaming cryptocurrency or they are telling cryptocurrency is a scam because of their losses.

There are successful short term trader. I think deciding for a long term or short term are all depends on the situation. A tradee must learn to be flexible, single focus is good but what if it isn't working as expected? We must learn to adjust and retarget our goals.