5 tips to take advantage of the market downturn
Tips that will help you with the market crash:
Who has not entered Coinmarketcap.com and sees everything red and feels a strong squeeze in the stomach?
Who hasn't come across Investing.com and read a bunch of news that makes them walk away with all the anxiety?
Yes, I think it has happened to all of us because if there is money involved, everything changes. Over time I have gained a bit of knowledge and have come to the conclusion that if cryptocurrencies are going to become your lifestyle, it must be a healthy and constructive experience, not a threshold of toxicity and hostility. This year we did not start as expected, but sometimes not because things do not go as we want, which means they are wrong, everything is a matter of perspective and here I share my tips to make the most of the bearish market (if it will be bearish):
https://m.es.investing.com/news/cryptocurrency-news
Accumulation:
What for many is the end of the crypto market, for me a bear market is an opportunity for all of us who started late and now have the opportunity to accumulate at better prices than in the withdrawals of the bull market.
Bitcoin and the blockchain world is the future and there is no going back so thinking that it is the end of everything is silly.
My accumulation strategy is very simple, I simply use an amount of money willing to lose and divide it into 4 parts to accumulate weekly and thus average.
Another thing I do is at times like this, only accumulate coins with safe and long-term projects like BTC, ETH, ADA, BCH, TERRA, SOL etc...
Thus the percentage of risk will be less volatile and the experience is less cardiac.
The long-term vision will make you forget about the nightmare that the present moments can have.
Expand your knowledge:
Nothing better than learning at the time of chaos and that is that the bull market where everyone is calm or excited is not the same as the bear market where everyone is afraid. The analyzes come from history so what happens at this moment will probably be something that happens in the future and you will already have a big step forward. Make the most of understanding your projects, seeing how the market moves at times like this, what usually happens, how it affects the news, criticism, etc... Take advantage of gaining as much wisdom as possible.
Trading scalping:
Unlike holding, scalping trading allows us to profit from both the bull market and the bear market, so putting your scalping strategy to the test right now can pay off big. Always remember that every time you fail you will be closer to success and that is how trading is. The more you test your strategy, the more profitable it will be.
Control your emotions:
We all know how important it is to maintain an emotional balance to survive in this world, so I have a mantra for certain moments:
"If I make a profit I don't get happy and if I make a loss I don't get angry"
So I can maintain a balance for both emotions, which must be eliminated when it comes to cryptocurrencies.
Don't get excited when you want to make the euphoria go away from your life and don't risk money just to have a winning streak.
And not getting angry when you lose will prevent you from risking money to recover what you lost by entering operations with prior desperation.
Are you wondering if that is possible?
Yes, it is possible, the brain is a muscle that can be exercised for any habit, you just have to work on it.
Controlling your emotions will definitely bring good rewards foro you as time goes by as it will be much more profitable.
Disconnection:
This is the last tip, but it is not the least important.
Getting away from the news and all the fud will be a great favor that you will be doing to your mind.
The news is important to know what is happening in the world, but it will be a great negative burden for the stability of your mind.
A profitable trader sticks to his strategy and the news can make you act out of fear.
The market moves from history and technical analysis is to see the probability that what has been seen before will happen, that is why it is much healthier to trust your strategy at any rate and remember that the more you fail, the less you will lose in future operations.
Be you against the world, sometimes it's not easy to feel small next to big whales, but having your own analysis regardless of what others say will make you a much stronger trader.
Get away from the networks and news when the market is critical, it is best to stay away, indecision can cost you a highly expensive bill with your operations, it is better to go little by little learning and waiting for the best moment to enter.
Then giving yourself a mini-vacation will also give you profits because a rested mind works much better than a saturated one.
If you want crypto to become a part of your life, at least try to make it a good experience.
Many people quit because they see it as difficult and complicated when the reality is that we are what makes it difficult and complicated.
Thank you very much for reading I hope my advice has been useful.