Please is long I'm trying to learn about crypto generally but I don't seem to understand most things as if am left out. I leant that even though crypto market is going against you can still make gain out of the situation because to me am only experiencing lost and depression. Please what do I do whenever the market is experiencing deepening? Is there a way to reverse your trade or investment at that point that will make you gain instead of lost?
Note this OP- Due to the market's volatility, losses are part of the crypto journey. So you should not feel bad or get weighed down by this loses but rather learn from your loses, then practice risk management and move on.
Now back to the question you asked. Am no psychologist, but based on how you sounded in your post here is what I advise you as a friend to do for now....
1. Take a break for now be it one month, two month or so, just any one that will work for you. The reason for this is that the market isn't going anywhere, and remember your mental health is more valuable than any coin whatsoevoever.
2. After taking the break, try to refuel your understanding of cryptocurrency you can start from the beginning if possible, you can get a demo account, and practice trading, you can even learn from YouTube if possible or buy courses, just ensure that your knowledge is properly reignited before entering back into the space. In addition to this have a trading mentor one who you can freely speak to or ask any questions when the time comes, cos it not every time you have a question that you come to the forum to ask.
N.B:After implementing the first and second step just know that you are be ready to continue you crypto journey.
3. Before entering into any project, try and learn about the basics of the project. Eery project has a whitepers and in most cases a community so make use of them to better understand a token and the problem it aims to solve. Don't be in a rush, take your time to learn.
3) Focus on Bitcoin accumulation course it's very promising rather than day trading or short term trading. One thing about short term trading is that it requires experience and emotional control which many beginners may not have.
4. Make use of Dollar Cost Averaging (DCA) Strategy. This means that you should focus on investing a fixed amount regularly instead of going all in at once. It helps reduce the impact of volatility as well as the anxiety during market downturn.
With this you are good to go, just know that we are here to help out in case you have any other issues along the way. Better days ahead.