RE: Note for Non-Whales: HODLing is More Effective Than Day Trading in All of the Ways
Holy s***! This is the most awesome post I have read for a long time! Really.... Can´t thank you enough for this perspective!
The interesting thing is, that I didn´t know FOMO at all before I joined the cryptoworld. Since them, I can feel it each and every day.... Even when I tell myself, that I won´t suffer from it and that I´m beyond this, when I´m honest, I´m fully into it.... I decided to put my stakes into a project I really believe in and at the moment I do so, the price moves sideways and I look at all other cryptos going up. Then what I did was classical in the past: Sell my coins and go into other coins that I expected to grow fast and as soon as I did that, it was going sideways again and the other coin I moved away from, was going up.... Rinse and repeat... Same story... I learned from this and will now stick to my hodl promise, but there is still big FOMO - even with Steem now, where today I told myself several times, how shitty I am, that I didn´t buy more some days ago - but for that I would have needed to sell my other coins and I really try to stay firm this time. ;)
Thanks again for your post - it really is one of the best on this topic I have ever read!
You are welcome @atmosblack! I think many people have fallen into the FOMO trap like you describe it... and most of them aren't making any more money than the HODLers. Especially on a day like today when Steem is through the roof.
I like the idea of "Die on Your Own Sword" - if you're gonna make mistakes, may as well make them by doing things you believe in. So for me, believing in Steem in a no-brainer, no matter what happens next :-)