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BCH Academy 1: Building a Good Mentality for New Trader

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Written by   236
1 month ago

Crypto is an attractive investment with high risk. Some friends started trading and received daily profits.

Therefore, beginners come with the dream of winning every day. And this is a story about a beginner in the market.

First Experience in Crypto Market

A newbie downloads an exchange wallet app. Then he registered and verified to have an account. When the beginner saw how to deposit.

These newbies send most of the money to the exchange's wallet.

It didn't take long, beginners in crypto trading instantly bought some crypto. And All In, all that money to buy one crypto.

After a few minutes had passed, the rookie burst into tears. You know why? Purchased cryptocurrencies show no potential to go up to the moon. Instead, the crypto is down to earth.

The beginner immediately panicked, scared, and without calculation sold crypto at the lowest price from the price at the time of purchase.

Of course, everyone knows that this newbie is losing and throwing his money into the market. This is the experience of impatient and uninformed beginners to trade in the crypto market.

After Crying and Surrendering

The startup keeps the remainder of the sale that made the first loss. Then, beginners look at that exchange wallet all day long.

The newbie sees that there are many cryptocurrencies with different names and different buy and sell prices, including different volumes.

Did the newbie immediately buy some crypto? No.

The beginner notes on paper the name of the crypto and how much it costs to buy. After that, beginners look at cryptos that have daily movements which means there is a 3% decrease and a 3% price increase for each day.

Did the newbie buy crypto after reading the note? No.

Tomorrow, beginners start reading the time of the market. Beginners see when it's time to buy or when the purchase price of the cryptocurrency drops by more than 3%.

Then, the newbie buys crypto by looking at the global trading volume. So, beginners know which charts are suitable for buying.

The Second Lesson is to Hold

After all the money was exchanged for crypto.

What happened next?

As it turned out, the cryptocurrency underwent a correction in the market. So, beginners ask themselves whether the crypto they bought is right? Is the risk in the crypto market very high?

And many other questions that make the beginner lose the will to live.

Unlike the first purchase and sale. This time the newbie held the asset for a good time.

One day, two days, up to a week.

Beginners learn to be patient in holding assets. Not everyone can do that but beginners are forced to learn to hold their assets.

After that, beginners find out that the market in crypto is not as beautiful as one would like it to be.

Apart from buying and selling in the market, beginners learn to hold back and wait for the time when the crypto flies to the moon.

How to Building The Best Mentality

This is where beginners know one of the keys to success, which is knowing the right time.

Beginners should know which crypto to buy

Beginners should know the price difference every day

Beginners should be confident when buying crypto

Beginners should know when to sell crypto

Beginners must be consistent and committed to daily profit from 1% to 3% or 5%

Beginners should restrain themselves and hold assets when prices are falling to the moon

The mentality of a trader is born after going through several experiences in the market.

New traders should read the opportunities and know when they become profitable. On the other hand, new traders are able to control themselves not to continue trading after receiving profits according to the daily target.

Conclusion

Mental is very important, new traders should not break the rules made by themselves. When you know when to buy, you have to buy. When you know when to hold and sell, you have to sell. And.........

New traders should know when to stop and start trading the next day.

New traders know that there is no loss as long as the beginner holds the asset when the market is falling.

Remember, a falling market is the time to choose a good cryptocurrency to invest in for a few days and sell when the profits are right in front of your eyes.

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Comments

Crypto is patience. As a newbie, I promised myself to be patient.

$ 0.00
1 month ago

i am also trying my best to follow tutorials online... slowly,slowly.. baby steps.. let's go!

$ 0.00
1 month ago

$1 in kripto better then $1 in fiat

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1 month ago

indeed!

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1 month ago