No, this is not about Beyoncé and Cuba Gooding Jr. This is about greed, fear and everything in between.
Stocks only go up, right? No, of course not. Stocks, currencies, coins and tokens all fluctuate. Sometimes they don't move much at all over the course of a few months, sometimes they blow up in either direction in the space of a few minutes. They can make your life, they can break your life. They can be the difference between happiness and severe depression. And temptations have everything to do with this.
When you're elated, you're on a high, and you see your assets appreciating in value in ways you've never seen before, it's so easy to get overwhelmed with glee, happiness and undeserved confidence. We all remember our first trade, and thinking "I've cracked it, I'm the man", and we all remember watching our first loss unfold on our screens. Now, why did you lose? Was it that the company failed, that you got scammed, or that hacks made it impossible to win? Or was it far more likely than you thought you could squeeze that little bit more out of your investment, that you let yourself get convinced it could only keep climbing, only to watch it tumble? Did your greed get the better of you?
Alternatively, have you had an asset depreciate so quickly and so sickeningly so that you've just cut your losses and ran? Have you been so fearful that you'd lose everything, that you've taken a massive loss just to protect a precious little? Did you allow your temptation to self preserve against logic override all logical thinking that you so confidently had only hours before?
This is the problem, temptations are everywhere. Temptations to hold out that little bit longer, to get that little bit more juice out of the fruit. Temptations to protect your pride, your remains of your capital, and to run from the thing that scares you. But in reality, if nothing about the company or the asset has changed for you, then the numbers are irrelevant. You're only truly in loss when you sell at a loss, otherwise you're just down on an investment which has just as much chance of rising back to previous levels that had you so confident before. Our money affects us on such an emotional and physical level, that temptations we would normally scoff at will come back to bite us with a vengeance. You must protect yourself against this at all costs, if you truly believe in your investment. Be strong. Stick to your limits. Know what you're doing!
