3 ms·
I feel you. I started feeling "can we not have a crazy bull run now please" when it was clear 20k was broken for this cycle. I completely quit trading after the
by 3np 6y ago
I feel you. I started feeling "can we not have a crazy bull run now please" when it was clear 20k was broken for this cycle. I completely quit trading after the 2017 bubble, though. If I had placed bet on the promising small-caps (defi projects) I worked with through work over the past couple of years, I would have been wealthy now.
But I have no regrets, it has allowed me to detach mentally and emotionally from the price swings and I find my mental health worth more than the chance to get dirty rich (or lose it all). I see the prices of a lot of assets I hold during my daily work, but they're just numbers now.
I still have significant (to me) crypto holdings, but I take a longer-term perspective now and am fine with the fact that their market price may very well crash to 10% of now during the year.
But yeah, the goddamn media. Can we stop talking about price please? It's just so uninteresting.
- panarky 6y agoYes, exactly this. Speculators will speculate, gamblers will gamble, and media consumers will consume media. Nothing I can do about any of that. But I can regulate myself. Stop trading. Stop consuming media. Stop watching prices. All this short-term stuff is not meaningful. Time is the true test. What ideas, companies and crypto projects will survive for decades, and which ones are ephemeral get-rich-quick vehicles? I'd rather put my wealth in a handful of the former than pretend I can beat people smarter and faster than me by trading the latter. My own psychology is the biggest obstacle to hanging on for multiple 10X's. I'll always sell winners too soon and hang on to losers too long. So for me, the best strategy is to "set it and forget it" and stop paying attention every day or even every week.