Mindset, what is it?
In the world of investments, having a correct Mindset is essential to obtain remarkable results, especially when it comes to cryptocurrencies.
Unlike shares, cryptocurrencies have such volatility that one day you are on the moon and the next day you are underground, and it is precisely in these cases that having a good mindset is essential.
The mindset is basically having the lucidity to be able to think for yourself, even in difficult situations, without being influenced by external agents such as the very famous tweets by Elon Musk which in recent weeks are creating many problems for all investors.
There is no general Mindset, but each person develops one according to their needs and needs, in fact you will never find two people who think exactly the same way.
How To Create A Mindset?
Before starting to invest, you need to train your mind to prepare for any type of event, whether it be good or bad.
We need to know exactly what to do in the event of a market crash and at the same time we need to know how to manage big gains, otherwise we risk wasting all the work done previously.
To found the correct Mindset, there are various paths that we can take.
We can read books focused precisely on the way of thinking, which is the basis of investments, we can rely on Mental Coaches, or experts in the reprogramming of mentality in any area, both personal and work or more simply surround ourselves with successful people from whom to steal. information on their work and then re-elaborate them as we please.
A correct Mindset
A fundamental characteristic of a winning Mindset is not to be afraid, not to be afraid to make certain choices and above all not to be influenced by the opinions of other people, in fact if we believe that a certain investment can be profitable, we continue on our way without worrying about all the rest.
Obviously I'm not saying not to listen to the advice on the contrary, if someone more experienced than you gives you advice it is absolutely recommended to listen to them and take them as an example because maybe they have already been there and could make your life as an investor much easier.
Setting goals is a good way to know how to regulate and know how to stop at the right time, without risking losing any possible income.
Understand
A fundamental part, even before investing, is to understand how we want to invest and above all where.
Each type of investment requires different studies and knowledge.
If we trade we will only be interested in the technical analysis of the chart and data relating to the token, if we invest for the long term we will also need to do a fundamental analysis by reading the project of the crytocurrency itself and understand if in the long term, it will perform well. or not.
People who are unsuccessful are led to think that those who have achieved certain goals were only by luck and this is a totally wrong mindset in fact if I were an unsuccessful person, instead of criticizing those who do better than me, I would try to study and to ask him how he achieved that goal, so I can get there too.
Envy will never get you anywhere!
Knowing how to wait!
As with everything, there are right times and wrong times for investments.
The skill of a good investor is also that of knowing how to wait for the right moment to open or close a position.
If the market is totally bullish, it is very risky to enter as it could come back down more easily while if we see that the market is bearish, perhaps it is a good time to buy because the price is substantially in "discount".
Not getting caught by the Fomo or the Panic Sell is a feature that only intelligent investors have, those who over time have developed a winning Mindset!
I hope you enjoyed this article, see you next time!