You Never Stop Learning
A key indicator that your Crypto journey has not become stagnant is your ability to continue learning. This is evidence of growth, as one requires further understanding and knowledge in order to perfect an already great strategy. If your understanding does not deepen then you are destined to continue your approach as you have done in the past. For those already attaining some level of success, it’s not the end of the world. Sure, a better understanding could increase profitability but it’s still somewhat acceptable. On the other hand, for those who continue to make the same foolish mistakes, it is imperative that they seek growth and a deeper understanding of the market and the metrics associated with it. Your gut can only take you so far and it can also be deceptive at times. Remember, your gut is vulnerable to emotional manipulation. Analysis and data stand strong, regardless of emotions.
Cold & Clinical
Investing and trading require a level of execution that is void of emotions. Abiding by a set of rules is the only way you stand a chance of achieving this. The more insight and understanding you are able to gain the more success you will be able to achieve. It’s a scenario that is extremely relative. A lot of Crypto market participants appear as if they have a pretty good handle on the market but in many cases, it’s not true. “A high tide lifts all boats” is what you would have seen in 2020 and 2021. Who’s making money now? That will show you who has a good grasp of the market.
You Don’t Necessarily Require New Strategies
A deeper understanding will often assist in perfecting a strategy rather than replacing it. So many small signals and alerts can be seen with an increased understanding that were previously present yet unrecognized. If you are growing your knowledge base and learning along your trading and investing journey you will ultimately become more efficient over time.
Just as an increase in knowledge and insight is evidence that your Crypto journey is still relevant, a trader or investor reliant upon intuition alone is not moving forward. Intuition should only be used alongside technicals and fundamentals. In other words, intuition should only ever be used as a form of confluence to an already strong case built upon strong data. Making use of your intuition alone is pretty much gambling. Sure, you may get lucky but you require consistency in any market in order to truly benefit over time.
At the end of the day being able to substantiate your investment ideas and trades with “real data” as opposed to “I really think we are going up from here” will give you true credibility. How you arrive at an idea is almost more important than simply arriving. Utilizing the correct approach ensures that you are likely to repeat a pattern of success. All the best as you navigate your way through these troubled waters. Try to work with the market! You can’t resist a storm but you can position yourself more safely and effectively.