We've all been there before. First thing in the morning, check the charts. 3 am, check the charts. Baby's first steps, check the charts.
With a market as volatile as cryptocurrency it is incredibly easy to be driven by your emotions because, well, that's what our brain was built to experience. We naturally follow the pack, follow what's popular. It's the reason why social media is so addictive, because millions have been invested in designing an app that never quite satisfies the user. The grass is always greener on the other side, and the cryptoverse is no different. When those green candles light up, so does the pleasure centers in your brain. Literally.
So how can we combat this?
First things first, make a plan.
Are you in this for 3 months? 5 months? 3 years? 50 years?
By setting a finish line, this sets a foundation for your plan. It puts your portfolio into a wider perspective. Remember, this is a marathon, not a race. If you sprint in this game, you will fall and lose.
Next, spend a few weeks approaching the space with genuine curiosity. Find 5-10 projects and research which ones have the most potential. Ask yourself-
Does is solve an issue that needs fixing?
Does it have a solid team?
Do the tokenomics work out?
Is it too good to be true?
Is it speculative, or in use?
Awesome. Now you have a estimate for how long this marathon is, and what coins you will be taking with you on this journey. Now set up a buying plan. It should be consistent and realistic. As an example, I can afford to lose about $60 a week, so that is what I invest. I invest every Sunday, without fail and I invest in the same coins every week, without fail. This is the hard part, but the most important part.
These rules don't change under no circumstances.
Not even if some shilled shitcoin on reddit is mooning.
Not even if your biggest asset is down 60%
Don't branch off into different coins. You will never be satisfied. The grass is always greener on the other side.
If you stick to this plan, not only will you see better profits, this will also ease your stress and make the whole cryptoverse more palatable.
Enjoy :)
Make sure to check out my other articles for ways to earn Passive Income!
