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Don’t check your portfolio balance. Everything starts here, your portfolio in fiat terms means nothing, what matters is which tokens you have and how many of them. Uninstall apps, avoid the wallet section in exchanges – anything that will help you achieve this. This is not you putting your head in the sand, this is you avoiding totally unnecessary emotional distress that will affect your plan.
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Increase your token stack/decrease your average cost basis. Self explanatory. Everyone has their own strategy but do what you must – get a second job, postpone non-essential purchases – this is the time for buying.
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Cope with boredom. If you are finding yourself getting bored of this industry/market then you are about to make the most common mistake of people that just had their first cycle and didn’t make it. Educate yourself properly on the technology/markets and take positions. These two should keep you busy and interested.
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Desensitise yourself. I know it is hard, especially for new people. Face the pain – what you are feeling is absolutely normal. It takes time but once you are there the cancelling of for favourite TV show will cause you more distress than a 20% daily drop in your portfolio.
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Pundits gonna pundit. Ignore the noise or just avoid it all together. Everyone and their mother is calling out for an imminent financial collapse. Rich pundits like to self-indulge themselves into being they guy that called it, poor pundits like to get rich by creating a following. Here is the deal: things are bad yes, but unless you think that we are switching from capitalism into some other system there will be another boom cycle – this is how this system works.
Good luck everyone!
submitted by /u/itcouldbefrank
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