The Key to Avoiding Panic Selling, mostly in these trying times of BTC and Market Drop.
This is going to be tough for some of us, but if you can do it then trust me it will change your entire mindset and trading life as well.
The key and best way to avoid panic selling are to get your mind off measuring your portfolio worth in USD and taking note of every drop in the value of your portfolio, saying things like I have lost $50 or whatever amount during a dip when you know the market will recover but it may take some time.
For example, you have got 1 SAND, even if the value of SAND drops, it doesn’t matter, you still have 1 SAND - The markets will always come back whether it is in a month or 2 years but you still have your 1 SAND. If you are staking, your stack is going to be growing, not if you measure it in USD, but if you measure it in the coin you stake then it is growing, which means when the markets bounce back you will end up better off overall.
The other way is to measure it against BTC, you will find in most cases you could be 50% down against the USD, but only 5 or 10% down to BTC, and with most things still pinned to BTC this should help relieve your concerns.
The only time the above do not apply is if your belief in the project you hold changes, I believe in Cosmo, If it drops it doesn’t matter, I believe in it which makes it easy to hold.
These are perhaps might be a new concepts to some people, but to some it absolutely critical shift of mindset that will make you a better crypto investor over the years to come.
it's better to trade with your head, not your heart, which simply means before you bought that particular coin, you must have done your research about the coin that it is a good project before you invested in it, except you see any reason that points otherwise the coin still remains a good project, so why panic sell when you are confident of your strategy and decision.
Thanks guys for reading, I hope it can helps
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