First, take a deep breath, have no emotion, a peaceful soul, unwavering character, a clear head, etc. It's not about me or any other person, I believe, and most definitely not about trading!
You may go have a cup of coffee or unwind in a spa and have a peaceful soul only once you have a clear picture of the price movement, its direction, and the profit target.
Because the profit target will be reached, your position will be closed, and you will receive your profit.
And this time eventually will be inevitable if you put in efforts day to day. As I said, the probability is too high! Trust me!
Until then, you are still learning, and as such, you will continue to learn by reading news, testing techniques/strategies, watching video courses, following your favorite trader, inserting your trading data with analysis and summary, tracking your progress, and continuously watching the chart until you close your position with a profit or a loss.
See the emotional spectrum that a normal trader experiences as they analyze or watch price movement. This is a classic example of typical trader behavior that can be utilized as an additional tool to predict price movement.
I advise, don’t trade when you are feeling euphoria, and do not trade when you are feeling depressed. As you trade, use this chart to assess your emotions.
Second, there is a fear of missing out on something, such as price movements or a promising cryptocurrency or the next Bitcoin! My approach is to employ the
#CE (cost-efficient) method and the
#SFIS strategy. This will enable you to avoid investing a significant amount of your funds in assets that are weak or lack growth potential and to test your decision, meaning you can keep an eye on the asset's performance, whether it's rising or falling. Similarly, if you are trading, open a position with a little amount of capital if you can't stop yourself from entering the trade while you're feeling euphoric or depressed. This is really helpful.
Third, as an investor, you are constantly searching for ways to profit, aren't you? And as such, the first thing you should always consider is what risks you take on a given contract and what your return on investment is. Before you take any action, you should have the answers to these two questions!
Traders typically advocate a risk/reward ratio of 1:2 or 1:3, as well as a 10%-30% ROI on their investment portfolio. In the crypto world, however, these are hilarious!! You can make up to 1000x times your money here. That is why crypto trading and
#CryptoAssetsInvestment are so alluring and such a "crazy" environment!!! And, of course, the opposite of those high profits are undoubtedly the same losses.
As a result, this post serves as a reminder to you once more to take care of yourself, that is, your well-being and your capital, and to strictly adhere to the Golden Rules of trading (see my previous post about the
#GoldenRulesOfTrading ).
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