26th February

Finding good fundamentals

Finding Lukso, and holding, while other things pumped ahead, and the doubt set in, that was what enabled me to benefit from its eventual price appreciation. If I had panic sold to buy hathor again, when I missed the boat and a 3x, then I would have missed out on doing the same with Lukso. And then, having seen the appreciation on Lukso’s price, I would’ve jumped back in, and the cycle would have continued. Running round like a headless chicken, running on fear and greed, just like the herd.

What enabled me to hold?

Solid fundamentals. A knowledge of the project. Regret at having panic sold for hathor, which gave me some resolve that I wouldn’t repeat my previous mistake.

But mostly, my confidence in the project.

If I had just aped in after having been shilled the project, I would have sold. Why? Because once the fear came in, then I would have likely been swayed from my position. And that would have made me sell, and chase greed, to compensate for the fear. And that greed would have led me to buy the top of something. And that top would have dipped, producing fear and anger, making me want to revenge trade.

Essentially, going with emotion makes it easy to be susceptible to swings in emotion, swings in the market — these things are what the herd goes for. Holding means resisting the fear. Selling means resisting the greed.

I must sell some of my stack. It’s good training. I have been resisting selling, because I’ve been thinking “but that’s $10,000 once things pump!”. But the fact is, I have no idea how much that money equates to, and expecting that something will pump and give me some kind of “fair value”, or “expected pump” is exactly, exactly what will lead me up the parabola, and all the way back down again.

Selling some crypto is an investment in my state of mind. It is an investment in not having greed. And that is a good investment in the long run. Because greed would have me ride the parabola back down again.

Buying the Glassnode subscription seems like a solid idea

It’s only $384. I wouldn’t even notice if that had been lost from my account. But its benefits, I think are substantial. And I think it might lead me to get more in touch with the underbelly of the market, rather than flipsing around on the surface and waiting for a red or green candle to confirm my suspicions. This is crap, it is what everyone is seeing, and because of that, it is not information.

Also, better bed times. No point trying to learn if you can’t concentrate. It’s a marathon, not a sprint, so treat it accordingly.

night time