CRYPTO AND THE HATE AMONGS US

CRYPTO AND THE HATE AMONGS US

By kshp | cryptokashyap | 13 Apr 2021


This is a conversation between two people mostly on social media or maybe physically. Let's say these are James and Jenny.

James: You are an idiot.

Jenny: You are just dumb if you don't understand this.

James: Why are you even here, just go to your 3rd world country you retard.

(Sorry for the insensitive words but this conversation, except the names, is real)

This conversation is not between people of different political ideologies or different religions but people who hold different cryptocurrencies. Yes, You read it right, people who hold different crypto. They are telling each other that their coin will moon and the other will not so everyone should invest in their coin so it could pump more. This post is not about ranting in crypto space, it's about how can you not become James or jenny. Other than the feeling of anger destroying your brain from the inside(you may or may not about that), the other reason why you should not become like them is that it hampers your objectivity. Once you are stuck in one coin then even if it is in the downward trend, it's hard to cut position and take a loss. An example of that would be when the dogecoin pump(fake pump) came after Elon Musk tweet, everyone jumped in and when it was over, people couldn't believe it was fake and continue to hold positions, and then they turned bitter to everyone who is holding any other crypto.

I could write about the biological or psychological reason behind the hate but this article is not about that. It's about how can we overcome this hate and become objective and cut off our losing trades.

1. Supplements

I use L-theanine to relax when I am day trading. It encourages a sense of calm. It's even been known to lower stress-related blood pressure and heart rate. Very useful when your trade goes against you or you are about to FOMO. It takes about 30min for me to feel its effects so adjust your trades accordingly. You can use Ginko Biloba too.

2. Lift challenging weight

When you challenge the muscles enough it depletes glycogen and you can feel your rational mind coming back. When the trade goes against you, just do some angry biceps exercises using dumbells and you will feel objectivity in your mind coming back.

3.Sleep

I cannot stress enough how sleep is important, but markets are on 24/7 and we might lose the next upside move so we stay awake. But, here is the thing, staying awake hinders your rational ability to make a decision. You may catch the move once or twice but in the long run, it's hard to control your losses at night because your brain is not functioning at full strength.

 

Ps: This is not financial advice and if you decide to take a supplement please consult your doctor. 

The market will always give you profit, it about cutting your losses.

 

 

 

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kshp
kshp

I have worked in the field of Data analyst for 3 years before switching to Analysis and algotrading.


cryptokashyap
cryptokashyap

I am a Data Analyst by profession and stock market trader as a hobbyist who got into the crypto because of the hype and it turned out successful. I also write about how psychology plays a big role in crypto.

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