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RE: Did You Panic Sell or HODL During The Recent Market Correction?
Biggest mistake investors make in any market is to trade on emotions.
People panic and sell when things are dropping, so they lock in a loss. Then they rush in for FOMO when things are up - and end up paying too much..
Buy low, sell high :)
You're right when you say biggest mistake people make is trading on emotions.
Gotta have a long-term game-plan / goal in mind and stick to it. Corrections are going to happen, need to learn to ride them out.
Yep. The only way you actually lose money during a crash is if you sell and lock in at that price. There's no reason to believe things won't recover at this point. Usually things will be flat for a bit before a real crash. People have to lose their optimism that there will be at recovery. Right now people are still too bullish so there are a lot of people willing to buy in at the bottom of a correction. As long as that's true, corrections will bounce back.
Right on @snubbermike, you will see how much I agree with this post last night...https://steemit.com/steem/@cryptkeeper17/see-those-prices-steem-hodlers-longs-buyers-time-to-be-excstatic. Well stated @snubbermike! UPVOTE
That's correct
I have done it several times and lost some money
https://steemit.com/contest/@manojm/contest-3-win-free-1-steem-by-defining-what-is-success
@firepower be sure to check this blog
It will be helpful for me
most people who are coming in are trying to make a quick buck so they will sell when they see a correction, it is part of the coin market to rise and fall