Thread by @DBCrypt0

1/ Possibly the hardest thing to do when investing is to take emotions out of the equation

We all have been guilty of this and I catch myself daily letting emotions take over

Let’s look at some ways this may have an impact and what you can do…🧵

2/ BEING GREEDY:

Probably the most common and one many, including myself, learn the hard way

“My token is up 2x but 3x sounds much better. I’ll hold a little longer…”

Sound familiar? Yeah, I thought so.

How can you avoid this? 👇

#Crypto #BTC #ETH

3/ One suggestion is to go into every trade/buy with a plan

Buy token xyz at $10? Maybe plan to sell some/all at $15 even if you feel it may go $20+

Think like a trader even if you are a long term #hodler

Things move too quickly in the space. Make a plan and stick to it 👇

4/ just an example and maybe your timeframe is multiple years

“No one ever went broke taking profits”

You’ve probably heard that before. So did I and I ignored it. 🤦‍♂️

Learn from mine and others mistakes.

HAVE A PLAN! 📝

5/ CHASING PUMPS:

#FOMO is one of the strongest emotions but is one that will get more people rekt than any possibly

Nothing ever just goes up forever and retracements will always happen.

ALWAYS! 💯

If a token has pumped like crazy don’t FOMO in

6/ even if all your friends and influencers are talking about how it’s going to the 🌗

Your friends are most likely following their emotions and many influencers want you as exit liquidity

Don’t be someone’s exit liquidity! 🚫

If you must buy then use other tips from this 🧵

7/ FOLLOWING HYPE:

This ties into the last point. Most hype is VC and influencer driven 🤬

They don’t care about your bags. They only want to grow their own.

Many influencers have been caught dozens of times making a large buy, promoting it, then selling after…👇

8/ their audience buys

This doesn’t apply to every influencer but MANY

Careful who you follow…

Many VC’s are even worse and the best scam artists in the business 🐍

2022 has shown us just how truthful that is 💯

9/ BEING A TUNNEL VISION MAXI:

The #crypto space is MASSIVE and changes rapidly

It is ok to have your favorite projects but don’t become so narrow minded that you ignore what the rest of the space is doing

Or worse, ignore any potential issues/concerns that may arise…👇

10/ as this can quickly get you rekt

- Be open to other view points
- Research more
- Ask questions
- Follow people who live by this
- Look for cons not just pros

We all have our biases but letting them control us can be dangerous

One thing I’ve learned is unless you can…👇

11/ discuss the pros and cons of the opposing project then you shouldn’t be comparing/debating at all

Too often I see people arguing over which is better yet neither can tell you anything about the project the other supports 🤦‍♂️

Don’t be that person

#Crypto #BTC #ETH #EGLD

12/ BEING AFRAID TO SELL:

How many times have you lost faith in a project/token but it’s down so much you don’t think it’s worth selling?

I’m guilty of this MANY times 🙋‍♂️

But selling can give you capital to invest in something else you may believe in

Clean your bags! 🧹

13/ To recap:

🚫 Don’t be greedy
🚫 Don’t chase pumps
🚫 Careful following hype
🚫 Don’t be a maxi
🚫 Don’t be afraid to sell

Be aware of and keep your emotions in check!

14/ Here are some people that I recommend following for great data driven content

@elliotrades @KrownCryptoCave @Nicholas_Merten @WifeyAlpha @intocryptoverse @hashoshi4

Hopefully this 🧵 helps! If so please like, comment, and share it for others to see and benefit from. 🙏