Psychology of a Market Cycle for Crypto Currency and Trading Newbies.
Source
Community Public Service Announcement for Crypto Currency Newbies.
I am seeing many people talking about buying Crypto Currency based on emotion rather than logic. Learn how to take your emotions out of trading.
Please take 90 Minutes and watch the video at the link. Psychology of a Market Cycle
If you are new to Crypto Currency trading this will be the best 90 minutes you will ever watch.
I don't know why the concept of "buy low, sell high" is so hard to understand. The point being if the the value for whatever you have bought has plummeted (particularly if it drops below what you bought it at), then it is already too late and obviously not the right time to sell. You might as well take your chances and wait for it to bounce back vs. panicking and selling.
As far as cryptocurrencies are concerned, I don't really have money to invest in them so all I have invested are computer resources for mining and my own time participating in this platform. From my point of view it isn't the right time to sell until and unless I end up accumulating a life altering amount (or I'm making enough on a daily basis that it makes sense to cash out part of it on a regular basis as an income). I figure I'm better off sticking with the cryptocurrencies I have an interest in (currently bitcoin, steem, gridcoin) vs. selling and speculating on ones I'm going to pay less attention to. But then I don't invest for a living :)
I made a brief technical analysis of Bitcoin today.
For people looking for a good entry.
https://steemit.com/bitcoin/@sjovmaiin/bitcoins-inevitable-retracement-the-top-is-in-for-now
Please dont flag for spam not my intention just wanted to be helpful.
Ha! I was just thinking on this earlier! I figure the Bitcoin surge is just about to enter the complacency stage.
Of course explaining this to people that don't use crypto is an exercise in sheer frustration.
Cool bro. please share some more info on expat living, like how to live in a different latin american country... :)
Do you ever go into ICOs and how to approach pitching an ICO to a lay person?
Not anymore, I stopped participating in them because I profit more by trading than I would letting someone else hold my BTC for a potential profit.
nice post :) look also at this post :
https://steemit.com/cruptocurrency/@vbnm21/free-mining-free-coins-free-eobot-com
nice post :) look also at this post :
https://steemit.com/cruptocurrency/@vbnm21/free-mining-free-coins-free-eobot-com
Awesome Blog! =]
Thanks for sharing, looks like a highly educational video! Gonna check it out later on today!
I am very happy you shared this today after this epic bull run in crypto that has taken us up to the stratosphere. The market is full of cycles like these. People need to understand now they risk they most. Buy low sell high sounds so simple but in reality its a totally different mentality.
Love that chart!