Crypto is a wild ride that can take you to the moon or leave you in the dumps. 🎭

Managing your emotions is the key to success!

Join me to learn about 👇🧵

1. 3 types of traders.
2. Different mindsets.
3. Tips to protect your mindset.

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Most people aren't profitable in crypto because they haven't mastered their trading psychology.

Picking the right coins won't matter if you don't respect your frame of mind!

Learn how to handle fear and greed, hope and regret, gains and losses.

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3 TYPES OF TRADERS

1. 10% are consistent winners. 🤩

2. 40% are consistent losers. 😠

3. 50% boom and bust. 💥

Boom & bust traders have learned how to make money, but not learnt how to keep it.

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MINDSETS 🧠

😰 Negative Mindsets: like self-criticism, regret, and betrayal can cause more losses.

😠 Reactive Mindsets: blame the market or other factors, instead of accepting responsibility.

🤩 Euphoric Mindsets: overtrade, overleverage, and don't take profits.

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🧠6 TIPS TO PREVENT EMOTION

1. Pre-define risks before proceeding.

2. Create a plan for taking profits.

3. Cut your losses using a stop-loss.

4. Ignore social media, hype and FOMO.

5. Focus on the long-term goal.

6. Take breaks when needed.

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- A 2018 study showed that, 35% of crypto traders experience depression, while 45% anxiety. 😨

- Another also linked 22 suicides to LUNA's collapse.

A stark reminder of the impact that crypto can have on mental health. 🧠

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SUMMARY

Profit isn’t profit until you sell!

Stop looking at your daily gains because they aren’t a true representation of your investment.

Use these tips to develop a diamond mindset when navigating the ups and downs of the market. 💪

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How do you manage your own emotions in crypto?

Share your tips below! And remember, take care of yourself 💙

💁‍♂️ Come back tomorrow to learn about how to protect yourself against scammers.