FUD and FOMO
Updated
I've been working on trade strategies and finding the right mix of indicators that give the "ultimate" buy/sell now signal. However, just like the title suggests, FOMO and FUD not too mention greed continue to get into the way, so how to overcome that? Discipline? That would be ideal but if we had that then FOMO and FUD wouldn't be an issue haha. What about setting a simple strategy and sticking to it? Again Fear is a huge driving force in everything and excitement overcomes common sense almost every-time. So what are we newbie traders to do?
The long and short of it, we have to get the jitters out of our system. We HAVE to make many mistakes, over eager buy ins, and sells. We have to go all-in and force ourselves to WATCH the value go up or down and do NOTHING. That is the only way to overcome the fear and the greed. Signals and indicators are wonderful but if you cant control yourself and lower you pulse enough to capitalize on them then it doesnt do you any good, you may as well buy and sell at random points of the day or simply buy $500 each week/month/paycheck and call it a day. In order to day trader or intraday trade you need restraint and discipline, and forcing yourself to go through it is the best teacher.
I missed out on several 1% gains on this chart alone because of FUD, and FOMO. I was and remain all in at the time of writing. If the price hits the same levels again and tops out I have enjoyed enough heart racing, blood pounding in my head that I will absolutely sell at the first hint of an opportunity that meets my indicators.
I hope my lessons, and advice help you become better and more disciplined traders! Also feel free to use my indicators set up I find that they are quite accurate at determining buy and sell points... if you can be disciplined enough to read them haha!
The long and short of it, we have to get the jitters out of our system. We HAVE to make many mistakes, over eager buy ins, and sells. We have to go all-in and force ourselves to WATCH the value go up or down and do NOTHING. That is the only way to overcome the fear and the greed. Signals and indicators are wonderful but if you cant control yourself and lower you pulse enough to capitalize on them then it doesnt do you any good, you may as well buy and sell at random points of the day or simply buy $500 each week/month/paycheck and call it a day. In order to day trader or intraday trade you need restraint and discipline, and forcing yourself to go through it is the best teacher.
I missed out on several 1% gains on this chart alone because of FUD, and FOMO. I was and remain all in at the time of writing. If the price hits the same levels again and tops out I have enjoyed enough heart racing, blood pounding in my head that I will absolutely sell at the first hint of an opportunity that meets my indicators.
I hope my lessons, and advice help you become better and more disciplined traders! Also feel free to use my indicators set up I find that they are quite accurate at determining buy and sell points... if you can be disciplined enough to read them haha!
Note
Did you guys ride that 5%? I would have but I went to bed and was afraid everything was being set up for a bull trap... so I of course missed the all-in 5% jump many of you may have just enjoyed!Consequentially I think it's safe to say BCH has began a new rising trend that will reach the previous highs and perhaps paint new ones. The curve is both parabolic and rising. You should feel very comfortable buying BCH and HODLing for the next few days.
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