Everything written in this article is Not to be considered as Financial Advice under any circumstance, always do your own research carefully. Knowledge is power
Introduction
It’s from some time now that I’ve wanted to write a small article for you talking about one of the hardest emotions that us traders have to daily experience in this space: The Selling and Holding of a particular project (asset) you’re personally invested in and give you some idea of the common misperceptions people have and what we can do about it. So ultimately here we are!
Selling & Holding
“.. To sell or not to sell, this is the question: “
How many of you at least once, while trading, heard that voice in your head that was telling you that “..You sold too soon” or that “You should have sold back then when..”?
Contrarily to what many people say, it’s really rare to be able to sell the top or buy the bottom. Im naturally not going to say that doing so might be able to cure this feeling we get as a result of a feedback from trading because it simply not true, it doesn’t. In a way or another you will always beat yourself up for not optimizing what you’ve done. And let me tell you: It’s completely normal.
People often think “ Oh it’s just trading magic internet coins, what could the big deal ever be?”. But let me assure you that it’s a tough psychological game which more often than not happens to be rather draining.
So it’s very important to be aware of it while walking through your crypto journeys.
Common Misperceptions
When people talk about having conviction on a specific project they usually measure it on a scale of how much their bags are loaded. This is highly inaccurate, as well as a False Economy - as it portrays that in order to have a strong conviction about the success of a project, it’s required a huge investment in terms of numbers to back it up.
These people often have a large balance to begin with, so it’s fair to say they have the pockets to ape into projects like they do. Most people usually have just a few $$ to begin with.
So that being the case, to carry a strong conviction is solely connected to what You Feel Like about a project, Not how much money you’ve invested in it. You can still be the loudest in the room even just by holding a handful of coins. Never feel like you have to invest your entire capital into only one project just to show your conviction to someone you've ended comparing yourself with.
As I said before, this kind of game can and will be extremely psychological. Do not compare yourself with others and feel like your conviction isn’t strong enough if you haven’t spent as much as others had.
At last always remember to Manage your Risk meticulously and to do your best stay healthy!
I hope you've enjoyed reading this article.. If so - dropping a like and leaving a tip would be greatly appreciated. Have a nice day!
Kiko
