You guys ever notice how tempting it is to buy when prices are soaring? I mean, it's hard to resist the hype!
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5 comments
Oh, absolutely! It's like the fear of missing out takes over all logic. You see everyone making money, and you just want a piece of it.
Right? It's like the market's psychology 101. We see green candles, and our brains go, "Yes, now's the time!"
But isn't it the worst? You buy at the peak and then, boom, prices drop. It's like a cruel joke.
Yeah, it’s painful. Selling at the bottom is just as bad. Panic kicks in, and you want to salvage whatever you can, or cut your losses if you're already in the red.
It's all about that fear and greed cycle. Greed makes us buy high, and fear makes us sell low. Classic emotional trading mistakes.
That said, I've got better at controlling my emotions now, because I've come to realise that I would often sell at the bottom, before prices bounce back.