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Thread: Panic rapidly

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    Panic rapidly

    Do you panic if the price fall rapidly?

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    I panic every time the coin that I've invested in moves downward.

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    Quote Originally Posted by Juskopo View Post
    Do you panic if the price fall rapidly?
    That's the reason sometimes I close my order without thinking of the future. I hope I can contain my emotions.

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    Nope! I am learning how to control my emotions to avoid unnecessary trade.

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    Quote Originally Posted by Newbie_trader View Post
    Nope! I am learning how to control my emotions to avoid unnecessary trade.
    That's great! Do you have any tips to avoid panic selling? Lately, the value of Bitcoin has rapidly dropped. Some people say that Bitcoin will have decreased by 10% at the end of December.

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    Quote Originally Posted by Mr. Cid View Post
    That's great! Do you have any tips to avoid panic selling? Lately, the value of Bitcoin has rapidly dropped. Some people say that Bitcoin will have decreased by 10% at the end of December.
    Do not sell out your deal out of panic. If you do, you're helping the Bitcoin to bleed even more.

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    I never did panic selling. This is the first tip that my aunt taught me when she oriented me about cryptocurrencies. She told me that sudden drops in the price are normal and that I shouldn't be swayed by those. That is why right from the start, I already made efforts to control my emotions.

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    I think every newbie trader has gone through this phase. Panicking when the price dropped drastically but it is a mistake that shouldn't be repeated. Panic buying/selling often only leads to losses.

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    Quote Originally Posted by Sendo12 View Post
    I think every newbie trader has gone through this phase. Panicking when the price dropped drastically but it is a mistake that shouldn't be repeated. Panic buying/selling often only leads to losses.
    Guilty as charged. I made the same mistake quite a few times. It took me a lot of losses before realizing that I should rather control my emotions instead of making decisions out of bursts of emotions.

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