Initially, I believed that success in the crypto industry entailed staying active. I would get up at 3 AM to analyze my positions' performance by looking at their charts and social networks for breaking news. As soon as an asset experienced a 5% pump, the urge to make a trade hit me hard. If there was some decline in prices, then there had to be either buying or selling out my positions. Needless to say, I was totally burned out, not to mention that the ROI wasn't impressive, accounting for network fees and poor emotional decision-making.
Afterwards, I decided to accept boredom.
I removed all the apps related to crypto from my phone's home screen. Next, I set up an automated weekly Dollar Cost Averaging (DCA) for my key assets, staked them, and literally left them alone. Instead of analyzing 15-minutes candles, I started spending my free time considering long-term fundamentals and working on the actual community.
As a result, not only does my portfolio look better than before but my mental health is finally getting restored as well.
In the crypto space, we all are constantly subjected to the hyperactive noise. Every news is telling us about some paradigm shift or market crash that will definitely happen tomorrow, and that makes us feel insecure unless we are actively trading. However, the true breakthrough occurs when we finally understand that we build our fortune during periods of quiet.
Not only is the true "diamond hands" the ability to survive a market crash but also the skill to stay passive during the boring period of sideways without engaging in risky activities to experience the surge of adrenaline.
The most intelligent financial strategy one can have right now is probably doing nothing at all.
How do you deal with the quiet market? Are you still experiencing problems with micro-managing your wallet?
