Both Stifle Growth
Whether you are being taken to a state of euphoria or driven to a place of despair, both have a similar effect. The recent hype of Bitcoin 2022, as well as the current “compressed” state of the market both have similar effects on those who choose to allow themselves to be mesmerized by them. Euphoria and FUD are equally paralytic in nature. On the one hand, euphoria ambushes daily disciplines and strategic operations. On the other, FUD discourages one to such an extent that continuation appears pointless and even futile. Ultimately, they both share the potential to stifle, or even destroy a sound investment strategy. I choose to be independently central in my mental approach to the market and my strategies. At the end of the day, having the invested capital, as well as having the mechanisms built is paramount. Getting all excited about a market is absolutely useless unless you are in some way able to harness it.
Don’t Fall For Either
Set your goals and work towards them! Ignore the “noise” of hype and distraction! This is the only sure way to ensure that you succeed in this environment. It is this very environment that manages to paralyze many, as they are not prepared for the emotional rollercoaster that awaits them. Unless you are dedicated to remaining focused on the plan your emotions will ultimately get the better of you. Remaining rational and disciplined will protect you from both of these “extremes”. Euphoria has a way of tricking you into chasing markets, while FUD has a way of keeping you out of a market when it is actually the best time to be gaining exposure to it. Don’t give in to either but refer back to your predetermined strategic approach. This is why it is imperative to have a very specific strategy and approach to the market. Without it, you will most likely give in to the emotional manipulation that the market so readily dishes out to the unprepared.
Shutting Out Every Form Of Noise
In this day and age, there is an absolute abundance of information and data. One could easily argue that there is an “overload” of information. What this ultimately implies is that one has to filter and even ignore certain information and influencers. Processing and accepting everything as true or even informative is a recipe for disaster. Once again, without a clear strategic objective, this becomes very difficult to appropriate. The average investor has a strategic approach of simply buying an asset and then selling it higher. There is simply not enough “substance” in this approach to weather the storms and difficult times that lead up to that day. Your investment idea or strategy will and must face opposition from the market. The market will endeavor to discourage you to such a point that you throw in the towel. It is in these times that you revert to the foundational aspects of your strategy and become even more militant in carrying it out.
Focus Enhances Productivity
If you wish to be more efficient and even more successful, you need to intensify your focus. This will subsequently also increase your productivity by default, assisting you to reach your goals even sooner. Focus also requires one to intensify concentration, which ultimately also includes, blocking out the noise. The moral of the story is to become immersed in your own ideas and strategies, while simultaneously blocking out all the noise and other distractions. If you are looking to benefit from the next significant move in Crypto you are going to have to be ready and prepared.
All the best with your planning and strategic building. Here’s hoping that it will pay off in the not too distant future!