This Too Shall Pass #HODL
You probably woke up today and saw an ocean of red on your screen. Nearly every single cryptocurrency is getting WORKED today!
It’s been like this for about 24 hours.
If you haven’t invested yet, you may be feeling more apprehensive than ever mixed with a little bit of relief that you didn’t.
If you already have money in the market, you may be panicking.
This email is to remind you of the only thing that matters:
BUY LOW, SELL HIGH
Do not sell today. Do not freak out. Close your browser. Uninstall your tracker apps. Stop checking FB groups. Do NOT sell at a loss.
This is a normal and regular correction. I can’t tell you if it will go up or down tomorrow but I can tell you that if you sell you will regret it big time, maybe for the rest of your life.
You will make back anything you lost today 10 fold in the long term.
The Quality of Your Decisions Is What Determines Your Investment Returns
People think that assets and asset classes are what drive big returns over the course of the lifetime.
But they fail to accurately incorporate the value of the DECISIONS that go into those assets.
In the early 1990’s, George Soros made a huge bet against the UK Pound and made almost $1B in a single day.
Thousands of other traders made a decision to go long and LOST almost $1B on the same exact asset.
In other words, there are thousands of people sitting at their computer right now, freaking out, trying desperately to log into Coinbase so that they can sell their coins.
They are on defense. They’re panicking.
Compare that to a seasoned veteran who looks at days like today as an opportunity to either buy more (dollar cost averaging) or to take a day off from looking at the charts.
Who do you think is going to win long term?
Who’s making better decisions?
Treat today as a valuable EXPERIENCE in your ability to control your “fat finger” that wants to sell.
If you can make it through days like today without doing anything (except for strategic purchases), you’re winning. You are getting experience you can’t learn on YouTube videos or in books.
What Am I Doing Today?
I have my checklist printed out (click here to download the PDF automatically from dropbox). I’m making sure anything that passes my test gets a good look.
I picked up a little Litecoin at $35 USD but that’s it. Yes, it’s tempting to buy more coins, but it doesn’t fit into my checklist or my strategy. So I’m going to read a book and focus on something that has nothing to do with cryptocurrency.
Take a deep breath, this is the fun stuff! When you’re on the other side of days like today you’ll be glad you stayed strong. That’s how you become great. That’s how you become wealthy 🙂