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Yes, 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 regu
by panarky 6y ago
Yes, 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.