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by: Michaelson Williams, TSX | The Michaelson Effect | Publication: MMAP Magazine

Stop losing by investing your hard earned money in cryptocurrency. The emotional pros and cons are less evident when trading digital money. It’s all fake anyway, right? How you think and feel about trading crypto matters. Your trading emotion will determine whether you will be successful at it or not. Another thing.Listen if you want, or don’t, but your money has little to no power in the digital currency market, and I’ll tell you why. But not right now.

Right now I want to talk about the fast and volatile movement of digital currency trading. If you are not having fun in your crypto trading life because of the roller coaster ride, get out. Get off the ride now! It’s not for you. Yet, if you love the way it feels to be up one day and down the next, only to be up again in an hour or so. Stay on and enjoy the ride. Like anything else in life you’ll get used to it over time.

Cryptocurrency trading is an exciting experience for some, but most are losing money. Something in the range of 95% of trader’s lose their money and fail at trading cryptocurrency. The odds are against you from the get go and it’s because your emotions are high and your money is low.

There is a certain psychology that most people don’t have and cannot develop about money. When I say “cannot develop” I mean this only in the short-term sense. Over time a person can learn almost anything. But, if you are learning to trade digital currency while filled with negative money emotion, forget about it. Your money is gone…

I know, I know, but you’re different. You are going to make millions even billions after you learn about trading crypto in a few weeks. Not Going To Happen. And I’m not being negative. Remember the 95% of cryptocurrency trader’s losing their shirts and pocket change? Don’t be another one of the herd, Be Wise. You are in the right space and at the right time, so don’t be a dummy about your money. Cryptocurrency trading is going to be around for a long time, and if you want to be a big part of it, change the way you think. Start thinking long-term, and quit that short-term “Get Rich Quick” shit. That mindset will keep you poor, right until they close the lid down on your casket.

The longer term you think the better off you’ll be. When you begin thinking longterm investing, emotional pressures of winning and losing subsides. Without the built-up emotional pressures and concerns over losing, you’ll focus on winning. Your trading decisions will be more relaxed and less rushed. Remember those trades you made when you sold just before an upswing? How much did you lose there? If you had only waited another couple of days you could have won and increased your portfolio. Instead your portfolio shrunk a little more that day. Emotion investing is almost always a bad habit, and unfortunately it’s human nature.

So how to you fix it? Believe it or not investing large sums of money will increase your chances of winning big. Have you ever heard the expression “you have to play big, to win big” or something like that? There are so many expressions about the psychology of winning it’s hard to remember them all. You get the idea though…

Read the full article in the upcoming April 2020 issue of MMAP Magazine where we have lots of articles and tips on all subjects “True Success”.

Secure your future by building a mindset that cannot fail.

 

“True Success will always come to the person who takes action with total focus in a deliberate direction. So move with purpose and realize your full potential, while in the creation phase of all your dreams.” ~Michaelson Williams

 

by: Michaelson Williams, TSX

The MichaelsonEffect – Helping People Master Anything They Choose.

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