Re: When crypto spikes, exit the market
by on 02/12/2025, 20:56:33 UTC
I keep on telling traders this same thing, most of them slseevit as an opportunity to make money because of how volatile it is and it can give you huge amount in minutes.
But they do not consider it the other way round. Loosing money is One thing, but loosing it in seconds is more emotionally disastrous.
In a situation where you see Spikes like that not only iin crypto also in forex the best thing to do is just to avoid the market at that particular moment. Trading news also it's a bad idea as well
When you are in crypto for a long time, you get used to it. Altcoins are still insanely risky so you could lose it all and it won't even recover, so many alts just went down and stayed there so that's another situation. But when it comes to big ones, like the top 20, they may go down with the market at some time, but they will go back up. So seeing it crash in a single day, is of course still bad, but also something we are used to.But they do not consider it the other way round. Loosing money is One thing, but loosing it in seconds is more emotionally disastrous.
In a situation where you see Spikes like that not only iin crypto also in forex the best thing to do is just to avoid the market at that particular moment. Trading news also it's a bad idea as well
So many times I wake up and see my money 10%+ down, it's becoming boring to see that, I do not feel any emotions at all. Main reason? Because I also saw it go up 10% as well, much more. This is why I do not worry because I know that even if it's down now, it will go up eventually in the end.