When the market dumps, the same fate hit the sentiment of the people that are directly involved in it with open investments: all those emotions that are associated with a bull market and growth in general (excitement and confidence) gets crushed, leaving room to anger, disillusion and even depression.

In this context, looking for excuses is the worst behaviour that a trader can have, ending to make emotionally driven decisions instead of rational choices. Inexperienced traders especially tend to externalise the causes of their losses in an attempt not to hit their ego, ending to identify major events like SEC, futures market, Spoofy etc. as the main reasons behind the general wreckage of their unmanaged portfolio.

Here are some tips that may be useful to prevent to approach these hard market phases :

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Books will always be better than Twitter. Static knowledge is emotionless and fear-poof. Some of my favourites:

There is no need to trade every single day or week. Overtrading will generate losses. You will make 80% of your gains during bull runs. During the rest of the time, the focus should shift to capital preservation.
Be humble; not as a way of life (there is no need to go on with the slave-moral heritage). Be humble with yourself, instead. Discover your limitations and design a strategy accordingly.
You dont need always to be up with every tiny detail of the price action. There is nothing wrong with reading charts. Just make sure to remain ﬂexible so you can respond promptly to any scenario. Many people are obsessed with being updated with the price action in every candle of every single timeframe. But sometimes the scene is uncertain, and thats it. There is no need to risk your capital on a weak trade.
Dont invest more than you are willing to lose. Its a very well known mistake, still hitting a good chunk of people anyway. Trades must be opened and closed when the right times come, not just when you need money. The market isnt tailored to your needs.

I spend like this to get where i am Now.

TonyMillsCryto

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