Uncontrollable greed and fear can make crypto investment bad
Greediness is not for me and it has never be the cause of my bad crypto decision rather than the fear. Greed and Fear are two things involved when you are investing on cryptocurrency, one, you have to put your greediness aside, secondly you need to mitigate between your risk and fear.
Crypto market is unpredictable and sometimes an unexpected events occurred that left investor doubt, but anyone who choose crypto investment have to be aware that the market is volatile and one have to be on the wise scale because of unexpected events that can be emotionally.
I remember when I start to investing on cryptocurrency, the first two things the person i seek for advice told me is that, I shouldn't invest with the money I needed back in one month because crypto investment is full of surprises and we can't approach it like other traditional investment. Also I should be on a wise scale on decision making. Mean I shouldn't be too greed and I shouldn't let fear lead me to make decisions that will affect my portfolio. And since I started my trading/cryptocurrency investment I fully understand the emotions of the two, Greed and Fear, and the two factor cause an headache for investors who don't understand the market pattern.
In the presence of greediness, investor will feel like he wants to make more profit without considering the market is volatile. If you cannot make a good decision on when to take your profit, greedy will make you later lose it all and probably you may endup holding a dump coin. Well, greediness is not my problem, my problem is the fear of losing just a dollar on my investment.
I see myself as one of investor that is looking for financial means to survive and I believe investing and trading cryptocurrency will sort out some of my expenses so I don't wait much for my coin to have more profit before I see them out for my bills. But what I always notice is that, most of my sold coin are sold because of my fear, I'm just too emotion when losing a penny to the market. The fluctuations of crypto market is really not for me because it fuel fear on my holding and that fear always results in me making a bad decision.
Honestly, I felt sorry for myself when I saw the price of $RUNE at $6.8 I bought the coin around $2 but because the market was not good and the fear not to lose I sold it at $1.6 and now I realised I lose the opportunity that will bring me big profit. As an investor we should put a limit to how we think about our investment, if you're too greedy while investing on cryptocurrency you are putting yourself at risk, likewise if you fear much on losing it will also result bad on your crypto investment orelse you know how to balance the two without making a mistake that will effect bad on your portfolio.
Balancing greed and fear can also be a daunting task, for that reason we need to be active and follow the trend to make a good decision, and whoever have raches emotions on their investment whether too greed or fear should consider using stop/limit order to mitigate the risk especially when the market is fluctuating that will help not to fall into decreasing value of assets.
However, it is important to maintain a reasonable balance in terms of when to sell your digital coins and when not to sell them. In other words, as far as I am concerned, focusing on the bigger picture is always ideal before you decide to invest in crypto.
Crypto market is highly volatile but, when you balance greed and fear well you will still end up making good money in this market.
Posted Using InLeo Alpha