Crypto Psychology 101
Inside the mind of a crypto Trader/investor.
How Crypto twitter plays with your mind and stops you from making money ?
When the market is bullish , all coins are pumping , people are happy on timeline , then what you see on CT timeline .
1. HODL to the moon .
2. You are a loser if you sell .
3. Paper hands don't take money .
4. Your future generations will not forgive you if you sell early .
5. Major CT accounts will say its just the start and fill your mind with hope with words like super cycle .
Basically CT collective psychology will stop you from selling .
But as soon as market takes 2- 3 dumps , fear arises in CT , now same influencers will say these things .
1. Profit taking is the key to success .
2. Prices can go much lower , its just the start .
3. CT will fill you with fear with bearish posts .
4. Headlines and crypto inflows will instill fear in you .
Basically CT will collectively stop you from buying the crypto at discounts .
Solution -
1.Inverse trade CT .
2. Do not get influenced by charts , they there to spook you , mindplay with you .
3. Buy when you see sad and angry CT , sell when you see happy and hopefull CT where people are posting screenshots .
4. Key part is sitting with patience in between these extreme emotions . It is usually weeks and months .
By this method , you will not catch bottom or top , but you will be much better than majority of traders and investors.