Quote from: FortuneFollower on September 09, 2024, 06:03:18 AM

Quote from: hugeblack on September 09, 2024, 03:24:46 AM

One of the biggest mistakes in a bull market is to control emotions. Some people make a logical analysis that they will sell at a certain level, and when they reach that level, they find that all the news in the market is positive and that Bitcoin can reach $150,000 or even $200,000. Then, instead of just making a profit, they wait for those levels until the price correction begins.

Is it a mistake to control your emotions, though? Grin

If a person is in a situation he described, he wouldn't be tempted to hold until the price X, simply due to him having a plan in the first place.
But that's just my point on it.

Of course not but it is actually a good thing at most times. I say most times because I think there are still some scenarios where we should not do it. One example that I can think of right now is when we are confessing our feelings to the people that we truly love because if we don't do it, we will be among to those who are regretting eventually that their loved ones have now found a new partner.

Now, on the situation that he described above. You got a point there but there are still people who are not yet very strong when it comes to commitment, especially when @hugeblack said that their emotions have been fuelled up evenly. For instance, in cryptos it is when the market is having a positive sentiments.

We can't predict the crypto market, so even if we have a plan, we might still be wrong and then those who didn't abide their plans will be glad that they did it because it made them to earn more profits. There is no assurance on it though, so it is still or always better to be safe. However if it was only Bitcoin is the coin that we choose, there is still a chance for it to recover. So if in case we missed the happy hour, we shouldn't despair too much.