Fear and Greed in Crypto: How to Trade With Discipline

Crypto market is a whole bunch of surprises. This is as quick as a minute and everyone is eager about what is rising. The very next minute, the prices plummet, and everyone panics. Fear and greed are the two largest emotions in this market that govern people. Both of these emotions are strong, and you should never mismanage them as their consequences can cost you your money as well as your confidence. This is why it is so important to learn how to trade wisely, especially those that are novices and those that are Nigerians trying to make money out of crypto without falling into the usual traps.

Heroic life is the Christian life it is the life of fear It is the sensation you have when you feel the fear of losing something you highly value. When the market is on a downward trend, one way or another fear may manifest in the activity. The market panics and many start selling as fast as they can just to not miss their money. This is referred to as panic selling. As in, in the above case, when you bring a coin at ₦100,000 and it goes down to ₦70,000 you may want to sell at a small loss due to fear. Worse still, there are times the fear is instigated through fake news or social media rumors. There was someone who wrote that the government is outlawing crypto, people start to sell without verifying and out of fear.

Fear also cause people to avoid the good opportunities. Most people will buy at low prices when events such as Bitcoin or other coins are cheap, and this is usually the right time. You can become incapacitated due to fear. You could wait more and wait longer in the hope that at some point it will go still lower. It can ultimately increase the price and you would have lost the opportunity of purchasing a product at a low cost. It will create doubt, confusion and reluctance due to fear. And no one wants to be delayed in such a fast-moving market as crypto.

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Greed, on the other hand, is on the other side of the spectrum and it is equally as dangerous as fear. To have more and more is greed. This is seen in most cases when the price of a coin is going up, people tend to get greedy. They do not collect the profit as soon as possible, instead they extend time waiting to find the cherished price of the coin. The crypto is not stable though. A coin can go up 50 percent in a single day and down, the next day 70 percent. Being too greedy, you can see how your profits fly away.

It is also through greed that people invest in scam projects or risky coins. When you see people earning money, you would not wish not to be left behind. And so you do in fact invest blindly You are forgetting to carry out research. Deluge, hear not, deluge, hear not, Thought of earning money can only occur to you only And this is how numerous Nigerians have lost money in fake coins and the so called pump and dump. People are so careless because they are greedy.

This is something that you will have to be disciplined to make it in crypto. Being disciplined is to have a roadmap and not veer off that map regardless of how you feel. It refers to not moving around in fear or out of greed. You are not on a hurry to do things. You stick to your plan and come up with good decisions. Self-control is one of the dexterities of smart traders. They do not panic when the market is red. They are not panicked when the market is green. They are laid back and non demanding.

A trading plan is one of the ways by which one can trade in a disciplined manner. take before you go out into any trade the amount that you will put out and what piece of coin you are getting and how much you are going to have when you sell it. You ought also to put a stop-loss whereby at this point, you exit the trade so as to evade further loss. By doing this, you will have a clue of what to do in case the market goes against you. A plan would give you some sense of direction, it keeps you safe against impulsive decision-making.

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The other measure involves conducting your own research (DYOR). Never mind repeating what people are saying on WhatsApp, Twitter or Telegram. To send information on the coin over the radio more information was needed to be sent. Find out more about the project and the people who created it and read what is the problem that the project addresses. Provided that you know about the project, you will be more confident about the investment. The chances of rejecting rumors and fear are also reduced.

Risk management should also be used. When you put all your coins in one coin nothing turns out alright. A Deathwiat sure Crypto him, son of the Devil all right, American, definit, a market Yankee, would you know, airplane Dan, I see it and hear it so clear airplane, air boat, air power, everything is so in focus Although you may be really convinced in this or that project, do not invest your rent or school fees. pull down is gone. Any arbitrary thing can be done. The prices may plummet at any moment. Invest in amount that is less than you can afford. This will assist you to sleep well at night and diminish the pressure.

The second thing to do is to learn to take profits slowly. Waiting till a coin goes to the sky and selling your coin is not recommended. Any increase in the price can allow you to take away a small sized slice of your profit bit by bit. In this way, you still have something even when the coin crashes. A trading maniac is not a greedy trader. It is sensible to take small profits as opposed to losing everything.

Another aspect in discipline is control of emotions. When you are too excited, or you are too afraid, please stop using a phone or a computer. Decision making should never be done at the point where your heart is racing. Breathe. Relax.

It also has what is known as the Crypto Fear and Greed Index. It is a pointer of the general feeling of traders in the market. A low index is an indicator of fear among the people. When it rises, human beings are greedy. It is what is used by smart traders to make their decisions. It may be a good time to buy when everybody is afraid. When greed goes round everyone, then it may be time to take care. This is according to the renowned Warren Buffett advice: It is wise to be in fear when all are greedy and vice versa.

There are also several pitfalls that you should not make in case you aim at disciplined trading. will have no option other than to pursue a coin since it is pumped It has the capability of dumping at any time One is unable to be carried away by what is being hyped up There are many influencers who market coins with the aim of gaining much money out of their followers. One should not speculate in the stock market. Do not come in and come out of the market in any way. Overtrading can cause a lot of minor losses.

To sum up, fear and greed will never leave crypto market. Most of the restraint you can not put upon them not to be, but upon them not to rule your decision. It is the game of self-control in trading. Think through, do your research, control your feelings, be intelligent to take profits. As a trader, no emotional decision-making should be done. Reason, delay, and strategy are the ammunition that should be used. When you are able to do this, you are going to stop most of the regular losses and develop as an intelligent trader. It is good to remember that crypto is not a quick-money game. It takes a long time. discipline will be your great friend in that travel.