As I explained before Matt and I are in the process of getting a Znode. When we decided to do this the price was at $22. Since then the price has climbed to $34. This puts to total price at 1000 coins x $34 = $34,000, which is $17,000 a person. This is a much higher price than we were originally planning on. Currencies can fluctuate widely in a short period of time so the price can come down, but still….damn.
My first worry and obstacle was not being able to come up with the money. Once that was accomplished the next thing to do was to get it into an exchange as quickly as possible. This process I will cover in another post and it is one to definitely read. It will show a huge mistake made by me and let you learn from my error. In this post I just want to share my feelings over the past few days.
When I had the money secured I started to really watch the price of zcoin. I could handle it staying at the
$22 price since I had enough money to cover it. Ideally it would go lower and I could get it cheaper. This did not happen as things usually tend to go the opposite of what I want. But hey, that’s life. Over the course of the next day the price rose to $25. OK, not great but prices vary over a day. It could come down.
At this point I started to get a sinking feeling in my stomach and I started to think worst case.
What if the price kept going, what if I can’t get this done. For anyone who has tried to buy anything at a lower price you will know the feeling. You sit there and feel helpless. It is a normal feeling. You just have to recognize it and not let it affect you. Easier said than done I know.
The price kept rising.It was now at $27. Now the dreaded FOMO feeling is starting to kick in. Should I just buy as much as I possibly can now and just buy the rest when I have money. Get it piece by piece. This kept running through my head. But you can’t invest and buy with emotions. You need to keep a clear head and try and take emotions out of it. For everyone that will be different. For me it was concentrating on other things. Thinking of what the kids and I will do when I get home. Thinking that there are greater problems than this to have.
The price kept rising. It went past $30. Then it was at $34. This was hitting me like a roundhouse to the face.How could you wait for the price to keep climbing? You knew it wouldn’t go down? Now for regret to kick in. You should of bought at $26, $27 any price other than this one
I am going to assume that anyone who has ever invested feels like this at one time or another. A good example of how I am feeling is when you make a spur of the moment purchase and have big time buyers remorse. Or when you see something you really want and it is a good buying price but you wait. The next time you see what you wanted it has doubled in price. Happens to everyone.
All of these emotions are normal. You will have something happen that causes at least one of these emotions to kick in. Just remember to be patient. Things move fast in this world. There will be another chance to get in. Maybe not at an all time low price, or the price you really wanted, but there is always a good buying point. Just handle the emotions the best you can. Take a deep breathe and think…..