Not much to report on the portfolio today, which is not a bad thing.
Let’s talk about FOMO. It is the worst. I hate it. I hate it more than balloons. I hate balloons a lot, but FOMO is worse. Not by much though. People’s spit in balloons is nasty.
I do not want to be the person who bought Bitcoin at $1 and then sold at $200. This is just a huge fear of mine. See how FOMO is there already! F**king FOMO.
So how do I deal with FOMO.
I do not sell all my coins, EVER. Whenever I sell out of an investment I leave some behind. Even if it is only 5 coins. I leave them.
It can be a lot to manage, the more coins I buy and sell, but it lets me forget about FOMO. And that is the best thing I can do.
Another way I deal with FOMO.
I buy when the opportunity presents itself. A good example of this is Bitcoin. When it was at $20k everyone was wishing they bought it at $6k.
Well it went down to $6500, so there was an opportunity. But, people are scared because the price fell so much. They do not think it will every recover.
It will, and it has. And now you probably have FOMO because its at $9k. So go buy some and then you can get rid of FOMO.
The last way I deal with stupid FOMO.
If the price on a coin is running up I get that damn feeling. I want to get in on the profit.
This is where discipline and experience comes in. I remember what it was like to get left holding the bag at the top. Watching the price fall and my money go with it. This sucks, bad.
It happens to almost everyone and the important thing is to remember what it felt like.
I should leave it with that pic, it closes perfectly but I can’t….