We can't move forward in life without making a decision and crypto has taught me well where I fumble a lot and where I'm good at making decisions.
Crypto is a way to improve decision making but at the same time it's full of stress and it can cost big time.
The Art of Making Decisions in Crypto
In the early days I made so many quick and bad decisions, I should've had patience and think twice of what is going on and all before clicking buttons but I used to buy high when market was pumped and sell low when it was down.
That time i learnt why my decisions are mostly wrong..
1. influence of someone else in your decisions
I found out, my decisions are based on what other people are saying, think and than making a conclusion from whatever they're saying like the prices will go higher, this coin can do this..
And I be like yea that guy is buying it and saying good things, so I should just buy it.
Next moment, I'm down bad.. I decided to fix this thing as it was costing me big time.
Instead of taking influence from others people, I'm making sure the decision I'm making is purely based on my own perspective and research.
2. Dealing With The consequences of Emotional Decision
In crypto you will always have to dream with Your emotions first everytime when you're making a decision.
Image by Gino Crescoli from Pixabay
If you lost money on X coin than you have to control emotions from letting you make a decision like using leverage and getting liquidated to zero.
The consequences can be harsh when emotions are involved and for this I have started to track everything I'm doing before making a decision like planning In my mind so I can expect what will happen and having a plan is always better.
3. Making the right decision but the wrong timing
Most of time I've made the right decision but the timing wasn't Good like in crypto I'm confident about holding this thing because it will go up but I'm waiting for the time to take risk.
Image by Monoar Rahman Rony from Pixabay
"Wait" instead of execution is a thing that can ruin a perfect plan.
Plenty of time it turned into my regret cuz of not making the decision when it's the right time and than moving on from it is something difficult.
Wrapping Up...
In the end be it life or any field like crypto or anything, our decisions always have an impact in our life and it is better to involve someone you trust and have more experience than you is a good choice to take advice and two words before making decisions is a wise choice.
I wish it was possible to undo some decisions I made in last two years but it isn't possible at all, I was all alone never had a friend or mentor to guide and had to learn things the harsh way.
Time doesn't comeback, I hope the decisions we make especially tough ones do comes in our favor ahead in this life. I had shared what I learnt and hopefully it'll help you.. I'd love to know what you think about it in the comments.
