Everyday is a Good Day in Crypto!

I am writing this to help eliminate the emotional roller-coaster many investors face, often on a daily basis. If you let your emotions get the best of you, you will become indecisive and sell during lows and buy during highs. Sometimes it becomes so obsessive you find yourself checking the prices every minute and every hour. This is no healthy way to live as an investor. This could have a negative effect on personal relationships, the workplace and even take a toll on you financially. For many, this is how you end up 'dying a traders death'.

If you're confident that an asset would survive a 'worst case scenario', then you wouldn't worry about tomorrow. Every time you worry or become frustrated it will wear you down, more and more until you eventually break... As your watching the market crash up and down daily, your emotions can eventually result in poor decisions.. For many, this is the last and final experience they have.

Gambling is apart of human nature and you must learn to suppress it. Think of it like when you go to the casino with $100 and leave the rest of your cash at home. If you are looking for this kind of excitement then your not investing, your gambling. (also known as trading) You have to choose how much your willing to gamble with and NEVER GAMBLE WITH YOUR PORTFOLIO. This is very important!

When it comes to your portfolio, I can't stress this enough but everyone should research what they invest in. Now this doesn't mean "Spend all day and all night scouring the internet for random details." (which doesn't hurt) but when I say research that means ask yourself some specific questions and then find the answers.. Based on the results you can figure how much your willing to risk vs the potential reward.

Start with these two factors if your looking for a reasonable return on your investment.

Find a promising asset. (Ill cover this in a future post)
Find something before it's popular.

Now don't set expectations too high and aim for adequate results. Your portfolio should be on auto-pilot until (if and when) you decide to depart. Only depart from an asset if you have a good reason to do so. If you find yourself buying or selling the same asset more than twice a year then your likely doing something wrong.

Trading - Buying assets when the market is moving up, and selling when the market moves down. (Gambling)

Short-Term Selectivity - Buying assets that are expected to have an increase in earnings due to some upcoming event, news or some other favorable development. (also Gambling)

Long-Term Selectivity - Choosing assets which have not yet shown impressive results, but are expected to establish a high earning power later. Or in other cases, choosing an asset with excellent past growth that is likely to continue in the future. (Investing) 

Many people boast about how their method "works" and is "right" regardless how dumb or dangerous their tactics are. As Benjamin Graham says "The intelligent investor has no interest in being temporarily right. To reach your long-term goals you must be sustainably and reliably right."

So next time the market crashes up and down don't panic and don't care! In fact if you buy more assets during a decent crash, you'll be rewarded greatly once it recovers.

Thank you!