The Emotional Smarts Crucial for Success in Crypto Trading
"Seest Thou a Man Dilligent in His Ways, the Bible Says, He shall Stand Before Kings not Mere Men."
The crypto space has been volatile before now and the funny thing here is that it will continue to be volatile because of how the market is, the influencers of market strategies and different laws guiding the market, so it will definitely be this way, but one thing that is inevitable here is that regardless of how the market is, many people are still making it real big. A minute is enough to change a thousand dollars in crypto to be $10 and further $5, and also the initial start up which was $1000 can still be $10000, that is crypto for you.
Attaching emotions to crypto has done many havocs in the minds of both newbies and old takers. Irrespective of the fact that currently now, robots occupy the most space when counting what and who is trading most in the crypto space which one can easily judge that they don't have emotions but then we are the ones that give the bots the instructions to follow. That someone's trade went from $1000 to $100 won't make the volatility of the market change and losses turn to gain.
Aligning and Understanding Your Emotions so as to Get a Better Result
The ability to reset your minds to be at rest as to be able to make informed decisions well judicious and profit making regardless of what the market says and has done to your trades aforetime is what I called overriding pain for pleasure and that's a high stake of emotion intelligence in the crypto space.
The best way to align one's heart, mind and brain as far as emotions is concerned when dealing with crypto is to not have emotions at all. When one have the emotions, the pity and thoughts of being scared in opening up another trade after a loss regardless of if the analysis of the market at that particular time is perfect will make one loose the goodness in front that the trade might bring.
There should be an understanding that nothing is guaranteed in the crypto space and that every trade regardless of how faultless the analysis is can also go wrong and make what was intended to be full of gains turn to be full of losses. The volatility of market most times tends to affect analysis and make a trade that was suppose to make multiple and continuous upward strokes become downward.
Whilst it's important not to even attach emotions to trades, it's far more better to make calculated moves, finding a way to mitigate looses, understanding what risk management is and also practically studying a trade before going all in for it could be an antidote, it is important for one to risk what one has the ability to loose.
Finally, keep emotions outside, do your due diligence, practice demo's, test your patience with Demo's before going into the real deal. Crypto can be funny sometimes, but an understanding mind always win in the space. Thanks for stopping by, do have a nice day.
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