Non-Greedy Reasons Why You Aren't Making Money In Cryptocurrency.
Every financial market requires a certain skill set to help you reach your goals, and the same applies in the crypto space. It really isn't rocket science, but it isn't a walk in the park either. This is why it still requires a certain level of dedication, training, and discipline to reach certain levels. Often times greed has stood in the way if many, but for some it's the lack of experience, wrong mindset and other factors that leads the way. Other than knowing how to predict the market, read charts and conduct proper research, there are other skills or mindset one must cultivate to reach one's goals.
For some they find it hard to be disciplined and so find themselves eating their seed. When I mean eating your seeds, I mean spending whatever comes your way carelessly because you're trying to fill your urges. You don't mind buying the latest fashion or jersey at the expense of your investments or going on a shopping spree with your friends. Even as a part-time crypto investors, spending all your income on pleasures won't get you where you want fast enough. Competing with your friends on who owns the latest tech or burkins won't help your crypto journey eventually. Rather than constantly throwing a major part of your income into irrelevant things, why not invest them. For example, you can't invest $100 and expect to make just as much profit as someone who invests $1000 because the fish you catch will be just as big as the net you cast.
Another mistake most investor make is pulling out all their profit. You invested 6 months ago and your $1000 managed to become $5000, and then you pull it all out. What you failed to realize is the fact that the market could grow beyond its current margin. Imagine removing all $5000 and the market grows x4 within a few days. Don't get me wrong, I don't mean you don't take profit at all, but you learn to leave some for the future. I once made a similar mistake with an airdrop I won. I was too excited with the value of the reward that I emptied the entire thing, only for the market to grow x2 within a week. If only I had been patient enough to withdraw just some profit. Another good example is the Solana market. I bet when the market grew to $74 many people thought they had hit the jackpot with withdrew all their profits only for the price of Solana to rise as high as $246 a month later.
And lastly, no reinvesting mentality. Many people just want to do the usual “chop and go” which is Nigeria pidgin for “grab all profits and run”. Most people fail to see the reason they should reinvest their profits because they want to cash out very fast. To ensure you will be reaping more for a long time, you must cultivate the habit of reinvesting your profits. For some, getting money to invest is a problem, but this can be easily dealt with by constantly recycling your profits to create opportunities for you. It's more like adding more money to your initial capital, so it can yield even more profit. For example, should your $100 yield $150, reinvesting means you would be putting in $250 all over and this might produce $400 or even more.
Posted Using LeoFinance Beta
I agree with your point of view, certainly often, greed gets in our way and prevents us from capitalizing juicy profits, and no doubt this is a clear lack of experience in this cryptocurrency trading or any other financial instrument. Discipline and emotional control are two key aspects
Best regards, be well.