So I bought Ripple on Wednesday and at one time had a 70% return on it.
I guess I was lucky to have bought it at the lowest dip. I can't quite say that I am very experienced. I owned some stocks once, but all in all I lost rather a lot of money with it. I also can't say that I have studied economics or anything related to that. So to be honest it was just luck.
But does one need luck for investing money into the crypto market when everything is turning to gold (metaphorically speaking of course)? The answer to that is obviouslyno--at least for the time being. Almost everyone who has invested some money into cryptos has made a profit. One doesn't need to be a genius for that. The only genius part is to have realized that this was going to become big (and probably a lot of people didn't expect that as well).
So what am I trying to say here? My point is that ever since I made that 70% profit, I have been thinking about why I hadn't invested more money into it. Of course I could be satisfied with having made a 70% return on something (which is an absolutely ridiculous high amount compared to more traditional means). But in the back of my head I was still thinking: "why didn't I invest, say, a 1000$? I could have made 700$ in two days!?"
The point I am trying to make here is this: trading and making (or losing) money affects our psychology in a fundamental way. For anyone who has played this game probably knows what I am talking about. The thoughts start to circle around one thing: how to make more money.
It is such a powerful force that it was a reason for me to stop trading with socks (although, as I have pointed already out, from a financial perspective I should have stopped as well).
oh no.. I mean stocks of course...
I wasn't comfortable with having this new mind set. Life becomes reduced to a number. Other more important things, like your relationships with the people around you, become less important. This, to me at least is a big no-no. If you start to see that your relationships are taking a beating, quit what you are doing right now and think your life over. Relationships are probably the most important things in life.
Although I think that many people have seen this danger as well, there are plenty of people who don't see it. They get lost in this world--and it is psychologically (and even physically) not healthy! Life, as I have said, gets very limited. It is all just about the chart. The tickers that indicate losses and gains... Life is too valuable and beautiful for reducing it to this kind of living.
So am I saying that you should ditch everything and walk away from it all? No. But I want to emphasize the extreme power that this machine has. It is not easy to not get sucked into it. So beware. Spend your time wisely. Spend your time with your family and/or friends. Appreciate the richness of life. And appreciate most importantly, your self.
At the end, perhaps, you'll have a happy life and might also have some bucks in your wallet.
No... I don't mean male deers (bucks), but actually money...
