Making Better Decisions in Crypto Trading

ORIGINAL ARTICLE has been republished here with permission.

Crypto trading is easily one of the most stressful professions out there. It’s a game that involves your money, ego, and plenty of uncertainty that will lead to anxiety and rushed decisions.

However, there are several techniques that you can do to help you lower your stress levels and make better decisions. Let’s get started by talking about the things that you should do to help you slow down and make better crypto trading decisions:

Don’t Invest More Than You’re Willing to Lose

This is one of the most important things that you can do when it comes to crypto trading.

While nobody puts their money down expecting that they’re going to end up losing it, with the high volatility and uncertainty when it comes to cryptocurrencies, there is no way to know if your standings will increase or decrease in value.

The best way to stay calm is to invest an amount that won’t cause you to experience a massive loss in case your standings don’t hold up. This means that you shouldn’t go and put down your entire life savings into cryptocurrency. Instead, you should only put in an amount that won’t harm you if the value of your standing decreases.

Take Pause

Before you decide to make a trade or to transfer funds from one wallet to another, you should think and double-check what you’re doing to ensure that you’re getting the right information from the right places.

With crypto trading, there have been many errors made by traders who have lost money because they transferred funds into the wrong wallet. This typically occurs when traders are rushing to get things done quickly, and unfortunately, in most cases, the error that happens is irreversible.

Remember never to make trading decisions under the influence of alcohol! Alcohol can make the same mistakes as rushing to get your trading done quickly.

Act in the Present

When it comes to trading, you can’t be stuck in the thoughts of “should’ a, would’ a, could’ a.” This means that you shouldn’t get stuck in thoughts of, “I should’ve invested into that crypto when it cost only $100.”

There’s nothing you can do about that anymore – the train has left the station and isn’t coming back. Having regrets about the past can do more harm than good when it comes to crypto trading – same with FOMO (Fear of Missing Out). These are precisely the thoughts that lead to rushed decisions that cause you to place your money right when a coin is at its peak and about to drop.

If you couldn’t have taken advantage of a certain trading opportunity, you need to let that thought go and accept that it’s passed you by and see if you can catch up with the next big trading opportunity.

Play Your Own Game

It doesn’t matter how much other trader’s portfolios have increased in value – even if they’re your family or friends. The only thing that matters in crypto trading is where you began and where you are now.

Just because someone else’s portfolio increased by 25 percent and yours increased by 15 percent doesn’t mean that you’re still not winning.

Don’t think that you need to make rushed decisions to catch up with your trading friends and family. Of course, you should take advantage of opportunities that can increase your portfolio but do so without comparing your portfolio value with other traders.

Decide to Win

With crypto trading, there are many times when you’ll buy into a coin and the next thing you know the value has dropped. This is completely normal!

When this happens, you need to be patient and wait until the value of the coin rises again. Whatever you do, don’t become desperate and start selling your standing so that you can buy into another coin that you think is going to rise – this is a terrible mistake. The only thing that will happen is you’ll decrease the value of your portfolio without having the reassurance that you’ll get it back up.

Instead, decide that you’re going to win. Look into getting a tool that will alert you when the coin that you purchased goes back to the price in which you bought it. Then forget about the coin completely. Don’t check on it daily, just let it sit until your alert goes off, then you can go ahead and decide if you want to sell it or not.

Trading Anxiety

Anxiety is often defined as “a feeling of unease, worry, or nervousness, usually regarding an imminent event or something that has an uncertain outcome.” When it comes to crypto trading, there’s plenty of uncertainty, and this uncertainty is usually the cause of trading anxiety.

When it comes to the freedom and scalability of income that you can earn in this profession, there’s the trade-off of uncertainty. To become successful in crypto trading, it’s important for you to learn how to deal with trading anxiety to not only improve your decision making but also to make trading less stressful and much more enjoyable experience.

How to Treat Trading Anxiety

One of the best ways to treat trading anxiety is to use CBD, whether via gummies or tinctures. CBD is short for cannabidiol, which is a chemical compound that is found in hemp or marijuana. CBD is very different from THC because it doesn’t make you feel “high.” Instead, CBD will help alleviate physical and psychological symptoms by helping you to calm down.

If you start to notice that crypto trading has you in a state of constant worry, sleepless nights, or the inability to ignore anxious thoughts, then you might want to consider using CBD gummies.

CBD gummies are a quick and tasty way to calm down and get back into the right mindset for trading. Many people who have taken CBD gummies have found that they experience fewer anxious thoughts, better sleep, and an overall improvement of their mood as a result of using CBD.

CBD won’t take away your trading anxiety, but it’s a great way to help you calm down to make better trading decisions.

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