Hello steemers today I want to discuss the mindset of investing and the psychology behind markets.
So you are all probably asking yourself what the hell has psychology/emotions to do with investing? Everything people lose money on stock/crypto because they let their emotions get the better of them.
So the first question you ask yourself is before you start investing is:
How emotional are you and do you trust your own judgement?
Markets are run by fear,greed,hope and ignorance never do a sale or a buy if you in an emotional high for example if you're angry/sad wait it out and try to get a clear view on things. Think it over don't ever rush in to it because of these emotions.
Second point:
This is probably ties together with your own judgement:
Don't ever buy on somebody else his advice! I know alot of people who got REKT in the dotcom bubble because they took someone else his advice and visa versa. I know a guy who missed out on big oppurtunities because people who don't know shit about investing told him it was to good to be true or he was delusional don't ever listen to people with middle class believes if you wanna hit it big. Do your research and mike wise investments. I once read a few books about mindsets of millionaires and one of the best quotes I found in one is this :
Poor people think the universe wants to take your money. Worldclass people think the universe is here to give them money.
And this is true poor people live in fear of paying bills they are to scared to try to get out of their because a job gives them a false sense of security. Money is here to get taken and life is here to be lived don't live in fear but change your mindset and own it!
point 3:
Entry point always buy before the bull run never buy in one you buy in the bear market when everyone else is scared you see the oppurtunity. Why you do this is easy when the bubble pops en everything goes to hell you will still be in profits because you had a good entry point so you don't have to worry about losing your money so you will not be taken by emotion (see point 1) this gives you the power to sleepwell and hold longterm.
I hope you enjoyed this post about mindset !