Given this current run-up in crypto, how badly are you wishing you got into certain tokens?
Will you promise me to remember these feelings later?
Was It All Real?
The 10 Trillion Dollar question is if this past run up we are experiencing is the real start of the next bull market.
ETFs in the US are the backbone of it all.
If they don’t happen, it’s likely down hard.
If they DO happen……….soooo I have a theory on that I will share in a future podcast.
But regardless, we’re here. Everything is up.
Word is 88% of all BTC holders haven’t moved in over a year.
We could very well be at a new level.
Are all of your bags packed?
Probably not, and that’s normal.
But so is the FOMO
Be Honest
There are probably tokens out there, large and small, that you wish you had in your wallet right now.
If you could rewind the clock 6 weeks back, you would have absolutely bought them.
But you didn’t.
So what will change next time? How will you navigate it all differently?
For example, I didn’t recall seeing too much enthusiasm for AVAX when I came out with the AVAX episode.
I wonder how many of my subscribers got on board?
I was able to get some under $10. I want more of course, but at this point I’m feeling good I at least pulled the trigger.
Did you?
There’s a reason why I was able to pull the trigger.
Solution
I talked about “bracketing” in episode 125 of the Trading Psychology Podcast, where you put your optimal low price for a trailing buy on a spreadsheet, but then you also put the “pain price” where it price rises to a certain point, you’ll FOMO into it just to make sure you don’t get left behind.
It will suck, because you may end up buying at or near a top, but you’re just looking to be historically correct.
Just like I’ve said in Forex trading — missing out on big wins is WAY worse than having losses.
Putting this on a spreadsheet is one thing, executing is another.
If you don’t execute and follow your own rules, none of this matters.
Some of you didn’t execute. And you wish you did.
Never forget this feeling.
— VP