EC Bitcoin, How Not To Lose

Bitcoin, how not to lose:

It takes quite some experience to judge oneself on emotions of over- self-confidence. If you had an excellent run on investments, take some money off the table. Wire it from your brokerage. Consider self-gifting, vacation, or otherwise reward yourself. Make sure your daily self-assessment routine contains this checkpoint of possible over-confidence. Reduce size for upcoming trades and pat yourself on the shoulder for a job well done.

You could give more considerable amounts of profits up due to negligence and being complacent, not abiding as diligent to your trading rules, as usual. This can be especially painful in these heightened emotional states. Consequently, this causes even more dramatic setbacks trying to brush early warning signals of over trading and under-selecting signal quality off and trying to prove yourself. Like the market, you need to take a breath, celebrate, and return light-footed on half size for the next run-up.

1 2
View single page >> |

Disclaimer: All published information represents the opinion and analysis of Mr Florian Grummes & his partners, based on data available to him, at the time of writing. Mr. Grummes’s ...

more
How did you like this article? Let us know so we can better customize your reading experience.

Comments

Leave a comment to automatically be entered into our contest to win a free Echo Show.
William K. 2 months ago Member's comment

Quite a detailed set of advice, and all of it reasonable. My take is that to actually make a profit on the rise of share prices, one must sell those shares. Otherwise it is just potential wealth, a collection of valuable, not very liquid, assets. And the challenge of selling is always that it requires buyers, folks willing to pay that higher price, for whatever reason. Without the buyers, one just owns a bunch of impressive numbers, usually a challenge to spend.