Well. the first thought will come into our mind in this kind of bearish market is " OH GOD, I AM LOSING MONEY, WHAT THE HELL IS GOING ON"
Now we should know why we are in this kind situation ?
We don't have any trading plan to trade. Because of that we don't know when specifically entry into the market & when to exit.
We risk more than we are capable of . When we invest more than we are capable of then mainly fear of losing money come into our mind specially when we don't have any trade management plan.
Over Night Millionaire. LOL. that's what we think when it comes to crypto trading. But that's not the reality.
Now what should we do in this situation to overcome it :
If you don't have a trading plan first create one before entering into the next trade, if you already invested money in the market without trading plan then i will simply say don't open your trading charts/account every hour. When you open your trading account every hour even minute then it can create more panic. Get yourself busy in other work.
If you invested more than you're capable of then you already did a big mistake. Never invest more than you're capable of. Its very easy to say that manage your money but when someone is really in that situation then its very hard. We can cut some % of our position when market do some upward movement that's how we can manage our trade. But its all upto you how you manage your trade. You can cut your positions or just hold.
Short term trader will always be in pain specially in this kind of uncertain market. So i will say one thing see the bigger picture. But still as a day trader if you have perfect RISK : REWARD then you are good.
These are my thoughts what we should do in this bearish market. But always Trade at your own risk.
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