WHEN IN DOUBT, ZOOM TF OUT. It’s this emotional rollercoaster that causes 90% of traders to lose all their money and quit within 2 years.
What feeds into this?
❌Amateurs always buy at the wrong time. They buy at the top of the market cycle, when price is about to turn around and crash down. By this time, it’s already too late to get in. When price starts turning, amateurs get extremely emotional and upset at the losses that are racking up fast. They feel they got played because they saw everyone else making gains, how come they’re not?
❌Amateurs always sell at the wrong time. After getting battered down with sustained losses, they start rushing to sell at a loss just as the market is ready to rebound. When price starts heading up, amateurs get extremely emotional seeing the money they left on the table. While the smart traders bought the lows and the dips and are now taking the profit train upwards, amateur traders can’t stop feeling like they’re getting played and d*cked around!
This not knowing which action to take at the right time in the market coupled with a lack of mindset training causes traders to be extremely emotional in their trading journey.
HOW TO STABILIZE YOUR EMOTIONAL JOURNEY:
1️⃣ First, learn the basics! Learn about technical analysis, learn how to read charts, learn an actual strategy, learn from a mentor!
2️⃣ Then learn about human psychology in the markets, adopt a bulletproof trader’s mindset, and practice stoicism 🙏
3️⃣ ZOOM TF OUT. Stop looking at big huge candles on the 1min chart. They are not that big on the Daily or Weekly or Monthly 😆 Eliminate the noise on the small timeframes, relax.
4️⃣ HAVE A THESIS AND SOME CONVICTION. If you’re in crypto, you SHOULD be long term bullish (why else are you here). Remember this, and you’ll be much less reactionary or emotional 😉
P.S. If you’re ready to learn how to outsmart the short term degen moon boi apes, you’ll want to attend my exclusive FREE TRAINING WEBINAR on my “Crypto Surf Strategies” where I highlight the exact things traders do wrong, when they do it, where they do it, and how we can exploit that and convert it into profits in our pockets. Smash that link to watch it!